Regisiered Chariry Nllmber 1O4()71H FREEDOM'S ARK Trustees Report and Accounts for ihe year ended 30 NoVeM￿r 2023 FREEDONI'S ARK Report and aceounts Contents Charity inlonnaiion TNsiees' ReEM)rt Siatemerti of Trustees, resw>nsibililies ALLountJnts' report SiateTnenl of Financial Actiiitie£ Income and Ex￿ndIt￿re account .Sthtemeni nf total recognised gains a[￿ Re£ogllised Gainq and Movemeni.q in Accumulaied Funds Baiartce sheei io Noie% 10 Ihe accounts Delailed stalen￿￿1 of FitthnLiai Activilies 18 FREEDONI'S ARK Company Inforjnatio Trustees Re￿ O L Obunge Mrs O Owolabi Ms N Mensah Dr V Obi laptmiinted on 26 May ryO?31 Rev M JohrtS0rt lapw>irtied on 8 March ?024) Reporting Aetountants Fumi Popoola B.Sc FCCA cfA FP A8s()ciaie% Litnited 36A G(M￿1￿yeS Ro Ilford Ess¢x IG3 9UR BAnke Barclavb Bank PIC Lower Tottenhani Branch North ￿"1 London Group P O Box ?403 London N182BY Registered office The Dream Cenite T0￿etthaM Town Hall Toltenhatn London N154RY Registered number FREEDOM'S ARK The report of the trustees for the yvar ended 30 November 2023 Intr￿ll£tiOn The Trusteeb prcscni their annua] reportartd accounts forthe year ended 30 November 2023. The Board of Twsiees are satisfied wilh ihe ￿rforn7an¢t of ihe chario. during ihe year and (he position at 3U Nov¢mkr ?07.3 and C{￿51￿¢r that th¢ charitv is in a strong w)sition io continu¢ its aciii'ities during the coming >Ear. and that the chariiy's &sseL£ ate adequate io fulfil ILS obligations. Name. registered and constitution is supported bv NO]un￿er5 who asSlSI in helping 10 aLhieve our Objecil￿e. All offices teEN)rt io the ￿%10[ for the da), 10 day running of the charitys objectives. The and ar¢ gov¢rn¢dby th¢ Trust D¢ot The method5 tTdoNedfor ihe reern¥lmenl andappoinlmenl 1rn5tees New TTUStees JTe recruited from the church and the co]n]nunii). They ate aptK>inled by a Tesolutio p￿sed al a tneeting uf Ihe Trnstres. FREEDOM'S ARK The report of the trustees for the yvar ended 30 November 2023 FiDaDcial ReTriew Fund5 in deficit There weTe no funds in deficit during the Av¢lllability adequacy ￿Sets of eoch ofthtfvllds The Biwd of Tnjstees is S￿l￿ried that the ch3tity's a5￿ts in each fund are available and adquate to fultil its oblig&tions in respect of h]td. Transactions Financialposition The linancial statenienL& are.*t page.s 7 10 1 ]_ The financial AtstemenLS h3I'e been prepared itnpletnenting the 8tatemeni of Recotnmended Practice for Accounting and Rep)rtin£ by ch￿tieS issued by the ch￿tY Cotntni55iOll foT Englatmi and Wdes dnd in aCco￿￿nce w.ith the FRS102 {effecti¥e j￿u￿ry ?0151. As stated in the intr￿u¢[lOn Lo this rerxTrrt. the Trustees Lon%ider Ihe finanLial perlomwnce by ihe ch&rii)' during (he seat io ha¥e been Sali%faciory. Thc Siaicmcni of Financia] Activiiics show nci incoming rcsourccs for thc ycar of a rcvcnuc nature of £1.192 (prior ye9x ouigoing resourtrsof L?4.4671. Fr¢¢ unrestriaed liqllid re5ers'¢s amouTht¢d to £81.553 IpTior)rar £81.8(X)l. The Lh￿tY received gr￿ts (wtn the T￿￿Sell TtUsL Lulld(￿ Boruugh Of H￿ngey, tAKaJily Jnd All Churches TTUSt in the ended 30 Noi"etTrbeT 2￿3. Spe¢ific chaRge5 infircda55ets Changcs in fjxed as*is are shown in dethil in the noies io the accounis. There were fixed as5eis of £?U.458 purchas¢(l in th¢ yeaT ended 30 November ?0?3. The members ofthe Board of Tnlstees ofthe CbaTity duTing the year ¢Dded 30 November 21123 were :_ Rev O L Obunge Mrs O 0￿0]abl Ms N Men.4ah Dr V Obi [ap￿1￿1edOll 26 May 2(1231 The TNstee5 are all memkrs of the Chariry. The members of the Board of Tn]ste£s ofthe Clwity at the date the re￿rt and accounts were approved were:_ Rey O L Obunge Mrs O Owolabi M% N Mell%ah T)r V Obi lappN)int¢d on 26 May 20231 FREEDOM'S ARK The report of the trustees for the yvar ended 30 November 2023 Bankers Rarclays Rank PIC Lower Tollenham NoTih Easi London Group Londun N189BY Independent Ex#tThiner Fumi Popoola B.Sc FCCA cfA Chartered Certified Accountants FP As)OLiaiLS Limiicd 36A Good[t￿Y￿￿ Road Ilford IG3 9UR Statement ofTrustees' RespoDsil)iilties The Chariiies Aa requires Ihe Board of Trusrees io prepare financial sthienrnts for &ich flnancial }ear which give a trL]e and fair i'iew of the affairs nf the charit). at the end of the finan¢i31 year and of the %urplu.4 01 deticit of the charitv. In pteparing those financia] sta*menL% the Bi)ard 15 required tD:_ - seleci suitable aceouniing poliLies alld then apply them COttSiSlellllj; - make judgert*nis and estitmies thai are teastsnable and ptudetti: &nd - pTep￿￿ the fIn￿Li￿ sLL1¥[￿lts on the ¥oin¥ iJ)llLeTll bdsi5 unle55 it is inappropriaic 10 prc%un￿ Ihai Ihc charii). ￿111 coniinuc Ln bu%incss. siaie wheiher applicable accouniino siandards and siaiemenis of recommendd prncti¢¢ hai't been follo￿"li¢i¢s ser our page 12. Respectiie res￿nSIbilItieS of tTUStees and examiner desctibed on Pdge 4. the ch￿tY,￿ Tn]stee5 ate res[￿sible fot the PTeparation of the ffinanci￿ sutetnenls. The Tru%tee% are %ati%fied that the audil Iequitemenl of Seciion 144(1 l of the Chatilie% Aci 2011 (the Aci) diJe& noi apply. and ihai (here is no requirtn￿l In the go¥erning d(*umeni or consiillltiim of (he Charity for (he conduiting of an audii. As a cothstquence. th¢ Tw51tt5 have ele£tr4J ihai the Iinancial stsremenis be subjea to independent exanunation. Haying satisfi¢d mjstf thai th¢ chariry is nor subjea io audii a[￿ is eligible for indyndeni examinaiion, Jr is Tny re%pon£ibiliry to:_ al ex￿lThe the under 5eLlion 145 0( the Act; bl 10 follow Ihc procLdwcs l￿d down in thL &'ncrdl Dirtciions given by the Ch￿1}, Commission undcr ection 1451511b) of the Aci.. and- cl to sthie wheiher particular mailers have come 10 my allenuon. Basis Trfnpininn and 5cibpe nfm.nrk UDdertaken I conducied mv examinaiion in accordance %%'iih the General Direriions oiveTr by the Charity Commisstoners tor England & Nl'al¢.s in relaiion LO the ￿nd￿Oing of an indetKndent eyamination. reterred 10 aiK)ve. An independent exam]nation includes a Tei'iew ol. the accountin£ tecord£ kept by the Chanty and of the accounting s)'5tems etnploved b). the Chatiti. and a cornpati50n of the financial stsietnent5 presented with thuse TeLurds. It a]su inl1ud￿￿ Lonsiderdliun uf unusual ilems ui disLIvsures in the finanLial stdletnenls and *eking cxplanaiiort% Irom you as ffii%icc% cimccming %uch m&iicr%. Thc puryN)%c of thc cxaminaiion i$ 10 establish as lar as possible thai Ihere have been rto i*eaches of Ihe Chariiies legislaiion and Ihai Ihe financial bUl¥nknis comply ￿1th thL SORP. ort a rcsi bas1& of ei'idencL relci'arti io thi ￿Ount￿ and di￿¢]05￿rC.s in the Iinancial siaienknis. The PTIKedure% undertak'en do not provide all the ￿idence would be required in an audiL and info[n￿tion supplied by the Trustee5 in the cOu￿e of the exarnination is not subjected 10 Judit tests 01 enquiTies. consequendy I do noi expres% an audit opinion on the i"ieM' giNen by the financial 4tstemenLS, aDd p3rticu13r. l expre&5 no opinion a5 10 w'hetheT ihe financi￿ gii"e a true atd fail of the a(faiT5 of the th￿[y. tThy Teport Is IiTniid lu Sel vui in the sLLIe[]￿lli belts￿. I planned and perftsrnKd my examinaiion so as io saiisly myself Ihai ihe objeciives of Ihe independent exarninaiion are achieved and ￿fOre finali8ino the re￿1 l obLlin wrillen ￿suranCe$ from the Trnsi¢¢s of all material mai¢ers. Independent Ex¥unlner's Sl*ten)tht. Subject tn the limitations up()n the of mi. woik &% detsiled alM)i"e. in connection with m5. exatnindtion , I can cunfutn that thi5 IS a report in of exatninatioTh catTied oui under section 145 of the Act 3nd in dLLurdanLe with any direLtions giien by the Comtni%sion under %￿b￿tion 15llbl vf that seLlion whiLh are appliLable-, and thai no tnaiier h&% come ¢0 mv ai*niioTh in corme£iioJJ with my examiuaiion whJ"cb giveq me reasonable cause to believe lha( in any ma*rial resptci ihe requirements lil to keep accounting records in accordance with section 130 of the Ac liil lo prep￿ fill￿Cl￿ stdlements which ￿co[d with the accounting records cotnply with the aCLounting requiremerti% of Ihe ALI artd- liiil thai the financial stalcn￿n[S prcpthred in *eo]thcc wilh Ihc and principlLs sei Out in (he SiaicnKni of ReCoMt￿ded Pracric¢- AccouniiTho and Re[￿Ing by Chariiies have not been met: or to which. in tn). (yinion. ￿￿ntiOn sh(M]Id be dra￿TrI in tny rqxbrt in order to enable a pmperundet£tanding of the account£ ti) be reached- The Examiner's Televant PTofessionaJ qualification or IM)dy'. Chan¢r¢d Cenified Accounwjts Futni Popoola B.Sc FCCA CTA Chartered Cenified Accountanis FP Associate£ Litnited .30A G(KKimay¢s Road Ilford Essex IG3 9UR The date upon which tnyopiThion is expresse5 is on 25 Septern￿r 2024. FREEDOM'S ARK Statement of financial Actii"ities ftsr the ye&r end￿ 30 Nthvember 20LI Unrts*rictrO Re#ricted Total Lastycar Fulld5 FuDd5 Totsl FuDd5 2023 2022 Intoming re50llrces Voluntarv Incotne Invixtmtnt In¢om¢ 201253 486.434 405.(47 Total in¢orning resources 201J72 285.181 486533 4DiJ55 28*.y 4.%4..143 3%.66¥ 33,134 4?9.82* Governancecosts Total resources e￿Iended 1.619 287.742 485.-161 Net incoming resourcesllnet outgoing re50urce5 before transfers betweeD funds 1.439 124.4671 Gr￿ transfers between funds Net incoming resourcesllDet out2oin% resou￿) before Other recogni5ed gaiD5 and lo&se5 12471 1.439 {24.4671 Other recogni5ed gain5 a￿d ]o&fe5 Net moTr'ement in funds ,439 124,4671 RecoDciliatlOD of fuDts ToiixlJunds broughiforword 81SIK) 163,IA6 245.446 2[￿,913 Total Funds eArried forwArd 81553 165,1185 246,L 243446 The nei t[￿veMent in fund5 ￿le￿ed io the inco]ning Tefoutres defin￿ in the 50RP and is rLro]Kiled to the tvtsl fu￿￿5 as %hvwn in Ihe Ba1￿ce Sheet pdge 9 TEqUitEd by th¢ the SORP. All acti￿tItS derive from (olltilluillg operdtNx The on pa%¢$ 11 to 17 fom inte2rg1 partof theseAwounl FREEDOM'S ARK Statement of financial Actii"ities ftsr the ye&r end￿ 30 Nthvember 20LI Intome a￿1 E￿ndi￿re Account for tILe year ended 311 Noyember 2011 2023 2022 Turnover 480.4.U 405.047 Dire£t costs of turnover 454J43 396.688 Gro￿ Surplus 32.091 8.-159 Governance cost5 31ffj18 33.134 Opernting sUrp1￿￿{der1eit) I￿75 {24.77.%1 Interesi reLeivable SurplU￿(derlCltI on ordinarj. adiiities before tsx 1•4.467) Sllrplusl(deficiti forthe finanei81 year 1•4.467) Gift Aid Paytnents Retsined surpluslldfftitl forthe finaniial Yegr All actsiities derive from continuing operatioLs The note5 pages I I tu 17 fom integral partofthesea¢rounl Statement of Total Recognised Gains aDd I￿sseS for the year ended 30 November 2023 2022 Exce￿ of Incotne oi'er Expendill￿e irfore reall￿10n ofa55et5 s per Prvfil and fy5 aLcounr 124.467) 124.467) Net ￿[OVement ill fuDds before1￿tiO 1?4.467) FREEDOM'S ARK Statement of financial Actii"ities ftsr the ye&r end￿ 30 Nthvember 20LI D*loTrements in reTrenue and capital funds ror Iht ?t#r endtd 30 November 2011 Revenue accumuIated funds Unres1￿¢1&1 R(stJScts1 Total Last Y￿r Fund5 FD￿J5 Funds TotAI Fvnds 2023 2023 202J 2022 A￿Um￿l￿ted fllnds brought fotivord Recognised gains and losses ￿fore transfers 81.81K) )69.91.4 124.4071 245.446 1.439 81i5_1 165.085 246.618 C1￿1n￿ revenue a¢eum￿lated funds 165.08.S 246.638 ?45.446 Revenue accuTnulated fi]nd5 81i53 165.085 46.638 245.446 The pages 1110 17 fom Intrgral partof thesea¢¢oun FREEDOM'S ARK Balance Sheet as at.30 November 21123 2023 2022 7Tr¢ assets ￿liabl[rhe5 ollhe¢hanty." 11.972 11.972 Tothlfired&s¥ets CDrr¢ut a55ets l4 a6.5Xi ?19.nl.I 93.$01 IW.9A. 9.1.786 CL%h hank atKI in hatKI aIfK)urtL% due withinOf* yea 163.?8)1 {M).3121 ?l?J16 233.474 TothlaS&eiS les$ txvreHt1￿h1IlIT•S ?46.63X 245.44fi cr￿1¢￿T5.. amunts due after trLYethan one year ProvLsloths for Ilabliitles sujd tharg2s Net wets including pension a￿¢ Iliability ?46.63A 245.446 Thefvttds ofrhe choiity." Uhrestrkied Itt¢0￿ Unrestricied relen￿ aciumula*d funds Desi2nated revertue I'urtds Uhrestrltied capltsi D¢4ignated fixed funds 81.553 81.8Tr) Totthl unre5tritted futtds 81J53 81.81X) Reslrieted ltttome futtds Resincted rel'enue ccuTnul*ed luTrJs Restricted capitsl funds Tvtd restritted funds 165.085 163.646 165J)85 163.646 Total charfty fu]Mls 246.63¥ 245.446 Rev O l. Obwi8e Trusttt Approved by the board of trusteoson ￿ Seplember 2024 The notes th] pagts 11 to 17 fortD #n integral p*rfof ¢bfs¢ 10 FREEDOF+l'S ARK Notes to the Accounts for the year eDded 30 November 2023 AcLUlillting puliats Basi5 ofpreparnlton of ihe occounts The Fin￿¢1￿] suiements hav¢ been Prepared in accordance with the FR510? effeaiTre January 21115. and a]1 other applicable accounting.standartLs nNMiitied hy the Sthien￿nl of Recotntnended Ptaciicefoi Accouniing and Re￿rting i55ued the Chari1} Cott]rniS5ioners foT Engl￿d & I&,￿e￿ (The SORPI adapied 10 the needs of unicoTtK>TJied organisalivns. The ccoiint% hale been dThwrt lip in aLLYJrdanLe ￿lIh ihe PTOI'j%lOrt% ofthe Charilie% Accounti and Report.$ Regulations and LnLlude all (he re%ults olihe charity s (weiaiions which aredescrit￿ in Ihc TTUSltcs Ri￿rt. all of which arc coniittuing. Tnsofar a% ihe SORP requires compliance wiih.%ErcifJc Financial RetK)r¢ing Sthndards other ihan the FRS1112 then the %pecilic Financial Rew)rting Stsndards have been followed where their tequireTnent£ differ fmtn those of the FTrSIO) The particulJT accounting EK>licies adopted are 5eL oui below. AccDunting conventio ThL fill￿¢]dI sldlCt￿n[5 ￿ prepared going conceTTr b￿7¥. underihe hislotical cost conN'ention. The chatit) is eniirely de￿￿￿de￿I on continuin£ donations and a con£equence the going LonLetn b￿lS Is also dqxndenlon cunE]nuingdon￿i0￿S. Incoming Re5o11rces Incotning resources 3r¢ accounted for on o rer¢iv3bl¢ b3Si.5. InveslmeAtPrnperttes Thc charity hcld no invest￿￿¢ propcrties during thc year. Recognition of liobilities Liabilities aTe recognised ort ieh aCCTuals basis in *cordttnce llOTtnttl accounting principles, tmdifies where llec&%%ary in accordance w'iih Ihe 4kuidanc¢ ven in (he SORP. Resources Expended Expcndiiurc is rLxognisLd on an accnjal basis as a liability is incurre41. Exp-'ndimrc includcs any VAT which Cannot b¢ lully r¢￿Vered ar￿ is rew)nfyl pan o1theex￿ndItyre LO which it relatrs_ Irt pariiLular the policy for includittg iieJJL% withiti eosis of getterniijjg fu￿ts. c1￿1(ab]e activities and governance 15 Costs ofgenerotinglunds This coniprises ihe cost as50ciaied with auTaaiDg grants. donations and other volun￿ry inco￿.11 also includes any fundraising costs. Ckariffoble ￿tim11e5 Thi_4 Tepre%ent% thn%e co%t% incutTed by the charitv in the deli￿er¥ of IL% activjties and ￿TrICe￿ to il% beneficitirie%. li inLlude% LM>ih LY)Sl% thai caTh be all%es only Va]ue Added T&x ]% not r¢coi'eTablt by ihe compathy. and is Ihtref(Ke included in the relevani c4)sts in the Sta*ments Financial ActiN'iiie8. Funds slrnclurepDIicy The chdtity ￿lnE￿ill￿ a genetal unTe5tticted h]nd which tepTesents fund5 which are expendable at Ihe di%creiion olthe Tru%iee% in lurtherartLe olthe objecL% of the eharily. Such (und% Th￿Y be held in order to finance iM)Ih ￿"OrkIng capitsl and capithl invesiments. Re5triLled funds pmyided 10 the LhdTity fvi P4LrticularpuTPS)5¥5 it is the ps)licy of the Roard of Trusiees 10 carefull> nKJniior (he applicaiion of ihose Funds in ac£ordance wirh rhe testriction£ placed uw>n theTtL There is no fornu] policy ol IM]sfeT beNeen fun¢Js or on the a]lIK￿l0￿ of fullds ts) desionatrd funds other than that deqcrihed alM)ve. Any other pro￿￿ed 1rdnslerbt￿etn fuThJs would k considued (he particularcircumsthnces. Winditig up or di4solution ofthe tharity If up)ll willding up or dikwluiion of the chariiy there remain an% &g£eL%. afier ihe ￿li￿raCtIon of all debib dnd liabiliiies. Ihe ￿P[c)en￿￿ by the a¢¢umulated fund.shall be tranSf¢￿ed io some uiheiLharitsble b()dy ur b()die% hai"iThg sitnilat thjecLs Iv the charily. 12 FREEDOF+l'S ARK Notes to the Accounts for the year eDded 30 November 2023 3 IDeficitVsurplus for the Year 2021 2020 Rtvenut Turnovtr frntn orditi#rY #ttiiilits 486,434 405.047 and after charging:. Depreciation of owmed fixed assets Renia15 under operarino leases TTU8tee8' reTnuneration Pension costs IndeLKndeni Examiner's Fe£s 8,108 35.500 28.550 3.294 3.991 59.167 -10.47_5 2.657 Funds EYlon¥in¥ to the ￿h￿Tity been used foT the purchas¥ of insur￿nee 10 protect the chaTity from loss arisin(F frorn ncoleci or dcfaults ol Ils tnjsices. cmployccs or agcnts. or io indcmnify its TTu%ie¢%. employeeg or agenis aoainsi ihe consequen¢e£ of anv neoleri or defaulr on iheir part. The sum expended OD such insur4nc¢ was as indicatrd in the ahbve %hedule. Detailed analvsis of certsin tr￿L￿aL￿￿% required by the State￿ent of Re(ornn￿￿ded Prnctlte for Ath)untlDg and Reporting Issued bi the Charlty for England & Waks V￿ou￿ iietns uf sUPPUn CO515 Lh￿[able expendiiure which dre required b). the SORP tu be disclosed in (he noic% 10 (he accouni.q are *1 oui in ihe tkiailed ￿hellul¢ 10 (he sth(en￿nI of Financial A¢tiN'Jties and its app¢ndic¢s from page 19 ￿h1¢h.￿hould b¢ tead rogether with these notes. My&terial legaci&s that have heen notified b￿l included the StateMe￿t of FthAtttAal Arth￿11￿ There were material legacies the ￿ri(￿L InVeStn￿￿t IDcume 2023 2022 Other bank deFx)sii ij)reTesi received 308 Anal)'sis of grants paiable in furtheran￿ of tbe cbarill's objetts All granifi paid in furth¢ranc¢ to ihe charlt) s objects u¢r¢ paid Lo chaTiiies with similar objecL% both in the UK and oY¢r5W. Deferred Incoming Resources & Reserves- RestTictsd funds Opethg Deferrals Reitastd from prior years Reteived less released in lear Deferred at year end Sundry iiems under £l(KKI Total 81.889 81.889 12.289 69.6(K) 69.6(M) 13 FREEDOF+l'S ARK Notes to the Accounts for the year eDded 30 November 2023 2023 2022 These deferra]5 are included creditor5 69.600 81.889 8 Siaff C￿ts and Emolurnents 2023 2022 Gro%s Sa]aries Einployer'i Naiiondl Insurance Pension Contrihution 16i,I90 152.880 -1.176 180.481 166.195 Numbers of full tiTne tmployecs or full tirnt fqvivaitnts 2023 2022 Engaged on chdTitsble ￿tilltieS There wEre no etnplovees with in excess of £f￿1,{￿￿) wannu]n Remuneration ottrystees and person5 connected with trustees 2023 2022 Remunertilion payllble lo lrnstees orconnectedpeTSORS Rev O L Obunge Total remllneration 28.550 28,550 30.975 -10.975 Employer's NutioNallnsunince contsibulioRs Pensitpn payments relaling ¢0 trusle¢s or¢onNutrdperson5 Rev O L Obunge 668 719 RernuneTdliun Pdid lu Rev O L ObunEe fui &etVILes ca￿l￿d oui on behalf Of the TnL5t in ￿'ith Ihe Tru.$1 De&l. 10 TruMco4' Rernunerntion No tru.8trcs or ￿r$onS connectrd with the￿ other than those shown aiKJVe. received any remunuaiiotl. 11 Tanglble ￿¥ed &wts Freehold Land and Ma¢hiner) & buildings Vehicles Tolal Asset cos¢ Traluation or revalued amount At l December 20?? Additions 107.-YJl 222.7(KTr 20.458 20,458 135.803 At 30 Novemt¢r 2023 107.361 243.164 14 FREEDOF+l'S ARK Notes to the Accounts for the year eDded 30 November 2023 Accllmuiated depretiation and impairnient proFisior At l Decembtr 202? Depreciation on reva]uation ch￿gl foi thL At 30 N0ve[n￿T •0?3 107.3( 103.374 210.734 8,108 111,482 8.108 1()7.360 218.84• Net book value At_30 Nove[nI￿r •02_3 At 30 November 202 11.970 All osseis are used fordirett charithble putw>ses and thete ate tho itia]ietiable 01 hetithge asseis All 3re uRed fordirect chatitsble PUTPDSe_ 12 Owed by subsidiary undertakin 2023 2022 Owed by subsidiary 20.67.5 ?0.675 13 Subsidiary undertakings During the Ye￿ undeT Teview. the Lhdriiy hds a whvllv owned trddin¥ subsidi[￿ The Diedrn Centre LA)ndun Limiied (company number l(Tr.S(KJ7451 wih IlJ)* o( iis %hare capithl atbd Voling nghi%. The principal aciiviry of Thc Dream Centrc LA>ndon Limiied is property rcnia] and Managen￿l. 14 Deblor5 2023 21122 Trad¢ debLor8 Amounts due Subsid￿ undetthkings 4?.9.34 23.651 7.3.126 20.675 9.3.801 IS Creditors: arnounts falling within one Year 2023 2022 Trade crediior% Acctued eipense£ 11.5.4191 1.34.9861 2.5%0 10.829 81.889 60.31? PAYE NI i,861 69.6rJ) Deferred income and ￿ants in ￿Vance 15 FREEDOF+l'S ARK Notes to the Accounts for the year eDded 30 November 2023 16 Atudysis uf the liet ID 2023 2022 Net movetnent in funds frotn Statetnent of Financial Aciiiitie NLI rLyullfcLS ￿￿p]led on funciiundl fixed asscts Net movement ID funds aTriilable for ful￿re actiiities ,192 120,4581 119.?661 124.4671 1?4.4671 The net resources ttpplied on funciionttl fixed assets and the nd inle￿T[￿1 in programme relaied inve51menis rcprcscnis the cost of addiiions less pft￿S of any dis￿￿&[$. 17 Partitu]xr5 of Individu￿ Futtds xttd 0(a￿ts liabiliiiLS ￿pr￿sentin% funds At 30 November 2023 Lnnslricted DesIg￿led R(str￿ted funds rund5 Total Funds Tangible Fixed Assets Curreni A55eri CutTent Liabilities 24.322 120.513 163.2821 81.ii3 24.322 ?85.598 16_1.2g21 246.638 165.085 16_i.085 At l Detember 2022 UllreslrlctLd Dl￿8￿&1ed R(st￿le￿ Total Tangible Fixed Asgets CutTenl A%%ets CurrLni Liabililics 11.972 130.140 114).31?) 81.¥(M) 163,646 293.786 160.3121 245.446 16.3.646 Funds at 2022 Movernents Transfers Between funds Funds al 2023 Funds as below Genernl Fund Benevolence Building Fut Food B￿k 57.449 12461 6.5?? 17.775 48.011 123.6?7 ?46.638 128.711 ?45.446 15.0841 1.19? Anal)'sls ofmovenhents fllnds ￿ Show￿ in the l*ble above IDCOnJi Out%ninE cra1￿$ & lovtment in funds Gerter￿ Fund Benevolence Fund Food Bank {?461 10.810 74..371 486._i_i_I 4.288 279.455 48_5._161 15.0¥41 16 FREEDOF+l'S ARK Notes to the Accounts for the year eDded 30 November 2023 The General Fund is Utire5rriCted Jnd is used foT the general tunning of the chatity. The Bene%'olerti Fund is used mairtl). io assisi membets olthe chuTch who are in need. The Building Fund is used i0￿.ardb (he rnainienance of the church premises. The Food Bank Fund is ll￿d to feed those in need. Sufficient re￿U￿¢t4 are held in an appropria* lorni io enabl¢ each lund io k applied in accaTdance with any re%trictioTh%_ 18 Endowment Funds The chatitj had no endo￿￿￿1 futKis in the IraretKied 30 NoNe[nI￿r 202.3 01 in the ye3T ended 30 NOVem￿r 202? 17 FRF.F.IK)M'S ARK Seheduie io the Statement ofFinaDcial ActiTitiÉs rthr theyEar ended 30 ￿¢￿Trember 21IZI FU￿15 FuDd5 J12J Totsl Fu￿a5 1022 23 23 lrtti)ming Rt%ouriY4 Volu￿tAr￿ Income ti0Trtr￿lMVnt p￿bIt Wi Tnco]nin%re50urtt5 revenue ￿athre Iniumc 45&4.U 4￿￿31 48&4.M T￿1￿1 T￿la1 Gra￿1￿LE%￿ries & Donatio￿5 Rgrtived 201JJ ,Ixi 4￿,04? 40?￿47 Tots] Voluntary Into￿le 201 l]Jiestment Income Olh¢rbank (ktwil In(crcs1 ￿(rJ¥C0 Trtal I￿ve5th￿￿t I￿¢￿Tr To¢a] Incon￿1]g Rwurccs 2O1J72 2¥S,1¥1 4W53 Jss C&5ts of generatingfunds Charltable expendllurÈ Cosls o1￿Cli¥JIleS olihtchrritys ￿Je(lIVe5 Costof %upplK IuRi W12 3upP¢)rt¢o$ts4f¢htyrn￿Iel¢•¥I4eI GD)44 %*l#tj¥- ¢h#rithle &nI￿li¢S 136.840 I21.￿5 9.939 2.657 EmplD)rr% Nt- Chxrithlr￿l1%1TIC5 Pcn%inn contnbuti0Trs rharitabkcrnpb)rc5 VoluTricct5'C05ts 8.84) 2.723 233 Function Co#5 13Wi Travcl and %ubsistuKc 5.146 5.4_I_1 MotorcKFtnscs 7A16 1W- 21.091 13224 18 FRF.F.IK)M'S ARK Seheduie io the Statement ofFinaDcial ActiTitiÉs rthr theyEar ended 30 ￿¢￿Trember 21IZI FU￿15 FuDd5 J12J Totsl Fu￿a5 1022 23 23 Pr¢Mts¢s Cd%ts Rent ￿Yable Rate& water seThicecharges Tn%uranL 4&150 M369 35. 638 638 22.056 7.677 Lighldlld heat 3.9x3 h39 1321 SerVi¢eCharges W74 55J61 I￿435 119m7 TCIcphc￿ and fL StatsoncryaThl printine tnfotTnaUon Jnd wblicati￿￿ Subscription Equipment eX￿n*S Hire ofequipment CainpuW r(K%l% AdsertisingaJM1 PR Bank ¢hO￿¢ sundryeA￿nSes 4.88_1 7.742 3.539 -1.615 4S9J 076 l4• 3.533 429 1.1 3.39) 910 993 4.795 29.& 25.7 Pro[essivMlftes consi11L￿rY fcc5 Oihcr L£gal fcc￿ & Profes￿onal ManagcmcTrL fcl Depreiiauon of fixed &￿tsUSedforgowe1ll 50518 34.475 1.473 6.6%? 6.398 2_951) 5_774 2J_Trl ¥.11 7&319 3.YYI 76 BeneNolertce li¢)? Honorariuni 13.847 J7JM6 JW3 161 269261 370J76 19 FRF.F.IK)M'S ARK Seheduie io the Statement ofFinaDcial ActiTitiÉs rthr theyEar ended 30 ￿¢￿Trember 21IZI FU￿15 FuDd5 J12J Totsl Fu￿a5 1022 23 23 Total Expended oll Charitabk A¢tivilie5 171.A)I 454.343 39&688 Gtsverndrt¢eeosts iltotdre ￿￿￿trertMll*Q$t￿t#I/mhCI￿￿5 i#here#ii#geMer*i#g fwids. sÉrvitedtliptry andprogrommt orproi¢tiwwk .SpecifwgoveFJMftc¥cos£r Tniilcc4 rcmuncralion 285Y) 3Q975 Independent Examu￿￿5 Fees Total governance costs 118 Jl.018