FREEDOM NETWORK INTERNATIONAL FINANCIAL STATEMENTS FOR 31 DECEMBER 2023 Company Number 62S6996 Charlty Number 1122937 FINANSURE LTD 2 Sheppard Street. Biymbo, Wrexham, LL115FF FREEDOM NETWORK INTERNATIONAL FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 CONTENTS PAGES Charity information Dlreclors. report 2to4 Independent examinels report Statement of ft'nanctal activities Balance sheet Notes to the financial slatements to13 Page 1 FREEDOM NETWORK INTERNATIONAL CHARITY INFORMATION Company number Charlty numbgr 6258998 1122937 Reglstered wothing namos DFN UK Fr@8dom Nthork South Asia Frèèdom Network UK Dignity Freedom Network Dlr8Ctors Mr Gary Sloan (Chairman) Dr Jos$ph D'souza (Resigned 16th Augu$l 2024 Rev Paul Sands Mr Martin Young Mr Kumar Swamy Mrs Sanlosh Rai Mr Josh D'souza Mr$ Rebgcca Harcourt (Appointed 7th March 2￿24) Reglstgrèd offlca 8 Hearn Court Slafford Slaffoidshlfe ST17 9QN Indopendent Examiner Mr L How50n MAAT A¢¢ountants Finansure Limited 2 Sheppard Slreet Brymbo frexham LL115FF BankorJ Nat West Bank Shrewsbury Corporate Office Suit8 5, Prospect House Bellè Vue Road Shrewsbury SY3 7NR Solicitors W¥iglpy8 19 Cookridge Str68t Leeds LS2 3AG Page 2 FREEDOM NETWORK INTERNATIONAL DIRECTORS, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Dlrectors The following were members of the Board of Directors during the whole of the period unbess stated otherwise.. Mr Gary Sloan Ichaimianl Mr Joseph D'souza Mr Paul Sands Mr Kumar Swamy Mr Martin Young Mrs Santosh Rai Mr Josh D'souza The Directors. who are also Trustees for the purposes of Charity Law, present their report and the financial statements for the year ended 3151 December 2023, These financial statements comply with 8latulory requirements. the Memorandum and Articles of Association and the Slalement of Recommended Practice Accounting and Reporting by Charities SORP IFRS 102} effective January 2019. Currently we have seven exterienced and commilled Directors, and we are actively seeking to recruit new ones to ensu￿ that we have the right balance of skills. Only the Members have power to appoint new Directors. Constitutlon Freedom Network International is a company limited by guarantee and a registered charity. OBJECTIVES AND ACTIVITIES The charitable objects of the company are.. lo promote for the public benefit the enforcement of human rights and the sound adminislralion of human rights law and practice throughout the world in ac¢ordance with the relevant legal jurisdictionlsl., to advance education about human rights and to cullivale a public sentimenl in favour of human rights. to promote racial and religious harmony, equality and diversity by provtding educational resources and information to promote better awareness of the causes and consequences of a world where racial and religious harmony, equality and diversity do not exist., to advance education throughout the world.. to relieve poverty and sickness. particularly amongst victims of natural or other kinds of disaster, particularly by the provision of funds or equipment to individuals or organisations who are themselves or work with those in need. Pagg 3 FREEDOM NETWORK INTERNATIONAL DIRECTORS, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 Prlncipal Activltles Undertaken Our aim is lo see the poor, marginalised and oulcasles of society transition to living in Dignity and Freedom. Our programmes are designed, led and staffed by nationals, with a holistic approach focusing on four key areas.. Education.. Quality, English-medium, values-based education primarily focusing on children from poor and marginalised communities, including those sometimes known as Dalits ar)d Adivasis. Healthcare.. Community health workers, primary clinics and HIVIAIDS ￿nIreS lo help prevent sickness and disease- a cause and ¢onsequence of poverty and inequality. Economic Empowerment.. Business start-up grants, self-help groups and vocatlonal training to enable the poor to earn a livelihood, become self-suffic¢ent and hold their heads up high. Community Development., Empowemient and development programmo$ helping prevent the exploitation of women and gids. Publlc benefit The Directors confirm that they have complied with the duty in the Charities Act 2011 to have dL¢e regard to th8 Charity Commission's general guidance on publi¢ beneffit when r8viewing the charitable objectives and aims of Freedom Network International, as well as in planning future a¢livities. ACHIEVEMENTS, PERFORMANCE AND FUTURE PLANS Refer lo the separato dire¢t¢)rg' report which was submitted to Charity Commission along wlh these financial stalemenls. FINANCIAL REVIEVI The financial results are shown in the SOFA on page 6. Total income for the year was £1,355,774 12022 - £760,401) which came entirely from donations and grants including Gift Aid lax reclaimed. Total expenditure was £1,344,59812022- £747.4941. The main area of expendllure was grants to a partneTing charity in India tolalling £1.157,918 (2022 £563,890). This left a surplus of £11,176 for the year {2022 - £12,907). At the year-end the charity held reserves of £103,928 which were all unreslricled. Pag94 FREEDOM NETWORK INTERNATIONAL DIRECTORS, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 Reserves 11 is the policy of the Board to build up ￿Se￿eS which are sufficient lo enable smooth running of the day-lo-day activities of the charity, whi¢h is approximately £60,000. At the year-end the unreslricled reseNes were £103,928. The Iruslee8 Iwho are also the directors of the company for the purposes of company lawl are responsible for the preparation of the accounts. This report has been prepared in accordance wSth the small companles. regime under the Companies Act 2006, This report was approved by the Board on . behalf by É seiYeixoeiL ZQ'L and is signed on its Gary Sloan Chairman & Director Pago S FREEDOM NETWORK INTERNATIONAL INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS I report on Ihe accounts ot the charity for the year ended 31 December 2023, which are set out on pages 6 to 12. Respectlve responsbbililies of directors and examiner The charity's directors are responsible for the preparation of the accournls. The charity was granted a dispensation by the Charity Commission dated 20, March 2024, allowin9 for an independent examination to lake place instead of an audit (Regulation 311fj1. 11 is my responsibility lo.. examine the accounts under section 145 of the Charities Act., to follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llbl of the Charities Act., and to stale whether particular matters have come lo my allenlion. Ba818 ol Indopondont examine￿$ report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charily and a comparison of the accounts presented with those recor(Is. It also includes consideration of any untjsual items or disclosures in the accounts, and seeking explanations from you as directors concerning any such mallers. Th8 procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as lo whether the accounts pre5ont a 'lrue and fair VI￿ and th8 report is limited to those matters set out in Ihe statement below, Indgpendent oxamlner's statement In connection with my examination, no matter has come lo my allention.. which gives me reasonable cause to believe that in any material respect the requirements.. lo keep accounting records in accordance with section 386 ofthe Companies Act 2006.. and to prepare a¢¢ount8 which accoTd with the accounting records and comply with the accounting requirements of section 396 of the Companies A¢t 2006 and with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not been met., or 2. to which, in my opinion, attenlton should be drawn in order to enable a proper understanding of the accounts to be reached. Dated.. L M Howson MAAT Finansure Limited, 2 Sheppard Street, Brymbo, Wrexham, LL115FF Pagè 6 FREEDOM NETWORK INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING THE INCOPAE AND EXPENDITURE ACCOUNTI YEAR ENDED 31 DECENIBER 2023 unreslric18d Reslricled Fund$ Funds Totals 2023 Tot81s 2022 INCOMING RESOURCES Donations & giants 91,168 1,264,606 1,355,774 760,384 Incoming ￿sOUrCeS from charitable activilies.. Lileralure and other sales 17 TOTAL INCOMING RESOURCES 91,168 1,264,608 1,355.774 760.401 RESOURCES EXPENDED Expenditure on chant8blè 8ctivibes.- Advancement of human righ18 Of￿¢8[10n 186,680 1.157.918 1.344,598 747,494 TOTAL RESOURCES EXPENDED 186,680 1.157,918 1,344,598 747,494 NET INCOMEIIEXPENDITUREI FOR THEYEAR 195,512} 10S,688 11.176 12.9C$7 Transfers btheen furwjs 106,689 (106,689} N•l m0Ven￿nt in funds 11,177 11,176 12,9)7 Balartts brou￿¢ fonNard 92.751 92,752 79,845 Balance8 carried lorwa¥d 103.928 103,928 92,752 The st8témenl of financial activities include$ all gains and108sès recognised in the yoar. All Income and expendblyre derive8 from continulng a¢tivi150$. The note$ on pages 8 to 12 tom) part of these fflnanclal statgments. Pagg 7 FREEDOM NEfwoRK INTERNATIONAL BALANCE SHEET 31 DECEMBER 2023 Nots 2023 2022 FIXED ASSETS Tangible 8$sets CURRENT ASSErs Debtors Cash al bank and in hand 13.928 182,289 14,097 189,912 Total CurrenlAssets 196,217 204.009 LIABILITIES Creditors falling due wilhin one year 10 {92.2901 {111,2581 Net CU￿tA$Sets 103.927 92,751 NetAssets 103,928 92.752 FUNDS Unrestricted funds Rèstricted funds 11 103,928 92,751 Totsl Funds 103,928 92,752 For the year ended 31 Decembèr 2023, the company was entitled lo èxemption from the provisions ofthe CompaAie$ Art 2006 Ilh8Actl relating to the audlt of tha accounts for Iheyeai by virtua of section 477, and no memberormernbers have requested an audit pursuant to sedion 476 ofth8 Act. The directors acknowledge Ih8ir responsiblllty for.. comptyingwith the requirÈm8Trts of theActw&h tespect lo ac¢ounts"w reeords and the pr8paYation ofaccounts, an preparing accounts whtch giv& a true and fair view of the 81818 of affa415 Of charity as ot the end of th8 financial year and of ils n81 Incoming or outgoing r6$¢yJr￿$ for th8 financL41 year In accordance with Ihe requirernants of tha Ael iel?ting lo financial statement$. so far ippycatile to th8 charlty. These financial $￿teMents have been prepared in a¢¢ordance with th8 special plowisions fow Companles 8ubiect to the smal ¢ompanl8s' reglrnB, and wlth th• FknancJ81 Reporting Stsndard IFRSI 102. Thes& financial stalgments wer8 approved by the difector$ on their behalf by.. Gary Sloan Chaimian & Director The notès on pag&$ 8 to 12 fomi part of th•so financlal statements. Pago 8 FREEDOM NETWORK INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES The accounts have been prepared under the historic cosl convention, and in accordance with the Statement of Recornmended Practl¢e- Accounting and Reporting by Charili&s ISORPI, FRS 102 effective January 2019, applicable ac¢ounlit)g standards and th& Companies Act 2006. The Pa￿'CUlar accounliny policies adopled by the Direclors are described below.. la) Fund accounting Unrnstricled funds are available for u¥0 al tho di$cr¢lion of the Dirtr¢tors in furtherance of the ggnèral objéctiV8s of the charily. Dèslgnated funds are unrestricled funds that the Directors have Sel aside for 8pecific purposes. Reslricted fvnd5 are subject lo reslriclions on Ihoir use, gilh¢r imposgd by Ihtr donor or In¢luded in Ihe terms of an appeal. Ib} In¢omlng resources Grants and donations Teceived are accounted for when th8 Charity is èntitled to it and as Soon as it is prudent and practicable lo do so, generally the earlief of the dale of notili¢aUon or receipt. Grant$ th81 arè specified for use in a later accounting period are defewred lo that period. Icl R•$ources expended This includes ¢0g1y of ¢h8rilable aclivitlè8, fiJndraisin9 and govefnanc& trxwnditure. Fundraisffng costs are costs incurred in motivalirtg individu81$ and other Nganisations lo donate to Ihg work of the charity. DlreGt chorilablg exp¢nditurn includes all expenditure directly related lo the objects of the charily. Govornance comprises expeNlilure incurred in the managernent of the charity's assets. organisallonal admlnislrallon and compliance with constitutional and statulory requirements. Idl Flx•d Assèts and D•pr8clatlon Tangible fixed assels with a cost over £300 are Slated al cost less depreciation. Depreciation is provided in order to wrile-down the cost of tangible fixed assets over their estimated US￿￿1 IivÈ8, Llsing the follDwing rates: Computer equipment 33% reducing bal4nr Page 9 FREEDOM NETWORK INTERNATIONAL NOTES TO THE FINANCIAL STATEIWENTS YEAR ENDED 31 DECEMBER 2023 UNRESTRICTED AND RESTRICTED INCOME AND EXPENDITURE Unreslricted funds relate Ic* tho general actiwtles of the charity. Reslrfcled funds ral8t8 lo the activities ol Dignity Freedom NetWOTk UK (DFN U￿. DONATIONS AND GRANTS 2023 2022 u￿r￿trICted Giantg UK work- general donath)ns Gift Aid lax recoverablg 3,000 83,090 5,078 8,000 74,074 4,106 Tolal ￿reSI1#￿ed 91.168 86,180 Restrlcted Oonalions.. - Appeal funds DFM Australia Iloy India) - Community Development - E¢onomic Empowormenl Education General Ilndia) Hgallhcare Slum project$ Gift Aid lax recoverable 119,824 680,676 21,3S9 23S 273.101 52,843 10,140 494,450 10.OOD 50,95S 14,000 40.876 97,631 31,000 40,780 Total restricted 1.264,606 674,2Q4 Tolal donation8 and ￿anIS 1,356.774 76C).384 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES 2023 2022 Unréstrlcted Employment cosl81see note 6) Management cosls Marketing & ¢ommunication$ Travel & accommodation Administration cost$ Governance costs Independent examinerfs fee 75,961 $4,805 9,186 12,060 18,732 15.036 900 66,930 71.470 8.590 7,095 11,373 17,421 725 Total unre$lrÈcted 186.680 183,804 Page 10 FREEDOM NETWORK INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES {contlnuedl Restricted Grants paidlexpended Isee note 51 1,157,918 563,890 Total charitable athrtios oxpenditure 1,344598 747,494 ANALYSIS OF RESTRICTED GRANTS PAIDEXPENDEO 2023 2022 Appeal fund5 Ilndial Communily Development Ilndial DFN Australia Ilndia) Economic empDwerfflenl Ilndia} Education costs Ilndial General Ilndial Healthcare Ilndial Slum proje¢l8 Ilndi81 102,401 18,991 680,676 188 245,212 46.818 9,360 752 443,083 8,500 43,677 11.900 84,100 26,350 1,157,918 563.890 EmPLOyME￿r COSTS 2023 2022 Salaries and wages Employerfs pension contrtbulion8 Employer's NIC conlrlbulion 76,362 599 66.472 384 74 Total 7S,961 66.930 No employee received Temune¥alion in ex¢e$$ of £60,000 du*ing Ihtr year. The average number of employee5 during the year was six (2022- 81x1. The average number of full-tima équival&nt 6mploy&es was Ihree12022- Ihreel. Pag& 11 FREEDOM NETWORK INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DEC￿ABER 2023 TRANSACTIONS WITH DIRECTORS AND RELATED PARTIES No direclor$ rèceived remuneration durlng the year or were r¢imbursed for 6xpenses incurred. The directors made lolal aggfegatè donations of £660 to the charity during the year {2022- £3601. The ¢harily works closely with a partner charity ift Ind￿ which has three dir¢clors in common - Dr Joseph D'souza, Mr Kumar Swamy and Mr Josh D'souu. Grants were madg lo this charity during Ihe year as follows.. 2023 2022 O.M. Bo(*s Foundation Mr Paul Sands (Director) is also a Iruslee of Russèll Park Baptist ChuT¢h, a co.operating charitywhlch donated £1,104 to the charity duriny tho yeai {2022- £1,153). 1.173,324 7,079 FIXED ASSETS Computer equipment Total Cost or Valuation At 1 January 2023 Addilions Disposals At 31 Dtrcembèr 2023 724 724 724 724 Depraclatlon At 1 January 2023 Charge fof yeaf D15PQsals At 31 Dgcembgr 2023 723 723 723 723 Net book value At 31 D•c8mber 2023 At 31 De¢an*er 2022 Page 12 FREEDOM NETWORK INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 DEBTORS 2023 2022 Income lax re￿Verable Prépayments 11.737 2,191 12,oe6 2,031 13.928 14,097 10. CREDITORS: amounts falling dug within one year 2023 2022 A¢¢ruals Other ¢reditors 91.157 1,133 110,092 1.166 92.290 111,258 11. STATEMENT OF FUNDS At l JanLJÈry 20rJ 131 DÈcem 2023 IrKwe Exr*ncliure Tr4nsf8r6 UnrestrScted funds: Gw)èra1 reserve 92,751 91,168 1186.e801 1Cfj,689 103,928 Restrl¢t•d fund8: DFN UK 1 1.284,￿ 11.157,9181 11Q6,6891 Totsl funds 92,752 1,351774 11,344,598) 103,928 DFN UK represents funds donated for the Dignity F￿d0M Nthork PToie¢ts, The transfer of futxls out of DFN UK into the general resèrve r&presents management feès ￿ all gifts for India.