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2020-03-31-accounts

Revival F@rnlowshii North London Revival Bookshop Annual report and financial statements Year ended 31 March 2020 Charity no. 1020984

North London Revival Bookshop Annual report and financial statements Year ended 31 March 2020

Contents

Contents

Legal and administrative information 2
Trustees’ annual report 3
Independent examiner’s report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9

Registered charity no. 1020984

1

Legal and administrative information

North London Revival Bookshop Annual report and financial statements Year ended 31 March 2020

Legal and administrative information

Charity name North London Revival Bookshop North London Revival Bookshop
Charity registration no. 1020984 (England & Wales)
Registered office 73 Drummond Drive
Stanmore
HA7 3PH
Trustees Mr M Polhill (Chair)
Mr M Gladdish
Mr W Sharrock
Independent examiner Andy Nash Accounting & Consultancy Ltd
Units 24 & 25
Goodsheds Container Village
Hood Road
Barry
CF62 5QU
Principal bankers Barclays Bank PLC
1 Churchill Place
London
E14 5HP

Registered charity no 1020984

2

Trustees’ annual report

North London Revival Bookshop Annual report and financial statements Year ended 31 March 2020

Trustees’ annual report

The Board of Trustees submit their annual report and the financial statements of North London Revival Bookshop for the year ended 31 March 2020. The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, including the Charity Act 2011, as well as the requirements of the Charity's governing document and the provisions of the ‘Charities SORP (FRS 102) - 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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Objectives and activities

Objects

The objects of the Charity are set out in the Charity’s trust deed and are to advance the Christian religion particularly by the publication of books, pamphlets and leaflets. The objects also include the ability to establish, assist and support charitable organisations and activities for the promotion of Christian missionary education and evangelical work.

Activities

North London Revival Bookshop was set up for the furtherance of the Bible-directed gospel through the sale of Bibles, gifts and Christian literature.

We promote Christian values and teachings through regular meetings at the hall; monthly street outreaches where we establish links with the local community; dinner evenings and concerts which we make freely available to members of the public; planned outings, walks and cultural events to promote fellowship and a sense of social commitment and responsibility.

Clear Bible teaching is a foundation of the Charity combined with a practical application of these teachings in the lives of members of the fellowship and their families. We use our resources, both financial and practical, to introduce these opportunities to people in the surrounding community. Commitment to the Charity is voluntary, and service is seen as a ‘free will offering’.

The Charity will sometimes, however, cover the expenses of members where those expenses are directly related to the work of the Charity.

The Charity also helps run large scale conventions and ‘camps’ which are nationally organised and coordinated with other affiliated fellowships that fall under the umbrella organisation of Revival Fellowship International.

All activities are carried out in line with the doctrinal basis of the organisation which states that as a community the attendees believe:

A more complete version of this doctrinal basis of belief is found within the Declaration of Trust dated 28March 1993.

Throughout the process of determining these activities, the Trustees confirm that they have complied with their duty in section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.

Achievements and performance for 2019-2020

We continue with our primary objective which is preaching the gospel of Jesus Christ. Our mission is to lead as many as possible to know His message and receive salvation. We regularly outreach to the community either by personal conversation or by distribution of printed leaflets. This always includes an invitation to attend any of our meetings and activities. Many visitors comment on the welcoming, family atmosphere. We vary our events to make them accessible to young and old and for the diverse population of Wealdstone and further afield. These activities include concerts, coffee mornings, dinner evenings, presentations, games nights and quiz evenings.

We always support an annual international convention alongside our West London assembly and have supported our members to attend a variety of camps throughout the year.

We continue leasing the hall, where we run meetings every Wednesday and every Sunday, which are central to all we do. Most of our Saturday events are held at the hall. We also run smaller groups in other areas midweek. Our bookshop sells bibles, cds and booklets, all with the same aim of furthering the gospel.

After ten years in our base on the high street, we have become an established presence within the area and maintain good relationships with the locals. The high street close by benefits from both our business and our good example and conduct.

Plans for the future

As soon as the new lease has been agreed, our intention is to replace some of the windows, carry out repairs or replacement where necessary to remainder of the roof and generally refurbish and decorate the hall. We plan our activities usually in the October 2021.

Registered charity no. 1020984

3

Trustees’ annual report

North London Revival Bookshop

Annual report and financial statements Year ended 31 March 2020

Financial Review

During the current financial year the Charity achieved a surplus of £11,511 (2019: £216), increasing total reserves at year end to £186,368 (2019: £174,857).

All reserves held at year end (£186,368) were unrestricted in nature (2019: £174,857).

Reserves policy

The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately one year of rent and ongoing expenses. This is estimated to be £25,000 for 2020-2021, increasing to £30,000 over the next five years to allow for the staggered increase in rent. This should exclude expenditure on camps, conferences and other retreats as these events aim to be generally self-funded. It will also ensure that support and governance costs are covered.

The balance held as unrestricted funds at 31 March 2020 was £186,368 all of which is regarded as free reserves. The current level of reserves is therefore higher than is needed. The trustees expect to reduce the unrestricted funds following the signing of the new lease. Repairs / replacements to the roof and windows and general refurbishment and maintenance will be undertaken as soon as practicable after the new agreement is finalised.

Structure, Governance and Management

Governing document

A Declaration of Trust was completed on 28 March 1993 and updated on 18 February 1997 to take account of the changes in accounting and scrutiny requirements for charities, enabling the Charity to have an independent examination as opposed to a full statutory audit.

Recruitment and appointment of Trustees

Trustees are elected onto the Board through nomination by the current Trustee Board. New Trustees are provided with an induction by the current members.

Under the Declaration of Trust, the number of Trustees shall not be less than three nor more than ten. A quorum is formed when one half of the Trustees are present or three, whichever is the greater number. All decisions are made by the Trustees.

Use of volunteers

All activities and roles within the Charity are filled by volunteers and there are no paid members although, as mentioned above some expenses are occasionally covered.

Principal risks and how they are managed

The principal risks as identified by the Trustees are:

Statement of Board of Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.

Charity law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of the excess of income over expenditure for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and 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. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Charity and to prevent and detect fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity’s website.

Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In addition, the Trustees confirm that they are happy that the content of the annual review in pages 3-5 of this document as well as the legal and administrative information on page 2, meet the requirements of the Trustees’ Annual Report under charity law.

They also confirm that the financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities

Registered charity no 1020984

4

Trustees’ annual report

North London Revival Bookshop

Annual report and financial statements Year ended 31 March 2020

preparing their accounts in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

This report was approved and authorised for issue by the Board of Trustees on 23 December 2020 and signed on its behalf by:

Martin Polhill

Pastor/Chair of the Board of Trustees

Registered charity no. 1020984

5

Independent examiner’s report

North London Revival Bookshop Annual report and financial statements Year ended 31 March 2020

Independent examiner’s report to the Board of Trustees of North London Revival Bookshop

I report to the Trustees on my examination of the accounts of North London Revival Bookshop (Charity number 1020984) for the year ended 31 March 2020 set out on pages 7 to 14.

Respective responsibilities of trustees and examiner

The Charity's Trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Charities Act). The Charity’s Trustees consider that an audit is not required for this year under section 144 of the Charities Act and that an independent examination is needed.

It is my responsibility to:

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:

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.

This report, including my statement, has been prepared for and only for the Charity’s Trustees as a body. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body for my examination work, for this report, or for the statements I have made.

Basis of independent examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters.

Andrew Philip Nash ACA

Member of the Institute of Chartered Accountants in England and Wales – 2461833

Dated: 23 December 2020

Andy Nash Accounting & Consultancy Ltd

Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU

The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Registered charity no 1020984

6

North London Revival Bookshop Annual report and financial statements Year ended 31 March 2020

Balance sheet

Statement of Financial Activities

For the year ended 31 March 2020

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2020 2020 2020 2019
Notes £ £ £ £
Income from:
Donations and legacies 2 48,760 - 48,760 53,871
Investments 906 - 906 10
Total income 49,666 - 49,666 53,881
Expenditure on:
Charitable activities 3 38,155 - 38,155 53,665
Total expenditure 38,155 - 38,155 53,665
Net income/(expenditure) 11,511 - 11,511 216
Reconciliation of funds:
Balance brought forward 7 174,857 - 174,857 174,641
Balance carried forward 7 186,368 - 186,368 174,857
----- End of picture text -----*

*Income from investments was unrestricted in both the current and prior financial year

The notes on pages 9 to 14 form part of the financial statements.

Registered charity no. 1020984

7

Statement of financial activities

North London Revival Bookshop Annual report and financial statements Year ended 31 March 2020

Balance Sheet

As at 31 March 2020

----- Start of picture text -----
Total Total
Funds Funds
2020 2019
Notes £ £
Fixed assets:
Tangible fixed assets 4 - 2,038
Current assets:
Debtors 5 8,749 6,597
Cash at bank and in hand 186,504 168,652
Total current assets 195,253 175,249
Creditors - amounts falling due
within one year 6 (8,885) (2,430)
Net current assets 186,368 172,819
Net assets 186,368 174,857
Funds of the charity:
Unrestricted funds
General funds 7 & 8 186,368 174,857
186,368 174,857
Total funds of the charity 186,368 174,857
----- End of picture text -----

The notes on pages 9 to 14 form part of the financial statements.

These financial statements were approved and authorised for issue by the Board of Trustees on 23 December 2020 and signed on their behalf by:

Martin Polhill

Pastor/Chair of the Board of Trustees

Registered charity no 1020984

8

Notes to the financial statements

North London Revival Bookshop Annual report and financial statements Year ended 31 March 2020

Notes to the financial statements

1. Accounting policies

Basis of preparation of the financial statements

The financial statements have been prepared in accordance with ‘Charities SORP (FRS 102) - 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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The effect of any event relating to the period ended 31 March 2020, which occurred before the date of approval of the financial statements by the Board of Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 31 March 2020 and the results for the year ended on that date.

The functional currency of the Charity is sterling.

The amounts in the financial statements are rounded to the nearest pound.

Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.

Going concern

The financial statements have been prepared on the going concern basis as the Board of Trustees is confident that future reserves and future income is more than sufficient to meet current commitments. There are no material uncertainties that impact this assessment and the ongoing COVID-19 pandemic has no material impact on this assessment.

Legal status

North London Revival Bookshop is a charitable trust registered in England and Wales and meets the definition of a public benefit entity. In the event of the Charity being wound up, the Trustees of the Charity hold no liability. The registered address is 73 Drummond Drive, Stanmore, HA7 3PH.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or that have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund, where applicable, is set out in note 7 of the financial statements – there are currently no restricted funds within the Charity.

Income

Income is recognised when the Charity has entitlement to the funds, any performance indicators attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Donations are recognised in full in the Statement of Financial Activities when entitled, receipt is probable and when the amount can be quantified with reasonable accuracy. Gift aid receivable is included when claimable. Income from individuals relating to camps and similar activities are treated as donations as the Trustees allow discretion on the amount received dependent on the financial ability of the individuals attending.

Income from charitable activities is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless it relates to a specific future period or event, in which case it is deferred.

Expenditure and irrecoverable VAT

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.

Indirect costs, including governance costs, which cannot be directly attributed to activities, are allocated directly to charitable activities as any fundraising costs are immaterial. A breakdown of these expenses is outlined in note 3 of the financial statements.

Irrecoverable VAT is charged against the category of expenditure for which it was incurred.

Tangible fixed assets and depreciation

Fixed assets related to the freehold land (excluding investments) are stated at cost and capitalised when the cost exceeds £500. Smaller items of equipment are written off to the Statement of Financial Activities in the year of purchase.

Depreciation is provided for at a rate to ensure the items are written down over their useful economic life as follows:

Leasehold improvements Life of lease

Cash at bank and in hand

Cash at bank and in hand includes cash in hand, deposits with banks and funds that are readily convertible into cash at, or close to, their carrying values, but are not held for investment purposes.

Debtors and prepayments

Trade and other debtors are recognised at the settlement amount after any trade discount is applied. Prepayments are valued at the amount prepaid net of any trade discounts due.

Registered charity no. 1020984

9

Notes to the financial statements

North London Revival Bookshop Annual report and financial statements Year ended 31 March 2020

Creditors and accruals

Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably.

Critical estimates and judgements

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The treatment of tangible fixed assets is sensitive to changes in useful economic lives and residual values of assets. These are reassessed annually.

Financial instruments

Basic financial instruments are measured at amortised cost other than investments which are measured at fair value.

In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

2. Income from donations and legacies

----- Start of picture text -----
Unrestricted Restricted Total
Funds Funds Funds
2020 2020 2020
£ £ £
-
Donations including contributions towards camps 48,760 48,760
48,760 - 48,760
Unrestricted Restricted Total
Funds Funds Funds
2019 2019 2019
£ £ £
-
Donations including contributions towards camps 53,871 53,871
53,871 - 53,871
----- End of picture text -----

Registered charity no 1020984

10

Notes to the financial statements

North London Revival Bookshop Annual report and financial statements Year ended 31 March 2020

3. Expenditure on charitable activities

----- Start of picture text -----
Unrestricted Restricted Total
Funds Funds Funds
2020 2020 2020
£ £ £
-
Camps and social functions 11,983 11,983
Premises 18,638 - 18,638
Other direct costs 1,329 - 1,329
Administrative costs 4,928 - 4,928
Governance costs 1,277 - 1,277
38,155 - 38,155
----- End of picture text -----

----- Start of picture text -----
Unrestricted Restricted Total
Funds Funds Funds
2019 2019 2019
£ £ £
-
Camps and social functions 14,799 14,799
Premises 35,693 - 35,693
Other direct costs 342 - 342
Administrative costs 1,655 - 1,655
Governance costs 1,176 - 1,176
53,665 - 53,665
----- End of picture text -----

Governance costs includes:

----- Start of picture text -----
Total Total
Funds Funds
2020 2019
£ £
Independent examination 810 810
Insurance 467 366
1,277 1,176
----- End of picture text -----

Registered charity no. 1020984

11

Notes to the financial statements

North London Revival Bookshop Annual report and financial statements Year ended 31 March 2020

4. Tangible fixed assets

5. Debtors

----- Start of picture text -----
Leasehold Total
improvements fixed assets
£ £
Cost
As at 1 April 2019 18,175 18,175
Decapitalised in period (18,175) (18,175)
As at 31 March 2020 - -
Accumulated depreciation
As at 1 April 2019 16,137 16,137
Decapitalised in period (16,137) (16,137)
As at 31 March 2020 - -
Net book value
As at 1 April 2019 2,038 2,038
As at 31 March 2020 - -
Total Total
Funds Funds
2020 2019
£ £
Loans to community members 2,700 3,000
Prepayments 110 3,175
Other debtors 5,939 422
8,749 6,597
----- End of picture text -----

6. Creditors – amounts falling due within one year

----- Start of picture text -----
Total Total
Funds Funds
2020 2019
£ £
Accruals 8,885 2,430
8,885 2,430
----- End of picture text -----

Registered charity no 1020984

12

Notes to the financial statements

Annual report and financial statements Year ended 31 March 2020

North London Revival Bookshop

7. Analysis of charity funds

----- Start of picture text -----
Balance Income Amounts Transfer Balance
brought received expended between carried
forward in year in year funds forward
2020 2020 2020 2020 2020
£ £ £ £ £
Unrestricted funds
General funds 174,857 49,666 (38,155) - 186,368
Total funds 174,857 49,666 (38,155) - 186,368
Balance Income Amounts Transfer Balance
brought received expended between carried
forward in year in year funds forward
2019 2019 2019 2019 2019
£ £ £ £ £
Unrestricted funds
General funds 174,641 53,881 (53,665) - 174,857
Total funds 174,641 53,881 (53,665) - 174,857
----- End of picture text -----

8. Analysis of net assets

----- Start of picture text -----
Unrestricted Restricted Total
Funds Funds Funds
2020 2020 2020
£ £ £
Current assets 195,253 - 195,253
Current liabilities (8,885) - (8,885)
186,368 - 186,368
Unrestricted Restricted Total
Funds Funds Funds
2019 2019 2019
£ £ £
Fixed assets 2,038 - 2,038
Current assets 175,249 - 175,249
Current liabilities (2,430) - (2,430)
174,857 - 174,857
----- End of picture text -----

Registered charity no. 1020984

13

Notes to the financial statements

Annual report and financial statements Year ended 31 March 2020

North London Revival Bookshop

9. Other financial commitments

At 31 March 2020, the Charity had future minimum lease payments under non-cancellable leases (all for land and buildings) as set out below:

----- Start of picture text -----
Total Total
lease lease
payments payments
2020 2019
£ £
Due within one year 16,875 12,700
Due within two to five years 61,875 3,175
78,750 15,875
----- End of picture text -----

During the year lease payments totalling £14,425 were made (2019: £12,700) all relating to land and buildings.

10. Trustee remuneration

During the year, no Trustee received any remuneration (2019: £NIL). No members of the Board of Trustees received

reimbursement of expenses related to attendance at Trustee meetings (2019: £NIL).

11. Related party transactions

There were no transactions with related parties during the year (2019: £Nil).

Total unrestricted donations from Trustees amounted to £7,174 (2019: £6,516).

Registered charity no 1020984

14

2020-12-23

NOR002 - Final Accounts - 31 March 2020

Final Audit Report

Created: 2020-12-23 By: Andrew Nash (andy@andynashac.com) Status: Signed Transaction ID: CBJCHBCAABAA8YH-npEactAJA8vcVmCiL4hsVcJKh3k9

"NOR002 - Final Accounts - 31 March 2020" History

Document created by Andrew Nash (andy@andynashac.com)

2020-12-23 - 3:20:40 PM GMT- IP address: 78.33.47.179

Document emailed to Martin Polhill (martinpolhill@netscape.net) for signature

2020-12-23 - 3:21:40 PM GMT

Email viewed by Martin Polhill (martinpolhill@netscape.net)

2020-12-23 - 6:09:49 PM GMT- IP address: 86.23.17.87

Document e-signed by Martin Polhill (martinpolhill@netscape.net)

Signature Date: 2020-12-23 - 6:12:29 PM GMT - Time Source: server- IP address: 86.23.17.87

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Document e-signed by Andrew Nash (andy@andynashac.com)

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Agreement completed.

2020-12-23 - 6:48:10 PM GMT