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2022-06-30-accounts

Charity registration number: 1123283

DEREK PRINCE MINISTRIES (UK)

Annual Report and Financial Statements

for the Year Ended 30 June 2022

Contents

Contents
Reference and Administrative Details 1
Trustees' Report 2 to 9
Statement of Trustees' Responsibilities 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14 to 22

Reference and Administrative Details

Trustees

P Lord

RD Paterson M DeVito R Kolaneci DG Selby N Cornick

Principal Office

PO Box 393 Hitchin SG5 9EU

Charity Registration Number

1123283

Independent Examiner

Kolade Andrew Alli ACMA KARE Financial Management Consultants Ltd 10 Gatcombe Gardens West End, Hampshire SO18 3NA

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity converted into a CIO on the 31 May 2019, is controlled by its governing document, as defined by the Charities Act 2011.

Constitution

Derek Prince Ministries (UK) was established as a charity in 1988, as a charitable company in 2008, and then converted into a charity CIO Foundation on the 31 May 2019.

Page 1

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 30 June 2022.

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.

Mission Statement

Derek Prince Ministries exists to develop disciples of Jesus Christ, through the Bible teaching of Derek Prince.

Our vision is to reach the peoples of the world in a language they can understand, with the Bible teaching of Derek Prince, using every type of media and all forms of distribution, regardless of the economic means of the recipients.

Derek Prince

Derek Prince (1915-2003) was born in India of British parents. He was educated as a scholar of Greek and Latin at Eton College and Cambridge University, where he held a Fellowship in Ancient and Modem Philosophy at King's College. He also studied Hebrew and Aramaic, both at Cambridge University and the Hebrew University in Jerusalem. In addition, he spoke a number of other modem languages.

While serving with the British army in World War II, he began to study the Bible and experienced a life-changing encounter with Jesus Christ. Out of this encounter he formed two conclusions: first, that Jesus Christ is alive; second, that the Bible is a true, relevant, up-to-date book. These conclusions altered the whole course of his life. After that time, he devoted the rest of his life to studying and teaching the Bible.

He is the author of over 60 books, over 450 audios and 150 video teaching messages, many of which have been translated and published in more than 100 languages.

Derek's main gift was explaining the Bible and its teaching, in a clear and simple way. His non-denominational, non-sectarian approach has made his teaching equally relevant and helpful to people from all racial and religious backgrounds.

Derek Prince poured himself out to reach the unreached, and teach the untaught - to see God's people grow to maturity in the Word. Through our work in the UK and around the world, we endeavour to seek new ways of fulfilling Derek's original calling to be a teacher of the Scriptures, in truth and faith and love, which are in Christ Jesus - for many.

Page 2

Trustees' Report

Derek Prince Ministries Today

Derek Prince passed away in 2003, but the ministry continues to expand on a worldwide basis, currently comprising of 11 national offices that provide teaching materials and raise funds for DPM outreaches.

Outreach offices are also located in many other countries including Armenia, Bulgaria, Croatia, Czech Republic, Denmark, Egypt, Estonia, Fiji, Hungary, India, Indonesia, Israel, Malaysia, Myanmar, Nepal, Papua New Guinea, Poland, Romania, Russia, Samoa, Serbia, Singapore, Slovakia, Slovenia, Solomon Islands, Turkey, Ukraine, Vanuatu, Zimbabwe.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of Derek Prince Ministries (UK) as set out in the founding Deed of Trust are the advancement of the Christian religion throughout the world by whatever legally charitable means the Trustees shall in their discretion think fit. Specifically, our primary objective is to place Derek Prince's Bible teaching resources into the hands of those who want them. We distribute through as many channels and media formats as possible, and in the language, that is required within a territory.

Outreach projects are focused on the translation, production and distribution of books, audio/video Bible teaching and digital platforms such as websites and YouTube. There are also many radio and television broadcasts of Derek Prince messages, Bible study courses and resources made available through the internet and electronic media.

Public benefit

The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

DPM (UK) uses printed word, the internet and other forms of electronic media to change lives for the good in spiritual, moral and practical ways which demonstrate the Christian faith. The publications promote the Gospel and reinforce Christian values. The benefits are clear, identifiable and related to the aim of advancing the Christian religion.

There is no express geographical restriction to the opportunity to benefit and our governing document does not contain any religious restrictions on who may benefit from the services of DPM (UK).

DPM (UK) also has a programme that provides free Bible teaching to prison inmates on a regular basis.

The charity sets the price of publications and audios, so that they are affordable by most people. For those unable to pay, there are a range of resources that can be obtained free of charge such as complimentary edition books, proclamation cards and teaching distributed through YouTube, podcast platforms, websites and an app.

Page 3

Trustees' Report

Fundraising

The UK office sends direct mail and email fundraising appeals to generate income for DPM outreach around the world. The outreach priorities are agreed at the annual international directors' meeting, and each National Office commits to raising funds for these specified outreaches during the following calendar year.

Details of the appeal are sent to those individuals and groups on our mailing list. As well as being given the opportunity to contribute to these projects should they so wish, supporters are also kept informed of progress, new opportunities and prayer requests. The gifts we receive are then directed to the appropriate DPM office that is responsible for the oversight of the outreach.

Outreach

Africa Outreach

In many ways our outreach to Africa began well before the wider ministry was formally established in 1971. Some 14 years earlier, Derek and Lydia Prince responded to the call of God and migrated to Kenya, where they diligently served as missionaries for five years. During this time, their love for the local people grew and flourished, paving the way for today’s outreach and ardent Bible teaching efforts.

To this day, Derek Prince Ministries remains firmly committed to serving the people of Africa through practical faith initiatives that reach the unreached and teach the untaught.

Throughout the years Derek Prince travelled extensively to Africa, visiting Ghana, Kenya, Zambia, Zimbabwe, and South Africa. An office was established in Pretoria, South Africa in 1984, and more offices followed, particularly in the last decade.

Today, we have representatives in Burundi, the Democratic Republic of Congo, Ethiopia, Ghana, Kenya, Madagascar, Malawi, Nigeria, Rwanda, South Africa, Tanzania, Uganda, and Zimbabwe.

The translation of Derek Prince teaching material into multiple languages has always been an essential task for the ministry. Popular books, such as They Shall Expel Demons, Blessing or Curse: You Can Choose, and Foundations for Life have been printed for local distribution in Swahili, Kinyarwanda, Kirundi, and French. In addition, the translation of Derek Prince Teaching Letters now totals 19 African languages, and we continue to make this available online for free download.

Readers are so grateful to receive this material in their mother-tongue, particularly where Bible teaching is scarce. For many, these translations provide a first-time understanding of God’s Word and the results are life-changing.

China Outreach

Derek Prince’s ministry in China really is making a difference as we approach our fourth decade of service to brothers and sisters there. The outreach into China began in 1984. Ross Paterson, a fluent Mandarin speaker who had served in Taiwan for ten years and had then into China, heard the Lord tell him to “take Derek Prince’s teaching to China”.

Page 6

Trustees' Report

Ross approached Derek, who readily gave his permission and his blessing. Today the office is based in Singapore. To make the teaching more acceptable to the Chinese Derek was given the name Ye Guang-Ming, meaning Clear Light.

The target of the Derek Prince Ministries China outreach is twofold: to raise up prayer for the church in China and for the nation itself; and secondly to serve China’s church by putting Derek’s anointed Bible teaching into the hands of as many believers as possible. China’s church has been described as a lake that is a mile wide and four inches deep, so the vision of the ministry is by any means that we can to strengthen China's believers in their faith.

One specific new approach to recent clampdowns in China is to put as much as we possibly can of Derek’s materials on to USB devices, then to distribute them to as many leaders and Christians of influence as we can. Given that China’s clampdown is growing rather than decreasing, it is possible there could be a day when it will be very hard to get materials into China. Thus the China team want to take as much of Derek’s teaching as we can and put them on to these USB-based libraries. There will be PDF copies of Derek’s books in Chinese, as well as multiple MP3 programmes, taken from the previous radio materials, and audiovisual materials either audio-dubbed into Chinese or with subtitles. Thus if there should come a day when it was risky for some leaders to go online to get teaching materials, they would not have to do that. They would possess these USB libraries. The devices can be used in a computer or through a connecting device on mobile phones.

The hostility that the church in China faces in the current season reinforces our passion to reach out and serve the Chinese church. A major reason for that is the ongoing requests from our team inside China that we at this time supply as many materials as we possibly can. We are responding to their amazing devotion to the Lord, as they print and distribute the materials or the USB devices. The online team is constantly encouraged by the uptake in responses to Derek’s materials.

Former Soviet Union Outreach

For more than 30 years Derek Prince Ministries have reached out to the Russian speaking world with Bible teaching from Derek Prince. During his lifetime, Derek Prince fell in love with Russian-speaking believers from around the world and his translated books became very popular.

Today Derek's teaching is widely known across the former Soviet Union. Many churches, communities and denominations from Estonia to Central Asia, from Armenia to Russia have received a great blessing from the service of DPM. Even after the death of Derek Prince, his ministry has not ceased, but rather it continues to spread.

We have offices in Moscow, Armenia, Belarus, Estonia and Ukraine.

Our Russian language website (www.derekprince.ru) encourages believers around the world. Every day a short devotional message from Derek Prince is published, as well as Bible verses, proclamations and prayers. The site also gives the opportunity to purchase Derek’s books in Russian, and watch and listen to his teaching.

Many book titles have been printed and distributed during the current year and further reprinting of material is underway, to respond to the ongoing demand. In addition to Russian we also print in Ukrainian, Armenian, Georgian, Azeri and Estonian languages.

Page 6

Trustees' Report

We make teaching material available for digital download from our Russian website and other regional websites. We have developed Facebook pages and upload material to YouTube for free streaming.

Eastern Europe Outreach

Derek Prince Ministries established an office in Holland in 1989 to pursue new opportunities for serving the Church in Eastern Europe. We began to make the life-changing Bible teachings of Derek Prince available to the Netherlands and other parts of Europe.

These were challenging times because years of Communist rule in parts of Europe had taken a social and economic toll on thousands of Christians – yet exciting times because, thanks to the generosity of supporters, we were able to offer them Bible-based discipleship resources.

The continued support grew, and our outreach in Eastern Europe quickly became a key player in the region. Along with our office in Holland, outreaches sprang up in Bulgaria, Croatia, Albania, Romania, Serbia, Poland, Hungary, the Czech Republic, Slovakia and Slovenia.

We helped thousands of local churches minister God’s life-changing Word to many who had been rendered hopeless, disillusioned, and impoverished by decades of Communist rule.

Thousands of Christians across Eastern Europe still face many challenges. The top challenge is lack of sound Bible teaching, “the whole counsel of God”, not just teaching on selected topics. Another challenge is busyness with life, work or family that often hinders Christians from digging deeper into God’s Word and growing strong in their faith. Other issues include struggling with poverty, divorce and ignorance of God’s calling and purposes for their lives.

Derek Prince Ministries Eastern Europe is responding to these challenges by making more of Derek’s foundational Bible teaching available in both print and online. Also, our workers are hosting more training events and conferences (when able) on practical topics like the marriage covenant, how to be a good husband and father, how to manage finances well and much more.

Outreach Initiative

This was a fund established under the name Outreach Opportunity fund to provide funds that could be used at the charity’s discretion. The Fund was renamed Outreach Initiative and now appears under the list of restricted funds.

Indian Subcontinent Outreach

The Derek Prince Ministries outreach to the Indian subcontinent was birthed in 1997, a couple of months before Derek Prince visited the region for a huge pastors and leaders conference in Hyderabad, India. The main need at that time was to print Derek’s books in India and in Indian languages to be distributed amongst the leadership of the church which needed clear and sound Biblical based doctrine. The Foundation Series was the first book to be printed and released at Derek’s conference in Hyderabad.

Page 6

Trustees' Report

Our outreach to the Indian subcontinent began with translating and printing Derek’s books into several Indian languages. The books were distributed through various partner ministries. But probably the biggest impact was created by the Graduate Gift Program that was launched by Derek Prince Ministries India in 2000, wherein every year students of various Bible colleges all over India have received a “gift pack” of Derek’s books in their own languages when they graduated from Bible College. Over 150,000 Bible college graduates have received these materials over the last two decades.

Our focus has always been to reach the leadership as through them we can impact a larger number of people. Secondly, India is a land of varied cultures – every one of the 28 states has a different language and culture. Therefore, there is the need to take the teaching to the people of those states in a culturally sensitive manner. So, putting the teaching and resources into the hands of the leaders helps to translate it into a culture specific and culturally sensitive form – for greater impact.

In more recent years we have seen an intense growth in the persecution of the church in India and therefore it becomes even more important that we put the teaching quickly and efficiently into the hands of as many leaders as possible. This definitely helps strengthen the leadership and through them, the believers, helping them stand in the face of all adversity.

During the COVID lockdown period, one pastor said to us, “Thanks for the teaching and the resources you seeded in our lives. During this very depressing phase of lockdown, that was exactly what brought us hope and helped us instill hope in the hearts of our church believers – many of whom were actually beginning to lose hope and break under the weight of their fears.”

Until the next generation of “digitally educated” Indian Christian leaders arise, our greatest challenge is also in getting the regional language pastors to use the resources we have online. And so we must use the resources in every possible format so that leaders from every background – educated, uneducated, privileged and underprivileged – can have and use them. Our desire, vision and goal are to see a glorious, beautifully adorned, mature Church arise to her fullness in India and we believe that Derek Prince Ministries has a great part and responsibility in this!

Israel Outreach

In 2003, Derek Prince Israel began under the leadership of George and Betty Jackson from the US, who have an office in Jerusalem. This area of ministry involves the translation and printing of Derek's books into Hebrew for wide distribution in Israel. Material is also made available through a Hebrew language website - www.dpi.co.il as well as in English at www.dpisrael.com. There are a large number of Russian speaking immigrants in Israel and we broadcast our Russian language programmes locally as well as providing Russian books to the Church.

In mid-2022, a new partnership was launched between DPM and Christian Friends of Israel (CFI) uniting our strengths to provide the Body of Christ in Israel with Derek’s resources in multiple languages. Thanks to a personal relationship with Derek, the CFI ministry looks forward to assisting wherever possible with distributing these resources.

Page 9

Trustees' Report

Middle East Outreach

Through Derek Prince Ministries Middle East outreach, 17 countries are served the Word of God and the teaching of Derek Prince. These countries are Iraq, Syria, Jordan, Lebanon, Saudi Arabia, Qatar, Bahrain, UAE, Oman, Yemen, Morocco, Mauritania, Algeria, Tunisia, Libya, Egypt, Sudan, and South Sudan. Although we serve all these nations, communication isn’t one of the main obstacles. That is due to the fact that there are more than 300 Million Arabic speaking tongues in the region, in addition to some other ethnicities and minorities.

Arabic covers about 85% of the Nations we serve. Sorani, a language spoken by the Kurds, mainly in the North of Iraq. Tamazight, for the Amazigh people in the North of Africa. English is used as well in some cases for some regions as it is the most common second language among people in the Gulf area for instance and in South Sudan.

We have regular outreach trips to many countries in the region to find the needs and meet them. Some of the visited countries are Iraq, Lebanon, Jordan, UAE, Tunisia, South Sudan, Morocco, Mauritania, and other Arabic churches in Europe.

We support ministries/churches by sending materials and teaching resources in their languages. These materials can be in different forms, such as books or USB Flash Drives/SD Cards loaded with the Bible and Derek’s content.

In recent years we have seen a great increase in the demand for our materials in this region, particularly in the Arabic language. With the popularity of satellite television across the region, alongside the challenge of distributing Christian material in nations where believers suffer persecution for their faith, our strategic goal has been to develop lip synchronised video messages for broadcast on satellite TV with the potential to impact many millions of lives.

UK Outreach

The UK office provide an internet and mail order facility to make the wide range of Derek Prince resources available to our constituency. This primarily takes the form of books, audios and videos of Derek's teaching.

We seek to cultivate relationships with individuals, churches and other Christian organisations aiming to bring the teaching of Derek Prince to a new audience.

The material is distributed digitally via websites, online media channels, podcast platforms and an app.

We issue a regular magazine called DPM World, free of charge to our mailing list. This publication contains Bible based teaching is a source of encouragement and free teaching materials are made available for distribution.

Prison Ministry - The Inside Outreach programme in the UK makes a healthy diet of free Bible teaching available to prisoners on a regular basis. We also assist chaplains in their ministry by giving them the DPM materials they would like to use with inmates, or to place in their prison libraries.

Widows, Orphans, Poor and Oppressed - Bible teaching material is the primary focus of our work around the world. However, from time to time areas of practical need are brought to our attention through co-workers in the field. On occasions, we are able to assist in practical ways to help relieve poverty and suffering.

Page 9

Trustees' Report

Other Funds

Smaller restricted funds held by the UK office are comprised of Latin America, South East Asia, Broadcasting, and Ethiopia.

Designated Funds

Where Most Needed

This is a fund established to accumulate donations where the donor has not specified which worldwide outreach they would like their gift to be used by the charity. The fund is available for the charity to direct to the DPM outreach most in need of finance.

Derek Prince Digital

This is our digital outreach and we have assembled a specialist team to serve our global ministry. With a world of information available at our fingertips, there’s never been a greater need for sound biblical teaching online. The digital ecosystem is fraught with misinformation and all manner of corruption, and unless the church is willing to engage it many will be led astray. Sadly, untold numbers already have.

It’s estimated Google, the world’s largest search engine, processes over 70,000 queries every second. That’s about 5.8 billion searches per day and two trillion searches per year. These are colossal figures that require more than a passing glance to gasp and comprehend the magnitude of the challenge before us.

People are seeking answers to life’s questions and today this journey often begins and ends online. Whether it’s a video, podcast, article or app, the prevalence of material available means people will find content to solve their curiosity, but it won’t necessarily be accurate. The spiritually hungry are often presented with falsehoods and malicious content designed to mislead, and Derek Prince Ministries has an essential role to play to correct this deception. Moreover, we can educate and disciple believers anywhere in the world to maturity in Christ, through technology and digital communication channels.

Page 9

Trustees' Report

FINANCIAL REVIEW

Financial Results

Total incoming resources for the year ending 30 June 2022 were £660,323 (2021: £897,457) this represents a 27% decrease from the previous reporting period. After deducting resources expended of £1,132,858 (2021: £866,182) this resulted in a deficit of -£472,535 (2020: -£113,165).

Balance Sheet

The net assets of the charity at 30 June 2022 were £2,566,237 (2021:2,694,087).

Reserves policy

The charity is largely funded by donations from individuals, and therefore its income is vulnerable to economic factors outside its control. The Trustees therefore feel it is important to establish a prudent reserves policy of between six months and twelve months expenditure to be covered by free reserves. At 30 June 2022 the charity's unrestricted reserves, (not represented by fixed assets) stood at £903,461 (2021: £891,345) which covers twelve months (2021: twelve months) of expenditure.

Appointment of new trustees

The existing Board of Trustees are responsible for the appointment of any new trustees, and no outside parties are involved in this process. It is sought, to maintain that a broad range of skills and expertise are represented on the board. Prospective trustees are usually identified through a long-standing knowledge and support of the charity or by being known personally to the existing Trustees. They will normally be invited to serve in the capacity of a board advisor for 12 months, to further assess their suitability for the role, and to allow them to become acquainted with the trustee function. Upon completion of this, an invitation to join the board will sometimes follow or they may continue to serve in the role of an advisor.

Page 9

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 19 November 2022 and signed on its behalf by:

......................................... R Kolaneci Trustee

Page 10

Independent Examiner's Report to the trustees of DEREK PRINCE MINISTRIES (UK)

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2022 which are set out on pages 12 to 22.

Respective responsibilities of trustees and examiner

As the charity’s trustees of DEREK PRINCE MINISTRIES (UK) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the DEREK PRINCE MINISTRIES (UK)'s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since DEREK PRINCE MINISTRIES (UK)'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 The Chartered Institute of Management Accountants UK, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of DEREK PRINCE MINISTRIES (UK) as required by section 130 of the Act; or

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

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

...................................... Kolade Andrew Alli ACMA

KARE Financial Management Consultants Ltd 10 Gatcombe Gardens West End, Hampshire SO18 3NA

Page 11

Statement of Financial Activities for the Year Ended 30 June 2022

Statement of Financial Activities for the Year Ended 30 June 2022 Statement of Financial Activities for the Year Ended 30 June 2022
Unrestricted
funds
Restricted
funds
Total
2022
Total
2021
Note
£
£
£
£
Income and Endowments from:
Charitable activities 488,346
171,977
660,323
897,547
Expenditure on:
Charitable activities (789,684)
(343,174)
(1,132,858)
(866,182)
Total expenditure
(789,684)
(343,174)
(1,132,858)
(866,182)
Net
(expenditure)/income (301,338)
(171,197)
(472,535)
31,365
Gross transfers between
funds 193,484
151,201
344,685
220,641
Net movement in funds
(107,854)
(19,996)
(127,850)
252,006
Reconciliation of funds
Total funds brought
forward 2,479,620
214,467
2,694,087
2,442,081
Total funds carried
forward
14		 2,371,766
194,471
2,566,237
2,694,087

All of the charity's activities derive from continuing operations during the above two periods.

The funds breakdown for 2021 is shown in note 14.

Page 12

(Registration number: 1123283) Balance Sheet as at 30 June 2022

(Registration number: 1123283)
Balance Sheet as at 30 June 2022		 (Registration number: 1123283)
Balance Sheet as at 30 June 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
7		 315,986
322,675
Current assets
Stocks
8		 4,067
10,213
Debtors
9		 65,953
33,793
Investments
10		 1,190,745
1,348,789
Cash at bank and in hand
11		 1,097,956
1,031,392
2,358,721
2,424,187
Creditors: Amounts falling due within oneyear
12
(49,384)
(52,775)
Net currentassets
2,309,337
2,371,412
Total assets less current liabilities
2,625,323
2,694,087
Creditors: Amounts falling due after more than

oneyear
13		 (59,086)
-
Netassets
2,566,237
2,694,087
Funds of the charity:
Total funds
14
2,566,237
2,694,087

The financial statements on pages 12 to 22 were approved by the trustees, and authorised for issue on 19 November 2022 and signed on their behalf by:

......................................... R Kolaneci Trustee

Page 13

Notes to the Financial Statements for the Year Ended 30 June 2022

1 Accounting policies

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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

DEREK PRINCE MINISTRIES (UK) 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.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

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. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

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.

Page 14

Notes to the Financial Statements for the Year Ended 30 June 2022

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 £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Current asset investments

Current asset investments are included at the lower of cost and net realisable value / market value.

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).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

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.

Page 15

Notes to the Financial Statements for the Year Ended 30 June 2022

Trade creditors

are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

2 Income from charitable activities

2
Income from charitable activities		 2
Income from charitable activities
Unrestricted
funds
Restricted
Total
Total
General
funds
2022
2021
£
£
£
£
Donations & Gift Aid Income
508,969
171,977
680,946
560,519
Legacies 11,400
-
11,400
-
Sales 40,637
-
40,637
45,482
Other Income 64,738
-
64,738
41,658
Legacies -
-
-
27,326
Interest/Dividends/Gain on
Investment (152,631)
-
(152,631)
207,102
Property Management
Income 15,233
-
15,233
15,460
488,346
171,977
660,323
897,547

Page 16

Notes to the Financial Statements for the Year Ended 30 June 2022

3 Expenditure on charitable activities

Unrestricted
funds
Restricted
Total
Total
General
funds
2022
2021
£
£
£
£
Advertising / Promotion 28,678
11,450
40,128
49,420
Bank Charges/Mortgage
Interest 9,468
2,591
12,059
12,762
Property Management
Expenses 2,219
-
2,219
789
Rent-Lease 9,353
-
9,353
4,749
Cost of Goods Sold 39,656
113
39,769
43,278
Operational Expenditure 379,740
11,408
393,648
287,417
Outreach Support 22,951
264,584
287,535
203,898
Payroll 195,678
47,722
243,400
221,992
Professional Fees and
Insurance 6,152
-
6,152
5,154
Travel & Accommodation 8,290
-
8,290
629
Web-IT Costs 84,999
5,306
90,305
33,594
Independent examiner's fee 2,500
-
2,500
2,500
789,684
343,174
1,132,858
866,182

Page 17

Notes to the Financial Statements for the Year Ended 30 June 2022

4 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

Neil Cornick

Neil Cornick received remuneration of £81,166 (2021: £78,385) during the year for services provided as full time UK Director of DPM (UK) and reimbursement of £25,724 (2021: £25,724) was received from DPM International in respect of work carried out for DPM International.

Redina Kolaneci

Redina Kolaneci provides fundraising services to DPM (UK) through Christian Fundraising Consultancy and received £22,800 (2021: £22,800).

5 Staff

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full-time equivalents was as follows:

2022
2021
No
No
Average no of employees 5
5

All (2021 - 5) of the above employees participated in the Defined Contribution Pension Schemes.

Page 18

Notes to the Financial Statements for the Year Ended 30 June 2022

6 Taxation

The charity is a registered charity and is therefore exempt from taxation.

7 Tangible fixed assets

7
Tangible fixed assets		 7
Tangible fixed assets
Land and
buildings
Furniture
and
equipment
Total

£

£
£
Cost
At 1 July 2021
308,554
50,745
359,299
Additions
-
2,079
2,079
At 30 June 2022
308,554
52,824
361,378
Depreciation
At 1 July 2021
-
37,998
37,998
Charge for theyear
-
7,394
7,394
At 30 June 2022
-
45,392
45,392
Net book value
At 30 June 2022
308,554
7,432
315,986
At 30 June 2021
308,554
12,747
321,301
8
Stock
2022
2021
£
£
Stocks 4,067
10,213
9
Debtors
2022
2021
£
£
Trade debtors -
16,725
Prepayments -
2,000
Other debtors 65,953
15,068
65,953
33,793
10 Current asset investments
2022
2021
£
£
Cash deposits 1,190,745
1,348,789

Page 19

Notes to the Financial Statements for the Year Ended 30 June 2022

Notes to the Financial Statements for the Year Ended 30 June
2022		 Notes to the Financial Statements for the Year Ended 30 June
2022
11 Cash and cash equivalents
2022
2021
£
£
Cash at bank
1,097,956
1,031,392
12 Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
-
24,488
Other creditors
-
2,728
Accruals
49,384
25,559
49,384
52,775
13 Creditors: amounts falling due after one year
2022
£
Trade creditors 59,086

Page 20

Notes to the Financial Statements for the Year Ended 30 June 2022

14 Funds

14 Funds
Balance at
Incoming
Resources
Balance at
30 June
1 July 2021
resources
expended
Transfers
2022

£
£

£
£
£
Unrestricted funds
General
General fund 2,379,275
355,898
(526,523)
(45)
2,208,605
General Appeal -
40
(4)
-
36
Where Most Needed 14,260
14,689
(1,469)
-
27,480
Digital Outreach 117,302
117,719
(261,689)
162,313
135,645
2,510,837
488,346
(789,685)
162,268
2,371,766
Restricted funds
30x13 823
-
75
(898)
-
Africa 7,752
7,790
(9,393)
305
6,454
China 157
40,630
(48,082)
10,251
2,956
Eastern Europe -
12,507
(13,953)
2,067
621
India -
7,449
(7,848)
2,306
1,907
Israel 16,483
16,725
(30,995)
-
2,213
Middle East 101,519
27,206
(156,081)
160,777
133,421
Other 15,212
2,920
(4,811)
4,148
17,469
Outreach Initiative 2,356
160
235
897
3,648
Former Soviet Union 989
26,954
(28,361)
2,483
2,065
UK Outreach 37,959
29,637
(43,961)
82
23,717
Total restricted funds
183,250
171,978
(343,175)
182,418
194,471
Total funds
2,694,087
660,324
(1,132,860)
344,686
2,566,237

Page 21

Notes to the Financial Statements for the Year Ended 30 June 2022

2022
Balance at
Incoming
Resources
Balance at
30 June
1 July 2020
resources
expended
Transfers
2021

£
£

£
£
£
Unrestricted funds
General
General fund 2,169,575
715,246
(474,177)
(31,369)
2,379,275
General Appeal -
367
(2,515)
2,148
-
Where Most Needed 1,015
39,779
(3,978)
(22,556)
14,260
Digital Outreach 125,546
29,497
(116,381)
78,640
117,302
2,296,136
784,889
(597,051)
26,863
2,510,837
Restricted funds
30x13 780
50
(7)
-
823
Africa 1,160
7,038
(446)
-
7,752
China -
14,938
(21,916)
7,135
157
Eastern Europe -
8,847
(13,211)
4,364
-
India -
2,838
(11,429)
8,591
-
Israel 16,873
14,168
(14,558)
-
16,483
Middle East 97,633
20,752
(132,713)
115,847
101,519
Other 7,417
4,338
(2,728)
6,185
15,212
Outreach Initiative 1,317
-
(194)
1,233
2,356
Former Soviet Union -
10,352
(38,790)
29,427
989
UK Outreach 20,766
29,337
(33,140)
20,996
37,959
Total restricted funds
145,946
112,658
(269,132)
193,778
183,250
Total funds
2,442,082
897,547
(866,183)
220,641
2,694,087

Page 22