**Charity number: 1100416** ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2024** ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** |**CONTENTS**|| |---|---| ||Page| |**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1 - 2| |**Trustees' Report**|3 - 15| |**Independent Auditors' Report on the Financial Statements**|16 - 19| |**Statement of Financial Activities**|20| |**Balance Sheet**|21| |**Statement of Cash Flows**|22| |**Notes to the Financial Statements**|23 - 43| ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Trustees** Abiodun Adewole, Chair Ben Iyere, Trustee Titilope Adeleye, Trustee Lawrence Oji, Trustee Adebisi Olawuyi, Trustee Abosede Adesola Adekoya, Trustee (appointed 7/12/2024) John Kolawole Akinnawo, Trustee (appointed 7/12/2024) Carmen Ogedegbe, Trustee (appointed 7/12/2024) Page 1 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Charity registered number** 1100416 ## **Principal office** 21 Queensway Ponders End Enfield London EN3 4SZ ## **Bankers** Barclays Bank Plc 1 Churchill Place London E14 5HP ## **Solicitors** Winside and Freeman Solicitors 44 Baker Street 65 Church Street Edmonton London N9 9PY ## **Interim Manager** Dr Adam Stephens of Evelyn Partners LLP, Interim manager discharged 13 September 2024) 45 Gresham Street London EC2V 7BG Page 2 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024** The Trustees present their annual report together with the financial statements of the Charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and the Charities Statement of Recommended Practice (second edition) and Financial Reporting Standard FRS 102. ## **Objectives and activities** ## **a. Policies and objectives** In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. The Board of Trustees are confident that the aims and objectives of the Ministry fully meet with the public benefit test. The Ministry exists for the benefit of the public and opens its doors and activities to all. ## **b. Activities undertaken to achieve objectives** The Charity was able to carry out most of its numerous physical activities for the whole of the year in accordance with its objectives and plans outlined for the year, attending physical services have improved tremendously as people the whole world have forgotten about COVID entirely and now go about their normal business without let or hindrance. However, some services especially the weekly ones are still being held virtually as lifestyle change because of COVID made most people to get used to the idea of a new way of life doing most things virtually including worship service. Consequently, we have accepted the fact that virtual activities will continue to be maintained into the foreseeable future, these services include worship service, Christian outreach, seminars, training, Women empowerment conferences, and youth programmes carried out online using various social media platforms. Also, because of the above and the winding up of the statutory investigatory enquiry of the Charity by the Charity Commission with the final disengagement of the of Interim Manager in 2024, our financial position was highly and still is highly impacted as revenue has not returned to its pre pandemic level, but we are gradually getting back to our 2018 level as more people are facing the realities of the return to normal lifestyle but definitely not fully there yet which can also be attributed to the fact that weekly and mostly Sunday services are still being held online. In furtherance of the explanation above, the above diverse circumstances has led to strained relationship between the Charity and some of the landlords of the properties occupied resulting in litigations, legal costs and in some cases evictions from properties. It should be pointed out that during the entire year and because of the continued evangelism and house to house outreach to assure members and encourage them to physically meet with the guarantee that their welfare will be taken care of with the provision of Personal Protective Equipment (PPE) if still required, the Charity was able to perform some of its objectives in person in accordance with its objects and plans outlined for the year. These include Christian outreach, seminars, training, and youth summer meetings. We had over 3,000 Men and Women attending our various online bible teachings encompassing life skill mentoring based on biblical principles. There were also welfare programmes in conjunction with local communities and feeding the homeless. The Charity also run Food Bank in some of its branches which serves as a great benefit to the immediate community. Page 3 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Objectives and activities (continued)** ## **c. Volunteers** The Charity uses voluntary workers in almost every aspect of its operations. Some of them function as ministers, whilst others are professionals serving in diverse areas, several hundred contribute towards Evangelism and the efficient running of church services. The ministry enjoyed the services of over 100 volunteers contributing various hours during the year, we appreciate their selfless contribution. ## **Achievements and performance** ## **a. Main achievements of the Charity** Our goals for this year were: • To encourage Pastors to organize more physical services where practicable so as to increase physical attendance. • To continue to hold at least one service every Sunday in all our branches and maintain at least two weekly services to meet the needs of our members and attendees. • To connect with more of the population worldwide by streaming some of our special services through YouTube, Gospel Channels on TV and other social media networks. - To continue with the various General Overseer’s prayer lines weekly and monthly. • To continue to reach out to the youth through conferences, summer camps etc. with a view to reducing or eliminating gangs from our streets and making them purposeful and useful partners in society. We are glad to report that because of the outreach program of various volunteers, most of the above as measured using our performance indicators, have been achieved to a great extent during the year with a desire to do more strategically in the coming years. Page 4 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Achievements and performance (continued)** ## **b. Review of activities** The Charity has functioned as a registered charity in the UK for several years successfully fulfilling most of its objectives and the Trustees consider the performance satisfactory as we continue to impact positively on our local communities. The Charity is however keen to improve on its activities and seeks to advance the Christian religion through its activities and the facilities offered to the community for the advancement of Christian religion through its different branches. The Charity hopes, with climatic conditions permitting to further enhance public benefit by interacting more with the local community where we operate through charitable giving, outreach programs, support for community initiatives and other social-related programs. We aim to make a positive impact on the local community where we operate. All Charity Operational Policy documents and new ones are being updated to align with our strategic growth and plans. are currently being reviewed and improved upon. We have engaged the services of specialist Solicitors and other professionals, and these are being concluded with the aim of making the Charity operation align with what is obtained in an ideal environment globally. Media outreach was intensified as more early morning radio and online prayer meetings continued with participants numbering several hundreds of thousands joining live meetings. Facilities were also provided for sending recorded sessions to thousands of those who could not join live session. - •• Through Mission and Evangelism, we help those in need as a demonstration of our faith. - The Ministry was very active in giving support to the needy and the homeless in society through our ‘We - Care’ group and through continuous donations to food banks, care homes, and children in need funds. • We have continued to organize Christian meetings and programs to propagate the gospel at all levels to enlighten and uplift the spiritual development of members. • The Ministry has continued to run schools under the aegis of the Institute of Spiritual Warfare for the continuous training and development of pastors, ministers and volunteers. - Increased outreach to the community through online, radio and TV programs. - More branches were converted to house fellowship centers and meeting places in order to provide - effective interaction with the local community. - Streaming of live Ministry programs to designated centers and to the general public. - Increased focus on youth activities and development. - In Worship and prayer this year we have been successful in welcoming more families into our church from - the community, as well as our regular services, we enable our community to celebrate and thank God for the milestones of the journey through life with water immersion baptism, marriage vows and other celebrations. - Providing sacred space for personal prayer and contemplation. - Conducting pastoral work including visiting the sick and the bereaved. - Teaching Christianity through sermons, courses and small groups. - Providing a youth club with a Christian ethos to members and the community. Page 5 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Achievements and performance (continued)** - Promoting the whole mission of the church through activities for senior citizens, parents and toddlers and - other special needs groups. - Providing regular public worship which is open to all. - Providing sacred space for personal prayer and contemplation. - Conducting pastoral work including visiting the sick and the bereaved. - Teaching Christianity through sermons, courses and small groups. - Providing a youth club with a Christian ethos to members and the community. - Promoting the whole mission of the church through activities for senior citizens, parents, toddlers and - other special needs groups. There was great enthusiasm amongst members to join the volunteer workforce. The number of new house fellowships started was more than in the previous year, which brings the Charity closer to the community. Page 6 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Achievements and performance (continued)** ## **c. Factors relevant to achieve objectives** The Charity holds in high esteem community impact and uses resources within its control to reach out to the community and public. The evangelism department of the ministry comprising of volunteers periodically reaches out to the public through street Pastoral work, counselling and providing comfort to the public through the messages of Christ. General Overseer’s past messages are available on the charity’s website for public access, so are some of our services streamed on YouTube with life-changing prayer points. Motivational books and CDs are available at affordable prices to the public. The previous years’ success of our Youth Camp Meeting was followed up with several ministration invites, a continued effort to make better the youths in our environment at a time when youths are becoming too involved in negative activities. To further empower the youths and keep them out of the streets, contributing our quota to reducing knife crimes, we engage in street evangelism introducing our faith to youths and others alike on the street. Encouraging them to make a turnaround to better their life. The annual youth reboot summer camp was able to be held, and the attendance was encouraging with the young ones participating in empowerment programs which positively impact their lives and there is a plan in place to expand this program in the future to make more youth participate and invite members from outside our faith. The Charity, through it’s We Care group, have established food banks in some of our branches such as Woolwich, Edmonton, Southampton, Grays, Manchester etc. and provide community support services at our branch in Stratford. Over 1,000 homeless and service users are fed, assisted with toiletries and clothing during the year at many of our service centers. We look forward to opening more food banks and support centers during the coming year. ## **Inquiry by regulatory authority:** The Charity Commission, the independent regulator of charities in England and Wales, opened a statutory inquiry into the Charity’s activities on the 27th of March 2018. This inquiry is being rounded up and the appointment of the Interim Manager was terminated during the year. The interim manager Dr Adam Stephens of Evelyn Partners LLP was appointed Interim Manager with respect to the Charity with effect from 1 August 2019, subject to and until any further Order or Orders varying or discharging (in whole or in part) the provisions of this Order. S.84 Order was issued on July 12, 2024 where inter alia the appointment of Dr Adam Stephens which was discharge of the services of their services. The Order further directs that: “you complete actions set out in the schedule to the Order. This action must be taken by the dates specified in the Order and we will monitor your progress in taking this action. Please let me know as soon as possible if there is anything the Commission needs to know in relation to making this Order, or about the charity, the trustees or the issues being covered by the investigation that may impact on this Order.” “The reasons for making the Order are given in a Statement of Reasons attached to this email. Given that this Order may have an impact you may want to seek your own independent legal advice”. Trustees are now able to act in the administration and management of the Charity and are no longer required to cooperate with any external body again as our faith was put in our hands with full independence to manage and Page 7 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Achievements and performance (continued)** govern all the affairs of the Charity. The Trustee were mandated to bring to conclusion the work started in the following areas: - Amending the Charity’s governing document in line with the Tribunal’s recommendations. - Implementing and operating effective systems and controls across the whole of the Charity to ensure that - payments and transfers are legitimate and in furtherance of the Charity’s purposes. The above has been carried out and the Charity is expecting the necessary regulatory approvals for these to be able to move in the right direction as envisioned in our new focused objectives. The IM was discharged on 13 September 2024. ## **d. Fundraising activities and income generation** Members donations and voluntary gifts continued to be the main sources of income. The charity does not involve itself in any other form of fundraising. ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. There is no factor impacting our going concern at present as a Charity as we now have the full mandate to govern and manage our affairs independently and operation professionals are being engaged across our regions and branches and by the grace of God, this Charity will be fully focused on its visions and objectives which are being clearly communicated to all stakeholders within and outside of the Charity. Page 8 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **b. Reserves policy** The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately six months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds for running the ministry’s administrative and ministerial departments. At the year end, the level of free reserves was significantly higher than six months of unrestricted expenditure. This is because the Charity is conserving funds for the acquisition of a property to be used as Church Centre Complex to house its administrative headquarters. The Complex will have facilities and capacity to host big events, worship, religious meetings, recreation, training, food bank, creche etc. The Trustees believe that owning such a complex where all members can meet at the same time will foster unity amongst the members and facilitate better coordination of the Charity. It will also in the long term save funds expended on renting venues which are relatively expensive for our large meetings. Overall income for the year was £2.4m (2023: £2.7m) and the net surplus for the year was £348k (2023: £512k). At the end of the year unrestricted reserves stood at £5.87m and restricted reserves stood at £1.98m. The restricted reserves represent donations made towards building fund. The amount of fund that can only be realised by disposing of tangible fixed assets were £5.5m. There are no factors that are likely to have a significant impact on future financial performance or position of the Charity. ## **c. Principal risks and uncertainties** The Board of Trustees take seriously their responsibility to assess and manage all the major risks facing the Charity. The Charity keeps a risk register and a review of all the risks facing the Charity is carried out annually. Detailed financial monitoring takes place to ensure compliance and prudency with all financial policies by the branches and non-financial risks such as safeguarding are all well managed. The Charity as well employs procedures of good practice that can safeguard against loss of income or assets. ## **d. Financial risk management objectives and policies** The Trustees have assessed the major risks to which the Charity is exposed, those related to its operations and finances. The principal risks faced by the Charity lie in the fact that the branches are located all over the UK and the Trustees are taking all reasonable steps to mitigate against this risk. The Trustees actively review the major risks which the Charity faces on a regular basis and ensure measures, policies and budgetary controls are put in place to safeguard charity's funds and assets. Trustees also ensure legal advice is sought, when necessary, on crucial issues concerning the ministry and the services of a legal adviser is retained. ## **e. Principal funding** Almost all of the charity's income comes from members donations. ## **Structure, governance and management** Page 9 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Structure, governance and management (continued)** ## **a. Constitution** Mountain of Fire and Miracles Ministries International is a registered charity, number 1100416, and is constituted under trust deed. The organisation is an unincorporated charity registered with Charity Commission. The Charity was registered on 30th October 2003. The Charity's governing document is the Constitution dated 31st August 2002 as amended on the 26th of September 2004. ## **b. Methods of appointment or election of Trustees** The management of the Charity is the responsibility of the Trustees who are elected and co opted under the terms of the Trust deed. All Trustees give their time freely and no Trustee received remuneration, only reimbursement of expenses in the year. ## **c. Organisational structure and decision-making policies** The principal object of the charity is to propagate Christianity through Christian meetings. The purpose of the Charity is: the promotion of Christianity through Christian meetings, seminars, conventions, crusades; theological education; evangelical training; counselling, sponsoring of programmes for the relief of the neglected, poor and the elderly; publications / distributions of books, audio and video tapes. The Charity in propagating Christian faith and advancement of religion provides a platform for members of the community to live out their faith through: - Worship and prayers; learning about and living the tenets of the Gospel of Jesus Christ - Provision of pastoral care - Missionary and outreach work. There have been no changes in the objectives since the last annual report. ## **d. Policies adopted for the induction and training of Trustees** New Trustees are selected on the the basis of the contribution that they will make to the governance of the organisation and the skills that they will contribute. They are provided with copies of the Charity Commission’s guidance to Trustees and are given an introduction to the activities of the Charity by the existing board. They are also made aware of the Charity’s constitution, current financial position as set out in the latest filed accounts and our future and objectives. Existing Trustees are familiar with the workings of the church and Charity being long standing members of the church and Christians with an understanding of the Charity's core values, they are provided with training as and when required. Page 10 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Structure, governance and management (continued)** ## **e. Pay policy for key management personnel** The Charity operates a salary scale structure guided by the following parameters: Benchmarking, range of training, skills and experience required, affordability for the organisation, retention, and the overall remuneration policy of the church. The current pay scale conforms to market value rates, but it is being reviewed to provide further incentives to staff. Pastors form the bulk of the management personnel in the Charity and they are managed by the Pastoral Council who use criteria such as qualification, training received, experience, suitability, length of service, performance, affordability, non violation of Ministry rules and regulations in setting up the pay for individuals for ratification by Trustees. ## **f. Related party relationships** All the Trustees work is purely voluntary, none of the trustees received remuneration or other benefits for their work as trustee during the year under review. Except those disclosed in Related Party transactions note to the financial statements, there have been no transactions or dealings with any individual or entities connected to trustees or any other related parties. ## **g. Risk management** The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. Page 11 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Structure, governance and management (continued)** ## **h. Organisational structure and decision making** A pyramidal reporting structure which allows for a documented and auditable trail of accountability is in place. These procedures are applicable across all operations and provide for an increased level of authority to be given at higher levels of management and ultimately to the Trustees. The Central Administrator and Administrative Officer reports directly to the Board of Trustees on the management’s assessment of risks and how they are managed, this enables the Trustees to review key risks inherent in the organisation, and the system of control of such risks. The Central Accountant periodically provides financial information to Trustees, where areas of improvement are identified, the Trustees may consider the recommendation for implementation. The Board of Trustees consists of no less than 6 Trustees with a maximum of 18 at any time according to the provision of the Charity’s constitution. The section on membership and composition of governance of the Chairty has been amended to reflect the above in order to give room for diversity and merit. Members of the Charity include all Christians and their families irrespective of their denomination and nationalities, who identify with the objects of the charity and its statement of faith. Membership comes into effect when the name is entered on the role of members. Mr. Abiodun Adewole is the chairman of the Board of Trustees for the year and still continue in office.. The day-to-day management of the Charity is delegated to the Central Administrator and the Central Accountant and their Assistants. The Trustees are ultimately responsible for directing and controlling the Charity. They are assisted by a Pastoral council, (In charge of the supervision of the religious and administrative activities in the branches), accountants, administrative officers and the management committee who reports directly to the Chairman of the Trustees. The Trustees, the central administrator, and the central accountant are all considered to be the key management personnel of the Charity. ## **Governance** Trustees meet periodically to formulate policies and operating guidelines. The Charity is administered by the Board of Trustees as listed on the references and administrative information section. Albeit retaining its responsibility for the overall strategy and policies of the Charity, the Trustees delegate the day to day management to the Central Administrator and the Central Accountant. The Charity operates through a branch system, and branches are allowed some degree of autonomy in respect of general administration and some restricted financial matters. Pastors have overall control in the management of their branches and are assisted by Secretaries / Administrators. Finance committees, however, manage the procedure for procurement and ensure all money received are banked at the branch level. The branches are mandated to make monthly returns to central office at the headquarters; this should include activities, financial records (both online and paper) and any other issues that need the attention of the Trustees. All the Charity’s property titles are held under the names of the serving trustees on behalf of the charity.. Page 12 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Structure, governance and management (continued)** ## **i. Declaration of Serious Incidents** The Board of Trustees confirms that there were no significant incidents during the year or subsequent to the year end. As at the date of signing off this report, there were no significant events, incidents, claims, litigation or any other matters affecting the Charity or figures and disclosures in the accounts that have not previously been disclosed. ## **Plans for future periods** The Trustee are of the view that a restructure of the administrative and financial functions of the Charity needs to be carried out urgently and to give effect to the outcome of the case at the Appeal Tribunal, professional consultants are being engaged to carry out this task to make the Charity more fit for purpose. The Trustees programmes of action for future development among other issues are as follows: - Making branches independently registered charities for effective management. - Change to the membership of trustees for diversity if required. - More involvement in community regeneration, vocational training and other communal activities. - Establish recreation centers to cater for the needs of young people in the community. - Enhance TV / Radio / Media ministry and promote Evangelism. - Intensify outreach to the local community targeting youths, older people, prisoners, widows and orphans - etc. - Organise more crusades to win souls. - Acquire a befitting headquarter building and a prayer arena for the United Kingdom. - Establish and support international missions. - Introduce more schools especially the School of Discipleship. - Supporting other charities in the UK and overseas. Page 13 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Engagement with employees and employment of the disabled** Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by management. The Charity carries out exit interviews for all staff leaving the Charity and has adopted a procedure of upward feedback for senior management and the Trustees. The charity has implemented a number of detailed policies in relation to all aspects of personnel matters including: - Equal opportunities policy - Volunteers' policy - Health & safety policy In accordance with the charity's Equal Opportunities Policy, the charity has long established fair employment practices in the recruitment, selection, retention and training of disabled staff. Full details of these policies are available from the Charity's offices. ## **Statement of Trustees' responsibilities** The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) 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 continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 14 lIOuNT*￿ OF *JID MRICLES ¥N18Tr1E8 IlnERNATkYI•L TrUSTEes' REPORT ICOMUEDI FOR ThE YEAR ENDED 31 DEceM8ER 2 Dl•oloBur• •fkrfomwtion to •tyJltw• E4th ofth• p￿Tr# arn attr• thk Trtthm. R¢pJrth *pNty•Y h*• rA￿M￿l th•t b￿t Trwl•• h48 iaken all thé 1*8 thot fAJoh¢ h•M• be￿ l&k•n w • to bg awor• ¢1 Audltsr Th4 8udllin. A￿￿Tra0 Ctymuwng Lld. h•v• Indbxtyl &) &)hdrrtw In oflkA. Th• d•dgr ￿11 wop%)•• a mokni a14 m••dr¥J ofth• Tnj5ts￿. lodun Ad•wo1• Ichalr of Tw•twBI Dot•'. Paga 1S **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **Opinion** We have audited the financial statements of Mountain of Fire and Miracles Ministries International (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Page 16 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL (CONTINUED)** ## **Other information** The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the Trustees' Responsibilities Statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Page 17 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL (CONTINUED)** ## **Auditors' responsibilities for the audit of the financial statements** We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ## **Extent to which the audit was considered capable of detecting irregularities, including fraud:** We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. ## Identifying and assessing potential risks related to irregularities: In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following: The nature of the industry and sector, control environment and business performance including the design of the entity’s remuneration policies, results of our enquiries of management about their own identification and assessment of the risks of irregularities and any matters we identified having reviewed the entity’s policies and procedures; the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the entity operates in and focused on those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities Act 2011. Audit response to risks identified: As a result of performing the above, we identified revenue recognition as key audit matter related to the potential risk of fraud. Our procedures to respond to risks identified included the following: - reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; - enquiring of management, concerning actual and potential litigation and claims; Page 18 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL (CONTINUED)** - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - obtaining an understanding of provisions and discussing with management to understand the basis of recognition or non-recognition of provisions; and in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. ## **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 Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. ## **Accendo Consulting Ltd** Chartered Certified Accountants & Statutory Auditors ## 15 October 2025 Accendo Consulting Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 19 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024** |**Note**
**Income from:**
Donations and legacies
4
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**2,272,363**
**435**
**2,272,798**
**2,027,743**
**2,027,743**
**245,055**
**5,626,885**
**245,055**
**5,871,940**|**Restricted**
**funds**
**2024**
**£**
**102,487**
**-**
**102,487**
**-**
**-**
**102,487**
**1,875,548**
**102,487**
**1,978,035**|**Total**
**funds**
**2024**
**£**
**2,374,850**
**435**
**2,375,285**
**2,027,743**
**2,027,743**
**347,542**
**7,502,433**
**347,542**
**7,849,975**|_Total_
_funds_
_2023_
_£_
_2,709,630_
_376_| |---|---|---|---|---| |||||_2,710,006_| |||||_2,198,198_| |||||_2,198,198_| |||||_511,808_| |||||_6,990,625_
_511,808_| |||||_7,502,433_| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 23 to 43 form part of these financial statements. Page 20 MOUNT••4 OF F￿AND MNCLE8 MIP4sfRIE8 MTERP14T 8AL*JICE SHEET ASAT 31 DEGEMBeR Ztr14 T4nglb18 assots hv••¢montJ 11 12 0,464,8tr ¢2,981 2,546 S,5V.783 Curr•nt •¥••¢• D•blo7 13 180,f 1716,812 2.7T1143 4955011 3.877.347 14 273311 Z707.OQI Totsl 4M•ts l•sB eumt U•bllW 4m3JJ orii is V•6,73S) (841,5531 ($9,523J N•t ••Mt• •x¢luulng p•n•lott w•t 7W.II7S 7,502,433 7I49,975 7,502.433 Cn•my iuno• ReJlrfct￿ lJwqqtrk*d lunth 17 17 1.978.QJ8 SB71,940 1,8T&548 0,624885 Tolal fvnd• 7.149NS T,&77.433 blodurl Ad￿1￿* Chlrrftru5t￿ IS- l•_aOIS Thernkns on p•>s 23 to 42 lrym wl *IBrrwA P•p 21 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024** |**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Purchase of investments
**Net cash used in investing activities**
**Cash flows from financing activities**
Repayments of borrowing
Repayments of finance leases
**Net cash used in financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|**2024**
**£**
**201,013**
**435**
**(70,532)**
**(435)**
**(70,532)**
**(63,681)**
**(11,499)**
**(75,180)**
**55,301**
**3,716,842**
**3,772,143**|_2023_
_£_
_534,075_
_376_
_(16,677)_
_(376)_
**(16,677)**
_(79,760)_
_(10,005)_
**(89,765)**
**427,633**
_3,289,209_
_3,716,842_| |---|---|---| The notes on pages 23 to 43 form part of these financial statements Page 22 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1. General information** The entity is a charity registered with Charity Commission in England & Wales and registration number 1100416. The charity’s registered office address is: 21 Queensway, Ponders End, Enfield EN3 4SZ. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Mountain of Fire and Miracles Ministries International meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **2.2 Going concern** The trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties that may cast doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of financial statements. After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Page 23 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **2. Accounting policies (continued)** ## **2.3 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. ## **2.5 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. Page 24 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **2. Accounting policies (continued)** ## **2.6 Tangible fixed assets and depreciation** Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Assets in the course of construction are included at costs incurred to date. Depreciation on these assets is not charged until they are brought into use. At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: |Freehold property|-|2%| |---|---|---| |Plant and machinery|-|20%| |Motor vehicles|-|25%| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities. ## **2.7 Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities. ## **2.8 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.9 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 25 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **2. Accounting policies (continued)** ## **2.10 Liabilities** Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. ## **2.11 Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2.12 Finance leases and hire purchase** Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Charity. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of Financial Activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. ## **2.13 Operating leases** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. ## **2.14 Pensions** The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. Page 26 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **2. Accounting policies (continued)** ## **2.15 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. Investment income, gains and losses are allocated to the appropriate fund. ## **3. Critical accounting estimates and areas of judgement** In preparing these financial statements, the trustees are required to make estimates and judgements that affect the amounts recognised in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are considered reasonable under the circumstances. Critical accounting estimates and assumptions: Estimates are used in determining the carrying values of assets and liabilities that are not readily apparent from other sources. These estimates are based on management’s best knowledge of current events and actions that the Charity may undertake in the future. Actual results may differ from these estimates. **Useful economic lives of fixed assets:** The annual depreciation charge is based on the estimated useful economic lives and residual values of tangible fixed assets. These are determined by management with reference to the nature of the assets, their expected usage, and past experience with similar assets. Reviews are undertaken annually to assess whether the estimates remain appropriate. **Provision and contingent liabilities:** The amount recognised for provisions and contingent liabilities is based on management’s assessment of the likelihood, timing, and amount of future outflows. Estimates are made using all available information, including past claims history, expert advice where appropriate, and consideration of current legal and commercial circumstances. Critical areas of judgement: Judgements are applied in determining whether a present obligation exists that requires recognition of a provision, or disclosure as a contingent liability. These assessments require consideration of the specific facts and circumstances at the reporting date and involve interpretation of applicable legal or contractual positions. Page 27 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **4. Income from donations and legacies** |**Unrestricted**
**funds**
**2024**
**Restricted**
**funds**
**2024**
**£**
**£**
Donations
2,272,363
102,487
_Unrestricted_
_funds_
_2023_
_Restricted_
_funds_
_2023_
_£_
_£_
Donations
_2,672,407_
_37,223_
**5.**
**Investment income**
**Unrestricted**
**funds**
**2024**
**£**
Investment income
435
_Unrestricted_
_funds_
_2023_
_£_
Investment income
_376_|**Total**
**funds**
**2024**
**£**
**2,374,850**| |---|---| ||_Total_
_funds_
_2023_
_£_
_2,709,630_| ||**Total**
**funds**
**2024**
**£**
**435**| ||_Total_
_funds_
_2023_
_£_
_376_| Page 28 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **6. Analysis of expenditure on charitable activities** ## **Summary by fund type** |**Unrestricted**
**funds**
**2024**
**£**
Charitable Activities
2,027,743
_Unrestricted_
_funds_
_2023_
_£_
Charitable Activities
_2,198,198_|**Total**
**2024**
**£**
**2,027,743**| |---|---| ||_Total_
_2023_
_£_
_2,198,198_| ## **7. Analysis of expenditure by activities** |Charitable Activities
Charitable Activities|**Activities**
**undertaken**
**directly**
**2024**
**£**
1,350,613
_Activities_
_undertaken_
_directly_
_2023_
_£_
_1,400,258_|**Support**
**costs**
**2024**
**£**
677,130
_Support_
_costs_
_2023_
_£_
_797,940_|**Total**
**funds**
**2024**
**£**
**2,027,743**| |---|---|---|---| ||||_Total_
_funds_
_2023_
_£_
_2,198,198_| Page 29 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **7. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs** |**Direct costs**
**- Charitable**
**Activities**
**2024**
**£**
Staff costs
270,019
Donations, grants & outreach activities
20,727
Conferences and events
206,243
Hospitality and honorarium
5,976
Printing, postage and stationery
24,066
Welfare, donations and local projects
22,335
Advertising and publicity
481
Motor and travel
114,822
Rent and rates
685,944
1,350,613
_Direct costs -_
_Charitable_
_Activities_
_2023_
_£_
Staff costs
_299,329_
Donations, grants & outreach activities
_15,741_
Conferences and events
_110,888_
Hospitality and honorarium
_13,001_
Printing, postage and stationery
_26,958_
Welfare, donations and local projects
_27,624_
Advertising and publicity
_55_
Motor and travel
_94,752_
Rent and rates
_811,910_
_1,400,258_|**Total**
**funds**
**2024**
**£**
**270,019**
**20,727**
**206,243**
**5,976**
**24,066**
**22,335**
**481**
**114,822**
**685,944**| |---|---| ||**1,350,613**| ||_Total_
_funds_
_2023_
_£_
_299,329_
_15,741_
_110,888_
_13,001_
_26,958_
_27,624_
_55_
_94,752_
_811,910_| ||_1,400,258_| Page 30 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **7. Analysis of expenditure by activities (continued)** ## **Analysis of support costs** |Depreciation
Subscriptions
General expenses
Telephone and fax
IT and software
Repairs and renewals
Electricity
Insurance
Premises expenses
Interest and bank charges
Motor expenses
Other support costs
Governance costs|**Charitable**
**Activities**
**2024**
**£**
139,692
5,189
33,575
33,673
12,207
86,127
91,194
46,743
20,628
86,332
14,080
1,877
105,813
677,130|**Total**
**funds**
**2024**
**£**
**139,692**
**5,189**
**33,575**
**33,673**
**12,207**
**86,127**
**91,194**
**46,743**
**20,628**
**86,332**
**14,080**
**1,877**
**105,813**| |---|---|---| |||**677,130**| Page 31 **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **7. Analysis of expenditure by activities (continued)** ## **Analysis of support costs (continued)** |Depreciation
Subscriptions
General expenses
Telephone and fax
IT and software
Repairs and renewals
Electricity
Insurance
Premises expenses
Interest and bank charges
Motor expenses
Other support costs
Governance costs
**Auditors' remuneration**
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above|_Charitable_
_Activities_
_2023_
_£_
_151,443_
_3,809_
_30,527_
_31,383_
_11,661_
_109,044_
_126,563_
_41,030_
_23,435_
_87,260_
_9,990_
_10,111_
_161,684_
_797,940_
**2024**
**£**
**18,750**
**3,000**|_Total_
_funds_
_2023_
_£_
_151,443_
_3,809_
_30,527_
_31,383_
_11,661_
_109,044_
_126,563_
_41,030_
_23,435_
_87,260_
_9,990_
_10,111_
_161,684_| |---|---|---| |||_797,940_| |||_2023_
_£_
_17,850_
_2,900_| **8. Auditors' remuneration** Page 32 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **9. Staff costs** |Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2024**
**£**
**245,940**
**17,006**
**7,073**
**270,019**|_2023_
_£_
_272,836_
_18,812_
_7,681_| |---|---|---| |||| |||_299,329_| The average number of persons employed by the Charity during the year was as follows: ||**2024**|_2023_| |---|---|---| ||**No.**|_No._| |Administration and management|**12**|_13_| The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |||**2024**|_2023_| |---|---|---|---| |||**No.**|_No._| |In the band £70,001|- £80,000|**1**|_1_| During the year the key management personnel (excluding trustees) were paid total remuneration of £82k (2023: £86k) and pension contibutions of £1.6k (2022: £2.8k). ## **10. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ . During the year, expenses totalling _£_ 13,237 were reimbursed or paid directly to six Trustees _(2023 - £ 12,718_ - to 5 trustees). The expenses reimbursed relate to transport and travel to attend trustees meetings and to visit charity's branches. Page 33 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **11. Tangible fixed assets** |**Cost**
At 1 January 2024
Additions
Disposals
At 31 December 2024
**Depreciation**
At 1 January 2024
Charge for the year
On disposals
At 31 December 2024
**Net book value**
At 31 December 2024
_At 31 December 2023_|**Freehold**
**property**
**£**
**6,184,547**
**-**
**-**
**6,184,547**
**735,500**
**88,380**
**-**
**823,880**
**5,360,667**
_5,449,047_|**Plant and**
**machinery**
**£**
**1,491,410**
**67,592**
**(1,279,134)**
**279,868**
**1,395,444**
**47,719**
**(1,279,134)**
**164,029**
**115,839**
_95,966_|**Motor**
**vehicles**
**£**
**243,106**
**2,940**
**(219,516)**
**26,530**
**234,157**
**3,593**
**(219,516)**
**18,234**
**8,296**
_8,949_|**Total**
**£**
**7,919,063**
**70,532**
**(1,498,650)**
**6,490,945**
**2,365,101**
**139,692**
**(1,498,650)**
**1,006,143**
**5,484,802**
_5,553,962_| |---|---|---|---|---| Included in land and buildings is freehold land at estimated value of £1.8m (2023: £1.8m). No depreciation is provided on land. The charity has taken mortgages to purchase the properties. The mortgages are secured against freehold properties of the charity. ## **Assets subject to hire purchase or finance lease** The net book value of assets subject to hire purchase or finance lease at the year end was £Nil (2023: £9,221). Page 34 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **12. Fixed asset investments** |**Cost**
At 1 January 2024
Additions
At 31 December 2024
**Net book value**
At 31 December 2024
_At 31 December 2023_|**Unlisted**
**investments**
**£**
**62,546**
**435**| |---|---| ||**62,981**| ||**62,981**| ||_62,546_| ## **13. Debtors** |**Due within one year**
Other debtors
Prepayments and accrued income|**2024**
**£**
**81,086**
**102,452**
**183,538**|_2023_
_£_
_111,766_
_48,739_
_160,505_| |---|---|---| Page 35 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **14. Creditors: Amounts falling due within one year** |Bank loans
Other taxation and social security
Obligations under finance lease and hire purchase contracts
Other creditors
Accruals and deferred income|**2024**
**£**
**69,311**
**5,625**
**5,210**
**113,714**
**633,371**
**827,231**|_2023_
_£_
_64,441_
_5,982_
_10,442_
_120,687_
_888,794_| |---|---|---| |||| |||_1,090,346_| Other creditors balance includes £110k of loans from members. The loans are interest free and are repayable on demand. ## **15. Creditors: Amounts falling due after more than one year** |Bank loans
Net obligations under finance lease and hire purchase contracts|**2024**
**£**
**766,735**
**-**
**766,735**|_2023_
_£_
_835,286_
_6,267_| |---|---|---| |||| |||_841,553_| The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is: |Payable or repayable by instalments|**2024**
**£**
**196,929**
**196,929**|_2023_
_£_
_266,672_| |---|---|---| |||| |||_266,672_| The loans are secured on charity's properties and are repayable between 1 and 12 years. The interest rate on loans range from 2.5% to 3.25% over base rate. Page 36 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **16. Provisions** |At 1 January 2024|**Other**
**provisions**
**£**
**59,523**| |---|---| ||| ||**59,523**| There is a dispute with one of the Charity's landlords relating to rent and renovation cost. It is estimated that this will result in a liability of £59.5k (2023: £59.5k). There have been instances of court action or threat of court action concerning various matters relating to properties leased by the charity. A reliable estimate of any potential liability can not be made at this point. Page 37 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **17. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Restricted Funds - all funds
**Total of funds**|**Balance at 1**
**January**
**2024**
**£**
**5,626,885**
**1,875,548**
**7,502,433**|**Income**
**£**
**2,272,798**
**102,487**
**2,375,285**|**Expenditure**
**£**
**(2,027,743)**
**-**
**(2,027,743)**|**Balance at**
**31**
**December**
**2024**
**£**
**5,871,940**| |---|---|---|---|---| |||||**1,978,035**| |||||**7,849,975**| Page 38 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **17. Statement of funds (continued)** ## **Statement of funds - prior year** |**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Restricted Funds - all funds
**Total of funds**
**Summary of funds**
**Summary of funds - current year**

General funds
Restricted funds|_Balance at_
_1 January_
_2023_
_£_
_5,152,300_
_1,838,325_
_6,990,625_
**Balance at 1**
**January**
**2024**
**£**
**5,626,885**
**1,875,548**
**7,502,433**|_Income_
_£_
_2,672,783_
_37,223_
_2,710,006_
**Income**
**£**
**2,272,798**
**102,487**
**2,375,285**|_Expenditure_
_£_
_(2,198,198)_
_-_
_(2,198,198)_
**Expenditure**
**£**
**(2,027,743)**
**-**
**(2,027,743)**|_Balance at_
_31_
_December_
_2023_
_£_
_5,626,885_| |---|---|---|---|---| |||||_1,875,548_| |||||_7,502,433_| |||||**Balance at**
**31**
**December**
**2024**
**£**
**5,871,940**
**1,978,035**| |||||**7,849,975**| ## **18. Summary of funds** Page 39 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **18. Summary of funds (continued)** ## **Summary of funds - prior year** |General funds
Restricted funds|_Balance at_
_1 January_
_2023_
_£_
_5,152,300_
_1,838,325_
_6,990,625_|_Income_
_£_
_2,672,783_
_37,223_
_2,710,006_|_Expenditure_
_£_
_(2,198,198)_
_-_
_(2,198,198)_|_Balance at_
_31_
_December_
_2023_
_£_
_5,626,885_
_1,875,548_| |---|---|---|---|---| |||||_7,502,433_| ## **Restricted fund:** The charity's restricted fund relates to fund raised to help pay for rent and premises costs or to acquire property. ## **19. Analysis of net assets between funds** ## **Analysis of net assets between funds - current period** |**Unrestricted**
**funds**
**2024**
**£**
Tangible fixed assets
4,425,138
Fixed asset investments
-
Current assets
2,990,691
Creditors due within one year
(717,631)
Creditors due in more than one year
(766,735)
Provisions for liabilities and charges
(59,523)
**Total**
5,871,940|**Restricted**
**funds**
**2024**
**£**
1,059,664
62,981
964,990
(109,600)
-
-
1,978,035|**Total**
**funds**
**2024**
**£**
**5,484,802**
**62,981**
**3,955,681**
**(827,231)**
**(766,735)**
**(59,523)**| |---|---|---| |||**7,849,975**| Page 40 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **19. Analysis of net assets between funds (continued)** ## **Analysis of net assets between funds - prior period** |Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
**Total**|_Unrestricted_
_funds_
_2023_
_£_
_4,558,246_
_-_
_2,940,654_
_(970,939)_
_(841,553)_
_(59,523)_
_5,626,885_|_Restricted_
_funds_
_2023_
_£_
_995,716_
_62,546_
_936,693_
_(119,407)_
_-_
_-_
_1,875,548_|_Total_
_funds_
_2023_
_£_
_5,553,962_
_62,546_
_3,877,347_
_(1,090,346)_
_(841,553)_
_(59,523)_
_7,502,433_| |---|---|---|---| ## **20. Reconciliation of net movement in funds to net cash flow from operating activities** |Net income for the period (as per Statement of Financial Activities)
**Adjustments for:**
Depreciation charges
Dividends, interests and rents from investments
Increase in debtors
Decrease in creditors
**Net cash provided by operating activities**
**21.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**|**2024**
**£**
**347,542**
**139,692**
**(435)**
**(23,033)**
**(262,753)**
**201,013**
**2024**
**£**
**3,772,143**
**3,772,143**|_2023_
_£_
_511,808_
_151,442_
_(376)_
_(2,536)_
_(126,263)_
_534,075_
_2023_
_£_
_3,716,842_
_3,716,842_| |---|---|---| Page 41 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **22. Analysis of changes in net debt** |Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
Finance leases|**At 1**
**January**
**2024**
**£**
**3,716,842**
**(64,441)**
**(835,286)**
**(16,709)**
**2,800,406**|**Cash flows**
**£**
**55,301**
**(4,870)**
**68,551**
**11,499**
**130,481**|**At 31**
**December**
**2024**
**£**
**3,772,143**
**(69,311)**
**(766,735)**
**(5,210)**
**2,930,887**| |---|---|---|---| ## **23. Contingent liabilities** As at 31 December 2024, the charity had the following contingent liabilities: 1. Dilapidation Dispute with Landlord: The charity is in dispute with a landlord regarding dilapidation costs related to properties previously rented. The amount claimed by the landlord is around £88k. The final outcome of this matter depends on ongoing negotiations and potential legal proceedings. No provision has been made in these financial statements as the charity believes it has strong grounds for contesting the claimed amount. 2. Payments Due to Contractors and Pastors: The charity has been made aware of claims totalling £340k from various contractors and pastors for services rendered. These claims are under review, and the charity is in the process of verifying the validity of each claim. Due to the uncertainty surrounding these claims, no provision has been included in the accounts for this year. The charity will address these claims in due course and assess any potential financial impact as more information becomes available. The charity continues to take legal advice on these matters and will take appropriate actions as deemed necessary. Should any of these contingent liabilities materialise, they may have a significant impact on the charity's financial position in a future period. ## **24. Pension commitments** The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £7k (2023: £8k). Contributions totalling £1.3k (2023: £1.3k) were payable to the fund at the balance sheet date. Page 42 ## **MOUNTAIN OF FIRE AND MIRACLES MINISTRIES INTERNATIONAL** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **25. Operating lease commitments** At 31 December 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows: |Not later than 1 year
Later than 1 year and not later than 5 years|**2024**
**£**
**838,065**
**491,528**
**1,329,593**|_2023_
_£_
_284,809_
_547,575_| |---|---|---| |||| |||_832,384_| ## **26. Related party transactions** The charity received interest free loan of £106,000 in previous years from the general overseer who was also a chair of the board of trustees until January 2021. The loan is repayable on demand and the balance outstanding at the year end was £106,000 (2023: £106,000). Page 43