41 FREEDOM IN CHRIST Freedom in Christ Ministries International (A Charitable Incorporated Organisatlon) Report and Unaudited Financial Statements For the Year Ended 31st December 2023 Charity number 1160065 Freedom In Chrlst Mlnistriès Intematlonal Report and Unaudlted Flnancial Statements for the year ended 31 December 2023 Contents Reference and AdnNnlstratlve Intsmalion Structure. Governance and Management ot4edNes and Actiwt￿s Achievements and PerkJrm8nce Plans for Future Periods Finanrial Review Stat&mènt of Trustees Responsibilities Independent Examlnerfs Report lo the Twu5tees Statement of the Unaudited Financial Activities for the year ended 31 December 2023 10 Balan￿ Sheet for the year ènded 31 December 2023 Noles forming part of the financial statements for the year ended 31 December 2023 12-14 Freedom in Chrlst Mln18trles International Report and Unaudltsd Flnanclal Statements for th* year ended 31 December 2023 Reference and Administrative Infomiation Charity N￿ne Freedom in Christ Ministries International Charity Registration No. 1160065 Principal Office address 4 8eacontr6tr Plaza Gillette Way Reading Berks RG208S Tru8tees Rodney Wtsods IUKI Chair Mano Daniel {Indial Judith King IUSAI James Wanje IUSAI Natall Alonso Hemadez IBrazill Executive Dlrector Stephen Goss Bank•r8 CAFBank Ltd, Kings Hill, Kent ME19 4JQ Independent Examin•r Daly Park & Company Ltd, 4 Carnegie Street, Lurgan Co Armagh BT66 6AS Freedom in Christ Mlnlstrles Intsrnatlonal Report and Unaudited Flnanclal Ststements for the year ended 31 D•¢gmbor 2023 Structure, Governance and Management Governing Document The organisation is 8 Ch8rit8ble Ir￿1pOrated Organisation ICIO), incorporated on 17 October 2014 and registered a5 a charity on 21 January 2015. The CIO was established under a Constitution which established its objects and power5 and set out how it should be govemed. Recruitment and Appointment of Trustees Under the terms of the CIO'S Constitulion, members of the 8tsard of Trustees are élected to serve for a period of three years after which they rnusl be reelected. Trustees are each elected to represent a p8tbcul8r geographic region of the world.. Africa, Asla Pacific", Europe". Lafjn America,. and North America and The Carlbbèan. Nominations are made by Freedom In Chrisrs offices and Representative5 in e8th region and are voted on by all of our offices and Representslives around the world. Orggnisational Structure Day to day operatSonal leadership is delegated by the Board of Trustees to an Executive Director {EDI who is 5UPPOrted by a management team and a team of area dire¢tors. The Board of Trustees is a policy-making Board, having adopted the Carver principles of govemance. It sets policies that limit the freedom of the Executive Director where that is needed and sets policies forthe strategic ends of the Charity for a rolling 3-5 year plan Ihatis reviewed each year. For govemance, the Board of Trustees interfaces only with the ED, who Is free to make decisions within the bounds of the strategic plan and govemance parameters. The ED provides 8 report to the quarterty Board meetings that record5 progress against objectives and the strategic plan, and any exceptions to governance parameters. Related Partles A number of nork-profit organisations around theworfd havè agreed to conductjoinl ministry under the aegis of the CIO according lo the lemis sel out in a Joint Ministry Agreement that 08th one reaffirms annually. These are referred to as'National Offi￿S. or"Partner Ministries". Objectives and Actlvltles Charltable Oblects The Object of the CIO is, for the public benefit, the advancemenl of the Christian faith in accordancewith its Statement of Faith and Core Values in such ways as the charty trustees may from tlme to tlme declde. Primary Objectlve The mission of FICMI is to glorify God by equipplng the Church worldwide. enabllng It to make fruitful disciples by establishin9 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 maln 8Ctivitlè$ 8re'. Oversee the creation, translation and effective distribution of discipleship resources for church leaders around the worfd. Manage the establishment ofNational Representatives in new countriesas opptsrtunities arise. Frgedom Sn Chrfst Ministries Intemational Report and Unaudited Financial Statements for the year ended 31 Decgmbgr 2023 Oversee National Representstives, Nats"onal Offi¢e3 and Partner Ministries in order that they become more and more established, mature and •ffective. Aehievemenls and Perfomiance We continue tts see new national leaders added throughoulthe world wth leaders appointed. Trnnsform. our 9-tnonlh personal discipleship and equipping course for church lead6rs, was expanded to 735 participants from around 30 countries. We invested heavily in a new online platForm, Discipleship Hub, and a nèw version of The Grace Course that was filmed ready forlaunch in 2024. This will be our most cornprehensive resource lo date and was produced In collaboration with RightNow Media. Bethany House. and Youversion. We published fvrther books In our new Tr8nsforming ￿scipleshAp Imprfnt. GEN, a significant new disapleship resource foryouth was launched in Spanish. tha first time we produced a resourcè wth Spanish-speaking presenters. In Kqay around 200 leaders from ourteams around the worf¢J ¢￿rne togelhertor a conference In the UK. Plan¥ for Future Perfods A number of significant new resources for churehe$ are being developed, including The Grace Course which is due to launch in 2024 in both English and Spanish, the Spanish version being produced wlth Spanish-speaking presenters, and Discipleship Hub. Flnanelal Review Prèsentation of the financlal stat•m8nts The ai*ounts lfinaricial statements) h8vÈ been prepared in accordance wth the Statement of Recommended Practice." Accountin9 and Reporting by Charities preparing their a¢¢ounts In accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 18 July 2014, and the Financial Reporting Standard applicable in the UK and Republic of Irèland IFRS 1021, and the Charits"es Act 2011 and UK Generally Accepted Practi¢e as it applies from 1 January 2016. The accounts (financial statemenl$l have been prepared to give a true and fairf view and have departed from the Charities (Accounts and Reports) Regu18tions 2008 only lo the extent required lo provide a'true and fair view,. This departure has involved following the Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard appli￿ble in the UK and Republic of Ireland {FRS 1021 i5SLJed on 16 July 2014. rather than the Accounting and Reporting by Ch8rities'. Slalement of Recommended Praclice effective from 1 Aprtl 2005 which h85 since been withdrawn. Reseryes Pollcy The Trustees have set a policy on r&5erves that there should be sufficient for normal expenditure ofa minimum of 3 months, and maximum of 12 months. During the financial year, the reserves were in this range. Publle Bèneflt In setting our objèctives and planning our activilies for the year tre trustees h8ve given carefvl consideratton to the ChaThty Commi55ion's statutory guidance on public benefit to ensuie that the activilles have helpèd achieve the Charity purpose and provide a benefit to the beneficiaries. Freedom In Christ Mlnlstrlos Intematlonal Report and Unaudited Financial Statements for the year ended 31 Docembfrr 2023 Inv¢$tment Pollcy The Charity therefore does not seek to investfor the sake of incoma. Prlnclpal fundlng resources The total income from all 50urceJ for the year ended 31 December 2023 was £352.217 {2022'. £235.2141 and tot81 expenditure £419,57212022". £259,361). Un￿StrICted income was £255,16412022'. £191.6491 and expenditurè was £300,83512022.' £162,459). Unrestricted Income came mainly from International Meeting Income and Donations 39%. General ¢Jonations 18%, Material sales and Streaming Income 28% and Royalties 15Wo. The mix of income sources and pricing policies are currently being reviewed to ensure sustsinabillty of th8 ministry into the future. The Charty has no physical office and makes good use of open-source web-based syslerns lo facilitate on-line givlng to speafl¢ projeds. Administrative costs are well below 10% of total expenditure. Charitable activities include conferences and workshops around the world, and the developrnenl of resour￿$ for churches. Fragdom In Christ Ministries Intemational Rgport and Unaud5ted Financial Statements for the year ended 31 December 2023 statement of TTUStees Responsibiliti8S The Charities Act ￿qu￿re the TN51ee5 to prepare finanoal statements for each finandal perfod which give a true and fair view of the stale of affairs ol the charity as at the balance sheet date and of its incoming resources and applulion of re50urce5, including incorne and expenditure, for the financial period. In preparing those financial statements, the directors should follow best practice and= select suitable a¢¢ounling policies and then apply them conslstenlly.. observe the methods and prSndples in the Charities SORP., make judgments and estimates th8t ale reasonable and prudent.. state whether applicable UK Accounting Standards have been followed, subject lo any material departure5 disclosed and explained in the financial statements. and prepare the financial statement5 on the going cOn￿M basis unless il is inappropriate to presume Ihal the charity will continue in business. The trustèes arè responsible for keeping proper accounting records that disclose wlh reasonable accuracy al any time the financial position of the charity and lo enable them to nsure that the financial statements comply with the Charities Act 2011. the applicable Charities (Accounts and Reports) Regulaltons, and the provisions of the Trusl deed. They a also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detoction of fraud and other irregularities. The Trustees are also reswnsibk for the contents of the Trustees, Re￿rt. Members of the Tru¥tee 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 27 May 2024 and signed on their behalf by.. Rodnèy Wood¥ Ichair ofTrustees) Freedom in Christ Minlstrles Intemational Report ond Unaudited Flnanclal Statement8 for the year ended 31 December 2023 Independent Examinerfs Reportto th• Trustee¥ I report to the charity trustèas on my exanunalion of ihe accounts ofthe Company for the year ended 31 December 2023. Res onsibililles and b As the charity's trustees of the Company land also ils directors for the purposes of company18wI you are responsible for the preparatron of the accoun15 in accordance with the requirements of the Compan￿$ Act 20061'lhe 20Ce Acfl. Having Satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible foi independènt examination, I repori in respect of my examination of your chaiity's accounts as carried out under section 145 of the Chaiffjes Act 2011 {'Ihe 2011 Act'l. In carrying out my exarninalion I have followed the Directions given by thè Charity Comrnission under section 145151 Ibl of the 2011 Act. Inde endent examlnefs statem Since the Company's gross income èxcèeded £250,000 your examiner must be a member of a body listed in sectlon 145 of the 2011 Act. I confirm that l am qualified tts ur)dert8ke the examination becaus6 l am member of Chartered Accountants Ireland, whkh Is one of the listed bodies. I have completed my examination. I conffmi that no matters have come to my attèntion in connection with the examination giving rne cause to believe.. accounting recorils were not kept in respect of the Company a$ required by $edton 386 of the 2006 Act.. or 2. the accounts do not aCc￿d wfth Iho$e records.. or 3. the accoullts do rTrol compty with the accounting requirements of s8ctioll 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter onsidered as part of an independent èxamination., or 4. the accounts have not been prepared in accordance with the method5 and PTinciple5 of the Staternent ol Recommended Practicè ft>r accounting and reporting by charities lapplicable lo charities preparing their accounts in a¢¢ord8nce wrth the Financkal ReportiThJ Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection with Ihe examinats.on to whi¢h attention should be drawn in this report in order to enable a proper understsnding of the accounts to be re ched. Signed.. Ruairi Maginn FCA Bsc Chartered Accountants reland Daly Park & Company Ltd 4 Came9ie Streèt Lurgan Co Armagh BT66 6AS Date '. 231idL Freedom in Chrfst Mlnlstries Interrtrational Report and Unaudlted Flnanelal Statément¥ for the year ended 31 December 20ZJ statement of Flnanclal Actlvltles Iln¢ludlny In¢ome and Expènditure Account) forthe yearenderj 31 D*¢¥mb*r 2023. 2D23 Noio Urbrvstrlctsd Fund> 2023 Re5trf¢ted Funds 2025 2ff22 Totsl Funds Fund5 Incoming resources Incomlng r•sour¢9$ from gen•rat•d frJnd8 Voluntary income Genwal Oon8bDn5 liw￿din9 lax reLv¥er4dl Donat10￿ for Iniemaiionai MeebThJ (Mc tax recoW￿l Donatio￿ forcreavon gfnew ￿¥Dur￿8 Inve51rnenl income 46.852 31.987 26,304 73,157 31,987 70.749 165.327 70.749 112 In¢omlng r•SOurt￿ frorn charitable act1¥￿e￿ Materials sal85 Streaming Inwme PlatTom Fe25 Event Income Sppakinu Fees Roy8lbes 36,816 18.460 18.925 66.391 35.81S t8,4eo 1S,925 6S,391 27.031 1S.375 11.963 37.671 37,671 15,4C6 Totsl Incomlng resour¢es 255.164 97,05J 351217 235.214 Resources expended Cost of g￿erating ¥rAunlary ￿cOme 12.824 11624 12.301 ¢)stOt¢haritable￿ty￿tt8$ 280,175 118.738 398,912 242,3S7 Costs ofgovem•r .036 8.Q35 4.703 C05t5 ofthini5trativesupport Total resoutc¢s oxpended 2iM).835 118.738 419,572 259,361 Net incorning resources T¢)tslfundg Otl January2023 bthvd 102,932 39.288 142.220 188A87 Netlncornell&xpendltur•l fortho y•ar {45,6701 {21,684) 167J551 1241471 Tr•n$fer¥ l>trtYfftn fvnd5 11 13641 364 Total lunds at 31 D•¢ember 1023 C1￿¥d 66A98 17.968 74M66 4{220 Freedom In Christ Mini$trie$ Intemational Report and Unauditsd Financial Ststements forthè yearended 31 December 2023 Balane• Sh•otA$ #t 31 Dècember 2023 Flxod $$88 TW91b￿a$s8ts Current￿sets $30 37,916 167.461 225,916 Deblo Cagh al bar* and in hwd 45,997 $$,397 111Q67 Cr£dltors.' amountsfalllThJ du• on$ y•8r J7,7*1 N4tcurront a5s4ts 7427$ 141,284 N•tas80ts io 74,886 141220 FtTnd¥ Unre$lrt¢ied lunds Restncted fvnds 56,898 17,968 102.W32 39.28B Tothi fund9 74,8$6 142.220 In p￿paring the¥efinaNa staternenl&' lal Thetrusteesare oltheopinion th31 the charfty eNiUed kn ￿8￿e￿WIl¢￿ fr738 Sfi75 2$.73S CoThlradorLY&ts 24022 lThterne1J￿￿p￿11 11,59 24.12Q PuyilJpsp•y•N d42 l.aQ7 FICMIiX At31sl DgE4rnty•r2D25 1.767 fl•lboOkw*u•￿ll$tD0tXwn￿r2ttèJ N•1bOok￿U*at3l1lo￿thknOr2tr2 Trndlldib J7,WS Trad•