Charity registration number: 1192589
PROPHETIC VOICE
Annual Report and Financial Statements for the Year Ended 31 December 2021
Contents
| Contents | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 11 |
Reference and Administrative Details
Trustees
Dr Sharon Lynn Stone Richard Michael Bingham David Oluwatobiloba Arayomi Gregory Lee Black
Principal Office
4 Black Horse Yard Park Street Windsor SL4 1LA
Charity Registration Number
1192589
Independent Examiner
Kolade Andrew Alli ACMA KARE Financial Management Consultants Ltd 10 Gatcombe Gardens West End Hampshire SO18 3NA
Page 1
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2021.
Objects
TO ADVANCE THE CHRISTIAN FAITH IN ACCORDANCE WITH THE STATEMENT OF BELIEFS APPEARING IN THE SCHEDULE HERETO ATTACHED MAINLY, BUT NOT EXCLUSIVELY, THROUGH THE HOLDING OF ONLINE-CHURCH SERVICES AND PROVISION OF EDUCATION IN THE SUBJECTS OF RELIGION AND CHURCH LEADERSHIP TO ENLIGHTEN OTHERS ABOUT THE CHRISTIAN FAITH.
Achievements and performance
Prophetic Voice received its charity status on the 30th of November 2020. It has been in full operation for 2021. We were unable to get our own bank accounts. No banks were holding interviews for new accounts, during lockdown. Our interview was postponed until 28th of June. As a result, there was a transferring of funds from CIE (the initial charity) throughout the year. These finances were being separated by categories within CIE before this time.
Prophetic Voice hosted 12 “Encounter Sundays”, all on the internet and gathered also by the 1st Sunday in September. These average 180 people gathered and 1,000 internet viewers. We have hosted 12 “Mentoring Days” on a zoom type platform called “We-Webinar”. The average participants were 300-500 monthly.
Dr. Sharon Stone has also taught via zoom 3 of her own courses to help build and mature the lives of Christians. Each of these courses were each 6-8 weeks. The course titles were “Advancing in the Prophetic”, “Seven Times More” and “Watchmen and Intercessors”. These are Dr Stone’s Intellectual Properties, which she chose to bless Prophetic Voice viewers with. She generously gave a 10th of the course’s income to Prophetic Voice charity.
Prophetic Voice has had a strong launch in 2021, even with gathering restrictions
Page 2
Trustees' Report
Financial Review
Sufficient reserves are required in order to ensure the viability of
the charity in the following areas:
-
To provide day-to-day working capital.
-
To maintain any future charity property.
-
For protection against a decline in income that cannot be easily matched by a reduction in expenditure.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
The annual report was approved by the trustees of the charity on 8 June 2022 and signed on its behalf by:
......................................... Dr Sharon Lynn Stone Chair of Trustees
......................................... Greg Black Trustee
Page 3
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on 8 June 2022 and signed on its behalf by:
......................................... Dr Sharon Lynn Stone Chair of Trustees
......................................... Greg Black Trustee
Page 4
Independent Examiner's Report to the trustees of PROPHETIC VOICE
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 6 to 11.
Respective responsibilities of trustees and examiner
As the charity’s trustees of PROPHETIC VOICE 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 PROPHETIC VOICE'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
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:
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accounting records were not kept in respect of PROPHETIC VOICE as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
...................................... Kolade Andrew Alli ACMA
KARE Financial Management Consultants Ltd 10 Gatcombe Gardens West End Hampshire SO18 3NA
- 8 June 2022
Page 5
Statement of Financial Activities for the Year Ended 31 December 2021
| Statement of Financial Activities for the Year Ended 31 December 2021 |
Statement of Financial Activities for the Year Ended 31 December 2021 |
|---|---|
| Unrestricted funds Total 2021 |
|
| Note £ £ |
|
| Income and Endowments from: | |
| Charitable activities | 177,980 177,980 |
| Expenditure on: | |
| Charitable activities | (126,942) (126,942) |
| Total expenditure | |
| (126,942) (126,942) |
|
| Net income | |
| 51,038 51,038 |
|
| Net Transfer of funds to CIE & MYCHURCH Charity | (14,042) (14,042) |
| Net movement in funds | |
| 36,996 36,996 |
|
| Reconciliation of funds | |
| Total funds carried forward 8 |
|
| 36,996 36,996 |
All of the charity's activities derive from continuing operations during the above period.
Page 6
(Registration number: 1192589) Balance Sheet as at 31 December 2021
| (Registration number: 1192589) Balance Sheet as at 31 December 2021 |
(Registration number: 1192589) Balance Sheet as at 31 December 2021 |
|---|---|
| 2021 | |
| Note £ |
|
| Current assets | |
| Cash at bank and in hand 6 |
40,259 |
| Creditors: Amounts falling due within oneyear 7 |
|
| (3,263) | |
| Netassets | |
| 36,996 | |
| Funds of the charity: | |
| Unrestricted income funds | |
| Unrestricted funds | 36,996 |
| Total funds 8 |
|
| 36,996 |
The financial statements on pages 6 to 11 were approved by the trustees, and authorised for issue on 8 June 2022 and signed on their behalf by:
......................................... Dr Sharon Lynn Stone Chair of Trustees
......................................... Greg Black Trustee
Page 7
Notes to the Financial Statements for the Year Ended 31 December 2021
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
PROPHETIC VOICE meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.
Page 8
Notes to the Financial Statements for the Year Ended 31 December 2021
2 Income from charitable activities
| 2 Income from charitable activities |
|
|---|---|
| Unrestricted | |
| funds Total |
|
| General 2021 |
|
| £ £ |
|
| Donations | 173,427 173,427 |
| Income from books & other resources | 188 188 |
| Income from conferences | 1,463 1,463 |
| Income from Prophetic Voice Products | 2,902 2,902 |
| 177,980 177,980 |
Page 9
Notes to the Financial Statements for the Year Ended 31 December 2021
3 Expenditure on charitable activities
| 3 Expenditure on charitable activities |
|||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | ||
| General | 2021 | ||
| £ | £ | ||
| Advertising | 4,277 | 4,277 | |
| Audio Expenses | 2,087 | 2,087 | |
| Wages and salaries | 9,353 | 9,353 | |
| Vehicle expenses | 796 | 796 | |
| Video and visual expenses | 17,279 | 17,279 | |
| Manse Costs | 7,981 | 7,981 | |
| Direct Ministry Expenses | 10,469 | 10,469 | |
| IT Software and consumables | 3,527 | 3,527 | |
| Honorarium | 45,490 | 45,490 | |
| Equipment | 475 | 475 | |
| Food and Hospitality | 1,436 | 1,436 | |
| Social Media and Live Streaming costs | 1,004 | 1,004 | |
| Office Expenses | 3,261 | 3,261 | |
| Premises Cost | 413 | 413 | |
| Research Materials, Books and Publication | 480 | 480 | |
| Web Maintenance and Hosting | 6,664 | 6,664 | |
| Repairs and maintenance | 200 | 200 | |
| Printing, postage and stationery | 2,315 | 2,315 | |
| Travel and subsistence | 2,732 | 2,732 | |
| Independent examiner's fee | 1,250 | 1,250 | |
| Bank charges | 5,453 | 5,453 | |
| 126,942 | 126,942 |
4 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Dr Sharon Lynn Stone
Dr Sharon Lynn Stone received honorarium of £41,490 during the year.
Page 10
Notes to the Financial Statements for the Year Ended 31 December 2021
5 Taxation
The charity is a registered charity and is therefore exempt from taxation.
6 Cash and cash equivalents
2021 £ Cash at bank 40,259
| 7 Creditors: amounts falling due within one year |
|||
|---|---|---|---|
| 2021 | |||
| £ | |||
| Other loans | 2,000 | ||
| Other creditors | 13 | ||
| Accruals | 1,250 | ||
| 3,263 |
8 Funds
| Net Transfer of funds to CIE & Balance at 31 |
|
|---|---|
| Incoming Resources MYCHURCH December |
|
| resources expended Charity 2021 |
|
| £ £ £ £ |
|
| Unrestricted funds | |
| General | |
| 177,980 (126,942) (14,042) 36,996 |
Page 11