## **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023**
**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**|06266029|
|**DATE OF INCORPORATION**|1st June 2007|
|**START OF FINANCIAL YEAR**|1st April 2022|
|**END OF FINANCIAL YEAR**|31st March 2023|
|**DIRECTORS THAT SERVED DURING**|Rebecca Rundell|
|**THE YEAR TO 31ST MARCH 2023**|Malcolm Kyte|
|**(ALSO TRUSTEES UNDER CHARITY LAW)**|Douglas Hogg|
||David Mance (appointed 1st April 2021, resigned 23rd May 2022)|
|**DIRECTORS APPOINTED AFTER THE**|Jane Oluwatobi Oluwatosin Adu (appointed 22nd May 2023)|
|**BALANCE SHEET DATE**||
|**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, 39-41 North Road, London, N7 9DP|
|**BANKERS**|HSBC Plc.|
||176 Camden High Street, London, NW1 8QL|
|**SAFEGUARDING PARTNER**|thirtyone:eight|
||PO Box 133, Swanley, Kent, BR8 7UQ|
|**INSURANCE**|Policy Number: CHF 2196290|
||Ansvar Insurance, Ansvar House, St Leonards Road, Eastbourne,|
||East Sussex, BN21 3UR|
|**TRUST ADVICE MEMBERSHIP**|Trust Advice, Unit 2, The Broadbridge Business Centre, Delling Lane,|
||Bosham, West Sussex, PO18 8NF|
|**MEMBER OF THE EVANGELICAL ALLIANCE**|Membership number: 221868|
|**WEBSITE**|www.revelationchurch.org.uk|
|**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 2023**
The Trustees are pleased to present the Annual Report for the financial year ending 31st March 2023.
## **Charitable Activity**
The charity continues to embark on a broad range of activities to support the charitable objective of advancement of the Christian faith worldwide. This year has been one of recovery (following the end of the COVID-19 pandemic) and consolidation for the church. The Sunday services have been firmly re-established and many new people have settled with us and begun to contribute to the life of the church community. We have continued to meet weekly in Euston in a school and we have a warm relationship with the school’s external bookings team.
The youth work has been strengthened, aided by the successful return of Newday – a national youth event in Norfolk. 11 of our teenagers shared a site with youth from the Church in Bassett Street with whom we have a close working relationship. There are now regular Friday night gatherings in addition to the Sunday meetings.
There has been the normal level turnover of people throughout the year with one-off visitors, short-term attenders and established members moving to other parts of the UK or other nations. Many visitors found the church online before coming on Sundays or were invited by our current members. 43 visitors signed up to connect with us through our connect form and 25 attended ‘Intro Rev’ – our introduction to the church session. We have around 100 adults who regularly serve on Sunday rotas to support the Sunday services.
## **Other Church Activities**
The mid-week Gospel Communities (GCs) have developed steadily with 117 people connected to the groups. They generate a strong sense of community and mutual support and are a place where genuine friendships are forged.
The Alpha and Hope Explored courses are designed for those interested in the Christian faith. We have run two courses with 12 guests in total. Other mid-week courses have included the Freedom in Christ course (which we ran in the summer term of 2022), a new course called The Marriage Sessions and the CAP Money Course.
We held two baptism services in May and November where we baptised a total of 6 people. One of the GCs also did a baptism for one of their members at home.
We ran the annual safeguarding training for our youth & children’s workers in February and GC leaders training the following month. Prayer has remained very much on the agenda with weekly Tuesday morning prayer meetings, prayer nights and 10 days of prayer & fasting in January this year.
## **Community Initiatives**
Our CAP centre manager organised a sponsored 10k run in Battersea Park to raise funds to expand the CAP team. A combination of monies raised through this event and a grant meant we could start the process of recruiting a parttime team debt coach. Four more CAP clients became completely debt free during the year bringing the overall total to 84 since we started. The average number of CAP clients we serve at any one time is 25 – all at different stages of debt recovery.
The Foodbank has continued to distribute food from Kentish Town Congregational Church which is a much better location than our previous venue in Chalk Farm. We finally managed to secure a more suitable space for the food storage on the same site as the church office in North Road, N7. This has made a big difference to the team already having more space and much easier access for food stock and distribution.
Emergency food parcels are now being provided to a project based at James Wigg GP Practice and we have worked with the Salvation Army to provide clients with advice on benefits. Over the year 821 Foodbank parcels have been issued, serving 1,263 adults & 712 children (a total of 12,419kg of food).
We have been able to appoint an outreach & volunteer co-ordinator for 2 days a week to work alongside the foodbank manager. The role involves co-ordinating the recruitment and training of the foodbank volunteers.
4
## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)**
## **DIRECTORS' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST MARCH 2023**
## **Relational Mission / Church Plants**
Relation Mission (RM) is a network of churches to which we belong. As a charity we facilitate three national RM training programmes (LEAD, Shepherd, Intentional Discipleship) and prayer events for UK church leaders.
There was a total of 103 students on RM training courses this year. Intentional Discipleship now serves other church networks from across the UK and they were also able to undertake another mission trip to Stockholm. Plans are taking shape for a further course called Urban Planting to train leaders keen to plant churches into urban contexts. We also ran two Prayer & Fasting events which were attended by around 140 church leaders at each.
One of our pastors has a growing role supporting other RM churches. In 2022-23, trips were made to Brussels, Seoul, Liverpool and Malaga to connect with and support pioneering church plants. Ongoing support is also provided for the Tottenham church plant and other UK churches through visits and apostolic team days.
## **Structure, Governance and Management**
The trustees and church elders operate in a consultative way when it comes to major strategic decisions. There is high level of communication between the two teams and a good partnership has developed. The elders’ main responsibility is for the spiritual and pastoral oversight of the church and the trustees focus on compliance with current legislation, policies, the annual budget, recruitment and safeguarding.
The local church has a fairly flat structure with the three elders equally responsible for leading the church, supported by the staff and large number of volunteers from across the church. Each of the other activities (e.g. Relational Mission ‘RM’ training, Foodbank) mostly have a key staff member supported by other paid staff and volunteers.
Decision making in the various RM training programmes, Foodbank, CAP and the Tottenham church plant is generally delegated out to the relevant leaders unless there are decisions to be made about recruitment or budgets. Revelation Church staff members make decisions about their own areas of employment as appropriate within the parameters of the budgets for each department.
Trustees are responsible for setting salary levels with reference to salary levels in other similar churches or charities. These decisions are always made by volunteer trustees alone. This is done on an annual basis as a minimum.
All new trustees complete an enhanced DBS, are sent our internal documents about role requirements of a trustee and requested to complete a training course called Charity Governance for Trustees offered by Trust Advice. The Strategy & Operations Manager ensures that new trustees are fully registered with Companies House and the Charity Commission.
## **Key Staff and Organisation**
The charity now employs 14 staff members (mostly part-time) and has 5 contractors who serve the Charity in a variety of ways e.g. foodbank, debt centre, Tottenham church plant, training programmes and local church activity. The majority are based in central north London but our UK-wide RM training programmes are run by team members working remotely in East Anglia and Kent. The biggest change for the London-based staff team during the year was an office move in March 2023.
The elders and trustees are supported in their roles and in the day-to-day running of the charity by the Strategy & Operations Manager.
As a local church we have strengthened our leadership structure by appointing 6 new volunteer deacons who lead key areas of church life.
## **Finances**
Overall the charity’s reserves have been healthy but donations continue to remain below budget with relation to the central church activities. Numbers of people attending on Sundays have steadily grown following the pandemic and we are expecting donations to increase accordingly.
To help remedy the situation, we took various steps. In our wider leaders meeting in July and Family Meeting in September, we made the church aware of the situation. In July we also issued a Giving Review leaflet to set out our financial position and encourage church members to review their giving. These actions resulted in a 21% average monthly increase in regular giving from August 2022 to March 2023 compared to the period April 2022 to July 2022. In October 2022 the elders and trustees took the decision to reduce staffing costs and rework the budget to help narrow the gap. The three elders and Strategy & Operations Manager reduced their working hours as a result.
5
## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)**
## **DIRECTORS' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST MARCH 2023**
## **Finances (continued)**
Unrestricted reserves at the end of the year were £189,219 which consisted of £99,610 relating to the RM Training Fund and £89,609 relating to general church funds, which is above the policy to have 3 months’ worth of general expenditure in reserves. Unrestricted expenditure for the year was £421,508, of which £355,048 related to general church expenditure (which excludes the costs to run the RM training courses). Unrestricted donations for the year were £279,423 including gift aid.
The RM training course budgets are designed to be financially self-sustaining and are on track to finish the academic year within budget. Foodbank continues to thrive financially and finished the year with general reserves of £172,588 of which £157,240 was cash. This allows scope for growth and investment over the coming years.
We took up two special offerings during the year and raised a total of £26,321. The first offering in May was for the Revelation Church Housing Fund. We continue to work with Mission Housing to find sufficient loans to add to our funds to purchase a local property for one of the pastors. The second offering in November went to a partner church in Kenya to help famine relief following a period of prolonged drought.
## **Looking Ahead**
Our plans for the coming year to further our charity objectives involve expanding our staffing in the following areas:
- CAP Debt Centre – we will add a part-time debt coach and temporarily add more hours to the Centre Manager’s role in order to help train the debt coach.
- ID training programme – due to increasing numbers of students from across the UK we aim to add one more part-time leader to help manage the increased numbers.
- The new training course – Urban Planting – will be launched in March 2024. The staff member coordinating this will expand their hours in order to cover everything that needs to be done.
Revelation Church will continue to meet on Sundays and mid-week, serving a growing number of local people. The recent addition of a monthly Discipleship Course session will help to integrate newer church attendees. The Pastoral Coordinator is retiring in August and some of his roles will be replaced by a combination of staff and volunteer time which will have the positive benefit of drawing more people into leadership roles from across the church.
Foodbank will be undergoing a change with a new manager and we look forward to continuing the work done by this arm of the charity.
6
REVELATZON CHURCH - LONDON
{A COMPANY LIMITED BY GUARANTEE)
DIRECTORS, ANNUAL REPORT (Continued)
FOR THE YEAR ENDED 31ST MARCH 2023
statement of Dirertors. Responsibilities:
The Charities Art and the Cornpanies Art require the 8oard of Trustee5 to prepare financial 5tatewents for each
financial yEar which give a true and fair view of the state of affairs of the charity as at the end of rhe financial year
and of the Sltrplus or deficit of the ch3rity. preparing those tinancial statements the F5oard 15 required to
select suitable accounting polirips and thèn apply them consistently;
make Judgements and estimatQ5 that are reastsnable and prudp_nt-
prepare the financial 5talements on the going conterfi basis unless il is inBppfDpriate to presume that the
charity will continue in business,.
state whether applicable accounting standards and 5tatetnents of recomrnended prattice have been
follo¥ved, Subject to any m3terial departure5 (Jisclosed and explained In the financia5 statements.
The Dirertor5 a also responsible for maintaining adequate accountyng records which disclose with iea50nable
accuricy at any tirne the financial position of the charity and which tire sufficient to show dnd explain the charity's
transactions Jnd enable them to ensure that the fin¢incial ststements comply With the Compar)ies Art 2006 and comply
with regulètion5 m3de under the Charities Aa. ThEY are also responsible for safeguarding rhÈ assets of the charity and
hence for tsking reasonable steps for the prev&ntion and deteLtion of fraud and other irregularities.
The Directors are also rpOnsIble for the tonteD15 of the Directo, report, and the responsibility of the independellt
cxaminer in relètion to the DIFettors' report 15 IimitEd to examining the rcport and ensuring Lhat on the face of the
report there are no incon515tencies with Lhe figures disclosed In the financial st6tefnents.
These accounts hove been prepared In accordance ¥yilh the provisions applicable to companies subJett tc the small
comp&n1e5 regime.
l approvc the attèched statement of financial activities alld balance sheet for the year ended 31st March 2023 and
confirm that I have rn3de available èll inlormation note5sary for its prepar3tion,
ApprovÈd by the DIFeclors on the..
Signed on their behalf by..
Pnnted Name.. R RUNDELL, DIREcfoR
## **REVELATION CHURCH - LONDON**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31ST MARCH 2023**
|**Notes**
**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)**
Transfer Between Funds
**4**
**OTHER RECOGNISED GAINS/(LOSSES)**
Gains and losses on revaluation of stocks
**17**
held for distribution to beneficiaries
Total Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
279,423
220,549
499,972
455,525
119
3,179
3,298
1,171
98,165
7,155
105,320
116,427
-
28,211
28,211
27,233
**377,707**
**259,094**
**636,801**
**600,356**
419,618
169,307
588,925
504,975
1,890
-
1,890
1,812
-
31,512
31,512
21,793
**421,508**
**200,819**
**622,327**
**528,580**
**(43,801)**
**58,275**
**14,474**
**71,776**
6,867
(6,867)
-
-
-
5,928
5,928
**-**
226,153
428,905
655,058
583,282
**189,219**
**486,241**
**675,460**
**655,058**|
|---|---|
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
REVELATION CHURCH - LONDOM
{A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31ST MARCH 2023
Company nurnber: 06266029
unstrirted
Funds
Restnrted
Funds
Total
Total
31-Mar-23 31-Mar-22
Note
Current Asséts
Cash at Bank and in Hand
Debtor5 & Prepayments
stock
187.567
16,863
471,198
6,392
10,616
658,765
23,255
10.616
647,276
17
7,989
Total Ctsrrent Assets
204,430
488 206
692.636
665 054
Creditors- Amour)ts Due ¥vithin Onc Year
15.211
1,965
17,176
9,996
NET CURRENT ASSETS
189,219
486,241
675.46G
655,058
TOTAL ASSETS less current liabilitie5
189,219
486.241
675,460
655,058
Long Term Uabilit1È5
NET ASSETS
189,219
486,241
675.460
655,058
Funds of the Charity
GeneTrl Funds
Restrirted Funds
io
4,10
189.219
189,?19
486,24 1
226,153
428,905
486,241
Total Funds
Directors. Responsibilities
For thE financial year ended 315t March 2023, the cofflpany was enkntlecs to cxemption under 477 of the Companies
Art 2006 relatino to small companie5. No member5 have required the company fo obtain an audit of its accounts for
the year ended 31st March 20?3 in dCEordance with section 476 of the Cornpanies Act 2006.
The direttots acknowledgc thelr responsibilities for iotnplying with the requirements Df the Companies Act with
re5pert the preparation of accounts. These èccounts have been prcpared in (jccorddnce with thc provlsions applicable
to companies subjett to the small companies. regirne.
The Dirertors acknowledge their responsibilities for complying with the reouirpments of the Act with respert to
accounting record5 and tho preparation of financial statÈments.
Approved by the Dirertor5 on the..
Signed on their behalf by..
Pnnted Name.. R RUMDELL, DIRECfOR
## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023**
## **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 2023**
## **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 2023**
## **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 2023**
## **2. INCOME AND ENDOWMENTS**
|**Note**
**a) Donations & Legacies**
Gifts, Donations & Offerings
Gift Aid Tax Recoverable
Grants
**b) Investment Income**
Bank Interest
**c) Charitable Activities**
Bank Charges & Fees Refunded
Event Income
Training Income
Sale of Books & Equipment|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
232,606
186,764
419,370
324,241
46,817
10,685
57,502
56,000
-
23,100
23,100
75,284
**279,423**
**220,549**
**499,972**
**455,525**
119
3,179
3,298
1,171
**119**
**3,179**
**3,298**
**1,171**
-
-
-
7,030
2,182
5,148
7,330
3,563
93,909
-
93,909
105,413
2,074
2,007
4,081
421
**98,165**
**7,155**
**105,320**
**116,427**|
|---|---|
13
## **REVELATION CHURCH - LONDON**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31ST MARCH 2023**
## **3. EXPENDITURE**
|**a) Charitable Activities**
**Note**
Bank Charges
Christians Against Poverty (CAP) Debt Centre
Church Courses
Church House
Conferences
DBS & Safeguarding
Events
Foodbank
Gifts & Donations
Insurance
Kids & Youth
Legal & Professional Fees
Music & Media
Office Equipment & IT
Office Hire
Printing, Postage & Stationery
Salaries & Wages
**12**
Staff & Leader Meetings
Staff & Leader Training
Student
Subscriptions
Sunday Services
Sundry Expenses
Training Course Costs
Travel & Subsistence
**b) Governance Costs**
Independent Examiner's Fee|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
139
121
260
512
7,584
-
7,584
7,864
631
-
631
495
28,965
-
28,965
31,200
834
671
1,505
1,467
546
-
546
960
3,259
7,445
10,704
4,543
-
24,509
24,509
11,058
29,387
31,972
61,359
47,780
969
511
1,480
1,306
13,152
-
13,152
3,857
1,475
-
1,475
1,771
1,487
-
1,487
2,175
3,601
222
3,823
6,112
20,339
-
20,339
19,167
565
12
577
431
217,663
86,833
304,496
283,135
4,176
827
5,003
4,200
614
3,497
4,111
2,648
79
-
79
95
292
-
292
324
57,575
314
57,889
36,336
6
-
6
170
25,745
217
25,962
30,689
535
12,156
12,691
6,680
**419,618**
**169,307**
**588,925**
**504,975**
1,890
-
1,890
1,812
**1,890**
**-**
**1,890**
**1,812**|
|---|---|
14
## **REVELATION CHURCH - LONDON**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023**
## **4. RESTRICTED FUNDS**
## **RESTRICTED FUNDS - CURRENT FINANCIAL YEAR**
|Building Fund|**Balance**
**01-Apr-22**
£
159,091|Stock
Revaluation
Income
£
£
-
21,428|**Balance**
Expenditure
Transfers
**31-Mar-23**
£
£
£
-
-
180,519|
|---|---|---|---|
|Church Plant Fund|18,388|-
91|(10,542)
(1,561)
6,376|
|Foodbank Fund|157,419|5,928
108,507|(99,373)
107
172,588|
|London Church Plant Fund|6,942|-
28|-
-
6,970|
|Tottenham Church Plant Fund|21,122|-
18,143|(9,811)
(2,975)
26,479|
|2:45 Fund|1,417|-
1,566|(480)
-
2,503|
|Base Fund|55,056|-
80,908|(68,847)
(2,403)
64,714|
|Liverpool|9,470|-
3,775|(1,295)
(35)
11,915|
|CAP Debt Centre|-|-
14,177|-
-
14,177|
|Special Offering|-|-
10,471|(10,471)
-
-|
||**428,905**|**5,928**
**259,094**|**(200,819)**
**(6,867)**
**486,241**|
|The transfers between funds in|2022/23 represent:|||
|Restricted
Foodbank Fund||£
£
-
107|Top up shortfall from general funds|
|Restricted
Tottenham Fund||-
25|Top up shortfall from general funds|
|Restricted
Tottenham Fund||-
(1,800)|Internal transfer for Mission and Planting|
|Restricted
Base Fund||-
(5,000)|Internal transfer for Training (Lead/ID)|
|Restricted
Base Fund||-
(199)|Reimburse General Fund|
|General
General Fund||1,867
-||
|Designated RM Training||5,000
-||
|||6,867
(6,867)||
## Transfers from Restricted Fund to General Fund
£1,800 - the funders giving to Family Church Tottenham give permission for the money given to go towards both investing in local church activity in Tottenham and supporting wider church mission activity (both to Revelation Church and other UK churches).
£199 - a small adjustment is required to correct a prior year overstatement of funds held in the Base Fund.
## Transfers from Restricted Fund to Designated Fund
£5,000 - The RM Training account comes under the RM Base ministry and donors (primarily other churches) give permission for their donations into RM Base to also support and contribute to the RM Training work
## Transfers between Restricted Funds
There were also transfers between individual Restricted Funds in 2022/23 representing:
|Church Plant Fund
Liverpool Fund
Tottenham Fund
Base Fund|-
(1,560)
Flights and Travel Costs
-
(35)
Spend of £35.31 paid from Base fund
-
(1,200)
Internal Gift Mercy Ministries
2,795
-
2,795
(2,795)|
|---|---|
15
## **REVELATION CHURCH - LONDON**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023**
## **4. RESTRICTED FUNDS**
Restricted funds are represented at 31st March 2023 by:
**----- Start of picture text -----**
31-Mar-23
£
Cash at bank and in hand 471,198
Stock (donated goods) 10,616
Assets (Debtors) 6,392
Liabilities (Creditors) (1,965)
TOTAL 486,241
**----- End of picture text -----**
## **RESTRICTED FUNDS - PREVIOUS FINANCIAL YEAR**
|Building Fund
Church Plant Fund
Foodbank Fund
London Church Plant Fund
Tottenham Church Plant Fund
2:45 Fund
Base Fund
Liverpool|**Balance**
Stock
**Balance**
**01-Apr-21**
Revaluation
Income
Expenditure
Transfer
**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**|
|---|---|
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|
|---|---|
16
## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023**
## **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. The charge is dated 30th May 2021.
## **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-22**
Adjustment
Income
Expenditure
Transfer
**31-Mar-23**
£
£
£
£
£
£
30,003
-
119
-
-
30,122
85,145
-
95,953
(56,958)
(54,652)
69,488
115,148
-
96,072
(56,958)
(54,652)
99,610|
|---|---|
## **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-23**
**31-Mar-22**
£
£
**£**
**£**
187,567
471,198
658,765
647,276
**187,567**
**471,198**
**658,765**
**647,276**
Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Mar-23**
**31-Mar-22**
£
£
**£**
**£**
7,113
962
8,075
4,418
9,750
5,430
15,180
5,371
**16,863**
**6,392**
**23,255**
**9,789**|
|---|---|
17
## **REVELATION CHURCH - LONDON**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023**
## **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-23**
**31-Mar-22**
£
£
**£**
**£**
1,890
-
1,890
1,812
7,411
-
7,411
6,344
5,910
1,965
7,875
1,840
**15,211**
**1,965**
**17,176**
**9,996**|
|---|---|
## **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.
## **10. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Tangible Fixed Assets
Net Current Assets
Long Term Liabilities
Tangible Fixed Assets
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
**TOTAL**
Funds
Funds
**2022/23**
£
£
£
-
-
-
189,219
486,241
675,460
-
-
-
**189,219**
**486,241**
**675,460**
Unrestricted
Restricted
**TOTAL**
Funds
Funds
**2021/22**
£
£
£
-
-
-
226,153
428,905
655,058
-
-
-
**226,153**
**428,905**
**655,058**
**CURRENT FINANCIAL YEAR**
**PREVIOUS FINANCIAL YEAR**|
|---|---|
18
## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023**
## **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 2023/(2022)
**12. STAFF COSTS AND NUMBERS**
Gross Wages & Salaries
Self Employed Consultants
Employer's National Insurance Costs
Pension Contributions|**2022/23**
**£**
14,474
5,928
**20,402**
655,058
**675,460**
**TOTAL**
**2022/23**
**£**
253,283
23,730
15,060
12,423
**304,496**|**2021/22**
**£**
71,776
-
**71,776**
583,282
**655,058**
**TOTAL**
**2021/22**
**£**
225,791
31,050
15,025
11,269
**283,135**|
|---|---|---|
Total average number of employees (includes full and part time staff members) who were engaged in the following activities:
|Charitable Activities|**TOTAL**
**2022/23**
15
**15**|**TOTAL**
**2021/22**
14
**14**|
|---|---|---|
The Charity operates a PAYE Scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000 (2021/22:None)
The Charity also utilised the services of three self employed consultants during the year. The total amount paid was £22,093 (2021/22: £20,498).
The Charity had 4 full time staff and 10 part time staff at the start of the year, and 2 full time staff and 12 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 13 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 £84,845 (2021/22: £88,324)
19
## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023**
## **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
2022/23
2021/22
£
£
£
£
32,000
4,969
36,969
41,615
32,000
4,969
36,969
41,615
**Amounts paid or benefit value**|
|---|---|---|
The only 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 £15,400 (2021/22: £14,300) 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 2023**
## **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 opening stock
Donated Food
Purchased Food
Distributed Food
Transferred to Euston Foodbank
Disposed as waste
Revaluation of closing stock
Stocks of Food at end of year|**2022/23**
**£**
7,989
2,245
28,211
3,310
(29,434)
(2,602)
(2,786)
3,683
**10,616**|**2021/22**
**£**
2,549
-
27,233
2,498
23,024
-
1,267
-
**7,989**|
|---|---|---|
The estimated cost of food in 2021/22 was calculated by weight at an average cost as calculated by the Trussell Trust for London foodbanks of £1.85 per kg. In 2022/23 The Trussell Trust updated their stock value data and 1kg of food stock is now valued at £2.37 per kg. The total weight of food donated and purchased during this financial year was 14,854kg (2020/21: 16,070kg). The total weight of food distributed in this financial year was 12,420kg (2020/21: 12,445kg). The Charity held food stocks of 4,479kg as at the 31st March 2023 (at 31st March 2022: 4,318kg).
## **18. REVISED FORMAT**
These accounts, in particular the detail provided for income and expenditure have been presented in a slightly different format to previous reporting periods to create greater clarity. No figures have been restated.
21
## **REVELATION CHURCH - LONDON (A COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31ST MARCH 2023**
|**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)|2022/23
2021/22
£
£
**8,191**
**68,641**
3,298
1,171
3,298
1,171
-
-
-
-
11,489
69,812
647,276
577,464
**658,765**
**647,276**|
|---|---|
## **(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
Gain on revaluation of stock
**Net cash used in operating activities**
**(b) Analysis of cash and cash equivalents**
Cash at bank and in hand
**Total cash and cash equivalents**|2022/23
2021/22
£
£
14,474
71,776
(3,298)
(1,171)
(2,627)
(5,440)
(13,466)
(1,643)
7,180
5,119
5,928
-
**8,191**
**68,641**
2022/23
2021/22
£
£
658,765
647,276
**658,765**
**647,276**|
|---|---|
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 2023.
## **Responsibilties and basis of report**
As the charity’s trustees of Revelation Church - London, (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Revelation Church - London are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 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 member of the Association of Charity Independent Examiners.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- accounting records were not kept in respect of Revelation Church - London as required by section 386 of the 2006 Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
- the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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: 7th September 2023 J Irvinesmith FCIE Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
23