Charity number: 1094843
THE REVIVAL CHURCH (TRC)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
THE REVIVAL CHURCH (TRC)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 21 |
THE REVIVAL CHURCH (TRC)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
| Trustees | Elena Ramos, Pastor |
|---|---|
| Ruth Florence de Leon, Trustee | |
| Leo Galinato, Treasurer | |
| Dipesh J M Shah, Trustee | |
| Althea Timoney, Secretary | |
| Charity registered number 1094843 Principal office 111 Leamington Crescent South Harrow Middlesex HA2 9HJ Accountants GMBC LLP Chartered Tax Advisers and Accountants Marine House 151 Western Road Haywards Heath West Sussex RH16 3LH Bankers NatWest Bank 298 Elgin Avenue London W9 1WT Solicitors Forman Welch & Bellamys 23 London Road Twickenham TW1 3SX Advisers Mr A Ramos Associate Pastor |
Page 1
THE REVIVAL CHURCH (TRC)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report together with the financial statements of the The Revival Church (TRC) for the 1 April 2022 to 31 March 2023.
Objectives and activities
a. Policies and objectives
The main objectives for the year continue to be the advancement of the Christian religion and education in the United Kingdom and in such other parts of the world as the trustees may from time to time think fit. In addition, the Charity aims to provide support and assistance to persons in conditions of need or hardship or who are aged or sick, in accordance with its objectives.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
We continue to encourage more participation of every leader of the different ministries through leading prayers, doing exhortations during the 21 days of fasting and prayer at the beginning of New Year 2023, and teaching/sharing the Word of God during transmissions.
We continue to engage more on praying for the Pastoral care needs of the different chapters, people coming to know Jesus as their Lord and Saviour, the government/royal family, the whole of the United Kingdom, and for nations and national leaders during this critical time.
The contribution of volunteers is invaluable and creates the majority of the workforce, as they continually contact and encourage members to attend online transmissions and Zoom meetings.
Achievements and performance
a. Review of activities
In the beginning of the year, the leadership decided to continue with the mission statement as the goal: “To develop Authentic, Relevant, Christian Community, where people live in relationship with God, encounter His life, love and power, flourish, and share that life with others.”
The initiatives taken last year are still continuing as they have proven to be bearing fruit which are: more participation in each transmission not only of the leaders but members as well even from chapters outside the United Kingdom.
The church had continued to conduct the following transmissions every week: Mondays – leaders (from different chapters) meeting Tuesdays – Zoom Bible Study and Prayer Time Thursdays – Zoom Worship Team meeting and rehearsals Fridays – Zoom Transmission focussed on Intercession and Prayer Sundays – Online Sunday Service Live Transmission only on the last Sunday of every month
We continue to believe that faith in God, transmission discussions and teaching/instructions from the Bible made the members become resilient, helped them to withstand stress, adapt to change, and thrive in a crisis. And also, the volunteers have continued to be very willing to help.
Page 2
THE REVIVAL CHURCH (TRC)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Achievements and performance (continued)
We believe in the power of connecting with people and building a loving community even in difficult and testing times. The continuous meeting together, both online during the week and in the building during Sunday services except for the last Sunday of every month, encouraged both the leaders and the members to be more involved in the discussions of every lesson assigned to them. This gave the chance for us to support and encourage one another as we walk with Jesus.
However, with several members either got married or changed addresses, the number of attendance has been reduced. Hence, the decrease in the giving of tithes and offerings.
We have the Main Church in London and a satellite church in Basingstoke, three satellite churches in Europe (Lund, Sweden; Lausanne, Switzerland and Floro, Norway) and two satellite churches (the second is the newly opened The Revival Church Pangasinan) in the Philippines.
The environmental catastrophe and unusual happenings in Great Britain, in Europe, and all around the world, the wars in various places and the number of casualties as well as severe sufferings of people around us, the increasing disrespect to authority figues, and the evident increase of wickedness in our society, truly are a challenge for us to pray and do the will of God while there is still time. We need to work hard for the Word of God to be preached because signs are happening and pointing to Christ’s second coming very soon. We strongly believe hope and healing can be received by anyone who finds knowledge of the truth of God’s Word. We thank God for the doors that are opening for the opportunity to do His work. The board of Trustees have decided to continue to carry out the outreaches and mission work, and the equipping of leaders in the Main Church as well as in the Satellite Churches. We work while it is still day for the night comes when no one will be able to work. We strongly acknowledge the value of one soul to God!
There are two full time employed workers and one part time this year. We had 15 UK volunteers during the financial period. There are no serious incidents that need to be brought to the attention of the Charity Commission.
In conclusion, the Board of Trustees and leaders would like to thank everyone for their prayers, support, hard work and encouragement during the year, as we all endeavour to continue in the vision and direction that God has for us
b. Investment policy and performance
The Charity has the policy of keeping any surplus liquid funds in short term deposits which can be accessed readily should the need arise.
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THE REVIVAL CHURCH (TRC)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Financial review
a. 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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Charity aims to build up reserves of equivalent to two years' net income for the advancement of its objectives. The reserves policy will be reviewed on an annual basis.
Structure, governance and management
a. Constitution
The Revival Church (TRC) is a registered charity, number 1094843, and is constituted under a Trust deed dated 6 February 2002.
b. Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Organisational structure and decision-making policies
The board of Trustees meets regularly (quarterly to twice yearly) and is the decision-making and governing body of the Charity. Consultation, proposals, decisions and planning must come from the board and the final implementation is done by board members and the different ministries. Proposals may come from the general officers, in which case, these proposals will be submitted to the board of Trustees for planning and approval. The board of Trustees will give the plans and decisions to the general officers for implementation. The results of the implementation will be submitted by the general officers back to the board for evaluation.
A regular meeting of the board of Trustees is very important. The chair person gives the agenda and the board secretary must see to it that the agenda is given out prior to each meeting.
d. Policies adopted for the induction and training of Trustees
There are five Trustees namely: Ms Althea Timoney, Mr Dipesh Jose Mari Shah, Miss Ruth de Leon, Mr Leo Galinato and Mrs Elena Ramos.
New Trustees are briefed on their legal obligations under charity law, the content of the Responsibility of Charity Trustess, the decision making process and recent financial performance of the Charity.
Page 4
THE REVIVAL CHURCH (TRC)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Structure, governance and management (continued)
e. 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. In addition, those responsible for the youth ministry are CRB checked, as the Trust continues to operate a Child Protection Policy. There is no more children ministry as families with children have moved to new addresses or have joined other churches with bigger children ministry.
Plans for future periods
The Trustees have had regard to the guidance issued by the Charity Commission on public benefit. Therefore, our future plans will include not only church growth but also searching new ways of reaching out into the local community through social media, organising feeding programmes and food banks, practical evangelism and prayer walks every Wednesday around London area.
Indeed, we strongly believe that there has never been such a time as now when the church is being given more opportunities to be meeting the needs for practical help and hope of the Gospel.
Declaration
There are no serious incidents that need to be brought to the attention of the Charity Commission.
In conclusion, the Board of Trustees and leaders would like to thank everyone for their prayers, support, hard work and encouragement during the year, as we all endeavour to continue in the vision and direction that God has given us.
Members' liability
The Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.
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THE REVIVAL CHURCH (TRCI INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023 Independent examiner's rgport to the Trustees of The Revival Church ITRCI I'the charit) I report lo the charity Trustees on my examination ol the accounts ol the charity lor the year ended 31 March 2023. Responsibilities and basis of report As the TrLJSte8s ol the charily you are responsible lor the prgparalion ol the a¢¢ounls in accordan with the requirements ol the Charities Act 2011 I'lhe 2011 Acl'l- I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carying out my èxamination I have followed ihe applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner'$ statement Your attention is drawn lo the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities." Slalemenl of Aecommended Practice applicable to charities preparing their accounts in accordance with the Financial Fieporting Standard applicable in the UK and Flepublie of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities= Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has been withdrawn. l understand that this has been done in order lor the accounts lo provide a true and fair view in accordance with the Generally Accepted Accounting Practi effective lor reporting periods beginning on or after 1 January 2015. I have completed my examination. l Confirm that no matters have come lo my attention in connection with the exarninalion giving me cause lo believe that in any material respect.. accounting records were not kept in respect ol the charity as required by section 130 01 the 2011 Act,. or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Fleportsl Flegulalions 2008 other than any requirement that the accounts give a 'lrue and lair, view which is not a matter considered as part ol an independent Èxamination. I have no concerns and havè come across no other mallers in connection with the examination lo which allenlion should be drawn in this report in order lo enable a proper understanding ol the accounts lo be reached. This report is made solely lo the charity's Trustees. as a body, in accordance wilh Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate to the charity's Trustees those mallers l am required lo stale lo them in an Independent examiner's report and lor no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility lo anyone other than the charity and the charills Trustees as a body, lor my work or lor this report. Signed.. Dated.. IS 2022 Tina Pearce GMBC LLP Chartered Tax Advisers and Accounlanls Marine House 151 Western Road Haywards Heath Wesl Sussex RH16 3LH Page 7
THE REVIVAL CHURCH (TRC)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2023 £ - - - 188 188 (188) 750 (188) 562 |
Unrestricted funds 2023 £ 90,213 331 90,544 90,000 90,000 544 310,707 544 311,251 |
Total funds 2023 £ 90,213 331 90,544 90,188 90,188 356 311,457 356 311,813 |
Total funds 2022 £ 93,058 8 |
|---|---|---|---|---|
| 93,066 | ||||
| 79,475 | ||||
| 79,475 | ||||
| 13,591 | ||||
| 297,866 13,591 |
||||
| 311,457 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 21 form part of these financial statements.
Page 8
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Flxed assets | |||||
| Tangible assets | 10 | 2'879 | 3,839 | ||
| 2,879 | 3,839 | ||||
| Current assets | |||||
| Debtors | 11 | 15,514 | 7 7, 704 | ||
| Cash at bank and in hand | 296,675 | 292,579 | |||
| 312,189 | 309,683 | ||||
| Creditors: amounts falling due within one | |||||
| year | 12 | (3,256) | (2,065) | ||
| Net current assets | 308,933 | 307,618 | |||
| Total assets less current liabilities | 311,812 | 311,457 | |||
| Total net assets | 311,812 | 31 I .457 | |||
| Charity funds | |||||
| F}estricted f unds | 562 | 750 | |||
| Unrestricted funds | 311,250 | 310,707 | |||
| Total funds | 31 1,812 | 311,457 |
THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. General information
The Charity is registered with the Charity Commission for England and Wales number 1094843. The Charity's principal office address is 111 Leamington Crescent, South Harrow, Middlesex, HA2 9HJ.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Revival Church (TRC) 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.
2.2 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 10
THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 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.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
- Fixtures and fittings 25% reducing balance
2.6 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.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.8 Liabilities and provisions
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.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.9 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 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.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
3. Income from donations and legacies
| Donations London donations London offerings London mission offering Basingstoke donations Sweden mission support Gift aid recovered Tithes London tithes Basingstoke tithes Norway tithes Sweden tithes Subtotal detailed disclosure Total 2023 Total 2022 |
Restricted funds 2023 Unrestricted funds 2023 £ £ - 55,899 - 374 - 10 - 7,395 - 670 - 15,556 - 5,866 - - - 4,052 - 391 - 90,213 - 90,213 1,000 92,058 |
Total funds 2023 £ 55,899 374 10 7,395 670 15,556 5,866 - 4,052 391 90,213 90,213 93,058 |
Total funds 2022 £ 57,015 60 - 9,789 - 16,777 3,152 2,280 3,985 - |
|---|---|---|---|
| 93,058 | |||
| 93,058 | |||
4. Investment income
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| Bank interest | 331 | 331 | 8 |
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THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
5. Analysis of expenditure on charitable activities
Summary by fund type
| Restricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | Total | Total | |
| 2023 | 2023 | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Advancement of the Christian religion | 188 | 90,000 | 90,188 | 79,475 |
6. Analysis of expenditure by activities
| Advancement of the Christian religion Total 2022 |
Activities undertaken directly 2023 £ 74,227 64,035 |
Support costs 2023 £ 15,961 15,441 |
Total funds 2023 £ 90,188 79,476 |
Total funds 2022 £ 79,476 |
|---|---|---|---|---|
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THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Hall rental Food expenses Travel and accommodation European satellite expenses Basingstoke expenses Philippines mission costs Evangelical events Sundry equipment Teaching materials Training and course fees Benevolent and assistance gifts |
Advanceme nt of the Christian religion 2023 £ 33,800 6,683 406 2,375 7,104 10,217 8,226 1,066 139 341 1,145 2,725 74,227 |
Total funds 2023 £ 33,800 6,683 406 2,375 7,104 10,217 8,226 1,066 139 341 1,145 2,725 74,227 |
Total funds 2022 £ 33,800 3,591 140 925 1,831 15,559 3,419 1,247 91 203 470 2,759 |
|---|---|---|---|
| 64,035 |
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THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Depreciation Miscellaneous expenses Printing and stationery Telephone Computer costs Postage Insurance Publicity/IT Accountancy |
Advanceme nt of the Christian religion 2023 £ 9,620 960 760 136 1,896 496 7 728 344 1,014 15,961 |
Total funds 2023 £ 9,620 960 760 136 1,896 496 7 728 344 1,014 15,961 |
Total funds 2022 £ 9,620 1,280 605 103 2,062 121 14 645 169 822 |
|---|---|---|---|
| 15,441 |
7. Independent examiner's remuneration
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charity's independent examiner for the independent | ||
| examination of the charity's annual accounts | 504 | 354 |
| Fees payable to the charity's independent examiner in respect of: | ||
| All other services not included above | 510 | 468 |
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THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
8. Staff costs
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 43,420 | 43,420 |
The average number of persons employed by the charity during the year was as follows:
| Pastors Administration and ministry |
2023 No. 2 1 3 |
2022 No. 2 1 |
|---|---|---|
| 3 |
No employee received remuneration amounting to more than £60,000 in either year.
9. Trustees' remuneration and expenses
During the year 2 Trustees received remuneration amounting to £30,420 (2022 2 Trustees - £30,420). Elena Ramos was paid an annual salary of £20,800 (2022 - £20,800) for her services as the pastor. Dipesh J M Shah was paid an annual salary of £9,620 (2022 - £9,620) for his administration role and is also a member of the pastoral team. The annual salaries are agreed by the Board of Trustees.
During the year ended 31 March 2023 no expenses were reimbursed or paid directly to the Trustees.
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THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 10. Tangible fixed assets Cost or valuation At 1 April 2022 At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 11. Debtors Due within one year Other debtors Tax recoverable |
2023 £ - 15,514 15,514 |
Fixtures and fittings £ 26,652 |
|---|---|---|
| 26,652 | ||
| 22,813 960 |
||
| 23,773 | ||
| 2,879 | ||
| 3,839 | ||
| 2022 £ 327 16,777 17,104 |
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THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
12. Creditors: Amounts falling due within one year
| Other taxation and social security Other creditors Accruals and deferred income |
2023 £ 569 226 2,461 3,256 |
2022 £ - - 2,065 |
|---|---|---|
| 2,065 |
13. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds Capital fund General funds General Fund Total Unrestricted funds Restricted funds Apple MacBook Air Total of funds |
Balance at 1 April 2022 £ 200 310,507 310,707 750 311,457 |
Income £ - 90,543 90,543 - 90,543 |
Expenditure £ - (90,000) (90,000) (188) (90,188) |
Balance at 31 March 2023 £ 200 |
|---|---|---|---|---|
| 311,050 | ||||
| 311,250 | ||||
| 562 | ||||
| 311,812 |
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THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
13. Statement of funds (continued)
| Statement of funds - prior year Unrestricted funds Designated funds Capital fund General funds General Fund Total Unrestricted funds Restricted funds Apple MacBook Air Total of funds |
Balance at 1 April 2021 £ 200 297,666 297,866 - 297,866 |
Income £ - 92,066 92,066 1,000 93,066 |
Expenditure £ - (79,225) (79,225) (250) (79,475) |
Balance at 31 March 2022 £ 200 |
|---|---|---|---|---|
| 310,507 | ||||
| 310,707 | ||||
| 750 | ||||
| 311,457 |
Aim and use of the restricted fund:
The Apple MacBook Air fund was set up in a prior year with a Norway tithe donation. The donation was specifically used against the purchase of an Apple MacBook Air computer. This asset has been capitalised and the charge in the year relates to depreciation.
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THE REVIVAL CHURCH (TRC)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2023 Unrestricted funds 2023 £ £ 562 2,317 - 312,189 - (3,256) 562 311,250 |
Total funds 2023 £ 2,879 312,189 (3,256) 311,812 |
|---|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2022 £ 750 - - 750 |
Unrestricted funds 2022 £ 3,089 309,683 (2,065) 310,707 |
Total funds 2022 £ 3,839 309,683 (2,065) 311,457 |
|---|---|---|---|
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