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2023-12-31-accounts

For the 9 months ended 31st December 2023

24-7 PRAYER | Charity Registration No. 1091413 Company Registration No. 04176643 (England and Wales) 2023

24-7 Prayer Trustees’ Report And Financial Statements

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Contents of the Report and Financial Statements

For the 9 months ended 31st December 2023

Contents of the Report and
Financial Statements
For the 9 months ended 31st December 2023
**Report of the Trustees ** 3
A Letter from the Chair of the Board of Trustees 4
A Letter from the CEO 5
Our Vision 6
Principal Activities 6
Review of the period’s activities 7
Prioritising Prayer 8
The Year at a Glance 11
Mobilising Mission and Justice 12
Training and Developing Leaders and Planting Missional Communities 14
The ‘DNA’ of the Charity and the Movement 16
24-7 Prayer Values 17
Operational Support 18
Factors Afecting Our Achievements 18
**Get Involved ** 19
**Financial Statements ** 21
Financial Review 22
Financial Position 22
Reserves 22
Structure, Governance and Management 23
Major Risks 24
Statement of Trustees’ Responsibilities 25
Independent Auditors’ Report to the Trustees of 24-7 Prayer 26
Statement of Financial Activities 30
Balance Sheet 31
Statement of Cash Flows 32
Notes to the Financial Statements 33
1) General information 33
2) Accounting policies 33
3) Donations and Similar Income 35
4) Income from Charitable Activities 35
5) Expenditure – Raising Funds 36
6) Expenditure - Charitable Activities 36
7) Employee costs 37
8) Investments 37
9) Analysis of Movement of Fixed Assets 38
10) Stocks 38
11) Debtors 38
12) Creditors: amounts falling due within one year 39
13) Deferred Income 39
14) Operating Lease Commitments 39
15) Funds Movement 45
16) Analysis of net assets between funds 43
17) Related Party Transactions
18) Reconciliation of net income / (expenditure) to net cash fow from operating activities
19) Comparative Statement of Financial Activities		 43
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24-7 Prayer Trustees’ Report And Financial Statements

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Charity Information

For the 9 months ended 31st December 2023

Trustees

Executive Team

E Alberto S Bower P Cheong C Douglas (Chair) M Frey P Greig C Kuchanny (Resigned 18/03/2024) S Lau (Appointed 05/03/2024) L Nyathi (Deputy Chair) B Russell (Appointed 05/03/2024)

A Eagleson (CEO) J Callender (until 30/11/2023) J Clifford R Ellis (until 30/11/2023) K Grafham P Greig (until 30/11/2023) S Greig (until 30/11/2023) C Harding B Heasley S Oliver (from 08/01/2024) R Piper P Ward (from 01/12/2023) J Weber (until 30/11/2023)

Registered Office

24-7 Prayer The Lighthouse 8-10 High Street Woking, Surrey GU21 6BG

Charity Number

1091413

Company Number

04176643 (England & Wales)

Working Names

24-7 Prayer also operates under the names 24-7 Academy, Lectio 365, Order of the Mustard Seed and Prayer Spaces in Schools

Company Secretary

G Micklewright (Resigned 19/03/2024) R Piper (Appointed 19/03/2024)

Auditors

Bankers

Moore Kingston Smith LLP Orbital House 20 Eastern Road Romford, Essex RM1 3PJ

Barclays Bank plc East Street Chichester, West Sussex PO19 1HT

24-7 Prayer Trustees’ Report And Financial Statements

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For the 9 months ended 31[st] December 2023

The trustees, who are also directors of the charity for the purposes of the Companies Act, present their report together with the audited financial statements, for the 9 months ended 31st December 2023. They are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

24-7 Prayer Trustees’ Report And Financial Statements

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A Letter from the Chair of the Board of Trustees

istory tells us that there have been many periods of national, international and indeed global upheaval. In our own lifetime we are seeing massive H societal shifts in technology, speed of communication, and the growing influence of wealth and big business on government decision-making. More recently we are appalled by armed strife across the globe, all with the backdrop of the Covid-19 pandemic and its notable impact on the mental health of young people around the world.

There is a strong pull to be drawn into the global press’s narrative of despair. But we are encouraged “not to be conformed to the patterns of this world but transformed by the renewal of our minds…” (Romans 12:2). 24-7 Prayer, along with many other Christian movements and organisations, continues to strive to be faithful to our calling and focus, and we do so in the context of these real issues facing our world today; alert, sensitive and responsive to them but not shaped or changed by them.

Indeed, the mission of 24-7 Prayer continues not to be changed by the world but to change the world in which we live. As I read the details of the activities of the charity in these accounts, I am encouraged to see the ongoing creativity, energy and unabated commitment and belief that prayer in all its many forms can change the world.

The reports in these accounts demonstrate the increasing international hunger for prayer resources, which in turn has led to the 24-7 Prayer movement being invited to support, resource, and encourage prayer lives in new nations and cultures. Considerable work is ongoing in the areas of translation and the cultural adjustment of our resources to best respond to these requests.

In 2024 we look ahead to the transition between CEOs with enormous gratitude for Adrian Eagleson’s exceptional leadership during his time in that role. Adrian has fulfilled his mandate with grace, skill and a firm hand, and we are incredibly grateful to him. As I write, the Board is in the midst of the recruitment process for his successor. We also say goodbye and sincere thanks to Chris Kuchanny, who steps down after many years of diligent and faithful service as a Trustee. The Board has been bolstered by the addition of Selena Lau with her legal training, and Brian Russell who brings his considerable expertise and international input to the Board.

I remain humbly full of hope and expectation for the next 12 months in the life of 24-7 Prayer internationally.

Charles Douglas

24-7 Prayer Trustees’ Report And Financial Statements

A Letter from the CEO

vividly remember my first 24-7 Prayer Room in Belfast, Northern Ireland: the 2am slot with the church youth group accompanied by loud worship music, I scribbled prayers on the walls and bold, expectant prayers for friends who didn’t know Jesus.

Fast forward 24 years, and I can’t believe how that first prayer room experience would lead me into this position. This movement has caught my heart for three reasons.

Firstly, the boldness of its vision; to revive the church and rewire the culture. Secondly, the simplicity of the model; non-stop night and day prayer that propels us into engaging with mission and justice. Thirdly, the commitment to developing high integrity relationships with friends across different church backgrounds, cultures and contexts.

In October 2022, at the request of the board, I stepped into the 24-7 Prayer CEO role on an interim basis following a difficult season of leadership change. My focus since then has been on reviewing and enhancing the health of our culture across the movement, strengthening our structures, developing our five-year strategic outlook and ensuring we have talented leaders in key roles. You will see from this report that we have made significant progress against our 5 strategic priorities for 2023, which are:

ç A focus on strengthening our structures and expanding into key nations

I’m delighted that this time of internal development has been accompanied by external growth and expansion. In the period covered by this report, we’ve recorded a 22.6% increase in registered prayer rooms compared to last year. We’ve launched 24-7 Prayer National Teams in four new nations and seen the Lectio 365 app reach more than 250,000 users every month.

In the midst of uncertain times, God is calling his people to engage deeply in prayer – and the church is responding. Over the past year, we’ve seen a hunger for prayer rising around the world. As you read through this report, I pray that you’ll be encouraged by the stories of how Jesus is meeting with people in living rooms, classrooms, and prayer rooms all over the globe. It’s a privilege to watch it happen.

Blessings,

Adrian Eagleson

24-7 Prayer Trustees’ Report And Financial Statements

24-7 Prayer is an international, interdenominational prayer movement with a vision to revive the church and rewire the culture through non-stop night and day prayer.

Principal Activities

The 24-7 Prayer movement started in 1999 when a bunch of people on the south coast of England joined together with a united passion to see God move. The first 24-7 Prayer Room – an empty room in a renovated warehouse – was sparked by a simple challenge:

“What would happen if we prayed night and day for a whole month?”

As people flocked to the first 24-7 Prayer Room, others decided to try the idea for themselves. Weeks of prayer turned into years of prayer, and now, a quarter of a century later, thousands of people all over the world have taken part in 24-7 Prayer in their churches and communities.

For 25 years, our vision has been Jesus. Today, we are still committed to reviving the Church and rewiring the culture through non-stop prayer, mission and justice. We do this by:

We also run regional and global events, with thousands gathering throughout the year to be built up through teaching, worship and prayer before being sent out to serve in their individual contexts.

24-7 Prayer Rooms are a proven model that can work in almost any context and they continue to spring up in all kinds of unlikely places. Countless people meet God in a new way, encounter prayer as a life-changing experience and find a new focus on mission and justice after spending time in a 24-7 Prayer Room.

In planning our activities for the year, the Trustees kept in mind the Charity Commission’s guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion.

24-7 Prayer welcomes all people to take part in the wider 24-7 Prayer network, regardless of personal background, faith, gender or personal circumstances, and we believe this philosophy of openness to all enriches everyone through the sharing of skills, aptitudes and life experiences.

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2023

At a time of escalating crises in our world, we’re passionate about our vision because we believe that it’s necessary to revive the church of Jesus Christ, and this begins by mobilising his people to pray. Everything we do begins and ends in the presence | of God (“prayer”), and seeks to outwork his Kingdom by making a measurable difference among those suffering disadvantage and oppression (“justice”) and those who feel far from Jesus (“mission”).

During the financial period April – December 2023, 24-7 Prayer continued to fulfil its basic objectives of catalysing, connecting and resourcing prayer, mobilising mission and justice initiatives, inspiring and enabling Prayer Spaces in Schools, planting missional communities, and training leaders.

We continue to be supported by a wide range of individual donors, churches and trusts, and these have all helped to significantly develop 24-7 Prayer this period. The impact of the charity is enhanced by volunteers who desire to further our work.

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Prioritising Prayer

Our Achievements

24-7 Prayer is equipping thousands of people to pray, and to live out their prayers in ways that change the world.

In-Person Prayer

We have continued to support in-person prayer through promoting, supporting, and tracking 24-7 Prayer Rooms around the world. We tracked 1224 prayer rooms between April and December 2023, which was a 22.6% increase on April – December 2022. These prayer rooms took place in 51 different nations. The team appointed a new administrator to oversee the admin of International Prayer Rooms, and the prayer room booking back system was redeveloped to sustain the growth with improved functionality.

Prayer Spaces in Schools tracked and supported 717 prayer spaces in schools in 19 nations, including the very first ones in Czech, South Korea and in a public school in the USA.

We have also catalysed in-person prayer through a variety of events. The festival Wildfires took place in May in the UK, and hosted more than 3000 people onsite, engaging in prayer, worship, teaching and training. Over the summer holidays in the UK, 24-7 Prayer Youth delivered teaching on prayer and in-person ministry to over 5000 young

people over a series of events. The European Gathering ‘23 was hosted in Vienna with over 800 people attending in-person and hundreds watching online in Spanish and English, joining in prayer together and being trained and equipped. 24-7 Prayer USA and 24-7 Prayer Australia also held successful national Gatherings. To end the year, the first in-person Lectio 365 retreat at Waverley Abbey ran during Advent 2023.

Why do we need day and night prayer?

This is the moment we were born for! The need for prayer has never been greater. The “ world’s in a mess and the church has the answer. But the church is also in a mess, which means that the single most important thing anyone can do is play their part in reviving the church. How does this happen? Well, according to the Bible and according to church history revival begins in united, persevering prayer. This is why God has raised us up: to call the church of Jesus Christ back to Jesus Christ. The task is urgent, and it’s working! ”

Pete Greig | Founder of 24-7 Prayer

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Digital Resources

In November, we released new 24-7 Prayer Room resources including a revised “How to Run a 24-7 Prayer Room” resource and a new “Why 24-7 Prayer” resource to equip communities all over the world with the inspirational and practical information needed to try running 24-7 Prayer rooms. We have continued to develop prayer room resources, including a “Prayer Room Starter Pack”, and prayer station packs for Advent and Holy Week.

Prayer Spaces in Schools continues to support prayer spaces around the world with an evergrowing free library of prayer stations and resources, and these resources received more than 40,000 downloads in 2023.

The GB team created 53 new prayer activities, and many more were created in other nations. English Prayer Spaces in Schools prayer activities have been translated into other languages including Arabic, Russian, Spanish, Albanian, Czech, German, Welsh and Maltese.

We also developed two new youth resources – one encouraging young people to use prayer rooms and the other on mental health and prayer.

In November, we launched the 24-7 Prayer Podcast, a 10-part series with International Prayer Director Brian Heasley. The first five episodes were released in November and December 2023 and the second half of the series will launch weekly in 2024.

24-7 Prayer Trustees’ Report And Financial Statements

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Apps

We grew the audience of Lectio 365 to an average of 270,000 monthly active users by the end of 2023. In addition to Lectio 365 in Spanish, we launched it in a third language within a closed context nation. Behind the scenes, we migrated the Lectio 365 device code to a new framework, exiting a legacy technology and positioning ourselves for future development of the app.

Running a paid ad campaign to grow our Lectio for Families users from May to June led to 7,900 new app users and 14,000 monthly users during the campaign period. We also invested into the development of the Inner Room app, beginning work to introduce more resources to the app and to create a prayer alert function.

One Lectio 365 user wrote:

“Been loving this app for morning & evening devotions! It’s brought a fresh renewal in God’s word and beautiful connection with the Father, without a feeling of pressure if I miss a session. Sometimes I listen, sometimes I read. It’s really peaceful and comforting. 💛 It’s been hard for me to engage scripture the last several years, and this has felt like a wind of refreshing ripples across waters of my heart that have felt stagnant.”

Global Presence

Our global 24-7 Prayer presence has expanded as we launched 24-7 Prayer national offices in in Austria, Australia, France , and New Zealand . The team in Cusco, Peru , have begun work on a

permanent prayer centre there. Prayer Spaces in Schools has recruited new national coordinators in France, South Africa and Switzerland , as well as a new comms coordinator.

24-7 Prayer Trustees’ Report And Financial Statements

Looking Forward: 2024

In 2024, our charity’s support and catalysing of prayer will be further expanded and strengthened in a variety of ways:

New resources and expansions to existing resources, including:

A celebration of the charity’s 25th birthday:

2024 is a significant year as we celebrate our 25th birthday on 5 September. This is a key moment for engagement and growth, and a real opportunity to extend a fresh invitation to non-stop prayer to our international audiences. We will plan to:

In-person prayer and events, including:

Our global 24-7 Prayer presence will be expanded by:

24-7 Prayer Trustees’ Report And Financial Statements

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new 24-7 Prayer National Teams

270,000 40,000+ monthly Lectio 365 prayer resource users downloads

60+

free prayer resources created

179,250 pupils in a prayer space

1,224 prayer rooms

51 579 members of the Order of the Mustard Seed

nations running prayer rooms

93 communities in the Community Networks

204,468 3 3 session streams languages Gathering on online running on conferences courses Lectio 365 on 3 continents

24-7 Prayer Trustees’ Report And Financial Statements 12

Mobilising Mission and Justice

24-7 Prayer Rooms are equipping and encouraging people to take God’s love to the poor and lost, to lead people to Christ, and to catalyse prayer and community all over the world.

Our Achievements

Bringing the Gospel to Young People

24-7 Prayer has continued to create opportunities for young people to hear the gospel, experience the presence of God, learn how to pray, and be empowered in mission. Wildfires Youth 2023 saw a 30% increase in attendance from the year before, with more than 90 recorded decisions to follow Jesus and hundreds more young people committing to share Jesus with their friends. The network of youth prayer nights has grown from last year to include 10 different cities, and we held two “Prayer and Mission” weekend events where young people were activated in prayer on the first evening and then encouraged to invite friends to the following evening’s mission event, seeing more than 50 commitments to follow Jesus.

In 2023, Prayer Spaces in Schools created the opportunity for approximately 179,250 pupils to learn about God and experience prayer – many for the first time.

Responding to Injustice

We have continued to respond to global situations of injustice by creating resources to raise awareness and help people to pray for these issues. From April to December 2023, we created topical prayer guides on human trafficking, the refugee crisis, and the education system. In October 2023, we produced a prayer and promoted a special Lectio 365 day following the war in Israel and Gaza. This webpage received 9,000 views between Oct – Dec 2023.

Prayer Rooms Catalysing Communities

We receive many reports that after running a 24-7 Prayer Room, communities find their passion for mission and justice is renewed.

One church in Australia shared:

“I found the time passed far too quickly in the room...and many people said the same. I think next time there will be a lot of 2-hour slots booked! [...] We had seven people

24-7 Prayer Trustees’ Report And Financial Statements

baptised in the service after the Prayer Room was finished...most planned, but one extra on the day.

We have been seeing a steady stream of people coming along to church that have no previous faith background but they feel compelled to come and find out for themselves ‘if God is true’...

This had to be a work of God in their hearts - nothing else can account for a young person deciding to come into a church they have never been to before, all by themselves, and telling this same story over and over again.”

Another church wrote to us to say:

“It’s been a wonderful week. Every slot was booked in advance with scores of hours filled with kids & young adults aged between 16-26.... The following day we ran one of our community events (Coffee, Cars & Bikes). It brings the community together for good coffee and muscle cars. We had so many wonderful conversations. 90% are unchurched & we had people asking for prayer and wanting to know about Jesus. We’ve never had this before. No question that 168 hours of prayer softened their hearts in advance.”

Looking Forward: 2024

In 2024, we aim to expand our efforts to mobilise mission and justice by:

I’m part of a generation who wants the truth. We want what’s real. And we’re looking for it everywhere.... “

24-7 Prayer Youth had a youth prayer night in Birmingham recently.... At the event, I was invited on A stage, and I started sharing the gospel, knowing that I haven’t prepared anything and just letting the Spirit talk through me. As I was preaching the gospel, my heart was breaking for the people who didn’t believe in Jesus. (I may or may not have got a little emotional…) I shared the gospel, saying there is hope in Jesus and eternal life with Him and that He loves us all. I asked the young people if they wanted to give their lives to Jesus… 17 young people gave their life to Jesus. ”

24-7 Prayer Trustees’ Report And Financial Statements

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Training and Developing Leaders and Planting Missional Communities

At the heart of the 24-7 movement is an expanding network of gifted and committed leaders, and we recognise the urgent need for strategic investment into their training and development at every level, both as individuals and as purpose-driven communities.

Our Achievements

Resourcing and Training leaders

Pete Portal published his book How to be (Un)Successful in 2023, and we launched the accompanying small group video course How to be Unsuccessful in October. Our ad campaign for this resource reached over 1.5 million impressions.

Overall, all of our courses received a combined total of 204,468 session streams between April and December 2023, providing teaching and training on a variety of prayer-related discipleship topics.

We also trained leaders to facilitate prayer through a series of webinars educating on “The What, the Why, and the Wow of 24-7 Prayer Rooms”, as well as delivering Prayer Spaces in Schools

training events in seven nations for hundreds of church leaders, children’s and youth workers, and school staff.

Community Networks

We’ve strengthened our long-standing network of missional communities with a variety of improvements to infrastructure, communication, and opportunities to connect. This includes a monthly newsletter and quarterly update, new “Communities Catch-up” calls, a season of learning through “Community Forums”, and new meeting rhythms for Community Networks teams to create overlap and cohesion. The network has transitioned into a “network of networks” model to allow for greater growth and regional variation.

The network of churches, communities and Houses of Prayer has grown to 93.

24-7 Prayer Trustees’ Report And Financial Statements

The Order of the Mustard Seed (OMS) hee

The Order of the Mustard Seed is an ecumenical, lay-led, dispersed community inspired by the original Moravian OMS of the 18th Century and committed to prayer, mission and justice. At the end of 2023, it had 579 members and 201 candidates in preparation to join. A recent piece of research work has shown that the order continues to grow at a rate of 30% annually.

We’ve continued developing Waverley Abbey as a Motherhouse for the OMS and a home for the 24-7 Prayer movement, hosting OMS retreats and Vow Ceremonies, and creating a Centre for Spiritual Formation to develop ongoing spiritual formation resources for the OMS and the larger movement.

Looking Forward: 2024

We will continue to develop and train leaders and support missional communities in these ways:

Creating resources, including:

Strengthening our support structures by:

Events to connect, encourage, and train:

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The ‘DNA’ of the Charity and the Movement

Over 2023 and as we’ve looked forward into 2024, we’ve been engaging in some big picture conversations about who we are and how we define ourselves, both as a charity and as a wider prayer movement. The approach of our 25th birthday in 2024 has catalysed and enriched some of these conversations as we begin to look back on 25 years of non-stop prayer. We have strengthened and clarified our ‘DNA’ in these ways:

24-7 Prayer Storytelling OO

The stories we tell about our work are a huge part of who we are, and maintaining best practice around this is important for our integrity as well as for our opportunities to fundraise, network, and grow. In 2024, we plan to develop our storytelling and story gathering strategy as an international movement by:

2023 Roundtable Gathering OO

24-7 Prayer has always maintained and prioritised a strong relational focus, and this has been especially true in a leadership context. For many

years, key leaders of the 24-7 Prayer movement have met annually in a gathering called the Roundtable, making space to build and develop relationships, pray and worship together and invest in listening to God’s voice, paying attention to the spiritual direction we need to travel in as a global movement.

This year we intentionally redeveloped this gathering, inviting a wider number of leaders from a wider number of nations so that we could hear voices from more cultural backgrounds, aligning with our priority to amplify diverse voices from the margins. With more voices in our strategic discussions, we were able to gain a deeper understanding around how our objectives can be outworked in different contexts, and we gained valuable insights around the challenges and development areas for the international movement.

24-7 Prayer Values Ld

As part of our commitment to clarifying our communications with national and community leaders, we started and completed a process of refreshing our organisation’s values. This was a collaborative, three stage process which began with a global consultation across the international movement, was refined through the meeting of a working group representing three continents, and finalised at the international leaders’ Roundtable Gathering. The values were signed off by the 24-7 Prayer management team in September and by the trustees in December.

24-7 Prayer Trustees’ Report And Financial Statements

We pursue the presence of Jesus through prayer.

We pursue the presence of Jesus through prayer, seeking to encounter Christ’s power and transformation for ourselves and others.

We are missional.

We are missional, ‘breathing in’ Christ as we pray, and ‘breathing out’ Christ as we engage with the world around us.

We are passionate about fighting injustice.

We are passionate about fighting injustice, taking action to bring transformation and reconciliation to our hurting and broken world.

We are relational.

We are Spirit-led.

We are Spirit-led, obeying the disruptive guidance of the Holy Spirit and trusting in God’s provision.

We are relational, growing and sustaining the movement through the building of authentic, loving relationships.

We celebrate diversity.

We celebrate diversity whilst committing to equality and prioritising unity across the nations and cultures we serve in.

We empower one another.

We are creative and innovative.

We are creative and innovative, responsive to the world around us and the Spirit in us.

We empower one another by making space for honest conversations and paying attention to different views, voices and perspectives.

We are generous.

We are generous, giving our time and resources freely.

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Operational Support

Staff assist each of the main areas of 24-7 Prayer to deliver their objectives.

From April to December 2023, 24-7 Prayer’s growth was reflected in the five new roles that were created and filled. Our operational capacity was increased by three new administrationfocused roles: an admin officer supporting Prayer Rooms, an events officer, and an OMS operations manager. We also created a fundraising department from scratch, hiring a Head of Fundraising and Fundraising Officer in the summer.

As well as strengthening our infrastructure through strategic hires, we also started a review of our IT systems. This included a CRM discovery phase to understand our current requirements and the appointment of an external IT support provider to create capacity and increase technical expertise.

Following a review of the pay of some similar charities, in December 2023 the Board of Trustees approved a pay rise for all staff to close the pay gap. This resulted in all staff getting an increase at least equal to inflation.

Factors affecting our achievements

The complete review of our policies (continued from the previous financial year) has been slightly delayed by the resignation of our COO who was leading the project. Our new Head of Operations has been hired and started her role, resuming this piece of work, in January 2024.

In 2023, our international presence has grown to 20 different national teams. Initially each of these team leaders reported to the International Prayer Director, but this structure proved to be a bottleneck which did not allow for development of existing teams with the pioneering of new teams. We therefore decided on a leadership restructure

which released the International Prayer Director to recruit and develop new teams and created an International Director of Nation Development to invest in the growth of existing teams.

The partnership between 24-7 Prayer and Waverley Abbey Trust has continued this year, with restructuring at Waverley Abbey College taking precedence over starting new initiatives. While the Waverley Abbey Community and the OMS have grown and expanded their activity at Waverley Abbey Trust, the growth of a centre for education and enterprise will be slower than initially anticipated.

24-7 Prayer Trustees’ Report And Financial Statements

There are so many ways to get involved in the 24-7 Prayer Movement!

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24-7 Prayer Trustees’ Report And Financial Statements

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Financial Statements

For the 9 months ended 31[st] December 2023

24-7 Prayer Trustees’ Report And Financial Statements

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Financial Review

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s governing document, applicable law, and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Financial Position

The statement of financial activities shows overall net incoming resources of £178,094 (Apr 22 – Mar 23 £219,928).

24-7 Prayer doesn’t undertake public fund raising or employ third parties to raise funds on its behalf.

24-7 Prayer received funds from events, foundations, trusts, charities and individuals during the year. Gifts in kind to the value of £28,004 were received during the period (Apr 22 – Mar 23: £23,491).

24-7 Prayer also received several significant restricted donations to voluntary income, with restricted income totalling £606,583 (Apr 22 – Mar 23: £1,735,476). These donations are assisting in the furtherance of 24-7 Prayer’s work in developing the Wildfires Festival, supporting the creation of a modern day monastery at Waverley Abbey, the development of the Inner Room and Lectio 365 prayer apps, training, youth initiatives, Prayer Spaces in School’s core running costs, and international development and missions. The charity also received significant unrestricted donations, as part of a total unrestricted income of £1,328,701 (Apr 22 – Mar 23: £1,557,428). These significant donations, totalling £250,490 (Apr 22 Mar 23: £230,000), are being targeted towards all three key areas of 24-7 Prayer’s charitable activity, and general running costs.

Net incoming resources on unrestricted funds amounted to £265,661 (Apr 22 – Mar 23: £198,360), with total unrestricted funds standing at £1,030,391 (Apr 22 – Mar 23: £910,542).

Reserves

The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be 3 months of the minimum level of resources expended, which equates to approximately £500,000 in general funds. At this level, the trustees feel that they would be able to manage the affairs of the charity in an orderly manner, in the event of a significant drop in funding. At present these reserves amount to £11,754 below target. 24-7 Prayer’s reserves at the year end comprise:

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Fund £
Restricted funds 233,715
Designated funds 538,808
3,337
Funds invested in fixed assets
Free reserves 488,246
Total 1,264,106
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Designated funds relate to the charity’s work on training and development, training courses and conferences, supporting the creation of a modern day monastery at Waverley Abbey, development of the Lectio 365 prayer apps, Prayer Spaces in School’s core running costs and supporting the Order of the Mustard Seed. These funds are planned to be expended during the coming financial year.

24-7 Prayer Trustees’ Report And Financial Statements

Structure, governance and management

Governing Document

The charity is a company limited by guarantee and was formed on 9th March 2001 and received charitable status in March 2002. It is governed by its Memorandum and Articles of Association.

Trustees

The Trustees, who are also directors for the purpose of company law, who served during the year, are named on page 2. New trustees are appointed by the existing trustees in accordance with the charity’s articles of association. They are inducted through meetings with the Chairman and other trustees, covering the history and current activities of the charity, governance and management, and the charity’s financial accounts and reporting procedures. Trustees are recruited for various skills they bring to the organisation.

All of the Trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

The directors consider the board of directors, who are the charity’s trustees, and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All directors in acting as directors of 24-7 Prayer gave of their time freely and received no remuneration. All payments to directors for services or other expenses are listed in the notes to the accounts.

Organisational Structure

Overall control of the charity rests with the trustees, who meet at least three times a year, and delegate the day to day running of the activities of the charity to an executive team. The pay of senior team members is normally reviewed annually. In view of the nature of the charity, the directors benchmark against pay levels in other charities of a similar size.

24-7 Prayer is both a movement and an organisation.

On a movemental level, expressions of 24-7 Prayer continue to emerge all over the world, from prayer caravans in the Czech Republic and prayer mountains in Peru, to nations like the USA who are currently running a year of non-stop prayer. The organic nature of who we are is something we never want to lose; we are committed to following the Holy Spirit at work, and facilitating moments of non-stop prayer wherever they occur.

To help serve the movement we have developed national teams who own strategy locally and are encouraged to establish robust governance models, including setting up a local charity and establishing their own local board. The relationship between each nation and the international team, led by the CEO, is managed through a partnership agreement. We currently have 20 national teams, with a vision to multiply regionally over the next number of years.

The CEO leads the International charity which is governed by UK charity law and exists for the advancement of the Christian faith in the United Kingdom and overseas. There are 34 employees based in the International office in Woking, UK. This International Staff team has a focus on supporting the needs of the international movement and currently has 6 employees with a specific focus on developing 24-7 Prayer in GB, with a particular emphasis on England and Wales.

24-7 Prayer Trustees’ Report And Financial Statements

Major Risks

The Board of Trustees has responsibility for making sure there are adequate and effective risk management protocols and systems of internal controls in place to manage 24-7 Prayer’s major risks and to achieve our strategic objectives. To strengthen this process, in 2023 a new Board sub-committee, supported by the CEO and Head of Operations, was created to review and help manage risk and support the audit process.

----- Start of picture text -----
Major risks How these risks are managed
Financial sustainability 1) During the reporting period we created a fundraising
ç Reduction in income due to cost of
team to specifically focus on developing and
living crisis / inflation diversifying our income
ç Reduction in income due to
2) Regular communication with supporters and beneficiaries
reputational issues 3) Monthly financial reporting including reforecasting
ç Other crises leading to unplanned financial year outcome. We have a process for
out of budget spend
for reduction in income / increase in
expenditure 4) Budget signed off by the management team
and the Board
These risks reduce our ability to 5) All business cases and objectives have a budget
fulfil our charitable aims and to agreed at sign off
invest appropriately to achieve our 6) Trustees are part of the Remuneration and Finance
strategic objectives. Committee which meets at least quarterly
7) Holding additional level of free reserves in this uncertain
financial environment
Events 1) Event budget is set based on existing and predicted
ç Ticket sales lower than expected ticket sales
ç Large shortfall in income/expenditure 2) Budget reducing decisions can be made until relatively
close to the event
3) Opportunity for an offering to cover shortfall
Information security and 1) Commissioned external IT support to improve technical
data protection skills and best practice
Significant data protection or security 2) All data is backed up in the cloud
3) Finance department has process in place which include
failure, including cyber-attacks,
resulting in legal and contractual issues, dual authentication for confirmation of payments
4) Staff training on data protection, guidelines on not saving
reputational damage and potential fines, work to a work computer but rather using SharePoint
loss of income and costs to rectify
which can be remotely wiped. Designated GDPR role
on the staff team
Systems and technology
ç Systems fail to meet operational need
1) Ongoing review of all systems to ensure fit for purpose
ç Failure to innovate or update systems 2) All data is backed up in the cloud
ç Loss/corruption of data e.g. donor base 3) External support in place
ç Lack of technical support
Staff recruitment and retention
ç Experience or skills lost 1) Staff retention, work environment and remuneration
2) Agreed notice periods and handovers
ç Operational impact on key projects and priorities 3) Staff use shared drives to document systems,
plans and projects
ç Loss of contact base and corporate
4) Succession planning for all senior team
knowledge
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24-7 Prayer Trustees’ Report And Financial Statements

Statement of Trustees’ Responsibilities

Company Law and Charity Law require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the financial activities of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for ensuring that the company maintains an adequate system of internal control designed to provide reasonable assurance that assets are safeguarded against loss or unauthorised use and to prevent and detect fraud and other irregularities.

In so far as the Trustees are aware:

Auditors:

The auditors, Moore Kingston Smith are deemed to be reappointed under section 487(2) of the Companies Act 2006.

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

ON BEHALF OF THE BOARD:

Chairman Charles Douglas Date 18th July 2024

24-7 Prayer Trustees’ Report And Financial Statements

25

Independent Auditors’ Report to the Trustees of 24-7 Prayer

Opinion

We have audited the financial statements of 24-7 Prayer for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard Applicable in the UK and Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our unqualified opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

24-7 Prayer Trustees’ Report And Financial Statements

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the trustees’ responsibilities statement set out on page 25, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can

24-7 Prayer Trustees’ Report And Financial Statements

arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

24-7 Prayer Trustees’ Report And Financial Statements

related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.

ç Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken for no purpose other than to draw to the attention of the charitable company’s members those matters which we are required to include in an Auditor’s report addressed to them. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company’s members as a body, for our work, for this report, or for the opinions we have formed.

Orbital House 20 Eastern Road Romford Essex RM1 3PJ

Karen Wardell (Senior Statutory Auditor) For and on behalf of Moore Kingston Smith LLP Chartered Accountants

15 August 2024 Dated: …………………

24-7 Prayer Trustees’ Report And Financial Statements

Statement of Financial Activities

Including Income and Expenditure Account for the 9 months ended 31st December 2023

----- Start of picture text -----
Apr–Dec 23 Apr 22 –Mar 23
Unrestricted Restricted
Funds Funds Total Total
Notes £ £ £ £
Income from:
Donations and similar income 3 1,328,701 606,583 1,935,284 3,292,904
Charitable activities 4 133,399 436,374 569,773 462,635
Other trading activities:
ç sale of merchandise 22,203 - 22,203 22,797
Investments (Bank interest) 27,535 - 27,535 5,348
Total Income 1,511,838 1,042,957 2,554,795 3,783,684
Expenditure
Raising funds: 5
Cost of merchandise 44,747 - 44,747 44,321
Fundraising costs 93,188 - 93,188 78,514
Publicity costs 7,400 - 7,400 7,484
Charitable activities 6 1,100,842 1,130,524 2,231,366 3,433,437
Total resources expended 1,246,177 1,130,524 2,376,701 3,563,756
Net income / (expenditure) for the year 265,661 (87,567) 178,094 219,928
Gross transfers between funds (145,812) 145,812 - -
Net movement in funds 119,849 58,245 178,094 219,928
Reconciliation of funds
Total funds at 1st April 2023 910,542 175,470 1,086,012 866,084
Total funds at 31st December 2023 1,030,391 233,715 1,264,106 1,086,012
----- End of picture text -----

All amounts derive from continuing activities.

All gains and losses recognised in the period are included in the statement of financial activities. The attached notes form an integral part of these financial statements.

24-7 Prayer Trustees’ Report And Financial Statements

Balance Sheet

As at 31st December 2023

Company Registration No. 04176643 (England and Wales)

----- Start of picture text -----
|||||| |---|---|---|---|---| |31.12.23|31.03.23| |a| |Notes|£|£|£|£| |Fixed assets| |Investments|8|1|1| |Tangible assets|9|3,337|5,061| |3,338|5,062| |Current assets| |Stock|10|1,000|1,000| |Debtors|11|186,348|289,520| |Cash at bank and in hand|1,463,591|1,154,055| |1,650,939|1,444,575| |Creditors: Amounts falling due within one year|12|390,171|363,625| |Net current assets|1,260,768|1,080,950| |Total assets less current liabilities|1,264,106|1,086,012| |The funds of the charity:| |Restricted income funds:| |Restricted fund|15|233,715|175,470| |Unrestricted income funds:| |General fund|15|491,583|336,564| |Designated funds|15|538,808|573,978| |Total charity funds|1,264,106|1,086,012|

----- End of picture text -----

The company is subject to audit under the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.

The Financial statements were approved by the board on 18th July 2024.

Doe

Charles Douglas, Chairman

The attached notes form an integral part of these financial statements.

24-7 Prayer Trustees’ Report And Financial Statements

31

Statement of Cash Flows

As at 31st December 2023

----- Start of picture text -----
Apr - Dec 23 Apr 22 - Mar 23
Notes £ £ £ £
Cash flow from operating activities 18 283,800 135,064
Cash flow from investing activities
(1,799) (7,392)
Payments to acquire tangible fixed assets
Interest received 27,535 5,348
25,736 (2,044)
Net cash flow from investing activities
Net increase in cash and cash equivalents 309,536 133,020
Cash and cash equivalents at 1st April 2023 1,154,055 1,021,035
Cash and cash equivalents at 31st December 2023 1,463,591 1,154,055
1) Analysis of changes in net funds
1 April 2023 31 December 2023
Cashflows
£ £ £
Cash at bank and in hand 1,154,055 309,536 1,463,591
----- End of picture text -----

The attached notes form an integral part of these financial statements.

24-7 Prayer Trustees’ Report And Financial Statements

Notes to the Financial Statements

1) General information

24-7 Prayer is a private company, limited by guarantee, incorporated in England and Wales under the Companies Act 2006 and Charities Act 2011. The address of the registered office is provided in Reference and administrative details. Details of the charity’s operations are provided in the Report of the Trustees.

2) Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a. Basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the historical cost convention and include the results of the charity’s operations which are described in the Trustees’ Report and all of which are continuing. The financial statements are prepared under UK Generally Accepted Accounting Practice and in accordance with the Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

b. Reporting Period

The entity’s reporting period and the annual financial statements are presented for a period shorter than one year, to match the calendar year and therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

c. Going Concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and for a period of not less than twelve months from the date of approval of these financial statements. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

d. Income

Income is recognised when the charity is legally entitled to the income and the amount can be measured reliably and it is probable that the income will be received. The related tax credit on donations etc is accounted for on an accruals basis once the donation has been received. The income from ventures to generate funds is shown gross, with the associated costs included in costs of generating funds.

When donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, it is included in income of restricted funds when receivable.

Gifts and services in kind are included at their estimated open market valuation.

e. Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have

24-7 Prayer Trustees’ Report And Financial Statements

been allocated to activities on a basis consistent with use of the resources. Costs of raising funds are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the reporting accountant’s fees and costs linked to the strategic management of the charity.

f. Allocation of costs

Certain types of expenditure are incurred in providing support for activities related directly to the objects of the charity. Payroll costs are allocated on the basis of the estimated percentage of staff time related to various cost centres whilst centralised overhead costs have been allocated to the various cost centres on the basis of staff employed in each area.

g. Restricted and designated funds

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds subject to specific conditions imposed by donors as to how they may be used. The purposes and uses of the restricted funds are set out in note 15 to the accounts.

h. Stock

Stock is stated at the lower of cost and net realisable value.

i. Fixed Assets

Assets costing more than £1,000 are recorded at cost (£500 from previous financial years). Depreciation is provided at 50% on a straight-line basis to write off the cost less estimated residual value of each asset over its expected useful life.

j. Pensions

The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

k. Foreign currency

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

l. Operating lease commitments

Rentals payable under operating leases are charged against expenditure as incurred over the lease term.

m. Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

n. Financial assets and liabilities

The charitable company only has basic financial instruments.

24-7 Prayer Trustees’ Report And Financial Statements

o. Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the trustees are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Key sources of estimation uncertainty

Useful economic lives of tangible fixed assets.

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 9 for the carrying amount of the tangible fixed assets and note 2 for the useful economic lives for each class of asset.

3) Donations and Similar Income

----- Start of picture text -----
Apr-Dec 23 Apr 22– Mar 23
Unrestricted Restricted Unrestricted Restricted
funds funds Total funds funds Total
£ £ £ £ £ £
General Purposes 1,328,701 - 1,328,701 1,557,428 - 1,557,428
Intl. Development and Missions - - - - 33,823 33,823
Prayer Spaces in Schools - 55,410 55,410 - 11,698 11,698
Inner Room Prayer App - 882 882 - 59,370 59,370
- 271,583 271,583 - 278,849 278,849
Wildfires Festival
365 Appeal - 268,042 268,042 - 166,865 166,865
24-7 Ireland - - - - 10,000 10,000
Mother House - 2,773 2,773 - 1,161,818 1,161,818
Operations - 2,275 2,275 - 3,270 3,270
Youth - 5,618 5,618 - 9,783 9,783
1,328,701 606,583 1,935,284 1,557,428 1,735,476 3,292,904
----- End of picture text -----

4) Income from Charitable Activities

----- Start of picture text -----
Apr-Dec 23 Apr 22– Mar 23
Unrestricted Restricted Unrestricted Restricted
funds funds Total funds funds Total
£ £ £ £ £ £
Training courses and conferences 133,399 436,374 569,773 162,462 300,173 462,635
----- End of picture text -----

24-7 Prayer Trustees’ Report And Financial Statements

5) Expenditure – Raising Funds

----- Start of picture text -----
Apr - Dec 23 Apr 22 - Mar 23
Total Total
£ £
Fundraising Costs
Donations and Gifts 444 153
407 10
Office Costs
91,151 76,571
Staff Costs
Travel 1,186 1,780
93,188 78,514
Publicity and Communication 7,400 7,484
Merchandise Costs 44,747 44,321
----- End of picture text -----

6) Expenditure - Charitable Activities

----- Start of picture text -----
Apr - Dec 23 Apr 22 - Mar 23
Charitable Support Governance Charitable Support Governance
Activities Costs Costs Total Activities Costs Costs Total
£ £ £ £ £ £ £ £
Prioritising Prayer 916,057 91,940 6,406 1,014,403 1,289,486 110,835 5,650 1,405,971
Mobilising Mission and
488,372 89,236 6,406 584,014 871,481 107,575 5,650 984,706
Justice
Training and Developing
537,307 89,236 6,406 632,949 929,535 107,575 5,650 1,042,760
Leaders
1,941,736 270,412 19,218 2,231,366 3,090,502 325,985 16,950 3,433,437
Natural classification:
Donations and Gifts 108,237 - - 108,237 1,232,681 - - 1,232,681
578,670 214,317 - 792,987 605,999 237,681 - 843,680
Staff Costs
39,832 42,805 - 82,637 47,720 50,131 - 97,851
Office Costs
Travel Costs 92,954 6,617 - 99,571 68,050 6,272 - 74,322
Trustee Expenses - - 3,208 3,208 - - 2,055 2,055
Auditor's Remuneration - - 16,010 16,010 - - 14,895 14,895
Depreciation - 3,523 - 3,523 - 22,961 - 22,961
Premises Costs 1,085 3,150 - 4,235 6,835 4,200 - 11,035
Publishing and
246,155 - - 246,155 229,374 4,740 - 234,114
Communications
Training Courses and
845,980 - - 845,980 841,012 - - 841,012
Conferences
Website Costs 28,823 - - 28,823 58,831 - - 58,831
1,941,736 270,412 19,218 2,231,366 3,090,502 325,985 16,950 3,433,437
----- End of picture text -----

24-7 Prayer Trustees’ Report And Financial Statements

7) Employee costs

Details of payments to trustees are included in note 17.

The costs of all staff were:

----- Start of picture text -----
Apr - Dec 23 Apr 22 - Mar 23
£ £
Wages and salaries 770,171 790,172
Social security costs 71,639 74,215
Pension costs 16,608 16,898
858,418 881,285
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The number of employees whose total employee benefits (excluding employer pension costs) exceeded £60,000 in the 9 months’ reporting was:

----- Start of picture text -----
|||| |---|---|---| |Apr - Dec 23|Apr 22 - M ar 23| |Between £70,000 and £80,000|1|-|

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If annualised, one (1) (Mar-23 0) employees’ benefits were between £90k - £100k.

Pension contributions for higher paid employees totalled £1k and was relevant to one (1) (Mar-23 0) employees.

The total employee benefits including the cost of employers National Insurance of the Executive team of the Charity for Apr - Dec 23 is £424,126 (Apr 22 - Mar 23: £408,144).

The average full time equivalent number of staff employed by the charity during the year was as follows:

----- Start of picture text -----
Apr - Dec 23 Apr 22 - Mar 23
No No
Prioritising Prayer 12.9 10.3
Mobilising Mission and Justice 3.3 2.4
Training and Developing Leaders 5.0 3.9
5.3 5.3
Support Staff
26.5 21.9
Average full time equivalent number of staff employed
33.7 28.8
The average number of staff employed (Headcount)
----- End of picture text -----

8) Investments

The company owns 100% of the issued share capital of one £1 ordinary share of 24-7 Prayer.Com Ltd a UK company. The company was incorporated on 4 December 2001 and has never traded.

----- Start of picture text -----
Apr - Dec 23 Apr 22 - Mar 23
£ £
Interest in subsidiary undertaking at cost 1 1
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24-7 Prayer Trustees’ Report And Financial Statements

9) Analysis of Movement of Fixed Assets

----- Start of picture text -----
Total
Fixtures, fittings and equipment
£ £
Asset cost
Balance brought forward 35,403 35,403
Additions 1,799 1,799
Disposals (766) (766)
Balance carried forward 36,436 36,436
Depreciation
Balance brought forward 30,342 30,342
Charge for year 3,523 3,523
Disposals (766) (766)
Balance carried forward 33,099 33,099
Net book value
At 1st April 2022 5,061 5,061
At 31st December 2023 3,337 3,337
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10) Stocks

----- Start of picture text -----
Apr - Dec 23 Apr 22 - Mar 23
£ £
Merchandise goods 1,000 1,000
----- End of picture text -----

11) Debtors

----- Start of picture text -----
Apr - Dec 23 Apr 22 - Mar 23
£ £
Other debtors 79,000 38,713
Prepayments and accrued income 106,492 220,463
Trade debtors 856 30,344
186,348 289,520
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24-7 Prayer Trustees’ Report And Financial Statements

12) Creditors: amounts falling due within one year

----- Start of picture text -----
Apr - Dec 23 Apr 22 - Mar 23
£ £
Taxation and social security 26,690 24,971
Trade creditors 57,389 13,575
Other creditors 84,082 77,077
Amount owed to dormant subsidiary undertaking - unpaid share capital 1 1
Accruals and deferred income 222,009 248,001
390,171 363,625
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13) Deferred Income

Income has been released following the postponement of the Wildfires festival.

Income has been deferred from ticket sales for the Wildfires festival in the new financial year which is due to occur.

----- Start of picture text -----
At 1st April 2023 Released in the year Deferred in the year At 31st December 2023
£ £ £ £
Training Courses and Conferences - - 114,470 114,470
234,586 234,586 73,185 73,185
Wildfires festival
Total deferred income 234,586 234,586 187,655 187,655
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14) Operating Lease Commitments

At the reporting end date the charity had outstanding commitments for future minimum lease agreements under non-cancellable operating leases, which fall due as follows:

----- Start of picture text -----
Apr - Dec 23 Apr 22 - Mar 23
£ £
Due within 1 year 787 680
Between 1 to 2 years - 510
Total 787 1,190
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24-7 Prayer Trustees’ Report And Financial Statements

15) Funds Movement

Unrestricted and Designated Funds

----- Start of picture text -----
Net incoming Balances at Balances at
Incoming Outgoing / (outgoing) 31st December 31st March
resources resources resources Transfers 2023 2023
£ £ £ £ £ £
General Fund 491,826 (873,498) (381,672) 536,691 491,583 336,564
Designated Funds
1. Training and Development - - - - 774 774
2. Training Courses and Conferences 277,392 (253,284) 24,108 (20,000) 56,649 52,541
3. Mother House / Waverley 7,382 (9,366) (1,984) (2,503) 39,706 44,193
4. Prayer Spaces in Schools - - - - 2,757 2,757
5. OMS 33,539 (30,029) 3,510 - 30,534 27,024
6. Lectio 365 701,699 (70,000) 631,699 (670,000) 408,388 446,689
Total 1,020,012 (362,679) 657,333 (692,503) 538,808 573,978
Total Unrestricted Funds 1,511,838 (1,236,177) 275,661 (155,812) 1,030,391 910,542
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Designated funds are set aside for work which has not yet been allocated to specific projects, or to indicate funds set aside for a particular activity and therefore not usually available for general purposes.

Management approved £20k on 31/12/23 transfer from Training Cources & Conferences to general funds. Management also approved transfers £150k on of 01/04/23, £300k on 31/08/23 and £75k on 31/12/23, all from Lectio 365 to general funds. Transfers were also made of £100k on 31/08/23, £25k on 30/11/23 and £20k on 31/12/23 from Designated Lectio 365 to Restricted Lectio 365 and £2.5k on 31/12/23 from Designated Waverley to Restricted Waverley

24-7 Prayer Trustees’ Report And Financial Statements

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Restricted Funds

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Net incoming Balances at Balances at
Incoming Outgoing / (outgoing) 31st December 31st March
resources resources resources Transfers 2023 2023
£ £ £ £ £ £
1. Students - - - - 181 181
2. International Development and Missions - (14,307) (14,307) - 72,058 86,365
3. Inner Room Prayer App 882 (17,262) (16,380) - 13,877 30,257
4. Prayer Spaces in Schools 55,410 (37,781) 17,629 - 26,522 8,893
707,957 (713,954) (5,997) 8,309 2,312 -
5. Wildfires Festival
6. Lectio 365 268,042 (348,660) (80,618) 145,000 105,435 41,053
7. Bursaries - (2,286) (2,286) - 1,554 3,840
8. Mother House / Waverley 2,773 (2,503) 270 2,503 7,597 4,824
9. Operations 2,275 (2,275) - - - -
10. Youth 5,618 (1,496) 4,122 - 4,179 57
Total 1,042,957 (1,140,524) (97,567) 155,812 233,715 175,470
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24-7 Prayer Trustees’ Report And Financial Statements

Previous Year

Unrestricted and Designated Funds

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Net incoming Balances at Balances at
Incoming Outgoing / (outgoing) 31st March 31st March
resources resources resources Transfers 2023 2022
£ £ £ £ £ £
General Fund 738,340 (1,126,230) (387,890) 522,743 336,564 201,711
Designated Funds
1. Training and Development - (2) (2) - 774 776
2. Mission and Justice - (388) (388) - - 388
3. Training Courses and Conferences 309,948 (234,969) 74,979 (57,681) 52,541 35,243
4. Waverley 55,532 (44,232) 11,300 - 44,193 32,893
- (16,685) (16,685) - - 16,685
5. Wildfires Festival
6. Prayer Spaces in Schools 2,359 (15) 2,344 - 2,757 413
7. OMS 29,594 (22,514) 7,080 (8,000) 27,024 27,944
8. Lectio 365 612,262 (104,640) 507,622 (500,000) 446,689 439,067
Total 1,009,695 (423,445) 586,250 (565,681) 573,978 553,409
Total Unrestricted Funds 1,748,035 (1,549,675) 198,360 (42,938) 910,542 755,120
Restricted Funds
Net incoming Balances at Balances at
Incoming Outgoing / (outgoing) 31st March 31st March
resources resources resources Transfers 2023 2022
£ £ £ £ £ £
1. Students - - - - 181 181
2. International Development
33,823 (4,219) 29,604 - 86,365 56,761
and Missions
3. Inner Room Prayer App 59,370 (46,225) 13,145 - 30,257 17,112
4. Prayer Spaces in Schools 11,698 (6,239) 5,459 - 8,893 3,434
579,022 (640,860) (61,838) 42,938 - 18,900
5. Wildfires Festival
6. Lectio 365 166,865 (132,416) 34,449 - 41,053 6,604
7. Bursaries - - - - 3,840 3,840
8. 24-7 Ireland 10,000 (10,000) - - - -
9. Mother House 1,161,818 (1,161,126) 692 - 4,824 4,132
10. Operations 3,270 (3,270) - - - -
11. Youth 9,783 (9,726) 57 - 57 -
Total 2,035,649 (2,014,081) 21,568 42,938 175,470 110,964
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Transfers between funds

Transfers between funds have occurred where unrestricted funds have been set aside for work which has been allocated to specific projects.

24-7 Prayer Trustees’ Report And Financial Statements

16) Analysis of net assets between funds

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Unrestricted funds Restricted funds Total funds
£ £ £
Investments 1 - 1
Fixed Assets 3,337 - 3,337
Current Assets 1,417,224 233,715 1,650,939
Creditors: amounts falling due within one year (390,171) - (390,171)
1,030,391 233,715 1,264,106
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Previous Year

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Unrestricted funds Restricted funds Total funds
£ £ £
Investments 1 - 1
Fixed Assets 5,061 - 5,061
Current Assets 1,269,105 175,470 1,444,575
Creditors: amounts falling due within one year (363,625) - (363,625)
910,542 175,470 1,086,012
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17) Related Party Transactions

The following payments were made to Trustees during the year relating to services provided in addition to their Trustee role:

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Apr-Dec 23 Apr 22-Mar 23
Salary and Fees Expenses Pension Total Salary and Fees Expenses Pension Total
£ £ £ £ £ £ £ £
P Greig 17,632 790 386 18,808 21,512 278 455 22,245
C Kuchanny - - - - 11,200 - - 11,200
E Alberto 150 - - 150 - - - -
17,782 790 386 18,958 32,712 278 455 33,445
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C Kuchanny & P Greig have trustee roles with Waverley Abbey Trust.

Donations totalling £5,730 were made to the charity by 4 trustees during the 9 month financial year (Apr 22 - Mar 23 £26,417 by 6 trustees).

Expenses of £790 were paid to trustees during the 9 month financial year (Apr 22 - Mar 23 £278).

Expenses relate to £790 for Travel (Apr 22 - Mar 23 £278 for Travel).

24-7 Prayer Trustees’ Report And Financial Statements

18) Reconciliation of net income to net cash flow from operating activities

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Apr - Dec 23 Apr 22 - Mar 23
£ £
Net income for the year 178,094 219,928
Interest receivable (27,535) (5,348)
3,523 22,961
Depreciation and impairment of tangible fixed assets
Decrease in stock - 112
6,260
Loss of disposal of fixed asset
Decrease / (increase) in debtors 103,172 (240,172)
Increase in creditors 26,546 131,323
283,800 135,064
Net cash flow from operating activities
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24-7 Prayer Trustees’ Report And Financial Statements

19) Comparative Statement of Financial Activities

Including Income and Expenditure Account for the year ended 31st March 2023

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Unrestricted Funds Restricted Funds Total 2023
Notes £ £ £
Income from:
Donations and similar income 3 1,557,428 1,735,476 3,292,904
Charitable activities 4 162,462 300,173 462,635
Other trading activities:
ç sale of merchandise 22,797 - 22,797
ç rent received - - -
Investments (Bank interest) 5,348 - 5,348
Total Income 1,748,035 2,035,649 3,783,684
Expenditure
Raising funds: 5
Cost of merchandise 44,321 - 44,321
Fundraising costs 78,514 - 78,514
Publicity costs 7,484 - 7,484
Charitable activities 6 1,419,355 2,014,081 3,433,436
Total resources expended 1,549,674 2,014,081 3,563,755
Net income / (expenditure) for the year 198,361 21,568 219,929
Gross transfers between funds (42,938) 42,938 -
Net movement in funds 155,423 64,506 219,929
Reconciliation of funds
Total funds at 1st April 2022 755,120 110,964 866,084
Total funds at 31st March 2023 910,543 175,470 1,086,013
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24-7 Prayer Trustees’ Report And Financial Statements

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