## **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022** **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 21|Notes to the Financial Statements| |Page 22|Statement of Cashflows| |Page 23|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 2021 **END OF FINANCIAL YEAR** 31st March 2022 **DIRECTORS THAT SERVED DURING** Rebecca Rundell **THE YEAR TO 31ST MARCH 2022** Kerry Baines (resigned 7th February 2022) **(ALSO TRUSTEES UNDER CHARITY LAW)** Malcolm Kyte David Mance (appointed 1st April 2021, resigned 23rd May 2022) 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 2022** 2021-22 has been a year of transition for Revelation Church. From April to July 2021 we continued to meet online in 5 smaller ‘hubs’ of 15-30 people due to the ongoing COVID-19 pandemic restrictions. Then from August 2021 we moved back to ‘in person’ Sunday services and began to rebuild the church after many had moved away from London. New people started coming immediately and we have steadily integrated them into the church community. Other changes included the recruitment of new staff team members across the charity and changing roles within the existing staff team. ## **Sunday Services** We began meeting ‘in person’ in August at a new venue – Maria Fidelis Catholic School, NW1 1LY, between Kings Cross and Euston Stations. The school is about 5 years old and offers us a very pleasant meeting space with plenty of rooms for children and youth work and also offers an outside space. At the start of 2022, we preached a series on our vision and the church began to feel more settled as new people felt more at home and became integrated into church life. Across the year we had 41 new adults connect with us and joins us following Sunday services. One core area of growth has been in the children’s work. New families have joined the church and quite a number of babies have been born during the year. The small youth group has been strengthened too due to the faithful efforts of the youth team. On the 13[th] March 2022 we celebrated the Church’s 15[th] birthday as part of one of our Sunday services, which included the Tottenham Church Plant joining us as part of the celebrations for their 1[st] birthday. ## **Other Church Activities** The midweek small group (Gospel Communities) took a while to re-establish fully as we came out of the pandemic as the congregation adjusted to the ‘new normal’; finding their new rhythms in local commumity. There has been a steady recovery in recent months with growing numbers in attendance and a couple of new groups starting in Tufnell Park and Highbury and Islington. Other midweek activities include the weekly Tuesday morning prayer meetings, termly evening prayer meetings with other churches, Alpha and Beta courses, CAP money courses, a parenting course, a Freedom in Christ course, prayer walks, praise nights, celebration events and picnics. Training evenings have included leader training and safeguarding training. The youth work has become well established through the year both on Sundays and Friday evenings with a good team in place. Similarly the student work has been able to serve a small but committed group of students through the year, helping them to get integrated into the church. Due to limited accessibility for some members of the congregation as we transitioned from the pandemic to in-person gatherings, we continued to publish resources and content online via our podcast and YouTube channel. Our YouTube channel subscriber base grew to 484 people by the end of the year and we average 40-50 hours of viewed content per month on the channel. ## **Relational Mission Training** At the beginning of the new academic year in September, the Relational Mission (RM) Training courses had 148 students across all the courses: - 86 LEAD students (38 1[st] Years, 48 2[nd] Years) - 36 Shepherd students - 22 ID students - 4 Online LEAD Course students (subscription based) The 2020-21 intake of ID students completed their training programme online, while being based in local church placements and were able to get away to Norfolk at the end of their year in August. The present group (2021-22) were able to do a mission trip to Stockholm in the Spring of 2022. 4 ## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)** ## **DIRECTORS' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST MARCH 2022** The LEAD training course now operates out of 3 bases in Tunbridge Wells, Cambridge and Norwich. Students gather once a month in person and have 3 residential weekends for extended teaching across the year. The Shepherd course is nearing completion of its second year of the two year course, training up 36 elders and potential elders. The plan is to review this pilot course in the summer of 2022 to assess if and when it should next be run as part of the wider RM Training programme. ## **Church Plants / Pioneering / Overseas** In March 2021 we officially launched a church plant into Tottenham. This has gradually been established over the past year with members moving into the area, meeting in homes and building relationship with local people. It will remain under the umbrella of Revelation Church until it is established sufficiently to become a separate charity. We continue to support a number of overseas church plants pastorally and in some cases financially. ## **Community Initiatives** The pandemic had a significant impact on many local people who have been able to seek support from our Christians Against Poverty (CAP) project and the Foodbank. CAP experienced a lull in its client numbers due to the pandemic as many referral services had closed or were not operating in the usual way, but it has gradually picked up again. We have seen a steady increase in clients each month with an average of 22 clients per month across the year. Six more clients became debt free during the year. The total number of people who have become debt free since the beginning of the project rose to 80 by March 2022. The Foodbank offered food deliveries during the COVID-19 lockdowns and restrictions so that clients didn’t have to use public transport and risk getting sick. However when able to, the Foodbank opened its doors to those who valued some real human contact in a season of ongoing isolation. There was a period when the number of refugees living in local hotels and student accommodation led to an upsurge in activity. That settled down later on when students returned to university courses and many of the refugees were moved out of London. One of the main changes during the year was to move the distribution of food from Chalk Farm Baptist Church to Kentish Town Congregational Church. The latter venue is much more accessible in terms of both getting to the venue and the venue itself. The level of donations shot up during the pandemic and local individuals, schools and charities have been generous with both food and financial donations. We received 14,720kg of food donations during the year. Trussell Trust have offered financial grants and we were successful in applying for a facilities grant to have a food storage facility built at Kentish Town Congregational Church. This grant has enabled us to store up to 2 weeks of food on that site. During the year the Foodbank distributed food parcels totalling 13,130kg for 1220 adults and 625 children. ## **Staff & Church Leadership** We started the year with 4 full time staff and 5 part time staff, and ended the year with 4 full time staff and 10 part time staff members. Changes include new adminstrators to help with RM Training and central activities, and the Foodbank Manager now running the Foodbank full time. We appointed a new elder, bringing the eldership team to 3 and have an active team of deacons serving across a variety of roles within the church. ## **Finances** We started the financial year in a strong position following a year of generous giving which had boosted our reserves. In addition to this, our outgoings reduced significantly during the pandemic, particularly because we weren’t hiring a space for our Sunday services or other events as we temporarily moved the bulk of our activities online. Total regular giving to Rev Central for the year with gift aid (excluding the Special Offerings and money given to restricted funds) totalled £270k which is an average of £23k per month. 5 ## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)** ## **DIRECTORS' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST MARCH 2022** Revelation Church central unrestricted reserves remain healthy at £141k and give a buffer as we head in to the first full year of normal expenditure following the pandemic. The reserves policy is to hold 3-4 months of regular expenditure. Monies held across all other Revelation Church accounts and restricted funds stood at £506k at the end of the period. RM Training gross income for the year was just over £110k. Actual expenditure for the period was just under £121k and the shortfall was covered by reserves. Any remaining surplus will be used to invest back in the existing courses. Foodbank income for the year was just under £67k largely due to generous donations from the public and other organisations. The reserves will be used to expand the services, incuding seeking out a new venue and growing the staff team over the next few years. During the year we developed a relationship with Mission Housing to help us launch a campaign to raise funds to buy a church house. When the church started we were given £75k towards a church house for an elder. Over the years that amount has grown to £159k through special offerings. This is still substantially lower than the amount required to buy even a modest property in this part of London. We are aiming to raise additional funds through gifts, loans and shared ownership mortgage to enable us to purchase a suitable property with Mission Housing which will be an asset for the church in the future. 6 REVELAT1014 CIIiIRCH - LONDOII (A COMPANY LIMrrED BY GUARAirrEi) DIREcfoRs' ANNUAL ReiboRT {Conlinued) FOR THE YEAR ENDEO 31￿ MARCH 2022 The Charities Att and the Companles Art requlre the Board of Tru5tEe5 to prEpare finantial s12tements ftsr each financial year which give a true an(1 falr VMY of stste of atrdif5 of the thanty as at the erKJ of the financial year nd of the surplus or deficfjt of the charlty. In prepari￿ tlxEe financial siotements the Is reQuI￿ to :. select suitsble accounting Folicies and then aFWy thwn conSL*￿. b) make judgements and est6mts that are reaSona￿e and rwudent: P￿pare the flnancSal statements the going corwn basis unle55 it is inappropriate to presume that the charity will continue In buslness; d) stste whether appl￿ble accounting stsftdèrds and statanÈnts of recommended praciice have been folkn¥ed, ￿bJ￿t to any mawtal departures dlsdO￿ aTrJ explaIr￿d Ir¢ the finandal statements. The Dire¢tors afy also resp￿SIble for maintsining adequète accountlThJ r￿rdS which disdose with reasonable accuracy at any ty.rre the finanaal wbsition of the tharity arKI whth are suffiiient to show and explain the tharfty's transactions and enable them to easure that the flnanoal ststemertts compty wtth the Companles Act 2006 and comp with regulation5 made undw the Charitie5 ALL They are also rtswnsible ft¥r safeguarf4ng the assets of the charlty and hen￿ for taklng reaSona￿e steps for the prevention an(J de￿￿Jn of fraud and other IrregU￿ritieS. The Directors are also resmin5ible for the contents of the DirettDTS' report, the reskx)nsibility of the independent examiner in ￿lation to the DIrett￿5, rwt is limited to examining repyt and ￿5￿nn9 that on the face of the report there are no incon5iStenoes with the figure5 disdosed in the finanoal statement These accounts have been prepared in r**INCOME AND ENDOWMENTS FROM:**
Donations & Legacies
**2a**
Investment Income
**2b**
Charitable Activities
**2c**
Donated Goods
**17**
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable Activities
**3a**
Governance Costs
**3b**
Donated Goods
**17**
**TOTAL EXPENDITURE**
**NET INCOME/(EXPENDITURE)**
Total Funds Brought Forward
Transfer Between Funds
**4**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2021/22**
**2020/21**
£
£
£
£
281,388
174,137
455,525
507,271
4
1,167
1,171
2,142
113,174
3,253
116,427
85,760
-
27,233
27,233
33,083
**394,566**
**205,790**
**600,356**
**628,256**
449,762
55,213
504,975
391,878
1,812
-
1,812
1,908
-
21,793
21,793
38,476
**451,574**
**77,006**
**528,580**
**432,262**
**(57,008)**
**128,784**
**71,776**
**195,994**
283,176
300,106
583,282
387,288
(15)
15
-
-
**226,153**
**428,905**
**655,058**
**583,282**| |---|---| 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 21 form part of these financial statements. 8 REVELATIOX CHURCH - LONDOPI (A COMPANY LIMITED BY GUAIIANTEE) BALA14CE SHEET AS AT 31ST MARCH 2022 Company number. 06266029 Total Total 31-Map22 31-MaTr21 Fund5 Funds CuTrent Assets Cash at 8ank and In Hand Debtors & P￿PaYn￿n15 Stock 226.040 9.789 421,236 647.276 9,789 7.989 577,464 8.146 2,549 17 7,989 Total Cmnt Assets 235.829 Creditor4: Amount5 Oue wtihin (the Year 9.676 320 9,996 4,877 14ET CURRE14T ASSETS 226.153 428,905 655,058 583,282 TOTAL ASSEfs L￿rr￿rt liabiliti24 226,153 428,905 655.058 583.282 Long Terni uabl11￿¢S 226.153 428.905 655.058 583.282 Funds of the Charlty General Funds Re5trtcted Funds io 4.10 226.153 226,153 428,905 283.176 300,106 428.9¥)5 Totsl Fund$ 226.153 428,905 Dlrectors. RespMsibllitl•s The tharttsble company's finanual statements have been r*epar*l in ar￿ance with the provisions applicab￿ to coM￿nieS sublett to the small companies Teoirne. The Directr)rs consider thèt the company is en￿lled to exemption from the requirefnent to have an audit under the provlslons of section 477 of the Companies Art 2006 {"the Acri and membeF5 have not requi￿ the cotnpany to obtaln an audit for the year quettion ITr a(rordance With S&tion 476 of the Art. However. in accordance wlth S*Uon 145 of the Chariti￿ Art 2011, the accounts have examined by an Indekwdent Examintr whose report appears on page 23. The Directors acknowledge theor rÈsN)n5it*litles for Comp￿l￿g wlth the wuiremwts of the Act with to ac¢ovnting recorrjs and prepornkn of financial statern￿ts. Approv&1 by the Dlrectors on the: 11fv L Slgn*J their ￿halF by.. Prlnted Narne." R RUNDELL DIREcfoR ## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022** ## **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 2022** ## **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 not 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 2022** ## **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 2022** ## **2. INCOME AND ENDOWMENTS** |**Note**
**a) Donations & Legacies**
Foodbank Income
Gifts, Tithes & Offerings
Gift Aid Tax Recoverable
Grant - Government Covid Support
Grant - Other
**b) Investment Income**
Bank Interest
**c) Charitable Activities**
Bank Charges and Fees Refunded
Event Income
ID Income
Lead Training Income
Shepherd Income
Sundry and Other Income|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2021/22**
**2020/21**
£
£
£
£
-
51,000
51,000
99,699
231,656
41,585
273,241
320,778
48,832
7,168
56,000
76,794
-
-
-
10,000
900
74,384
75,284
-
**281,388**
**174,137**
**455,525**
**507,271**
4
1,167
1,171
2,142
**4**
**1,167**
**1,171**
**2,142**
6,264
766
7,030
**-**
1,076
2,487
3,563
34,170
-
34,170
29,720
48,649
-
48,649
55,446
22,594
-
22,594
594
421
-
421
-
**113,174**
**3,253**
**116,427**
**85,760**| |---|---| 13 ## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued)** ## **FOR THE YEAR ENDED 31ST MARCH 2022** ## **3. EXPENDITURE** |**a) Charitable Activities**
**Note**
Activities & Events
Advertising & Publicity
Bank Charges
Books & Publications
Carol Service
Christians Against Poverty (CAP)
Church House Costs
Communications and Telecom
Conference & Events *
DBS and Safeguarding
Equipment Costs
Foodbank Costs
Gifts & Donations
Guest Speakers
Hospitality Costs
Insurance Costs
Kids and Youth
Leadership Training Costs
Legal and Professional Fees
License & Subscriptions
Music and Media
Office Hire
Other Mission Costs
Planting Fund
Prayer & Pastoral Meetings
Printing, Postage & Stationery
Relational Mission
Salaries & Wages
**12**
Software Costs
Storage Hire Costs
Student Costs
Study Materials and Team Meetings
Sundays Venue
Sundry Expenses
Training Costs
Travel & Subsistence
Venue Hire
**b) Governance Costs**
Independent Examiner's Fee|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2021/22**
**2020/21**
£
£
£
£
5,544
400
5,944
2,254
682
-
682
120
264
248
512
163
454
135
589
274
836
-
836
33
7,864
-
7,864
6,243
31,200
-
31,200
31,070
994
-
994
969
1,022
195
1,217
(978)
960
-
960
261
1,656
849
2,505
1,938
0
11,058
11,058
8,417
6,484
3,712
10,196
8,992
7,297
-
7,297
1,380
5,357
-
5,357
262
1,240
66
1,306
943
1,620
-
1,620
418
-
-
-
1,218
1,771
-
1,771
-
1,098
-
1,098
1,037
795
-
795
5,845
19,167
-
19,167
12,375
4,694
3,448
8,142
3,190
9,738
9,738
5,364
4,695
234
4,929
629
261
170
431
213
27,000
-
27,000
27,400
260,892
22,243
283,135
260,107
4,213
-
4,213
3,094
846
-
846
-
95
-
95
223
1,012
-
1,012
79
36,310
26
36,336
6,934
739
-
739
373
3,635
-
3,635
-
3,989
2,691
6,680
1,038
5,076
-
5,076
-
**449,762**
**55,213**
**504,975**
**391,878**
1,812
-
1,812
1,908
**1,812**
**-**
**1,812**
**1,908**| |---|---| * 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 2022** ## **4. RESTRICTED FUNDS** ## **CURRENT FINANCIAL YEAR** |Building Fund
Church Plant Fund
Foodbank Fund
London Church Plant Fund
Tottenham Church Plant Fund
2:45 Fund
Base Fund
Liverpool|**Balance**
**Balance**
**01-Apr-21**
Adjustment
Income
Expenditure
Transfers
**31-Mar-22**
£
£
£
£
£
£
157,926
-
1,165
-
-
159,091
6,866
-
20,611
9,738
649
18,388
115,847
-
93,999
52,524
97
157,419
6,941
-
1
-
-
6,942
8,798
-
17,657
5,007
(326)
21,122
3,728
-
-
2,555
244
1,417
-
-
62,524
6,748
(720)
55,056
-
9,833
434
71
9,470
**300,106**
**-**
**205,790**
**77,006**
**15**
**428,905**| |---|---| The Transfers in 2021/22 represent: **Church Plant Fund** £ 648.42 This is £648.42 overseas mission support paid directly from the Base Fund bank account, but allocated to the Church Plant Fund. A transfer was made on 7th April 2022 to reimburse the Base Fund. **Foodbank Fund** £ 97.00 This relates to the £96.64 CAP reimbursement, which was paid into the wrong bank account and corrected in April 2021. **Tottenham Church Plant Fund** £ (326.00) This is income that was allocated to the Tottenham Church Plant Fund, but was banked into the main bank account. A transfer was made on 8th June 2022 for £645.60 to reimburse the main account. An accrual of £320 has also been accounted for, representing contractual fees owing at 31st March 2022, that were paid over on 6th April 2022. ## **2:45 Fund** £ 244.00 This was a stripe payment in July 2020 that was received into the main bank account, but not transferred to the 2:45 bank account until 18th June 2021 but was allocated to the 2:45 Fund. **Base Fund** £ (720.00) This is the transactions noted above from the Church Plant Fund (£648.62) and below from the Liverpool Fund (£70.88). The Base Fund was reimbursed after the end of this financial year. ## **Liverpool Fund** £ 70.88 This was a £70.88 payment in November 2021 paid from RM Base account but allocated to the Liverpool Fund. A transfer was made on 8th June 2022 to reimburse the Base account. Restricted funds are represented at 31st March 2022 by: |Cash at bank and in hand
Stock (donated goods)
Liabilities (Creditors)
TOTAL|31-Mar-22
£
421,236
7,989
(320)
428,905| |---|---| 15 ## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022** ## **4. RESTRICTED FUNDS** ## **PREVIOUS 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
Transfer
**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
Foodbank Fund
Restricted funds are represented
Cash at bank and in hand
Stock (donated goods)
Debtors
Creditors
TOTAL|£
259
This is £258.75 overseas mission support paid directly from the main
259
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
at 31st March 2021 by:
31-Mar-21
£
298,260
2,549
97
(800)
300,106
bank account, but allocated to the Church Plant Fund.| |---|---| ## **5. DESIGNATED FUNDS** The Charity has internal ringfenced funds, which are considered to be a part of general funds and are used for internal reporting purposes only. These funds are as follows: ## **The BACS Reserve fund.** This is an enforced account set out by HSBC where the Charity must hold a minimum of £30k in reserves. The money in this account is from general reserves, but it is temporarily ringfenced while the Charity holds a BACS payment facility. A registered charge is filed at Companies House entitling HSBC Bank Plc to security over cash deposits, dated 30th May 2021. 16 ## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022** ## **The RM Training Fund** This fund is used to manage and run the training courses. Any surplus of funds in this account is re-invested into growing and developing the RM Training courses further. Movement on designated funds during the financial year were: |BACS Reserve
RM Training|**Balance**
**Balance**
**01-Apr-21**
Adjustment
Income
Expenditure
Transfer
**31-Mar-22**
£
£
£
£
£
£
-
-
3
0
30,000
30,003
96,205
-
109,705
120,967
202
85,145
96,205
-
109,708
120,967
30,202
115,148| |---|---| ## **6. CASH AT BANK AND IN HAND** |Cash at Bank and in Hand
**7. DEBTORS AND PREPAYMENTS**
Gift Aid Tax Recoverable
Sundry Debtors|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Mar-22**
**31-Mar-21**
£
£
**£**
**£**
226,040
421,236
647,276
577,464
**226,040**
**421,236**
**647,276**
**577,464**
Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Mar-22**
**31-Mar-21**
£
£
**£**
**£**
4,418
-
4,418
4,653
5,371
-
5,371
3,493
**9,789**
**-**
**9,789**
**8,146**| |---|---| ## **8. 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-22**
**31-Mar-21**
£
£
**£**
**£**
1,812
-
1,812
1,800
6,344
-
6,344
2,247
1,520
320
1,840
830
**9,676**
**320**
**9,996**
**4,877**| |---|---| ## **9. 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. 17 ## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022** ## **10. ANALYSIS OF NET ASSETS BETWEEN FUNDS** ## **CURRENT FINANCIAL YEAR** |Tangible Fixed Assets
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
**TOTAL**
Funds
Funds
**2021/22**
£
£
£
-
-
-
226,153
428,905
655,058
-
-
-
**226,153**
**428,905**
**655,058**| |---|---| ## **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**| |---|---| ## **11. 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. |Net Income/(Expenditure)
Other Recognised Gains
Balance Brought Forward
Closing Funds at 31st March 2022/(2021)|**2021/22**
**£**
71,776
-
**71,776**
583,282
**655,058**|**2020/21**
**£**
195,994
-
**195,994**
387,288
**583,282**| |---|---|---| 18 ## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022** ## **12. STAFF COSTS AND NUMBERS** |Gross Wages & Salaries
Self Employed Consultants
Employer's National Insurance Costs
Pension Contributions|**TOTAL**
**2021/22**
**£**
225,791
31,050
15,025
11,269
**283,135**|**TOTAL**
**2020/21**
**£**
217,775
11,881
19,102
11,349
**260,107**| |---|---|---| Total number of employees (includes full and part time staff members) who were engaged in the following activities: |Charitable Activities|**TOTAL**
**2021/22**
14
**14**|**TOTAL**
**2020/21**
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 (2020/21:None) The Charity also utilised the services of three self employed consultants during the year. The total amount paid was £20,498. The Charity had 5 full time staff and 4 part time staff at the start of the year, and 4 full time staff and 10 part time staff at the 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. One Trustee is remunerated for their role as Pastoral Co-Ordinator. The total employee benefits (including employer national insurance and employer pension contributions) of the key management personnel of the charity was £88,324 (2020/21: £50,163 - this includes a pro-rata amount as one individual only became a part of key management personnel part way through the year). 19 **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022** ## **13. 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
TOTAL
& Pension
2021/22
2020/21
£
£
£
£
36,057
5,558
41,615
3,240
36,057
5,558
41,615
3,240
**Amounts paid or benefit value**| |---|---|---| No trustees were remunerated for their role as a trustee. During the previous 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. 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 £14,300 (2020/21: £22,260) to the Charity during the financial year and there were no conditions attached to these donations in furthering the Charity's objects. ## **14. 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. ## **15. 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. ## **16. 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. 20 ## **REVELATION CHURCH - LONDON** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022** ## **17. 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|**2021/22**
**£**
2,549
-
27,233
2,498
23,024
1,267
**7,989**|**2020/21**
**£**
7,942
-
32,053
1,030
36,383
2,093
**2,549**| |---|---|---| The estimated cost of food in 2020/21 and 2021/22 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 16,070kg (2020/21: 17,883kg). The total weight of food distributed in this financial year was 12,445kg (2020/21: 19,667kg). The Charity held food stocks of 4,318kg as at the 31st March 2022 (at 31st March 2021: 1,378kg). 21 ## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)** ## **STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31ST MARCH 2022** |**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)|2021/22
2020/21
£
£
**68,641**
**201,510**
1,171
2,142
1,171
2,142
-
-
-
-
69,812
203,652
577,464
373,812
**647,276**
**577,464**| |---|---| ## **(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**|2021/22
2020/21
£
£
71,776
195,994
(1,171)
(2,142)
(5,440)
5,393
(1,643)
(19)
5,119
2,284
**68,641**
**201,510**
2021/22
2020/21
£
£
647,276
577,464
**647,276**
**577,464**| |---|---| 22 ## **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 2022. 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. Date: 14th September 2022 J Irvinesmith FCIE Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF 23