Registered number: 4546198 Charity number: 1097597
3P MINISTRIES
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
3P MINISTRIES
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Trustees' responsibilities statement | 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 22 |
3P MINISTRIES
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020
Trustees
Dr. S. F. Nash, Principal Mr. L. Pfister Mr. B Mills Mrs. M J Wooding Jones Mr. A Crow
Company registered number
4546198
Charity registered number
1097597
Registered office
Meadowside, 2 Church Road, Keston, Kent, BR2 6HT
Company secretary
Dr. S. F. Nash
Chief executive officer
Dr S F Nash
Independent Examiner
P M Landergan FCA, 26 Burney Street, London, SE10 8EX
Bankers
The Royal Bank of Scotland, 12 Elmfield Road, Bromley, BR1 1LP
HSBC, 47 Rye Lane, Peckham, London, SE15 5ET
Page 1
3P MINISTRIES
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their annual report together with the financial statements of the company for the 1 January 2020 to 31 December 2020. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).
Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
OBJECTIVES AND ACTIVITIES
a. Policies and Objectives
The principal object of the company is the advancement of the Christian faith and, in particular, by helping to establish church planting movements in countries with limited religious freedom.
b. Activities for achieving objectives
The charity was started in 2002 and then commenced activities. We have raised considerable financial support over the last 5 years, which has enabled us to continue developing outreach work in countries where there is limited religious freedom. This work takes the form of training, coaching, advising and team development.
In 2020 we lost a second team member in 2 years due to ill health and he came off the budget on 1st October 2020 so the team reduced to 4 members. As a team we were able to do 6 overseas trips before the Corona Virus pandemic and there were no overseas trips from March to December 2020. In September 2020, following the team meeting we made a strategic decision to transfer to online training courses. In a similar way we learned new skills and started to coach our partners online to achieve their objectives. We had 2 face to face team meetings in January & September 2020 but the second one required overseas team members to Zoom in. We were able to have 2 Trustees meetings and a separate AGM to conduct official matters. In April 2020 the team started having weekly Zoom team meetings as there was so little travelling and we were able to give attention to many important non-urgent matters. We continued with our normal weekly time of sharing on Zoom which includes Trustees
In 2019 the Team & Trustees had taken a strategic decision to recruit new team members. We were successful in this and have recruited 5 people working 1-day a week and they were added to the budget. One of these appointments was with a view to taking over as CEO as Dr Stephen Nash is over 65 and succession planning is very important.
In February 2020 Dr Stephen Nash, the CEO, took the lead to organise a Global Church Planting Summit which brought together 5 organisations with the same vision. This was held in Chiang Mai, Thailand and a separate joint budget was created to enable this to happen. It involved 153 people from over 20 nations.
Page 2
3P MINISTRIES
(A company limited by guarantee)
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020
c. Main activities undertaken to further the charity's purposes for Public Benefit
The Trustees have paid due regard to guidance issued by the Charities Commission on public benefit in deciding what activities the charity should undertake, even though these activities are highly confidential, for the advancement of religion in counties where the church is persecuted.
The team members are all active in local projects in the UK in addition to their overseas work. These include caring for the homeless, helping young drug offenders, café for local residents, language classes for immigrants and helping youth in the streets on Friday and Saturday nights.
ACHIEVEMENTS AND PERFORMANCE
a. Key financial performance indicators
Restricted Fund activities cover the majority of activities undertaken by the charity and there activities are properly funded. It is recognised that funding for a project is received before activities commence and that this will result in fluctuating surplus/deficit outcomes over successive years.
b. Review of activities and assessment of inherent financial risk
The trustees do not consider the charity to be at risk as there are no ongoing financial commitments concerning support costs and administration costs. However, the trustees continue to review the charity's activities to identify those areas where the charity could be exposed to major risks with a view to establishing procedures to mitigate those risks. Projects are not undertaken unless there is adequate finance available. In addition, the charity ensures that it maintains cash resources to meet three month's running expenditure.
FINANCIAL REVIEW
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
b. Reserves policy
The charity ensures that it maintains sufficient unrestricted reserves to meet three months' running expenditure. The Board currently has a priority focus on finding alternative funding sources for the work, in an effort to reduce the reliance on support from a few major funders. In addition, projects are not undertaken unless there is adequate finance available.
Page 3
3P MINISTRIES (A company limited by guarantee)
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
a. Constitution
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 26 September 2002 .
The company is constituted under a Memorandum of Association dated 26 September 2002 and is a registered charity number 1097597.
b. Method of appointment or election of Trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the memorandum and Articles of Association.
All directors of the company are also trustees of the charity and there are no other trustees. Except where noted all of the trustees named served throughout the period. The Board has the power to appoint additional trustees as it considers fit to do so. At present 2 new trustees are under consideration.
c. Organisational structure and decision making
The charity is organised so that the trustees meet regularly to manage its affairs. The directors are primarily engaged in direct charitable activities, which includes considering potential projects, running training courses and promoting the vision of church planting and prayer. Since its inception, the charity has completed projects in North Africa, the Middle East and Central Asia.
Certain overseas projects are classified as being Restricted Fund activities being carried out throughout our whole working region.
The Board meets periodically throughout the year to discuss issues and to vote on matters arising.
d. Risk management
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. In May 2020 one team member, who is resident in Turkey, had a stroke and had to be evacuated by air ambulance..
Page 4
3P MINISTRIES
(A company limited by guarantee)
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020
PLANS FOR FUTURE PERIODS
a. Future developments
In 2020 we were able to expand our work into 2 new nations largely as a result of one of the new team members who had contacts in those countries. The Trustees plan to continue work in current 12 nations and to continue to seek other nations/areas/people groups that the charity can work with within its geographical areas, subject to raising sufficient funds for new work.
3P team members continue to attend the North Africa Partnership, Middle East Muslim Partnership, Central Asia Consultation and Global Church Planting Network consultations. It is in these gatherings that we are able to identify new partners and projects which we can adopt. In addition we meet with leaders in our target nations which enables us to plan our programs over the coming year. Several of our donors also attend these conferences, which gives us the opportunity to share in person and discuss important financial matters
We are expanding so the team is actively seeking new members so, to that end, 5 potential team member attended our July meeting, along with the 2 potential new trustees.
We have an objective to expand into 2 more nations in 2021..
This report was approved by the Trustees, on 29 July 2021 and signed on their behalf by:
Dr. S. F. Nash, Chairman
Page 5
3P MINISTRIES
(A company limited by guarantee)
TRUSTEES' RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees (who are also directors of 3P Ministries for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP;
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 6
3P MINISTRIES (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF 3P MINISTRIES (the 'company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2020.
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: P M Landergan FCA. For Landergan & Co Ltd 26 Burney Street London SE10 8EX
Dated: 29 July 2021
Page 7
3P MINISTRIES
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020
| Note INCOME FROM: Donations and legacies 2 Investments 3 TOTAL INCOME EXPENDITURE ON: Raising funds Charitable activities TOTAL EXPENDITURE 7 NET EXPENDITURE BEFORE TRANSFERS Transfers between Funds 13 NET EXPENDITURE BEFORE OTHER RECOGNISED GAINS AND LOSSES NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Restricted funds Unrestricted funds 2020 £ 2020 £ 267,994 52,868 - 1 267,994 52,869 - 216 336,216 75,551 336,216 75,767 (68,222) (22,898) 6,830 (6,830) (61,392) (29,728) (61,392) (29,728) 187,954 109,955 126,562 80,227 |
Total funds 2020 £ 320,862 1 320,863 216 411,767 411,983 (91,120) - (91,120) (91,120) 297,909 206,789 |
Total funds 2019 £ 351,647 2 351,649 216 369,234 369,450 (17,801) - (17,801) (17,801) 315,710 297,909 |
|---|---|---|---|
The notes on pages 10 to 22 form part of these financial statements.
Page 8
3P MINISTRIES (A company limited by guarantee) REGISTERED NUMBER: 4546198
BALANCE SHEET AS AT 31 DECEMBER 2020
| Note FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS:amounts falling due within one year 12 NET CURRENT ASSETS NET ASSETS CHARITY FUNDS Restricted funds 13 Unrestricted funds 13 TOTAL FUNDS |
£ 2,244 205,489 207,733 (2,160) |
2020 £ 1,216 205,573 206,789 126,562 80,227 206,789 |
£ 3,874 294,573 298,447 (2,160) |
2019 £ 1,622 296,287 |
|---|---|---|---|---|
| 297,909 | ||||
| 187,954 109,955 |
||||
| 297,909 |
The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees on 29 July 2021 and signed on their behalf, by:
Dr. S. F. Nash, Chairman
The notes on pages 10 to 22 form part of these financial statements.
Page 9
3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
3P Ministries meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Company status
The company is a company limited by guarantee. The members of the company are the Trustees named on page . In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
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 which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 10
3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES (continued)
1.4 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 11
3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES (continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
1.6 Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of financial activities incorporating income and expenditure account and reflected as part of General Funds..
1.7 Tangible fixed assets and depreciation
All assets costing more than £250 are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account and reflected as part of General Funds..
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Office equipment 25% reducing balance
1.8 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
Page 12
3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES (continued)
1.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.10 Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
1.11 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
1.13 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2. INCOME FROM DONATIONS AND LEGACIES
| Donations Total 2019 |
Restricted funds Unrestricted funds 2020 £ 2020 £ 267,994 52,868 310,845 40,802 |
Total funds 2020 £ 320,862 351,647 |
Total funds 2019 £ 351,647 |
|---|---|---|---|
Page 13
3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
3. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| Bank Interest received Total 2019 |
Restricted funds Unrestricted funds 2020 £ 2020 £ - 1 - 2 |
Total funds 2020 £ 1 2 |
Total funds 2019 £ 2 |
Page 14
3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
4. CHARITABLE ACTIVITIES - DIRECT COSTS
| Field and project costs Total 2019 |
Ministry Activities £ 292,781 259,530 |
Total 2020 £ 292,781 259,530 |
Total 2019 £ 259,530 |
|---|---|---|---|
5. CHARITABLE ACTIVITIES - SUPPORT COSTS
| Travel Bank charge Aministrative Services Consultancy fees Foreign exchange Wages and salaries National insurance Pension cost Depreciation Total 2019 |
Ministry Activities £ 6,146 971 6,664 38,767 15,289 45,117 1,056 2,410 406 116,826 107,544 |
Total 2020 £ 6,146 971 6,664 38,767 15,289 45,117 1,056 2,410 406 116,826 107,544 |
Total 2019 £ 28,984 848 3,869 25,583 1,962 43,008 463 2,286 541 107,544 |
|---|---|---|---|
The exchange differences are in respect of currency accounts held at the year end. The gains reported in the current year may reverse in future years as exchange rates vary and the charity continues to hold funds in foreign currencies.
6. GOVERNANCE COSTS
| GOVERNANCE COSTS | ||||
|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | |
| funds | funds | funds | funds | |
| 2020 | 2020 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Independent examiners fees | - | 2,160 | 2,160 | 2,160 |
Page 15
3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
7.
ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE
| Expenditure on raising voluntary income Costs of raising funds Support costs Direct costs Charitable activities Expenditure on governance Total 2019 |
Staff costs Depreciation Other costs 2020 £ 2020 £ 2020 £ - - 216 - - 216 48,583 406 67,837 - - 292,781 48,583 406 360,618 - - 2,160 48,583 406 362,994 45,757 541 323,152 |
Total 2020 £ 216 216 116,826 292,781 409,607 2,160 411,983 369,450 |
Total 2019 £ 216 |
|---|---|---|---|
| 216 | |||
| 107,544 259,530 |
|||
| 367,074 | |||
| 2,160 | |||
| 369,450 | |||
8. NET INCOME/(EXPENDITURE)
This is stated after charging:
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets: | ||
| - owned by the charity | 406 | 541 |
| Independent Examiner's fees | 2,160 | 2,160 |
During the year, no Trustees received any remuneration (20189 - £NIL) neither any benefits in kind (2019- £NIL). Certain Trustees were reimbursed for travel expenses to area of operation but only to cover their responsibilities as trustees. A total of £PLEASE CONFIRM (2019 - £1,782) was reimbursed during the year.
Page 16
3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
9. STAFF COSTS
Staff costs were as follows:
| Wages and salaries Social security costs Other pension costs |
2020 £ 45,117 1,056 2,410 48,583 |
2019 £ 43,008 463 2,286 |
|---|---|---|
| 45,757 |
The average number of persons employed by the company during the year was as follows:
| Project Staff Administration Average headcount expressed as a full time equivalent: Full time equivalent staff |
2020 No. 1 1 2 2020 No. 2 |
2019 No. 1 1 |
|---|---|---|
| 2 | ||
| 2019 No. 2 |
No employee received remuneration amounting to more than £60,000 in either year.
10. TANGIBLE FIXED ASSETS
| Cost At 1 January 2020 and 31 December 2020 Depreciation At 1 January 2020 Charge for the year At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 |
Office equipment £ 13,671 12,049 406 12,455 1,216 1,622 |
|---|---|
Page 17
3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| 11. DEBTORS Other debtors Prepayments and accrued income 12. CREDITORS: Amounts falling due within one year Accruals and deferred income |
2020 £ 1,852 392 2,244 2020 £ 2,160 |
2019 £ 1,428 2,446 |
|---|---|---|
| 3,874 | ||
| 2019 £ 2,160 |
Page 18
3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
13. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
| Balance at 1 January 2020 £ Designated funds Designated Funds - all funds 3,233 General funds General Funds - all funds 106,722 Total Unrestricted funds 109,955 Restricted funds Restricted Funds - all funds 187,954 Total of funds 297,909 STATEMENT OF FUNDS - PRIOR YEAR Designated Funds - all funds General Funds - all funds Restricted funds Restricted Funds - all funds Total of funds |
Income Expenditure £ £ - (367) 52,869 (75,400) 52,869 (75,767) 267,994 (336,216) 320,863 (411,983) Balance at 1 January 2019 Income £ £ 3,233 - 104,902 40,804 207,575 310,845 315,710 351,649 |
Transfers in/out £ - (6,830) (6,830) 6,830 - Expenditure £ - (38,984) (330,466) (369,450) |
Balance at 31 December 2020 £ 2,866 77,361 80,227 126,562 206,789 Balance at 31 December 2019 £ 3,233 106,722 187,954 297,909 |
|---|---|---|---|
Page 19
3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
SUMMARY OF FUNDS - CURRENT YEAR
| Balance at 1 January 2020 £ Designated funds 3,233 General funds 106,722 109,955 Restricted funds 187,954 297,909 SUMMARY OF FUNDS - PRIOR YEAR Designated funds General funds Restricted funds |
Income Expenditure £ £ - (367) 52,869 (75,400) 52,869 (75,767) 267,994 (336,216) 320,863 (411,983) Balance at 1 January 2019 Income £ £ 3,233 - 104,902 40,804 108,135 40,804 207,575 310,845 315,710 351,649 |
Transfers in/out £ - (6,830) (6,830) 6,830 - Expenditure £ - (38,984) (38,984) (330,466) (369,450) |
Balance at 31 December 2020 £ 2,866 77,361 80,227 126,562 206,789 |
|---|---|---|---|
| Balance at 31 December 2019 £ 3,233 106,722 109,955 187,954 297,909 |
An analysis of the funds of the charity is set out in Appendix 1 which does not form part of the accounts
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
| Tangible fixed assets Current assets Creditors due within one year |
Restricted funds Unrestricted funds 2020 £ 2020 £ - 1,216 126,562 81,171 - (2,160) 126,562 80,227 |
Total funds 2020 £ 1,216 207,733 (2,160) 206,789 |
|---|---|---|
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3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
| Tangible fixed assets Current assets Creditors due within one year |
Restricted funds Unrestricted funds 2019 £ 2019 £ - 1,622 187,954 110,493 - (2,160) 187,954 109,955 |
Total funds 2019 £ 1,622 298,447 (2,160) 297,909 |
|---|---|---|
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3P MINISTRIES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
15. PENSION COMMITMENTS
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,410 (2019 - £12,286). There were no contributions outstanding at the end of the year, (2019 - £nil).
16. RELATED PARTY TRANSACTIONS
The charity shares limited resources, administration staff and office space with another charity though their activities are in different areas.
During the year, donations of £23,333 (2019 - £nil) were received and grants of £21,509 (2019 - £nil) given to Global Church Planting Network a UK Based charity that has two common trustees with 3P Ministries. These amounts have been included with “Operational and Field Costs” and the projects were subject to the same checks and safeguards as the other activities.
The charity also paid for services provided to another charity with common Trustee totalling £312 (2019 (£312l.)
Thr Trustees donated £24,106 during 2020 and received no benefits as a result
17. CONDUIT FUNDING
During the year £42,418 (2019 - £77,763) was received from HMK and passed on to a registered charity operating in the Arabian Peninsula and a UK Organisation that was in the process of becoming a registered Charity. At the year-end no funds were held in respect of these transactions (2019 £ Nil.)
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