REGISTERED CHARITY NUMBER.. 1161926 TRUSTEES, REPORT AND CONSOLIDATED FIP4AP4CIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FOR FREEDOM CHURCH HEREFORD CIO Incor orati Wildfire Hcrtford Limitcd FREEDOM Moore Chartered Accountants and sta￿tOry Auditor 30 Gay Sireet Bath BAI 2PA ## **FREEDOM CHURCH HEREFORD CIO** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ||Page| |---|---| |Trustees' Report|1 to 9| |Statement of Trustees Responsibilities|10| |Report of te Independent Auditors|11 to 13| |Consolidated Statement of Finacial Activities|14| |Consolidated and Charity Balace Sheet|15| |Consolidated Cash Flow Statement|16| |Notes to the Cash Flow Statement|17| |Notes to the Finacial Statements|18 to 36| FREEDO￿1 CHIIRCH HEREFORDCIO 'I'RIIS'I'EES' KEPORJ. I,-OK'I'Hb l E,IR ENDED JI M.4KC.'H 2022 The Iruslees are pledsed lu present their ￿nuaL rewrt together ii'iih Ihe cviisulidaled finanLial slalenienls vf the Lharili its subsidiaTh' for the Near ending .?1 March 20?2. Th¢ tinancial stat¢iii¢nts coinpli. ￿1th th¢ C'hgrities Act 20?2 and the charili¢s Staicmcni of RcwmmLndLd PraLliLc lapplicablc 10 LharillLs pfLyaring Ihcir a￿OuntS in i?CCL)rdancL wilh IhL Financial Rcrorting Standard applicable in the IJK Ilepublic of Ireland.. Tr'RS 1021 etyeclive l J￿luary 2019. OILJF.CTII-F.S ACTII'ITIF.S Obje¢tives and aims Ibe care objectiTres Df b'reedoin Church HerefoTd CIO (Trreedom Churchl are £umm3rised follows.. l. Tht advanc£ment ot. tht Chrisiian religion mainlj. but noi ¢xclusivelN bv means ot.: broadcasting Christian messages ot. an evangelisiiL and ILwLhing lure, hulding tneelings.- p￿￿￿Ling ur dislribuling lilgraiure dtM)ul Chiislianilj. 2. Th¢ pr¢v¢ntion or rtlief of roi'erLV or f1nancial hardship an>'whert in ihe world bj providing or assisting ihrough all the n¢eessary supporl Iv help individuals be self-suftiLieiil. Tu in life help VLTrun¥ peLTrple IhrLiiigh dLliN'ilies. Iraiiiing and SLlPWrt. 4. The relief of per5uiis i%'ho in cuiidilions vf iieed. hardship or distress. or are aged or sick. ()ur missian stat¢ill¢nt. Ivhich captur¢s the ¢ss¢nc¢ af these aiill% is'conn¢cting gnvon¢ anTri¥htr¢ to a liffrchanging r¢lationship with j￿U8,. Our main long w'rm objcctlvL￿ arc io.. grow oiir CLirrenl churches 2. hegin neiv cliur¢li¢s. deTrelaping and d1￿er.￿ltyin8 our approach slrategiullv de￿¢10p our staff and volunlt¢r ttwlls 10.4upporl gromih increase digital ministri¢s and broadcast capabilities. and increase engag¢m¢nt increase tinancial srabilirni arid strengthtn tinaiicial plallning Our aciiviiits in ihe previous financial l'ear M'ert signifieanil! shap¢d bN Iht Covid-19 pand¢inic. As rtstrieiions ￿'¢re full>. lifttd durin¥ the }'edr. we dble lu return lu mLTrre nuniidl LTrperatiuns. The miijLTrr fvLus Lif the 2021-22 vedr Iv niivigdte the reLovery and r¢shaping ot our organi5ation lollowing tli¢ p3nd¢inic. Our 2020-21 r¥FK)rt higlilighi¥d a nlirnbgr ofpvsilive Irgndg Ihai wg obs¥rigd IhrLTrughoul th¥ inLrediblN' slrelLhing lim¥ ofihe pandeillic. The4e incliid¢d tinancial sustain3hililJ. incr￿Sed charitabl¢ dnnatians to support penple affected b). Covid-lg. organisaiional flexibility 10 adapL and siaffli'oluni¢er healih and suppori. 11.'t ￿tre incredibli. grditlLJI 10 iom¢ throiigh thai Jtar ell. liave sought lo Luntinue thLTrSe trend5 thruugh 2021-22. We eontinu¢ to foster strong relationships iviih Church￿ around Iht world. During ihe reporting p¢riod were mainiaining close link&. with 5151er chui"Lh Lommiinilies in EiiTh)pe. Nurih AmeriL(i East AfriLa. Suuili Afric& India and Catnbodia. Il'e benefit greatl trom thest close partnerships. and otler help in a i'ari¢ty' ot'wa}'s. ￿h¢re beneticial. FREEDOfvI CIII,"RCII IlbRbTrORD CIO TRIISTEES, REPORT FOR THE YEAR ENDED 31 fiqARI.'H 2022 Freedom Church relie5 heavily on the contribution of volunteers. Volunteers are involved in almost every aspect of the running of Freedom Church and the delivery of our service5. Other events and programtnes. At least half of all church member5 volunteer at our events, or to support our staff team, and we are very urateful for their time. passiOt], and skills. Core to our approach as a CIO is the objective of gellerating a public benefit. We continue to do this in all of the areas of our activity. The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefjt guidallce published by the Charity Commission for England and Wales. The CIO complies with the Code of Fundraising Practice. It does not engage the services of professional fundraiseTS or commercial participators, and it has not received any complaints relating to fulldraisillg. The objective of our wholly-own¢d tTading subsidiaT)', Wildfire IHerefoTdl Limited. 15 to gen¢rate the tnajority ofthe CIO'S non- donation incorne (see Financial Review below). The incorne from this subsidiary is then u5¢d to support the CIO in fulfilling its own objectives and aiin5. FREEDOM C'HIIRC'H HF.RF.FORD C'JO TRIISTEES, REPORT FOR TIIE I"EAR ENDED 31 TrqARCII 2022 .4CHIEVEMEliT AND PERFoR￿lANcE Liinited restriitions were still in place acro.%s England 2nd Wales durirtg the first Six Inonths ofthe 2021-22 finaniial year. and continlled to observe broadia%tinB %kill% ofour %'olJntr¢rs Our central ¥iaffitam did a hrilliant Joh pushirtg fon4'ard itt this area ihroughout 21121 *? di1)ir¢￿i In dillcrLmt lotyalion5. un IvaTn ¢apdLiii and l(JLalivn siz¢. Suini I￿all￿n5 hai'v Tun nicdia wvrkbhups. Iraining pivplv in particiilar higlilight 111 Ilereford ￿aS our first Christsnas muS1ial production Iii Deceinber 2021 These eveiits aiid progrwns lia￿e been hugel> SUCCeSslul p(61-pandemiG, tullilling our aiin to increase digital niinislries and broadca51 c3pabililies, and increase engagenKnl. Thi binivr liadLTrhip liam w inburL thai tLaihing cvntcnl flcxiblL apprvpriaW- Iv th¢ uni4u¢ nLLds uf IhL pvbt- pandemic period Throu￿()ut 2Q21-?l ￿'e rt4umed 4erie4 teaching. rather than the ￿tek.1&-￿tt￿' pandemic content This was very sue£e%%ful artd 'elcoine return across locations We de￿ided to Inoi'e the tiining of our annual conference to June. rather ihaii Ma}.. Iii order to be able lo ruli il difterentl) to the broddcabl-onlyevenl ot-?020. Due lo the cvntinued re51riilion5 th15 event ran over two locJlion5 In Heretiird Ibroadca51 and 5alellilel and onlint. 11 i%*$ a hug¢ SU¢L¢SS and again serv¢d tsur obJ¢¥liNts well. As WVLY¢J In IhL p￿￿lUv5 r¢pvri. WL b¢¥an an Iniliaiiv¢ LallLd Fircbtarter In Aulumn 2020. Thc airn vfFirLsiarwr Is iv ¢tnpv￿¢r p¢opl¢ Iv ￿'giN a churih or tnini%tTr in their It)cal arta. Thrc>iighollt 2n21_22 ￿'t have invested heaNIl!i In thiq area. including Ini￿381ngI￿e ￿'()rki118 h(Jur£ £taff teain ￿110 oiersee this project and our iiiedia resoiirce to support it We have also launched an ollliiie academy foi our fireslarters to train ￿ld equip thcm. Thi Fir51 ycar 20 parti¢ipanlb ¥alhLring ￿¢¢kI}. Onli￿£. Throughout 2021-22. grom'ing our Gurrent cliurclies lia5 been a high prioiit).. The church in Herefsjrd Is our tirsl and largest location 11 ha5 thrived oveT lh¢ y¢8r4. bul has also born¢ lh¢ w¢ighl ofour LhurLh planiing iniiiaiiv¢s. boih fin2n¢ially and Ihrtsugh r¢le&sing ptople ID moi'¢ and Invesi in Olh¢r parLS of the IJK and across the world In Hereford V¥e liave uiidertak-eii a second phase of renovations at our meeting ienue In tlie centre of the cili, The space Is no￿ eveii beller set lip lo seTre the local Gotnmuniry. particularly young people. and the Saltil'inds iisioii The renovations have l¢)r ¥[(Tr￿'th In an(1 hav¢ InLriasu In thi nUn]￿-[01'pv￿pIU attL￿dIn¥. FrvLdoni HLfLfuTd's 5un(lay alliDdanLy is n(Jw higher than at arty nther p(Jint Itl its histors, Irt 111(Jfie%trr. the planting Lampu% p&%ior% had str￿ed faithfull) f(Jr ge%'en yearq. building the fthundati(Jn% (Jf them trom this re5wnsibility'alld bring in ne￿ pablors fvr the next sea5011. The proces5 1Tr1-Iransilion went Iniredibly well and the departing and itt¥oming pasiots hav¢ mainiaintd a h¢alih)' ￿OrkIng and personal r¢laiionship '] he ¢hang¢ in l¢Adttship h&5 brouohi a frtsh dirtviion 10 th¢ lo¢aiion aiid has beeii V¥holly successfiil. for which we are very gratefvl In Cheltellham changed venue to iiicrease engagemeiit aiid ffjcilitste a differeiit approach io our galliering5 there. Tliroughout 2021-2? the senior leadership team assessed the strateEic approach In a number of different areas and made adjustments ￿there necessary. As part of th15 review it i%as decided Iliat the residential academy ￿OllId iiol run In Septelliber 2022. Tlie paiidelliic led to reduced applications In 2021- 22. and IimilLJ Ini¢f¢51 Ivr IhL fullvwing Irar. Aft¢r 13 y¢at5 vfrunning th¢ program. w¢ iak-lng Ih15 yLar li) r¢ficbh lh¢ ionicnl. r¢mark¢% Ihc pmgrani relaunch in September 2023. the approdch and InTrestllie￿t level In this area In the lears prior We rheretore reshdpvd Zeal. our niinislTr for high 5Lhool aged young people. In In051 track In tliis area and plaii to gro￿, this ministrs. We also launclied a nev¥ illinistr>' called Tlie Tribe for 18-2) vear olds It has been very. successful As Covid re51riGlion5 Mrre lifted. we Brre able lo start initiatives that were not possible durins the paTrdemiG. Incliidins events called Dauntless Iror women) artd'l-h¢ Hord¢ (for mtnl 'l-h¢se ¢v¢nis were has¢d on a similar lormai ora i%¢ek¢nd ai%ay ￿1th i¢a¢hing. ￿or$hI￿ and a¢iii'ili¢s '1-he Horde twk place in September 2021. follov¥ed bs Dauiitless in June 2022 Both events are now a regular part ofthe church calendar FREEDOM CHURCH HEREFORD CIO TRUSTIES, REPORT FOR THE YEAR ENDED 31 MARCH 2022 Freedom Heroes is a minisiry esiablished by Freedom Church that reseirles children living on the streets of Kampala, Uganda. In recent years. all of the practical care (eg education and social work) has been provided by or through Abaana Ministries in Ugai)da, supported in part by Freedom Church. In light of the establishment of Onexone Funds. tl)e decision was taken to pas5 thi5 projeLt to the nem charity. Freedom Church LOTltinue5 to promote thi5 ministry and see mtsney iaised for Onexone Fund5. Today these funds are helpin¥ to educate 17 boy5 and youngF men in UgFanda. Since its inception, Freedom Heroe5 has cared for. educated and resettled back into faniilies dozens of childreii in Uganda. ThrouuFI) Freedom Heroe5 M'e have also helped fund practical Ininistry to hut]dreds of other children living on the streets of Kampala, through the street school and street church projects. The 2020-21 report nientioi)ed oiir intention to record a new music albuni during the period covered by this report. This was initiall), scheduled for Feb￿ary 202? but it was decided that we should Inove the recording to Septeniber 2022 due to the production process taking longer thaii ¢xp¢cted. FINANCIAL REVIEW Going concern Based on current forecasts, we are confident that the CIO is a going concem. However, we recogiiise the Challenging condition5 in the UK econoTny Thhich are represented in tlie cost-of-liviiig crisis. The CIO ha5 seen donatioiis drop as the C05t of living has increased. The charity has sought to protect surplus in past financial years, in part to protect against any drop in income and to cushion in the event of economic challeiige5. Budgets aiid spending will be governed by economic rcalities and M'e will continue to encoura2e contributions to the chariry from our membcrs. The main sources of funding for Freedom Church are donations and, io a lesser exient, trading activities. In the 2021-22 financial year, donation income was £833,923, which is an increase of almost £74,000 on the previous year. Thi5 is particularly encouraging, as just over £1 00,000 of the previous year s donation income NTras for our Covid-19 support fund. Donaiions to our general fund toialled £772:965, which is an increase of £133,526 on th¢ previous year. FREEDOM CHLIRCH HEREFORD CIO TRUSTEES, REPORT FOR THE I'EAR ENDED 31 ￿lARCH 21)22 On rhe adN'ict of our aLcoiiniani, Freedom Chiireh wniinllts to run a irading subsidiarl for the majorii}' of lis non-donaiion income generating activiti¢s. Ihe CIO owns and reiits propertN' tliat can be It￿¢d or rented to others. and th¢5¢ trading activili¢s provide a valuablL sourLi of inLomc. .4s a whollN'.ownLd Irdding SLibsidiati'. WildfirL (Hcrcfordl Limiicd will coniinuL 10 donaiL all of its profiis to Freedom Church Hereford in the torin ot'dividends. During this reporting period. total dividends paid totalled £35.722. Exp-ndiiiirc on faciliiiLs rosc significanilj Ihis i'Lar from £321.556 10 £419.305. This incrcasL is pfL￿Ominan[1N dul 10 thc sccond phasL" refurbisliment of our Htrcford vellue on Coillillercial Road. Ilood repair and remediatioll ￿.orkS to th¢ I￿¢St I4'ing of The Forge and the During the 2021-22 financial }'¢ar, ￿..OrkS w¢r¢ carried out at The forge to repair damage caused b} a flwd in FebruaTh 2020 and tniligate the irnPaLI É)l-future fli)i)d evenl%. Thi4 L()tnplex pn)jeLI Lxiinhiiied in%uraiiLY-funded ￿in￿tatement and ￿)rri?￿ln¥-fllnded addiiional 14.orks. which cobt £167.709 during ihe vtar, w'iih an addititsiial £41.412 speni in Ihe wsi balance shtet period 10 bring the project to coillpletion. I'h¢ tolal proj¢¢l cost been £243.i42. and £81.929 has so tar b¢en r¢covertd througii insuranc¢. £50.012 of Ihai bLing rcciivcd in Ihi 2021-22 financial NLar. Il'-L aniieipatL that IhL final insuranLc SiiilLmcni will k. in thL rcgion of £1 10,000. Our t￿0 e%istillg NatllI¢51 loaiis i4'¢r¢ consolidated in MaTr 20? I, and ali additional £124.OUO ha5 b¢eii 5¢cur¢d to tinallc£ the illajorit}' of the Lhiirch'% %hare ufihe projeci cusls. whiLh so far been funded bi La%h reserves. Tht church in Heretord look on Iht Itase of an old cinema and nighi club in ihe city centre in 2014. During the 2021-22 tinancial vear, Ilial le&%e expired an(1 the building was put up for %al¢. W¢ have betn expliii-ing the possibilitTr of con501idatiiig our phvsical pre5¢nc¢ in Hirlford ai our oihwr location, Thc ForgL, Ivhieh wc own. h0￿c￿er Covid-19 limiiLd our abiliis 10 progrLss that projcci. WL al recognise th¢ benefit of a city centre location for our Sunda), gath¢ring5. The decision wa5 mad¢ to negotiate a Ita5¢ ￿1th tlie new O￿ller 10 ￿ke Ihe mosl of uiir investmeni in the propert} and seLure Ihe Lily Lenire Iocaiion. As part of Ihe negoiiaiions. we agreed 10 carry OLJt 14.ork lo improve ilie biiilding. and 14-.e have also r¢novated the entraiice and hosting spaces to lacilitatt ne￿. visioii iii Heretord. £44. IR5 i¥a% %￿nt ()n thi% wi)rk diirin¥ Ilie repiirling peri(Id. Tlii% finanLed by di)nalic)114 giTren 4pecifiLally f()[ thi4 pu4)o8e. ioialling £22,934, and ihroiigh a reni reduction agreed ￿'1th the new. landlord. Ill Carditl.. we have been aware ot'oiir landlord's intention to redevelop Iht site tor some time. Il'e had be£n able to extend our lease to the end lif Decernher 2022. N%'hiLh enJhled u% tti M￿l￿1￿e ()ur inTre4linent iii Ilie ￿p￿e. hul ni) turther exlen4iiin i.% p()44ible. Fri)ni January 2023, Ihe church in Cardiff M".ill meet in a hired space while more ptrmaneni arrangemtnts art considered. Ihe Covid-19 paiideinic pres¢nt¢d opportunity, to as%¢55 th¢ use of our church building in Ilirtniiighaiii. Ilaving tr￿15]tIoned th¢ chiirLh in Birmingham 10 ihc FircsianLr modLI, dccidLd not io rLnc%41 ihL ILasc in March 2022. Prior 10 Ihc Lnd of Ihc Icasi, N¥C agT¢ed to sublet th¢ space to another church in Birminghatn to offset our costs. Due to ternwraril} redLJCtd residential acadein}' applications in Herelord, i4'e habe sought to rent rooins ai Tht Forge to non-acadein lenJnt% in (irder l() ￿1￿1￿1￿ rental inLI)me. wliich 1% refleLled in the inve4tnient IllLI)tne rents reLeived fi¥ure i)f £24,340 Iprevii)u%l)' £9.2901. Il't also aprN)inred a pan-iime facilirn manager in Novttnbtr 202111."ho has been rasked i%'iih maximising incomt froin the site, li¢th¢r that b¢ through rental of wrns and offic¢s, or hire of eTrent spaces. Ihe east M'iiig ot-l-li¢ F'orge has been identified a5 an option ror Airbnb in thL shori Icmi. whiLh should gcnLfaiL a highcr financial rLliim Ihan Iradilional rLsidLniial accotnmodaiion and providi a simpler exit ￿hen the site is returned to Iht purpose of academy in Sept¢inkr 2023. The Airbnb rooms M'ill be available from Januar), 2023. ExpKnd1ture on oiir Inedia and Firestart¢r departm¢llts increased bN £25.470 and £22,630 r¢stKctiv¢lTr. Both ot'lh¢se iiicreasts 14.-ere due l() Ilie rdpid ¥rDi%'ih (If Fire%larter. i%'iih addili()lldl %laff and Ll)ntraLlI)r re4uufLe4 reqiiired fi)r ihe pr()duLliciii i)f L()nlenL ￿]d the allocaiion ot'txisiing staft'hours to ovtrsee our Firestarier ministry. FREELK)M I.'HIIRC'.H HEREFORD C.IQ TRIISTF.F.S' RF.PORT FOR THF. I'F.AR F.NDF.D 31 NfARCH 2a22 Thc SdluL nfthL Cln'% InvcstmcnL In McnLnrCJrnup Ltd. ishiLh 1% an unlistcd cnmpany, ha% bEcn agrLLd a4 thc %alc valuc %hdrcs that (￿cUtrCd during April 2023 Thc Clo's Qthcr rnAII InvL¥unL*iS havL been Sold in Ihe pobi b&lanLC sheei PLYiud The itU51eE3 applv the fund5 ofFr¢edom Churcli H¢r¢ford at rlieirdl5¢￿tiQn and In a¢¢Trrdan¢e wilh Llie rhanN2ble purp05¢5 and obJertlV¢5 Qfthe CIO Total Spending cliariiable activitie4 £1.069,630 Oui grdnL-making policv outline% giant% ma) be mude and the prioritie% for %upport The LurrenL piioriti&& fnrfundin¥ ale theadvancementofthe chii4lidn fdilh Th'iihin Ivi&l LommunitlL% aLru%% IhL ￿orld. ¥nd thL ILlILfvfpovLrty wilhin IuLal LommunitlL% dnd arniin¥ thL wiirld% dLyri1.￿ ¥nd pLoplLS. RLLipILnts or grani lunding itt this linancial yeai Nsere chufihes In R&lei#h IUSAI. Cape T0￿rt (Soulh AlriCa}. Kampala IUgattd&l and Asia The LOtsI amouni gianied ￿a% £19.636. Rtservt* Policy Ihe trusttts of FKeedom Church Hereford recognise the Impottsnce ofa reserves p)Iicyto demonstrdte go(4151eivArdship and financial managemertt Our p)Iicy Is to rerain reserves m¢an5 ihatth¢ final fi¢e ￿%¢[v¢s are £53.112 FRF.F.DnM C'HIIRC'H HF.RF.FORD C.'IO TRI"STEES' REPORT FOR TIII I'E,IR ENDED 31 P+lARCI12022 FIITURE PL4￿5 The CIO remaiii£ roc￿￿ed on developing ollr core acti￿111e$ ￿hleh %trengthen.£piritual iwell.being. build caring and 8upportive LvmTnuniliis. advanLL th¢ Chriblian faiih and dLILlvp ILadLTyhip rnilliblry skill¥. IVI M'ill also ivnlinuL Iv naNigalL th¢ impaLt of-llie curreiit cost ot-living ciisis on our orgaiiisation There liave been no other sigiiilicaiil eveiits In the post balance sheet p￿riod. STRIICTIIRF.. GOIIF.RN4NI'F. AND MAliAGF.MF.liT GoTr¢rtsitt* do¢um¢rtl Freedom Churcli Hereford, a Charitable IncorpoTaled Oiganisaiion ICIOI. is the registered vehicle for the inovenient ot'churclies knoiwn freedom Chllrih On l Jul￿ 2015. Freedom Church transferred its operations from the Ireedoni Cliurih Hereford C.'hariuxblc I'rusi 110084591 lo th¢ Frcrdi)tn Churih H¥￿1{)[d CIO 111619261. .1 hL LIO ha5 udoplLd a fvundaiivn mvJ¢l conslilulion. TIIIS 15 Ilie seventh aiinual ieport ot-the CIO Trustees of Freedom Church Heielord are reciiiiled and appointed froin ithin the oryanisations membership. '1li¢ bvard vf ItuslLLS Is IvGusb¢d Lmsuiin¥ that Churih tnLLts its. aim5 in an apprvprialL. liwl aL¢vunlabl¢ TnannLI, and to this end the trustees provide governance oversiglit to tlie churclis directional leadership teain and directors. ￿'hO In liiin 'Drk M'ith leader8 (Jur liKatiOllS and dq)artmenL% M meet nur ohjeciiveq Tru%tee% are reiruited fri)m the churih'% i¢nibLfbhip fvr an initial wrrn of Lhrw NLarb bi a ￿￿￿1￿11￿￿ passLd ut a prvp¢Tly niLLlin¥T vf Ili¢ Lharil}' IrusW'LS. 1 effectii'e 2dminiqtr2tion of the CIO All ne￿. tru%tee% are pn)Trided i¥ith the Chariti. Comtni%qion'% guidance on the dutie% i)f a truslL¢. and IhL LIO hus ￿ll￿tlY advptL'd thi iruslLL ri¢ruitinLmL PDJW5S bLr vul in IIiL'I-rubtw- KL¢fuiLTn¢TI CYGIL frvTn A large nU￿bE[ olihe deci5i0llS Telaling to the CIO are made b). the diteclional leadeTship leaTn and direLlor5, bul are subject lo the accountability. approval and ol'ersl￿t of the knard of tsustees. The board oltrustees Inakes all decisioiis relating to remlltt¢rati(>n of ollr qtaff team and have krt¢hm2rk¢d qalari¢$ against ¢qUivAlertt r(yl¢s In other s¢¥torq At pre%etti. Ihe CIO i. M'vrking lo ImpleTn¥lll a pay Iiicrease proposal fvr all staff put fvTh4'ard by the Irubt¥e5 in 2U15 Ilial was not possibl£ al the lime due to fiiianiial constraints. This plan is designed to see pa). iiicrease to tlie level proposed by the t￿Stee5 b}. April ?024. taking Into gc¥nunt Inflation. although It 1% qllbJ¢il t(J rei'i¢w ever¥ litar We anti¢ipate that ￿'t may rtot b¢ able to make th¢ full In¢reA%e in Apnl 202D due lo recent incTeases in the Tale of inllation. Wh11¢ mArt!i risks are carefully managed, lh¢ trustees re¢()gnise lh¢ tteed for 2 ¢ompr¢h¢nsiV¢ ri%k mattagement %ir2t¢gJ lrt Sepleinber 2021. ha￿1￿8 sliidied the Chdrilv Loinmi5sion s giiidance, with Ilie help of rebources from st￿1￿[dshIp. the t￿ls¢eeS greed that the CIO'S risk- illaiiageineiit polic) should be updated. and a detailed risk register should be prepared tor aniiual revie1¥ This risk r¢giqter iq intended to summar1%¢ ¥urrent krtow'n and mattaged risks. and r¢v¢al areas that require Additi(JnAI att¢ntiort. Tlie proJeLI is ongoing. and the truslewi anlicipale IhaL the full ribk register. rew[di￿¥ ￿tsid11a1 risk, aclivn5. (￿￿¥[5 and timeframes. M'ill be ready iii the first half of 2023 Financial %llqtsirtabilit) 1£ a key risk. particularl) itt light of redllLed rent21 ineome at The forge 2nd am'aretteqs of the potential and we continue to review Incoine aiid exp￿ndItUre ￿'1th budget holders on a regular basis We iontinued our lil￿eStment In safegllardine a8 pli￿￿1Cal gatherings re.£umed follo￿,ing the easin£of lockdo￿11 re8triitions. Our am has ￿￿r￿-t0 ￿'1th a professional or8aniyaiion 10 ¢omplei¢ an exien%1￿¢ re￿7¢￿ ofvur saf¢8uarJing ptsliii¢5. pro¢edur¢5 and aining. We liaie soU￿t lo Increase Ilie protile of saleBuardiiig across our location5, and as a re51111 haie seen an Increased nllinber of referrals. most of which i¥ere related to external events Hetruitment #nd *ppvi￿IMtll¢ of new tru$tet$ Trusites ar¢ r¢¢ruiitd from lh¢ ¢huruh's m¢mbership. ￿1th ¢onsid¢raiion being mad¢ ofih¢ir relevani prof¢stsional ¢xp¢ri¢n¢¢ ii*ittitt% of tru$t¢tt All new tru%tees are pmvided iwith the Charity Conunis%ion's guidance on the dlltie% of g mstee Kcy managcmtnt remunerRtio The board ol- trustees inakes all decisions relating lo remuneration ot. our staff teain and liave benCI￿arked salaries against FREEDOM CHURCH HEREFORD CIO TRUSTIES, REPORT FOR THE YEAR ENDED 31 MARCH 2022 Financial instrurnents Ob'ectives and olicies l-he CIO'S activities expose it to a number of financial risks in¢luding credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed bv the CIO'S policies approved b}, the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The CIO does not use derivative financial insrruments flir speculative purposes. Credit risk The CIO'S principal financial assets are bank balances and cash, trade and other receivables: and investments. The CIO'S credit risk is primarily attributable to its trade receivables. The amounts presenied in the balance sheet are net of allowances for doubiful receivables. An allowance for impairment is made where there is an identified loss eveni which. based on previous experience, is evidence of a reduction in the recoverability of Ihe cash flows. The credit risk oil liquid fuiids and derivative financial instriiments is limited because the counterpanies are banks with high credit-ratings assigned by international credit-rating agencies. The CIO has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. uiditv risk In order tl) maintain liquidity ILI ensure that sutTicient funds are available for ongoing operations and future developments, the CIO uses a mixture of long-ierm and short-temj debt finance. Further details regarding liquidity risk can be found in the statemei)t of accoui)tii)g policies in the financial statemeiits. Furtlier details regarding liquidity risk can be found in the Stateinent of accountiiig policies in the financial ststements. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 161926 Principal addres5 The For&Te 161 Holme Lac), Road Hereford Herefordshire HR2 6DG FREEDO￿] I'.HI'.RI.'H HEREFORDCIO 'RI"S'I LES, RLIIOIi'I' I,-OR'I HL I"Lilk LfiDbD 31 NI..IJiC.'H 2022 REFERENCE.4ND ADMINIST114TIVE DETAILS Trustees Mr A J M Raiicnbury- RcsignLd 1810412023 Mrs M A c￿kL Mr R Sallis MT J S D}'suii Auditors MoTrr¢ (liart¢r￿ Awounlants 2nd Statutory Auditor 30 (iaN Strtet 14alh BAI 2PA Senior P*lanogtm¢nt Team MT CJaTh' %nowzell. %eniDr P&Etor mr.￿ H￿ther %iiowzell. StniDr P&4tor Mr Kri.4 Coppo¢k. r.Y¢¢utiTr¢ P￿tOr Mr T)avid Thoina& T.ocations Pasior Mr Joshua ￿n0￿z¢ll. Pastor Mr J¢rem}' Hail￿,(M)d, Opwaiions DireC￿r LI'LN'IN %INC.'L'I"HL L￿D C)Tr"'I'HL Tr LAR In(ormaiion ￿l&lirtg 10 ei'gnts sinL¥ Ihe end of Ihe ￿tar is given in the noie$ 10 Ihe financial siaiemenis FREEDOM CHURCH HEREFORD CIO STATEMENT OF TRIISTEES. RESPONSIBILITIES FOR THE YEAR ENDED31 MARC.H 2022 The trustees are responsible for preparing the Trustee5' Report and the financial statements in accordallce with applicable laiv fmd United Kingdoni Accounting Standards IUnite(l Kingdotn Generally Accepted Accounting PractiLel. The lai¥ appliLable to charities in England and W'ales, the Charities Act 2011: Chariti (Accounts and Reportsl Regulations 2008 and thc provisions of thc trust dccd rcquircs thc trustccs to prcparc tinancial statcmcnts tor cach tinancial Jcar Iihich givc a truc and fair view of the state of atTairs of the charitN' and of the incoming resource5 and application ot- r¢souires. including the income and expenditure, of the chaTlty for that pEriod. In preparing those financial statement5: the trustees are Tequired to select suitable accounting wlicie8 and then apply them con8i8tently' observe the methods and principles in the CharitTr SORP; tnak¢ ju(Ig¢m¢ntS 4n(l e5tiin Inat¢rial r¢stKct M'iih th¢ financial slal¢menls; or suffiLicnt accounting rccL)rds hai'c noi b&n kcpi., or tli¢ fiii3ncial stslement4 ar¢ in agreement with Iht ac£ounling records and rttums; or ie haTrL not r¢ecibcd all Iht informaiion and txplanaiions wt r¢qLJir¢ for our aL)dii. Respon$ibilities of trustees As explained mure fullv in the Sialement of Trustees, ResENinsibililie5. the trustees are responsible for the preparation of the fiiiancial staiemenls M'hich Si￿¢ a true aiid tair view. and for such internal control as the truste¢s dtt¢rinin¢ is ntctssar), lo ¢naiTrlt Iht prtparation of rinanLial siaiLminis Ihai ￿ frLc (rom maicrial missiaiLmLni, %YhLihLr diii 10 fraiid orcrror. In plep￿ilIg Ilie financial %lalemenl%. the IrLi%lee% restmiiisible for Ilie chariti s abiliti. to continue as a g()ing concern. disclosiiig, applicable, matters related lo going conctrn and using Iht going concem basis ot. accouniing unl￿S the Iruslt¢s ¢iih¢r intend lo liquidate Ihe Lhariiy or its Cease operaiions, or ve no realisiic al*m&li￿e bul its do so. REPORT OF THE IliDEPENDENT AUDITORS TO THE MEMBERS OF FREEDOM CHURCH HEREFORD CIO Our responsibilities (or the Audit of the fin&ntial ststements We have been appointed ￿ audilurs under SeLlion 144 of Ihe Charities Aci 2011 and reporl in accordance wilh Ihe ALI and relevant regulaiioiis madt or habing etY¢ct thereund¢r. Our objeLlives are 10 obiain reastinable ￿s￿raftLe aboLII wheiher Ihe financial slatemenis as a whale ate fTee from maierial misstaitinent. whtlher due to traLJd or error, and to Issue a Report ot. th¢ Independent Auditor5 that includts our opinion. Rea￿1￿&ble &￿￿UranCe 1% a high level (if a%%iiranLe. but 1% n' T¢gula110115.' aiid do not hav¢ a dir¢ct tffect on tht financial stal¢iiitnts. but compliance i%'ith i*liich InaN' bt fundani¢nt41 to the Companv'OGroup's abilii), 10 OPLraii or 10 avoid a maiirial pcnalis. ¢ discussed am(Ing th¢ audit ¢nga¥em¢iil t¢Jrn r¢¥ardiiig th¢ (Ipp(irtunitie4 incenliTr¢s that tnay ¢xist within the organisaiion for fraud. and hoNs and where fraud miglii oceiir In rhe financial stAiemenis. In Li)miiiiin with dll audiLs uiider the ISA% IIJKI. we dTe alsu required iii perfortn 4pecifiL PTCILedU￿% l() ￿￿[￿)11d til the ri%k of tnanagement override. In addressing the risk of fraud through management oN'err1dt ot'controls. i%'e tested th¢ appropriateness of journal entries nd i)Ilier ddju%tmeiil%-. &44es%ed ￿'hether the jud¥etnenl% rnade in rnaking dLLI)unlin¥ e4lirnate% ￿ indicative (if a tmiteiilidl bias.. and evaluated tlie biisinesb rationale of ani. significant Iransaciions ihai art iinusual or ouisidt Ihe normal course Of busin¢ss. In addiiion 10 IhL abovc, our proccdurcs 10 rcswnd io thc risks idcniificd includld thc following.. rLwicwing finanLial siaicmLni disclosiircs bv ILsting to supporiing documLniaiion 10 asscss compliancl iviih provisions ot relevant laivs aiid r¢gulatioiis described ￿ ha￿lI7g dir¢cl effect oll the fiiiancial 5tat¢mentS.' Perftsrtning dnalvliLdl procedure% li) idenlif) anv iinusual or UneX￿lied relaiion%hip% Ihai may 1ndiLa￿ risks. ofmaierial missraitinent diie to traud.. Enquiriiig of managernent, ¢on¢¢rning actual and tK)t¢ntial lilig¢iliiiii and claim* and Inst¢￿£¢$ of non-uiinplianc¢5 with laws and regulaiions.. and Reading minutes of m¢¢tings of those charged i¥ith govtrnance. A turther dtscription of our responbibilities tor the audit ot- Iht tinancial staitments is locaitd on the Financial Reporting CDuncil'4 wehsite al ￿wW.frc.or8 u￿￿1UdIto[S[espU￿sJh1lItIe.%. Thi.4 de.4Lriplion fonns pan lif Iiiir RetK)rt of the Independent Audiiors. 12 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF FREEDOM CHURCH HEREFORD CIO Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Report5) Regulations 2008. Our audit ￿ork has been undertaken so that we might state to the charity's trustee5 those matters we are required to stale to them in an auditors, report and for no other purpx)se. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a bod},, for our audit WOTk, for this Teport, OT foT the opinions we have foTmed. MooTe CharteTed Accountants and Ststutory Auditor 30 Gay StTeet Bath BAI 2PA Date.. Jun 8, 2023 13 FRF.F.DiIM C'HI"RC'H HF.RF.FORD C'I coriSOLIDIll'LD S'IA'I I. OTr Tr Iry,INLI.IL AC'I II'I I ILS F.XPF.NI>ITIIRF. 4C.COllhT FOR THF. I'F.4R F.NDF.T) 31 NIARCH 21J22 Restricted fund Tothl fvnds ToLqI funds fvnd Notes INCOMF. ANTr F.NI)OWMF.NTS FROfvf Donaiions and legacies ¥72.666 64.5911 9372)6 907.52¥ Funding tDr thc dLadCtn￿S cduLational i)pcratinn 38.rJ14 31.909 38.014 31.909 32.446 28.641 1.250 Hrart &. Soul 5.310 (XhLr tradin¥ aLtiviti Investment Income 67.176 24.352 ¥2.649 67.176 24.352 70.609 9.346 4.157 1.053.977 (Xher Incurne 2.649 64.590 E.¥PENDITLRE O Raising funds C.hllritAhle yctivitip Media Academ 70.766 70.766 29.393 45.296 29.169 Worship HLYUE 4,366 4.366 10.076 6.922 33.4)3 8.664 419.3U5 4.721 12.693 7.829 10.076 4.-464 Ark vents 2.358 33.453 8.664 396.3frf) 899 321.556 22.945 Direciional Leadership Team Financc 9.23S 1.698 18.404 28.209 27.162 116.342 7.478 2,584 09238 1.698 18.404 28.209 82.414 Ilurnan Resources InLernalional 28.941 27.232 16.292 123.855 6.964 1.534 15.674 6.791 827 27.162 Next Steps (IITI¢¢ Produetion 7eal Mtsmenium 7.478 2584 5.466 22.692 i.466 22.692 257 62 107.792 Ei'cry'nnc Mattcr.4 Fund 257 638 3,554 1.092.939 10.685 575 IXhLr 4.129 .U72.041 Ttstal 49.IU2 993.737 Net gain51{Ios5esl Investments NET INC'I)MEIIEXPEThDITIJREI TrA Trsfers betwteTr fNTrds 97.451 15.488 Ntl in fvTrd5 RECONCILI.4TION OF FIINDS Ibtal fumds brO￿g￿l f•rw*rd 1.266.894 1.035.275 TI)TAL FIINDS C.'ARRIED FI)RII'ARD 26.712 1.379.833 1.266.894 FREbDUM C'HIIIILH H￿R￿￿ll￿D CIU COhSOLID.4TED 4hD LHARITTr BALANLE SHEETS ATJJ 11.4R('JI 2012 As Resta*d Total UThrestricted Tot31 Ids Total FIXED 4SSETS 1,56%.￿F9 1,461.11 CIIRRENT ASSETS D¢htnr5 Cash atiMIth and Inknid )44.2tA) )79.4119 14$.[ 3$8.W) CREDITORS -4mnunt f4llin&due*LihiTribne}ear 20 NF.TCIIRRFliT ASSFTS 26:,9)9 ?46.h07 TOTALASSETS LEbSLIIRRENT LIABILITIES 1.856.929 1.850.487 1.730.803 C.'REDITnRS NET ASSETSIILIABILITIESI I 779.831 1.266.894 FIINDS 25 RcstrLiILyl funds Th¢ finan¢i815Wun¢n¢5 w¢r¢?ppmird byth¢ ofTw5¢¢r5 Jun7, 2023 nd ￿¢r¢ 5iwi¢dfjn ils bBh4lfby. rj [ty&￿-TrUSt￿¢ FREEDOM CHURCH HEKEFOIiD CIO CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022 31.03.22 31.03.21 Notes Cash flows from operating aetivities: Casli ¥entrated from operations I1)￿reSt paid 158,684 19,204 103.389 14,728 Ntt eash provided by (used in) operating activities 139,480 88,661 Cash flows from investing aetivities: Purchase of tangible assets Sale of tangible fixed assets liiterest received 127,794 200 1,071 56 12 Net cash provided by (used in) investing activities 127,582 12,054 Cash flows from finaneing aetivities: New Loans in year Loan repayments in year 539,374 561,269 37.752 Net ea$h provided by (used in) rjnancing activities 21,895 37,752 Other adjuslnjenl Change in cash and cash equivalents in the reporting period Cash and e#sh cquiv#lents at the beginning of the reporting period 9,997 38,855 i05 ?96 266,441 Cash and eash equivalents at the end of the reporting period 295,299 305,296 The notes form part of these financial statements 16 FREEDOM CHLRCH HEREFORDCIO OTES TO THE C'ONSOLID.4TED C'.4SH FLOII. 5T.4TEMENT FOR TIIE YEAR EhDED 31 ￿lARc17 2022 I. RECONCILIATIO￿ OF NET I￿COME1(Ex￿E￿DITLREl TO iYET C.4SH FLOW FROM OPER4TING.4CTII'ITIES 310322 Net ihtomellexpertdiiurel for the repnrtlng ptrlod las per 5tAtemeTrt orriDHnciAI aotii'itie5 ,tdju%tDients frjr.. DiprLiiulivn Ghur¥TL Ga1￿(LosSI on Investinents I.05￿(prOfiL) on Jiswsal or ri¥¢d ￿5¢ts Interest ieceived Intere%t paid D]￿IdendS reieived 112,9i9 231.619 30.263 2.893 19.204 14.72A Cash and cash equivalents In¢[L￿¢ ill J¢btvts Itkcreaselliiicrease In creditois l)iff¢r¢rt¢e b¢iwe¢n p¢rtqion ¢harg¢ artd ¥ash ¢ontributions Sale of fixed as5el Ini'e51men15 Impairment of investment 178 51.¥82 153.4901 54.462 1.687 Net t#sh provided by Ivytd im l oper*iifi* *etiYi¢it$ 15¥.684 103.389 2..4NALTr'SIS OF CASH A￿D CASH EQUIN'ALENTS 31.03.22 Cash In hand NoliGe deF￿lIS (les5 than 3 inonlhsl Overdrafb Inclllded In bank loans and overdrafb falling due Within oneyear 1,323 293,976 1.328 303,968 295.299 FREEDOM CHURCH HEREFORD CIO NOTES TO THE FIN.4NCIAL ST.ITEMEINTS FOR THE I'EAR ENDED 31 M.4RC.H 2022 I CHARITY STATUS Th¢ ch(￿1¢). is a Charitabl¢ TnLvrpor41¢(l Organibation. Thc prcscniation currcncN tor thc rcporiing cniity is Grcat Briiish Pounds (GBPI. 2 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements ot the chariti., Thhich is a public benefit entitTr under FRS 102. hai'e been prepared in aLLnrdanLe i￿lIh Ihe Charilie8 %ORP IFRS 1021 Accouniing and Repi)I"ling by Charilie%.. Siatement of Reti)minended Practice applicable to charities preparing their account5 in accordance iiith the l.inancial Reporting Standard applicable in thc UK and Rcpublic ot. Ircland IFRS 1021 {cffcctiN'c l Januar), 20191,, Financial Rcponing Standard 102 ThL FiiianLial R¢pvrting Sian(lard appli¢abl¢ in the UK anJ Republic vf Ir¢lallJ' Jnd th¢ Charitie5 AL¢ 2011. Th¢ fin4ncial staiements hai'e been prepartd under the historical cost con￿ention 14'ith the exception of investments i4,hich are included ai markel value, ab modifieJ hy the revaluatii)n i)f¢¢rtain a%seib. Fr¢¢(Ivm ChurLh H¢r¢furd CIO m¢ets th¢ d¢finitiun (If a publii b¢n¢fil ¢ntity un(l¢r FRS 102. Abs¢ts and liJbiliti¢S initiallv recognised at historical cost or transaction value unles5 otherwise stated in the relevant accounting polic>. notes. The financial statements are prepared in sterling i¥hich is the fullctional currellC}' of the charity. Comparative inl()miaiii)n relate% ia the N'ear elided 31 March 2021. Summary of significant accourjting policies and key accounting estimates Th¢ princip41 ¢tLivunling puli¢i¢s itppli¢J iii the pr¢pitrotiun uf Ih¢s¢ financial statements. itT¢ S¢t out b¢l(Iw. Th¢se policies have been con515tentlN applied to all the N'ears presented, unless othern%".ise slated. Croup fithJ)ntial statements The lindncial 4iaiemeni% ti)n%nlidaie Ihe re%u118 of the Chariiy and il% i¥hollv owned %ub8idiarn Wildfire (Hereford) Limited on a line-b>'_line basis. A separate Stateiment of l.inancial Actii'itie5 and Income and Lxpenditure Account for the Charit) has not been presented beLause the Charity has taken advantage ot'ihe exemption at'torded by Seciion 408 of the Compani¢s Act 2006. Intome All incomc is rccogniscd in thL Statcmcnt ot. Financial Activitics oncL thL charit}, has cntitlcmcnt to Ihc funds, it is pwb4bl¢ that the in¢vm¢ i¥ill b¢ r¢i¢iv¢d th¢ arnvunl can b¢ measured r¢liably. Exp¢nditur¢ Liabilitlcs arc rccogniscd as cxpcndiiurL as soon as Ihcrc is a Icgal or constructi￿C obligation committing Ihc charity to Ihilt exp¢nditur¢, it is iirubJblt that traiisf¢r uf ¢¢(?ni)tni¢ b¢ii¢fits' ￿111 b¢ r¢quir¢(l in sttiletn¢nt Jii(I the itrnvunl lif the obligation can be measured reliablN. Ekpenditure is accounted for on an accruals basis and ha5 been classltied under heading% Ihai aggregate all co%t related li) the caiegory. Where co%18 canni)I be directlv ditribuied 10 particular headings the} have been allocated to acliNilie5 on a basis con51Stent with the use of re50urce5. Grants otfered subject io condiiions m.hich have noi been mei at the lear end dale are noted as a commitment bui not accrued as exp¢nditUT¢. Raising funds Suppthri ci)%t% include ceniral funLiiDn% and have beei) all[￿aled li) activity e()%t categorie% thn a b&81% e()n%i%ieni ivith ihe use of resources, for exarnple. allocating propertTr Costs by floor ar¢a5, or per capil4 staff costs bN' the time spent and oiher costs bl. their usage. Charitable aetivities ChariiablL expenditure Lomprises those cosis incurred b>. the chariTh in Ihe delivern. ot. its aLtiviiies and services tor i benefiLiJri¢5. It in¢lud¢s both cost5 that can be allocated diTeCtIN to such activities and thos¢ costs vf an indirect n4ture ncccssarn" io support thcm. Governance costs Th¢b¢ iiiLlud¢ th¢ Lvsts 4ltribut¥ibl¢ tv th¢ chlwili s ¢otnpliance with Lun51iluti(Inal and bt41utor! r¢quir¢tn¢iit5', including audit, strategic managemeni and trusttes, meetings and reimbursed expenses. FREEDOM CHURCH HEREFORD CIO NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2022 2 ACCOUNTING POLICIES- continued Tangible fixed assets- eapitalisation Depreciation is provided at the following annual raies in order to MTite off each gsset over its estimaied use￿] life. Freehold property ImprOve￿entS to property Fixtures alld fittings Moior vehi¢les ComputerlPA equipment -Initial recogi)ition -33 % OTi Cost -201 on reducing balance -250/0 on reducing balance -33 /0 on cost Individual fixed assets costing £f 00.00 or more are initially recorded at cosL less any subsequent accumulaied depreciation ai)d subsequent accun)ulated iinpaimJei)t losses. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 201 O and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordinglv, the charity is potentially exempt from iaxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Acr 1992. to the extent that such income or gains are applied exclusively io charitable purposes. Fund structure Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trnstees. Restricted fund5 can only be used for particular restricted purposes within the objects of the charity. Restriction5 arise when Specified by the doiior or when fiinds are raised for particular restricted purposes. Hire purchase and leasing commitments Rentsls paid under operating leases are charged to ihe Statement of Financial Activities on a straighi line basis over the period of the lease. Pension eosts and other post-retirement benefits The charity operates a defined contribuiion pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Aciivities in the period to which ihey relate. FRLLDOM CIIURCII IlbKbTr'ORD c.10 NOTES TO THE FINANCIAL STATEfvIF.NTS- CONTINUED FOR THE I'EAR ENDED 31 MARC'H 2022 2 ACCOUNTIliG POLICIES- tontinued Tr#de debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debt0￿ are recognised initially at the transactjoll price. They are subsequently mcasured at amortised cost using the effective interest method, less provision for impaimient. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. CAsh And cAsh equiwglents Cash and cash tquivaleiit5 coinprise cash Oll hand and call dep051ts. and other short-tetTh highly liquid inve5ttnent5 that are readily convertible to a knowt] ainount of cash and aTe subject to all insignificant risk of chat]ge in value. Trade creditor5 Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts pa>'able are Classified as Current liabilities if the Charity does not have an unconditional right, at the end of the reportiilg period, ¢0 defer settlement of the creditor for at least twelve Inoilths after the reporting date. If there is ali unconditional light to def¢r settlement for at least twelve months after the reporting date, they aTe pr¢s¢nted a5 llOII-CUTrcnt liabilitl¢5. Trade ¢Teditors are re¢ognised initially at the tran5a¢tion price and subsequently Imeasured at aniortised cost using the effective interest nicthod. Borrowings Inierest-bearing bOrrO￿lns$ are initially recorded ai fair value. net of transaciion costs. Interest-bearing bOrrO￿lnsS are subsequently ¢arried at aniortised cost, ￿lth the difference betweei) the pro¢eeds, net of transaciion costs, and the amount due on redemption. Interest expense 15 recognised Oll the basis of the effective interest method and is included in interest payable and siinilar charges. BorroThings are classified as curreiit liabilities unles5 the charity has an unconditional right to defer settlement of the liabilit! for at least t￿e1Ve months after the reporting date. Fingntixl instruments Classifjcation Financial assets and financial liabilities are recO￿lS£d when the charity becoines a party to the contractual Provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Reco nition and measurement All financial assets and liabilities are initially mcasured at trallsaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is nomially the transaction price excluding iransaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing iransaction, the tinancial assei or financial liability is measured at the preseni value of the future payments discounted ai a market rate of interest for a similar debi instrllmeni. Financial assets and liabilities are only offset in the stateinent of financial position when, and only when there exists a legally enforceable right to set off the recognised amounis and the charity. intends either to settle Oll a net basis, or to realist the asset alld settle the liability simultaneouslv. 20 FREEDOM CHURCH HEREFORD CIO NOTES TO THE FINANCIAL STATE￿IEyTS- cO￿TINuED FOR THE I'EAR ENDED 31 ￿lARc.H 2022 ACCOUIYTING POLICIES- continued Financial assets are derecognised when and only when al the contractiial rI￿ts to the cash flows from the financial asset expire or are seiiled, bl the charity transfers to another party substaniially all of the risks and rewards of owiiership of the fiiiancial asset, or cl the charity, de5Plt¢ having T¢tained 50m¢, but not all. significant risk5 aiid rewards of Owllership, has transferred control of the asset to another party. Finan¢ial liabilities are derecognised only when th¢ obligation sp¢cified in the contract is discharged, Cancelled or expire5. Debt instrunients Debt in5trumeiit5 MhiLh nieet the following conditions are subsequently measured at amortised cost using the effective interest method.. lal The contractual retum to the holder is (il a fixed amount., liil a positive fixed rate or a positive variable rate,. or liii) a combit]ation of a p051tive or a negative fixed rate and a positive variable rate. Ib) The contract may provide for repayments of the principal or the retum to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is dcnorninat¢d, PTovid¢d such link5 are not leveraged. Icl The contract may provide for a deter￿Inable variation of the r¢turn to the holder during the life of the ii)stTumenL provided that li) the new rate satlsfies condition la} and the variation 15 not contingent on future events other than111 change of a contractual variable rate,'121 to protect the holder against credit deterioration of the issuer,'131 changes in levies applied by a ¢enlral bank or arising from changes in relevant taxation or law,. or lill the new, raie is a market rate of interest and Satisfies conditioii lal. Idl There is llo contractual provision that could, by its tenns, result in the holder losing the principal amount or any interest attributable to the current period or prior periods. lel Coi)Iractual provisions ihat pemil the issuer to prepay a debt instrument or permit the holder to put it back to the 155uer before rnatUTlty are not contiiigeiit on future event5, other than to protect the holder against the credit deterioration of the issuer or a chaiige in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law. ID c.ontractual provisions niay perniit the extension af the term of the debi insirumenl, provided thai the retllrn t() the liold¢r aiid any other contractual provi510t15 applicable during the exteiided t¢TIM 5at15fy the coiiditlOll5 of paragraphs la} to {cl. Debi instruments that are classified as payable or re¢eivable ￿1th1n one year on initial re¢ogniiion and whi¢h meet the aiM)ve conditions are rnea5ured at the uiidiscounted atnout]t of the cash or other con5id¢ration expected to be paid or received, net of impairment. With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Committneiit5 to tnake aiid r¢c¢ive loans whicl) meet the conditions tneiitioned abov¢ are mea5UTed at cost (which may be nil) less impairtnent. Investments Investments in noi)-¢onvertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their faiT value 15 reliably mea5urable} are tlleasured at faiT value through profit or105s. Where fair value cannot be measured reliably, investments are nieasured at cost less impairment. Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for ¢oi)siderJtion including the issue of shares qualifying for merger relief, cost is measured by reterence to the noininal value of the shares issued plu5 fair value of otheT Collsideration. Any premiutn is ignored. 21 FREEDO￿1 C'HIIRC'H HEREFORD C'IO NOTES TO'I HL ￿l￿.4￿C..IAL %I'.4'1'L￿I￿N'I S- C.'ONTINUED 'OR'I'HL I LAR LNDLD 31 ￿.1..￿￿C-H 2(122 3 DONA TVONS AND V.F.GAC'.IF.S 31.03.22 Totsl 31.03.21 Gentral Resiricted Donaiions Insurdncc claims Gill Aid Grdnis 772,965 60.958 833.923 760,094 38,728 IOD,906 4,800 907.528 99,701 3.632 103.333 87?.666 64.590 9)7.256 GrLints reLeived, inLluded in the are fLTrIIDws'. 31.OJ.22 31.03.21 Lo￿1 Louncil 4.%011 4.%0 4 OTHER TIL4DING ACTIVITIES 31.OJ.22 31.03.21 R¢￿Urc¢S sale5 Caft incomt Media produaion F.i'tnls & conl¢rtnciiig 551 177 729 69.152 70.009 2.478 4.672 60.026 67.176 S IN1-EsT￿lENT INCOP*lE 31.03.22 31.03.21 Rcnis rccLivLd IniLrcst rcccvablc-trading 9,290 56 12 ?4,352 22 FRFF.TrO￿I C'HIIRC'H HF.RF.FORD CTO NOTES TO THF. FIN4NCTAI. ST4TF.MF.NTS 4'ONTINUED FOR THF. I'F4R F.hnFI) 31 MARC'H 2022 6 INCOME FROM CHARIT.4BLE ACTII'ITIES 31.03.22 Aftivih. Acadei A¢ademv Income A¢adernv reiilal Income A¢adernv Income Academ} income 38,014 31,909 32.446 28.641 1.250 He4rt & Soul Fire4tarter 75.233 62.337 7 OTHER INCOME 310322 Gain on sale of tangible fiyed assets 766 52.732 5.695 24.222 82.649 Coaching income Reiinbursments 8 RAISING FIINDS Other trAdiTr% aftivitie 31.03.22 Pllrehases C.'HARI'IABLL AC.'I'IVI'IIL% C.'O4IS Citani lurtding Direcie()%L% Suppthrt L￿%L$ l%tt no￿ 1111 {%ee n()ie 111 Media Atadem) Wot%hip 340 711.766 29.393 4.36f) 2A.742 2.018 7.315 7Y 1.748 Ark 6.843 2.967 25 6.Y22 33.453 %.664 419,305 Evenis (Tue%i %erviee% A.63Y 15.374 6.2U6 Direciional Leadet%hip"I"eam Pinance 142.655 58.276 69.23% Humart Re4r)urces 496 2.U&O 25 564 1%.404 2%.209 27.162 26.12Y 27.137 L￿li￿nI$l Nexl 4iern4 ()Irice Pn)duLli(>rt 7.478 2.584 16.654 5.097 5.15Y 19.747 257 10.728 4.129 994.8?.5 7.47% 2.514 478 5.710 5.46f) 22.692 257 M()mertlum 307 Ever)thrte Maiter£ Fund 595 Other 19.636 l.WTr9.630 23 FREED()M C:IIIIRI'.11 IIIRIF()RD C:I(> O'I'LS'I'O'I'HL Tr'lry.4￿C.1.AL S1'.4'1'E.1lbN'I'S- C'ON"J'INLLD FOR THE I"EAR ENDED 311IARC'H 2022 10 I'IL4Nr% PAY.4BLE 31.3.22 17.908 28.941 Locationlsl 1,72 19.636 28.941 GTaiit5 are paid lo churches that the Chariry have hel￿d to establish at the discretion of the triislees. Th¢ funds paid arc u￿d to furthcr Ihc chariiabl¢ obji¢iii'¢s of ihc Chariii,. Diie lo their nature, there are no criteria for ￿pal'Ment. Diiring tlie rewrling period the grnntq paid to oi'er£tas campu£eq ts)lal £19.636 thi.4 1£ split hett4.een the folloiving canipuses.. Freedom Chiirch Raleigh Freedom Chlirch Cape Tvwn Frccdom Church Kampala Freedoin Chiirch 'Christinas" 9.150 252 1.728 8.506 19.636 11 SUPPOR'I. COSTS InftsTmaiion Go￿e[nance rinance t¢chnology costs Touqls Media 186 154 340 A¢2d¢my Il'orship Heru¢s Ark 523 1231 2.754 128 651 1,748 2,761 6.843 2,967 25 15.374 6.206 10.962 6,712 enls 1,823 25 338 289 186 Gue$i Servi¢eg 15,036 5.770 9.569 536 Directional Leadership-leat Finance Hllman Resour¢¢s 147 1,207 981 496 2,080 25 564 478 IT Kids Locatioiilsl 2,076 25 429 24 454 Zeal Munientum rir¢start¢r sali￿1nds 49 258 72 174 15.445 307 595 55.169 8.813 24 RTr:b.i)nM C'HIIR<-H HTr.'Rb".Tr'ORI) C'I NOTES TO TIIE FIN,INC.I.IL 8T..ITEP+lENTS- CONTINIIED FOR THE Tr'EAR ENDED 31 ￿lAR[.H 2022 12 AIIDI'I'ORS, RLMIINLRA'I'ION 310322 F-¢¢s pavable ￿ Ihe ¥hariiy's audi￿r$ for th¢ avdit ofih¢ ¢harilyS finaniial stai¢m¢nts 13 TRUSTEES, REMI"NEIL4TION Ai%D BE￿EFITs l)urin8 th¢ year lh¢ ¢harii} made lh¢ follo￿lft8 iransa¢iions wilh Irwsi¢es P¥Ir Andre￿.1￿Me% ￿larty￿ Rattenhury Mr Alldre￿ Jamkn Martyn tiattenbury received reinuneration (Jf £NIl 12021. £NIll and £NJl12021.. £Nill of exp¢nstr ￿tre r¢imburqed to Mr Andrei¥ Jamtr MartS1rt Kattenbur! during the lear Al th¢ buluncc 5hLLI daLC. thi aTllOUllt O￿ld l(Tr MrAndiLI4.Jamcb Mart￿￿ RallLnbury £2812021". £Nill P¥lr$ IleR¥n AItA*fJdr¥ (..￿)ke Mts McBanAle¥andra C￿ke reieived remiiiieratioii ot-£NIl12021. £NIll and £NIl 12021. £NIll ot-expe]Ise5 I'ere reiinbursed lo Mrs Megan Alexandra Cooke durin8 the )'ear Al Ihc bHlancc 5hcth datc. thr aTllOUllt N%cd t(Tr Mrs Mcgan Alcxandra Cwkc £NIl12021. £NIll. P¥lr RY￿￿ S4llis Mi R>an Sa1115 ￿CtIVed reinunetalion of £Nil12021-. £Nill and £NIl12021. £NIll of expense5 were ieimbur5ed lo Mr Ryan Sa1115 during Iheyeai. Al the balance sheet date. the aTllOilllt Nied to Mr Ryan Sallis ivas £NIl12021. £NIll. Mr Jarne5 Stuart D).50 Mr Jallies Stuart Dysoii received ranuneration of £Nil 12021.- £Nill and £NIl 12021 £NIll of expeiises iiere reimbllrsed to Mr Jll￿e5 Stuart Dswn during the vear. At Ilie bal￿7Ce sheet date. Ihe aniouiit oNNed to m[Ja￿eS Stuarr Dison £NIl12021 £NIli. Trustees, t¥penses A5 detailed above 25 TrKbEDOM CHURCH HEREFORD CIO NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE Tr'EAR E￿DED 31 MARC.H 2022 14 ST AFF COSTS 31.03.22 31.03.21 Wages and salaries Social security costs Other pension costs 366,658 19,043 9,530 -795,2.31 339,439 16,585 8,904 -?64,928 The average monthly number of en)ploy¢es during the year was as follows.. 31.03.22 31.03.21 Staff Academy DLT Events Finance Kids Location Media Zeal 29 28 No employees received emoluments in excess of £60,000 Total remuneration paid to the 4 key management personnel was £120.44712021.. £90.364), lllcluding employers Nl and pension contributions. No individual was paid more than £36.000 gross salary. No benefits in kind were paid lo any employees. 15 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds INC.OME AND ENDOWMENTS FROM Donations an(1 l¢ga¢ies Charitable actLVltie5 Fiinding for Ihi acadLmy's Lducaiional vperaliuns 777,360 130,168 907,528 28,641 1,250 28.641 1.250 Heart & Soul Other trading activities Tnveslment in¢ome Other income 70,609 9,346 4,157 92i,809 70,609 9,346 4,157 1,053,977 TotAI 130,168 26 FREEDOM CHURCH HEREFORD CIO NOTES TO THE FINANCIAL STATEMEINTS- CONTINLED FOR THE YE.4R ENDED 31 MARCH 2022 16 COMPARATIVES FOR THE STATEMENT OF FIN,INCIAL ACTIVITIES- continu¢d lJnre%tricied ResiriLied Total fund fund funds EXPENDITURE ON Rai%ing lunds Charitable Activities Media Aia(l¢m}' Heari t()r Atrica 45,2C)6 29,169 126 45,296 29,169 126 Worship I ler0¢5 4,721 1,541 7,829 19.233 4,721 12,693 7,829 19,233 899 Ark Ei'ent Gucst scrvices 899 321.556 321,556 127,161 82,414 ,530 28,941 Dir¢Ltivnal l.¢dd¢rship Tearn Finance 82.414 1,530 28.941 27.232 16.292 123,855 6.964 I,)34 15,674 6,791 827 Human Rcsourccs International TT Kids 16,292 123,855 6,964 Locationlsl Next Steps OffiL¢ Pr(Nluction 15,674 6,791 827 Zcal Momentum Fir¢starl¢r Ei'ervon Matier8 Fund 62 62 107,792 5,146 993.737 107,792 Other i.146 874.79.? I l R,944 N¢t gaindllos5¢sI on investments NET INCOP+lEI{EXPENDITLIRE) 146.3821 2.634 146,3821 231,619 228,985 RECONCILIATION OF FUNDS Total funds brought forward 173.6731 I.IOR,948 1,03i,275 TOTAL FUNDS CARRIED FORIVARD 171.0.791 1.337,9)3 1,266,894 27 FREEDOM CHURC'.H HEREFORD CIO OTES TO THE FINANC.IAL STATEMENTS- C.o￿T1p1uED FOR THE YEAR ENDED 31 MARCH 2022 17 GROL'P TANGIBLE FIXED ASSETS Freehold ImproNements t() prthpertv Plallt and maehineri, pmperty COST At l April 2021 Addition5 Diswsals ReTraluation5 .415,000 280,286 3.565 68) Ai 31 MarLh 2022 280,28h 4.2iO DEPRECIATIOIY Al l April 2a21 Charge tor vear F.lirnillut¢d vn (lisP(iS￿II 28a,280 308 At 31 March 2022 280.286 2.661 NET BOOK VALUE At 31 March 2D22 1.589 At )1 March 2021 1.415,000 Fixiiire% and Mi)tor ComputerTrA equiptnent fittings Vehicles Tota15 COST AL l April 2021 Additions DistX)5¢115 KeTraluation5 68,3.31 7.697 4,509 18.?,377 17.310 1,955,068 127.793 11,945} 1),168) At 31 March 2022 76.028 2.)64 197,519 2.077.748 DEPRECIATIOIY Ai l April 2a21 C"harge for vear Elirninated on disposal At JI MarLh 2022 46,a81 5.551 1,697 308 161,145 12.979 491.561 19.147 13651 1,640 11.6551 12.0201 5118,688 51,6)2 NET BOOK VALUE Ai 31 MarLh 2022 24.396 924 25.050 1.569.060 At 31 March 2021 22,2iO 2.812 22.232 1,463.i07 I'he l.oi'g¢. 161 1 loline Lacv Road. I l¢refoi'd, I IR2 6DG i¥as valued on an open tnaTk¢t basis on 1410112021 by Sai'illes IUKI Limited. 2¥ FREEDQhJ (HIIRCHHEREFQRDCID R TFIF. I'F.AR F.Nt)Ft)Ji IB F￿EDAsSETLyvEST￿Er￿tS M.IRKETI"ALIIE F4LIB(Y)KVALIIL ThCrc￿￿rC￿oi￿Tr￿5lmc￿IB5SctsO￿tsldcth￿uK Dunn¥April 2073 pJrtDfthrinir5M￿Iv￿&415PEw4jnd 5DthE1&￿ryngvI1￿C[￿lCU&ihr￿￿￿rds￿wv￿ Th¢[￿m&7￿1n¥￿1￿n￿￿f I9 DEBTORS.. FAI.I.ING DUF.wrrHINONF. YF.AR Trndrdrbio OihHd¥biws .848 115.04 10 CRF.fJJTORS-. ANfOLiwfsFAI.l.tr*GbLF.II'ITHIN ONF.YEAR Trthcfeditw 57.i56 [￿hC￿Cr￿L1O 3.546 C￿d71¢4rd AC￿U￿15B￿ddefèrred Inc4>Jne s8,￿7 CREDITDR8...4NfOLINfsFALLthC.DLE 4FfERMfJRETJL4NONEITAR 503.807 50J.g07 4¥2_•92 thcfDII0¥Fi￿g1￿rn5 240mDnihsErOTh firsiJrdWdV￿ 1 6Th¥W¢bts$e FREEDOM CHURCH HEREFORD CIO OTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2022 22 LOANS An analysis of the maturity of loans is given below.. 31.03.22 31.03.21 An)ount5 falling due within on year on demand.. Bank oveTdTaft Bank loans 19.071 52,481 Amount5 falling between oiie and two years= Bank loans- 1-2 years 19.802 52,481 Amouiit5 falling due between two and five year5.. Bank loaiis- 2-5 years 484.005 439,811 23 LEASING AGREEMEYTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 31.3.22 31.3.21 Within one year Between one and five yeaTS 71.039 91,058 162,097 127,500 212.667 340,167 24 SECLRED DEBTS The following secured debts are included within creditor5'. 31.3.22 31.3.21 Bank loans 522,878 522,878 544,773 544,773 All bank loans are secured against The Forge. 161 Holme Lacy Road, Hereford, HR2 6DG 30 Tr'RELD -'II IILREI.'ITrRD IU'I'IITr. I.-INAliC'IAI..%-1'4'11,:MF.'N'I%- CONI I 25 MOI'EMENt IN FITNDS As Rc5tatcd Ncl m￿C￿c￿l Iii funds At310322 Thc Forgc Rthaluation Re$erse Restricted fund Oncxonc Freethni Heroes 8.790 18.79)) 26.712 Evrryunr Martci Thc Forgc Rthaluatlilll ke$etse 1 108.948 TOTAL FLNDS 1266.894 Ne¢ Mo¥em¢nt in fund5. In¢1yded In theatw'eare as fo110w' RcyourLCS cX￿￿dCd Gains and losscs Transfc15 MDicmcnt In fund5 ruourcc5 Unro4¢ricieJ 11.6861 Thc FDr¥c Rthaluation Reserse 1.686 Rmtriet￿I fuhds 14.5641 OTrcxonc Freed)ni Heroes 22.945 37.396 Ev¢ryun¢ Malt¢r Thc Forgc Rthaluatlilll Re$etse TOTAL FLNDS 11.086 Duiing 2021 the pl0￿rry T1ie Forge, wasrei•lued The [￿￿]uatIon amiiunt of£)17.?63 ￿lould hase gDne Intoa ievaluation revaluation reserve As mcnlioncdabDTrC. thc tru51cc&hRI'c dccidcdthaiThc For¥Jc propcrt} no lon&pci Thccts thc ciitcria for 1ccla551fication and h&%been dereslricted This le￿al￿a￿On iesen'e (￿h]ch fiinns parlOfthe￿elll11 fundnfth15 pfiipemrl ha&theiefore al%0 been re¢1Js%ifieJ ITh¢0 am uiir¢s¢ri¢trd r¢valua¢it)n Iwtv¢ In ¢he ¢urrent y¢ar Comp3r3tive5 n1Dle￿￿￿t ID fund5 Nct movc]Mcnt In funds At01O420 unreStrirt￿ GcnctRI lund Rt5tTlCted funds Irk r¢edoM Iler(*s 8,790 Thr Furgc R￿alUatiOn Rcsctsc 1.108948 ?)8.9g7 TOT41. ￿[..ND$ RD 111.- blN4Nf'lAI. S141-I:Mb.Y l -C'VN'I'IN R I tlb-. I Tr.hDTr.'D3I ￿7￿J1[.J1 2ts22 25 MOVEMENf IN FITNDS- Comparative net niovement In fuThls. IIKluded In the abo%e3re as follow5 Incoming suurc¢ Resource5 pvndvd Gainsand Mo¥¢men¢ In Unre8trieted l￿Dd8 923,W9 874.79i 46,389 2,634 Re5tTlCtd fund5 Ark- Frethni Heroes Ei'¢ooM¢ Matters e Foige RJuluRlion Rcscrvc 19.942 IiJg,049 É.7g8 217.763 2?8.985 TOT.4L FUNDS 26 EMPL()YEE BENEFIT OBLIC7.4TlnN8 Pension Plancontributions This exr¢nse Is 811o¢ated tothe relevan¢charitsblea¢¢ivitv hasedon the emplN'ee's department ￿'1th1￿ th¢ Chaiiti, Both ex￿￿se and the liability forthe plansare aCcoUn￿d foi ￿￿thin the unrestr1c￿d fund 31 'HIIR .'H HERE￿ORD NOTES Tn l HTr.' b"IN.tNC'l..IL 8lIl'l'Tr"hlLNT. C.ONTIliI.'ED FOR TIIE I"EAR E￿DED 31 M.4RCII 2022 27 0'1'HTr:R blNANCI.41. C'ONIMI'I'NITr-.N'IS At lh¢ Halan¢¢ She¢1 da*. Ih¢r¢ w¢r¢ ¢apitsl ¢ommiim¢nis Ihai Fr¢t¢*)m ('.hur¢h had ¢ni¢rtd Into f￿ th¢ fuiure Ye￿r. 28 POSI. I141.A￿(..Tr. SHTr".Tr.'I' Tr.￿'￿-.￿.1s DuTing Apnl 2023, Shares in Meiilor Group were rea115ed al the catrying Yalue ofthe shares a5 In these ccounts. We confirm tliat this Is a non-adjusting event 33 FREEDOM CHURCH HEREFORD CIO NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2022 29 RELATED PARTY DISCLOSURES During the year the charity made the lollowing related party transactions.. Josh Cooke Husband of trustee, Megan Cooke Josh C(ioke was paid expeiises tsf £Nil {2021.. £356) during the financial year. At the balance sheet date, the amount owed to Josh Cooke was £Nil (2021.. £Nil} Total remuneration received during the period.. £6,086 (2021.. £16,887) Emily Rattenbury Wife of tiustee, Aiidrew Rattenbury Emilv Ratienbury was paid expenses of £Nil {2021.. £Nil) during the financial year. At the balance sheet date, the amount owed to Emily Rattenbury was £Nil (2021.. £Nil) Total remuneration received during the period.. £10,200 (2021.. £11,188) Dave Thomas Key Management personnel Dave Thoinas wa5 paid expense5 of £693 {2021.. £Nil) during the fjnancial year. At the balance sheet date, the ainount owed to Dave ThoTllaS was £166 (2021.. £Nil) Total remuneration received during the period.. £35.854 (2021.. £22.553} Gary S￿o￿7e11 Key Manageinent per50nnel- Senior pastor Gary Snowzell was paid expenses of £1,159 (2021.. £Nil} during the financial vear. At the balance sheet dare, the amount owed to Gary sno￿Ze7] was £Nil (?021.' £Nil) Total remunerglion received during the period.. £34,027 (2021.. £30,645) Heather Snowztll Key Leadership Personnel Senior Pastor Heather SnO￿Ze11 wa5 paid expenses of £Nil (2021.. £Nil) during the financial year. At the balance sheet date, the amount owed to Heather Snowzell was £Nil (2021= £Nil) Total remuneiation received during the period.. £14,583 (2021.. £12.262} Joshua Snowz¢ll Ke}. Leadership Per￿onnel Joshua Snowzell was paid expenses of £Nil {2021'. £781 during the Iinancial year. At the balance sheet date, tl)e amount owed to Joshua Snowzell was £Nil (2021.. £Nil} Total remuneraiion received during the period.. £15,226 (2021.. £Nil} Charlotte Snowzell Daughter-in-law of Senior Pastor, Gary Snowzell Charlotte Snowzell was paid expenses of £109 (2021.. £Nill during the financial year. At the balance sheet date there was an amount of £Nil (2021.. £Nill owed to Freedom Church Toul remuneration received during the period.. £Nil (2021.. £Nil} Isaac Snowzell Son of Senior Pastor, Gary Snowzell Isaac Snowzell is a cusiomer of Freedom Church- ai the balance sheet date, there was an amount Lif £Nil {2021.' £Nill owed to Freedom Church Total remunerglion received during the period.. £Nil (2021.. £Nil} 34 FREEDOM CHURCH HEREFORD CIO YOTESTn THL ￿lIAN(..IAL STAI'LMENI'S_ C.'nNTINUED FOR THE YEAR ENDED31 MARCH 2022 29 RELATED PARTI. DISCLOSURES continued... Diirin¥ the ),e￿ the Lharity niade the folli)M'ing part), IrdnsaLliuns. Christopher Cooke ath¢r- iii- law of trusl¢e. M¢gan C(x)ke Christopher Cooke i¥a5 paid ¢xp¢nse5 of £15412021.. £Nill during the financial Near. At the balance sh¢et date. IhL amouni OWLd 10 ChrisiophLr Cookc ￿,￿8 £Nil12021.- £Nill 'lotal r¢tnuneration received during the period.. 113,70312V21.. 112.1351 Karin c.ooke mothLr-in-1a￿ of irusicc, Mcgan c￿kL Karin C(M)kL M'as paid LXPLnscs of £47212021.- £1681 during lh¥ financial Jcar. At ihc balancc shLXt datc, the ainount owed to Karin C(M)ke ￿'aS £Nil12021.. £Nill Total rcmuncraiion rccLivcd during IhL pcriod.. £17.12912021.. £16,582) Sian Vtrmgut Sist¢r-in-law ot trust¢e. M¢gan C(x)ke Sian V¢rinaut ilas paid ¢xp¢nst5 of £43612021.. £1541 during th¢ finaiioial }'¢ar. Al th¢ balanc¢ sh¢¢t dal¢, the amoLini oi%'Ld 10 Sian Vcrmaui was £Nil12021.. £Nill -lotal r¢tnuneralion rec¢iTred during the period.. 115,61412021.. £15.2901 Kris Coppock Key Leadtrship Personnel- Execuiivt Pastor Kris Coppock w'as paid txptnses of £98 (2021.. £2221 during the financial i'ear..41 Iht balanct sheti dait. Ihe ainount oN4'¢d to Kris C..op￿ck ￿.￿5 £Nil12021.. £Nill Total remunerdiion rec£ived during ihe period.. £22,83812021.. £16,057) Kirstie Coppoek Sister of ExeLUtive Pa8tDT. Kris Coppock Kirstie Ci)piN)Lk is a cu4tDmer of Fr¢edotn Church- at th¢ b¢ll(￿¢¢ sheet dat¢. th¢r¢ wa5 an ￿￿Ount of £Nil12021.. £Nill owed io Freedom Chiirch Total remuneration rtceivtd during ihe ptriod.. £Nil12021.. £Nill Nettle Coppoek ML)Iher ()f ExeLUtive Pd4tOT. Kri% Ci)pp()Lk Netlie Ci)pp(Kk paid expen%e% (If £Nil 12021.. £Nill durin¥ the finanLldl At Ilie ba1￿ce.5heet ddte, the amount oil'ed to Neiiie Copp)ck ivas £Nil 12021.. £Nill Tiital retnunerali