REGISTÉRED COMPANY NUMBER: 04897890 (England and Wales) REGISTERED CHARITY NUMBER: 1101870 Revlvall R•port of the Trustees •nd Consolldat•d Flnancl•l Stat•ments lor the Year Ended 31 Mar.24 6.96% Oulr 3S.19% 25.20V• j 57.8S% 15.$116 Revlvall Report of the Tfustees lor the Year Ended 31 Mar¢h Z015 Stalement of acceptante The 8oard of trusteeldirectors conslder that with.. A sustalned average year-on-year annual cash reserve5 Ilquldlty variation of 36.57% and 56.79% across the precedin8 five-year fiscal period A ratio of year-end cash reseThes liquidity to annual operatin8 expenditure of 8.94% with 3 19.52% average acrass the preceding five-year fiscal period The current quantum and liquidily of the retained cash reserves there are no material uncertainties about the charlty's ablllty to contlnue as a 8oin8 concern. Apparent rlsks Identlfied The rapid expansion of the Charity will require ihe acquisition of further property Sn the immediate future. requlrln8 sl8nific3nt financial investment lo facilllate additional campuses. These Trustee-approved costs. havinB been consldered 8alnst appropriate quotations. whilst being addition31 expenses. are beneficial upgrades to the Charity's property portfolio, increasing the value of each in¥e5tment and providin8 crucial operational benefits to the local churches and community programme5. LOOKING FORWARD TO 2025126 The Charity'5 planned expansion pro8ramme includes additional campuses in Bath, Kendall, 8edford and Dundee to meet the need for new church plants atross the UK. A full-week conference is scheduled forjune 2026, brlnginB together all those from the varlous campuses, followed by two addltional 3-day conference5 durin8 the year. These key events are considered necessary movin8 lofward to ensure sufficient connectivity for all people across the United Kingdom and international partners. The roles and responsibilities of the Senlor Pastors, along with those of other senior staff, will need to be adjusted lo accommodate the Charity's broader reach. There are also plan5 10 si8nificantly increase the number of full-time students at the RBI Blble College. The antlclpated Increase w511 provlde addilional resources to support the Chèrlty's programmes across Its campuses and locations. STRucfvRE, GOVERNANCE AND MANAGEMENT Gov•rTrln8 do¢umeffl¢ The charity is controllèd by its 8overnlng document, the Memorandum ind Articles of Association, and ¢onstltuies a limlted company, limited by guarantee, as defined by the Companies Act 2006. The followln8 were dlrectors for the purposes of company law, and trustees for the purposes of charlty law, during the year and since the year end.. Mr Canute Freckleton Mr Alan Hayllar Mr Aldywn Radmore Mr John Colllns Mr Babafemi Lucas R•crultm•nt and S•l•ctlon Revivall has a careful and 5VStematlc recruitment & selectlon system The charity has a diverse board of TrusteeslDirectors in skill, experience and 8iftin8. Truslees/Direclors are appointed and/or removed from office in consultation with the senlor pastors. Dr Bradley Norman and Rev Wyona Norman. The charity'5 board undertakes a Disclosure & Barring Scheme IDBSI check for each director to ensure thal they are eligible to act. Revlvall Report ol the Trustees fiyr the Year Endèd 31 Marth 2025 5TRucfuRE, GOVERNANCE AND MANAGEMENT All members of the board of dirertOfs/trustees are obliged to comply with 'The Code ef Conduct" and "Access to nd Privacy" policies. Key management remuneration is provided on a discretionary basis. Tralnlng Members of the board regularly undertake research on varlou5 querles and share the Informatlon with the other directors, providine copies of documents to each director who utilise the advice and guidance. As Chalr, Ken Freckleton provlde5 dlrectlon, 8uidance and support to the other Trustees. The director5 substribe to various bodies to acquire knowledge and keep abreast of new developments. Inducllon Revivall Seeks to offer a comprehensive induction programme during which new directors are provided with the key Information which they need to run the charity. The charlty provide5 new dlrectors with relevant Infomiatlon. For example, new directors are provided wlth copies pf minutes of previous meetings as well as governance information pertinent to the vision. aims. objectlvts, purposes and pollcy of the charSty as part of the Induction process, Public benellt The directors have considered the Charity Comm1551on's gener31 guidance on public benefit and, In particular, the speclnt 8uidance on charlties for the advancement of rell8ion, when reviewing the charlty's alms and objeclives and in plannin8 future activities. The directors have, In thelr vlew. met thè publlc beneflt requlrement by holdln8 a varlety of events whlth #re opèn to the general public and which seek, in accordance with their vision, to trènsform Ilves and thus enable people to Ilve as responsible citSzen5 in their community. The vision, mission and values of the tharity along with the vea¢s objectives, activities and achtevements are set out in thls report. STATEMENT OF TRUSTEES, RESPONSI8IUTIES The trustees (who are also the dlrectors of Revlvall for the purposes of company lawl are responslble for preparin8 the Report of the Trustees ènd the financlal statements in accordance with applicable law and United Kln8dom Accounting Standards (United Kingdom Generally Accepted A¢¢ounling Practice). Company lèw requires the truslees to prepare financial statements for each financlal year. Under that law, the trustees have elecled to prepare the financial statemen15 in occordance wlih United Kingdom Generally Accepted Accounting Piactlce Iunited Kin8dom Accounting Standards and applicable lawl. Re¥lv•ll Report ol the Trtsstees lor the Year Ended 31 M•r¢h 2025 Under company law the trustees must not approve the financial statements unles5 they are satisfied that they give a true and fair view of the stale of affair5 of ihe chariiable company and of the intomln8 resources and application of resources, Including the Income and expenditure, of the charitable company for thol period. In preparin8 those financial statement5, the trustees are required to select suilable accounting policie5 and then apply them consistently. observe the methods and princlples in the Charilies SORP; make judgements and estimaies thal are reasonable and prudent,. state whether applicable accounting standard5 have been followed. subject to any materlal departures dlsclosed and explalned In the flnanclal statements. prepare the financial staiements on the going concern basi5 unless it Is inapproprlate to presume that the charitable Company will continue in business. The Iru51ee5 are responsible for keepin8 proper accounting records which dlsclose with reasonable accuracy ot any lime the financial posltlon of the chariiable tompany and io enable them to ensure that the financial slalement5 comply wilh the Companies Act 2006. They are also responsible for 53feguarding the assets of the charitable Company and group and hence for takin8 reasonable step5 for the prevention and detection of fraud and other irre8ularities. In so far a5 the trustees are awafe.. Ihere is no relevant audit informalioft of which the charitable company's auditors are unaware,. ar)d the trustees have taken all steps that they ought to have taken to make themselves aware of any rèlevani audlt information and to establish that ihe auditors are aware of that infomation. Th15 report has been prepared In accordance wlth the current Stalemenl of Recommended Practlce Accounting and Reporting by Charities and in accordance with the speclal piovislons of Part IS of the Companies Act 2006 relatin8 to smaller entities. AUDITORS The audltors, DUX Advisory Limited. will be proposed for re-appolntment at the forthcomlng Annual General Meetin8. Report of the tru5t￿e&ll￿88￿r31Ing a strate8ic report, approved by order of the board of trustees. as the company directors. on and 518ned on the board'5 behalf by: Mr C D Freckleton - Trustee Report ol the Independent Audllors to the Membets of Revlvall Oplnlon We have audited the tonsolidated financlal Statements of Revivall Ithe'charitable company'l and its subsldiary I'the group'l for the year ended 31 Maich 202S which comprise the Consolidated and Charity Statement of Financial Activities, Consolidated and Charity Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial stalements. including a summary of significant accounting policies. The financial reporting framework that h35 been applied In their preparation is applicable law and United Kingdom Accoufttin8 Staftdards Iunited Kingdom Generally Accepted Accountin8 Practice). In our opinion the financial statements.. 8ive a true and fair view of the state of the group's and of the parent charivs affairs as at 31 March 2025 and of the Broup's and Charity's result for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted A¢¢ounting Pradi¢e,' and have been prepared in accordance with ihe requiremenls of ihe Compènles Act 2006. easls for •pinlon We conducted our audit In 3ccord•nce with Internatlonal Standards on Audilin8 IUKI IISA5 IUKII and applicable law. Our responsibilitles under those standards are further described In the Auditors, responsibllltles for the èudlt ol the financial statements sectlon of our report. We ore independent of the charitable company and group in accordance with the ethical requirements that are relevant to our audit of the finantial statements in the UK, including the FRC'S Ethic31 Slandard, and we have fulfilled our othef ethlcal responsibilities In occordance wlth these requirements. We belleve that the Judlt evidence we hove obtained is sufficient and approprlate io provide è basis for our opinion. CoTh¢lu51ons rel•tln8 to lolni ¢onc•rn In auditin8 the financial statement5. we have concluded that the truslees. use of ihe goin8 concern bas15 of accounting In the preparation of the financial statement5 Is approprlate. Based on the work we have performed, we have nol identified any material untertainties relating to events or conditions that. indNidually Of collectively, may cast s18niflcant doubt on the charitable company and group'5 ability to conlinue as a goln8 concern for a period ol at least twelve months from when the flnancial statements are authorlsed for155ue. Our responsibilities and the responsiblllties of the trustees wlih respect to 8oin8 concern are described In the relevant seciions of this report. Othèr informatlon The trustees are responsible for the other information. The other informatlon comprlses the informatlon included In the Report of the Trustees, other than the financial Statements and Ouf Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the oiher information ènd. except to the extent othen¥ise expli¢itlv slated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the finanti31 statements, our responsibility is to read the other information and. in doin8 $0, consider whether the other Information is materially inconsi5tenl with the financial statements or our knowledge obiained in the audit or otherwise appe3r5 to be materially misstated. If we identify such material incon515tencles or apparent material misstatements. we are required to determine whether ihis gives rise to a material misstatement in the financial statement5 themselves. Il, based on the work we have performed, we ¢onclude that there is a material misstatement of this other inlormalion, we are required to report that fact. We have nothing to report in this regafd. Report of the Independent AudIt0￿ to the Membets ot Revlvall Oplnlons on other mattels prescrlbed by the Companles Art 2006 In our opinion, based on the work undertaken in the course of the audit.. the informalion given in the Report of the Trustees for the financial year for whbch the financial slaiements are prepaied Is conslstent wlth the financial statements,. and the Report of the TrLtrStees ha5 been prepared in accordance with applicable legal requlrements. Matters on which we are requlied to report by exceptlon In ihe light of the knowled8e and understanding of the charitable company, group and Its envlronmeni obtalned In the course of the audit. we have not identified material misstaiements in the Report of the Trustees. We have nothln8 ¢0 report in respert of the followin8 matter5 where the Companles Act 2006 requlres us to report lo you if, in our opinion.. adequate accounting records have not been kept or returns adequaie for our audit have not been received from branches not V151ted by us.. or the financi315tatement5 are not In agreemenl wlth the ac¢ountlns records and reiurns; or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanation5 we requlre for our audit. other matt•rs- ylor p•rbod flnanclal $t•t•m•Tht5 un•udlt•d The financial statements of Revivall for the year ended 31 March 2024 were not audited. The corresponding figures shown in the current year's financial statements have been derived from those unaudited financial statements. Our opinion on the current year'5 financial statements 15 not modified in respect of thls matter. Responslbllllles of irustees A5 explalned more fully in the statement of Trvstees, Responsibilities, the truslees (who are also the directors of the charitable company for the purposes ol company lawl are responsible for the preparallon of the flnancial statements and for bein8 Satisfied that they give a true and falr view, and lor such Internal control as the trustees determinels necessary to enable the piep3ration of financial statements that are free from mèterial misstatement, whether due to fraud or error. In preparing the financial 51atemen15, the irustees are responsible for 3ssesslnB Ihe charltable company and group's ablllty to continue as a goin8 concern, disclosin8, ès applicable, matters related to going concern and using the going concern basls of accountin8 unless the trustees either intend lo liquidate the charitable company or to tease operations, or have no Tealistic alternative bul to do $0. Our responsSbllltles for the audlt of tht fln*nelal statements Our objeclives are to obtain reasonable assurance about whether the finantièl statements as a whole ère free from materièl m155tatemenl. whether due to fraud or error, and to Issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect 3 material misstatement when it exists. Misstatements can arise from fraud or error and are considered material If, individually or in the a88re8ale, they could reasonably be expected to Influence the economlc declsions of users taken on the basls of these linancial statements. Report oflhe Independenl AudltOfS to the M•mbevs of Revlvall The extent to which our procedures are capable of detecting irregularities, Includlng fraud Is detailed below.. We obtained an under5tandin8 of the legal and regulatory fr3mework5 applicable ¢0 the charitable company and 8roup and the sector in which it operates. We determined that the following laws and regulatlons were m05t siEnific3nt: Companies Act 2006, UK GAAP. the UK Corporate Governance Code and the Data Protection Act. We obtained an under5tandinB of how the charitable company and 6roup is complyin8 with those le8al and re8ulatory frameworks and made enqulries to the management of known or 5U5pected instances of fraud and non. compliance with laws and regulations. We assessed the susceptibility of the charity and group's financial st3lements to material misstètement, including how fraud mi8ht occur. Audit procedures performed by the audit team included.. Identifying and assessing the controls management has in place to prevent and detect fraud. Understanding how those char8ed wlth governance considered and addressed the potential for overrlde of controls or other Inappropriate influence over the flnancial reporting process,. o Challenging assumptions and judgments made by management in its Si8nificant a¢¢ountln8 estlmates and judgments. Identifying and testlng lournal entries, in parllcular lournal entries posted with unusual account combinations. and o Assessin8 the extent of compllance with the relevant laws and re8ulations. There are inherent limitations in ihe audit procedures described above and the further removed non-tompliance with laws and regulations are from the events and transaCtIons reflected in the financial Statements, the less likely we would become aware of It. Also, the rlsk ol not detectln8 a mater131 mi55tatement due to Iraud Is higher than the rlsk of noi detectin8 one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or ntenllonal misrepresentatlons, or throu8h colluslons. A further descriplion of our responsibilities for the audit of the financial statements 15 located on the Financial Reportin8 Councll's webslte at www.frc.org.uklaudltorsresponsibllltie5. This destriptlon lom15 part of our Report of the Independent AudltQTS. Use of our report Thls report Is made solèly 10 the charltablè tompany's members, as a body, In accordance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work hès been undertaken so thèt we mi8ht Slate to the charitable company's members those matters we are required to State to them In an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responslbllity to anyone other than the charltable Company and the charitsble company's members as a body, foi our audit work. for this report, or for the opinions we have lormed. James Foskett Bsc FCA DCHA (Senior Statutory Auditor) for and on behalf of DUX Advisory Limited Ch?rtered Accountants and Statutory Auditors Kennel Club House Gatehouse Wav Aylesbury Buckinghamshire HP19 8D8 J811212025 Date.. R•vlvall Charlty Statement of Flnanclal Acli¥ilies tor thé Year Ended 31 March 2025 31.3.25 Total funds 31.3.24 Total funds Notes INCOME ANO ENDOWMtNT5 FROM Donations and le8acies 1.036,418 929,383 Charitable activities Church activities 7.522 12,724 Investment Income 28 1,043,968 942,107 expENDITURE ON Charltabl• artlvltles Support Costs General artivities Venue costs Éducational costs World mlsslon Local mi55i0n Governance cost5 Other 207.384 190.229 214.601 5,689 37,877 136.999 32.673 271,S20 422,219 232,749 167,295 8,911 59,677 28,502 15,679 73,930 Totsl 1,096,972 I.IX18,962 NET INCOMEIIEXPENOITUREI 153,0051 166,8551 RECONCIUATION OF FUNOS Total funds brought forward 668,199 73S,054 TOTAI FUNOS CARflIEO FORWARD 615,194 668,199 The statement of financial activities includes all gains and losses recognised in the year. All Income and expenditure derive from continuin8 activitles. All iransactlons are unrestilcted. The note5 form part of these financial stalements IOIPa8e Revlvall Consolldated 5talement of Financial Acti¥lties tor the Year Ended 31 March 2025 31.3.25 Total funds 31.3.24 funds Notes INCOME AND ENDOWMENTS FROM Donations and le8acies 1.198.850 929.383 Trading income 1.460,112 17,500 Ch*vllable artl¥It￿$ Church activltits 7,522 12,724 Investment income 28 Tot•1 2.666,512 959,607 EXPENDITURE ON Ch•ritabl* a¢tl¥lties Support Costs General actlvlties Venue costs Educational costs World misslon Local mission Governance cos15 Conference expense Other 482,842 224,545 214,601 5,689 37,879 136,999 35,983 1,580,329 650 482,567 282,648 145,387 8,912 59,677 28,502 18,769 Total 2.719,517 1,026,462 NET INCOMEIIEXPENDITURE) 153,0051 166,8S51 RECONCILIATION OF FUNOS Total funds broy8ht forward 679,104 745.959 TOTAL FUNDS CARRIED FORWARD The 5tatemenl of financial actlvlties includes all Bains andlosses recognised In ihe year. All income and expenditure derive from continuing activities. All transactions are unrestrlcted. The notes form part of these financial statements Revivall Charity 8#l•nce Sheet ai Mawch 2025 31.3.25 31.3.24 Notes FIXED ASSETS Tangible assets Investments li 12 1.249,543 1,277.016 1,249.S44 1.277.017 CUIIRENT ￿SET$ Debtors Cash at bank 13 42,466 134,421 129,957 71,993 176,887 201.950 CREDITORS Amounts falllng due wlthin one year 14 171,4841 146,4741 NET CURRENT ASSETS 105,403 155,476 TOTAL ASSETS LESS CLIRAeNT LIABILITIES 1.354,947 1,432.493 CREDITOR5 Amounts fallin# due after more than one year 14 1739,7531 1764.2941 NET ASSETS 615,194 668,199 FUNDS Unrestricted funds 18 615,194 668.199 TOTAL FUNDS 615,194 668,199 1811212015 The flnanclal statements were approved by the Board of Truslees and authorised for i5sue on and were signed on its behalf by.. MT C D Freckleton - Trustee The notes form part of these financial statement5 Revlvall Consolidated Balance Sh••t 31 March2025 31.3.25 31.3.24 Notes FIXED ASSETS Tangible a55ets li 1.257,329 1,282.541 1.257,329 1,282,541 CURRENT A55ETS Debtors Cash ai bank 13 43,183 134,878 130.173 71,974 178,061 202.147 CREDITOR5 Amounts fallin8 due within one year 14 169,5381 141,2901 NET CURRENT ASSETS 108,523 160,857 TOTAL ASSETS LESS CURRENT LIABILITIES 1.365,852 1,443,398 CREDITORS Amounts fallin8 due after more ihan one year 15 1739,7531 1764.2941 NET ASSETS 626,099 679.104 FUNDS Unrestrlcted funds 626,099 679,104 TOTAL FUNDS 626.099 679.104 181121202J The financial statements were approved by the Board of Trustees and authorised for issue on and weie signed on its behalf by.. Mr C D Freckleton - Trustee The notes form part of these financial statement5 131Page Re¥lvall Consolidated Cash Flow Statement for the Year Ended 31 March 2025 31.3.25 31.3.24 Notes Cash flows from operJtln8 adl¥ltl•s Cash generated from operations 21 103.152 1118,8051 Net cash prc>vldÈd byllused Inl operatlng activitie5 103,152 118,8051 sh flows Irom Inveslini artlvltl•s Purchase of tangible fixed assets Sale of tangible fixed assets Interest received 133,5881 9,350 28 111.7521 Net cash used in investin8 activities 24.2101 11,7521 Cash flows fiom flnonclni actlvllles Capital fepaymenis in year 16,0381 20,1941 Net cash provided byllused Inl financing activitles 16,0381 120,1941 Chan8e In cash and cash equlvalents In ihe reportlnq perlod 62,904 {150,7511 C•5h and cash equlvalents at the bt8lnnl olthe reportlng perlod 71.974 222,725 C•$h •nd osh egubvalents at the •nd ol ihe reportlng perlod 134.878 71,974 The note5 form part of these financlal statements 141Page Revivall Notes to the Finan¢lal Statements for the Year Ended 31 March 2025 ACCOUNTING POLICIES Basls of preparlng the finan¢l•l stalements The rtnancial statements of the charitable company aftd group. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities preparing thelr account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191,, Financial Reporting Standard 102 'The Financi31 Reportin8 Standard applicable in the UK and Republic of Ireland, and the Companles Act 2006. The financial slalements have been prÈpared on a 8oin8 concern basis under the historical ost conventlon, modified to Intlude certaln Items at fair value. The si8nificant accountin8 policies opplied in the preparation of these financial siatements are set out below. These policie5 have been consistently applled to all years presented unless otherw15e staled. The flnanclal statements are prepared in sterllnB whichls the fun¢tional currency of the charitable company and group and been rounded to the nearest Él. Golni ¢on¢ern At the tlme of approvln8 the financSal statements. the Trustees have a ieosonablÈ expettatlon that the charitable company and 8fOUP has adequate resources to ¢ontlnue In operational existence for the foreseeable future. Thus the Tfustees continue to adopt the 8oin8 concern basis of accountlll8 in preparing the financ•al st3lementS. Pr•p•r•llon ol ¢gnsolldat•d flnan¢l•l $l•t•m•nts The financial statements contain informalion about Revivall as an individual charity and consolidated financial Information as the parent of a 8roup comprisln8 the charitable company and the wholly owned subsldiaryi Salvallon House Llmlted. Income All income Is recognlsed in the St3temeni of Flnantial Actlvitles once the charitable company and group has eniitlement to the funds, It 15 probable that the income will be rèceived and the amount tan be measured reliablv. The tax recoverable on gift aid receipts is accounted lor at the same time as the receipt. Income which 5pecificallv relates lo expenditure to be Incurred in a future period is shown as deferred income. Rental income and interesl recèivable are accounted for on an a¢cruals basis. The market value of glfts In klnd. Includlng the provislon of facilitie5 at no charge or al a reduced cosL Is estlmated by the trustees and when material thi5 value 15 crediied to the Statement of Finantial Activities wlth a corresponding amount bein8 included in the relevant expendlture headin8. Expendilure Liabilities are recogn15ed as expendlture as soon as therè is a legal or constructlve obligation committing the charitable company and group 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 reliably. Expenditure is 3ccounted lor on an accruals basis, inclusive of VAT which cannot be recovered, and has been classified under headings that aggregate all cosis related to the category. Where costs cannot be direclly attributed lo partlcular headings they have been allocated io activities on a basis conslstent with the use of resources. The charitable company and group's operatin8 Costs include staff costs, rent and other related costs. Such costs are allocated to expendlture in respect of charitable artivitles. Other costs have been allocated to approprlate cost headings. 151P38e Revlvall Notes to the Flnan¢lal Statements- cantlnu•d for the Year Ended 31 March 2025 ACCOUNTING POUCIES- continued Tan£lble Ilxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any imp3irment105ses. Oepieciatlon Is recognSsed so as to write off the cost or valuation of assets less thelr resldual values over their useful lives on the following bases.. Lon8 leasehold land and buildln8S Plant and equipment Computers Motor vehlcles 2% 15-25% 15.25% 33% The gain or loss arislng on the disposal of an asset 15 determined as the difference between the Sale proceeds and the carryin8 value of the asset, and 15 recognlsed In the Statement ol financial actlvltles. Indlvidual items of equipment or furnlture are capitalised when the purchase price is £1,000 or more. During the year some of the deprecialion rates and residu31 values were reviewed and adjusted. Thi5 adjustment include5 depreclatlng the leasehold property and molor vehicle5 on the basis that they would have a residual value at the end of ¢heir uselul Ilfe. Long leasehold Land is not depreclaled. Taxatlorn The charity 15 exempt from corporatlon tax on its charitable actlvities. Fund accountlni Unreslricled funds can be used In a¢¢ordan¢e with the ¢haritèble objectlves at the dlscretion of the trustees. Restricted lunds can only be used for particular restricted purposes wlthln the objects of the charity. Restrictions arise when Specified by the donor or when fund5 Ire raised lor particular restrlcted puipose5, Further explanation of the nature and purpose of each fund is Included in the notes to the financial statements. Penslon wsts •nd other post￿*tIreM+rt¢ benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company'5 pension scheme are charged to the Statement of Flnancial Actlvlties in the period to which they relate. Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call wth banks, other short-teim liquid investment5 with original maturities of three month5 or less. 3nd bank overdrafts. Bank overdrafts are shown within borrowln8S in Current liabilities. FSxed asset Investments Fixed as5el investments are initlally measured at transaction price excludin8 transactlon costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net Incomellexpendilurel for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charitable company. Control is the power io govern the financial and operatin8 policies of the entity $0 as to obtaln benefits from it$ activilies. 161 Page Re¥l¥all Noles to Ihe Flnancial Statements- contlnued lor the Year Ended 31 M*rth 2025 ACCOUNTING POLICIES- contlnued Key Sou￿¢ of esllm•tlon, uncert•lnty •nd luduemenl The preparation of the financial statements in conlormity with general accepted accounting practice requires managemènt to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disc105ure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting period. There 15 estlmalion uncertainty in calculatinB depreciatlon, as monthly ¢alculoiions are based on the estimated useful life of assets. Whilst every attempi is made to ensure that the depreclation policy Is as accurate as Posslble, there remains a risk that the policy does not match the useful life of the assets. There Is estimation uncertalnty in calculatin8 bad debt provlsiofts. A full Ilne by Ilne review of trade debtors is carrled oul at the end of each monih. Whi15t every attempt is made to ensure that the bad debt provisions are a5 accurate a5 Possible, there remaln5 a risk that the provlslons do not match the level of debts whlch ultimately prove to be uncoll￿tab1e. DONATIONS AND LEGACIES Charlty 31.03.25 Group 31.03.25 Charlty 31.03.24 Group 31.03.24 Gllts and offerlngs Tax reclaimed 923,813 112.605 1,036,418 1,086,245 112.605 1,198,850 804,137 125,246 929,383 804,137 125,246 929,383 TRADING INCOME Charitv 31.03.25 Group 31.03.25 Charity 31.03.24 Group 31.03,24 Income from Car park Income from RMI 15,487 1,444,625 1,460,112 17,500 17.500 17,500 17,500 INVESTMENT INCOME Group & charltv 31.3.25 31.3.24 Oeposit account Interest 28 171Page Re¥lvall Notes to thq Financial Statements. continued for the Year Ended 31 March 202S INCOME FROM CMARITABLE AcfiviTIE5 Group & charlty 31.3.25 31.3.24 Activity Church activitie5 Church aclivities 7.522 12.724 CHARITA8LE AcfiviTIES COSTS 31.3.25 Group 31.3.24 Group Charlly Charity Support costs General actlvltles Venue c05ts Educational costs World mlsslon Local mission Governance costs Conference expenses Other cost5 482,842 224,545 214.601 5,689 37,879 136,999 35,983 1.580.329 6S 207.384 190,229 214.601 5,689 37,877 136,999 32,673 482,567 282,648 145,387 8,912 59,677 28.502 18.789 422.219 232,749 167.295 8,911 59,677 28,502 15,679 271 S20 NET INCOMEIIEXPENDITUREI Net income/lexpendlturel is stated after char81n￿{CredItfjft0l. 31.3.2S 31.3.24 Depreciation- owned assets Loss on disposal of fixed asseis Auditorfs renumeration Independent examinerfs remuneration oiher fees paid io audiiorlindependent examiner 43,061 650 21,000 45,898 4,260 11.419 11,673 TRU5TEES' REMUNERATION AND BENEFITS There were no trustees, remuneration or other beneflts fof the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no trustees, expenséi pald for the year ended 31 March 2025 rior foi the year ended 31 March 2024. 181PaEe Re¥ivall Notes to the Financial Slatemenls . continued forthe Year Ended 31 Marth 2025 STAFF COSTS 31.3.25 31.3.24 Wages and salaries Social security costs Other pension c05t5 433.712 45,134 3,996 433.998 44.504 4.065 482,842 482.567 The avera8e number of employees durin8 the year was 1312024.. 121. The number of employees whose employee benefits lexcludSn8 employer pension costs) ÈxtÈeded £60,000 was.. 31.3.25 31.3.24 70,000-79,999 80,000-89,999 Key mana8ement personnel Is consldered to conslst ol the Trustees, the Senior pastors, Chief Operations Mana8er, Facilities Coordinator and one of the Pastors. The total remunefatlon pald to Key Managemenl in the period was £329.26712024.. £322,025) io. COMPARATIVES FOR THE CONSOLIDATED STATEMENT OF FINANCIAL AcfiviTIE5 Unreslricted funds INCOME AND ENDOWMENT5 FROM Donations and legacies Tradin8 income 929,383 17,500 Chartt•ble actl¥ltles Church activities 12,724 Tot•1 959,607 EXPENDITURE ON Charllable actl¥ltl•s Support Costs General activities Venue costs Educational costs World mission Local mission Governance cost5 482,567 282,648 145,387 8,912 S9,677 28.502 18,769 Totsl 1,026,462 191Page Revl¥all Notes to the Financlal 5tatements- continued for the Year Ended 31 MaT wlth interest char8ed on the loan at a varlable rate 6.2%. The loan is secured by a first legal charge over 2 Sterllng Court and a55i8nment of Key Person cover on the Ilfe of Rev 8radley Norman. limited 10 £175,0(K). Included wlthln Cfedltor5 falllnB due after more than one year Is a 6 year Bounce 8a 166,8551 The desl8naled Buildlng fund represents the r)ei book value of the buildin8, Unil 2 Sterlin8 Court. Munde115, Welwyn Garden Clty, Herts, AL9 7￿. net of the outstanding 3mount of the loan for the purchase of the building. The de518nated Fixed Assets fund represents the nei book value of the assets held. 25IPage Re¥lvall Nole5 to the Fin•nclal Statement5- COlltinu•d for the Year Ended 31 March 2025 20. RELATED PARTY DISCLOSURES During the year the charitable company received donations totslling ÉNil 12024.. £10,000) from S3lvation House Ltmiled, its subsidiary company. At 31 March 2025 £4,76412024.. É4,228 was due from Salvation House) was owed to Sèlvation House Llmlted In respect of Conference venue fees and internal recharges. Ouring Ihe year donations tolallin8 £38.15012024'. £101,0001 were recelved from the trustees of the charitable company. There were no other related party transactions durin8 the year ended 31 March 202512024: None). 21. RECONCILIATION OF NET INCOMVIEXPENoifuREI TO NET CASH FLOW FROM OPERATING AcfiviTIE5 31.3.25 31.3.24 Net Incomellexpendlturel for th• r•portlni perlod las per St•lwn?nl ol Finaftclal Artlvltlesl Adlustmenls for: Depretiation charges Lo55 on disposal of lixèd assets Interest received Oecreasellincreasel In deblors Increase in credltors 53,005 166,8551 48,799 650 1281 86,988 19,748 51,880 1109,6621 5,814 N•t c•sh provlded byllus•d In) op•f•tlons 103,152 118,8051 22. ANALYSIS OF CHANGES IN NÉT DEBT At 1.4.24 Cash flow At 31.3.25 Net cash Cash at bank 71,974 62,904 134,878 71,974 62,904 134,878 Debt Debts lalling due within l year Debts falling due after l year 122,0431 1764.2941 18,5031 24,542 130,5461 1739,7521 1786,3371 16,039 1770,2981 Total 1714,344) 78,943 1635,4201 261Pa8e