REGISTERED COMPANY NLIMBER: 04930129 (England and W*le$) REGISTERED CHARITY NbMBER: 1100573 Re Financial Statements for the 2023 for Revelation Foun Azets Audit Services Limited Registered Audiiors Ash¢ombe Court Woolsack Way G(MJalmiti8. sU¢Y GU7 ILQ
RevelatLOrt Foundati Conteniq of the Financial Statements for the Year Ended 31 December 2023 Pa8e Report of the Tru$iees Ito6 Report of the ITJdependent Auditors 7t09 Statement of Financial Activities 10 Balance Sheets Cysh Flow Siatement 12 Not¢5 to the Financial Staiemenis 13to23
ev lion Fo Re rt of the Trnstees for the Year Ended 31 Deeember 202 The tnjsttts of the charity. who are also direciors from a eompany law persp¢ctive, preseni their report with the fJnan¢ial statements of the charity for the year ended 31 December 2023. The financial staiernents eomply with the Chartues Act 2011, the Companies Aci 2006, the Memorandum and Article5 of A&s(latiOtt. and AeeountinB and Reporting by Chan'ues: Statement of RQmMended Practice applicable to charities preparit)g their accounts in accordance with the Financial Reportxng Siandard 4)plieabl¢ ID the UK and Republic of Ireland IFRS 1021 (published (ktober 20191. REFERENCE AND ADMINIST114TIVE DETAILS Registered Compiny number 04930129 IEngland and Wale51 Re8l$¢er¢d Charlty number 1100573 Regl$tered offl¢e Ashr]dS 129 Prestbury Road Macclesfield Cheshire SKIO 3DA Trustees l G P¢tti¢ J Odell P Darg- R¢sigD¢4122 April 2024 L Pettie L Conder S JayakrAshna Compan>. Secretary l G Petiie Chief Oper*ting Offleer l G Petti¢ Audltors Azets Audit Seryi¢¢s Limited Ashcombe Court Woolsack Way Godalming Surrey GU7 ILQ Soll¢l¢ors Pe4rce Legal Limited 2 Th¢ Square Solihull West Midlartds B913RB Bankers HSBC plc I Vi¢torEa Road Surbiton. Surrey KT6 4LF
Revelation Foundation rt of the Trustees for the Year Ended 31 December 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT GoveTDing document Th¢ charity 1.8 controlled by its govemin8 document, a deed of trust, and constitut&s a limited company, limited by guarantee. as defifted by the Companies Act 2006. Rev¢lation Foundation was incortx)raied a5 a cilmpany limited by guardnlee on 13 Ociober 2003. li was registered as a charity on 6 November 2003. Revelation Foundation has a wholly owned subsidiary. Gene515 247 SL, incorporated in Spain. Revelation Froundation and Genesis 247 SL are reFK>rted herein the Group. Recrultment and appoitMent of neiv tru5¢ee$ The itustee.s, who are al*0 directors for the pll4se of company law, who $erved during the period of this report. are sei tsut on page l. There 18 a procedure for the recruitineni and appointmeni of new tsMSe$, namely that nomanations are received tn wTitin¥ by ihe curreni Iwsiee8. who then discuss at]d vote upon any nominaiion8 received. New tTU5tee5 are recogniqed and appointed by the curreni board in recogrtition of their contribution and value to the charity. A further independent mLSftt is being soughi for the Board. Indlletlon training of new trustee5 All new trLEStees are given, in ihe view of the board. suificient training and have enough knowledge of their sp¢¢ific field 10 understand the nature of th¢ charity and fully comply wilh the charity'5 Objectives and ruponsibilities. Orgfinlsatlonal $t¥lletllre The Irusiee8 are retsponsible for the strdtegic direction and policy of the chariiy. Day io day respon8ibilily is delegated to leadership ieam of three, which consi515 of three trusie¢s, one of whom is ihe Chief Execulive Officer of Revelaiion TV. The founder, Howard Conder. is noi a TtU5tce. or part of th¢ l¢ad¢rship team. He conrinues io regularly appear in programmes on Revelation TV. Wider network Revelation Foundation has set up two non-profit orgat)isations. namely Revelation As$ociaiion in Spain and Revelation TV Inc., in the United States. They hav¢ been ¢slablished wilh the same PLuyose and function as the Revelation Foundation in the UK. A number of tn15ttts of the Revelation Foundaiion are also inlee8 of the Revelaiion Association ond direciors of Revelation TV In¢., in the US. Risk management The trustees have a risk management strategy and the trustees regularly review the risks that the charity may face. The in18 consider thai the charity is exSed to minimal risks and existing systems and procedures adequately tnanage such ri8ks. Public benefit The iru8tee5 have had regard to the Charity Commission statement on public benefit, and pani¢ularly ihe specific ¥uidanc¢ on chariiie8 for the advancement of religion. In this respect the trustees want lo record thai they have seen many live5 changed ihrough Ihe chri.stian mes5a8e being proclairned across the television ainvaves. Duting ihe year. by ph¢)ne, lexi and email. as well as by personal visJLs ¢0 the 5tudi05, Vlewers have testified to the benefii of ihe messages heard on the TV station. Personal visilors to the studlo are invited lo share their story and spiritual Journey. If they agree this is recoided with a vi¢w co showing on the ¢haruJel at a future date.
Revelatson Foundation rt of the Tn]slees for the Year Ended 31 De¢ember 2023 OBJECTIVES AND ACTIVITIES Objectives and aims The objective5 of the charity are the advancemeni of Chrisiianlty in the United Kingdom ond elsewhere by any means including the preaching and proclamation of the Chri81ian Gospel and (he teaching of Christian dwtrines and PTinciples and values. The trustees consider these objectives are being fulfilled through the pro8ramrnes thal pre being rnade and broadc&st on Revelatiot] TV. The TV slation's main base 15 in Spain and the day lo day editorial and management decigions are ke ihere by the jeaderh1P team, under the direction of the trustees. The TV siation also operaies a btudio and otyice in comm¢rcial premibes in the London area. St9lg and volunteers The majority of Revelation sthff are based in Spain and paid through ihe Spanish Company. Gene%is 247 SL, which is a subsrdiary of the Revelotion Foundaiion. During 2023. Rcvelation Foundation employed two staff in the UK. In addition, there were five paid ¢on5uliants in the UK who worked as required for ihe TV station. Slgnlfie#ni aetivities Building work on the Revelation Iniernaiional Cenire in Spain began in 2017. The trnslee8 decided when the building projeci started that the centre would be built withoui any debt, mortgage or bank borrowing. Through the grace of God, and the favour of supporterg. that has been achieved. The effects of Ihe global pandemic. and the wliti¢al decisions on Brexit. caused a delay lo the completion of the building. The Centye was compleied in laie 2022 and the team rnoved inio the building. The otyicial Opening Ceremony, with viewers vi5jling th¢ cenire. was in ihe April of 2023. The propety is owned hy Genesi$ 247 SL, a Spani4h company, wholly owned Revelation Foundation. ACHIEVEMENT AND PERFORMANCE Charltable 8Ctivities The trngtees are encouraged by the exient of the Chanble activities being kehieved by Revelation Foundation. Revelation TV is now available on the following platfomis.. Freeview HD, Sky, Fre&s2t, Roku Box. Apple TV. the Revelation 'app' and the intemei. The increase in ways that people can see and hear Revelation TV has enabled the message of salvation through Chrisi io reach more viewers. An exa]nple of this 18 the 'Revelation app. which enables 1'2ewers to watch Revelation TV 'on the go. on their phones and ipads. and also watch 'catch-up' TV for programmes they might have missed. The use of social medio by the TV $tIOn is increasing. Revelation Tv's main siudio and headquarters is in Spain. The TV %iation operates under a Spanish licence. This licence is in the name o(Revelatitsn TV Europe SL. whi¢h is a Spanish-based company. wholly owned by the Revelation Association. The ¢osi incurred by Revelation TV Europe SL and Revelaiion ASs(la110rt, in operating the TV s(aiion in Spain, are covered through granis made by the Revelation Foundation to the Revelation Association. The cos15 Lncurred by Genesis 247 SL. which is 8ubsidiary of Revelaiion Foundation, are invoiced on a monthly basis from Genesis 247 SL to Revelation Foundation.
Revelation Foundaiion n of the Trugiees for the Year Ended 31 December 2023 Internal and external factors The trustees have made a full assessment of the inlernal and external factors thai may affect these financial slat¢ments. During the year. and since the year-end, the TV station ha5 maintained output of programmes, 24 hours a day, 5¢ven days a week. Live programme output ¢ontinues to increase to help Yiewers witb their wOleS, CODcerns and spiriiual needs. FUNDRAISING Our Fundralsing Approxeh The etho% of the charity's fundraising is that fundraising acttvi¢ies musi retlect the charity's value5 and should be carried out in a martner thai the public and supporters would expeci ofRevelation TV- sensitive, courteou5. sincere and genuine. The charity does not use professional ndraising ag¢nci¢s su¢h as outbound telemarketing agencies or face io face I street fundraising agencies 10 ndlse on their behalf. They do nol use a bureau to handle inbotsnd telephone donaiions and 10 call back people who have texted or otherwise contacted the charity lo donate. All fvndraising is done in-house by siaff and volunieer8. who work under the supervision of the managemeTrl tearn. Viewer generosity coniiTJues io enable the TV to mee¢ all its obltgation8 without significani cui-backs. Since the beginning of 2022 advertisemenis for a free will Service for legacies to the Revelation Fout]dation have been rnade and are being shown on Revelation TV. Fundrxlslng Standards GDPR is exercised in all administration matters affecting donors and supporters who contact the charity- Supporter8. and the charitable giving public, are the life-bloiml of the chariry, and the relationship with supporters is so iMporlIt. The ethos of fundrai8ing Js principally baed on what the Iru5tee5 consider is fair, ethieal and appropriate to ask for. The corporaie values of integrity, accountability. compa8sion and re5pecl are not only at the heartof the clwiiy'8 mission as a Chrisltan television slation and charity but are also the driving forces for the way in which fundrdising 15 done for the charity. Fundrsising on Our Behalf No external people or organisaiions are engaged in fundrnising on behalf of The Revelation Foundaiion. Moniiorlng of Fundral$ln8 li 18 part of the trustee% and management team brief to Jrview the approach 10 fundraising and to seek to be sensiiive in ¢he approach taken to raie funds. The lack of complaints is tsken a8 a sign ihai the right approach is being iaken. COMPLAINTS There were no recorded complaint8 from members tsf the public to the fundraising methods adopted by Revelation TV in 2023. If a cornplainl was received there is a complaints policy in place outlining the correct procedure lo take to deal with the complaini. PROTECTING VULNERABLE PEOPLE Because no external or 'professional' fundraisers are used to fundiaise on the charity'5 behalf, the tNstees are very much in control of how fundraising appeals are ¢arried out.
Revelation Foundation ort of the Trustees for the Year Ended 31 December 20 PLANS FOR FL.TURE Revelation Foundation continues to gain rnomentum with 5UPPOrters being able to acce$8 Chrisiian programming 24 hours a day. Work is being done, particularly through social media and improvements, to reach our to a wider audience. AS 2022 ended. Revelaiion was makin¥ plans for its 20 Annivew in February 2023. A book on the history of Revelation Tv's firsi 20 years was WTittt and published under the litle of 'Broadcastii]g Christ.. As HTitten elsewhere in this report, the official opening of the Revelation Internaiional Centre was in April 2023 in Spain. FINANCIAL REVIEW Revelation Foundaiion is pleased io receive funding from many individuals and organizaiions. Rebources have been expended on the con(inued running of the leVision channel and progrdmme production, which has enabled the Foundation to Continue the advancement of Chri81ianity. Overall. the charity has experienced a good year and 819 thai this will continue in fuwre years. RESERVES POLICY Total group funds at 31 Decemb¢r 2023 were £6,246,079 of which £3,854,267 were resiricied funds. As a charity, the trnstees have an a¥reed reserve policy. This relates to ndS that the trustees cot]$ider it necessary to retain, io enable future invoice%, contracts. staff wages, ete. 10 be paid. The amount the trustees currently are holding in reserve as £500.0. The reytricted fund primarily consists of the building fund of £3,582,419 which has been used to fund the conStCtion of the Rewelaiion Intemational Cenire included in tsngible at¢S ai a cost of £5.279.735. The remainder ha5 been funded by UWGStricred reserves. STATEMENT OF TRUSTEES REsPo51B1LTr1Es The uus¢ees {who are also the directors of Revelation Foundaiion for the PLW)oses of company lawl bre responsible for PTeparing the Report of ihe TTus¢eeq and the financial siaiemenrs in accordance with applicable law and United Kingdom Accouniing Standards (United Kingdom Generally Accepred A¢¢ouniing Praciicel. Company law r¢quire% the trust¢es io prepare fJnan¢ial stsiemenis for each fJnan¢ial period which give a true and fair vtew of Ihe State of affairs of the charitable co]npany and group and of the incotning resources and applicarion of resourccs. including the income and expenditure. of the group for that period. In preparing those financial staieinents. the tN8tee8 are required to Select suitable accounting wlicies and then apply them ¢onsistently- Observe the method8 and prin¢iples in the Chariiy SORP,. Make judgements and estimates thai are reasonable and prudeni.. Prepare the financial sthiemenis on ihe going concern basis unless it is inappropriate tg presume that the ¢hariiable company will coniinue in business. The trusiee8 are responsRbl¢ for keeping proper a¢couniing records which disclose with reasonable accuracy at any time the financial po.%iiion of th¢ charitable ¢ompany and the group 10 enable them to ensure th81 the financial statements comply with the Companies A¢1 2006. They are olso responsible for safeguarding the assets of the Charlb]e company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as ihe trusiees are aware, Ihere is no relevani infomation las defined by SectioJ] 418 of the Companies Aci 20061 of which Ihe audiiors are unaware, and each irnstee has taken all the sieps thai they ought to have taken as a trustee in (Frder io make them aware of any audil infomiation and io esthblish that the chariiable company's audiiors are aware of that tnfornialton.
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Independeut Audltor's Report to the Members #nd Trustees of Revelation Foundatlon Opinion We have audited the financial SlementS of Revelation Foundation (th¢ 'pareni charitable company'} and its subsidiary (th¢ 'uroup') for th¢ y¢arended 31 December 2023 whtch comprise the Group Ststement of Financial Activitl¢8, the Group and the Parent Charitable C(Trmpony Balance Sheets. the Group Cash Flow Statement and notes to the financial staiements, includin¥ a surnmary of significani accounting policies. The financial reporting framework thai has been applied in iheir preparation is applicablt law and Uniied Kingdom Accounting Standards. including Financial Reportitjg StandaTd 102 The Financiai Reporting Standard applicable in ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praeitce). In our opinion the financ1 statements.. give a tlue and faRr vtew of the state of the group's and parent charithble compeny's affair8 as at 31 Deeember 2023, and of the group's incoming resources and application of resources, including its income and expendiwre. for the r then ended,. have been properly prepared in accordat]ce with United Kingdom Generally Accepted AccountinB Practice., and have been pr¢pared in a¢¢ordan¢e wilh the requirementg of the Companies Act 2006 and the Charitie5 Act 2011. Basls for oplnlon We conducied our audit in accordance with International Standards on Auditing {UK) {ISAs (UK)) and applicable law. Ourresponsibilities underthose standards ar¢ rtherdenbed in the Auditor's responsibilities for the audit of the financial siaiements. section of our report. We are independent of the group and parent chari¢ablc company in accordance with the ethical requtrements thai are relevant to our audit of the fmancial siaiernents in the UK, including the FRC'S Ethical Swidard, and we have lfIlled our other ethical re8ponsibililies in accordance with rhese requiTements. We believe that the audil evid¢nce we have obtained is sufficient and appropriate to provide a basis for our opinion. Contlu5ioDs relating to golng concer In auditing the financial statements. we have concluded thai the trUseS, use of the going concern basis of accounting in the preparation of the fancial stat¢m¢nts is appropriaie. Based on the work we have perforn]ed. we hav¢ not identified any material uneertainties relating io events 01 conditions thai, individually or colleciively, rnay cast significoni doubt on ihe group's or parent charitable company's ability to ¢on¢inue as a going concem for a period of at leasi twelve months from when ihe financial statemen18 are authorised for iS5U¢. Our respOnsbIlli1es and the responsibiliiies of the irustees wtth reSpt to going concern are described in the relevant sections of this report. Other informatlOD The other infomiation cornprises the infonnation in¢luded in the Thsiees annual repon , other than the financial statements and our auditor's report ihereon. The Iru5tees are responsible for the other inforn]ation contained within the annual report. OUT opinion on ihe financial statelnents doe5 not col'er the other inforn)aiion and, except 10 the extent othenvise explicitly stated in our report, we do not expres5 any fomi of assurance cgnclusion thereon. Our responsibility is to read the other inforniation and, in doing so, ¢onsider whether the other infottnalion is malerially inconsisieni wilh the fUicial statements or our knowled8e obtained in the course of the audil or otherwise appeats to be materially miss¢aied. If we identify such material inconsistencies or apparent material misstatements, we are required to delern)ine whether this gives to a mateiial misstatemenl in the fancial Statements ihemselves. If, based on the work we have perforn]ed, we conclude ihat Ihere 14 a material mi5Statemenl of this other inforniation, we are required to repon thai fact.
Independent Audltor's RepoT¢ to ibe Members and Trustees of RevelAilon Follnd4tio OplnloDS OD Other m#tter$ prescribed by the Companles Act 2006 In our opinton, based on the work undenaken in the coutse of the audit.. the inforniation given in the trustees. report {tn¢oJporaling the directors. report) for the financial year for which the financial statements are prepared is consistent with the financial staiements: and the uustees, report has been prepared in accordance with applicable legal requirements. Matters which we are requlred to report by exeeptlo In the light of our knowledge and understaT]ding of the group and pareni ehariiable Company and its environmeni obtained in the course of the audit, we have noi identified material fftisstatements in the directors, repon. We have noihing to report in respeci of the following Tnatter5 in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion.. adequale and 5uffJcient a¢couniing records have not been kept by the par¢nl charitable company, OT returns adequate for our audit have not been received from branches not visited by us., or the parent charitable cornpony's financial stsiements are not tn agreement with th¢ accouniing records and returns,. or certain disclosures of directors. remuneration specified by law are noi made: or we have noi received all the infornjation and explanations we require for our audit: or the tsu81ees were not entltled io prepare the fUnCEal stat¢meni$ in accordance with the small companies, regime and take advanLgge of the small Companies. exemptions in preparing the dir¢¢tors' repon and from the requiremeni ¢0 prepare a strdiegic repon. Responsibilities of trustees As explained tnore fully in the lrnslees, responsibiliiies siaiemeni Sei oul on page 5. the trustees (who are also the director5 of the parent charitable company for the purposes of company lawl are responsible for the preparation of the financial siatements and for being sallsfied that they give a true and fair view. and for su¢h intemal control as the Slee$ detemiinc 18 necessary io enable the preparation of financtal statemenis ihat are free from material misstatement, whetherdue to fraud or error. In preparing the finaneial statement8, Ihe trnstees are responsible for assessing the group's and parent chaTitsble ¢(Trmpany's Ability to continue as a going ¢on¢ern, disclosing. as applicable. rnallers related to going concern and using the going concern basis of accountin8 unles8 ihe I$(Ce8 eiiher intend liquidate the group or the parent charitable cojnpany or io cea8e operations. or have no realLSlj¢ altemalive but io do so. Auditor's responslbllities for tbe audit Df the fiDAnrial statements We have b¢en appoinied auditor under the Cornpanie5 Act 2006 and report in accordance with this Act. Our objectives are to obthin reasot)able assurance ai%)ut whether the financial statements as a whole ate free from maierial misstalemeni, whether due to fraud orerror. and to issue an auditor's repom that includes ouropinion. Reasonable assurance is a high level of assurance, bui is noi a guaraniee that an audii conducted in accordance with ISAS IUKI will alway.% deieci material mis*tatemenl when tt exists. Missialement% can arise from fraud or error and are ¢onsidered material if. individually or Ln the aggregate. they could reasonably be expecied to influence the economic decisions of users taken o the ba8is of Ihese ftnancial siatetnent4.
IDdependent Aditor'S Report to the Meynbers and Trustees of Revelatlon FoundatlOD Auditor's responsibilities for tbe audit of tbe financial statement51contlnued) Irre8ulaTities. including frdud, are Enstances of non-compliance with laws and regulatEons. W¢ design procedures in line with our responsibilities, outlined above, io detect rnaierial mi88iatemenis it] respect of IgUlaritIes, including fraud. The extent lo which our procedures are capable of deiecling irregulariiies. including fraud is detailed b¢low Based on our understandinbj of the charity and industry, we id¢niified th¢ principal risks of non-compliance with laws at]d regulaiions. We alsoobtained an understanding of the legal and regulatory frameworks thai the charity operaies in, focusing on those that had a direct efyect on material figures and disclosures in the financial siaiements.. the main regulaiions considered in thES context included the Cornpankes Act 2006, Chariiies Act 2011, FRS 102 and Charity SORTr. We evaluated the in¢entives and oprtUnitieS for fraud in the financial staternenls. including, bui tjot limited to. the risk of override of controls, and designed procedures in response lo these risks as follows.. enquiring of management ¢on¢eming a¢tual and poiential liligation and claims- perfonning analytical procedures 10 identify any unusual or unexpecied relation8hip$ that may indicate risLs of material rnisstaiemeni due to fraud; testing Ihe appropriateness of journal entrie8 and other adjustments., assessing whether the judgernents made in making accouniing estimaies were indicative of a poieniial bias: and evaluating the business rdlionale of any signifi¢ant transactions that were unusual or outside the norn]al course of busittes5. We also communicated relevant idenlified laws and regulations and potential fraud risks io all ellgagemeni ieam members. and remained alert to any indicaiions of fraud or non-COTnpliance wath laws and regulations throughout the audir. Because of ihe inheren¢ limitations of an audit, there is a risk that we will not detect all irregularities, including those leading lo a moterial missthiemenl in the financial sthtemen15 or non-compliance with regulaiion. This risk increase8 the more that complian¢e with a law or regulation is removed from the events and transa¢tions reflected in the financial statements, as we will be less likely lo be¢ome aware of insthnces of non4ompliance. The risk is olso greater regarding irregularities occurring due to fraud rather than error, a$ fraud involves intentional conce4lment. forgery. collusion. omission or misrepresentalion. A further descriplion of our Teswnsibililies for the audit of the financial $¢atements is located oll the Finan¢ial Reponing Council's websitc al.. www.frc.org.uLlauditorsresponsibilities. This des¢riplioD fom)s part of our auditor's rekX)n. Use of our report This report is made qolely lo the parent charitable company'5 members. as a body. in ac¢ordance with Chapter 3 of Part 16 of the Companies Aci 2006 and io Ihe charitsble parent roinpany's Irustees, as a body, in accordance with Part 4 of th¢ Charities (Accounis and Reportsl Regulations 2008. Our audil wtsrk ha5 been undertaken so that we might State to the parent charitable company's members and ils tnjstees those matiers we are required to State to thern in an audiior's report and for no other purpose. To the fullesl exteni perniitled by law, we do not accept 01 assurne responsibility io anyone other than the parent charitable company and the pareni charitable eompany's memberg as a body and the pareni charitable company's trnstee5 as a body. for our audit work, for this report, or for the opinions we have fortlled. Alex Temlett CA ACA CT A (Senior Siawtory Audiiorl For and on behalf of Azets Audit Services Limited Stswtory Auditor8 & Chartered Accountants A8hcombe Court Woolsack Way Godalming Surrey GU7 ILQ 25 September 2024 Dale
Rei'elation Foundation isiered Com Number.. 049301 tarement of Financial Actiwties nded 31 December 2023 2023 UDregtric¢ed Fund$ 2023 Restricied Funds 2023 Totsl Fun(ts 2022 Total Funds Notrs INCOlE AND ENDOWMENTS FROM: Donatit)tL% #nd legaci¢5 Other trading activities Income from investtnents 1.766,881 75,306 14,535 1.781,416 75,306 1,962,101 100.084 Totsl In¢ome *nd ¢ndowmenty EXPENDITURE ON: ExpendIre on raising fiinds Expendire on charitable acttvities Expenditt]re on governance 28,850 1,729.048 5,722 34,572 1.729.048 55 37.396 1,978,577 Total ¢xpendityre 1.824.451 5.722 1,830,173 2.068.555 NET INCOMDILOSSI 22.295 8.813 31.108 16.3181 Transfer between funds 16 84,470 (84.4701 Other recognised Ilosse4)Igains Unrealised foreign exchange N¢¢ movement in fiJnds 115.474) (75,657) 191.131) 245,432 RECONCILIATION OF FUNDS Total funds brought fonyard 2 677 286 TOTAL FifNDS CARRIED FORWARD 10
Re -W151cred C otii anN Ntiinber.. (14l).l()1 ?9 LEnLiliin(I dnd Il'alL'5 Ai 31 Ik'LLmber 102.7 ( iroup (Jroup C-harli C'hdrii FIX F.1) A%"%F.TS I dngible 5 787.1{1 S.434.41Jll 7.367 S J?7,123 311.884 70?.911 $ 7¥7.1{1• $414400 5 .384.49U 713 7114 ('IIRRF.NI A%%FT l)Lbiors -114 919 9(10. 10 I 331.810 9811.i()fi 6011.4.17 4.98.; 964 161 1 *7S ?2 .41?644 %.948.?S j C"RF.ITrII'IIR 14 Li1_6.743) 561:79VJ NF.T C'I',RRF.NT AS+ifr.TS 958 Y77 90? 810 115U 854 .$.66 NF.T A%SF.I'.Tr¥ b,?40,1179 6,337,? lu 0.?35 .744 6, j4)7,570 Fl'NI)S ? fi61.81 ? ?.677.286 3.6SC).9?4 ?,h$1.077 3.5¥4.167 ? 777 fi46 3.fi59.())4 TI)TAI. frIINI) 6.?4ts.u7Y 6..1.I7.?lU 1).?3) 344 6.31)7.$711
Revelation Foun tion Re istered Com an Cash flow, statement for the Year Ended 31 Dece 2023 Group 2022 Group Cash tlow from operatlD8 a¢tlv115e$: Net ¢ah proi'ided by operatittg activities Cash now from InvestlThg aetli'ltles: Purchase of property. plani And equipment 130.8871 549,662 70 32 Change ID cmsh and cash eqvlvalents In the reporting period Ca$h #nd ¢a$h equivalents At the beglnning of the reporting perlod Ca$h 4nd cash equlvalettts at the end of the reportln8 perlod {20.065) 1158.661) 1 139027 980 366 Reconelllation of net Income to llet easb flow from op¢ratiDg •¢¢ivili¢s: Net Income for reporting perlod (as per the statement of fln%ncll actlvltles) Deprttiation Charges Deerease in debtors (Decreasel.'Increatse in creditors Net tash {used In)Iproi'lded by operatln8 •¢tiYitle 16.934 28.411 16.891 123 245,432 30.923 47.023 226 284 12
Revelacion Foundauon Notes to the Financial Siatements for the Year Ended 31 December 2023 ACCOUNTING POLICIES Revelation Foundation i.s o private company limited by guarantee. incoor2ttd in England and Wales. The registered oifi¢e is Ashfields. 129 Preyibury Road, Ma¢clesfield, Che8hire, SKIO 3DA. The principal otrice address is Calle Arcaduces 2, Pol. Ind La Cala de Mijas, 29649 L4 Cala de Mijas, Mijas Costs. Malaga. Spain. The nature of the chaniy's operdtions is sei oui in the Report of the Twste¢s. The TV station's main base is in Spain and the day to day editorial and management decisions are taken there by the leadershfftp team, und¢T the direciion of the tNsiees. The TV ststion also opernte8 a $mall Studio and office in conllnercial premises in the London area. The lease for these premises was Signed in July 2017 and the premises beeame operational in Jynuary 2022. Accountlng eonventlo The financial 8iaien]ents Of the charitable company, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accouniing and Reporting by Charitie5.' Stalemeni of Re¢oTnmended Praciice applicable 10 charities preparing their accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland IFRS 1021 (published in October 20I91', Financial Reporting Standard 102 'The Financial Reponing Standard applicable in the UK and Republic of Ireland,, the Charities Aci and the Companies Aci 2006. The financial.gtaternents have been prepared under the historical cost conventi¢)n. Group nnanclal statements The financial sthiemet]ts consolidate the results of the charity and ils wholly owned sub8idiaries (see note 12}. A separate Statemeni of Finoncial Activities foi the charity itself is not presented becouse the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006. The ac¢ounts of Genesis 247 SL have been ¢onqolidaied within these figures at 31 December 2023. Income All incorning resour¢e8 ore included on the Sthtement of FiTtancial Activities when the chariiy is legally entktled to the incorne and the arnouni can be quaniified with rea8onable accuracy. The charity also benefi18 from voluntttr time frorn IL founderand others. li is not PO%8ible io pla¢e a value on this time therefore this Is not included in the StateTnenl of Financial Activities. Expenditure Expenditure is accounted for on an acctuals basis and ha5 been classified under headings thai aggregate all cost related to the category. Where costs cannot be directly attributed io panicular headings they have b¢¢n allated to actlvities on a basis consistent with the use of resources. T#nglble flxed assets Depreciation is provided at the following annu&l rat¢s in order to write off each assei over Rt5 e5timaied useful life. Plant and tnachinery etc. Land and buildings 16.7•/u and 33¥J/fj on cost 20/0 on ¢osi Inve5tment8 Invesimeni8 represeni investments in subsidiary undertakÈngs. which are measured at cosi less any pernlanenl irnpairnient. Foreign CvrrencSes Assets and liabilities in foreign currencies are tianslaled into sterling at the rates of exchange ruling at the balance she¢t date. Transactions in foreign currencies are translated inio bteilingj al the rale of exchange njling ai (he dale of transaction. Exchange differences are taken into a¢¢ouni in arriving ai the operating result. Taxation The charity is exempl from corporation tax on its charitable activities. Irrecoverable VAT The trTe¢overable V AT on expetJdiNre is shown separately in the noles to the Statemeni of Financial Activities.
Revelation F un Notes io the Financial Statemenls- Colltinu for ihe Year Ended 31 December 2023 Operatlng leases Rentals paid under operdting leases are charged to incorne and expenditure as incurred. Fund accountlng Unrestyj¢d funds can be used in accordance with the charitable objectives at the di.re¢lOn of the trnste. Re.%tri¢[ fvnds can only be used forparticular restricted purposes within the ObJecL of the charity. Restrictii>ns aris¢ when specified by ihe donor or when funds are raised for particular restricted purpose$. Further explanaiion of the nawre and pujpose of each fijnd is included the notes to the financial statements. Gtslllg eoDeern The financial staternents have been prepared on A going concern basis as the Trnstees believe that no material uncertainties exisi. The Trnste& have ¢ornldered the level of funds held and the expected level of income and expenditure foT the 12 months frorn authoristng these financial staiements. The budgeted income and expenditure is sufficieni with the level of reserves for the ¢harity to b¢ abl¢ to continue as a going Coem. Debtors Shon ierni debiors are measured at transaction value l¢ss any irnpairnient. At each balance sheet date. debt0 are os8e58ed for objeciive evidence of impaiTmenl. If an asset ES impaired, the impairnient lo&$ is measured as the difference beiween the Carrying amouni and the amount expected to be received. Crtdittyrs Short lerni trade ¢reditors are measured ai transaciion value. Other financial liabilities are measured initially at fair value. el of transaction costs. and 8ubqequently ai amorttsed cost using the effective interest rnethod. Critle*l aceounting judgements and key sources of e$tlm8tion uncertalnty No significant judgen]enls have been made by the Tru8tee8 in preparing these financial statements. DONATIONS AND LEGACIES Unrestricted Fullds R¢stri¢ied Funds Total FLmds 2023 Total Funds 2022 Donalions received from supporters Legacies Tax repayable 1,479,934 122.782 10,867 1.490,801 122,782 16 833 ,719,814 15,389 226 898 2022 Funds allocation.. Of the £1,719,814 donaiions ¢¢iVed from SUPPK)rters £1,691,343 wa5 unrestricted and £28,471 was restricted. Of the £15,389 legacies received from 5UPtX)rter5 all wa5 ullTestricted. Of the £226,898 tax repayable £220,51 I was unresiricted and £6.387 was restricted. OTHER TRADING ACTIVITIES Unrestricted and Total Funds 2023 Unresrricied and Total Funds 2022 Hire of equipmentluse of platfomi 75 14
Revelaiion Foundation Note% to the Financial Siatemeniq- continued for the Year Ended 31 December 2023 INCOME FROM INVESTMENTS Unr¢stricted Fund5 Restricted Funds Total Fund 2023 Total Funds 2022 Deposit account interest and dividends received 52 2022 Fund allocauon= Of the £52 income from investments received £NIL was restricted and £52 unrestricted. EXPENDITURE ON RAISING FUNDS Unresiricied Funds Restricied Funds Total Funds 2023 Total Funds 2022 Consultancy costs Postage, prinlill8 & stationery 4,569 2.253 6.822 10,865 531 28,850 5,722 34.572 37.396 2022 Funds. allocation.. Of Ihe £37.396 expendittwe on raising fvndg £23.526 was unrestricted and £13,870 was resrri¢ied. EXPENDITURE ON CHARITABLE ACTIVITIES Unre8tricted and To¢al Fun(Lq 2022 Unrestricted Fun(ts Total Funds. 2023 Wages Saielliie. broadcasting and other direct costs Premibeb cosi4 Equipmeni maintenaDce Trdvel and subsistence Computer expenses Consultancy costs Subscriptions Advertising Sundry expenses Postage, prin¢ing & siationery Staff welfare Telephone Donations Irrecoverable VAT and other thxes Depreciation In%urance 427,560 501.368 273,365 905 42.588 49,626 115,764 11.875 2.804 27.895 45.111 1,458 37.494 26.541 10,612 136,476 427,560 501.J68 273.365 905 42.588 49.626 15.764 11,875 2.804 27,895 45.111 1.458 37,494 26,541 10.612 28,411 159,750 143.326 184,707 4.565 23,609 23,410 108,958 12.675 6.499 26,594 1.299 19.475 1,173.087 43.899 30.923 1729,048 197_8J77
Revelation F Notes io the Financial Sta for the Year Ended 31 Decern r202 EXPENDITURE 015 GOvERNcE Unrestricted and Unret*tricl¢d and Total Funds. Total Funds 2023 2022 Professional fees Legal fee$ Auditors. remuneration Interest payable and similar charges 31.167 3.204 16,300 15 25.115 6.525 I l.O(K) S2 INCOMEIEXPEI%DITURE IncomelExpenditure 1$ stated afier charging.. Totsl Funds 2023 Totsl Funds 2022 Audiiors, remuneration Depreciaiion- owmed assets 16.31J) 11.000 TRUSTEES. REMiyNERATION AND BENEFITS There w¢r¢ no tTUSt¢es' remuneration orotherbenefiis for the year end¢d 31 Dernber 2023 and nor for th¢ previous period. Trustees, Expenses Travel expense$ amounting to £7.254 w¢re reimbursed to 3 tNstees131 December 2022 - £4.959- 4 tNsteesl. io. STAFF COSTS 2023 2022 Wage8 and salari 427 There We no sthff earning more than £60,0(MJ. Revelatton Aqsociation proi'ide and pay Staff who work for Revelaiion Foundation. The cost is £Nil12022 - £250.384). The key management personnel of the Charity are considered to be the Trnqiees who re¢¢ive no rernuneraiion. The average number of employtts analysed by funclion was as follows- 2023 2022 Charitable sen'iceg Fundraisin8,'Admin 13 16
Revelation Foundaiion ancial SiaiemenL$- coniinued nded 31 December 2023 TANCIBLE FIXED ASSETS Freehold land nd buildlngs StudS0, ¢•merA #nd eornputer equlpmetht Tot*1 Group COST At l January 2023 Addiiions Foreign exchange movements Ai 31 December 2023 5,403.516 91.154 1,076.293 4.894 6.479.809 96.048 106 870 6.468.987 DEPRECIATIOI Ai l January ?013 Charge for the year 1.045,409 1,045,409 136,476 Ai 31 December 2023 1073 820 1,318.361 NET BOOK VALUE At 31 December 2023 5.287,102 At 31 DecembeT 2022 5,434 400 Studlo. eamera •nd tomputer equlpmetti Tol41 Charlty COST Ai l January 2023 Additions 964,196 964,196 4,894 At 31 De¢ember 2023 969.090 969.090 DEPRECIATION At l January 2023 Charge foryear 933,312 28.411 933.312 28.411 Ai 31 December 2023 961.723 961.723 ET BOOK I'ALUE Ai 31 Decembei 20!3 7.367 7.367 At 31 December 2022 30,884 30,884
Revelation F nd ti Notes to the Financial Statements- for the Year Ended 31 DeLem er 202 ntin 12. FIXED ASSET INVESTMENTS Chlrltv Shares in group undenakings COST Ai l January 2023 702,911 Additions 4.074.211 At 31 December 2023 NET BOOK N'ALUE Ai 31 December 2023 5?_77 123 Ai 31 December 2022 702.91 k On 18 September 2023. Rei'elalion Foundaiion aCqUiTed additional share capital of £4.674.21 I IE5,431,5741 in its subsidiary Genesiq 247 SL. The compan$ invesimeniq at the balan¢e sheet d¥te in the share ¢apital of companies include the following.. Revelation Tl, (London) Llmlted CouniTI' of inCoOratiOn.. England and Wales Nawre of busine&s.' Dorniani Registered number.. 04572981 l¥ss of share.. Ordinary holdtng 100 2023 2022 Aggregaie of acL4, liabilities and ndS 18
Revelati Notes to the Financial Statements- cont for the Year Ended 31 December 2023 Genesls 247 SL Couniry of in¢orporaiion.' Spain Nathre of business: Christian TV chanrtel. Class of share: Ordinary holdin 100 2023 2022 AggreB¥te of assets, liabilities and fvnds Incorning resouwes 121969 Expenditure L)n charitable O¢1ivities Govemance c05t5 Total costs .145.871 365.405 Profib'lLossl for the year 62.4181 13. DEBTORS: AMOLFNTS FALLING DUE WITHIN ONE YEAR Group Charlty 2023 2022 2023 2022 Trade debtors Oiher debrors Tax recoverable Prepayments 60.732 201.808 27.157 25222 102.278 167.022 25,736 60,732 187.728 27.157 17.480 102.278 167.022 25.736 314919 331810 ?93,097 32J.91 AMOUNTS FALLING DUE AFTER ONE YEAR Group Cb4rlty 2023 2022 2023 2022 An)0UnL owed by group and associated undenakings 07 4659 181 307 340 4.659 181 19
Notes to ihe Financial Siaiements- eo for the Year Ended 31 Deeernber 2023 14. CREDITORS: AMOUNTS FALLING DUE M'ITHIN ONE YEAR Group Charity 2023 2022 2023 2022 Trade creditor Social security and other tsxes Other ¢rediior 39,022 40,071 46,9?2 322,373 13,806 249.807 12,979 21.692 277.221 547 924 316243 409,366 561790 284 478 15. MOVEMENT I, FUI%DS- UNRESTRICTED Group Unrestrl¢ted fund$ AtOI.01.23 Net movement in funds At31.12.23 General fvnd Nei movement in funds. included in the above are as follows". Incoming resources Resour¢es expended Tr¥nsfeTS Foreign currency translation Movement in fiLnd5 Unrestrl¢ted fund$ General fund Ch*rlty: AtOI.01.23 Net movement in fijnds AE31.12.23 Unrestrlcted fundy General fijnd 2 737.04.6 69J L77 Net movement iti funds. included in ihe above are as folloNB'. Incoming resources Resources expended TraNfer¥ Movem¢ni in funds Unre5trlcted funds General fund oi LB4.47QJ L8IS_&9.) 20
tion Foulldaiion tat L$- CODiinu ber 2023 io. MOVEIIIENT I}¥ FUNDS- RESTRICTED Group and ehrlry Nel movement in funds Ai 01.01.23 At31.12.23 Restrlcted Building nd Compassion Rwanda Total Tesiricied fimds 3,658.076 {75,6571 3,582.419 Net movement in llds, included in the Bbove are 4$ follows.. Incornin¥ resources Jn¢omin8 Tesources Transfers Movement in fvnds Restrleted funds Building Fund Total resiricied fvnds 722 The Buildin8 Fund is a lld set up to acquire land and build a new sdI0. The transfer is in relation io the reqtricted elemeni of depreciation on the building. 17. ANALYSIS OF I¥ET ASSETS BETWEEN FUNDS Group Unreslri¢t¢d Funds Restricied Funds Total Fund5 2023 Tangible fixed assets Current assets Cash ai bank Current Itabililies 1.704,683 314.919 958.453 316 243 3.582.419 5.287.102 314.919 960.301 1.848 Chrlty Unrestticied Furtds Restricted Fund Total Fund$ 2023 Tangible fixed assets Investtnents Curreni assets Cash at bank Current liabilities 7,367 1.794.704 600,437 810,359 7,367 5,377,123 600,437 812,207 3.582,419 ,848 21
Revelation Foundaiion Notes to the Financial Stsiemenls- continued ortheye Ended J l December 2023 RELATED PARTY DISCLOSURES 21Y Centhry Television Limited la company in which Lesley Conder, a trustee, is a rnajor shareholdcr) was invoiced by the Clwity £75,306 {2022.. £100,084) in re8peci of broadcasting COSLS. £60.73212022.. £102.2781 was owed at the year end and 18 included in trade debtOTS. Luke Condei {son of L£sley Conder o trnstee) was paid £39,99612022.. £39.1671 for the provi.8ion of cortsultancy services. Park 3D Limited (a Company under th¢ c(mtrol of Jeremy Park - brother in law of L£sley Conder a itusteel was paid 8,501 (2022.. £6,378) for the provi%ion of consultancy service8. The balance owed by Revelation TV SL is £155.706 (2022.- £155.706) and is included in other debtors. DuTing the year, donations totalling £Nil12022.. £1.157,3421 were paid to Revelaiion Association, a charity connected by stees in comn)on. The balance due to Revelation Association was £255,97512022'. owe4J £4,209) and this is included in other credit¢)TS (2022.. debiors). 19. FINANCIAL PERFORMANCE OF THE CHAIUTY The co011datcd statement of financial activities includeq the resulis of the charity's wholly owned sub$idiaries (see note 12). The financial perforniance for the Charity alone is.'- Unre%tri¢ied Resiricied Total Funds 2023 Total Fund* 2022 Incoming Teserves 1843 262 14 1857 797 2 062 237 Costs of generdttng Yoluntary income Expenditure on charitable activities Governance costs 28.850 1.807.340 5.722 34,572 1,807,340 37,396 1,942,320 187574 1 88146 2 020 090 Other gaIn(lO$se8) 138 558 138 558 232 053 Net incoming resources (171.0391 8,813 1162.2261 274.200 Total fimds brought forward 2 737 646 3 659 924 Total funds carried forward 397J71) 22
Revelatton Foundaiion cial Statements- continued 31 December 2023 for e Year 20. FINA,C1AL COMMITMENTS Leasing Comrnitments At 31 December 2023 the group had annual commitsnents undernon-cancellable q)erating lease5 as detsiled be14)W.'- Group Cbarlty 2023 2022 2023 2022 Operaiing leases uthich expire Within l year Betweetl l aTJd 5 yea 16.0(x) 32250 16,000 24 32,250 The ¢051 of Operatll kases during the year was £30,438 (2022.. £352501. 21. ULTIMATE CONTROLLING PARTY The irnstees ¢onsid¢r th¢re ¢0 trt no overall controlling party. 23