Registered Charity Number 327278 MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Report and Accounts 31 December 2024 SAMS ACCOUNTING SERVICES LIMITED 92A FOREST ROAD WALTHAMSTOW LONDON E17 6JQ
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Report and Accounts Contents Page Legal and administrative information Trustees, report Statement of trustees, responsibilities Independent examiner's report Statement of financial activities Balance sheet 10 Notes to the accounts Schedules to the statement of financial activities 15-21
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Legal and Administrative infonnation Trustees Caroline P Dyer (Chairperson) Noel C Dyer Julian C J Dyer Reporting accountants Sam's Accounting Services Limited. 92a Forest Road Walthamstow London E176JQ Bankers Natwest 133 High Street Barkingside Ilford Essex IG6 2AN Solicitors Slater Gordon Swinton house 324 Grays Inn Road London W1X 8DH Registered office Temple of Truth 138 Higham Hill Road Walthamstow London E17 6EJ Registered number 327278
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH The report of the Trustees The trustees are pleased to present their report and accounts for the year ended 31st December 2024. The financial statements cornply with the Charities Act 2011 and Accounting and Reporting by Charities: statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities. Objectives and activities The full name of the charity is Ministry of Restoration Intemational Pentecostal church. The church was fomed as an unincorporated charity on 30th September 1986. The object of the charity is the advancement of the gospel of Jesus Christ the Messiah, by establishing churches and using any medium deemed neSSary and conducive. The principal activities continue to relate to the promotion and progression of Christianity and the underlying vital truths that has underpinned this religion throughout the last 2000 years. In striving to accomplish this objective Ministry of Restoration adopts the following strategies: we currently operate through two church branches within the UK; with an international representation in Barbados our Pastors and Ministers look after the spiritual wellbeing of the members and adherents at the main church and branches. This includes the conduct of child dedication ceremonies, marriages and funerals. seeking new members and adherents: we send our evangelism team to pa¢h the Gospel in a variety of locations including the streets. Our missionary and outreach work include welfare, visiting the sick and those in prisons and hospftal. we continually develop our yOLrth ministry in response to the social dilemma that has caused the degeneration of youths in our comrnunity. we continue to pursue audio visual broadcasting opportunities to further enhance the coverage of the Christian message encouraging and nurturing talent from within to strengthen our evangelical, youth, music and ministerial areas. All of our church ServIS are acssible to Christians and non-christians, members and non-members alike. The wider community have been particulady attracted to our services celebrating traditional Christian festivals including Easter, Christmas and New-year's Eve (Watch Night) services. Achievements and perfonnance of the trust In 2024 we continued to stream our ServIS via online platforms, Facebook and YouTube. We continue to provide a full church Servi online from 11:00am - 14.00 every Saturday and our call rota remains in place for all members, to receive telephone calls on a weekly, fortnightly or monthly basis dependent on their vulnerabilities. We thank God that our members despite facing challenges of their own have continued to support us financially throughout this year. Our decision to continue online seNices has been guided by the fact that we are planning extensive building works, which will result in us needing to relocate temporarily to another building whilst this work is undertaken. In 2018. we sent a group of 13 individuals on a mission to Barbados. with the view of a church plant at some time in the future. We are pleased to announce that in October 2024. the MOR Church branch officially opened in Checker Hall, St Lucy, Barbados. In Dember 2024, we participated in a major project called Shine Your Light. This
project was to the greater eent funded by a single private donation with a short deficit being fund by MOR. All the extensive infomiation is detailed in note 7 of these accounts. Objectives for the coming years Our main objective is to maintain the status quo in terms of serViS, Pastoral Care and Support. We are fortunate to have some staunch members who are determined to stand with us as a Ministry. We look forward to the strategic shift in MOR in the coming years. We envisage the reopening of in-person servIS for our HQ and Nottingham branches in 2026. Financial review The Charity reGorded an operating surplus for the year of {£13,456), (2023 deficit- £6,642). Incoming Resources - the total income for the 1ve months under review was £163,633. This represents a 490/D inaSe on last yearfs income (2023 - £84,008). Expenditure- total expenditure in the year was £150,226. This represents an increase of 640/0 on the previous year's expenditure (2023-£91,683). 100 % of our operational expenditure was spent on charitable activities. The significant rise in the current yearfs figures are driven by the Shine Your Light project income of £45,139 and project expenses £48,021 (please see note 7.) Structure, governance and management The trust deed provides for a board of three trustees. Should there be a requirement for new trustees, these will be identified and appointed by the remaining trustees. The chair is responsible for the induction of any new trustee which involves awareness of a trustee's responsibilities, the goveming document, administrative pr0dureS, the history and philosophical approach of the charity. The board has a traditional business and legal skill set, with the day-to-day management of the Charity delegated to the Administrative Team which comprises of professionals from all disciplines. Members of the Administrative Team report variously to the Board and also different sub-committees, charged with responsibility for particular areas of operation. The effort, commitment and skills of our volunteers are at the heart of our organization. We have approximately thirteen full-time volunteers who work an average of 35 - 45 hours a week. The relative payroll cost for these individuals had the Charity needed to pay for these services would have equated to £765,874 for the year reported. Risk Management The Gharity does not have a formal risk management strategy, however periodically the administrative tearn". review the principal risks and UnrtaIntieS that the charity face., establish policies, systems and procedures to mitigate those risks identified in the review. report these risks and the proposed solutions to the trustee board for discussion and unanimity,. implement procedures designed to minimize or manage any potential impact on the charity should those risks materialize. This work has identified that financial sustainability is the major risk for the charity. To date the main risk to the charity in the event of a drastic decline in membership is its ability to cover its operating costs. A key element in the management of financial risk is a regular review of available liquid funds to settle
debts as they fall due, active management of trade debt0rsjcditorS balances and pursuing increased ancillary income via hall hires to ensure sufficient working capital by the Trust. Attention has also been focused on non-financial risks arising from fire, health and safety of the congregation and any structural dilapidations of our buildings. These risks are managed by ensuring accreditation is up to date. having robust policies and procedures in place and regular awareness for our volunteer staff working in these operation areas. Statement of Trustees, Responsibilities The Charity trustees are responsible for preparing a trustees, annual report and financial statements in accordan with applicable Law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law applicable to charities in England and Wales requires the Board of trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the financial year in preparing those financial statements giving a true and fair view, the Board of trustees should follow best practice and:_ Select suitable accounting policies and then apply them consistently" Observe the methods and principles in the Charities SORP", Make judgements and estimates that are reasonable and prudent. State whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements., Prepare the financial statements on the going cOnM basis unless it is inappropriate to presume that the charity will continue to operate. The trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the chanty and to enable them to ascertain the financial position of the charity and enable them to ensure that the financial statements comply with the requirements of applicable law and regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities. The trustees are responsible for the rna1ntenan and integrity of the corporate and financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions.
Statement as to disclosure to our auditors In so far as the trustees are aware at the time of approving our trustees, annual report" there is no relevant information being needed by the independent examiner in connection with preparing their report, of which the Independent examiner is unaware" and the trustees, having made enquiries of the independent examiner that they ought to have individually taken, have each taken all steps that helshe is obliged to take as a trustee in order to make themselves aware of any relevant new infonnation and to establish that the examiner is aware of that infomation. This report was approved by the board of trustees on 161h October 2025 Signed Noel C Dyer Trustee
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Independent examiners. report to the Trustees of Ministry of Restoration International Pentecostal Church We report on the accounts of the charity on Pages 8 to 18 which have been prepared in accordance with the Charities Act 2011 and with the Financial Reporting Standard for Smaller Entities issued by the Charity Commissioners for England and Wales, effective January 2015. adapted to meet the needs of unincorporated organisations, under the historical cost convention and the accounting policies set out on page 10 to 13. Respective responsibilities of trustees and examiner As described on page 6, the Charity's trustees are responsible for the preparation of the accounts. The trustees consider that the audit requirement of section 144 of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the governing document or consts-tution of the Charity for the wnducting of an audit. It is our responsibility to state, on the basis of the procedures specified in the General Directions given by the Charity Commissioners for England and Wales under section 145{5){b) of the Act, whether particular matters have come to our attention. Basis of independent examiners. report We conducted our examination in accordance with the General Directions given by the Charity CoTnmissioners for England and Wales. An examination includes a detailed review of the accounting records kept by the Charity and of the accounting systems employed by the Charity and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees conmIng such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the accounts comply with the ststement of Recommended Practice issued by the Charity Commissioners for England and Wales (effective January 2015), on a test basis, of evidence relevant to the amounts and disclosures in the accounts. The procedures undertaken do not provide all the evidence that would be required in an audit, 2nd information supplied by the trustees in the course of the examinab'on is not subjected to audit tests or enquiries, and consequently we do not express an audit opinion on the view given by the accounts. We planned and preformed our examinab.on so as to satisfy ourselves that the objectives of the independent examination are achieved and before finalising the report we obtain written asSuranS from the trustees of all material matters. Independent examinerfs statement Subject to the limitations upon the scope of our work as detailed above, in connection with our examination, no matter has come to our attention.. 1) which gives us reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the act and to prepare accounts which accord with the accountj'ng records and to comply with the accounting requirements of the Act have not been met ,' or 2) to which, in our opinion, attention should be drawn to enable a proper understanding of the accounts to be reached. Sam's Accounting Services Limited 92a Forest Road Walthamstow London E17 6JQ
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Statement of Financial Activities for the year ended 31 December 2024 Unrestricted Designated Total Prior Period Funds Funds Funds Total Funds Notes Income: Offerings and Donations 118,494 45,139 163,633 84,008 Income from other trading activities." Fundraising events Other income 49 49 1.033 Total incoming resources 118,543 45.13g 163,682 85,041 Expenditure: Expenditure on charitable activities." Operation of all church branches 102.205 48,021 150,226 91,683 Total expenditure 102,205 48.021 150,226 91,683 Net Incomel(expenditure) and net Movement in funds for the year 16,338 (2.882) 13,456 (6,642) Reconciliation of funds Total funds brought forward Transfer between funds 1,000,324 (2.882) 1,000,324 1,006,966 2,882 Total funds carried forward 1,013,780 1.013,780 1,000,324 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 10 to 18 fomi part of these accounts
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Balance Sheet as at 31 December 2024 Notes 2024 2023 Fixed assets Tangible assets 1.183,648 1,177,093 Current assets Debtors Cash at bank and in hand 12 12,747 3.404 9,547 3,225 Total Current Assets 16.151 12,772 Liabilrties Creditors falling due within one year 13 46,597 38,439 Net current liabilities (30,446) (25,667) Total assets less current liabilities 1,153,202 1,151,426 Creditors: falling due after more than 1 year 14 139,422 151,102 Net assets 1,013,780 1,000,324 The funds of the charity: Unrestricted revenue reseNes 1,013,780 1 ,000,324 Total charity funds 1,013,780 1,000,324 The Board of Trustees are satisfied that the organisation is not required to have an audit of the organisation by virtue of its level of tumover and by virtue of any requirernent under its, constitution or othetwise. The trustees have prepared these arKounts in accordance with section 138 of the Charities Act 2011. The notes on pages 10 to 18 form part of these accounts Trustee Noel C Dyer Approved for signature by the Trustee Board on 16th October 2025 10
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Notes to the accounts for the year ended 31 December 2024 q. Accounting Policies The principle accounting policies adopted, judgements and key SoUrS of estimation and uncertainty in the preparation of the financial statements are as follows: 1.1 Basis of accounting The financial statements have been prepared in accordan with Accounting and Reporting by Charities.. statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards for Smaller Entities published on 16107114, the Financial Reporting Stsndard for Smaller Entities (effective January 2015). Assets and liabilities are recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notels)- 1.2 Preparation of the accounts on a going conrn basis The Board has a reasonable expectation that the Charity has adequate reSoUrS to continue in operation for the foreseeable future despite at times its struggle to maintain sufficient cash resources to fijnd its working capital needs. Should the need arise the Charity has enough financial support and goodwill from its members and associate church friends to fund any deficit in its working capital needs. For this reason, it continues to adopt the 'going concem basis" in preparing these financial statements. 1.3 Income Reco nition of incomin resources These are included in the Statement of Financial Activities (SOFA) when.. the charity becomes entitled to the resources the trustees are virtually certain they wll re1ve the resources,. and th8 monetary value can be measured with sufhcient reliability. nditure Incomin resources with related ex When incoming resources have related expenditure (as with fundraising) the incoming reSoUrS and related expenditure are reported gross in the SOFA. Grants and donations Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Tax reclaims on donations and Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resour5 when receivable.
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Notes to the accounts for the year ended 31 December 2024 cont.d Donated services and facilities These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the Gharity of the service or facility reived, which is the amount the charity would have been willing to pay to obtain serviGes or facilities of equivalent economic benefit on the open market. Volunteer hel The value of any volunteer help received is not included in the accounts but is described in the trustees, annual report. Investment income This is included in the accounts when receivable. Investment ains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. Rental Income Hall hire rental income is included in the income and expenditure account net of collection charges and gross of caretaker fees on a receivable basis. Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity. this is normally upon notification of the interest paid or payable by the bank. 1.4 Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of the Gharity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Trust's work or for specific projects being undertaken by the Trust. There is no formal policy on the allocation of fijnds to designated funds. There is no formal policy of transfer between funds. Any proposed transfer belween funds would be considered on the particular CircumstanS. 12
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Notes to the accounts for the year ended 31 December 2024 cont.d 1.5 Expenditure and irrecoverable VAT Liabili reco nition Expenditure is recognised once there is a legal or construclive obligation to make a payment to a third paty, It is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classtried under the following headings-. Costs of raising funds comprise all of the costs involved in our fundraising events, i.e craft fayres, gospel cabaret's & community fireworks events Expenditure on charitable activities includes all the costs of furthering the purposes of the charity and their associated support costs. Investment expenses - caretaker fees for managing hall hires Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Allocation of su ort costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel and governance costs which support the Churches acttvities. These costs have not been allocated between cost of raising funds and expenditure on charitable activities because the charities fundraising activities are minimal, hence only the direct costs for raising funds are categorically stated on the SOFA. The only other potential cost that could have been allocated is staff costs", however all of our staff are volunteers. eratin leases The charity classtries the lease of computers and printing equipment as operating leases., the tit5e to the equipment remains with the lessor and the equipment is rePlad every 5 years whilst the economic life of such equipment is normally 4 years. Rental charges are charged on a straight line basis over the term of the lease. 1.6 Assets Tan ible fixed assets for use b the chari These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or a reasonable value on receipt excluding land and buildings which are stated at their re-valued amount. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful economic lives. A regular annual review of the likelihood of asset impaiment is undertaken. Equipment and Plant- 25010 Straight line Investments Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustee's best estimate of market value. 13
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Notes to the accounts for the year ended 31 December 2024 ¢onLd Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.7 Liabilities Creditors and rovisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past evenl that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade disrnunts due. 1.8 Accounting for branches United Kin dom Ministry of Restoration is headquartered in Walthamstow East London and has branches in Nottingham, Brixton (South London} and Carditr, these branches have no separate legal identity These branches are significantly small and have been consolidated into the accounts on an aG¢ruals basis. I nternational Ministry of Restoration has international branches in Jamaica and Nigeria; these branches have no separate legal identity. These branches are immaterially small and have been consolid2ted into the accounts on a cash basis. 1.9 Taxation The charity is exempt from tax on income and gains falling within section 521 to 538 of the Income Taxes Act 2007 (ITA 2007) or section 256 of the taxation of Chargeable Gains Act 1992 {TCGA 1992) to the extent that these are applied to its charitable objects. 2. Winding up or dissolution of the charity If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transterred to some other charitable body or bodies having similar objects to the charity. 14
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Notes to the accounts for the year ended 31 December 2024 cont.d 3. Income from donations 2024 2023 Offerings General donations Gift Aid 102,374 73,998 795 9,215 16,120 118,494 84,008 4. Other trading activities 2024 2023 Fundraising events 5. Other Income 2024 2023 Sundry income 49 1,033 Total incoming resources 118,543 85,041
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Notes to the accounts for the year ended 31 December 2024 conLd 6. Analysis of expenditure on charitable activities 2024 2023 Furthering th8 objects of the charity: Ministry. missionary & evangelism Music dept Audio visual dept Travel 8,308 7,253 7,203 7,867 9,650 4,896 4.393 7,395 30,631 26,334 Premises costs: Rent Utilities Building Insurarice Building repairs & maintenance 8,489 13,874 9,958 3,030 2,020 16,783 9,103 3,059 35.351 30,965 IT & Communications: 10,847 11,233 Office costs: 4,253 1,955 432 PRIMedia costs: 406 Governance costs: Independent examinerfs fee Other professional fees Bank charges Bank interest Loan interest Professional subscriptions Depreciation Equipment 1,200 1,020 2,594 1,200 428 2,864 9,935 9,762 154 6,128 5,738 20,487 20,536 other expenses: Sundries 230 228 Total cost of all church activities 102,205 91,683 16
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Notes to the accounts for the year ended 31 December 2024 conLd 7. Designated Funds- Shine Your Light Project 2024 Private Donation 45.139 Project Expenses Venue costs: Venue hire Licence and permissions 2,572 56 2,628 Technical costs: Sound Lighting Staging Security Visual & Production Filming 6,346 4,980 5,760 2,122 10,440 4,710 34,358 Logistical costs: Transportation Parking Accommodation Equipment other 4,526 198 2,520 3,059 102 10,405 Promotions: 630 Total project expenses 48.021 Project deficit- funded by MOR 12,882) Overview Shine Your Light was a flagship outreach carnpaign held from 13th to 15th December 2024, spanning three major UK cities-cardiff. London, and Nottingham. Coordinated by MOR Church in collaboration with a number of churches and community groups {shineyourlight.org.uk), the event brought together public carol services. live rnusic. dramatic performances, and scripture readings in high-footfall outdoor city locations. This large-scale initiative aimed to share the light of the gospel through creative expression and public witness during the Christmas season. 17
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Notes to the accounts for the year ended 31 December 2024 cont.d Purpose and Impact The campaign's central message-that Christ has come for all, and there is room for everyone in His story-was communicated through a mix of music, spoken word, dance, mime, and testimony. Performances were both live and filmed, with content shared across social media and in a televised Christmas Special aired on 21st DeMber. Over 1,200 people engaged in person across the three cities. Participants included adults, children, volunteers• performers. and passers-by, with dozens of conversations sparked about faith. The event provided a visible. hopeful Christian presence in city centres during the festive season. Structure and Coordination The event was planned over several months with detailed coordination between departments including Worshipi Creative Arts, Filmin& Sound, Lightin& Stagin& Volunteer Management, and Outreach Teams. Each day followed a robust operational schedule: Morning Setup: Mobile stage construction, AV installation, lighting rigging, Sound checks, and rehearsal. Afternoon & Evening Sessions: The gospel was presented through three themed acts-The Annunciation, The Shepherds, and The Wise Men. Filming & Post-production: All perforrnances were professionally filmed to form part of MOR'S Christma5 broadcast and ministry archive. Key partnerships were formed with local authoritie5 and city councils to ensure permissions, safety compliance, and community engagement were achieved effectively. Volunteer Involvement The campaign mobilised volunteers across three cities, covering roles such as stewarding, setup/teardown, hospitality, evangelism. and media support. Volunteer teams received pre-event training and were integral to the smooth running and atmosphere of each city event. Legacy & Lessons Learned Shine Your Light demonstrated the power of united. public witness and creative evangelism. The campaign strengthened inter-church relationships, inspired new partnerships for future outreach, and built a strong foundation for a recurring annual presence. Key lessons included the importance of: Early logistical planning and clear city-level coordination. Robust AV contingency planning for weather and power disruptions. Ongoing pastoral and follow-up mechanisms to connect with those impacted by the event. Is
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Notes to the accounts for the year ended 31 December 2024 conLd 8. Net incoming resources before transfers This Is stated after crediting: 2024 2023 Offerings and donations and after charging: 118,494 84,008 Operating leases- equipment Depreciation on owned fixed assets Independent examinef s fee Bank interest payable 2.046 5,738 1,200 1,185 6,128 1,200 9. Tangible functional fixed assets Land & Buildings Motor Equipment Vehicle and Plant Total Cost or valuation At 1 January 2024 Additions Revaluation 1,171,116 1,254 183,967 1,356,337 12,293 12,293 At 31 December 2024 1,171,116 1,254 196,260 1,368,630 Depreciation At 1 January 2024 Charge for the Year 1,254 177,990 5.738 179,244 5,738 At 31 December 2024 1,254 183,728 184,982 Net book value At 31 Dember 2024 1.171.116 12,532 1,183.648 At 31 December 2023 1,171,116 5,977 1,177,093 All assets are used for direGt charitable purposes and there are no inalienable or historic assets. 19
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Notes to the accounts for the year ended 31 December 2024 ¢onLd 2024 2023 10. Changes in resources applied for fixed assets Net movement in funds from Statement of Financial Activities Resources applied on fixed assets for charitable use Net movement in funds (neededvavailable for fvture artivities 13,456 12.293 (6,642) 1,163 (6,642) 11. Analysis of assets and liabilities representing each of the charity's funds Unrestricted Designated Restricted Funds Funds Funds Total Funds At 31 December 2024 Current assets Current liabilities 16.151 (46.597) 16,151 {46,597) (30.446) {30,446) At 1 January 2024 Current assets Current liabilities 12,772 (38,439) 12,772 {38,439) (25.667) {25,667) 12. Debtors 2024 2023 Other debtors Recoverable gift aid 500 9,047 12.747 12,747 9,547 20
MINISTRY OF RESTORATION INTERNATIONAL PENTECOSTAL CHURCH Notes to the accounts for the year ended 31 December 2024 conLd 13. Creditors: amounts falling due within one year 2024 2023 Trade Greditors Accrued expenses Sundry Loan 31,104 5,547 9,946 30,416 5,123 2.900 46,597 38,439 14. Creditors: amounts falling after more than one year 2024 2023 Secured bank loan (falling due in less than 5 years) Secured bank loan (falling due after 5 years) 85,350 54,072 85,350 65,752 139,422 151,102 The secured bank loan is secured on the church building in Walthamstow, London (MOR Headquarters) which had a carrying value of £850.000 when it was last revalued in 2005. The terms of the seourity provide for the lender to claim title to the property in the event of default on principal and interest payments should a restructuring of the loan not be possible. 21