Charity number: 1157050 Company number: 08950870
Freedom International NOW Ltd (A company limited by guarantee)
Trustees' report and financial statements
for the year ended 31 March 2023
Freedom International NOW Ltd (A company limited by guarantee)
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' report | 2 |
| Independent examiners' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 - 6 |
| Notes to the financial statements | 7 - 9 |
Freedom International NOW Ltd (A company limited by guarantee)
Legal and administrative information
| Charity number | 1157050 |
|---|---|
| Company registration number | 08950870 |
| Registered office | Unicorn House |
| Station Close | |
| Potters Bar | |
| Hertfordshire | |
| EN6 1TL | |
| Trustees | S Hedley |
| Dr K Hedley | |
| Secretary | S Hedley |
| Accountants | Kleinman Graham |
| 2nd Floor, Unicorn House | |
| Station Close | |
| Potters Bar | |
| Hertfordshire EN6 1TL |
Page 1
Freedom International NOW Ltd
(A company limited by guarantee)
Report of the trustees (incorporating the directors' report) for the year ended 31 March 2023
The trustees present their report and the financial statements for the year ended 31 March 2023. The trustees, who are also directors of Freedom International NOW Ltd for the purposes of company law and who served during the year and up to the date of this report are set out on page 1.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Statement of trustees' responsibilities
The trustees (who are also directors of Freedom International NOW Ltd for the purpose of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
On behalf of the board
................................. S Hedley
Director
5 December 2023
Page 2
Freedom International NOW Ltd
(A company limited by guarantee)
Independent examiner's report to the trustees on the unaudited financial statements of Freedom International NOW Ltd.
I report on the accounts of Freedom International NOW Ltd for the year ended 31 March 2023 set out on pages 2 to 9.
Respective responsibilities of trustees and independent examiner
As the trustees of the company (and also its directors for purpose of company law) you are responsible for the preparation of the financial statements in accordance with the reqirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that an audit is not required for this year under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not compoly with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination ; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recomended Practice for accounting and reporting by charities applicable to charities preparing their accounts with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...........................................................
Jason S Bennett FCA Independent examiner
5 December 2023
Page 3
Freedom International NOW Ltd
(A company limited by guarantee)
Statement of financial activities (incorporating the income and expenditure account)
For the year ended 31 March 2023
| Unrestricted funds Notes £ Incoming resources Incoming resources from generating funds: Voluntary income 2 37,247 Total incoming resources 37,247 Resources expended Charitable activities 3 37,059 Governance costs 5 1,044 Total resources expended 38,103 Net incoming/(outgoing) resources for the year / Net income/(expenditure) for the year ) (856 Total funds brought forward 5,759 Total funds carried forward 4,903 |
2023 Total £ 37,247 37,247 37,059 1,044 38,103 ) (856 5,759 4,903 |
2022 Total £ 51,723 |
|---|---|---|
| 51,723 | ||
| 43,640 2,355 |
||
| 45,995 | ||
| 5,728 31 |
||
| 5,759 |
The notes on pages 7 to 9 form an integral part of these financial statements.
Page 4
Freedom International NOW Ltd
(A company limited by guarantee)
Balance sheet
as at 31 March 2023 Company number: 08950870
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Net assets Funds Unrestricted income funds Total funds |
2023 £ £ 5,863 5,863 ) (960 4,903 4,903 4,903 4,903 |
2022 £ £ 6,719 6,719 ) (960 5,759 5,759 5,759 5,759 |
2022 £ £ 6,719 6,719 ) (960 5,759 5,759 5,759 5,759 |
|---|---|---|---|
| 5,759 | |||
| 5,759 | |||
| 5,759 |
The Balance Sheet continues on the following page.
The notes on pages 7 to 9 form an integral part of these financial statements.
Page 5
Freedom International NOW Ltd
(A company limited by guarantee)
Balance sheet (continued)
Trustees statements required by the Companies Act 2006 for the year ended 31 March 2023
In approving these financial statements as trustees of the company we hereby confirm:
For the year stated above the company was entitled to the exemption conferred by section 477 of the Companies Act 2006 ;
Directors' responsibilities:
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect of accounting records and the preparation of financial statements.
These 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 on 5 December 2023 and signed on its behalf by:
.................................
S Hedley Director
The notes on pages 7 to 9 form an integral part of these financial statements.
Page 6
Freedom International NOW Ltd (A company limited by guarantee)
Notes to financial statements for the year ended 31 March 2023
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Statement of Recomended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
1.2. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
1.3. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.
2. Voluntary income
| Unrestricted funds £ Donations 37,247 37,247 |
2023 Total £ 37,247 37,247 |
2022 Total £ 51,723 |
|---|---|---|
| 51,723 |
Page 7
Freedom International NOW Ltd (A company limited by guarantee)
Notes to financial statements for the year ended 31 March 2023
3. Costs of charitable activities - by fund type
| Unrestricted funds £ Charitable activities 37,059 37,059 |
2023 Total £ 37,059 37,059 |
2022 Total £ 43,640 |
|---|---|---|
| 43,640 |
4. Costs of charitable activities - by activity
| Costs of charitable activities - by activity | |||
|---|---|---|---|
| Activities undertaken directly £ Charitable activities 34,476 34,476 |
Support costs £ 2,583 2,583 |
2023 Total £ 37,059 37,059 |
2022 Total £ 43,640 |
| 43,640 |
5. Governance costs
| Unrestricted funds £ Accountancy fees 864 IT expenses ) (1 Office expenses - Other - Travel expenses 18 Printing, postage and stationery 161 Bank charges 2 1,044 |
2023 Total £ 864 ) (1 - 18 161 2 1,044 |
2022 Total £ 352 1,180 478 240 44 61 |
|---|---|---|
| 2,355 |
6. Employees
Employment costs
No salaries or wages have been paid to employees, including the trustees, during the year.
7. Taxation
The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts.
Page 8
Freedom International NOW Ltd
(A company limited by guarantee)
Notes to financial statements for the year ended 31 March 2023
| 8. | Creditors: amounts falling due | ||
|---|---|---|---|
| within one year | 2023 | 2022 | |
| £ | £ | ||
| Accruals and deferred income | 960 | 960 |
9. Company limited by guarantee
Freedom International NOW Ltd is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
Page 9
Freedom International NOW Ltd
(A company limited by guarantee)
The following pages do not form part of the statutory accounts.
Freedom International NOW Ltd
(A company limited by guarantee)
Detailed statement of financial activities
For the year ended 31 March 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Incoming resources | ||||
| Incoming resources from generating funds: | ||||
| Voluntary income | ||||
| Donations | 37,247 | 51,723 | ||
| 37,247 | 51,723 | |||
| Total incoming resources from generating funds | 37,247 | 51,723 | ||
| Total incoming resources | 37,247 | 51,723 |
Page 11
Freedom International NOW Ltd (A company limited by guarantee)
Detailed statement of financial activities
For the year ended 31 March 2023
| Charitable activities Charitable activities Activities undertaken directly Gifts to the homeless General gifts and grants Support costs Consultancy fees Advertising and marketing Charitable activities total expenditure Total charitable activity expenditure Governance costs Activities undertaken directly Accountancy fees IT expenses Office expenses - Other Support costs Travel expenses Printing, postage and stationery Bank charges Total governance costs Net incoming/(outgoing) resources for the year |
2023 £ 30,351 4,125 34,476 250 2,333 2,583 37,059 37,059 864 ) (1 - 863 18 161 2 181 1,044 ) (856 |
2022 £ 32,158 7,650 39,808 1,527 2,305 3,832 43,640 43,640 352 1,180 478 2,010 240 44 61 345 2,355 5,728 |
2022 £ 32,158 7,650 39,808 1,527 2,305 3,832 43,640 43,640 352 1,180 478 2,010 240 44 61 345 2,355 5,728 |
|---|---|---|---|
| 43,640 | |||
| 43,640 | |||
| 2,010 345 |
|||
| 2,355 | |||
| 5,728 |
Page 12