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2024-03-31-accounts

REGISTERED COMPANY NUMBER: 07566472 (England and Wales) REGISTERED CHARITY NUMBER: 1141885

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

REVIVE CHURCH

REVIVE CHURCH

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 16

REVIVE CHURCH (REGISTERED NUMBER: 07566472)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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

Objectives and aims

The objects of Revive Church are for the benefit of the public. They are as follows:

A) To advance the Christian faith in accordance with the statement in such ways and in such parts of the United Kingdom or the world as the directors/trustees from time to time may think fit.

B) 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 such parts of the United Kingdom or the world as the directors/trustees from time to time think fit ; and

C) To advance education in such ways and in such parts of the United Kingdom or the world as the Directors from time to time may think fit.

Volunteers

We have a reduced volunteer capacity post pandemic and the split of the Hull campus. Church membership is approximately 200 with around 50 normally active volunteers across 2 main campuses:

At an average level, these individuals will typically contribute about 2-4 hours per week.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the spring / summer period of 2023, Revive Church Hull went through a split of the congregation which was a difficult period for all concerned. At the time of writing, this is now seen through a more positive lens in which two new local Churches are now in operation and the Revive Hull congregation stabilised and has returned to growth. Some one-off expense items are highlighted in the accounts and these reflect the financially supported departures of some staff along with 'gifting' of equipment and the like. Revive Goole was unaffected by this and has continued to have significant local impact and especially with regard to young people. For both locations gospel concerts, conferences, youth meetings and clubs, children's and family outreach, prayer events, social activities and the growth of the Kingswood community centre programmes al continue

The youth work to reach struggling teens in Goole has continued to grow, becoming widely recognised, and we continue to work in collaboration with partner organisations there to impact the community.

In September 2023 Revive successfully completed the acquisition of Let Loose Yorkshire Ltd which is a 4 acre Adventure Park and high ropes course along with several building including a 7,000ft geo-dome. This has given the Charity a wonderful public and young people outreach facility along with the buildings, offices, café etc to enable this to be Revive Hull's new permanent home. Let Loose Yorkshire Ltd is now a Revive wholly owned trading company.

We have referred to the guidance contained in the charities commission general guidance on public benefit and complied with section 17(5) of the 2011 charities act.

The trustees consider that the activities undertaken by Revive Church provide a public benefit to those who are members of the church and those in the wider community.

Page 1

REVIVE CHURCH (REGISTERED NUMBER: 07566472)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW

Financial position

We have maintained a monthly review of our finances throughout the pandemic with a monthly data set being issued to Jarrod Cooper and one other Trustee (currently Stewart McKinlay). The combined charitable giving from individuals in our largest congregation in Hull has remained strong throughout the period of the Hull Church split and is the core of the financial stability. We have been sensitive to the reduction in income (reduced events etc) alongside a now smaller congregation and have reduced our cost base. The one-off expenses associated with the split were a significant figure and if these are removed, then the ongoing financial strength continues to show through. The financial performance of Revive post this reporting period continues to show resilience and some growth as demonstrated in the monthly management accounts.

Reserves policy

We currently follow the principles as laid out by SORP and specifically the guidance from the Charity Finance Group.

Outside of periods of raising (or spending) funds for major projects we operate a cash reserves minimum policy of one month's salary expenditure which is approximately £25,000. The cash reserves upper limit is set at this lower figure plus 4 standard deviations which is approximately £115,000. Reserve levels outside of this band warrant debate and approval at a minuted Board meeting.

As previously reported, we acquired Let Loose in September 2023 and the ran a refurbishment capital project for the rest of the financial year and this expense is reflected in the accounts. The first and major phase of this investment was completed in the summer of 2024.

The total reserves held at the end of the year amount to £980,291 (2023: £1,027,142). The restricted funds not available for general purposes at the end of the year amount to £79,000 (2023: £483,733).

The total free reserves held at the end of the year were considered to be £180,510 (2023: £352,074).

There were also commitments for material expenditure at the end of the year in relation to Letloose of £132,222 which has not been reflected in the above.

FUTURE PLANS

The growth of the Goole campus and outreach activities will continue along with the new outreach opportunities afforded by the Let Loose dome and Adventure park. The large auditorium space has been acoustically and thermally insulated which opens up many opportunities for children work, social outreach and so on, it also supports and Adventure park for children and young adults. This will be operated as an ongoing business via a new trading Company wholly owned by Revive Church.

The Church future plans will now revolve around this centre as a focus for our community engagement and young people support and outreach. This now fulfils the goals as described in previous year reports of providing a new HQ and regional centre for the aims of the Charity and all at significantly lower cost than a new-build facility that was central to the pre-pandemic plans.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association

Recruitment and appointment of new trustees

The company may by ordinary resolution appoint a person who is willing to act as either to fill a vacancy or as an additional director/trustee, provided the appointment does not cause the number of directors/trustees to exceed any number fixed by or in accordance with the Articles as the maximum number of directors/trustees.

Induction and training of new trustees

In the event that a new director is appointed to the board it shall be the responsibility of the Chair of the Board Directors to ensure appropriate information and if necessary training is available to ensure the new appointee can discharge their duties in a competent manner.

Page 2

REVIVE CHURCH (REGISTERED NUMBER: 07566472)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Key management remuneration

We use two benchmark salary points from the AoG (associate minister and minister) and treat these as firm guides for our equivalent roles. The most important benchmark is the minister role which is recorded in Directors meeting minutes. Deviation from these benchmarks can be proposed for reasons such as experience level, sustained performance etc. but must be approved by the non-paid Directors. Other paid roles are then remunerated in relation to these two benchmark salaries.

General cost of living pay increases are guided by the Government official inflation figures.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Principal risks and uncertainties

At a statistical level we are long term financially very stable. We have had a sustained period of growth (prior to the split) over the last 12 years during which we averaged low double digit annual income growth. We financially managed the church split well and maintained a healthy financial performance once the one-off expense items are removed which demonstrates long term financial health. We have a mature leadership and Governance structure and as such, the ongoing charitable activities are deemed as low risk.

The principle risk item in front of the charity is acquisition and operation of the wholly owned Let Loose trading company. This is the major focus of every Board meeting and we have engaged with Adventure Park / High Ropes course experts to help lead us in this new season. The risk level associated with the previous plan of a new build on Kingswood would have been significantly higher than this much lower cost approach. Once all the improvements have been made to site, it is anticipated that we will be seeking a small loan / mortgage towards the end of the following financial year.

The main secondary risk looking forward and mitigating actions are as follows. For context, the Church split is well behind us and membership along with financial income has returned to growth (during 2023/24).

  1. Income growth is less than forecast. Rather than the historical growth, a four year period of no growth and has been modelled. Over this period the discretionary spend (further small projects) would be cut by 60% which would leave the charity with a small overall surplus.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07566472 (England and Wales)

Registered Charity number

1141885

Registered office

Kingswood House Ground Floor Ashcombe Road Hull HU7 3DD

Trustees

Rev. J. Cooper A. B. Akomolafe (appointed 26.9.23) S. McKinlay (appointed 25.6.23) A. Murray (resigned 30.4.23) C. Fleetcroft (resigned 30.4.23) Mrs. M. Carr (resigned 25.6.23) R. Pritchard (resigned 26.9.23) J. Seager (resigned 25.6.23)

D. Hooko

S. Green

Page 3

REVIVE CHURCH (REGISTERED NUMBER: 07566472)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

C. M. Tams FCA 12 Abbey Road GRIMSBY DN32 0HL

Bankers

Co-operative Bank plc P O Box 250 Skelmerdale WN8 6WT

Solicitors

Geldards LLP Number One Pride Place Pride Park Derby DE24 8QR

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Revive Church for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 3 February 2025 and signed on its behalf by:

S. McKinlay - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REVIVE CHURCH (REGISTERED NUMBER: 07566472)

Independent examiner's report to the trustees of Revive Church ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts 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

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

C. M. Tams FCA

12 Abbey Road GRIMSBY DN32 0HL

3 February 2025

Page 5

REVIVE CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 288,656 (5,880) 282,776 446,163
Charitable activities
Church 17,925 - 17,925 7,399
Other trading activities 2 3,970 - 3,970 2,433
Investment income 3 984 5,959 6,943 2,233
Total 311,535 79 311,614 458,228
EXPENDITURE ON
Charitable activities
Church 357,553 412 357,965 436,028
NET INCOME/(EXPENDITURE) (46,018) (333) (46,351) 22,200
Transfers between funds 14 404,400 (404,400) - -
Net movement in funds 358,382 (404,733) (46,351) 22,200
RECONCILIATION OF FUNDS
Total funds brought forward 543,409 483,733 1,027,142 1,004,942
TOTAL FUNDS CARRIED FORWARD 901,791 79,000 980,791 1,027,142
----- End of picture text -----

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 6

REVIVE CHURCH (REGISTERED NUMBER: 07566472)

BALANCE SHEET 31 MARCH 2024

----- Start of picture text -----
31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 187,204 - 187,204 191,335
Investments 10 1 - 1 -
-
187,205 187,205 191,335
CURRENT ASSETS
Debtors 11 561,025 - 561,025 21,250
Cash at bank and in hand 172,479 79,000 251,479 826,705
733,504 79,000 812,504 847,955
CREDITORS
Amounts falling due within one year 12 (18,918) - (18,918) (12,148)
NET CURRENT ASSETS 714,586 79,000 793,586 835,807
TOTAL ASSETS LESS CURRENT LIABILITIES 901,791 79,000 980,791 1,027,142
NET ASSETS 901,791 79,000 980,791 1,027,142
FUNDS 14
Unrestricted funds 901,791 543,409
Restricted funds 79,000 483,733
TOTAL FUNDS 980,791 1,027,142
----- End of picture text -----

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 3 February 2025 and were signed on its behalf by:

S. McKinlay - Trustee

The notes form part of these financial statements

Page 7

REVIVE CHURCH

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

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The charity has departed from the Charities SORP and FRS 102 in order to depreciate all freehold property at a rate of 2% on a straight line basis.

The treatment required by the Charities SORP and FRS 102 where an asset comprises of two or more major components is that each component should be depreciated separately over its useful life and that the value of land is not depreciated.

The trustees consider that depreciating all freehold property at a rate of 2% on a straight line basis reflects the value of the asset for the charity, and have concluded that the accounts present a true and fair view.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income is deferred only when the charity has to fulfil conditions before it becomes entitled to it.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% Straight Line Fixtures and fittings - 20% Straight Line

Capitalisation Policy - only Fixed Assets costing in excess of £500 are capitalised.

Freehold property includes £80,000 for land costs, the land is not depreciated.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Page 8

REVIVE CHURCH

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

1. ACCOUNTING POLICIES - continued

Fund accounting

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. OTHER TRADING ACTIVITIES

2.
OTHER TRADING ACTIVITIES
Other income 31.3.24
31.3.23
£
£
3,970
2,433
3.
INVESTMENT INCOME
Deposit account interest		 31.3.24
31.3.23
£
£
6,943
2,233
4.
GRANTS PAYABLE
Church		 31.3.24
31.3.23
£
£
33,383
35,776
The total grants paid to institutions during the year was as follows:
Oasis of Hope
CiC (Churches in Communities)
Heart for Honduras
Karis House
Mission 24
Eternal Benefit
Heart Cry for Change
Kings Church Beverley
MAD-Aid
New Life Support
Other Institutions		 31.3.24
31.3.23
£
£
2,400
2,400
1,440
1,940
700
840
1,200
1,200
1,800
3,300
-
1,000
-
300
-
1,000
-
6,000
12,174
-
2,260
2,636
21,974
20,616
The total grants paid to individuals during the year was as follows:
D Taylor
D&M Cooper
R M Young
A Charis
Other Individuals		 31.3.24
31.3.23
£
£
2,800
1,800
6,000
6,000
600
600
-
750
2,009
6,010
11,409
15,160

Page 9

REVIVE CHURCH

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

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Independent examination fee
Other accountancy services
Depreciation - owned assets
Deficit on disposal of fixed assets
TRUSTEES' REMUNERATION AND BENEFITS		 31.3.24
£
4,080
960
5,331
-		 31.3.23
£
4,080
720
6,324
974
Trustees' salaries
Trustees' redundancy costs
Trustees' social security
Trustees' pensions paid		 31.3.24
£
77,189
-
4,638
1,869
83,696		 31.3.23
£
104,704
21,260
9,344
2,662
137,970

6. TRUSTEES' REMUNERATION AND BENEFITS

The charity's memorandum and articles of association allowing remuneration to be paid to trustees are approved by the charity commission. The following remuneration was paid to the following trustees during the year:

----- Start of picture text -----
Trustee Trustee
Trustee Social Pension Total
Salary Security Contribution 31.3.2024
£ £ £ £
J. Cooper 50,468 3,573 1,285 55,326
A. Murray 2,647 - 64 2,711
C. Fleetcroft 2,647 - 64 2,711
S. Green 21,427 1,065 456 22,948
Total 31.3.2024 77,189 4,638 1,869 83,696
Total 31.3.2023 125,964 9,344 2,662 137,970
----- End of picture text -----

During the trusteeship of R. Pritchard a salary of £9,408 was paid to his spouse L. Pritchard.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

7. STAFF COSTS

STAFF COSTS
31.3.24 31.3.23
Wages and salaries
Social security costs
Redundancy costs
Other pension costs		 £
141,332
8,366
41,092
1,325
192,115		 £
226,955
16,565
18,019
2,208
263,747

Page 10

REVIVE CHURCH

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

7. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

Church

----- Start of picture text -----
||| |---|---| |31.3.24|31.3.23| |6|7|

----- End of picture text -----

No employees received emoluments in excess of £60,000.

Total paid to key management during the year amounted to £89,819 (2023 - £159,315)

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

----- Start of picture text -----
||||| |---|---|---|---| |Unrestricted|Restricted|Total| |funds|funds|funds| |£|£|£| |INCOME AND ENDOWMENTS FROM| |Donations and legacies|428,712|17,451|446,163| |Charitable activities| |Church|7,399|-|7,399| |-| |Other trading activities|2,433|2,433| |Investment income|250|1,983|2,233| |Total|438,794|19,434|458,228| |EXPENDITURE ON| |Charitable activities| |Church|422,719|13,309|436,028| |NET INCOME|16,075|6,125|22,200| |RECONCILIATION OF FUNDS| |Total funds brought forward|527,334|477,608|1,004,942| |TOTAL FUNDS CARRIED FORWARD|543,409|483,733|1,027,142|

----- End of picture text -----

Page 11

REVIVE CHURCH

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

9. TANGIBLE FIXED ASSETS

COST
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
10.
FIXED ASSET INVESTMENTS
MARKET VALUE
Additions
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 Freehold
property
£
205,458
-
205,458
20,456
2,500
22,956
182,502
185,002		 Fixtures
and
fittings
Totals
£
£
21,924
227,382
1,200
1,200
23,124
228,582
15,591
36,047
2,831
5,331
18,422
41,378
4,702
187,204
6,333
191,335
Shares in
group
undertakings
£
1
1
-

There were no investment assets outside the UK.

The fixed asset investment is in Let Loose Yorkshire Limited, a trading subsidiary whose share is held by Revive Church.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors		 31.3.24
£
1,000
560,025
561,025		 31.3.23
£
-
21,250
21,250

Page 12

REVIVE CHURCH

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

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Other creditors
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
MOVEMENT IN FUNDS
Net
movement
At 1.4.23
in funds
£
£
Unrestricted funds
General fund
543,409
(46,018)
Restricted funds
Building project improvements
483,733
(333)
TOTAL FUNDS
1,027,142
(46,351)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
311,535
Restricted funds
Building project improvements
(221)
Other
300
79
TOTAL FUNDS
311,614		 31.3.24
£
10,490
2,860
5,568
18,918
31.3.24
£
-
Transfers
between
funds
£
404,400
(404,400)
-
Resources
expended
£
(357,553)
(112)
(300)
(412)
(357,965)		 31.3.23
£
3,050
4,407
4,691
12,148
31.3.23
£
4,230
At
31.3.24
£
901,791
79,000
980,791
Movement
in funds
£
(46,018)
(333)
-
(333)
(46,351)

13. LEASING AGREEMENTS

14. MOVEMENT IN FUNDS

Page 13

REVIVE CHURCH

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

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.22
£
Unrestricted funds
General fund
527,334
Restricted funds
Building project improvements
477,608
TOTAL FUNDS
1,004,942
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
438,794
Restricted funds
Building project improvements
15,516
Other
3,918
19,434
TOTAL FUNDS
458,228
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.4.22
in funds
£
£
Unrestricted funds
General fund
527,334
(29,943)
Restricted funds
Building project improvements
477,608
5,792
TOTAL FUNDS
1,004,942
(24,151)		 Net
movement
in funds
£
16,075
6,125
22,200
Resources
expended
£
(422,719)
(9,391)
(3,918)
(13,309)
(436,028)
Transfers
between
funds
£
404,400
(404,400)
-		 At
31.3.23
£
543,409
483,733
1,027,142
Movement
in funds
£
16,075
6,125
-
6,125
22,200
At
31.3.24
£
901,791
79,000
980,791

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REVIVE CHURCH

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

14. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Building project improvements
Other
TOTAL FUNDS		 Incoming
resources
£
750,329
15,295
4,218
19,513
769,842		 Resources
Movement
expended
in funds
£
£
(780,272)
(29,943)
(9,503)
5,792
(4,218)
-
(13,721)
5,792
(793,993)
(24,151)

The building fund was established for improvements to the premises at Bridlington Avenue, Hull and has now been used to fund the acquisiton of Hang Loose Ltd through Let Loose Yorkshire Limited. Amounts have been retained in this fund to the value that has been requested by donors to be returned.

Other restricted funds include small donations for specific projects or missions trips.

Transfers between funds

Transfers into the general fund of £404,400 (2023: £Nil) are in relation to expenditure loaned to the trading subsidiary Let Loose Yorkshire Limited to acquire the trade property and equipment of Hang Loose Ltd that has been funded by the building fund and therefore restrictions have been met.

15. EMPLOYEE BENEFIT OBLIGATIONS

The charity makes contributions for all of its employees into a defined contribution schemes. The amount charged to the Statement Of Financial Activities during the year was £3,194 (2023 - £4,870) and the amount payable at the balance sheet date was £545 (2023 - £825).

16. CAPITAL COMMITMENTS

Capital commitments at the year end were loans to be advanced to Let Loose Yorkshire in relation to final payments for the Dome. These total £132,222.

17. RELATED PARTY DISCLOSURES

Let Loose Yorkshire Limited (incorporated in England and Wales 18 September 2023) is a wholly owned subsidiary of Revive Church. The total amount due from Let Loose Yorkshire Limited at the balance sheet date was £525,529.

Donations made by Trustees to the charity during the year amounted to £24,351 (2023 - £50,296).

Payments totalling £4,658 (2023 - £8,582) were paid to Peanut designs business of Laura Murray, spouse of trustee Andrew Murray, for design and social media services during the year.

Payments totalling £2,691(2023 - £80) were paid to Victoria Cooper, spouse of Jarrod Cooper, for website costs.

An honorarium was paid to D&M Cooper the parents of Jarrod Cooper of £6,000 (2023 - £6,000)

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REVIVE CHURCH

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

18. POST BALANCE SHEET EVENTS

The original restricted funds giving was done in the context of a new build in Kingswood and as already outlined, that project was closed and the acquisition of Let Loose was pursued to create a similar result of a new Church HQ with a large main auditorium. This was widely communicated and a small number of people asked for the money that they had gifted to the original endeavour be returned (minus the proportion that had been spent on the design, planning etc). All of these are complete apart from one large set of donations totalling £79k and this is the matter of current focus by the charity to resolve this.

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