REGISTERED CHARI NUMBER: 1106B74 R• ort of Ihe Trust•8s and Unaudltod Financlal Statem nts de ber2 McDade Roberts Accountants Limiled Chartered Accountsnls 316 Blackpool Roa(J FU0d Preston Lancashire PR2 JAt
Th•F C•n Conténts f the Flnanel I atem Year En D•e•mbor 2 Page R•port of the Trust•g8 1 10 3 Indepondonl Examlnor's Report Stat•m•ftt of Flnanclal Activltlos stst•mgnt of Flnancial Position Notés to the Flnan¢lal Statem•nts 7 to 12
The Frèedom C• Re of th• TrLtsts•s Y•ar En¢led 10 Dgc•mb8r 2023 fort We are onee again indebted to Lydia House Trust for the use of the bullding on a Sunday for our services on a no charge basis. Our weekly offerings have been offled due to people not carry¢'ng cash although we havè tried lo mitigate this by having a card machine available for people to use after the servicè. Our service numbe have continued lo grow with new families joining our Sunday worship seNices. Leadership and Staff The trustees Corporately hold re$ponsibilrty for the financial health of the church bul the day to day responsibility is held by the senior pastors and assistant pastors. Their role is one of spiritual leadership, dirertion and the logistical anil administrative responsibilities are held by the vision team. Trustee meetings are attended by the trijstees afid the senw pastors. Due lo the high usage and eventual breakdown of the senior p8Stors car during the year we were also able lo gift £10.000 towards getting Ihem a more reliable car. The tfustses are conllnulng to look lo be able to transition the senior pastors to 8 more wid8r role and during 2024 wll be advertising for a lead pastor to support the staff and leadership as the church moves forward. Foreign Mlssions The senior pastors did nol travel during the year to the Far East on behalf of the fr88domcentre but travelled lo the United States for a GonfeieiiG¢. 011¥ uyoiii we enstjyed the mlnlsiry ol varlous leaders from Inoia dunng Ihe year. Freedom Tots. Kids arKI Youth This ministry has exploded in numbers and we a Indebted to the leaders of thes8 groups for the work they do with the young people on a weekly basis. In closing The Irustees wuld like lo say o huge thanks for the support of am the partners to the charity give their lime and their reSoUeS in such a wonderful way. We would also like lo place on record our deepest thanks lo the Senior PaslorslFoundèrs. The Vision Tearn and the Assistant Pastors for their generous $8rwce and support. The charity is blessed lo have such a wonderful group of volunteers lo support all that the charity is endeavouring to achleve. Signed by Mrs. Susan Mcvicar Chair of TriJ8t6J* OBJECTIVES AND ACTIVITIES Objectives and aims The freedom Cent aims to promote the advancement of the Christian religion in Great Britain and throughout the world. P01
Th• Fr8•dom Centre Rè rt of the Trust•O$ for tho Year Endèd 10 Decefflber 2023 FINANCIAL REVIETII Flnancial posltlon Income for the year was £91,6 which w8s a 12% decrease on the prior y8ar. The ¢harity rem81ns reliant on generous contributlOn5 8nd regular giving from individu81s bul the move towards a cashless society does impact on coNeclitins received. Expenditu for the year increased to £115.019 which was an increa8A nf 10.6Yo on th8 wor year gnd togethor with the decrease in income resulted in a defi¢il for the year of £23.329. The trustees contlnue to review costs carefully wlthout Cutting unduly Closing funds were £30.444. Thege are unrestricted and maintsined in order to fund working capital needs, to fund unexpected expenditure, for example en projects overrun or unplanned eveftt5 occur and to fund shortf8lls in income. vthen Sncome does not reach expected levels. This was the case thi$ year. This approach is based on an understsnding of the income streams and their risk profile. the degree of commitment lo expenditure and the overall risk environment in which the charity operates. Reserves policy The charity holds unrestrfcted funds al the year end. These are maintsined In order lo fund working capital n¢¢ds. tr) fvnd unexpeGted exp¢r)diluie, fvr exatnple vthen prolecis overrun or unplanned events occur and to fund shortfalls in income, when income does not reach expected levels.we are pleased lo say income was up in this past year and we have eamiarked the increase in unrestricted funds to update equipment and giving lo other charities who have 8imi18r aims lo ourselves. This approach is based on an understanding of the income $treams 8nd thetr risk profile. degree of commitment to expenditure and the overall risk 8nvironment in which the charity operates. Reslricled funds:_ All restricted funds were spent during the course of the year under review. no balance remained al the year end. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The tharily is ntrOlled by ils govemin9 document. a deed of trust and constslules an unincorporated charlty. Recrultment and appointment of new trust••s Trustees are voluntary posilioris. New ttustees are appointed by existing trustees through an open recruitsmenl process. REFERENCE AND ADMINISTRATIVE DETAILS Règlst•r•d Charity nUrnr 1106874 Princlpal addrè83 Suite 212, City House 131 Friargale Preston Lancashi PRI 2EF Page 2
The Freedom C•ntre f the Tru Tru8t•o5 Mrs L Phillips Mrs C Woods Mrs S A McVIc8r Dr E Adegoke lappointed 161212024) Ind•pendènt Examlner McDade Roberts Accountsnts Limited Chartered Accountants 316 Blackpool Road Fulwood Preston Lancashi PR2 3AE EVENTS SINCE THE END OF THE YEAR The charity reiVed 8 significant one off donation of £23,C¥)O post year end. This genercmjs don8tion has helped lo replenish reserves after the deficit of the year. Approved by order ol the b08rd of trustees C ......................,,..................... and slgnèd on ils behalf by.. Mrs S A Mcwicar - Truste8 Page 3
Inde endent Examingf¥ Re rt to th• Trustses of The Fr••dom Centre Indopondent examlngr's report to the trustees of Tho Frgodom Centre I report to the charity Irusle8s on my examination of the accounls of The Freedom Centre {Ihe Trust) for thé year ended 10 Decembér 2023. R•sponslbilltles and basis of rèport As the charity Iruslees of the Trust you are responsible for the prep8ralion of the accounts in accordance wlh thè requirements of the Charities Act 2011 Ilhe Act'l. I report in reopAC.t nf my examination of the Trust's accounts carried out under Section 145 of the Act and in carying out my examination I have followed all applicable Dlreclions given by the Charity Commission under Secllon 145151{bl of the Act. Independont oxamin•r's $tatomont I have Completed my examination. I confimi th81 no material matter5 have come to my attention in connection wth the examination giving me cause lo believe that in any material respect-. accounting records were not kept in respect of the Trust as re(wired by Section 130 of the Act" or the accounts do not accord with those records- or the aOnts do not comply wlh th8 applicable requirements conceming the forni ond content of accounts s8t out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a trLI8 and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no other malters in connection wth the examination to which allention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. Martlli Garry Efi { ¢1, FCPJ McDade Roberts Accounlanls Limited Chart8red Accounlanls 316 Blackpool Road Fulwood Preston Lancashire PR2 3AE Page 4
dom C•ntr• I l Activi 10.12.23 Total funds 10.12.22 Totsi funds Resirlcied fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 91,493 91.493 104.131 Investment Income 197 197 16 Total 104 147 EXPENDITURE ON Raising funds 1.911 Charltabl• activilios Dona110115 made Overseas training and conferences 10.318 9.163 10,318 9.183 2.594 8.581 Other 92,678 Total 115.019 11S019 104010 NET INCOMEI{EXPENDITUREI 123,329} 123.329} 137 RECONCILIATION OF FUNDS Totsl fLsnds brought forward 53,773 53,713 53.636 TOTAL FUNDS CARRIED FORWARD The notss form part of thesefin8ncial slalements Page 5
Tho Froodom Financlal Poslt 10.12.23 10.12.22 Toial funds unwlriueo fund Resthcte(J fund Tgial funds Notes FIXED ASSETS Tangible assets 2.155 2,155 2.973 CURRENT ASSETS Debtors Cash at bank 3.554 25,734 J.554 25.734 5.3J15 46.463 29.288 29.288 51.799 CREDITORS Amounts falling due wllhln one year {9991 1999} {999) NET CURRENT ASSETS 28,289 28,289 50,800 TOTAL ASSETS LESS CURRENT LIABILITIES 30,444 30,444 63,773 NET ASSETS 30.444 53.773 FUNDS Unrestricted funds 30,444 53.773 TOTAL FUNDS 53.773 The financial statements were approved by the Board of Trustees and authorised for issue on - and were signed on ils behalf by. S A MGVicar- Trustee The notes fomi part ofthese financial statements Page 6
Th• Freedom Ctr• Notès to the Flnan¢ial Statomant for the Y4ar Ended 10 D•e•mber 2023 ACCOUNTING POLICIES Ba¥ls of preparlng th8 Ilnancial statom•nts The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'Ac¢ounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting S18ndard applicable in th8 LIK And Republic of Ireland {FRS 10211gffe¢tivc 1 January 2019}'. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entillemenl to the funds. il 1$ probable that the income will be CeIVed and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure 8s soon as there is a legal or constructive obligation committing the charty to that expenditure, il is probable that a transfer ot OnOMiC benefits %*ill be qUired in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that 8ggreg810 all cost related to the category. Where GQ5t5 cannot b¥ TJiiEU(ly atttibute¢J to parucular n8attings ihey nave be8n allocated to activities on a basi$ Consistent with the use of resources. Tanglble fixed ass•ts Depreciation is provided at the followlng annual rates in order to wrlle off each 85sel ov8r its 8stimal8d usefvl lifo. pkni and machinery Computer equipment 20% on cost 20Q/o on cost Taxatlon The charrty is exempl from tsx on its ch8rilable activities. Fund accountlng Unrestricted funds can be used in accordanc8 With the charilat4e objectives at the discretion of the trustees. Reslrioled funds can only be used for particular restricted purposes wtthin the objects of the charity. Restrictions arise when sp8cified by the donor or Nthen funds are raised for particular restricted pijrposes. Furthtr explanation of the nAtur• snd purpose of each fund ig included in the notes to the financial ststements. Page 7
The Freedom Cèntro lal Stst•m•n ntlnu INVESTMENT INCOME 10.12.23 10.12.22 Deposit account interest 197 16 TRUSTEES. REMUNERATION AND BENEFITS Mrs S.A. Mcvicar, a trustee of the charity, was paid £25.000 during the year in the form of remuneration. Trust•e*' •xpgn88S There were no trustees, expenses paid for the year ended 10 D8cember 2023 nor for the year ended 10 December 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted R8Strfcte(I fund Totsl fund$ INCOME AND ENDOWMENTS FROM Donetions at>d 1¢9(IGl¥b 101,131 2,400 104,131 Investment income 16 16 Total 101 747 104 147 EXPENDITURE ON Raising fiJnds 1,911 1.911 Charltabl• activities Donations made Overseas training and conferences 194 8,581 2.400 2.594 8.581 Other Total 101610 104010 NET INCOME 137 137 REGONCILIATION OF FUNDS Total funds brought fonvard 53.636 53,636 TOTAL FUNDS CARRIED FORWARD Page 8
Thè Freedom C•ntr• tho Flnanclal or TANGIBLE FIXED ASSETS Plant 8nd machinèry Computer equSprnent TotsL COST At 11 Oecember 2022 Additions 7,300 329 7.800 329 At 10 December2023 7.629 8.129 DEPRECIATION At 11 December 2022 Charge for year 4.327 1.147 4.827 1,147 At 10 December 2023 5.474 NET BOOK VALUE AI 10 December 2023 2,155 2,155 AI 10 December 2022 2.973 DEBTORS: AMOUNTS FALLING DUE Y¢lTHIN ONE YEAR 10.12.23 10.12.22 Grfl Aid Prepaymonts 2,700 854 3.554 5.336 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 10.12.23 10.12.22 Trade creditors 999 MOVEMENT IN FUNDS Net movement in funds At 10.1223 11.12.22 Unrostrldgd funds Gener81 fund 53.773 {23.3291 30.444 TOTAL FUNDS 23 3291 Page g
ThgFr edom Cen temén ntlnu• IOVEMENT IN FUNDS- Contlnued Net movement in funds, inclLKled in the above are as folows: Incr)mry rosourc8s R850ur( expended 0rnt In funds Unrestrlcted fund$ General fund 91.6SYI 1115.019) 123.329) TOTAL FUNDS 115019) 23 3291 Compar*ives for m0ment In funds Nel movement in funds At 11.12.21 At 10.12.22 Unigstrld•d fund8 General fund 53.636 137 53.773 TOTAL FUNDS 53,636 137 53.773 Comparative nel movement in funds. included in the above a as follows: Incoming R8sourees expended Movèmènt In funds Unrostrictèd funds General fund 101.747 1101.6101 137 Re5trlcted funds Restriced Funds 2,400 {2,400) TOTAL FUNDS 104 147 1040101 137 Page 10
Th Fre•dom Contr• Fin nc nts-con MOVEMENT IN FUNOS - contfnugd A current year 12 months and prior year 12 months combined position is as follows= Net rrK)vement In funds 11.1221 10.12.23 Unrestrlcted funds General fund 53,636 123.192) 30,444 TOTAL FUNDS 53.636 23.192} 30,444 A current year 12 months and prior year 12 months comned nel movement in fund5, included in the above a a$ follows: InrnI sour% R8sgur£*s 6xpend&J )vernent in funds Unrestrlct•d funds General fund 193,437 1216.6291 (23.192} Restricted funds Reslriced Funds 2,400 {2.4) TOTAL FUNDS 195,837 219.029) 23.1921 RELATED PARTY DISCLOSURES During the year the charity has been granted rent free use of a propety owned by Lydia House Trust, a charity that S.A. Mcvicar is also 8 trustee of. Also, a donation of £10.000 was m8de to Jack Mcvicar (the husband of one of the trustees) for the purpose of purchasing a car. Further detsils are proMded in the Report of the Trustees. Pago11
The Fr••dom Contr• test anclal S ts- contln 10. POST BALANCE SHEET EVENTS The charity r8C8ived a Significant one off donation of £23.000 post year end. This generous donation has helped to replenish reseNes after the deficit of the year. Page 12