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.
1. The vision - Raising Christians in confident prayer for the nations.
2. The mission - Training God's people in biblical accuracy, prophetic insight, intimate worship, and informed intercession.
3. The commitment - Sustaining regular intercession for the nation, government, the Church, media, and young adults.
Page 2
## **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.
Page 3
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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:
1. accounting records were not kept in respect of Prayer For The Nations as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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
Page 5
## **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.
Page 8
## **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.
Page 9
## **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|
|---|---|---|
Page 10
## **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.
Page 11
## **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|
|||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|||
|||||795|
|||||**2019**
**£**
21,714
-
84,366
238,045
1,245
960|
|||||346,330|
Page 12
## **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|
Page 13
## **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)|
|||894,535|
Page 14