REGISTERED CHARITY NUMBER.. SC033414 of Ihe Trustees and Unaudited Financial StatenIs lor tt* Penod 1 Janua 2024 10 31 Mcirch 2025 Freedom Challe e Trust M Squared Accounlants Bank House Sp.afortl) £treet kiaserbuigh Abeideensl)Iie AB43 988
Freèdom Challen e Trust Contents ol Ihe Financial Statements for Ilie PeiiLKI 1 Januai 2024 10 31 March 2025 Page Report of the Truslees Independent Examiner's Report Stalpmenl of Financial ActNilies Balance Sheet Notes lo Ihe Financial Statements 6 10 10 Detailed Slalement of Financial Aiaivities
Freedom Chiilleii e Trust rt of the Trustees for the PerKxI 1 Janua 2024 to 31 Mriich 2025 The truste88 present Iheir report vthh the finanual s181ements of the Lharrty foi the perioil 1 January 2024 10 31 Maich 2025. The trustee5 have ai)pled the piovisions of AccounlirMJ iiiid R8POrtirKJ by Charrt. Slatement of Recommended Practice applicable lo charrttes preparing their accounts In acc(xdance wth the Financial Reponing stalard applicable in Ihe UK and RepubliL of Ifeland (FRS 102> (vllt•Llive 1 Jaiiuwy 20191. OBJECTIVES AND ACTIVITIES Signlllcanl actfvltles DurirvJ the past year the Irusl has conlinued to hold PropTty and assets of the charrty ACHIEVEMENTS AND PERFORMANCE Charitable activilies Our purpose, as recorded in or Iiust deed. Is to ielKrye the sullering aThJ dislress of the people who have a lrfe controllirNJ problem. by Ihe provisw)n of surtable tac.llrts where they can overcoiT these problems and hav& posrtNe chde of Iifpstyle th1olh %iippDrt of a pii)gram h3sed nri Christian piiiiciples atKI any other such charilable puiposes as shall lurlhei Ihe atlainmerrt of tho abuve. STRUCTURE. GOVERNANCE AND IAANAGEMENT Gov•rning documonl The chaiily Is conlroll8d by rts governing d[unnI. a deed of tfusl and L()iislilutes aTI unincorporated chaflty REFERENCE AND ADPJINISTRATIVE DETAILS R•gisteied Charity nurnb•r SC03J414 Prlncipal addrn8• Sunnybrae Wo(Klhead Fyvie Turrrff Aberdeenshire AB53 8LS Indopendpiil F M.'iiniiio. I M Squared Accountanls Bank Hwse Sèafortki Slreat Fraserburgh Abefdeenshilo AB43 9BB Pag8 1
Free(Joni Challen e Trust F48 orl of Trus18 foi Ihe Peri(Kl 1 Jaiiua 2024 10 31 Maich 2025 Approved by order of l)oard of trust883 on . half bv /1 8nd signed on its Page 2
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endL)nl Exaiiiinei's Re
(Kii Challen
e Trust
to the Trustees of
I report on Ihe accounls for the penod 1 January 2024 to 31 March 2025 set out on p&Jes lour lo
ten
Resp•ctiv• rnsponslblllties ol trustees and oxamlner
The charity's tfustees are iesKK)n51bk for t1 prepaiatinii nf .oljn18 In accordance wrth Ihp
terms of Il CharrtM3s Trustee Investmenl {ScotlarKI) Acl 2005 and Ihe C.harilies AGI:()iJr)ts
{ScotlaThJ) Regulalions 20CE (as amended) The chairty's liteeS considei that Ihe aijdil
Tequiiemeiil ol F
Fieèdom Challer) e Trust Statement of Financial Aclivilies for Ihe Period 1 Janua 2024 to 31 March 2025 1.124 Year Ended 31.12 23 Tolal ld5 31325 T81 lunds UnrestiKled lund ReSIred lund Notes INCOME AND ENDOWMENTS FROM Donalion5 aiKI legacie5 9.715 9.715 363 Investment income 84.383 84,383 89,750 Total 94.098 94.098 90,113 EXPENDITURE ON R¢bising furKIs 4,947 Charitable activities 8enaiah 46.822 46,822 28,226 Total 46.822 46,822 33,173 NET INCOME 47.276 47,276 56.940 RECONCILIATION OF FUNOS Tolal fLJnds brought forward 1.453,203 1.453,203 1.396,263 TOTAL FUNDS CARRIED FORWARD 1.500.479 1.500.479 1,453,203 The notes form part of these financial slatements Page 4
31.325 31.1223. FIXED 1,17r.506 1.179ffk5 CURREMT A88CTS 08.620 2J7JCO 94.240 323.926 274,508 ¢RetyTORJ (1.0121 i {1,ts101 IIEf CURREN7 A8iET3 .Q14 222,914 273,578 TOT AL A3SEf3 LESS CURIIEIIT 1.5CN).479 1,500,470 1,45J2QJ 1,X#),479, . 1.5r4,479 1.45J.20J VUND• IJC4)A79 I.4203.. """ Tor FUMD8 I.JW479 1.4SJ20J' .
Freedom Challen e TFUSt Notes to the Financial Stalement5 foi the Peri(Kl 1 Januai 2024 10 31 March 2 ACCOUNTING POLICIES Ba3is of preparSng the financlal ststements The financial slalempnt8 of the chanty. which is a public nefIt entity utKJef FRS 102. have bpe.n prepared in accofdance wrth Ihe Charrties SORP (FRS 102) 'Accounting and Reporting by Charities.. Staternenl of Recommended Praclice applicable lo charrties preparing their accoijnts In accordance wrth the Financial Reporting Standard applicable In the UK and Republic ol Ireland (F=RS 102> leffeclive l Januaiy 2019).. Financial Reporting Standard 102 'The Financial Reporting Starmdard applicable In the UK and Republic of Ireland. and the Charities arKI Trustee InveBlment {Scotland) Acl 2005 The financial statemenls have been prepared Vle[ the historical cosl convenlion Income All Ilicon is fecognBed In the Statement of Financial ActivrtS once the charrty has entitlem8nl to the turKls, it is probable Ihat the Income will be received and the amount can be measured reliably. Expondlture Liabililip% i?re recognised as experKliture as soon as there is a legal or construdNe obligation committitvJ the charrty to that expeThJrture. il Is p¥obable Ihat a transfer of economic benefrts will be iequired in settlement and tho amount of the oblMJation can be measufed reliably Expenditure Is accounted lor on an accrua15 basis and has been classified under headiThJs thal aggipgate all cost related lo the category Where costs cannol be directly attributed lo parlicular hea(Iings Ihey have been allocated lo aclivilies on a basis consislent wilh the usa of resources. Tangible fixed assets r)E)PIPC.ii?Iion Is provFdtYl at ttrE following annual lates In ordef lo varte off each asset over Its estitndted useful life. Motor vehicles 25°h on reduciro balan Taxation rhe charity Is exempl fwom tax on rfs charitable activi15 Fund accounting Uniestiicled funds can b8 us8d In accordan wth the charrtable obiectives at the discretion of the truslee.s Restricted funds can only be used for particular restncted purposes wrthin the obpcts of the charity. Reslriclion5 arise when 5Cir by the donor or when funds are raised for pailiculaf resliicted purposes. Further explanalion of the nature and putpose of each fund Is Incle In thft te5 to the financial statements. Page 6 continued ..
Freedom Challen e Trust Notes to the Financial Statements - continued for the Pefl(xJ l Janua 2024 10 31 March 2025 INVESTMENT INCOME Peri(xl 1 1 24 Year Ended 31 1223 313.25 Rents receNed Bank inteiesl 80,313 4.070 89,750 84.383 TRUSTEES. REMUNERATION AND BENEFITS Tre were no trustees, remunefation or other benefrts for the pericKI ended 31 March 2025 nor fof the year erMJed 31 December 2023 TrusteeB' oxpen80s There were no Irtsslees. expenses paKJ for the pe¥i(MJ ended 31 March 2025 nor for the yeai eIed 31 December 202J COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES unlestred lund Reslncled lund Total lurids INCOl4lE AND ENDOWPAENTS FROM Donations and legacies 363 363 Investm8nt Income 89,750 89,750 Total 90.113 90.113 EXPENDITURE ON RaisiThJ funds 4.947 4,947 Charltable activitles Benaiah 28.226 28,226 Total 33.173 33,173 NET INCOhlE Transfors between funds 56.940 244,199 56,940 (244 199) Net movernent in funds 301.139 (244,199) 56,940 RECONCILIATION OF FUNDS Tolal funds brought forward 1.152,t 244.199 1.3),263 Page 7 cuiitiiiued
Freedom Challene Trusl Notes to the Financtal Statements - continufftl for Ihe Peii(Kl l Jariijar 2024 10 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued unle.str1d Iiii)d 14e%ltiaed luiid To131 hJiids TOTAL FUNDS CARRIED FORWARD 1.453.203 1.453,203 TANGIBLE FIXED ASSETS FreeId pfrwerty Molor vr*hideB T()tals COST At 1 January 2024 AdrtnS 1.125.171 14.956 126.751 1,251,922 14.956 Al 31 March 2025 1.140.127 126,751 1.266.878 DEPRECIATION At 1 January 2024 Charge for year 72,297 17.016 72,297 17,016 At 31 March 2025 89,313 89,313 NET BOOK VALUE Al J1 Maich 2025 1.140.127 37,438 1,177,565 Al 31 Dmber 2023 1 125.171 54,454 1,179,625 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31 3.25 31 12.23 Olher debtors 86,620 94,240 Page 8 continued...
Freedom Challen e Trust Notes to the Financial Statements - contin(1 for Ihe Peri 1 Janua 2024 10 31 March 2025 CREDITORS: APAOUNTS FALLING DUE WITH114 ONE YEAR 31.3.25 31 1223 Other creditOTS 1.012 1.010 MOVEMENT IN FUNDS Ne.1 nmwewnenl Al A11 1 24 iii kin(15 Unrostrlcted funds General furKI 1.453,203 47.276 1,500,479 TOTAL FUNDS 1.453.203 47,276 1.500,479 Net movement In furmjs Included In Ihe above are as follows. Iric.oniin9 ies(wries expLJnded Unrestrictèd lunds Geneial fuTKI 94.098 (46,822) 47,276 TOTAL FUNDS 94,098 (46.822) 47,276 Comparatives for movement In funds Nel m(Nemenl ifi liind TianslerB belween lijrxls Al 31.12.2J Unrestrlcled funds General fund 1.152. 56,940 244.199 1,453,203 Restricted funds Buy Benaiah 244.199 (244,199) TOTAL FUNDS 1.3.2.63 56,940 1.453.203 Page 9 continued.
Freedom Challen e Trusl Notes to the Financial Slatement5 - continued IOT the Peri(KJ 1 Jciiiuai 2024 10 31 Maicl) 2025 MOVEMENT IN FUNDS - contfjnued Comparative net movemenl In fund5, included in Ihe above are as follows. Incoming r(bsourrE& Resources e¥w.Thled )vemenl In funds Unrestrlctod funds Jeneral fund 90,113 (33,173) 56,940 TOTAL FUNDS 90.113 {.33.173) 56.940 RELATED PARTY DISCLOSURES Theie related party transactions fcv Ihe [lOd ended 31 March 2025. Page 10
Fieedom Challen e Trust Detailed Statemenl of Financial ActrtS for the Peri(Kl l Januai 2024 to 31 March 2025 Perifxl 1.1.24 L.(Ll- lo 31.3.25 31.1222 INCOME AND ENDOWMENTS Donatlons and legacie8 Donations 9,715 363 Invosknent income Rents reived Bank 1ntere.sl 80,313 4.070 89,750 84.383 89,750 Total incomlng r•8ourc•s 94.098 90,113 EXPENDITURE Ralslng donatlons and legacles Fundraising costs 2,571 Other trading activltles Bad debts 2,376 Charltable acllvltles s1r1e5 Donations Depreciation of langible fixed assels Loss on sale of langible fixed assels 2.937 22.541 17.016 1,101 5,594 1.412 42.494 26,258 Support costs Flnance Bank charges 270 216 Inlorniation technology Repairs and ienewals 97 Other Insurance 585 Governance costs Accountancy and legal lees 3,954 1,070 ThB page does nol form part of the stalutory financial slatemenls Page11
Fieedom Challen e Trust Detail1 Slalement of Financial ActNIti8s foi Ihe Peri(Kl 1 Jaiiua 2U24 to 31 March 2025 Petl(Kl 1 1.24 L ricLL'LI 31.12.23 31.325 Total resoiirc83 expended 46,822 33,173 Not income 47,276 56,940 This page does nol f(Km part of the statutory financial statements Page 12