Annual Report and Financial Statements for the Year Ended 31 December 2020
Prayer For The Nations
Charity registration number: 326994
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
PRAYER FOR THE NATIONS
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 14 |
PRAYER FOR THE NATIONS
Reference and Administrative Details
Trustees Lady Susan Sainsbury Rev Douglas Williams Mr Jamie Anderson Principal Office PO Box 15027 London SE5 0YS Charity Registration 326994 Number Independent Examiner G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF Bankers Lloyds Bank 1 Legg Street Chelmsford CM1 1JS
Page 1
PRAYER FOR THE NATIONS
Trustees' Report
The Trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2020.
Objectives and activities
Structure, governance and management
Nature of governing document
Prayer for the Nations is a registered charity, number 326994, and is constituted under a Trust deed.
Recruitment and appointment of Trustees
New Trustees are elected by the Board periodically. New Trustees are provided with historical charity documentation and referred to the Charity Commission website for guidance and publications that are relevant on becoming a Trustee.
Organisational structure
Day to day management and planning of the Trust are delegated to two executives, Rod & Julie Anderson and their team. The Trustees are responsible for the general strategic direction, governance and financial viability and control. They monitor the activities of the Trust through regular reports, management accounts and approval of major items of expenditure. The Trustees meet around 3 times per year, or more frequently if necessary.
Risk management
The trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Objects and aims
The object of the charity is the promotion of the Christian faith by such charitable means as the Trustees in their absolute discretion shall think fit. The principal activity is prayer and teaching people to pray more effectively.
Objectives, strategies and activities
Prayer for the Nations (PFN) works in London and the ministry is international. Teaching is facilitated through Deborah Company UK Online Prayer Courts, seminars, conferences, and other special gatherings and events. It facilitates the Deborah Company UK, gathering leaders and ladies who maintain Christian values in society. Since its foundation in 1991, under the leadership of Rod & Julie Anderson, PFN has been in the vanguard of expanding the strategic frontiers of prayer in the UK.
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The vision - Raising Christians in confident prayer for the nations.
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The mission - Training God's people in biblical accuracy, prophetic insight, intimate worship, and informed intercession.
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The commitment - Sustaining regular intercession for the nation, government, the Church, media, and young adults.
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PRAYER FOR THE NATIONS
Trustees' Report
Public benefit
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
The ministry once again built on the investment in people and projects undertaken in this and previous years.
PFN has continued to build on its strong links through Rod & Julie Anderson with two other charities: The Prayer Foundation (1123018) and Commonwealth Christian Fellowship (801342).
The trustees anticipate the work of the charity to continue despite the adverse effects of Coronavirus.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
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PRAYER FOR THE NATIONS
Trustees' Report
Statement of Trustees' Responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The Trustees 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 annual report was approved by the Trustees of the charity on 2 September 2021 and signed on its behalf by:
......................................... Lady Susan Sainsbury Trustee
Page 4
PRAYER FOR THE NATIONS
Independent Examiner's Report to the trustees of Prayer For The Nations
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on pages 6 to 14.
Respective responsibilities of Trustees and examiner
As the charity’s Trustees of Prayer For The Nations you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Prayer For The Nations's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Prayer For The Nations as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
...................................... G W Schulz ACMA
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
2 September 2021
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PRAYER FOR THE NATIONS
Statement of Financial Activities for the Year Ended 31 December 2020
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 2 62,618 Charitable activities 3 54,531 Total income 117,149 Expenditure on: Charitable activities 4 118,764 Total expenditure 118,764 Net (expenditure)/income (1,615) Net movement in funds (1,615) Reconciliation of funds Total funds brought forward 894,535 Total funds carried forward 11 892,920 |
Total 2020 £ 62,618 54,531 117,149 118,764 118,764 (1,615) (1,615) 894,535 892,920 |
Total 2019 £ 60,215 53,206 |
|---|---|---|
| 113,421 | ||
| 113,214 | ||
| 113,214 | ||
| 207 | ||
| 207 894,328 |
||
| 894,535 |
The notes on pages 8 to 14 form an integral part of these financial statements. Page 6
PRAYER FOR THE NATIONS
Balance Sheet as at 31 December 2020
| Note Fixed assets Tangible assets 7 Current assets Debtors 8 Cash at bank and in hand Creditors: Amounts falling due within one year 9 Net current liabilities Total assets less current liabilities Creditors: Amounts falling due after more than one year 10 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 11 |
2020 £ 1,300,000 852 1,050 1,902 (369,991) (368,089) 931,911 (38,991) 892,920 892,920 892,920 |
2019 £ 1,300,000 795 1,286 |
|---|---|---|
| 2,081 (346,330) |
||
| (344,249) | ||
| 955,751 (61,216) |
||
| 894,535 | ||
| 894,535 | ||
| 894,535 |
The financial statements on pages 6 to 14 were approved by the Trustees, and authorised for issue on 2 September 2021 and signed on their behalf by:
......................................... Lady Susan Sainsbury Trustee
The notes on pages 8 to 14 form an integral part of these financial statements. Page 7
PRAYER FOR THE NATIONS
Notes to the Financial Statements for the Year Ended 31 December 2020
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Prayer For The Nations meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Gift aid
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
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PRAYER FOR THE NATIONS
Notes to the Financial Statements for the Year Ended 31 December 2020
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
No depreciation is provided on freehold property as it is the trustee's policy to maintain these assets in a continual state of sound repair. The useful economic life of these assets is so long and residual values so high that any depreciation would not be material. These assets are subject to annual impairment reviews. Provision will be made if there has been any permanent diminution in value.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Asset class Depreciation method and rate Freehold property None
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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PRAYER FOR THE NATIONS
Notes to the Financial Statements for the Year Ended 31 December 2020
Liabilities
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Fund structure
Unrestricted income funds are general funds that are available for use at the Trustees's discretion in furtherance of the objectives of the charity.
2 Income from donations and legacies
| Donations and legacies; Donations to major appeals Gift aid reclaimed |
Unrestricted funds General £ 50,633 11,985 62,618 |
Total 2020 £ 50,633 11,985 62,618 |
Total 2019 £ 47,390 12,825 |
|---|---|---|---|
| 60,215 |
3 Income from charitable activities
| Unrestricted funds General £ Rental income 54,531 |
Total 2020 £ 54,531 |
Total 2019 £ 53,206 |
|---|---|---|
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PRAYER FOR THE NATIONS
Notes to the Financial Statements for the Year Ended 31 December 2020
4 Expenditure on charitable activities
| Note Calais Street expenses Telephone Insurance Mortgage interest Independent examination Grant funding of activities 5 |
Unrestricted funds General £ 5,765 614 2,639 3,646 2,100 104,000 118,764 |
Total 2020 £ 5,765 614 2,639 3,646 2,100 104,000 118,764 |
Total 2019 £ 7,254 650 3,087 5,183 2,040 95,000 |
|---|---|---|---|
| 113,214 |
5 Grant-making
Analysis of grants
Grants
| **Grants to ** | institutions |
|---|---|
| 2020 | 2019 |
| £ | £ |
| 104,000 | 95,000 |
6 Trustees remuneration and expenses
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No Trustees have received any reimbursed expenses or any other benefits from the charity during the year.
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PRAYER FOR THE NATIONS
Notes to the Financial Statements for the Year Ended 31 December 2020
7 Tangible fixed assets
| 7 Tangible fixed assets | ||||
|---|---|---|---|---|
| Cost At 1 January 2020 At 31 December 2020 Depreciation At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 8 Debtors Prepayments Accrued income 9 Creditors: amounts falling due within one year Bank loans Trade creditors Other loans Due to group undertakings Other creditors Accruals |
Land and buildings £ 1,300,000 |
Total £ 1,300,000 1,300,000 - 1,300,000 1,300,000 2019 £ 619 176 |
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| 1,300,000 - |
||||
| 1,300,000 | ||||
| 1,300,000 | ||||
| 2020 £ 697 155 852 2020 £ 21,714 60 80,791 264,557 1,909 960 369,991 |
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| 795 | ||||
| 2019 £ 21,714 - 84,366 238,045 1,245 960 |
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| 346,330 |
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PRAYER FOR THE NATIONS
Notes to the Financial Statements for the Year Ended 31 December 2020
10 Creditors: amounts falling due after one year
Bank loans
| 2020 £ 38,991 |
2019 £ 61,216 |
|---|---|
The current mortgage was taken out in July 2015 for a seven year term. Interest is charged at base rate plus 4.75%. The loan is secured on the freehold property.
11 Funds
| 11 Funds | ||||
|---|---|---|---|---|
| Unrestricted funds General General Funds Unrestricted funds General General Funds |
Balance at 1 January 2020 £ 894,535 Balance at 1 January 2019 £ 894,328 |
Incoming resources £ 117,149 Incoming resources £ 113,421 |
Resources expended £ (118,764) Resources expended £ (113,214) |
Balance at 31 December 2020 £ 892,920 |
| Balance at 31 December 2019 £ 894,535 |
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PRAYER FOR THE NATIONS
Notes to the Financial Statements for the Year Ended 31 December 2020
12 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets |
Unrestricted funds General £ 1,300,000 4,152 (369,991) (38,991) 895,170 Unrestricted funds General £ 1,300,000 2,081 (346,330) (61,216) 894,535 |
Total funds at 31 December 2020 £ 1,300,000 4,152 (369,991) (38,991) |
|---|---|---|
| 895,170 | ||
| Total funds at 31 December 2019 £ 1,300,000 2,081 (346,330) (61,216) |
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| 894,535 |
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