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2024-05-31-accounts

Company registration number: 00225716 Charity registration number: 228941

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

Company Limited by Guarantee

FINANCIAL STATEMENTS AND

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MAY 2024

https://www.pwmi.org/

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

INDEX TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

Page
Legal and administrative information 1
Trustees' annual report(incorporating the directors' report) 2 - 6
Independent examiner's report to the trustees 7
Statement of financial activities(incorporating the income and expenditure account) 8
Balance sheet 9
Notes to the financial statements 10 - 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

LEGAL AND ADMINSTRATIVE INFORMATION

FOR THE YEAR ENDED 31 MAY 2024

Registered charity name: Prophetic Witness Movement International Prophetic Witness Movement International
Trustees: D A Boreland - appointed 12 January 2024
Dr S Boreland (Chair)
K P Cowdrey
I L Jamieson
P Jones
Revd C J Le Noury
T Palmer
R J Salmon
W T Watson
J Williams
Company secretary: Revd C J Le Noury
Charity registration number: 228941
Company registration number: 00225716
Registered office address: 3 The Butts
Silchester
Reading
RG7 2QD
Charity website: https://www.pwmi.org/
Independent examiner: Lifestyles Accountancy Limited
39 Kirklees Road
Southport
PR8 4RB
Bankers: The Royal Bank of Scotland
60 Conduit Street
London
W1R 9FD
Solicitors: WNH Solicitors
1A Strawberry Bank
Preston New Road
Blackburn
BB2 6AA

Page 1 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

TRUSTEES' ANNUAL REPORT (incorporating the directors' report)

FOR THE YEAR ENDED 31 MAY 2024

The trustees submit their annual report and financial statements for the year ended 31 May 2024. The financial statements follow the requirements of the revised Charities Statement of Recommended Practice (FRS 102) (second edition - October 2019) – 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). For the purpose of charity law, directors are also the company’s trustees and are responsible for making all major decisions on behalf of the company and are referred to throughout this report as trustees.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a company limited by guarantee, registered in England and Wales and formed on 9 November 1927. It is governed by its memorandum and articles of association as amended by special resolutions dated 1 January 1966, 1 January 1970, 17 February 1971, 20 June 1972, 18 February 1997 and 16 May 2000.

The charity, being a company limited by guarantee, limits the liability of the guarantors to £1 each.

Recruitment and appointment of trustees

The board reviews its balance of skills periodically and seeks to appoint new trustees when skills gaps are identified. Appointment of trustees would first be considered through an application process and interview, followed by a majority board vote. Induction is provided by the current board and ongoing training is undertaken on an “as and when” basis.

Trustee induction and training

The current board of trustees provide any new trustee with an overview of the timetable of board meetings, copies of the recent minutes of meetings, the recent reports and financial statements and explains their general and specific responsibilities.

Risk management

The trustees are aware of their responsibility to identify and review all risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against each identified risk.

During the year the trustees reviewed the risks to which the charity is exposed and ensured that the systems in place were sufficient. They agreed that the systems are sufficient but remain aware of their responsibility and keep risk management as a permanent agenda item for all future meetings.

Page 2 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

TRUSTEES' ANNUAL REPORT (incorporating the directors' report) (continued)

FOR THE YEAR ENDED 31 MAY 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Related parties

During each trustee meeting a register of interests is taken to ensure that all possible related parties are known. Throughout the year there were no other known related party transactions beyond those recorded in the accounts at note 5 in the notes to the accounts.

As a number of the trustees are paid for services provided to the charity, but not for their role as charity trustee, all meetings to agree these payments and rates require the applicable trustee(s) to not be part of the vote.

OBJECTIVES AND ACTIVITIES

Objects of the charity

To herald and make known the coming again of the Lord Jesus Christ and to contend earnestly for the faith once delivered to the saints and in particular to do all such things as shall procure or tend to the dissemination and propagation in all lands of the doctrines contained in the memorandum of association.

ACHIEVEMENTS AND PERFORMANCE

Review and summary of the year

Our main activities are the publishing of PROPHETIC WITNESS magazine, the proclamation of our message through branch meetings, rallies, conferences, conventions and residential weekends, the sale of literature at these events and by mail order and propagation of our message worldwide via our website.

It is always a privilege to be able to report on the progress of the work and to look back over the past twelve months and see what has been accomplished for the Lord. The past year has largely been one of maintenance and consolidation but there have been encouraging sparks of life, especially overseas.

The work in the Philippines under Pastor Duane Advento continues to be fruitful and once again in addition to the child evangelism feeding programme, Duane has seen a number of converts through evangelistic endeavours resulting in numerous baptisms and the establishment of new local churches.

Likewise in Nigeria, Rev Thomas Udeh has continued with his Bible distribution programme which also has seen many converts and awakened interest in new spheres of influence. Earlier in the year our president Dr Alec Passmore returned to Romania for two weeks of Bible teaching among young pastors ,many of whom he has visited in previous years. He was accompanied on this visit by council member Iain Jamieson. Round about the same time, Rev Bryan Vidamour, chairman of our Guernsey branch answered a call to Croatia for two weeks of evangelistic and teaching meetings, during which there were also some remarkable conversions. We praise God that in all of these places the imminent return of our Lord is bearing eternal fruit.

Page 3 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

TRUSTEES' ANNUAL REPORT (incorporating the directors' report) (continued)

FOR THE YEAR ENDED 31 MAY 2024

ACHIEVEMENTS AND PERFORMANCE (continued)

Review and summary of the year (continued)

Here in the UK our teaching ministry has once again been beneficial through our branch system and through online ministry via Zoom. The online work has been largely through the efforts of council member Dr Charles Sommerville and through the northern area branches led by David Raby. It is hoped that both the branch work and the online ministry can be further extended in the future.

In September our Guernsey branch held an ambitious event with a week of teaching and evangelistic meetings. The latter being held in the island’s Performing Arts Theatre and supported by a number of local churches. In preparation for the event monthly prayer meetings were held throughout the year and every home in the island received invitation literature. Attendances were good and a number of responses were recorded. The meetings were addressed by Rev Ian Huxham & Rev Samson Jebuto.

During the month of May we enjoyed a visit from one of our vice presidents, Dr Arnold Fruchtenbaum of Ariel Ministries. He addressed both our fourth Blessed Hope conference held at North Cotes College in Grimsby, and also our Bournemouth Convention at Heathlands. Arnold’s ministry, as always, was well received providing insights into biblical understanding from a Jewish perspective.

We recently held a special council meeting to review the magazine in the light of our recent reader survey and also to look at ways of furthering the work and its message in the future. It is hoped that we will see further expansion between now and the Lord’s return.

I want to concluded with a scripture I have used before but which I believe continues to be relevant as it was written in the context of an imminent rapture, ‘Be steadfast, unmoveable always abounding in the work of the Lord, forasmuch as you know that your labour is not in vain, in the Lord’ 1 Cor 15 v 58.

Rev Colin Le Noury General Director

FINANCIAL REVIEW

Review and summary of the year

The results for the year and state of the charity's affairs at 31 May 2024 are set out in the financial statements on pages 8 to 16 showing income of £86,996 (2023 - £74,132) and expenditure of £84,302 (2023 - £88,982).

The charity recorded a surplus of £2,694 (2023 - £14,850 deficit) for the year bringing the total funds to an overall surplus of £25,593 (2023 - £22,899).

Page 4 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

TRUSTEES' ANNUAL REPORT (incorporating the directors' report) (continued)

FOR THE YEAR ENDED 31 MAY 2024

FINANCIAL REVIEW (continued)

Principal funding sources

The principal funding sources continue to be both the generous donations received from all the supporters of the charity, to which the trustees remain very grateful, and the sales revenue from the Prophetic Witness Magazine that is produced.

Reserves policy

The trustees have agreed that the reserves policy is to hold free unrestricted reserves to cover at least three months’ expenditure in the event that there is a significant reduction in income in order to offer continuity of service to its stakeholders. The trustees calculate this to be about £21,076.

At the year end there was a total of £21,690 available in unrestricted reserves. The trustees are of the opinion that this is deemed sufficient but feel it would be prudent to increase fundraising efforts in the coming year to ensure the position remains healthy.

PLANS FOR FUTURE PERIODS

The charity plans to continue its operations for the foreseeable future but to also pro-actively seek opportunity to start various new branches of operation that will aim to bolster the fulfilment of the charity's objectives.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping accounting records which 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. They 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.

Page 5 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

TRUSTEES' ANNUAL REPORT (incorporating the directors' report) (continued)

FOR THE YEAR ENDED 31 MAY 2024

APPROVAL

This report was approved by the board of trustees on …................... and signed on its behalf by:

………………………………

Revd C J Le Noury - Trustee and Secretary

Page 6 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF PROPHETIC WITNESS MOVEMENT INTERNATIONAL

FOR THE YEAR ENDED 31 MAY 2024

I report to the trustees on my examination of the financial statements of Prophetic Witness Movement International ('the charity') for the year ended 31 May 2024, which are set out on pages 8 to 16.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 that, in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Daniel Styles FCA (Independent examiner)

Dated: …....................

for and on behalf of Lifestyles Accountancy Limited 39 Kirklees Road, Southport, PR8 4RB

Page 7 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account)

FOR THE YEAR ENDED 31 MAY 2024

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2024 2024 2024 2023
Note £ £ £ £
INCOME FROM:
Donations and legacies 2.1 51,074 - 51,074 41,252
Charitable activities 2.2 30,109 4,777 34,886 32,039
Investment income 2.3 1,036 - 1,036 841
Total income: 82,219 4,777 86,996 74,132
EXPENDITURE ON:
Charitable activities 3.1 72,259 4,777 77,036 78,618
Support costs 3.2 6,883 - 6,883 9,404
Governance costs 3.3 383 - 383 960
Total expenditure: 79,525 4,777 84,302 88,982
-
NET INCOME / (EXPENDITURE): 2,694 2,694 (14,850)
Total funds brought forward 18,996 3,903 22,899 37,749
Total funds carried forward 21,690 3,903 25,593 22,899
----- End of picture text -----

The Statement of Financial Activities includes gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The Statement of Financial Activities also complies with the requirements for an Income and Expenditure account under the Companies Act 2006.

The notes on pages 10 - 16 form part of these financial statements.

Page 8 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

BALANCE SHEET

Company registration number: 00225716 Charity registration number: 228941

AS AT 31 MAY 2024

----- Start of picture text -----
2024 2023
Note £ £
Fixed assets
Tangible assets 6 893 1,190
Current assets
Stocks 7 5,396 5,394
Debtors 8 4,004 4,344
Cash at bank and in hand 32,682 28,405
42,082 38,143
Less: Current liabilities
Creditors falling due within one year 9 (17,382) (16,434)
Net current assets 24,700 21,709
Net assets 25,593 22,899
Reserves
Restricted funds 11 3,903 3,903
- -
Designated funds
12
Unrestricted funds 21,690 18,996
Total funds 25,593 22,899
----- End of picture text -----

For the year ending 31 May 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Trustees' responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on …................................, and are signed on behalf of the board by:

……………………………… ……………………………… P Jones - Trustee

Revd C J Le Noury - Trustee and Secretary

The notes on pages 10 - 16 form part of these financial statements.

Page 9 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

1 ACCOUNTING POLICIES

1.1 Charity information

Prophetic Witness Movement International is a private company limited by guarantee incorporated in England and Wales. The registered office address is 3 The Butts, Silchester, Reading, RG7 2QD.

1.2 Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Designated funds are those unrestricted funds set aside by the trustees for specific purposes.

Page 10 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MAY 2024

1 ACCOUNTING POLICIES (continued)

1.5 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles

25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

1.9 Cash or cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Page 11 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MAY 2024

1 ACCOUNTING POLICIES (continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2 INCOME

2.1
Donations and legacies
Donations and gifts
Gift aid tax recovered
Legacies received
2.2
Charitable activities
Prophetic Witness Magazine sales
Books and DVD sales
Convention income
2.3
Investment income
Bank interest received
Total income
Unrestricted
Restricted
Total
Funds
Funds
Funds
2024
2024
2024
£
£
£
47,887
-
47,887
3,187
-
3,187
-
-
-
51,074
-
51,074
23,727
-
23,727
6,382
-
6,382
-
4,777
4,777
30,109
4,777
34,886
1,036
-
1,036
1,036
-
1,036
82,219
4,777
86,996
Total
Funds
2023
£
38,377
2,445
430
41,252
26,747
5,292
-
32,039
841
841
74,132

Page 12 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MAY 2024

----- Start of picture text -----
3 EXPENDITURE
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2024 2024 2024 2023
£ £ £ £
3.1 Charitable activities
-
Prophetic Witness Magazine costs 29,520 29,520 29,648
Books and DVD costs 2,438 - 2,438 4,531
-
Consultancy and secretarial fees 37,070 37,070 34,514
Ministry gifts 950 - 950 2,360
Conference costs 2,281 4,777 7,058 7,565
72,259 4,777 77,036 78,618
3.2 Support costs
Premises costs 163 - 163 647
Promotion and advertising 25 - 25 637
Printing and stationery 846 - 846 153
-
Postage and telephone 1,872 1,872 3,020
Office equipment 398 - 398 312
Motor expenses 290 - 290 513
Costs of trustees' meetings 419 - 419 574
-
Bookkeeping and secretarial 2,469 2,469 3,120
Bank charges 104 - 104 31
Depreciation 297 - 297 397
-
6,883 6,883 9,404
3.3 Governance costs
Independent examination 370 - 370 960
Legal fees 13 - 13 -
383 - 383 960
Total expenditure 79,525 4,777 84,302 88,982
----- End of picture text -----

Page 13 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MAY 2024

4 EMPLOYEES

There were no employed staff during the year (2023 - none).

5 TRUSTEES AND RELATED PARTIES

During the year the following trustees were paid for services provided to the charity but not for their roles as trustee:

Consultancy and secretarial fees
Revd C J Le Noury
R J Salmon
J Williams
2024
£
24,460
7,810
4,800
37,070
2023
£
25,104
7,810
1,600
34,514

Also during the year trustees travel and other expenses totalling £419 (2023 - £574) were repaid to the trustees.

6 TANGIBLE FIXED ASSETS

Cost
At 1 June 2023
Additions
Disposals
At 31 May 2024
Depreciation
At 1 June 2023
Charge for the year
Disposals
At 31 May 2024
Net book value
At 31 May 2024
At 31 May 2023
Motor
Vehicles
£
5,030
-
-
5,030
3,840
297
-
4,137
893
1,190
Total
£
5,030
-
-
5,030
3,840
297
-
4,137
893
1,190

Page 14 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MAY 2024

----- Start of picture text -----
7 STOCKS
2024 2023
£ £
Books and DVD stock 5,396 5,394
5,396 5,394
8 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Gift aid tax recoverable 3,188 2,446
-
Prepayments 1,187
Other debtors 816 711
4,004 4,344
9 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Income received in advance 7,278 7,712
Other creditors 10,104 8,722
17,382 16,434
10 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Restricted Unrestricted Total Total
2024 2024 2024 2023
£ £ £ £
Tangible fixed assets - 893 893 1,190
Current assets 3,903 38,179 42,082 38,143
Current liabilities - (17,382) (17,382) (16,434)
3,903 21,690 25,593 22,899
----- End of picture text -----

Page 15 of 16

PROPHETIC WITNESS MOVEMENT INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MAY 2024

11
Philippines
Nigeria
India
Conference
RESTRICTED FUNDS
Balance at
Total
Total
31 May 2023
Income
Expenditure
£
£
£
2,928
-
-
875
-
-
100
-
-
-
4,777
(4,777)
3,903
4,777
(4,777)
Balance at
31 May 2024
£
2,928
875
100
-
3,903

The countries listed above represent the balance of specific donations received by the charity to be passed onto Christian ministry in those countries as and when the need arises. The conference simply represents monies received specifically to cover some of the costs of the annual conference.

12 UNRESTRICTED FUNDS

General fund Balance at
Total
Total
31 May 2023
Income
Expenditure
£
£
£
18,996
82,219
(79,525)
18,996
82,219
(79,525)
Balance at
31 May 2024
£
21,690
21,690

Page 16 of 16