*ity Number 1191043 FREEDOM INrtlATIVES TRUST CHARITY ACCOUNTS Report and Accounts for the year ending 31 March 2024
FREEDOM INITIATIVES TRusf CHARITY ACCOUNT5 Report •nd keounts for the year endlng 31 March 2024 Contents Page Trust Information Trustees Report Trustees ResponslbllltSes Independent Examlnerfs Report Slatement of Flnanc5al Actlvltles Balance Sheet Notes to the Accounts 10-12 Detalled Statement of Financial Activitie5 Unrestricted Account Restricted Account 13 14
FREEDOM INITIATIVES TRUST CHARITY ACCOUNTS Trust Inforniètlon for the year endlng 31 March X•24 Charlty Number 1191043 Trumtts S Alan (Chalr) INun R Edden W Wil¥on K La4vy Re51gned l November 2023 Appolnted l November 2023 Appointed l November 2023 Address io Litton Way Leeds LS14 20L Indep•ndenl Examlner Samantha J Sutdrfle F.C.C.A Torevell Dent Limited Centre of Extellence Hope Park Trevor Foster Way Bradford BD58HH Page I
FREEDOM INITIATIVES TRUST CHARftY AccouKrs Trustees Annual Report for the year endin8 31 March 2024 The Trustee5 present their report and financial Statements for the period ended 31 March 2024. Oblectlves, Or8ani5ation and Actlvltles Freedom Inifiative Trust was constrtuted on the 27th August 2020 arml is a Reglstered Charity numbered 1191043. Previously to the 4th August 2023 the Trusts name was Freedom Church Trust The admlnlstratlve address Is 10 Litton Way. Leeds LS14 2DL. The Objectlves of the Chlrlty are: al the advancement of the Chrlstian falth bl the promotion of Christlan prlnciples cl the relief of the poor, the slck or others in material need dl social welfare by means of recreation or other leisure pur5UitS The Trust employs one mernber of full-time stsff and contracts an external advisorlcontributor, both of whom vmrk on the development of the Yhere Is an 3nswer.net' project. Actlvftles IKlude: the recordlng of a range of wdeos descrlblng varfous Indlvlduals, Journeys throu8h crlsls to Christlan falth the development of a website to host the above vldeos wlth guldance on discipleshlp and how to connect with local churches Networkin8 and planning future developments to support local churches wlth outreach The Indlvlduals engaged In the above actlvltles are supported by ongolng meetlng5 wlth the trustees. offerln8 feedback and guidance. Trustee5 Those who served durlng the year were: S Alan l Nunty R Edden Resigned l November 2023 W Wilson Appointed l November 2023 K Lavery Appointed l November 2023 New trustees need to have the competences to enable them to contribute to the work of the Trustee Board. The indivldual requirement5 would. to some extent, depend on the balance and composltion of the board at the time of a vacarKv, Appolntments are made by the eStIng trustees acting on the basis of recommendations from their own number. Page 2
FREEDOM INITIATIVES TRUST CHARITY ACCOUNT5 Trustoe5 Annual Report Icontinued) for the year endln8 31 M•r¢h 2024 The Trust's pollcy is to provttle indurtron for any new Trustee. The Trustees meet when and as requlred to eTr5ure limety decision maklng. Trustees are In regular communication whlch Is noted dIEally. Agents and Adser9 The Independent Examlnerls Mrs S.J 5utcliffe FCCA of Torevell Dent Ltd. Chartered Certified Accountants of 8radford. The Bank accounts of the Trust are malntalned at CAF Bank Ltd. Publ1¢ Benefft Statement Freedom Initiatives Tnjst Is invofved wlth a wlde ran8e of actfvbtles In pursuance of It5 charttable alm5, The trustees are alway5 vigllant to ensure that the projects we undertake are In Ilne wlth these obbectives. The Trustee5 have paid due regard to the Charity Comm1551on'5 guidanre on the publlc benefft In decldlng whbch artlvllles the charlty slwld undertake. The Trnstees consider that these actlvltles. whkh are summarlsed below. provide benefrt to thè publlc. Revlew ol Progress and Achlevements The Trust developed two prolects In the last financial year. There is an Answer. an online-based evan8elSstlc webslte and a dlsclpleshlp program to connect people with a real-world local church where they may be discipled by trained members of the Church. Thls training comes f rom the other project 'Dlsclple Makers. which alms to equip church lalty to mentor and dlsclple new Chrlstlan bellevers. Thls project Is also avallable to purchase Separately from There15 an Answer". whlch would requlfe a monthly Investment from Indlvldual church communltles. The Trust took on a short term lease of an office and recordin8 space. The Trust contlnued to look for ways lo financially supp)rt Chrlstlan mlnlstrles wlthln the UK. The Trust contlnued to employ one fulS-time member of staff and a150 regularly paid tor the 5efvlces of an external advisor and contributor. The Trust invested into the development and trainin8 of its Staff members by resourclng onllne leamlng programmes. Pa8e 3
FREEDOM INITIATIVES TRUST CHARrrY ACCOUNTS Trustees Annual Report (contlnuedl for the year ending 31 MaTch 2024 Review of Financial Activitie5 and Affairs The total income for the period was £4,59812023 . £64,393) After deducting expendlture of £88,69812023 . £117.9221 the net expenditure is £84,1(NJ12023 . 53,5291 The Tru5t'5 cash-flow is funded in part by gift-aided tax that is recovered. Full details of the flnanclal transactlons are contained in the attached accounts. The net assets of the charlty at 31 March 2024 were £233.945 {2023 . £318,045). Future Plans The Trust will contlnue to develop what is now its core project of an evangelistlc video based website for 'There Is an Answer, and "Disciple Makers" The alm belng to help those seeking Christlan falth to connect wlth a local church. The 55 an Answer is presently belng tralled wFth two local churches. The trlal will finlsh around the end of March 2025 after which we will assess the program before we launch nationwide/worldwlde. "Dlsclple Makers" Is now fully avallable to purchase online. The Trust wlll contlnue to monltor the programme and determine whether changes need to be made. The Trust wlll be8ln development on an online Blble schooll training programme which will provide more In depth Blbllcal teachin8. This will be able to be purchased and used by anyone who wishe5 to do 50. Thi5 wlll Include creating and publishing online videos and other teaching material. The Trust will contlnue to look at opportunities to invest into people throu8h trainin8, mission and mlnlstry support where appropriate. PaBe 4
FREEDOM INITIATIVES TRUST CHARITY ACCOUNTS Trustees Annual Report {continued} lor the year endlng 31 Marth 2024 ReseNes Pollcy Itls the policy of the charity to maintain unrestricted funds, which are the free resee5 of the charity, to cover administration and sUPPOrt costs, to meet contingencies and to create flexibility. The level of unrestrlcted funds varies throughout the year In response to demands made upon them and accordin8 to Income flows. Slgned on behalf of the trustees Stuart Allan 31st Jan 2025 Page 5
FREEDOM INITIATIVES TRUST CHARrtY ACCOUNTS Statement of Trustees Responsibilities for the year endlng 31 March 2024 The trustees are responsible for preparing the Report of the Trustees and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards. The law applScable to charities in England and Wales. the Charity Act 2011 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year whlch glve a true and fair view of the state of affairs of the charity and of the incoming resources and appllcation of resources, Including the Income and expendlture. of the chèrlty for that perlod. In preparing those flnanclal statements, the trustees are required to select sultable accounting policles and then apply them con55stently' makejud8emeDts and e5tirnates that are reasonable and prudent: state whether applicable accounting standards and statements of recommended wactlce have been followed, subjert to any materlal departures dlsclosed and explalned In the FlnancSal Statements: prepare the Financial Statements on the 8olng concern basls unless It Is Inapproprlate to presume that the charity will continue In business. The trustees are responsible for keeping proper accountlng record5 whlch dlsclose with reasonable accuracy at any time the financial positlon of the charity and to enable them to ensure that the Flnancial Statement5 comply with the Charitie5 Act 2011 and the provisions of the trust deed. They are also responslble for safeguardlng the assets of the charity and hence for taklng reasonable Steps for the prevention and detection of fraud and other Irregutayltles. Page 6
FREEDOM INITIATIVES TRUST CHARrrY ACCOUNTS Independent Examlnerfs Report to the Tntstees of Freedom Inldaii¥es Trust for the year endlng 31 March 2024 I report on the accounts of the Trust forihe per*)d ending 31 March 2024. wh¢ch are set out on pages 8 to 12. Responslbllhles and ba515 of report As the charitys truslee5 you are responsible for the preparation of the account5 In accordance with the requirements of the Charities Act 2011. I report In respect of my examlnatlon of the Trust'5 accounts carrled out under Section 145 of the 2011 Act arKI in carryin8 out my examination I have followed all the applicable Directions 8lven by the Charlty Commlsslon under sectlon 14515llbl of the Act. Indèp•ndent Examlnees Statement I have compleied my examlnation. I conflrm that no fflaterlal matters have come to my attentlon In connecllon wlth the examlnatlon 8Ing me cause to believe that in any Material respecl: accounting records were kept In respert of the Trust as requlred by sethlon 130 of the Act; or the accounts do not accord wlth those records: or the accounts do not comply with the applloble requirements concemin8 the forni and content of accounts set out In the Charities (Accounts •nd Reportsl Regulations 2C¥)8 other than any requlrement that the accounts gfve a 'true and falr, vlew whlch Is not a mattef con51dered as part of an independent examlnation. I have no concerns jnd have come across no other matter5 in connection with the examlnatlon to which attention shoukl be drawn In thSs report In order to enable a proper understanding of the accounts to be reached. Mrs S. J. Sutclifte FCCA Torevell Dent Umlted Chartered Certmled Accountants Centre of Excellence Hope Park Trevor Foslerway Bradford BD5 8HH Page 7
FREEDOM INMATIVES TRUST CHARITY AccouKrs Statement ol Flnaftdal Attlvrties forthe year endlng 31 March 2024 2024 Total Funds 2023 Totjl Funds Unrestrlcted Restrlrted Funds Funds Income from: Donations and Legacie5 Other Income Investment Income 13 595 3.loj 19,725 43,2LKI 1.468 595 3.1 Total 4.598 4.598 64.393 Expendlturn on: Charitablè Artivities Other 86,074 2.624 86,074 2,624 108,619 9.303 Total expendlturn 88,698 N•t Incomellexpendlturel ljeft>re 8•lns •nd losses I84.1) 184.1(M)I 153,529 Transfer of funds Net M0Ment In funds 184,1001 153,5291 Funds brought forward 289,611 28.434 318.045 371.574 Totsl fvnds rrIed forward 205511 28,434 233,945 318,045 Page 8
FREEDOM INlATIvEs TRUST CHARITY AccoufiTS Balance Sheet as at 31st Marth 2024. 2024 Total Funds 2023 Totsl Funds Unyestrlcled Funds Restrfcted Funds Notrs Flxed Assets Tangible assets 124,041 124,041 124,041 124,041 124.041 124,041 Current Assets Debtor5 Cash at bank and In hand 228 2,847 25,587 3,075 110,621 3,075 193,218 85,262 28,434 113,696 196,293 U•bllltles Credllors: Amounts fallln8 due wlthln one year 13.7921 13.7921 12,2891 N•t Current Amets 81.470 Z&434 109,904 194JX>4 Totsl N•1 Asset$ or U•blMilei 205,511 28,434 233,945 318.045 The Funds of the Ch•rlty Unrestrlrted Funds Restrfcted Income Funds 205,511 28,434 289,611 28.434 Totsl Ch•rlty Fund5 233.945 318,045 The financial statements were approved bythe Trustees on.-....... aftd slgned on thelr behalf by-" 31st Jan 2025 S Allan . Chalr Page 9
FREEDOM INMATIVES TRUST CHARITY ACCOUNTS Notes to the Atcounts lor the year endlng 31 March 2024 Statement of A<¢ountln8 Pondes al A¢counting policie5 These Flnanclal Statements are prepared on the golng conrn ba515. There are no material uncertaintles In respert of the tompany's abllity to contlnue as a golng concern. The Financial Statements are Prepared under the historical cost convention, on an accruals basis. Sn accordance wlth the Companies Act 2006 and applicable attountSn8 Standards in the U.K. bl A¢¢ountln8 ¢onventlon The Financial Statements have been prepared under the hlstorical cost conventlon as modrfied by the revaluation of investments lo market value. cl Investments Investments are stated at market value. Reallsed and unreallsed galns or losses on Investments are reflected as a change In the permanent capitsl of the Company. d) Dlrect Ch•rftable Expendllure •nd Other Costs Dlrert charitable expenditure includes all expenditure dlrectly related to the oblects of the charlty. el Flxed Assets Depreciation15 plovkled at the followln8 annual rates In order to wrlte off each asset over Ils estlmed usefvl Ilfe. Freehold Property Technical Service Equipment Offke Equipment Computer & Software No Depreciation 25% on cost 25% on cost - 33% on cost No depreclatlon Is charged on Freehold Property as this 15 maintained to a standard to ensure th its value is at least equal to the value at whlch It Is dlsc105ed in ihe Financlal Statements. T•xatlon The charityls exempt from lax on its charltable activitles. 81 Fund A¢¢ounlkn8 Unrestricted funds can be used in atcordance wlth the charltable objertSves at the d15cretlon of the trustees. Re5tritted fvnds can only be used for particular restrlcied purwses wlthin the objects of the tharty. Restrlctions arise when specrfied by the donor or when funds are raised for particular restricted purposes. Page 10
FREEDOM INITIATIVES TRusf CHARITY ACCOUNTS Notes to the Atcounts lor the year eTrdln8 31 Marth 2024 2. Expenditure 2024 Total Funds 2023 Totsl Funds Ufirestrk Restrfrted Funds Funds charitable actmtles: Minlstry support Charltable 8ifts Staff costs Premlses expenses Admlnlstratlon costs Events and activlties 21.010 43,114 4,142 7,527 2.826 40,542 4,195 4.011 37,326 40,542 4.195 4,011 37.326 86.074 86,074 108,619 Prolesslonal fees Legal and professional char8es Independent examlnation 824 824 7,653 1,650 2.624 2,624 9,303 3. Tan8lble Flxed Assets Freehold osts At l April 2023 Addltlons DIsp05als 124.041 At 31 Marth 2024 124,041 eclatlon At l Aprll 2023 D15P05al Charge for perlod At 31 March 2024 Net Book Value At 31 Maffh 2024 124.041 At 31 Mar(h 2024 124J>41 Page 11
FREEDOM INITIATIVES TRUST CHARITY ACCOUNTS Notes lo the Accounts for the year ending 31 Marth 2024 Debtovs and prepayments 2024 Total 2023 Total Funds Vnrestrlcted Restrfrted Funds Funds Income tax recoverable 228 2,847 3,075 3.075 228 2,847 3,075 3,075 Cr•dltors. due one year 2024 Totsl Funds 2023 Tot•1 Funds Unre5trkied Restrfrted Funds Funds Accruals Other creditor5 3,095 697 3,095 697 1,592 697 a.792 3,792 2,289 2024 Total 2023 Tot•1 Staff C051s Salarles and Wa8es 40,542 43.114 40,542 43,114 Tranmcllons wlth trustees None of the Trustees received expenses durin8 the perbod endire 31.03.2024131.03.2023 - £Nill. Page 12
FREEDOM INtnATIVES TRUST CHARITY ACCour5 Detalled Statement of Flnanclal A¢ll¥ltleJ forthe yearending 31 Marth 2024 Unstr1ded Account YE 31 Marth 2024 YE 31 March 2023 IncomlnB Resources: Members tlthes, offerlngs & Glft Ald tax reclalmed Other Interest rÈcelved 13 2.123 595 3.ILKI 498 1.468 3,591 Rey)Ue5 Empended: Relmbursed expenses Salarles and nallonal Insurance House & storage costs Insurance5 Postage. slatlonery and prlntln8 Internet ènd web-site costs 8ookkeepln8 1,277 43,114 2,021 1.406 699 5,735 1.650 410.542 2,877 511 iio 3,841 Fl I Legal and profe551onal Bank charges Telephone and Internet Evangelism Youth and childrens, work Tralnln8 Mlscellaneou5 expenses Tèam Fund 823 7.653 72 715 21,010 36,250 iio 202 85,554 Nrt •xpendlture I84,ICl 181.963? Page 13
FREEDOM INITIATIVES TRUST CHARITY ACCOUNTS Detalled Statement ol Flnandal Actlvldes for the year ending JI March 2024 Restrlrted Account YE 31 March 2024 YE 31 Marth 2023 In<omlng Resources: Eamiarked 8ifts 60,802 60,802 Resources Empended: Eam)arked gifts Internet and web-slte costs Evan8ellsm Trainin8 Miscellaneous expenses 30,C 1,021 230 1,095 22 3Z,368 Net Incorne 28.4J4 Pa8e 14