Charity Registration No. 284857 Company Registration No. 327218 IEngland and Wales} DAILY PRAYER UNION CHARITABLE TRUST LIMITED UNAUDITED TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
DAILY PRAYER UNION CHARITABLE TRUST LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs N M Coombs Mrs C M Heath-whyte The Revd R J Porter Mr G A Rawlinson The Revd S L Smallwood Dr J SLJdell Rev Dr N J C Tucker Mrs S Walter Secretary rs A Putt Charlty number 284857 Company number 327218 Règistèred Office The Vicarage Church Lane Burford OX18 4SD Indepèndènt Examiner TaxAssist Accounlanls 97 Hewlett Road Cheltenham GL52 6BB Bankers National Weslminster 59 station Road New Milton Hampshire BH25 6JA
DAILY PRAYER UNION CHARITABLE TRUST LIMITED CONTENTS Page Trustees, Report 3-5 Indèpendent Examiners, Report ststement of Financial Activitiès Balancè Sh•8t Statemènt of Cash Flows Notes to the Financial Statements 10-13
DAILY PRAYER UNION CHARITABLE TRUST LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present Ihtsir report and the financial stalem8nl for the year ended 5 April 2025, which should be read in conjunction wth the legal and administrative information. The financial statements comply with the Charities Act 2011, the Companies Act 2005 the Memor8ndum and Articles of Association, and the Accounting and Reporting by Charities Stalem&nt of Recommended Practice applicable lo Charities preparing their accounts In 8ccordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 20191- For the purpose ot this report, directors have been described as Trustees. The full name of the Trust is"The Daily Prayer Union Charitable Trust Limiled". The charity is a private company limited by guarantèè and is constituted and governed by its memorandum and articles of association as amended 17 March 2022. Trustees Each Trustee 15 appointed in accordance with the Corllpanies Act pmvisions. Trusle8s who served during the year and up lo the date of this report were as follows". Mrs Nicola Coombs Mrs Clare Healh-whyte The Revd Ray Porter Mr Giles Rawlinson The Revd Simon Smallwood (resigned 15 Oct 20251 Dr Joanna Sudell The Revd Dr Nick Tucker Mrs Sarah Walter The Board of Trustees meets twi08 a year to ascertain the level of funds available for distribution and then reviews grants which are due for renewal and applications for new grants. Trustees are recnJited following p&rsonal recommendation from one of thtt existing Trustees having iegard to Ihe need for an appropriate mix of skills on the Trustee Board. Objectives and activitiès At ils meeting in March 2022, the Trustees passed a special resolution lo alter the Memorandum and Articles of Association, this being the result of Several years, work to ensure that the truslees are continuing lo meet the charily's original obj8Cts, and that the charity is being directed in accordan with most up to dale praolisa. The purpose of the Trust is to make grants for the advancernent of the Christian Religion. The charity has 4 primary objects.. 11 To promote prayer and belief in God the Father, Son and Holy Spirit, and lo maka Him betler known, loved, honoured and worshipped., 21 To promote, safeguard and advance the Protestant and Evangelical te8¢hing and principles of the ChLJrch ol England las al the year 20201 as sel forth in the 39 Articles ol religion and Prayer Book, and the Church ol England Evangelical Council Basis of Faith with ils two additional declarations., 31 To promote, safeguard and advance the Proleslanl 3nd Evangelical teaching and principles of any denominali(>n in the British Isles as sel forth in the UCCF basis of faith 1944", 41 To promote, safeguard and advance the same Protestant and Evangelical leaching and principles and carry on missionary work in any part of the wodd. The Trustees aim to ensure that appropriate levels of cash are available in order to rneel the programme of grants distribution.
DAILY PRAYER UNION CHARITABLE TRUST LIMITED TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 In order to meet these primary objedives, the trustees are now Considering these five main areas in which Ih8y are looking to make grants.. 11 Ministry Training 21 Education 31 Mi5SlOn 41 Media, Publishing and Broadcasting 51 Evangelism Risk The Trustees established a Risk Register during the year 2023, idèntifying the range of risks to which the charity might be exposed, along with a score, and actions to mitigate each of the identified risks. This Risk Registér was reviewed at the November 2023 meeting and will be revi8w8d on an annual basis. Achievements and perfomiance The Trust is the beneficiary of all the income from the Sir Edgar Plummer Will Trust, while Church Society is the ultimate capiial beneficiary of the Sir Edgar Plumrner Will Trust. The Twslees signed z MemorandLJm of Understanding with Church Society on 16th March 2023, with both parties agreeing to appoint Church Society as Trustee of the Sir Edgar Plummer Will Trust in place of Ludlow Trust Company Ltd. The work associated with this transfer was completed in December 2023 and funds began to be transferred to DPU from the new Trustee of the Sir Edgar Plummer Will Trust from June 2024. The trustees continue to review the grant m8king process on a regular basis to ensure that the Charity rneels ils objectives, and have clzrified their approach lo grant making via a grant making procedure paper and a seeking to idenlify specific causes and individuals under each of the 5 main areas listed under Ihe Objectives and Activities abov8_ They have begun to identify organisations and institutions with which ta partnèr in identifying causes and individuals so that support can b8 focu58d, wherever possible on causes, and individuals who are endorsad. supported by or overseen by these organisalions. Financial review The Trustees are grateful for the income received from the Sir Edgar Plummer Will Trust which has provided a subslanlial and ogular income stream over many years. The charity is wholly reliant on this income. Income from the Sir Edgar Plummer Will Trust improved rllarkedly during the year 2024-2025. under the new trusteeship of Church Society. The Trust holds £21,819 of investments, as shown in note 8 to the f1nzncial statements12024 £21.1001, and which are held as reserves. The rn3rket value of investments is reviewed regularly, and the income stream ig considered lo ensure that income aocruing is in line with the Trust'5 expectations. The investments are held in accordance with the Trustees, powers. The Trustees also aim lo hold an optimum level of cash on deposit and the minimum on non-inleiesl bearing accounts, in order to maximise the income accruing to the Trust. Thé results for the year and financial position of thè Trusl ar& as shown in the annexed financial statements. Grants tolalling £17,00012024.' £14.0001 have been paid out during the year. All grants wèrè paid lo institutions and individuals within the scope of the Trust's chariiable objeclives. The surplus transferred lo reserves is £30,73112024'. £8,3971.
DAILY PRAYER UNION CHARITABLE TRUST LIMITED TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 Reserves poll¢y The Trustees have had a policy lor rnany years ol seeking to maintain reseNes equal to six months of operational expenditure. More recendy, as incomè has fallen and the number ol granl applications has r9duced, serveS have been used to meet both granl exp8¥Kliture, and also the costs associat8d with the govemance activities of the last few years. Thtr transfer of the trusteeshlp to Church Society wa5 cornpleled In Dècernbef 2023, and so this financial year12024-20251 represents ihe first fvll y8ar of a significantly increased In¢orne from the Sir Edgar Plurnffler Will Trust. The woth on the Memorandum and Aiticles has enabled the trustees lo refocus attention on the 5 key grant areas ol Ministry Training, Education, Mission, Media, Publishing and Broadcasting, and Evangelistn, wifh tha establishing of several new relationships, which will increase tho flow of appropriaie grant applications, bui thi5 work will take tirne to flow through into in¢rgased grants and a reduction in reserves. The tolal net assets of £66,34212024-. £35,611) now exceed our reserves pg1i¢y Ihreshold of £14,020 12024.. £13,0601 by £52,32212024.' £22,5511. The Tru$t88s have reviewed the reseNes of th8 TrLJsI and consider this levgl ol Irge reserves to be appropriale to nae the Trust to ¢onlinue ils grant fflaking acliwty at the current time, given the uncèrtainties ol both income and expenditure ot the last few years. It is expected that this level of reseNes will redu as more grants are offered in the coming years, and this level ol reserves will be k8pl ur4der regular review to ensure the smooth running of the charity, and to rnaximise its grant making activtty. The trustees will also consthr redueing the level of reservas Irom 6 months ol op8rational expeNliture to 4 moftihs dependIr un the regularity ol the income. and the level of grant apF4ications in any year. Thg Trustees, report has been prep3rgd in accordance with the special provisions within Part 15 of the cornpanies Act 2006. Public BenetÉl requirement The TTUStees confirm that they have referrj to the guidanee contained in the Charity Commission's gener guidance on public b8n8fit and have given due consideration to this guidan in lation to the Public Benefit rgquirement, and ill running the Charily and reporting ils activities. On behalf ol the Board of Trustees G A Rawllr¢son Chalr of Trustees Dalè
DAILY PRAYER UNION CHARITABLE TRUST LIMITED STATEMENT OF FINANGIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 Independent examiner's report to the Trustees of Daily Prayer Union Charitable Trusl Limited I report lo thè trustees on my examination of the accounts of Daily Prayer Union Charitsble Trust Limitèd for the yèar énded 5 April 2025. which comprise of the Statement of Financial Aclivilies, the Balance Sheet, the Statetnent of Cash Flows and the notes lo the accounts, including a summary of significant accounting policies. Respèetivè rèsponslbllities of Trustees ad examiner As th8 tnjstees of the charitable company land, also the directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.lhe Companies Act'l. Having satisfièd ourselves Ihat the accounts ol the Charitable Company are not required to be audit8d under Part 16 of the Companies Acl and are eligible for independent examination, we report in respect of our examination of the charity's accounts carried out under section 145 of the Charities Act 2011 I'the Charities Acl'l and in Carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Charities Act. ndependent examiner'5 report I have completed my exarninalion. I confirm that no matarial mallers have come to my attention in connection with the examination giving me caus8 lo b81ieve that in any material respect.. Accounting records were not kept in respect of the charitable company as required by section 386 of the Companies Act., or 2. The accounts do not accord with those records- or 3. The accounts do not comply with the accounting r&quir6ments conceming the form and content of accounts set out in the Chariles IAccounls and Reports) Regulation 2008 other Ihan any requirement that the accounts give a 'lrue and lair, view which is not a matter considered as part of an independent examination. I have no concems and have come across no alher matters in connection with Ihe examinalion lo which attention should be drawn in this report in order ta enable a proper understanding of the accounts to be reached. TaxAssist Accountants Date
DAILY PRAYER UNION CHARITABLE TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 2025 2024 Notes Income and èndowments from Legaci85 Investrnents Sundry 57,447 606 33,142 473 Totsl Income 58,053 33,615 Expenditure on Charitable activities Other 17,000 14,000 12,121 Total Expenditure 28,041 26,121 Net incomellexpenditurel 30,012 7,494 N&t gainslllossesl on investments 719 903 Nèt movement in funds 30,731 8,397 Reconciliation of funds- Total funds brought forward 35,611 27,214 Total funds carried forward 66,342 35,611 The Stalemenl of Financial Activities includes all gains and losses recognised in the year. All operations are ¢1859ed as continuing. All funds are unr8slri¢led.
DAILY PRAYER UNION CHARITABLE TRUST ulAED BALANCE SHEET FOR THE YEAR ENDED 5 APRIL 2025 2tr25 2024 Notes Flxed Assets Investmènts Curront Ass&ts Cash at Bank and In hand Credilors= arnounts lallino due wlhin one yèar 51,524 17.0011 20,012 15.5011 Ngt Current Assets T¢tri Assets tg$8 ¢UTrenl Ilabilittes 66.342 3S,611 The funds of thé eharlty: Unre5tri¢ted funds 66,342 35,611 Thasa financial Statem1$ havè baèn prèpare(I Irl accordance with the speclal provisions relating to smdl companie5 Wtthin Part 15 01 th6 Companias Act 2006. For the year ending 5 April 2025 the company was enlilled to exemplon Irom audit under section 477 01 the Companles Act 2006 relating to small Companies and no notice has been deposited und8r section 476. Th8 Trustees acknowAedg8 their responsibilthes lor ensuring that the Cornpany ke8ps a¢counting records which cornply with section 386 of the Act and for prèparing financi statements which glva a true and fair vlew ol thè Slate of affairs ol the Company as at the end ol the tinancial year and of its surplus or delieit for the financial year in awordance wilh the requirements ol seciSons 394 and 395 and which othgrwise comply with the requirements otthe Companies Acl 2006 relating to financial statÈm6nts. so lar as applicaWe lo the company. The financial staigments wer9 appmvod by the Board on I f~ Zg2r G A Rawlinson Chair ol Trustees
DAILY PRAYER UNION CHARITABLE TRUST LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2025 2024 2024 Notes Cash Iused inllfrom operatlng activities 30,906 9,020 Cash flows from investing activities Proceeds from sale of Inveslmenl Investment income 606 473 IDecr&aselllncrease in cash and cash equivalénts in the year Cash and cash equivalents at the beginning of the year Total cash and cash equivalents at thè beginning of the year 31,512 9.493 20.012 10,519 51,524 20,012 Analysis of changes in net funds At 6 Aprll 2024 C3shflows Other non-cash changes At 5 April 2025 Cash 20,012 31,512 51,524 Total 20.012 31,512 51,524
DAILY PRAYER UNION CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting policiès 1.1 Basis of preparation Daily Prayer Union Charitable Trust is a charitable company, limil&d by guarantee, registered in England and Wales Icharity registration number.. 284857,. company registration number 3272181. The registered office address is The Vicarage, Church Lane, Burford, OX18 4SD. The financial statements are prepared under the historical cost convenbon rnodified lo include the revaluation of eertain fixed assets, sp8cifi¢ally fixed asset invtsslmants and in accordanc8 wth applicab5e accounting standards. The financial statements have been prepared in accordance wlh Accounting and R8POrting by Charities Ststemenl ol Recommended Practice applicable lo charities preparing their accounis in accordance with the Financial Reporting Standard applicable in thè UK and Republic ol Ireland {FRS 1021 leffe¢tive 1 January 20191- Icharites SORP IFRS 1021 the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companie5 A¢1 2006. The Trust is a Public Benefit Entity as defined by FRS 102. The Trustees are confidenl that the charily will be able to meet its financial obligations as they fall due for the foreseeable future and therefore consider it appropriate to prepare the financi81 statements on an ongoing basis. 1.2 Income from Investments Dividends are included in the financial slaleménts when they are received. 1.3 Invèstments Investments are v8lued at market value. All gains and losses are taken lo the statement of Financial Activities, in accordance with the Charities SORP. 1.4 Finanelal Instruments The Trust only has linanoial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently at their settlement value, with the exception of the fixed asset investment that is revalued al the end of each financial reporting period wilh the difference being recognised iri the Slal8m8nt of Financial A¢liviti8S. 1.5 Income from legacies Income is ceiVed by way of legacies for which enti15ement is taken as the earlier ol the dale on which éither.. the charity is aware that probate has been granted, the eslale has been finalised and notification has been made by the execulorlsl lo the Trust that a distribution will be made, or when a distribulion is received from the estate. Receipt ol a legacy, in whole or in part. is onSy considered probable when the amounl call be rneasud reliably, and the Charity has been notified of the executor's intention lo make a distribution. 1.6 Expenditure All &xpenditure, other than that which has been capitalised, is included in thè Statement of Financial Aclivilies. Account is taken of goods and services received al th8 year end bul not invoi¢ed until after this dale Governance costs ar& those costs associat8d with the govemance 8rrangements, which prim3rily relale to conslilutional and stalulory requirements and include the strategic planning process that contribute lo the futLJre development for the Charity. Support Costs are those costs associated with the general running of the charity, both resources and staff costs. 1.7 Grants payable Grants are accounted for when a commitment to pay arises. io
DAILY PRAYER UNION CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 2. Judgements in applying accounting policies and key sources of estimation uncertainty The Trustees consider that there are no areas of the financial statements where key judgements are required nor are there areas of eslimalion Ljncertainty. Investmènt Income 202S 2024 Fixed inleresl investment fund 606 473 4. Grants payable 2025 2024 Publishing & Broadcasting Training & Education Overseas Mission 2,000 11,000 1,000 17,000 17.000 14,000 Grants to Institutions 2025 2024 Morden Church- Argentinian Ministry RTS Charlotte CYFA camp for St Matthews Jesus Lane Trust Crosslinks London City Mission Crosslands 1.000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 7,000 1,000 Other Instilulional Grants under £1,000 Grarits lo individuals 10,000 13,000 17,000 14.000 li
DAILY PRAYER UNION CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 5. Support costs 2025 2024 Sècretary's Expenses Secretary's Expenses Consultant Secretary Services Sundries 750 8,508 12 8,004 16 Governance Costs Trustees, Expenses Professional Fees Room Hire Indepèndent Examinels Fees 146 595 2.000 863 1,500 125 1,500 11,041 12,121 6. Total resources expended Other Total 2025 costs Total 2024 Grants payable Govemance costs Other Support Costs 17,000 2.521 8,520 17,000 2,521 8,520 14,000 4,101 8,020 28.041 28.041 26,121 7. Trustees None of the Trustees lor any persons connected with Ihgml received any remuneration during the year, but four Tmslees were r8imbursed a lotal of £146 for travelling expenses12024 three trustees ." £5951. 8. Fixed asset investments Market value al 6 April 2024 Disposal in year Change in value in the year 21.100 719 Market value at 5 April 2025 21,819 Historical cost At S April 2025 21,547 Al 5 April 2024 21,547 12
DAILY PRAYER UNION CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED} FOR THE YEAR ENDED 5 APRIL 2025 9. Creditors: amounts falling due within one y8ar 2025 2024 Othèr creditors 7,001 5,501 10. Financial instruments Financial assets measured at lair value comprise of the investment in thè fixed interest fund. 11. Raconciliation of net movem&nt in funds to net cash flow from operating activities 2025 2024 Net movement in funds Add backllldeducll investment revaluation Deduct investment Income (Decreaseyincrease in creditors 30,731 17191 16071 1,500 8,396 19031 14731 2,000 Net cash (used inll generated from operating activities 30,906 9,020 12. Rélated party transactions Trustees, expenses are disclosed in nola 7. Each year every Trustee has the option to make a grant lo an indiwdual or organisation of their own choice. In addition. each year gr8nls Can be made to organisations where one of the Charity's Trustees is also a tnjstee or director. Tho grants made are listed in note 4. During the year no trustee granl12025.. £Nill was paid lo Ihe Railway Mission of which one of the Tiustees was a director. 13