DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
Charity registration number 1130016
Company registration number 06824869 (England and Wales)
RESTORATION REVIVAL FELLOWSHIP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | J. Stewart |
|---|---|
| K. Chaplin | |
| C. Goodin | |
| R. Denny | |
| L. Mullings | |
| G. T. Mullings | |
| R. Aiken | |
| H. Clarke | |
| Secretary | M. Lazarus |
| Charity number | 1130016 |
| Company number | 06824869 |
| Principal address | 41 Eastcote Avenue |
| Greenford | |
| Middlesex | |
| UB6 0NG | |
| Registered office | 41 Eastcote Avenue |
| Greenford | |
| Middlesex | |
| UB6 0NG | |
| Independent examiner | Robert Barry Perez |
| Silver Levene (UK) Limited | |
| Chartered Certified Accountants | |
| 37 Warren Street | |
| London | |
| W1T 6AD |
DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 12 |
DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their annual report and financial statements for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The charity's objectives are to advance the Christian faith in such ways and in such parts of the UK or the world as the trustees may time to time think fit; to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in the UK or the world as the trustees may think fit; to advance education in such ways and in such parts of the UK and the world as the trustees may think fit.
The charity has been running a foodbank once a week, and this has been very well received within the local community. The charity has continued its links with branches in India, Cameroon and Kenya, as well as regular feedback from UK sister churches in Luton and Harrow.
Achievements and performance
The charity has over 150 live broadcasts via YouTube, Facebook live and Zoom, of meetings and teachings annually reaching a global audience. The trustees are grateful to church members and contributors who have maintained their contributions over the years, in so doing, financing international missions, local outreach and the church.
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The charity was incorporated as a company limited by guarantee on 19th February 2009 and was registered with The Charity Commission on 08th June 2009.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
J. Stewart
K. Chaplin
C. Goodin
R. Denny L. Mullings G. T. Mullings R. Aiken
H. Clarke
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DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
The trustees' report was approved by the Board of Trustees.
..............................
J. Stewart Trustee 10-Dec-2023 Date: .............................................
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DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RESTORATION REVIVAL FELLOWSHIP
I report to the trustees on my examination of the financial statements of Restoration Revival Fellowship (the charity) for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of 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
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4 the financial statements 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 financial statements to be reached.
Robert Barry Perez Silver Levene (UK) Limited Chartered Certified Accountants 37 Warren Street London W1T 6AD 10-Dec-2023 Dated: .........................
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DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
| **Unrestricted ** | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 313,534 | 382,202 |
| Investments | 4 | 9 | 1 |
| Total income | 313,543 | 382,203 | |
| Expenditure on: | |||
| Charitable activities | 5 | 228,843 | 287,931 |
| Other expenditure | 9 | 15,879 | 19,003 |
| Total expenditure | 244,722 | 306,934 | |
| Net income for the year/ | |||
| Net movement in funds | 68,821 | 75,269 | |
| Fund balances at 1 April 2022 | 1,228,299 | 1,153,030 | |
| Fund balances at 31 March 2023 | 1,297,120 | 1,228,299 |
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
BALANCE SHEET
AS AT 31 MARCH 2023
| Notes Fixed assets Tangible assets 10 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current (liabilities)/assets Total assets less current liabilities Creditors: amounts falling due after more than one year 12 Net assets The funds of the charity Unrestricted funds |
2023 £ £ 1,565,992 49,292 92,166 (42,874) 1,523,118 (225,998) 1,297,120 1,297,120 1,297,120 |
2022 £ £ 1,576,162 38,430 2,152 36,278 1,612,440 (384,141) 1,228,299 1,228,299 1,228,299 |
|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
10-Dec-2023
The financial statements were approved by the trustees on .........................
..............................
J. Stewart
Trustee
Company registration number 06824869 (England and Wales)
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DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Charity information
Restoration Revival Fellowship is a private company limited by guarantee incorporated in England and Wales. The registered office is 41 Eastcote Avenue, Greenford, Middlesex, UB6 0NG.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
The UK economy is currently facing unprecedented uncertainty about the impact of the COVID-19 pandemic, together with the extent and duration of social distancing measures imposed by the UK Government. The trustees have foreseen the challenges in the coming months and considered carefully the potential impact of these matters. In taking into account available cash resources (including access to existing financing facilities) and the extent of support provided by the UK Government announced as of the date of signing these financial statements, the trustees have continued to adopt the going concern basis of accounting.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Plant and equipment 20% Straight line method
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.9 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Donations | 220,574 | 282,200 |
| Other general grants | 92,960 | 100,002 |
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DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 4 | Income from investments | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Interest receivable | 9 | 1 | |
| 5 | Charitable activities | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Staff costs | 146,234 | 154,154 | |
| Depreciation and impairment | 5,085 | 5,088 | |
| Staff training | - | 469 | |
| Kitchen & food supplies | 2,752 | 2,206 | |
| Printing, postage and stationery | 530 | 747 | |
| Water, electricity and gas | 12,492 | 9,836 | |
| Telephones & broadband | 713 | 832 | |
| Nursery reactive maintenance | 5,632 | 2,209 | |
| Rent | 3,000 | 3,000 | |
| Cleaning and waste disposal | 1,810 | 1,907 | |
| Health and safety | 2,630 | 4,804 | |
| Insurance | 1,460 | 1,386 | |
| Rates | 1,955 | 539 | |
| Building fund expenses | 4,806 | 65,770 | |
| 189,099 | 252,947 | ||
| Share of support costs (see note 6) | 37,404 | 33,004 | |
| Share of governance costs (see note 6) | 2,340 | 1,980 | |
| 228,843 | 287,931 |
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DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 6 Support and Governance costs Support costs Governance costs £ £ Support costs 37,404 - Accountancy - 2,340 37,404 2,340 Analysed between Charitable activities 37,404 2,340 |
2023Support costs Governance costs £ £ £ 37,404 33,004 - 2,340 - 1,980 39,744 33,004 1,980 39,744 33,004 1,980 |
2022 £ 33,004 1,980 |
|---|---|---|
| 34,984 | ||
| 34,984 |
Support costs represent a reasonable apportionment (with the balance being apportioned as disclosed above) of expenditure incurred. Governance costs includes payments to the independent examiner of £2,340 (2022£1,980) for independent examination.
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs |
2023 Number 12 2023 £ 144,433 640 1,161 146,234 |
2022 Number 14 |
|---|---|---|
| 2022 £ 150,579 2,249 1,326 |
||
| 154,154 |
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
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DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
9 Other expenditure
| Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2023 | 2022 | |||||
| Financing costs | 15,879 | 19,003 | ||||
| 10 | Tangible fixed assets | |||||
| Freehold land | Plant and | Fixtures and |
Total | |||
| and buildings | equipment | fittings | ||||
| £ | £ | £ | £ | |||
| Cost | ||||||
| At 1 April 2022 | 1,535,497 | 1,825 | 116,367 | 1,653,689 | ||
| At 31 March 2023 | 1,535,497 | 1,825 | 116,367 | 1,653,689 | ||
| Depreciation and impairment | ||||||
| At 1 April 2022 | - | 1,785 | 75,742 | 77,527 | ||
| Depreciation charged in the year | - | 14 | 10,156 | 10,170 | ||
| At 31 March 2023 | - | 1,799 | 85,898 | 87,697 | ||
| Carrying amount | ||||||
| At 31 March 2023 | 1,535,497 | 26 | 30,469 | 1,565,992 | ||
| At 31 March 2022 | 1,535,497 | 40 | 40,625 | 1,576,162 | ||
| 11 | Creditors: amounts falling due within one year | |||||
| 2023 | 2022 | |||||
| Notes | £ | £ | ||||
| Bank loans | 86,476 | - | ||||
| Other taxation and social security | 3,350 | 172 | ||||
| Accruals and deferred income | 2,340 | 1,980 | ||||
| 92,166 | 2,152 | |||||
| 12 | Creditors: amounts falling due after more than one year | |||||
| 2023 | 2022 | |||||
| Notes | £ | £ | ||||
| Bank loans | 225,998 | 378,028 | ||||
| Other borrowings | - | 6,113 | ||||
| 225,998 | 384,141 |
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DocuSign Envelope ID: 9D630227-3050-4523-B438-87DCD25071A0
RESTORATION REVIVAL FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
13 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| General funds Previous year: General funds |
At 1 April 2022 Incoming resources Resources expended At 31 March 2023 £ £ £ £ 1,228,299 313,543 (244,722) 1,297,120 At 1 April 2021 Incoming resources Resources expended At 31 March 2022 £ £ £ £ 1,153,030 382,203 (306,934) 1,228,299 |
|---|---|
14 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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