REGISTERED COMPANY NUMBER.. 04930T29 And Wales) REGISTERED CHARITY NUMBER: 1100573 ort of the Trus¢5 and taiements for the l Decernber 20 Fin ror Revelation Foundation Azet5 Audit S¢r¥'i¢es Limiied Rcgistered Audiiors Ashcornbc Courl Woolsack Wa Godalming, Surrcy GU7 ILQ
Revelation Foundation Contents of the Finan¢ial Statemenis ror h Year Ended l December 2020 Page Report of the Trustees 1 ¢06 Report of the Independent Auditors 7t09 Statement ot Financial Activitie5 10 Balan¢e Sheets Cash Flow Statement Notes (o the Financial Sthiemen 13 1023
Revelation Foundaii rt of the Trustees for the Y ar Ended J l December 2020 The trustees M,ho are also director5 of the charity pre5eDI their rerrf)rt %vith the financial siaiernents of the charilfv for the year ended 3 1 December 2020. The fipancial statements complv ii'iih the Charities Acl 2011, Ihe Companies Act 2006. Ihe Metnorandum and Articles of A5S0Cl&tion, 8nd Accounting and Reporting by Charities.. Siaiement ot. Recomrnended Pra¢tice applicable 10 charities preparing their accounts in acCOrd¢t wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) Ipublished October 20191. REFERENCE AND ADMINISTRATIVE DETAILS Registered Cotnpany number 04930129 (England and Wale51 Registered Charity numb¢r 1100573 Registered offit¢ Ashfields 129 Pr¢stbury Road M2cclesfield Cheshire SKIO 3DA Trustees l G Pettie J Odell P Darg- Chairman L Petti¢ L Conder A Tun - deceased A Cr8lB- resigned 21 Oaober 2020 S Jayakrishna- appointed 27 January 2021 Company Secretary l G Pettie Chief Operating Officer l G Pettie Audltors Azets Audit Services LimTted Ashcornbe Court Woolsack W8y Godalming Surrey GU7 1 LQ SolieStDrs Pearce Legal Lirnited 2 The Square West Midlands B913RB Bankers HSBC ple I VictOTia Road Surbiton. Surrey KT6 4LF
Revelatton Found orl ofihe Trustees for the Year Ended 31 Decernb STRUCTURE. GOVERiYANCE AND MANAGEMENT Governlng document The charity is Controlled by its goveming document, a deed ol-trust. and ¢onsiiiutes a limited cornpany-. lirniied by guarantee. &8 defined by the Companies Act 2006. Revelation Foundation Kvas incortM)ratd as a company limited by guarantee on 13 October 2003. It Ivas registered as a charity on 6 Novernber 2003. Recruitment and appoiiitmtnt of new trustees The trustee5: I4,ho are directors lor ihe purpose of compan). law and for the purpose of charilv law, who served durine the period of thi5 report: are set out on page l. There is a procedure for the recruitmeni and appoinEment ol. neiv Irustees: namely Ihat notninations are received in Kvrilin8 by the current trustees, i%,ho then discuss and vole upon any nominations received. New trustees are recogni5ed and aptK)inted by the currenL board in recognition ol'their contribution and value to the Charity. A turth indcpendent trustee is being soughi lor the Board. Induction and training of new tru$tees All new tru5tee5 are given, in the view of the board. su1¢1¢[ Iraining and have enough knowledge of their specific field to understand the nature ot the charity and fully ¢ornply wilh the eharity's objeciives and r¢sw)nsibiliiies. Organisa¢ional strueture The trustees are responsible for the strategic dire¢iion and policy of the charily. Day to day re5pon51bility is delegated to a leadtrship team of three, which ¢onsisis of three trustees, one of i¥hoFn is the Chief Execuiive oificer ol- Revelation TV. The founder. Howard Conder, is not a Tnjsiee, or part of the leadership ieatn. He continues to regulwly appear in programme5 On Revelation TV. Wider n¢twork Revelaiion Foundation has set up tw'o non-profit organisations, namely Re¥elaiion A550¢iaiion in Spain and Revelation TV ID¢., in the United State5. They have been es(ablished with the same purpose and function as the Revelaiion Foundation in the UK. A number of trustees of ihe Revelation Foundaiion are a150 trustees of the Revelation Associatio. Rlsk m2nagement The trustees have a risk tnanagemeni straie8) and ihe tru51ees regularl}. revieH- the risks thai the ¢harity may face. The trustees ¢on51der that the thariiy is exposed lo minimal risks. This situation is re8ularly rei'iei%'ed and existing sjstems and procedures adequately mana8e such risks. Publie ben¢fit The trusiees have h&d regard to the Charity Commission statement on publi¢ benefil. and in particular. the spe¢ifi¢ guidance on charities for the advancemeni ol. religion. Iii thi5 SpecI i%'e ivant 10 record Ihal i¥e habe seen tnan!. lives changed through the Christian message being proclaimed across the ielevision airiiaves. During ihe year. b), phone, texi and eniail. as i%'ell as by personal visits LO the studios, viei¥ers have iestilied io the btne11t ol-the messages hEai-d on the TV SEation. P¢r50nal l$liorS 10 the studio are invited to Share theET Story and spiriiual journey. If the). agree il is re¢orded i%'ith a vieiv to 5hoiving on the chznnel at a future date.
Revelation F undation ort of the Trusi for the Year nded 3 1 December 2020 OWECTIVES AND ACTIVITIES Objectlves and aims Th¢ objectives of the charity are the advaD¢ernent ol-christianily in the United Kingdorn and elSvh¢ by any rne8ns including the preaching and pro¢lamation of the Christian Gospel and ihe teaching of Christian doctrines and principles and values. The trustees consider these objectives are being lultilled Ihrough the prograrnmes thai are being made and brOadCt on Revelaiion TV. The TV station's main base is in Spain and the day to day editorial and tnanagemeni decisions are taken there by the leadership tearn, under the direction of the truSe$. The TV station also operates a small studio and otfice in wmm¢r¢ial premise5 in the London area. Staffing volunteers Revelation Foundation relies heavily on volunteers tor administration support 2nd pro8ramme presEnters and, due to Ihi5. Staff costs are loii'er than they would be oiheri%'ise. During 2020: Revelation Foundation employed ihree siafi. in the UK after a third person wa5 employed at the beginning of 2020. In addilion, there ivere live paid consultants in the UK ii,ho worked as required for the TV station. Significant activities The Charitv ComtTrission investigation into the Revelaiion Foundation continued throughoul ?020. During 2020. the Irustees sought the help of tw'o Members of Parliament and one member ol'the l.louse ol. Lords 10 bring the invesiigalion LO a Conclusion. They also appointed a Balster ii'ith a view. to seekin8 a judicial reviem, ol. the Charli Commi5510ll 5 handling ot. Ihe chariiy s investigition. In October 2020: the Charity Cotntnission published their repoii on their invtsiigation ¥%'hich conlirrned there had been no mismanagement of charity funds and no trsLee had benelited linancially, other Ihan 'haI had been agrtted and declared. Ai the date ol-this Teport. no further communication has been received Irom the Charity Cornmission Since the autuinn of 2017. building M'ork has iaken place on the Revelation Iniemstional Centre. Ihe neiv headquarters and Siudios for Revelation TV ID Spain. The centre 15 being built and ivill b¢ owned by Genesis 247 sl, a Spanish company-. wholly owned by the UK ¢harity. Revelation Foundation. The trustees decided when the buildino project first slarled that the cenire 0Id be buili iviihout anv debi. oi. bank rrO'1ng. Through the grace of God. and the lavour of 5upporlcr5. Ihai aim has been achiebe(l. It lias hoped Ihal the building i¥'ork i%'ould be finished so th¢ centre could open early 20?0. The ¢ffe¢is of the global pandemic have caused a delay 10 the work and il is noKY anti¢ipated the openin8 of ihe cenire M'ill be O¢tober 2021. ACHIEVEMENT AND PCRFORMANCE Charitable activities The trustees are encouraged Kl'ith the extent of the Charitable aciivit1e5 being achieved by RevelaLion Foundaiion. Revelation Tv's message is now available on FreevieKv HD, Sky. Freesat. Roku Box. Apple TV and the intemet. The increase of ivays that people Can see and hear Revelation TV has enablcd the message ol'salvation through Chrisi. to wch rnore viei%'er5. An 'app' is available for vieii'er5 to doivnload and ivatch Revelalion 'l'V 'on the go. on Iheir phone5 and ipads 2nd also ii'atch 'calch-up' TV for prograrnmes ihey might have missed. l-he use ol. Socldl media bv Ihe TV 51alion is increasing. The purtmise of the charily is ihe proclarnation ot Ihe gospel ol-Jesus Christ. particularly Ihrough the medium of television, and the trustees eonsider this has been tuifilled through the Christian l¢leision Programmcs produced and shown on Rekelaiion TV. As Revelation TV'5 main studio and headquarte is in Spain. the TV operates under a Spanish liecnce. This licence is in the name of Revelation TV Europe SL. %¥,hich is a Spanish based ¢ompanv. The cosis incurred by Revelation TV Europe sl and Revelation Association in operating the TV station in Spain. are cowered throunh graDlS made by Ihe Revelation Foundation to the Revelation Association. ii,hich ow'ns the 5har¢s ID Revelaiion TV Europe SL.
Revel li n Foundation ort ofihe Trustee5 for the Year End d l December 2020 Int¢rtE21 external fAetors The trustees have made a full assessrnent of the intemal and external taclors that tnay aftect these linancial statemenis. During the yeaT and since the year-end the TV station has been alTected. as most ol-the world have. i¥ith the coronaviru5 epidemi¢. Thankfully the TV station ha5 been able to Tnaintain output. At one sia8e liv¢ pmgrarnme5 ivere sii'itched Irom Sp21n to London .hi15t the Spanith studio had to close tor staff to Isolate. Live programm¢ output signilicantly increased to help vi¢'tr$ ii'ith their 'oleS, conce$ and SPiTTtual needs. FUNDRAISINC Our FundrAi8ing Approach The ethos of our approach is that fundraising activities must reflect our value5 and should be carried out in a manner that the public 2nd our supporters and funders K4'ould expect ot. Revelation TV - sensitiv& ¢ourieous. sincere and genuine. We do not usc prole55ional lundraising agencies such as outbound teletnarkeiing agencies or tace to face 151reet fundraising agencie5 to fundTaise on our behalf. We do noi use a bureau to handle inbound telephone donations and to call back people i¥ho have texted us or oihernvise coniacted u5 in order 10 donate. All fundraising is done in-house by staft-2nd fvolunieers. Ivho H'ork under the supervision of the management team. In vi¢iv of the elT¢cis of the pandemic. all tundrai5ing on th¢ TV station stopped during 2020. Even so, vieK%'er generosity enabled the TV to tneei all its obligaiions without significant cut-ba¢ks. Since the beginning of2020 advertisemenis for a free will service lor lega¢ies io the Revelation Foundation have been made and are being shoivn on Revelation TV. Fundraising Standards A critical teature of 2020 ivas the implementation of GDPR and we look ihis as an opportuniiy 10 Teneiv our privacy notices: our privacy statements and to ensure all supporters had and Continue to have an opportunity to revieii, Iheir relationship ii'ith Revelation TV. Fundraising Our Behalf No extemal people or organisations are engaged in fundraising on behall-of The Revelation Foundarion. Motlitoring of Fundraising Tt 15 part of th¢ trustees and monagerneni team bricf to revie the approach to tundraising and 10 seek 10 be sensltive in the approach taken to raise fijnds. The lack ot-cornplaints is taken as a sign that Ihe right approath is being taken. COMPLAINTS There ii'ert no recorded complaints from members of ihe public io Ihe lundraising methods adopied by Revelation TV in 2020. If a complaint K%'as received there 15 a cornplaints policy in place outlining Ihe corr¢ci procedure 10 thke to deal Ivith the Complaint. PROTECTINC VULNERABLE PEOPLE Be¢ause li'e do noi use external or 'profe55ional' fundraisers to fundraise on our behall-. we art very much in control of how fundraising appeals are carried out. Our supporters and the charitable givin8 public, are our lifeblood, and Ihc relationship ive have with our supporters 15 precious to us. The ethos of our fundraisin8 is principilly based on ivhai i%'e feel it Is fair. ethical and appropriaie to ask for. Our corporaie alues of inte4rity, accountabiltty, compassion and re5pe¢i are not only al the heart ofour mission as a Christian ielevision station and charity, but are also the driving forces for the way in ii'hich i%'e I'undraise.
Revelation FouDda ort of th¢ TSLee for the Year Ende l December 2020 PLANS FOR FUTURE Revelation Foundation continue5 to 8ain momentum with supporters being able to access Christian programming 24 hours a day. Continual work is being done. particularly through Social Media. to reach out to a wider audience. At the titne of ¥irittng ihis repon, the i¥orld continue5 10 be in the midsi ol-a global yandernit. Revelation TV ha5 reswnded to the crisis by ¢hanging its schedule and increasing Ihe number ol. live programMe5. The Sialion has seen a significant incrta5e in viei%'ership durin8 this period. As reported elseK%,here in thi5 report, the building and equipping of the new Revelation Ini¢rnaiional Centre has continued throughout 2020. The trustees ii'ere hoping that the centre i%'ould open during 2020. Because ofthe pandemic, and the resultant lockdoivn it is nokv anticipated this will be October 2021. FINANCIAL REVIEW The Revelation Foundation is pleased to receive funding from many individuals and organisations. Resources have been expended on the continued running of the ielevision channel and progrdmme production: ii'hich has enabled the Foundation to continue the advancernent of Christianity. Overall the charitv has experienced a good year trusts Ihat this ivill continue in fuiure year5. RESERVES POLICY Free unrestricted reserves at 31 December 2020 M'ere £966,117. We need reserves primarily to ensure continuity ol. Revelation TV in the event of a large variation in income, also to spend on etneroencies. The level considered appropriate is £300,000 representing approxTmarely 3 months core operating expenditure. ThL extrd lunds held are to ensure the completion ol-the nekv Revelation International Centre. STATEMENTOF TRUSTEES RESPONSIBILITIES The trustees114.ho a 81$0 the direciors ot'Revelation Foundation lor the purposes of company laivl are responsible for preparing the Report of the Trusiees and the financial gtatements in accordance ii'ith applicable lalv and United Kingdom Accounting Standards (United Kingdorn Genetally Accepted Accouniing Prdili¢el. Company laK%' requires the trustees to prepare financial siaternentS tor each financial period which give a true and lair vieiv of the State of affairs ot the charitable compafty and of the incorning resources and applicaiion ol. re50urces. includin8 Ihe incorne and expenditure, of the charitsble cornpany for thai period. In preparing Ihose linancial staiement5. Ihe trusiees are required to Select suitable accounting wlicie5 and ihen appl). Ihem con5lSt¢ni5y; Observe the methods and principles in the Charit¥ SORP., Make judgernenis and estimates Ihai are reasonable and prudent- Prepare the financial siatemenL% on the going concern ba515 unle*s it is inappropriatc to presume ihai the charitable company will coniinue in business. The trustees are responsible for keeping proper accounting records which disclose ii'ith reasonable accuracv at anv tilne Ihe rjnancial position ofthe Charitable company and 10 enable them to ensure Ihat the tinancial staietnents ¢Otnply %viih Ihe Companies Act 2006. They are also responsible tor sate8uarding the asseis of Ihe charitable company and hence for takin8 reasonable steps for the prevention and de¢tIon ot. fraud and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far the trustee5 are aii'ai'e. Ihere is no re]Lant inlormalion las delined by Seciion 418 of the Companies Act 20061 of i%,hich the charitable company s auditors are unaw'are. and each tru%tee has taken all the slep5 thai they ought lo have taken as a trusiee in order to tnake them aware of any audit intormation and io esiablish thai the charitable company s audiiors are ai%'are ol-that information.
Revelation F ort of ihe Trnste¢5 f r the Year Ended 31 D r 2020 AUDITORS Azets Audit Services Limited are the Company's auditors and they have expressed their willingness to continue in that ¢apaciiy. This report has been prepared in &¢¢ordance with the Stsiemeni ol. Recommended Pra¢iice'. Accounting and Reporting by Ch1t]eS and in ae¢ordAnce with the Chapter 6 part 16 of the Cornpanie5 Act 2006. ON BEHALF OF THE BOARD.. l G Pettit- Tru DaEe'.
Independ¢Nt Auditor's Report to the MeTnbers #nd Trustees of Revelation Found#tion Opinion We have audited the financial statements of Revelaiion Foundaiion (the 'parenl charitable company'l and its %ubidiary {Ihe'8roup'l for the year ended 31 December 2020 i¥hi¢h ¢otnprise the Group Statement of Financial Aaivities. the Group and the Parent Charitable Cornpany S8lan¢e Sheets, Ihe Group Cash Flo¥v StdiemLni and notes to the financial siatemenls. including a summary of significant accounting policies. The Iinancial reporting Irameii'ork that has been applied in their preparation 15 applicable law and United Kingdotn Accounting Siandards. including Financial Reporting sndard 102 The Financial Reporting Standard applicable TH Ihe UK and Republic of Ireland (United Kingdom Gentrally Accepted Accountin8 Practice). In our opinion the financial ststements.. give a tTue and fair vieii, of the state of the group's and parent charitable company's affai a5 ai 31 December 2020, and of the group'5 incoming rtsources and application ot resources. in¢luding lis iiicome and expenditure, tor the vear then ended. have been pwperly prepared in accordance with United Kingdorn Gen¢Ydlly Accepted Accounting Practice. at)d have been prepared in aceordance ivith the requirements of the Companies Aci 2006 and the Ch&ri(ies Aci 2011. Basi5 for opinion We conducted our audit in accordance %lIh Iniemational Standard5 QD Auditing IUKI IISAS IUKII and applicable law. Ourresponsibilities underthose siandards are turther described in the Auditor 5 responsibilities for the audit ol-the financial statements section of our report. Ive are independ¢ni of the group and parent charitsble ¢ompany in accordance with the ethical requirements that are relevant to our audil of the Iinancial 5taternents in Ihe UK. including the FRC'S Ethical Standard. and ive have fulfilled our other eihic31 re5pon5ibililies in aLcordance i4'ith these requirernent5. We believe thai the audit evidence we have obtained 15 sufticient and gppropriate to provide # basis for our opinion. CoDtlu$ions relating to going concer In audiiing the financial siaternenis, Ive have concluded thai ihe trustees, use of ihe going concern ba515 of ac¢ouniin8 in the preparation ofthe financial siatements is appropriate. Based on the ivork we have performed, ive have not identified apy material uncertainties relaiing io evcnts or conditions that, individually or colleciivel, may cast significant doubt on Ihe group'5 or parenl charitable Compan,5 abiliiy to continue as a going concern for a period of ai least twelve monihs frorn ivhen the financial statements are authorised tor l5sue. Our responsibilities and the responsibiliiies of the trustee5 Iviih respeci to going concern are described in the relevant sections of this report. Other informalio The other infomotion Comprises the inforrnation included in ihe trustees anDu81 repon. oiher than the financial slements and our auditor's report ihereon. The trustees are responsiblc lor Ihe oiher infortnaiion coniained i¥ithin the annual report. Our opinion on Ihe financial statement5 does noi coi'er the other information and. except 10 the ¢xl¢ni otherii'ise eAplicitly stated in our report, Ive do not expre55 any fortn of assurance conclusion Ihereon. Our responsibilily is 10 read the other infortnaiion and, in doingso. consider ivheiher ihe oiher infortnation is maierially inconsisteDI wilh the financial staiemenis or our knoii'ledge obtained in the course ol-the audil or oihcnvise appears to be maicrially mi5Stated. It. li'e identifv Such rnaterial inconsistencies or appareni material misstaiemcnts. we are r¢quired to detei'mine ivheiher ihis gil'es rise to a material misstatement in the financial staiemenis Ihemselve5. 1 I.. based on the i%ork i¥'e have perlomed, lie conclude that there is a material misstatement ofihis oiher information. il'e are required 10 report Ihdl I'a¢i.
Independent Audttor's Report to the Member5 and Trustees of Revelatiotk Foundation Opiiiions on other Tnatters preseribed by the CoTnp#nies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the tNstees' report lineorporating the directors. rewrtl for the financial year for which ihe rin8n¢ial stAiements are Prepared is ¢onsisteni ivith the financial staternents.. and the trustees. report has been prepared in aceordanee with applicable legal requiretnents. Matters Ivhith we Are required to rèport by exteption In the light of our knowledge and understanding of the group and parent charitable cornpany and its environrneot obtsined in the coutse of the audit, we have not identified material m155taiemeDts in the direciors report. We have nothing tts report in respect of the lolloiving matters in relation to w'hich the CompaniesA¢i 2006 and the ChIll¢S Act 2011 requires us to repon to you if. in our opinion.. adequaie and sutTicient ac¢ouDling records have not been kept by the parent eharitable eompany. or returns adequate for our audit have not been received from branches not visited by us: or the parent Charitable company's financial statemenis are noi in agreement with Ihe accounting records and retums., or certain disclosure5 of directors, rernuneration Spl(led by law are not rnade. or we have Dot received all the infortn81ion and explangtions we require tor our audit; or the ll'ustees u'ere not eptitled to prepare the financial sthtements in accordan¢e iviih Ihe srnall companies regime and take advantage of the small companies, exemptions in preparing the directors, report and from ihe requirement to prepare a straie8ic reporL R¢sponsibilities of trustees A5 explaincd more fully in the trustees responsibilities statement sei oui on page 5. the tru5te¢s (who are also the dire¢tor5 of the parent ¢haritable company for the purFX)ses of company lai%'l are responsible for Ihe preparation ol. Ihe financial strtemenis and for being satisfied Ihai Ihey give a Irue and fair view. and for such intcmal control &% the Irustees determine is necessary to enable the preparation of tinaneial siaoments Ihal are fl'ee from material mi55ts1emeni, M,hether due 10 fraud or error. In preparing the financial staiements. the iru5tees are responsible lor a55essing Ihe group-5 and parenl ¢haritable company's ability to continue a5 a going ¢oncem, disclosing. as applicable. matter5 relaied 10 going concern and using Ihe going concern b&sis of accounting unless Ihe Irusiee5 eiihcr intend io liquidaic Ihe ?roup or the pareni Chariiable Compan or Cease operations, or have realistic alternative bul to do so. Auditor 5 rt5pon$ibilitie5 for the audit of ihe financial statement$ We have been appointed auditor under Ehe CompaDi¢s Aci 2006 and rew)rt in accordance with this Aci. Our obje¢tives are to obtain reasonable assurance about ivhether the financial statements as a whole are free frorn material misstaiement, i%,hetherdue to fraud or error, and 10 i55ue an auditor's repori Ihal includes ouropinioD. Reasonable assurance is a high level of assurance. but is nor a guarantee ihat an audit conducted in accordance 1% iih ISA5 IUKI ii'ill alii'avs detect a material mis5taternellt ivhen it exists. Mi55taternents can arise trom I'raud or error and are ¢onsidered material if, individually or in the aggregaie. they could reawnablj be ekpected to influenc¢ Ihe econotnic decisions of users thken on the basis of these financial sialements.
Independent Auditor's Report to the Members and Trust¢es of Revelation Foundation Auditor'$ responsibilities for th¢ audit of the financial statement5 Iconlinuedl Irregularities. including fraud. are instances of non-compliance with laii's and regulations. We design procr¢S in line Yith our responsibililies, outltned above. to detect material rni5Staiemenis in respect of irregularities. including I'raud. The extent to ivhid) our procedures are capable of detecting irregularilies, including fraud is detailed below Based on our und¢rstanding of the charity and industry. i%'e identified that the principal risk of non-compliance with la¥i's and regulaiions. We also obtained an undersianding of ihe legal and regulatory IrarDeii'orks ihai the charity Operat in. focusing on those that had a direci et'lect on tnaterial ligur¢s di5¢1osures in the linancial staiements, Ihe main regulations considered in this context included the Compznies Act 2006. Charities Act 2011. FRS 102 and Charity SORP. We evaluated the incentives and opportunities tor fraud in the financial stalements. including, but not IiFniied to. the risk of override of controls, and designed procedures in response to these risks as follows: enquiring of manaoerneni concerning actual and poiential litl8ation and ¢laims,' perfonning analyti¢al procedures lo identify any unusual or unexpected relaiionships Ihai may indicate risks of material misstalement due to fraud., testing ihe appropriateness of joumal eniries and oiher adjusiment5', assessing ii,hether the judgements made in tnaking a¢¢ountin8 esiitnates were indicaiive of a poteniial bias, and- evaluating the business r8tionale of any significant transactions that ivere unusual or outside the nornial course of busine55. We a150 cornmuni¢ated relevant identified laws and regulations and potential fraud r15ks ttt all en8agemenl team member5. and remained alert to any indications of fraud or Don-eompliance with lai¥s and i"e8ulations Ihroughout the audii. Because of the inherent Itmitations of an audit, there 15 a risk that we will not detect all irre8ularitie5. in¢ludin8 those leading to a material misSLgtemenl in the linancial SlementS or non-compliance ii.iih re8ulation. This risk Incre¢$ the more that compliance iviih 8 laK%' or regulation is removed Irom ihe e¢iS and transactions reflecitd in Ihe financial statements, 85 ive ivill be less likely (o become 8I%'are ol- instances ol. non-cornplianLe. The risk is also greaier regarding irregularitie5 occurring due to fraud rniher than error. as fraud involves intentional concealment, forgeryi coIIu5ion, omission or misrepresentation. A fuTther description of our r¢sponsibilitie5 tor the audit ol'the linancial siatements 15 local on the Financial Reporting Coun¢il's i%ebsite at.. Ivwii'.frc.org.uklaudilorsresponsibilities. This descripiion lorms part ol'our audiior s report. Use of our r¢port This report is made solely to Ihe parent charitable cornpanv's mernbers. as 2 tK)dy. in &¢cordance M'ith Chapter 3 of Part 16 of (he Companies Act 2006 and to the Charitable company's Irustees. a5 a bodv. in accordance ivith Part 4 of the Charitie5 (Accounts and Reports) Regulations 2008. Our audit liork ha5 been undertaken so that we might state to the parent charitable ¢ompany'5 rneTnbers and its trusEees those matters li'e are required 10 siaie lo them in an auditor s rtport and for no other purpose. To the fullest extent permitted by la¥v. lye do not accept or assume responsibility to anyone other than the parent charitable company and the parent charithble company's members a5 a body and the pareni charitable company's irustees as a body* for our audit work. for this repon. or for the opinion5 Ive have formed. Alex Temlett CA ACA cfA (Senior Stsiutory Auditor) For and on behall'ol-Azets Audit Servi¢e% Limited Statutory Auditors & Chartered Accountants Ash¢ombe Court Woolsack Way God2lming Surw GU7 ILQ Dale
Revelati n Foundation Re isiered Com Number.. 49 0129 olidated Statement of Financial Activit foy the Year F.nded 31 December 20?0 land an Wales 2020 Unrestri¢ied Funds ?020 Restricted Funds 2020 Total Funds 2019 Total Funds Notes INCOME AND ENDOWMENTS FROM: Donations and legacies Other trading activities Income frotn investments 1,887,261 401.076 2.288,337 2,279,151 110,386 83 27 Total income aJ]d endowments 401.103 2.400 252 EXPENDITURE ON.. Expenditure on raisin8 fvnds Expenditure on charitable aciivitses Expenditure on govemance 27.800 1.578.277 536 17,788 4),588 I,i78,277 23.536 46,693 1.73i,778 26.)43 Total expenditUTe 1.629,613 17.788 .647.401 1.807,014 NET INCOME 369,536 383.315 752,851 i82,606 Other recognised gain(lO$se8} Unreali5ed foreign ex¢hang¢ 227.293 170361 Net movement in funds 596.829 383,315 980.144 412.24) RECONCILIATION OF FUNDS Tot81 funds brought for%vaTd 1.876.691 3.083.673 4 960.314 4 548.069 TOTAL FUNDS CARRIED FORWARD 47 10
"Revelation Foun Istered Com Balan heels At l December 2020 tion an Number.. 04930129 land and Wale5 Group 2020 Group 2019 Charity 2020 Charity 2019 Notes FIXED ASSETS Tangible assets Investments 4.633,449 3.810.176 11.485 70?.911 18,958 702 911 12 463i44 810 176 714 396 CURREi¥if ASSETS Debtors Cash at bank 398.969 967.96) 375.708 842,430 4,230.429 961.947 3.499 ?99 712,178 1.366.934 .218,138 i.192,376 4,211,477 CREDITORS Arnounts falling due within one year 14 68.000 iO.258 57.763 IYET CURRENT ASSETS 5.142 118 4.153 714 NET ASSETS FUNDS Unrestricted fund5 Restricted fund5 2.473,5?0 ).466,938 1.876.691 3.083.623 2.389.i76 3.466,938 ,791.960 3.083,6?3 16 TOTAL FUNDS i.940,4i8 4,960314 5,8i6.i14 4.87i,i8i The trustees acknowledge their responsibilities for la) ensuring that the charitable company keeps accounting records ihat ¢omply 1th Se¢iions 386 and )87 of lh¢ Companies Act 2006 and preparing financial statern¢nts which give a true and fair view ot'the state ol-Jllairs ol'ihe charitable company as at the end of each fiDan¢ial year and ot. its surplus or delicit lor each linancial year in aLcordance '1th the requirernent5 of Sectlons i94 and 39) and ivhi¢h oiheNiise comply with the requirements of the Cornpanies Act 2006 relating to financial statements. 51) far as applicable to Ihe ¢h8ritable company. Ibl These financial st8iement5 have been prepared in accordance wilh the special provisions of Pan 15 ofihe CorDpanies Aci 2006 relaiing to small charitable companies. The finan aternents ivere approved by the Board ot. Trustees on ..15. and Ivere signed on its - Trustee
Revelation foundation isttred Com an Number.. 049i0129 Cash tIoii' 5tstement th Year End 3 land and Wales mber 2020 2020 Group 2019 Group Cash flow from operating activKtles: Net cash provided by operating 2Ctiviiies Cash flow from invt5ting gctivities: Purchase of property* plant and equipment 967.387 1.099.157 8418)2 Change in ¢#sh and cash equivalertts in the porting period Cash aTrd cash equiv8l¢nts Ill the beginning of th¢ reporti]Jg peritsd Cash and Cash e4uivalents at the end of the reporting period 125,i3i 1659,7011 842.430 l.i02 131 842 430 Re¢orteillatlon ofnet ittcomel{expenditurel to net tgsh flow from op¢rgting activities.. Net itLtomellexpenditur¢l for reporting period las per tht statement of fiDau¢isl getlVLtiesl Depreciation Charges Ilncrease)IDecrezse in debtors (De¢reaselllncrease in creditors Net CAsh provid¢d byl{used in) operatlllE aeiivitle5 980,144 18.579 123 ?611 412,245 67.9iO 617.276 967 9.li7 12
Revelat. F undation Notes to the Financial Statements for Ihe Year Ended 31 December 2020 ACCOUNTIIYG POLICIES Revelation Foundation is aprivate cornpany limited b) guarnniee. incorporated in England and Wales. The registered offi¢e 15 Ashfields, 129 Pre5tbury Road, Maccle51ield. Cheshire. SKIO 3DA. The principal ol'fice addre55 15 Calle Fuengirola no14. Urb.Jardines de la Butiplaya Fase 2 L.ocal li. 29649 La Cala de Mijas. Mijas Cosia. Malaga. Spain. The nature of Ihe charity's operations is set out in the Report ol-lhe I ru51ees. The TV 5tatiott's main base is in Spain and the day tts day ediiorial and m2nagem¢nt decisions are taken there bv Ihe leadership ieam. under Ihe direction of the Irusiees. The TV station also operates a small studio and offi¢e in commcrcial premises in the London area. The lease lor these premises vas signed in July 2017 and the pretnises became operational in January 2019. Accounting convention The financial statements of the charitsblc cotnpany. w'hich is a publie benefii ¢Dtitv under FRS 102. he been prepared in accordance ivith the Charities SORP IFRS 1021 'AcLouniing 2nd Reporting by Charities- Statement ol. Recommended Practice appli¢able to charities preparing their accounts in accordan¢e i%'ith Ihe Financial Reponin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 lissued in October 20191,. Financial Ileporting Standard 102 'The Financial Reporting Standd applicable in the UK and Republic ol- 5relaDd', the Charities Aci and the Cornpanies Act 2006. The financial statements have been prepared under the historical cosi convention. Group fJDglltIg1 statements The financial statements consolidaie the results ol-the charity and ils wholl) oi¥ned subsidiaries15ee note l ?). A 5eparaie Statetneni of Financial Activities tor the charil). iisell- is noi prrsented because the charitj ha5 taken adkantaD¢ ol. the exemptions afforded by section 408 ot'ihe Companies Act 21KI6. The accounis ol'Genesis 247 SL have been con501idated within these tigures at 31 Decembei. 2020. Ineome All incoming Fesout¢es are included on the Slaternent of Financial Activiiies ivhen Ehe charity 15 legally entitled LO the income and the amount can be quaniitied i4'ith reasonable accurac>. The charity also b¢nelils fmm volunieer time frorn ils founderand others. It is ttoi possible lo place a valuc on thi5 time therelore (his is noL included in the SLatement of Financial Aciivities. Expenditure Expcnditure is a¢¢ounted for on an a¢cruals ba51s and has been classilied under headings thai aggregaie all Cost related 10 the category. Where costs cannot be directly attributed to particular headin8S the) have been allocaied 10 activities on a basis consistent ivith the use of resources. Tangible fixed assets Depreciation is provided at the folloiving annual rates in order to wriie off each asset over its estimated useful life. Plant and machinery etc. 16.70/0 and J3Vo on ¢051 Freehold land and buildings a not depreciated Kvhi15t construction works are in progress. Inve5tmertts Investments represent invesLments in subsidiary undertakings. Ivhich are measured al cost less an). pennanent impaimient. Foreign Currencies Assets and liabilities in fol8n currencie5 are Iranslaied into sterling at Ihe rates of exchange ruling at ihe balan¢e sheet date. Transactions in foreign ¢urrencie5 are translated inl0 sterling ai the raie of exchange ruling &i the date of Iransaction. Exchange differences are taken into account in 2rri*ing at the tsperaiing re5uII. Taxation The chariiy is exempt from corporation ta¥ on its charitable activilies. Irretoverable VA T The irrecoverable VAT on expenditure is shown separaiely in the Statement of Financial Activiiies.
Revelatio ndation Notes to the Financi81 tements- eonlinued for the Year Ended 31 December 2020 OperAting leases Rentals paid under operaung leases are charged to in¢ome and expendiiure as incurred. Fund accouDting Unrestricted funds can be US Tn 8c¢ordanct with the charitable oi)jective5 at the discretion ot'the trustees. Restricted funds can only be used for particular res¢ri¢ied purposes i¥ithin the objects of the charity. Restrictions arise when specilied by the donor or when funds are raised lor particular re5tri¢ted purposes. Further explanation of the nature and purpose of ea¢h fund is included in the noics 10 the finAllci81 staiement5. Going con¢¢rn The financial siatements have been preparcd on a going concern basis a5 the Trustees believe that no material uncertainties exis(. In¢luding the impact of COVID-19, the frustees have considered the level of I'unds held and the e.xpected level of in¢ome and expenditure for the 12 month5 from auihorising Ihese financial staiements. The budgeted income and expenditure is sutTicieni with the level of reserves for lh¢ charily 10 be able to continue as a going concern. D¢btor5 Short term debtors are measured at transaction value les% any itnpairmeni. Ai each balan¢¢ 5heei dai< debtors are a5se55ed for obje¢tive evidence of irnpaiment. If an asset is impaired, the impaimient loss is measured as the difference betivttn the ¢arrying 2rn0unl and the amount expected t() be receiked. Creditors Short term tr2de creditors are mvdsured at transaciion value. Oihcr finaD¢ial liabilitie5 are tne2sured iniiially #t fair value, net of transaction costs. and subsequently ai amortised cost Using the el'fective inierE5t method. Critical accouTbtiThg judgements and key $outtes of e5tiTnalion untertainty No significant judgements have been made by the Trusiees in preparin8 these financial Statements. DONATIONS AND LEGACIES Unrestricted Funds Restricted Funds Total Funds 2020 Toial Funds 2019 Donations received from suPrterS Legacies Tax repayable 1.590.688 1??.680 l ?J.893 363.487 1,954,175 122,680 211.482 2,023.847 30,000 225.304 2019 Funds allocation.. Of the £2,023.847 donations received from Supporte £1.488,9? l Ivas unrestricled and £534,926 ivas restricted. Of the £30.000 legacies weived from 5UPPQrters £30.000 was unresiricted. Of the £225,304 t&x repayable £177.208 Il'as unrestricted and £48.096 i%'as restricted. OTHER TRADING ACTIVITIES Unresiricted and Total Funds 2020 Unre51ri¢ted and Total Funds 2019 Hire of o]uipmenLluse of plattortn 91.740 110,386 Foreign exchan8e 8ain 20.148 14
Revelati n Foundation Note t the Financial Statements- c ntinued f r ihe Year Ended 31 December 2020 INCOME FROM INVESTMEIYTS Unrestricted Funds Restricted Funds Total Funds 2020 Total Funds 2019 Deposit account interest and dividends received 2019 Fund allocation.. Of the £83 incorne from investments received £)7 ivas restricted and £26 ivas unrestricted. EXPENDITURE ON IUISINC FUNDS Unrestricted Restricted Total Funds 20?0 Total Fund5 2019 Wages Consultancy costs Postage, printing & stationery 2,800 2.800 9,867 32.921 2,800 10,177 33.716 4,7)) 9.876 2019 Fund5 allocaiion.. Of the £46,693 expenditure on raising funds £28,883 was unrestri¢ied and £17.810 i¥as restriaed. EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricted and Total Fund5 2019 Unresiricted Funds Toial Funds 2020 Wages Training Satellite, broad¢astin8 and other direct ¢osts PremTsts eost5 Travel and subsistence Computer expenses Consultancy cosis Subscriptions Sundry expenses Postage. printing & statTonery Fund raising cos Staff welfare Telephone Donaiions Irrecoverable VA T and other tsxes Deprt¢iation of planL machinery ei¢. Insurance 83.517 83,)17 88,164 207 421,034 58,855 32,63) 17.969 94,524 4,154 l.oio 31,729 4),748 13.224 24.789 87,164 9.7iO 70) 32.921 45.748 l i,224 ?4,789 87.1 9.750 705 32.921 19.884 478 22,061 851.702 2i,19i 62.9iO 1.223 340 16.6)8 1,184.289 340 16.6)8 1.184.289 23,403 18,579 18.)79 5.461 15
Revel n Foundatio Notes the Financi tatements- ntinued for the YeaT Ended 31 Decernber 2020 EXPENDITURE ON GOVERNANCE Unrestricted and Unrestricted and Total funds Totsl Funds 2020 2019 Professional f¢es Legal fees Auditors, remuner&tion Interest payable and Similar charges 6.822 7.167 1.900 9,000 8.476 9,000 7.714 INCOMEIEXPENDITURE IncotnelExpenditure i5 Stated atler charging.. Total Funds 2020 Total Funds 2019 Auditors, remuneration Depre¢iation- owned ass¢is 9,000 9.000 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remuneraiion or oiher benef51S for the year ended 31 December 2020 and nor lor the previou5 period. Trustees, Expenses Travel expenses amounting to £8.197 kv¢re reimbursed to 4 trustee5131 De¢ember 2019- £i2,827- 4 trusieesl. io. STAFF COSTS 2020 2019 Wages and salaries There were no staff eamin8 more than £60.000. Revelation Association provide and pay stal'f who work for Revelation Foundation. The cost is esiimated to be £)i2,69612019 £)15,3921. The key managetnent personnel ofthe Charity received remuneration of £47.6491?019_ £46,340). The average number ofemployees analysed by funciion %va5 follows.. 2020 2019 Charitable services Fundraising 16
elation Fou Not to the Finan¢ial Statements- ntinued for the Year Ended 31 December 2020 TANGIBLE FIXED ASSETS Frechtsld land and buSlding5 Studio, camera and ¢omputer equipment To¢81 Group COST At l January 2020 Additions Foreign exchange movernents At 31 December 2020 3,791.218 611,100 219.646 4.6YI.964 983.394 4,774.612 622.206 219.646 5,616,464 994 500 DEPRECIATION At l January 2020 Charge for the year 964.436 18.579 964.436 18.579 At 31 December 2020 98).Oli NET BOOK VALUE At 31 De¢ember 2020 4,633.449 At 31 December 2019 3 791 ?18 3,810,176 Studio. esmera and coThpuÈer equipmetLt Total Charity COST At l January 2020 Addition5 871.297 871,297 At 31 December 2020 882.403 882 403 DEPRECIATION Ai l January 2020 Charge for year 8)2.339 18.579 852,339 18,579 At i l December 2020 870,918 870,918 NET BOOK VALUE At il December 2020 11,485 11,485 At 31 December 2019 18.9)8 17
Reve12tion Found ti Notes to the Financial Statements- continued for thr Year Ended 31 December 2020 12. FIXED ASSET INVESTMENTS Ch#rity Shares in group undertakings fvIARKET VALUE Ai l January 2020 702,911 At 31 De¢ember 2020 702.911 NET BOOK VALUE Ai 31 December 2020 702,911 At 31 Decernber 2019 702.911 There il'ere no investrnent assets outside the UK oiher than shares in group undertakings. The company's investments at the balance sheei dale in the share capiial of companies include the following- R¢velgtion TV {Londonl Limited Nature of business.. Dormant Registered number.. 04572981 Clas5 of Share.. Ordinary holding 100 2020 2019 Aggregate ofassas. liabilities and funds 18
lati n Foundatio N tes to the Finan ial Statements- contlDu¢d for the Year Ended 31 December 2020 Cen¢si$ 247 SL Countr>. of in¢orporation.' Spain Nature of business.. Chri5ti3D TV channel. Class of share.. Ordinary holding 100 2020 2019 Aggregate of assets, liabilities and funds 122 Incoming resources 26 Expenditure on charitable a¢tivilies Governance costs Total costs 37.872 3.i12 (Lossl for the year 45.4921 40,6JOI 13. DEBTORS.. AMOUNTS FALLIIYC DUE WITHIN ONE YEAR Group Charity 2020 2019 2020 2019 Trade debtors Oiher debtor5 Tax recoverable Prepayments 109.128 239,774 29.98? 20,08) 109.128 193.824 29,982 20.085 217.880 33.78? 8.863 189.91) i3.782 8.863 398,969 375,708 3)).019 347 743 AMOUNTS FALLING DUE AFfER ONE YEAR Group Chgrity 2020 2019 2020 2019 Amounts oi¥ed by group and associated underVdkin8S 77.410 3.877.410 3.151.5i6 19
n F undati Notes to the Financial Statements- continued for the Year Ended 31 Decetnber 2020 14. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR Group Charity 2020 2019 2020 2019 Trade creditors Social securiry and other t¢5 Other ereditOT5 25,866 18,554 15.505 30.946 13,925 23.129 23.238 15.832 18.802 15,505 59,925 68.000 50.2)8 15. MOVEMENT IN FUNDS- UNRESTRicfED Croup Unrestrieted fund5 AtOI.01.20 Net movernent in fund5 At31.12.20 General fund Net movement in funds, included in the aLN)ve are as folloivs.. In¢orniDB resources Resourtes expended Foreign currency Movernent in funds UnrestrÉcted fund5 General fund Charity: AIOI.01.20 Net movement in funds Ai31.12.20 Unrestricted funds General fund Net movement in funds, included in the above are 8$ follows.. Incomin8 resources Resources expended Movemeni in lunds Unrestrieted funds General fund 2.181.737 20
Revelation Foundati Notes to the Fin ncial Statements- contin for th Ye2r Ended 31 Decernber 2020 16. MOVEMED4T Iiy FUNDS- RESTRICTED Croup tharlty Nei movement in funds AtOI.01.20 At31.12.20 Re5trict¢d fuvds Building fund Compassion Rwanda Tot21 restricted funds 3,081,775 1.848 i83.315 3.465.090 Net movement in fund5. included itt the above are a5 folloiis: Incorning resources Resources expended Movemeni in funds Restricted fund5 Building Fund Towl restricted funds 401.loi 17.788 383.315 The Building Fund 15 a fund sei up to acquire land and build a new siudio. 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS Croup Unre5tri¢ied Funds Restricted Funds Total Fund5 2020 Tangible fixed assets Current assets Cash at bank Current liabilities .168.359 398,969 966.117 i,465,090 4.633,449 398,969 967,965 59.925 1.848 2.473.520 466.938 Charity Unresiricied Funds Rtslriaed Fund Total Funds 2020 Tangible lixed assets Investments Currtnt assets Cash al bank Current liabilitie5 11.485 702.911 76i,339 960.099 11.485 702.911 4.230.429 961.947 3.46i.090 1,848 2.389.i76 3 466 938 6.514 21
Revelation Foundation Note to Ihe Financial StatemeDts- continued f r the Year Ended 31 Decem 18. RELATED PARTY DISCLOSURES 21. CenWry Television Limited la company in which Lesley Conder. a trustee, 15 a major shareholderl paid the Charity £89,74012019.. £106.3861 in respect of br08dcasiing costs. £107.688 12019- £114,663) ivas oil'ed at the year end and is included in trade debtors. Elaine Pettie (daughter in lai¥ of Gordon Pettie a trustee} was paid £28,000 12019.. £28,0001 for providin8 bookkeeping services to the chariry. Bethany Conder (daughter of Lesley Conder a irusieel il'as paid £75012019.. NIL) for providin8 administration services. Luke Conder Limiied (a company under the control of Luke Conder- son ot'Lesley Conder a Irusteel w&$ paid £NIL12019.. £28.2991 tor the provision ol'¢onsultancJ services. Luke Conder (son of Lesley Conder a tru5teel Ivas paid £30,00012019.. £NILI for the provision of consulneY services Park 3D Limitd la company under the conirol ot Jeremy Park- brother in law of Lesley Conder a trus) Ivas paid £3.840 12019.. £989) for the provision of consultancy seTrices. During the year, broadcastin8 Costs of £NIL 12019: £389,334) were paid to Revelation TV SL a company connected by directors in common. The balance owed by Revelation TV SL is £155,70612019.. £ l ii.7061 and is included in other debtors. During the year, donations totalling £1.179,2i412019.. £844,973) Ivere paid lo ReNelation Association. a Lharity connec*d by tru5tee5 in common. The balance owed by Revelation Association is £4,209 12019.. £4.2091 and is included in other debtors. 19. FINANCIAL PERFORMANCE OF THE CHARITY The consolidated statetnents for financial acti1[1£5 includes the resulis ot'the charit} s ii'holly okvned subsidiarie5 (see nore The financial performance for the charily altsne is:_ Unresiri¢ied Funds Restricied Funds Tothl Funds 2020 Total Funds 2019 Incoming reserves 1.999.149 2.400.252 2.389.594 Costs ot generating voluntary in¢ome Expenditure on charitable activities Governance costs 27.800 I,ii6.097 20.224 17.788 4i.i88 1,536.097 20.224 46.693 1.695.907 1584.121 601.909 Other gainslllosses) 182.588 187.)88 Net incoming resources 597.616 383.31) 980.9) I 501,670 Total fund5 brought forward -791.960 -083.623 4.87i_583 4.37i.913 Total funds carried for¥vard 2 389 576 3 466 9)8 5856514 4 875 583 22
Revelati nF und ti Note5 to the Financial Statements- CODlinued ror the Year Ended 31 December 2020 20. FINANCIAL COMMITMENTS Leasing Commitment5 At 3 1 D¢¢emkr 2020 the group had annual commitments under non-cancellable operatin8 le$ as detailed beloiv:_ Group Charity 2020 2019 2020 2019 Opernting leases which expire Within l year Between l and 5 ye£r5 Over 5 year5 16,000 64.000 8.000 16.000 64,000 24.000 16,000 64,0(K> 16.000 64.000 24.000 The cost of operatin8 lee$ during the year was £16.00012019.. £16.0001. 21. ULTIMATE CONTROLLINC PARTY The trustees consider there to be no overall controlling party. 23