## **REVISION LIMITED** (A company limited by guarantee) ## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023** **Company number: 02789040** ## **REVISION LIMITED** **For the year ended 31st December 2023** ## **CONTENTS** |**Section**|**Page**| |---|---| |Company Information|1| |Report of the Trustees|2 - 6| |Report of the Accountants|7| |Statement of Financial Activities|8| |Statement of Financial Position|9 - 10| |Notes to the Accounts|11 - 14| ## **REVISION LIMITED COMPANY INFORMATION For the year ended 31st December 2023** |TRUSTEES|S Adams| |---|---| ||J Brooks| ||A Stephenson| |COMPANY SECRETARY|K Whiting| |REGISTERED OFFICE|97 Brondesbury Road| ||London| ||NW6 6RY| |REGISTERED NUMBER|02789040 (England and Wales)| |ACCOUNTANTS|James Reeves & Company Limited| ||Chartered Certified Accountants| ||11 Church Crescent| ||London| ||N3 1BE| 1 **REVISION LIMITED** ## **REPORT OF THE TRUSTEES** **For the year ended 31[st] December 2023** The Trustees present their report and financial statements for the year ended 31[st] December 2022. ## **Structure, Governance and Management** Name of the charity ReVision Limited Registered number 2789040 (England and Wales) Registered office 97 Brondesbury Road London NW6 6RY ## **Trustees** Trustees who served for all or part of 2023 and up to the date of signing these accounts Audrey Stephenson Co-opted 1 November 2021 Elected 2[nd] March 2022 Shelley Adams Co-opted 21 February 2022 Elected 2[nd] March 2022 Justine Brooks Co-opted 7[th] December 2022 Elected 29[th] March 2023 Trustees are proposed by the Management Committee at the Annual General Meeting (AGM) and elected by the membership. Trustees are either ReVision graduates with an intimate knowledge of the running of the organisation or are drawn from the wider community for specialist knowledge they possess in fields such as finance, marketing, legal issues etc. ## **Statement of Trustees’ Responsibilities** The law 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 for that period. In preparing those financial statements, the Trustees are required to: - select suitable accounting policies and the apply them consistently; - make judgment and estimates that are reasonable and prudent; - state whether applicable Accounting Standards and Statements of Recommended Practice have been followed, subject to any departures disclosed and explained in the accounts; and - prepare the financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees have overall responsibility for ensuring that the charity has appropriate systems of control, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any given time the financial position of the charity and to enable them to ensure that the financial statements comply with relevant regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for prevention of fraud and other irregularities. 2 **REVISION LIMITED** ## **REPORT OF THE TRUSTEES (continued)** **For the year ended 31[st] December 2023** ## **Risk Management** A risk register is regularly reviewed by the Trustees. The register outlines a number of potential risks to the organisation in relation to their strategic impact and analyses them by their potential impact and likelihood of occurrence, lays out preparation and mitigation plans and highlights current actions which need to be taken. Matters considered include keeping up student numbers, staff retention, accreditation matters, recruitment and succession planning and future costs of premises etc as well as financial and legal compliance issues. These have all been the subject of detailed discussion at Trustee meetings as well as being recorded on the risk register. ## **Objectives and Activities (principal activity)** The objectives of the charity as specified in the Articles and Memorandum are to promote the preservation and protection of mental health, to advance education in mental health and related subjects and to relieve persons suffering from psychological, emotional or spiritual illness, dis-ease or distress. This will be achieved in particular by providing and assisting in the provision of workshops, classes, seminars, training, groups and conferences for counsellors and psychotherapists and for the general public; by providing, and assisting in the provision of, counselling and psychotherapy for those suffering illness or distress, their families and those who may care for them, and by providing support and assistance to those engaged in the helping professions (including counsellors and psychotherapists) ReVision is an Educational Charity and the principal activity is delivering a high-quality training in Integrative Transpersonal Counselling (BACP and UKCP Accredited) and Psychotherapy (UKCP Accredited). We also offer post-graduate courses in Clinical Supervision, Couple Counselling, Group Facilitation and a variety of short courses and workshops providing Continuous Professional Development opportunities for our own graduates and other suitably qualified practitioners. ## **Public Benefit** ReVision has continued to provide for public benefit through its educational and personal and professional development programme, including the bursary scheme for individuals who would not otherwise be able to access this opportunity. ReVision also provides a low-cost counselling service which is open to all members of the local and wider community to improve mental health and well-being. This service has become more and more necessary with the difficulties experienced in funding by other organisations in the mental health field leaving gaps in provision and the service has been expanding slowly over the last few years. ## **Status** The Charity is constituted as a non-profit educational company no. 02789040 and a charity no. 1068739 and is governed by the Memorandum of Association and Constitution as amended in January 2017. 3 **REVISION LIMITED** ## **REPORT OF THE TRUSTEES (continued)** ## **For the year ended 31[st] December 2023** ## **Mission statement** ReVision aims to change people’s quality of life – to catalyse psychological, social and spiritual transformation. We accomplish this through combining clinical excellence and soulful care in our counselling and psychotherapy training, public courses and affordable counselling. We aim to provide greater accessibility to counselling and psychotherapy by embracing difference and challenging oppression both within the ReVision community and in our relations with the public. ## **Membership** There are six categories of members: - a) Trainers and Elders who will have full voting rights; - b) Employed staff, for the duration of their employment, who will have full voting rights; - c) Subscribing Graduate Members who will have full voting rights; - d) Trustees not otherwise members through (c) above, who will have full voting rights for the duration of their term of office; - e) Students of ReVision Ltd, who will have the right to attend general meetings, the Annual Community Meeting and the Annual General Meeting and will not have any voting rights; and - f) Honorary Members, (and Graduates who are not subscribing Graduate Members), who will have the right to attend general meetings, the Annual Community Meeting and the Annual General Meeting and will not have any voting rights. ## **Volunteers** The organisation does not currently make use of volunteers. ## **Achievements and Performance** After a period of recruitment we were delighted to welcome Cathy Lasher to the ReVision community as Training Director in September 2023. During the autumn 2023 Cathy had many meetings with ReVision team members and students and began to formulate strategic priorities for the year. As part of this she has been continuing the ongoing work of updating and diversifying ReVision’s reading lists and curriculum, to which so many members of the training team have already usefully contributed, to ensure that ReVision is actively antioppressive, both as an organisation and also in respect of the training of our students. 4 **REVISION LIMITED** ## **REPORT OF THE TRUSTEES (continued)** ## **For the year ended 31[st] December 2023** In the absence of a Training Director for the majority of 2023 we consciously kept training and curriculum changes to a minimum. In the autumn we again ran one of our post-graduate programmes, ReVision Supervision Training with great interest and 20 participants beginning in November and there are a number of students from previous cohorts who are progressing through the second Diploma year. The ReVision Community is a core part of ReVision, which is growing in number and depth as we learn to listen and bear with each other. There have been some healthy debates over the last year, not always comfortable, but a sign of a community who are beginning to hold and work with differing perspectives. The Community Forum met four times, offering the opportunity for students, staff, trustees, admin, graduate, LCCS reps time to meet and talk. Workshops over the last year have included Death Cafes and the monthly Black Lives Matter group. A Community Peace Vigil was offered to bring people together and hold vigil for the world’s troubled places. In 2022-23 we have continued to uphold our mission of providing in-house accessible and affordable counselling to individuals in need. This has been in tandem with the continued provision of online counselling. Throughout this year we had 12 counsellors working, with a minimum of two to three clients each. ## **Financial Review** The investment in the organisation which began in 2022 continued in 2023, with the increased training team fees and staff salaries and greater organisational support to meet the needs of the larger training cohorts. In the absence of a Training Director in 2022-23, we consciously kept training and curriculum changes to a minimum during this academic year, including delaying running our post-graduate courses which can bring in significant income, with our Supervision Course only beginning in autumn 2023. In addition we did not have the resources to bring back and increase Income from our internal consulting room hire. The result is that for 2023 we are reporting a deficit of £70,353. Since the induction of the new Training Director a primary focus of the Directors and Trustees has been building up the additional streams of income, focusing on CPD activity in order to begin to improve the reserves position. Despite this work beginning in 2023 the results are being seen in 2024 and so have not impacted this financial period. ## **Reserves and Investment Policy** The reserves policy was fully reviewed in early 2018 by the Trustees when it was agreed that the reserve should be adequate to fully cover all costs and commitments should unforeseen circumstances mean that organisational closure would be the most logical step for ReVision. That sum has been assessed as between £70,000 and £75,000. This figure was confirmed again in 2020 as being appropriate. The reserves have now been reduced to £29,973 and the Trustees and Directors are monitoring the financial position regularly to work towards increasing this. There is a strong commitment to maintaining the infrastructure that supports the high quality delivery of training and counselling services, benefiting the therapeutic space across the UK. Expenditure has been reviewed to ensure we are working as efficiently as possible, including freezing fee and salary rates and reviewing recruitment needs. There are also a number of new training offers in place to begin in 2024-25 which will introduce new income streams. 5 REVISION LIMITED REPORT OF THE TRUSTEES (contlnued) For ¢b¢ ye•r ended 3111 D¢¢ember 2023 Approved on behalf of the Trustees by: Shelley A Tnuiee Justine Br￿kS Trwiee /f/T..* AG.9. 2Lfv. D8t¢ ## **REVISION LIMITED Year ended 31st December 2023** ## **ACCOUNTANTS' REPORT TO THE MEMBERS ON THE UNAUDITED FINANCIAL STATEMENTS OF REVISION LIMITED** In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company which comprise the statement of financial activities, the statement of financial position and the related notes from the accounting records and information and explanations you have given to us. This report is made to the company's Committee Members who are the directors of ReVision Limited for the purpose of company law and who also act as Trustees for the charitable activities of ReVision Limited and are responsible for the preparation of financial statements. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's members that we have done so and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members for our work or for this report. We have carried out this engagement in accordance with guidance issued by the Association of Chartered Certified Accountants and have complied with the ethical guidance laid down by the Association relating to members undertaking the compilation of financial statements. You have acknowledged on statement of financial position for the year ended 31 December 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that an audit is not required for this period (under s43(2) of the Charities Act 1993, as amended by s28 of the Charities Act 2006) and we have not therefore been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and consequently no opinion is given as to whether the accounts present and true and fair view and the report is limited to those matters set out in the statement below. In the course of our examination, no matter has come to our attention: 1. which gives us reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with s41 Charities Act 1993, and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act have not been met; or 2. to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. **James Reeves & Company** Chartered Certified Accountants 11 Church Crescent London N3 1BE Dated: 18 September 2024 7 ## **REVISION LIMITED STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31st December 2023** |**Note**
**Incoming resources**
_Incoming resources from charitable activities_
Training
Counselling service
Community and membership
**Total incoming resources**
3
**Resources expended**
_Charitable activities_
Training
Counselling service
Community and membership
Governance
**Total resources expended**
6
**Net incoming/(outgoing) resources**
Total funds brought forward
**Total funds carried forward**|**Total**
**2023**
**£**
482,698
10,176
21,535
514,409
536,210
18,674
24,563
5,315
584,762
(70,353)
100,326
29,973|**Total**
**2022**
**£**
479,971
12,808
7,790
500,569
522,877
16,396
24,176
6,339
569,788
(69,219)
169,545
100,326| |---|---|---| 8 ## **REVISION LIMITED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023** |**Notes**
**Fixed assets**
Tangible fixed assets
11
**Current assets**
Debtors
12
Cash at bank and in hand
**Creditors**
Amount falling due within one year
13
Net current assets/(liabilities)
**Total assets less current liabilities**
**Funds**
Unrestricted
Designated|**2023**
**£**
159,896
213,280
373,176
(349,081)|**2023**
**£**
5,878
24,095
29,973
29,973
-
29,973|**2022**
**£**
147,910
267,179
415,089
(321,961)|**2022**
**£**
7,198
93,128
100,326
100,326
-
100,326| |---|---|---|---|---| 9 REVISION LIMITED BALANCE SHEET (tolltlDied> Dlrectorj, ststements requlred by Sectlooj 475(2) Ind (3) for ¢ht y•ar *ad•d 31 December 2023 In approving thes¢ financi￿ statements u Dire¢torn (and Thistees) of th¢ ompany w¢ hereby ¢onfirm: (a) that for the period ststed above the ¢ompony w&s entitled to the ¢x¢mption ￿lferr￿ by Se¢tion 477 of the Ccrnpanies Act 2006. (b) that no nLrtice has been deposited at the re8iStered office of the comwry pursuant to Se¢tion 476 r4uestin8 that In audit bts ¢ondu¥Xed forth¢ year ¢thd 31 December 2023 (c) we athiowled8e our rtspon8ibi1lti￿ for. (l) enAwin8 th&t the kThJpany keeps a¢Mmtin8 records whl¢h ¢omply with ￿lIOn 386, and (2) weparin8 fina￿111 ststem¢nts whieh give a true WMI fair view of the stth of affairs of th¢ ¢ompany ￿ at th¢ end of the financial period And of its surplus for th¢ iod then ended in accordance with th¢ requirellmls of Section 393 •nd whlch heThvise Comply with the provisions ofthe CompAnies Act 2006 relatin8 to finuKial s¢at¢ments, so far ￿ applicable to the cixnplny. These fin4D¢1￿ statements ve prepard In ALY0rdon￿ with th• 5P￿1•1 provisionj of Port 15 of th¢ Companies Act 2006 and Financial R¢portin8 Standard 102, And in AcC￿dance with the Statement of Reeommended Pra¢tk¢ (SORP) 2005 for A￿)UntIng Rep)rtin8 by Charities. The fina￿1￿ *atements w¢r¢ ¥PrOv￿ and sI￿d on its behalf by the Tn￿ u follows: Shelleyl* h>ftHS Trugtee rrxft¢e 4..a.l.f...12d)2F Rezlstrndon number 2789040 io ## **REVISION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023** 1. **Limited Liability** - Revision Ltd is a company limited by guarantee. The Memorandum of the Association restricts the liability of members on winding up to £10. In the case of winding up none of the accumulated fund is distributed to members but shall be given or transferred to some other charitable institution having similar objectives. ## 2. **Accounting Policies** The financial statements have been prepared under the historical costs convention and in accordance with applicable accounting standards and comply with Charities SORP. - (a) Tangible fixed assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows: Furniture, Fixtures & Fittings 25% on a reducing balance basis Computer & Equipments 25% on a reducing balance basis - (b) Incoming resources Income is accounted for on an accruals basis. Its recognised in the statement of financial activities when entitlement has passed to the charity and the amount is measurable. Any incoming resources received that relate to future periods are deferred on the balance sheet. - (c) Resources expended Resources expended are accounted for on an accruals basis. Expenditure is allocated to activity categories based on the amount attributed to the activity in the year. - (d) Allocation of costs Charitable activity costs comprises those costs that contribute directly to an activity and are allocated to the relevant activity. Support costs comprise those costs that are necessary to deliver an activity but in themselves do not produce or deliver an activity. Support costs are allocated to activities based on the direct salary costs of the activity compared with total activity salary costs. ## (e) Funds Restricted funds are funds received for specific conditions set by donors as to how they may be used. The charity did not received any restricted funds during the year. General funds are those funds made available for the charity's general objects. All funds received during the year were general funds. 11 ## **REVISION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023** |3.
**Incoming resources from charitable activities**
Training, workshop & publication
Counselling services
Community, membership & events
Donations and other
4.
**Total resources**
**Training**
**Counselling**
**expended**
**services**
**£**
**£**
Staff costs
91,624
1,945
Revision training
325,007
13,645
Premises costs
35,628
1,159
& events
5,092
107
Insurance
3,464
113
Depreciation
1,838
39
Administration
15,457
433
**Total**
**478,110**
**17,441**
58,100
1,233
**Total**
**536,210**
**18,674**
5.
**Support costs**
**Training**
**£**
Staff salaries
39,267
Premises
14,107
Insurance
1,042
Administration
3,684
**Total**
**58,100**
6.
**Analysis of total resources expended**
Training
Counselling services
Community and membership
Governance
Marketing, PR, subs
**Allocation of support**
**costs (note 5)**|**Training**
**£**
409,147
-
72,540
1,011
**482,698**
**Community &**
**membership**
**£**
4,116
15,079
1,601
227
156
82
692
**21,953**
2,610
**24,563**
**Counselling**
**service**
**£**
834
299
22
78
**1,233**
**Activities**
**undertaken**
**directly**
**£**
476,272
17,402
21,871
4,909
**520,454**|**Counselling**
**service**
**£**
-
10,176
-
-
**10,176**
**Governance**
**£**
638
-
1,092
-
460
-
2,719
**4,909**
406
**5,315**
**Community &**
**membership**
**£**
1,764
634
47
165
**2,610**
**Support**
**costs**
**£**
58,100
1,233
2,610
406
**62,349**|**Community &**
**membership**
**£**
-
-
19,902
1,633
**21,535**
**Support**
**costs**
**£**
42,139
-
15,138
-
1,118
-
3,954
**62,349**
(62,349)
**-**
**Governance**
**£**
274
98
7
27
**406**
**Depreciation**
**£**
1,838
39
82
-
**1,959**|**Total**
**2023**
**£**
**409,147**
**10,176**
**92,442**
**2,644**
**514,409**
**Total**
**2023**
**£**
**140,462**
**353,731**
**54,618**
**5,426**
**5,311**
**1,959**
**23,255**
**584,762**
**-**
**584,762**
**Total**
**2023**
**£**
**42,139**
**15,138**
**1,118**
**3,954**
**62,349**
**Total**
**2023**
**£**
**536,210**
**18,674**
**24,563**
**5,315**
**584,762**|Total
2022
**£**
479,971
12,808
6,540
1,250
500,569
Total
2022
£
133,476
288,542
82,832
5,148
4,423
2,400
52,967
569,788
Total
2022
**£**
33,197
18,840
735
10,290
63,062
Total
**2022**
**£**
522,877
16,396
24,176
6,339
569,788| |---|---|---|---|---|---| 12 ## **REVISION LIMITED** **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023** ## 7. **Total resources expended** |This is stated after charging:
Depreciation
Accountants fee
8.
**Employee information**
Staff salaries
Social security costs
Pension
Freelance staff
Average number of employees during the year:
Charitable activities|**2023**
**£**
1,959
2,040
**2023**
**£**
121,400
4,322
3,372
11,368
140,462
**2023**
6|2022
**£**
2,400
2,040
2022
**£**
118,168
4,472
3,546
7,290
133,476
2022
6| |---|---|---| ## 9. **Taxation** Due to the organisation's charitable status, no corporation tax arose on the incoming resources less resources expended for the year ended 31st December 2023; (2022: nil). ## 10. **Trustees** During the period S Adams was reimbursed £320 for expenses incurred in carrying out the organisation's activities (2022: S Adams - £147). 13 ## **REVISION LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2023** |11.
**Tangible fixed assets**
**Cost**
1 January 2023
Additions
31 December 2023
**Depreciation**
1 January 2023
Charge for the year
31 December 2023
**Net book value**
31 December 2023
31 December 2022
12.
**Debtors**
Trade debtors
Prepayments
Other debtors
13.
**Creditors - amounts falling due within one year**
Trade creditors
Deferred income
Fees received in advance
Other taxes and social security
Pensions
Accruals & other creditors
14.
**Analysis of net assets**
Net current assets
Fixed assets
General funds
15.
**Analysis of funds**
**Unrestricted**
**£**
Opening balance
100,326
Net incoming/(outgoing resources)
(70,353)
Closing balance
29,973|**Designated**
**£**
-
-
-|**Total**
**£**
34,830
639
35,469
27,632
1,959
29,591
5,878
7,198
**2023**
**£**
132,367
21,404
6,125
159,896
**2023**
**£**
13,708
310,612
19,435
2,640
646
2,040
349,081
**2023**
**£**
24,095
5,878
29,973
**2023**
**£**
100,326
(70,353)
29,973|2022
**£**
122,233
19,552
6,125
147,910
**2022**
**£**
8,988
285,462
11,841
2,059
691
12,920
321,961
2022
**£**
93,128
7,198
100,326
**2022**
**£**
169,545
(69,219)
100,326| |---|---|---|---| ## 16. **Capital commitments** At 31st December 2023 there were no capital commitments (2022 - nil). 14