2021-11-30-accounts - Precept Ministries (UK)

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

PRECEPT MINISTRIES UK ANNUAL REPORT

- 1 DECEMBER 2020 30 NOVEMBER 2021

A men’s Precept Bible Study meeting monthly both in person and online at St Paul’s Church, Salisbury, studying the 40 Minute study ‘Ignite Your Passion for God’

PRECEPT MINISTRIES UK ANNUAL REPORT 1 DECEMBER 2020 - 30 NOVEMBER 2021

ADMINISTRATIVE DETAILS

Name: Precept Ministries UK Charity Registration Number: 1072938 Our public name is Precept UK, but our official name remains Precept Ministries UK

Address: Christian Centre, Dews Road, Salisbury, Wiltshire SP2 7SN UK

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is constituted with a Board of Trustees and one National Director who oversees the running of the Ministry. The office which we rent from a local church is in Salisbury, Wiltshire. We employ 3 full-time staff: Helen Watts (National Director / Trainer); Sharon Goldie (Accounts / Administrator) and Zac Prosser (Marketing and Communications Manager). New Trustees are appointed by majority vote and are selected because of their professional competence and support for the Ministry work. Precept Ministries UK was set up in 1998 by Charity Trust Deed.

Routine decisions are made by the UK National Director. Major decisions about strategy, fundraising, staff recruitment and out-of-the ordinary staff matters (e.g. disciplinary) are decided corporately by Trustees in conjunction with the National Director. The Ministry is affiliated to Precept Ministries International based in Chattanooga, Tennessee, USA.

FINANCIAL REVIEW

The Ministry’s principle funding sources are voluntary donations and the sale of inductive Bible study resources with a profit being made this Financial Year of £5,329.66. The Ministry continues to take practical steps to tighten internal financial controls in line with the Charity Commission guidelines (CC8 Jul 12). A reserves policy of 3 months’ operating costs is in place and is monitored by the office and Trustees on an annual basis. Total sales for the year were £29,122 (a reduction on last year of 11% where more people were studying during the COVID-19 lockdown). Total donations were £69,374 (an 18% reduction on last year where we received £5,285 extra donation from PMI towards IT purchase and support costs, and a one-off donation from a ministry supporter of £12,000) . In addition to one-off gifts, 147 people regularly financially support us through standing orders or direct debits (a reduction of 8% on last year).

FUNDS HELD AS CUSTODIAN TRUSTEE ON BEHALF OF OTHERS

We have no funds held as custodian trustee on behalf of others.

PUBLIC BENEFIT STATEMENT

We confirm we have complied with our duties and obligations regarding public benefit.

OBJECTIVES AND ACTIVITIES

Precept Ministries UK equips all people with engaging and practical tools to study the Bible, so they know God better and are transformed into the likeness of Christ. As people engage with the Bible in this way, lives are transformed as the Word of God works in people’s hearts and minds. We encourage and facilitate training within the whole church as the Body of Jesus Christ, irrespective of denomination, race or background and supply inductive Bible study resources. We aim to help re-establish the authority of the Word of God in our nation.

MISSION, VISION AND VALUES

Our Mission is: ‘Engaging people in relationship with God through knowing His Word’

Our Vision is: ‘Every believer in Christ living out God’s Word every day’

PRECEPT MINISTRIES UK CORE VALUES

Our values determine decisions and behaviour: Truth, Unity, Service, Excellence and Innovation.

ACHIEVEMENTS AND PERFORMANCE

Introduction and impact of COVID

This year has continued to be dominated by the COVID-19 global pandemic and we have remained flexible in a continuously changing national situation. Most of our training has continued online apart from one visit in August 2021 to the Shetland Islands. Our social media presence has continued to grow and we have 1,430 followers on our YouTube channel, up from 1,000 a year ago. As the uncertainty of the COVID pandemic continues, we have streamlined the ministry and adapted working practices to cope. During the year we decided to change from working from home mostly to working at home three days per week and in the office for the other two.

Impact on Lives

The impact that Precept has had on lives this year across the UK is both exciting and humbling.

One example is of Joel (photo to right) who wakes at 6.30am to study God’s Word using Precept’s books for children, and was nominated to join his school council and suggested inductive study as an after-school club.

Training Across the Ages

We offered 20 training workshops across a wide range of ages from children to youth and adults. Our desire is to equip people from all ages and stages of faith.

We started a youth study on Monday evenings on a highly relevant topic for youth, ‘How to Make Choices You Won’t Regret.’ Edward, (photo to right) , joined us from university whilst others joined from across the UK. The youth enjoyed the study so much they will continue with a new study in 2022.

Our children’s study day in January 2021 was well attended and new Bible study groups for children started as a result. Debbie (photo below right) works in an Anglican church and uses our children’s studies in her church and saw first-hand how practical and effective the studies were.

Other training workshops included training leaders how to study books of the Bible using the New Inductive Study Series, Precept Upon Precept series (at advanced and beginner level), the In and Out and 40 Minute series. We also led Easter and Christmas taster “discovery” sessions.

In addition to offering training workshops we continued to encourage men by meeting once a month to study the Word together (photo to right) . We had a sizeable number join from all over the UK. Linking together in a WhatsApp group helped to grow lasting friendships too.

Regular meetings took place for Precept Bible study group leaders , who we encouraged to share stories of the impact of studying God’s word together.

Offering advanced leader training was well received (and this will continue into 2022), so too were our regular fortnightly Precept Upon Precept studies (photo to right) on Daniel, Lamentations and 1 Peter, which we offered as a ‘hybrid’ towards the end of the year.

Precept Bible School. We offered three courses on our Precept Bible School this year (Malachi, 2 Timothy and Ruth). We had people join from many places – see photo below for attendance at the Malachi PBS in February:

Grace sent us this feedback after the course: “ This opened my eyes to a deeper understanding of the Bible and helped me realise that studying the Bible is so different to just reading it. There are so many truths to uncover by cross references, taking the time to slow down – a real benefit. I wouldn't have known to do this otherwise. I can now apply this to other books of the Bible. It’s been great to be taught IBS study techniques in such depth. I have a greater understanding of God’s holiness, that He is the same yesterday, today and forever so the OT is still significant today . I also now have a greater understanding of Bible history. Would definitely attend again .”

Precept Leader Academy (PLA). The British Isles Director, Nigel Watts and the UK Director, Molly Watts participated in two Precept Leader Academies this year, hosted and by led by the Precept Eurasia Director, Vasile Filat. They joined with directors from many countries to study the names of God and Paul’s letter to Titus.

The purpose of the PLA is to train trainers to use Precept’s wide variety of study materials to be able to raise up leaders across the nation.

Administration

Sharon has worked tirelessly this year using her outstanding administrative and financial skills to keep the ministry operating on a daily basis.

She has despatched over 2,800 books, printed hundreds of Precept studies, kept accounts meticulously, written our weekly Prayer bulletin, just to name a few of her responsibilities.

She is being used mightily by God to bless thousands of people and as a ministry we are so grateful.

Social Media / Marketing / Communications

Zac Prosser has continued to reach out to constituents and beyond across a wide variety of social media platforms.

Through his efforts our Facebook subscribers are over 1,800, we have 1,430 followers on YouTube with some 142,200 minutes watched with 25,200 views.

His creativity and talents have been used to reach thousands of people and encourage them in their own journey of faith.

GOING FORWARD

Other goals looking forward include:

Hosting a new Precept Bible School curriculum
Being responsible for the running of the Precept Leader Academy from Autumn 2022
Refining and enhancing certain administrative processes
Creating more film content for constituents
Employ one new part-time administrative assistant

Precept UK Office Staff Nigel, Molly, Sharon and Zac

Lastly, we received this feedback from one of our Precept constituents:

“I am so grateful to God for your ministry. My last minute realisation ‘aaggh….Lent starts on Wednesday…what am I going to study? took me to my bookcase and I saw the title ‘Lord I Want To Know You’. I opened it up on the first day of Lent and honestly, I have and I’m being so incredibly blessed by great deeper in my understanding of God through His names. Day one started with Proverbs 18 verse 10, ‘The name of the Lord is a strong tower, the righteous run into it and is safe’ and each day since then I have been taken on this amazing journey of getting to know my Father more intimately, which is deepening my approach to him in prayer, and impacting my daily worship of Him. This is having a profound impact on how I am approaching the trials and challenges in my life. Your study books are truly being used in a powerful way in my life”.

ADDITIONAL REFERENCE AND ADMINISTRATIVE MATTERS

The day-to-day management has been delegated by the Trustees to Helen Watts (National Director, also known as ‘Molly’). Rawlence and Browne provide payroll services, and Clifford Fry and Co LLP are providing the Independent Examination service. The Charity did not experience any serious incidents during the year that should have been brought to their, or the Charity Commission’s, attention.

ADDITIONAL INFORMATION ABOUT STRUCTURE, GOVERNANCE AND MANAGEMENT

Below are pie charts for income and expenditure for the FY 2020/2021:

NAMES OF THE CHARITY TRUSTEES WHO MANAGE THE CHARITY

	NAMES OF THE CHARITY TRUSTEES	WHO MANAGE THE CHARI
	Trustee Name	*Dates acted(if not for* whole year)**
1	Mr Nigel Watts - Chair
2	Mr John Butterworth
3	Mr Rob Guinney
4	Mrs Jane Guinney
5	Mr Nic Arkley

The Trustees declare that they have approved the Trustees Report above

	1	2
Signature(s)	Original Signed
Full Name(s)	Nigel John Iremonger Watts
Position_(e.g. Chair)_	Chair
Date	6 Apr 2022

	PRECEPT MINISTRIES UK	PRECEPT MINISTRIES UK	PRECEPT MINISTRIES UK	Charity No:	1072938	*CC17* *(FRS102)*
	Annual Accounts for theperiod
	Period start date	01/12/2020	To	Period end date	30/11/2021

Section A	Statement of Financial Activities
Recommended categories by activity Guidance Notes Incoming resources (Note 3) Income and endowments from: Donations and legacies S01 Charitable activities S02 Other trading activities S03 Investments S04 Separate material item of income S05 Other S06 S07 Resources expended (Note 6) Expenditure on: Raising funds S08 Charitable activities S09 Separate material item of expense S10 Other S11 S12 S13 Net gains/(losses) on investments S14 S15 Extraordinary items S16 S17 S18 Other gains/(losses) S19 S20 *Reconciliation of funds:* S21 S22 *Total* *Net movement in funds* Total funds brought forward Total funds carried forward *Total* Net income/(expenditure) before investment gains/(losses) Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains and losses on revaluation of fixed assets for the charity’s own use		Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05
		69,374	-	-	69,374	84,614
		29,122	-	-	29,122	33,116
		3,275	-	-	3,275	4,195
		4	-		4	25
		-	-	-	-	-
		34	-	-	34	181
		101,809	-	-	101,809	122,131

		16,699	-	-	16,699	18,911
		79,780	-	-	79,780	85,940
		-	-	-	-	-
		1	-	-	1	1
		96,480	-	-	96,480	104,852

		5,329	-	-	5,329	17,279
		-	-	-	-	-
		5,329	-	-	5,329	17,279
		-	-	-	-	-
		-	-	-	-	-

		-	-	-	-	-
		-	-	-	-	-
		5,329	-	-	5,329	17,279


		67,425	-	-	67,425	50,146
		72,754	-	-	72,754	67,425

Section B Balance Sheet

Fixed assets Intangible assets (Note 15) Tangible assets (Note 14) Heritage assets (Note 16) Investments (Note 17) *Total fixed assets* Current assets Stocks (Note 18) Debtors (Note 19) Investments (Note 17.4) Cash at bank and in hand (Note 24) *Total current assets* Creditors: amounts falling due within one year (Note 20) *Net current assets/(liabilities)* *Total assets less current liabilities* Creditors: amounts falling due after one year (Note 20) Provisions for liabilities *Total net assets or liabilities* Funds of the Charity Endowment funds (Note 27) Restricted income funds (Note 27) Unrestricted funds Revaluation reserve *Total funds*	Guidance Notes B01 B02 B03 B04 B05 B06 B07 B08 B09 B10 B11 B12 B13 B14 B15 B16 B17 B18 B19 B20 B21	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
		-	-	-	-	-
		6,023	-	-	6,023	6,988
		-	-	-	-	-
		-	-	-	-	-
		6,023	-	-	6,023	6,988

		13,275	-	-	13,275	12,530
		1,313	-	-	1,313	2,171
		-	-	-	-	-
		55,075	-	-	55,075	47,316
		69,663	-	-	69,663	62,017

		2,932	-	-	2,932	1,580

		66,731	-	-	66,731	60,437

		72,754	-	-	72,754	67,425

		-	-	-	-	-
		-	-	-	-	-

		72,754	-	-	72,754	67,425

		-	-	-	-	-
		-	-		-	-
		72,754	-	-	72,754	67,425
					-
		72,754	-	-	72,754	67,425

Signed by one or two trustees on behalf of all the trustees		Signature		Print Name		Date of approval dd/mm/yyyy
	Original Signed			NJI Watts

CC17a (Excel)

07/02/2022

Section C Notes to the accounts

Note 1 Basis of preparation This section should be completed by all charities

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:

the Statement of Recommended Practice: Accounting and Reporting by Charities • and with  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 the Financial Reporting Standard applicable in the United Kingdom and Republic of • and with  Ireland (FRS 102) • and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.*



* Tick as appropriate

1.2 Going concern

If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:

An explanation as to those factors that support There is no threat of liquidation within 12 months. The charity the conclusion that the charity is a going declares its intention to keep running its activities at least for the concern; next year and to prepare financial statements accordingly. Disclosure of any uncertainties that make the Not applicable going concern assumption doubtful; Where accounts are not prepared on a going concern basis, please disclose this fact together with the basis on which the trustees Not applicable prepared the accounts and the reason why the charity is not regarded as a going concern.

1.3 Change of accounting policy

The accounts present a true and fair view and the accounting policies adopted are those outlined in notes 2.2 and 2.3.

Yes  * Tick as appropriate No

CC17a (Excel)

07/02/2022

Please disclose:

*Please disclose:*
*(i) the nature of the change in accounting policy;*	Not applicable
*(ii) the reasons why applying the new accounting policy* *provides more reliable and more relevant information;* *and*	Not applicable
*(iii) the amount of the adjustment for each line affected* *in the current period, each prior period presented and* *the aggregate amount of the adjustment relating to* *periods before those presented, 3.44 FRS 102 SORP.*	Not applicable

1.4 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).

Yes  No *Please disclose:*		* Tick as appropriate	* Tick as appropriate


*(i) the nature of any changes;*			Not applicable
*(ii) the effect of the change on income and expense or* *assets and liabilities for the currentperiod; and*			Not applicable
*(iii) where practicable, the effect of the change in one or* *more futureperiods.*			Not applicable

1.5 Material prior year errors

No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).

Yes  * Tick as appropriate No

Yes  No * Tick as appropriate	Yes  No * Tick as appropriate
*Please disclose:*
*(i) the nature of the prior period error;*	Not applicable
*(ii) for each prior period presented in the accounts, the* *amount of the correction for each account line item* *affected; and*	Not applicable
*(iii) the amount of the correction at the beginning of the* *earliestpriorperiodpresented in the accounts.*	Not applicable

CC17a (Excel)

07/02/2022

Section C Notes to the accounts (cont)

Note 2 Accounting policies

Please complete this note when first reporting under FRS102. Section 35 of FRS102, requires 3 reconciliations to be presented, if all are applicable.

2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE

Please provide a description There has been a change during 2021. The Accounting system was moved of the nature of each change from Quickbooks Desktop to Quickbooks Online which meant a change to stock in accounting policy valuation from average cost to first in, first out (FIFO) (this was system-forced).

Reconcilation of funds per previous GAAP to funds determined under FRS 102

Start of End of period period £ £

Fund balances as previously stated Adjustments:

Fund balance as restated

Reconcilation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS102

End of period £

Net income/(expenditure) as previously stated Adjustments:

Previous period net income/(expenditure) as restated

CC17a (Excel)

07/02/2022

Section C Notes to the accounts (cont)

Note 2 Accounting policies

2.2 INCOME

2.2 INCOME	2.2 INCOME	2.2 INCOME	2.2 INCOME
This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a different or additionalpolicy has been adopted then this is detailed in the box below.
Recognition of income Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA. Donated services and facilities Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably. Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'. Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SOFA as incoming resources when receivable. The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution. Gifts in kind for use by the charity are included in the SOFA as income from donations when receivable. Support costs Contractual income and performance related grants Offsetting Grants and donations Grants and donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). This is only included in the SOFA once the charity has provided the related goods or services or met the performance related conditions. Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP). Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. Government grants The charity has received government grants in the reporting period Tax reclaims on donations and gifts Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. Donated goods These are included in the Statement of Financial Activities (SOFA) when: • the charity becomes entitled to the resources; · it is more likely than not that the trustees will receive the resources; and • the monetary value can be measured with sufficient reliability. Income from interest, royalties and dividends This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. Income from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities. There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. The charity has incurred expenditure on support costs. Volunteer help	Yes No N/a
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	Yes No N/a
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	Yes No N/a
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	Yes No N/a
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	Yes No N/a	Yes No N/a	Yes No N/a
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£100

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	Yes No N/a
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Current asset investments

The charity has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall They are valued at fair value except where they qualify as basic financial instruments.

Yes No N/a	Yes No N/a	Yes No N/a
	
Yes No N/a
		

POLICIES ADOPTED Not applicable ADDITIONAL TO, OR DIFFERENT FROM, THOSE ABOVE

Section C Notes to the accounts (cont)

Note 3 Analysis of income

Note 3	Analysis of income	Analysis of income	Analysis of income	Analysis of income	Analysis of income	Analysis of income
Donations and legacies: Charitable activities: TOTAL INCO Other: Other trading activities: Income from investments: Separate material item of income:	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £ Analysis
	Donations and gifts	59,087		-	59,087	74,005
	Gift Aid	10,287	-	-	10,287	10,609
	Legacies	-	-	-	-	-
	General grants provided by government/other charities	-	-	-	-	-
	Membership subscriptions and sponsorships which are in substance donations	-	-	-	-	-
	Donated goods, facilities and services	-	-	-	-	-
	Other	-	-	-	-	-
	Total	69,374	-	-	69,374	84,614

	Sale of books, CDs, DVDs and other items	29,122	-	-	29,122	33,116
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Total	29,122	-	-	29,122	33,116

	Conference / Workshop Fees	3,275	-	-	3,275	4,195
		-	-	-	-	-
		-	-	-	-	-
	Other	-	-	-	-	-
	Total	3,275	-	-	3,275	4,195

	Interest income	4	-	-	4	25
	Dividend income	-	-	-	-	-
	Rental and leasing income	-	-	-	-	-
	Other	-	-	-	-	-
	Total	4	-	-	4	25

		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Total	-	-	-	-	-

	Conversion of endowment funds into income	-	-	-	-	-
	Gain on disposal of a tangible fixed asset held for charity's own use	-	-	-	-	-
	Gain on disposal of a programme related investment	-	-	-	-	-
	Royalties from the exploitation of intellectual property rights	-	-	-	-	-
	Other	34	-	-	34	181
	Total ME	34	-	-	34	181
		101,809	-	-	101,809	122,131

Other information:

All income in the prior year was unrestricted except for: (please provide description and amounts)

Where any endowment fund is converted into income in the reporting period, please give the reason for the conversion.

Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)

Not applicable Not applicable Last year £5,285 was contributed by Precept International towards new IT and other support costs and the Ministry received a one-off donation of £12,000 from one individual.

CC17a (Excel)

07/02/2022

Section C Notes to the accounts (cont)

Note 4 Analysis of receipts of government grants

Note 4 Analysis of receipts of government grants	eceipts of government grants	eceipts of government grants	eceipts of government grants
This year Last year £ £ Government grant 1 Not applicable - - Government grant 2 - - Government grant 3 - - Other - - Total - - Not applicable Not applicable *Please provide details of any unfulfilled conditions and other* *contingencies attaching to grants that have been recognised in* *income.* *Please give details of other forms of government assistance from* *which the charity has directly benefited.* Description	This year Last year £ £ Description
	Not applicable	-	-
		-	-
		-	-
		-	-
		-	-

		Not applicable

		Not applicable

CC17a (Excel)

07/02/2022

Section C Notes to the accounts (cont)

Note 5 Donated goods, facilities and services

Seconded staff Use of property Other		This year Last year £ £	This year Last year £ £
		-	-
		-	-
		-	-
		-	-

Please provide details of the accounting policy for the recognition and valuation of donated goods, facilities and services.	Not applicable
Please provide details of any unfulfilled conditions and other contingencies attaching to resources from donated goods and services not recognised in income. Please give details of other forms of other donated goods and services not recognised in the accounts, eg contribution of unpaid volunteers.
	Not applicable

	Mr Nigel Watts is a voluteer PUK Director There are other volunteers that help the ministry from running training to helping man a book stand at an event, when they are held (there have not been any this year).

CC17a (Excel)

07/02/2022

Section C Notes to the accounts (cont)

Note 6 Analysis of expenditure

Analysis	Unrestricted funds Restricted income funds Endowment funds Total funds £ Prior year £	Unrestricted funds Restricted income funds Endowment funds Total funds £ Prior year £	Unrestricted funds Restricted income funds Endowment funds Total funds £ Prior year £	Unrestricted funds Restricted income funds Endowment funds Total funds £ Prior year £	Unrestricted funds Restricted income funds Endowment funds Total funds £ Prior year £
Incurred seeking donations	-	-	-	-	-
Incurred seeking legacies	-	-	-	-	-
Incurred seeking grants	-	-	-	-	-
Operating membership schemes and social lotteries	-	-	-	-	-
Staging fundraising events	-	-	-	-	-
Fundraising agents	-	-	-	-	-
Operating charity shops	-	-	-	-	-
Operating a trading company	-	-	-	-	-
Advertising, marketing, direct mail and publicity	-	-	-	-	-
Start up costs incurred in generating newsource of futureincome	-	-	-	-	-
Database development costs	-	-	-	-	-
Other trading activities	16,699	-	-	16,699	18,911
Investment management costs:	-	-	-	-	-
Portfolio management costs	-	-	-	-	-
Cost of obtaininginvestment advice	-	-	-	-	-
Investment administration costs	-	-	-	-	-
Intellectualpropertylicencingcosts	-	-	-	-	-
Rent collection, property repairs and maintenance charges	-	-	-	-	-
Total expenditure on raising funds	16,699	-	-	16,699	18,911

Conferences/Workshops	663	-	-	663	831
Salary Costs	60,375	-	-	60,375	60,683
Charitable Activities Costs	18,310	-	-	18,310	23,946
Independent Examination Fee	432	-	-	432	480
Total expenditure on charitable activities	79,780	-	-	79,780	85,940

	-	-	-	-	-
	-	-	-	-	-
Total material item of expense	-	-	-	-	-

Rounding adjustment	1	-	-	1	1
	-	-	-	-	-
URE Total other expenditure	1	-	-	1	1
	96,480	-	-	96,480	104,852

Other information (Analysis of expenditure on charitable activities):

Other information	(Analysis of expenditure on charitable activities):	(Analysis of expenditure on charitable activities):
Activity or programme	Activities undertaken directly		Grant funding of activities	Support Costs	Total this year	*Total* *prior year*
		£	£	£	£	£
Activity1
Activity2
Other
Total
Within the expenditure items above the following items are material: (please disclose the nature, amount and any prior year amounts) Prior year expenditure on charitable activities can be analysed as follows:
		Not applicable

		Not applicable

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Section C Notes to the accounts (cont)

Note 7 Extraordinary items

Please explain the nature of each extraordinary item occurring in the period.

*period.*
Extraordinary item 1 Not applicable Extraordinary item 2 Extraordinary item 3 Extraordinary item 4 Total extrordinary items Description	Description	This year Last year £ £
	Not applicable	-	-

		-	-
		-	-
		-	-

		-	-
		-	-

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Section C Notes to the accounts (cont)

Note 8 Funds received as agent

8.1 Please complete this note if the charity has agreed to administer the funds of another entity as its agent. Note: If a charity is acting as an agent, it should not recognise the income in the Statement of Financial Activities or the Balance Sheet.

*Financial Activities or the Balance Sheet.*	*Financial Activities or the Balance Sheet.*
		Amount received		Amount paid out		Balance held at period end
Description/name of party	Related party (Yes or No)	This year	Last year	This year	Last year	This year	Last year
		£	£	£	£	£	£
Not applicable		-	-	-	-	-	-
		-	-	-	-	-	-
		-	-	-	-	-	-
		-	-	-	-	-	-
		-	-	-	-	-	-
Total		-	-	-	-	-	-

8.2 Where a consortia or similar arrangement exists whereby 2 or more charities co-operate to achieve economies in the purchase of goods or services, please discose details of any balances outstanding between any participating members.

*between any participating members.*
Description/name of party	Balance held at period end
	Thisyear	Lastyear
	£	£
	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-

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Section C Notes to the accounts (cont

Note 9 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

*costs.*
Support cost	Raising funds £	Activity 1 £	Activity 2 £	Activity 3 £	Grand total £	Basis of allocation
						(Describe method)
Not applicable	-	-		-	-
	-	-		-	-
	-	-		-	-
	-	-		-	-
	-	-		-	-
Total	-	-		-	-

Please provide details of the accounting policy adopted for the apportionment of costs between activities and any estimation techniques used to calculate their apportionment.

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Section C Notes to the accounts (cont

Note 10 Details of certain items of expenditure

10.1 Fees for examination of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).

*Please provide details of the amount paid for any statutory external scrutiny of* *accounts and other services provided by your independent examiner. If nothing* *was paid please enter '0' in the appropriate box(es).* 10.1 Fees for examination of the accounts
Other fees (for example: financial advice, consultancy, accountancy services paid to the independent examiner) Independent examiner’s fees Assurance services other than audit or independent examination Tax advisory fees	This year £	Last year £
	480	480
	-	-
	-	-
	-	-

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Section C Notes to the accounts (cont)

Note 11 Paid employees Please complete this note if the charity has any employees.

Salaries and wages 11.1 Staff Costs Social security costs Other employee benefits Total staff costs Pension costs (defined contribution scheme) Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party *Please give details of the number of employees whose total* *employee benefits (excluding employer pension costs) fell within* *each band of £10,000 from £60,000 upwards. If there are no such* *transactions, please enter 'true' in the box provided.* No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000
	This year £	Last year £
	60,375	60,683
	-	-
	-	-
	-	-
	60,375	60,683

	None

	TRUE
	TRUE

Band	Number of employees	Number of employees	Number of employees
£60,000 to £69,999		0
£70,000 to £79,999		0
£80,000 to £89,999		0
£90,000 to £99,999		0
£100,000 to £109,999		0
11.2 Average head count in the year Please provide the total amount paid to key management personnel (includes trustees and senior management) for their services to the charity The parts of the charity in which the employees work
	Mrs Helen Watts (National	Director) £22,167 (gross)

		This year Number	Last year Number
	Fundraising	0.11	0.11
	Charitable Activities	2.64	2.64
	Governance	0.25	0.25
	Other	-	-
	Total	3.00	3.00

Other - - Total 3.00 3.00	Other - - Total 3.00 3.00
11.3 Ex-gratia payments to employees and others (excluding trustees)
*Please complete if an ex-gratia payment is made.*
Please explain the nature of the payment	Not applicable

Please state the legal authority or reason for making the payment	Not applicable
Please state the amount of the payment
(or value of any waiver of a right to an	Not applicable
asset)
11.4 Redundancy payments
*Please complete if any redundancy or termination payment is made in the period.*
Total amount of payment	Not applicable
The nature of the payment (cash, asset etc.)	Not applicable

The extent of redundancy funding at the balance sheet date	Not applicable
Please state the accounting policy for
any redundancy or termination	Not applicable
payments

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Section C Notes to the accounts (cont)

Note 12 Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme.

12.1 Please complete this note if a defined contribution pension scheme is operated.

Amount of contributions recognised in Not applicable the SOFA as an expense Please explain the basis for allocating the liability and expense of defined All eligible employees were offered the new statutory workplace contribution pension scheme between pension. PUK opted to use NEST, however, all eligible employees activities and between restricted and opted out of the scheme. unrestricted funds.

12.2 Please complete this section where the charity participates in a defined benefit pension plan but is unable to ascertain its share of the underlying assets and liabilities.

Please confirm that altough the scheme is accounted for as a defined Not applicable contribution plan, it is a defined benefit plan. Please provide such information as is available about the plan's surplus or Not applicable deficit and the implications, if any, for the reporting charity

12.3 Please complete this section where the charity participates in a multi-employer defined benefit pension plan that is accounted for as a defined contribution plan.

Describe the extent to which the charity can be liable to the plan for other entities' obligations under the terms Not applicable and conditions of the multi-employer plan

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Section C Notes to the accounts (cont)

Note 13 Grantmaking

Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

13.1 Analysis of grants paid (included in cost of charitable activities)

.
Analysis	~~Grants to~~ institutions	~~Grants to~~ individuals	Support costs	Total
Activityorproject 1	Not applicable		£	£
Activityorproject 2			-	-
Activityorproject 3			-	-
Activityorproject 4			-	-
*Total*	-	-	-	-

Please enter “Nil” if the charity does not identify and/or allocate support costs.

13.2 Grants made to institutions

13.2 Grants made to institutions	13.2 Grants made to institutions
*My charity has made grants to particular institutions that are* *material in the context of its grantmaking. Details of the institution* *supported, purpose of the grant and total paid to each institution is* *available on the charity's web site.*			*Please provide* *details of charity's* *URL*
		No	*Provide details* *below*

Names of institution	Purpose		Total amount of grants paid £
Not applicable			-
			-
			-
*TOTAL GRANTS PAID* *Total grants to institutions in reporting period* *Other unanalysed grants*			-
			-
			-

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Section C Notes to the accounts (cont)

Note 14 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets 14.1 Cost or valuation

Freehold land & buildings £	Other land & buildings £	Plant, machinery and motor vehicles £	Fixtures, fittings and equipment £	Total £
-	-	29,285	25,265	54,550
-	-	-	1,265	1,265
-	-	-	-	-
-	-	-	-3,241	-3,241
-	-	-	-	-
-	-	29,285	23,289	52,574

14.2 Depreciation and impairments

SL	SL	SL	SL
		5 years / fully depreciated	5 years
- - 29,285 18,277 47,562 - - - -3,241-3,241 - - -2,230 2,230 - - - - - - - - - - -- 29,285 17,266 46,551 - - - 6,988 6,988 - - - 6,023 6,023
-	-	-	6,988	6,988
-	-	-	6,023	6,023

14.4 Impairment

Please provide a description of the events and circumstances that led to the recognition or Not applicable reversal of an impairment loss.

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14.5 Revaluation

If an accounting policy of revaluation is adopted, please provide: the effective date of the revaluation Not applicablepplicablelicable

Not applicablepplicablelicable Not applicable Not applicable Not applicable

the name of independent valuer, if applicable the methods applied and significant assumptions the carrying amount that would have been recognised had the assets been carried under the cost model.

14.6 Other disclosures

(i) Please state the amount of borrowing costs, if any, capitalised in the construction of tangible fixed assets and the capitalisation rate used. (ii) Please provide the amount of contractual commitments for the acquisition of tangible fixed assets. (iii) Details of the existence and carrying amounts of property, plant and equipment to which the charity has restricted title or that are pledged as security for liabilities.

None None None

* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

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Section C Notes to the accounts (cont)

Note 15 Intangible assets Please complete this note if the charity has any intangible assets

15.1 Cost or valuation

Research & development £	Patents and trademarks £	Other £	Total £
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-

15.2 Amortisation and impairments



- - - - - - - - - - - - - - - - - - - - ---- - - - - - - - -
-	-	-	-
-	-	-	-

15.4 Accounting policy Please disclose the accounting policy for intangible fixed assets including: Reasons for choosing Not applicable amortisation rates Policies for the recognition of any Not applicable capital development

15.5 Impairment

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Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.

Not applicable

15.6 Revaluation

If an accounting policy of revaluation is adopted, please provide: the effective date of the revaluation Not applicableot applicablet applicableapplicablelicablecablelee

Not applicableot applicablet applicableapplicablelicablecablelee Not applicable Not applicable Not applicable

the name of independent valuer, if applicable the methods applied the carrying amount that would have been recognised had the assets been carried under the cost model.

15.7 Other disclosures

(i) If your intangible asset was acquired by way of grant, provide value on initial recognition and carrying amount of the asset.

(ii) Details of the carrying amounts of any intangible assets to which the charity has restricted title or that are pledged as security for liabilities.

(iii) Please provide the amount of contractual commitments for the acquisition of intangible assets.

(iv) State the amount of research and development expenditure recognised as expenditure in the year.

(vi) Please detail the headings in the SOFA in which a charge for amortisation of intangible assets is included.

(vii) For any material intangible assets, please provide a description, its carrying amount and any remaining amortisation period.

Not applicable Not applicable Not applicable Not applicable Not applicable Not applicable

The "transfers" row is for movements between fixed asset categories.

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07/02/2022

Section C Notes to the accounts (cont)

Note 16 Heritage assets Please complete this note if the charity has heritage assets

16.1 General disclosures for all charities holding heritage assets

(i) Explain the nature and scale of heritage assets held.

Not applicable

(ii) Explain the policy for the acquisition, preservation, management and disposal of heritage assets.

16.2 Cost or valuation

16.2 Cost or valuation
At beginning of the year Additions Disposals Revaluations Transfers At end of the year *Basis Rate** At beginning of the year Disposals Depreciation Impairment Transfers At end of year Nat book value at the beginning of the year Net book value at the end of the year 16.3 Depreciation and impairments 16.4 Net book value*	Heritage asset 1 £	Heritage asset 2 £	Heritage asset 3 £	Heritage asset 4 £	Total £
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
						Straight Line ("SL") or Reducing Balance

	- - - - - - - - - - - - - - - - - - - - - - - - - ----- - - - - - - - - - -
	-	-	-	-	-
	-	-	-	-	-

16.5 Impairment

Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.

16.6 Revaluation

If an accounting policy of revaluation is adopted, please provide: the effective date of the revaluation

the name of independent valuer, if applicable qualifications of independent valuer the methods applied and significant assumptions any significant limitations on the valuation

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16.7 Analysis of heritage assets by class or group distinguishing those at cost and those at valuation

At valuation Group A £	At cost Group B £	Total £
-	-	-
-	-	-
-	-	-
-	-	-
-	-	-
-	-	-

16.8 Heritage assets (where heritage assets are not recoignised on the balance sheet)

(i) Explain the reason why heritage assets have not been recognised on the balance sheet.

(ii) Describe the significance and nature of heritage assets.

(iii) Disclose information that is helpful in assessing the value of heritage assets.

(iv) Explain the reason why it is not practicable to obtain a valuation of heritage assets.

Not applicable Not applicable Not applicable Not applicable

16.9 Five year summary of heritage assets transactions

2015	2014	2013	2012	2011
£	£	£	£	£

-	-	-	-	-
-	-	-	-	-
-
-

-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-


-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-


-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-

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Section C Notes to the accounts (cont)

Note 17 Investment assets

Please complete this note if the charity has any investment assets.

17.1 Fixed assets investments (please provide for each class of investment)

Cash & cash equivalents	Listed investments	Investment properties	Social investments	Other	Total
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-

Please specify additions resulting from acquisitions through business combinations, if* Not applicable any.**

Please note that Fair Value in this context is the amount for which an asset could be exchanged between knowlegable and willing parties in an arm's length transaction. For traded securities, the fair value is the value of the security quoted on the London Stock Exchange Daily Official List or equivalent. For other assets where there is no market price on a traded market, it is the trustees' or valuers' best estimate of fair value.

17.2 Please provide a breakdown of investments shown above agreeing with the balance sheet row B04 differentiating between those held at fair value and those held at cost less impairment.

Analysis of investments

Analysis of investments
Cash or cash equivalents Investment properties Grand total (Fair value at year end+Cost less impairment) Total Social investments Other investments Listed investments	Fair value at year end £	Cost less impairment £
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-

17.3 If your charity holds investment properties, please complete the following note:

(i) Explain the methods and significant assumptions in determining the fair value of investment property held by the charity

(ii) Name or independent valuer, if applicable, and relevant qualifications

(iii) Provide details of any restrictions on the ability to realise investment property or on the remittance of income or disposal proceeds (iv) Explain any contractual obligations for the purchase, construction or development of investment property or for repairs, maintenance or enhancements

Not applicable Not applicable Not applicable Not applicable

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17.4 Please provide a breakdown of current asset investments, if applicable, agreeing with the balance sheet.

	Thisyear £	Lastyear £	Lastyear £	Lastyear £
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-
Not applicable
Not applicable
Not applicable
*Description*			Thisyear £	Lastyear £
Not applicable

*Total*

*Description*			Thisyear £	Lastyear £
Not applicable

*Total*

Not applicable
Not applicable
Not applicable
Not applicable
Not applicable
Not applicable

17.7 Additional information

Please provide information about the significance of investments to the charity's financial position or performance eg. terms and conditions of loans or the use of hedging to manage financial risk.

Not applicable Not applicable Not applicable

For all investments measured at fair value, the basis for determining the value, including any assumptions applied when using a valuation technique.

Where a charity has provided financial assets as a form of security, the carrying amount of the financial asset pledged as security and the terms and conditions relating to its pledge.

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Section C Notes to the accounts (cont)

Note 18 Stocks Please complete this note if the charity holds any stock items

18.1 Please state the carrying amount of stock and work in progress analysed between activities.

Stock	Stock	Donated goods	Donated goods	Work in progress
For distribution	For resale	For distribution	For resale
£	£	£	£	£

-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-


-	12,530	-	-	-
-	13,116	-	-	-
-	-12,155	-	-	-
-	-217	-	-	-
-	13,274	-	-	-


-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	13,274	-	-	-
-	12,530	-	-	-

18.2 Please specify the carrying amount of any stocks pledged as security for liabilities

Not applicable

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Section C Notes to the accounts (cont)

Note 19 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Note 19 Debtors and prepayments *Please complete this note if the charity has any debtors or prepayments.*
19.1 Analysis of debtors Trade debtors Prepayments and accrued income Other debtors Total	This year £	Last year £
	477	122
	836	2,049
	-	-
	1,313	2,171

Please complete 19.2 where a material debtor is recoverable more than a year after the reporting date.

19.2 Analysis of debtors recoverable in more than 1 year (included in debtors above)

Trade debtors Prepayments and accrued income Other debtors Total	This year £	Last year £
	-	-
	-	-
	-	-
	-	-
	-	-

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Section C Notes to the accounts (cont)

Note 20 Creditors and accruals

Please complete this note if the charity has any creditors or accruals.

20.1 Analysis of creditors

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
-	-	-	-
-	-	-	-
338	60	-	-
-	-	-	-
1,874	842	-	-
720	678	-	-
-	-	-	-
2,932	1,580	-	-

20.2 Deferred income

Please complete this note if the charity has deferred income.

Please explain the reasons why income is deferred.

During the Financial Year, bookings and payments to attend the Precept Bible School during 2022 (i.e. the next Financial Year) were received so are carried on the Balance Sheet to next Financial Year.

*Movement in deferred income account* Balance at the start of the reporting period Amounts added in current period Amounts released to income from previous periods Balance at the end of the reporting period	This year £	Last year £
	-	-
	1,322	210
	-	-
	1,322	210

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Section C Notes to the accounts (cont)

Note 21 Provisions for liabilities and charges

Please complete this note if you have included in charity expenditure any provisions. A provision is made when the charity has a liability of uncertain timing or amount.

21.1 Please provide: - a brief description of any obligations on the balance sheet and the expected amount and timing of resulting payments;

balance sheet and the expected amount and timing Not applicable of resulting payments; - an indication of the uncertainties about the amount Not applicable or timing of those outflows; and - the amount of any expected reimbursement, stating the amount of any asset that has been recognised for Not applicable that expected reimbursement.

21.2 Movements in recognised provisions and funding commitment during the period

This year Last year £ £ Balance at the start of the reporting period - - Amounts added in current period - - Amounts charged against the provision in the current period - - Unused amounts reversed during the period - - Balance at the end of the reporting period - - 21.3 For any funding commitment that is not recognised as a liability or provision, provide details of commitment made, the time frame of that commitment, any performance-related conditions Not applicable and details of how the commitment will be funded (with contracts for capital expenditure separately identified). 21.4 Where unrestricted funds have been designated to a fund commitment, please disclose the nature of Not applicable

21.4 Where unrestricted funds have been designated to a fund commitment, please disclose the nature of any amounts designated and the likely timing of that expenditure.

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Section C Notes to the accounts (cont)

Note 22 Other disclosures for debtors, creditors and other basic financial instruments

22.1 Please provide information about the significance of financial instruments (eg. debtors, creditors, investments etc) to the charity's financial position or performance, for example, the terms and conditions of loans or the use of hedging to manage financial risk.

22.2 If the charity has provided financial assets as a form of security, the carrying amount of the financial assets pledged as security and the terms and conitions related to its pledge should be given here.

DEBTORS: The Prepayments figure relates to a carry forward of a voucher. CREDITORS: The Accruals and Deferred Income figure is due to (1) pre-sales for the Precept Bible School where income is deferred to next Financial Year and; (2) bills due to be paid which hadn't been received by the end of the Financial Year. Not applicable

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Section C Notes to the accounts (cont)

Note 23 Contingent liabilities and contingent assets

23.1 Contingent liabilities

Where the charity has contingent liabililities, please complete the following section unless the possibility of their existence is remote.

of their existence is remote.
Description of item including its legal nature. Please describe any security provided in connection to the liability.	Estimate of financial effect
Not applicable

23.2 Contingent assets

Where the charity has contingent assets, please complete the following section when their existence is probable

23.2 Contingent assets Where the charity has contingent assets, please complete the following section when their existence is probable	23.2 Contingent assets Where the charity has contingent assets, please complete the following section when their existence is probable
Description of item Estimate of financial effect
Not applicable



Explain any uncertainties relating to the amount or timing of settlement; and the possibilty of any reimbursement Where it is not practical to make one or more of these disclosures, please state this fact Not applicable Not applicable Please provide the following information where practicable: 23.4 Other disclosures for contingent assets and/or liabilities
	Not applicable
	Not applicable

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Section C Notes to the accounts (cont)

Note 24 Cash at bank and in hand

Note 24 Cash at bank and in hand
Other Cash at bank and on hand Total Short term cash investments (less than 3 months maturity date) Short term deposits	This year £	Last year £
	-	-
	-	-
	55,075	47,316
	-	-
	55,075	47,316

CC17a (Excel)

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Section C Notes to the accounts (cont)

Note 25 Fair value of assets and liabilities

25.1 Please provide details of the charity's exposure to credit risk (the risk of incurring a loss due to a debtor not paying what is owed) , liquidity risk (the risk of not being able to meet short term financial demands) and market risk (the risk that the value of an investment will fall due to changes in the market) arising from financial instruments to which the charity is exposed at the end of the reporting period and explain how the charity manages those risks.

Exposure is very low. Most people pay (e.g. for resources) at point of sale. Credit is extended to only a few customers who are well known to the Ministry.

Liquidity risk is low and the Charity meets its target for maintaining 3 months-worth of operating resources. If there was a liquidity problem, Precept International may well step in to help out.

There is no market risk.

25.2 Please give details of the amount of change in the fair value of basic financial instruments (debtors, creditors, investments (see section 11, FRS 102 SORP)) measured at fair value through the SoFA that is attributable to changes in credit risk.

None

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Section C Notes to the accounts (cont)

Note 26 Events after the end of the reporting period

Please complete this note where events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.

Please provide details of the nature of the event Provide an estimate of the financial effect of the event or a statement that such an estimate cannot be made

Not applicable Not applicable

CC17a (Excel)

07/02/2022

Section C Notes to the accounts

Note 27 Charity funds

27.1 Details of material funds held and movements during the CURRENT reporting period Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the Balance Sheet.

* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

Fund names	Type PE, EE R or UR *	Purpose and Restrictions	Fund balances brought forward £	Income £	Expenditure £	Transfers £	Gains and losses £	Fund balances carried forward £
			-	-	-	-	-	-
Reserves	U	Normal Ministry activities (unrestricted)	67,425	5,329	-	-	-	72,754

Total Funds			67,425	5,329	-	-	-	72,754

CC17a (Excel)

07/02/2022

Section C Notes to the accounts

Note 27 Charity funds (cont)

27.2 Details of material funds held and movements during the PREVIOUS reporting period

Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the Balance Sheet.

* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

Fund names	Type PE, EE R or UR *	Purpose and Restrictions	Fund balances brought forward £	Income £	Expenditure £	Transfers £	Gains and losses £	Fund balances carried forward £
New IT System / Office Machinery	R	Funds specifically raised for the new IT system	-	-	-	-	-	-
Reserves	U	Normal Ministry activities (unrestricted)	50,146	17,279	-	-	-	67,425

Total Funds			50,146	17,279	-	-	-	67,425

CC17a (Excel)

07/02/2022

Section C Notes to the accounts (cont)

Note 27 Charity funds (cont)

27.3 Transfers between funds

	Reason for transfer and where endowment is converted to income, legal power for its conversion	Amount
Between unrestricted and restricted funds	None
Between endowment and restricted funds	None
Between endowment and unrestricted funds	None
27.4 Designated funds
Planned use	Purpose of the designation	Amount
Not applicable

CC17a (Excel)

07/02/2022

Section C Notes to the accounts (cont)

Note 28 Transactions with trustees and related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.

28.1 Trustee remuneration and benefits

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

TRUE

In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.

Name of Trustee	Amounts paid or benefit value	Amounts paid or benefit value	Amounts paid or benefit value	Amounts paid or benefit value	Amounts paid or benefit value
	This year				Last year
	Remuneration	Pension contribution	Redundancy (including loss of office)/ex ~~gratia~~	Other	TOTAL
	£	£	£	£	£
None

*Please give details of why remuneration or other* *employment benefits were paid.* *Where an ex gratia payment has been made to a trustee,* *provide an explanation of the nature of the payment.*
	Not applicable
	Not applicable

28.2 Trustees' expenses

If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".

No trustee expenses have been incurred (True or False)			FALSE

Type of Expenses Reimbursed		This year	Last year
		£	£
Travel		0	0
Subsistence		0	111
Accommodation		0	0
Other (please specify):
	TOTAL	-	111
Please provide the number of trustees reimbursed for expenses or who had expenses paid by the charity
	None

28.3 Transaction(s) with related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.

There have been no related party transactions in the reporting period (True or False)	There have been no related party transactions in the reporting period (True or False)	There have been no related party transactions in the reporting period (True or False)	There have been no related party transactions in the reporting period (True or False)	There have been no related party transactions in the reporting period (True or False)	There have been no related party transactions in the reporting period (True or False)	TRUE

Name of the Trustee or related party	Relationship to charity	Description of the transaction(s)	Amount	Balance at period end	Provision for bad debts at period end	Amounts written off during reporting period
			£	£	£	£

In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.[Not applicable]

For any related party, please provide details of any guarantees given or received.

Not applicable

CC17a (Excel)

07/02/2022

Section C Notes to the accounts (cont)

Note 29 Additional Disclosures

The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.

Mr Nigel Watts is the Chair of Trustees for Precept UK (PUK) and is a voluntary PUK National Director.

During the Financial Year 1 Dec 2020 to 30 Nov 2021 (FY20/21), Mr Nigel Watts was also acting on behalf of Precept International (PMI) based in Chattanooga Tennessee USA and he received remuneration from them which was not part of PUK funding (PMI is a separate entity under American Law). Under his remit, he has responsibility and oversight for the Precept Ireland and Precept Scotland offices on behalf of Precept International (PMI).

As part of his duties Mr Nigel Watts was allocated a Budget by PMI in the furtherance of PMI's Vision and Objectives (which are also shared with PUK). Expenditure on behalf of Mr Watts' various activities was paid for by PUK and held on the Balance Sheet as a DEBTOR. Full refunds of all costs incurred were made quarterly by PMI and were supported by clear audit trails of costs incurred. At the end of this Financial Year, PMI had refunded back more than was required, so this surplus amount is transferred to next Financial Year on the Balance Sheet (the amount is not material to the Accounts).

CC17a (Excel)

07/02/2022

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of PRECEPT MINISTRIES UK On accounts for the year ended 30 NOVEMBER 2021 Charity no (if any} 1072938 Set out on pages 1T041 I report to the trustees on my examination of the accounts of the above charity I'the Trust"} for the year ended 3011112021. Responsibilities and basis of report As the Gharity'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 examinatian 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 145151{b) of the Act. Independent I have completed my examination. I confirm that no rnaterial matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. the accounling 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 conceming the form and content of accounts sel 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 matter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Signed: Date: 30 MARCH 2022 Name: ERICA PARKER Relevant professional qualificationlsl or body (if any}: FCCA Address: CLIFFORD FRY & CO ST MARY'S HOUSE NETHERHAMPTON, SALISBURY. SP2 8PU

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