THE TRUTH SETS FREE LTD
UNAUDITED
FINANCIAL STATEMENTS AND DIRECTORS' REPORT
for the
YEAR ENDED 31 MARCH 2025
Co. No: 06041253 Charity No: 1127898
THE TRUTH SETS FREE LTD
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31st March 2025
| Contents | ||
|---|---|---|
| Page | ||
| Company Information | 1 | |
| Report of the Directors | 2 | |
| Income Statement | 3 | |
| Balance Sheet | 4 | |
| Notes to the Financial Statements | 5 | |
| Trading and Profit and Loss Account | 9 |
THE TRUTH SETS FREE LTD
COMPANY INFORMATION for the year ended 31 March 2025
TRUSTEE Kenneth Zoumavo Lydie C Ngo Nguimbouk Letty Toto Vivian Osei-Akoto
Company number 06041253 ( England and Wales)
Charity number 1127898
Registered office Flat 3 257 Holmesdale Road London SE25 6PR
Page 1
THE TRUTH SETS FREE LTD
DIRECTORS' REPORT for the year ended 31 March 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements for the year ended 31 March 2025.
The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005
PRINCIPAL ACTIVITY
The Principal activity of The Truth Sets Free Ltd is to promote religious activities, church services and related seminars as well as support other charitable activities.
The charity was established under a Memorandum of Association and is governed under its Articles of Association. The daily management of the church is delegated to a management team from all walks of life.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
ON BEHALF OF THE BOARD:
K Zoumavo - Trustee
24 December 2025
Page 2
THE TRUTH SETS FREE LTD
STATEMENT OF FINANCIAL AFFAIRS for the year ended 31 March 2025
| Notes Incoming Resources 9 Tithes and offerings Gift Aid Bank interest Total Incoming Resources Resources expended 10 Total charitable activities Total govenance cost 11 Total Resources Expended Net Incoming / Outgoing Resources Reconciliation of Funds Total Funds brought forward Total Funds carried forward |
Total 2025 £ 34,705 - 114 34,819 39,534 2,542 42,076 7,257 ) ( 33,582 26,325 |
Total 2024 £ 38,589 6,003 64 |
|---|---|---|
| 44,656 | ||
| 37,666 2,681 |
||
| 40,347 | ||
| 4,309 | ||
| 29,273 | ||
| 33,582 |
All of the company's operations are classed as continuing. The company had no recognised gains and losses for the year other those shown above. The movement on reserves is shown above and in in notes 7.
The notes form part of these financial statements
Page 3
THE TRUTH SETS FREE LTD
BALANCE SHEET as at 31st March 2025
| Notes FIXED ASSETS Tangible assets 3 CURRENT ASSETS Debtors 4 Cash at bank and in hand CREDITORS Amount falling due within one year 5 NET CURRENT (LIABILITIES)/ASSETS NET ASSETS RESERVES General Funds 8 |
£ £ 7,485 5,659 14,982 20,641 4,767 15,874 23,359 23,359 23,359 2025 |
£ £ 7,485 5,659 14,982 20,641 4,767 15,874 23,359 23,359 23,359 2025 |
£ £ 8,044 5,698 18,650 24,348 595 23,753 31,797 31,797 31,797 2024 |
£ £ 8,044 5,698 18,650 24,348 595 23,753 31,797 31,797 31,797 2024 |
|---|---|---|---|---|
| 20,641 4,767 |
24,348 595 |
|||
| 23,359 | 31,797 | |||
| 23,359 | 31,797 | |||
| 23,359 | 31,797 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
(a) Ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) Preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Directors on 24 December 2025 and signed on its behalf by:
K Zoumavo - Trustee
The notes form part of these financial statements Page 4
THE TRUTH SETS FREE LTD
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2025
1. ACCOUNTING POLICIES
Accounting convention
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents donations and gifts to the church
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each assets over its estimated useful life.
Fixed Assets - 25% on reducing balance
2. OPERATING (LOSS)/PROFIT
The Operating Profit (2025 - operating profit) is stated after charging:
| Depreciation - owned assets | 2025 £ 2,492 |
2024 £ 2,681 |
|---|---|---|
Page 5
THE TRUTH SETS FREE LTD
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2025
ACCOUNTING POLICIES - continued
| 3 TANGIBLE FIXED ASSETS Media Music Office Fixtures Motor Equipment Equipment Equipment and Vehicles Fittings etc £ COST At 1st April 2024 24,934 18,761 12,677 9,031 9,041 Additions in the year 859 182 894 - - At 31st March 2025 25,793 18,943 13,571 9,031 9,041 DEPRECIATION At 1st April 2024 24,246 16,153 10,992 8,829 6,180 Depreciation for the year 386 698 645 51 715 At 31st March 2025 24,632 16,851 11,637 8,880 6,895 NET BOOK VALUE At 31st March 2025 1,161 2,093 1,934 152 2,146 At 31st March 2024 689 2,608 1,684 203 2,861 4 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £ Trade Debtors 3,938 Other debtors 1,721 5,659 5 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £ Trade Creditors 4,149 Taxation and Social Security 381 Other Creditors 237 4,767 6 EMPLOYEES AND DIRECTORS |
3 TANGIBLE FIXED ASSETS Media Music Office Fixtures Motor Equipment Equipment Equipment and Vehicles Fittings etc £ COST At 1st April 2024 24,934 18,761 12,677 9,031 9,041 Additions in the year 859 182 894 - - At 31st March 2025 25,793 18,943 13,571 9,031 9,041 DEPRECIATION At 1st April 2024 24,246 16,153 10,992 8,829 6,180 Depreciation for the year 386 698 645 51 715 At 31st March 2025 24,632 16,851 11,637 8,880 6,895 NET BOOK VALUE At 31st March 2025 1,161 2,093 1,934 152 2,146 At 31st March 2024 689 2,608 1,684 203 2,861 4 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £ Trade Debtors 3,938 Other debtors 1,721 5,659 5 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £ Trade Creditors 4,149 Taxation and Social Security 381 Other Creditors 237 4,767 6 EMPLOYEES AND DIRECTORS |
3 TANGIBLE FIXED ASSETS Media Music Office Fixtures Motor Equipment Equipment Equipment and Vehicles Fittings etc £ COST At 1st April 2024 24,934 18,761 12,677 9,031 9,041 Additions in the year 859 182 894 - - At 31st March 2025 25,793 18,943 13,571 9,031 9,041 DEPRECIATION At 1st April 2024 24,246 16,153 10,992 8,829 6,180 Depreciation for the year 386 698 645 51 715 At 31st March 2025 24,632 16,851 11,637 8,880 6,895 NET BOOK VALUE At 31st March 2025 1,161 2,093 1,934 152 2,146 At 31st March 2024 689 2,608 1,684 203 2,861 4 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £ Trade Debtors 3,938 Other debtors 1,721 5,659 5 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £ Trade Creditors 4,149 Taxation and Social Security 381 Other Creditors 237 4,767 6 EMPLOYEES AND DIRECTORS |
Total 74,444 1,935 76,379 66,400 2,494 68,894 7,485 8,044 2024 £ 3,954 1,744 |
|---|---|---|---|
| 25,793 18,943 13,571 |
9,031 9,041 |
||
| 24,246 16,153 10,992 386 698 645 |
8,829 6,180 51 715 |
||
| 24,632 16,851 11,637 |
8,880 6,895 |
||
| 1,161 2,093 1,934 |
152 2,146 |
||
| 689 2,608 1,684 |
203 2,861 |
||
| 2025 £ 3,938 1,721 5,659 2025 £ 4,149 381 237 4,767 |
|||
| 5,698 | |||
| 2024 £ 210 385 - |
|||
| 595 | |||
The average number of employees during the year was 1 (2024 - 1).
Page 6
THE TRUTH SETS FREE LTD
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2025
ACCOUNTING POLICIES - continued
7 SHARE CAPITAL
The charity is limited by guarantee.
8 RESERVES
£ At 1st April 2024 30,616 Profit for the year ( 7,257 ) At 31 March 2025 23,359
Page 7
THE TRUTH SETS FREE LTD
Statement of Financial Activities for the year ended 31 March 2025
| 9 Incoming resources from charitable activities Tithes and Offering Gift Aid Bank Interest 10 Resources expended Wages Social Security Pensions Media accessories Small office equipment Web hosting & services Advertising Visiting Pastors Honourarium Rent & Rates Repairs & Servicing Cleaning & Waste Travel cost Motor expenses Professional Fee Telephone Office stationery Subscription Insurance 11 Governance costs Bank interest & charges Depreciation Total Resources expended NET (DEFICIT) / SURPLUS |
2025 £ 34,705 - 114 34,819 15,000 814 262 734 - 220 205 - 18,679 335 258 - 724 - 314 245 - 1,744 39,534 50 2,492 2,542 42,076 7,257 ) ( |
2024 £ 38,589 6,003 64 |
|---|---|---|
| 44,656 | ||
| 14,251 704 241 461 619 661 60 - 16,559 275 87 841 - 521 651 89 145 1,501 |
||
| 37,666 | ||
| - 2,681 |
||
| 2,681 | ||
| 40,347 | ||
| 4,309 |
This page does not form part of the statutory financial statements
Page 8