ELBA HOPE FOUNDATION
Latest income
£209k
Latest spending
£739k
Registered
2022
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that the charity ended the year with unrestricted funds in deficit of £577,527, resulting from a net loss of £529,928 against income of £208,989. The trustees report that this deficit reflects a strategic phase of investment and note that the charity relies on a confirmed pipeline of pledged grants and support from a connected company to continue operating for the foreseeable future.
What the accounts disclose
Reserves position: below the charity's own stated reserves policy
“At 31 December 2024 the Charity’s funds are in deficit by £577,527, which are all unrestricted. It is the policy of the trustees to retain sufficient unrestricted funds which, in their judgement, will mitigate the short-term effect of income volatility and retain funds to generate sufficient income to meet current and future operational activities of the charity. Formal policy will be agreed by the trustees in due course.” — page 6
Per its FY2024 accounts as filed with the Charity Commission.
Going concern: noted by the trustees or auditor
“The Trustees are confident that Elba Hope Foundation remains a going concern. While the current year-end position shows a deficit, this reflects a temporary and strategic phase of investment in new high-impact programmes launched during the year. These initiatives required significant upfront commitments, but they are already generating strong donor interest and are expected to secure substantial future funding. The Foundation have a confirmed pipeline of pledged grants and major gifts scheduled for receipt in the next fiscal year. Additionally, they have planned public fundraising initiatives and events to broaden their income base and create sustainable, recurring revenue streams as well as appointing dedicated fundraisers in 2025 to expand income generation. The trustees have overseen a review of operational expenditure and implemented cost controls. In addition to the above, IE7 Ltd, a company under common control, has committed to supporting pledged grants and operations until sufficient outside fundraising is secured, ensuring that all obligations are fully backed.” — page 6
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Amounts owed to group companies
“Included in Amounts owed to group companies is £682,931 (2023: £170,722), which was received from connected companies, IE7 Ltd and IE7 Holdings Ltd of which I Elba a trustee of Elba Hope Foundation is the director.” — page 15
“Included in Amounts owed to group companies is £31,871 (2023: £nil) which was owed to connected charity Elba Hope Foundation Inc, of which I Elba a trustee of Elba Hope Foundation is a trustee.” — page 15
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Amounts owed to connected charity
“Included in Amounts owed to group companies is £682,931 (2023: £170,722), which was received from connected companies, IE7 Ltd and IE7 Holdings Ltd of which I Elba a trustee of Elba Hope Foundation is the director.” — page 15
“Included in Amounts owed to group companies is £31,871 (2023: £nil) which was owed to connected charity Elba Hope Foundation Inc, of which I Elba a trustee of Elba Hope Foundation is a trustee.” — page 15
Per its FY2024 accounts as filed with the Charity Commission.
Trustees
- Idris Akuna Elba OBEchair
- Maryam Egal
- Roger Glenister Charteris
- Sabrina Dhowre Elba
- Susan Benjamin
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £209k | £739k |
| 31/12/2023 | £302k | £350k |
Common questions
Is ELBA HOPE FOUNDATION financially healthy?
The accounts state that the charity ended the year with unrestricted funds in deficit of £577,527, resulting from a net loss of £529,928 against income of £208,989. The trustees report that this deficit reflects a strategic phase of investment and note that the charity relies on a confirmed pipeline of pledged grants and support from a connected company to continue operating for the foreseeable future. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE ALBORADA TRUST | 1 | £200k |
| THE LINBURY TRUST | 1 | £100k |
| GATEWAY CHURCH SWINDON | 1 | £51k |
| HOPE CHURCH ORPINGTON | 1 | £15k |
| THE THOMAS WALL TRUST | 1 | £5k |
| C B AND H H TAYLOR 1984 TRUST | 1 | £1k |
| COLEFAX CHARITABLE TRUST | 1 | £1k |
| REDEEMER WORTHING LTD | 1 | £1k |