41 FREEDOM IN CHRIST Freedom in Christ Ministries International (A Charitable Incorporated Organisation) Report and Unaudited Financial Statements For the Year Ended 31st December 2024 Charity number 1160065 Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 Contents Reference and Administrative Information Structure, Governance and Management Objectives and Activities Achievements and Performance Plans for Future Periods Financial Review Statement of Trustees Responsibilities Independent Examiner's Report to the Trustees Statement of the Unaudited Financial Activities for the year ended 31 December 2024 Balance Sheet for the year ended 31 December 2024 10 Notes forming part of the financial statements for the year ended 31 December 2024 11-14 Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 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 OBS Trustees Rodney Woods (UK) Chair Natali Alonso Hernadez (Brazil) John Fugate (USA) - appointed 27 May 2024 Raffic Osman (Netherlands) - appointed 27 May 2024 James Wanje {USA) - resigned 10 April 2024 Tak Vui Lee (Malaysia) - appointed 27 May 2024, resigned 2 February 2025 Mano Daniel (India)- resigned on 10 April 2024 Judith King (USA) - resigned on 10 April 2024 Executive Director Stephen Goss Bankers CAF Bank Ltd, Kings Hill, Kent ME19 4JQ Independent examiner Robinsons Consulting Limited, 5 Underwood Street, London, N17 LY Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 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 accordan￿ 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. Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 Oversee National Representatives, National Offices and Partner Ministries in order that they become more and more established, mature and effective. Achievements and Performance We continue to see new national leaders added throughout the world with leaders appointed. Transform, our 9-month personal discipleship and equipping course for church leaders, was expanded to 735 participants from around 30 countries. We invested heavily in a new online platfom, Discipleship Hub, which we hope to launch in 2025, and in completing the development of the new version of The Grace Course which was launched in October 2024. This is our most comprehensive resource to date and was produced in collaboration with RightNow Media, Bethany House, and Youversion. In its first three months it was the second most-viewed international resource on RightNow Media's platform. A Spanish language version of the Grace Course, El Curso De La Gracia. with Spanish- speaking presenters, produced in Latin America, was released at the same time as the English resource, a first for the ministry. We published further books in our new Transforming Discipleship imprint specifically developed to accompany the Grace Course, and again available in Spanish as well as English at the time of launch. Plans for Future Periods A number of significant new resources for churches are being developed, including The Marriage Course and Becoming the Church God Desires, and a Spanish version of Lightbringers, our resource for children. Financial Review Presentation of the financial statements The accounts (financial statements) have been prepared in accordan￿ with the Statement of Recommended Practi￿. 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 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. Unfortunately, with the significant investment in the Discipleship Hub and Grace Course during the financial year, the reserves fell below this range, but steps were taken to ensure that the organisation had sufficient cash flow to operate and would begin to build up reserves. This situation will be Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 kept under review and any necessary steps will be taken to safeguard the assets and reputation of the organisation and the interests of its stakeholders. 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 2024 was £240,140 (2023: £352,217) and total expenditure £291,952 (2023: £419,572). Unrestricted income was £194,686 (2023: £255.164) and expenditure was £248,484 (2023: £300.835). Unrestricted Income came mainly from Generated Income through Material Sales, Streaming and Event or Programme Subscriptions 48 % , Donations 34 % and Royalties 18 % . The mix of income sources and pricing policies are periodically reviewed to ensure sustainability of the ministry into the future. and some changes were implemented in the current financial year. 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 reSoUr￿S for churches. Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 Statement of Trustees Responsibilities The Charities Act requires 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. 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 1 April 2025 and signed on their behalf by: SIGNED SECURELY 0911012025 al 10.'02.'36 All UTC Rodney Woods (Chair of Trustees) **Freedom in Christ Ministries International** ## **Report and Unaudited Financial Statements for the year ended 31 December 2024** ## **Independent Examiner's Report to the Trustees** I report to the trustees on my examination of the accounts for Freedom in Christ Ministries International for the year ended 31 December 2024 which are set out on the attached pages 9-14. ## _**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 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## _**Independent examiner's 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 accordance with section 130 of the Charities Act; 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 that 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 with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Goh lol Joseph Robinson FCCA Robinsons Consulting Limited Chartered Certified Accountants 5 Underwood Street London N1 ?LY ## Date: 30 September 2024 8 Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 December 2024 2024 Note Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2023 Total Funds Incomlng resources Incoming resources from generated funds Voluntary income General Donations (including tax recovered) Donations for International Meeting lin¢ lax recoveredl Donations for ¢realion of new resources Investment income 63,857 1.936 23.371 87,228 1,936 22,084 42 73,157 31,987 70,749 62 22,084 42 Incomlng resources from charltablo actlvltles Materials sales Streaming Income Platform Fees Event In￿me Speaking Fees Royalties 51.250 19,252 16,883 6,262 51,250 19,252 16,883 6,262 36,815 18,460 16,925 66,391 35,203 35,203 37,671 Total incoming resources 194,686 45,454 240,140 352,217 Resources expended Cost of generating voluntary income 8,063 8.063 12,624 Cost of charitable activities 232,711 43,468 276,179 398,912 Costs of governance 7,710 7,710 8,036 Costs of administrative support Total resources expended 248,484 43,468 291,952 419,572 Net incoming resources Total funds at 1 January 2024 blfwd 56,898 17,968 74.866 142,220 Net incomg I lexpenditurg) for thg year 153,798) 1,986 (51,8121 (67,3541 Transfers between funds 11 339 13391 Total funds at 31 December 2024 clfvid 11 3,438 19,615 23.053 74.866 Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 Balance Sheet as at 31 December 2024 2024 2023 Noto Fixed assets Tangible assets 245 590 Current assets Stock Debtors Cash at bank and in hand 3,190 45.521 35.709 84.420 673 45,997 65,397 112,067 Creditors: amounts falling due within one year 37,791 Net current assets 22,808 74,276 Net assets 10 74,866 Funds Unrestricted funds Restricted funds 3,438 19,615 56,898 17,968 Total funds 11 74,866 In preparing these financial statements.. 18} 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., Ibl No notice has been deposited under Section 476 of the Companies Act 2006. and Icl The Iruslees aCknO￿edge their responsibilities for.. lil 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 lill preparing accounts which give a true and fair view of the slate of affairs of the charity as al the end of the financial year and of its income and expenditure for the financial year in accordance wth the requirements of Sections 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006, so far as applicable lo the charity. These financial slalements have been prepared in accordance with the provisions applicable lo companies subject to the smaller companies regime wlhin Part 15 of the Companies Ad 2006 and with the Financial Reporting Standard FRS102 effective (Jan 20151. Approved by the trustees on 1 April 2025 and signed on their behalf by- SIGNED SECURELY 0911012025 at 10..02..36 AM UTC Rodney Woods (Chair of Trustees) 10 Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 Notes forming part of the financial statements for the year ended 31 December 2024 1. Accounting policies. al The financial slalements have been prepared in accordance with Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard FRS102 published on 16107114. the Financial Reporting Standard FRS 102 (effective January 20151 and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy nolelsl. bl Voluntary income is received by way of donations, gifts and tax recoverable, and is included in the Slalement of Financial Activities when received. The value of services provided by volunteers has not been included. cl Investment income is included when receivable. dl Incoming reSOur￿S from sales of materials is included when receivable. el Resources expended are recognised in the period in which they are incurred. fj Expenditure is recognised on an accruals basis. Details of the allocation of this expenditure is shown under Note 4 headed, "Total Resources Expended.. gl Depreciation is provided al rates calculated lo 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 capilalised where the purchase pri￿ exceeds £250. h) Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charily wlhoul further specified purpose. il Restricted funds are lo be used for speafic purposes as laid down by the donors. 2. Taxatlon The CIO is ex8mpl from corporation tax on its charitable activities. 3. Donatlons recelved Ilncludlng tax recoverable) This comprises.. General Donations Donations for Inlemalional Moeling Donations for New ResoU￿8S Reslricled Donations - Translations Reslricled Donations - Other 2024 2023 63,857 1,936 22,084 46,852 31,987 70,749 23,371 111 247 26,304 175 893 Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 4. Total Resources Expended Cost of generating voluntary income Cost ol charitable activities Cost of gov8manc8 Costs of Total 2024 Total 2023 adminis- trative support Unrestrlcted Stsff costs Employerfs National Insurance Pension Contractor costs Marketing Internet site expenses Cost of Material sales Royalties payable Commisssion payable FICMI Overseas visits FICMI UK Travel Event Costs Equipping & Training Development Costs International Meetings International Giving Sundry International expenses Computer & Software Independent Examination Professional fees Depreciation Exchange rale variance BanklP8ypal charges Total unreslricled 5,145 205 2,572 78,781 3,392 37,411 24,612 486 21,462 46,091 405 3,146 605 3,182 4,417 189 2,104 88,343 3,786 42,087 24,612 486 21,462 46,091 405 3,146 605 3,182 119,181 1,056 5,675 26,736 1,612 16,889 24,220 442 1,529 1,217 89,950 262 9,522 9,522 433 1,633 1,364 1,920 472 346 4,723 1,176 300,835 141 141 1,079 1,000 1,079 1,000 345 1,696 495 232,711 345 1,696 495 248,484 8,063 7,710 Restricted Translations Other Total restricted 111 118,626 118,738 43,468 43,468 43,468 43,468 Combined Total 276 179 291952 419,572 2024 2024 Unrestrlcted Restrlcted Funds Funds 2024 2023 5. Staff Costs Total Total Wages & Salaries Employevs National Insurance Pension costs 88,343 3,786 42,087 3,615 138 289 91,958 3,924 42,376 138 258 119,181 1,056 5,675 125,912 Staff costs include reslricled related staff costs The average number of full lime equivalent employees.. All categories Pension costs represent contributions made lo 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 Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 Notes forming part of the financial statements lor the year ended 31 December 2024 (cont'dl 7. Tangible fixed assets Office & IT equipment Office & IT equipment Cost At 1 January 2024 Additions in the year Disposals in the year At 31st December 2024 4,347 4,347 4,347 4,347 Depreciation At 1 January 2024 Charge for the year Disposals in the year At 31st December 2024 3,757 345 3,757 345 4,102 4,102 Nel book value at 31st December 2024 245 245 Nel bcx)k value at 31st December 2023 590 590 Debtors 2024 2023 Trade debtors Other Debtors and Prepayments 31,701 13,820 27,884 18,113 9. Creditors- amounts falling due within one year 2024 2023 Trade creditors Taxation and social security Pension Other creditors and accruals 18,165 2,211 34,560 6,675 11,124 2,199 4,354 20,114 10. Analysls of net assets between funds General Restricted Funds Funds Total Funds Tangible fixed assets Current assets Current liabilities Net assets at 31 December 2024 245 64,524 61,331 245 84,420 61,612 19,896 281 13 Freedom in Christ Ministries International Report and Unaudited Financial Statements for the year ended 31 December 2024 Noles forming part of the financial statements lor the year ended 31 December 2024lcont.dl 11. Movements in funds At1st January 2024 Incoming Outgoing Resources Re$our¢es Transfers Al 31st December 2024 Unrestricted funds: 194 686 248 484 339 Restricted funds- Translations Russian Course Translation Fund 726 5.401 726 5,401 Totsl Translations 6.127 6.127 Other General Country Support Italy Funding Youth Resource Fund Asia Pacific Fund France Fund Africa Fund Quantum Leap Fund New Publication5 Manager support New Grace cour5el Faith, Freedom & Fruitfulnes5 Latin America Director support Canada Fund Africa Area Director support European Area Director support Total Other 616 1.091 10} 2.801 616 (o) 1,089 222 2,276 5,712 300 1781 525 5.983 2.885 (2711 10 2.895 18 3.994 2.345 976 18 21.784 11.740 25.778 12.438 976 239 1,647 2.163 600 45.454 1,924 600 13,488 11.841 43.468 (3391 Total Restricted funds 43 468 339 Total funds 291.952 12. Ind8p&ndent examination fe8 2024 2023 Fees payable lo the independent examiner for Independent examination of the financial slalements 1,920 14