Charlty numbor: 1200235 MEDICAL MISSION NETWORK TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
MEDICAL MISSION NETWORK CONTENT8 Page Referonce and admlni$trative details of the Charity, its Trustees and advisers Trustses. report Indopefident audltor8' roport on the flnancial statements 8-11 Statement of financial actlvltle$ 12 Balan¢0 sheet 13 Slatoment of ¢a¥h flows 14 Notes lo Ihe financlal statements 15-32
MEDICAL MISSION NETWORK REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEPdlBER 2024 Tru8tees Raymond Alen Jordan Connell Jason Freeman Peter Gill (resigned 27 January 20251 David Keith, Chair Jane Macnaughtan Samuel Phillip5 lan Proud Christine Sansom Charity regl8tered number 1200235 Prlnclpal offi¢0 Unit 16 Star West Westmead Drive Swindon Willshire SN5 7SW Ind6pondent audftors Balolwn Scofield Ltd Chartered Accountants 3 Newhouse Business C8ntre Old Crawley Road Horsham West Sussex RH124RU Bankers CAF Bank Limited 25 lfjngs Hill Avenue Kings Hill West Malling Kent ME19 4JQ Page 1
MEDICAL MISSION NETWORK TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the audited financial statemen15 of the Medical Mission NeOrk forthe year 1 January 2024 to 31 De¢ember2024. Medical Mission NeOrk IMMN} continues to support those making Jesus Chnst known through the provision of healthcare in pla$ where the healthcare Systems are under-resOurd. Followng the year end, trustees decided to change the name of the organisation to better reflect who we are, what we do and where we would like lo go. though our name has changed from Medical Missionary News to Medical Mpssion Neork. our purpose remains the same. We continue lo support medical mission with the focus now more on the projects that they work in rather than the mission workers themselves. We do more than send out the magazines with stories and needs to pray for. we aim to connect those who wants to pray or give with partners, provide support lo partner5 and help Ih05e Icx)king to go with F4)lential opportunities lo train or serve. Therefe, we feel Network better describes this. We recognise that God has used MMN in so many amazing ways since the Charity was established that we want lo keep the MMN letters to remind ourselves of this and to remember God's faithfvlne55 to us over so many years. Objectives and actlvltles • Objectivesi purposos and alms The charity was set up in 2022 as 8 succeeding charity of Medical Misstonary News Fund (charity number 229296) for the purpose of continuing to support those involved in medical work in the under-resourced countries of the wodd and to benefit the public by the relief of wvety and the advancement of religion. In setting objectives and planning for activities, the Trustees have given due consideration to general guidan¢9 published by the Charty ComMison relating to public benefit. including the guidance 'Public benefit. running a charity IP82)'. • Vision Our desire is to support those who are making Jesus Christ known to their local communrties and are using the provision of healthca services as the way of connecb.ng with them. • Valu The way that we suppjrt medical mission have adapted over the years to the changing needs and circumstances of those inVoed but we remain committed to communicating the love of &Jd through Jesus and the alleviatson of suffering. The values that underpin all we seek to do remain the same and are.. . Christ<entred - We strive to make Jesus Christ known lo local communities by using healthcare servi$ as the means of conne¢b'ng with them Medical We want to help those who live in resources Foor countries who have lithe or no access lo healthcare Professional - We expect hyh standards of medical, financial and administrative work to ensure the best use of resources . Impactrul- We want what we do to be life<hanging to those we mlnlster to Sustainable - We seek to ensure that Ihe minislry has a long term futu Page 2
MEDICAL MISSION NETWORK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Objectlves and activities (contlnuedl What we do We partner with those in involved in making Jesus Christ known as they bring relief from disease, sickness and suffering in their local community- be il 5UPPOrting mission hospitals or clinics, providing community health care programmes, caring for the disabled and orphans, developing health educatson programmes or providing disaster relief. The ways we do il a through.. Encouraging pr8yor support for the ministries through sharing stories and prayer requests through all our communitiOn channels trusting il will inspire people lo pray lor the needs and situabons that are shared. Giving gTrnts to Christian organisations to enable them to engage in medical mission in their Ial communities. Shipping SUpplS such as medicines, medical aids. and equipment lo mission hospitals and clinics via containers shipments. Supporting training of medical professionals and students to enoourage them to use their rned81 skills and 8xpenence as a way of serving God and reaching others with the good news of Je5US. . Where we work We work to help those in resource-poor countries Whe there is no. or very little, healthcare facilities available to the local community- Therefore, our focus is primarity in Africa, Asia, and Eastern Europe with a litde help given to Lats"n America and we are currentty conne¢ted wth around 60 projects in over 30 countries • Ensurlng our work delivers our ai We VIeW our aims, objectives and actsvities each year. The revw looks at what we have achieved and the oulcorne of our work in the last year. The review looks at the success of ea¢h key aclivity and the benefits they have brought lo those groups of people we are set up to h8lp so that we remain focused on our staled wrpose and ensure that is for the public benefft. Page 3
MEDICAL MISSION NEfwoRK TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance • Charitable activitigs Medical Mission Netsvork seek to make Jesus known through supporting Christian mission as they seek to bring relief from disease, sickness and suffering in various parts of the wodd through the provision of healthcare serviGes, education and training, and prayer. Encouraging prayer This continues to be our main focus. As we Sha sloftes and prayer needs from over 60 partners we want people to pray in response to reading what God is doing in local communities as the love of Jesus is shared both in word and action. We do this through a variety of different channels from the magazine to social media. through the website, newsletter and prayer gatherings. Giving gTrnts We have continued working with Christian organisabons who are seeking to help their communrties physically, emotionally and spiritually by provbjing funding in a variety of different ways. During the year trustees were ale lo give grants that amounted lo £259,903, to 27 of our partners. Trustees have agreed that they would prefer lo grant smaller amounts to help more partners. so all of the* grants come into this category and have been used to help our partner5 provide medical care and humanitsrian support to their local communities. We have ¢onts'nued to share stories where our partners have a particular need and have seen our supwrters respond to these needs and give generously to supp)rt our partners. We have been able to distribute over £48,000 as a su11, with the most significant king lo pass on the funds raised in our Christmas appeal for improving the maternal care ServIS at Berakhah Medical Centre in Uganda. This year our frLus was to raise awareness of the need5 and challenges that Emanuel Clinic faces in caring for those coming towards the end of their lives in Moldova. Through various campaigns and fundraising efft)rts. we have raised over £22.000 towards these services and will forward thg funds in the new year. Shipping SUpplS During the year we have shipped 3 containers to Zambia and Angola which follows th8 trend of the last Cou9 of years as more goods are available locally and those organising the collecb'on of goods here grow older. Supporting tr8ining Medical electives is the area where we have seen the most growth now that medical Schools are now fully supporbng overseas electives again. During the year we were able to give bursaries to 18 Students who have been to medical mission projects in various part of the world. It has been exciting to follow the joumeys of the young UK doctors, nurses, m'hlwves and physios who are on the Global Track programme we help Christian Medical Fellowship to run, as they consider Combining their medical skills with their faith and see what God can do through them. One cohort finished their programme in March 2024 with another cohort slarbng in September. Flnanclal review Golng con¢orn We have revwed the circumstances of the charity and consider that it is a going ¢oncem, and that there will be sufficient resources available to fund the activities for the foreseeable future. Page 4
MEDICAL MISSION NETWORK TRUSTEES. REPORT (CONTTNUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 • Revlew of activities This year we received significant legacies which nearly doubled our income from previous years. These legacies were 5 limes our average level in recent years and have been put into investrients wrth the aim of grong the income stream from them to a level that will cover operating costs. Reserves now stand at £1.4m, which is an increase of £829K during the year. Investments have increased to cver £866K and will go over £1rn when the final legacy is transferred in 2025. Therefore, fr* reserves currently stand al around £400K which is sufficient for our ongoing MMitments. The general level of acb'vity of the charity remains in line with expectations if you take out the legacy income. There has been a change in the split in donated income beeen individuals and churches with the former increasing and the latter decreasing lif you take out the gift from a church closure). Expenditure is up as trustees have been able lo give out more grants as a result of the increased legacy income with the operating exFenditure only slighdy up in as a result of inflationary pressures. We have adopted the provisions of Accounting and Rewrting by Charities". Statement of Recommended PrtICe applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 102) (effective 1 January 20191. Investment policy and obJectiVO Our investment policy is geared towards a balanced growlh with minimum to medium risk with the aim of achieving a reasonable income. Investments wll not knowingly made in companies which manufacture or deal in amaments, alcoholic beverages, gambling, pornography or tobacco. Investment perforniance The market value of the investments has increased during the year which has given some growth and will increase in the coming years as the amount invested has increased SignificanY. R88eNos policy Trustees wll review the level of reserves brought over from the preceding charity and plan lo keep the r8serves at £500,000 which equates to more than 2 years, management and admini$lrab'on expenses. Large legacies are used lo inGrease these resetves to a level that will provide a future income stream Prlncipal fundlng The main source of income 18 from voluntary donations from individuals and churches along wth lega¢ie5. structuroj govgrnance and management • Governing document The charity is controlled by its goveming document, a constitution and is constituted a ch8nty incofpjrated organisatron. • Recruilm8nl and appointment of new trustees The t%)ard of trustees is auth0ri5ed to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. Page 5
MEDICAL MISSION NETWORK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, govornance and rnanagem8nt Icontinuod) Induction and training of new truste89 New trustees are selected because of their Christian beliefs and the expertise and competencies that they are able to offer. No specific training is required apart from the general trustee induction programme that the Charity Commission recommend. • Organisational structur The charity is organised so that the trustees meet regularty to manage its affairs. The trustees maintain a constant review of Iheir aotivities and functions and feel that the present structure is sufficient to meet MMN'S needs. The day to day managernenl of the charity rested with the director. Grev Parmenter. Wider network The Charity is not part of any wider netsvork. • Relatod parties Transactions wth related parties are discbsed in the n¢Xes to the financial statements. • Volunteers The trustees are grateful to the staff and volunteers who carry out the many aspeGts of the work, including checking and allocating donated medical items, pa¢king, spectacle grading, driving and running the stamp bureau. • Risk management The Iruslees acttvely review the major risks which the charity faces on a regular basis and believe that maintaining reserves al current levels. combined with an annual review of the controls over key financial systems, will prcvide sufficient resources in the event of adverse conditions. In addib"on, other operatnal and business risks have been examineA and systems established to mitigate any signiffi¢ant risk. Publk boneflt Our main activities and who we ty to help are described above under"Achievement and Performance" All our charitable actwities focus on achievin9 our objectives and are undertaken to further our charitable purposes for the public benefit. Plans for future perlods Our desire to support medical mission remains the same as we want to Continue to see God at work through His people as they care for the health needs of the communities. . We will continue to develop our communicab'on platforyns lo encourage prayerful support for our partners and develop partnerships that wll enable us to In¢aSe our nerk. We will continue to give grants to supp)rt Christian organisations in their ministry as finances permit. We are looking lo develop our support of me(lical professionaL8 and students to Consider misSn as a way of ¢ombining Iheir medical skills and faith. Page 6
MEDICAL MISSION NETWORK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Trustees. respon81bilities The Trustees are responsible for preparing the Trustees, report and the financial ststements in accordan with aPpIable law and United 'ngdoM Accounting Standards {United Kingdom Generally Accepted Acwunting Praclicel. The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each finanGial year which give a true and fair VEW of the state of affairs of the Charity and of its inGoming resour¢e5 and application of resources, including its income and expenditure, for that perioj. In prepating these finanGial stalemenls, the Trustees are required to.. select surtable accounting policies and then apply them consistenttr, observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting esb'males that are reasonable and prudent,. State whether applicable UK Accounting Standards IFRS 102) have been followed, subje¢t to any material departures disclosed and explained in the financial statements., prepare the financ1 statements on the going concem basis unless it is inappropriate to presume that the Charity wll continue in business. The Trustee5 are respM)nsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any tsme the finan¢ial position of the Chairty and enable them lo ensure that the financi81 ststements comply with the charib.es Act 2011, the Charity (Accounts and Reports} Regulations 2008 and the provisions of the Trust deed. They a also responsible for safegLtarding the assets of the Charity and hence for taking fwdsonable steps for the prevention and dete¢b"on of fraud and other irregularities. Dlsclosure of infomiatlon to auditor6 Each of the persons who are Trustees at the lime when this Trustees, report is approved has confimied that.. so far as that Trustee is aware, there is no relevant audit information of whiGh the charivs auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be awa of any relevant audit information and to estsblish that the charity's auditors are aware of that informab'on. Auditors The auditors, Balthvin Scofield Ltd, have indicated their willingness to conts'nue in offi. The designated Trustees wtll propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees on 13 October 2025 and signed on their behalf by.. Davld Keith (Chair of Trusleesl Page 7
MEDICAL MISSION NETWORK INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MEDICAL MISSION NETWORK Opinlon We have audited the financial statements of Medical Mission Netsvork (the 'charity'l for the year ended 31 December 2024 which comprise the Slalemenl of fi'nanci81 acb'vib'es, 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 lfj'ngdom Accounting Standards, including Financial Reporb'ng Standard 102 'The Financial Reporb'ng Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). The financial statements have been prepared in accordance with Accounty'ng and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applrcable in the UK and Republic cf Ireland IFRS 102} in prefereno 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 lo provide a true and fair view in accordance with the Generalty Accepted Accounting Practice effects.ve for reporting periods beginning on or after 1 January 2015. In our opinion the financial statements.. give a true and fair view of the 5tste of the charity's affairs as at 31 December 2024 and of its incoming resources and appiicalion of resources for the year then ended,. have been property prepared in accordance with United Kingdom General Accepted Accounting Practice.. and have been prepared in accordance wth the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance wth Intemational Standards on Auditing (UK} IISAS (UK}l 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 ieporL We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financral statements in the United Kingdom, including the Financial RetN)rb'ng Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan wth these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a ba$is for our opinion. Concluslons rolating to golng concern In auditing the financial statements, we have concluded that the Twstees, use of the going nCerrI basis of a¢wunb'ng in the preparation of the finarscial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relats.ng to events or conditsons that, individually or collectively. may cast significant doubt on the charity's ability to continue as going concem for a period of at least efve months from when the financial statements are aulhorised for ISSU8. Our resF¥Jnsibilities and the responsibilities of the Trustees with resFect to going concem are described in the levant sections of this report. Page 8
MEDICAL MISSION NEfwoRK INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MEDICAL MISSION NETWORK ICONTINUEDI other infomiation The other information comprises the information included in the Annual report other than the financial statements and our Auditors, report thereon. The Trustees are pOnSIble for the other inforrnation contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stsled in our report, we do not express any fofm of assurance conclusion Ihereon. Our responsibility is to ad the other information and, in doing so, o)nsKler whether the other information is matenalty inconsistent with the financial statements or our knoedge obtained in the course of the audi( or otherwise appears to be materially misstated. If we identify such material inconsistencies or app2nt material misstatements, we are required to determine whether this gives rise to a material misstatement in the fi'nancial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of thi5 Other information, we are required to report that fact. We have nothing to report in this regard. attors on which we are required to report by exception We have nothing lo report in respect of the following matters where the Charities (Accwnts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the infomiation gwen in the Trustees, report is inconsistent in any materHI respect wf(h the financial statements,. or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the aCunting records and returns., or we have not e1Ved all the information and explanalicins we require for our audit. Responslbllitios of trustees As expLqined more frJlly in the Trustees, responsibilities stslement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for $u¢h intemal control as the Trustees determine is necessary lo enable the preparation of financial statements that are free from material mi5Statement, whether due to fraud or error. In preparing the financial ststements, the Trustees are responsible for assessing the chanty's a'lIty to continue as a going Con. disclosing, as applicable, mattets related to going concern and using the going concem basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no alistic attemative but lo do so. Page 9
MEDICAL MISSION NETWORK INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MEDICAL MISSION NETWORK ICONTINUEDI Audltors. responslbllltles for the audil of the financial $tstgmgTrts We have been appointed as auditor under section 144 of the Charrties Act 2011 and report in accordance with the Act and relevant regulatsons made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial slalements a5 a whole are free from material misstatement, whether due lo 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 IUKI will avayS detect a material misstatement when it exist5. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo Influen the economic decisions of users taken on the basis of these financial ststements. Irregularities, including fraud. are instances of nonoompliance with laws and regulations. We design procedures in line wth our responsibilities, outlined above, to detect material misstslements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities. including fraud is detailed below.. We obtained an understanding of the legal and regulatory frameworks Ihal are applicable to the charitable incorporated organisats'on and detemiined that the most significant are those that relate to the reporting framework in wnformity wlh the requirements of the Charities Act 2011 and the relevant direct and indirect tax compliance regulations in the United ngdorn. We understood how the charitsble incorporated organisation is complying with those frameworks by making enquiries of management to understand how the charity maintains and communicates rt5 polieies and proc&Yures in these areas and rrOb0rated this by reviewing supporting documentsbon and minutes of meetings of those charged with governance. We assessed the susceptibility of the ¢haritys financial ststements lo material misslatemenL including how fraud might occur by considering the nsk of management overrKle to be a fraud risk. In addition, we considered the risk of management override by sampling from the entire population of journals, identifying SFecific transactions which did not meet our expectsts.ons based on sFecific ¢riteria and investigated these to gain an understanding and then agree back lo source ¢Jo¢umentabon. Based on this underst8nding we designed our audit procedures to identify noncompliance such laws and regulations. Our procedures involved verifying that material transactions We recorded in compliance wrth Financial Reporting Standards in conformity with the requ1Ments of the Charities Act 2011. A fvrther description of our responsibilitses for the audit of the ffnancial statements 15 located on the Finanaal Reportrng Council's website at Mwi.frc.o .uklaudrtorsres Auditors, reFJOrt. onsibilib'es. This description forms part of our Page 10
MEDICAL PdllSSION NEfwoRK INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MEDICAL MISSION NETWORK ICONTINUEDI Use of our report This report is made solely lo the charity's trustees, as a body, in accordance with Part 4 of the Charities {Accounts and Reports) Regu12tsons 2008. Our audit work has been undertaken so that we might stsle to the charity's Iruslees those matters we are required to slate lo 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 Iruslees. as a body. for our audit work, for this report. or for the opinions we have formed. Baldwin Scofiold Ltd Chartered Accountants Statutory auditors 3 Newhouse Business Centre Old Crawky Road Horsham West Sussex RH12 4RU 13 October 2025 Baloknn Scofield Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2Cy)6. Page11
MEDICAL MISSION NETWORK STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 310ECEMBER 2024 Total funds 9 months 8nded 31 De¢ember 31 December 31 December 31 Dgc8mber 2024 2024 2024 2023 Restrlet•d Unre9trlttod funds funds Total funds Note Income from: Donats"ons and legacies Charitsble activities Other trading actsvilies Investments 41.579 1,242,583 129,150 3,026 16.408 1,284,162 129.150 3,026 16,408 204,502 112,953 604 6.089 Total In¢omg 41,579 1,391,167 1.432,746 324, 148 Exp8ndlture on: Charitsble activities 48.573 571,974 620,547 333. T89 Totsl expendltu 48.573 571.974 620,$47 333.789 Ngt lexpendltureifincome bgfore net gains on investments Net gains on investments Net movement in fund$ bofore other rgcognlsod galnsl(108ses 16.9941 819.193 16.104 812.199 16.104 (9,641) 14,821 16,994 835,297 828.303 5.180 Oth•r r8cognised galnslllogsesl: Transfer of assets from preceding chanty 602,959 Net movement in funds (6,994) 835,297 828.303 608, 139 Reconcillatlon of fund8: Total funds brought forward Nel movement in funds 27,636 {6.9941 580,503 835,297 608.139 828,303 608, 139 Total funds cal0d forward 20,642 1,415,800 1A36.442 608, 139 The Statement of financial actwities Includes all gains and losses recognised in the year. The notes on pages 15 to 32 fonn part of these finanGial statements. Page 12
MEDICAL MISSION NETWORK BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Flxed assets Inveslrnenls 13 866,961 250,857 866.961 250.857 Current assets Debtors Cash at bank and in hand 14 45,884 534,016 42,392 345,995 579.700 388.38T Current118bllltios Creditors.. amounts falling due within one year 15 {10,219) (31, 105) Net current a88e18 569,481 357,282 Total net a88ets 1.436.442 608, 139 Charity funds Restricted funds 17 20,642 1,415,800 2T,636 580,503 Unreslrieted funds 17 Total funds 1.436,442 608, 139 The financial statements were approved and authorised for issue by the Trustees on 13 October 2025 and signed on their behalf ty.. Davld Kelth (Chair of Trustees) The notes on pages 15 to 32 fom part of these financial statements. Page 13
MEDICAL PdllSSION NETWORK STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 9 months ended 31 0mbe1 2023 31 Dg¢ember 2024 Cash flows from operatlng actlvltles Net cash used in operating activits'es 771,673 339,906 Cash flows from investing activities Dividends and interest received Purchase of investments 16.408 1600.060) 6.089 Not cash (used inyprovidgd by Investlng actlvlties 1583,652 6,089 Cash flows from financlng actlvltles Net cash provldod by financing activitios Change in cash and cash equivalents in the year Cash and Gash equivalents al the beginning of the year 188.021 345,995 345.995 Cash and cash equivalents at the end of tho year 534.016 345,995 The notes on pages 15 to 32 form part of these financial statements Page 14
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Informatlon Medical MiSsn Neknrk 15 a Charitsble Incorporated Organisation registered with the Charity Commission in England & Wales. The charity's registered number and ristered office addre55 can be found on the Reference and Adminislralive details page. Accountlng poli¢io5 2.1 Basis of preparation of flnanclal statements The financial statements have been prepared in cordance with the Charities SORP IFRS 1021- AcGounling and Rep)rting by Char(ties'. Statement of Recommended Pracb'ce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffe¢trve 1 January 2019). the Financral RepOTr9 Standard applicable in the UK and Republic of Ifeland IFRS 1021 and the Charities Act 2011. The financial statements have been PrePad to give a 'true and fairf view and have departed from the ch8rih.es {Accounts and Reportsl Regulations 2008 only to the exlenl required lo provide a 'lrue and fairf view. This departure has involved following the Charib'es SORP IFRS 102) published in October 2019 rather than the Accounting and Reporting by Charities.. Slalement of Recommended Practice effective from 1 April 2005 whh has sin¢e been withdrawn. Medical Mission Nelwork meets the definiticn of a publi¢ 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 Income All income is recognised once the Charity has enlilement to the income, ri is probable that the intome will be received and the amount of income receivable can be measured reliably. The reccyJnition of income from lega¢ies is dependent on establtshing entiuement. the probability of receipt and the ability to estimate with sufticienl accuracy the amount receivable. Evidence of entiement to a legacy exists when the Charity has sufficient evidence that a gift has been left lo them Ilhrough knedge of the existence of a valid wll and the death of the benefactor} and the executor is satisfied that the propety in quests'on will not be required to satisfy claims in the estate. Receipl of a legacy must k reccMJnised when it is probable that it will be received and the fair value of the amount re1Vable. which will generalty be the expected cash amount to be distributed to the Charty, ¢an reliably measured. Income tax recoverable in relation io investment income is recognised at the time the invesknent income is receivable. 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefrt lo a third paty, it is probable that a transfer of economic benefi'ts will be required in settlement and the amount of the obligation Can be measured reliably. ExFenditure 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 direcuy lo thal activity. Shared costs which contribute to more than or¢e activity and support Costs which are not attributable lo a single activity are apFX)rb'oned belween those activities on a basis consistent wth the use of resources. Central staff costs are alk)cated on the basis of lime spent, and depreciation charges allocated on the pOrtn of the asset's u. Page 15
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcles (conllnuedl 2.3 Expenditure {contlnuedl Expenditure on charitable actiVitS is incurred on directly undertaking the activities which further the Chanty's objectives, as well as any associated support eosls. All eXnditUre is inclusive of irrecoverable VAT. 2.4 Interest re¢•ivable Interest on funds held on deposrt 1$ in¢luded when receivable and the amount can be measured reliably by the Charity,. this is nomally upon notification of the interest paid or payable by the institution with whom the funds a deposited. 2.5 Investments Fixed asset investments a 8 form of financial instrument and are initially recognised at their transaction cost and subsequently measured al fair value at the Balan sheet date, unless the value cannot be measured reliably in which ¢ase it is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on investments, in the Statement of financial acliwtie$. 2.6 Debtovs Trade and other debtors are recognised al the seement 8mounl after any tr&Je discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and hand Cash al bank and in hand includes cash and short-terrn highty liquid investments wth a short maturity of three months or less from the date of acquisition or opening of the deposit or similar ount. 2.8 Llabilities and provlslons Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event. it 15 probable that a transfer of economic benefit will te required in setUemen( and the amount of the settlement can be estimated reliabty. 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 goc#Js or services it must provide. Provisions are measured al 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 amoun15, discounted al the pre-Lqx discount rate that reflects the risks spectfic to the liability. The unwinding of the discount rs rectsjnised in the Statement of financial activrties as a finance cost. 2.9 Flnancial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments a inits'ally recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequentiy measured at aM0.sed cost using the effective interest method. Page 16
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng poli¢igs Icontinuedl 2.10 Penslons The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity lo the fund in respect of the year. 2.11 Fund accounting General funds are unrestricted funds which are availab for use al the dISction of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other pUoses. Designated funds comprise unrestricted funds that have been set aside by the Trustees for parbcular purposes. The aim and use of each designated fvnd is set out in the notes to the financial statements. Restncted funds are funds which a lo be used in accordance with specific reslriclions imposed by donors or which have been raised by the Charity for particular purp05es, The costs of raising and administering such funds are charged against the specffic fund. The aim and use of each $trIcted fvnd is set out in the notes lo the financial stslements. Investment income, gains and losses are allocated to the appropriate fund. Income from donatlons and legacles Restrlcted Unrostrictod funds funds Totsl funds 31 December 2024 31 December 2024 31 Do¢ember 2024 Donations Donations Gift aid Chur¢hes Corporate Trusts 33.601 3,728 1,350 118,928 9,750 48,749 3,200 34,196 152.529 13,478 50,099 3,200 37.096 2,900 Subtotal detailed disclosure 41.579 214.823 256A02 Legacies 1,027,760 1.027,760 Subtotal 1,027,760 1,027,760 41,579 1,242.583 1,284162 Page 17
MEDICAL MISSION NEfwoRK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 In¢ome from donations and lega¢ies (continued) Restncted unstrICted funds funds 9 months 9 months ended end8d 31 31 Decen7ber December 2023 2023 Total fvnds 9 months ended 31 December 2023 Donations Donations Gift aid Churches Corporate Trusts 20,407 2,172 2,010 55,5T4 4,3T7 16,827 3,350 9,187 75,981 6,549 18,837 3,350 24. 787 15,600 Subtotal detailed dlsclo8ure 40.189 89,315 129,504 Legacies 74, 998 74,998 Subtotal 74,998 74,998 40,189 164,313 204.502 Incomo from charitable activitios Unrostri¢t•d fundg Total funds 31 December 2024 31 December 2024 Reimbursement from missions 129,150 129,150 Page18
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 In¢om• from charllablo activities {continuedl Unrestricted funds 9 months ended 31 December 2023 Total funds 9 months 6nd8d 31 DeGgmber 2023 Reimbursement from missions 112.953 112,953 Page 19
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from oth•r trading activitles Income from non charitable trading aetlvities Unrestrlcted funds Total funds 31 December 2024 31 Dgcemb8r 2024 Stsmp buaU 3,026 3,026 Unrgstrict8d funds 9 months end8d 31 December 2023 Total funds 9 months onded 31 December 2023 Stamp bureau 604 Investrnent income Unrestricted funds Total funds 31 December 2024 31 December 2024 Deposit aOUnt interest Other fixed asset investhents - UK listed investrnents 10,081 6,327 10,081 6,327 16,408 16,408 Page 20
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Investment income Icontinugd) Unrestrided funds g months 8nd8d 31 D8Mber 2923 Total funds 9 months ended 31 Dember 2023 Deposit account interest Other fixed asset investments- UK listed investments 3,347 2, T42 3,347 2, 742 6,089 6,089 Analysis of expenditure on charftable activities Summary by fund type Restricted Unrnslricted funds fund$ Total 31 DeGember 2024 31 December 2024 31 DeceMr 2024 Direct costs- Charitable actItIeS 48,573 571.974 620.547 Restricted Unrestricted funds funds Total 9 months 9 months 9 months ended ended ended 31 31 31 Dernbel Decembei December 2023 2023 2023 Direct costs - Charitable activities 19.563 314,226 333,789 The purpose of the Charitable activities was to provide rnedal and other relf. Page 21
MEDICAL MISSION NEfwoRK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of exp•ndituro by activities Activities undertaken directly Support costs Total funds 31 December 2024 31 Dfy¢ember 2024 31 Decembor 2024 Direct costs- Charitable activities 613,689 6.858 620,547 Activihes undertaken diTrctly 9 months ended 31 December Support Total cost funds 9 months 9 months ended ended 31 31 Decembei December 2023 2023 2023 Direct Costs - Charitable activities 332,075 1,714 333. 789 Analysis of dlrect C08ts Total fund8 AetivitiOS 31 31 December Docember 2024 2024 Employment costs Grants allated to medical mission work- individuals Grants allocated to medical mission work- institutions Goods supplied to medul mission work- institutions & individuals Charity Running Costs 114,727 9,000 307,776 124,107 58.079 114,727 9,000 307,776 124,107 58,079 613,689 613,689 Page 22
MEDICAL MISSION NEfwoRK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anaty8i$ of expendlture by activities (continued) Analy818 of direct Costs Icontinued) Total funds 9 months ended 3t December 2023 Activities 9 months ended 31 Dec6mber 2023 Employment costs Grants allocated to medical mission work - individuals Grants allctated to medical mission work- institutions Goods supplied lo medical mission work- institutions & individuals Charity Running Costs 49.871 2.500 117,488 131,908 30,308 49,8TI 2,500 117,488 131,908 3Q,308 332.075 332,075 Analysi8 of 8UPPOrt costs Total funds Activitigs 31 December 2024 31 December 2024 Finance Management Govemance 630 1.153 5,075 630 1,153 5,075 6,858 6.858 Total Activities funds 9 months 9 months end@d ended 31 37 December D8cember 2023 2023 Finan 379 1,335 379 1,335 Management 1, 714 1,714 Page 23
MEDICAL MISSION NEnNORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of expenditure by activities Icontinued) Analy$is of support costs Itontinuodl Auditors. remuneration 9 months ended 31 Decgmber 2023 31 Docomber 2024 Fees payab to the Charity's auditor for the audit of the Charitys annual accounts 5,500 During the prior financial year. the charity was subject to an independent examinatton, The independent examination fee for the prior year amounted to £850. 10. Staff costs 9 months ended 31 Decembo 2023 31 DeGember 2024 Wages and salaries Social security costs Contributs'on to defined contribution PenSn schemes 104.226 5.289 5,212 47,504 2,367 114.727 49.871 The average number of persons employed by the Charity during Ihe year was as follows.. 9 months ended 31 31 December December 2024 2023 No. Charitable *wits'es Page 24
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Staff costs IcontiDuedl No employee received remuneration amounting to more than £60,000 in erther year. The Charity considers ils key management personnel comprises the trustees and the whole staff team given the number of stsff employed. The total employment benefits induding employers pension contributions of the key management personnel were £114,727 for the period from lo 31st December 2D2419 months to December 2023- £49.871 I. 11. Trustees. remuneration and expenses During the year, no Trustees received any rernuneralion or other benefits (2023- £NIL). During the y8ar ended 310ecemter 2024, no Trustee expenses have been incurred (2023- £NIL). 12. Tanglble fixod assots Fixtures and frttings Cost orvaluation At 1 January 2024 4195 At 310ecemb8r 2024 5,195 Deprnciation At 1 January 2024 5,195 At 31 December 2024 5.195 Net l>ook value At 31 December 2024 At 31 De¢emb8r 9 months to Dec-23 All material fixed assets are used in the support of charitable acb'vities and for the administratration of the ¢harity. Page 25
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Flxed asset investments Llsted Imiestments Cost or valuation At 1 January 2024 Additions Revaluations 250,856 600,060 16,045 At 31 December 2024 866,961 Net book value At 31 Dernber 2024 866,961 At 31 December 2023 250,856 There were no investment assets outside the UK. All investments are held to provide an investment retum for the charity. 14. Debtors 2024 2023 Due wlthln one year Trade debtors Other debtors Prepayrnenls and accrued irrne 29.382 386 6,819 4,877 4,220 20,240 1,669 7,060 9,244 4,179 VAT Gift aid tax rverable 42,392 Page 26
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEPJlENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Creditors: Amounts falllng due within one year 2024 2023 Bank overdrafts Trade creditors Other taxation and social security Accruals and deferred income 164 5,657 4,519 20, 765 490 2,471 7,258 10.219 31,105 16. Financlal instruments 2024 2023 Flnanclal assets Finanaal assets measured at fair value through income and expenditure 534,016 345.995 Financial assets measur&J at fair value through income and expenditure comprise bank balans. Page 27
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Statement of funds Statement of funds- current year Balance at 31 Gains1 De¢•mber (Lossès) 2024 Balan at 1 January 2024 Transf8r¥ inlout Income Expendlture Unrestrlcted fund8 Designated funds Kalene Medical Equipment Fund 6,253 16,253) General funds General Fund 574.250 1.391,167 1571.9741 6,253 16,104 1,415,800 Totsl UnstriCt0d funds 580.503 1.391.167 (571,9741 16,104 1,415.800 Reslrlclod fund5 Designated Gifts Fund 27,636 41.579 148.5731 20,642 Totsl of funds 608,139 1 N32,746 (620,547) 16,104 1.436,442 Page 28
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEPIIBER 2024 17. Statement of funds l¢ontinuedl Statement of funds - prior year Balance 81 31 December 9 months to D8c-23 TTrnsfers irfoul Gain (Loss9s) Incom8 Expenditu Unrestricted funds Designated fundg Kalene Medical Equipment Fund 6,253 6.253 General fund5 General Fund 283.960 (314,226J 589,695 14,821 574,250 Total Unrestricted fund$ 283,960 (314.226) 595,948 14,821 580,503 Restricted funds Designated Gifts Fund 40,189 (19,563) 7.010 27.636 Tolol of funds 324, 149 (333, 789) 602,958 14,821 608. 139 Genoral Fund The general fund is unrestricted and ts)Ids accumulated surpluses for future charrtable activities. Kalen• Medical Equipmont Fund This designated fund provides funds for the pUhase of medical equipment for the hospital at Kalene, Zambia. Many years ago trustees set aside some funds to help buy equipment for the mission hospital at Kalene. The political s+tuation has changed over the years and the funds have been sat there largely untouched. Following a visit by of the trustees, the board agreed during the financial yeai lo reallocate the designated funds back to General funds as the charity will not be supporting the hospital at Kalene anymore. Deslgnated Gffts Fund This fund consists of gifts recewed for a designated purpose during the year, not paid as al the end of the year. Page 29
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Summary offvnds Summary of funds- current year 8alance at 31 Gains1 Docember (L05ses1 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Designated funds General funds Restricted funds 6.253 574,250 {6,2531 6,253 1,391,167 (571,9741 16,104 1,415.800 27,636 41.579 (48.5731 20.642 608.139 1,432,746 {620,547} 16,104 1,436,442 Summary of funds - prlor year Balance 8t 31 DeGember 9 months to DeG.23 Transfers in/oul G8in&v (Lossgs) Inmn6 Expenditur8 Designated funds General funds Restricted funds 6,253 589,695 7.010 6,253 574,250 27,636 283,960 40,189 (314,226) (19.563J 14,821 324, 149 (333, 789) 602,958 14.821 608. 139 19. Analysio of net assots between fund8 Analys1$ ol nel assels betwegn funds - current p8rfod Restricted Unrestrlctod funds funds 2024 2024 Total funds 2024 Fixed assel investmenis Current assets Creditors due within one year 866.961 559.058 {10,2191 866,961 579.700 {10,219) 20.642 Total 20,642 1,415,800 1,436,442 Page 30
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. Analysls of net assets between funds Icontinuedl Analysis of net assets beten funds . prior period Reslrict8d UnrestriGt8d funds funds 2023 2023 Tot81 funds 2023 Fixed asset investments Current assets Creditors due within one year 250, 857 360, 751 (31, 105) 250, 857 388,387 (31. t05J 27,636 Total 27,636 580,5Q3 608, 139 Reconciliation of net movem•nt in funds to net cash flow from opor•ting activities 9 months ended 2023 2024 Net income for the period {as per Staternenl of Financial Acb'vitiesl 828,303 5.180 Adjustments for: Amortisatson charges Losses on investments Dividends and interest re¢gived Increase in deblors Increasel(decrease} in creditors 366,923 (14.821) (6.089) (42,390) 31,103 (16,045) (16.4081 13.2921 120,8851 Net cash provlded by operatlng actlvltles 771,673 339,906 21. Analysls of cash and ca8h equivalents 2024 2023 Cash in hand $34,016 345,995 Total cash and cash oqulvalents 534,016 345,995 Page 31
MEDICAL MISSION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 22. Analysi8 of changes In net dgbt At1 January 2024 Cash flow8 At31 December 2024 Cash al bank and in hand Bank overdrafts repayable on demand 345,995 {164) 188.021 164 534,016 345,831 188,185 534,016 23. Pension ¢omrnitinonts The charity operates a defined Contribution pension scheme. The assets of the scheme are held separately from those of the charity in an indeFendently administered fund. The penSn cost charge represents contributions payable by the group lo the fund and amounted to £nil 19 months ending 31 December 2023: £nill were payable to the fund at the balance sheet date and are included in creditors. Page 32