## **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<br>**Incoming Resources**<br>9<br>Tithes and offerings<br>Gift Aid<br>Bank interest<br>**Total Incoming Resources**<br>Resources expended<br>10<br>Total charitable activities<br>Total govenance cost<br>11<br>**Total Resources Expended**<br>**Net Incoming / Outgoing Resources**<br>**Reconciliation of Funds**<br>Total Funds brought forward<br>**Total Funds carried forward**|Total<br>2025<br>£<br>34,705<br>-<br>114<br>34,819<br>39,534 <br>2,542 <br>42,076 <br>7,257 )<br>(<br>33,582 <br>26,325|Total<br>2024<br>£<br>38,589<br>6,003<br>64|
|---|---|---|
|||44,656|
|||37,666 <br>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**<br>**FIXED ASSETS**<br>Tangible assets<br>3<br>**CURRENT ASSETS**<br>Debtors<br>4<br>Cash at bank and in hand<br>**CREDITORS**<br>Amount falling due within one year<br>5<br>**NET CURRENT (LIABILITIES)/ASSETS**<br>**NET ASSETS**<br>**RESERVES**<br>General Funds<br>8|**£**<br>**£**<br>7,485 <br>5,659 <br>14,982 <br>20,641 <br>4,767 <br>15,874 <br>23,359 <br>23,359 <br>23,359 <br>2025|**£**<br>**£**<br>7,485 <br>5,659 <br>14,982 <br>20,641 <br>4,767 <br>15,874 <br>23,359 <br>23,359 <br>23,359 <br>2025|£<br>£<br>8,044<br>5,698 <br>18,650 <br>24,348 <br>595 <br>23,753 <br>31,797 <br>31,797<br>31,797 <br>2024|£<br>£<br>8,044<br>5,698 <br>18,650 <br>24,348 <br>595 <br>23,753 <br>31,797 <br>31,797<br>31,797 <br>2024|
|---|---|---|---|---|
||20,641 <br>4,767||24,348 <br>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<br>£<br>2,492|2024<br>£<br>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**<br>**TANGIBLE FIXED ASSETS**<br>Media<br>Music<br>Office<br>Fixtures<br>Motor<br>Equipment<br>Equipment Equipment<br>and<br>Vehicles<br>Fittings<br>etc<br>**£**<br>**COST**<br>At 1st April 2024<br>24,934<br>18,761<br>12,677<br>9,031<br>9,041<br>Additions in the year<br>859<br>182<br>894<br>-<br>-<br>At 31st March 2025<br>25,793<br>18,943<br>13,571<br>9,031<br>9,041<br>**DEPRECIATION**<br>At 1st April 2024<br>24,246<br>16,153<br>10,992<br>8,829<br>6,180<br>Depreciation for the year<br>386<br>698<br>645<br>51<br>715<br>At 31st March 2025<br>24,632<br>16,851<br>11,637<br>8,880<br>6,895<br>**NET BOOK VALUE**<br>At 31st March 2025<br>1,161<br>2,093<br>1,934<br>152<br>2,146<br>At 31st March 2024<br>689<br>2,608<br>1,684<br>203<br>2,861<br>**4**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>2025<br>£<br>Trade Debtors<br>3,938<br>Other debtors<br>1,721<br>5,659<br>**5**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>2025<br>£<br>Trade Creditors<br>4,149<br>Taxation and Social Security<br>381<br>Other Creditors<br>237<br>4,767<br>**6**<br>**EMPLOYEES AND DIRECTORS**|**3**<br>**TANGIBLE FIXED ASSETS**<br>Media<br>Music<br>Office<br>Fixtures<br>Motor<br>Equipment<br>Equipment Equipment<br>and<br>Vehicles<br>Fittings<br>etc<br>**£**<br>**COST**<br>At 1st April 2024<br>24,934<br>18,761<br>12,677<br>9,031<br>9,041<br>Additions in the year<br>859<br>182<br>894<br>-<br>-<br>At 31st March 2025<br>25,793<br>18,943<br>13,571<br>9,031<br>9,041<br>**DEPRECIATION**<br>At 1st April 2024<br>24,246<br>16,153<br>10,992<br>8,829<br>6,180<br>Depreciation for the year<br>386<br>698<br>645<br>51<br>715<br>At 31st March 2025<br>24,632<br>16,851<br>11,637<br>8,880<br>6,895<br>**NET BOOK VALUE**<br>At 31st March 2025<br>1,161<br>2,093<br>1,934<br>152<br>2,146<br>At 31st March 2024<br>689<br>2,608<br>1,684<br>203<br>2,861<br>**4**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>2025<br>£<br>Trade Debtors<br>3,938<br>Other debtors<br>1,721<br>5,659<br>**5**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>2025<br>£<br>Trade Creditors<br>4,149<br>Taxation and Social Security<br>381<br>Other Creditors<br>237<br>4,767<br>**6**<br>**EMPLOYEES AND DIRECTORS**|**3**<br>**TANGIBLE FIXED ASSETS**<br>Media<br>Music<br>Office<br>Fixtures<br>Motor<br>Equipment<br>Equipment Equipment<br>and<br>Vehicles<br>Fittings<br>etc<br>**£**<br>**COST**<br>At 1st April 2024<br>24,934<br>18,761<br>12,677<br>9,031<br>9,041<br>Additions in the year<br>859<br>182<br>894<br>-<br>-<br>At 31st March 2025<br>25,793<br>18,943<br>13,571<br>9,031<br>9,041<br>**DEPRECIATION**<br>At 1st April 2024<br>24,246<br>16,153<br>10,992<br>8,829<br>6,180<br>Depreciation for the year<br>386<br>698<br>645<br>51<br>715<br>At 31st March 2025<br>24,632<br>16,851<br>11,637<br>8,880<br>6,895<br>**NET BOOK VALUE**<br>At 31st March 2025<br>1,161<br>2,093<br>1,934<br>152<br>2,146<br>At 31st March 2024<br>689<br>2,608<br>1,684<br>203<br>2,861<br>**4**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>2025<br>£<br>Trade Debtors<br>3,938<br>Other debtors<br>1,721<br>5,659<br>**5**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>2025<br>£<br>Trade Creditors<br>4,149<br>Taxation and Social Security<br>381<br>Other Creditors<br>237<br>4,767<br>**6**<br>**EMPLOYEES AND DIRECTORS**|Total<br>74,444<br>1,935<br>76,379<br>66,400<br>2,494<br>68,894<br>7,485<br>8,044<br>2024<br>£<br>3,954<br>1,744|
|---|---|---|---|
||25,793<br>18,943<br>13,571|9,031<br>9,041||
||24,246<br>16,153<br>10,992<br>386<br>698<br>645|8,829<br>6,180<br>51<br>715||
||24,632<br>16,851<br>11,637|8,880<br>6,895||
||1,161<br>2,093<br>1,934|152<br>2,146||
||689<br>2,608<br>1,684|203<br>2,861||
|||2025<br>£<br>3,938<br>1,721<br>5,659<br>2025<br>£<br>4,149<br>381<br>237<br>4,767||
||||5,698|
||||2024<br>£<br>210<br>385<br>-|
||||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**<br>Incoming resources from charitable activities<br>Tithes and Offering<br>Gift Aid<br>Bank Interest<br>**10**<br>**Resources expended**<br>Wages<br>Social Security<br>Pensions<br>Media accessories<br>Small office equipment<br>Web hosting & services<br>Advertising<br>Visiting Pastors Honourarium<br>Rent & Rates<br>Repairs & Servicing<br>Cleaning & Waste<br>Travel cost<br>Motor expenses<br>Professional Fee<br>Telephone<br>Office stationery<br>Subscription<br>Insurance<br>**11**<br>**Governance costs**<br>Bank interest & charges<br>Depreciation<br>Total Resources expended<br>**NET (DEFICIT) / SURPLUS**|2025<br>£<br>34,705<br>-<br>114<br>34,819 <br>15,000<br>814<br>262<br>734<br>-<br>220<br>205<br>-<br>18,679<br>335<br>258<br>-<br>724<br>-<br>314<br>245<br>-<br>1,744<br>39,534 <br>50<br>2,492<br>2,542 <br>42,076 <br>7,257 )<br>(|2024<br>£<br>38,589<br>6,003<br>64|
|---|---|---|
|||44,656|
|||14,251<br>704<br>241<br>461<br>619<br>661<br>60<br>-<br>16,559<br>275<br>87<br>841<br>-<br>521<br>651<br>89<br>145<br>1,501|
|||37,666|
|||-<br>2,681|
|||2,681|
||||
|||40,347|
|||4,309|



This page does not form part of the statutory financial statements 

Page 8