ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
CHARITY REGISTRATION No: 1120790 COMPANY REGISTRATION No: 06266029
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
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| REVELATION CHURCH - LONDON | |
|---|---|
| (A COMPANY LIMITED BY GUARANTEE) | |
| CONTENTS | |
| Page 3 | Legal & Administrative Information |
| Pages 4 to 7 | Directors' Annual Report |
| Page 8 | Statement of Financial Activities |
| Page 9 | Balance Sheet |
| Pages 10 to 20 | Notes to the Financial Statements |
| Page 21 | Statement of Cashflows |
| Page 22 | Independent Examiner's Report |
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1120790 COMPANY REGISTRATION NUMBER 6266029 DATE OF INCORPORATION 1st June 2007 START OF FINANCIAL YEAR 1st April 2020 END OF FINANCIAL YEAR 31st March 2021 DIRECTORS THAT SERVED DURING Richard Young (resigned 1st March 2021) THE YEAR TO 31ST MARCH 2021 Rebecca Rundell (ALSO TRUSTEES UNDER CHARITY LAW) Cecily Dryden (resigned 2nd April 2020) Rose Wright (resigned 12th July 2020) Austra Welburn (resigned 1st June 2020) Kerry Baines (appointed 11 November 2020) Malcolm Kyte (appointed 2 March 2021) DIRECTORS APPOINTED AFTER THE David Mance (appointed 1st April 2021) BALANCE SHEET DATE Douglas Hogg (appointed 14th April 2021) GOVERNING DOCUMENT Memorandum and Articles of Association Dated 1st June 2007 OBJECTS 1 . The advancement of the Christian faith worldwide; and 2 . The furtherance of the charitable work of the charity by the advancement of such other charitable purposes as the trustees shall from time to time decide. REGISTERED ADDRESS Revelation Church The Busworks United House North Road N7 9DP BANKERS HSBC Plc. 176 Camden High Street London NW1 8QL INDEPENDENT EXAMINER Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2021
The past 12 months has been challenging within the context of the coronavirus pandemic. For the majority of the year we have had to adapt to different ways of conducting church activities and reaching out to support many vulnerable people in the local community. A number of church members moved out of London (some on a temporary basis) but the core of the church has remained strong.
Sunday services
In March 2020 we had to stop meeting at the London Irish Centre on Sundays. During the course of the year our Sunday services have mostly been delivered online via You Tube and Zoom apart from a brief period in the autumn when we had a limited number of people meeting at the London Irish Centre to participate in a studio style meeting which was also broadcast via You Tube.
In response to the murder of George Floyd and the Black Lives Matter movement we delivered a sermon series with study notes on the theme of diversity.
The biggest change to our online Sunday services happened in February when we created five Sunday ‘Hubs’ with around 15-30 people in each meeting. This has enabled church members to remain more connected in a meaningful way and opened up opportunities for people to lead who otherwise wouldn’t have led in the larger setting.
Other church activities
The midweek small groups (Gospel Communities) have also continued to meet on Zoom along with the weekly prayer meeting and various other leaders meetings. In the first lockdown from March 2020 we added five new midweek small groups which were delivered online. This helped to keep church members connected and supported during a difficult time. One of our responses was to financially support members whose income had significantly reduced, through our 2:45 Fund.
Other online activities have included three Alpha courses (introduction to Christianity); one Freedom in Christ discipleship course; training evenings (including safeguarding); prayer meetings and our young people attended a national youth event online
Staff & church leadership
From March 2020 all staff had to work from home rather than at the office in North Road. We are grateful to the team for adapting so quickly and learning new technical skills to enable them to continue to fulfil their roles. We were able to negotiate a reduced rent for the office space which we were unable to use as well as receive a grant from Islington Council.
This year we have put in place a team of deacons to assist the elders in managing the broad range of activities across the church. The make up of the eldership team remained the same but with the addition of two ‘exploring elders’ who have served alongside the team.
Our connection to Relational Mission (RM) - a group of around 70 churches working together - continues to be strong. One of the Revelation Church elders, Stef Liston, has a growing role in the leadership of this church network. In the past few months we have forged closer links with some of the RM churches in Essex and London.
Training
The Intentional Discipleship (ID) course was forced to go online due to the pandemic but despite that it has been a successful year. We had 21 students from around the UK who were placed with Relational Mission churches for a year of training and serving.
From September the Revelation Church staff team was complemented by two ID students on placement. One specialised in visual design and social media and the other helped to lead our student work and Foodbank. The ID training has been delivered online and despite working remotely, both students have had a successful year and made a great contribution.
The two year LEAD training course also had to operate online and had 93 this year (55 first year students and 38 second year students). We have 3 members of staff involved in running this course, including planning and implementing the teaching programme and the course administration. The attendees come from across the UK, from the Relational Mission network of churches to which we belong.
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REVELATION CHURCH - LONDON
(A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST MARCH 2021
Of the 93 students mentioned above, 11 are from Revelation Church.
An additional course was launched this year for elders and church leaders called ‘Shepherd’ which has also run online with 34 students.
Church planting
In March 2021 we officially launched a church plant into Tottenham. This will be led by one of the exploring elders, Tom Avery. It will remain under the umbrella of Revelation Church until it is established sufficiently to become a separate charity.
We have continued to support other church plants which have been intiated by church members over recent years.
Trustees
There have been a few changes in the trustees team. Richard Young stepped down as a trustee in March 2021 after serving for 12 years. We really appreciate the hard work he has done behind the scenes over the years to establish Revelation Church. Austra Welburn stepped down in June 2020 (19 months service), Rose Wright stepped down in July 2020 (14 months of service) and Cecily stepped down in April 2020 (10 months of service).
The team has been strengthened by the appointment of two more church members and two former church members who now live outside of London. They will no doubt bring a valuable perspective and expertise.
Community Initiatives
Over the last year our work in the community has continued to impact many local people.
Our Christians Against Poverty (CAP) Debt Centre took on 19 clients across the year and had an average caseload of 19 clients at any given time. Five clients became completely debt free during the period. It continues to be an important service with a total of 74 clients becoming debt free since its inception.
The CAP Money course ran on two occasions, in May 2020 and January 2021. The team also linked up with Luminary Bakery (a social enterprise in Camden) to introduce the course to their team in March 2021.
This year our Chalk Farm Foodbank (Trussell Trust) fed a total of 1,463 adults and 756 children by giving out a total of 17,859kg of food (an increase of over 50% on last year). The Foodbank also re-distributed an additional 1,335kg of surplus stock to the Euston Foodbank during the peak of the pandemic to support the wider catchment area.
We are extremely thankful for our team of volunteers that help run the Foodbank on Thursday mornings alongside our Foodbank Manager. They are drawn from local churches, the local community and local companies. We have also introduced a delivery model so that food could be taken to some clients. This model will probably remain in place for a while until government restrictions are eased.
We have been actively looking to move the Foodbank to a more suitable premises because the building at Chalk Farm Baptist Church is unsuitable. That process continues and we are hopeful that we’ll be able to relocate to another church building in the coming months.
The annual Christmas dinner for CAP and Foodbank clients had to be completely re-thought because of the restrictions. The team imaginatively put together takeaway food packages for collection from St. Luke’s Church in Kentish Town who were happy to support this intiative. The event went ahead on December 7[th] . Around 100 people turned up at different planned times on the afternoon to pick up food, extra clothing and other donations. It wasn’t quite the same but at least we were able to do something to express the love of God to our community.
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST MARCH 2021
Finance
One of the best indicators of the health of the church was the remarkable response to our Special Offerings to raise an additional £100k towards the Charities’ objectives and mission. The total raised was just under £117k over the 12 month period, via two special offerings and increased giving.
Total regular giving to Rev Central for the year with gift aid (excluding the Special Offerings and money given to specific restricted funds such as Foodbank, Tottenham or the 2:45 Fund) totalled £293k which is an average of £24k per month.
We ended the year at around 25% under the forecasted budget set out in March 2020 due to reductions / cancellations for events, venue hire, office hire and meetings due to the pandemic and switching to an online presence for much of our activity.
Revelation Church central unrestricted reserves remain strong at £175k and set us up well for the 2021-22 financial year when we anticipate costs rising again as we return to ‘normal’ activities. Monies held across all other Revelation Church accounts and restricted funds (including the Housing fund, RM Training account, Foodbank account, 2:45 Fund, Church Planting, Tottenham, RM Base and London Church Planting funds) stood at £402k on 31[st] March.
RM Training gross income for the year was just over £104k. Actual expenditure for the period was just under £100k. The surplus will be used to invest back in the existing courses.
Foodbank income for the year was just under £100k largely due to generous donations from the public and other organisations throughout the peaks of the pandemic. Chalk Farm Foodbank is in the planning stages of moving to a new venue utilising some of the reserves in order to better serve its clients and the community, so this income will be a huge help in the next season.
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REVELATION CHURCH - LONDON
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021
| Notes INCOME AND ENDOWMENTS FROM: Donations & Legacies 2a Investment Income 2b Charitable Activities 2c Donated Goods 16 TOTAL INCOME EXPENDITURE ON: Charitable Activities 3a Governance Costs 3b Donated Goods 16 TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) Total Funds Brought Forward Transfer Between Funds 4 TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020/21 2019/20 £ £ £ £ 387,356 119,915 507,271 313,797 - 2,142 2,142 1,287 85,760 - 85,760 118,302 - 33,083 33,083 25,609 473,116 155,140 628,256 458,995 354,625 37,254 391,879 422,715 1,908 - 1,908 1,800 - 38,476 38,476 22,994 356,533 75,730 432,263 447,509 116,583 79,410 195,993 11,486 210,683 176,606 387,289 375,803 (44,090) 44,090 - - 283,176 300,106 583,282 387,289 |
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Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 10 to 20 form part of these financial statements.
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(A COMPANY LzMrtED BY GUARAPITEE) AS AT 31ST •IARCN 2021 Company 06266029 T¢)tal 3141aTr21 31&10 Furd5 Cash at Bank and In HaThJ Debtofs & prepayrrts stock 279.204 8.049 298.260 97 2,549 577.464 8.146 2.549 373.813 8.127 7.942 16 287253 300906 588159 389 crad1t0. Annts Oue wlthln Or Year 4.077 471 2.593 283,176 300.106 583,282 387,289 TOTAL ASSEfs le5S Ojrnt Ilablltties 283.176 300.106 583.282 387,289 Low Term UobJlltlÈs 283,176 300.106 583.282 387.289 Funds •)f the thwlty General Funds Restr(cted Funds 283.176 283.176 31KJ.106 210.683 176.606 300,106 Totsl Funds 283.176 The ¢haritable companvs finandal have Frepar In wlth the wovlkn apIcable to mpanles subjert to the crwnles The Directors COnder that the ccthpany bs entytled to exeJnrthi fTDm the r4LMrerrnt to have an audit under the provlsh)ns ol sectlon 477 of the Companles A¢f) aThJ have nct ra]utr the company to obtsln an audlt for the year Sn quesbon In xco10n with seckn 476 c the Att. However, in acCOrthn wlth sKUon 14S of the Charits Att 2011. the acCnts ha¥e ten exam1 by an Indep Examlner whose relrt appears on page 22. accounUThJ records aThJ the prEparttion d financial stateme Signe(l on the5r tha by 01r..---._ . Prfnted Name:
REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
The functional currency of the charity is sterling (£).
Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP.
The charity has opted to prepare its accounts using natural categories.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period.
Material prior period errors
No material prior year errors have been identified in the reporting period.
INCOME
Recognition of Income
These are included in the Statement of Financial Activities (SOFA) when:
-
the charity becomes entitled to the income;
-
it is more likely than not that the trustees will receive the resources; and
-
the monetary value can be measured with sufficient reliability.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
Grants and Donations
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).
Tax Reclaims on Donations and Gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
Contractual Income and Performance Related Grants
This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.
Gifts in Kind
Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.
Legacies
Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
Government Grants
The charity has received government grants in the reporting period.
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report.
Investment Income
This is included in the accounts when receivable.
Donated goods
Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.
EXPENDITURE
Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Governance and Support Costs
Support costs represent the cost of central functions, for example governance costs, payroll administration, information technology. Governance costs are those support costs which relate to public accountability of the charity and its compliance with regulation and good practice.
Employee benefits
Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.
Redundancy cost
The charity made no redundancy payments during the reporting period.
Pensions
The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
1. ACCOUNTING POLICIES (Continued)
ASSETS AND LIABILITIES
Deferred income
No material item of deferred income has been included in the accounts.
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
Legal Status of the Charity
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
There has been no change to the accounting policies (Valuation rules and methods of accounting) since last year.
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021
2. INCOME AND ENDOWMENTS
| Note a) Donations & Legacies Foodbank Income 4 Gifts, Tithes & Offerings 4 Gift Aid Tax Recoverable 4 Grant - Government Covid Support b) Investment Income Bank Interest 4 c) Charitable Activities ID Income Lead Training Income Shepherd Income Sundry and Other Income |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020/21 2019/20 £ £ £ £ - 99,699 99,699 25,182 302,892 17,886 320,778 231,209 74,464 2,330 76,794 57,406 10,000 - 10,000 - 387,356 119,915 507,271 313,797 - 2,142 2,142 1,287 - 2,142 2,142 1,287 29,720 - 29,720 45,654 55,446 - 55,446 71,296 594 - 594 - - - - 1,352 85,760 - 85,760 118,302 |
|---|---|
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021
3. EXPENDITURE
| a) Charitable Activities Note Activities & Events Advertising & Publicity Alpha & Outreach Bank Charges 4 Books & Publications Broadband and Phone Costs Carol Service Christians Against Poverty (CAP) Church House Costs Conference & Events DBS and Safeguarding Equipment Costs Foodbank Costs 4 Gifts & Donations 4 Guest Speakers Hospitality Costs ID Course Fees Insurance Costs Kids and Youth Leadership Training Costs License & Subscriptions Music and Media Office Hire Other Mission Costs 4 Planting Fund 4 Prayer & Pastoral Meetings Printing, Postage & Stationery Relational Mission Salaries & Wages 4,11 Software Costs Student Costs Study Materials Sundays Venue Sundry Expenses Travel & Subsistence b) Governance Costs* Independent Examiner's Fee |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020/21 2019/20 £ £ £ £ 2,254 - 2,254 2,272 120 - 120 352 - - - 114 78 85 163 229 274 - 274 867 969 - 969 763 33 - 33 599 6,243 - 6,243 7,493 31,070 - 31,070 30,680 (978) - (978) 8,923 261 - 261 481 1,938 - 1,938 3,048 8,417 8,417 9,529 1,712 7,280 8,992 7,192 1,380 - 1,380 1,677 262 - 262 4,247 - - - 1,395 943 - 943 612 418 - 418 8,078 1,218 - 1,218 1,782 1,037 - 1,037 746 5,845 5,845 1,701 12,375 - 12,375 15,288 840 2,350 3,190 500 - 5,364 5,364 6,798 629 - 629 4,211 213 - 213 893 27,400 - 27,400 23,400 246,349 13,758 260,107 218,180 3,094 - 3,094 1,807 223 - 223 1,907 79 - 79 2,109 6,934 - 6,934 50,105 373 - 373 222 1,038 - 1,038 4,515 354,625 37,254 391,879 422,715 1,908 - 1,908 1,800 1,908 - 1,908 1,800 |
|---|---|
- 2020/21 reflects a refund received for the Newday conference
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021
4. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| Building Fund Church Plant Fund Foodbank Fund London Church Plant Fund Tottenham Church Plant Fund 2:45 Fund |
Balance Balance 01-Apr-20 Adjustment Income Expenditure Transfers 31-Mar-21 £ £ £ £ £ £ 155,262 - 2,664 - - 157,926 9,968 - 2,003 5,364 259 6,866 - - 132,782 60,766 43,831 115,847 6,937 - 4 - - 6,941 4,439 - 6,709 2,350 - 8,798 - - 10,978 7,250 - 3,728 176,606 - 155,140 75,730 44,090 300,106 |
|---|---|
The Transfers in 2020/21 represent:
£ Church Plant Fund 259 This is £258.75 overseas mission support paid directly from the main bank account, but allocated to the Church Plant Fund. 259 Foodbank Fund 43,660 This is the Foodbank bank account, and donated stock held as at 1st April 2020, previously held within general unrestricted funds. Going forward from 1st April 2020 all Foodbank activity is classified as restricted funds in accordance with donor wishes. 171 This is a transfer of funds from General funds to Foodbank funds to cover general and salary costs. 43,831
Restricted funds are represented by:
| Cash at bank and in hand Stock (donated goods) Debtors Creditors TOTAL |
31-Mar-21 £ 298,260 2,549 97 (800) 300,106 |
|---|---|
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REVELATION CHURCH - LONDON
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021
4. RESTRICTED FUNDS
PREVIOUS FINANCIAL YEAR
| Building Fund Church Plant Fund London Church Plant Fund Tottenham Church Plant Fund |
Balance Balance 01-Apr-19 Adjustment Income Expenditure Transfer 31-Mar-20 £ £ £ £ £ £ - 151,121 - 1,271 - 2,870 155,262 25,392 (15,825) 2,873 2,347 (125) 9,968 - 6,936 1 - - 6,937 - 8,889 1 4,451 - 4,439 176,513 - 4,146 6,798 2,745 176,606 |
|---|---|
The Adjustment in 2019/20 represents the reassignment of the Church Plant funds into smaller individual Church Plant funds for improved clarity and reporting purposes.
The Transfers in 2019/20 represent
| Building Fund Church Plant Fund |
£ 2,870 special offering transferred from General funds to Building fund (125) 2,745 contribution to general fund towards Solidrock-Newday Youth and Children's event |
|---|---|
Restricted funds are represented by:
| Cash at bank and in hand TOTAL |
31-Mar-20 £ 176,606 176,606 |
|---|---|
5. CASH AT BANK AND IN HAND
| Cash at Bank and in Hand | Unrestricted Restricted Total Total Fund Fund 31-Mar-21 31-Mar-20 £ £ £ £ 279,204 298,260 577,464 373,813 279,204 298,260 577,464 373,813 |
|---|---|
6. DEBTORS AND PREPAYMENTS
| Gift Aid Tax Recoverable Sundry Debtors |
Unrestricted Restricted Total Total Fund Fund 31-Mar-21 31-Mar-20 £ £ £ £ 4,653 - 4,653 4,731 3,396 97 3,493 3,396 8,049 97 8,146 8,127 |
|---|---|
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021
7. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiner's Fee Payroll and Pension Costs Sundry Creditors |
Unrestricted Restricted Total Total Fund Fund 31-Mar-21 31-Mar-20 £ £ £ £ 1,800 - 1,800 1,800 2,247 - 2,247 - 30 800 830 793 4,077 800 4,877 2,593 |
|---|---|
8. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The Charity held no long term liabilities during this or the previous financial year.
9. ANALYSIS OF NET ASSETS BETWEEN FUNDS
CURRENT FINANCIAL YEAR
| Tangible Fixed Assets Net Current Assets Long Term Liabilities PREVIOUS FINANCIAL YEAR Tangible Fixed Assets Net Current Assets Long Term Liabilities |
Unrestricted Restricted TOTAL Funds Funds 2020/21 £ £ £ - - - 283,176 300,106 583,282 - - - 283,176 300,106 583,282 Unrestricted Restricted TOTAL Funds Funds 2019/20 £ £ £ - - - 210,683 176,606 387,289 - - - 210,683 176,606 387,289 |
|---|---|
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021
10. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES
The Company is Limited by Guarantee (06266029) and is a Charity registered with the Charity Commission (1120790). The Company does not have a Share Capital and has no income subject to Corporation Tax.
| 2020/21 £ Net Income/(Expenditure) 195,993 Other Recognised Gains - 195,993 Balance Brought Forward 387,289 Closing Funds at 31st March 2021/(2020) 583,282 11. STAFF COSTS AND NUMBERS TOTAL 2020/21 £ Gross Wages & Salaries 217,729 Self Employed Consultants 11,926 Employer's National Insurance Costs 19,103 Pension Contributions 11,349 260,107 Employees who were engaged in each of the following activities: TOTAL 2020/21 Charitable Activities 9 9 |
2019/20 £ 11,486 - 11,486 375,803 387,289 TOTAL 2019/20 £ 184,568 11,474 13,190 8,948 218,180 TOTAL 2019/20 9 9 |
|---|---|
The Charity operates a PAYE Scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000 (2019/20:None)
The Charity had 5 full time staff and 4 part time staff at the start of the year, and 5 full time staff and 4 part time staff end of the year.
A defined contribution automatic enrolment workplace pension scheme is available and eligible employees were enrolled with the option of opting out if they so wish. The church currently pays pension contributions on behalf of nine employees.
The key management personnel of the charity comprise the Trustees/Directors and the Pastoral and Teaching Manager. No Trustees are remunerated. The total employee benefits (including employer national insurance and employer pension contributions) of the key management personnel of the charity was £46,923 (2019/20: £45,342).
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REVELATION CHURCH - LONDON
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021
12. DIRECTORS AND OTHER RELATED PARTY TRANSACTIONS
In this financial year the charity has paid trustees remuneration and benefits (including Employer NI and Employer Pension) for their role as Pastoral Co-Ordinator as follows:
| Name of Trustee M Kyte |
Legal authority Governing document |
Remuneration Employer NI TOTAL & Pension 2020/21 £ £ £ 2,808 432 3,240 2,808 432 3,240 Amounts paid or benefit value |
|---|---|---|
No trustees were remunerated for their role as a trustee.
During this financial year, Director R Young received £1,500 as a contractor in relation to pastoral services to the Tottenham Gospel Plant Mission (2019/20: £4,050). Legal authority for this payment is within the charity's governing document.
During the financial year, a Related Party to the Pastoral and Teaching Manager S Liston (his daughter) received £50 as a gift for her speaking at a training event for students. (2019/20: £1,350 gift to help fund her misison year).
The only other payments made to directors or any persons connected with them during the financial year related to general reimbursements of expenses incurred in furtherance of the Charity's objects. No other material transaction took place between the charity and a trustee or any person connected with them.
The Directors collectively donated a total of £22,260 (2019/20:£24,905) to the Charity during the financial year and there were no conditions attached to these donations in furthering the Charity's objects.
13. RISK ASSESSMENT
The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
14. RESERVES POLICY
The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily.
15. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Directors report. The Directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021
16. DONATED GOODS
The Statement of Financial Activities includes the estimated value of food that has been donated and subsequently distributed by the Foodbank.
| Stocks of Food at start of year Revaluation of stocks of food Donated Food Purchased Food Distributed Food Disposed as waste Stocks of Food at end of year |
2020/21 £ 7,942 - 32,053 1,030 36,383 2,093 2,549 |
2019/20 £ 5,327 538 23,014 2,057 22,994 - 7,942 |
|---|---|---|
The estimated cost of food in 2019/20 and 2020/21 has been calculated by weight at an average cost as calculated by the Trussell Trust for London foodbanks of £1.85 per kg (previously valued at £1.65 per kg). The total weight of food donated and purchased during this financial year was 17,883kg (2019/20: 12,436kg). The total weight of food distributed in this financial year was 19,667kg (2019/20: 12,429kg). The Charity held food stocks of 1,378kg as at the 31st March 2021 (at 31st March 2020: 4,293kg).
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REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31ST MARCH 2021
| Cash used in operating activities (a) Cash used from investing activities Interest income Cash provided by (used in) investing activities Cash flows from financing activities Financing activities Cash used in financing activities Increase/(decrease) in cash and cash equivalents in the year Cash and cash equivalents at the start of the year TOTAL cash and cash equivalents at the end of the year (b) |
2021/20 2020/19 £ £ 201,509 16,541 2,142 1,287 2,142 1,287 - - - - 203,651 17,828 373,813 355,985 577,464 373,813 |
|---|---|
(a) Reconciliation of net movement in funds to net cash flow from operating activities
| Net movement in funds Deduct interest income shown in investing activities Decrease/(increase) in stocks Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash used in operating activities (b) Analysis of cash and cash equivalents Cash at bank and in hand Total cash and cash equivalents |
2021/20 2020/19 £ £ 195,993 11,486 (2,142) (1,287) 5,393 (2,615) (19) 17,712 2,284 (8,755) 201,509 16,541 2021/20 2020/19 £ £ 577,464 373,813 577,464 373,813 |
|---|---|
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INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
I report to the trustees on my examination of the accounts of Revelation Church London for the year ended 31st March 2021.
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
Responsibilities and basis of report
I report in respect of my examination of the charitable company's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a Fellow of the Association of Charity Independent Examiners.
I have completed my examination. No material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
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· the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 understanding of the accounts to be reached.
Signed
Date: 20th September 2021
J Irvinesmith Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
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