## **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 1 ||**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| 2 ## **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 3 ## **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. 4 ## **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. 5 ## **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. 6 {A COMPANY LIMITED BY GVARAIITEE) FOR THE YEAR ENDED 31ST IIARCH 2021 The Charttle5 Act •nd the Companles kt rnjulre the knrd of Trukn to prepare flnandal *atay￿ts lor each financlal year whlth glve • true and falr vlew of the stste of affalr5 of the dwrity as at the end of the fi￿nd￿l year and of the surplus or deficlt of the th•rlty. En prepadThJ those fina￿5￿1 Board Is requlred to :. prepare the flnènthl st•terr￿S the g05ThJ (#n(￿l bo45 unless It 1$ InapprWte to we5¢Jme tlw tt charlty wlll contlnue In bU￿ne$S. d) stste whether applkntrAe accounllng SI￿ardS and statements of reccthmended PrnLtlce have tRen Idlowed. SUbJ￿t to any matertal departures d151*>sed and eXpl￿ned In the flnanclal statejnents. The Dlrettors are also responsli4e lor malntslnlng adwuate accountsNJ rtt¢rOs whlth dlthse wlth reosorwb Ufw at any Wme the finonool p)slUon of the c￿rIty and whth are sufflclent to and explbln the thadty's transacyons and ￿able tIM) to ensure that fl￿n¢81 stat￿rthts comply twth the Ctsmp)nles Act 2006 and comply wlth regul•ttrJns made undw the Charltyes Tly •re also responslble for safeguardlng the J55ets of the charlty and hen￿ for taklng fE•s¢n•ble Ws lor the weven0￿ and detedon ol fraud aThl other Irregulorltle5. The Dlrectors are •lso reSp￿sIble for the C￿tents of the DIr¢rt0￿ rep(Yt. and the resp0nslwl￿Y of the IrKlependent examlner In relaljon to the Olrecttys. report Is fimf(al to examlnlThJ the reptyt •na ensudng thbt on the face of the report there are no Inconslstende5 the figurE5 dtsd(6ed In the fimndal stateIn￿t These a¢cTrJnts ￿Ve been pr•par•d In xo)rdance wlth the aprAkatrAe to COM￿nIeS subject to the small aMnpanle5 reglme. l the attiched st•teN*rt of Iln•rKl•l Ktmtlts and bHIan￿ $I￿t yew ended 315t Marth 2021 and conflrni that I have m)de avallatle all Infornth nKewry for Its prg)aratk￿. Approved by the Dlr&*x5 on the.....l..1....S..*. .2021 Slgned ￿ thdr behalf by OlreLtr......-..--.-.- . Prlntsd Name: R. ILvNtyE L ## **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**| |---|---| 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. 8 (A COMPANY LzMrtED BY GUARAPITEE) AS AT 31ST •IARCN 2021 Company 06266029 T¢)tal 3141aTr21 31￿&￿10 Fur*d5 Cash at Bank and In HaThJ Debtofs & prepayrr￿ts 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￿. An￿nts Oue wlthln Or* Year 4.077 4￿71 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 ap￿Icable to mpanles subjert to the crwnles The Directors COn￿der that the ccthpany bs entytled to exeJnrthi fTDm the r4LMrerr*nt 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 xco￿10n￿ with seckn 476 c* the Att. However, in acCOrthn￿ wlth sKUon 14S of the Charits Att 2011. the acC￿nts ha¥e t*en exam1￿￿ by an Indep￿￿ Examlner whose rel￿rt appears on page 22. accounUThJ records aThJ the prEparttion d financial stateme Signe(l on the5r t*ha￿ 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. 10 ## **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. 11 ## **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. 12 ## **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**| |---|---| 13 ## **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 14 ## **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| |---|---| 15 ## **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**| |---|---| 16 ## **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**| |---|---| 17 ## **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). 18 ## **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. 19 ## **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). 20 ## **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**| |---|---| 21 ## **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 - · the accounts did not accord with the accounting records; or - 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 22