OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-12-31-accounts

REGISTERED COMPANY NUMBER: 04930129 (England and Wales) REGISTERED CHARITY NUMBER: 1100573

Report of the Trustees and Financial Statements for the Year Ended 31 December 2024 for Revelation Foundation

Dyke Yaxley Limited Registered Auditors 1 Brassey Road Old Potts Way Shrewsbury SY3 7FA

Revelation Foundation

Contents of the Financial Statements for the Year Ended 31 December 2024

Page
Report of the Trustees 1 to 6
Report of the Independent Auditors 7 to 9
Statement of Financial Activities 10
Balance Sheets 11
Cash Flow Statement 12
Notes to the Financial Statements 13 to 23

Revelation Foundation

Report of the Trustees for the Year Ended 31 December 2024

The trustees of the charity, who are also directors from a company law perspective, present their report with the financial statements of the charity for the year ended 31 December 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (published October 2019).

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

04930129 (England and Wales)

Registered Charity number 1100573

Registered office Ashfields 129 Prestbury Road Macclesfield Cheshire SK10 3DA

Trustees

I G Pettie J A Odell P A Darg – Resigned 22 April 2024 L Pettie L A Conder S J Jayakrishna A M Scott – Appointed 23 January 2025

Company Secretary I G Pettie

Chief Operating Officer

I G Pettie

Auditors

Dyke Yaxley Limited 1 Brassey Road Old Potts Way Shrewsbury SY3 7FA

Solicitors

Pearce Legal Limited 2 The Square Solihull West Midlands B91 3RB

Bankers

HSBC plc 1 Victoria Road Surbiton, Surrey KT6 4LF

1

Revelation Foundation

Report of the Trustees for the Year Ended 31 December 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Revelation Foundation was incorporated as a company limited by guarantee on 13 October 2003. It was registered as a charity on 6 November 2003.

Revelation Foundation has a wholly owned subsidiary, Genesis 247 SL, incorporated in Spain. Revelation Foundation and Genesis 247 SL are reported herein as the Group.

Recruitment and appointment of new trustees

The trustees, who are also directors for the purpose of company law, who served during the period of this report, are set out on page 1. There is a procedure for the recruitment and appointment of new trustees, namely that nominations are received in writing by the current trustees, who then discuss and vote upon any nominations received. New trustees are recognised and appointed by the current board in recognition of their contribution and value to the charity. A further independent trustee is being sought for the Board.

Induction and training of new trustees

All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charity's objectives and responsibilities.

Organisational structure

The trustees are responsible for the strategic direction and policy of the charity. Day to day responsibility is delegated to a leadership team of four, which consists of three trustees plus the founder, Howard Conder, who is not a Trustee.

Wider network

Revelation Foundation has set up two non-profit organisations, namely Revelation Association in Spain and Revelation TV Inc., in the United States. They have been established with the same purpose and function as the Revelation Foundation in the UK.

A number of trustees of the Revelation Foundation are also trustees of the Revelation Association and directors of Revelation TV Inc., 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 trustees consider that the charity is exposed to minimal risks and existing systems and procedures adequately manage such risks.

Public benefit

The trustees have had regard to the Charity Commission statement on public benefit, and particularly the specific guidance on charities for the advancement of religion. In this respect the trustees want to record that they have seen many lives changed through the Christian message being proclaimed across the television airwaves. During the year, by phone, text and email, as well as by personal visits to the studios, viewers have testified to the benefit of the messages heard on the TV station. Personal visitors to the studio are invited to share their story and spiritual journey. If they agree this is recorded with a view to showing on the channel at a future date.

2

Revelation Foundation

Report of the Trustees for the Year Ended 31 December 2024

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the charity are the advancement of Christianity in the United Kingdom and elsewhere by any means including the preaching and proclamation of the Christian Gospel and the teaching of Christian doctrines and principles and values. The trustees consider these objectives are being fulfilled through the programmes that are being made and broadcast on Revelation TV.

The TV station's main base is in the UK and the day-to-day editorial, and management decisions are taken there by the leadership team, under the direction of the trustees. The TV station has a purpose-built studio and offices in Spain and operates a studio and office in commercial premises in the London area.

Staffing and volunteers

During 2024, the majority of Revelation staff were based in Spain and paid through the Spanish Company, Genesis 247 SL, which is a subsidiary of the Revelation Foundation. During 2024, Revelation Foundation employed four staff in the UK. In addition, there were five paid consultants in the UK who worked as required for the TV station.

Significant activities

Building work on the Revelation International Centre in Spain began in 2017. The trustees decided when the building project started that the centre would be built without any debt, mortgage or bank borrowing. Through the grace of God, and the favour of supporters, that has been achieved. The effects of the global pandemic, and the political decisions on Brexit, caused a delay to the completion of the building. The Centre was completed in late 2022. The official Opening Ceremony, with viewers visiting the centre, was in the April of 2023. The property is owned by Genesis 247 SL, a Spanish company, wholly owned Revelation Foundation.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The trustees are encouraged by the extent of the charitable activities being achieved by Revelation Foundation.

Revelation TV is now available on the following platforms: Freeview HD, Sky, Freesat, Roku Box, Apple TV, the Revelation ‘app’, and the internet. The increase in ways that people can see and hear Revelation TV has enabled the message of salvation through Christ to reach more viewers. An example of this is the ‘Revelation app’ which enables viewers 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 media by the TV station is increasing.

The TV station operates under a Spanish licence. This licence is in the name of Revelation TV Europe SL, which is a Spanishbased company, wholly owned by the Revelation Association. The costs incurred by Revelation TV Europe SL and Revelation Association, in operating the TV station in Spain, are covered through grants made by the Revelation Foundation to the Revelation Association. The costs incurred by Genesis 247 SL, which is a subsidiary of Revelation Foundation, are invoiced on a monthly basis from Genesis 247 SL to Revelation Foundation. In addition, the Spanish broadcasting license, Revelation TV has an operative license in the UK with OFCOM.

3

Revelation Foundation

Report of the Trustees

for the Year Ended 31 December 2024

Internal and external factors

The trustees have made a full assessment of the internal and external factors that may affect these financial statements.

During the year, and since the year-end, the TV station has maintained output of programmes, 24 hours a day, seven days a week. Live programme output continues to increase to help viewers with their worries, concerns and spiritual needs.

FUNDRAISING

Our Fundraising Approach

The ethos of the charity’s fundraising is that fundraising activities must reflect the charity’s values and should be carried out in a manner that the public and supporters would expect of Revelation TV – sensitive, courteous, sincere and genuine.

The charity does not use professional fundraising agencies such as outbound telemarketing agencies or face to face / street fundraising agencies to fundraise on their behalf. They do not use a bureau to handle inbound telephone donations and to call back people who have texted or otherwise contacted the charity to donate. All fundraising is done in-house by staff and volunteers, who work under the supervision of the management team. Viewer generosity continues to enable the TV to meet all its obligations without significant cut-backs.

Since the beginning of 2023 advertisements for a free will service for legacies to the Revelation Foundation have been made and are being shown on Revelation TV.

Fundraising Standards

GDPR is exercised in all administration matters affecting donors and supporters who contact the charity.

Supporters, and the charitable giving public, are the life-blood of the charity, and the relationship with supporters is so important. The ethos of fundraising is principally based on what the trustees consider is fair, ethical and appropriate to ask for. The corporate values of integrity, accountability, compassion and respect are not only at the heart of the charity’s mission as a Christian television station and charity but are also the driving forces for the way in which fundraising is done for the charity.

Fundraising on Our Behalf

No external people or organisations are engaged in fundraising on behalf of The Revelation Foundation.

Monitoring of Fundraising

It is part of the trustees and management team brief to review the approach to fundraising and to seek to be sensitive in the approach taken to raise funds. The lack of complaints is taken as a sign that the right approach is being taken.

COMPLAINTS

There were no recorded complaints from members of the public to the fundraising methods adopted by Revelation TV in 2024. If a complaint was received there is a complaints policy in place outlining the correct procedure to take to deal with the complaint.

PROTECTING VULNERABLE PEOPLE

Because no external or ‘professional’ fundraisers are used to fundraise on the charity’s behalf, the trustees are very much in control of how fundraising appeals are carried out.

4

Revelation Foundation

Report of the Trustees

for the Year Ended 31 December 2024

PLANS FOR FUTURE

Revelation Foundation continues to gain momentum with supporters being able to access Christian programming 24 hours a day. Work is being done, particularly through social media and improvements, to reach out to a wider audience.

FINANCIAL REVIEW

Revelation Foundation is pleased to receive funding from many individuals and organizations. Resources have been expended on the continued running of the television channel and programme production, which has enabled the Foundation to continue the advancement of Christianity. Overall, the charity has experienced a good year and trusts that this will continue in future years.

RESERVES POLICY

Total group funds at 31 December 2024 were £6,164,133 of which £3,553,447 were restricted funds. As a charity, the trustees have an agreed reserve policy. This relates to funds that the trustees consider it necessary to retain, to enable future invoices, contracts, staff wages, etc. to be paid. The amount the trustees currently are holding in reserve is £500,000. The restricted fund primarily consists of the building fund of £3,551,599 which has been used to fund the construction of the Revelation International Centre included in tangible assets at a cost of £4,986,801. The remainder has been funded by unrestricted reserves.

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees (who are also the directors of Revelation Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company and group and of the incoming resources and application of resources, including the income and expenditure, of the group for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and the group to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable 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 the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audit information and to establish that the charitable company`s auditors are aware of that information.

5

Revelation Foundation

Report of the Trustees for the Year Ended 31 December 2024

AUDITORS

Dyke Yaxley Limited are the auditors and they have expressed their willingness to continue in that capacity.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities and in accordance with the Chapter 6 part 16 of the Companies Act 2006.

ON BEHALF OF THE BOARD :

............................................. I G Pettie - Trustee

Date: 29th September 2025

6

Independent Auditor’s Report to the Members and Trustees of Revelation Foundation

Opinion

We have audited the financial statements of Revelation Foundation (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 December 2024 which comprise the Group Statement of Financial Activities, the Group and the Parent Charitable Company Balance Sheets, the Group Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

7

Independent Auditor’s Report to the Members and Trustees of Revelation Foundation

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 5, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made of having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

8

Independent Auditor’s Report to the Members and Trustees of Revelation Foundation

Auditor’s responsibilities for the audit of the financial statements (continued)

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below

Based on our understanding of the charity and industry, we identified the principal risks of non-compliance with laws and regulations. We also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on those that had a direct effect on material figures and disclosures in the financial statements, the main regulations considered in this context included the Companies Act 2006, Charities Act 2011, FRS 102 and Charity SORP together with UK and Spanish broadcasting regulations.

We evaluated the incentives and opportunities for fraud in the financial statements, including, but not limited to, the risk of override of controls, and designed procedures in response to these risks as follows;

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We did not identify any matters relating to irregularities, including fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the parent charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable parent company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the parent charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charitable company and the parent charitable company’s members as a body and the parent charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

……………………………………… Stacey Lea FCA (Senior Statutory Auditor) For and on behalf of Dyke Yaxley Limited Statutory Auditors & Chartered Accountants Registered Auditors 1 Brassey Road Old Potts Way Shrewsbury SY3 7FA 29/09/2025 Date …………………………..

9

Revelation Foundation

Registered Company Number: 04960129 (England and Wales) Consolidated Statement of Financial Activities for the Year Ended 31 December 2023

2024
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS
FROM:
Donations and legacies
2
1,872,588
Other trading activities
3
52,702
Income from investments
4
2,793
Total income and endowments
1,928,083
EXPENDITURE ON:
Expenditure on raising funds
23,010
Expenditure on charitable activities
1,733,456
Expenditure on governance
69,424
Total expenditure
1,825,890
NET INCOME
102,193
Foreign exchange translation of
subsidiary
-
Transfer between funds
16
56,917
Other recognised losses/gains
Unrealised foreign exchange
(6,621)
Net movement in funds
152,489
RECONCILIATION OF FUNDS
Total funds brought forward
2,496,041
TOTAL FUNDS CARRIED
FORWARD
2,648,530		 2024
2024
2024
2023
Restricted
funds
Foreign
currency
translation
reserve
Total Funds
Total funds
Restated
£
£
£
£
-
-
1,872,588
1,781,416
-
-
52,702
75,306
-
-
2,793
4,559
-
-
1,928,083
1,861,281
-
-
23,010
34,572
-
-
1,733,456
1,668,564
-
-
69,424
66,553
-
-
1,825,890
1,769,689
-
-
102,193
91,592
-
(237,849)
(237,849)
24,100
(56,917)
-
- -
-
-
(6,621)
(146,512)
(56,917)
(237,849)
(142,277)
(30,820)
3,610,364
199,985
6,306,390
6,337,210
3,553,447
(37,864)
6,164,113
6,306,390

10

Revelation Foundation

Registered Company Number: 04930129 (England and Wales) Balance Sheets

At 31 December 2024

Notes
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
NET ASSETS
FUNDS
Unrestricted funds
15
Restricted funds
16
Foreign exchange translation

TOTAL FUNDS		 Group
2024
£
5,526,941
-
5,526,941
301,360
658,448
959,808
(322,636)
637,172
6,164,113
2,648,530
3,553,447
(37,864)
6,164,113		 Group
Restated
2023
£
5,302,095
-
5,302,095
360,237
960,301
1,320,538
(316,243)
1,004,295
6,306,390
2,496,041
3,610,364
199,985
6,306,390		 Charity
2024
£
529,038
5,109,745
5,638,783
598,009
603,590
1,201,599
(676,268)
525,331
6,164,114

2,579,847
3,584,267
-
6,164,114		 Charity
2023
£
7,367
5,377,123
5,384,490
600,437
812,207
1,412,644
(561,790)
850,854
6,235,344
2,651,077
3,584,267
-
6,235,344

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.

29/09/25

The financial statements were approved by the Board of Trustees on ……………………. and were signed on its behalf by:

…………………... I G Pettie - Trustee

11

Revelation Foundation

Registered Company Number: 04930129 (England and Wales)

Cash flow statement

for the Year Ended 31 December 2024

2024
Group
£

Cash flow from operating activities:
Net cash provided by operating activities
Cash flow from investing activities:
75,757
Purchase of property, plant and equipment
(604,958)
Foreign exchange movements
227,348
Change in cash and cash equivalents in the
reporting period
(301,853)
Cash and cash equivalents at the beginning of the
reporting period
960,301
Cash and cash equivalents at the end of the
reporting period
658,448
Reconciliation of net income to net cash flow from operating activities:
Net income for reporting period (as per
the statement of financial activities)
(142,277)
Depreciation charges
152,764
Decrease in debtors/(Increase in debtors)
58,877
(Decrease)/Increase in creditors
6,393
Net cash (used in)/provided by operating activities
75,757
2023
Restated
Group
£
(30,930)
(96,048)
106,913
(20,065)
980,366
960,301
(30,820)
121,440
(28,427)
(93,123)
(30,930)

12

Revelation Foundation Notes to the Financial Statements for the Year Ended 31 December 2024

1. ACCOUNTING POLICIES

Revelation Foundation is a private company limited by guarantee, incorporated in England and Wales. The registered office is Ashfields, 129 Prestbury Road, Macclesfield, Cheshire, SK10 3DA.

The work of the Revelation Foundation is based in two countries. In Spain the office address is Calle Arcaduces 2, Pol. Ind La Cala de Mijas, 29649 La Cala de Mijas, Mijas Costa, Malaga, Spain, and in the UK the address is Revelation TV, Suite 124, 61 Victoria Road, Surbiton, Surrey, KT6 4JX , UK.

The nature of the charity’s operations is set out in the Report of the Trustees. The TV station's main base is in the UK and the day to day editorial and management decisions are taken there by the leadership team, under the direction of the trustees.

Accounting convention

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (published in October 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Charities Act and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiaries (see note 12). A separate Statement of Financial Activities for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006. The accounts of Genesis 247 SL have been consolidated within these figures at 31 December 2024.

Income

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The charity also benefits from volunteer time from its founder and others. It is not possible to place a value on this time therefore this is not included in the Statement of Financial Activities.

Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc. - 16.7% and 33% on cost Buildings - 2% on cost Land is not depreciated

Investments

Investments represent investments in subsidiary undertakings, which are measured at cost less any permanent impairment.

Foreign Currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Irrecoverable VAT

The irrecoverable VAT on expenditure is shown separately in the notes to the Statement of Financial Activities.

13

Revelation Foundation

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

Operating leases

Rentals paid under operating leases are charged to income and expenditure as incurred.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for the 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Debtors

Short term debtors are measured at transaction value less any impairment. At each balance sheet date, debtors are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is measured as the difference between the carrying amount and the amount expected to be received.

Creditors

Short term trade creditors are measured at transaction value. Other financial liabilities are measured initially at fair value, net of transaction costs, and subsequently at amortised cost using the effective interest method.

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements have been made by the Trustees in preparing these financial statements.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Donations received from supporters 1,592,832 - 1,592,832 1,490,801
Legacies 101,097 - 101,097 122,782
Tax repayable 178,659 - 178,659 167,833
1,872,588 - 1,872,588 1,781,416

2023 Funds allocation:

Of the £1,490,801 donations received from supporters £1,479,934 was unrestricted and £10,867 was restricted. Of the £122,782 legacies received from supporters all was unrestricted.

Of the £167,833 tax repayable £164,165 was unrestricted and £3,668 was restricted.

3. OTHER TRADING ACTIVITIES

Unrestricted Unrestricted
and Total and Total
Funds Funds
2024 2023
£ £
Hire of equipment/use of platform 52,702 75,306
52,702 75,306

14

Revelation Foundation

Notes to the Financial Statements – continued

for the Year Ended 31 December 2024

4. INCOME FROM INVESTMENTS

INCOME FROM INVESTMENTS
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Deposit account interest and dividends received 2,793 - 2,793 4,559
2023 Fund allocation:
Of the £52 income from investments received £NIL was restricted and £52 was unrestricted.

5. EXPENDITURE ON RAISING FUNDS

Unrestricted Restricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Consultancy costs 1,251 - 1,251 6,822
Postage, printing & stationery 21,759 - 21,759 27,750
23,010 - 23,010 34,572

2023 Funds allocation:

Of the £34,572 expenditure on raising funds £28,850 was unrestricted and £5,722 was restricted.

6. EXPENDITURE ON CHARITABLE ACTIVITIES

Wages
Satellite, broadcasting and other direct costs
Premises costs
Equipment maintenance
Travel and subsistence
Computer expenses
Consultancy costs
Subscriptions
Advertising
Sundry expenses
Postage, printing & stationery
Staff welfare
Telephone
Donations
Irrecoverable VAT and other taxes
Depreciation
Insurance
 Unrestricted and
Unrestricted
Total Funds
Total Funds
Restated
Funds
2024
2023
£
£
£
447,391 447,391 427,560
6529,715
529,715
501,368
170,296
170,296
273,365
-
-
905
27,847
27,847
42,588
42,406
42,406
49,626
138,045
138,045
115,764
13,456
13,456
11,875
2,470 2,470 2,804
15,412
15,412
27,895
41,856
41,856
45,111
389
389
1,458
39,739
39,739
37,494
46,429
46,429
26,541
44,717
44,717
(34,836)
152,764
152,764
121,440
21,125
21,125
17,606
1,733,456
1,733,456
1,668,564

15

Revelation Foundation

Notes to the Financial Statements – continued for the Year Ended 31 December 2024

7. EXPENDITURE ON GOVERNANCE

7. EXPENDITURE ON GOVERNANCE
Unrestricted and Unrestricted and
Total Funds Total Funds
2024 2023
£ £
Professional fees 32,819 31,167
Legal fees 7,444 3,204
Auditors’ remuneration 16,000 16,300
Interest payable and similar charges 13,161 15,882
69,424 66,553
8. INCOME/EXPENDITURE
Income/Expenditure is stated after charging:
Total Total Funds
Funds Restated
2024 2023
£ £
Auditors’ remuneration 16,000 16,300
Depreciation – owned assets 152,764 121,440

9. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 December 2024 and nor for the previous period.

Trustees’ Expenses

Travel expenses amounting to £7,872 were reimbursed to 2 trustees (31 December 2023 - £7,254 – 3 trustees).

10.
STAFF COSTS

Wages and salaries
There were no staff earning more than £60,000.		 2024
£
447,392		 2023
£
427,560

The key management personnel of the Charity are considered to be the Trustees who receive no remuneration.

The average number of employees analysed by function was as follows:

2024 2023
Charitable services 11 13
Fundraising/Admin 4 2
15 15

16

Revelation Foundation

Notes to the Financial Statements – continued for the Year Ended 31 December 2024

11. TANGIBLE FIXED ASSETS

Group
Freehold land
and buildings
Studio, camera,
computer equipment
and fittings
£
£
COST
At 1 January 2024
5,387,800
1,081,187
Additions
350,790
254,168
Foreign exchange movements
(227,348)
-
At 31 December 2024
5,511,242
1,335,355
DEPRECIATION
At 1 January 2024 - restated
93,072
1,073,820
Charge for the year
94,934
55,112
Foreign exchange movements
2,588
130
At 31 December 2024
190,594
1,129,062
NET BOOK VALUE
At 31 December 2024
5,320,648
206,293
At 31 December 2023
restated
5,294,728
7,367
Charity
Freehold land
and buildings
Studio, camera,
computer equipment
and fittings
£
£
COST
At 1 January 2024
-
969,090
Additions
340,660
237,016
At 31 December 2024
340,660
1,206,106
DEPRECIATION
At 1 January 2024
-
961,723
Charge for the year
6,813
49,192
At 31 December 2024
6,813
1,010,915
NET BOOK VALUE
At 31 December 2024
333,847
195,191
At 31 December 2023
-
7,367		 Total
£
6,468,987
604,958
(227,348)
6,846,597
1,166,892
150,046
2,718
1,319,656
5,526,941
5,302,095
Total
£
969,090
577,676
1,546,766
961,723
56,005
1,017,728
529,038
7,367

17

Revelation Foundation

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

12. FIXED ASSET INVESTMENTS

Charity Shares in group
undertakings
£
COST
At 1 January 2024 5,377,123
Impairment 267,378
NET BOOK VALUE
At 31 December 2024 5,109,745
At 31 December 2023 5,377,123

The company's investments at the balance sheet date in the share capital of companies include the following:

Revelation TV (London) Limited

Country of incorporation: England and Wales Nature of business: Dormant Registered address: Ashfields, 129 Presbury Road, Macclesfield, Cheshire SK10 3DA Registered number: 04572981

%
Class of share: holding
Ordinary 100
2024 2023
£ £
Aggregate of assets, liabilities and funds 100 100

18

Revelation Foundation

Notes to the Financial Statements – continued

for the Year Ended 31 December 2024

Genesis 247 SL

Country of incorporation: Spain Nature of business: Christian TV channel. Registered address: Calle Arcaduces 2, 29649 La Cala de Mijas, Mijas Costa, Málaga

%
Class of share:
holding
Ordinary
100
Aggregate of assets, liabilities and funds
Incoming resources
Expenditure on charitable activities
Governance costs
Total costs
Profit/(Loss) for the year		 2024
2023
Restated
£
£
5,091,355
5,402,851
910,532
1,219,693
947,402
1,085,387
12,663
27,000
960,065
1,112,387
(49,533)
107,306

13. DEBTORS:

AMOUNTS FALLING DUE WITHIN ONE YEAR

13.
DEBTORS:
AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Tax recoverable
Prepayments
AMOUNTS FALLING DUE AFTER ONE YEAR
Amounts owed by group and associated
undertakings		 Group
2024
2023
£
£
47,557
60,732
173,330
201,808
65,622
72,475
14,851
25,222
301,360
360,237
Group
2024
2023
£
£
-
-
-
-		 Charity
2024
2023
£
£
47,557
60,732
155,706
187,728
47,232
27,157
14,851
17,480
265,346
293,097
Charity
2024
2023
£
£
332,663
307,340
332,663
307,340

19

Revelation Foundation

Notes to the Financial Statements – continued

for the Year Ended 31 December 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Charity
2024 2023 2024 2023
£ £ £ £
Trade creditors 30,789 39,022 13,898 13,866
Social security and other taxes 2,469 - 2,469 -
Other creditors 289,378 277,221 659,901 547,924
322,636 316,243 676,268 561,790
15. MOVEMENT IN FUNDS – UNRESTRICTED
Group
Unrestricted funds At 01.01.24 Net movement At 31.12.24
in funds
£ £ £
General fund 2,496,041 152,489 2,648,530
Net movement in funds, included in the above are as follows:
Incoming Resources Transfers Foreign Movement in
resources expended exchange funds
Unrestricted funds £ £ £ £ £
General fund 1,928,083 (1,825,890) 56,917 (6,621) 152,489
Charity:
At 01.01.24 Transfers Net movement At 31.12.24
in funds
Unrestricted funds £ £ £
General fund 2,651,077 56,917 (128,147) 2,579,847
Net movement in funds, included in the above are as follows:
Incoming Resources Transfers Foreign Movement in
resources expended exchange funds
Unrestricted funds £ £ £ £ £
General fund 1,922,476 (1,991,009) (56,917) (2,697) (128,147)

20

Revelation Foundation

for the Year Ended 31 December 2024

Notes to the Financial Statements – continued

16. MOVEMENT IN FUNDS – RESTRICTED

Group and charity
Restated Net movement
At 01.01.24 in funds At 31.12.24
£ £ £
Restricted funds
Building fund 3,608,516 (56,917) 3,551,599
Compassion Rwanda 1,848 - 1,848
Total restricted funds 3,610,364 (56,917) 3,553,447
Net movement in funds, included in the above are as follows:
Incoming Incoming Transfers Movement in
resources resources funds
£ £ £ £
Restricted funds
Building Fund - - (56,917) (56,917)
Total restricted funds - - (56,917) (56,917)

The Building Fund is a fund set up to acquire land and build a new studio. The transfer is in relation to the restricted element of depreciation on the building.

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Group

Group
Unrestricted Restricted Total Funds
Funds Fund 2024
Tangible fixed assets 2,013,206 3,513,735 5,526,941
Current assets 301,360 - 301,360
Cash at bank 656,600 1,848 658,448
Current liabilities (322,636) - (322,636)
2,648,530 3,515,583 6,164,113
Charity
Unrestricted Restricted Total Funds
Funds Fund 2024
Tangible fixed assets 529,038 - 529,038
Investments 1,527,326 3,582,419 5,109,745
Current assets 598,009 - 598,009
Cash at bank 601,742 1,848 603,590
Current liabilities (676,268) - (676,268)
2,579,847 3,584,267 6,164,114

21

Revelation Foundation

Notes to the Financial Statements – continued for the Year Ended 31 December 2024

18. RELATED PARTY DISCLOSURES

21[st] Century Television Limited (a company in which Lesley Conder, a trustee, is a major shareholder) was invoiced by the Charity £52,702 (2023: £75,306) in respect of broadcasting costs. £47,557 (2023: £60,732) was owed at the year end and is included in trade debtors.

Luke Conder (son of Lesley Conder a trustee) was paid £40,580 (2023: £39,996) for the provision of consultancy services.

Park 3D Limited (a company under the control of Jeremy Park - brother in law of Lesley Conder a trustee) was paid £12,586 (2023: £8,501) for the provision of consultancy services.

The balance owed by Revelation TV SL is £155,706 (2023: £155,706) and is included in other debtors.

During the year, donations totalling £27,645 (2023: £Nil) were paid to Revelation Association, a charity connected by trustees in common. The balance due to Revelation Association was £255,975 (2023: £255,975) and this is included in other creditors.

19. FINANCIAL PERFORMANCE OF THE CHARITY

The consolidated statement of financial activities includes the results of the charity’s wholly owned subsidiaries (see note 12).

The financial performance for the charity alone is:-

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
Incoming reserves 1,922,476 - 1,922,476 1,857,797
Costs of generating voluntary income 23,010 - 23,010 34,572
Expenditure on charitable activities 1,911,238 - 1,911,238 1,807,340
Governance costs 56,761 - 56,761 39,553
1,991,009 - 1,991,009 1,881,465
Other gains/(losses) (2,697) - (2,697) (138,558)
Net incoming resources (71,230) - (71,230) (162,226)
Total funds brought forward 2,651,077 3,584,267 6,235,344 6,397,570
Total funds carried forward 2,579,847 3,584,267 6,164,114 6,235,344

22

Revelation Foundation

Notes to the Financial Statements – continued

for the Year Ended 31 December 2024

20. ULTIMATE CONTROLLING PARTY

The trustees consider there to be no overall controlling party.

21. PRIOR YEAR RESTATEMENTS

The following prior year errors have been identified:

Changes to Group Balance Sheet
FIXED ASSETS
Tangible assets
CURRENT ASSETS
Debtors
FUNDS
Unrestricted funds
Restricted funds
Foreign currency translation reserve
Changes to Consolidated Statement of Financial Activities
EXPENDITURE ON:
Expenditure on charitable activities

TOTAL EXPENDITURE

NET INCOME/(LOSS)

Foreign exchange translation of subsidiary

Other recognised (losses)/gains
Unrealised foreign exchange

Net movement in funds

RECONCILIATION OF FUNDS
TOTAL FUNDS CARRIED FORWARD		 As previously
reported
Adjustment
5,287,102 14,993
314,919
45,318
2,661,812
(165,771)
3,584,267
26,097
-
199,985
1,729,048
(60,484)
1,830,173
(60,484)
31,108 60,484
- 24,100
(122,239)
(24,273)
(91,131) 60,311
6,246,079
60,311		 As restated 31
December 2023
5,302,095
360,237
2,496,041
3,610,364
199,985
1,668,564
1,769,689
91,592
24,100
(146,512)
(30,820)
6,306,390

23