## **PRAYER STORM ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDING 31 AUGUST 2023** ## **Registered Charity Number 1161853** 0 ## **PRAYER STORM FINANCIAL STATEMENTS YEAR ENDING 31 AUGUST 2023** |CONTENTS|PAGES| |---|---| |Officers and professional advisers|2| |Report of the trustees|3 to 25| |Report of the Independent Examiner|26| |Statement of financial activities|27| |Balance sheet|28| |Notes to the financial statements|29 to 39| 1 ## **PRAYER STORM OFFICERS AND PROFESSIONAL ADVISERS** **The Board of Trustees** R. Reveley P. Booth P. Lloyd J. Maroa J. Holt (appointed 1 September 2023) **Registered Office** 1[st] Floor Offices Bethany Church 100 Church Road Gatley Stockport SK8 4NQ Independent Examiner Mr Philip Wells Bsc FCA DChA 6 Hulme Hall Avenue, Cheadle Hulme. SK8 6LN **Bankers** LLOYDS BANK Stockport. 60/62, Merseyway Shopping Centre, Stockport. SK1 1PL 2 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** The Trustees present their report together with the financial statements of the charity for the year ended 31 August 2023. 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: - 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 3 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** 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 35,500 subscribers to 44,700 this year (+9,200), a 26% increase in subscribers. And we have seen growth in other social media platforms, with 20,000 followers on Facebook, 10,000 followers on Instagram, 2,910 followers on Twitter and 1,800 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. 4 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** During the last 12 months Prayer Storm have conducted 115 days / nights of events of which 26 days / nights of these were Face to Face. 2,203 people have attended these Face-to-Face events. By making live recordings and posting them online it has meant that a further 150k people have been able to view these live events from all over the world. In total, this year, Prayer Storm have reached out to 414k people with their 141 days of 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 - **Furnace events** – Face-to-Face gatherings of worship and intercessory prayer (Manchester or London). - **Prayer Storm Online Gatherings** – larger conferences featuring worship, teaching, and ministry. - **Prayer Sieges** – An opportunity to fast and pray for an hour at midnight over a series of consecutive nights, from 1 week to 3-weeks duration. - **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 Lives** –Nights of worship, prayer and intercession held on-line. These also featured series such as **Midnight Mondays** and **Modern-Day Mystic** - **Prayer Storm Lives for Kids** –Nights of worship, prayer 5 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** and intercession, held on-line, specifically for children and with children in key roles. - **Prayer Storm Kids** – Nights of worship, prayer and intercession live and face to face. Specifically for children and with children in key roles - **SHIFT Conference** – A time of teaching on prayer and fasting. - **Prayer School Sessions** – A time of teaching for Prayer Leaders - **All Night Prayer / All Day (8-hour) Prayer Siege** – A time of extended prayer, seeking God’s voice and direction. - **Special Events with Guest Speakers** – Battle Ready with Apostle Arome Osayi (3-night event), Revival Nights with James Kawalya (3 nights), Afternoon Internal Sessions with James Kawalya – for Prayer Storm staff and guests. - Teaching available on - The Prayer Storm Podcast - Prayer Storm TV - Our YouTube channel. - On CDs and USBs - Prayer Storm Speakers available for booking by other organisations around the UK and overseas. - **Network.prayerstorm.org** a purpose-built platform offering subscription services to Prayer Storm content, and ability to livestream our schools and conferences. ##  Publishing, including - Prayer Storm Music - James Aladiran’s latest book – Life on Fire book (released May 2021) - AudioBook – Life on Fire by James Aladiran 6 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** ## 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 2023, 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. ## **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. 7 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** 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. 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. 8 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** ## **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. ## **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 salary is 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. 9 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** ## **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: - **Assisting at Face-to-Face Events** : Camera operators; screen switching operator; stewards; welcomers; Merchandise sales team; On the door registration team; Musicians; Prayer Team; Guest speakers; First Aiders. - **Assisting at On-Line Events** : Camera operators; screen switching operators; Musicians; Worship Leaders; Prayer Team; Guest speakers. 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, things have been pretty stable with no further large investments in equipment or staff positions. 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. 10 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** 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. This year Prayer Storm have managed to retain this growth and received many testimonies on how Prayer Storm continues to impact individuals. Prayer Storm continue to host Face-to-Face events as well as live streaming them to a wider audience. This method continues to provide a much better reach: - Typically, our ‘Battle Ready with Apostle Arome Osayi’ (3 nights) held in March 2023, reached a total of 672 at the physical event but were also joined by another 85,600 viewers (on YouTube and Facebook) - Followers are becoming more interactive and feeding back testimonies. We certainly believe that this 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. ## **EVENTS HELD IN SEP-22 to AUG-23** During the last 12 months Prayer Storm have conducted 141 days / nights of events of which 26 days / nights of these were Face to Face. 2,2033 people have attended these Face-to-Face events. But by making live recordings and posting them online it has meant that a further 150k people have been able to view these from all over the world. In total, this year, Prayer Storm have reached out to 414k people with their 141 days/nights of 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. 11 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** There then follows a number of Testimonials sent in, by people, on how these events have impacted them. 12 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** ## **TESTIMONIALS IN SEP-22 to AUG-23** Below are a few testimonies from these events: ## **September 2022** _I really felt like God was talking to me through you when you touched on that depression issue. The last couple of months I felt like waves of depression coming upon me. Even though God set me free of it, the devil attacked me here and there. Sometimes I was so sad and i physically felt like a blanket of sadness was over me. I couldn’t do anything until I prayed and worshiped God. That really spoke to me tonight because it was exactly what you talked about. Not all the time but waves that come here and there. I started to pray with you guys two days ago and I feel such a change in my prayer live. God is really setting me on fire again and I really feel lighter. Thank you so much for your Work. God is so gracious!_ – **YV (Prayer Siege)** _These sessions have transformed my life! The Presence of the Lord was so thick. This is just day 7!. I am so grateful for the move of God through Prayer Storm._ – **L (Prayer Siege)** ## **October 2022** _"I love prayer storm...and all the different sounds and words each member of this awesome team brings. Thank you"_ **- T S (Midnight Monday)** _"Izzy and Justice are GOD’s battle axes to the pulling down of strongholds in their generation. Thank you, dads, for guiding them in the way of The LORD. Your time invested in growing their spiritual banks will yield multitude dividends far beyond what you can think or imagine. Blessings"_ **- F (PSK Kids)** _"James the anointing you are working under is extremely powerful. As soon as you open your mouth, I feel the chains being loosened in my life. You have something I need!!! I thank God for your life"_ - **L (Sentenced To A Life Of Prayer)** " _Justice and James thank you so much for tonight. God took me into a deep place of worship. Was so blessed. Your ministry is SO powerful. Bless you and the whole family"_ - **J (PSK Kids)** _"This Was POWERFUL And HOLY SPIRIT FILLED I Appreciate You All" -_ **A (All Night Prayer)** ## **November 2022** “Praise God for this teaching. This is what I needed!” – **D (Prayer School)** “Missed the live but wow, I’m so glad I clicked this – just 17 mins in and it’s an echo of my desires for God! So looking forward to the next sessions”. – **N (Prayer School)** 13 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** “Wow! That was really good. I have learnt a lot already and I believe it will help me in my personal devotions”. – **K (Prayer School)** ## **January 2023** “Another wonderful Prayer Siege. So many great words for this new season” - **JP** ( **Prayer Siege** ) “Praise the Lord I watched this tonight and I just wanted to say this is so powerful! Thank you for your sacrifice and our loud declaration. It’s so refreshing to see true hearts on fire for God and representing the kingdom. I was the one that James prophesied a prayer for a family needing deliverance. My family and I have been estranged from my sister and husband and two children for 2 years we have not physically seen or talked with her. Praying for breakthrough and power on earth as it is in heaven. Praise God!”. – **C** ( **Prayer Siege** ) “God is always on time. Had a tough day yesterday, emotionally distraught. Called a counsellor then dozed off. Even missed my alarm to wake up for the 2nd night of Prayer Siege. But caught up this morning and it was exactly I needed.” - **Q (Prayer Siege)** “Just to mention also, & for encouragement, Jesus did a healing between my daughter & I the very next day. Thank you”. – **M** ( **All Night Prayer)** “NO WORDS...what an awesome time of prayer!!! Such a powerful prayer gathering!”. – **P** ( **All Night Prayer)** “Was so beautiful to be in the room. What an honour. I just felt so close to Jesus all night it was so powerful. I feel like I’m walking through heaven this morning”. – **J** ( **All Night Prayer)** “Hello again prayer storm team, I feel it just and fair to let you know that after my correspondence in 2016 asking for help with an addiction, I was able receive help from my local church by the grace of God. It's been years now since I've been completely set free, and I just wanted to thank you for your prayers since this is the first place I actually seeked help from, I strongly believe that your prayer set the foundation for my deliverance. Thank you, may God continue to bless Prayer Storm”. - **T** ( **Other)** ## **March 2023** I absolutely love this! The anointing is very tangible even online! - **N (Battle Ready with Apostle Arome Osayi)** My son has asthma and as we were praying stopped coughing - **B (Battle Ready with Apostle Arome Osayi)** 14 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** I am healed, I had a lump on my breast for years and its gone, glory to God - **W (Battle Ready with Apostle Arome Osayi)** Lower left abdomen pain and it's gone in Yeshua's Name - Unknown Healed of consistent headache - **B (Battle Ready with Apostle Arome Osayi)** While the prayer was on (Apostle Arome), I receive healing to the itching of my eyes and i can read well now. Glory to Jesus - **O (Battle Ready with Apostle Arome Osayi)** These three nights this week were absolute fire! And after the first night I was driving home with my husband, and I was like: - God there must be a warehouse somewhere that this ministry prayer storm can occupy. I even said that someone somewhere in Manchester, must own one that they could gift it to prayer storm. Anyway, tonight I couldn’t sleep and went into prayer at 3 after listening to part of this first night with the Apostle Arome again, and The Holy Spirit reminded me of a word given during one of the nights of the last Nazarite school. I vaguely remember a man of God say that God would bring in the funds for Prayer Storm. Was it a million he said? I believe God is saying it is time to pray this into existence NOW! - I am! Whether someone will donate the whole amount or donate a space I believe we The Prayer Storm prayer /followers, warriors etc must pray into this, as we have learned that we can manipulate the visible. I dare to say this is coming soon if we pray as we ought to Oh what a reward for all the work this ministry has put in over the many years The Holy Spirit did drop a name in my spirit but I am not sure so more prayer - **S (Battle Ready with Apostle Arome Osayi)** ## **April 2023** I've been having a terrible attack of depression lately which I haven't had in a long time. I started praying with Fatmohn and the other intercessors present and asked my 14year-old to pray with me too because I was really struggling. He then said "Mum the lady said we have to get up and start walking around as a symbolic act of moving from our current state to a better one. I did...and this is when the yoke of depression broke – **N (All day Prayer Siege)** Thank you for these prayers! During prayers, God set me free from unclean spirits that are strangling my finances. Praise God! – **J (All day Prayer Siege)** I have to testify! I was healed of a hand muscle ailment while listening to Knowledge of The Spirit by Apostle Arome and praying alongside. Thank You Lord – **T (The Spirit by Apostle Arome)** Wow! I can't stop playing this Prayer For The Bloodline!! Powerful prayer James!! Wow!! I have to sharing it with my brothers and sisters! Thanks James and to the Prayer Storm Family! U guys are my family! – **T (All day Prayer Siege)** 15 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** ## **June 2023** "For me I would say there were a lot of moments where the children were praying. I'm not usually emotional but today I couldn't help but want to cry at seeing God move through these kids" - **Parent (PSK Gathering)** "I want to really thank God because I've known & been following Prayer Storm for a long time since 2014. When I heard about this gathering, I was really excited about it. When I arrived this morning, I was so overwhelmed, and I cried all through my time here just seeing what God was doing and the presence of the Lord was so thick. I thank God for his outpouring today!" - **Parent (PSK Gathering)** "I loved doing the shouts like JESUS altogether!" - **Child (PSK Gathering)** "It was absolutely amazing! Thank you so much for organising this conference! We are so blessed!" - **N (PSK Gathering)** "Thank you so much for today! Incredible " - **J (PSK Gathering)** ## **Prayer Storm Live & Prayer Videos** "Thank you so much! The Lord met us here during this time and moved powerfully!" - J "Thank you for posting!!! I was so blessed by this prayer siege when it took place and recorded this segment so that I could keep it as part of my prayer arsenal. POWERFUL!!!" - **P** 16 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** ## **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 £329,098 (2022: £349,033). In 2022 that final instalment of the Stewardship grant of £127,500 was received. The costs went up to £357,968 (2022: £303,936) 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 £249,050 (2022: £164,210). Income from Trading activities were £21,848 (2022: £22,412). Income from Grant funding was £0 (2022: £127,500). The costs of raising funds amounted to £17,584 (2022: £14,756), and the costs of fund generating activities were £10,846 (2022: £ 13,377) 'Income from Charitable activities' in the accounts shown as 57,447 (2022: £162,388) includes £21,848: £19,306) of speaking fees. ## **Governance** The £1,015 ‘governance’ costs include some costs associated with independent examination of the accounts £0 (2022: 0). 17 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** ## **Surplus** Total of the resources expended exceeded the incoming resources in the period by £28,870 (2022: £45,097 surplus) and £241,979 is held as unrestricted funds and £108,058 is held in restricted funds towards the completion of the Prayer Storm App and the Prayer Storm building. ## **Balance Sheet** The Balance Sheet as at 31 August 23 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 Audio, Video , IT and Equipment valued at £56,517 (2022: £96,388) ## **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: 18 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** - Wind up the charity in an orderly manner and make appropriate arrangements for beneficiaries should that become necessary. - To allow a sufficient time to secure alternative funding sources should funding be substantially reduced. - To provide for the purchase of replacement assets as they become required. Should the charity have to wind up the trustees consider a reserve of £144,500 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 £236,450 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 2023 the charity held free reserves of £183,362. 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. 19 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** ## **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: - The implementation of procedures for authorisation of all transactions and projects. - Security of our IT networks, access control and malware detection minimise the potential risk of a cyber security breach. - Procedures are in place to ensure compliance with legislation, regulation, codes of practice and standards. - All procedures are reviewed periodically to ensure that they continue to meet the needs of the charity. 20 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** ## **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. - All Prayer Storm’s Trustees have valid DBS clearance certification. - All Prayer Storm’s Trustees have undergone Safeguarding Awareness Training for Trustees 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. 21 ## **REPORT OF THE TRUSTEES 31 AUGUST 2023** ## 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 £15,279 these gifts were given freely without any third-party benefit being received from any organisations and charities. 22 ## **REPORT OF THE TRUSTEES** ## **31 AUGUST 2023** ## PLANS FOR FUTURE PERIODS - Increase in prayer meetings online/in person. - Increase More Pre-recorded Online Content (i.e. more prayer capacity building videos and short teachings) - Brand new collection of Merch - Organise Live events. Furnaces / James Kawalya 2x conferences in March / Nazarite course with Rob Sharp / All Day Prayer / PS kids conference / Revival Nights July / Arome event / Prayer Camp August - Increased travelling for James and Matt (Rebecca will be on maternity leave) - 'Boys of Eden' short film to be released...(on final stage now) - Continue to build strong relationships with Churches/Ministries in UK and beyond with Prayer Storm DNA 23 ## **REPORT OF THE TRUSTEES YEAR ENDING 31 AUGUST 2023 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: - 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. 24 **REPORT OF THE TRUSTEES YEAR ENDING 31 AUGUST 2023** ## **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: 13 February 2024 25 ## **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 2023. ## **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 _14 February 2024_ 6 Hulme Hall Avenue Cheadle Hulme SK8 6LN 26 ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **YEAR ENDING 31 AUGUST 2023** |Note
Unrestricted
Funds
**INCOMING RESOURCES**
£
Incoming resources from generating funds:
Donations and legacies
2a
249,050
Other income from Charitable activities
2b & 2c
57,447
Other Trading income
2d
21,848
Investment Income
2e
753
**TOTAL INCOMING RESOURCES**
329,098
**RESOURCES EXPENDED**
Charitable Activities
3
334,803
Governance Costs
5
1,015
**TOTAL RESOURCES EXPENDED**
335,818
**NET(OUTGOING)/INCOMING**
**RESOURCES BEFORE TRANSFERS**
(6,720)
**TRANSFERS**
Gross Transfer between Funds
3,862
**NET MOVEMENT IN FUNDS**
(2,858)
Total Funds Brought Forward
244,837
**TOTAL FUNDS CARRIED FORWARD**
241,979
Note
Unrestricted
Funds
£
**INCOMING RESOURCES**
328,345
**TOTAL RESOURCES EXPENDED**
(335,818)
**OPERATING SURPLUS**
(7,473)
**OTHER INCOME**
Investment Income
2d
753
**DEFICIT FOR THE FINANCIAL YEAR**
(6,720)|Note
Unrestricted
Funds
**INCOMING RESOURCES**
£
Incoming resources from generating funds:
Donations and legacies
2a
249,050
Other income from Charitable activities
2b & 2c
57,447
Other Trading income
2d
21,848
Investment Income
2e
753
**TOTAL INCOMING RESOURCES**
329,098
**RESOURCES EXPENDED**
Charitable Activities
3
334,803
Governance Costs
5
1,015
**TOTAL RESOURCES EXPENDED**
335,818
**NET(OUTGOING)/INCOMING**
**RESOURCES BEFORE TRANSFERS**
(6,720)
**TRANSFERS**
Gross Transfer between Funds
3,862
**NET MOVEMENT IN FUNDS**
(2,858)
Total Funds Brought Forward
244,837
**TOTAL FUNDS CARRIED FORWARD**
241,979
Note
Unrestricted
Funds
£
**INCOMING RESOURCES**
328,345
**TOTAL RESOURCES EXPENDED**
(335,818)
**OPERATING SURPLUS**
(7,473)
**OTHER INCOME**
Investment Income
2d
753
**DEFICIT FOR THE FINANCIAL YEAR**
(6,720)|Restricted
Funds
£
0
0
0
0
0
22,150
0
22,150
(22,150)
(3,862)|**Total**
Total
**2023**
2022
**£**
£
**249,050**
164,209
**57,447**
162,388
**21,848**
22,412
**753**
23
**329,098**
349,033
**356,953**
302,957
**1,015**
979
**357,968**
303,936
**(28,870)**
45,097
**0**
0
**(28,870)**
45,097
**378,907**
333,810
**350,037**
378,907
**Total**
Total
**2023**
2022
**£**
£
**328,345**
349,010
**(357,968)**
(303,936)
**(29,623)**
45,074
**753**
23
**(28,871)**
45,097| |---|---|---|---| ||329,098||| ||334,803
1,015||| ||335,818||| ||(6,720)
3,862||| ||(2,858)
244,837
241,979
Unrestricted
Funds
£
328,345
(335,818)
(7,473)
753
(6,720)|(26,012)
134,070
108,058
Restricted
Funds
£
0
(22,150)
(22,150)
0
(22,150)|| 27 ## **BALANCE SHEET** ## **As at 31 AUGUST 2023** |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
**2023**
2022
**£**
£
**56,517**
96,388
**2,100**
2,100
**58,617**
98,488
**5,310**
5,050
**6,064**
7,310
**298,607**
281,007
**309,981**
293,367
**18,561**
12,948
**291,420**
280,419
**350,037**
378,907
**350,037**
378,907
**108,058**
134,070
**183,362**
146,349
**58,617**
98,488
**350,037**
378,907| |---|---| These financial statements were approved by the trustees on 13 February 24 and signed on their behalf by: --------------------------------------------- Paul Booth -Trustee 28 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDING 31 AUGUST 2023** ## **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. 29 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDING 31 AUGUST 2023** _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. 30 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDING 31 AUGUST 2023** ## **Current Assets** Amounts owing to the charity at 31 August 2023 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 amount of £108,058 was unspent at the end of the financial year. 31 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDING 31 AUGUST 2023** **----- Start of picture text -----**
Unrestricted Restricted Total Total
Funds Funds 2023 2022
£ £ £ £
2a Donations and legacies
Gifts Individuals 210,196 0 210,196 129,191
Gifts Churches & Ministries 13,894 0 13,894 7,032
Gifts Business 254 0 254 670
Gifts Trusts & Foundations 0 0 0 0
Gifts in Kind 15 0 15 0
Tax Refund 24,691 0 24,691 27,316
249,050 0 249,050 164,209
2b Grant Funding
Government Grants 0 0 0 0
Other Grants 0 0 0 127,500
0 0 0 127,500
2c Other Income from charitable Activities
Event Income 3,700 0 3,700 3,559
Teaching and Training income 14,214 0 14,214 11,974
Equipment Hire 0 0 50
Speaking fees 39,533 0 39,533 19,306
57,447 0 57,447 34,888
2d Other Trading Income
Trading Sales 21,848 0 21,848 22,412
21,848 0 21,848 22,412
2e Investment Income
Bank Interest Received 753 0 753 23
753 0 753 23
TOTAL INCOMING RESOURCES 329,098 0 329,098 349,033
**----- End of picture text -----**
32 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDING 31 AUGUST 2023** ## **3. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE** **----- Start of picture text -----**
Unrestricted Restricted Total Total
Funds Funds 2023 2022
£ £ £ £
335,818 22,150 357,968 303,936
Costs of Direct Charitable Activities 335,818 22,150 357,968 303,936
4. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITIES TYPE
Activities
Undertaken Support Total Total
Directly Costs 2023 2022
£ £ £ £
Costs of Generating Voluntary income 17,584 17,584 14,756
Costs of Fund Generating Activities 10,846 10,846 13,377
Costs of Charitable Activities 328,523 328,523 274,824
Governance costs 0 1,015 1,015 979
356,953 1,015 357,968 303,936
**----- End of picture text -----**
## **5. GOVERNANCE COSTS** ||Unrestricted
Funds
£|**Total**
Total
**2023**
2022
£
£| |---|---|---| |||| |Other Governance costs|1,015|**1,015**
979| ||1,015|**1,015**
979| ## **6. NET OUTGOING RESOURCES FOR THE YEAR** ||**Total**|Total| |---|---|---| |This is stated after charging|**2023**|2022| ||£|£| |Depreciation of owned assets|**45,159**|44,691| 33 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDING 31 AUGUST 2023** ## **7. INFORMATION REGARDING TRUSTEES AND EMPLOYEE** |**7. INFORMATION REGARDING TRUSTEES AND EMPLOYEE**||| |---|---|---| |**Employee costs during the year:**
Wages and salaries
Social security costs
Pension costs
**Average number of staff employed:**
Raising funds and Charitable Activities|**Total**
**2023**
£
**140,050**
**1,526**
**1,924**
**143,500**
**No.**
**11**
**11**|Total
2022
£
130,292
4,052
1,743| |||136,087| |||| |||No.| |||11| |||11| No of employees receiving remuneration of more than £60,000 during the year nil (2022: £Nil) The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £63,739 (2022: £52,586). The charity trustees were neither paid nor received any other benefits from employment with the charity in the year nil (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity nil (2022: £nil). Trustees' expenses represent the payment or reimbursement of travel and subsistence costs totalling nil (2022: £nil) incurred by Trustees relating to attendance at board meetings. 34 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDING 31 AUGUST 2023** ## **8a. Tangible Fixed Assets** |**8a. Tangible Fixed Assets**||||||||| |---|---|---|---|---|---|---|---|---| ||**2023**
**2023**
**£**
**£**|||**2023**
**2023**
**Total**
**£**
**£**
**£**||||| ||IT Infrastructure
Audio Equipment|||Video Equipment
Fixtures& Fittings||||| |Cost
at 1 September 2022
Additions
Disposals
at 31 August 2023
Depreciation
at 1 September 2022
Charge for year|76,779
3,968
0
80,747
31,131
18,311|27,379
1,320
0
28,699
13,139
6,939||85,751
0
0
85,751
49,602
19,741||674
**190,583**
0
**5,288**
0
**0**
674
**195,871**
323
**94,195**
168
**45,158**||| |Disposals|0|0||0||0
**0**||| |at 31 August 2023
**Net Book Value at 31 August 2023**
**at 31 August 2022**
**8b. Intangible Fixed Assets**
Cost
at 1 September 2022
Additions
Disposals|49,442
31,305
45,648|20,078
8,621
14,240||69,343
16,408
36,149||490
**139,353**
184
**56,517**
351
**96,388**
**2023**
**Total**
**£**
**£**
2100
**2100**
0
**0**
0
**0**||| |||||||||| |at 31 August 2023||||||2,100||**2,100**| |Depreciation
at 1 September 2022
Charge for year
Disposals||||||0
**0**
0
**0**
0
**0**||| |at 31 August 2023||||||0||**0**| |**Net Book Value** at 31 August 2023||||||2100
**2100**||| |||||||||| |||||||||| |**at 31 August 2022**||||||2,100||**2,100**| 35 ## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDING 31 AUGUST 2023** ## **9. Stocks** |Stocks of finished goods and goods for resale
**10. Debtors**
Trade Debtors
Prepayments
Accrued income
Other Debtors|**2023**
2022
**£**
£
**5,310**
5,050
**5,310**
5,050
**2023**
2022
**£**
£
**0**
2,704
**2,993**
2,624
**3,072**
1,982
**0**
0
**6,064**
7,310| |---|---| ## **11. Cash at Bank & In Hand** |Current Account
Savings Account|**2023**
2022
**£**
£
**67,452**
41,909
**231,155**
239,099
**298,607**
281,007| |---|---| ## **12. Creditors : Amounts falling due within one year** |Bank loans, Credit cards & Overdrafts
Trade creditors|**2023**
2022
**£**
£
**1,248**
1,341
**2,745**
2,835| |---|---| |Other creditors including taxation|| |and social security
Accruals and deferred income|**1733**
910
**12,835**
7,862
**18,561**
12,948| 36 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDING 31 AUGUST 2023** ## **13.RECONCILIATION OF MOVEMENTS IN FUNDS** |**13a. Restricted Funds**
**13b. Unrestricted Funds**
General Fund - Free Reserves
Designated - Fixed Assets
**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
Balance at
01-Sep-22
£
134,070

146,349
98,488
378,907|Incoming
£
127,500
221,533
0
349,033
Incoming
£
0
329,098
0
329,098
**Movement**
**Movement**|Outgoing
£
(68,891)
(235,045)
0
(303,936)
Outgoing
£
(22,150)
(335,818)
0
(357,968)
**in Resources**
**in Resources**|Transfers
Between
**Balance at**
Funds
**31-Aug-22**
£
**£**
(5,237)
**134,070**
37,919
**146,349**
(32,682)
**98,488**
0
378,907
Transfers
Between
**Balance at**
Funds
**31-Aug-23**
£
**£**
(3,862)
**108,058**
43,733
**183,362**
(39,871)
**58,617**
**350,037**| |---|---|---|---|---| The General funds include designated funds of Fixed Assets valued at £58,617 and Free reserves of £183,362. The £108,058 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. 37 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDING 31 AUGUST 2023** ## **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|0
56,517|£
108,058
183,362|£
£
0
**108,058**
0
**241,979**| ||||||| ||||||| |||2,100|56,517|291,420|0
**350,037**| ## **15. OPERATING LEASE COMMITMENTS** |**15. OPERATING LEASE COMMITMENTS**||||| |---|---|---|---|---| ||**2023**|**2023**|**2022**|**2022**| ||**Land and**||Land and|| ||**Buildings**|**Other**|Buildings|Other| ||**£**|**£**|£|£| |Leases which expire:||||| |Not later than one year|**0**|**5,708**|0|3,777| |Later than one year and not later than five years|**0**|**12,943**|0|4,091| 38 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDING 31 AUGUST 2023** ## **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 £12,655 (2022: £11,380) ## **17. CONTINGENCIES** The Trustees have confirmed that there were no contingencies liabilities which should be disclosed at 31 August 2023 ## **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. 39