Charity number: 1123283
DEREK PRINCE MINISTRIES (UK)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
DEREK PRINCE MINISTRIES (UK)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 9 |
| Independent Examiner's Report | 10 - 11 |
| Statement of Financial Activities | 12 |
| Balance Sheet | 13 |
| Statement of Cash Flows | 14 |
| Notes to the Financial Statements | 15 - 22 |
DEREK PRINCE MINISTRIES (UK)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2023
Trustees P Lord RD Paterson M DeVito R Kolaneci N Cornick Charity registered number 1123283 Principal office PO Box 393 Hitchin SG5 9EU
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.
The Trustees present their annual report together with the financial statements of the DEREK PRINCE MINISTRIES (UK) for the year 1 July 2022 to 30 June 2023.
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 several 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.
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DEREK PRINCE MINISTRIES (UK)
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2023
Derek Prince Ministries today
Derek Prince passed away in 2003, but the ministry continues to expand on a worldwide basis, currently comprising 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, Italy, 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 languages desired.
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
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
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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 resources at an affordable level. For those unable to pay, there are a range of resources that can be freely obtained free such as complimentary edition books, proclamation cards and teaching distributed through YouTube, podcast platforms, websites, and an app.
Fundraising
The UK office engages in targeted direct mail and email campaigns to gather support for DPM's global outreach efforts. These efforts are meticulously planned: the outreach priorities are collaboratively determined at the annual meeting of international directors, ensuring a unified approach. Following this meeting, each National Office takes on the responsibility of securing funds for these agreed-upon initiatives.
To this end, we communicate with our dedicated community of individuals and groups, with detailed information about these appeals. This communication not only offers them a chance to financially support these projects but also keeps them in the loop about the progress of ongoing efforts, emerging opportunities, and prayer needs. Every contribution we receive is directed to the specific DPM office tasked with managing the outreach in question, ensuring that the support provided goes directly towards making a tangible impact.
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DEREK PRINCE MINISTRIES (UK)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023
OUTREACH
Africa Outreach
The roots of our outreach in Africa trace back to an era before the official establishment of Derek Prince Ministries in 1971. It all started in 1957 when Derek and Lydia Prince responded to the call of God, moving to Kenya to serve as missionaries for five years. Their time in Africa was transformative, fostering a deep affection for the local communities and laying the groundwork for what would evolve into a significant ministry focus on passionate Bible teaching and outreach in the continent.
Derek Prince Ministries continues this legacy with a steadfast dedication to advancing the spiritual welfare of African communities. Our efforts are centered on extending practical faith-based initiatives to those who have yet to hear the Gospel and providing biblical education to those who have not yet received it.
Derek Prince was a frequent traveler to the African continent, making significant visits to countries including Ghana, Kenya, Zambia, Zimbabwe, and South Africa. The establishment of a ministry office in Pretoria, South Africa, in 1984 marked the beginning of a growing presence on the continent. Over the last decade, we have expanded dramatically, now boasting representatives in numerous African nations such as Burundi, the Democratic Republic of Congo, Ethiopia, Ghana, Kenya, Madagascar, Malawi, Nigeria, Rwanda, South Africa, Tanzania, Uganda, and Zimbabwe.
A cornerstone of our ministry has been the translation and distribution of Derek Prince's teaching materials into multiple languages. We prioritize making these teachings accessible, with popular works like "They Shall Expel Demons," "Blessing or Curse: You Can Choose," and "Foundations for Life" being widely distributed in languages such as Swahili, Kinyarwanda, Kirundi, and French. Furthermore, the number of African languages into which Derek Prince's Teaching Letters have been translated now reaches 19, with these resources available for free download online.
The impact of making these materials available in local languages cannot be overstated. In regions where access to biblical teaching is limited, the ability to read and understand these teachings in one's mother tongue is profoundly transformative, offering many their first deep insights into the Word of God and leading to life-changing experiences.
China Outreach
Derek Prince’s ministry in China 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”. 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 GuangMing, 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
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DEREK PRINCE MINISTRIES (UK)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023
In response to the intensifying restrictions in China, Derek Prince Ministries has adopted an innovative strategy to continue supporting the Christian community there. Recognizing the increasing difficulty of distributing religious materials due to governmental clampdowns, the ministry is now focusing on transferring Derek Prince's teachings onto USB devices. This approach is designed to ensure that Christian leaders and influential members of the community have uninterrupted access to valuable spiritual resources.
The USB drives are loaded with a wealth of Derek Prince's materials, including PDF versions of his books translated into Chinese, numerous MP3 recordings derived from his radio broadcasts, and video materials that are either audio-dubbed in Chinese or subtitled. This digital library offers a robust solution for a time when accessing such materials online may become perilously difficult or impossible due to government restrictions.
The move to distribute teachings via USB is driven by a pressing need to equip the Chinese Christian community with enduring access to theological education and encouragement. It is a direct response to the growing challenges faced by the church in China, as well as a testament to the local team's remarkable commitment to disseminating spiritual teachings. Their efforts to print and distribute both physical materials and these digital libraries underscore a profound dedication to nurturing faith amidst adversity.
This initiative not only reflects the ministry's adaptability but also its deep commitment to serving the Chinese church during this challenging period. The positive reception and demand for Derek Prince's teachings, as reported by the online team, highlight the significant impact and ongoing need for such resources within the Chinese Christian community.
Former Soviet Republics Outreach
For over three decades, Derek Prince Ministries has been a key source of Bible teaching for the Russianspeaking world, demonstrating a steadfast commitment that began during Derek Prince's own lifetime. Derek Prince developed a deep affection for Russian-speaking believers globally, and his books, once translated, quickly found a place of significance among them.
Today, among believers, Derek Prince's teachings are a household name across the vast expanse of the former Soviet Union, touching lives from Estonia to Central Asia, and from Armenia to Russia. His legacy continues to flourish, bringing spiritual enrichment to a wide array of churches, communities, and denominations even years after his passing.
DPM has established a significant presence in the region, with offices strategically located in Moscow, Armenia, Belarus, and Estonia. These bases enable us to effectively disseminate Derek's teachings and engage with the local communities.
Our dedicated Russian language website, www.derekprince.ru, serves as a spiritual haven for believers worldwide, offering daily devotional messages from Derek Prince, alongside Bible verses, proclamations, and prayers. It also provides an avenue to purchase Derek’s books in Russian, and to access his teachings through videos and audio recordings.
The demand for Derek Prince's materials continues to grow, prompting us to not only reprint many book titles during the current year but also to ensure that these resources are available in other languages including, Armenian, Georgian, Azeri, Tadjik and Estonian. We're committed to making Derek's teachings as accessible as possible, offering digital downloads from our Russian and other regional websites.
In our effort to reach even broader audiences, we have embraced social media and digital platforms, developing Facebook pages and uploading materials to YouTube for free streaming. This multi-channel approach ensures that Derek Prince's timeless teachings continue to inspire and guide the Russian-speaking Christian community worldwide.
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DEREK PRINCE MINISTRIES (UK)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023
Eastern Europe Outreach
The establishment of a Derek Prince Ministries office in Holland in 1989 was a strategic move aimed at broadening its mission to provide life-transforming Bible teachings to the Netherlands and further into Eastern Europe.
This period was marked by a unique combination of challenges and opportunities. Decades of Communist dominance had left a deep social and economic impact on thousands of Christians in the region, yet the situation was ripe with potential for spiritual renewal, thanks to the support of generous donors who enabled the ministry to supply vital Bible-based discipleship resources.
The support from these donors not only continued but flourished, enabling Derek Prince Ministries to quickly become a significant force in Eastern Europe. The expansion included the creation of outreaches in Bulgaria, Croatia, Albania, Romania, Serbia, Poland, Hungary, the Czech Republic, Slovakia, and Slovenia, reinforcing the ministry's impact across the region.
These efforts were instrumental in providing countless local churches with the resources to minister God's transformative Word to communities that had been left feeling hopeless and impoverished after years under Communist rule.
Despite the progress made, Christians in Eastern Europe continue to face a myriad of challenges. Chief among these is the lack of comprehensive Bible teaching that encompasses "the whole counsel of God," rather than merely focusing on selected topics. Additionally, the daily pressures of life, work, and family responsibilities often prevent believers from engaging deeply with Scripture and strengthening their faith. Other prevalent issues include poverty, divorce, and a general unawareness of God's calling and purposes for their lives.
In response to these ongoing needs, Derek Prince Ministries Eastern Europe is intensifying its efforts to make Derek Prince's foundational Bible teachings more accessible, both in print and online. The ministry is also increasing the number of training events and conferences it hosts, covering practical subjects such as understanding the marriage covenant, becoming a good husband and father, effective financial management, and more. Through these initiatives, Derek Prince Ministries aims to equip and empower Christians across Eastern Europe to navigate their challenges and grow in their faith and daily lives.
More recently the outreach in Ukraine has come under the oversight of the Eastern Europe leadership team. This move aims to improve how Derek Prince Ministries works in the area, making sure efforts are wellcoordinated and more effective particularly in the light of the ongoing conflict with Russia. The ministry has a strong commitment to supporting and growing the Christian community in Ukraine with Bible teaching resources.
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
Derek Prince Ministries began its work in the Indian subcontinent in 1997, just before Derek Prince himself visited for a large conference in Hyderabad, India. The main aim was to print and distribute Derek's books in Indian languages to church leaders needing solid, Bible-based teachings. The first book made available was the Foundation Series, launched at the Hyderabad conference. The outreach effort focused on translating Derek’s books into various Indian languages and distributing them, especially through the Graduate Gift Program started in 2000. This program gifts packs of Derek’s books to Bible college graduates across India, benefiting over 150,000 graduates in two decades.
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DEREK PRINCE MINISTRIES (UK)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023
The ministry’s strategy targets church leaders, aiming to make a broader impact through them. Given India’s diverse cultures and languages across its 28 states, presenting teachings in culturally relevant ways is crucial for effectiveness. This approach is particularly important as the church in India faces growing persecution, making it essential to equip leaders swiftly and effectively to support their congregations through challenging times.
Looking forward, a significant challenge remains in encouraging regional language pastors to utilize online resources. The goal of Derek Prince Ministries is to contribute to the growth and maturity of the Church in India, catering to leaders from all walks of life until a new generation of digitally savvy Christian leaders emerges.
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.
Middle East Outreach
Derek Prince Ministries' Middle East outreach is an expansive operation, delivering the teachings of Derek Prince and the Word of God to 17 countries across the region. This list encompasses a diverse range of nations including Iraq, Syria, Jordan, Lebanon, Saudi Arabia, Qatar, Bahrain, the United Arab Emirates, Oman, Yemen, Morocco, Mauritania, Algeria, Tunisia, Libya, Egypt, Sudan, and South Sudan.
Our ability to serve this region is greatly helped because there are more than 300 million Arabic speakers, covering 85% of the population. This linguistic commonality ensures that Derek Prince Ministries can effectively reach a wide audience without the complications of dealing with multiple languages.
However, in addition to Arabic, we do produce resources in Sorani, a language spoken by the Kurds, mainly in the North of Iraq, and Tamazight, for the Amazigh people in the North of Africa. English is also widely spoken and is the most common second language among people in the Gulf and in South Sudan for example.
Derek Prince Ministries actively engages in outreach missions across the Middle East and even extends its efforts to Arabic-speaking communities in Europe. Countries such as Iraq, Lebanon, Jordan, the United Arab Emirates, Tunisia, South Sudan, Lebanon and Morocco, are regular destinations for these trips. The primary objective of these visits is to identify the specific needs of local ministries and churches and to provide tailored support to meet these needs.
The support offered by the ministry takes various forms, including the distribution of teaching materials using traditional formats, such as printed books, and also digital media, including USB flash drives and SD cards that contain the Bible and Derek Prince's teachings.
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DEREK PRINCE MINISTRIES (UK)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023
UK Outreach
The UK office seeks to cultivate relationships with individuals, churches and other Christian organisations with the desire to serve our existing constituency as well as aiming to bring the teaching of Derek Prince to a new audience.
We provide a telephone/mail ordering facility, as well as an online shop, to make the wide range of Derek Prince resources available in the form of books, audio and video messages.
The material is also distributed digitally via websites, online media channels, podcast platforms and an app. We produce a regular magazine called DPM World, free of charge to our mailing list. Key book titles are freely made available to our ministry partners for distribution to their own networks and channels.
The UK Outreach fund also includes:
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.
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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 can assist in practical ways to help relieve poverty and suffering.
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Other Funds Smaller restricted funds held by the UK office are comprised of Latin America, Southeast 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
Derek Prince Ministries has 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.
It’s estimated Google, the world’s largest search engine, processes nearly 100,000 queries every second. That’s about 8.5 billion searches per day and three 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.
In an era where the quest for answers to life's profound questions frequently starts and concludes in the digital realm, the vast availability of online content means that individuals often find information that seems to address their questions. However, the accuracy of such information cannot always be guaranteed. The digital landscape is riddled with misinformation and deceptive content, especially on spiritual matters, leading seekers away from the truth. This scenario underscores the critical mission of Derek Prince Ministries to intervene in this sea of misinformation by providing truthful, biblically grounded content.
Derek Prince Ministries is uniquely positioned to leverage technology and digital communication channels to disseminate sound biblical teaching. Through videos, podcasts, articles, and apps, the ministry can offer in-depth biblical education. This digital approach allows for the discipling of believers worldwide, guiding them toward maturity in Christ regardless of their physical location.
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DEREK PRINCE MINISTRIES (UK)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023
FINANCIAL REVIEW
Financial Results
Total incoming resources for the year ending 30 June 2023 were £944,031 (2022: £660,323) this represents a 43% increase from the previous reporting period. After deducting resources expended of £1,263,551 (2022: £1,132,858) this resulted in a deficit of £319,520 (deficit 2022: -£472,535).
Balance Sheet
The net assets of the charity at 30 June 2023 were £2,474,736 (2022: £2,566,237).
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 2023 the charity's unrestricted reserves, (not represented by fixed assets) stood at £877,439 (2022: £989,486) which covers eleven months (2022: fifteen 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.
a. 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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Constitution
DEREK PRINCE MINISTRIES (UK) is a registered charity, number 1123283, and is constituted under a Trust deed.
c. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
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DEREK PRINCE MINISTRIES (UK)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023
Statement of Trustees' responsibilities
The Trustees 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).
The law applicable to charities in England & Wales 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They 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 order of the members of the board of Trustees on 12[th] April 2024 and signed on their behalf by:
R Kolaneci
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DEREK PRINCE MINISTRIES (UK)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2023
Independent Examiner's Report to the Trustees of DEREK PRINCE MINISTRIES (UK) ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Charity'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 Chartered Institute of Management Accountants UK, which is one of the listed bodies.
Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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 applicable 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.
This report is made solely to the Charity'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 Charity'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 Charity and the Charity's Trustees as a body, for my work or for this report.
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DEREK PRINCE MINISTRIES (UK)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023
Signed:
Dated: 12[th] April 2024
Kolade Andrew Alli ACMA
10 Gatcombe Gardens West End, Hampshire SO18 3NA
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DEREK PRINCE MINISTRIES (UK)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023
| Note Income from: Donations and legacies 2 Total income Expenditure on: Charitable activities Total expenditure Net expenditure Transfers 11 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2023 £ 134,216 134,216 264,972 264,972 (130,756) 57,620 (73,136) 194,471 (73,136) 121,335 |
Unrestricted funds 2023 £ 809,815 809,815 998,579 998,579 (188,764) 170,399 (18,365) 2,371,766 (18,365) 2,353,401 |
Total funds 2023 £ 944,031 944,031 1,263,551 1,263,551 (319,520) 228,019 (91,501) 2,566,237 (91,501) 2,474,736 |
Total funds 2022 £ 660,323 660,323 1,132,858 1,132,858 (472,535) 344,685 (127,850) 2,694,087 (127,850) 2,566,237 |
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The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 15 to 22 form part of these financial statements.
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DEREK PRINCE MINISTRIES (UK)
BALANCE SHEET AS AT 30 JUNE 2023
| Fixed assets Note Tangible assets 6 Current assets Stocks 7 Debtors 8 Investments 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 11 Unrestricted funds 11 Total funds |
15,166 34,786 1,111,558 1,047,457 2,208,967 (48,683) |
2023 £ 314,452 314,452 2,160,284 2,474,736 2,474,736 2,474,736 121,335 2,353,401 2,474,736 |
4,067 65,953 1,190,745 1,097,956 2,358,721 (108,470) |
2022 £ 315,986 |
|---|---|---|---|---|
| 315,986 2,250,251 |
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| 2,566,237 | ||||
| 2,566,237 | ||||
| 2,566,237 | ||||
| 194,471 2,371,766 |
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| 2,566,237 |
The financial statements were approved and authorised for issue by the Trustees on 12[th] April 2024 and signed on their behalf by:
R Kolaneci
The notes on pages 15 to 22 form part of these financial statements.
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DEREK PRINCE MINISTRIES (UK)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2023
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Purchase of tangible fixed assets Other cash items from investing activities Net cash provided by investing activities Cash flows from financing activities Other cash items from financing activities Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Change in cash and cash equivalents due to exchange rate movements Cash and cash equivalents at the end of the year |
2023 £ (10,005) (2,056) 24,684 22,628 (62,611) (62,611) (49,988) 1,097,956 (511) 1,047,457 |
2022 £ (3,653) (705) 5,923 5,218 57,012 57,012 58,577 1,035,374 4,005 1,097,956 |
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The notes on pages 15 to 22 form part of these financial statements
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DEREK PRINCE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
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.
1.2 Income
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 income receivable can be measured reliably.
1.3 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.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.4 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
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DEREK PRINCE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
1. Accounting policies (continued)
1.4 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Freehold property - Office equipment - 33%
1.5 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
1.6 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.
1.7 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.
1.8 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 Charity 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 in the Statement of Financial Activities as a finance cost.
1.9 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 Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity 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.
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DEREK PRINCE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
2. Income from donations and legacies
Restricted Unrestricted funds |
Total Total |
||
|---|---|---|---|
| funds General |
2023 2022 |
||
| £ £ |
£ £ |
||
| Donations | 134,199 558,899 |
693,098 680,946 |
|
| Interest/Dividends/Gain on | 0 -12,486 |
-12,486 -152,631 |
|
| Investment | |||
| Legacies | 0 99,193 |
99,193 11,400 |
|
| Other Income | 0 90,024 |
90,024 64,738 |
|
| Property Management | 0 16,372 |
16,372 15,233 |
|
| Sales | 17 57,813 |
57,830 40,637 |
|
| 134,216 809,815 |
944,031 660,323 |
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DEREK PRINCE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
3. Expenditure on charitable activities
| 3. Expenditure on charitable activities |
|||
|---|---|---|---|
| Restricted Unrestricted funds |
Total Total |
||
| funds General |
2023 2022 |
||
| £ £ |
£ £ |
||
| Advertising / Promotion | 7,977 27,279 |
35,256 40,128 |
|
| Bank Charges/Mortgage Interest | 259 24,872 |
25,131 12,051 |
|
| Cost of Goods Sold | 0 38,450 |
38,450 39,769 |
|
| Operational Expenditure | 12,316 523,952 |
536,268 393,648 |
|
| Outreach Support | 186,116 84,828 |
270,944 287,543 |
|
| Payroll | 40,972 217,580 |
258,552 243,400 |
|
| Professional Fees and Insurance | 0 7,589 |
7,589 6,152 |
|
| Property Management | 0 3,439 |
3,439 2,219 |
|
| Rent-Lease | 0 5,215 |
5,215 9,353 |
|
| Travel/Accommodation/Meals | 3,258 36,920 |
40,178 8,290 |
|
| Web-IT Costs | 654 41,875 |
42,529 90,305 |
|
| 264,972 998,579 |
1,263,551 1,132,858 |
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DEREK PRINCE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
4. Independent examiner's remuneration
| Independent examiner's remuneration | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 2,500 | 2,500 |
5. Trustees' remuneration and expenses
Neil Cornick received remuneration of £89,281 (2022: £81,166) during the year for services provided as full time UK Director of DPM (UK) and reimbursement of £25,724 (2022: £25,724) was received from DPM International in respect of work carried out for DPM International.
Redina Kolaneci provides fundraising services to DPM (UK) through Christian Fundraising Consultancy and received £23,700 (2022: £22,800).
6. Tangible fixed assets
| Cost or valuation At 1 July 2022 Additions At 30 June 2023 Depreciation At 1 July 2022 Charge for the year At 30 June 2023 Net book value At 30 June 2023 At 30 June 2022 |
Freehold property £ 308,554 - 308,554 - - - 308,554 308,554 |
Office equipment £ 52,824 2,056 54,880 45,392 3,590 48,982 5,898 7,432 |
Total £ 361,378 2,056 363,434 45,392 3,590 48,982 314,452 315,986 |
|---|---|---|---|
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DEREK PRINCE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
7. Stocks
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Finished goods and goods for resale | 15,166 | 4,067 |
8. Debtors
| Due within one year Other debtors Current asset investments Cash Platform |
2023 £ 34,786 34,786 2023 £ 1,111,558 |
2022 £ 65,953 65,953 2022 £ 1,190,745 |
|---|---|---|
9. Current asset investments
10. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income |
2023 £ 12,901 35,782 48,683 |
2022 £ 59,086 49,384 108,470 |
|---|---|---|
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DEREK PRINCE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
11. Statement of funds
Statement of funds - current year
| Unrestricted funds General fund General Appeal Where Most Needed Digital Outreach Restricted funds Africa China Eastern Europe India Israel Middle East Other Outreach Initiative Former Soviet Union UK Outreach Total of funds |
Balance at 1 July 2022 £ 2,208,605 36 27,480 135,645 2,371,766 6,454 2,956 621 1,907 2,213 133,421 17,469 3,648 2,065 23,717 194,471 2,566,237 |
Income £ 554,151 3,440 9,959 242,265 809,815 4,806 42,882 11,998 3,788 10,453 21,913 346 162 19,699 18,169 134,216 944,031 |
Expenditure £ (596,569) (343) (996) (400,671) (998,579) (128) (45,506) (11,981) (5,527) (2,109) (148,862) (4,487) (199) (23,161) (23,012) (264,972) (1,263,551) |
Transfers in/out £ 14 (1,774) (1,918) 174,077 170,399 - (332) 226 192 - 53,753 6,006 (3,611) 1,397 (11) 57,620 228,019 |
Balance at 30 June 2023 £ 2,166,201 1,359 34,525 151,316 |
|---|---|---|---|---|---|
| 2,353,401 | |||||
| 11,132 - 864 360 10,557 60,225 19,334 - - 18,863 |
|||||
| 121,335 | |||||
| 2,474,736 |
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DEREK PRINCE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
11. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General fund General Appeal Where Most Needed Digital Outreach Restricted funds Africa China Eastern Europe India Israel Middle East Other Outreach Initiative Former Soviet Union UK Outreach Total of funds |
Balance at 1 July 2021 £ 2,379,275 - 14,260 117,302 2,510,837 7,752 157 - - 16,483 101,519 16,035 2,356 989 37,959 183,250 2,694,087 |
Income £ 355,898 40 14,689 117,719 488,346 7,790 40,630 12,507 7,449 16,725 27,206 2,920 160 26,954 29,637 171,978 660,324 |
Expenditure £ (526,523) (4) (1,469) (261,689) (789,685) (9,393) (48,082) (13,953) (7,848) (30,995) (156,081) (4,736) 235 (28,361) (43,961) (343,175) (1,132,860) |
Transfers in/out £ (45) - - 162,313 162,268 305 10,251 2,067 2,306 - 160,777 3,250 897 2,483 82 182,418 344,686 |
Balance at 30 June 2022 £ 2,208,605 36 27,480 135,645 |
|---|---|---|---|---|---|
| 2,371,766 6,454 2,956 621 1,907 2,213 133,421 17,469 3,648 2,065 23,717 |
|||||
| 194,471 2,566,237 |
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