Charlty roglstratlon numbèr 1138551 Company registrntlon number 07381412 (England and Wales) REVELATION COMMUNITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 Caladine Chartered Certified Accountants
REVELATION COMMUNITY LEGAL AND ADMINISTRATIVE INFORMATION Trustees A Benson R Bradberry A Brinded N Mcintyre R Sabin J Stone (Appointed 22 March 2023) Charlty number 1138551 Company number 07381412 R•g18tered offl¢• Revelatlon Family Church 104 The Homet Chichester P019 7JR Independent examln•r John Caladine FCCA CTA FCIE Caladlne Llmited Chantry Hou8e 22 Upperton Road Eastboume East Sussex BN211BF
REVELATION COMMUNITY CONTENTS Page Trnstèas, report Independent examlnefs report Statement of flnanclal actlvitie8 Balgnc8 sheet Notss to the financlal Statements 7-16
REVELATION COMMUNITY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 29 FEBRUARY 2024 The trustees present their annual report and financoal slatements for the year ended 29 February 2024. The financial statements have been prepared In accordance with the accountlng pollcles set out in note I to the financial statements and comply with the charily's governing docufflent, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Objectlves and actlvitla8 The Charity has continued to proclaim and teach the Christian Gospel and care for Christian people in the community of Chichester through various Church meetings and activities. The Charity has also sought the relief of persons in need and have sought the advancement of educatlon on the basls of Christian principles through lessons, assemblies and Christian groups in local schools and unlversilies, as well as communlty-based clubs. The policy of the Charity continues to be to seek financial support to continue to pursue the objectlves above and provide community development projects for children, young people and those In need. When planning the activilies for the year, the Trustees have considered the Commission's guidance on public benefit and, in partlcular, the specific guidance on charilies for the advancement of religion. Achlovements and performance Slgnificant 8clivities and achievem8ntS 8gainsl objectlV8S Staff Team Shift This year has marked a substantial change In our staff te8m as we have continued to progress oul of the Covid Pandemic and looked to grow our community involvement and further our charltable purposes. Our prevlous covid era production team moved on as vldeo-link church meetlngs went back to in-person meetings. We ended the year recruiting a team ready for a new era, being a Buildings Administrator and Church Admlni5trator. They will joln our existing ieam of four pivotal members, a Team Leader, Youth Worker, Children & Families Worker, and Community Outreach Worker. As one year ends and other year starts this will support our church's vlsion and operational needs, enabling us to better serie our congregation and the wider communlty. Leadership Team Grovrth Our Core Leadershlp Team has also seen changes with one member movlng on at the end of 2023 and the addition of bNO new members at the beglnning of 2024. This expansion has infused fresh perspectives and energy Into our leadership, helping us navigate and steer the church towards achleving our goal8. Communlty Engagement and Facility Use We continue lo witne5S the growing use of our ONE-O-FOUR building by local charlties and community groups, an essential aspect of our engagement with the local community. This year, our community projects Storehouse Pop- ups, NewGrounds Lunch, Sparklers, and the Make Lunch ClulAave thrived, providing much-needed support and services to many individuals and families. These initiatives have not only helped those in need but also strengthened our church's presence and impact in the local area. Growth in Gatherings Our church gatherings have continued to grow and evolve. We trialed moving our evening gatherings to a weekly schedule throughout the second half of 2023, but after careful review and feedback, we returned to a monthly fomiat to better meet the need5 of our community- This new format focusses on prayer and Sung worship. This flexibility has allowed us to maintain vibrant and meaningful worship experiences.
REVELATION COMMUNITY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 Celebrating 40 Year5 This year marked a slgnificant milestone as we celebrated our church's 40th anniversary. Thls celebration has been 'me to reflect on our joumey, honour our past. and look forward to our future with renewed vigour and faith. As a part of thi5 we held a gift day, lo sow financialty into the future of church life. Volunteer Teams and Culture A key highlight of this year has been the strength and dedication of our volunteer teams. Our church comrnunity thrives on the culture of volunteerism, with numerous individuals stepping up to serve In various capacrties. This strong volunteer culture is a testament to the commitment and heart of our congregation. Youth and Children's Min15tries We have placed a renewed focus on developing our Youth and Klds ministries this year. We have used this year to focus on vibrant youth groups, the relaunching of our Youth & Kids Small Groups and develop and grow an active involvement in local schools. We are nurturing the next gener8tion, providing them with support, guidance, and a strong foundation in fallh. Flnanclal revi•w During the year, the Church recelved total income of £282,536 (2023: £267,849), wlth an overall deficit for the year of£46,529 (2023.. deflclt of£108,255}. Total funds at the end of the year were £397,132 (2023= £443,661), of which £97,748 (2023.. £86,220) were considered by the Trustees to be "free reserves, i.e. unrestricted fund5 whlch have not been designated for a specific purpose and are not tled up in flxed assets. Reserves policy It is the policy of the charity that free reserves should be malntained at a level equivalent to between three and slx month's expenditure. The Trustees consider thal maintaining reserves at thls level will ensure that, in the event of slgnificant drop in funding, they will be able to continue the charity's current activltles while consideration is given to ways in which additional funds may be raised. Free reserves at the end of the year exceeded the 3 month's expendlture benchmark, but W8re not sufficient to cover 6 rnonth's budgeted expendlture., the Trustees wlll keep this under review. Plans for futurè perlods Looking ahead, our focus for 2024-2025 15 on deepening our community impact and further developing our church prograrnmes and facilitie5. strengthenlng Communlty Ovtrea¢h'. We alm to enhance our existlng community project5 and explore new inltiatives that address emerging needs within our community. Thi5 includes expanding the Make Lunch Club and enhancing the support provided through NewGrounds Lunch and Sparklers. 2. Faclllty Enhancement5'. Continued development of the ONE-O-FOUR buildlng to better serve as a hub for communlty activities and sUPPOrt. This looks like renovation of the floor and potentlal renovation of the upstairs space in order to provide a dedicated youth space. 3. Vision & Values: We aim to neW and bring clarity to our Vision, Mission & Values to present and use these in all aspects of church life. Alongside this we would look to rebrand and modemise our church branding. 4. Small Group Development.. Investing in our Small Group leaders through training and development programmes, ensuring Ihey are welkequipped and 5UPPOrted in their roles. Structure, governance and management The charity is controlled by its Memorandum and Articles of Assouation, as constitutes a limiled company, limlted by guarantee. as defined by the Companies Act 2006.
REVELATION COMMUNITY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY2024 The trustees, who are a150 th8 dlreclors for Ihe purpose of company18w, and who served during the year and up to the date of signature of the financial statements were: R ATrn5trong A Benson R Bradbery A Brinded N Mcintyre R Sabin J stone (Resigned 8 April 2024) (Appointed 22 March 2023) The Trustees meet regularly during the year but delegate the day-to-day responsibility for administering the activities of the charity to a Leadership Team who are also responsible for overseeing the charity's employees and lialsing with others to whom the Trustees have contracted to undertake various projects and Initiatives. The pay of the senior staff Is reviewed annually and normalty increased in accordance with average eamings. In vlew of Ihe nature of the charlty, the Trustees benchmark agalnsl pay levels in other charities of slmllar size. The remuneratlon benchmark Is the mid-point of the range paid for slmilar roles, Inductlon and tralnlng of new Trustees Trustees are proposed and elected by the members ol the charity (who are leaders of the church fellowship) al any general meeting. The minimum number ofTrustee6 shall be thre8. Newly appointed Trustees are provided wlth a comprehensive inductlon to the charity through provision of trainlng courses and orientatlon by established Trustees. Risk management The Trustees have 8 duty lo identify and review the risks to which the charity Is exposed and to ensure approprrate controls are in place to provlde reasonable 8ssurance against fraud and error, These Tlsks ara revlewed on a regular basls and included in Trustee meelings, ensuring all aspects of the charity's work are covered. Systems and procedures have been establlshed to mitigate the rtsks the charity face8. The main risks 8nd unc8rtalnties being faced by the ¢harlty are potential buildlng related problems that prevent the charity from belng able to function property and cary out our activities and sepiices, staff changes, faIlU to safeguard children and vulnerable adults, injury resulting from accidents durlnu activities held by the chaTIty and variation to income through changes in individual donations. Safeguarding procedures and pollcies are in place and training provided for all staff and volunteers, There is a robust safer recruiting procedure in operation for all posts and volunteer role5. There is an annual safeguarding review. The safeguarding policy is publicly avallable. Procedures and pollcie5 are in place and training is provided to ensure risk is minimised and compliance wlth health and safety to staff, volunteers, clients and visitors to the church's meetings and activities. The tTUStees' report was approved by the Board of Trustees. Andrew 86nson A Benson Trustee Date.. 26th Seolemb8r 2024
REVELATION COMMUNITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REVELATION COMMUNITY I report to the trustees on my examination of the financial ststements of Revelation Community (the charity) for the year ended 29 February 2024. Responglbllltles and basig of report As the trustees of the charity land a150 ils dlrectors for the purposes of company law) you are responsible for the preparation of the financlal statements In accordance with the requirements of the Companles Act 2006 (the 2006 Act). Having satisfied fflyself that the financial statements of the charity are nol requlred to be audited under Part 16 of the 2006 Act and are eliglble for independent examinatlon, I report in respect of my examinatlon of the chaTty's financial statements carried out under section 145 of the Charities Act 2011 {the 2011 Act). In carrying out my examination I hav8 followed all the appllcable DiTectlons glven by the Charity Commission under section 145(5)Ibl of the 2011 Act. Independent examlner's statement Slnce the charfty's gross Incorne exceeded £250,000 your examiner must be 8 member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Associats'on of Chartered Certified Accountants, which Is one of the listed bodies. I have completed my examinatlon. I confirm that no matters have come to my attentlon In connectlon wlth the examlnation givlng me cause to believe that in any materlal respect.. accounting record5 were not kept in respect of the charlty as requlred by section 386 of the 2006 Act; or the financial statements do not accord with those records., or the finanual statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement th8t the accounts give a true and fair view which is not a matter consldered as part of an Independent examlnation., or the financial statements have not been Prepared In accordance wlth the method5 and prfnclples of the statement of Recommended Pr8Ctice for accounting and reporting by charflles applicable to charities preparing their accounts in accordance wlth the Financial Reportlng Standard appllcable in the UK and Republic of Ireland {FRS 102>. I have no concems and have come across no other matters in conne¢tlon wilh the examlnatlon to which attentlon should b rawn In this rep rt In order lo enable a proper understanding of the flnanclal statemen1$ to be reached. John Caladlne FCCA CTA FCIE Caladine Llmlted Chantry House 22 Upperton Road Easlbourne E8St Sussex BN21 1BF Dated..
REVELATION COMMUNITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 29 FEBRUARY2024 Unrnstrlcted Restrictsd funds funds 2024 2024 Total Unrestricted Restrlcted funds funds 2023 2023 Totsl 2024 2023 Notes Income from: Donatlons and legacies Charitable activitles Investments 237,302 30,502 1,539 13,193 250.495 30,502 1,539 203,281 17.304 363 11,741 35,160 215,022 52,464 363 Total Income 269,343 13.193 282,536 220,948 46,901 287,849 Expendlture on: Charitable activiti88 257,767 71,298 329,065 271,473 104,631 378,104 Tol•l expendltura 257,767 71,298 329,065 271.473 104,631 376,104 Net Incomellexpendlturel and movemant In funds 11,576 (58,105) (46,529) 150,525) 157.730) (108,255) R•conclllatlon of fund8: Fund balances at 1 March 2023 99,735 343,926 443,661 150,280 401.656 551,916 Fund balances at 29 February 2024 111,311 285,821 397.132 99,735 343,926 443.661 The staternent of financlal actlvllles Includes 811 galns and losses recognised in the year. All income and expenditure derlve from continuing activltles.
REVELATION COMMUNITY BALANCE SHEET AS AT29 FEBRUARY2024 2024 2023 Notes Flxed assets Tanglble assets 12 298,240 351.730 Currant a8set8 Debtors Cash at bank and In hand 13 14.038 96,918 15,588 86,383 110,954 101,951 Credltor5: •mounts falllng du• wlthln one year 14 {10,062) (10,020) Not current ••set8 100,892 91,931 Net a88ets 397,132 443,661 The funds of the charlty Restricted Income funds Unrestricted funds 16 285,821 111,311 343,926 99,735 397,132 443,661 The company Is entitled to the exemption Irom the audtt requirement contalned in section 477 of the Companles Act 2008. for the year ended 29 February 2024. The directars acknowledge their responslbilities for complylng wlth the requlrements of the Companles Act 2006 with respect to accountlng records and the preparation of ffinandal statements. The members have not requlred the company to obtaln an audlt of Its financial 8tatemenls for the year In question in accordance with sectlon 476. These flnancial statements have been prepared In accordance wfth the provisions appllcable to compan188 subject to the small companies regime. The financlal st8tements were approved by the trustees on 18.*t¢mber 2024 Andrew Benson.... A Ben50n Trustee Company reglstration number 07381412 (England and Vvales)
REVELATION COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 Accountlng policie8 Company infomiatlon Revelation Community Is a private company limited by guarantee incorporated in England and WaleB. The registered office is Revelation Family Church, 104 The Homet, Chichester, P019 7JR. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the charity5 Memorandum and Artides of Association, incorporated 20 September 2010, as amended by Special Resolution dated 15 December 2016, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" { FRS 1021 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (8ffective 1 January 2019). The Charity Is a Public Benefit Entity as defined by FRS 102. The charity ha8 laken advantage of the provlslons in the SORP for charities nol to prepare a Statement of Cash Flows. The flnancial statements are prepared In sterling, which Is the funcilonal currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The flnanclal st8tements have been prepared under the historical cost convention, Imodified to Include the revaluation of freehold properties and lo include investment properties and certaln financial Instruments al fair valuel. The principal accounting policies adopted are set out below. 1.2 Golng concom At the time of approving the financlal statements, the trustees have a reasonable expectatlon that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the truslees continue to adopt the going concern basls of accounting in preparing the financial statements. 1.3 Charltable fund8 Unrestricted funds are avallable for use at the discretion of the trustees in furtherance of their charltable objectives. Restricted funds are sublecl to 5pe¢lfic conditions by donors or grantors 85 to how they may be used. The purposes and uses of the restricted funds are set out in the nole8 to the financial slatements. Endowment funds are subject to specific conditlons 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 OT deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or othewwi5e if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, Ihe legacy is treated as a contingent asset.
REVELATION COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 Accountlng policies (Continued) 1.5 Expendlture Expenditure Is recognised once there is a legal or constructive obligation to transfer economic benefit to a thlrd party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obllgatlon can be measured reliably. Expenditure Is classrfied by actlvty. The costs of each activity are made up of the tolal of direct Gosts and shared costs, including support costs involved in undertaking each activlty- Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one aclivity and support costs which are not attributable to a single activity are apportioned belween those activities on a basi$ consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portlon of the asset's Use. 1.6 Tanglble flxed assets Tangible fixed assets are Initially measured at cost and subsequently measured at cost or valuatlon, net of depreclation and any impairment losse5. Depreciation is recognised $0 8S to wrlte off the cost or valuats'on of assets less their residual values over their useful lives on the following basls.. Leasehold18nd and buildings Fixtures and fittings Office and activitles equipment Over period of lease 200/0 on cost 33Yo on cost The gain or loss arising on the disposal of an asset 18 deteTmlned as the dnyerence between the sale proceed8 and the carying value of the asset, and is recogni5ed in the statement of financial actlvities. 1.7 Impalrmont of fixad as8etg At each reportlng end date, the charlty reviews the carying amounts of its tsngible assets to determina whether there is any indication that those assets have suffered an impalrment loss. If any such indicallon 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 •qulvalent8 Cash and cash equivalents Include cash in hand, deposlts held at C811 with banks, other short-term Ilquld investrnent5 Wlth origlnal maturities of three monlhs or less, and bank overdrafts. Bank overdrafts are shown wlthin borrowings in current liabilities. 1.9 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 '8asic Flnanclal Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised In the charity's balance sheet vthen the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, wilh the net amounts pre5enled in the financial statements, when there is a legally enforceable right to set off the recognised amount5 and there Is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
REVELATION COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY2024 Accountlng policieg (Continued Basic flnancial assets Basic financlal assets, which indude debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carri8d at amortised cost uslng the effective interest method unless the arrangement constitutes a financing transactlon, where the transaction is measured at the present value of the future receipts discounted at a markel rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financlal Ilabllltles Basic financial liabilities. including creditors and bank loans are Inltlally recognised at transaction price unless the arrangement constitute5 a financlng transactlon, where the debt instrument is measured al the present value of the future payments discounted at a market rate of intere8t. Financlal liabilltles classified as payable within one year are not amortised. Debt instruments are subsequentty Caled at amortised cost, uslng the effective Interest rate method. Trade creditors are obllgations to pay for goods or services that have been acquired in the ordinary course of operations from suppllers. Amounts payable are classified as current liabilities rf payment is due wlthin one year or less. If not, Ihey are presented as non-currenl liabilities. Trade creditors are recognSsed inrtialty at transaction price and subsequently measured at amort15ed c05t using the effective Interest method. Derecognltlon ol flnanclal liabilitles Financial liabilities are derecognlsed when the charity's contractual obligatlons explre or are dlscharged or cancelled. 1.10 Employee benoflt8 The cost of any unused holiday entitlement Is reco9nlsed In the period in which the employee's services are received. Termination benefits are recognised Immediately 85 an expense when the charity is demonstrably commltted to temiinate the employment of an employee or to provide terminatlon benefits. 1.11 Retlrement b•neflt8 Payments lo defined contrlbutlon retlrement beneflt schemes are tharged as an expense as they fall due. Crltlcal accountlng estlmate8 and Judgem•nts In the application of lh8 charity's accounting pollcles, the trustees are requlred to make judgements, estlmates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estlmates and associated assumptions are based on historical experlence and other factors that are con51dered to be relevant. Actual results may drffer from these estimates. The estimales and undedying assumptions are reviewed on an Dngoing ba51s. Revlslons to accounling estimates are recognised in the period in which Ihe estimate is revised where the revision affects only that period, or in the period of the revision and fvture periods where the revision affects both current and future periods.
REVELATION COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY2024 Donations and lagacles Unrestricted Reslrfcted funds funds Total Unrestricted Restrlcted lunds funds Total 2024 2024 2024 2023 2023 2023 Donailon8 and glfts Grants receivable 237,302 6,893 6,300 244,195 6,300 203,281 1.741 10,000 205,022 10,000 237,302 13,193 250.495 203,281 11,741 215,022 Income from charltable •ctlvltles Unrestrlcted Restrlcted fund• fund8 2024 2024 Total Unre8trlcted Rèstrlclod lund8 funds 2023 2023 Total 2024 2023 Charltable actlvltlo4 Ser4ices to charltles Charitable rental Income Other income 35,160 35,160 15,356 1,948 24,727 5,775 24,727 5,775 15,356 1,948 30,502 30,502 17,304 35,160 52,464 Income from Inve8tm¢nts Unrestrlctèd Unrestricted funds fund$ 2024 2023 Interest recelvable 1,539 383 10-
REVELATION COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 29 FEBRUARY 2024 Expenditure on charltable activities Church Church 2024 2023 Direct eosti staff costs Training and development Small equipment and consumables Events, food and hospitality Travel and sub51stence Repalrs, maintenance and cleanlng Casual labour Donations (Individuals) Donatlons lorganlsatlons) Miscellaneous 111,599 6,313 15,123 11,622 6,582 22,109 1,561 7,248 17,727 479 162,099 8.830 18,769 13.810 2,519 18,282 4,187 15,379 1,163 200.383 242,582 Share of support and govemance co•ts (See nots 7) Support Govemance 123,437 5,265 129,719 3,803 329,065 376,104 Analy81s by fund Unrestricted funds Restricted funds 257,767 71,298 271,473 104,631 329,065 376,104 11
REVELATION COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY2024 Support Costs allocated to aetivltles 2024 2023 staff costs Depreciation Premises (incl utilitles) Insurancè Office costs Communlcatlons SubsuiplSons and licenses Bookkeeping Governance coyts 3,866 61,328 28.794 7,689 3.607 5,662 3,133 9,360 5,265 5,182 71,193 26,193 6.460 5,008 1.548 3,695 10,440 3,803 128,702 133,522 se Church 128,702 133,522 Net movement In fund• 2024 2023 The net movement In fvnds is Stated after chargingl{credlting>'. Depreciation of owned tanglble fixed assets 61,326 71.193 TN8t•o• None of the truslees, or 8ny persons connected with them, recelved any remuneratlon or benefits from the charlty during the year. The trustees, and per50n8 connected to them, made donations totallng £53,75012023'. £41,878) during the year. 10 Employ••$ The average monthly number of employees during the year was: 2024 Nurnber 2023 Number 12
REVELATION COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 10 Employees (Contlnuedl Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 102,732 2,658 10,075 148,072 5,938 13.271 115,465 167,281 There were no employees whose annual remuneration was More than £60,000. Remuneratlon of koy management porgonnel The remuneratlon of key management personnel was as follows: 2024 2023 Aggregate compensation 42,188 32,986 11 Taxotlon The charity is exempt from lax on Incorne and gains falllng within section 505 of the Taxes Act 1988 or sectlon 252 of the Taxation of Chargeable Galns Act 1992 to the extent that these are applled to its charitable object8, 12 Tanglble fixed •8*ets Lv8•hold Flxture• and land and flttlng• bulldlng• oine• and •ctlvltl•s •qulpm•nt Totsl Cost At 1 March 2023 Additions 555,381 24,483 105,789 5,837 685,653 5,837 At 29 February 2024 555,381 24,483 111,826 691,490 Depreclatlon and Impalrniont At 1 March 2023 Depreciation charged in the year 217,166 55,538 17,199 4,218 99,559 1,570 333,924 61.326 At 29 February 2024 272,704 21,417 101,129 395,250 Carrylng amount At 29 February 2024 282,677 3.066 10,497 296,240 Al 28 February 2023 338,215 7,284 6,231 351,730 13-
REVELATION COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY2024 13 Debtors 2024 2023 Amounts falllng due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 1,330 2,801 9,905 4.034 4.958 6,576 14,036 15,568 14 Creditors: amounts falllng due wlthln one year 2024 2023 other taxalion and Social security Trade credltors Other creditors Accruals and daferred Income 1,758 517 3,603 4,184 1,482 263 3,671 4,604 10,082 10,020 15 Rotlrefflent beneflt Jch•m•• 2024 2023 Deflned contrlbutlon schemes Charge to profit or loss in respect of defined contrfbutlon schemes 10,075 13,271 The charfty operates a defined contribution penslon scheme for all quallfylng employees, The assets of the scheme are held separately from thosè of the chaty in an independently admlnlstered fund. 16 R88trfcted funds The restricted funds of the charlty comprise the unexpended balances of donations and grants held on trust subject to specific conditlons by donors as to how they may be used. At 1 March 2023 Incornlng resources Rèsources At29 expended Fobruary 2024 Building fund capitallsed Roots Assemblles Blessings Bell Tower Love Chichester Fund Benefact Trust Chichester Food Fund 338,215 1,561 1,387 (55,538> (1,561) {5,649) 1265) 12,763) 13,522) 12,000) 282,677 6,628 265 2,366 2,763 4.300 2,000 778 343,926 13,193 171,298) 285,821 14-
REVELATION COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 16 Restricted funds (Continued) Prevlous year: At 1 March 2022 Incomlng resources Resources A128 expended February 2023 Building fund capitalised Roots Assemblles Further Education Blessings Bell Tower Love Chlche8ter Fund 393,753 3,105 650 4,148 (55,538) {1,544) 1850) 14,502) 135,160) 17,23n 338,215 1,561 1,741 35,160 10,000 1,387 2,763 401,656 48,901 1104,6311 343,928 uildln Hornet. thls fund repTe$ents the amortlsed value of adaptlng and remodelling 104 The Roots A charity. emb grants were awarded to fund a dlgltal schools 868emblles prolect being developed by the Blessin s - a general purpose restricted fund set up to support Individuals and families in Deed. Church members are invited to give directly to Ihls lund. ell Tower - 8 fund set up for services provided to the Chichester Clty Centre Drop-ln and the related expenditure asslgned to those services provided. ove Chicheste Fu d A Natlonal Lottery Grant was awarded to provide fundlng for a wlde range of community projects focused on provldlng support for those living In financlal and social poverty enefac Trust - To support In runnlng the Life Skills Course, Make Lunch club and New Grounds community lunch. These are all projects that help to meet the needs of the local ¢ommunlty by supportlng those In relational and food poverty Chich sler Food Fund - To support the Tunning of the Make Lunch club. The Make Lunch club ran in school holidays and provided food for families that would usually benefit from free cooked school meals. a fund set up to cover the anticlpated further education cost5 of a former employee. Fu er educatio 17 Unrestrlcted funds The unreslricted funds of the charlty comprise the unexpended balances of donations and grants whlch are not sublect to specific condilions 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. At 1 March 2023 Incoming resources Resources At29 expendedFebruary 2024 General funds 99,735 269.343 1257,767) 111,311 15
REVELATION COMMUNITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY2024 17 Unrostrlcted fund8 (Contlnuad) Prevlous year: At 1 March 2022 Incoming resources Resources At28 expended February 2023 General funds 150,260 220,948 1271,473) 99.735 18 Analysls of net asset8 between lunds Unrèstrlcted lunds 2024 Restrlctèd funds 2024 Total 2024 At 29 February 2024: Tanglble as5et5 Current assetsllli8bilitiesl 13,563 97,748 282,677 3,144 296.240 100,892 111,311 285,821 397,132 Unrostrlcted funds 2023 Restrlcted funds 2023 Total 2023 At 28 February 2023: Tangible assets Current assetsllliabilitlesl 13,515 86,220 338,215 5,711 351,730 91,931 99,735 343,926 443,661 19 Related party trangactlon• The were no disdosable related paty transactlons durlng the year (2023- none). 16-