Annual Report and Financial Statements for the Year Ended 31 December 2022 ## 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 **Charity Registration** 326994 **Number Principal Office** PO Box 15027 London SE5 0YS **Independent Examiner** G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF **Bankers** Lloyds Bank 98 Victoria Street London SW1E 5JL 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 2022. ## **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 the chief executive, Rod Anderson, and his 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 annually, 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. ## **Objectives and activities** ## _**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. ## _**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. Page 2 ## **PRAYER FOR THE NATIONS** ## **TRUSTEES' REPORT (CONTINUED)** ## **Achievements and performance** Prayer For The Nations (PFN) works from the UK however the ministry is international. Since its founding, under the leadership of Rod & Julie Anderson, PFN has been in the vanguard of expanding the strategic frontiers of prayer by hosting prayer gatherings, and teaching seminars & conferences, to promote: 1. The vision - Raising Christians in confident prayer. 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, families and the media. We facilitate the Deborah Company UK, a gathering of leaders and ladies who maintain Christian values in society. Prayer is facilitated through the Deborah Company UK Prayer Courts and by supporting the Prayer for Parliament initiative. During 2020 & 2021 prayer meetings were moved online due to the pandemic. Teaching articles and links to our video teachings are sent by email to our mailing lists. During 2022 Julie Anderson suffered a traumatic brain injury, which compelled the charity to limit its activities to online meetings. Prayer for the Nations has continued to build on strong links with two other charities: The Prayer Foundation (1123018) and Commonwealth Christian Fellowship (8011342). ## **Financial review** ## _**Policy on reserves**_ The Trustees have determined that, in line with their belief that God provides for the work to which He calls His people, no reserves should be maintained for the work of the charity. ## **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 TRusfEES' REPORT (CONTINUED) Statement of Responslbllltles (wlthln Trustees Report) The Trustees are re5pon5ible for preparing the Trustees, report and the financlal statements in accordance with the United Kingdom Accounting Stsndards (United Klngdom Generally Accepted Accountlng Practke) and applicable law and regulations. The law applicable to charities requlres the Trustees to prepare financial statements for each finanaal year whith give a true and fair vlew of the state of affairs of the charity and of the Incoming resources and application of resour￿5 of the charlty for that period. In preparing these financial statements, the Trustees are requlred to: select Sultable accountlng policies and then apply them consistently: • observe the methods and prlndples in the Charitie5 SORP; make judgements and estlmates that are reasonable and prudent: state whether applicable accounting standards have been followed, subject to any materlal departures dlsdosed and explalned In the financial statements; and prepare the financial Statements on the golng concem basis unle55 it Is inappropriate to presume that the charity will contlnue in buslness. The Trustees are responsible for keeping proper accountlng ￿CordS that disclose wlth reasonable accuracy at any tlme the financial position of the charity and enable them to ensure that the flnancial statements comply with the Charities Act 2011, the Charitles (Accounts and Reports) Regulations 2008, and the provislons of the constltutlon. The Trustees are also responsible for safeguarding the assets of the charlty and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularltles. The annual report was approved by the Trustees of the charlty on 16 August 2023 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 Trustees on my examination of the accounts of Prayer For The Nations for the year ended 31 December 2022. ## **Responsibilities and basis of report** As the charity 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 16 August 2023 Page 5 ## **PRAYER FOR THE NATIONS** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022** |**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
11,828
Charitable activities
55,272
Total income
67,100
**Expenditure on:**
Charitable activities
66,189
Total expenditure
66,189
Net income
911
Net movement in funds
911
**Reconciliation of funds**
Total funds brought forward
893,714
Total funds carried forward
11
894,625|**Total**
**2022**
**£**
11,828
55,272
67,100
66,189
66,189
911
911
893,714
894,625|**Total**
**2021**
**£**
42,435
49,942| |---|---|---| |||92,377| |||91,584| |||91,584| |||793| |||793
892,920| |||893,713| The notes on pages 8 to 14 form an integral part of these financial statements. Page 6 PRAYER FOR THE NATIONS BALANCE SHEEr AS AT 31 DECEMBER 2022 2022 2021 Note Flxed assets Tangible assets 1 300 000 1 300 000 1 300 000 1 300 000 Current assets Debtors Cash at bank and In hand 901 969 100 3,156 1,069 Credltors: Amounts falllng due wlthln one year 408 531 394 574 Net current liablllties 405 375 393 505 Total assets less current liabllltles 894,625 906,495 Credltors: Amounts falllng due after more than one year io Net assets 894 625 893 713 Funds of the charlty: Unrestricted income funds Unrestricted funds 894 625 893 713 Total funds li 894 625 893 713 The financial statements on pages 6 to 14 were approved by the Trustees, and authorised for Issue on 16 August 2023 and slgned on thelr behalf by: Lady Susan Sainsbury Trustee The notes on pages 8 to 14 form an integral part of these financlal statements. Page 7 ## **PRAYER FOR THE NATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **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. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. ## **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. ## _**Interest receivable**_ Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. Page 8 ## **PRAYER FOR THE NATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)** ## **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. ## _**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. ## **Taxation** The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **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| Page 9 ## **PRAYER FOR THE NATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)** ## **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. ## **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 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
Other income from donations and legacies|**Unrestricted**
**funds**
**General**
**£**
9,811
1,834
183
11,828|**Total**
**2022**
**£**
9,811
1,834
183
11,828|**Total**
**2021**
**£**
34,892
7,468
75| |---|---|---|---| ||||42,435| ## **3 Income from charitable activities** |**Unrestricted**
**funds**
**General**
**£**
Rental income
55,272|**Total**
**2022**
**£**
55,272|**Total**
**2021**
**£**
49,942| |---|---|---| Page 10 ## **PRAYER FOR THE NATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)** ## **4 Expenditure on charitable activities** |**Note**
Calais street expenses
Telephone
Insurance
Mortgage interest
Miscellaneous
Independent examination
Grant funding of activities
5|**Unrestricted**
**funds**
**General**
**£**
9,834
994
1,726
1,518
17
2,100
50,000
66,189|**Total**
**2022**
**£**
9,834
994
1,726
1,518
17
2,100
50,000
66,189|**Total**
**2021**
**£**
6,376
655
2,529
2,410
14
2,100
77,500| |---|---|---|---| ||||91,584| ## **5 Grant-making** ## **Analysis of grants** |Grants|**Grants to institutions**
**2022**
**£**
**2021**
**£**
50,000
77,500| |---|---| ## **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 2022 (CONTINUED)** ## **7 Tangible fixed assets** |**7 Tangible fixed assets**||||| |---|---|---|---|---| |**Cost**
At 1 January 2022
At 31 December 2022
**Depreciation**
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021
**8 Debtors**
Prepayments
Accrued income
**9 Creditors: amounts falling due within one year**
Bank overdrafts
Bank loans
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
**2021**
**£**
807
162| |||1,300,000
-||| |||1,300,000||| |||1,300,000||| |||**2022**
**£**
598
303
901
**2022**
**£**
-
12,799
73,591
319,060
2,121
960
408,531||| |||||969| |||||**2021**
**£**
303
24,513
77,191
290,312
1,295
960| |||||394,574| Page 12 ## **PRAYER FOR THE NATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)** ## **10 Creditors: amounts falling due after one year** |Bank loans|**2022**
**£**
-|**2021**
**£**
12,782| |---|---|---| 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**
**2022**
**£**
893,714
**Balance at**
**1 January**
**2021**
**£**
892,920|**Incoming**
**resources**
**£**
67,100
**Incoming**
**resources**
**£**
92,377|**Resources**
**expended**
**£**
(66,189)
**Resources**
**expended**
**£**
(91,584)|**Balance at**
**31**
**December**
**2022**
**£**
894,625| |||||**Balance at**
**31**
**December**
**2021**
**£**
893,713| Page 13 ## **PRAYER FOR THE NATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)** ## **12 Analysis of net assets between funds** |**12 Analysis of net assets between funds**||| |---|---|---| |Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted**
**funds**
**General**
**£**
1,300,000
3,156
(408,531)
894,625
**Unrestricted**
**funds**
**General**
**£**
1,300,000
1,069
(394,574)
(12,782)
893,713|**Total funds**
**at 31**
**December**
**2022**
**£**
1,300,000
3,156
(408,531)| |||894,625| |||**Total funds**
**at 31**
**December**
**2021**
**£**
1,300,000
1,069
(394,574)
(12,782)| |||893,713| Page 14