CALVARY OF FREEDOM EVANGELICAL MINISTRY
Charity No. 1147544
Trustsos. Report and Unaudlted
Accounts 31 Docèmbor 2024

CALVARY OF FREEDOM EVANGEUCAL MINISTrY
Contents
Pages
Trustees, Annual Report
Statement of Financial Activities
Balance Sheet
Statement of Cash flows
Notes to the Account5
6t08
Detailed Statement of Flnanclal AttNities
9tolO
Page I

CALVARY OF FREEDOM EVANGEUCAL MINISTrY
Trustees Annual Report
The trustee5 present their report with the unaudited financial statements of the charity for the year ended
31 December 2021.
REFERENCE AND AOMINISTRATIVE DETAILS
Charlty No. 1147544
Trustees
The following trustees seNed during the year.
l. Alayi
F.K. LAWAL
K.R. OKETOLA
Accountsnts
Charles Luf & Co
134D Kingsland
Road
London E2 80Y
08JEcfivES AND ACTIVITIES
TO ADVANCE THE CHRisnAN RELIGION FOR THE 8ENEFITOFTHE PU8LIC IN ACCORDANCEWITHTHE
STATEMENTS OF BELIEF APPEARING IN THE ArrACHED SCHEDULE IN BARKINGAND OAGENHAM.
The maln actfvities undertaken in relation to those purposes...The first fvnction of the church In any
community is education in religion and morality. the mini51ry to the inner life. The churches have It withln
their power to bring to the people the consciousness of God. and of the invisible wodd, and to release the
spiritual forces that lie back in every man's heart. This includes these purposes are worshlp, fellowship,
dlsclpleshlp, ministry, and mission.
Actlvlty I prolect l servlce Iprovislon of mobile food bank for the homeless
Actlvlty I project I servlce 2Assistln8 church members financlally in times of hardship
Provision of Lecture, symp055um, semlnars and conterences
ACHIEVEMENT5 AND PERFORMANCE
A larger charity must provide an explanation of any material expenditure octurred to raise income in the
future...
Ststement of trustees, responslbllllles In relallon to the flnanclal statsments
The charity trustees are ￿SPonsible for preparing a trustees, annual report and financial statements in
accordance with applicable law and United Kingdom Accountlng Standards (United Kingdom Generally
Accepted Accounting Practlcel.
Page 2

CALVARY OF FREEDOM EVANGEUCAL MINISTrY
Trustees Annual Report
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuraty at
any time the financial position of the charity and to enable them to ensure that the financial statements
comply with the Charities Act 2011. the applrcable Charities IAtcounts and Reports) Regulations. and the
provisions of the Trust deed. The Trustees are also resp¥)nsible for safeguarding the assets of the charity and
hence takin8 reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
l. Ajayi
Trustee
1411012025
Page 3

CALVARY OF FREEDOM EVANGELICAL MINISTrY
Statement of Financial A¢tiviti
for the yèar ended 31 De¢ernber 21)Z4
Totsl funds Totsl fvnds
2024
2024
Income and endowments
from:
Donatlons and legacies
Other
95,975
6,520
95,975
6,520
Total
102,496
75,034
Expendllure on:
Charitable activities
other
16,107
72,062
16,107
72,062
Total
88,169
88,169
Net gains on investments
Net {expendlturelllncome
Transfers between funds
14.327
14,327
Net lexpendlturel/lrt¢ome
before other galnslllosses)
14.327
14.327
Other 8alns and k>sses
Net movernent Sn fvnds
14,327
14,327
Reconclllatlon of fund5:
Total funds brought forward
Total fund5 carrled forward
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CALVARY OF FREEDOM EVANGEUCAL MINisfRY
Balance Sheet
at 31 December 2024
Charity No. 1147544
2024
Flxed assets
Tangible assets
745
745
Curreni assets
Debtors
Cash at bank and in haNI
7,007
9,594
Credltors: Amount fallinB due within one year
Net current assets
li
7,798
Total assets le55 current liabllitles
25,145
Credltors: Amount5 falling due after more than one year
Provl$lons for Ilabllltles
13
Net asset5 excludlnB penslon asset or Ilablllty
25,145
Totsl net assets
25,145
The funds of the charfty
Restrlcted fur￿$
Unrestrfcted funds
General funds
10.818
14
14,327
Reserves
Totsl fund$
25,145
Approvèd by the trustees on 31 December 2021
And signed on their behalf by:
F.K. LAWAL
Trustee
1411012025
Page 5

CALVARY OF FREEDOM EVANGEUCAL MINisfRY
Notes to the Accounts
for the year ended 31 Oecember 2024
l Ac¢ountln8 pollcle$
Basls of preparatlon
The financial statements have been prepared in accordance with Statement of Recommended Practice:
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic if Ireland IFRS 1021 issued on 16 Juty 2014 and the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the
Charities Act 2011.
Change In basls ol a¢c4)untlng or to pre¥lous accounts
There has been no change to the atcounting policies (valuation rules and method of accounting) sin
last year and no changes have been made to accounts for pwious years.
Fund account5ng
Unrestricted funds These are availab￿ for use at the discretion of the trustees in furtherance of the
general objects of the charlty.
These are unrestricted funds eamiarked by the trustees for particular purpose5.
These are unrestrfcted funds whlch include a revaluatlon reseNe representlng the
statement of investment assets at their market values.
These are available for use subject to restrictlons Imposed by the donor or through
terms of an appeal.
Desi8nated funds
Revaluation funds
Restrlcted funds
Income
Recognition of
Income
Income Is Sncluded In the Statement of Flnanclal Artlvltles ISOFAI when the charlty
becomes entitled to. and virtually certain to recelve, the income and the amount of
the income can be measured wilh sufficlent reliability.
Income with reloted Where income ha5 related expenditure the income and related expenditure is
expendSture
reported gross In the SOFA.
Donations and
le8acies
Voluntary Income recelved by way of 8rants, donatlons and Eifts Is included In the
the SOFA when receivable and only when the Charlty has uncondltlonal entitlement
to the income.
Tax recloims on
Income from tax reclaims 15 included in the SOFA at the Same time as the
donations and gifts giftldonation to which it relates.
Donated services
These are only included in income Iwlth an equlvalent amount in expendlturel
and facilities
where the benefit to the Charity is rea￿nablY quantifiable, measurable and
material.
Volunteer help
The value of any volunteer help Tr￿Ned[s not included In the accounts.
Investment income This is included in the accounts when recewable.
Gain5111055e51 on
This includes any gain or loss resulting from revaluing investments to rna￿et value
revaluation of fixed at the end of the year.
assets
Gainslllossesl on
investment a55ets
This includes any gain or loss on the sale of investments.
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CALVARY OF FREEDOM EVANGEUCAL MINISTrY
Notes to the Accounts
Expendlture
Recognition of
expenditu
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which
cannot be fully recovered, and is reported as part of the expenditure to which it
relates.
Expenditure on
These comprise the costs associated with attracting voluntary income, fundraising
raising funds
trdding costs and investment management costs.
Expenditure on
These comprise the costs incurred by the Charity in the delivery of its activities and
charitable actNitie5 services in the furtherance of its objects, including the makin8 of grants and
governance costs.
All grant expenditure is accounted for on an actual paid basis plus an accrual for
Brants that have been approved by the trustees at the end of the year but not yet
paid.
These include those costs assoclated wlth meetlng the constitutional and statutory
requi￿rnents of the Charlty. Includlng any audivindependent examlnatlon fees.
Costs linked to the strategic management of the Charlty. together with a share of
other administration costs.
Other expendSture These are support costs not allocated to a partkulara¢tNity.
Grants payable
Governance costs
Taxatlon
The charity Is exempt Irom tax on Its charitable activities.
Frèehold Investm•nt property
Investment properties a￿ measured inltlally at cost and subsequently at fair value at each balance sheet
date and are not depreciated. All gain5 Qr k>sses are taken to the Statement of Financial Activities as they
arise.
Stocks
Stock Is Included at the lower of cosl or net realisable value. Donated items of stock are recognSsed ot falr
value which is the amount the charity woukl have been wlllin8 to pay for the Items on the open market.
Trade and other debtors
Trade and other debtors are recoBnised at the settlement amount due after any trade discount offered.
Prepayment5 are valued at the amount prepaid net of any trade dbscounts due.
Cash and Cash equlvalents
Cash and cash equivalents comprise cash at bank and on hand. demand dep051ts with banks and other
short-term hiBhly liquid imiestments with original maturities of three months or les5 and bank overdrafts.
In the statement of financlal position, bank over¢Jrafts a￿ shown within borrowings or current liabilities.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are
repayable on demand and forni an integral part of the company's cash management.
Trade and other credFtors
Short term creditors a￿ measured at the transaction price. Other creditors and provisions a￿ recognised
where the charity has a present obligation ￿sUItIng from a pay event that wlll probably result in the
transfer of fund5 to a third party and the amount due to settle the obligation can be measured or
estimated reliably. Creditors and provisions are normally recognised at their settlement amount after
allowing for any trade discounts due.
Page 7

CALVARY OF FREEDOM EVANGEUCAL MINISTrY
Notes to the Accounts
Research and development
Ex￿ndit￿re on research and development Is written off in the year in whlch it is incurred.
Forelgn currencies
Monetary assets and liabilities denominated in tu￿en{leS other than the funttional currency of the
charity are translated at the rates of exchange prevailing at the end of the reporting perlod.
Transactions in currencies other than the functional currency of the charity a￿ ￿Corded at the rate of
exchange on the date that the tran￿¢tIOn occurred.
All exchange differences are taken into account In arrfvlng at net intomelexpenditure.
Leased assets
Where the charity enters into a lease which entails takin8 substantially all the risks and rewards of
ownership of an asset, the lease is treated as a finance lease.
Leases whieh do not transfer substantially all the rlsks and rewards of ownership to chorlty are classified
a5 operating leases.
Assets held uniler flnance leases are Initial￿ reco8nised as assets of the charlty at their fair value at the
Inception of the lease or, if lower, at the present value of the mlnlmum kase payments, The
orrespondinB liability to the lessor is Included in the balance sheet date as a flnance lease obligation.
Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to
athieve a constant rate of interest on the remaining balance of the Ilablllty. Finance expenses are
recognised immedialely, unless they are directly attributable to qua15fylng assets, In whlch case they are
capitalSsed In accordan￿ with the charty's policy on borrowlng costs.
Assets held under financÈ leases are depreclated In the same way as owned assets.
Operatlng lease payments are retoinised as an expense on a stral8ht-Ilne basis over the lease term.
In the event that lease incentlves are recefved to enter into operating leases, such incentive5 are
recognlsed as a Ilability. The a88re8ate benefit of incenlive5 15 reco8nised as a reduction of rental
expense on a strai8ht-line basis.
Penslon c¢>5ts
The charity operates a defined contributSon plan for Its employees. A defined contribution plan Is a
pension plan under whlch the charity pays fixed contributions into a separate entlty- Once the
contributions have bèèn paid the charrty has no further payments obll8ations. The contributions are
recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.
The assets of the plan are held separately from the charity in independently administered funds.
Recelpt of donated goods. facllltles and ser¥lces
All donated Boods. facilities and services ￿CeiVed are reco8nised wlthin Incoming resources and
expenditure at an estimate of the value to the charity.
Page 8