OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Restoration Revival Fellowship

2024-03-31-accounts

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

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 2024

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J. Stewart
K. Chaplin
C. Goodin (Trustee only)
R. Denny
L. Mullings
G. T. Mullings (Director only)
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
Level 5a, Maple House
149 Tottenham Court Road
London
W1T 7NF

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

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: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

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 300 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.

Nursery closure as of 31[st] August 2024

The trustees report that following a review of Alpha and Omega nursery by the trustees, and feedback from OFSTED, it has been decided that the nursery should close. This decision was not taken lightly; however, the trustees are of the view that this decision was in the best interest of the charity.

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 (Trustee only)

R. Denny

L. Mullings

G. T. Mullings (Director only)

R. Aiken

H. Clarke

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The trustees' report was approved by the Board of Trustees.

.............................. BA9CDA9751E64EB... J. Stewart

Trustee

08-Nov-2024 Date: .............................................

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

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 2024.

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:

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 Level 5a, Maple House 149 Tottenham Court Road London W1T 7NF 08-Nov-2024

Dated: .........................

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 3 330,144 313,534
Investments 4 59 9
Total income 330,203 313,543
Expenditure on:
Charitable activities 5 235,513 228,843
Other expenditure 9 22,457 15,879
Total expenditure 257,970 244,722
Net income and movement in funds 72,233 68,821
Reconciliation of funds:
Fund balances at 1 April 2023 1,297,120 1,228,299
Fund balances at 31 March 2024 1,369,353 1,297,120

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

BALANCE SHEET

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 10 1,555,810 1,565,992
Current assets
Cash at bank and in hand 59,011 49,292
Creditors: amounts falling due within 11
one year (95,436) (92,166)
Net current liabilities (36,425) (42,874)
Total assets less current liabilities 1,519,385 1,523,118
Creditors: amounts falling due after
more than one year 12 (150,032) (225,998)
Net assets 1,369,353 1,297,120
The funds of the charity
Unrestricted funds 14 1,369,353 1,297,120
1,369,353 1,297,120

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 2024.

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.

08-Nov-2024

The financial statements were approved by the trustees on .........................

.............................. BA9CDA9751E64EB... J. Stewart

Trustee

Company registration number 06824869 (England and Wales)

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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. 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.

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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.

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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
2024 2023
£ £
Donations 229,149 220,574
Other general grants 100,995 92,960

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 59 9
5 Charitable activities
2024 2023
£ £
Staff costs 135,709 146,234
Depreciation and impairment 5,091 5,085
Staff training 578 -
Kitchen & food supplies 4,210 2,752
Travel and subsistence 613 -
Printing, postage and stationery 1,054 530
Water, electricity and gas 13,570 12,492
Telephones & broadband 789 713
IT expense and software 38 -
Nursery expenses 4,933 5,632
Rent 3,000 3,000
Cleaning and waste disposal 2,204 1,810
Rates 932 -
Health and safety 479 2,630
Insurance 1,552 1,460
Rates 261 1,955
Building fund expenses 9,668 4,806
184,681 189,099
Share of support costs (see note 6) 48,972 37,404
Share of governance costs (see note 6) 1,860 2,340
235,513 228,843

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

6
Support and Governance costs
Support
costs
Governance
costs
£
£
Support costs
48,972
-
Accountancy
-
1,860
48,972
1,860
Analysed between
Charitable activities
48,972
1,860		 2024Support costs Governance
costs
£
£
£
48,972
37,404
-
1,860
-
2,340
50,832
37,404
2,340
50,832
37,404
2,340		 2023
£
37,404
2,340
39,744
39,744

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 £2,100 (2023£2,100) 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		 2024
Number
12
2024
£
133,268
816
1,625
135,709		 2023
Number
12
2023
£
144,433
640
1,161
146,234

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

9 Other expenditure

Unrestricted Unrestricted
funds funds
2024 2023
Financing costs 22,457 15,879
10 Tangible fixed assets
Freehold land Plant and
Fixtures and		 Total
and buildings equipment fittings
£ £ £ £
Cost
At 1 April 2023 1,535,497 1,825 116,367 1,653,689
At 31 March 2024 1,535,497 1,825 116,367 1,653,689
Depreciation and impairment
At 1 April 2023 - 1,799 85,898 87,697
Depreciation charged in the year - 26 10,156 10,182
At 31 March 2024 - 1,825 96,054 97,879
Carrying amount
At 31 March 2024 1,535,497 - 20,313 1,555,810
At 31 March 2023 1,535,497 26 30,469 1,565,992
11 Creditors: amounts falling due within one year
2024 2023
Notes £ £
Bank loans 93,000 86,476
Other taxation and social security 336 3,350
Accruals and deferred income 2,100 2,340
95,436 92,166
12 Creditors: amounts falling due after more than one year
2024 2023
Notes £ £
Bank loans 150,032 225,998

Docusign Envelope ID: B3332562-8189-4BD0-A127-84A5F4EAAA99

RESTORATION REVIVAL FELLOWSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

13 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 1,625 1,161

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

14 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
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
1,297,120
330,203
(257,970)
1,369,353
At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
1,228,299
313,543
(244,722)
1,297,120

15 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).