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2021-12-31-accounts

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 2021

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 2021

Trustees

Dr. S. F. Nash, Chair 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

Mr J Becker

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 2021

The Trustees present their annual report together with the financial statements of the company for the 1 January 2021 to 31 December 2021. 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 commenced activities. We reached financial independence in terms of support 10 years ago and continue developing outreach work in a number of locations in countries where there is limited religious freedom.

In 2021 we gained 2 new team members they came onto the budget in Jan & Feb 2021 so the team increased by 2 to 10 part time team members. They were gradually inducted to the team and trips were gradually started as travel restrictions were reduced. We did a total of 11 overseas trips in the year. In January 2021 we had a ‘hybrid team meeting’ with overseas team members on line. We were able to have a face to face team meetings in September 2021 with our Trustees. In September 2020 we had commenced online training with our partners and this was supplemented by online coaching. Team meetings were reduced to alternate weeks as travel started to pick up. We continued with the weekly time of sharing on Zoom which included Trustees.

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.

Page 2

3P MINISTRIES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

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. We are aware that 3P is working in several unstable countries where there is corruption and transferring money via the normal banking system has been very challenging. The end result of this is having to carry currency by hand or use trusted couriers and money service businesses to cover local training costs and supply the needs of partners. This is less than desirable but sadly there has been no other way to provide money to support the humanitarian crises in the nations we work in. To mitigate these risks they have a very tight reporting system which we require partners to adhere to.

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 2021

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 advisors who attend trustee meetings but do not have voting rights. A new potential Trustee was agreed upon in September after attending our face to face meeting and will be appointed at the AGM. He has a large experience in a UK Charity responsible for running libraries and will be a good addition.

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, Central Asia, and the Arabian Peninsular.

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.

Page 4

3P MINISTRIES

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

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 26 June 2022 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 2021

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:

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 2021

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 2021.

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

Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

Dated: 26 June 2022

For Landergan & Co Ltd 26 Burney Street London SE10 8EX

Page 7

3P MINISTRIES

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Note
INCOME FROM:
Donations and legacies
2
Investments
3
TOTAL INCOME
EXPENDITURE ON:
Raising funds
Charitable activities
TOTAL EXPENDITURE
7
NET INCOME / (EXPENDITURE) BEFORE
TRANSFERS
Transfers between Funds
14
NET INCOME / (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
2021
£
2021
£
468,113
30,747
-
-
468,113
30,747
-
698
334,843
59,731
334,843
60,429
133,270
(29,682)
1,809
(1,809)
135,079
(31,491)
135,079
(31,491)
126,562
80,227
261,641
48,736		 Total
funds
2021
£
498,860
-
498,860
698
394,574
395,272
103,588
-
103,588
103,588
206,789
310,377		 Total
funds
2020
£
320,862
1
320,863
216
411,767
411,983
(91,120)
-
(91,120)
(91,120)
297,909
206,789

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 2021

Note
FIXED ASSETS
Tangible assets
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
13
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Restricted funds
14
Unrestricted funds
14
TOTAL FUNDS		 £
4,758
314,239
318,997
(9,532)		 2021
£
912
309,465
310,377
261,641
48,736
310,377		 £
2,244
205,489
207,733
(2,160)		 2020
£
1,216
205,573
206,789
126,562
80,227
206,789

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 26 June 2022 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 2021

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 2021

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 2021

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:

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 2021

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 2020		 Restricted
funds
Unrestricted
funds
2021
£
2021
£
468,113
30,747
267,994
52,868		 Total
funds
2021
£
498,860
320,862		 Total
funds
2020
£
320,862

Page 13

3P MINISTRIES

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

3. INVESTMENT INCOME

INVESTMENT INCOME
Bank Interest received
Total 2020		 Restricted
funds
Unrestricted
funds
2021
£
2021
£
-
-
-
1		 Total
funds
2021
£
-
1		 Total
funds
2020
£
1

Page 14

3P MINISTRIES

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

4. CHARITABLE ACTIVITIES - DIRECT COSTS

Field and project costs
Total 2020		 Ministry
Activities
£
257,691
292,781		 Total
2021
£
257,691
292,781		 Total
2020
£
292,781

5. CHARITABLE ACTIVITIES - SUPPORT COSTS

Travel
Bank charge
Aministrative Services
Consultancy fees
Foreign exchange
Wages and salaries
National insurance
Pension cost
Depreciation
Total 2020		 Ministry
Activities
£
10,777
1,104
5,434
58,618
(1,056)
56,789
282
2,471
304
134,723
116,826		 Total
2021
£
10,777
1,104
5,434
58,618
(1,056)
56,789
282
2,471
304
134,723
116,826		 Total
2020
£
6,146
971
6,664
38,767
15,289
45,117
1,056
2,410
406
116,826

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
2021 2021 2021 2020
£ £ £ £
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 2021

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 2020		 Staff costs
Depreciation
Other costs
2021
£
2021
£
2021
£
-
-
698
-
-
698
59,542
304
74,877
-
-
257,691
59,542
304
332,568
-
-
2,160
59,542
304
335,426
48,583
406
362,994		 Total
2021
£
698
698
134,723
257,691
392,414
2,160
395,272
411,983		 Total
2020
£
216
216
116,826
292,781
409,607
2,160
411,983

8. NET INCOME/(EXPENDITURE)

This is stated after charging:

2021 2020
£ £
Depreciation of tangible fixed assets:
- owned by the charity 304 406
Independent Examiner's fees 2,160 2,160

During the year, no Trustees received any remuneration (2020- £NIL) neither any benefits in kind (2020£NIL). Certain Trustees were reimbursed for travel expenses to area of operation but only to cover their responsibilities as trustees. A total of £2,843 (2020 - £1,782) was reimbursed during the year.

9. EXAMINER'S REMUNERATION

The Independent Examiner's remuneration amounts to an Independent Examination fee of £2,160 (2020 - - - £2,160).

Page 16

3P MINISTRIES

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

10. STAFF COSTS

Staff costs were as follows:

Wages and salaries
Social security costs
Other pension costs		 2021
£
56,789
282
2,471
59,542		 2020
£
45,117
1,056
2,410
48,583

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		 2021
No.
2
1
3
2021
No.
3		 2020
No.
1
1
2
2020
No.
2

No employee received remuneration amounting to more than £60,000 in either year.

11. TANGIBLE FIXED ASSETS

Cost
At 1 January 2021 and 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Office
equipment
£
13,671
12,455
304
12,759
912
1,216

Page 17

3P MINISTRIES

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

12. DEBTORS

DEBTORS
Other debtors
Prepayments and accrued income		 2021
£
2,280
2,478
4,758		 2020
£
1,852
392
2,244

13. CREDITORS: Amounts falling due within one year

CREDITORS: Amounts falling due within one year
Other creditors
Accruals and deferred income		 2021
£
7,372
2,160
9,532		 2020
£
-
2,160
2,160

Page 18

3P MINISTRIES

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

14. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Balance at
1 January
2021
£
Designated funds
Designated Funds - all funds
2,866
General funds
General Funds - all funds
77,361
Total Unrestricted funds
80,227
Restricted funds
Restricted Funds - all funds
126,562
Total of funds
206,789
STATEMENT OF FUNDS - PRIOR YEAR
Balance at
1 January
2020
£
Designated Funds - all funds
3,233
General Funds - all funds
106,722
Restricted funds
Restricted Funds - all funds
187,954
Total of funds
297,909		 Income Expenditure
£
£
-
(751)
30,747
(59,678)
30,747
(60,429)
468,113
(334,843)
498,860
(395,272)
Income
Expenditure
£
£
-
(367)
52,869
(75,400)
267,994
(336,216)
320,863
(411,983)		 Transfers
in/out
£
-
(1,809)
(1,809)
1,809
-
Transfers
in/out
£
-
(6,830)
6,830
-		 Balance at
31
December
2021
£
2,115
46,621
48,736
261,641
310,377
Balance at
31
December
2020
£
2,866
77,361
126,562
206,789

Page 19

3P MINISTRIES

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

SUMMARY OF FUNDS - CURRENT YEAR

Balance at
1 January
2021
£
Designated funds
2,866
General funds
77,361
80,227
Restricted funds
126,562
206,789
SUMMARY OF FUNDS - PRIOR YEAR
Balance at
1 January
2020
£
Designated funds
3,233
General funds
106,722
109,955
Restricted funds
187,954
297,909		 Income Expenditure
£
£
-
(751)
30,747
(59,678)
30,747
(60,429)
468,113
(334,843)
498,860
(395,272)
Income
Expenditure
£
£
-
(367)
52,869
(75,400)
52,869
(75,767)
267,994
(336,216)
320,863
(411,983)		 Transfers
in/out
£
-
(1,809)
(1,809)
1,809
-
Transfers
in/out
£
-
(6,830)
(6,830)
6,830
-		 Balance at
31
December
2021
£
2,115
46,621
48,736
261,641
310,377
Balance at
31
December
2020
£
2,866
77,361
80,227
126,562
206,789

An analysis of the funds of the charity is set out in Appendix 1 which does not form part of the accounts

15. 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
2021
£
2021
£
-
912
269,013
49,984
(7,372)
(2,160)
261,641
48,736		 Total
funds
2021
£
912
318,997
(9,532)
310,377

Page 20

3P MINISTRIES

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

15. 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
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

Page 21

3P MINISTRIES

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

16. 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 £2,471 (2020 - £2,410). There were no contributions outstanding at the end of the year, (2020 - £nil).

17. RELATED PARTY TRANSACTIONS

The charity shares limited resources, administration staff and office space with another charity though their activities are in different areas.

The Trustees donated £3,895 during 2021 (2020 £24,106) and received no benefits as a result

18. CONDUIT FUNDING

During the year £41,737 (2020 - £42,418) 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. Further £7,313 was received for work in Africa and the year-end no funds were still to be forwarded (2020 £ Nil.)

Page 22