CONNECTIONS OF HOPE FOUNDATION
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net movement of funds of (31,015) GBP, resulting in total unrestricted funds decreasing from 34,744 GBP to 3,728 GBP. The trustees confirm that the charity remains a going concern with sufficient capacity to continue activities, despite noting that the broader economic climate posed challenges. The charity has not yet built formal reserves but is developing a policy to maintain three months of operating costs.
What the accounts disclose
“At present, the Foundation has not yet built formal reserves. However, the Trustees have been actively developing a reserves policy during 2024. The aim is to ensure that reserves equivalent to at least three months of operating costs are maintained on an ongoing basis.” — page 5
Trustees
- Dr Saeed Ata Alghadiechair
- Abdul Hakeem Montague
- Salah Mohamed El Hassan Taifoor
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £156k | £187k |
| 31/12/2023 | £178k | £142k |
| 31/12/2022 | £129k | £136k |
| 31/12/2021 | £26k | £20k |
| 31/12/2020 | £0 | £0 |
Common questions
Is CONNECTIONS OF HOPE FOUNDATION financially healthy?
The accounts state that the charity reported a net movement of funds of (31,015) GBP, resulting in total unrestricted funds decreasing from 34,744 GBP to 3,728 GBP. The trustees confirm that the charity remains a going concern with sufficient capacity to continue activities, despite noting that the broader economic climate posed challenges. The charity has not yet built formal reserves but is developing a policy to maintain three months of operating costs. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE REISNER CHARITABLE FOUNDATION LTD | 1 | £5k |
| GREEN CRESCENT AID UK | 1 | £250 |