Foundations for Hope - Charities report - 20.2

REGISTERED COMPANY NUMBER: 08339515 (England and Wales)

REGISTERED CHARITY NUMBER: 1155579

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

FOUNDATIONS FOR HOPE

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Statement of Financial Position

6

Statement of Cash Flows

7

Notes to the Statement of Cash Flows

8

Notes to the Financial Statements

9

to

15

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their

report with the financial statements of the charity for the year ended 31 December 2019. The trustees have

adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice

applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in

the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

A summary of the objects of the charity set out in its governing document are:

The prevention of relief of poverty in particular in the Middle East and Africa by providing grants, items and

services to individuals in need and /or charities, or other organisations working to prevent or relieve poverty.

Significant activities

The Charity received a grant of £1.2 million in December 2018. The grant is being used to achieve the charity's

objects in working towards the elimination of the causes and consequences of poverty in the Middle East and

Africa.

During the year it has received a further grant of £118,932 and has made grants to institutions totalling £330,223

making significant progress towards accomplishment of the Charitable Project with it's Donor. Grants are made in

accordance with charity law, our constitution and the wishes of our donors.

The activities include 3 year projects and they have delivered the funds to the institutions for activities in Egypt

and Sudan for year 1 of those projects and included:-

Providing funding to support people with disabilities. Firstly by our partner giving training to trainers who deal

with various forms of disability and to teach them the skills to help them lead a normal life. By providing speech

therapy classes for children. They have also provided, prosthetics and training on how to use these to give the

recipients independence and to be self-sufficient.Work has also started on rehabilitation for the blind,and training

a team of helpers for the blind and their families. These works with the disabled in Egypt will change the lives of

thousands of people in Egypt who are struggling both physically and financially.

The charity has continued with their ongoing project to help homeless street children by providing a safe place

for children to stay with medical care and nutrition. The children are also given access to education and life skills

to help them leave the street.

Three dialysis units were funded in the year. these are located in Egypt and in Sudan. One unit was operational

in Deshna, Sudan and the other two in Egypt were made fully operational in 2020.

Another project has been started to help create a safer community for vulnerable girls who have suffered from

sexual violence and abuse.

Public benefit

By raising money from grants, Foundations for Hope provides a public benefit by making grants to institutions it

works with to achieve it's objectives in relieving poverty.

FINANCIAL REVIEW

Financial position

The financial position of the charitable company is set out on page 5 of the Financial Statements. The net current

assets at the end of the period was £948,841 compared to £1,183,363 at 31 December 2018. The funds are held

in a general unrestricted income fund available to be spent within the objects of the charity.

Reserves policy

Statement of the charity's policy on reserves:-

Any reserves will be used to make grants to charities or voluntary bodies for the prevention or relief of poverty.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by

guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The trustee selection method is by appointment.

Bishop A Angaelos is entitled to appoint charity trustees.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate

controls are in place to provide reasonable assurance against fraud and error.They have reviewed those risks

and established systems and procedures to manage those risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08339515 (England and Wales)

Registered Charity number

1155579

Registered office

Shephalbury Manor

Broadhall Way

Stevenage

Hertfordshire

SG2 8NP

Trustees

Archbishop A Angaelos

G N Barbary

D N Z Boutros

R A Daoud

Dr M L Elsanady

Dr C H B Gabriel

Dr M A Ishak-Hanna

Dr W Khalil

M Khalil

C F Malek

Dr O K Morris

Ms R Saleh

F F Fahmy

Company Secretary

Ms R Saleh

Independent Examiner

Prescott Gendy Aslam & Co

Hollington House

Flitton Hill

Maulden

Bedfordshire

MK45 2BE

This report has been prepared in accordance with the special provisions of Part 15 of Companies Act 2006

relating to small companies.

Approved by order of the board of trustees on 17 September 2020 and signed on its behalf by:

Archbishop A Angaelos - Trustee

Independent examiner's report to the trustees of Foundations for Hope ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended

31 December 2019.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are

responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006

('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the

2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's

accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my

examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011

Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the

examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention

should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

George Gendy

Prescott Gendy Aslam & Co

Hollington House

Flitton Hill

Maulden

Bedfordshire

MK45 2BE

17 September 2020

31.12.19

31.12.18

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

118,932

1,200,000

EXPENDITURE ON

Raising funds

3

28,334

25,451

Charitable activities

4

Face for Children in Need

25,997

-

Life Vision for Development

16,933

-

Orphanage in Zigzag, Egypt

18,000

-

Bless Egypt Disability programme

102,308

-

Refurbishment of Boys dormitary at school in Uganda

1,985

-

Dialysis Units in Egypt

140,000

-

Dialysis units in Sudan

25,000

-

Other

261

80

Total

358,818

25,531

NET INCOME/(EXPENDITURE)

(239,886

)

1,174,469

RECONCILIATION OF FUNDS

Total funds brought forward

1,183,363

8,894

TOTAL FUNDS CARRIED FORWARD

943,477

1,183,363

31.12.19

31.12.18

Unrestricted

Total

fund

funds

Notes

£

£

CURRENT ASSETS

Cash at bank

963,618

1,198,747

CREDITORS

Amounts falling due within one year

11

(20,141

)

(15,384

)

NET CURRENT ASSETS

943,477

1,183,363

TOTAL ASSETS LESS CURRENT LIABILITIES

943,477

1,183,363

NET ASSETS

943,477

1,183,363

FUNDS

13

Unrestricted funds

943,477

1,183,363

TOTAL FUNDS

943,477

1,183,363

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 17 September 2020 and were signed on its behalf by:

A Angaelos - Trustee

Cash flows from operating activities

Cash generated from operations

1

(235,129

)

1,172,745

Net cash (used in)/provided by operating activities

(235,129

)

1,172,745

Cash flows from financing activities

New loans in year

-

15,000

Net cash provided by financing activities

-

15,000

Change in cash and cash equivalents in the reporting period

(235,129

)

1,187,745

Cash and cash equivalents at the beginning of the reporting period

1,198,747

11,002

Cash and cash equivalents at the end of the reporting period

963,618

1,198,747

1.	RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.12.19

31.12.18

£

£

Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities)

(239,886

)

1,174,469

Adjustments for:

Increase/(decrease) in creditors

4,757

(1,724

)

Net cash (used in)/provided by operations

(235,129

)

1,172,745

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.19

Cash flow

At 31.12.19

£

£

£

Net cash

Cash at bank

1,198,747

(235,129

)

963,618

1,198,747

(235,129

)

963,618

Debt

Debts falling due within 1 year

(15,000

)

-

(15,000

)

(15,000

)

-

(15,000

)

Total

1,183,747

(235,129

)

948,618

1.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have

been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities:

Statement of Recommended Practice applicable to charities preparing their accounts in accordance with

the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1

January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK

and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under

the historical cost convention.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the

funds, it is probable that the income will be received and the amount can be measured reliably.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing

the charity to that expenditure, it is probable that a transfer of economic benefits will be required in

settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an

accruals basis and has been classified under headings that aggregate all cost related to the category.

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a

basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a

commitment but not accrued as expenditure.

TAXATION

The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the

trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity.

Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial

statements.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The charitable company operates a defined contribution pension scheme. Contributions payable to the

charitable company's pension scheme are charged to the Statement of Financial Activities in the period to

which they relate.

2.	DONATIONS AND LEGACIES

31.12.19

31.12.18

£

£

Grants

118,932

1,200,000

Grants received, included in the above, are as follows:

31.12.19

31.12.18

£

£

GS Gives Annual Giving Fund

118,932

1,200,000

3.	RAISING FUNDS

RAISING DONATIONS AND LEGACIES

31.12.19

31.12.18

£

£

Support costs

28,334

25,451

4.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

(see note

5)

£

Face for Children in Need

25,997

Life Vision for Development

16,933

Orphanage in Zigzag, Egypt

18,000

Bless Egypt Disability programme

102,308

Refurbishment of Boys dormitary at school in Uganda

1,985

Dialysis Units in Egypt

140,000

Dialysis units in Sudan

25,000

330,223

5.	GRANTS PAYABLE

31.12.19

31.12.18

£

£

Face for Children in Need

25,997

-

Life Vision for Development

16,933

-

Orphanage in Zigzag, Egypt

18,000

-

Bless Egypt Disability programme

102,308

-

Refurbishment of Boys dormitary at school in Uganda

1,985

-

Dialysis Units in Egypt

140,000

-

Dialysis units in Sudan

25,000

-

330,223

-

The total grants paid to institutions during the year was as follows:

31.12.19

31.12.18

£

£

Life Vision for Development

16,933

-

Dialysis Units

165,000

-

Bless Egypt

102,308

-

Zagzig Orthanage

18,000

-

Rafiki Thabo Foundation

1,985

-

Face for Children in Need

25,997

-

330,223

-

6.	SUPPORT COSTS

Governance

Management

Finance

costs

Totals

£

£

£

£

Raising donations and legacies

26,534

-

1,800

28,334

Other resources expended

-

261

-

261

26,534

261

1,800

28,595

7.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.19

31.12.18

£

£

Audit-related assurance services

1,800

-

8.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2019 nor for the

year ended 31 December 2018.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 December 2019 nor for the year ended

31 December 2018.

9.	STAFF COSTS

31.12.19

31.12.18

£

£

Wages and salaries

25,947

25,245

Other pension costs

587

206

26,534

25,451

The average monthly number of employees during the year was as follows:

31.12.19

31.12.18

Management

1

1

No employees received emoluments in excess of £60,000.

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

1,200,000

EXPENDITURE ON

Raising funds

25,451

Other

80

Total

25,531

NET INCOME

1,174,469

RECONCILIATION OF FUNDS

Total funds brought forward

8,894

TOTAL FUNDS CARRIED FORWARD

1,183,363

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Other loans (see note 12)

15,000

15,000

Trade creditors

(1

)

(1

)

Social security and other taxes

388

385

Other creditors

4,640

-

Nest pension Control

114

-

20,141

15,384

12.

LOANS

An analysis of the maturity of loans is given below:

31.12.19

31.12.18

£

£

Amounts falling due within one year on demand:

Other loans

15,000

15,000

13.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.19

in funds

31.12.19

£

£

£

Unrestricted funds

General fund

1,183,363

(239,886

)

943,477

TOTAL FUNDS

1,183,363

(239,886

)

943,477

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

118,932

(358,818

)

(239,886

)

TOTAL FUNDS

118,932

(358,818

)

(239,886

)

Comparatives for movement in funds

Net

movement

At

At 1.1.18

in funds

31.12.18

£

£

£

Unrestricted funds

General fund

8,894

1,174,469

1,183,363

TOTAL FUNDS

8,894

1,174,469

1,183,363

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

1,200,000

(25,531

)

1,174,469

TOTAL FUNDS

1,200,000

(25,531

)

1,174,469

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.1.18

in funds

31.12.19

£

£

£

Unrestricted funds

General fund

8,894

934,583

943,477

TOTAL FUNDS

8,894

934,583

943,477

A current year 12 months and prior year 12 months combined net movement in funds, included in the

above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

1,318,932

(384,349

)

934,583

TOTAL FUNDS

1,318,932

(384,349

)

934,583

14.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2019.