OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-08-31-accounts

PRAYER STORM ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDING 31 AUGUST 2022

Registered Charity Number 1161853

PRAYER STORM FINANCIAL STATEMENTS YEAR ENDING 31 AUGUST 2022

CONTENTS PAGES
Officers and professional advisers 2
Report of the trustees 3 to 27
Report of the Independent Examiner 28
Statement of financial activities 29
Balance sheet 30
Notes to the financial statements 31 to 40

2

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 FCA DChA 6 Hulme Hall Avenue

Cheadle Hulme SK8 6LN

Bankers

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

3

REPORT OF THE TRUSTEES 31 AUGUST 2022

The Trustees present their report together with the financial statements of the charity for the year ended 31 August 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 31 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:

4

REPORT OF THE TRUSTEES 31 AUGUST 2022

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

Throughout the past year with the increase in people accessing Prayer Storm online we have continued to grow with a priority on creating valuable content for these platforms.

Our YouTube channel has grown from 22,795 subscribers to 35,500.

And we have seen growth in other social media platforms, increasing to 18,600 followers on Facebook, 5,300 followers on Instagram and 2,800 on TikTok.

We 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.

5

REPORT OF THE TRUSTEES 31 AUGUST 2022

During the last 12 months Prayer Storm have conducted 119 days / nights of events of which 15 days / nights of these were Face to Face. Nearly 3k people have attended these Face-to-Face events. By making live recordings and posting them online it has meant that a further 109k people have been able to view these from all over the world.

In total, this year, Prayer Storm have reached out to 400k people with their 119 events, plus many more introductions to Prayer Storm using short video clips and podcasts on Instagram, Twitter and TikTok.

TYPICAL EVENTS AVAILABLE TO PRAYER STORM

6

REPORT OF THE TRUSTEES 31 AUGUST 2022

 Publishing, including

CHURCH PARTNERSHIP

PUBLIC BENEFIT

Throughout the period ending 31 August 2022, 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.

7

REPORT OF THE TRUSTEES 31 AUGUST 2022

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 ((please refer to the Charities policy on Recruitment and Appointment of Trustees)

Recruitment and appointment for prospective trustees

Policies and procedures for the recruitment, appointment and induction of all new trustees are in place and maintained by the trustees. Responsibility for the trustee recruitment process lies with the Chair of Trustees.

The prospective trustee(s) are firstly nominated by the CEO and the board member(s). The person nominated must be a natural person and not be under the age of 18

Prior to the prospective trustee being appointed the following eligibility checks will have been completed:

If the person has previously served as a trustee – a check will be made with the register of all persons who have been removed as a charity trustee either by the commission or by an Order of the High Court since 1 February 1993. The prospective trustees will be asked to sign a declaration to confirm that they are not disqualified from acting as a charity trustee.

To maintain good practice an enhanced DBS check will be required

8

REPORT OF THE TRUSTEES 31 AUGUST 2022

The Related Parties of Interest and Prayer Storm Board of Directors – Record of Other Interests forms will also need to be completed. The prospective trustee will have access to the charities latest Trustee Annual Report and the financial accounts.

Either during this process or after the necessary checks has been completed, the prospective trustee will be asked to attend an interview with the CEO and the chairperson of the charity. Each candidate is assessed having regard to the overall composition of the Board of Trustees, including any skills and experience that its then current board lack. The prospective trustee is invited to ‘shadow’ a Trustee Board meeting.

Finally, if it has been deemed that the trustee is successful, a letter is sent from the chair to the trustee, confirming their appointment.

The Charity appoints new trustees and reappoints those who have come to the end of their current term of office and who are eligible, willing, and nominated for re-election. Trustees are appointed for a three-year period in accordance with the constitution. After serving a maximum of three consecutive terms of office, a retiring trustee is not eligible to serve any further term of office until at least one year of non-service has elapsed. The charities constitution provides for a minimum of three and no maximum of trustees who may be appointed

Induction and training of trustees

All trustees receive induction training, a welcome pack and support to acquire the necessary detail of how the Movement and the Board of Trustees work, so that they can play a full part in discussion and decision-making. Every effort is made to broaden trustees’ knowledge on an individual level so that they are up to date with the whole of the Movement and the Strategic Plan. To help support this process the trustee will have a ‘buddy’ appointed to them who is an existing trustee.

9

REPORT OF THE TRUSTEES 31 AUGUST 2022

Appointment of the Chair of Trustees

The constitution states that the chair must be appointed by the other trustees on the board. The appointment may at any time be revoked –but it would be foreseeable that the appointment would be for a term of three years and then be reviewed by the CEO.

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.

Remuneration policy for key management personnel

The chief executive and chief operation officer salaries are set by the Trustees and will be reviewed annually, referring to benchmarking information to confirm that the salary is reasonable and in line with the market. A performance and salary review would normally be carried out at least once in each year for all key management personnel

Staff and volunteers

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

These activities include:

10

REPORT OF THE TRUSTEES 31 AUGUST 2022

Volunteers are onboarded in accordance with Prayer Storm Policies and Procedure, which require an application form completing, an informal interview and References.

Training sessions are conducted by staff (and/or skilled Volunteers) to ensure they have the skills to perform what has been asked of them.

ACHIEVEMENTS AND PERFORMANCE

Since February 2021, Prayer Storm's investment in new equipment and additional staff has certainly made a big difference to getting quality Live Streams together that are proving to be engaging well with larger numbers of people.

In this reporting period, investment has been more focused on additional production staffing. Over the last year we have taken on two further staff, now making it 11 Prayer Storm staff in total. The two new roles are:

A Technical Production Coordinator (4 days a week) was onboarded in Nov-21 and is responsible for maintaining all the new equipment plus reconfiguring the equipment for all the different events and projects we are running. This has taken a lot of pressure off James Aladiran (CEO) who was performing this role before their arrival. James now has more time to accept speaking requests from around the UK and Worldwide. The Technical Production Coordinator can focus on getting the best performance out of the equipment.

We have also taken on a Partner and Merchandise Coordinator (1.5 days a week) who is responsible for improving communications with our financial supporters and the management of Prayer Storm’s merchandise.

11

REPORT OF THE TRUSTEES 31 AUGUST 2022

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 years 2020 - 2022 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.

In the past where we would rely on Face-to-Face meetings to engage with the public, this year we have been able to host face to face events again as well as live streaming them to a wider audience. This method has a much better reach:

We certainly believe that this new approach is providing new channels for Gospel ministry and bringing hope to our nation and further afield.

Below is a summary of our activities throughout this year.

12

REPORT OF THE TRUSTEES 31 AUGUST 2022

EVENTS HELD IN SEP-21 to AUG-22

During the last 12 months Prayer Storm have conducted 119 days / nights of events of which 15 days / nights of these were Face to Face. Nearly 3k people have attended these Face-to-Face events. By making live recordings and posting them online it has meant that a further 109k people have been able to view these from all over the world.

In total, this year, Prayer Storm have reached out to 400k people with their 119 events, plus many more introductions to Prayer Storm using short video clips and podcasts on Instagram, Twitter and TikTok.

The table below shows the list of Events performed, this year, the month, and the number of nights duration, whether it was Face to Face Event and if so the number of attendees, whether it was an On-Line Event and if so the number of viewers on YouTube and Facebook.

There then follows a number of Testimonials sent in, by people, on how these events have impacted them.

13

REPORT OF THE TRUSTEES 31 AUGUST 2022 No. of nights F2F Nigh Nex Attend2d Event Date YOWUBE FA￿B00 PS Lives Sep-21 to Aug-22 63 71,892 39,023 Furnace Sep-21 195 1,200 hl Pra er Sep-21 4,3( 1,400 Shift Conference- 2 da Nov-21 112 1,3( 1,233 Player Sie hts11 hr al rnidni lan-22 15,667 4,814 Revival Ni hls-3 Ni hts13hrs Feb-22 447 9,4( 5,200 Wednesda Warriors- 5x1 hi earl mornin Feb-22 5,155 3,260 London Furna Mar-22 333 3,2LKI 1,500 A Special evening with Apostle Arome 05ayi Mar-22 287 22,(MM) 8,900 Pray&r Leaders Master Class 26-Mar 53 Pia er Sie Apr-22 14 73,9fJ) 9,399 Furnace May-22 157 3,1￿) I,ioo PS interview with Ap05tle Arome Osa May-22 16,51Kl 1,387 Prayer Storm Kid5 lun-22 14,2(M) 4,757 lun-22 6,4( 1,700 Midnight Mond3yS lun-22 12,8Tr) a,514 Remval Ni hts 465 8,3 2,142 Prayer Storm hosting Apostle Arome Osa Aug-22 845 26,LNXI 12,000 TOTALS 119 15 2,894 296,914

REPORT OF THE TRUSTEES 31 AUGUST 2022

TESTIMONIALS IN SEP-21 to AUG-22

Below are a few testimonies from these events:

3-Nights of Revival Testimonies - Jan-22

“Revival Night 3 really blessed me and led me to contact a few people and apologise for my behaviour in the past. God is so good. He is working in me, thank you Jesus. And thank you Prayer Storm for standing in the gap.” – B.

“This was so powerful! At the end when we were praying together, I felt this great joy of the Lord come upon me. Thank you, Prayer Storm, for raising up an army for Jesus.” – B.

“Because of Revival Nights, I am signing up again for the life of intercession. Put my name down on the list.” – M.

“I received my healing from chest pain during Revival Night 3 during the prayer session led by James. To God be the glory.” – F.

“Friend, thank you for sharing Prayer Storms worship night thingymabob. I’ve just caught the last 20ish mins and oh Jesus, what timing. My depression took a deep dive tonight and I considered a lot of things, I’ve been praying all night for the loudness to end and to be able to breathe again and I just jumped on and immediately began to hear more clearly and the hopeless voices became more silent until I heard Jesus speaking peace again.” – B.

“Mate I can’t even begin to describe what God did with me in the basement during that meeting! I’m no doubt coming tomorrow and the night after! I was just sat sorting stuff for placement and then came across the live stream and then boom I was sat in my chair joining the prayer and beginning to warfare!” – R.

Prayer Siege 5 Testimonies – April 2022

“I’m so GLAD your channel came across my feed! It was definitely a divine appointment! I have NEVER prayed for an hour before let alone in tongues! Your ministry showed me how it’s done! It’s all about having focus and setting the atmosphere! Your leadership team gives FOCUS and the musicians set the ATMOSPHERE! Completely ANOINTED! Even the replay is ANOINTED! I am BURNING BRIGHT! Praise God for your OBEDIENCE and FERVOR!!! Keep on letting the Lord lead you! You are EMPOWERING THE BODY!!!” – T.

“Thanks for this great work. People really want to pray but they need that extra push. Thank you, Prayer Storm, for reigniting passion for prayers in the hearts of men and women.” – E.

15

REPORT OF THE TRUSTEES 31 AUGUST 2022

“First time on here. Been experiencing fire in my hands. He is healing someone right now. Powerful very powerful.” – C.

“ This is certainly increasing my capacity; an hour is often not enough now and a couple of times I have put on another full prayer siege from the archives right after I have been finding myself wanting to pray randomly through the day too.” – G.

“I genuinely thank God for you people. Feel like you all are my prayer team!!!” – E.

“Oh my good Lord God!! tonight was amazing the interruptions at the beginning got me so mad I soared in the spirit tonight. I know night 8 was so significant in the battle. Prayer Storm I don't want to patronise you by saying you have no idea of what you are doing for us but seriously you have been a lifeline for me over the past 2 years. You have taught/ helped me to elevate my prayer life. I am establishing praying in the spirit at my church each week with others. I pray for prayer storm regularly that you will get the war house you so desire. God bless you abundantly in the name of Jesus! No weapon formed against you shall prosper and every tongue that rises up against you, you shall refute in the name of JESUS 🙏 .” – N.

“There really is such a grace on these streams to go deeper in prayer. I hear God so clearly when I pray along to the prayer sieges and other livestreams.” – K.

“Powerful once again, you guys are raising up a new breed of prayer warriors and intercessors thank you prayer storm for standing in the gap 🔥 .” – B.

“I don't know if I can even convey how blessed I have been by these sessions...I really needed them honestly by the 3rd one I felt I wanted to come and camp outside the studio for the next session! You are certainly fulfilling your mandate I haven't been so stirred in prayer for a long time. I've even started working my way back through the prayer siege back catalogue as often when the livestream is over I still want more!” – G.

“Stumbling unto your Chanel has brought a big change in my life and that of my wife’s. Just about a year ago, we lost a spiritual father that thought us that God lives in a man and helped us to grow with the consciousness of Christ. He was gruesomely stabbed multiple times to death by a hoodlum and that affected the belief he bestowed on the congregation. The church has struggled ever since and we have managed to hold on to God. Two days ago I came across the YouTube Chanel and after the prayer something happened to me. I sent my wife the link as I am a way on a business trip. She had her doubts but after some encouragement she watched the video. These were her words , “ this is the first time I have prayed for over an hour in one year and I could feel a great burden lift from me which brought me to tears. I never knew I was grieving until now”. We joined the session last night and from our conversations over the phone, I could tell she’s found what she’s struggled with over

16

REPORT OF THE TRUSTEES 31 AUGUST 2022

the months. I’d like to specially thank you guys for the good work you are doing. May the good Lord continue to release his grace upon you all. Amen” – Unknown.

“My name is G. and I'm from N Ireland. I’ve been laid aside for over a month now with a bad lung infection and then I took covid. But I want to share, that through this time of sickness, I started reading your book James, which I've had for ages. I also did the leadership course on prayer last week with you online. I can't even begin to explain the changes that are taking place within me. The Lord has got my full attention and is speaking so clearly to me on the subject of prayer. Then I saw your post for the 7 nights of prayer. I've been so blessed and challenged to step out and join you all each night. Sometimes through replay...like I did on night 5. I've never prayed this way ever in my life. I feel like something has broken over me and released me to be the warrior in prayer God has intended me to be. Night five's replay was powerful. I've had covid for 12 days and couldn't get a negative result. But during the Prayer time I literally felt it leave my body. This morning I got my negative result. Last night I prayed from a place of authority and power that I never knew was possible. I served the enemy an eviction notice and did warfare for my family, my health, my community and my future, like I've never done before. I literally feel like I've been set on fire again. 🔥 Thank you so much for helping the body of Christ to supernaturally encounter the Lord through prayer in these days. I'm awake now! No surrender. No turning back. This life is on fire. 🔥 ” – G.

Prayer Storm Kids Testimonies – May-2022

Wow this has gotta be the best PrayerStorm initiative ever so someone who has kids and finds it a struggle to cultivate a culture of worship and prayer. Thank you, James and Justice. To God be the glory . S.

Oh my!! I’ve had tears streaming down my face! What a blessing! What an anointing on precious Justice. What a challenge listening to his favourite song - anywhere, anything!! What a challenge to us adults. Praying blessing and covering over all your family and over the children in all of our lives. An amazing night with our amazing God!! Thank you all so

Justice Prayer for Fear: "You really minister to my spirit that is what l am going through right now." M.

Justice Prayer for Fear: "Great testimony and prayer Justice you're a mighty child of God... and thank you for reminding me that I have not been given a spirit of fear." E.

17

REPORT OF THE TRUSTEES 31 AUGUST 2022

All Night Prayer – June-22

“I’m in New Zealand and I found your live intercession and I started praying with you. I’ve been putting you guys on every time I pray and my prayer life has transformed. I’ve been bedridden for 3 years with an illness and I feel like I’m ice skating in the spirit with Jesus! Thank you from all my heart, for the presence of the Lord is in my room and I’m dancing and praying like never before! Next level, only Jesus, I degree ‘All Night Prayer’ for the broken!!!!! Revival! I stand and I’m with you guys, resilience. Amen family.” – T.

Apostle Arome Asayi (Night 1) – August-22

“I’m Still very overwhelmed a few days later. Apostle Arome you are an amazing man of god I fell away from Christ and coming to Prayer Storm I found him again. I wish Prayer Storm was on every day! I was healed in this place it opened my eyes again thank you ! Even when he said “ there is people struggling to sleep in this place “ I came to the front and got prayed over As I was walking off he said AND “ you don’t need drugs to sleep “ I know this was the Lord giving me clarification. Something I had been battling with for a while And didn’t have enough trust in the lord to stop But I’m now healed! The devil is a liar I really cannot wait to for the next Prayer Storm all the glory to God.” – K.

“ I have never seen in my whole life what I saw yesterday!! My understanding of spiritual things has increased in another dimension.” – D.

“My wife Danielle and I (JC) attended the programme yesterday after traveling from Exeter. Yesterday evening was such a blessing to us. Danielle wears glasses for her optical accommodation defect. Yesterday the Apostle prayed for people who wear glasses. We prayed in Faith. She has been complaining about changing her glasses since she arrived in the UK from Cameroon. So at night, she dreamed that she went for an optical examination to get new glasses. When it was prescribed, as she took it, it fell and was broken. We believe it is a sign of her healing and believe God by faith that she is completely healed” – J.

Music Instrumentals

“Man of God I love what you’re doing in the UK. It’s an inspiration. I used one of the Prayer Storm instrumentals last nights, was truly ascended. Prayer is the only way, please continue to release the instrumentals as they are much better than anything we’ve used so far.” – P.

18

REPORT OF THE TRUSTEES 31 AUGUST 2022

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 reduced to £349,033 (2021: £459,792).

In 2021 that charity received a significant grant of £292,500 from the Stewardship Trust for Media Production , the development of the Prayer Storm App, and building project

The costs went up to £303,936 (2021: £283,001) 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 £164,210 (2021: £126,401).

Income from Trading activities were £22,412 (2021: £12,595).

Income from Grant funding was £127,500 (2021: £297,851). A large grant of £127,500 was received from Stewardship Trust towards Media Production and the development of the Prayer Storm App.

The costs of raising funds amounted to £14,756 (2021:£14,003), and the costs of fund generating activities were £13,377 (2021:£ 6,793)

'Income from Charitable activities' in the accounts shown as £34,888 (2021: £22,930) includes £19,306 (2021: £11,178) of speaking fees.

Governance

The £979 ‘governance’ costs include the costs associated with independent examination of the accounts.

19

REPORT OF THE TRUSTEES 31 AUGUST 2022

Surplus

Total of the incoming resources exceeded resources expended in the period by £45,097 (2021: £176,791) and £244,836 is held as unrestricted funds and £134,070 is held in restricted funds towards the completion of the Prayer Storm App.

Balance Sheet

The Balance Sheet as at 31 August 22 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 £96,388 (2021: £129,070)

Reserves policy

The Trustees have adopted a reserves policy which they consider appropriate, to ensure the continuing ability of Prayer Storm to 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.

The ‘free reserves’ held by the charity are the unrestricted funds less the value of any designated funds and tangible assets not readily available to be spent

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

This year the trustees reviewed their reserves policy. As a result of this review the trustees now consider they need to hold reserves to:

20

REPORT OF THE TRUSTEES 31 AUGUST 2022

Should the charity have to wind up the trustees consider a reserve of £108,500 appropriate to cover staff redundancy payments; lease commitments and provide for 3 months running costs to wind up in an orderly manner.

In the normal course of events the trustees consider a reserve of £199,500 appropriate to provide 6 months running costs to allow time to secure new funding if required and provide for the replacement of assets.

At the 31 August 2022 the charity held free reserves of £146,349. The trustees had met their policy target reserves for the winding up the charity in an orderly manner, but not to provide 6 months running costs to allow time to secure new funding if required and provide for the replacement of assets, as the new revised policy has substantially increased reserves to be held. The trustees are in ongoing discussions with Prayer Storm partners to identify ways in which the free reserves held can be brought into line with the policy.

21

REPORT OF THE TRUSTEES 31 AUGUST 2022

Risk policy

Prayer Storm has risk-management policies and procedures through which risks arising from existing operations and strategic developments are identified and evaluated. The Leadership Team is required to identify risks associated with activities, assess their potential impact and probability of occurrence, and report on procedures which are in place or are being developed to manage the risks. Significant risks are highlighted for consideration and monitoring by the Trustees and the suitability of the risk review and management process is monitored by the Yearly Independent Audit conducted on Prayer Storm’s behalf.

During the year, the Leadership Team and the Trustees carried out reviews of potential reputational, financial, mission and operational risks to the charity. The major risks to which the Prayer Storm is exposed have been reviewed and actions have been established to mitigate those risks.

Internal control risks are minimised by:

22

REPORT OF THE TRUSTEES 31 AUGUST 2022

Risk management

The trustees have examined the major strategic, business, and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to minimise these risks.

The trustees have taken steps to ensure that all child protection issues are properly addressed.

The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

A key element in the management of financial risk is the setting of a reserves policy and its regular review by trustees.

23

REPORT OF THE TRUSTEES 31 AUGUST 2022

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 £14,117 these gifts were given freely without any third-party benefit being received from any organisations and charities

24

REPORT OF THE TRUSTEES

31 AUGUST 2022

PLANS FOR FUTURE PERIODS

25

REPORT OF THE TRUSTEES YEAR ENDING 31 AUGUST 2022 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 required to:

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.

26

REPORT OF THE TRUSTEES YEAR ENDING 31 AUGUST 2022

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: 28 November 2022

27

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 2022.

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:

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 29 November 2022 6 Hulme Hall Avenue Cheadle Hulme SK8 6LN

28

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDING 31 AUGUST 2022

Note
Unrestricted
Funds
INCOMING RESOURCES
£
Incoming resources from generating funds:
Donations and legacies
2a
164,210
Other income from Charitable activities
2b & 2c
34,888
Other Trading income
2d
22,412
Investment Income
2e
23
TOTAL INCOMING RESOURCES
221,533
RESOURCES EXPENDED
Charitable Activities
3
234,066
Governance Costs
5
979
TOTAL RESOURCES EXPENDED
235,045
NET(OUTGOING)/INCOMING
RESOURCES BEFORE TRANSFERS
(13,512)
TRANSFERS
Gross Transfer between Funds
5,237
NET MOVEMENT IN FUNDS
(8,275)
Total Funds Brought Forward
253,112
TOTAL FUNDS CARRIED FORWARD
244,837
Note
Unrestricted
Funds
£
INCOMING RESOURCES
221,510
TOTAL RESOURCES EXPENDED
(235,045)
OPERATING SURPLUS
(13,535)
OTHER INCOME
Investment Income
2d
23
SURPLUS FOR THE FINANCIAL YEAR
(13,512)		 Note
Unrestricted
Funds
INCOMING RESOURCES
£
Incoming resources from generating funds:
Donations and legacies
2a
164,210
Other income from Charitable activities
2b & 2c
34,888
Other Trading income
2d
22,412
Investment Income
2e
23
TOTAL INCOMING RESOURCES
221,533
RESOURCES EXPENDED
Charitable Activities
3
234,066
Governance Costs
5
979
TOTAL RESOURCES EXPENDED
235,045
NET(OUTGOING)/INCOMING
RESOURCES BEFORE TRANSFERS
(13,512)
TRANSFERS
Gross Transfer between Funds
5,237
NET MOVEMENT IN FUNDS
(8,275)
Total Funds Brought Forward
253,112
TOTAL FUNDS CARRIED FORWARD
244,837
Note
Unrestricted
Funds
£
INCOMING RESOURCES
221,510
TOTAL RESOURCES EXPENDED
(235,045)
OPERATING SURPLUS
(13,535)
OTHER INCOME
Investment Income
2d
23
SURPLUS FOR THE FINANCIAL YEAR
(13,512)		 Restricted
Funds
£
0
127,500
0
0
127,500
68,891
0
68,891
58,609
(5,237)		 Total
Total
2022
2021
£
£
164,210
126,401
162,388
320,781
22,412
12,595
23
15
349,033
459,792
302,957
281,842
979
1,159
303,936
283,001
45,097
176,790
0
0
45,097
176,790
333,810
157,020
378,907
333,810
Total
Total
2022
2021
£
£
349,010
459,777
(303,936)
(283,001)
45,074
176,776
23
15
45,097
176,790
221,533
234,066
979
235,045
(13,512)
5,237
(8,275)
253,112
244,837
Unrestricted
Funds
£
221,510
(235,045)
(13,535)
23
(13,512)		 53,372
80,698
134,070
Restricted
Funds
£
127,500
(68,891)
58,609
0
58,609

29

BALANCE SHEET

As at 31 AUGUST 2022

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
Restricted Income Funds
13a
Unrestricted Income Funds
13
Designated Funds		 PRAYER STORM
PRAYER STORM
2022
2021
£
£
96,388
129,070
2,100
2,100
98,488
131,170
5,050
5,075
7,310
2,518
281,007
210,901
293,367
218,495
12,949
15,855
280,419
202,640
378,907
333,810
378,907
333,810
134,070
80,698
146,349
121,942
98,488
131,170
378,907
333,810

These financial statements were approved by the trustees on 28 November 2022 and signed on their behalf by:

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

30

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2022

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.

31

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2022

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 accrual’s 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% (2021: 25%) using the straight-line method.

32

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2022

Current Assets

Amounts owing to the charity at 31 August 2022 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 £127,500 (2021: £292,500) received from the Stewardship Trust for Media Production , the development of the Prayer Storm App, and building project.

The amount of £134,070 was unspent at the end of the financial year.

33

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2022

2a Donations and legacies
Gifts Individuals
Gifts Churches & Ministries
Gifts Business
Gifts Trusts & Foundations
Gifts in Kind
Tax Refund
2b Grant Funding		 Unrestricted
Funds
£
129,191
7,032
670
0
0
27,316
164,210		 Restricted
Funds
£
0
0
0
0
0
0
0		 Total
Total
2022
2021
£
£
129,191
105,777
7,032
13,099
670
1,527
0
569
0
0
27,316
5,429
164,210
126,401
Government Grants 0 0 0
0
Other Grants
2c Other Income from charitable Activities		 0
0		 127,500
127,500		 127,500
297,851
127,500
297,851
Event Income
Teaching and Training income		 3,559
11,974		 0
0		 3,559
4,993
11,974
5,309
Equipment Hire
Speaking fees
2d Other Trading Income
Trading Sales
2e Investment Income
Bank Interest Received
TOTAL INCOMING RESOURCES		 50
19,306
34,888
22,412
22,412
23
23		 0
0
0
0
0
0
0
127,500		 50
1,450
19,306
11,178
34,888
22,930
22,412
12,595
22,412
12,595
23
15
23
15
349,033
459,791
221,533

34

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2022

3. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

Costs of Direct Charitable Activities Unrestricted
Restricted
Funds
Funds
£
£
235,045
68,891
235,045
68,891		 Total
Total
2022
2021
£
£
303,936
283,001
303,936
283,001

4. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITIES TYPE

Activities Activities
Undertaken
Directly
£
Costs of Generating Voluntary income
14,756
Costs of Fund Generating Activities
13,377
Costs of Charitable Activities
274,824		 Support
Costs
£		 Total
2022
£
14,756
13,377
274,824		 Total
2021
£
14,003
6,793
261,047
Governance costs 0 979 979 1,159
302,957 979 303,936 283,001

5. GOVERNANCE COSTS

Unrestricted
Funds
£		 Total
2022
£		 Total
2021
£
Other Governance costs 979 979 1,159
979 979 1,159

6. NET OUTGOING RESOURCES FOR THE YEAR

Total Total
This is stated after charging 2022 2021
£ £
Depreciation of owned assets 44,691 33,859

35

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2022

7. INFORMATION REGARDING TRUSTEES AND EMPLOYEE

Employee costs during the year: Total
2022
£		 Total
2021
£
Wages and salaries
Social security costs
Pension costs		 130,292
8,202
1,743
140,237		 116,731
6,910
1,764
125,405
Average number of staff employed: No. No.
Raising funds and Charitable Activities 11 8
11 8

No of employees receiving remuneration of more than £60,000 during the year nil(2021: Nil)

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £52,586 (2021: £54,446).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year nil (2021: nil).

No charity trustee received payment for professional or other services supplied to the charity nil (2021: nil).

Trustees' expenses represent the payment or reimbursement of travel and subsistence costs totalling nil (2021: £nil) incurred by Trustees relating to attendance at board meetings.

36

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2022

8a. Tangible Fixed Assets 2022
2022
£
£		 2022
2022
£
£		 2022
2022
£
£		 2022
2022
Total
£
£
£		 2022
2022
Total
£
£
£		 2022
2022
Total
£
£
£		 2022
2022
Total
£
£
£
IT Infrastructure Audio Equipment Video Equipment Fixtures& Fittings
Cost
at 1 September 2021
Additions
Disposals
at 31 August 2022
Depreciation
at 1 September 2021
Charge for year		 69,301
9,862
(2,383)
76,779
14,020
17,707		 26,309
1,070
0
27,379
6,428
671~~1~~		 83,821
5,380
(3,450)
85,751
30,432
20,104		 674
180,105
16,312
0
(5,833)
674
190,583
154
51,034
169
44,691
Disposals (596) 0 (934) 0
(1,530)
at 31 August 2022
Net Book Valueat 31 August 2022
at 31 August 2021
8b. Intangible Fixed Assets
Cost
at 1 September 2021
Additions
Disposals		 31,131
45,648
55,281		 13,139
14,240
19,881		 49,602
36,149
53,389		 323
94,195
351
96,388
520
129,070
2022
Total
£
£
2100
2100
0
0
0
0
at 31 August 2022 2,100 2,100
Depreciation
at 1 September 2021
Charge for year
Disposals		 0
0
0
0
0
0
at 31 August 2022 0 0
Net Book Valueat 31 August 2022 2100
2100
at 31 August 2021 2,100 2,100

37

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2022

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		 2022
£
5,050
5,050
2022
£
2,704
2,624
1,982
0
7,310
2022
£
41,909		 2021
£
5,075
5,075
2021
£
21
1,277
1,220
0
2,518
2021
£
17,787
Savings Account
12. Creditors : Amounts falling due within one year
Bank loans, Credit cards & Overdrafts
Trade creditors		 239,099
281,007
2022
£
1,341
2,835		 193,115
210,901
2021
£
3,141
2,097
Other creditors including taxation
and social security
Accruals and deferred income		 911
7,862
12,949		 2,698
7,919
15,855

38

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2022

13a. Restricted Funds
13b. Unrestricted Funds
General Fund - Free Reserves
Designated - Fixed Assets		 Balance at
01-Sep-21
£
80,698

121,942
131,170
333,810		 Incoming
£
127,500
221,533
0
349,033
Movement		 Outgoing
£
(68,891)
(235,045)
0
(303,936)
in Resources		 Between
Balance at
Funds
31-Aug-22
£
£
(5,237)
134,070
37,919
146,349
(32,682)
98,488
0
378,907

The General funds include designated funds of Fixed Assets valued at £98,488 and Free reserves of £146,349

The £134,070 held in restricted funds is the monies remaining from the Stewardship Grant that was given towards the completion of the Prayer Storm App and building project.

14. ANALYSIS OF NET ASSETS BY FUND
InTangible
Tangible
Fixed
Fixed
Assets
Assets		 14. ANALYSIS OF NET ASSETS BY FUND
InTangible
Tangible
Fixed
Fixed
Assets
Assets		 14. ANALYSIS OF NET ASSETS BY FUND
InTangible
Tangible
Fixed
Fixed
Assets
Assets		 14. ANALYSIS OF NET ASSETS BY FUND
InTangible
Tangible
Fixed
Fixed
Assets
Assets		 Net Current
Assets /
(Liabilities)		 Creditors
Due after
One Year
TOTAL
Restricted Funds
Unrestricted Funds		 £
0
2,100		 0
96,388		 £
134,070
146,349		 £
£
0
134,070
0
244,837
2,100 96,388 280,419 0
378,907

39

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDING 31 AUGUST 2022

15. OPERATING LEASE COMMITMENTS

15. OPERATING LEASE COMMITMENTS
2022 2022 2021 2021
Land and Land and
Buildings Other Buildings Other
£ £ £ £
Leases which expire:
Not later than one year 0 3,777 0 3,777
Later than one year and not later than five years 0 4,091 0 4,091

16. RELATED PARTY TRANSACTIONS

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

Total Donations made by the Trustees and key management personnel during the period were £11,380 (2021: £3,560)

17. CONTINGENCIES

The Trustees have confirmed that there were no contingencies liabilities which should be disclosed at 31 August 2022

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.

40