## **Freedom in Christ Ministries International**
**(A Charitable Incorporated Organisation)**
**Report and Unaudited Financial Statements For the Year Ended 31[st] December 2021**
**Charity number 1160065**
**Freedom in Christ Ministries International**
**Report and Unaudited Financial Statements for the year ended 31 December 2021**
## **Contents**
|Reference and Administrative Information|4|
|---|---|
|Structure, Governance and Management|5|
|Objectives and Activities|5|
|Achievements and Performance|6|
|Plans for Future Periods|6|
|Financial Review|6|
|Members of the Trustee Body|8|
|Independent Examiner’s Report to the Trustees|9|
|Statement of the Unaudited Financial Activities for the year ended 31 December 2021|10|
|Balance Sheet for the year ended 31 December 2021|11|
|Notes forming part of the financial statements for the year ended 31 December 2021|12-15|
3
**Freedom in Christ Ministries International**
## **Report and Unaudited Financial Statements for the year ended 31 December 2021**
## **Reference and Administrative Information**
Charity Name
Freedom in Christ Ministries International
Charity Registration No.
1160065
Principal Office address
4 Beacontree Plaza Gillette Way Reading Berks RG2 0BS
## **Trustees**
Rodney Woods (UK) Chair Mano Daniel (India) Judith King (USA) Ibrahim Dikko (Nigeria) – resigned 30 April 2021 Robert Genock, (USA) – resigned 30 April 2021 James Wanje (USA) – appointed 30 April 2021 Natali Alonso Hernadez (Brazil) – appointed 30 April 2021
## **Executive Director**
Stephen Goss
**Bankers**
CAFBank Ltd, Kings Hill, Kent ME19 4JQ
4
**Freedom in Christ Ministries International**
## **Report and Unaudited Financial Statements for the year ended 31 December 2021**
## **Structure, Governance and Management**
## _**Governing Document**_
The organisation is a Charitable Incorporated Organisation (CIO), incorporated on 17 October 2014 and registered as a charity on 21 January 2015. The CIO was established under a Constitution which established its objects and powers and set out how it should be governed.
## _**Recruitment and Appointment of Trustees**_
Under the terms of the CIO’s Constitution, members of the Board of Trustees are elected to serve for a period of three years after which they must be re-elected. Trustees are each elected to represent a particular geographic region of the world: Africa; Asia Pacific; Europe; Latin America; and North America and The Caribbean. Nominations are made by Freedom In Christ’s offices and Representatives in each region and are voted on by all of our offices and Representatives around the world.
## _**Organisational Structure**_
Day to day operational leadership is delegated by the Board of Trustees to an Executive Director (ED) who is supported by a management team and a team of area directors. The Board of Trustees is a policy-making Board, having adopted the Carver principles of governance. It sets policies that limit the freedom of the Executive Director where that is needed and sets policies for the strategic ends of the Charity for a rolling 3-5 year plan that is reviewed each year. For governance, the Board of Trustees interfaces only with the ED, who is free to make decisions within the bounds of the strategic plan and governance parameters. The ED provides a report to the quarterly Board meetings that records progress against objectives and the strategic plan, and any exceptions to governance parameters.
## _**Related Parties**_
A number of non-profit organisations around the world have agreed to conduct joint ministry under the aegis of the CIO according to the terms set out in a Joint Ministry Agreement that each one reaffirms annually. These are referred to as “National Offices” or “Partner Ministries”.
## **Objectives and Activities**
## _**Charitable Objects**_
The Object of the CIO is, for the public benefit, the advancement of the Christian faith in accordance with its Statement of Faith and Core Values in such ways as the charity trustees may from time to time decide.
## _**Primary Objective**_
The mission of FICMI is to glorify God by equipping the Church worldwide, enabling it to make fruitful disciples by establishing its people, marriages and ministries alive and free in Christ through genuine repentance and faith in God.
## _**Activities in Support of the Primary Objective**_
FICMI’s main activities are:
- Oversee the creation, translation and effective distribution of discipleship resources for church leaders around the world.
- Manage the establishment of National Representatives in new countries as opportunities arise.
5
**Freedom in Christ Ministries International**
## **Report and Unaudited Financial Statements for the year ended 31 December 2021**
- Oversee National Representatives, National Offices and Partner Ministries in order that they become more and more established, mature and effective.
## **Achievements and Performance**
Our full 92-page Annual Report for 2021 is available on our website (from the “About Us” section). Below is a very short summary.
It has been gratifying to see how our leaders around the world continued their work despite the Covid pandemic. We have discovered that churches like running our courses online and launched a major fundraising initiative to build a comprehensive online platform for them to use. All of the money came in and development has begun.
Our _FreedomStream_ video streaming service grew significantly as churches worked out how to run small groups online.
_Transform_ , our 9-month personal discipleship and equipping course for church leaders was expanded to 461 participants from 42 countries.
We continue to see new national leaders added throughout the world. The area that grew most this year was Latin America with leaders appointed in Costa Rica, Venezuela, Colombia, and Ecuador. We were delighted to appoint Ibrahim Dikko from Nigeria as our Africa Director.
We published the first book, _Unraveling The Lie-Knot_ , in our new _Transforming Discipleship_ imprint and were delighted when it came third in the Advanced Writers and Speakers Association 2021 Non-fiction Awards.
## **Plans for Future Periods**
The major task for 2022 is the development of our Quantum Leap publishing and learning platform, which we envisage becoming a prime way for our customers to access our resources. We are gearing up to support the launch with some key appointments.
A significant new discipleship resource for youth will be filmed this year and published on the new platform. Several other publishing projects are in progress.
## **Financial Review**
## _**Presentation of the financial statements**_
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2016.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued
6
**Freedom in Christ Ministries International**
## **Report and Unaudited Financial Statements for the year ended 31 December 2021**
on 16 July 2014, rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## _**Reserves Policy**_
The Trustees have set a policy on reserves that there should be sufficient for normal expenditure of a minimum of 3 months, and maximum of 12 months. During the financial year, the reserves were in this range.
## _**Investment Policy**_
The Charity therefore does not seek to invest for the sake of income.
## _**Principal funding resources**_
The total income from all sources for the year ended 31 December 2021 was £239,261 and total expenditure £148,249. Unrestricted income was £138,282 and expenditure was £125,392. Unrestricted Income came mainly from General donations 56%, Material sales and Streaming Income 25% and Royalties 8%.
The Charity continues to develop fund-raising strategies that will further increase the proportion of income arising from donations.
The Charity has no physical office and makes good use of open-source web-based systems to facilitate on-line giving to specific projects. Administrative costs are well below 10% of total expenditure. Charitable activities include conferences and workshops around the world, and the development of resources for churches.
## **Statement of Trustees Responsibilities**
The Charities Act require the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial period. In preparing those financial statements, the directors should follow best practice and:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
- 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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for the contents of the Trustees’ Report.
7
**Freedom in Christ Ministries International**
## **Report and Unaudited Financial Statements for the year ended 31 December 2021**
## **Members of the Trustee Body**
The Trustees who served during the year and up to the date of this report are set out on page 4. Approved by the Trustees on 11 May 2022 and signed on their behalf by:
**Rodney Woods** (Chair of Trustees)
8
Freedom in Christ Ministries International
Report and Unaudited Financial Statements for the year ended 31 December 2021
Independent Examinerfs Report to the Trustees
I report to the trustees on my examination of Ihe accounts for Freedom in Christ Ministries
International for the year ended 31 December 2021 which are set out on the attached pages
10-15.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 (Ihe Act.).
I report in respect of my examination of the Trust's accounts carried out under section 145 of
the 2011 Act and in Garrying out my examination, I have followed all the applicable Directions
given by the Charrty Commission under section 145(5)(b) of the Act.
Independent examinerfs statement
I have completed my examination. I confirm that no material matters have come to my
attention in connection with the examination which gives me cause to believe that in, any
material respect..
the accounting records were not kept in accordan with section 130 of the Charities
Acl-, or
the accounts did not accord with the accounting records.. or
the accounts did not comply with the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2008
other than any requirement thal the accounts give a 'true and fair. view which is not a
matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection wilh Ihe
examination to which attention should be drawn in Ihis report in order to enable a proper
understanding of the accounts to be ached.
Alan Crosse
3 March 2022
**Freedom in Christ Ministries International**
**Report and Unaudited Financial Statements for the year ended 31 December 2021**
## **Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 December 2021.**
|**Note**
**Incoming resources**
**Incoming resources from generated funds**
Voluntary income
General Donations (including tax recovered)
**3**
Donations for International Meeting (inc tax recovered)
**3**
Donations for creation of new resources
**3**
Investment income
**Incoming resources from charitable activities**
Materials sales
Streaming Income
Platform Fees
Event Income
Speaking Fees
Royalties
**Total incoming resources**
**Resources expended**
Cost of generating voluntary income
**4**
Cost of charitable activities
**4**
Costs of governance
**4**
Costs of administrative support
**4**
**Total resources expended**
**Net incoming resources**
**Total funds at 1 January 2021 b/fwd**
**Net income / (expenditure) for the year**
**Total funds at 31 December 2021 c/fwd**
**11**|**2021**
**Unrestricted**
**Funds**
**£**
78,049
-
-
-
18,880
15,552
14,060
-
50
11,691
**138,282**
9,350
111,807
4,235
-
**125,392**
**60,852**
**12,890**
**73,742**|**2021**
**Restricted**
**Funds**
**£**
100,979
-
-
-
-
-
-
-
-
-
**100,979**
-
22,857
-
-
**22,857**
**14,503**
**78,122**
**92,625**|**2021**
**Total**
**Funds**
**£**
179,028
-
-
-
18,880
15,552
14,060
-
50
11,691
**239,261**
9,350
134,664
4,235
-
**148,249**
**75,355**
**91,012**
**166,367**|**2020**
**Total**
**Funds**
**£**
102,032
-
-
-
7,149
14,854
6,201
-
-
17,927|
|---|---|---|---|---|
|||||**148,163**|
|||||10,837
129,132
4,162
-|
|||||**144,131**|
|||||**71,323**
**4,032**|
|||||**75,355**|
10
**Freedom in Christ Ministries International**
**Report and Unaudited Financial Statements for the year ended 31 December 2021**
## **Balance Sheet as at 31 December 2021**
|**Balance Sheet as at 31 December 2021**||||
|---|---|---|---|
|**Note**
**Fixed assets**
Tangible assets
**7**
**Current assets**
Stock
Debtors
**8**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**9**
**Net current assets**
**Net assets**
**10**
**Funds**
Unrestricted funds
Restricted funds
**Total funds**
**11**|**£**
**£**
**596**
**531**
**31,651**
**157,166**
**189,348**
**23,577**
**165,771**
**166,367**
**73,742**
**92,625**
**166,367**
**2021**|£
£
1,474
476
3,495
99,982
103,953
30,072
73,881
75,355
60,852
14,503
75,355
2020||
||||75,355|
||||60,852
14,503|
||||75,355|
In preparing these financial statements:
- (a) The trustees are of the opinion that the charity is entitled to the exemption from audit conferred by Section 477 of the Companies Act 2006;
(b) No notice has been deposited under Section 476 of the Companies Act 2006, and
- (c) The trustees acknowledge their responsibilities for:
- (i) ensuring that the charity keeps accounting records which comply with Section 386 of the Companies Act 2006, and section 132 of the Charities Act 2011, and
(ii) preparing accounts which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its income and expenditure for the financial year in accordance with the requirements of Sections 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the charity.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the smaller companies regime within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard FRS102 effective (Jan 2015).
Approved by the trustees on 11 May 2022 and signed on their behalf by:
**Rodney Woods (Chair of Trustees)**
11
**Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2021**
## **Notes forming part of the financial statements for the year ended 31 December 2021**
## **1. Accounting policies.**
- a) The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard FRS102 published on 16/07/14, the Financial Reporting Standard FRS 102 (effective January 2015) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
- b) Voluntary income is received by way of donations, gifts and tax recoverable, and is included in the Statement of Financial Activities when received. The value of services provided by volunteers has not been included.
- c) Investment income is included when receivable.
- d) Incoming resources from sales of materials is included when receivable.
- e) Resources expended are recognised in the period in which they are incurred.
- f) Expenditure is recognised on an accruals basis. Details of the allocation of this expenditure is shown under Note 4 headed, "Total Resources Expended".
- g) Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, Computer equipment is depreciated over 3 years, all other items over 4 years. Items of equipment are capitalised where
- the purchase price exceeds £250.
- h) Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose.
- i) Restricted funds are to be used for specific purposes as laid down by the donors.
## **2. Taxation**
The CIO is exempt from corporation tax on its charitable activities.
|**3. Donations received (including tax recoverable)**
This comprises:
General Donations
Donations for International Meeting
Donations for New Resources
Restricted Donations - Translations
Restricted Donations - Other
4. **Total Resources Expended**
**Unrestricted**
Staff costs
Employer's National Insurance
Pension
Trustees expenses
Marketing
Internet site expenses
Cost of Material sales
Creation new courses
Royalties payable
Commisssion payable
FICMI Overseas visits
FICMI UK Travel
Event Costs
Equipping & Training Development Costs
International Meetings
International Giving
Other Ministries
Sundry International expenses
Minor office equipment
Computer & Software
Professional fees
Depreciation
Exchange rate variance
Bank/Paypal charges
Total unrestricted
**Restricted**
Translations
Other
Total restricted
Combined Total|Cost of
generating
voluntary
income
£
5,407
-
346
-
(657)
4,254
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
9,350
-
-
-
9,350|Cost of
charitable
activities
£
81,218
-
4,852
-
-
-
15,501
-
997
1,460
-
280
-
2,055
(357)
1,800
-
470
-
682
-
878
132
1,839
111,807
217
22,640
22,857
134,664|Cost of
governance
£
3,962
-
273
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,235
-
-
4,235|Costs of
adminis-
trative
support
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**2021**
**£**
78,049
-
-
5,811
95,168
**179,028**
Total
2021
£
90,587
-
5,471
-
(657)
4,254
15,501
-
997
1,460
-
280
-
2,055
(357)
1,800
-
470
-
682
-
878
132
1,839
125,392
217
22,640
22,857
148,249|**2020**
**£**
74,164
-
-
-
27,868|
|---|---|---|---|---|---|---|
|||||||**102,032**|
|||||||Total
2020
£
85,359
357
5,353
-
2,267
2,921
1,909
-
1,080
2,025
2,634
151
-
1,900
357
-
-
369
91
366
310
1,105
1,094
940|
|||||||110,588
474
33,069|
|||||||33,543|
|||||||144,131|
4. **Total Resources Expended**
12
**Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2021**
## **Notes forming part of the financial statements for the year ended 31 December 2021 (cont'd)**
|**Staff Costs**
Wages & Salaries
Employer's National Insurance
Pension costs
Staff costs include restricted related staff costs
The average number of full time equivalent employees:
All categories|**2021**
90,587
-
5,471
**96,058**
2.0|**2020**
**85,359**
**357**
**5,353**|
|---|---|---|
|||**91,069**|
|||2.0|
**5. Staff Costs**
Pension costs represent contributions made to a defined contribution scheme. Outstanding contributions at year end are shown in creditors.
|**6.**
**Trustees expenses & remuneration**
There were no trustee expenses or remuneration during the current year
**7.**
**Tangible fixed assets**
Cost
At 1 January 2021
Additions in the year
Deletions in the year
At 31st December 2021
Depreciation
At 1 January 2021
Charge for the year
Deletions in the year
At 31st December 2021
Net book value at 31st December 2021
Net book value at 31st December 2020
**8.**
**Debtors**
Trade debtors
Other Debtors
**9.**
**Creditors: amounts falling due within one year**
Taxation and social security
Pension
Other creditors and accruals
**10 Analysis of net assets between funds**
Tangible fixed assets
Current assets
Current liabilities
**Net assets at 31 December 2021**|**Office & IT**
**equipment**
**£**
3,312
-
-
3,312
1,838
878
-
2,716
**596**
1,474
**£**
250
31,401
**31,651**
**£**
245
6,609
16,723
**23,577**
**General**
**Funds**
**£**
596
96,723
(23,577)
**73,742**|**Office & IT**
**equipment**
**£**
1,160
2,152
-
3,312
226
507
-
733
**1,474**
2,579
**£**
-
3,495
**3,495**
**£**
219
4,592
25,261
**30,072**
**Restricted**
**Total**
**Funds**
**Funds**
**£**
**£**
596
92,625
189,348
-
(23,577)
**92,625**
**166,367**|**Office & IT**
**equipment**
**£**
1,160
2,152
-
3,312
226
507
-
733
**1,474**
2,579
**£**
-
3,495
**3,495**
**£**
219
4,592
25,261
**30,072**
**Restricted**
**Total**
**Funds**
**Funds**
**£**
**£**
596
92,625
189,348
-
(23,577)
**92,625**
**166,367**|
|---|---|---|---|
||||3,312|
||||226
507
-|
||||733|
||||**1,474**|
||||2,579|
||||**£**
-
3,495|
||||**3,495**|
||||**£**
219
4,592
25,261|
||||**30,072**|
||||**Total**
**Funds**
**£**
596
189,348
(23,577)|
||||**166,367**|
13
**Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2021**
|**Notes forming part of the financial statements for the y**
**11 Movements in funds**
**Unrestricted funds:**
**Restricted funds:**
**Translations**
**Russian Course**
**Translation Fund**
**Sri Lanka Course**
**Total Translations**
**Other**
**General Country Support**
**Italy Funding**
**Youth Resource Fund**
**Asia Pacific Fund**
**France Fund**
**Africa Fund**
**Quantum Leap Fund**
**New Publications Manager support**
**Latin America Director support**
**Total Other**
**Total Restricted funds**
**Total funds**|**ear ended 31 D**
**At 1st**
**January 202**
**£**
**60,852**
**726**
**5,122**
**111**
**5,959**
**603**
**775**
**-**
**-**
**5,006**
**-**
**-**
**-**
**2,160**
**8,544**
**14,503**
**75,355**|**ecember 202**
**Incoming**
**1 Resources**
**£**
**138,282**
**5,811**
**5,811**
**-**
**1,239**
**17,005**
**1,353**
**4,485**
**8,131**
**47,003**
**70**
**15,882**
**95,168**
**100,979**
**239,261**|**1 (cont'd)**
**Outgoing**
**Resources**
**£**
**125,392**
**217**
**217**
**-**
**150**
**-**
**(319)**
**5,324**
**-**
**3,538**
**52**
**13,895**
**22,640**
**22,857**
**148,249**|**Transfers**
**£**
**-**
**-**
**-**
**-**
**-**|**At 31st**
**December 2021**
**.**
**73,742**
**726**
**10,716**
**111**
**11,553**
**603**
**1,864**
**17,005**
**1,672**
**4,167**
**8,131**
**43,465**
**18**
**4,147**
**81,072**
**92,625**
**166,367**|
|---|---|---|---|---|---|
14
**Freedom in Christ Ministries International**
**Report and Unaudited Financial Statements for the year ended 31 December 2021**
## **Notes forming part of the financial statements for the year ended 31 December 2021 (cont'd)**
## **12 Prior Year Statement of Financial Activities**
|**Incoming resources**
**Incoming resources from generated funds**
Voluntary income
General Donations (including tax recovered)
**3**
Donations for International Meeting (inc tax recovered)
Donations for creation of new resources
Investment income
**Incoming resources from charitable activities**
Materials sales
Streaming Income
Platform Fees
Event Income
Speaking Fees
Royalties
**Total incoming resources**
**Resources expended**
Cost of generating voluntary income
**4**
Cost of charitable activities
**4**
Costs of governance
**4**
Costs of administrative support
**4**
**Total resources expended**
**Net incoming resources**
**Total funds at 1 January 2020 b/fwd**
**Net income / (expenditure) for the year**
**Total funds at 31 December 2020 c/fwd**
**11**|**2020**
**Unrestricted**
**Funds**
**£**
74,164
-
-
-
7,149
14,854
6,201
-
-
17,927
**120,295**
10,837
95,589
4,162
-
**110,588**
**51,145**
**9,707**
**60,852**|**2020**
**Restricted**
**Funds**
**£**
27,868
-
-
-
-
-
-
-
-
-
**27,868**
-
33,543
-
-
**33,543**
**20,178**
**(5,675)**
**14,503**|**2020**
**Total**
**Funds**
**£**
102,032
-
-
-
7,149
14,854
6,201
-
-
17,927
**148,163**
10,837
129,132
4,162
-
**144,131**
**71,323**
**4,032**
**75,355**
|**2019**
**Total**
**Funds**
**£**
69,259
8,267
16,732
-
14,791
19,805
-
9,410
100
18,666
|
|---|---|---|---|---|
|||||**157,030**|
|||||4,205
116,243
2,644
-
|
|||||**123,092**|
|||||**37,385**
**33,938**|
|||||**71,323**|
15