REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
FOR |
FREEDOM 2 LTD |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
FOR |
FREEDOM 2 LTD |
FREEDOM 2 LTD |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
Page |
Report of the Trustees | 1 | to | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 13 |
FREEDOM 2 LTD (REGISTERED NUMBER: 10576296) |
REPORT OF THE TRUSTEES |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 February 2024 to 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The purposes of the charitable company are: |
1. The advancement of education for the public benefit by supporting schools in East London and surrounding boroughs to understand, recognise and report potential cases of child sexual exploitation (CSE) and child trafficking. |
2. To advance in life and relieve the needs of young people who are potentially at risk of or are survivors of child sexual exploitation and child trafficking. |
Significant activities |
The provision of a self-development program and creative art workshops focusing on topics such as self-worth, healthy relationship, awareness around the dangers of social media and goals for the future. |
Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. |
Public benefit |
The trustees have had regard to the guidance issued by the Charity Commission on public benefit and are in agreement that the charitable company's objectives and activities are in the public benefit. |
Volunteers |
The charitable company relies heavily on its volunteers to help run sessions, which are of benefit to the public. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The Founder of Freedom 2 Ltd has created a new programme this year called Freedom 2 Travel Safely Project. It was written in response to the growing problem of harassment for girls on transport. It was launched in April 2024. Due to lack of funding opportunities the charity ceased operations on 31 March 2025. |
FREEDOM 2 LTD (REGISTERED NUMBER: 10576296) |
REPORT OF THE TRUSTEES |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
FINANCIAL REVIEW |
Financial position |
Total income for the 14-month period amounted to £13,564 (2024: £7,689) and total expenditure amounted to £13,163 (2024: £8,133). Net income for the 14-,,month period amounted to £401 compared to net expenditure of £444 in the previous year. |
Total funds at 31 March 2025 amounted to a deficit of £1,708 (At 31 January 2024: deficit of £2,109). This comprises a deficit on general reserves of £1,708 and a restricted fund balance of £nil. |
The general fund deficit related to a loan made to the charity by the Chief Operating Officer and founder to support its work. |
Reserves policy |
The charitable company has not yet generated reserves and tried to generate funds utilising to undertake its charitable purposes and expand its operations. |
The Trustees calculated an appropriate reserves range for the charitable company of £500, which will be revised as the charity grows and liabilities arise. The charity sought to generate sufficient reserves to support six months expenditure to provide stability to support the charitable operations going forward. |
On cessation of activities, the only creditor was the balance of the loan made to the charity by the Chief Operating Officer, which will not be pursued. |
Going concern |
The charitable company ceased operations on 31 March 2025. The charitable company was supported by a loan from the Chief Operating Officer for which repayment will not be pursued. |
Funds in deficit |
The general fund of the charitable company was in deficit at cessation by £1,708 (2024: £2,401) as the charitable company was supported by a loan from the Chief Operating Officer. |
FUTURE PLANS |
The founder and trustees of FREEDOM 2 have decided to bring FREEDOM 2 to a close because it has proved difficult more recently to receive adequate funding to run a sustainable charity and to build a team other than the founder and volunteers. We celebrated 8 years in January and have impacted many teenage girls lives and are happy to end in a positive way in 2025. |
Cessation of activities took place on 31 March 2025. The directors will apply for voluntary striking-off at Companies House, and will subsequently apply for removal from the register of charities with the Charity Commission. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, its articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
FREEDOM 2 LTD (REGISTERED NUMBER: 10576296) |
REPORT OF THE TRUSTEES |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Recruitment and appointment of new trustees |
The charitable company would seek to appoint new trustees who support the objectives of the company and have relevant expertise which may help the charitable company to achieve its aims. |
The charitable company may by ordinary resolution: |
(1) appoint a person who is willing to act to be a trustee; and |
(2) determine the rotation in which additional trustees are to retire. |
No person other than a trustee retiring by rotation may be appointed a trustee at any general meeting unless: |
(1) he or she is recommended for re-election by the trustees; or |
(2) not less than fourteen nor more than thirty-five clear days before the date of the meeting, the charity is given a notice that: |
(a) is signed by a member entitled to vote at the meeting; |
(b) states the member's intention to propose the appointment of a person as a trustee |
(c) contains the details that, if the person were to be appointed, the charity would have to file at Companies House; and |
(d) is signed by the person who is to be proposed to show his or her willingness to be appointed. |
Organisational structure |
The charitable company is governed and overseen by its board of Trustees, who are also the directors of the charitable company. |
Day-to-day management of the charity is delegated to the Chief Operating Officer, Mrs Melanie Manning, who is a director of the company but who is not a Trustee. |
Key management remuneration |
The total amount of key management remuneration paid during the year amounted to £nil (2023: £nil). |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
FREEDOM 2 LTD (REGISTERED NUMBER: 10576296) |
REPORT OF THE TRUSTEES |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
Trustees |
Company Director - Chief Operating Officer |
Mrs M J Manning |
Approved by order of the board of trustees on |
FREEDOM 2 LTD |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
Period |
1.2.24 |
to | Year Ended |
31.3.25 | 31.1.24 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | ( |
) | ( |
) | ( |
) |
TOTAL FUNDS CARRIED FORWARD | ( |
) | ( |
) | (2,109 | ) |
FREEDOM 2 LTD (REGISTERED NUMBER: 10576296) |
BALANCE SHEET |
31 MARCH 2025 |
2025 | 2024 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
( |
) |
NET ASSETS | ( |
) | ( |
) | ( |
) |
FUNDS | 6 |
Unrestricted funds | ( |
) | (2,401 | ) |
Restricted funds | 292 |
TOTAL FUNDS | ( |
) | (2,109 | ) |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025. |
The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
FREEDOM 2 LTD (REGISTERED NUMBER: 10576296) |
BALANCE SHEET - continued |
31 MARCH 2025 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
FREEDOM 2 LTD |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Government grants are recognised in the Statement of Financial Activities in an appropriate manner that matches them with the expenditure towards which they are intended to contribute. |
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the Statement of Financial Activities. Grants towards general activities of the charity over a specific period are recognised in the Statement of Financial Activities over that period. |
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the Statement of Financial Activities over the useful life of the asset concerned. |
All grants in the Statement of Financial Activities are recognised when all conditions for receipt have been complied with. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Irrecoverable VAT is included within the category of expenditure to which it relates. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
FREEDOM 2 LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
1. | ACCOUNTING POLICIES - continued |
Fund accounting |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
The Freedom 2 Create programme is a 7 week art programme for girls focusing on topics such as self-worth, finding your voice, identity and empowerment. |
The Freedom 2 Be programme is a 4 day Hackathon in partnership with Ricebox Studios. The aim of the programme is to explore online identity using Augmented Reality (AR). |
The Freedom 2 Travel Safety project is a 3 hour workshop that explores girls experiences of transport and public spaces. |
Restricted funds brought forward at 31 January 2024 of £292 received from Foundation For Future London for the Freedom 2 Be project were fully spent in this financial year. |
Restricted funding was received during the year from the following organisations for the specified purposes: |
Haslers Foundation - £1,400 grant towards Freedom 2 Travel Safely. Funds were fully spent on the project during the period. |
Crowdfunding from our half marathon walk fundraiser - £2,298 towards Freedom 2 Travel Safely. All funds were spent on the Freedom 2 Travel Safely programme during the period. |
Donations were received of £7,000 which were restricted to the remuneration of the Chief Operations Officer of the charity for their services. Funds were fully spent in the financial period covering delivery of charitable activity projects, fundraising, marketing and management of the charity. |
University of East London - £450. Funds were received for a research project. Funds were fully spent in completion of the project during the financial period. |
FREEDOM 2 LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
2. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the period ended 31 March 2025 nor for the year ended 31 January 2024. |
Trustees' expenses |
There were no trustees' expenses paid for the period ended 31 March 2025 nor for the year ended 31 January 2024. |
3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | (1,665 | ) | - | ( |
) |
TOTAL FUNDS CARRIED FORWARD | (2,401 | ) | 292 | (2,109 | ) |
FREEDOM 2 LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Accruals and deferred income |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2025 | 2024 |
£ | £ |
Other creditors |
Within "Other creditors" the amount of £1,708 represents the balance of the loan made by the founder, Melanie Manning, to facilitate and support the work of the charitable company. Repayment of the loan will not be pursued by Melanie Manning. |
6. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.2.24 | in funds | 31.3.25 |
£ | £ | £ |
Unrestricted funds |
General fund | (2,401 | ) | 693 | (1,708 | ) |
Restricted funds |
Freedom 2 Be Programme | 292 | (292 | ) | - |
TOTAL FUNDS | ( |
) | 401 | (1,708 | ) |
FREEDOM 2 LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
6. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,416 | (1,723 | ) | 693 |
Restricted funds |
Freedom 2 Be Programme | - | (292 | ) | (292 | ) |
Freedom 2 Travel Safely Programme | 3,698 | (3,698 | ) | - |
Research project | 450 | (450 | ) | - |
Services of Chief Operating Officer | 7,000 | (7,000 | ) | - |
( |
) | (292 | ) |
TOTAL FUNDS | ( |
) | 401 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.2.23 | in funds | 31.1.24 |
£ | £ | £ |
Unrestricted funds |
General fund | (1,665 | ) | (736 | ) | (2,401 | ) |
Restricted funds |
Freedom 2 Be Programme | - | 292 | 292 |
TOTAL FUNDS | (1,665 | ) | (444 | ) | (2,109 | ) |
FREEDOM 2 LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2024 TO 31 MARCH 2025 |
6. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,229 | (2,965 | ) | (736 | ) |
Restricted funds |
Freedom 2 Be Programme | 5,460 | (5,168 | ) | 292 |
TOTAL FUNDS | 7,689 | (8,133 | ) | (444 | ) |
7. | RELATED PARTY DISCLOSURES |
At 31 March 2025, the charitable company owed £1,708 to Mrs M J Manning (2024: £2,800), the Chief Operations Officer of the charitable company. |
During the year donations of £7,000 were received by the charity from Peter Manning, father-in-law of Mrs M J Manning, the Chief Operations Officer of the charity. Use of the donations was restricted by the donor to the remuneration of the Chief Operations Officer in respect of their services rendered on behalf of the charity. |
8. | COMPANY LIMITED BY GUARANTEE |
Freedom 2 Ltd is a charitable company, limited by guarantee, incorporated in England & Wales, registered number 10576296. The registered office is 48 Stanley Road, South Woodford, London, E18 2NS. |
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding-up, such an amount as may be required not exceeding £1. |