Charfty number.. 1094843 THE REVIVAL CHURCH (TRC) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE REVIVAL CHURCH (TRC) CONTENTS Page Reference and admlnlstratlve detalls of the charlty, Ils TNst8es and advlsers Trustees, report Indep8nd8nt examlner's r8POrt Statement of flnancial actlvitles Balance 8h88t Noles to the Ilnanclal stalements 10-22
THE REVIVAL CHURCH (TRC) REFERENCE AND ADTralNISTRATIVE DETAILS OF THE CHARITY, trs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 TN8tee8 Elena Ramos, Pastor Ruth Florence de Leon. Trustee Leo Galinato, Treasurer Dipesh J M Shah, Trustee Althea Timoney, Secretary Charlty reglstered number 1094843 Pr5n¢lpal office 111 Leamington Crescent South Harrow Middlesex HA2 9HJ Accountants GMBC LLP Chartered Tax Advisers and Accountanis Marine House 151 Western Road Haywards Heath West Sussex RH16 3LH Banker8 Natwest Bank 298 Elgin Avenue London W9 1WT Sollcllors Forman Wekh & Bellamys 23 London Road Twickenham TW13SX Advlsers Mr A Ramos Associate Pasior Page I
THE REVIVAL CHURCH ITRC) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trusiees present their annual report together with the financial statements of the The Revival Church (fRC) lor the 1 April 2023 to 31 March 2024. Oblectlv88 and actlvltle8 a. Pollcles and oblectlves The main obj8CtNes for th8 year continu8 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 Ihlnk 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 abjectives. In setting obieclives and planning for actiifjties, the Trustees have gwen due consideration to general guidance published by lh8 Charity Commission ralating to public benefit, including the guidance 'Public benefrt: running a charity (P82)'. b. Strategles tor achlevlng oblectlves We continue to encourage rnore participation of every leader of the dlfferent ministries through leading prayers, doing exhortalions during the 21 days of fasting and prayer al the beginning of New Year 2024, and teachintysharing the Word of God during transmissions. We Gontinue to engage more on praying for the Pastoral car8 needs of th8 different chapters, people coming to know Jesus as their Lord and Saviour, the governmenvroyal family, the whole of the United Kingdorn, 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 continualty comact and encouraoe members to attend onlin8 transmissions and Zoom meetings. Achl8vem•nt8 and perfornianc a. Revlew of actlvltles In the beginning of the year, the18adership decided to continue with the mission siatemenl as Ihe goal: 'To develop Authentic, Relevanl, Christian Community, where people live in relationship wilh God, encounter His life, love and power, flourish, and share thal life with others." The initiatives taken last year are still continuing as they have proven to be bearing fruit which are: more participatbon in each transmission noi only of th8 lead8rs but memb8rs as well 8V8n from chapters outside the United Kingdom. The church had continued to conduct the followng transmissions every week: Mondays- leaders (from different chapters) meeting Tuesdays - Zoom Bible Study and Prayer Time Thursdays - Zoom Worship Team meeting and rehearsals -wives Prayer Time Husbands Prayer Time Fridays - Zoom Transmission focussed on Intercession and Prayer Sundays - Online Sunday Seice Live Transmission only on the last Sunday of every month We continue to believe that faith in God. transmission disGussions and teachinglinstructions from the Bible made the members become resilient, helped them to vthstand 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 2024 Achlevemont8 and portomiance {conllnued) We believe in the power of connecting with people and building a loving comrnunity even in difficult and testing times. The continuous meeting together. both online during the week and in the building during Sunday services except for Ihe last Sunday of every month, encouraged both the leaders and the members to be more invofved in the discussions of every lesson assigned to them. This gave the chance for us to support and encourage one another a5 we walk with Jesus. However, with several members either got married or changed addresses, the number ol attendance has been reduced. Hence, the decrease in th8 givÉng ol tithes and offerings. We have the Main Church in London and a satellite church in Basingstoke, three satellite churches in Europe {Lund, Sweden; Lausanne. Switzertand and Floro, Norway) and two satellit8 churches Ithe second is the newly opened The Revival Church Pangasinanl in the Philippines. We have appointed a new pastor lor The RevNal Church Dela Costa, Caloocan City, Philippines who is from the province of Tarlac. He is married and therelore, a rented accommodation is being provided for hls famity. Hence. the increase ol mission's cost in the Phik'ppines. The environmental catastroph8 and unusual happenings in Great Britain, in Europe, and all around the world, the wars in various places and the number of casuatties as well as severe sufferings of people arourKJ us, the increasing disrespect to authority figues, and Ihe evident increase of thryckedness in our society, Iruty are challenge for us io pray and do Ihe 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 knowledg8 of th8 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 ontinue to carry out the outreaches and mission work, and the 8quipping of leaders in the Main Church as well as in the Satellite Churches. We work whlle it is still day for the nlght comes when no one will be able to wort(. We strongly acknowledge the value ol one soul to Godl There are two full time employed workers and one part time thls year. We had 15 UK volunteers durlng the financial period. There ar8 no serlous Incidents that need to be brought to the attenllon of the Charity Commission. In conclusion, the Board of Trust8es and leaders would like to thank everyone for Ih8ir prayers, support, hard work and encouragement during the year. as we all endeavour to continue in the vision and direction that God has lor us b. Investmeirt pollcy and perlormance The Charity has the policy of keeping any surplus liquid funds in short term deposits which can be accessed readily should the need arise. Page 3
THE REVIVAL CHURCH (TRC) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal revlew a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectaiion thal the charity has adequate resources to continue in operational 8XlStenGe for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financlal statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves pollcy The Charity aims to build up resetves of equivalent to years, net income tor the advancement of its objectives. The reserves policy will be reviewed on an annual basis. Structureg govwnance and manag8m8nl a. Constltutlon The Revival Church ITRC) is a registered charity, number 1094843, and is constituted under a Trust deed dated 6 February 2002. b. Method8 Ot appolntment or electlon of Tru81ees The management of the charity Is the responsibility of the Trustees tho are el8Cted and co-opted under the terms of the Trust deed. c. Organlsatlonal 8twctur• and declslon-maklng pollcles The board ol Trustees meets regularly (quarterly lo twice yearly) and Is the d8cislon-making and governlng body of the Charity. Consuttation, proposals, decisions and planning must come from the board and Ihe final implementation is done by board members and the different ministries. ProposaLs may come from ihe general officers, in which case, these proposals will be submitted to th8 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 implemenlation wll 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 ihe agenda and Ihe board secretary must see to it that the agenda is given out prior to each me8ting. d. Pollcl•s adopied for the Inducllon and tralnlng of Trustees There are five TNstees 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 charty law, the content of the Responsibility ol Charity Trustess, Ihe decision making proces5 and recent financial performance of the Charily. Page 4
THE REVNAL CHURCH rrRC) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Slructurel govemance and manag•m8ni (contlnued) e. Rlsk management The Trustees have assessed the rnajor risks to which the charity is exposed, in particular those related to the operations and finances of the charty, and are satisfiad that systems and procedur8s 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 operale a Child ProteGtion Policy. There is no more Ghildren ministry as families wth children have moved to new addresses or have joined other churches with bigger chiklren ministry. Plans tor future porlods The Trustees have had regard 10 the guidance issued by the Charity Commission on public benefit. So, we continue with last year's plans of not only focusing on church growth but also searching new ways ot reaching out into Ihe local community through social media, organising feeding programmes and food banks, practical evangelism and prayer walks every Wednesday around London area. We also conlinue with what we have siarted In January 2023 which ar8 the online Husbands and s8paratety th8 Wives Prayer Time every Thursday. This is a result of Ihe church's 21-day Fasting and Prayer and Is proving to be very helpful for marriages amongst tha church membersl. Declaratlon There are no serious incidents that need to be brought to the attention of the Charity Commission. In condusion, 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 Gontinu8 in the vision and direclion that God has given us. Member8, Ilablllty The Mernbers of the charity guarantee to contribute an amount not exceeding £1 to th8 assets of the charity In the event ol winding up. Page 5
THE REVNAL CHURCH (fRC) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of Truste88' re8pon8lbllltl88 The Trustees are responsible for preparing the Trustees. r8POrt and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting practi). The law applicable to charities in England & Wa18s requires the Trust88S to prepare financial statemenls for each financial year which give a true and fair view of the state of affairs ot the Gharty and of its incoming resources arKI application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and princlples of lh8 Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standards (FRS 102) havo been followed, subjeGt to any malerlal departures disGlosed and explained in Ihe financial statements., prepare the financial statements on the going GonG8rn basis unless It is inappropriate to presume thal the charty will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitys transactions and disclos8 wilh reasonabl8 accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charily (Accounts and Reports) Regulations 2008 and the provlsions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Truste8s on behalf by: and signed on thelr Elena Ram08 Pastor Page 6
THE REVIVAL CHURCH (fRC) INDEPENDEKf EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent examlner's report lo the Trustees of The Revlval Church (fRC) ('the charlly,) I report io the charity Trusiees on my examination of the accounts of the charity for the year ended 31 March 2024. Responslbllltles and bas18 of report As the Trustees of Ihe charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the 2011 Act,). I report in respect of my examination of the chartty's accounts carried out under section 145 of Ihe 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Comrnission under Section 145(5)(b) ol the 2011 Act. Indepond8nt examln8r'8 8tatem8nt Your attention is dra to the fact that the Charity has prepared the accounts In accordance wlth Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) in preference to the Accounting and R8POrting by Charitl8s.' Stat8ment of Recommended Practice issued on 1 April 2005 which Is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for Ihe accounts lo provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my exarnination. I confirm that no matters have come to my attenlion in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept In respect of Ihe charity as required by section 130 of 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 set out in the Gharities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Yru8 and fair, vtew which is not a matter considered as part of an independ8nt examination. have no concerns and have com8 across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding ol the accounts to be reached. This report is made solely to Ihe charity's Trustees, as a body, in accordance vith Part 4 01 the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters l am required to state to Ihem in an Independent examiner's report and lor no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Signed: Graham Hole Dated: 6 January 2025 GMBC LLP Chartered Tax Advisers and Accountants Marine House 151 Weslern Road Haywards Heath West Sussex RH16 3LH Page 7
THE REVNAL CHURCH (TRC) STATEMENT OF FINANCIAL ACTlVtTIES FOR TrIE YEAR ENDED 31 MARCH 2024 Restrlcted Unreslrlcted tunds funds 2024 2024 Total funds 2024 Total fvnds 2023 Note Income from: Donations and legacies Investments 85,572 1,014 85,572 1,014 90,213 331 Total Income 86,586 86,586 90.544 Expendlture on: Charitab18 activities 141 91,643 91,784 90,189 Total expendlture 141 91,643 91,784 90. 189 Net movement In funds (141) {5,057) (5,198) Reconclllation of funds: Total funds brought torward Net movement in funds 562 (141) 311,250 (5,057) 311,812 (5.198) 311,457 355 Total funds carrled forward 421 306,193 306,614 311,812 Th6 Statemeni ol financial activities includes all gains and losses recognised in the year. The notes on pages 10 to 22 form part of these financial statements. Page 8
THE REVIVAL CHURCH (fRC) BALANCE SHEEr AS AT 31 MARCH 2024 2024 2023 Note Flxed assets Tangilje assets 10 3,375 2,879 3,375 2,879 Current assels Debtors Cash at bank and in hand 11 14,320 291,877 15,574 296,675 306,197 312,189 Credltors: amounts falling due wthin one year 12 (2,957) (3,256) Net currenl assels 303,240 308,933 Total assets less current Ilabllltle8 306,615 311,812 Total n•t a8SOts 306,615 311,812 Charlly lund8 Restricted funds Unrestricted funds 13 13 421 306,194 562 31 1,250 Total fund8 306,615 311,812 The financial statements were approved and authorised for issue by the Trustees on 7 and sned on theii behalf by: Elena Ramos Pastor The notes on pages 10 to 22 form part of these financial statements. Page 9
THE REVIVAL CHURCH (TRC) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 General Inforniatlon The Charity is registered with the Charity Commission lor England and Wales number 1094843. The Charitls principal office address is 111 Leamington Crescent, South Harrow, Middlesex, HA2 9HJ. Accountlng pollcles 2.1 Basls of preparatlon of flnanclal statements The financial statements have been prepared in accordance wilh the Charities SORP (FRS 102) Accounb'ng and Reporting by Charities: Statement of Recommend8d Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019), the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financlal statement5 have been prepared to give a 'true and fair, view and have departed Irom the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SORP {FRS 102) published in Octob8r 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from l April 2005 which has slnce been withdrawn. The Revival Church ffRCI 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 ralevanl accounting policy. 2.2 Income All income Is recognised once the charity has entitlement to the income, it is probable that the incorne will be received and the amount of income receivable can be measured r61iably. Grants are included in the Statement of financlal activlties on a receivable basls. Th6 balance of income received for specific purposes but not expended during the period is shown in the relevant funds on Ihe Balance sheet. Where income is received in advance of enlitlement of receipt, ts recognition is deferred and included in creditors as delerred income. Wher8 8ntitlement 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 iaARCH 2024 Accounting policies (contlnued) 2.3 Expendlture Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount ol the obligation Gan 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 lo particular aclivities they have be8n allocated on a basis consistent with the use of the resources. Expenditure on charitable activities is incurred on direclly undertaking the activitles which further the charity's objectives, as well as any associated support costs. All expenditur8 Is inclusive of irrecoverable VAT. 2A Interesl recelvable 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 int8resl paid or payable by the institution with whom the funds are deposited. 2.5 Tanglble flxod assels and depreclatlon Tangible fixed assets costing £NIL or more are capitalised and recognised when luture economic benefits are probable and the cost or value of the assel 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 Ioss8s. All costs incurred to bring a tangible fixed ass8t Into its intended working condition should be included in the measurement of c061. Deweciation is charged so as to allocate ihe cost of tangible fixed assets less their residual value over their estimated useful lives, Depreciation is provided on the following basis.. Fixtures and fittings 250/0 reducing balance 2.6 Debtors Tiade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Ca8h 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 rnonlhs or less from the date of acquisition or opening of Ihe deposit or similar account. Page11
THE REVIVAL CHURCH (TRC) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policles (contlnued) 2.8 Llabllltles and provlslon8 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 wll be required in settlemenl, and Ihe amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it ¥MII pay lo settle the debt or the amount it has received as advanced paymants for the goods or s8rbices It must provide. PrOlSOnS are measured at the best estimate of the amounts required to settle the otAigation. Where the eflect 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 r8cognised in the Stat8m8nt of linancial activities as a financ8 cosi. 2.9 Flnanclal Insiruments The charity only has financlal assets and financlal liabllities of a kind that qualify as baslc flnancial instruments. Basic financial instruments are inilially recognised at Iransaction value and subsequently measured at their settlement value wilh the exception of bank loans which are subsequently measured at amoitised cost using the effective interest method. 2.10 Fund accounllng General lunds are unrgstricted funds which are available for use ai the discrelion ol the Trustees in furtherance of the general objectlves ol the charity and which have not been designated lor othor purposes. Designated funds compris8 unrestricted funds that have been set aside by the Trusie8s for particular purposes. The aim and usa of each designaied fund is set out in the notes lo the financial statements. Restricted funds are funds which are to be used in accordance with specrfic restrictions imposed by donors or which have been rais8d by the charity for particular purposes. The CDSts 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 stat8ments. Investment income, gains and losses are allocated to the appropriate fund. Page 12
THE REVNAL CHURCH (fRC) NOTES TO THE FINANCIAL STATElaEKrs FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlon8 and lagacles Unrestrlcted funds 2024 Total funds 2024 Total fvnds 2023 Donatlons London donations London offerings London mission olfering Basingstoke offerings Basingstoke donations Sweden mlsslon support Gift aid recovered Tlthes 50.379 234 50.379 55,899 374 10 97 10,103 97 10,103 7,395 670 15,556 14,320 14,320 Basingstoke tilhes London tithes Sweden tithes NonNay tilh8S 373 6,997 373 6,997 5,866 391 4,052 2,737 2,737 Subtotal detalled dl8c108ure 85,240 85,240 90,213 Donations Grants 333 {1) 333 (1) Sublotal 332 332 Total 2024 85,572 85,572 90,213 Total 2023 90,213 90,213 Investment Income Unrestricted tunds 2024 Total funds 2024 Total funds 2023 Bank interesl 1,014 1,014 331 Page 13
THE REVIVAL CHURCH (fRC) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expendlture on charltable actlvltle8 Summary by fund type Restrlcted Unrestrlcted funds tunds 2024 2024 Total 2024 Total 2023 Advancement of the Christian religion 141 91.643 91,784 90, 189 Analysls ol 8xpendltur• by aciivltles Actlvlties undertaken dlreclly 2024 Support Cosls 2024 Total tunds 2024 Total funds 2023 Advancement of the Chrisiian religion 76,162 15,621 91,783 90, 189 Total 2023 74,228 15,961 90, 189 Page 14
THE REVIVAL CHURCH (TRC) NOTES TO THE FINANCIAL sTATEMEPs FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expendlturo by actlvltle8 (conllnued) Anatysls of dlrect costs Advanceme nt ol the Christian rellglon 2024 Total tund8 2024 Total lunds 2023 Statf costs Hall rental Food expenses Travel and accommodatlon European satellite expenses Basingstoke 8xpenses PhiliF¥Mnes mission Costs Evangelical events Sundry equipment Teaching materials Training and course fees Benevolent and assistance gifts 34,450 8,623 1,460 2,917 2,340 10,205 9,743 1,725 486 547 1,517 2,149 34,450 8,623 1,460 2,917 33,800 407 2,375 7,104 10,217 8,226 1,066 139 341 1, 145 2, 725 10.205 9,743 1,725 547 1,517 2,149 76,162 76,162 74.228 Page 15
THE REVIVAL CHURCH (TRC) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 Anatysls 018xp8ndlture by acllvltle8 (Contlnued) Anatysls of 8UPPOrt costs Advanceme nt of the Chrlsllan rollglon 2024 Total tundg 2024 Total funds 2023 Staff costs Depreciation Miscellaneous expenses Printing and stationery Telephone Compuier costs Postage Insurance Publicity/lT Accountancy 9,805 1,125 375 211 1,840 278 31 708 174 1,074 9,805 1,125 375 211 9,620 960 760 136 1,896 496 278 31 728 174 1,074 1,014 15,621 15.621 15,961 Ind8p8nd•nt examln•r'8 r8munoratlon 2024 2023 Fees payable lo the charity's independent examiner for the indep8ndent examination of the charitys annual accounls Fees payable to the charilvs independent examiner in respect of: All other services not included above 504 570 510 Page 16
THE REVIVAL CHURCH (TRC) NOTES TO THE FINANCIAL STATEAIEKrs FOR THE YEAR ENDED 31 MARCH 2024 Staff cosi8 2024 2023 Wages and salaries 44,255 43,420 The average number of persons employed by the charity durlng the year was as follows.. 2024 No. 2023 No. Pastors Administration and ministry No employee received remuneration amounting to more than £60,000 in either year. Tru8ts05' remuneratlon and 8xp8nses During the year 2 Trustees received remuneration amounting to £31,005 (2023 2 Trustees - £30.420). Elena Ramos was paid an annual salary of £21,200 (2023 - £20,800) for her services as the pastor. Dip8sh J M Shah was paid an annual salary of £9,805 (2023 - £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 2024 no expenses were reimbursed or paid directly io the TrUees. Page 17
THE REVIVAL CHURCH (TRC) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 10. Tanglble flxed asset8 Flxtures and flttlngs Cost or valuatlon At 1 April 2023 Additions 26,652 1,621 At 31 March 2024 28.273 Depreclatlon At 1 April 2023 Charge for Ihe year 23,773 1,125 At 31 March 2024 24,898 Nel book value At 31 March 2024 3,375 At 31 March 2023 2,879 11. Debiors 2024 2023 Du? wlthln one year Tax recoverable 14,320 15,514 14,320 15,514 Page18
THE REVIVAL CHURCH (TRC) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Ciedllors: Amounts lalllng due wlthln ono year 2024 2023 Other laxation and SOGial security Other creditors Accruals and deferred income 569 226 2,461 1,134 1.074 2.957 3,256 Page 19
THE REVIVAL CHURCH (TRC) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 13. Slatement of funds Slatement of funds . current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Income Expendlture Unrestrlcted funds Designated funds Capital fund 200 200 General funds General Funds - all funds General Fund 311,050 86,587 (91,642) (1) 305,995 (1) 311,050 86,587 (91,643) 305,994 Total Unr08trl¢ted fund8 311.250 86,587 (91,643) 306,194 Restrlcted lund• Restricted Funds all lunds 562 (141) 421 Total of fund8 311,812 86,587 (91,784) 306,615 Page 20
THE REVIVAL CHURCH (TRC) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 13. Slalement of funds {contlnued) Statement ol funds - prlor year Balance at 31 March 2023 8alance al l April 2022 Incom8 Expenditure Unrnglrlcted funds Deslgnaied lunds Capital lund 200 200 General lunds General Fund 310,507 90,543 (90,OL) 311,050 Total Unr061rlcted fund6 310,707 90,543 (90,OOOJ 31 1.250 Re81tlcted funds AF4)le MacBook Air 750 (188) 562 Total ot tunds 311,457 90,543 (90, 188) 311,812 Aim and us8 ol the restricted fund: The Apple MacBook Air fund was set up in a prior year with a Norway tithe donation. The donation was specitically usad against the purchase of an Apple MacBook Air computer. This ass8t has been capitalised and the charge in the year relates to deprecialion. Page 21
THE REVIVAL CHURCH (TRC) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 14. Analysls of net a888t8 between fund8 Analys18 01 net a8set8 bethen funds - current perlod Restricted Unrestricted fund8 funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 421 2,954 306,197 {2,957) 3,375 306,197 (2,957) Toial 421 306,194 306,615 Analysls ol net assets between funds - prlor perlod Restricted Unrestrictea fvnds funds 2023 2023 Total lunds 2023 Tangible fixed assets Current assets Creditors due within one year 562 2,317 312, 189 (3.256) 2,879 312,189 (3,256) Total 582 311,250 311,812 Page 22