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2022-12-31-accounts

People International Limited (A company limited by guarantee)

Report and Financial Statements For the Year ended 31 December 2022

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 6
Statement of Financial Activities 7
Balance Sheet 8
Statement of Cash Flows 9
Notes to the Financial Statements 10
Income and Expenditure Account 15
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
Mr M Simants
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 2022

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 2022, 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

All 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:

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 2022

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 2022 the Committee had six members; during 2022 there were no resignations and no new appointments. 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:

Achievements and Performance

People International Limited is based in one office in Tunbridge Wells and during 2022 was staffed by one fulltime and three part-time members of staff.

During the year People International Limited supported twenty one individuals who are engaged in ministry in various locations across Central Asia or working with the Central Asia diaspora, and there were five members preparing to serve in Central Asia. Since the end of 2022 a further three individuals have been added, in addition to the five mentioned above. A successful ‘Discover’ conference was held for people seriously exploring the opportunity to work in Central Asia. This was attended by 30 people.

Funds totalling £296,280 were spent in support of overseas members directly engaged in the ministry of the organisation and £7,130 given to ministries of the People International network worldwide.

2

PEOPLE INTERNATIONAL LIMITED

REPORT OF THE COUNCIL OF MANAGEMENT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Gifts and donations totalling £41,347 were also made to projects closely associated with People International field members.

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:

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 backing of its supporters. This financial support, along with the aid of sound financial management and the committed work of its staff generated a satisfactory outcome.

The charity finished the year with a net deficit for the year of £55,400 arising mainly on restricted funds. The reduction in restricted funds reflects a relatively high draw-down of reserved funds by workers, together with expenditure of project funds brought forward from the previous year. Unrestricted funds, used for the general purposes of the charity, decreased during the year by £7,946. This reduction in unrestricted funds reflects lower levels of one-off gifts from donors, and increased investment in strategic projects postponed due to the Covid pandemic, offset by reduced expenditure on operating costs. Restricted and unrestricted funds remain in surplus.

Total income for the year fell by 11.3% from 2021, with a reduction in grants received for projects from relatively high levels in 2021 and a lower level of one-off unrestricted donations. The income level in 2022, however was only 8.2% below the pre-Covid level in 2019. The first six months of 2023 has seen strong gift income to the th unrestricted fund. With cash in hand of £71,871 as at 30 June 2023 over and above the target reserves level, the trustees made the following statement as recorded in their meeting of 24[th] July 2023: “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 2023.

Principal Funding Sources

The principal sources of funds are individual donors, churches and charitable trusts.

3

PEOPLE INTERNATIONAL LIMITED

REPORT OF THE COUNCIL OF MANAGEMENT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

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 2023 is approximately £195,200 and therefore the target is £48,800. 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 £84,300 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. The Charity continues to invest in promoting the mission through social media, seeking to engage the next generation in this work.

PI staff have been providing administrative and leadership services to another Charity: Eurasian Ministries UK Trust. During 2023 the Board of Eurasian Ministries (‘EM’) has decided to wind up that charity, a decision likely to be effected in late 2023. EM currently contributes towards office and staff costs, and these shared costs will need to be fully met by People International in the future. There will be a small part-year effect in 2023, but a full year effect from 2024 of circa £30,000. As mentioned above, growth in income has been seen in early 2023, and this is expected to continue as the organisation reaches out to new supporting individuals and Churches, as worker numbers grow, and as contributions from workers are increased on a staged basis over the coming years. It is expected that the increase in cost base following the closure of EM can be managed successfully.

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:

4

PEOPLE INTERNATIONAL LIMITED

REPORT OF THE COUNCIL OF MANAGEMENT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

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: 24 July 2023

5

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 2022 set out on pages 7 to 14.

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:

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

  2. 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

  3. 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 August 2023 72 Commercial Road Paddock Wood, Tonbridge, Kent

T Lane Director in M N Jenks & Co Ltd Chartered Accountants

6

PEOPLE INTERNATIONAL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
Restricted
Funds
Funds
£
£
Income and Endowments from:
Donations and Legacies
88,352
346,972
Income from Charitable Activities
38,348
-
Investments - UK Interest Receivable
697
-
Other Income
196
918
Total Income
127,593
347,890
Expenditure
Raising Funds – Printing and Stationery
6,155
-
Charitable Activities
129,384
395,344
Total Expenditure(Note 2)
135,539
395,344
Net Income/(Expenditure)
(7,946)
(47,454)
Transfers
-
-
Net movement in funds for the year
(7,946)
(47,454)
Balances brought forward at 1 January 2022
92,246
272,704
Balances carried forward at 31 December 2022
£ 84,300
£ 225,250
£		 Total
2022
£
435,324
38,348
697
1,114
475,483
6,155
524,728
530,883
(55,400)
-
(55,400)
364,950
309,550
£		 Total
2021
£
481,663
53,877
414
164
536,118
6,709
483,995
490,704
45,414
-
45,414
319,536
364,950

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 10 to 14 form an integral part of these financial statements.

7

PEOPLE INTERNATIONAL LIMITED

COMPANY NO: 1466313

BALANCE SHEET

31 DECEMBER 2022

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		 15,355
308,570
323,925
(14,375)
£
£		 2022
£
-
309,550
309,550
£
84,300
225,250
309,550
£

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 2022, 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: 24 July 2023

The notes set out on pages 10 to 14 form an integral part of these financial statements.

8

PEOPLE INTERNATIONAL LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2022

2022 2021
£ £
Cash used in operating activities (57,728) 39,630
Cash flows from investing activities
Interest income 697 414
Purchase of tangible fixed assets - -
Cash provided by (used in) investing activities 697 414
Increase (decrease) in cash and cash equivalents in the year (57,031) 40,044
Cash and cash equivalents at the beginning of the year 365,601 325,557
Total cash and cash equivalents at the end of the year £ 308,570 £ 365,601
Reconciliation of net income (expenditure) to net cash
flow from operating activities
Net movement in funds (55,400) 45,414
Deduct interest income shown in investing activities (697) (414)
Decrease (increase) in debtors (2,765) (659)
Increase (decrease) in creditors 1,134 (4,711)
Net cash used in operating activities £ (57,728) £ 39,630

9

PEOPLE INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

31 DECEMBER 2022

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.

10

PEOPLE INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

31 DECEMBER 2022

(g) Funds Accounting

Funds held by the Company are either:

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

£
£
£
-
4,645
-
41,347
-
-
57,584
51,598
2,981
296,280
-
-
10
-
-
3,644
527
-
5,086
2,158
-
-
-
-
7,130
-
-
-
-
-
-
3,659
-
-
-
2,340
1,391
-
-
-
-
-
15,885
-
-
-
2,683
-
-
1,022
-
-
-
-
24,758
-
-
453,115
£ 66,292
£ 5,321		 Raising
Funds
£
-
-
-
-
-
775
-
-
-
-
-
-
-
-
-
-
-
5,380
-
£ 6,155
£		 2022
Total
£
4,645
41,347
112,163
296,280
10
4,946
7,244
-
7,130
-
3,659
2,340
1,391
-
15,885
2,683
1,022
5,380
24,758
530,883
£		 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
£

Direct expenses relate in large part (£337,627 - 2021 £289,184) 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 (£91,072 - 2021 £88,685) 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.

11

PEOPLE INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

31 DECEMBER 2022

3 STAFF COSTS
Staff Costs are as follows:
Wages and Salaries
Social Security Costs
Pension Contributions		 Total 2022
£
98,365
4,027
9,771
£ 112,163		 Total 2021
£
128,756
6,866
12,126
£ 147,748

The Company had 4 employees during the year (2021 - 5). The Company made pension contributions on behalf of 4 employees during the year (2021 – 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 £46,031 (2021 - £46,727).

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 £14,149 (2021 - £11,963) 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 2022
Additions
Disposals
At 31 December 2022
Depreciation:
At 1 January 2022
Charge for Year
Released by Disposals
At 31 December 2022
BOOK VALUE:
At 31 December 2022
At 31 December 2021		 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.

12

PEOPLE INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

31 DECEMBER 2022


6
7		 DEBTORS
Income Tax Recoverable
Other Debtors
Prepayments
£
CREDITORS:Amounts falling due within one year
Accruals
Taxation and Social Security
Other Creditors
£		 2022
£
10,525
3,240
1,590
15,355
£
9,172
4,526
677
14,375
£

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
1.1.2022
Resources
Expenditure
UNRESTRICTED FUNDS
£
£
£
Designated Funds
-
-
-
General Funds
92,246
127,593
(135,539)
£ 92,246
£ 127,593
£ (135,539)

Balance at
Incoming
1.1.2022
Resources
Expenditure
RESTRICTED FUNDS
£
£
£
Office Projects
9,178
1,199
(7,586)
Nationals' Assistance
260
120
-
Short Term Trips
2,200
-
-
Project Funds
63,268
32,733
(42,073)
UK Based Office Workers
11,294
28,824
(36,830)
Field Workers
179,548
279,973
(296,883)
Staff Conference
1,057
4,041
(5,073)
Social Media Costs
5,899
1,000
(6,899)
£ 272,704
£ 347,890
£ (395,344)		 Incoming
Resources
£
-
127,593		 Expenditure
£
-
(135,539)		 Transfers
£
-
-
£ (135,539)
 £ -
Incoming
Resources
£
1,199
120
-
32,733
28,824
279,973
4,041
1,000		 Expenditure
£
(7,586)
-
-
(42,073)
(36,830)
(296,883)
(5,073)
(6,899)		 Transfers
£
-
-
-
-
-
-
-
-

13

PEOPLE INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

31 DECEMBER 2022

11 RESTRICTED FUNDS(cont'd)
Unrestricted
Restricted
Total
Funds
Funds
Funds
Fund Balances at 31 December 2022 are
£
£
£
represented by:
Current Assets
98,675
225,250
323,925
Current Liabilities
(14,375)
( - )
(14,375)
£ 84,300
£ 225,250
£ 309,550

12 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.

13 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.

14 RELATED PARTY TRANSACTIONS

Income of £35,9348 (2021 - £51,478) and £356 (2021 - £1,543) 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 £2,255 (2021 - £780) for the year.

14

PEOPLE INTERNATIONAL LIMITED

INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

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		 2022
2021
£
£
346,972
380,710
88,352
100,952
35,948
51,478
697
414
2,400
2,400
918
164
196
-
475,483
536,118
57,584
74,126
10
10
296,280
235,427
5,086
227
3,644
3,517
-
160
7,130
6,302
1,140
1,137
41,347
53,757
-
2,000
251
193
-
2,899
15,885
3,271
24,758
10,815
453,115
393,841
6,155
6,709
54,579
73,622
2,683
2,481
4,645
4,405
527
508
241
701
920
1,275
2,340
2,292
1,022
955
1,714
1,438
784
578
2,158
1,205
-
694
71,613
90,154
530,883
490,704
£ (55,400)
£ 45,414

15