REGISTERED CHARITY NUMBER: 1190428
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for Invictus Prophetic Network
Salisbury & Company Chartered Accountants Irish Square Upper Denbigh Road St Asaph Denbighshire LL17 0RN
Invictus Prophetic Network
Contents of the Financial Statements for the year ended 31 December 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Invictus Prophetic Network
Report of the Trustees for the year ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Invictus Prophetic Network is a gathering place for both established and emerging prophets. The charity's objectives and aims are to equip and empower these prophetic voices around the world.
To advance the Christian faith for the benefit of the public in accordance with the evangelical alliance basis of faith, by partnering with churches, mission groups, NGOs globally the advancement of education - to deliver teaching on the prophetic giftings in particular but not exclusively, by use of information, media, such as the internet, radio, TV seminars, conferences, lectures, written material, and other appropriate means, the relief of poverty.
Public benefit
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit:running a charity (PB2)'
Volunteers
The Network is grateful to all individuals and organizations who have contributed to the overall income and success of projects undertaken.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Charity has two main operations: the academy and a mentoring service.
The academy aims to serve you in a way that will support your expansion of awareness and deepening abilities to walk according to the mandate God has placed its students. This has seen a successful start and should continue to grow.
The mentoring service has recently been launched and is designed for prophets and prophetic people interested in pushing through into all that God has for them. Again, initial sign-ups are positive and the trustees are hopeful that this will prove a beneficial to its participants.
FINANCIAL REVIEW
Financial position
During the financial period the Charity has generated incoming resources of £57,298 (2023: £75,763).
Resources expended amounted to £59,496 (2023: £86,934). The deficit for the year amounted to £2,198 (2023: £11,171).
Within the amounts above there is restricted income and a surplus of £107 (2023: Surplus of £1,658).
Going concern
The accounts have been prepared on a going concern basis. Despite the deficit being generated for the year, the Trustees remain confident that the charity is a going concern. The Trustees are of the view that the level of reserves and donations will support the charity going forward.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Charity is governed by a Constitution, adopted 24 February 2020.
Recruitment and appointment of new trustees
The Constitution has no provisions for recruiting new Trustees, other than by recommendation by existing trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1190428
Page 1
Invictus Prophetic Network
Report of the Trustees for the year ended 31 December 2024
Principal address
75 Waterloo Avenue Leiston Suffolk IP16 4HN
Trustees
Ms R A Sendall-King Mr R G Parry (appointed 27/1/24) Ms H J Clayton Mr P Barrett Mr S Cummins
Independent Examiner
Salisbury & Company Chartered Accountants Irish Square Upper Denbigh Road St Asaph Denbighshire LL17 0RN
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Trustee
Page 2
Independent Examiner's Report to the Trustees of Invictus Prophetic Network
Independent examiner's report to the trustees of Invictus Prophetic Network
I report to the charity trustees on my examination of the accounts of Invictus Prophetic Network (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jason Matischok
Salisbury & Company Chartered Accountants Irish Square Upper Denbigh Road St Asaph Denbighshire LL17 0RN
Date: .............................................
Page 3
Invictus Prophetic Network
Statement of Financial Activities for the year ended 31 December 2024
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 23,975 10,202 Charitable activities Invictus Prophetic Global Academy 23,106 - Investment income 2 - 15 Total 47,081 10,217 EXPENDITURE ON Charitable activities Invictus Prophetic Global Academy 49,384 10,110 NET INCOME/(EXPENDITURE) (2,303) 107 RECONCILIATION OF FUNDS Total funds brought forward 2,665 1,658 TOTAL FUNDS CARRIED FORWARD 362 1,765 |
2024 Total funds £ 34,177 23,106 15 57,298 59,494 (2,196) 4,323 2,127 |
2023 Total funds £ 22,550 53,205 8 75,763 86,934 (11,171) 15,494 4,323 |
|---|---|---|
The notes form part of these financial statements
Page 4
Invictus Prophetic Network
Balance Sheet 31 December 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible assets | 5 | 170 | - | 170 | 505 | |
| CURRENT ASSETS | ||||||
| Debtors | 6 | 458 | - | 458 | 447 | |
| Cash at bank | 1,523 | 1,765 | 3,288 | 4,590 | ||
| 1,981 | 1,765 | 3,746 | 5,037 | |||
| CREDITORS | ||||||
| Amounts falling due within one year | 7 |
(1,789) | - | (1,789) | (1,219) | |
| NET CURRENT ASSETS | 192 | 1,765 | 1,957 | 3,818 | ||
| TOTAL ASSETS LESS CURRENT | LIABILITIES | 362 | 1,765 | 2,127 | 4,323 | |
| NET ASSETS | 362 | 1,765 | 2,127 | 4,323 | ||
| FUNDS | 8 | |||||
| Unrestricted funds | 362 | 2,665 | ||||
| Restricted funds | 1,765 | 1,658 | ||||
| TOTAL FUNDS | 2,127 | 4,323 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 5
Invictus Prophetic Network
Notes to the Financial Statements for the year ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Interest Income | 15 | 8 |
3. TRUSTEES' REMUNERATION AND BENEFITS
Two of the Charity's Trustees receive remuneration for Lecturing. The total amounts paid to the Trustees during the year ended 31st December 2024 was £32,414 (2023: £20,948).
Trustees are also reimbursed for any travel costs incurred whilst carrying out charitable activities on behalf of the Charity.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
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Invictus Prophetic Network
Notes to the Financial Statements - continued for the year ended 31 December 2024
| 4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||||
| fund | fund | funds | |||||
| £ | £ | £ | |||||
| INCOME AND ENDOWMENTS FROM | |||||||
| Donations and legacies | 20,900 | 1,650 | 22,550 | ||||
| Charitable activities | |||||||
| Invictus Prophetic Global Academy | 53,205 | - | 53,205 | ||||
| Investment income | - | 8 | 8 | ||||
| Total | 74,105 | 1,658 | 75,763 | ||||
| EXPENDITURE ON | |||||||
| Charitable activities | |||||||
| Invictus Prophetic Global Academy | 86,934 | - | 86,934 | ||||
| NET INCOME/(EXPENDITURE) | (12,829) | 1,658 | (11,171) | ||||
| RECONCILIATION OF FUNDS | |||||||
| Total funds brought forward | 15,494 | - | 15,494 | ||||
| TOTAL FUNDS CARRIED FORWARD | 2,665 | 1,658 | 4,323 | ||||
| 5. | TANGIBLE FIXED ASSETS | ||||||
| Computer | |||||||
| equipment | |||||||
| £ | |||||||
| COST | |||||||
| At 1 January 2024 and 31 December 2024 | 2,379 | ||||||
| DEPRECIATION | |||||||
| At 1 January 2024 | 1,874 | ||||||
| Charge for year | 335 | ||||||
| At 31 December 2024 | 2,209 | ||||||
| NET BOOK VALUE | |||||||
| At 31 December 2024 | 170 | ||||||
| At 31 December 2023 | 505 | ||||||
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||
| 2024 | 2023 | ||||||
| £ | £ | ||||||
| Trade debtors | 458 | 447 |
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continued...
Invictus Prophetic Network
Notes to the Financial Statements - continued for the year ended 31 December 2024
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Other creditors | 1,789 | 1,219 | ||
| 8. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1/1/24 | in funds | 31/12/24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 2,665 | (2,303) | 362 | |
| Restricted funds | ||||
| Missions Fund | 1,658 | 107 | 1,765 | |
| TOTAL FUNDS | 4,323 | (2,196) | 2,127 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 47,081 | (49,384) | (2,303) | |
| Restricted funds | ||||
| Missions Fund | 10,217 | (10,110) | 107 | |
| TOTAL FUNDS | 57,298 | (59,494) | (2,196) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1/1/23 | in funds | 31/12/23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 15,494 | (12,829) | 2,665 | |
| Restricted funds | ||||
| Missions Fund | - | 1,658 | 1,658 | |
| TOTAL FUNDS | 15,494 | (11,171) | 4,323 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 74,105 | (86,934) | (12,829) | |
| Restricted funds | ||||
| Missions Fund | 1,658 | - | 1,658 | |
| TOTAL FUNDS | 75,763 | (86,934) | (11,171) |
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continued...
Invictus Prophetic Network
Notes to the Financial Statements - continued for the year ended 31 December 2024
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1/1/23 | in funds | 31/12/24 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 15,494 | (15,132) | 362 | ||
| Restricted funds | |||||
| Missions Fund | - | 1,765 | 1,765 | ||
| TOTAL FUNDS | 15,494 | (13,367) | 2,127 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 121,186 | (136,318) | (15,132) |
| Restricted funds | |||
| Missions Fund | 11,875 | (10,110) | 1,765 |
| TOTAL FUNDS | 133,061 | (146,428) | (13,367) |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
10. UNRESTRICTED RESERVES
General
The general fund is for Unrestricted funds that are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purpose.
11. RESTRICTED RESERVES
Missions Fund
The missions fund is set up to collect monies donated specifically to be redistributed to those in need in Africa including widows in poverty.
Page 9
Invictus Prophetic Network
Detailed Statement of Financial Activities for the year ended 31 December 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 34,177 | 22,550 |
| Investment income | ||
| Interest Income | 15 | 8 |
| Charitable activities | ||
| Ministry school and mentoring dues | 23,106 | 53,205 |
| Total incoming resources | 57,298 | 75,763 |
| EXPENDITURE | ||
| Charitable activities | ||
| Postage and stationery | - | 152 |
| Honorarium and lecturers | 627 | 26,168 |
| Trustee lecturing | 32,414 | 20,948 |
| IT, computer and website | 3,309 | 10,537 |
| Travel expenses | 7,284 | 10,894 |
| Foreign exchange losses | 233 | 553 |
| Admin support | - | 1,182 |
| Conference expenses | 225 | 8,568 |
| Operating leases - hire of plant & machinery | - | 208 |
| Training resources | - | 600 |
| Kenya Missions | 8,000 | - |
| Computer equipment | 335 | 793 |
| Bank charges | 546 | 1,366 |
| Grants to individuals | 500 | - |
| 53,473 | 81,969 | |
| Support costs | ||
| Management | ||
| Advertising | - | 918 |
| Sundries | 1,680 | - |
| 1,680 | 918 | |
| Finance | ||
| Finance | 3,064 | 3,147 |
| Governance costs | ||
| Accountancy and legal fees | 1,277 | 900 |
| Total resources expended | 59,494 | 86,934 |
| Net expenditure | (2,196) | (11,171) |
This page does not form part of the statutory financial statements
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