Charlty number: 1154422 FREEDOM CHURCH ROMSEY UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 202A FREEDOM CHURCH ROMSEY CONTENTS Page Raference and Admlnlstratlvé Delalls of the Charity, its Trustees and Advl8erJ Trustees, Report Indep•nd8nt Examlner's Report Statement of Flnanclal Actlvlt168 9-10 Balance Sheat 12 Notes to the Flnanclal Statements 13-19 FREEDOM CHURCH ROMSEY REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Dr J Hugh&s Mrs A Jon8S Mrs N Maundrell Mr F Nort)ury Mr D Gilpin Mr R lfjrkland Charity raglster8d number 1154422 Principal office Unit 6 Greatbridge Road Buslness Park Romsey Hampshir8 S051 OHA Accountants Kolad8 Andr8wAlli ACMA Th8 ARK Financial Manag8m8nt Consultancy Ltd 10 Gatcombo Gardens W8St End Hampshire S018 3NA Bankers HSBC Bank PIC Pag8 1 FREEDOM CHURCH ROMSEY TRUSTEES. REPORT FOR THEYEARENDED 31 DECEMBER2024 The Trustees present thelr annual report together with the financial statgmants of tha Freedom Church Romsay for the year 1 January 2024 to 31 Dec8mb&r 2024. STRUCTURE, GOVERNANCE AND ORGANISATION Vision and Values". The Vlslon for Freedom Church Is to "lead people In the pursult of Jesus, to Se8 liv&s and communltles transformed" Freedun Church achi8v8s this by cr8ating opportunities for people to Encount8r God, Gather Together, Grow Strong8r and Influ8nc6 Change. Thls is ￿rrentlY done though reaching out to our community with the lova of Chrlst through weekty gatherings, social justice actlvltles (Freedom Centre programme) and small group gatherlngs In the community (Connect. Groups). Charitable Objects: The Charltable Objects of Freedom Church are.. 1. Advan￿ment of Christian faith for the benefft of th8 putsiic by any m8ans whatsoever including (but not by way of limitatlon) the preaching and proclamation of the Christlan Gospel, the teaching of Chrtstian doctrin8 8nd principl8s, pastoral care of those in need, weekly worshlp servlces, publlc celebrations of Chrfstlan F8Stivals and distribution of the Bible and Christian lit8ralure. 2. The rellef of persons who are in conditions of need, povety. hardship or distr8ss or who are sick. elderly or bereft. 3. The advanc8ment of education bas8d on Christian prin(iples and without prejudlce to the generality of the foregoing of the provision of such education in any educational 8Stablishm8nts for the g&n8ral education of thlldren or adults on the basis of such Christian princaples, contrlbuting to both their spiritual and moral d8v81opment. Govemlng doGumenL. The Charity Is controlled by its Goveming Document, a declaration of trust dated 31 October 2013. and constitut8S a Charltable Incorporat8d Organisation. It commenced op8rating as a Charity on 1st January 2014 when it took ovar th8 previous tharity of New Life Church Roms8y (Charity Number. 293591). Organisath'on: The primary rosponsibilty for 8nsuring th8t Fr88dom Church fulfils its mission has been delegated by the Charty Trustees to the Senior Leader, who assumes the role of CEO, The Trustees are not on the Leadershlp Téam, but hold the Senior Leader to account on all legal. govemance, risk management and charitable matters. Th8 Lead8rship Team {form8d of both 8mployed and volunt88r members) is r8spon8ible for the spiritual direction of the Church. The Trust88 Board meet four tlmes a year. The Leadershlp Team meets at least once a month. The Senlor Leader Is responslble for the day to day njnnlng of the Church. Under the oversight for the Trustees and Leadership Team. the day-to-day r8sponsibiliti8s for running much of the church activiti8s and ministries are furth8r d8legated to the Stsff T8am,18d by the S8nior Leader. Page 2 FREEDOM CHURCH ROMSEY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Rlsk Managamont: The Trust88s have responsibility for the manag8ment of risk across the Charlty. Risk is predominately managed through the 8doption of policies which mitigate key risks. The Charity Trustees have Consider￿ the major risks to which the charity is exposed and sallsfied themselves Ihat systems or proc9dur8s are èstabllshed to manage thosa risks. Freedom Church Rcm88y has the following policies established which remain8d in place during the year, expens8S policy, annual leave policy, famlly friendty pollcy, sickness and absence policy, whlstleblowlng pollcy, complalnts pollcy. privacy policy, lone working policy, resolvlng concems at work policy. fixed ass8t policy, saf8guardlng pollcy and a sch8me of delegation. These policie8 are reviewed periodically by th8 Trustee Board. The Truste8 Board Is contlnulng to develop a Risk Management Regist8r to furlh8r 8nh8nc8 th8 managem8nt, mitigation and r8POrtlng of risks. family friendly policy. sickness and absence policy, whlslleblowlng policy, complalnts FX)licy, privacy policy, lone working policy, resolvlng concems at work polw. fixed asset policy. safeguarding policy and a scheme of delegation. Th8s8 polici88 are reviewed periodically by th8 Trust88 Bosrd. Th8 Tru8t8e B08rd is continulng to d8velop 8 Risk Management Plan to further enhance the mar￿geMent, mitigatlon and reporting of risks Public Benefit: The Trustees conslder the Charity Commlsslon guldance on public bonefrt and conslder Ihat the activities of the Charfty meet Its objectives and provide a benefit to the public. ACHIEVEMENTS, PERFORMANCE AND FUTURE DEVELOPMENTS Achlevements and perforniance In 2024: Freedom Church meet In person Sunday momings for worship and teaching and provide a Iiv8Str8am for thos8 that wlsh to access our services in their own homes (young parents, th8 elderly and those who are furih8r away geographically). Connect Groups m8et during the week, both online and in person. In 2024 our prayar and worship ministry included sever81 activities and 8vents including: our Sunday momlng worship times, the youth and thildren's teamsjolned other local churches to stage a Faithfast day in the summer and a children's light party for 31 st October, a 'Lectlo Hour. group that meets monthly on a Monday daytime, and the continuation of 'AII In,, our monthly worship and prayer evenings. The Freedom Centre is used daily, it hous8S the upper room (a filming, small m88ting and rehearsal space), the Church office, Ihe Foodbank warehouse, the welcome space (whlch Is used regularly durlng our opening times) and downstslrs tralnlng space, These spaces are all utllised by our varlous in-hous8 communily projects such as the CAP debt cantre, as well as being used by extemal ag8nci8S such as the Citizen8 Advlc8 and the Youth Employment hub. Pag8 3 FREEDOM CHURCH ROMSEY TRUSTEES. REPORT (CONTINUED) FOR THEYEARENDED 31 DECEMBER2024 The Freedom Centre Programme (formerly known as Fr88dom Matters) Is the soclal action collective of Freedom Church. It continues to meet the needs of the local communty and remains central to tho life and aCtI￿ty of Freedom Church. Increasing energy pric8s, along with splralling food inflation and utility bills for several years, ha8 meant that the demand for help from the Romsey Foodbank and the CAP debt centr8 has remained high. In 2024 we gave out 5500 meals through our foodbank, 23,785 kg of fcKJd. 21,OOOkg of food donations were recelved from schools and churches. Th8 shortfall b8ing purchased vla granÉ funding. We have a team of 60 volunteers across all proJect8. Those volunteers who man the foodbank drc4)-ins are on hand to welcome anyon& visiting the Centre. offering r8freshments and conversation. making sure they also link Into 0th8r appropriate servlces offered at the C8ntre, as well as signposting th8m to other relevant communlty services. At our Wednesday communty lunch throughout thls year the Church has provided lunch, followed by an aft8rnoon of companionship and b08rd games for anyone in our community who wanted to loln us. Freedom Church Earfy Years InteNentlon mentor children in local schools in partnership with TLG, with 4 children being supported in local prfmary schcmjls. The aim of this programme is to Intervene early for thlldren at rlsk of disengagement with school and h8lp walk alongside them, providing a neutral bridge to work through their difficulfles. The charity has provid8d ¢ar8. and sometlmes financlal or other material support, to those in need in Romsey. In addition, through th8 "Freedom Fund", the Church made numerws glfts to workslmissions IAID projects both In the UK and overseas, which Is in ac￿rdanCe with the alms set by trustees and is detailed further in the Financial Review of thls report. The pursuit of thg vision to build a pemanent home for Fr88dom Church and its associatsd activiti8s contlnues. Followlng on from our successful planning application, fundraising has contlnued in 8arn8St so that we are able to start developlng the land as soon as possibl8. Future Dev8lopments: Fra8dom Church Romsey Is looking to continue to 8ngage the local communty in the vislon for building our own mor8 sultable perman8nt pr8mi8es. Fr8edom Church will deliv8r a 8Gh8m8 which Is led by th8 wider community and Is actlV8ly partnering wlth the local council to achteve this, Page 4 FREEDOM CHURCH ROMSEY TRUSTEES, REPORT (CONTINUED) FOR THEYEARENDED 31 DECEMBER2024 FINANCIAL REVIEW Full ac￿)unt8 are shown b8low. The trustees were satisfied with the year4nd position. Income and Donatlons In 2024, total income, including donations, glft ald, payments, grants and interest income. across all projects. was £451 k.Totsl 8XP8nditur8 was £444k Balancè Sh88t and R•8erve8 Policy The Y8ar End Balanc8 Sh@et Shows £209k of Fixed Assets and £464k Cash at bank and In hand. It Is the charity's policy to maintaln sufficlent reserves should any unexpected fall in finance occur. Thls Is calculated as a. figure equivalent to 3 timgs avorage monthly expenditur818ss a month and a half of average incomg. Allocated r8serv8S as at 31 De￿rnber 2024 were £54k, arKI, hence, the reserves ar8 d8&m￿l 8d8quat8. Grant Funding and Government Grants During 2024. Fr8edom Churth Roms8y received grant funding from Th8 Trussell Trust and Test Valley Borough Council and Natlonal Lottery. Invastmont Policy Due to th8 r8lativ8ly short timo b8tW88n the r8ceipt of funds and thair exp8nditure, all funds ar8 h81d in cash. Flxed A888ts Policy During the year the Trust88 Board adopted a Fix8d Asset Policy. Th@ policy states that purd)as8S Over £1,000 will b8 ￿pItali88d if th8y are intended to last longer than 12 months. All depreclatlon Is calculated on a stralght4ine basis. A fixed 8sset reglster is malntalned and present&l to the accountants each year, actlvely partnerlng wlth the local councll to 8chleve this. Paga 5 FREEDOM CHURCH ROMSEY TRUSTEES. REPORT (CONTINUED) FOR THEYEARENDED 31 DECEMBER2024 The Frnedom Fund Freedom Church support8 organisations and individuals (both domestic and foreign) and glfts are consldered by a panel constltutlng a Trustee, a Leadership Team member and one or iwo other memb8rs of th8 congregation who slts on neither the Board iy tho Leadership Team. An application fomi is submitt8d for each gift. The Trustee Board monitor the budget of the Fr88dom Fund throughout the year. Gift5 are awarded based on need whilst ensuring that the charivs objectives are met. There are some recommend￿1 upper limits of support, how8V8r gifts are reviewed and agreed upon by the Freedom Fund Pangl in Iln8 wlth the Freedom Fund Guldanc8 Not8s. subject to budgetary conlrol and ad8qual8 reporting. Prinrypal fundlng sources Regular giving into the charily is 8n(x)urag8d. wilh most funds teing gifted vla Bank Standlng Orders, Dlrect Debits and Card Payments through the Churth Suite Platfomi. Tax reclamatlon using Gift Aid is also encouraged wh8r8 appropriate and St was noted that during the year £42k of tsx was r8claimed. Rlng Fenced Funds The balance of restricted funds has decreased during the year. Th8 majority of restrictad funds aré in th8 Buildin9 Fund, which continues to raise funds in anticipation of creating a pemianent, fit for the future premlses for all the church actlvlties, as well as in the Foodbank, CAP and FreedcHn Matters funds, which have raised significant funds which wlll be used slrateglcally to ensure the medium-term sustainability. viability and growth of these projects. Th8 capital cost of purchasing the land using tha Building Fund has reduced restrlcted funds signlficantly, meaning that the total amount of restrlcted fvnds currently held Is £590k which consists of Buildlng Fund £362k, Foodbank Fund £155k, and Freedom Matters £87k. Volunteers There are currently over 150 regular voluntaers involved in th8 lif8 of th8 organisation. Pag8 6 FREEDOM CHURCH ROMSEY TRUSTEES. REPORT (CONTINUED) FOR THEYEARENDED 31 DECEMBER2024 a. Going concem After making appropriate enqulrles, the Trustees have 8 reasonable expectation that tho Charity has adÉquata rasources to continue In operational existen￿ for the foreseeable future. For this r8ason, th8y continue to adopt the going conc8m basis in preparing the financial statements. Further detalls regarding the adoption of the going concern basls can be ft)und In the 8c¢ountlng pollcles. Structur0> gov8rnanco and management a. Constltutlon Freedom Church Romsey Is a rogistered charity, number 1154422, and Is constittjted under a Trust dged. b. Melhods of appoinlment or election of Trusteos The manag8m8nt of the Charity is th8 responsibility of th8 Tru8tee8 who are elected and cowopt￿ und8r th8 terms of the Trust deed. statement of Trusteos, rospon8ibiliti08 The Trustees a￿ responsible for preparing the Trustees, Report and the flnanclal statements in accordanGe with applicable law and United Kingdom Accounting Standards (United Kingdom G8n8r811y Acc8Pt8d Accounting Pradice). The law applicable to charities in England & Wal8s r8quir88 th8 Trustees to prepar8 financial stst8ments for 88ch financial year which give a tru8 and fair view of the state of affalrs of the Charily and of its incoming resources and application of resources, including its income and expendlture, for that period. In preparing these financial statements. the Trusteas are required to: select sultable accounting polldes and then applythem consistenty: observe the methods and principles of the Chaiities SORP (FRS 1021. mak8 judgments and accounting 8Stimates that are re8son8bl8 2nd prud8nL stste ￿ether applicable UK Accountlng Standards (FRS 102) hav8 b88n followed, Subject to any mat8rial departur88 disclosed and explain8d in th8 financial statements-, prepare tho financial statements on the going concern basls unless It Is Inapproprlat8 to presuma that the Charity will continue in business. The Trustees ar8 r8sponsible for keeping ad8quats accounting records that are sufflclent to show and explain th8 Charitvs transactlons and dlsclose with reasonable 8ccuracy at any tlme the financial posltlon of the Charfty and enable them to ensure that the finandal statements comply vrfith the Charities Act 2011, the Charty (Accounts and Rèports) Regulathjns 2008 and tha provisiong of the Trust dead. They ar8 also r8sponsib18 for safeguarding th8 assets of the Charity and h8nc8 for taking reasonable sleps for the prevention and detection of fraud and other irregularilies. Page 7 FREEDOM CHURCH ROMSEY TRUSTEES. REPORT (CONTINUED) FOR THEYEAR ENDED 31 DECEMBER2024 Approved by order of the members of thg board of Trust888 on 5 Saptember 2025 and sign8d on their b8half by: Robert Nèll Klrf(land Pag8 8 FREEDOM CHURCH ROMSEY INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examlnevs R8POrt lo the Trusteos of Froodom Church Romsey Cthe Charity) I r&port to tha charity Trustees on my examination of the accounts of thg Charity for the y8ar 8nd8d 31 December 2024. Re$ponslbilltles and Basls of Raport As the Trustees of the Charlty you are responslble for the preparatlon of the accounts in accordanc8 With th8 requirements of th8 Charities Act 21111 ('Ih8 2011 Act,). I report In respect of my examlnation of the Charltws accounts cartled out under section 145 of the 2011 Act and in carrying out my 8xamination I havg follow￿1 th8 applicabl8 Dir8Ctions giv8n by the Charity Commission under S8Ction 145(5)(b) of the 2011 Act. Independont Examinorfs Stat8ment Slnce the Charitvs gross Income exceeded £250,000 your examlner must be a member of a body listed in section 145 of th8 2011 Act. I confirm that l am qualified to und8rtak8 th8 8xamination beLXU8818m 8 m8mbar of Ch8rt8r8d Institute of Managem8nt Accountants UK, which is one of the listed bodies. Your attention is drawn to th8 fact that the Charity has pr8par8d th8 accounts in accordanc8 With Ac(xunting and R8porting by Charities: Statement of Recommended practi￿ applicable to charities preparfng thelr accounts In accordance with the Financial Reporting Standard applicable in the UK and RepubliG of Ireland (FRS 102) In preference to th8 Accounting and Reporting by Chariti8s: Stat8m8nt of R8comm8nd8d Practice i88ued on 1 April 2005 whith is r8f8rr8d to in th8 extant r8gulations but has been withdrawn. l understsnd that this has been done in order for the accounts to provide a true and fair view in accordanc8 with the Gen8r8lly Acc8pt8d Accounting Practic8 8ff8CtiV8 for r8POrting peric(Is beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in Gonn8Ction with th8 examination giving m8 C8US8 to beliave that in any mat8rial r8SP8Ct: accountlng r8conds were not képt in r8SP8Ct oftha Charty as requlrad by section 130 of the 2011 Act. or the accounts do not a¢¢ord with Iho88 reo)rd8,' the accounts do not comply wlth the appltcable requirements concerning the form and cont8nt of accounts set out in the Charities (Accounts and Reports) Regulations 2008 0th8r than any r8quir6ment that the accounts give a Irue and falrf vlew whlch Is not a matter consldered as part of an independent examlnafjon. I have no COn￿rn3 and have come across no other matter8 in connection with the examlnatlon to whlch attentlon should be drawn in thls report In order to enable a proper understandlng of the accounts to b8 ré8ch8d. This rewt is made solely to lh8 Charitys Trustees, as a body, in accordance wfth Part 4 of the Charities (Accounts and Reporls) Regulations 2008. My work has been undertaken so that I might stste to the Charftvs Trustees those matters l am required to state to them in an IndgP8ndent Examinerfs Report and for no other purpos8. To th8 fullest extent pemiitt8d by law, I do not accept or a88ume responsibilty to anyon8 Other than th8 Charity and the Charlty's Trustees as a body, for my work or for thls report. Page g FREEDOM CHURCH ROMSEY INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Sign8d: Dated: 5 September 2025 Kolade Andrew Alli ACIIA Tha ARK Financlal Manag8m8nt Consultancy Ltd 10 Galcombe Gardans West End Hampshire S018 3NA Pag8 10 FREEDOM CHURCH ROMSEY STATEMENT OF FINANCIAL ACTivrriES FOR THEYEARENDED 31 DECEMBER2024 Unrostrlcted Restrlcted funds 2024 Total funds 2024 Total nds 2023 2024 Nots Income from: Donations and18gaci8S 320,446 130N92 450,938 449,455 Total Income 320,446 130,492 450,938 449,455 Expendlture on: Charitable actlvltles 335,566 108.587 444,153 466,027 Total oxpenditure 335,566 108,587 444,153 466.027 Not movement In funds (15,120) 21M05 6,785 (16.572) Reconclllation of funds: Total funds brought forwaKI Net movement in fvnds 95,390 (15,120) 567,983 21,905 663,373 6,785 679,945 (16,572) Tolal funds carried forward 80,270 589,888 670,158 663,373 Tha Stst8m8nt of Financial Activitles includes 811 gains and Ioss8s r8cognis8d in th8 y8ar. The notes on pages 13 to 19 form part of these flnanclal statements. Page11 FREEDOM CHURCH ROMSEY BALANCE SHEEr ASAT31 DECEMBER2024 2024 2023 Fixed assets Tanglbla 288ets 208,593 204, 055 208,593 204, 055 Curnnl assets Debtors Cash at bank and in hand 471 460,047 463.568 463.568 460,518 Creditor5: amounts falling duewithin one yoar (2,003) (1,200) Net current assats 461,565 459,318 Total ass8t81888 current liabilities 670,158 663,373 Not assets excludlng penslon asset 670,158 663,373 Total net assets 670,158 663,373 Charityfunds Restrlcted funds Unre8trlcted funds 10 10 589,888 80,270 567,983 95,390 Total funds 670,15 663,373 The financlal statements were approved and authorlsed for Issue by the Trustees on 05 S8pt8mber 2025 and slgned on their behalf by: Robert Nell Klrkland The notes on pages 13 to 19 fcKm part of th&8e financial statements. Pag812 FREEDOM CHURCH ROMSEY NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER2024 Accounting policles 1.1 Basis of preparation of finandal statements The financial stataments hav8 been prepared In accordance with th8 Charities SORP (FRS 102) Accounting and Reportlng by Charitles: Statement of Recommended Practice appllcable to charlties preparing their accounts In accordance wlth the Flnancial Reporting Standard applicable in the UK and R8publiG of Ireland (FRS 102) {effectiV8 1 January 2019}, the Financial Reporting Standard appli1￿ble in th8 UK and Republic of Ireland