Ch*ritv registrfition number 1149122 Company registration number 080785Z9 (England and M'ales) FREEDOM POWERCHAIRS LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
FREEDOM POWERCHAIRS LTD LEGALAND ADMINISTRATIVE INFORMATION TrustttS D Trigmtll M Osmeni T Dai. H ThOrnp-s1th[ Chrlty thumber 1149122 Companv number 08078529 Registered office r¢¢(kbm Ilouse 2A taerS Court ShohaM M. sea 51 Suwx N43 51.. Independent examiner D4wrLn ACA FCC'A DC'hA Richard PlacL T)obwn r%ici% l.lin1 1-7 Siaiitsn Road LrdM'IL)' %u¥>¢x
FREEDOM POWERCHAIRS LTD coiYrENTS Page TrustLh Inden(kn1 examinerfs rern Siak'meni of financial aciiviiies FlulanLL yhLYI Not¢¥ io ih¢ linan¢ial stsi¢m¢nts
FREEDOM POWERCHAIRS LTD
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 JUL Y2023
The truskes pre5eni their annual rer and financial sthkments for the yearended 31 Juls 2023.
The financial stalemenis have iK¢n prepared in accordance i¥iih the accourhiing p)licies sei out in notr I to the financial
taieni¢nL4 and cDtllpl>' M'ith Ihe charilj's Il¢nioTandutn and Article.£. th¢ Compwiie%.4a 2006 and 'Accnuiiiing and Kewrting
ChJrili¢_%.' Stsi¢tn¢nt Ill- R¢wffltn¢nd¢d PTaclic¢ appli¢abl¢ w chJriii¢% PT¢PaTillg th¢iT ar)unt% Iti a¢¢()rdanL¢ willi Ili¢
Firt&llLial Repirting Sthnddrd ttpplii&bl¢ in lh¢ LIK and Republic Uri]and IFRS 1021. lelT¢¢live l Januat>' 20191.
Objtttivts etLVlties
I. Tu wilh r¢'liil- fur disiiblid 0P1¥ risi(k'ni in EnglaNi JtHI il%¥ii'hL'rL ivhu ar¢ in n¥¥d. h!. pn)viding %Lia11Y d¢si¥n¥d
or adJptLJ w%vir whiil Lhairs. and I.]n s¢'Th'ii¢s or fJLiliti¥s ¢J¢ula. w tLli¥v¢ th¢ txIS. of su¢h p¢N)ns.
2. To ahsis110 relieve the irnpa ofdisabilii). financial hardship. rx)or healih and si
FREEDOM POWERCHAIRS LTD TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {coiYfiNUED) FOR THE YEAR ENDED 31 JUL Y2023 Th¢ tTusl¢e5' rew)rt was approY¢d b) th¢ Buatd ofTrusi¢¢s. M Obmtnt Trusttt Date.. P38¢ 2
FREEDOM POWERCHAIRS LTD
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF FREEDOM POWERCHAIRS LTD
I rerrt to Iht trustees on mv examination of the firthneial sthtrments of Freedom P0erchaIrs Ilk charityi for the vear
ended 31 July 2023.
Responsibilities and basis of pOrt
As IhL IrublLLi ol. IhL Lh4qrii%' land also its direciors for Ihe pUrrS of comp8nv 1811.) vou are Teswnsible for the preparaiion of
the linancial btateinents in aLLordanct iiiih r¢quir¢m¢nis ofihe Companies Aci 20061ihe 20116 Acii.
Having sati%fied rn)'ll-thal finaThcial.4iatemenLs ofthe charii) are required to audid under Part 16 of ihe 2006 ALI
nJ ¢li¥ihlL lur ind¥p¥nJinl lxatninalion. l rntx)n in ri£l ofmi LX4unilliiliUTh l)f th¥. ¥hJrii)' s finJn¢ial %iaw'minL4 14rrivd
uul und¥r s¥iliun 145 uf lh¥ Lharilii5 ALI 2011 (th¥ 2011 ALii_ In oul ttL> i.Xiuninaiivn I htsl (ullui¥id all thi
ppIiLable Direetions given by the Charii) Commission under section 14515Kbl ofthe 2011 A<1.
Indeptndent tAAminer's stAtemtnl
I havi ¢i)tnplKl¢d rnv ¢x4minJiiun. l Luinfirm ihai Mat. ¢om¥ w m). ainiHTrn ith ¢onn¥¢lion with th¢ ¢¥wninativn
gi% inbi ML eausc 10 LK,IiLVL Ihai irt any material res1..
aLLouDiing TLLor(l% HLfL nol k'ipl in rL4rKci of charity requiTcd by r<¢tion 386 ofthc 2006 ALI: or
thL linanLial siaiimLni% th) noi aLtord with rLcords.' or
IhL linunLiul du nvl Lujnpl) M'iih ihl aLwunling rwuirLm¢nts of sL'¢lion 396 th¢ 2006 All vihlr ihan any
rLquiwin¢ni Ihai ¢h¥ a¢¢ounis gi%¢ a tru¢ armi fair vi¢. "hICh is noi a maiilr nSider¢ as part (if an ind¥fvn.nt
Ihi liii
FREEDOM POWERCHAIRS LTD STATEMENT OF FINANCIAL ACTIN'ITIES INCLUDING INCOME AND EXPENDITURE AccouNr FOR THE YE4R ENDED 31 JUL Y2023 Unre$tri¢ted funds 2023 Ilnrestri¢ted fund¥ 2022 Notts Income from: Dondiions and ILgilLj¢S 25.889 23.443 26.223 8.9SY InvLsimLnis Totil income 49.337 35.1¥3 Lxpenditure on: 44.182 Total txpenditure 44.1¥2 Net in¢omellexpenditurel and movtmtnt IA funds 5.155 Reconcili8tion of fund5: Fund baldnLL% at l Aug%[ 2022 16.5251 Fund balanees at 31 Juli. 2023 16.5251 'I'hL ltltLMLnt or rinanLial ttciiviiies incl$ all 8ain$ ld lo**$ r¢¢iTr8nis¢d it) th¢ s"¢thr. All income ttnd ¢xrKnditurL' derive Irom Loniinuin¥i tIllI1s. P38¢ 4
FREEDOM POWERCHAIRS LTD BALANCE SHEET ASAT31 JULY2023 2023 2022 Notos Fixed assets TangiblL aSStlS 12 874 Current IlS8tts D¢hi()r% Lash at bank and in har 13 6.051 7(M 3.20tI 1.0¥7 6.1141 4.295 CditOrs. mounts flling dut within ont ytar 14.8911 Net current aJJttJllliabilitit51 1.950 Total a55tt5 less current liabilities 2.824 Crtditors: mount$ fllin% dy¢ fttr mo th¥th otht y¢•r 16 14.1941 11.3701 16.5251 Th¢ futtd$ of ih¢ ¢h¥rl¢¥ 17 11.3701 l(F.5251 11.3701 16.5251 Thi Liimpany 15 LniiilLd tu IIK. exemption from the audii rLquiremeni (nined in seciion 477 uf thL C"i)mpaniLs Ail 2006. fi)r Ihl vcar LndLd 31 Julv 20•3. Th¢ dir¥clors acknowlcdge their re5rthsibilili¢5 for compl)"ing with lh¢ r¢quir¢m¢nts of th¢ Cotnpanie5 Ad 2006 14.iih r¢5PECt to acciiunting r¢¢Drd% and the pr¢paraiiDn or rinanrial stst¢m¢nts. 'I'he mLmhL'rn hdie nut re4uired the compithi. to obtain an dtsdii ofits financial StaMel fur the Jeur in 4ue5lj()n in dLLc1rd¢e iih siciion 476. Th¢s¢ Iinaniial stai¢m¢nts have iK¢n prepaT¢d in accordanc¢ u.ith Ihe provisions applicabl¢ lo compani¢5 subjeci kn the small compani¢s r¢gim¢. 'I'he financial staletnent5 were appr()s'ed bs. the tru51ee50rt......................... M Osmenl Trusttt Companj rLgisiraiion numbcr 08078529 (Ertgiand aThl M'dlsl p38¢ 5
FREEDOM POWERCHAIRS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JUL Y2023 Accounting polities Charity information FrL.dtsm PtsssLTchdirs Lid is a privaiLb Lompani" limilLd bi guardthieL' irtCOTwraiLd in ErtLland and WalLs. The rLgisitred oifiLe is Freedoni House. 2A Il'ea%'ers CourL Ropetsckle. Shoreham b), se& Ilesi Sussex. BN43 SES. Accounting convention 'IhL linanLial sldiLmilliS havL Ikx'n prepad ith accordance with the charili's Memordrtdum and Articles ineorpordied on 22 Ma). 2012. (he C'ompanies Aci 2006. 1-.RS 10? -Tlie financial Rtwning Siaiidard applicable in ilie LIK aiid Republic ol. Iriland'- I'"I'.R% 102.1 and the ChariiiLS SORP 'Accouniing and Reryining b). C'liariiiLS'. Siaieineiii Ill. RiwiiiiiILiidid PraLIILL' appliiablL io chariiies prcpuring iheir aceounis in accoriLwicc ii'iih Ihc 1.In7clal RcnIng %IAiidard 11ppliciiblc in Ihl IIK RLpublic of [lnd IFK% 1021" lelTeaiv¢ l JanuaTh. •0191. The charity is a l>ubliL Benefit bnlity a% .linLd b) 102. The financial StamentS ar¢ pr¢paY¢d in SrlIng. H'hi¢h is tk fu11011 ¢urr¢n¢v of ¢hari¢y. Mon¢w ainounts in these linanLldl siaiemenis are routmled 10 the nearesl E. 'I'hL linancial $tak"mLnL% have ken prepared under ihe hiSrical COM conveniion. Imodificd iiicludc ilic revaluatioii ol. lrriihi)Id pThirrtl. and ii) inLludL inii%imLrii proFKrti¢s and cenain financial lnstyumLn ai fair valuLI. priiiLipal ILLI)unlinb r&>liii¢> a(k)ptid aTL SLI oui iK'Io%i'. 1,2 Going eoTh¢¢r Ai Ihl IiiiIL Ill. Uppml8 fJnanLial alcnnL% th Ilue¢S havc a rc&gTrnable cxrKxlalion thai illl Lharil) ha4 adL4ualL i)urLi4 1<) L(IniinuL in iir&rali(Inal LxiILnci li>r ItK' r(ITLxLablL luiurL. .111 Ihl Iru%lL%% acLipI Ihui IhLir lund% 31 ¥1 Jul} 21123 ari al a n¢galiv¢ balaiiiL uf £1.370 is &nabl¥ pn)miyc Ihal ilic Lharil>- ¢aii uiiiliiiui (iP¥raliii& liir 12 Iniinih% Iri)m th¥ balani¢ 4h¥¥l %ignirtg dai¢.'lThus th¥ irusitts )nlIrt 0p¢ lh¥ going ¢i)ni¢m l¥J%iy Iil'aiiiiuiiiing in pr4purin¥ ihi linwi¢ial.%lul4rtK'nis. ,3 Ch•ri1gble fund5 IliirLstriLILd luiids are availabk for usc ihc discrciiorb of the wuscs in furthcrdncc or11r charlbIL objcclivc%. Intome Inloini 1.% T¢cogni%¢d wh¢n th¢ chariry is I¢Balty ¢ntiil¢d il aft¢T any rKrfom)arKc wnditjOll5 have bcen IncL the amounts can k m¢4sur¢d r¢liHbly. and it is probabl¢ lh inrn¢ ivill b¢ r¢IV¢d. Cash donation5 ar¢ rLYognised on rweiw. 011r donlon5 aT¢ r¢cognis¢d orK¢ the charitv has bcln nollfil of thL donation. uiilc55 FKTlormanc¢ condilion5 T¢qUiT¢ &f¢rral of the atnouni. Inwine lax recov¢r4ble iii latIO17 to doiiat10115 r¢r¥iv¥'d und¥r Qtill Aid or d¥'¢d5 of V¢an1 is r¢rogni5¢d al th¢ lim¢ of th¢ donalion. L¢gaci¢5 ar¢ r¢cognis¢d on ru¢ipt or oih¢TWi5e ifihe charii) ha5 ken TKblified oran ImndINg dislribulion. the ainount 15 kno%%"n. and r¢r¢ipi 15 exFKcd. If ¢h¢ arnounl 15 noi knoii"n. th¢ l¢gac)" is tsrad as a wntiiig¢nl IS Expenditure EApLndiliirL is fLLognised unce IheTe is a legal or LX)IJStrUClive obligaiion transfereu)nomic nLfil 10 a third parti,. li is pn)bablL ihai a transfer of economic ttncfits ivill t¢qUiTed in sdilcmcnL a1 ihc amouni of the obligaiion can measured r¢11abl>'. Exp¢nditure is cla55ifi¢d bb acliits.. The costs of ¢ach aaivih ar¢ trth up of the total of direct costs and 5har¢d cost5. including %uppnrt costs invi>li"ed in undettsk-IllE each actii"il!". Ditecl COSL atlTibutsble ts) a single aclii'ity aTe allocated directl li) Ihdt aclivitTr Shared Lu%ls i%"hich conltibule lo tllo than ac1111}. %upp()rt LXlS1% Ii'hiLh iicil aiiribuiablL 10 2 singlc aLliViI! arL apwrtioncd kiiicen (hose lI1]ll¢s on a basis consiskni lIh ihL use of rL'soufLCS. Central 518ff cosis ar¢ allocated on th¢ basis of time ni. and 1kwecii0n ChaS allocaied on ihe ky)nion of the asset'5 Use. P38¢ 6
FREEDOM POWERCHAIRS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 Accounting policies Icontinuedl 1.6 Tithgible fixed ssets "langibl¢ Iix¢d iniiiallj. rrKa5UT¢d co al sul>s¢quentl)' measured ai cosi or valuaiion. net of depT¢ciation and aD> itDpairrn¢nt los% l)epreciation i.s r¢cognised 50 as iiTitr off the cost OT ValU10n of assets less their residual values over theiT uselul lives on ih¢ l(I111)%4'ing b&%¢g'. Fixiurts and lillings 25Yo Siraighi line 'rhe gain or 1055 arising ort Ihe diskN)sal of an assei is dekmiined as Ihe ditTerence sale pr(Trceeds and Ihe carrying valuL ol'ihc a&8ei. and is Tecognid in ihi siaiL"milii orriwicial aciiviiits. Impirment of fixed sseis Ai rLpiirtingTr Lnd 11. chariiy rcvicM'% Ik calg amoupts of ILS wigiblc &%CLS dcL'm)iDL heIer iliirc i th¢ a%%( is ¢stimai¢d in urJ¢i ¢0 d¥¥i¢miin¢ th¢ ¢xK'ni imNimni Iossiifa> i. IA CHsh and cash equivlen15 C'J.41i aiid L&%li i4ui%dlLni% iticlude cath in hand. (kll$ held ai call with banK% other %knrt4erni liquid inve%iinL'lilS wilh i)rigli111 maiuriiiLs c)f IhrL moThihs or k's5. and bank iTr%'Lrdrafl.%. l18nk OVLrdrdll% arl H'iiliin bi)m)wing% in LurrLIii .9 Fin&n¢ial instruments 'I'hL ihariil iliLlid io appl%" the pri)visions 41f LI10n I l -Il&sic Financial In&trumenLS- and SL'Liion 12 '()IhL'r F'inanlial IrL%irumLnib I%%uLS i>fi.'RS 102 Ici all ofii% finanLial insinimcnis. FinanLial inslrufflinls ar¢ r¢cognis¢d in th¢ charil}'s balanc¢ sht¢t h¢ th¢ charilv b¢win¢s part> IL) lh¢ r(intractug1 provision% ol-lhe in8irum¢ni. 'inanLial lidhilitie.% drL' oif.¢Lt. li iih the nei amounis wnied in thL fLndn¢ial %iatLmLnt%. M"hLn ihLfL' 1% lig&?IlJ Lnfi)rLLablL rlghi 10 %LI OtrihL' fLLogni.d amounts and thLfL is an inicniion io lilL l)n a nLI ha%iq or ic) TLalisL IhL asscl and iiiili Ihc liabiliii simuliancousl).. Basicfio4Nciql qssets B&iL finanLial &ssLls. ii'hich includL' dcbiors and aNI bank balances. are iniiiall% Inca%uTed ai Iran¢[lon PTiL¢ incliiding Iransaciion Cosis and arL subx'quLnili carrild ai amonid cosi using Ihc eifeaii.c iniLfLsi mlihod unlLSS IhL arrnngLmLni ion51llllle5 a lin4mcing Irdnsaiiion. %Yhcrc Ihc irnn5aciion is mca5UTL'd ai Ihe PTLycni valul ol. Ihc liiiurL r¢c¥ipts discouni¥d at a mark¢t ral¢ ol. in1¢. financial a55¢ts rla55ili¢d as rer¢ivabl¢ M"ithin oiic year arc noi amonis¢d. Bo.¥icfinoncil liuhililie.T BusiL tinanlial liabiliiiLs. inc11ng crediioTS and nk loans are iniiiall!. recognised ai iransaction price unle55 the arrangeni¢nt con51ilut¢5 a financing Iransaclion. il-here the d¢bi inslrumeni is iiieisuTed at ilie preseiit Tralu¢ of the future paytn¢nts diwunL¢d al a matk"¢L rak of in1¢sL Financial liabiliiies rla55ifi¢d H5 paiabl¢ widiin on¢ )"ear ar¢ iiot rti%ed. Tra(k" crcdiiors arc obligations io pa) for gNts or TrIC¢S lh ha¥t acquired in ihe ordinaTh cours¢ of 0raI10nS troni suppliers. Amouiits pavable are cla55ified as curmii liabiliiie5 if pa)'meThi 15 due Viiihin one vear or lesq. It"noi. Ihe>' ar¢ pr¢5¢nt¢d a5 noll-curreni liabiliiies. Trade crediiors are Tecognised iniiiall!. ai Iransaciion price and 5ubs¢quentl>' rn¢asured at amnrtised cost wsing the effectis'e inlerey tn¢thod_ P38¢ 7
FREEDOM POWERCHAIRS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y2023
Critical ateounting esiimAtes And judgements
In the applicaiion of iht chariry's accouniing FKJlicies ihe tru*ees are required mak-e judgemenis, estimates and
a££utnpiion% aknut lh¢ carrj'ing aJnouThi of a&stis and liahiliiie£ thai ar¢ noi readilN appareiit fnirn o¢h¢r snurce%. "I lie
¢%litnal¢% < }ll411¢d asSUtnpiiuns ar¢ bJs¢d on hi%wiiLiil c[i¢nr¢ an(1 f
FREEDOM POWERCHAIRS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 ChAritAble #tiivitits Relief for disabled p¢opl¢ Z023 Relief for dIbled p¢ople 2022 tkpreciaiion MiltL'rial laknur RLni 0iLl, Cosis 'leleci)nimunicaiion5 Siind Charitabli (k>nuliorLS 438 12.774 15.352 6.520 438 16.465 20.4.35 2.831 3.872 302 1.509 41.349 43.397 Sharl lif 4upw?rt LO%li (SLL 71 %harL' iTrI'Bc)VL'rnancL Cf)sis ('L. 71 7.4116 2.711X 1.636 44.182 Support costs allocated to ¢livitits 1023 2022 Travel 837 2.484 3.X711 242 218 372 20 2.7118 l.olln in5uranc¢ Priniin¥. pi)slJ¥L siaiionerv Ad%¢rtising Oihir support costs lia¥crnanc¢ rosts 189 534 64 1.197 2.833 Anmlysed between.. ReliLI' l(Ir disahlLd 2.833 Net rnovement in fund5 2023 21122 "ITh¢ n¢t mOV¢Tn¢nt in fund5 É5 5tad after rhargingllrrrditingl.. DLprcLjation ofowncd tsngiblL fixLd assets 438 438 P38¢ 9
FREEDOM POWERCHAIRS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 Trustees None of lh¢ irustets lor anv ttrsons connected iiiih iheml received remunernion or irnelits from ihe chariiv during th¢ y¢ar. 10 Empl(kye¢s The average monihly numkr of emplovtts thjring the s'earM'&S= 2023 Number 2022 Numbtr Taxatio 'I'he Lhariiy Is LILmpi Irom lay on iiicomi and gains falling M'iihin lI1n 505 of ihL 'I8IL% ALI li)88 Dr ciioii 252 of IhL'la¥aiii)n Iil'C'hargiablE Ciain% Aci l()92 10 IhL L¥ILrbi thai arL at>pliLd 10 IL% chaTithblL l)bjLIl%. 12 Tin%ible fixed a55et5 Cost Al l Augu%1 2D22 1.750 Ai 31 lulv 2023 Depretiation and impirmtnl Al l Aiigusl 202? DLprLLldiion Lharged in the Jear 438 438 Ai 31 Jul> 2023 876 CHrrying amount Ai 31 Jul%. 2023 874 Ai 31 JUIN 2022 13 Debtors 2023 2022 Amounts fglling dut within one ytgr: Oiher deor5 6,051 3,208 pag¢ 10
FREEDOM POWERCHAIRS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 14 Loans And ovtrdrAfts 21123 2022 ank loan5 6.402 8.554 Payable within ont b'¢aT Pa)'ablL allLr ortL J¢ar 2.208 4.194 2.153 6.401 15 Crtdittsrt= #mounts f#llin2 dut within tsn¢ >'¢#r 2023 2022 Noies ank li)ans 14 2.208 1.433 1.250 2.153 Accroals and delerfL'd income 4.891 5.7J I 16 Crnditorj: amountj IAlling dut gntr MO thxn ont year 2023 2022 Noles Elunk loan5 14 4.194 17 Unrestricted fundj 'rhc iinrc%triilLd liin(1s ol'ih¢ charil) rompri5¢ ihc unc1tnded balanc¢s ofdon&lions and graiits which arc not suhj¥¢l lo $p¥rilir riinditions bs. donor5 and grantor5 a5 to hom" Ihc%' ma!" U5¢d.'IIKsc includc d¢signa*d lunds M"hi¢h ha¢ k¢ii set a%ide nui ofunresiricied luth(Ls hi. the Iruaee5 for srifiC A¢ l Augusi 202Z Incoming Rt50urces At 31 July 2023 expended GenLral funds 16.5251 49.337 144.1821 11.3701 Previou5 ye#r: At I AllSt 2021 lthroming 50urtts Rt50urce5 At 31 July 2022 expended General funds 11.803 35.183 16.5251 18 Related party trans#¢iions During the )'ear ihere 'aS cash loaned to the chaTID' from Freedom Resource Recoi'er). Lid. 'hich trustees Nlartin Osm¢nt and DaTrid Tri8¢11 are direaors of. Ai Ihe l.ear end. Ireedom Reur¢¢ RecoN¢rn' Ltd ii.ere ow¢d £2.530 from th¢ charity, whirh 15 Includ a5 a cr¢diior in the5¢ a¢counts_ pag¢ 11