REGISTERED COMPANY NUMBER: 04897890 (EnBland and Wale5) REGISTERED CHARITY NUMBER: 1101870 Revivall Previously known as Salvation for the Nations Internatlonal Churches Report of the TnteeS and Unaudlted Flnanclal Statements for the Year Ended 31 March 2024 DUX Advlsory Limited Chartered Accountants Kennel Club House Gatehouse Way Aylesbury Buckinghamshire HP19 8DB
R¢vl¥all pre¥lDusly known as Salvatlon forthe Nations IntÉrnatlonal hurches Contsnts otthe FlnaKlal SL•tements forthe Year Ended 31 Marth 2024 Pa Reference andAdmlnlslratlve Detslls Report of theTfUStees IndepeTrdert Examiner's Report Stalement of Flnwndal Artfvltles Balar*Q Shoot 10 to 11 Cash Flow Statement 12 Natos lo the Flnancial Statements 13 to 24
Revlvall previously known as 5alvatlon for the Nations Intsrnational Churches Refereno and Adrnini5trative Detsi15 for the Year Ended 31 March 2024 TRusfEES Mr C Freckleton Mr A C Hayllar Mr A L Radmore Mr B O Lucas (appointed 30.11.23} Mr J W Collins lappointed 30.11.23) REGIERED OFFICE Salvation House Unit 2 Sterling Court Mundells Welwyn Garden City Hertfordshire AL71 REGISTERED COMPANY NUMBER 04897890 (England and Wales) REGISTERED CHARrtY NUMBER 1101870 INDEPENDENf EXAMINER DUX Advisory Limited Chartered Accountants Kennel Club House Gatehouse Way Aylesbury Buckinghamshlre HP19 8DB Page I
Revivall (RegiSted number: 04897890) previously known as Salvatlon for the Natlons International Churches Report of the Trustees for the Year Ended 31 March 2024 The trustees who are also dlrertors of the charity for the purposes of the Companies Act 2CN)6, present their report wlth the financlal statements ofthe charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reportirig 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 IFRS 102) {effective l January 2019). OBJEcfivES AND ACTIVITIES Objertives and alms . To advance the Christian faith in accordance with the statement of belief in the United Kingdom and the world as the Directors may from time to time think fit and to fulfil other such purposes which are exclusively charitable according to the Law of England and Wales and relate to the charitable work of the charitylcompany. b. To relieve persons who are in need or hardship or who are aged or slck and to relieve the distre55 caused thereby In the United Kingdom or the world as the Direttors may from time-to-time think fit. Page 2
Revlvall {Reglstered number: 048978901 previously known as Salvatioft for the Natlons International Churches Report of the Trustees for the Year Ended 31 March 2024 srRATEGIC REPORT Achlevement and performance The charty is in its 20th year and continues to increase its footprint nationally and internationally. The annual Awake conference was 3 success again: it strategically focused on spiritual and marketplace leaders. with daily key workshops focused on leadership challenges today. Besides this major conference. the charty held two additional midweek "3 Nights of Glory" events in October and February. Leading national guest worship leaders offered cutting-edge worship, which attracted people locally and in the greater London area to attend. The charity has purchased and instigated variou5 upgrades to the audiolvisual and sound systems durlng the year to maintain the highly professional level offered by the multimedia department. In addition tothese special events, the charity invested significantly in various Christmas outreach events, includin6 a special family day with free Christmas-themed rides, actlvSties, food, and gifts for every child in attendance. In addition to the family fun day, everyone enjoyed a Christmas pantomlme with a choir and multimedia. There were approximately 700 familie5 in attendance from within and OLrtside the local church, The charity gave 100 special Christmas hampers to families In financial need. each containing a retail value of £150.W. These were given out 5 days before Christmas followin8 an exceptional community carol service with 7-piece orchestra and choral accompaniment. The children's and youth ministries continue to grow, necessitating the recruitment of a full-time Youth and Young Adult Pastor. Followin8 an advertising campaign and several informal Interviews, the charity recruited a sultable candidate from Sydney, Australia. Due to the recruitment of a foreign national, the charity deemed it necessary to incur all the associated costs to cover visas, air travel. housin& motor vehicle purchases, etc.. to secure the recruitment and retention of the staff member and the family. The charity has also donated fund5 to Harrismith Hope House. a children's home in South Africa. It urgently needed 90 children's outfits for the new school year and supplied all their basic stationery needs. The charity ha5 developed a relationship with this re8iStered charity in South Africa and has provided them with spiritual, financial and personal support for the past 3 years. The charity continues to provide various crucial support services to the community, including support for the elderly in multiple retirement care homes. Mums Connect every week, the food distribution ministry. Halloween alternative events for children and young people. marriage enrichment courses, and prayer/counselling support. Pralse God for another year filled wlth the groce of God by which we're able to celebrate miraculous numeric, financial, mlnlstry and outreach growth. The Trustees acknowledge the charities, indebtedness to the flexibility and fearlessly passionate contributions of all volunteers. staff and Senior Pastor5, the benefartors, by which the charity's success is possible, for which the trustees hlghly commend their contributions. "For God 15 not unjust to forget your work and labour of love which you have shown toward His name, in that you have ministered to the saints, and do minister" Hebrews 6:10 NKIV Page 3
Revlvall (Registered number.. 04897890) prevlously known as Salvatlon for the Natlons Internatlonal Churches Report of the Trustees for the Year Ended 31 March 2024 STRATEGIC REPORT Financlal review The charlty relies on the generosity of those who are able and willing to contribute financially, for which the trustees are grateful. Although the charity has 8rown numerically, hence the need for additional staffing, the adverse effects of the cost-of-livin8 crisis impacts many businesses and famllles revenue levels, budgets and disposable income, together with our slgnificant investment in the community events programme throughout the year and a substantial accounting depreciation level of £46k in the year. the resultant being a shortfall of approximately £67k. The charity remortgaged the Sterling Court property with another mortgage broker, which, although initially incurring significant le8al/professional costs in the year. facilitated a lower interest rate throughout its term and consequently will be more cost- effective. A5 the charity 15 in a period of rapid numerSc growth both nationally and internationally, the Trustees remain confident in its current financial stability and viable forecasted sustalnability for the foreseeable future. lie Mlnlsiry PfO8rarne % OF CF14RITABLE ExpenditLIKe 2023-24 2022-23 8.53% 8.76% 24.43% Comblned 67.05% 25.25% SAinistry Pro8rame' 65,99% PaEe 4
Revlvall (Reglstered number: 04897890) previously known as Salvatlon for the Nations International Churches Report of the Trustees for the Year Ended 31 March 2024 Statement of a(ptance The Board of trustee/directors consider that wlth- A sustained average year-on-year annual cash reserves liquidity variation of 36.57% and 56.79% across the precedlng flve-year fiscal period - A ratio of ye3r-end cash reserves liquidity to annual operating expenditure of 7.26% with a 19.33% average atross the preceding fwe-year fiscal period. - The current quantum and liquidity of the retained tash reserves There are no material uncertainties about the charity's ability to continue as a going concern. Apparent risks identifjed The financial effects of the economic crisis have necessitated the charityto identifythe need for increased media presence to grow the financial income level. Strategic Kingdom Business events will attract new local businesseslentrepreneurs and provide essential support for those in business. The charlty will continue identifylng new/additlonal banking options to support the growing vision. Looklng forward to 2024125 The charty will be an anchor partner in a natlonal outreach event in July 2024, "Holy Ghost and Fire" This event will be held at the Excel London and accommodate booklngs for up to 20,OCN) people. The charity will be making a significant financial and resource contribution to the event as the primary outreach focus for the year. due to the considerable investment into this and the expected significant exposure for the charity, the decision was taken to move the annual Awake conference to the end of August and to combine it with a summer outreach programme. There is a need for additional resources due to the planned expansion of the charity's footprint. The RBI Bible ColleEe faculty will introduce a new 4th-year extension programme for volunteer student intemships invitations to join- this will benefit the students with additional intense training/experience from existing staff, and provide necessary resources to the charity. sfRucfuRE, GOVERNANCE AND MANAGEMENT Governin8 document The charity is controlled by its 8overnin8 document, the Memorandum and Articles of AssocSation, and constitutes a limited company, limited by guarantee, as defined by the Companles Art 2006. Page 5
Revivall (Reglstered number: 04897890) prevlously known as Salvation for the Natlons Internatlonal Churehes Report of the Trustees for the Year Ended 31 March 2024 srRucfuRE. GOVERNANCE AND MANAGEMEMr The following were directors for the purposes of company law, and trustees for the purposes of charity law. during the year and since the year end: Mr Canute Freckleton Mr Alan Hayllar Mr Al(lywn Radmore Mr John Collins Mr Babafemi Lucas Recruitment and Selection SFTN h35 a careful and systematic recruitment & selettion system The company has a diverse board of Trustees/Directors in skill, experience and gifting. Trustees/Directors are appointed and/or removed from office in consultation with the principal stakeholders, Dr Bradley Norman and Rev Wyona Norman. The company's board undertakes a Disclosure & Barring Scheme {DBSI check for each director to ensure that they are eligible to act. All members of the board of dlrectorsltrustees are obli8ed to comply wlth "The Code of Condutt" and 'Access to and Privacy" policies. Key management remuneration is provlded on a discretionary basis. Tralnlng Members of the board regularly undertake research on various queries and share the Information with the other direttors. providing copies of documents to each director who utllise the advice and guidance. Ken Freckleton has been appointed by the Senlor Mlnisters to direct, guide and sUPPOrt the board of Trustees. The directors subscribe to various bodies to acquire knowledge and keep abreast of new developments. Induction SN seeks to offer a comprehensive induction programme during which new dirertors are pn)vided with the kev information which they need to run the company. The company provide5 new direttors with relevant information. For example. new dirertor5 are provided with copies of minutes of previous meetings as well as governance information pertinent to the vision. aims. objectives, purposes and policy of the charity as part of the induction process. Public benefit The directors have considered the Charity Commission's general guidance on public benefit and, in particular. the specific guidance on charities for the advancement of religion. when reviewing the companvs aims and objettive5 and in planning future activitles. The directors have. in their view. met the public benefit requirement by holdlng a variety of events which are open to the general public and which seel in 3ccordance wlth their vision. to transform lives and thus enable people to Ilve as responsible citizens in their community. The vision. mission and values of the company along wlth the yearfs objectives, activities and achievements are set out in this report. Page 6
Revknll prevttiusty Salv•%lJD ftsrthe Natlons Intsrn#¢ional Chwths Reportofthe Trustees for thè YearEnded JI March 2024 CWINGE OF NAME The charitsble company pa55ed a special resolution on 14 July 2024 changing its name from 5èlvatiDn for the Nati¢X International (hurthe5 tc RevidI1. STATEMENT OF TRUSTEE5' RESPONSJBIUTIES trustee5 Iwho are a150 the (Ilrertors of Aevi¥all for the purpose5 of company law} are responsible for weparlng the Report of thè Trv5tees and the finat)eial ternets In aOrdn wlth applicable law ard UnllEd Klngdom Accountln8 5tsndards (United ngdoM GereTallyAttepted Accourting PrartI1. Cornpany law requirt5 the tru5teE5 to prepare flnincial 5tstrments for each finanddl year whirh Btve a true and lair vtew of the State of affair5 of the charitablé Gompafty and Df the incomln8 resources 3nd Hpplkatlon of r•sour¢eg. in¢ludin8 the incorrle and expendlture, (trf the tharitrblE company for that perlrJ. In preparing those flnanclal statèTnen ihe trustee5 are requlred io 5plert suitable accountln8 policie5 and then apply them torrslslently* obseNe thi rn8thods and prlnGiples In the Charlry SORP: makeludgements and e5tlmates that are rea50n4ble and prudent: state wheth&r appllcablÈ attouTrtin8 5tsndards h•¥e been followed, subJErt to any matsrial departYTe5 dlsclosed and explained In thefinancial stat¢rnents; prèparè the finaftdal statèments on the 8olrw concèrn basi5 unFe55 it Is In•ppropriate to preiume that the chttritable companywill continue In buslness. The trnsteos are responslble for keepln8 proper accountlni re¢ords whlch dlsdose wtth reasonable aCCracY at aw tlme the finallclal p051don of the charfjtable company and to tnable them to ènsure that the flnancial statements iomp]y with the Companles Att 2W6. They are also respDnsible for 5afe8uarding the assets of the tharitable company 4nd here for taking reasonable steps furthe proventlon and detettion of fr4ud and other irre8ularitle5. Thi5 report has prepared In accordance withthe current Statement of Reccthmended Prattl- Accounting and Rgportir¥ by CharitlB5 3nLI in accordance w5th the speclal prcvlslons of Part 15 of the CompaniesAct 200G relatlhgto smallerentlties_ The trustees are re5pgnsible for the maintenants and inteBrity of the corporatÈ and financial information Induded on the charitable company's wèbsite. Le8rslation in the United Kin8dom governrng the preparatlon ané dissemlnation of flnancial statements may differ from leEislation irn othÉrlvrlsdictlon¢. Report vf the truste & I rporating o 5trateBic report. approved by or<ler of the board of tmstee5. as the companv sl8ned on the board¥ behalf by: TUS Page 7
Independent Examlner's Report to the Trustees of Revivall prévlously known as Salvation for the Natlons Internatlonal Churches Independent examiner's report to the trustees of Revivall I'the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companie5 Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 (b) of the 2011 Act. Independent examlner's statement Since your charity's gros5 income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or the accounts do not accord with those records: or the accounts do not comply with the 3ccounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 10211. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understandin8 of the accounts to be reached. James FDskett Bsc FCA DChA DUX Advisory Limited Chartered Accountants Kennel Club House Gatehouse Way Aylesbury Buckinghamshire HP19 8DB 17 December 2024 Page 8
Revlvall previously known as Salvatlon for the Nations International Churches Statement ot Financial Activities Ilncorporating an Income and Expenditure Account) for the Year Ended 31 March 2024 31.3.24 31.3.23 Total funds Unrestricted fund5 Notes INCOME AND ENIKIWMENT5 FROM Donations and legacies 929,383 968,202 Charltable activitles Church activities 12,724 22,372 Other income 3,198 Total 942,107 993,772 EXPENDITURE ON Raisin8 fund5 1,047 Charltable actlvlties Support Costs General activities Venue costs Educational costs World mission Local mission Governance costs 422,219 232,749 167,295 8,911 59,677 28,502 15,679 384,395 161,388 141,5C 13.401 44,612 30,393 7,571 Other 73,930 79,810 Total 1,008,962 8fv1,117 NET INCOME/{EXPENDITUREI 166,8551 129,655 RECONCILIATION OF FUNDS Total funds brought forward 735,054 605,399 TOTAL FUNDS CARRIED FORWARD 668,199 735,054 CONTINUING OPERATIONS The statement of financial attivities includes all gains and1055es recognised in the year. All income and expendFture derive from continuing artivities. All transartions are unrestricted. The notes form part of these financial statements Page 9
Revlvall (Reglstered number: 04897890) prevk)usly known as Salvation for the Natlons International Churches Balance Sheet 31 March 2024 31.3.24 Unre5tritted funds 31.3.23 Total funds Notes FIXED ASSErs Tangible assets Investments li 12 1.277,016 1,311,162 1,277,017 1,311,163 CURRENf ASSETS Debtors Cash at bank 13 129,957 71.993 27,971 216,760 201,950 244,731 CREDITORS Amounts falling due within one year 14 146.474) 136.352) NET CURRENT ASSErs 155,476 208,379 TOTAL ASSEfs LESS CURRENT UABIUTIES 1,432,493 1.519,542 CREDITORS Amounts falling due after more than one year 15 (764,2941 {784,488} NEf ASSETS 668.199 735,054 FUND5 Unrestrlcted funds 18 668,199 735,054 TOTAL FUNDS 668,199 735,054 The charitable company is entitled to exemption from audlt under Settion 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. Page 10
Revlvall prevhjusty krth¥n as Salvatlon orth• NaUon$ Int•mailol Bakn¢e 5h¢et-wthed 31 Marth 2024 Thetrustees acknowledge their re5pon5ibilFrle5 for {al ensurin8 that the charitable company keep5 accountln8 records th tDmply wlth Settiolls 386 and 387 of ihe C¢mp•nles Art 2006 and preparing firtanclal statements whrih fjive a true and faff ¥iew of the stste of affalrs of the ¢harlt8ble tompany as at thÈ end of earh financial year and of Its surplu5 or deftdt for each financ1 yeBr in accordance with the rel1ments of Seetions 394 and 395 and whlch othèrwise comply ¥th the requirernents of the Companle5 Act 2006 relating to financial 5tstements, 50 far as appIlble to the ¢haritsble company, Ibl Thefinandal 5taternents were approved by the Board of Trustees and authorlsed for Issue on and were s. ed on Its beholf by: Mrc Freckleton-TTUStee The note5 ft)rm partof the5eftnantial 5tatem2nts Page 11
Revlvall previously known as Salvatlon for the Nations International Churches Cash Flow Ststement for the Year Ended 31 March 2024 31.3.24 31.3.23 Notes Cash flows from operatlng artlvltles Cash generated from operations 20 {112,8211 106.138 Net cash (used inl/provided by operating artivities (112,8211 106.138 Cash Ilows from Investlng activitles Purchase of tangible fixed assets Sale of tangible fixed assets {11,7521 172.477) 9,180 Net cash used in investing activities 111,7521 163,297) Cash flows frorn flnan¢ln8 artlvltles Capital repayments in year 120.194} 114,8861 Net cash used in financing activlties (20.194) 114.8861 Change in cash and cash equlvalents in the reportlng perlod Cash and cash equivalents at the beglnning of the reportlng perlod 1144.7671 27,955 216.760 188,805 Cash and cash equivalents at the end of the reporting period 71,993 216,760 Page 12
Revlvall weviously known as Salvation for the Nations Internallonal Churches Notes to the Flnancial Ststements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basls of preparin8 the flnancial ststernents The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities 50RP IFRS 1021 'Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stan(Jard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention. modified to include certain items at fair value. The significant accounting policies applied in the preparation of these financial statements are Set out below. These policies have been consistently applied to all years presented unle55 otherwise Stated. The financial statements are prepared in sterling which is the functional currenry of the charitable company and been rounded to the nearest £1. Golng concern Atthe tlme of approving the financial statements, the TrLSStees have a reasonable expectation that the charitable companv has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basi5 of accounting in preparing the financial statements. Preparatlon of consolldated flnancial statsments The financial statements contaln information about Revivall as an individual company and do not contain consolidated financlal Information as the parent of a group. The charity is exempt under Sectlon 39912AI of the Companies Act 2006 from the requirements to prepare consolidated financial statements. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The tax recoverable on gift aid receipts IS accounted for at the same time as the receipt. Income which specifically relates to expenditure to be incurreil in a future period is shown as deferred income. Rental income and interest receivable are accounted for on an accruals basis. The market value of gifts in kind, including the provision of facilities at no charge or at a reduced cost. is estimated by the trustees and when material this value is credited to the Statement of Financial Activities with a corresponding amount being included in the relevant expenditure headin8. Expenditure Liabilities are recognised as expenditure as soon as there Is a legal or constructive obligation cornmitting the charity to that expenditure, it is probable that a transfer of economic benefits will be required in Settlement and the amount of the obligation can be measured rellably, Expenditure is accounted for on an accruals basis, inclusive of VAT which cannot be recovered, and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activitles on a basis consistent with the use of resources. The charitable company's operatlng costs Include staff costs. rent and other related costs. Such costs are allocated to expenditure in respect of charitable activltles. Other costs have been allocated to appropriate cost heading5. Page 13 contlnued...
Revlvall prevlousty known as Salvatlon for the Nations International Churches Notes to the Flnanclal Ststements- ¢ontinued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- contlnued Tanglble fixed assets Tangible fixed assets are inltlally measured at C05t and subsequently measured at cost or valuation, net of depreciation and any Impairment105ses. Depreciation is recognised 50 as to write off the cost or valuation of assets less their residual values over their useful lives on the followin6 base5: Leasehold land and buildings Plant and equipment CoMperS Motor vehicles 15-25% 15-25% 33% The gain or loss arising on the disposal of an asset is determlned as the difference between the sale proceeds and the carrying value of the asset, and is recognlsed in the statement of financial attivities. Individual items of equSpment or furniture are capitalised when the purchase price is £1,000 or more. During the year some of the depreciation rates and residual values were revlewed and adjusted. This adjustment includes depreciatlng the leasehold property and motor vehlcles on the basis that they would have a residual value at the end of their useful life. Freehold Land Is not depreciated. Taxation The charity 15 exempt from corporation tax on Its charitable activities, Fund a¢countln8 Unrestrlcted funds can be used in accordance with the charitable objertives at the discretion of the trustees. Restrirted funds can only be used for particular restrirted purposes within the objetts of the charity. Restrlttlons arise when specified by the donor or when funds are ralsed for partlcular restritted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the flnanclal statements. Pension costs and other post-retlrement benellts The charitable company operates a defined contrlbution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposlts held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. FIKed asset Investments Fixed asset Investments are initially measured at transaction price excluding transactlon costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditure) for the year. Transaction costs are expensed as incurred. Page 14
Revlvall prevlously known as Salvation for the Natlons Internatsonal Churches Notes to the Financial Statements- contlnued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued A subsidiary is an entity controlled by the charitable company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its attivities. Key source of estimatlon, uneertalnty and Judgement The preparation of the financial statements in conformity with 8eneral accepted accountin8 prartice requires management to make estimates and judgement that affect the reported amounts of assets and liabilitie5 as well as the disclosure of contin8ent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reportlng period. There is estimation uncertainty in calculatlng depreciation, as monthly calculations are based on the estimated useful life of assets. Whilst every attempt Is made to ensure that the depreciation policy is as accurate as posslble, there remalns a risk that the policy does not match the useful life of the assets. There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollettable. DONATIONS AND LEGACIES 31.3.24 31.3.23 Gifts and offerings Tax reclaimed 804,137 125.246 877,860 90.342 929,383 968.202 Page 15 continued...
Revivall prevlously known as Salvatlon for the Natlons International Churches Notes to the Financial Statements - contlnued for the Year Ended 31 March 2024 INCOME FROM CHARrfABLE AcfiviTIES 31.3.24 31.3.23 Actlvity Church activities Church activities 12,724 22.372 OTHER INCOME 31.3.24 31.3.23 Other income 3.198 RAISING FUNDS Ralsin8 donation5 and le8acles 31.3.24 31.3.23 Fundraising event costs 1,047 CHARITABLE ACTIVITIES COSTS Direct Costs support Costs General activities Venue costs Educational costs World mission Local mission Governance costs 422,219 232,749 167,295 8,911 59,677 28,502 15,679 935.032 Governance costs include payment5 to the independent examiner of £4,620 {2023: £3,210) in respect of the Sndependent examination and £2.82012023: £4,361) for other professlonal services. Page 16
Revivall prevlously known as Salvatlon for the Nations Internatlonal Churches Notes to the Financlal Statements- contlnued for the Year Ended 31 March 2024 NEf INCOME/(EXPENDITURE) Net incomellexpenditure) is stated after chargingjlcreditingl: 31.3.24 31.3.23 Depreciation - owned assets 45,898 44,620 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expen5e5 There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF cosrs 31.3.24 31.3.23 Wages and salarles Social security costs Other penslon costs 380,216 38.135 344,010 37,788 2.597 422,219 384.395 The average monthly number of employees durin8 the year was as follows: 31.3.24 12 31.3.23 12 Average number of employees Under the charitable company's 'Access to and Privacy Policy" the trustees have an obligation to keep private and confidential both income and expenditure of the charitable company as it relates to identifiable individua15. This includes the disclosure of any individual employee's remuneration irrespective of their role within the charitable company. The Senior Pastors. together with the trustees. form the key management of the charitable company and the trustees have determined that to provide the information required about remunerations required by the SORP would contravene the charitable company's "Access to and Privacy Policy" On that basis. individuals, remunerations are not disclosed in these financial statements. There were no employees whose annual remuneration was more than £60,00012023.' None). Page 17 continued...
Revlvall prevlously known as Salvatlon for the Nations International Churches Notes to the Flnanclal Statements- contlnued for the Year Ended 31 March 2024 io. COMPARATIVES FOR THE 5fATEMENT OF FINANCIAL AcfiviTIES Unrestrirted funds INCOME AND ENDOWMENTS FROM Donations and legacies 968.202 Charitsble artivities Church activities 22.372 Other income 3.198 Total 993,772 EXPENDITURE ON Raising fund5 1.1)47 Charftable artlvltle5 Support Costs General artlvities Venue costs Educational costs World mission Local mission Governance costs 384,395 161,388 141,500 13,401 44,612 30,393 7.571 Other 79,810 Totsl 864,117 NET INCOME 129,655 RECONCILIATION OF FUNDS Total funds brought forward 605,399 TOTAL FUNDS CARRIED FORWARD 735.054 Page 18
Revivall prevlously known as Salvatlon for the Natlons International Churches Notes to the Financial Statements- contlnued for the Year Ended 31 March 2024 ii. TANGIBLE FIXED ASSETS Freehold property Plant and machinery Motor vehicles CompLrter equipment Totals At l April 2023 Additions 1,575,911 97,630 2,050 53.800 5,695 98,427 4,007 1,825.768 11.752 At 31 March 2024 1,575,911 99,680 59,495 102,434 1,837,520 DEPRECIATION At l April 2023 Charge for year 309,763 21,635 97.632 273 23,809 18.016 83,402 5,974 514,606 45.898 At 31 March 2024 331.398 97.905 41,825 89,376 560,504 NET BOOK VALUE At 31 March 2024 1,244,513 1,775 17,670 13,058 1,277,016 At 31 March 2023 1,266,148 12) 29,991 15.025 1.311,162 FIXED ASSET INVEsfMENTS Shares in group undertaking MARKET VALUE At l April 2023 and 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 There were no investment assets outside the UK. The company's investments at the balance sheet date in the share capital of companies include the following-. Salvation House Llmlted Re8lStered office: UK Nature of buslness- Provision of conferencin8 facilities Re8lStered Company Number-, 08433451 Class of share: Ordinary holding loo 31.3.24 31.3.23 Aggregate capital and reseNes 10.906 10,906 Page 19 continued...
Revivall preVIolY known as Salvatlon for the Natlons International Churches Notes to the Financial Ststements- contlnued forthe Year Ended 31 March 2024 12. FIXED ASSEf INVESTMENTS- continued The investment represents the cost of a l(KJ% holding in Salvation House Limrted, company number 08433451, an unlisted company which operates conference and parking facilities at the church's premises. The turnover for the year ended 31 March 2024 was £17.50012023: £21,700). Result for the year was £Nil12023: £Nill. The capital and reserves of the company as at 31 March 2024 were £10,906 {2023: £10,906). At 31 March 2024 Revivall owed £9,353 {2023: £4,228 was owed to Revivall from Salvation House) to the company of Salvation House Limited. DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.3.24 31.3.23 Amounts owed by group undertakings Other debtors Gift aid receivable Prepayments 4,228 11.341 10.071 2,331 11.341 10,071 108,545 129,957 27,971 14. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 31,3,24 31.3.23 Bank loans and overdrafts (see note 161 Trade creditors Amounts owed to group undertakin85 Social security and other taxe5 Other creditors Accruals and deferred incorne 22,043 937 9,353 20.492 901 4,509 5.053 5.397 4.256 5.397 46,474 36.352 Page 20
Revivall prevlously known as Safvatlon for the Natlons International Churches Notes to the Financial Statements- contlnued for the Year Ended 31 Pllarch 2024 15. CREDrroRS: AMOUNfs FALLING DUE AFTER MORE THAN ONE YEAR 31.3.24 31.3.23 Bank loans (see note 16) 764.294 784,488 16. LOANS An analysls of the maturity of loans is given below: 31.3,24 31.3.23 Amounts falling due within one year on demand- Barclays bounce back loan Unlty Trust mortgage 10,000 12,043 11,068 9.424 22.043 20.492 Amounts fallin8 due between two and flve years: Bank loans- 2-5 years 14,167 19,596 Amounts fallin8 due in more than five years: Repayable otherwise than by instalments: Bank loans 750,127 764,892 17. SECURED DEBTS The following secured debts are included within creditors., 31.3.24 31.3.23 Bank loans 786,337 804.980 Included within creditors falling due within one year and after more than one year is a 10 year bank loan from Unity Trust Bank totalllng £762.170 {2023.' £774,212) with the initial repayment being set over 30 years with interest tharged on the loan at a rate equal to Unity Trust Bank's base rate plus 2.5%, subject to a minimum rate of 4% per annum. The loan is secured by a first legal charge over 2 Sterling Court and assignment of Key Person cover on the life of Rev Bradley Norman, limited to £350,000. Included within creditors falling due after more than one year is a 6 year Bounce Back loan from Barclay5 Bank totalling £24,16712023,- £30,767) with interest of 2.5% per annum fixed for the duration of the loan. The loan 15 unsecured. Page 21 continued...
Revivall prevlously known as Salvatlon for the Nations International Churches Notes to the Financlal Ststements - contlnued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS Net movement In funds Transfers between fund5 At 31.3.24 At 1.4.23 Unrestrlcted funds General fund Building fund Fixed assets 188,924 491,936 54,194 166,8551 43,325 121,6351 121,6901 165,394 470,301 32,504 735,054 166.8551 668,199 TOTAL FUNDS 735,054 166.855) 668,199 Net movement in funds. included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 942,107 11,008,962) {66.8551 TOTAL FUNDS 942.107 11.008.962) (66,8551 Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestrlcted funds General fund Building fund Fixed assets 107,302 455,168 42,929 81,622 36,768 11,265 188,924 491.936 54.194 605,399 129,655 735.054 TOTAL FUNDS 605.399 129.655 735,054 Page 22
Revlvall prevlously known as Salvation for the Nations Internatlonal Churches N•)tes to the Flnanclal Statements- continued forthe Year Ended 31 March 2024 18. MOVEMENT IN FUNDS- continued Comparatlve net movement in funds, included in the above are as follows: Incomin8 resources Resources expended Movement in funds Unrestrlrted funds General fund Buildingfund Fixed assets 945.739 36,768 11,265 {864,1171 81.622 36,768 11.265 993,772 1864,1171 129,655 TOTAL FUNDS 993,772 1864.1171 129,655 The designated Bulldlng fund represents the net book value of the building, Unlt 2 Sterling Court, Mundells, Welwyn Garden Clty, Herts, AL9 7Ff, net of the outstanding amount of the loan for the purchase of the building. The designated Fixed Assets fund represents the net book value of the assets held. 19. RELATED PARTY DISCLOSURES During the year the charitable company received donations totallin8 £Nil12023.' £10,000) from Salvation House Limited, its subsidiary company. At 31 March 2024 £9,353 {2023: £4,228 was due from Salvation House) was owed to Salvation House Llmited In respect of Conference venue fees and internal recharges, During the year donations totalling £6,575 (2023- £101,cKKI} were received from the trustee5 of the charitable company. There were no other related party transactions during the year ended 31 March 2024 {2023: None). 20. RECONCILIATION OF NET {EXPENDITURE)/INCOME TO NEf CASH FLOW FROM OPERATING AcfiviTIES 31.3.24 31.3.23 Net {eKpenditurel/income for the report5ng perSod las per the Statement of Nnanclal Artlvltlesl Adjustments for: Depreciation charges IlncreaseJ/decrease in debtors Increaselldecreasel in creditors 166.855) 129,655 45,898 1101,9861 10,122 44,619 27,424 195,560) Net cash (used inllprovided by operations 1112,8211 106,138 Page 23 continued...
Revlvall previously known as Salvation for the Nations International Churches Notss to the Flnancial Statements - contlnued for the Year Ended 31 March 2024 21, ANALYSIS OF CHANGES IN NET DEBT At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank 216,76CI 1144,767) 71.993 216,760 1144.767) 71,993 Debt Debt5 falling due within I year Debts fallin8 due after l year 120,4921 1784,4881 11,5511 20,194 122,0431 1764,2941 (804,9801 18,643 1786,3371 Total 1588,2201 {126,1241 1714,3441 Page 24