Smalles Goldie Group CqEAIING AI)¥1411TAGE ReGI8TERED ¢OMPANY NUMBER: 04012143 (England and Wol•sl REGISTERED CHARrrY NUMBER: lo•47 The Freedom Community Trust Limited Consolidated Financial Statements 31st March 2022 i) iCAiW CHARTERED ACCOUNTANT5
Th• Fre¢dom Communlty TnMt Umltsd Content¥ olth• Fln¥ncl•l St•tsmonts for the yur ended 31st March 2022 R•fornnu and Admlnl•tr•tl¥g D•tsll• R•port ofth• In•0 R•port of th• Ind•p•nd•nt Audltor• Coniolldatsd Ststsm•ntof Flnancl•l Actlvlu on•olld•t•d B•line• 8h••t 10 CharY 8•l•nc• Sh••t C•Bh Flow 8t•torn•nt 12 Not•• to tho CA¥h Flow 8t•tern•nt 13 Not•• to th• FlnNneknl 8l•t•m•nt• 14-23
The Fre•dom Communlty Tnmt Llmlt Refar•nce and Admlnl•tratlve Detall• lor the year •ndod Jl•t M•rch 2022 TRUSTEES S J Alhoft J Boyd H C BgeS S L HatliBld S P Jackson H McConn•ll R Nomsn Re¥ R P Phillips S Sh•pp8rd A M Thornpion (appointed 25.05.221 COMPANY SECRETARY S Garnelt REGISTERED OFFICE Th¢ Freedom Centre 97 Pre8ton Road Hull East Ycrkshire HU9 3Q8 REGISTERED COMPANY NUMBER 04012143 IEngLqnd and W81•11 REGISTERED CHARtrY NUMBER 1094807 AUDrroRS Sm8ik•8 G¢ldi Chartered ACunts StalutDry Audltor Reg•nf8 Court Prtne•8• Street Hull Ea81 York4hir• HU2 8eA BANKER8 York¥hire Bank PIC 214 HOeMe$S Road HU9 2A4 Page 1
Th• Fmedom Communlty TN•t Llmlted R•port of the Tw•ts forthe year•nd•d 3tt Y¢h 2022 At the end of 2021-22, all Jow that the grip that Covi&19 hag had on all of oui lives started to relax. The days ol bein9 required to remain In our home8. and the done by the FCT in partnernhip lth EMS, local politsryan•: and tho 9•neIrtY of organisati008 such al Crans%wck foods, that keep so many pecple going, Seen I'ke 8 long bm? Ago. However, e¥8n tlwh restn"cb'onJ lifted, the impact ofthe pandernic continued to be feL Vthilst eryOne wu 811th4td to a0¢{ate freely, our commurib"88 told us that Ihey remained LY)nc4rn Jbout goiry 0, •weaally thoM ¥th health vulnerabilib'u. We thiB our ¥Itor nurnbern and In the djity tr&ling ol Iradry c4Jnpany, wl¥ch i• Lvnllnualty I1.n lignifinlY less than belorg Ihe pandornic We recogniBed that the Bituation was unlikety to TMOe quid(ly, and th8 board apwo¥ed a three-year •trategy to focus our limited re•ource• on areas m1 likety lo generale suBtainable •ucCe.. 2022.25 Our three year 51ratÉgy will help steer us through challenging times help us recover flnonclally frDm the pandomic. We will keep ir under ctsntinu•l review Brid ch•nx it as needed. W• •lm to b• the belt We wlll locus on supportin8 familiés and older people str•i• We wlll hw• a'ont te•m' •pprtsxh to s•r•lce dll¥•ry Praperty 5tra¢esy We wlll be a SUPPQTtlvi partner, provldlng well rnalntalned properties as part ol a wlder system ol beneflt5 on-51te and in the local area We w511 monltor our pro8ress by mpasurins customev le.dbaik. revenue. funding support attendance levEls lor our acrivitSes •nd events. Created follwnB extenswe Btakeholder and o)mrnunrty coniultation. our &trategy is to for on lthat 7Ae do bert wo 88 8 dose partner lo our tenan18, and work tether as a Single team a¢JoM Ihe organisalon. By foryJwn9 restrJrcth. belN8ve get tett•rVutrlmeS forthe community in the longer te. Whi19t we don't kn(w whatwill cAJme next, v* do know thotthe thalknnge8 wrfl ts)nlnue, fmm thwis that can atready Page 2
Th• Fmedom Communlty Trnst Lirnited Report olth¢ Truote for the yearended 31•t March 2022 see - such as the lonptemi impad of the war in Uk(aine and tho c05t-014iwng inc¥eases Iwhich Indje the ¢$t of running builth'ng8 and organSsaliong1 to things we eanl yet antiapate. ateVer happens. know that our communitses nged u$ and mntinue to 3upport them long Into the futu. Sue Sh•ppard- Chalr CH PERF Even Ihough have a deffnitive Bpecific I0s, continue to deliver acr066 all of our charrtable objectives, W0n9 hard to rne sure that we meet and e¥ed the responwbilibes placed upon us. Our highlights indude Ibut ar8 not limited tol.. The relief of Ftherty and un•mploymant We continued our wotk with EMS to continue the success of our food project, with ever more mernbers joining and furthei ¥upport offered ty the busine89 community. We Succeeded in securing a tsvo-year exiension to the Project thanks lo iuppttrt from the national lottery and Places for People. We remain indebted lo Cranswck foods and partners for their conllnued generosty and support. We continued our commitment to invest In the CLLO programme PR08E and we pleased to see lome ofthe best results amongst provlders frorn acro8J the city, wth people from our communits'e8 beneflling from new skills and wod( opportunities. We began a number of projects, wlth Some al the d&lSv&ry and other8 l the plannlng stages, to help people in our communities cope wlth the co81 of living, such as Clean Kid8- a hygiene support programme that ha• provided malerlal8 for children and families to keep clean. Working with schools aB well as the Freedom Centre we have seen an incredible uptake. The advancAmenl ofed4Jcat)n, training, or retraining We conllnue the support of adult edu¢8tion, library, and community ICT services to and ensure that are commun'e5 gel the best access skills 4nd training. The provision offinanaal alsnce, téthnirxl JssistaTr, advilory and ¢ounsellin9 8ervie•i, buine6s advice or COultaneY Support given to Btart-up bu$ine$$e8 Induding technical and flnancial •upport. This included help lo accesg covid support grants lo ensure they could conUnue lo operate through the pandemlc. Support for youth enterprise continues along wlh support for rAre leavers to accejs work and other related support. The providon olfarylities for crealional leiBure tirne and the organisabon of lSUre aL'vi11•8 Supported the work of the Freedom Centre to deliver recreab'onal f•cilith'es and positive 80cial experience¥ Saw Covid safe pantomlmes and family activity¢8 return, providing much needed relief in diificult times. The protection or conservation gf the environment We continued our programme to introduce LED lighbng. We also introduced other measures such 88 PIR sensors to shut off lights when aa5 not in use. Improved signage reduced the preservalon of water. The holding of exhibibons. meetings. etc. In person meetings relumed and we look forward lo these increasing as confidence grows following the end of re8lriction8. The promotson ol safety and prevention ol oime Work with all agencies including police, housing providers and local authority COnnueS to address isgues. Pwe3
Tre FOrn C•mmunlty Trn8t Llmlt•d Report of th• TrnStl for the year onded 31•t Atsrth 2021 ACHIEVE ENTSAND P RF RMANC Ob •ctlv• The promotion of health and healthy lile8te0 FhqhAtw• We provided location 8UPPOrt to a wide range of health promotion charlties and the NHS to spread po8ibve messageB aboLrt healih. Our eofflmunty gym continued to provide an eXcepOnal value service to its member8. Our café provide(I IowwCOSt hi9lwualty food for the communlty. FINANCIAL REVIEW NANCI AND RESE The chanly'8 Incorne for the year ended 31 March 2022 was £659,735 12021.. £703,068). The net outgglng re80urc4• •mounted lo £1,129,89812021. £1,154.7291 r¢sutting in 8 defidt 01£470,16312021'. £451,861). The ch8nty had unrestrithd re9 of £8,398,438 12021.. £8.872,0991 and restricthd meNe• of £19,832 12021.. t16,3321. Taking Into arLwnl the nature of the tharity'8 incame 4tre#m8, the tru8te88 are of the ¥igw that reseryes at the8e leval8 are 8uffldenL We incea8tng dernAndÉ lor 8UPPOrt, rf•ing deliry costs and eontinued preMuf¢ on revenue•. Howéver, we wll contsnue our ccffjrnitment io delivef our obj'eth'vei. We Are hopefully that providero ID th? fundlng MathetlI b• retumi to 8UPPOrt community priorits¢8. Ob •ctlv• The relief of pov?rty 8nd unemployment Our Vve wll contsnue lo work w41h partners to improve opportunities lo ac98 8klll8 and find employrn•nt. Continued partnering with EMS lo help reduce household expenditure on utllitse8 ond food. reducing povety Continue to partner with PR08E and other• to 8UPPOrt sklus and employability We wll conllnue to provide accornmodallon for the Adult Education Facllity at the Freedom Centre Th• advancmenl of •duon. trainlng. or retraining We wll support Hull TraSnlng and Hull College to increase acces8 10 tralning for local resldenl$ The provision ol finJnuBI a*nCe, lechniral a881stan. advi80ry and counseuing 8er¥icei, bu5ineai advice or con8ultsncy We will be supporting the Cl0¢4110n of voluntary groups. ¥lart4JP bu8ine$5es or other thifd sector organisalions. We wll do more to cOrdinate actlvity and share infomalion. We will give opportunities lo people supported by Ihe youth enterprise work we do in the dty where it is appropriate. Supportlng the work ol the Freedom Centre to deliver recreational facOlSbes and positNe soclal experience8 The proviwon of faalrties for recreath.onal and leisu tsme and Ihe organisation ol i8ure aGltI"eS Develop existing community groups Encourage new community groups lo form The prolection or conservation of the environment Working with partners and olhers to explore ways of ensuring the devek•pment toward8 Sustainabillty of the local environment Page 4
The Freedom Comrnunlty Trnst Limiled R•port olth• Trust•e• lor th• ye•r end•d 31st Ilareh 2022 RE PLAN Our l¥n• Supporting the Freedom Centre to provide exceptional qualty lacilth'e$ to the benefit of the wder cornmunlty The holdin9 of exhibitions, meetings, elc. The promolion of publie safèty and prevention ol crime VJe will Seek improvements In the security ofthe aa working closely wth agencies Such a8 the police. The prL¥nobon of health and heaKhy life9lyS Supporting or co-ordinating healih promoting charities. volunteer groups, statutory bodies, and the objectives of national programmes. We will be relaunching our gym wlh new marketing materials, offers to 8UPPOrt SL181ained membership and rellodUcing exerclse cJa¥se$ that 11 be available to more peoKde than ever before. STRUCTURE. QOVERNANCE AND MANAQEMENT Go¥•mlng document The charity 18 CNtrOlled by itg qoveming dopjrnent, • deed of trust, and constituteB • limlied company. Iimfted by gu•r8nlee, a8 defined by the Companies Act 2006. STATEMENT OF TRU8TEE8' RESPON518ILITIES The Iru8lees (who are a180 the direetor8 of The Freedorn Communty Tru•t Lirnited for th• puoSe8 ol ccfflynylowl are re8pon8ible for prnparing the Report of the Tru•lee8 and the fin4noal itatement8 in aecordanc* appllcabkry law and United lQ'rrfJdom Accounth"ng Sland¥rds (Uniled n9dorn Generalty A¢pIed AceL)unbng Prnclicel. Cornp•ny law r•quirei the tru8lee8 to pr¥pa finjncial slat•m•nt# lor each fin•nd•l ywr whkh give a true And f8ir vw of the slate of affairs of Ihe charitable cornpany an(J ol the Incorniry resources And appli110 of resour8, including the irwme and expendlture, of the chadtable company lor that period. In preparing th8 finanryal 8tatom8nts, th• truslee8 requirnd to le¢t 8ult8ble 8¢counling politseJ •nd then appiv them eonw8tently', ctjserve the rnelhod6 and princples in Ihe Chadty SORP., rnakeludgements and e8timateb Ihat are reaoonable And prudent., epaffj thé fin¥no81 statementi on the goin9 basis unlu• il l• In•pprvprt¥te lo presume th4t the ch•ritab company will continue In bu8inDJ•. The Iru8teeJ •r¢ re8pon8lble for keeping ptrjper aco)unting recorth diJc$) with re88onabl• •coJracy at any tirno the financial p0611ion of the charilable company and to en8ble Ihern lo On8U Ihal the fingna4151at¢ments comply wlh the Companies Act 2006. They are ¥lBO respon51blo for Bafeguarding lh• 88Bel8 ol Ihe tharfl8ble Eompany and hen for lakSrrfJ eable step8 for the prevention ond detedK>n of fraud and othar lTheguI¥re$. In go far a• the truBtee8 are Aw•r•'. Ihere 18 no relevant audrt inlonnation of which Ihe tharrtable company's auditor8 are unaware, gnd Ihe trustees have taken all step6 that they ought to have taken to rn8ke themselv85 aware ol any felevant audit Infomation and lo e8tabli8h that the auditorn are •ware ol that infornaDon. AUDITORS The audilorg, Smal8 Goldie, will be propos for re4ppolntm•nt at the forthcomlno Annual General Meets"nq. Approved by order of the buard ol thJstee$ 2022 and signed )n its behallby.. S Sheppard- Tru$tee Page 5
Report ofthe Independent Audltors to th• MemlJer• of The Freedom Community Limited Oplnlon We have audited the financial statements ol The Freeclom Comrnunity Trust Lmited Ithe parent 'charitable comparsy'l and its subsidiary (the 'group I for the year ended 31 st Marth 2022 whith comprise the Statement ol Finanoal Activities, the Balance sheet, the Cash Flow Statement and notes to the financial statements, Induding 8 surnlllary of wgnific8nt ccounting poliues. The finanrAg1 porting Iramework that ha5 been appli in their preparation is zpplicable law and United Kingdom Accounting Standard$ (United Kingdom Gen¢>rally Accepted A¢rounts"ng Practice). In our opinion the financial 8tat8ments' give a true and tsir view of the 8ts19 of the parent tharrtable ec17)pany's affairs a5 at 31st Marth 2022 and of thè group'8 incoming resource5 and appl¢cats"on ol resource8, including its income and expenditure, lor the year Ihen ended., have been properly prepared In acLordance bmth Unite¢J Kingdoffl Generally Accept•d Accouniing Pracke., and have been prepared in accofdanr with the reqU1MentS of the Companies Act 2006. 81511 for oplnlon We conducted our audit In accordance with Intem8lion?I Standard5 on Auditing IUKI IISAS IUKII anrl appIlble law. Our re$pan8ibililie8 under those standards are further 4Jescnbed In the AuditDf5' responsibilit8 for the audit of the financi stalemenls section of our POrt. We are independenl of tho grDUP 8nd parent charitable CLThpany In accordance wth the 8thical requirements that are relevant io our audit of the group finanri81 $lalemenls In ihe UK, including th? FRC'5 Ethical Stsndatd, and we hav8 fulfilled our other ethi¢81 regponsibililies In accordance with these requirement8. We b8li8v• that the audit evidence we have obt8in¢d 18 sufficbenl and appropnate to provid¢ a balis for our opinion. Concluslon• rfrlatln9 to golng ¢on¢ern In auditing the financial 5taternent6, we have conduded that the tru¥tees' use ol Ihe going concern ba ol ac£ouThling In the preparation of the finanoal statements IÈ approprfat8. 88J¢d on the work we ha¥e performed, we have not idenbfied any material unurtalntl8s relat)g to •¥entB or conditiuii that, Individualty or collectively, may ca&¢ Significant doubl on the p8rent thBrItab eompany cf subsidiary group'8 abllity to eontinue a5 0 going concem for a penod of al 18ast ts¥elve month¥ frorn when the financial statements are auth0ri3ed f¢r Igsue. Other Infomiitlon The trustees are re8ponsible lor the other inlofmaJon. The othar Inlorrn8tion compd8e8 the inf0m)atn induded in lh• AnnuBI Report, olher than the financial 8talemeThts and our Report ol the IndeFendent Auditcfs thereon. Our oplnion on the group flnanaal $18tements does not cover the other informatlon and, exc4pl to tho extent othemi •xplicitJy 8tBi•d In our report, wo do nol expre58 any fom af assurance conclusion thereon. In connection wth our Hudrt of the group finanrial stalgrnent$, our re3ponaibillty 18 lo read the other infornation and, in doing Go, conslder whèther the othér infermation ij materially inconsi3lenl wth the fin8ncipl si#iements or our knovledge obtained in the audit or otherw¥e appears to be matèrially mis3laled. If we Identify such m8lenel incon5151eneies or appgrent m8t?rial rn155tatements. we are required to determine whether this glves riBe lo a rnalerial mi8Flalernenl In Ihe financial slalemenl8 thèmselve8. If, b88ed on the work have perforrnod, we condude Ihot ther8 Is a maleriol rni581gtement of thi8 Other Inform8tson, are required to r•port that fact. We have nothing tD report in Ihis regard. OplnlonB on other m•ttern pre•crfbed by th• Comp•nle• Act 2006 In our opinion. based on Iht work undertaken In the course of the audit.. the inlomation given in the Report of the Twstees lor the fininrial year for 1th the fin8ndal 8taternell a prepared Is consistent %Mth the finanryBI statements., and the Report ol the Tru8lee8 has been prepAred In accordan¢e wth applic•ble legal rnquiremenls. Matt•rn on whl¢h we Are requlved lo report by ¢xcoPtlon In th• light of Ihe knOedge and under31anding of the grDUP and p8rent ehantable company and ils gnvironment obtBined In the course of the audit. we have nat identifigd m8tprial mi9statenls In the Report cf the Trustee8. We have nothing to Teport in re¥peEt of the following matters wher• the Companies Ad 2006 qUIreS us to report to you adequ8te accouTrting record8 have not beèn kept or luMS adoquate for our audit have not been received from branches not v¢sited by us,. or the group financial st8lements are not in agreement with the accounting rewrfjs and return8,' or certain disc105ures of Iruslee8' remuneration specified by law are not made, or we have not received all the infornation end explanations we require for our audit., or the trustees were not entitled to lake advantage of the small companies exernption from Ihe reqU1ment to prnpare stratègic Report or in preparing Ihe Report of the TnJ8t•ts. Page 6
Report of the Indepvndent Audttors to the Members of The Fr•edom Community TNst Llmlted Re8p0nslblllts ol trugttts As ÈxplairEd more fulty in the Stat8rnent of Tfustee8' Re8ponsbilitie6, the trustees Ivtho are also the directors of the Charitab comp8ny for the purposes of company lawl are responsible for the preparation of the group finanaal Statements and for being satisfied that they give a true and fair view. and for 6UL internal contiol as the trustees detemiine is necessary to enable th• preparation of group financ4al Btsternents Ihot are free from materi81 misBlatement, whether due to fr8ud or error. In ppang th8 group finandal statements, the trust3 are re6p¢)nsibl& for 858e88ing the charitable company'5 and gTOUPS ability to continue ay a going CDncem, diselosing, as applicable, rnatlers related to going concern and using the going contsm ba$1$ of accounting unle88 the Iruslees either intend to tiquidate the qroup or parenl cheritable company or lo ctase operation8. or have no realist altemative but lo do 80. Our rn8ponslbllltle for the audlt of the Ilnanclal •tstsrnonts Our objectives are to thtain rea3onable assurance about whethar Ihe financial statements as a whole are Ire8 Irorn rnaterial mis8tatemonl, whether dtse to fraud or error, to issue gn auditor's report that Indudeg our opinion. Rea$¢nable assurancè is a high Ipvel ¢1 as8uran bul Is not 8 gu?rgnlee that 8udil rmducted In accordan wth ISAS IUKI will always d¢t¢ct a matenal misstalemenl when il exist5. Missl8lem&n15 can arise frDm fraud or error and are ¢on8idered material if, Individually or In the aggreg8le, they ojuld rea8onably be •xp8c¢ed to influence the economie d¢riNions of usern taken on the basls of those financial Statements. Th Irregulari118$. induding fraud. are In8lance5 of non.complianGe with laws and regulaON5. design procedur•$ In line with our responsibilitses, outlined above. lo delect material misslalaments in respea of In8gul8rities, induding fraud. The extènt to whld) eur procedure$ a capable of detecting Irreguhnlie8, indudino Iraud 1$ detailed below.. Our approach to identifying an¢Y as5es$ing the ri8ks of mat?rlal mi88tstement In respecl of iryegularitie8, includinG fraud ond non-compliance wlth laws and regulation8, was locused on specific laws 8nd regulations which we considered muy have a direct material effect on the th8rily only and eon801idaled financial stat•menls or the operatson& Df the chafiiabl8 company and the group, including the Companies Aci 2006, the Charitie5 Act 2011. data proleclion, anli-bribery, employrneni, fundraising regulations, health and safety l¢qislation, health and &oci•l Ca regulations and chlldcare regulationa. An understanding ol these laws and regulats'ons and lh¢ exlenl ol compliAn¢e WB$ obtained through dlscu•tsion vAth rnanagBrnenl and ingpecbng l•oal and regulatory cDrre3pondence. asse5¥ed the $u8c•plibilily ol the thafitable compony's and consdidated finanoal statements te mat?ri•l missialernent, includlng obtaining 8n underst8nding of how fraud rniyhl 0Ur, by making •nquirie$ of m8nag•m•nl and eoniiderin9 Ihe inlernal conlrob in place to milvJBle rith5 of fraud and non-compliance with laws 8nd gUIll¢n3. To 4ddres8 the risk ol fr8ud through rn8nagernent bi•B and overrid• ol ntrOl6, performed analyti¢al procedure8 to id•ntify any unu8U81 or unexpected relationship•.' te6ted joumal entries to identify unusual tr8nsaction$', a8seg8ed whether judgemen18 And 358umplions mado in Jelennining the ae¢ounting e•timate8 wre indiutive ol potential bia8. and investigated Ih? rationale behind iignifirAnt or unu•ual tran8aCtionB. In re8pon8e lo the ri8k of irregularities and non-cornplianco th laws and regulaliwB. de8ign•d pracedureB which induded, but were not limited lo.. agreeing tharity only and con$olid8ted finanoal statement disdosur•s to undertying SUPPDrting d?cumentsllon, reading the minute8 of m•eting8 of those charged w+th governan,. enquinng ol managernenl as lo actual and potenb'al1rt19ation and cla1rn8,' ancl reviewing correspondenrx with HMRC, revant regulators and the charilat4e company'8 legal advisors. Due to the inhèrent limitations of audit, there is a risk that we will not delecl all ITregularities. including those leading to material rn1951aternent in the financial statements or non-compliance Wlh regulation. Thiq risk Increa5e9 Ihe more that compliance with a law or regulallon Is removed from the events and tran5action5 reneded in the finanoal stalemenls, as we wll be less likely lo become aware of in$lances ol non-complian. Auditing 8landards also limit the audit proceilures requirtrd io Idents'fy non-¢ompli8nce wth laws and regulations to enquiry of the d1CtorS anrj other management and th• Inspectlon of regulalory aThJ legal corspOndence, if any. The risk is also greater regarding Ifgulat*S Dccurring due to fraud rather than error, as fraud involvès intentional concealment, forgery. collusion, omission. or MisrepSent3tI0n. A further deswption of our SpONSibl11t1es for the audit of Ihe finandal staternen19 is located on the Financial Reporting Counal's website at.. ww.frc.org.ukl8ud1tornSPons1bI11t1e5. This deS(PIlon forms part of our auditDr's report. P4ge 7
Roport of the IndependentAudltor• io the Membarn ol Tho Fr•edom Communlty Tvu•t Llmlt•d Use of our report Thi$ report 15 made Soltty lo the charitable e4mp8ny'8 members. as a body, In aceordancs with Chapter 3 of Part 16 of the Cornpanies Act 2006. Our audit work has been undertaken so that we might stale to the charitable group company's mernber5 those mallets we are reqUId to state to Ihem in an auditOT5' port and for no olher purpose. To the fullost extent permitted by law, we do not accept Dr a8sume respon51bility to anyone other than the tharrtable compary Ind the chari¢Jle company8 memrn as a body, fw our auditworK for this reporL orlor the opinions we have forned. Lre Taylor 8Sc(Hon81 ACA (Senior Statutory Audittyl for and on behalf of Smalle8 GoPJie Chartarad Attountania ststutory AUdOr Regent'5 Court PrincesB Stmet E89t York8hir• HU2 8BA 21 November 2022 Pag¢ 8
Tho Freedom Communlty Twat Llmlted Con6011dated Statsment ol Flnanclal Actlvltlea lor the year •nded 31•t March 2022 2022 Total fund• 2021 Totsl funth Unre¥trKled fund Regtricted fund Notes INCOME AND ENDOWMENTS FROM Ch•ritable actlvltl•¥ Grants and donation8 33,108 3.600 36,808 137,289 Inve$lrnent incomo Trading activities Other income 478.883 146,244 476,883 14f,244 491.821 73,658 300 Total 666,236 3,600 669,736 703,Ck$8 EXPENOITURE ON Rai9 lund¥ 102.06• 102,619 83,728 Charltable actlvltle• Comrnunily ieTViCe8 & lacilil¢i 1,027.329 1,027,329 1,D91,001 Tot•1 1.129.891 1,129.898 1,154,729 NET INCOMEI{EXPENDITUREI 1473,0831 3.600 1470,1631 1451.8611 NET MOVEMENT IN FUNDS 1473,6631 J,soo 1470.1031 1451,6811 RECONCILIATION OF FUNDS Totsl lund• brought forwird .872.099 16.332 •,888M31 S,340,092 TOTAL FUNDS CARRIED FORWARD 1398 436 418268 8,888,437 CONTINUINO OPERATIONS I Income and exPendUre ha$ ari9en frorn continulrwa activrties. The ilatement ol fin•ndal advlts'eB indude8 all 98in8 and1088e9 r•cognised in the year. The notes form part of these fin8nri81 statements Page 9
The Freedom Communlty Trust Llmlted Consolldatsd Balanee Sh¢•t 31*t M•rch 2022 2022 2021 Note FIXED ASSETS Tengible assets 14 7 998 035 8471575 CURRENT ASSETS StocJ( Debtors Cash at bank 2,086 66.118 4S1.684 1.990 78,055 511,667 17 611,768 591,712 CREDITORS Amounts falling due ¥Mthin on• year 18 198.6361 I174,8) NET CURRENT ASSETS 418856 TOTAL ASSETS LESS CURRENT UABILITies ,418,21 8,888,431 NeT ASSETS 8 418 288 8,888 431 FUNDS Unre8trict•d funds Re8trl¢t•d fund8 20 ,388A38 .872.099 TOTAL FUNDS 8 418 288 8 888 431 The flnand•l 8t¥tern•nl• were approv•d by the Bo•rd ol Trustee¥ •nd authoriged for isw• on nd 8vJned on rt8 beh•ll by.. 2022 S $Pp8r(l- Trusfe• The notes form part of these financlal statements Pag¢ 10
The Freedom C¢Jmmunlty TFu8t Limlted Charlty 8al&nco Shoet 31Bt M•r¢h 2022 2022 2021 Notes FIXED A8SETS Tangible assets Investrnents 14 15 7.986,273 10 8,457,175 10 7,986,283 8,457,185 CURRENT A8SETS Debtors Ca8h at bank 17 17,623 336 381 39,323 342,420 364,004 381,743 CREOITORS Amounts falling due wthin on¢ year 18 114A781 144.7841 MET CURRENT ASSÈTS 339 629 TOTAL ASSETS LE88 CURRENT LIA81LITIE8 8.326,812 8,794,144 NET ASSET3 326 812 FUNDS Unre8trict•d lund• ReBtrfcted lund¥ 20 8,306,980 8,777,812 16,332 TOTAL FUND8 326 812 The fin8n¢i•l ¥t•tements approve(J by the 8oard ol Truslo•8 and aUthol•d for issue on and w8r• Signed on Its buhglf by.. 2022 S Shèppard- ru8leo The notes form partof the9e financial st8iements Page11
The Fr•edom Communlty Tvu8t Llmltsd Cash Flow Sttement for the year end•d 31st Mireh 2022 2022 2021 Notes ¢h flows fmm oper•llng a¢tlYlll•• Cash generated from cperation9 66 1031 112,564 Net Gash luséé inyprovided by operating ath"wts'es 66 1031 112.564 Ca•h flow• from InvlIng aetlvltl Purchase ol tangible fixed assets Not cash used in In"n9 actNits Chango In tb •nd ea•h •guSv•l•nts In the Mportlng perlod Cash ind ca•h •qulvilnt •t th• b•glnnlng of tho rnporung p•rfod 180.1031 111,876 611867 399 791 Ca•h and cllsh •qul¥al•nl• it tho Wfl of th• reportlng p•rlod The not85 foTm part of Ihese financial Btatementg Pèg• 12
Th• Fr•odom Communlty Trnjt Llmlted Notes to tho Cash Flow Statemont forthe year ended 31st Mah 2022 RE¢ONCILIATIQN OF NeT EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTMTIES 2022 2021 14•texpendlture lorth• r•porting perlod l•s pgrthe Statement of Financlal A¢tlvltl•¥l Adlugtments lor- DepreciatK)n charge$ LOSB OTh di8PO8al of Ix&J 8858ts Ilncre8sell¢Jeffta8e In detstor8 Ilncrea8elldecreas• in 8torks IDecrease)Ancrè858 in creditors 1470.1031 1461.6611 477,540 480,483 12,937 1981 76 3211 15,076 940 N•t ealh lu•?d InVprovld•d by op8r•llon• ANALYSIS OF CHANGES IN NET FUNDS At 1.4.21 Cash Ilow At 31.3.22 N•t c••h Coih at bank 611,867 100,1031 461.884 Totsl Th• notès fomi part of these finuncial staternents Page 13
Th• Freedom Communlty Trust Llmlted Notu to thg Financial slements for the year ende4131$t March 2022 ACCOUNTING POLICIES 8a•is of Prepang the Ilnanelal gtatements The financial 5tatement8 01 the eh8ritsble company, which is a public neffit entity under FRS 102, have been prepared In accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Staternent of Recommended Practic£ applicable to tharities pparIng their aeeounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 leffecbve 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The flnanrJal statements h8ve been ppared under the historicol cc6t convention. th the exception ol investments which a included at markEt value. Income All incorne is recogniwd In the Statement of Financi41 Activities onrx the charity ha8 entitlernent to the tynd8, it is proboble that the incrKne w511 be refived and the amount can be measured lIAblY. Voluntary income is recogni¥ed once the Charity h85 b••n able lo e8tsbli$h certainly a6 to lh¢ rning and amounl ol the income. Investm¢nt InCLe recelved in respe¢t ol the Igtting of wvmlses is recvgni18d In the Statement ol Financial Acilwbe$ in the ponod to which It relales. Expfrndltur• Re50urce$ expended a induded In the Stslement of Flnancial Activities on an accw81s basiB, indu8i¥e of any value added lax vthic c8nnot be recovered Costs a550uated wth the provision of the prerni8es from the Charity derives It9 inveslment InCe are da$$ified as costs ol raising funds, thilst all remaining cosla, exduding governanrx ¢osts, a treatsd a8 8UPPerting the grnnt maklng activlties and classified as appropriale. Grants in furtherance ol Ihe Charily'i abiethves are recorded on the ba818 of the liability 8ri81rvJ in the p•riod. Tanglble Ilxod ai••t• Fix•d assets are initially recorded ¥1 cost. DeprerAatson 18 provid•d at the follon9 annual r•te8 in order lo wrtts off each a899t over its e81imated u8elul Ille". Freehold building8 Frèehold land L•8sehold building$ Str8ight line over the lerrn olthe least Fix1u$ and filting• straight Ilne over 310 5 years l nd and building1 are da88ified Mixed mo've inv?JtrnenlÈ held for • cornbinatien ol the financial retum they generate and the wntribution Ihe4r u88 by the Subsidiary and other partie8 makej Ic Ihe Invegbng Chanty, own purposes. However the trustee8 coThJider It impractical lo ¥pportion the prcperties behveen tangible fixed a888t5 and inveBtrnent prc*)ertie8 $u¢h Ihai all properties are classed a8 18naible fixed aasels. Fixed 818et inveslment$ are Induded at CQBt le88 any provilicn for permanent dlminLslion in valu•. Straight line over 25 or SO year6 T•x4on The cornp8ny, 09 a registered Charity. ha6 obt8inod exemption from corporali¢n lax. Charit8bk tax exemption¥ e8n therefore be dairned lo the extent that incorne 8ndlor gain are applicablè and applied for chantable purposes only. Value added 18x Is ab$orts¢d part ol the operational c03t5 of the company lo the extent thal Il Is not able to be recovered under the lenns of It8 registration. Fund •c¢ountlng iJnr88tnEted funds can be u8ed ID •ccord8nce wth the th8rit8ble objectives al the discretlon of the tnJBtee8. Oe8ignated lund5 cornpriga unreslricted funds thal have been ¥et aside by the trustees for particular pu0¥e. Re$tncted lund5 Can only be used for partiCar restricted purposes within the objects of the ch3ri1y. Restriction glse when specined by the donor or when funds are ra18ed fur parlicular restricted poSe5. The restrided funds at the balBne• sheet date compri8e of £19,832 in respect ef the Freedom Fresh Food Prcied, funded by the Big Lottery Fund helping provide fre8h food for familie& in neèd. Further funding ha5 been aworded lo allaw tht F$h Food Project to continue for a further Six Fnonths. Flnanciil In•trumen¢ Th? Charity only has fin8nual assets and fin8no&l liabilities of a kind that qualify as basic financial in8trurnènt9. Basic financial inBlrumènts a inttially reccgnised at transaction value and subsequently measured at their ettment value. Page 14 onts'nued..
The PedOM Communlty Tmst Llmlt•d Note• to the Flnanclal 8tatoments- contlnu•d forthe year ended 31st March 2022 ACCOUNTING POLICIES- contlnued Sto¢k$ Sto¢k3 are Stated At the I0r of cost or estimated selling pnca less costs to complet? and 3ell. At each repNting date an assessment is m8de for impaiTrn8nt. Any excess of the cgrying amount cl stock5 over its estimated Selling price les5 ct$ to complete and sell Is recognised a5 an irnpaimienl Ics5 in Ihe Slatement of Finano Actiwbes. Reversals of Imp8imient los$es are 8150 recognts•d in Ihe Stslement ef Finan¢wl Actiwbe8. Pen•lon• The 3ubsidi•ry und•rtaking Pre4lon Road Enlerpri8e8 Ltinited rnakes payment8 10 a rnoney purchase pension 8cheme. conlnbuts.ons ore tharged to the profit and loss aeeount as they bee¢me payable in a¢xordance th the rule3 of the gcheme. Employee bon•ffts The costs ol $hort-term employee benefits 8r8 COgnISed as a Ilabilty and an expense, The cost ol any unuBed holiday entitmInt is recognised in the period in whith the employee'8 strvices are 1ved. Termination benefit8 are recogni5ed immediately aa an expen$e when the company is demonstrably committed to terrninate the employrnenl ol ¥n employee erto provide tenrlnation benefit8. Operatlng léa• Leases which do nol tran81er gub8t8ntially all Ihe Ind reward8 ine4dent#l to owner8hip ar• cla88ified •• operntlng le¥8•J. Incom8 from operating le8seg 1$ recyJgni3ed in th• StBtement ol Financi81 Acl'vitieB on a 8lraighl Ilne baBl$ over the le8s• t•rn. Costs incurr•d In BaminG the lease inmrne are racognised 8$ costs ol raisiNJ lund$. OpBrating lease expenses •r• recognised as an •xpans? over the10489 t•rm on A straight lino bg1YO. INVESTMENT INCOME 2022 2021 Renti and wvSce eharg•¥ receivable 476 883 491821 All ol the Investment incom• frr 2022 und 2021 18 unr•$iricted incorne. ANALYSIS OF GRANT8 AND DONATIONS UnM•trfct•d RMtrlct•d 2022 2021 Biy Lottery. Freedom Frntsh Food Government grant IrQme th•r donations 3,500 3.6110 32,100 21,300 115.989 32,108 137 288 For 2021 £21,300 of the grants recNed are reslrictld in¢Ce, wth the rerngined being unre8trfct•d. RAISING FUN08 Unrnstrlcted Reatricted 2022 2021 Property management co8ts Cost ofgood8 sokl other costs 71,881 71,681 58,379 5,349 102 569 102 689 63,728 All eolts lor2021 are un51Cted cost8. Page 15 continued...
The Freedom Community TN•t Umltèd Notes to the Flnancial Statements- contlnued for tho yoar ended 31st Mah 2022 CHARITABLE AGTIVITIES COSTS Direct charitable activiti88 Grant fund1ng of activie8 Support co$15 (see nole 61 Tolals 2022 Totals 2021 Community #eNces & faelllth.es 379,181 10.000 838,168 1.027,329 1.091,001 Of the cos18 DI charitable actfvi'es £nil12021." £35,537) re r•strK¢ed and balanr£ unrestricted. SUPPORT COSTS 2022 2021 Management Fln8nC8 Information technology Human reaource8 Governane• costs DepredAtlo 33,871 37,881 316 77,881 11.100 39,047 28,Q57 302 73,013 10,800 480 483 638 168 631702 NET INCOMEIIEXPENDITUREI Net in¢omallexpendllur81 i •tated after chargingllcrediongl,. 2Q22 2021 DepreeJotion- owned asMt8 480 483 AUDITORS, REMUNERATION 2022 2021 Feel payable to the ch•rity8 audllorn lor th8 audrt of th• charity's fin•no81 slalernenls TRU8TEES' REh1UNERATION AND BeNEFrrs There were no tru5t•88' remun8r#tion or other benefits for the year end•d 31W M¥rd12022 nor for the y•8r end•d 31st March 2021. Trustee*. exp•n•g During the year expenge8 lotallin9 £30012021.. £3001 %%tre pahl to 1 tru8tse12D21.. 11 for i•lepttone, intamet and other exppnses. STAFF COSTS 2022 2021 Wages and salaries Social security cest$ Pensions 367,378 22.892 372.353 22,768 The were no ernployees whose erndument deffined for taxation purp08e¥ amDunted to over £60.000 in the year. Page 16 continued...
The Freedom Community Tru•t Llmlled Note• to thè Flnanclal Staternents. conllnued for tho y•Jr ended 31st Mllrch 2022 11. NET OUTGOING RESOURCES OF PARENT CHARITY As pemiitted by Seclion 408 of th? Ccmpanies Act 2006, the Statement of Finanu81 Actfftiits'es of the p8rent prity 1$ not presented as part of these financAal statement5. The Pant charity's net outgoing resour8 for the year ended 31 March 2022 totalled a deficit 01 £468,33212021." £521,247). 12. INCOMEIIEXPENDITUREI FROM COMMERCIAL TRADE OPERATIONS 2Q22 2021 Tumowr Cost of $ale8 716.48s 234,446 647,175 227,547 GROSS PROFIT 481,040 419,628 Imini6tra*'ve expen80¥ 438 283 44,777 461,992 142,3641 Other oper•ts"ng incom8 32,101 115,989 opeRATING PROFIT And PROFIT BEFORE TAXATION 73,825 T•x on profit PROFIT FOR THE FINANCIAL YEAR 73,625 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcTIVlEs Unrestrithd fund Regtncted fund Totsl fvndi INCOME ANO eNDOWMENTS FROM Ch4rltabl• Acvle1 Gr8nts InveBlrnent incorne Trading aCtlItlS Olh?r incorne 115,989 491,821 73,658 300 21,3 137,289 481,821 73.658 300 Total 881,708 21,300 703,Cfj8 EXPENOITURE ON Railing fund 63,728 83.728 Ch•rftsblD •¢vIll•l Communlty services & facllltJ88 1,055,465 35.536 1,091,001 To¢•1 1.119.193 35,536 1,1S4,729 NET INCOME1IEXPENDuREl 1437.4251 114.2361 1451,661 I TRANSFER 8eTWEEN FVNDS 2.850 12,8501 NET MOVEMENT IN FUNDS 1434,5751 117,0861 1451,6611 Totsl fund• brought for4nrd 9,306,874 33,418 9,340.092 TOTAL FUNDS CARRIED FORWARD 8 872 099 8.888.431 Page 17 ¢xJntinued...
The FRedom Communlty TN•t Llrnmod Notes to the Flnanclal Statements . contlnued lor the year ended 31st March 2022 14. TANGIBLE FIXED ASSETS GROUP Flxtu and Ilttlng• Freehold prop•rty Lon9 Plant•nd m•chln•ry Total• COST At 1st April 2021 Additsons 12,976,971 3.843,682 71,083 268,069 17,148,791 At 31Jl Mafch 2022 12 976 971 3 841 OB2 17 162796 DEPRECIATION At 1st Apnl 2021 Charg8 lor year 8,129,164 316,191 2,259.505 148,125 44.498 8,686 243,667 6,639 ,677,221 477,640 At 31st M•r¢h 2022 260,296 NET BOOK VALUE Al 3181 M8rth 2022 630.018 1437 662 7 9•8 035 At 31st Kl8rch 2021 6 846 807 1,583 777 471575 CHARITY Fixlur•• and flttings Freehold property Long l?usehold Total• COST At 1 st April 2021 Addition8 12,976.971 3,143,812 71,083 16.890.736 Al 318t Mgrch 2022 12976971 3 143 882 18880736 DEPRECIAfON At 181 Apnl 2021 Charge for yeor 0,119.111 310111 2.259,906 148 125 44,496 8,433.661 470 902 At 315t March 2022 8 446 382 2 406 030 NET 800K VALUE At 31st Marth 2022 6 530 619 1437,662 18,002 7 986 273 At 31st Mareh 2021 6,846 810 15B3 777 26.588 8 457,175 All le8sehold and freehokl 18nd and buikjings ar• o)n84dered to be mixtd motive investments h•ld for combination ol their finan¢i81 return and iontribulion they rnakp lo the objedives cl the Gharily. HOVer, the trustees ¢on$ider It irnpr8ctical to make an apportlgnrnent bet¥%&n funcb'on81 property and inve51menl property such thal all propoTtse$ are ¢la9sed as tangible fixed 8B8ets. INVESThIE14TS In 3ubShliary eompany Atco•t At 11t ADril 20218nd 31 Marth 2022 10 Met book value At 31# March 2021 and 3111 Marth 2022 10 Page 16 continued...
Tho Fro•dom Communlty Tru•t Llmlted Notss to the Flnanclal Statomenl•- ¢ontlnu•d for th• year endeLI 31•t Mareh 2022 15. INVESThIENTS 4ontlnuod D•tai18 of inve3lmEnts arn as follow4.. Narn• ofcomp•ny Preston Road Ente118• Limited Holdlng Onlinary Proportlon of •fv8 hdd N•turn ol bualn•J• 100% Functionlmgeling faolibes The subsidkqry undertaking 15 registered in England End Wale8. In the opinion of the dirtctor6, the value of the company'5 Inv•sbn8nt in ils subsidlary undrtall0 19 not le88 than the Bmount al which it15 Staled in the balance sheel. 1& STOCK8 2022 Gr0P 2022 Charfty 2021 Group 2021 Charfty Finished good8 and good¥ lor resale 2,086 1,990 17. DEBTORS 2022 Group 2022 Charlty 2021 Group 2021 Charfty Trade debtorn Otherdeblorl Amounts du• trom 8ubwdiary undertthing Prepayments and ¥cweJJ Inc?)6 11,118 53,708 17.331 496 $8,191 19,955 292 292 19,368 19.368 85,118 17,623 78,055 39,323 CREDITOR8'. AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 Group 2022 harfty 2021 Qroup 2021 Charfty Trade &dilorn Soclal securfty and other laxe8 Other creditors Aceruali antl deferred income 34,526 12,151 7,078 773 59,186 23,167 83,928 8,573 33,157 3,054 51.858 6,824 8.573 98,53S 14.475 174,856 44,784 19. LEASING AGREEMENTS 2022 Group 2022 Charfty 2021 Group 2021 ChaFIty Minimwn le payments under n0n-wce11ab oparalng &Be6 fall due as folkn.. Wrthin one year B&iwgen and five y•ar8 In MO Ihan five year5 5,655 14,239 215.508 2,083 8,332 215,508 5,325 15,275 217,591 2.350 8,332 217.591 235,402 22S,923 238.191 228,273 PBge 19 onlinued.
The Freedom Community Tt Llmltsd NotsB to tho Flnanclal Statements- eontlnued for the year ended 31st March 2022 LEASING AGREEMENTS Cont. 2022 Qroup 2022 Ch•rlty 2021 Group 2021 harlty inimum lease paYTr due to the thadtable rnpanY End th• 9rcP undern0nnl1akn1e operthng le&8e$ fal due a5 folloth8'. Within one year eetween one and five y•ars In rnare than five years 290,999 266,815 99,150 267.447 510.804 195.806 285,581 659,156 312,805 469.113 146,249 662,964 974,057 983,8 1,257.S42 20. ANALYSIS OF NET A88ETS BETWEEN FUND8 2022 Totsl fund• 2021 Tot81 fund8 ROUP LlnreBlricled fund Re$tdcled lund Fix8d aBMt¥ Current ¥3sets Current Iiabilitses 7,998,036 498,936 98 6381 7,998,035 618,7e6 8.471,575 591.712 19,832 8 398 436 8 418 288 8 888 431 2022 Tot¥1 lund• 2021 Total funds CHARITY Unrestncted fvnd Restricted fund Flxed Al1# InveBtment8 Current as8•19 Current Ilabilrtie8 7,98$,273 7,986,273 ,457,175 10 381,743 334,172 14 4751 19,832 364,004 8 305 980 326 812 794 144 21. MOVEMENT IN FUNDS GROUP Net movemant in fun41 At 1.4.21 31.3.22 Unre•trfet•d fund* General fvnd 8,672,099 1473,8831 6.398,436 Re•trlct8d fund• RestTlCted fund 16,332 2.600 11.832 TOTAL FUNDS 888 431 470 1631 41B 268 Page 20 conts"nued...
The Fr•edom Communlty Tru•t Llmlted Note• to the Flnan¢l•l Stalements. contlnued forthé y•ar •nded 31st March 2022 21. MOVEMENTIN FUNDS-<ontlnu•d Net movement in funds. induded in the abo #re as fOlkn.. Trgn8fer beknen lund$ Inming resources R850urces 8xp8nded Movement in fund8 Unre•trfcted fvnd• Geneial fund 656.235 11.129,8981 1473.6631 R••trl¢t•d fund¥ Re&lnded lund 3,500 3,500 TQTAL FUNDS 659 735 1129 898 470 1631 CompawJtlvM lorrnov•m•nt In lund• Nel movement In fund8 At 31.3.21 At 1.4.20 Uhmtrlcted fund* General fund 9,3C6,674 1434,5751 8,872,099 R•¥trt¢t•d fund• R•$tricled fund 33,418 117,0881 16,332 TOTAL FUNDS 9 340 092 4516611 8 888 431 Cornparats've Mt movwnent in fund•, included in the above ore A8 followi.. Trnn81er Inccming re8ource6 Re8ourt•¥ expended Movement in fundi funds Unv•8trlct•d fund• Genernl fund 681,788 If,119,1931 2.850 1434.5751 Re•trlct•d fund• Reslricled fund TOTAL FUNDS 1 154729 4518611 CHARITY Net mcvement in fund At 31.3,22 At 1.4.21 Unve•trl¢ted lund• Gener•1 lund 8.777012 1471.8321 8,305,080 Re•tricted fund• Restricled fund 10.332 19.832 TOTAL FUNDS 8 794 144 468 3321 8326812 Page 21 onts'nued...
The Freedom Communlty TN8t Urnlted Notes to th• FIMnGlal 8tatem•nts. contlnued forthe year ended 318t March 2022 MOVEMeNT IN FUNDS- ¢ontinu•d 21. Net movement in fund5, induded in the ¥bo¥e a as follo.. Transfer betwaen Inc10 resource$ Re¥ouw8 expended Movemenl In funds Unrestrlcted funds Gener81 fund 483,374 1935,2CfjI 1471,8321 Re$trl¢t•d fund• Restricted fund TOTAL FUNDS 93S,21%1 468 3321 coMr•I1¥• for rnov•ment In fund• Net rnovement in ftJndB At 1.4.20 31.3.21 Unr•8trl¢ted fund• Genefal fvnd 9,281.973 1504.1811 8,777,812 RMtrl¢t•d fund• Raitrkled fvnd 33,418 117,0861 18.332 TOTAL FUNDS 8 794.144 Comp8rativo net movement in lundi, Inded In the abwe are as followi., Inceming Re80urc8 resources expended Transfer befften funds Mcvemant in fund Unre•trfctsd fund• General fund 3g8,733 1905,7441 2,850 1504, 1611 R••trlct•d fund• Rèstricted lund TOTAL FUNDS 420 033 9412801 521 2471 22. EMPLOYEE 8ENÉFIT OBLIGATIONS Frorn 3151 March 2010. all gtaff 8r• employtd by the sub•Ldiary undertaking. Preston Road Enterprise8 mIted, whith 18 responsible for all Ilaff pensKJn CcThtribul 23. CONTINGENT LIABIUTIES The tenns ol the Crp8Ny,s Drigin* lunding agreement wth Govemmenl oifite provide th8t if fixed assets are 1 01 Iheir 0erShip Iran¥ferred while Ihey have any ecenomic value, Govemrnent Offlce must b8 notified a$ 500n as p1? and Ihey may requsre the proceeds or an apyopnale propDrtion thereof to be repald. The Vllage ChildrAre Centre was in part fvnd8d by the Nats"onal Lottery. In the eyent thatthe building Is kd 6.6¥0 oflhe market value Ibeing the propO"0n of the ong1nal con¥truction costs fvrKled by t donorl wll be repayable to the donor under Ihe tem)s of the grant. Page 22 continued...
The Frtedom Communlty Twst Llmltsd NotOS to thg Flnanclal 5tatements- contlnued for the year ended 31gt March 2022 DIRECTORS. INTERESTS AND RELATED PARTY DISCLOSURES al Th8 board members n?med in the directors, port as Resident or Independent Trusteès live in the Pte5ton Road ehbOurhoOd A$ such thay are likely to have derived #ome benefit frorn Ihe projects and iThliati¥es undertaken by the company. However apart Irom the matler noted below the Board is of the opinion that Such benefits are Unlike lo influence the said mernbers in pursuing the aeparate Interests of the Charity. Accordingly in accordance wth paragraph 9.18 SORP 2015 no disclosure Is con51dered necEssary. bl In the course of lh• year the Chadty charged rent, seiCe charye8 and insurance totallin9 £4e,696 12021". £45,966) to Child Dyn8mix Ltd, of whith the TnJslee J Boyd 15 a d1Clor. Al the balance 8he¢t date £8,85612021.' £13.0191 w8s owerl to the Charity by Child Dynamix Ltd. In th? ¢ourge vf ytt8r the chatY paid Environmental and hlanagtrnent Solutions Ltd £5,72512021. £32,634). In the course of the year the Chanly eharyed rent, sewica charge8. InsurAnce & ulilib'es tolalling £14.900 12021.. £12.9711. At the balance sheet dale £2,397 12021.. £3881 was owed to the Charity by Environrnenl818nd Managemgnl Solutions. The Iru8te• JBnet 8oyd is Bn offir of thva company. 26. ULTIMATE CONTROLLING PARTY Thè cornpany 18 contro4ed by the dlr•etors ar• a150 the Charlty'l trust888 for Charfty law purpose8. MEMBER'8 LIABILITY 26. The cornpany w¥5 incorporated 8# ¥ Company limited by gu&rant•e and thereloro ha8 no 8h8re tspilal and li alw regi$iered a8 a Ch8rity. Tho liability ol tho memb?rB 18 limrted on the wndlng up of the company. Each mernber 18 only liable %thilst being a member. Al the tsalan 8h•el date thern re 9 member•. 27. CONTINGENT ASSET Durlng 2005 th• Company 8ueuB8fv1ty defendod •n employment Iribunal ca8e brought by a fonrer employe?. The company w83 awarded coit8 of £10.197 which the claimsnl was not IedIatelY Jble lo pay. The ¥rnounl of costs plu• accrued inlere8t Bl 8% per annum Ss now 8eoJred again•t Ihe daimanl'i private sidenC8 and will b ttled the propety i• sdd. Page 23