ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
The Prayer Foundation
(A company limited by guarantee) Charity registration number: 1123018 Company registration number: 06269030
Independent Examiners Ltd The Grain Store Hills Barns
Appledram Lane South Chichester West Sussex PO20 7EG
THE PRAYER FOUNDATION
CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 15 |
THE PRAYER FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
Lady Susan Sainsbury (resigned 30 July 2025) Rev Douglas Williams Dr Agnes Sullivan Mr Andrew Chua Mr Jamie Anderson
Charity Registration 1123018 Number
Company Registration 06269030 Number
Registered Office 6 Calais Street London SE5 9LP Independent Examiner G W Schulz FCMA Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
Page 1
THE PRAYER FOUNDATION
TRUSTEES' REPORT
The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2024.
Objectives and activities
Objects and aims
The object of the charitable company is the advancement of the Christian faith by such charitable means as the Trustees in their absolute discretion shall think fit. The principal activity is prayer and teaching people to pray more effectively.
Public benefit
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
The Prayer Foundation (TPF) works from the UK, however the ministry is international. Since its founding, under the leadership of Rod & Julie Anderson, TPF has been in the vanguard of expanding the strategic frontiers of prayer by hosting prayer gatherings, and teaching seminars & conferences, to promote:
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The vision - Raising Christians in confident prayer.
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The mission - Training God's people in biblical accuracy, prophetic insight, intimate worship, and informed intercession.
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The commitment - Sustaining regular intercession for the nation, government, the Church, families and the media.
We facilitate the Deborah Company UK, a gathering of leaders and ladies who maintain Christian values in society. Prayer is facilitated through the Deborah Company UK Prayer Courts meetings. Teaching videos are available to our supporters on our YouTube channel.
During 2022 our founder and CEO, Julie Anderson, suffered a traumatic brain injury, which compelled the charity to limit its activities to online meetings. Sadly, she passed away in March 2025, and the Trustees are now considering the best way forward to further our charitable objective, which is to advance the Christian faith.
The Prayer Foundation has continued to build on strong links with two other charities: Prayer for the Nations (326994) and Commonwealth Christian Fellowship (8011342).
Financial review
Policy on reserves
The Trustees have determined that, in line with their belief that God provides for the work to which He calls His people, no reserves should be maintained for the work of the charity.
Page 2
THE PRAYER FOUNDATION
TRUSTEES' REPORT
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity 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.
Structure, governance and management
Nature of governing document
The Prayer Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
Recruitment and appointment of Trustees
New Trustees are elected by the Board periodically. New trustees are provided with historical charity documentation and referred to the Charity Commission website for guidance and publications on becoming a trustee.
Organisational structure
The Trustees are responsible for the general strategic direction, governance and financial viability and control. They monitor the activities of the Trust through regular reports, management accounts and approval of major items of expenditure. The Trustees meet annually, or more frequently if necessary.
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Page 3
THE PRAYER FOUNDATION
TRUSTEES' REPORT
Statement of Responsibilities
The Trustees (who are also the directors of The Prayer Foundation 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
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 its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that can 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.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the Trustees of the charity on 24 September 2025 and signed on its behalf by:
......................................... i © WADe Rev Douglas Williams Trustee
Page 4
THE PRAYER FOUNDATION
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PRAYER FOUNDATION
I report to the charity Trustees on my examination of the accounts of The Prayer Foundation for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity’s Trustees of The Prayer Foundation (and also 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 Prayer Foundation 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 your charity’s accounts as 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of The Prayer Foundation as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
...................................... G W Schulz FCMA Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
24 September 2025
Page 5
THE PRAYER FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 3 25,916 Other trading activities 4 43 Investment income 5 53 Total income 26,012 Expenditure on: Raising funds 16 Charitable activities 6 24,525 Total expenditure 24,541 Net income 1,471 Net movement in funds 1,471 Reconciliation of funds Total funds brought forward 217,022 Total funds carried forward 12 218,493 |
Total 2024 £ 25,916 43 53 26,012 16 24,525 24,541 1,471 1,471 217,022 218,493 |
Total 2023 £ 59,675 55 19 |
|---|---|---|
| 59,749 | ||
| 35 30,310 |
||
| 30,345 | ||
| 29,404 | ||
| 29,404 187,618 |
||
| 217,022 |
The notes on pages 8 to 15 form an integral part of these financial statements. Page 6
THE PRAYER FOUNDATION
(REGISTRATION NUMBER: 06269030) BALANCE SHEET AS AT 31 DECEMBER 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Stocks | 1,003 | 1,011 | |
| Debtors | 10 | 338,353 | 342,568 |
| Cash at bank and in hand | 2,190 | 2,088 | |
| 341,546 | 345,667 | ||
| Creditors: Amounts falling due within one year | 11 | (123,053) | (128,645) |
| Net assets | 218,493 | 217,022 | |
| Funds of the charity: | |||
| Unrestricted income funds | |||
| Unrestricted funds | 218,493 | 217,022 | |
| Total funds | 12 | 218,493 | 217,022 |
For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 6 to 15 were approved by the Trustees, and authorised for issue on 24 September 2025 and signed on their behalf by:
......................................... Rev Douglas Williams Trustee
The notes on pages 8 to 15 form an integral part of these financial statements. Page 7
THE PRAYER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Charity status
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
The Prayer Foundation 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 notes.
Going concern
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 8
THE PRAYER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Gift aid
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Page 9
THE PRAYER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Asset class Depreciation method and rate Short-term leasehold property 20% straight line Fixtures and fittings 20% reducing balance Computer equipment 33% straight line Plant and machinery 25% reducing balance
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Liabilities
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.
Page 10
THE PRAYER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Fund structure
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.
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.
3 Income from donations and legacies
| Donations and legacies; Donations Gift aid reclaimed |
Unrestricted funds General £ 25,601 315 25,916 |
Total 2024 £ 25,601 315 25,916 |
Total 2023 £ 59,034 641 |
|---|---|---|---|
| 59,675 |
4 Income from other trading activities
| Trading income; Sales of resources 5 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 43 43 Unrestricted funds General £ 53 |
Total funds £ 43 43 Total 2024 £ 53 |
Total 2023 £ 55 |
|---|---|---|---|
| 55 | |||
| Total 2023 £ 19 |
Page 11
THE PRAYER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6 Expenditure on charitable activities
| Note Rent and storage Repairs and maintenance Motor expenses Computer and website Telephone Post, printing and stationery Legal and professional fees Bank and credit card costs Sundry expenses Independent examination Grant funding of activities 7 Staff costs 9 |
Unrestricted funds General £ - 4 - 7,959 961 107 300 322 66 2,100 840 11,866 24,525 |
Total 2024 £ - 4 - 7,959 961 107 300 322 66 2,100 840 11,866 24,525 |
Total 2023 £ 838 732 633 6,644 1,361 135 648 332 - 2,100 1,360 15,527 |
|---|---|---|---|
| 30,310 |
7 Grant-making
Analysis of grants
| Grants | Grants to institutions 2024 £ 2023 £ 840 1,360 |
|---|---|
8 Trustees remuneration and expenses
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No Trustees have received any reimbursed expenses or any other benefits from the charity during the year.
A company owned by a trustee, Mr J Anderson, provided webhosting services during the year amounting to £1,614 (2024 - £1,614).
Page 12
THE PRAYER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9 Staff costs
The aggregate payroll costs were as follows:
| 9 Staff costs The aggregate payroll costs were as follows: |
||
|---|---|---|
| Staff costs during the year were: Wages and salaries Social security costs |
2024 £ 11,866 - 11,866 |
2023 £ 15,445 82 |
| 15,527 |
| The monthly average number of persons (including senior management / leadership | The monthly average number of persons (including senior management / leadership | The monthly average number of persons (including senior management / leadership |
|---|---|---|
| team) employed by the charity during the year expressed as full time equivalents was as | ||
| follows: | ||
| 2024 | 2023 | |
| No | No | |
| Staff | 1 | 1 |
| No employee received emoluments of more than £60,000 during the year. | ||
| 10 Debtors | ||
| 2024 | 2023 | |
| £ | £ | |
| Due from group undertakings | 338,303 | 342,041 |
| Accrued income | 50 | 56 |
| Other debtors | - | 471 |
| 338,353 | 342,568 |
Page 13
THE PRAYER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
11 Creditors: amounts falling due within one year
| 11 Creditors: amounts falling due within one year | ||
|---|---|---|
| Trade creditors Other loans Other creditors Accruals |
2024 £ 451 120,602 - 2,000 123,053 |
2023 £ - 126,602 42 2,001 |
| 128,645 |
Other loans includes the sum loaned by an anonymous person. A loan agreement was executed stating that the loan was interest free and unsecured. A letter of support has been received by the charity which states that this loan is subrogated to other creditors of the charity and that this guarantee will remain in place until such time as the charity has sufficient funds to meet all its obligations.
12 Funds
| 12 Funds | ||||
|---|---|---|---|---|
| Unrestricted funds General General Funds Unrestricted funds General General Funds Restricted funds House fund Total funds |
Balance at 1 January 2024 £ 217,022 Balance at 1 January 2023 £ 186,618 1,000 187,618 |
Incoming resources £ 26,005 Incoming resources £ 59,732 - 59,732 |
Resources expended £ (24,534) Resources expended £ (29,328) (1,000) (30,328) |
Balance at 31 December 2024 £ 218,493 |
| Balance at 31 December 2023 £ 217,022 - |
||||
| 217,022 |
Page 14
THE PRAYER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
13 Analysis of net assets between funds
| 13 Analysis of net assets between funds | ||
|---|---|---|
| Current assets Current liabilities Total net assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 327,546 (129,053) 198,493 Unrestricted funds General £ 340,802 (128,175) 212,627 |
Total funds at 31 December 2024 £ 327,546 (129,053) |
| 198,493 | ||
| Total funds at 31 December 2023 £ 340,802 (128,175) |
||
| 212,627 |
Page 15