People International Limited (A company limited by guarantee)
## Report and Financial Statements For the Year ended 31 December 2021
Charity Number 280036 Company Number 1466313
## **C O N T E N T S**
||**Page**|
|---|---|
|Report of the Council of Management|1|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Statement of Cash Flows|8|
|Notes to the Financial Statements|9|
|Income and Expenditure Account|14|
|**Full Name:**|People International Limited|
|---|---|
|**Charity Registration Number:**|280036|
|**Company Registration Number:**|01466313|
|**Address of Registered Office:**|72 Commercial Road|
||Paddock Wood|
||Tonbridge|
||Kent TN12 6DP|
|**Trustees:**|Mr N Prideaux|
||Mr R Goodwin|
||Mr S Harland|
||Mr A Wintersgill|
||Mrs R Graham (appointed 24 April 2021)|
||Mr M Simants (appointed 24 April 2021)|
|**Senior Management:**|Mr A Simms, UK Director|
|**Independent Examiner:**|T Lane|
||Director in M N Jenks & Co Ltd|
||72 Commercial Road|
||Paddock Wood|
||Tonbridge|
||Kent|
||TN12 6DP|
|**Bankers:**|Barclays Bank PLC|
||73-75 Calverley Road|
||Tunbridge Wells|
||Kent|
||TN1 2UZ|
||Saffron Building Society|
||Saffron House|
||1A Market Street|
||Saffron Waldon|
||Essex|
||CB10 1HX|
||Monmouthshire Building Society|
||Monmouthshire House|
||John Frost Square|
||Newport|
||South Wales|
||NP20 1PX|
|Solicitors:|Wellers|
||Tenison House|
||45 Tweedy Road|
||Bromley|
||Kent|
||R1 3NF|
PEOPLE INTERNATIONAL LIMITED
REPORT OF THE COUNCIL OF MANAGEMENT
## FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees have pleasure in submitting their report and accounts together with the consolidated financial statements of the charity for the year ending 31 December 2021, which are also prepared to meet the requirements for a trustees’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and 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 Standard applicable in the UK and Republic of Ireland (FRS 102, effective 1 January 2019).
## **Structure, Governance and Management**
## Governing Document
The company has no share capital, being limited by guarantee. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.
## Recruitment and Appointment of Council of Management
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Council of Management. Under the requirements of the Memorandum and Articles of Association the members of the Council of Management are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. After serving nine successive years in office a retiring member is required to stand down for a year before being eligible for re-election again. The nature of mission means that the charity’s work aims to serve the Christian Church. The Council of Management seeks to ensure that the needs of the Church are appropriately reflected through the diversity of the trustee body.
The Council of Management reviews its membership against a list of specific contribution areas that should be covered by at least one member. Membership is also reviewed against the skills and experience necessary for an ideal Council of Management.
## Trustee Induction and Training
Most trustees are already familiar with the practical work of the charity having been involved with the work in past years in various ways. Additionally, new trustees are provided with all relevant documentation concerning the charity and are fully briefed in order to familiarise themselves with the organisation. Briefings are led by the Council of Management and the Director and cover:
- The obligations of Council of Management members
- The future plans and objectives of the charity
- The context in which the charity operates
- Resourcing and the current financial position as set out in the latest published accounts.
## Risk Management
The Council of Management has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces.
External risks to funding have led to careful scrutiny of income and expenditure on an ongoing basis. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.
1
PEOPLE INTERNATIONAL LIMITED
## REPORT OF THE COUNCIL OF MANAGEMENT (CONTINUED)
## FOR THE YEAR ENDED 31 DECEMBER 2021
## Organisational Structure
People International Limited has a Council of Management of at least three members who meet quarterly and are responsible for the strategic direction and policy of the charity. At the end of 2021 the Committee had six members; during 2021 two members were appointed. The Committee membership is drawn from a variety of professional backgrounds relevant to the work of the charity.
A scheme of delegation is in place, and day to day responsibility for delivery rests with the Director within a framework of responsibilities and accountabilities set by the Council of Management. The Director is responsible to the trustees for ensuring that the charity achieves its specified objectives and that key performance indicators are met. The Director has individual supervision of the staff team and ensures that the team continues to develop their skills and working practices in line with good practice.
## Umbrella Organisation
People International Limited acts as the UK arm of an international network known as "People International". The People International network also has offices in the Netherlands, Germany, the USA, Australia, New Zealand and Canada. Each of these other offices is registered and has charitable status in its own country.
The governing body of the international movement is known as the International Council. People International Worldwide, which is a UK registered charity, has responsibility for implementing its decisions, as well as supporting the activities of each of the country offices. People International Limited is a member of Global Connections, a body that promotes best practice within the Christian Mission community.
## **Objectives and Activities**
The company’s object and principal activity is to advance religion by spreading and proclaiming the Gospel of Jesus Christ in accordance with the doctrinal statement set forth in Article 5 of the Articles of Association of the Company.
People International exists to unveil God’s glory to Central Asian Muslims by establishing and enabling his church.
People International Limited aims to fulfil its objectives through:
- a) Recruiting and preparing personnel to serve on both short and long term assignments and to encourage them through prayerful support.
- b) Providing funds to individuals and organisations engaged in furthering the objectives of People International Limited or to other individuals and organisations furthering similar objectives to People International Limited.
- c) Providing an advisory and training service.
- d) Setting up and establishing local churches.
- e) Distributing the Bible, literature and other media.
## **Achievements and Performance**
People International Limited is based in one office in Tunbridge Wells and at the end of 2021 was staffed by one full-time and three part-time members of staff (one full-time member of staff left the company during 2021).
People International Limited supported seventeen individuals who are engaged in ministry in various locations across Central Asia or working with the Central Asia diaspora. There are currently six members preparing to serve in Central Asia in the near future. Despite the ongoing Covid pandemic, nearly all our field workers remained in situ, and the work of recruitment resulted in field workers rising from fourteen at the end of 2020 to seventeen at the end of 2021, with further workers accepted and in preparation.
2
PEOPLE INTERNATIONAL LIMITED
## REPORT OF THE COUNCIL OF MANAGEMENT (CONTINUED)
## FOR THE YEAR ENDED 31 DECEMBER 2021
Funds totalling £235,427 were spent in support of overseas members directly engaged in the ministry of the organisation and £6,302 given to ministries of the People International network worldwide.
Gifts and donations totalling £53,757 were also made to projects closely associated with People International field members.
People International agreed a Five-Year Strategic Plan, commencing in January 2020, which sets out the future vision, direction and anticipated activities of the organisation in the coming years. This was reviewed at the end of 2021 with substantial progress made, despite the challenges of Covid, lockdowns and working from home.
The Council of Management assesses the effectiveness of the charity against the following Ends and is satisfied that good progress is being made in achieving them:
- a) Central Asian people hear faithful, engaging and appropriate proclamations of the gospel in their own languages.
- b) The Bible is made available to all language groups in versions which are accurate.
- c) Central Asian believers grow to maturity in the faith.
- d) Christians respond to being sent into ministry to Central Asian people.
- e) Ministers are effectively trained in gospel ministry to Central Asian people.
- f) Ministers persevere in faithful ministry, outreach and godly living.
- g) Ministers and ministries are properly resourced.
- h) Central Asian people experience the love of Christ through the good deeds of Christians.
- i) Many more people and churches in the UK pray for Central Asia and its people.
- j) There is a significant increase in understanding of, and concern for, Central Asia and its people.
- k) Central Asian churches and parachurch organisations achieve appropriate levels of independence from People International.
The Trustees have complied with the duty in section 4 of the 2006 Charities Act to have due regard to the public benefit guidance published by the Charity Commission.
## **Financial Review**
People International is grateful for the dedicated financial and prayerful support of its supporters. This financial support, along with the aid of sound financial management and the support of its staff generated a satisfactory outcome.
The charity finished the year with a net surplus of £45,414 arising mainly on restricted funds. Unrestricted funds, used for the general purposes of the charity, finished the period with a net decrease of £1,340. The growth in restricted funds reflects some project funding unspent at year end, together with field worker drawings lower than prior year. The small reduction in unrestricted funds reflects lower levels of one-off gifts from donors, which has been offset by reduced expenditure. A surplus of unrestricted funds remains, which is largely attributable to a postponement of expenditure due to the Covid pandemic. We plan to see this surplus reduce during 2022 as a period of accelerated catch-up takes place.
Total income for the year fell by 9.3% from 2020 but was only 3.4% below the pre-Covid level of income in 2019. The first six months of 2022 have seen an overall decrease in giving to the charity by approximately 16% compared with the previous year, excluding legacies. However, expenditure continues the pattern of postponement due the Covid pandemic, resulting in a small increase in general funds. With cash in hand of £47,505 (30[th] June 2022) over and above the target reserves level, the trustees made the following statement as recorded in their meeting of 22[nd] August 2022: “People International is in a good state of financial health and remains a viable and solvent company at this point in time and we expect this to continue to be the case for the year following the AGM in 2022. The level of donations continues to hold up through the pandemic and this, combined with the strong reserves held, gives us every confidence in the solvency of the Charity over the coming year”.
3
PEOPLE INTERNATIONAL LIMITED
## REPORT OF THE COUNCIL OF MANAGEMENT (CONTINUED)
## FOR THE YEAR ENDED 31 DECEMBER 2021
## Principal Funding Sources
The principal sources of funds are individual donors, churches and charitable trusts.
## Investment Policy
In normal circumstances, aside from retaining a prudent amount in reserves each year most of the charity’s funds are to be spent in the short term so there are few funds for long term investment. Having considered the options available, the Council of Management has decided to invest the small amount that it has available in interest paying accounts where possible. Given the access required to funds the Council of Management considers the overall return on deposits to be satisfactory against the backdrop of very low interest rates. Our investment policy is regularly reviewed to ensure that the best return is being achieved.
## Reserves Policy
The Council of Management has examined the charity’s requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be 3 months expenditure from the general fund.
Budgeted general fund expenditure for 2022 is approximately £205,700 and therefore the target is £51,425. The reserves are needed to meet the working capital requirements of the charity and the Council of Management is confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding.
Restricted funds are retained according to the instructions of recipients of the funds and those given towards projects are passed on as soon as practical after they are received.
The present level of general fund cash available to the charity of £93,586 exceeds the target level. Each year the Council of Management determines how any monies in excess of the target reserves level should be used.
## **Plans for Future Periods**
The charity plans to continue the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. People International will also be seeking to develop engagement and awareness of Central Asia through offering facilitated short-term visits to the region and through providing local opportunities to experience a simulation of Church life in Central Asia
## **Responsibilities of Directors/Council of Management**
Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the financial activities of the company for that period. In preparing those financial statements the Directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Directors 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 Companies Act 2006. 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.
The above Report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Signed on behalf of the Board/Council of Management
MR S HARLAND MEMBER OF COUNCIL OF MANAGEMENT
Approved by the Board: 22 August 2022
4
INDEPENDENT EXAMINER'S REPORT TO
## THE TRUSTEES OF PEOPLE INTERNATIONAL LIMITED
I report to the Trustees on the financial statements of the Charity for the year ended 31 December 2021 set out on pages 6 to 13.
## RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND INDEPENDENT EXAMINER
The charity's trustees (who are also the directors of the Company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. The charity's trustees consider that an audit is not required for this year (under section 144 of the Charities Act 2011 (the Charities Act)) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:
- examine the accounts (under section 145 of the Charities Act);
- to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act); and
- to state whether particular matters have come to my attention.
## BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a 'true and fair view', and the report is limited to the matters set out in the statement below.
## INDEPENDENT EXAMINER'S STATEMENT
Since the company's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts 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 accounts 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 effective 1 January 2019)].
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.
1 September 2022 72 Commercial Road Paddock Wood, Tonbridge, Kent
T Lane Director in MN Jenks & Co. Ltd Chartered Accountants
5
PEOPLE INTERNATIONAL LIMITED
## STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
## FOR THE YEAR ENDED 31 DECEMBER 2021
|Unrestricted
Restricted
Funds
Funds
£
£
Income and Endowments from:
Donations and Legacies
100,953
380,710
Income from Charitable Activities
53,877
-
Investments - UK Interest Receivable
414
-
Other Income
-
164
Total Income
155,244
380,874
Expenditure
Raising Funds – Printing and Stationery
6,709
-
Charitable Activities
149,875
334,120
Total Expenditure(Note 2)
156,584
334,120
Net Income/(Expenditure)
(1,340)
46,754
Transfers
-
-
Net movement in funds for the year
(1,340)
46,754
Balances brought forward at 1 January 2021
£ 93,586
£ 225,950
£
Balances carried forward at 31 December 2021
£ 92,246
£ 272,704
£|Total
2021
£
481,663
53,877
414
164
536,118
6,709
483,995
490,704
45,414
-
45,414
319,536
£
364,950
£|Total
2020
£
530,936
54,162
561
5,077
590,736
1,167
505,932
507,099
83,637
-
83,637
235,899
319,536|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes set out on pages 9 to 13 form an integral part of these financial statements.
6
PEOPLE INTERNATIONAL LIMITED
COMPANY NO: 1466313
## BALANCE SHEET
## 31 DECEMBER 2021
|FIXED ASSETS
Tangible Assets
CURRENT ASSETS
Debtors
Cash at Bank and In Hand
CREDITORS: Amounts falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
Unrestricted Income Funds (page 11)
Restricted Income Funds
TOTAL FUNDS|Notes
5
6
7
9
10|12,590
365,601
378,191
(13,241)
£
£|2021
£
-
364,950
364,950
£
92,246
272,704
364,950
£||
|---|---|---|---|---|
These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
For the financial year ended 31 December 2021, the Company was entitled to exemption from audit under section 477 Companies Act 2006; and no notice has been deposited under section 476. The Directors acknowledge their responsibilities for ensuring that the Company keeps accounting records which comply with section 386 of the Act and preparing accounts which give a true and fair view of the state of affairs of the Company as at the end of the year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the Company.
Signed on behalf of the Council of Management
S HARLAND DIRECTOR
Approved by the Board: 22 August 2022
The notes set out on pages 9 to 13 form an integral part of these financial statements.
7
PEOPLE INTERNATIONAL LIMITED
STATEMENT OF CASH FLOWS
## FOR THE YEAR ENDED 31 DECEMBER 2021
||2021|2020|
|---|---|---|
||£|£|
|**Cash used in operating activities**|39,630|87,850|
|**Cash flows from investing activities**|||
|Interest income|414|561|
|Purchase of tangible fixed assets|-|-|
|**Cash provided by (used in) investing activities**|414|561|
|Increase (decrease) in cash and cash equivalents in the year|40,044|88,411|
|Cash and cash equivalents at the beginning of the year|325,557|237,146|
|**Total cash and cash equivalents at the end of the year**|£ 365,601|£ 325,557|
|**Reconciliation of net income (expenditure) to net cash**|||
|**flow from operating activities**|||
|Net movement in funds|45,414|83,637|
|Deduct interest income shown in investing activities|(414)|(561)|
|Decrease (increase) in debtors|(659)|4,845|
|Increase (decrease) in creditors|(4,711)|(71)|
|**Net cash used in operating activities**|£ 39,630|£ 87,850|
8
PEOPLE INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
## 31 DECEMBER 2021
## 1 ACCOUNTING POLICIES
## (a) Basis of Accounting
These financial statements have been prepared under the historical cost convention.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Charity constitutes a public benefit entity as defined by FRS 102.
## (b) Income Recognition
Voluntary income is received by way of donations and is included in full in the Statement of Financial Activities as soon as the Company is entitled to receipt and the amount can be measured with reasonable certainty. Legacies are included as soon as the Company has entitlement and receipt is probable. Tax recoverable on covenants and gift aid income received has been included as a debtor (Note 6).
No incoming resources have been deferred.
Investment income is recognised on an accruals basis.
## (c) Value Added Tax
The Company is not registered for VAT purposes and all costs are inclusive of VAT.
## (d) Depreciation
Office Equipment costing more than £1,000 is capitalised and depreciated. Depreciation is calculated to write off the cost of all tangible fixed assets over their estimated useful lives at the following rates per annum:
Straight Line
Office Equipment - 20%
## (e) Resources Expended
Expenditure is included when incurred. The irrecoverable element of VAT is included within the item of expense to which it relates. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Charitable activities costs comprise those costs incurred directly on the objects of the company and also those costs of an indirect nature necessary to support them. Governance costs are those incurred in connection with administration of the Company and compliance with constitutional and statutory requirements.
Pension costs are charged to the statement of financial activities for the year in which they are payable.
## (f) Allocation of Costs
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource.
9
PEOPLE INTERNATIONAL LIMITED
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## 31 DECEMBER 2021
## (g) Funds Accounting
Funds held by the Company are either:
- _Unrestricted general funds_ - these are funds, which can be used in accordance with the charitable objects at the discretion of the Council Members.
- _Designated funds_ - these are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.
- _Restricted funds_ - these are funds that can only be used for particular restricted purposes within the objects of the Company. 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.
## (h) Operating Leases
Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease.
## 2 TOTAL EXPENDITURE
|2
TOTAL EXPENDITURE|||||
|---|---|---|---|---|
|IT Services and Database
Project Work
UK Office Workers
Field Workers
National Office Contributions
Post, Printing and Stationery
Travel and Subsistence
Adverts and Campaigns
International Movement
Support
Courses and Conferences
Other Support Costs
Independent Examiner's Fees
Other
IO Building Fund Contributions
Staff Conference
Rent and Rates
Insurance
Grant Writer
5 Year Plan
£|Charitable Activities
Direct
Expenses
Support
Costs
Governance
£
£
£
-
4,405
-
53,757
-
-
74,126
70,648
2,974
235,427
-
-
10
-
-
3,517
508
-
227
1,205
-
160
-
-
6,302
-
-
2,000
-
-
-
3,992
-
-
2,292
1,330
694
-
2,899
-
-
3,271
-
-
-
2,481
-
-
955
-
-
-
-
10,815
-
-
393,841
£ 84,888
£ 5,266|Raising
Funds
£
-
-
-
-
-
684
-
-
-
-
-
-
-
-
-
-
-
6,025
-
£ 6,709
£|2021
Total
£
4,405
53,757
147,748
235,427
10
4,709
1,432
160
6,302
2,000
3,992
2,292
2,024
2,899
3,271
2,481
955
6,025
10,815
490,704
£|2020
Total
£
2,364
53,835
167,457
255,104
10
5,818
1,738
306
6,602
20
2,366
2,244
1,595
132
-
2,682
947
-
3,879
507,099|
|||£|||
Direct expenses relate in large part (£289,184 – 2020 £308,939) to the financial support of People International's overseas personnel and projects involved in gospel proclamation, discipleship, training, Bible translation, media work and meeting human needs. The other significant element of direct expenses (£88,685 – 2020 £101,782) relates to the work we do from the UK supporting the church in its prayerful and practical support of the Central Asian church and in the pastoral support of workers sent by the UK church to Central Asia.
10
PEOPLE INTERNATIONAL LIMITED
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## 31 DECEMBER 2021
|3|STAFF COSTS
Staff Costs are as follows:
Wages and Salaries
Social Security Costs
Pension Contributions|Total 2021
£
128,756
6,866
12,126
£ 147,748|Total 2020
£
144,701
8,718
14,038
£ 167,457|
|---|---|---|---|
The Company had 5 employees during the year (2020 - 6 ). The Company made pension contributions on behalf of 6 employees during the year (2020 – 6) to an independent fund. The Company does not operate its own pension fund.
The Company considers its key management personnel comprise the Council Members and the UK Director. The total employment benefits including employer pension contributions of the key management personnel were £46,727 (2020 - £46,308).
There were no employees with emoluments above £60,000 p.a.
## 4 FUNDS RECEIVED AS AGENT
During the year, the Company received, as agents, funds totalling £11,963 (2020 - £7,845) from international offices of the network of international Christian charities working in Central Asia known as People International. The Company was legally bound to pay them over to specific field workers and had no responsibility for their ultimate application. These resources have therefore not been included in the Company's Statement of Financial Activities and Balance Sheet.
## 5
|TANGIBLE FIXED ASSETS
Cost:
At 1 January 2021
Additions
Disposals
At 31 December 2021
Depreciation:
At 1 January 2021
Charge for Year
Released by Disposals
At 31 December 2021
BOOK VALUE:
At 31 December 2021
At 31 December 2020|Office
Equipment|Office
Equipment|
|---|---|---|
|||£
20,727
-
-
20,727
20,727
-
-
20,727
£ -
£ -|
All fixed assets are used in direct furtherance of the Charity's objectives.
11
PEOPLE INTERNATIONAL LIMITED
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## 31 DECEMBER 2021
|
6
7|DEBTORS
Income Tax Recoverable
Other Debtors
Prepayments
£
CREDITORS: Amounts falling due within one year
Accruals
Taxation and Social Security
Other Creditors
£|2021
£
7,678
2,948
1,964
12,590
£
8,515
4,256
470
13,241
£||
|---|---|---|---|
## 8 SHARE CAPITAL
The Company has no share capital, being limited by guarantee. In the event of a winding up the members liability is limited to £10 each.
|9
10|Balance at
Incoming
1.1.2021
Resources
Expenditure
UNRESTRICTED FUNDS
£
£
£
Designated Funds
-
-
-
General Funds
93,586
155,244
(156,584)
£ 93,586
£ 155,244
£ (156,584)
Balance at
Incoming
1.1.2021
Resources
Expenditure
RESTRICTED FUNDS
£
£
£
Office Projects
-
12,413
(3,235)
Nationals' Assistance
140
120
( - )
Short Term Trips
2,200
-
( - )
Project Funds
59,679
67,409
(63,820)
UK Based Office Workers
16,048
25,436
(30,190)
Field Workers
145,141
265,996
(231,589)
Staff Conference
2,742
-
(1,685)
Social Media Costs
-
9,500
(3,601)
£ 225,950
£ 380,874
£ (334,120)|Incoming
Resources
£
-
155,244|Expenditure
£
-
(156,584)|Transfers
£
-
-|
|---|---|---|---|---|
||||£ (156,584)
|£ -
|
|||Incoming
Resources
£
12,413
120
-
67,409
25,436
265,996
-
9,500|Expenditure
£
(3,235)
( - )
( - )
(63,820)
(30,190)
(231,589)
(1,685)
(3,601)|Transfers
£
-
-
-
-
-
-
-
-|
12
PEOPLE INTERNATIONAL LIMITED
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## 31 DECEMBER 2021
|10|RESTRICTED FUNDS(cont'd)
Unrestricted
Restricted
Total
Funds
Funds
Funds
Fund Balances at 31 December 2021 are
£
£
£
represented by:
Current Assets
105,487
272,704
378,191
Current Liabilities
(13,241)
-
(13,241)
£ 92,246
£ 272,704
£ 364,950|
|---|---|
## 11 DIRECTORS/COUNCIL MEMBERS EXPENSES
Expenses payments totalling £Nil were made in the year. No salary payments were made to Directors/Council Members, or any persons connected with them during the year.
## 12 OPERATING LEASE COMMITMENT
The Council of Management have entered into an agreement with the Trustees of People International Worldwide in respect of the property purchased by People International Worldwide and currently partly occupied by People International Limited. This is in recognition that part of the original funding was raised through People International Limited.
It was agreed that the charity will pay an annual rent of £10, contribute 40% of the cost of maintaining and operating the property and that People International will receive one third of the value of the property should it be sold or if People International gives notice and vacates it.
## 13 RELATED PARTY TRANSACTIONS
Income of £51,478 (2020 - £51,508) and £1,543 (2020 - £516) was received from Eurasian Ministries UK Trust, a registered charity, for administrative services provided and reimbursement of expenses respectively. The Trustees of People International Limited are also Trustees of Eurasian Ministries UK Trust.
Donations received from Trustees and related parties totalled £780 (2020 - £1,260) for the year.
13
PEOPLE INTERNATIONAL LIMITED
## INCOME AND EXPENDITURE ACCOUNT
## FOR THE YEAR ENDED 31 DECEMBER 2021
|INCOME
Donations, Gifts and Legacies for Restricted Funds
Donations, Gifts and Legacies for General Funds
Eurasian Ministries Support
Interest Receivable
People International Worldwide Support
Reimbursements
Other Income
EXPENDITURE
On the Object of the Charity:
Wages and Salaries
National Office Contributions
Support Payments to Field Workers
Travel and Subsistence
Postage and Printing – Literature
Adverts and Campaigns
International Movement Support
Subscriptions
Project Funds
Courses and Conferences
Other
IO Building Fund Contributions
Staff Conference
5 Year Plan
Cost of Generating Funds
On Other Areas (including Support Costs):
Wages and Salaries
Rent, Rates, Light and Heat
Computer and Office Supplies
Postage, Printing and Stationery
Telephone, Fax and Email
Repairs and Maintenance
Accountancy and Independent Examination
Insurance
Sundry
Office Cleaning
UK Travel and Subsistence
Professional Services
TOTAL EXPENDITURE
SURPLUS (DEFICIT) FOR THE YEAR|2021
2020
£
£
380,710
405,957
100,952
124,981
51,478
51,508
414
561
2,400
2,400
164
1,045
-
4,284
536,118
590,736
74,126
92,729
10
10
235,427
255,104
227
857
3,517
4,317
160
306
6,302
6,602
1,137
1,124
53,757
53,835
2,000
20
193
219
2,899
132
3,271
-
10,815
3,879
393,841
419,134
6,709
1,167
73,622
74,728
2,481
2,682
4,405
2,364
508
334
701
675
1,275
443
2,292
2,244
955
947
1,438
944
578
304
1,205
881
694
252
90,154
86,798
490,704
507,099
£ 45,414
£ 83,637|
|---|---|
14