people international People International Limited (A company limiced by guarantee) Report and Financial Statements For the Year ended 31 December 2024 Charity Number 280036 Company Number 1466313
CONTENTS Report ol the Cour1 of Markymenl Ind8pond8ni Examiners Rep)rt Statement of Financid Aclivil Balan¢e Sheet ststement of Cash Flows Notes to the Financial Statements 10 Income and Expeliture Account 15
Full Nm: Peo8 Intemal#y Llmited Charfty R¢glslratlon Numb•r. 280036 cOmnY Roglstrntlon Numbor. 01466313 Addrnm of Reglstornd offi: 72 Commercial Road Torthxidg8 Koni TN12 60P TN8100: Mr N Prtdeaux Mr S Harland Mrs R Graham Mr M Simants {resKJned 30 Jur 20241 MI J Maxwel {appoinied 9 PAarch 20241 (rened 31 January 2025) Miss C Bather {appointed 9 March 20241 Mr L Waklod( <artl 9 Marth 20241 Mr A &mm8. UK Director Indapond•nt Examln•r: TLar Director in M N Jenks & Co Lthl 72 commerc Road Padchxk Wood TonWo TN12 6OP 8•nk•r•: 8arday8 Bank PLC n.75 Calverley Road Tuthdge Well8 Kent TN12UZ Saffron BuikJiTrJ Soc Saffron House 1A Mathel Street Saffron Waldon CB10 IHX Klryyjom Bank Umlted Media House Padge Road Bee$lon NottingharrhiTe NG9 2RS Solkltors: WeUeTS Tenison Howe 45 Tweedy Rwl Bromley Kent R13NF
PE PLE INT NATIONAL UMITED REPORT FTHE ANAGEMENT EAR ENDED EM 2024 The trustees have pl¢asure in submitting their report and accounts together th the consolidated ffnanGial $talem8nts of the charity for the year 6nding 31 December 2024, which aro also prepared to moet th8 requirements lor a ITuslees' report and accounts lor Compantes Act purposes. The financial statements comply with the Charilie5 Act 2011. the Compantes Act 2006, the Memorandum and Articles of Assoclatlon, and Ac¢ounling and Reporting by CharFti8s: Statement of Recommondgd Practlce appiicable to charhies preparing their accounts in accordance with the Flnanclal R¢porting Standard apylicable in th8 UK and Republic of Ireland IFRS 102, effective 1 January 20191. uro G¢)v8mance and Mana The company has no share caWI, being limited by guarantee. The company was established under a MomoTandum ol Associalion which estabfished the objects and wwers of the ¢harilable company and Is govemed under ils Articles of Association. In the event of the company being wound up members are requlred to contrfbule an amounl r1 exceeding £10. Raer intmenl ol Council of Tho dir6etors of the company are also ¢harity trustees for the purposes ol chaffty law and under the company's Artlcles are known as members ol the Council of ManagemenL Urnfjer the rgquiremerrts ol the Memorandum arKI Arti¢le$ ol A$SlatIon the memters of the Council ol Management are elected lo serve for a p¢riod ol three years after which they musl be re-ele¢ted al the next Annual General Meetlng. After serving nine successive years in offSce a rellrlng member is required lo sland down lor a year bolore being eligible for reelection again. Tho nature ol mission means that the charity'5 work aims lo serve the Christian Church. The Council ol Management Seeks to ensure that the needs ol the Church are approprial$ly rgnected through the diversity of the Iruslae body. The Council ol Manag9menl reviews ils membership against a lisl of specific contrlbullon areas that should be ¢overed by al least one member. Membershlp is also reviewed against the skilL8 and experi8n¢• necessary for an ideal Council of Management. Trus ee Ind in All trustees serving during the year are already famlllar wllh th6 practical work ol Ihg charity havlng been involved wtth the work in past years in various ways. Additionally. new Iruslees are prov¢ded with all relevant do¢um8niaiton concerning the charity and are fully briefed in order to lamiliarlse thomselves with the organiSati¢. Briglings are led by the Council of Managernenl and the Dlrector and ¢over= The obligatlon$ of cour•1 of Management members The lulure plans and objectlves of the Gharity The context in whl¢h Ihe charty operates Resourcing and th• current financial position as sel out in the late51 publlshed accounts. Risk Mana emen The Councll ol Managemont has conducted a review of the major risks to which the charlty ts exposed. A risk register has boon osiablished and is updated at least annually. Where apwoprlate, syst•m$ or procedures have been eslablTrshed lo mitigate the rlsks the tharity faoe5. External risks lo funding have led to careful scruliny of Iome and exp8ndilure on an ongoiNJ basis. Internal control rfsks are minimised by the implementation ol procedures for authorisallon of all transactions and projects, These procedures are periothcally revi8w•d to ensure that they conlinue lo meet the needs ol th8 Charity.
RNATIONAL UMrrED RT OFTHE COUNCIL GEMEF conN ED FOR THE YEAR ENDED ECEMBER 2 isational People Intematts)nat Limrfed has a Council of Management of at three memtrs who moet quarterly and are responsblè for the Strateg direclion arKI FM)Iy of the eharity. Ai the eThJ of 2023 thè Committee had four membèrs" during 2024 there was one reSIgnan ard thr¢e tntstees were aFpointed in March 2024. One trustee resigned in January 2025. The Commiti8e membershw) is (kawn from a varth of professi¢Jnal backgrounds rdevant lo the work of the ¢harity. A scheme ol delegation in pkn, and day lo day responstiility for delrvery rests tllh the Director wilhin a framework of responsibilibes and accountabileS sel by the Counol of Management. The Director is responsible lo the trustees lor ensuring thal Ihe charity achv•s its specified 0.ectiveS arKI that key performance indicators are met. The Director has indivmlud SW)ers1on of the slafl team and ensures that the 10am continues to dovelop thgir lIS and working pralce5 in line with gocrfl PTaclice. The Director gave notice ol JnatiOn from his role in Augusl 2024, wilh his leaving date agreed at thè •nd ol June 2025. He has gNen OLtstanthng kadership to the organisation over six and a hall years. wilh a notable impa¢t on the number of field workers a1 the profile ot the Charity. An executive recruitment process was cartied by the Board, and a new Director has been apin1$d to commence in June 2025 allowing for a perK#J ol han(tr)ver. Ilao PeOe Inlemalional Limited acts as the UK ami of an intematronal neiwork krMy•ffl as"People Inlemational.. Thé Peopl6 Internationd ne1w0 also has ofltts in the Netherknds, Gempry. the USA, Australia. New Zealand and Canada. Each ol these olher offKes 15 regk8tered and has tharrtable status in its own county. The goveming body of the 1rrtemallnal nN}vem is known as the Intematicthl c11. People Intemational Worldwide, which ig a UK registered charity. has re¥)nsR)ilty for implementing its decisions, as well as supportiNJ the altIeS of 8ac ol the country offw. People Intemational Limiled is a member ol Glob ¢CnGIv)S, a IJ)dy that promotes best the Christian MisSn community. The company's object and princ(pal aclivity is lo a(fvarKe religion by spreading and proclaiming the Gospel ol JesLL8 Christ accordance with the do¢trinal statement set forth in Mi¢le 5 of the ArtleS of Assrfialion of the Company. People Intemaltonal exists to urwell God's ghyy to Cenlral Asian mu1m$ by eslatlishino and enabling his chur¢h. People Intemational Lrmited ams lo fulfll ils obitiVeS Ihrough: al Recruiting and preparing personnel to serve on Sl- aThl low.twm assIgnnrts and to encourage them through prayerful SUF(. bl Provldlng funds to indrvKluaL8 and organtsatk)ns engaged in furthering the objectives of People Intemational Limited or to other indivKluab and organisatn$ furthering sunilar obj'ectives to People IntematKJnal Liffliled. cl ProvKling an advisory arKI training Se8. dl Setting up and estsbltshing bcal churches. el Dislribuling the Bible, literature and otsr medi& Achlev PeOe Inlemalional Mited ts baséd in LTh ofkn Wells and durlTh3 2024 was slaffed by one fulktime and three part-time members of staff. During the year People Intemattonal Limit&J suwjted thity-one individuals who are engaged In mlnislry in various locations across Central Asia or worn9 wtth the C8nlral Asia diasFX4 and Ihere were four members preparing to serve in Centrd Asi& These numbers indicate 8u[a91 growlh from a baseline of 14 irtdividuals at the end 012020. Since the end of 2024 a lurther swenleen individuafs havo eilher undertaken a short-temi trip or have commitled to one in the half 012025.
PEOPLE INTERNATION REPORT OF THE COU IL F MANAGEMENT ONTINUED R THE YEAR ENDED 31 DECEMBER 2024 During 2024, lor Ihe fir51 lime an exhfoitor stand was staffed at the Kesw¢k Convention lor the full duralion of 3 weeks. Including first lime set-up costs, this was an investment of £11,251. Exhibiting in this way has been evaluated as productNe in lerms of raising aWane$s, generaong new opportunitles lo sp&ak and present in ¢hurches. and also In recruiknenl. Towards the end of 2024, another"Discover weeken was held In Hlgh Lelgh's conference centre. deslgned lor those serlously exploring serying wilh lh8 organisalion. Thg cost ol thi5 was £8.109 and Several who attended tho weekend have gone on lo undertake short-lemi trips. Gifts and donations totalling £38.914 were made lo projecls closely a$Slated with People International field members. The Council of Management assesses the effectiveness of the charity agalnst the followlng Ends and Is sallsfied that good progress is being made in achieving them: al Central Asian people hear failhlul, engaging and appropriate proclamation$ of the gospel in their languages. bl The Bible is made available to all language groups in versiorts which are accurate. cl Central Asian believers grow to maturity in the faith. dl Ghristians respond lo being sent into ministy to Central Asian people. Ministers are effectively trained in go$1 mintslry lo Central Aslan peopfe. Ministers persevwe in faithful rninistry, outreach and godly livir¥J. Ministers and minl8tri8s are prop8ty resourced. el Genlral Asian people exp9rience thg love ol Christ through the good deeds of Chrfstlang. Q Many more people and ¢hur¢hÈs In the UK pray for Central Asla and Its people. gl There is a significant incr¢as¢ in undérstanding of, and concem for. Central Asla and Its people. h) Central Asian ¢hur¢hes and parachurch organlsations achi8V8 appropriate 19vels of IlependenCe from People Inlemational. The Trustees have comFJied with the duty in section 4 01 the 2006 Charities Act lo have due regard to the publtc benefit guidance published by the Charity Commtssion. nanclal Revlew Peopla Inlemational is grateful for the dedicated financial and prayerful backing of Ils supporters. This financial support, along with the aid of sound financial management and the committed work ol its staff generated a $ati8faclory oulcomg. Tha charity linlshed the year wSlh a net surplus for the year 01 £44,410, with Surplus arising on unrestricted funds, offset by a small roducuon In r8str*l8d lunds. Unrestrthd funds gr8w by £50,148 relallng to legacSes received lolalling £35,614, together with excgptional donaltons of £35,000 received to supwrt Charity through a reductlon In income following the closure ol another ¢harity that had been given adminislralive support by People International. The closure took place in earfy 2024, with People International experlenclng a consequent reduction of Income from Charitable Activities mpared wlth 2023. This event is explained further urKler°Plans lor Future Periods.. Restricted funds fell by £5,738 largoly as ov•rs•as workers drew down on the funds reseryed for them. including funds tor their attendance al the biennial staff etsnl8ranee which look place In 2024. Restrict8d and unrostriet8d funds rsmaln In surplus. Income from donations, excluding legacies and the exceptional donations montioned above, rose by 5.2% from the prior year. Wlth ¢a$h and bank balances totslling £192,153 as at 30th April 2025, which exceeds the target reseNes level, Ihe Irustoes made the lo11gwing statemènt as recorded in their meeting 01 301h June 2025: "People Intemalional is in a good slate ol financial healih and remains a vlable and sosvent company at this point in time and we expect this lo continue to be the case for the year followlng th8 AGM in 2025.° l Fundi Sourcas Th¢ princlpal sources of funds are iThJividual donors. churches and Gharitable trusts.
PEOPLE INTERNATIONAL LIMITED REP RTOFTHE IL F MANAGEMENT CONTINUED HE YEAR ENDED 31 DECEMBER 2024 Investment Pol In normal GirGumstan¢es. aside from retaining a prudent amount in reserves each year most ol the charity'$ fvnds are to be spent in the short tsrm so there are lew fijnds lor low lemi investment. Having considered the oplions available, the Council ot Management has de¢lded to Invest the small amounl Ihal it has available in interest paying acwunts where possible. Given the access required lo funds the Councll of Management considers the overall retum on deposits lo be salislaclory agalnsl the backdrop ol very low interest rates. Our inve$lmgnt policy is regularly rwiowed lo ensure that the best return is being achieved. The Coun¢il ol Manag8meN has examined the charity's requirements for reserves in light ot the main risks to Ihe organisation. 11 has established a policy whereby the unrestricted fvnds not Committed or invested tangible Iixgd assets hgld by the tharity should be 3 monihs gxpeTrJiturg Irom the general fund. Budgeted general fund expenditure for 2025 1$ approximately £207.000 and therefore the reserve larget Is £52.000. The reserves are needed to meet the wothing capilal requirements ol the charty and the Council of Managem8nl is conl¢denl that at this level they would be able to Continue th8 current activities of the charity in the event of a slgnillcanl drop In funding. Restricted fUrS are retained according lo the instructions of recipients ol the lunds and tho$& givon towards projects are passed on as soon as practical after Ihey are rec8N8d. The level of g8n8ral fund Cash avaiiablo to tho charity was £166,634 al the end 012024. whlch exceeded the target lgvel. As noled above this included legacies, together with exceptional donations re¢eived in 2023 and 2024 that related to an increase in cost base arising from 2024. Each year the Council of Management det8rmin•s how any monies in 6xeess ol tho largel reserves level should be used. Pla 8 for Future Perfods The trustees are encouraged by the growth achieved in th6 number of individuals supported by the charlty In Central Asia in reGenl years. 2025 sees th8 culminalion ol a live-year straleglc plan that had set an ambitious target of 25 new long-term worf(ers deoyed in Central Asla or wlth Ihe Central Asian diaswra. The Board is pleased Ihat al least 24 new workers will have been sent over Ihis riOd. The Board sees opportunlty for further growth In awareness among$l the UK Church of tho Gospel nged in Central Asia, and expects to continue to recruit and mobilise new workers, as well as lo support the existlng workers. The Board will be working with the new Director lo develop new slrategtc plans for the fvturo. People Intemational will continue to build n8Vd and 8xisting relationships with the UK church, making the needs ol C8nlral Asia known, and calling churches lo send workers, to pray and to support this work. The charity will exhibit again at the Ihree-week Keswick Convention In summ¢r 2025 and will conlinue lo promote its wo through social medla to engage younger generations. PeOe International will olfer facililaled short.lerm visits lo Ihe region where considered slralegically valuable. As mentioned above and in last year's reFM)rt People International is facing a loss of income of ¢ir¢a £30,000 per annum arlsing from the wlnding up ot anolh8r charity.. Eurasian Ministries UK Trusl I'EM'I. EM has been contributing to tho costs of People Intemalional, whose staff had been providing administrative and leadership services. The winding up ol EM was completed in March 2024 and contrlbullons to the Gosls ol People International ceased. People Inlemallonal has sought lo mitigat8 Ihis linan¢ial ¢hallenge in the medium term through gr¢)wlng the donor base, and through ineréasod worker contributions both as worker numbers grow, and from a staged increase in the level of worker contributions that has been completed recently. In the shorter term onfroff donations were secured from generous donors tolalllng £20,000 in 2023 and £35,000 in 2024 to ensure that the loss of Income does not inhibit Pèople Intomational Irom pursuing the current growth opportunlty. In the first months of 2025 a further £7,500 was received from these donors. It is exFJecled that the increase in cost base following the Glosure of EM can be managed successlulty and that conllnued growth can be sustalned.
RNAMONAL UMIT OFTHE COUNCIL OF MANA EM NT INUED THE YEAR ENDED 31 DE EMBER 2024 es of DIrect$/coun Mana emenl Company law requires the Directors to prepare financial statements lor each financ year which glve a true and falr vlw ol Ihe slate of affalrs of the company and ol Ihe financial actlvilies ol the company for that perlod. In prèparing those financial slal8ments the Directors are requlred lo: select suitable accounting policies and then apply them consistently; make judgements and estlmales that are reasonable and prudert- prepare the Ilnanclal staigments on the golng con¢ern basis unless It Is Inapproprlate to presume that the company will continue in business. Tho Dir•¢tors are resFonsible for keeping proper a¢counting records which disclose wlih reasonable accuracy at any lime the financial posllion of the Charity and lo enable them to ensure that the financial statements compty with the Companle$ A¢t 2006. They are also resEKsnsible loi safeguarding the assets of the Charty and hence for taklng r•asonablg slgps tor the prevention and etlion of fraud arHJ other irregulariknes. The above Report has been prepared in accordan¢• with tho special provisions relating lo small companies wlthln Part 1 S ol the Companiés Act 2006. Signed on behalf of the BoardlCoun¢ll ol Manag•monl ARiAND- NIEMBER OF COUNCIL OF MANAGEMENT Approved by the Board.. Sd 2o.z
INDEPENDENT EXAMINER. RE RT THE TR TEE FPE PLE INTERNATI NAL IMIT I rep)rt to the Trustees on Ihe linanclal slalemenls of the Charity for th8 y8ar ended 31 December 2022 sel oul on pages 6 to 13. 81L IE FTHE ENT EXAMIN Th¢ ¢harlty'$ trustees {who are also the directors ol the Company lor the purpo$e$ of ¢ompany lawl are responsible for the preparatlon of the accounts in accordance with the requlrements ol the Companles Act 2006. The charlty's Iruslee8 conslder that an audit is not requiied lor Ihis yew (under section 144 01 the Charities Act 2011 Ilhe Charitlos A¢ll> and Ihal an Indop•ndenl oxaminaiion 1$ ngeded. Havlng satlsfiod myself that th8 charlty Is not subject lo aLMIIt under Part 16 of the Companlas Act 2006 arKI is ellgibie lor independent examination, It 58 my responslblllty lo.. oxamlne tho a¢counts lundor 8eCtlon 145 01 the Charllies Acl): lo follow the procedur88 lald down in the General Dlrecllons glvon by the Charity Commlssloners lund•r 8OCtlon 145lSllbl ol tho Charilios Aell., and lo slate whethgr partlcular matter8 have come to my attention. NDEPEND My 8xamlnalk*n was ¢arrled out In accordance wllh the General Dlre¢llons glvon by the Charlty Commlssloner8. An axaminallon includes a revlew ol the accounting rocords kgpl by the charlty and a comparlson ol the accounts presenlod w6th those reGords, It also InclLKle5 conslderallon ol any unusual Items or dls¢lo$uros In the accounts, and the seel(Ing ol explanallons Irom you a8 Iruslees con¢8rnlng any $u¢h matters. The procedur88 undertaken do not provlda all the gvldence that would be reqUIr In an audlt and, consequently, no oplnlon 1$ glven as lo whether the accounts present a 'lruo and lalr vlew., and the report Is Nmlled lo the malters set out In the slalemenl below. TAT Slnce the company'8 gross Income 8xce8d8d £250.oixI, your •xamlnor musl be a member of a body Ilsted In secllon 145 01 the 2011 A¢t. l ¢onllm) that l am qualified lo undertake the examlnallon because l am a momb•r ol Tho Insliluto of Chart8r8d Accountants In England and Walos, whlch Is ono ol the Ilsled lJodl•8. I have compl8led my examlnailon. I conllmi that no mallgrs have come to my attenllon In connecllon wilh the examlnallon glvlng me cau88 to belleve that: accounllng records were not kept In respect ol the Company as roqulrod by 88ctlon 386 of the 2006 Act: or th8 accounts do not accord wllh those records" or the accounts do not com1Y wllh Ihe aOUntIng requirements ol secilon 396 01 the 2006 Act olhor than any requlrement that th• a¢¢ounts give a 'lrue and falr vlew. whlch is not a matter considered as part ol an Indopgndgnl examinal¢on: or the accounts have not been prepared in accordance wllh the methods and principles ol the Statement ol Recommended Practlce lor accountlng and reporting by charities lappllcable to charities preparfng thelr accounts in a¢¢ordan¢e wlth the Financlal ReFM)rting Standard appllcable In the UK and Republic ol Ireland IFRS 102 effoctivo 1 January 2019)J. I have no concerns and have coma across no other matters In connection wllh the 8xaminatlon to whlch attentlon should be drawn in Ihts report in order to enable a proper understanding ol the CoUnts lo be reached. 72 Commerclal Road
PEOPLE INTERNAT NA TATEME iALA TIVITIE ING INCOME AND EXPEN ACCO FOR THE YEAR ENDED MBER 2024 Unreslrthj Restricted Totsl Total Donations and Legacies Income Irom Charllable Idivibos Investments- UK Irrteresl Other Income 193.513 3.180 9.976 1.071 4S).761 644274 3,180 9,976 S.572 544,997 27,780 5.203 5.558 4JJ1 207.740 455,262 663.002 583.538 Raising FurKIs Charitable A¢lh6tt86 156,611 461,CM)O 617.611 517.105 157,592 461,000 618,592 519,590 9).148 {5,738) 44,410 Translor8 {8691 49.259 (4.849) 44,410 255257 373.498 309,550 £ 167.4fy) £ 250.508 £ 417.908 £ 373.498 The slatemenl of financlal actlvltbs IrKIleS al galns ar#J losses rocognlsed kn the year. AIS Income and expenditure derbve Irom conbnuiTVJ ac11vi. The note8 sel out on pwJes 10 to 14 f(Ym art kntyal wl of Ilwe finarKxal ststomonts.
RNA AL UMrrED COMPANY 1DE EMBER 24 24 Fl Tangible Assels RRENT A Debtors Cash at Barth aThl In HarKI 12.502 422,1 14,037 377,392 391,429 REDIT .. Amwnts fallirwj due withKI one y (17.495} {17,9311 RRENT 417.908 373,498 £ 417,908 £ 373,498 Unreslrl¢ted IrKome Funds Ipage 131 Restrlcted IrKome Funds 167,400 250,508 118,141 255,357 10 £ 417,908 £ 373.498 These Ilnanclal 8talem8nl8 hav8 boon yoparod kn acCOrdar with sp8dal provlslor rekqting lo small companles w61hin Part 15 01 thè Companies Act 208. For tho IInarlI1 yèar ended 31 DeCeffl 2024, tho Company was enthl•d to exempan from audll uThJor soclton 477 Companles Ad 2006: and no nOte has been dgf)8Red under so¢tlon 476. Tho Directors aCknowge Ihelr re¥>onsibifiti•s lor ensuring that the Company keeps aIntIng r6¢ords which comply wlth Socilon 386 of Ihè Act and prepanng accounts whth give a Irug and lalr vrew ol the stale of alfalrs ol the Company as al the end of Ihe year and ol ils profft w loss lor the finala1 year In a¢cordanco With the loqulrements of seConS 394 and 395 olh8p*l$e ¢ompty Thllh the requirements ol the Companles Act 26, $0 far as apF4l¢ablo to the Compary. Slgned on behall of the Councll of Manag•m•nl ARLAND DIRECTOR 30 2oif Approved by the BoaTd: ................................ The notes set out on pages 10 to 14 lo an inlegral part of these financlal statem8nts.
PLE IERNATI NAL ATEMEN CASH FL FOR THE YEAR ENDED EF12 24 C•sh gonor•tod (u8ed> In operntlng a¢tlvltle8 35,533 63,619 Ciah IIow8 Irom Inv08tlng actlvltle8 Ini8rest income PUhase of langtble flxed assols 9.978 5,203 C•oh provld•d by (d Inl Investlng octlvltl•• 9.976 5.203 Increa88 Ide¢roaso1 In cash and ca6h aqulvalgnls In the year 45,509 68,822 Cash and cash equfvalonls al the boglnnlng ot the year 377,392 308,570 Total •h and •h •qulval•nt• at th• •nd of lh¢ yur £ 422,901 £ 377,392 Raconclllatlon ol net Incomo (oxpondltur•) to n•1 eA•h flow from opolollng 4ctlvltlo1 N81 movement In funds 44.410 63,948 Deduct Intare81 Income Shown In Invesllng acllvhlos {9,976} 15,2031 Decrease IlrKmasel In dobtor8 1,535 1,318 Increase Idecreasel In credllors 14361 3,556 N•t ca•h umd In opernllng •ctlvlth• £ 35,533 £ 83,819
PEOPiE [MfERNATNAL UMrrED NOTES TO THE FINANCIAL STATEMENTS UCIES of Acco The financial statements have been w8parwJ in with Pdx4wnting and Repor by Charibes: Statement of Re(wmended Praciu aEVcable to drits$ preparmig Iheir finar1 statements In accordarte wilh the FinwKiai ReF#ylwwJ SiaTrJard appl¢caNe in the UK and Republic of ITdand {FRS 102) (effective 1 Jawary 20191- (Charibes SORP {FRS 102)). thè Finala1 ReFrtIng Standard appluUe in the UK and Rewilr¢ ol IrelarKI IFRS 11)21 aThJ the Companies Acl 20C6. The Charity c(Insti a Wb1 bernfft entity as defined by FRS 101 nit#Jn V(Aunlary inix)m8 is receried bl Wdy of dOna1KM and is iluded in lull in the Slalemenl of Financial ActIVit as soon as the Ccthpary is entitlthj to roc8Pt and the amount can be measured with reasonab certaNty. Legaues are irKludgJ as swn as fv Gompany has entiuement aTrJ recelpt is probtho. Tax re¥Brable on o)venants aTrJ grfl aid ino)me rTrIed has been 1ftded as a deblor (We 61. Ic) ve Pthaj Tax The Compary ts not r8gtsièred for VAT purFKws aThJ al costs are irth1 ot VAT. Olfice Equipmenl t>)sting ffKJre than £1.000 is ctydised depreciated. Dewecialion is cakulated lo twrile off the cost of all tari ed assets ovw their estimal&Y useful lives at the lollowing rates per annum: Strauht knr Office Ewiw Expendilure is induded when irTred. The wrecoverall8 efflent of VAT Is included within thè rt8m of expense to whth it relatss. FuThkrwsing o)sts ¥e those Inrred in Sen9 vduntary contrilxrtions and th) nol Ir[le the costs of drsserninatirvJ informaiw in suptK)rt of the charitable activitie& Charitthe acbvibes costs coryyise tlhjse o)sts IrJ1ved directy on the otyects ol the cornpany artd so those costs of an tyidwect nature necessary to SUFWt thern. Govemance costs are those statutory Y1rements. Pension costs are ctorged to the stalwnenl ol lor ts year in which they are I costs are a19d bween the expernkn catw*s ot th& StaterrEnt of Fla1 AlIS on a basi8 desgned to relknf th8 use ol the resour io
PE PLE lfERNATI NA NOTES TO THE FINANCIAL STATEMENT NTIN ED 1DE EMBER Funds held by the Company are efther.. . UnTrslrKted general lunds- Ihese ar8 funds. which can be used In a¢cordanco with the charliable obj-ects al the discrellon ol the Coun¢il Members. • Designated lunds - these are lurKls set aslde by the Trustees out ol unroslrklgd ggneral lurKJ8 for speclllc futurè PUVISOS or projects. . Restrlcled lunds- these are funds that Gan only be used lor particular restr¢cled purp088s w(thln tho objects ol the Company. Reslrf¢tlons aflse wh•n $poclli•d by the donor or when lurth are ra18ed lor partlcular r&strtcted purwsas. Furiher explanalton ol the nature and purFoso ol oach fund Is InclLKlgd In the notes lo Ihe financlal stalem8nts. R8nlal8 payable under oporallno Ioasos are charged to the Statement of Flnan¢lal kllvlllos as In¢urrad ovw iho lem ot the leas8. Dlrecl Support Flaising 2024 2023 Som Employed Workgrs IT so¢9$ and Dalaba8e Project Wo UK Offl¢e Worke Flold Workè Nallonal Offke Conlrlbulion6 Post, Prfntlng and Stallonery Travel and Subsistence Inlernatlonal Movement Support Course$ and Conferon¢os Olher Support Cosis Independent ExamlneVs Fees Other 10 Bulldlng Fund COntrltrAljns Staff Confofgnce Rent and Rates Insurance Grant Writer 5 Year Plan Professlonal SeNitss Miscellaneous Fund Paymènts Exhibilion Costs 2,343 6.936 6,936 38,914 129,144 347,510 10 7,953 3,236 38,914 65,282 347,510 10 5,759 234 99,542 124,298 238,079 10 6,817 4,632 60.488 3,394 1213 3,002 7,020 936 7.020 936 4,216 2,586 2279 7.728 448 4.478 2.460 1.706 363 555 3.927 1,067 1,770 16.936 4216 2,586 2279 27,442 27,442 5,120 1,070 5.120 1,070 18.016 18,016 2,610 11,251 2,610 11,251 E 527,243 £ 84,388 £ 5,980 £981 £618.592 £519,590 Direct expenses relate In largè part £386.424 - {2023 £337,621} to the linanclal support of Peo8 Inlemallonal's overseas personnel and projects InVo•d In gospèl proclamation, discipleshlp, IrainSng. Blble Iranslation, media work and meeting human needs. oihor significant element of direct exp#nsgS (£140,819 2023 £97.205) relates to the woth we do Irom the UK supportlng the church in its wayerful and pracllcal support ot Ihe Central Asian churth in th8 p*oral $POrt ol workers sent by the UK church lo Cgnlral Asi&
TE TH FINANCIAL STATEMENTS CONTINUED 31 DECEMBER 2024 AFF COSTS lal 2024 Staff Costs are as follows: Wages and Salarfes Social Se¢urity Costs Pension Contribultons 112,424 5.493 11.227 108,788 4,991 10,S19 £ 129.144 £ 124,298 The Compary had 4 omF0Yeo$ during the year12023 - 4). The Company made pgnslon ¢ontribulions on behalf of 4 employees during the year12023- 41 lo an independent fund. The Company do¢s not operate its own pension fund. The Company consSders Its key management pgrsonnel comprise the Council Members and the UK Dire¢lor. The total employment benefits including employer penslon contrul10n$ and Social Srity contnbulions of the key management personnel were £52,74812023- £49.6821. There were no employees with emoluments aly)ve £60,000 p.& FUNDS RECEIVED AS AGENT During Ihe year. the Company received, as agents, funds lolalllng £15,437 {2023 . £13,758) from Intemational offices of thg ngtsvork of intemational Christian charities working in Central Asia known as People Inlernalional. The Company was legally k)ound to pay them over io spgcifK field workers and had no responsibility for thelr ultlmale appllcalion. These resources have therefore not been included In the Company's Statement ol Financial Activities and Balance Sheet. Office TANGIBLE FIXED ASSETS At 1 January 2024 Additions Dbposals 20,727 ecember 2024 20.727 At l January 2024 Charge for Year Releas1 by Disposals 20.727 At 31 December 2024 20.727 BOOK VALUE: At 31 Decem All Ilxed assets are used In dlrecl furtherance of the Charity's objectives. 12
LIMITED TE THE FINAN IAL ENTS CONTINUED 1DE EMBE 2023 Income T&¥ Recoverable Other Debtors Prepayments 8,472 200 3.830 4,124 200 9.713 £ 12.502 £ 14,037 CREDITORS: Amounts lalllng due withln one yèar Accruals Taxation and Social Security Other Creditors 10.313 5.179 2,002 9.865 5.997 2,069 £ 17,494 £ 17,931 SHARE CAPITAL The Company has no share capStal, belng limitsd by guarantee. In the event of a windirtg up the members liability is liméled to £10 ea¢h. Balance at 1.1.2024 Incoming Balance al 31.12. Ex nditure NRESTRICTED FUNDS D8SIgnal FurKIs General FUrS 1,630 116,511 1889) 207,715 1157,592} 166,634 £118,141 £ 207,740 £1157,5921 £1889) £ 167,400 Balance at -1.2024 Incomlng source Balance at 31.12.21r24 10 RE TED Office Projects Nationals, Asslstanc8 DIrtorS, Discli0nal Fund Project Funds UK Based OfNce Workers Fleld Workers Stsff Conference Soclal Medla Costs Tuthey Earthquake Rellef 2,412 500 1,125 120 5,CKIO 48,393 16,245 386,959 10,420 7.000 12,7531 11001 {2,9801 144,1621 117.5431 1370,3601 116,8381 {6,2641 520 3.090 46,179 102 196,143 211 3,479 1.070 41,948 1,400 199,544 2,743 181 1181) £ 255,357 £ 455262 £ {461,0001 £889 £ 250,508 13
PLE INTERNATIONAL NOTES TO THE FINANCIAL TATEM NTINUED 31DE EMBER 21724 11 TAL FUNDS Unre5tricled Funds Restricted Fund Totsl Fund Balance5 al 31 mber 2024 are reFyesenled by: Current Assets Current Liabilities 184.895 117,4951 250.508 435,403 {17,4951 £ 167.4CKJ £ 250.508 £ 417.908 12 DIRECTORSJCOUNCIL MEMBEAS EXPENS Expenses payments tOli1j £423 wwe made in tho year. No salary payments were mado lo Dlreclorslcouncil Members. or any Perno connected with th8m during the year. 13 SECO ITMENT The Coun¢il ol Manwjement have entered an agreemont wlh thg Trustees of PeoFde Intemabon Worldwide in respecl of the propety purchased by PeoF4e Inlemaliond WortdwKle and currently partty OCCUPHed by People International knrNted. TIMS is In recognilion that part ol the orlgind lundlng wa5 raised through Peo Intemalronal Limited. It was agreed that thè tharity *ryl pay an annu rent of £10. contritrxts 40% of the Gosl of maintning and operating the proFety ar Ihal PecfAe 1ntemallon will e1Ve on• third of vdug of the FW8rty Suld it be sold or rf People Intemational gives notice aThY vacates IL 14 RELATED PARTY TRANSA Income of £Nil12023- £24,760) £5.0{2023- £ Nil) was received from Eurasian Ministries UK Trust, a registered charity. for adminislralNe Serv Kyovided and donation on Closure respe¢lNely. The Tnjslees ol People Int•malional Limited were also Tntstees ol Eurasian Minlstrfes UK TrusL Eurasian Ministriés UK Tll1 ceased opwatK)ns in Decèmb8r 2023. Donatn$ received from Tntstees arKI related parbes totakd £7.210 (2023. £8.9001 for the year. 14
PLE IE IMITED E AND EXPENDI RE ACCOUNT RE Donation5, Glfts and Legacbes for Restricted Funds Donations, Gifts and Legacles for General Funds Granl Income- Restricted FurKI Euraslan Mlnislries Support INte$t Recelvable Poopl• Inlernatlonal Worldwlde Support Reimbursements Turkey Earthquake Rell81 Other Income EM Closure 443.761 193,513 7.000 356.162 127,024 5.000 24,780 5,203 3.000 3,201 51,811 2,357 5,000 9.976 3,180 4.501 1,071 663,002 583,538 On tha Oblect ol the Chaflty.. Wages and Salaries National Of11 Conlrlbullons Support Payments lo Fleld Workers Trav•1 and Subsi$t8n¢o Postage and Printing- Liloralure International Movement Support Subscrlpllons Project Funds Courses and Conferences Olher 10 Bulldlng Fund Conlrlbutlons Slaff Conl6renc8 S Year Plan Turkey Earthquake Rel581 Mlscellaneous Fund Payments Exhlblllon Costs 65.262 io 347,510 61,693 10 238,079 5,759 7,020 1.523 38,914 936 756 5.322 7,728 1,175 47,912 531 363 555 16,936 51,830 27,442 18.016 2,610 11.251 527,243 434,826 Cost of Genaratlng Funds 981 2,485 On Other Aroas Iln¢ludlng Support Cost81', Wages and Salarie$ Rent. Rates. Llght and Heal Computer and Ofllce Supplios Poslage. Prlntlng and Stallonery T•lephono, Fax and Emall Repalrs and Malnlenanc8 Accountancy and Independent Examlnation Insurance Sun¢Jry Olfice Cleaning UK Travel and Subsisten¢8 Prolesslonal Servlces SgV-Employed Worker8 63,882 5,120 6,936 1,213 62,605 3.927 3,334 780 402 1,351 2,460 1,067 2,134 591 2,188 1,440 623 2,586 1,070 2,898 399 3,(2 2,343 90.368 82,279 TOTAL EXPENDITURE 618,592 519,590 SURPLUS DEFICIT FOR THE YEA £ 44.410 £ 63,948 15