NEW HOPE
Our intention is to support the transformation of the local community by "building a centre for the community" not just in terms of physical structures but also in terms of people.
Financial health, per its FY2025 accounts
The accounts state that unrestricted reserves total approximately £400,000, which the trustees consider sufficient to cover future building repairs and voids in rental income. The charity holds liquid assets to fund planned expenditure over the next three years and has no disclosed material uncertainties regarding its ability to continue as a going concern.
What the accounts disclose
“The principal funding source is new rental income.” — page 6
“Reserves will be required to provide cover for voids in rental income and to redecorate and refurbish properties at the end of tenancies, an approximate 3-year cycle, currently estimated at around £30,000.” — page 6
“During the year the charity let 4 New Hope Terrace, Newport Road, Reading RG1 8FG to Mrs G Turner, a charity trustee, at a rent of £1,500 per calendar month. Rent of £4,500 was received during the year (2024: £nil). The tenancy was granted on | January 2025 fora fixed term of 3 months. The rent was determined by the charity’s managing agent, Norwood Reading, as the open market rent for the property. It was not set by the trustees and was not less than the best rent reasonably obtainable for the property.” — page 10
Trustees
- GILES BRUCE MAGEE
- Gillian Hazel Turner
- Glenn Greene
- PRUDENCE ELIZABETH MAGEE
- Paul David Fountain
- Rev Jacqueline Fountain
- Stephen Magee
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2025 | £93k | £19k |
| 31/12/2024 | £86k | £63k |
| 31/12/2023 | £79k | £20k |
| 31/12/2022 | £75k | £28k |
| 31/12/2021 | £74k | £16k |
Common questions
Is NEW HOPE financially healthy?
Per its FY2025 accounts: The accounts state that unrestricted reserves total approximately £400,000, which the trustees consider sufficient to cover future building repairs and voids in rental income. The charity holds liquid assets to fund planned expenditure over the next three years and has no disclosed material uncertainties regarding its ability to continue as a going concern. Its FY2025 accounts were independently examined.
Who funds NEW HOPE?
Funders whose own accounts filings name NEW HOPE as a grant recipient include UBS UK Donor-Advised Foundation, THE MAURICE AND HILDA LAING CHARITABLE TRUST, IMAGINE IF TRUST, CHRIST FIRST WATFORD, St Andrews Chorleywood PCC.
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| UBS UK Donor-Advised Foundation | FY2021 | £88k | |
| THE MAURICE AND HILDA LAING CHARITABLE TRUST | FY2023 | £8k | Social Welfare and Community |
| IMAGINE IF TRUST | FY2022 | £6k | Love Congo / Medical Centre |
| THE MAURICE AND HILDA LAING CHARITABLE TRUST | FY2022 | £5k | |
| THE MAURICE AND HILDA LAING CHARITABLE TRUST | FY2021 | £5k | |
| CHRIST FIRST WATFORD | FY2022 | £4k | |
| St Andrews Chorleywood PCC | FY2025 | £3k | Home missions and support |
| THE FRANK LITCHFIELD GENERAL CHARITABLE TRUST | FY2023 | £1k | |
| CASTLE HILL BAPTIST CHURCH WARWICK | FY2024 | £660 | General Support |
| CASTLE HILL BAPTIST CHURCH WARWICK | FY2021 | £500 | General Support |
| ST BARNABAS WITH CHRIST CHURCH PCC | FY2021 | £200 | Local Mission Fund |