2021-08-31-accounts - Prayer Storm

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PRAYER STORM ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDING 31 AUGUST 2021

Registered Charity Number 1161853

PRAYER STORM FINANCIAL STATEMENTS YEAR ENDING 31 AUGUST 2021

CONTENTS	PAGES
Officers and professional advisers	2
Report of the trustees	3 to 19
Report of the Independent Examiner	20
Statement of financial activities	21
Balance sheet	22
Notes to the financial statements	23 to 32

PRAYER STORM OFFICERS AND PROFESSIONAL ADVISERS

The Board of Trustees R. Reveley

P. Booth P. Lloyd J. Maroa G Enwhistke

Registered Office Lancaster House

Harper Road Sharston M22 4RG

Independent Examiner Mr Philip Wells Bsc DChA 6 Hulme Hall Avenue Cheadle Hulme SK8 6LN

Bankers

LLOYDS BANK Cheadle 60-62 High Street Cheadle Cheshire SK8 1AE

REPORT OF THE TRUSTEES

31 AUGUST 2021

The Trustees present their report together with the financial statements of the charity for the year ended 31 AUGUST 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 12 and comply with the Charity’s Trust Deed and applicable law.

These financial statements comply with the Charities Act 2011, the Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102) and the Charities Act 2011).

OBJECTIVES AND ACTIVITIES

The objectives of Prayer Storm Trust are for the benefit of the public.

It exists:

To advance the Christian faith in particular (but not limited to) by the provision of Christian literature and other Christian materials, the development of Christian education in schools, universities and colleges, and the provision of training on prayer to churches and other religious and secular education organisations.
Prayer Storm is a movement of worship, prayer and fasting which exists to provoke a spiritual awakening by raising an army of praying warriors. We gather people together around divine encounters and equip them to be increasingly fervent and strategic in prayer.
We have a vision for the mass mobilization of a prayer army who are consecrated to a lifestyle of prayer because

REPORT OF THE TRUSTEES

31 AUGUST 2021

they are so gripped with the conviction that only a revival of prayer in the church can revive the heart of a nation. As a result, many come to Prayer Storm with distractions and addictions and leave re-fired with a new focus to take awakening prayer back to their churches.

Our strategy is to engage with a wide audience through our activities, and to see individual lives transformed by a reawakening to the power of prayer. We work to inspire a shift in prayer culture in churches, with a strategy to see church leaders move prayer higher on their agenda as they take ownership of prayer culture.

We measure our impact through metrics (online reach and event attendance) and through personal stories of transformation which we gather after each of our events and courses.

SUMMARY OF ACTIVITIES

Over the year, our YouTube channel has grown from 17,031 subscribers to 22,795, with video views from the previous year totalling 632,705.

Throughout the past year with the increase in people accessing Prayer Storm online we have continued to grow considerably with a priority on creating valuable content for these platforms. We now have 18,356 people following on Facebook, 4,938 people on Instagram and 2,800 on Twitter.

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31 AUGUST 2021

TYPICAL EVENTS AVAILABLE TO PRAYER STORM

Furnace events – regular gatherings of worship and intercessory prayer.
Prayer Storm Online Gathering – larger conferences featuring worship, teaching and ministry
Prayer Storm Nazirite School – a ten-week course helping delegates grow in their understanding of prayer, drawing on principles from the Nazirite vow (found in Numbers 6)
School of Worship and Warfare – an event to equip musicians, worship leaders, sound engineers and church leaders in the role of music in prophetic worship and strategic prayer
Prayer Storm Live – 100 consecutive nights of live worship, prayer and intercession

OTHE RESOURCES AVAILABLE

Teaching available on
The Prayer Storm Podcast
Prayer Storm TV
Our YouTube channel
On CDs and USBs
Live.prayerstorm.org an online purpose-built platform allowing live personal prayer
Network.prayerstorm.org a purpose-built platform offering subscription services to Prayer Storm content, and ability to livestream our schools and conferences

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31 AUGUST 2021

Publishing, including
Prayer Storm Music
James Aladiran’s latest book – Life on Fire book (released May 2021)

CHURCH PARTNERSHIP

Providing coaching and mentoring for pastors and church leaders to promote prayer
Church partnership programme

PUBLIC BENEFIT

Throughout the period ending 31 August 2021, the trustees have paid due regard to the Charity Commission's guidance on Public Benefit and, in particular, the specific guidance provided to charities for the advancement of religion. The Trustees are satisfied that the information provided in the report and accounts meets the public benefit reporting requirements.

REPORT OF THE TRUSTEES 31 AUGUST 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Prayer Storm Trust s governing document is a constitution. The charity is registered as a Charitable incorporated Organisation, whose only voting members are its trustees

Appointment of Trustees

Trustee selection method is by appointment by the current trustees, of any person meeting the requirements set down in the constitution. Trustees are selected on basis of their experience, expertise, and specific skills which are reasonably expected to further the mission and vision of the charity.

Organisation

As set out in the Charity constitution, The Board of Trustees meets at least quarterly to oversee the vision, strategies and management of the charity.

Day to day management of the Trust’s operations is delegated to CEO James Aladiran and his operations team. The trustees and specialist charity and executive support is provided when required.

Staff and volunteers

Much of the activities during this period were carried out by volunteers, to whom the trustees extend their gratitude.

REPORT OF THE TRUSTEES 31 AUGUST 2021

ACHIEVEMENTS AND PERFORMANCE

In 2020-2021 Prayer Storm saw two new significant staff members added to the team.

Head of Missions : responsible to the Leadership Team for Mission Strategic Planning and sharing the responsibility for hosting events
Social Media Coordinator : responsible for Social Media strategic planning to reach the community and Prayer Storm’s desire to move into media frequented by youth and young adults

Restructuring of existing job roles has ensured that roles have stayed relevant to the developing needs of the ministry in order to fulfil and achieve our objectives. The year 2021 has seen a huge shift in the way the world has been able to operate, as a ministry Prayer Storm has adapted and as result has seen growth. Here is a summary of our activities.

EVENTS HELD IN 2020-21

In September 2020 we held a four session Worship + Warfare Academy in Manchester. This was attended by 96 individuals both online and in-person to learn how to increase their effectiveness in prophetic worship and intercession. The academy gave us the chance to journey with people over the course of a month and increase their practical skills in addition to more theory-based learning.

Prayer Leaders Network ran from October 2020 to July 2021, and saw 71 people sign up for monthly mentoring and training in prayer leadership

We continued to run Furnace, our monthly night of prayer, worship and intercession. We ran these events online and saw an average monthly attendance of 5,000 people per month.

We held an Online Gathering - The Online Gathering was held in November 2020 with an online attendance of over 12,200 people viewing the

REPORT OF THE TRUSTEES 31 AUGUST 2021

livestream, and the recording. We were able to have guest worship and prayer leaders and this was streamed live from Bethany Church, Manchester.

In March 2021 we held a new conference - Prayer Culture - which we held online. This was attended by 188 ticket holders and Jennifer LeClaire was our guest speaker alongside James Aladiran and Matt Varah Wilson.

In February 2021 we started Prayer Siege - praying in tongues online for an hour a night. To date we have held three seasons of this and held two All Night Prayer online events. On these live streams and recordings alone, we have received over 134,000 views.

Since May-21 and the release of the book Life on Fire, Prayer Storm have hosted a number of “ Life on Fire discussion ”. This initiative took a chapter of the book and had a three-way live discussion on the topics raised, another new format that asked and responded to typical questions people might have after reading the chapter.

COVID persisted throughout 2020-21, however, we have continued to grow our presence from our Lockdown Live initiative of 90 consecutive nights of live worship and prayer streamed to Facebook, YouTube and the Live platform. We followed this up with 100+ nights of Prayer Storm Lives, consisting of worship and teaching, many varied formats and real practical advice on how to get closer to God. One significant variant was Prayer Siege, which really took-off and from the testimonies below certainly impacted lives.

We now have a growing media presence, reaching out on new platforms frequented by the youth and young adults: Instagram, Tik-Tok and Twitter. People are not just subscribing to Prayer Storm but are becoming more interactive by leaving likes and comments, which will in turn help Prayer Storm to grow.

REPORT OF THE TRUSTEES 31 AUGUST 2021

TESTIMONIES RECEIVED

Prayer Seige Testimonies:

I just wanted to thank you for doing Gods work, through Prayer Siege especially.
I have joined in every night since day 1 when my mum told about it. On night 1 I wasn’t able to speak tongues at all and I had been desiring to. On that night I received the gift and started speaking fluently and at first I was bit doubtful that I was actually praying in spirit and I asked the Lord for some sort of confirmation as previously when I had tried it didn’t feel right but I was led to Jeremiah 1:9 where it says ‘Then the Lord reached out and touched my mouth and said “Look, I have put my words in your mouth!”’. I was soo happy and overwhelmed and I put it in the live chat and James mentioned it a couple of times. I just want to say thank you I believe this will truly change my life and bring me closer even closer to Christ. (Testimony Feb 2021)
A couple of weeks before the two-week prayer siege began, I started to speak in tongues. This is something that I have been desperate for the past couple of years. I was so excited when you announced about the prayer siege, and I was eager to join and exercise my newly received gift. I didn't anticipate joining for all of the 14 nights but I did and it was my favourite part of each day that I looked forward to. Now that season one is finished, I am hoping to continue on with my nightly one-hour prayer siege. It is harder to do it by myself without that discipline of someone guiding me so please pray for me! For the longest time I have felt a void within me, a feeling of emptiness and deep thirst for God. This confused me because I am a born again Christian and I spend time in the Word, so I wasn't sure why I was still feeling empty. I am still struggling with this, but participating in the nightly prayer siege is not only something new that I have done, but it has also helped to begin to quench my thirst for God. I also participated in the 6 hour prayer last night. To me it was a crazy thought to even bother joining in haha! But, I am so grateful that I did. When Rebecca was worshipping, she said she felt that we should get up and start walking around the room as if we're walking around the walls of Jericho. I did this, and after a while I had a vision of a wall rapidly falling down

11 REPORT OF THE TRUSTEES 31 AUGUST 2021

(similarly to an icicle falling off something and breaking)! It is currently almost 2am and I am watching part 1 of The Nazarite Vow series on your YouTube channel simply because I am craving more prayer and fellowship! Thank you so much for the obedience that you have shown Christ because it is abundantly blessing my life and helping me walk into something new and better with the Lord. (Testimony Feb 2021)
I have been joining in the prayer sieges so far and loved it! Found out about it part way through the first season in Feb so joined in the last few days and then through the last one. Been such a building up of my prayer and speaking in tongues life. Something I didn’t really exercise properly over the years of being saved (and I’m talking 20-30 plus years! Due to a discouragement in the early days of my faith as a teenager. Didn’t realise how much that affected me till now). God had been showing me how much my prayer life, therefore my capacity, had dwindled over the years so you guys have been very pivotal in His building me back up and I am grateful. (Testimony April 2021)

Nazarite Challenge Testimonies

My business did not appear to be prospering due to COVID19. Still I thought it would be easy to get a job with all my experience but despite sending 100s of applications and attending many interviews. The world rejected what I had to offer. God had my attention like never before. He was doing a deep work to soften my heart and remove my attachment to earthly things, during this time worship and prayer with Prayer Storm gave me structure and hope in the battle.

I didn't really have a language for what was happening until Jess and Rebecca discussed James word on the Nazarite challenge. This really resonated with me and I knew I had to begin this challenge.

I downloaded the app and again have found another foundational element in my journey with God so that the things of the earth will go dim and my relationship with

REPORT OF THE TRUSTEES 31 AUGUST 2021

him will grow deeper as I become more intwined to him through abiding in his

presence. (Testimony November 2020)

Prayer Storm Live Testimonies

Just an update on the people God told me to reconnect with today. I sent a text to one who moved out of the area and left flowers on the doorstep of the other. Both got in touch with me and were greatly encouraged. Relationships mended and both given details of Prayer Storm ministry, God is good. (Testimony April 2021)
Thank you so much for all you are doing to encourage and equip believers in this season to rise up and pray/build up stamina and capacity for the new season and revival ahead.

REPORT OF THE TRUSTEES 31 AUGUST 2021

FINANCIAL REVIEW

The Trustees have prepared the accounting policies for Prayer Storm Trust in accordance with the requirements of the SORP and of best accounting practice.

Review of the period

The Trustees are pleased to report a period of financial stability. During the year the baseline income increased to £459,792 (2020: £204,261).

The costs went up to £283,001(2020: £185,260 but were contained due to strong financial management and good cost control.

Income and Expenditure

Prayer Storm Trust relies on voluntary income as its principal source of funding. Total donation and legacies amounted to £126,401 (2020: £119,839).

Income from Trading activities were £12,595 (2020: £4,016).

Income from Grant funding was £297,851 (2020: £60,000). A large grant of £292,500 was received from Stewardship Trust towards Media Production and the development of the Prayer Storm App.

The costs of raising funds amounted to £14,003 (2020:£ 12,876), and the costs of fund generating activities were £6,793 (2020:£3,705)

'Income from Charitable activities' in the accounts shown as £22.930 (2020: £20,398) includes £11,178 (2020: £15.574) of speaking fees.

Governance

The £1,159 ‘governance’ costs include the costs associated with independent examination of the accounts.

Surplus

Total of the incoming resources exceeded resources expended in the period by £176,791 (2020: £19,001) and 96,093 is held as unrestricted funds and £80,698 is held in restricted funds towards the completion of the Prayer Storm App.

REPORT OF THE TRUSTEES YEAR ENDING 31 AUGUST 2021

Balance Sheet

The Balance Sheet as at 31 August 2021 was very strong ensuring that the charity has the assets required to deliver its commitments to the community.

Included in Tangible fixed assets are various items of Computer and Equipment valued at £129,070 (2020: £35,310)

Reserves policy

The Trustees have adopted a reserves policy which they consider appropriate, to ensure the continuing ability of Prayer Storm meet its objectives and obligations. The policy also seeks to maintain an acceptable ratio between the free reserves and the level of unrestricted cash expenditure.

'Free reserves' are represented by the unrestricted funds less the tangible fixed assets.

'Unrestricted cash expenditure' represents the operating costs for the year less the charge for depreciation.

The Charity does not intend to accumulate significant reserves but depends upon the ongoing support of its donors to meet future costs.

In order to be prudent the aim over the next 2 to 3 years to accumulate in general reserves an amount equivalent to 3 month's staff costs".

Risk policy

The Trustees conduct an on-going review of major risks as part of its regular monitoring and reporting. Internal risks are minimised by the implementation of procedures in regard to good practice child protection policies, fire safety and health and safety inspections where the Charity’s activities operate. Financial risks are minimised by the implementation of procedures for the authorisation of all transactions on a regular basis.

REPORT OF THE TRUSTEES

31 AUGUST 2021

INVESTMENT POWERS AND POLICIES

The Trustees have the power to invest surplus funds of the charity in investments, securities and property as they think fit. The current policy of the Trustees is to invest funds not immediately required by the charity into a range of Treasury Saving accounts which bear competitive rates of interest.

The Trustees consider the social, environmental and ethical impact of the investment, before placing any new funds with a third party. This policy is reviewed periodically by the Trustees.

REMUNERATION POLICY

The remuneration policy seeks to balance our Christian values and the need to attract and retain staff with appropriate qualifications and skills.

Our minimum wage is based on the Living Wage as set by the Living Wage Foundation, which is higher than the National Living wage as regulated by HMRC. Pay scales are benchmarked against similar jobs in the North-west and a London weighting is applied where appropriate. We review the retail price and consumer price indices for inflation on an annual basis, before deciding upon any annual increments

SHARING OUR RESOURCES

Our commitment to helping others around the world who share our heart for the poor and unreached is expressed through our tithe fund. We tithe a proportion of our unrestricted charitable income, and give it to other organisations and charities who share similar objectives to Prayer Storm

Our total giving during the year amounted to £8,971.17 these gifts were given freely without any third party benefit being received from any organisations and charities

REPORT OF THE TRUSTEES

31 AUGUST 2021

PLANS FOR FUTURE PERIODS

Increase in prayer meetings online/inperson
Organise more live events - Revival Nights, Prayer Conferences etc
Release a short film ‘The Boys of Eden’ and start new short film projects
Explore more creative videography projects
Record and release a Audio Book
Build stronger relationships (centred around our key objectives with developing prayer) with key leaders in the wider body of Christ (within the UK and outside the UK)
Engage in the writing of new Prayer Storm songs

REPORT OF THE TRUSTEES YEAR ENDING 31 AUGUST 2021 THE TRUSTEE'S RESPONSIBILITIES

Charity Law 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 its financial activities for that year together with its assets and liabilities at the end of the year, adequately distinguishing any material, special trust or other restricted fund of the charity.

In preparing those financial statements, the directors’ are require to:

a. Select suitable accounting policies and then apply them consistently
b. Make judgements and estimates that are reasonable and prudent

c. State whether the polices adopted are in accordance with the appropriate SORP on accounting by Charities and the Accounting Regulations and with applicable accounting standards subject to any material departures disclosed and explained in the financial statements; and

d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue its activities

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Statements of Recommended Practice and the regulations made under section of the Charities Act 2011.They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and deletion of fraud and irregularities.

The trustees are responsible for the maintenance and integrity of the financial information included in the charity’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustees have the power to invest in such assets as they see fit.

REPORT OF THE TRUSTEES YEAR ENDING 31 AUGUST 2021

RELATED PARTIES

A summary of transactions with related parties is set out in note 15 of the financial statements.

The Trustees declare that they have approved the trustees' report above

Signed on behalf of the charity's Trustees

Signed by

Date: 31 January 2022

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF PRAYER

STORM

I report to the trustees on my examination of the accounts of the above charity for the year ended 31[st] August 2021.

Responsibilities and basis of report

As charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charites Act 2011 (“the 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 all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

The charity’s gross income exceeded £250,000 and I confirm that I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

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:

accounting records were not kept in accordance with section 130 of the Charites Act; or
the accounts did not accord with the accounting records; or
the accounts did 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 in 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.

Philip Wells Bsc FCA DChA Date 1 February 2022 6 Hulme Hall Avenue Cheadle Hulme SK8 6LN

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDING 31 AUGUST 2021

Note Unrestricted Funds INCOMING RESOURCES £ Incoming resources from generating funds: Donations and legacies 2a 126,401 Other income from Charitable activities 2b & 2c 28,281 Other Trading income 2d 12,595 Investment Income 2e 15 TOTAL INCOMING RESOURCES 167,292 RESOURCES EXPENDED Charitable Activities 3 196,331 Governance Costs 3 1,159 TOTAL RESOURCES EXPENDED 197,490 NET(OUTGOING)/INCOMING RESOURCES BEFORE TRANSFERS (30,198) TRANSFERS Gross Transfer between Funds 126,291 NET MOVEMENT IN FUNDS 96,093 Total Funds Brought Forward 157,020 TOTAL FUNDS CARRIED FORWARD 253,113 Note Unrestricted Funds £ INCOMING RESOURCES 167,277 TOTAL RESOURCES EXPENDED (197,490) OPERATING SURPLUS (30,213) OTHER INCOME Investment Income 2d 15 SURPLUS FOR THE FINANCIAL YEAR (30,198)	Note Unrestricted Funds INCOMING RESOURCES £ Incoming resources from generating funds: Donations and legacies 2a 126,401 Other income from Charitable activities 2b & 2c 28,281 Other Trading income 2d 12,595 Investment Income 2e 15 TOTAL INCOMING RESOURCES 167,292 RESOURCES EXPENDED Charitable Activities 3 196,331 Governance Costs 3 1,159 TOTAL RESOURCES EXPENDED 197,490 NET(OUTGOING)/INCOMING RESOURCES BEFORE TRANSFERS (30,198) TRANSFERS Gross Transfer between Funds 126,291 NET MOVEMENT IN FUNDS 96,093 Total Funds Brought Forward 157,020 TOTAL FUNDS CARRIED FORWARD 253,113 Note Unrestricted Funds £ INCOMING RESOURCES 167,277 TOTAL RESOURCES EXPENDED (197,490) OPERATING SURPLUS (30,213) OTHER INCOME Investment Income 2d 15 SURPLUS FOR THE FINANCIAL YEAR (30,198)	Restricted Funds £ 0 292,500 0 0 292,500 85,511 0 85,511 206,989 (126,291)	Total Total 2021 2020 £ £ 126,401 119,839 320,781 80,398 12,595 4,016 15 9 459,792 204,261 281,842 184,460 1,159 800 283,001 185,260 176,791 19,001 0 0 176,791 19,001 157,020 138,019 333,811 157,020 Total Total 2021 2020 £ £ 459,777 204,252 (283,001) (185,260) 176,776 18,992 15 9 176,791 19,001
	167,292
	196,331 1,159
	197,490
	(30,198) 126,291
	96,093 157,020 253,113 Unrestricted Funds £ 167,277 (197,490) (30,213) 15 (30,198)	80,698 0 80,698 Restricted Funds £ 292,500 (85,511) 206,989 0 206,989

BALANCE SHEET

As at 31 AUGUST 2021

Note FIXED ASSETS Tangible fixed assets 8a Intangible fixed assets 8b CURRENT ASSETS Stocks 9 Debtors 10 Cash at bank and in hand 11 CREDITORS: Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Unrestricted Income Funds 13	PRAYER STORM PRAYER STORM 2021 2020 £ £ 129,070 35,311 2,100 2,100 131,170 37,411 5,075 3,254 2,518 8,092 210,901 114,118 218,495 125,464 15,855 5,855 202,640 119,609 333,810 157,020 333,810 157,020 253,112 157,020 333,810 157,020

These financial statements were approved by the trustees on 31 January 2022 and signed on their behalf by:

--------------------------------------------- Paul Booth -Trustee

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2021

1. ACCOUNTING POLICIES

Statement of Compliance

The financial statements have been prepared in accordance with FRS 102, “The Financial Reporting Standard applicable in the UK and the Republic of Ireland”, the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.The Charity constitutes a public benefit entity as defined by FRS102.

The trustees consider that, given the level of reserves, there are no material uncertainties about the Trust’s ability to continue as a going concern.

Incoming Resources

Donations & gifts

Donations and gifts are generally only recognised when received by or on behalf of the charity. In exceptional cases where an amount is significant, gifts are recognised as income when the charity is notified of a commitment to make a donation and the trustees are virtually certain they will receive the resources and the monetary value can be measured with sufficient reliability.

Income tax

Income tax recoverable on gift aid donations is recognised on a receivable basis.

Grants

Grants to the charity are accounted for as soon as charity is notified of its legal entitlement and the amount due.

Are accounted for when the funds are received

Income from charitable activities

All income from events and activities is recognised when due.

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2021

Income from fund generating activities

Income raised by special fund raising events, and trading activities are accounted for in the period in which the charity is entitled to receipt.

Resources Expended

Resources expended are included in the Statement of Financial Activities on an accruals basis.

Direct Charitable Expenditure

Directly attributable expenditure, has been allocated to the appropriate fund. Where costs have been shared the expenditure has been allocated to funds on the basis of their estimated consumption of expenses.

Governance

These costs include the costs of governance arrangements which relate to the general running of the charity as opposed to the direct management functions inherent in generating funds and in charitable activities. This includes such items as external audit, legal advice for trustees and costs associated with constitutional and statutory requirements, including trustee’s meetings.

Volunteers and donated services and facilities

The value of services provided by volunteers is not incorporated into these financial statements.

Fixed Assets

Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost, or if gifted, at the value to the charity on receipt..

Depreciation is calculated on the costs or valuation of the assets at the rate of 25% (2020: 25%) using the straight line method.

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2021

Current Assets

Amounts owing to the charity at 31 AUGUST 2021 in respect of income are shown as debtors less provision for amounts that may prove uncollectable.

Funds

Funds held by the charity are either:

Unrestricted general funds

These are funds that can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds

These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The restricted funds within the accounts represent a grant of £292,500 (2020: £60,000) received from the Stewardship Trust for Media Production and the development of the Prayer Storm App.

The amount of £80,698 was unspent at the end of the financial year.

A further amount of £127,500 was received after the year to help complete the development of the Prayer Storm APP

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2021

2a Donations and legacies Gifts Individuals Gifts Churches & Ministries Gifts Business Gifts Trusts & Foundations Gifts in Kind Tax Refund 2b Grant Funding	Unrestricted Funds £ 105,777 13,099 1,527 569 0 5,429 126,401	Restricted Funds £ 0 0 0 0 0 0 0	Total Total 2021 2020 £ £ 105,777 88,535 13,099 3,492 1,527 315 569 3,350 0 0 5,429 24,147 126,401 119,839
Government Grants	0	0	0 0
Other Grants 2c Other Income from charitable Activities	5,351 5,351	292,500 292,500	297,851 60,000 297,851 60,000
Event Income Teaching and Training income	4,993 5,309	0 0	4,993 2,573 5,309 0
Equipment Hire Speaking fees 2d Other Trading Income Trading Sales 2e Investment Income Bank Interest Received TOTAL INCOMING RESOURCES	1,450 11,178 22,930 12,595 12,595 15 15	0 0 0 0 0 0 0 292,500	1,450 2,250 11,178 15,574 22,930 20,398 12,595 4,016 12,595 4,016 15 9 15 9 459,792 204,261
	167,292

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2021

3. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

Costs of Direct Charitable Activities	Unrestricted Restricted Funds Funds £ £ 197,490 85,511 197,490 85,511	Total Total 2021 2020 £ £ 283,001 185,260 283,001 185,260

4. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITIES TYPE

Activities	Activities
Undertaken Directly £		Support Costs £	Total 2021 £	Total 2020 £
Costs of Generating Voluntary income 14,003 Costs of Fund Generating Activities 6,793 Costs of Charitable Activities 261,047			14,003 6,793 261,047	12,969 3,705 167,786
Governance costs	0	1,159	1,159	800
	281,842	1,159	283,001	185,260

5. GOVERNANCE COSTS

	Unrestricted Funds £	Total 2021 £	Total 2020 £

Other Governance costs	1,159	1,159	800
	1,159	1,159	800

6. NET OUTGOING RESOURCES FOR THE YEAR

	Total	Total
This is stated after charging	2021	2020
	£	£
Depreciation of owned assets	33,859	10,133

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2021

7. INFORMATION REGARDING TRUSTEES AND EMPLOYEE

Employee costs during the year:	Total Total 2021 2020 £ £
Wages and salaries Social security costs Pension costs	116,731 76,384 6,910 4,335 1,764 1,127 125,405 81,845
Average number of staff employed:	No. No.
Raising funds and Charitable Activities	8 5
	8 5

No employee received remuneration of more than £60,000 during the year (2020: Nil)

Amount paid or reimbursed to Trustees , in their capacity as trustees - £nil (2020: Nil)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2021

8a. Tangible Fixed Assets	2021 2021 £ £	2021 2021 £ £	2021 2021 Total £ £ £	2021 2021 Total £ £ £	2021 2021 Total £ £ £
	IT Infrastructure Audio Equipment		Video Equipment Fixtures& Fittings
Cost at 1 September 2020 Additions Disposals at 31 August 2021 Depreciation at 1 September 2020 Charge for year	12,236 57,065 0 69,301 7,002 7,018	0 26,309 0 26,309 0 6428	40,904 47,936 (5,019) 83,821 10,828 20,259	0 53,140 674 131,984 0 (5,019) 674 180,105 0 17,830 154 33,859
Disposals	0	0	(655)	0 (655)
at 31 August 2021 Net Book Valueat 31 August 2021 at 31 August 2020 8b. Intangible Fixed Assets Cost at 1 September 2020 Additions Disposals	14,020 55,281 5,234	6,428 19,881 0	30,432 53,389 30,076	154 51,034 520 129,070 0 35,310 2021 Total £ £ 2100 2100 0 0 0 0

at 31 August 2021				2,100	2,100
Depreciation at 1 September 2020 Charge for year Disposals				0 0 0 0 0 0
at 31 August 2020				0	0
Net Book Valueat 31 August 2021				2100 2100


at 31 August 2020				2,100	2,100

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2021

9. Stocks
Stocks of finished goods and goods for resale 10. Debtors Trade Debtors Prepayments Accrued income Other Debtors 11. Cash at Bank & In Hand Current Account Savings Account 12. Creditors : Amounts falling due within one year Bank loans, Credit cards & Overdrafts Trade creditors	2021 £ 5,075 5,075 2021 £ 21 1,277 1,220 0 2,518 2021 £ 17,787 193,115 210,901 2021 £ 3,141 2,097	2020 £ 3,254
		3,254
		2020 £ 0 0 8,092 0
		8,092
		2020 £ 34,425 79,693
		114,118
		2020 £ 995 1,157
Other creditors including taxation
and social security Accruals and deferred income	2698 7,919 15,855	954 2,749
		5,855

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2021

13.RECONCILIATION OF MOVEMENTS IN FUNDS

13a. Restricted Funds 13b. Unrestricted Funds General Funds	Balance at 01-Sep-20 £ 0 157,020 157,020	Incoming £ 292,500 167,292 459,792 Movement	Outgoing £ (85,511) (197,490) (283,001) in Resources	Transfers Between Balance at Funds 31-Aug-21 £ £ (126,291) 80,698 126,291 253,112 0 333,810

The General funds include designated funds of Fixed Assets valued at £131,170 and Free reserves of £121,942

The £80,698 held in restricted funds is the monies remaining from the Stewardship Grant that was given towards the completion of the Prayer Storm App.

14. ANALYSIS OF NET ASSETS BY FUND

	InTangible Fixed Assets	Tangible Fixed Assets	Net Current Assets / (Liabilities)	Creditors Due after One Year TOTAL
Restricted Funds Unrestricted Funds	£ 0 2,100	129,070	£ 80,698 121,942	£ £ 0 80,698 0 253,112

	2,100	129,070	202,640	0 333,810

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2021

15. OPERATING LEASE COMMITMENTS

15. OPERATING LEASE COMMITMENTS
	2021	2021	2020	2020
	Land and		Land and
	Buildings	Other	Buildings	Other
	£	£	£	£
Leases which expire:
Not later than one year	0	3,777	0	3,757
Later than one year and not later than five years	0	4,091	0	0

16. RELATED PARTY TRANSACTIONS

During the period the related party transactions were as stated below:

James Aladiran, Prayer Storm’s CEO was paid a salary and car benefit of £42,598 (2020: £38,098). His wife Rebecca Aladiran was paid a salary £11,848 (2020: £9,131) and his sister was paid a salary £12,613 (2020: £11,229)

Each Trustees received a copy of the charity’s book ‘Life on Fire’ worth £1.14 each.

Total Donations made by the Trustees and key management personnel during the period were £3,560 (2020: £2,220)

17. CONTINGENCIES

The Trustees have confirmed that there were no contingencies liabilities which should be disclosed at 31 August 2021

18. GOING CONCERN

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

19. PENSION

The charity operates an ‘automatic enrolment’ workplace pension scheme on behalf of its employees, as required by the Pensions Act 2008. All contributions due have been fully paid.