## 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:
1. The vision - Raising Christians in confident prayer.
2. The mission - Training God's people in biblical accuracy, prophetic insight, intimate worship, and informed intercession.
3. 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:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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:
1. accounting records were not kept in respect of The Prayer Foundation 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.
...................................... 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:
- 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
- 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