Charity Number 1191043 FREEDOM INITIATIVES TRUST CHARITY ACCOUNTS Report and Accounts for the year endlng 31 March 2023
FREEDOM INITIATIVES TRUST CHARrrY AccouNrs Report and Accounts for the year endlng 31 March 2023 Contents Pa8e Trust Informatlon Trustees Report Trustees Responslbllltles Independent Examiner's Report Statement of Financlal Actlvities Balance Sheet Notes to the Accounts 9-11 Detsiled Statement of Financial Activities Unrestricted Account Restrlcted Account 12 13
FREEDOM INITIATIVES TRusf CHARrrY Accoumrs Trust IOrMatIOn for the year endln8 31 March 2023 Charity Number 1191043 Trustees S Alan (Chair} l Nundy R Edden W Wilson Resigned l November 2023 Appoinled l November 2023 Appointed l November 2023 Addre55 7 Londe8b0 Ter Leeds LS9 gNE Indendent Examlmr Samantha J Suldtffe F.C.CA Torevell Dent Llmited Centre of Excellence Hope Pa Trevor Foster Way Bradford BD5 8HH Page I
FREEDOM INITIATIVES TrUST CHARITY ACCOUNTS Trustees Annual Report for the year endin8 31 Marth Z023 The Trustees present their report and finandal statements for the period ended 31 March 2023. Objedfves, Orpntsatlon and Actlvhles Freedorn Initiative Trust was constrtuted on the 2nh August 2020 and is a Registered Charity numbered 1191043. Prevlously to the 4th Au8USt 2023 the Trusts name was Freedom Church Trust The administrative address 1$ 7 Londesboro Terrace. East End Park, LS9 9NE. The Oblertlves of the Charfty afe: a) the advancement of the Christian faith bl the promotion of Christian principles I the relief of the poor, the sick or others In material need dl social welfare by means of recreation or other leisure pursutts The Trust employs a small number of pastoral and admlnlstrative staff. Most artlvlties however are led and supported by members of the Church communlty who work voluntary. Actlvltl05 Include: support for Christlan m5nlstry In Leeds and further afield; training and teaching In Biblical principles and practice; provision for famllles. youn8 people and students These actlvltle5 are managed by a varlety of leadershlp and sUPPOrt teams. Trustees Those who served durSn8 the year were: S Allan l Nundy R Edden Resi8ned l November 2023 W Wilsm Appointed l November 2023 K Lavery Appointed l November 2023 New trustees do not need to be members of the church con8regation but need to have the competences to enable them to contribute to the work of the Trustee Board. The individual requirements would, to sorne extent, depend on the balance and composition of the board at the time of a vacancy. Appolntments are made by the existing trustees actin8 on the ba515 of recommendatlons from their own number and the leadership of the church. Page 2
FREEDOM INMATIVES TRUST CHARtTY ACCOUNTS Trustees Annual Report l¢ontlnued) for the year ending 31 March 2023 The Trust's pollcy 15 to provide induction for any new Trustee. The Trustees meet when and 35 requlred to ensure timely decision making. Trustees are in regular communicatlon which is noted digitally. A8ents and Athiisers The Independent Examiner is Mrs S.J Sutcliffe FCCA of Torevell Dent Ltd. Chartered Certified Accountants of Bradford. The 8ank accounts of the Trust are maintained at CAF Bank Ltd. Publlc Benellt Statemenl Freedom Initiatlves Trust Is Involved with a wide range ol artivities In pursuance of its charltable alms. The trustees are always vlgilanl to ensure that the projects we undertake are In line with these objectives. The Trustees have paid due regard to the Charity Commission's guidance on the public benefit In deciding whlch artivltles the charity should undertake. The Trustees consider that these activlties. which are summarised below. provide benefit to the public. Revlew of Progre55 and Achlevements The Trust developed a maln projert called There is an Answer,. an online based evangelistic website and dlsclpleship programme aiming to connect people with a real world local church. The Trust invested In equlpment {5uch a5 video equipment and other electronic devices) to help this project which use5 vldeo as its primary engagement tool. The Trust changed its name from Freedom Church Trust to Freedom Initiatlves to acknowledge this shift in focus. The Trust took on a short term lease of an office and recordlng space. The Trust contlnued to look for ways to financlally support Christian mini5trie5 Wlthin the UK. The Trust contlnued to employ one full-tlme rnember of stsff and also regularty paid for the services of an external advisor and contributor. The Trust invested into the development and training of its Staff members by resourclng onllne learning programmes. Page 3
FREEDOM INITIATIVES TRUST CHARITY ACCOUNTS Trustees Annual Report (continued) for the year ending 31 March 2023 Review of Financlal Actlvlties and Affairs The total Sncome for the period wa5 £64,393 (2022 . £131.936) After deducting expenditure of £117,92212022 - £101.3271 the net expenditure 15 £53,529 12022 . net incoming resources £30,609) The Trust's cash-flowls funded in part by gift-aided tax that is recovered. Full details of the financial transaction5 are contained in the attached accounts. The net asset5 Of the charlty at 31 March 2023 were £318,04512022 . £371,574). Future Plans The Trust will continue to develop what Is now its core projert of establishing an evangellstlc video based website and discipleship pro8ramme I'There is an Answer'l to help those seeking Christian falth to connect wlth a local church. This will involve a small group of churches who are willing to pilot the programme after the Summer 2024 with a hope to open the project up to more churches acr055 the UK and internatlonally at the start of 2025. The videos produced for Yhere is an Answer, will come with an accompanyln8 printed book as well as an eBook for disciplers. Concurrently, the Trust will develop an online Bible school / training programme whlch will provlde more in depth Biblical teaching. This will be able to be purchased and used by anyone who wishe5 to do so separatley to the main project. The Trust will continue to look at opportunities to invest into people through tralning, mission and minlstry support where appropriate. Page 4
FREEDOM INITIATIVES TRUST CHARITY ACCOUNTS Trustees Annual Report (continued) for the year endlng 31 March 1023 Reserves Policv It Is the policy of the charity to maintain unrestrlcted funds, which are the free reserves of the charity, to cover administration and support costs, to meet contingencies and to create flexibility. The level of unrestricted funds varie5 throughout the year in response to demands made upon them and according to Income flows. Slgned on behalf of the trustees Stuart Allan Chalr Page S
FREEDOM INITIATIVES TRUST CHARrrY ACCOUNTS Statement of Trustee5 Responsibilltles for the year endlng 31 March 2023 The trustees are responsible for preparing the Report of the Trustees and the Financial Statements in accordance with applicable law and United Kingdom Accountin8 Standards. The law applicable to charities in England and Wales, the Charity Art 2011 and the provisions of the trust deed requires the trustee5 to prepare financial statements for each financlal year which give true and fair view of the state of affairs of the charity and of the incoming resource5 and application of resources, including the income and expenditure, of the charity for that period. In preparin8 those financial statements, the trustees are required to selert sultable accountin8 policies and then apply them conslstently,. make Judgements and estimates that are reasonable and prudent; state whether applicable accountin8 Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the Financial Statements.. prepare the Financial Statements on the going concern basis unless It Is inappropriate to presume that the charity will contlnue in busine5S. The trustee5 are responsible for kecping proper accountlng records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the Financial Statements comply with the Charities Act 2011 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence lor takin8 reasonable steps for the prevention and detection of fraud and other irregularities. Page 6
FREEDOM INrtlATWES TRUST CHARITY ACCOUNTS Independent Examlnerfs fleport to the TNstees of Freedom Inrtiatlves Trust for the year endlng 31 Marth 2023 I report on the accounts of the Trust for the period ending 31 Marth 2023. which are set out on pages 7 to 11. Responslbilities and basls of report As the charity's trustees you are responslble for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. I report in respect ol my examinatlori of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Dlrections given by the Charity Commission under section 14515)(bl of the Act. Independent Examinees Statemènt I have completed my examination. I confirm that no material matters have tome to My attention In connectlon with the examination glving me cause to belleve that In any materlal respect.. accountin8 records were not kept In respect of the Trust as required by 5ettlon 130 of the Act,. or the accounts do not accord with those records. or the accounts do not comply with the applicable requlrernents concernlng the form and content of accounts set out in the Charities (Accounts and Reports) Regulatlons 28 other than any requlrement that the accounts give a 'true and falr, view whlch is not matter considered as part of an Independent exarninatlon. I have no concerns and have come acros5 no other matters in connection with the examination to which attention should be drawn In thi5 report in order to enable a proper under5tandlng of the account5 to be reached. Mrs S. J. Sutcllffe FCCA Torevell Dent Umlted Chartered Certllled Accountants Centre of Excellente Hope Park Trevor Foster Way Bradford BD5 8HH Page 7
FREEDOM INITIATIVES TRusf CHARITY AccouKrs Statement of Financial Artlvltles for the year ending 31 March 2023 2023 Total Fund5 2022 Total Funds Unrestrirted Funds Re5trlrted Funds Notes Income from: Donation5 and Legacies Other income Investment Income 2,123 17,602 43.200 19,725 43.2(X) 1,468 115,921 15.981 34 1.468 Total 3.591 60,802 64,393 131,936 Expendlture on: Charitable Activities Other 76,251 9.303 32,368 108,619 9,303 95,343 5.984 Total expendlture 85,554 32,368 117,922 101,327 Net In¢ornel{expendlture) before ialns and losses 181.963) 28,434 153.529) 30,609 Transfer of funds Net movement In funds 181,9631 18,434 153.529) 30,609 Funds brought forward 371.574 371.574 340,965 Total fvnds Carrled forward 289,611 28,434 318,045 371,574 Page 8
FREEDOM INITIATIVES TRUST CHARITY ACCOUNTS Balance Sheet as at 3tst March 2023. 2023 Totsl Fund5 2022 TotJl Funds Unrestricted Funds Restrlcted Funds Notes Hxed Assets Tangible assets 124,041 124,041 124,041 124.041 124,041 124.041 Current Assets Debtors Cash at bank and in hand 228 167.631 2,847 25.587 3,075 193,218 252,452 167,859 28.434 196.293 252,452 Llabllltles Credltors.. Amounts falling due within one year 12.289) (2,289) 14,9191 Net Current Assets 165,570 28.434 194,004 247,533 Total Nrt Assets oi Llabllltles 289,611 28,434 318,IM5 371,574 The Funds of the Charlty Unrestricted Funds Restricted Income Funds 289,611 28,434 371,574 Totsl Charity Funds 318,045 371,574 The flnancial statements were approved by the Trustees on ......... and signed on their behalf bv:_ S Allan- Chair Page 9
FREEDOM INITIATIVES TRUST CHARrfY ACCOUNTS Note5 to the Auotsnts for the year endlnz 31 March 2023 Statement of Acc¢)untlng Policles a) Accounting policies These Financlal Statements are prepared on the going concern basis. There are no materSal uncertainties in respect of the company's ability to continue as a going concern. The Financlal Statements are prepared under the historical cost convention. on an accruals ba515, in accordance with the Companie5 Act 2006 and applicable accountin8 Standard5 in the U.K. b> Accountlng conventlon The Financial Statements have been prepared under the historical cost conventlon as modified by the revaluation of investments to market value. c) Investments Investments are stated at market value. Realised and unrealised galns or losses on Investments are reflected as a change in the permanent capital of the Company. d) Olrert Charltable Expendlture and Other Costs Direct charitable expenditure Includes all expenditure dirertly related to the objects of the charity. e) Flxed Assets Depreclètion is provided at the follow5n8 annual rates in order to wrlte off each asset over Its estimated useful Ilfe. Freehold Property Technical Service Equlpment Offlce Equipment Computer & Software No Depreclatlon 25% on cost 25% on c05t 33% on cost No depreciatlon 15 charged on Freehold Property as this Is malntained to a standard to ensure that It5 value is at least equal to the value at which it 15 disclosed in the Financial 5tatement5. Taxation The charity is exempt from tax on it5 charitable activities. 81 Fund Accounting Unrestricted funds can be used in accordan with the charitable objectives at the discretlon of the trustee5. Restrirted funds can only be used for particular restricted purposes within the objects of the Charity. Reslrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Page 10
FREEDOM INlATIvEs TRUST CHARITY ACCOUNTS Note5 to the Accounts for the year endlng 31 March 2023 2. Expendhure 2023 Total Funds 2022 Total Funds Unrestrlcted Restricted Funds Ftsnds Charitable artivStle5: Ministry support Charitable gifts Staff costs Premlses expenses Adminlstration costs EveDt5 and activitles 30,000 30.000 21,010 43,114 4,142 7.527 2,826 309 19,018 34,918 13,534 7,446 20.118 21,010 43.114 4.142 6.506 1.479 1,021 1,347 76,251 32,368 108,619 95,343 Professional fees Legal and professlonal charges Independent examination 7.653 1.650 7,653 1,650 4,334 1,650 9,303 9,303 5.984 3. Tanglble Fixed Assets Freehold Property Costs At l April 2022 Addition5 Disposals 124.041 At 31 March 2023 124,041 De reciatlon At l April 2022 Disposal Charge for perlod At 31 March 1023 Net Book Value At 31 March 2023 124,041 At 31 March 2022 124.041 Page 11
FREEDOM INMATIVES TRUST CHARITY ACCOUNTS Notes to the Accounts for the year ending 31 March 2023 Debtors and prepayments 2023 Total Funds 2022 Total Funds Unre5trlrted Funds Restrirted Funds Income tax recoverable 228 2,847 3.075 228 2,847 3,075 Credltors- due withln one year 2023 Total Funds 2022 Tolal Funds Unrestrlrted Funds Restrlcted Fund5 Accruals Other credltors 1.592 697 1,592 697 4,479 440 2,289 2.289 4.919 2023 Totsl 1022 Total Staff Costs Salaries and Wages 43,114 34.918 43,114 34,918 Transaction5 wlth trustees None of the Trustees received expenses during the perlod ending 31.03.2023 (31.03.2022- ENII}. Page 12
FREEDOM INfTIATIVES TRU CHARITY ACCOUNTS Detalled Statement of Flnantial Activitses for the year ending 31 March 2023 Unrestrlcted A¢count YE 31 March 2023 YE 31 March 2022 Incomln8 Re50ur¢e5: Members tlthes. offerlngs & Gift Aid tax reclaimed 2.123 131,902 Interest received 1.468 3.591 34 131,936 Resources Expended: Relmbursed expense5 Salaries and national Insurance House & storage costs Insurances Catering Postage. statlonery and printing Internet and web-site costs Bookkeeping Legal and professlonal Bank charges Telephone and Internet Evangelism Youth and childrens, work Trainlng Miscellaneous expenses Team Fund 1,277 43,114 2,021 4,544 34,918 10.930 1,095 1.369 684 5,900 5,105 879 304 1.220 12.065 309 821 1.672 494 699 5,735 1.650 7.653 72 715 21,010 202 85,554 81,309 Net (expendlture)hncome (81,963) 49.627 Page 13
FREEDOM INITIATIVE5 TRUST CHARfTY ACCOUNTS Detalled Statement of Financlal Artl¥ltles for the year ending 31 March 2023 Restrirted Account YE 31 March 2023 YE 31 March 2022 Incoming Resources: Earmarked gifts 60,802 60,802 Resources Expended: Earmarked gifts Internet and web-slte costs Evangelisrn Trainlng Miscellaneou5 expen5e5 19,018 1.021 230 1.095 22 32,368 19.018 Net Incamel(expenditure) 28,434 119.0181 Page 14