| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Summary Income and Expenditure Account | 10 |
| Balance Sheet | 11 |
| Statement of Cash flows | 12 |
| Notes to the Accounts | 13 to 21 |
| Detailed Statement of Financial Activities | 22 to 24 |
| Unrestricted | ||||
|---|---|---|---|---|
| funds | Total funds | Total funds | ||
| 2024 | 2024 | 2023 | ||
| Notes | £ | £ | £ | |
| Income and endowments | ||||
| from: | ||||
| Donations and legacies | 4 | 251,235 | 251,235 | 176,939 |
| Investments | 5 | 8 | 8 | 8 |
| Other | 6 | 46,302 | 46,302 | 63,058 |
| Total | 297,545 | 297,545 | 240,005 | |
| Expenditure on: | ||||
| Raising funds | 7 | 37,800 | 37,800 | 34,053 |
| Charitable activities | 8 | 21,986 | 21,986 | 27,626 |
| Other | 10 | 181,995 | 181,995 | 159,210 |
| Total | 241,781 | 241,781 | 220,889 | |
| Net gains on investments | ||||
| Net income | 11 | 55,764 | 55,764 | 19,116 |
| Transfers between funds | ||||
| Net income before other gains/(losses) |
55,764 | 55,764 | 19,116 | |
| Other gains and losses | ||||
| Net movement in funds | 55,764 | 55,764 | 19,116 | |
| Reconciliation of funds: | ||||
| Total funds brought forward | 1,098,237 | 1,098,237 | 1,079,121 | |
| Total funds carried forward | 1,154,001 | 1,154,001 | 1,098,237 |
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income | 297,537 | 239,997 |
| Interest and investment income | 8 | 8 |
| Gross income for the year | 297,545 | 240,005 |
| Expenditure | 193,448 | 190,883 |
| Interest payable | 43,109 | 24,782 |
| Depreciation and charges for | ||
| impairment of fixed assets | 5,224 | 5,224 |
| Total expenditure for the year | 241,781 | 220,889 |
| Net income before tax for the year | 55,764 | 19,116 |
| Net income for the year | 55,764 | 19,116 |
| Revival Christian Church Of Enfield Balance Sheet at 31 March 2024 |
|||
|---|---|---|---|
| Company No. 07182472 |
Notes | 2024 | 2023 |
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 13 | 1,509,290 | 1,514,514 |
| 1,509,290 | 1,514,514 | ||
| Current assets | |||
| Debtors | 14 | 4,450 | 1,700 |
| Cash at bank and in hand | 11,881 | 1,337 | |
| 16,331 | 3,037 | ||
| Creditors: Amount falling due within one year | 15 | (1,850) | (12,538) |
| Net current assets/(liabilities) | 14,481 | (9,501) | |
| Total assets less current liabilities | 1,523,771 | 1,505,013 | |
| Creditors: Amounts falling due after more than one year | 16 | (369,770) | (406,776) |
| Net assets excluding pension asset or liability | 1,154,001 | 1,098,237 | |
| Total net assets | 1,154,001 | 1,098,237 | |
| The funds of the charity | |||
| Restricted funds | 17 | ||
| Unrestricted funds | 17 | ||
| General funds | 1,057,172 | 1,001,408 | |
| 1,057,172 | 1,001,408 | ||
| Reserves | 17 | ||
| Revaluation reserve | 96,829 | 96,829 | |
| 96,829 | 96,829 | ||
| Total funds | 1,154,001 | 1,098,237 |
| Revival Christian Church Of Enfield Statement of Cash flows for the year ended 31 March 2024 |
||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Cash flows from operating activities | ||
| Net income per Statement of Financial Activities | 55,764 | 19,116 |
| Adjustments for: | ||
| Depreciation of property, plant and equipment | 5,224 | 5,224 |
| Dividends, interest and rents from investments | (46,310) | (63,066) |
| Increase in trade and other receivables | (2,750) | - |
| (Decrease)/Increase in trade and other payables | (965) | 2,815 |
| Net cash provided by/(used in) operating activities | 10,963 | (35,911) |
| Cash flows from investing activities | ||
| Dividends, interest and rents from investments | 46,310 | 63,066 |
| Net cash from investing activities | 46,310 | 63,066 |
| Cash flows from financing activities | ||
| Repayment of borrowings | (37,006) | (62,949) |
| Net cash used in financing activities | (37,006) | (62,949) |
| Net increase/(decrease) in cash and cash equivalents | 20,267 | (35,794) |
| Cash and cash equivalents at the beginning of the year | (8,386) | 27,408 |
| Cash and cash equivalents at the end of the year | 11,881 | (8,386) |
| Components of cash and cash equivalents | ||
| Cash and bank balances | 11,881 | 1,337 |
| Bank overdrafts | (9,723) | |
| 11,881 | (8,386) |
| Donations and | Voluntary income received by way of grants, donations and gifts is included in the |
|---|---|
| legacies | the SoFA when receivable and only when the Charity has unconditional |
| entitlement to the income.. | |
| Tax reclaims on | Income from tax reclaims is included in the SoFA at the same time as th:e |
| donations and gifts | gift/donation to which it relates. |
| Donated services | These are only included in income (with an equivalent amount in expenditure) |
| and facilities | where the benefit to the Charity is reasonably quantifiable, measurable and |
| material. | |
| Volunteer help | The value of any volunteer help received is not included in the accounts. |
| Investment income | This is included in the accounts when receivable. |
| Gains/(losses) on | This includes any gain or loss resulting from revaluing investments to market value |
| revaluation of fixed | at the end of the year. |
| assets | |
| Gains/(losses) on | This includes any gain or loss on the sale of investments. |
| investment assets |
| 3 Statement of Financial Activities - prior year |
||
|---|---|---|
| Unrestricted | ||
| funds | Total funds | |
| 2023 | 2023 | |
| £ | £ | |
| Income and endowments from: | ||
| Donations and legacies | 176r939 | 176,939 |
| Investments | 8 | 8 |
| Other | 63,058 | 63,058 |
| Total | 240,005 | 240,005 |
| Expenditure on: | ||
| Raising funds | 34,053 | 34,053 |
| Charitable activities | 27,626 | 27,626 |
| Other | 159,210 | 159,210 |
| Total | 220,889 | 220,889 |
| Net income | 19,116 | 19,116 |
| Net income before other gains! (losses) |
19116 | 19,116 |
| Other gains and losses: | ||
| Net movement in funds | 19,116 | 19,116 |
| Reconciliation of funds: | ||
| Total funds brought forward | 1,079,121 | 1,079,121 |
| Total funds carried forward | 1,098,237 | 1,098,237 |
| come from donations and legacies | |
|---|---|
| Unrestricted Total Total |
|
| 2024 2023 |
|
| £££ | |
| Offerings and tithes | 72,845 72,845 53,505 |
| Building fund | 178,390 178,390 123,434 |
| 251,235 251,235 176,939 |
|
| Income from investments | |
| Unrestricted Total Total |
|
| 2024 2023 |
|
| £ ££ |
|
| Interest received | 8 88 |
| 8 88 |
| Revival Christian Church Of Enfield Notes to the Accounts 6 Other income |
|
|---|---|
| Unrestricted Total Total |
|
| 2024 2023 |
|
| £££ | |
| Gift aid received | 36,310 36,310 33,058 |
| Grant | 9,992 9,992 30,000 |
| 46,302 46,302 63,058 |
|
| 7 Expenditure on raising funds |
|
| Unrestricted Total Total |
|
| 2024 2023 |
|
| £ ££ |
|
| Costs of generating voluntary | |
| income | |
| Event | 12,762 12,762 12,255 |
| RCCG WEM | 1,700 1,700 2,400 |
| Honourarium | 13,348 13,348 12,998 |
| Worship expenses | 9,990 9,990 5,950 |
| Fundraising trading costs | |
| Books | 450 |
| 37,800 37,800 34,053 |
|
| 8 Expenditure on charitable activities |
|
| Unrestricted Total Total |
|
| 2024 2023 |
|
| £ ££ |
|
| Expenditure on charitable | |
| activities | |
| Illumination fund raising | 7,510 7510 16,700 |
| Youth expenses | 2,279 2,279 |
| Other charitable activities income |
11,657 11,657 10,326 |
| N Flame | 540 540 600 |
| Governance costs | |
| 21,986 21,986 27,626 |
| Revival Christian Church Of Enfield Notes to the Accounts 9 Analysis of grants |
|||
|---|---|---|---|
| Grants to | |||
| Activity or programme | Individuals | Total | Total |
| 2024 | 2023 | ||
| £ | £ | £ | |
| Covid-19 Health talk | 9,992 | 9,992 | 30,000 |
| 9,992 | 9,992 | 30,000 | |
| Grant | |||
| funding of | |||
| Activity or programme | activities | Total | Total |
| 2024 | 2023 | ||
| £ | £ | £ | |
| Covd-19 Health talk | 9,992 | 9,992 | 30,000 |
| 9,992 | 9,992 | 30,000 | |
| 10 Other expenditure | |||
| Unrestricted | Total | Total | |
| 2024 | 2023 | ||
| £ | £ | £ | |
| Bank loan and overdraft interest payable |
42,320 | 42,320 | 24,782 |
| Other interest payable | 789 | 789 | |
| Employee costs | 78,851 | 78,851 | 72,367 |
| Motor and travel costs | 11,185 | 11,185 | 6,934 |
| Premises costs | 25,390 | 25,390 | 22,991 |
| Amortisation, depreciation, | |||
| impairment, profit/loss on | 5,224 | 5,224 | 5,224 |
| disposal of fixed assets | |||
| General administrative costs | 17,486 | 17,486 | 24,358 |
| Legal and professional costs | 750 | 750 | 2,554 |
| 181,995 | 181,995 | 159,210 | |
| 11 Net income before transfers |
|||
| 2024 | 2023 | ||
| This is stated after charging: | £ | £ | |
| Depreciation of owned fixed assets | 5,224 | 5,224 |
| Revival Christian Church Of Enfield | ||||
|---|---|---|---|---|
| Notes to the Accounts | ||||
| 12 Staff costs | ||||
| 2024 | 2023 | |||
| Salaries and wages | 72,364 | 62,343 | ||
| Pension costs | 473 | 473 | ||
| 72,837 | 62,816 | |||
| No employee received emoluments in excess of 160,000. | ||||
| The average monthly number of full time equivalent employees | during the year | was as follows: | ||
| 2024 | 2023 | |||
| Number | Number | |||
| Pastoral | 2 | 2 | ||
| Administrative | 2 | 2 | ||
| Others | 2 | 2 | ||
| 6 | 6 | |||
| 13 Tangible fixed assets | ||||
| Fixture, | ||||
| Land and buildings |
Motor Vehicle |
fittings and computer |
Total | |
| equipments | ||||
| £ | £ | £ | £ | |
| Cost or revaluation | ||||
| At 1 April 2023 | 1,500,000 | 10,699 | 54,158 | 1,564,857 |
| At 31 March 2024 | 1,500,000 | 10,699 | 54,158 | 1,564,857 |
| Depreciation and | ||||
| impairment | ||||
| At 1 April 2023 | 10,698 | 39,645 | 50,343 | |
| Depreciation charge for the | 5,224 | 5,224 | ||
| year | ||||
| At 31 March 2024 | 10,698 | 44,869 | 55,567 | |
| Net book values | ||||
| At 31 March 2024 | 1,500,000 | 1 | 9,289 | 1,509,290 |
| At 31 March 2023 | 1,500,000 | 1 | 14,513 | 1,514,514 |
| 14 Debtors | ||||
| 2024 | 2023 | |||
| £ | E. | |||
| Other debtors | 4,450 | 1,700 | ||
| 4,450 | 1,700 | |||
| 15 Creditors: |
||||
| amounts falling due within one year | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Bank loans and overdrafts | 9,723 | |||
| Other taxes and social security | 951 | 2,815 | ||
| Other creditors | 899 | |||
| 1,850 | 12,538 |
| 16 | Creditors: |
||||
|---|---|---|---|---|---|
| amounts falling due after more than one year | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Bank loans and overdrafts | 369,770 | 211,547 | |||
| Other loans | 195,229 | ||||
| 369,770 | 406,776 | ||||
| 17 | Movement in funds | ||||
| Incoming | |||||
| At 1 April | resources (including other gains/losses |
Resources expended |
At 31 March 2024 |
||
| 2023 | |||||
| £ | £ | £ | |||
| Restricted funds: | |||||
| Unrestricted funds: | |||||
| General funds | 1,001,408 | 297,545 | (241,781) | 1,057,172 | |
| Revaluation Reserves: | |||||
| Revaluation fund | 96,829 | 96,829 | |||
| Total revaluation reserves | 96,829 | 96,829 | |||
| Total funds | 1,098,237 | 297,545 | (241,781) | 1,154,001 |
| Analysis of net assets between funds | |||
|---|---|---|---|
| Unrestricted funds |
Restricted funds |
Total | |
| £ | £ | £ | |
| Fixed assets | 1,509,290 | 1,509,290 | |
| Net current assets | 14,481 | 14,481 | |
| Creditors due in more than one year and provisions |
(369,770) | (369,770) | |
| 1,523,771 | (369,770) | 1,154,001 |
| 19 | Reconciliation of net debt | |||
|---|---|---|---|---|
| At 31 | ||||
| At 1 April | March | |||
| 2023 | Cash flows | 2024 | ||
| £ | £ | £ | ||
| Cash and cash equivalents | 1,337 | 10,544 | 11,881 | |
| Bank overdrafts | (9,723) | 9,723 | ||
| (8,386) | 20,267 | 11,881 | ||
| Borrowings | (195,229) | 195,229 | ||
| Bank loans | (211,547) | (158,223) | (369,770) | |
| (406,776) | 37,006 | (369,770) | ||
| Net debt | (415,162) | 57,273 | (357,889) | |
| 20 | Commitments | |||
| Operating lease commitments | ||||
| Annual commitments under non-cancellable operating leases are as follows: | ||||
| 2024 | 2024 | 2023 | 2023 | |
| Land and buildings |
Other | Land and buildings |
Other | |
| Operating leases with expiry date: | ||||
| Pension commitments | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| The pension cost charge to the company | ||||
| amounted to: | 473 | 473 | ||
| 21 | Related party disclosures | |||
| Controlling party |
| Revival Christian Church Of Enfield Detailed Statement of Financial Activities for the year ended 31 March 2024 |
|||
|---|---|---|---|
| Unrestricted | |||
| funds | Total funds | Total funds | |
| 2024 | 2024 | 2023 | |
| Income and endowments from: | |||
| Donations and legacies | |||
| Offerings and tithes | 72,845 | 72,845 | 53,505 |
| Building fund | 178,390 | 178,390 | 123,434 |
| 251,235 | 251,235 | 176,939 | |
| Investments | |||
| Interest received | 8 | 8 | 8 |
| 8 | 8 | 8 | |
| Other | |||
| Gift aid received | 36,310 | 36,310 | 33,058 |
| Grant | 9,992 | 9,992 | 30,000 |
| 46,302 | 46,302 | 63,058 | |
| Total income and endowments | 297,545 | 297,545 | 240,005 |
| Expenditure on: | |||
| Costs of generating donations and | |||
| legacies | |||
| Event | 12,762 | 12,762 | 12,255 |
| RCCG WEM | 1,700 | 1,700 | 2,400 |
| Honourarium | 13,348 | 13,348 | 12,998 |
| Worship expenses | 9,990 | 9,990 | 5,950 |
| 37,800 | 37,800 | 33,603 | |
| Costs of other trading activities | |||
| Books | 450 | ||
| - | 450 | ||
| Total of expenditure on raising funds |
37,800 | 37,800 | 34,053 |
| Charitable activities | |||
| Illumination fund raising | 7,510 | 7,510 | 16,700 |
| Youth expenses | 2,279 | 2,279 | |
| Other charitable activities income | 11,657 | 11,657 | 10,326 |
| NFlame | 540 | 540 | 600 |
| 21,986 | 21,986 | 27,626 | |
| Total of expenditure on charitable activities |
21,986 | 21,986 | 27,626 |
| Other expenditure | |||
| Bank loan and overdraft interest payable |
42,320 | 42,320 | 24,782 |
| Other interest payable | 789 | 789 |
| evival Christian Church Of Enfield etailed Statement of Financial Activities |
|||
|---|---|---|---|
| 43,109 | 43,109 | 24,782 | |
| Employee costs | |||
| Salaries/wages | 72,364 | 72,364 | 62,343 |
| Pension costs | 473 | 473 | 473 |
| Staff entertainment | 1,356 | 1,356 | |
| Staff training | 1,770 | 1,770 | 256 |
| Staff welfare | 2,888 | 2,888 | 9,295 |
| 78,851 | 78,851 | 72,367 | |
| Motor and travel costs | |||
| Vehicles-Fuel | 9,717 | 9,717 | 4,596 |
| Vehicles-Insurance and licences | 933 | 933 | 1,615 |
| Vehicles-Repairs and maintenance |
535 | 535 | 450 |
| Travel and subsistence | 273 | ||
| 11,185 | 11,185 | 6,934 | |
| Premises costs | |||
| Rates | 2,421 | 2,421 | 295 |
| Light, heat and power | 11,252 | 11,252 | 14,614 |
| Premises cleaning | 848 | 848 | 1,730 |
| Premises insurances | 4,500 | 4,500 | 4,051 |
| Premises repairs and maintenance |
6,369 | 6,369 | 2,301 |
| 25,390 | 25,390 | 22,991 | |
| General administrative costs, | |||
| including depreciation and | |||
| amortisation | |||
| Depreciation of Motor Vehicle | |||
| Depreciation of Fixture, fittings and computer equipments |
5,224 | 5,224 | 5,224 |
| Bank charges | 3,370 | 3,370 | 4,245 |
| Equipment expensed | 307 | ||
| Equipment repairs and | 828 | ||
| maintenance | |||
| General insurances | 2,218 | ||
| Information and publications | 420 | ||
| Software, IT support and related costs |
2,710 | 2,710 | 5,729 |
| Stationery and printing | 3,684 | 3,684 | 968 |
| Subscriptions | 30 | 30 | 1,880 |
| Sundry expenses | 463 | 463 | 733 |
| Telephone, fax and broadband | 7,229 | 7,229 | 7,030 |
| 22,710 | 22,710 | 29,582 | |
| Legal and professional costs | |||
| Management charges | 1,354 | ||
| Other legal and professional costs |
750 | 750 | 1,200 |
| 750 | 750 | 2,554 |
| Revival Christian Church Of Enfield Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Total of expenditure of other costs | 181,995 | 181,995 | 159,210 |
| Total expenditure | 241,781 | 241,781 | 220,889 |
| Net gains on investments | |||
| Net income | 55,764 | 55,764 | 19,116 |
| Net income before other gains/(losses) |
55,764 | 55,764 | 19,116 |
| Other Gains | |||
| Net movement in funds | 55,764 | 55,764 | 19,116 |
| Reconciliation of funds: | |||
| Total funds brought forward | 1,098,237 | 1,098,237 | 1,079,121 |
| Total funds carried forward | 1,154,001 | 1,154,001 | 1,098,237 |