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Charity Registration No. 1157662
REIGN MINISTRIES
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
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REIGN MINISTRIES
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Ms B O'Brien Mr A Shoderu Dr A Stanhope Mr D Williams Ms C Heyward (Appointed 21 November 2020) Charity number 1157662 Principal address 43 London Road Bicester Oxon OX26 6BU Independent examiner Whitley Stimpson Limited Claremont House 1 Market Square Bicester Oxon OX26 6AA
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REIGN MINISTRIES
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6 - 15 |
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REIGN MINISTRIES
TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2021
The Trustees present their report and financial statements for the year ended 31 August 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity 's governing document, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Objectives and activities
To advance the Christian faith particularly but not exclusively amongst young people in Bicester and in such other parts of the United Kingdom or the words as the Trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the Trust.
Achievements and performance
Like most UK charities, the activities of this year were affected by the Covid-19 pandemic. In the 2020-2021 financial year we trained nearly 30 students in Theology, Mission and Youth Ministry. We have spent charity resources by coaching churches and lay volunteers to develop effective youth ministries through training courses and strategic church partnerships. The public has benefited in two ways this past year through the growth of the charity.
Firstly, we are now working with groups of teenagers in a wider range of communities across the UK, from each of the four nations. Our research indicates that, on a regular basis, we are in contact with approximately 3,000 young people. Secondly, by investing into a generation of young leaders we are also helping society to be more resilient and in a healthier place for the future as these leaders grow and expand their personal scope of influence.
Financial review
The business aspect to the charity has grown over the past year because we have been able to recruit enough students into the various programmes to make them viable. We have been working on improving our fundraising ability, as we envisaged, through staffing and financial management controls. We are working and developing our internal systems and structures to help us maintain this growth going forward.
The position of the charity is healthy financially. Staff-wise we have added some new team roles which has positioned us to grow in our effectiveness and scope in the coming year. This effectiveness also will hopefully lead to a greater number of people we are training, which has a positive knock on effect to our financial stability.
It is the policy of the charity that designated funds should be maintained at a level equivalent to three month's operating costs. At the moment our reserves are being held in a separate bank account and the purpose is to meet our reserves policy and secondly to provide flexibility as the charity plans for expansion in the future.
The trustees met online throughout the year and were able to conduct all their usual business without impediment.
Structure, governance and management
The charity was originally established in 2008 and became a Charitable Incorporated Organisation (CIO) from 1 July 2014.
The Trustees who served during the year and up to the date of signature of the financial statements were:
Mr D Wickens (Resigned 20 November 2021) Ms B O'Brien Mr A Shoderu Dr A Stanhope Mr D Williams Ms C Heyward (Appointed 21 November 2020)
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REIGN MINISTRIES
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
The board of trustees acts to promote the accomplishment of the ministry’s mission and prevent unacceptable activities and conditions within the ministry.
The board is made up of a Chairman, Vice Chairman, Secretary, Treasurer and Board Committees. The board members may serve for two successive three-year terms, after which he/she must take a one-year sabbatical before serving again. Background and criminal screening is carried out on all members before they serve.
They strive to have un-conflicting loyalty to the stakeholders, avoid conflict of interest with respect to their fiduciary responsibility, not attempt to exercise individual authority over the charity, respect confidentiality, prepare for and attend all meetings where possible, support all decisions made by the board as a group, avoid representing a particular personal or group interest and personally develop and evaluate the policies and their own skills.
So that the board are confident in controlling the charities performance, related training and outside monitoring may take place where necessary.
The Trustees r eport was approved by the Board of Trustees.
DocuSigned by: .............................. [DaviEC2E3519B61147F...Moville Williams Mr D Williams Trustee 18/5/2022 | 11:26 BST Dated: .........................
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REIGN MINISTRIES
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REIGN MINISTRIES
I report on the accounts of the charity for the year ended 31 August 2021, which are set out on pages 4 to 11 .
Respective responsibilities of Trustees and examiner
The charity’s Trustees are responsible for the preparation of the financial statements. The charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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(i) examine the financial statements under section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has no w been withdrawn.
I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(ii) to prepare accounts which accord with the accounting records, and comply with the accounting requirements of the 2011 Act have not been met;
or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
L Herbert - FCCA
Whitley Stimpson Limited Claremont House
1 Market Square Bicester Oxon OX26 6AA
20/5/2022 | 12:36 BST
Dated: .........................
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REIGN MINISTRIES
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income and endowments from: Donations and programme income 2 109,714 81,261 Investments 3 902 - Other income 4 36,028 - Total income 146,644 81,261 Expenditure on: Ministry programmes 5 81,956 15,747 Administration and governance 6 64,060 64,051 Total resources expended 146,016 79,798 Gross transfers between funds - - Net income/(expenditure) for the year/ Net movement in funds 628 1,463 Fund balances at 1 September 2020 505,363 114 Fund balances at 31 August 2021 505,991 1,577 |
TotalUnrestricted Restricted funds funds 2021 2020 2020 £ £ £ 190,975 189,797 49,851 902 1,298 - 36,028 5,311 - 227,905 196,406 49,851 97,703 127,349 2,825 128,111 94,281 43,894 225,814 221,630 46,719 - 3,018 (3,018) 2,091 (22,206) 114 505,477 527,569 - 507,568 505,363 114 |
Total 2020 £ 239,648 1,298 5,311 246,257 130,174 138,175 268,349 - (22,092) 527,569 505,477 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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REIGN MINISTRIES
BALANCE SHEET
AS AT 31 AUGUST 2021
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | £ | ||
| Fixed assets | |||||||
| Tangible assets | 9 | 377,040 | 374,638 | ||||
| Current assets | |||||||
| Debtors | 10 | 1,585 | 1,585 | 1,150 | |||
| Cash at bank and in hand | 135,208 | 135,208 | 137,205 | ||||
| 136,793 | 136,793 | 138,355 | |||||
| Creditors: amounts falling due within | |||||||
| one year | 11 | (6,265) | (7,516) | ||||
| Net current assets | 130,528 | 130,839 | |||||
| Total assets less current liabilities | 507,568 | 505,477 | |||||
| Income funds | |||||||
| Restricted funds | 13 | 1,577 | 114 | ||||
| Unrestricted funds | 505,991 | 505,363 | |||||
| 507,568 | 505,477 | ||||||
| The financial statements were approved by the Trustees on ......................... | The financial statements were approved by the Trustees on ......................... | The financial statements were approved by the Trustees on ......................... 18/5/2022 |
11:26 BST | The financial statements were approved by the Trustees on ......................... 18/5/2022 |
11:26 BST | The financial statements were approved by the Trustees on ......................... 18/5/2022 |
The financial statements were approved by the Trustees on ......................... DocuSigned by: .............................. [DaviEC2E3519B61147F...Moville Williams Mr D Williams
Trustee
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REIGN MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
1 Accounting policies
Company information
Reign Ministries is a Charitable Incorporated Organisation (CIO).
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts 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.
The charity has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
1.2 Going concern
A key risk to the future continued going concern of the charity are the risks and uncertainties as to the impact of the Covid-19 outbreak in the UK. At the time of approving the financial statements, the Trustees have assessed the impact of Covid-19 and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
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 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.
1.4 Incoming resources
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.
Income from grants is recognised when there is entitlement and all conditions for receipt have been met.
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REIGN MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
1 Accounting policies
(Continued)
1.5 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured net of depreciation .
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Land and buildings Not depreciated Fixtures, fittings & equipment 20% Reducing balance
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 net income/(expenditure) for the year.
1.6 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 ) .
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less .
1.8 Government Grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
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REIGN MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
2 Donations and programme income
| Unrestricted | Restricted | Total |
Total |
|
|---|---|---|---|---|
| funds | funds | 2021 |
2020 |
|
| £ | £ | £ |
£ |
|
| Degree income | 36,538 | - | 36,538 |
80,777 |
| Greenhouse/Internship Income | 1,856 | 5,186 | 7,042 |
10,160 |
| Moveolution income | 868 | - | 868 |
23,846 |
| Learning community | 1,149 | - | 1,149 |
200 |
| US Donors | 27,655 | 64,878 | 92,533 |
113,431 |
| Other revenue | 30,012 | - | 30,012 |
10,609 |
| Gift Aid reclaimed | 1,748 | - | 1,748 |
625 |
| Church partnership income | 9,000 | - | 9,000 |
- |
| Resource income | 888 | 11,197 | 12,085 |
- |
| 109,714 | 81,261 | 190,975 |
239,648 |
|
| For the year ended 31 August 2020 | 189,797 | 49,851 | 239,648 | |
| Investments | ||||
| Unrestricted | Unrestricted | |||
| funds | funds |
|||
| 2021 | 2020 |
|||
| £ | £ |
|||
| Interest receivable | 902 | 1,298 |
||
| Other income | ||||
| Unrestricted | Unrestricted | |||
| funds | funds |
|||
| 2021 | 2020 |
|||
| £ | £ |
|||
| Other income | 36,028 | 5,311 |
3 Investments
4 Other income
Other income represents Coronavirus Job Retention Scheme grants as disclosed in note 12 to the accounts.
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REIGN MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
5 Ministry programmes
| Unrestricted Restricted funds funds £ £ Costs of generating programme activity Degree Expenses 36,262 - Greenhouse/Internship Expenses 21,952 5,186 Moveolution Expenses 3,234 - Learning Community Expenses 3,644 - Church Partnership Expenses 16,864 Resource Expenses - 10,561 Costs of generating programme activity 81,956 15,747 |
Total 2021 £ 36,262 27,138 3,234 3,644 16,864 10,561 97,703 |
Total 2020 £ 56,289 49,749 24,100 36 - - 130,174 |
|---|---|---|
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REIGN MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
6 Administration and governance
| Staff costs Governance costs £ £ Staff wages & salaries 100,961 - Social security costs 4,399 - Pension costs 4,552 Rates - 2,338 Insurance - 1,140 Light and heat - 2,219 Repairs and maintenance - 2,069 Office and computer expenses - 1,133 Telephone and fax - 892 Conference expenses - 212 Logistics Trustee costs - - Advertising - 4,102 Travel and subsistence - 473 Legal & Professional - 363 Accountancy - 780 Depreciation - 770 Sundry expenses - 492 Gain/loss on disposal of tangible assets - 192 HR & team expenses 955 Bank charges - - 109,911 18,130 Analysis by fund Unrestricted funds 46,179 17,811 Restricted funds 63,732 319 109,911 18,130 For the year ended 31 August 2020 Unrestricted funds 70,561 23,643 Restricted funds 43,894 - 114,455 23,643 |
Finance costs £ - - - - - - - - - - - - - - - - - 70 70 70 - 70 77 - 77 |
Total 2021 £ 100,961 4,399 4,552 2,338 1,140 2,219 2,069 1,133 892 212 - 4,102 473 363 780 770 492 192 954 70 128,111 64,060 64,051 128,111 |
Total 2020 £ 110,831 - 3,621 2,773 816 1,968 984 2,046 1,277 3,263 172 - 1,724 782 832 191 6,818 - - 77 138,175 94,281 43,894 138,175 |
|---|---|---|---|
Governance costs includes payments to the accountants of £780 (2020: £780) for accounts production and independent examination fees.
7 Trustees
None of the trustees received any remuneration during the current or prior year.
During the year, no trustees received any reimbursement of expenses (2020: £n il).
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REIGN MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
8 Employees
Number of employees
The average monthly number of employees during the year was:
| Average number of employees Employment costs Wages and salaries Social security costs Other pension costs |
2021 Number 10 2021 £ 166,283 4,399 4,552 175,233 |
2020 Number 8 2020 £ 159,277 - 3,621 162,898 |
|---|---|---|
None of the employees received employee benefits (excluding employer pension costs) more than £60,000 during the year.
One of the employees Sam Williams employed by the Charity in the year is the son of a trustee Dave Williams. During the year the employee received a net salary of £9,552.
The Trustees delegate the day-to-day management of the charity to the senior management personnel. During the year, £24,000 was paid to key management personnel for management services.
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REIGN MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
| 9 Tangible fixed assets Land and buildings Fixtures, fittings & equipment £ £ Cost At 1 September 2020 373,875 2,482 Additions - 3,363 Disposals - (700) At 31 August 2021 373,875 5,145 Depreciation and impairment At 1 September 2020 - 1,718 Depreciation charged in the year - 770 Eliminated in respect of disposals - (508) At 31 August 2021 - 1,980 Carrying amount At 31 August 2021 373,875 3,165 At 31 August 2020 373,875 763 10 Debtors 2021 Amounts falling due within one year: £ Trade debtors 918 Prepayments and accrued income 667 1,585 11 Creditors: amounts falling due within one year 2021 Notes £ Deferred income 12 5,363 Other creditors 120 Accruals and deferred income 782 6,265 |
Total £ 376,357 3,363 (700) 379,020 1,718 770 (508) 1,980 377,040 374,638 2020 £ 1,150 - 1,150 2020 £ - 6,738 778 7,516 |
|---|---|
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REIGN MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
12 Grant income
The charity has taken advantage of the following government grants that were made available by the UK Government response to the global Covid-19 pandemic. During the year the following amounts have been received and are recognised within other operating income.
Coronavirus Job Retention Scheme (CJRS): £36,028 (2020: £5,311)
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REIGN MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
13 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|---|---|
| Incoming | Resources | Transfers | Balance at | Incoming | Resources | Balance at | |
| resources | expended | 1 September | resources | expended | 31 August | ||
| 2020 | 2021 | ||||||
| £ | £ | £ | £ | £ | £ | £ | |
| Resources | |||||||
| Project | 4,242 | (1,110) | (3,018) | 114 | 11,197 | (10,561) | 750 |
| Staff | |||||||
| Conference | - | - | - | - | 1,146 | (319) | 827 |
| Staff Support | |||||||
| - Employee A | 16,858 | (16,858) | - | - | 26,310 | (26,310) | - |
| Staff Support | |||||||
| - Employee B | 16,858 | (16,858) | - | - | 26,310 | (26,310) | - |
| Staff Support | |||||||
| - Employee C | 9,208 | (9,208) | - | - | 11,112 | (11,112) | - |
| Staff Support | |||||||
| - Employee D | 1,715 | (1,715) | - | - | 5,186 | (5,186) | - |
| Staff Support | |||||||
| - Employee E | 971 | (971) | - | - | - | - | - |
| 49,852 | (46,720) | (3,018) | 114 | 81,261 | (79,798) | 1,577 |
The Resources Project is partially funded by donations and relates to the ongoing Charity project to develop saleable resources i.e. tools for sale to youth workers such as videos and printed materials. Transfers out of this fund in the 2020 year reflect the reimbursement of the unrestricted fund start up costs for this project which were incurred in advance of the specific fundraising.
The Staff Conference restricted fund has arisen where the Charity has received donations towards an annual staff retreat and associated HR and team costs. There is a carried forward balance on this fund as not all of the donations were spent in the 2021 year due to the impact of Covid-19.
The Staff Support restricted funds arise where employees are partially self supported i.e. where the Charity agrees a fixed salary paid out of unrestricted funds but the employees can also fundraise for specific donations to cover an excess over this agreed salary as part of their work for the Charity, All the donations are always paid out as additional salary to the staff members during the year and therefore there is never a carried forward balance on these funds. Any such payments are processed through the payroll with any tax and national insurance costs being paid as necessary.
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REIGN MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
| 14 Analysis of net assets between funds Unrestricted funds Restricted funds 2021 2021 £ £ Fund balances at 31 August 2021 are represented by: Tangible assets 377,040 - Current assets/ (liabilities) 128,951 1,577 505,991 1,577 |
Total Unrestricted funds Restricted funds 2021 2020 2020 £ £ £ 377,040 374,638 - 130,528 130,725 114 507,568 505,363 114 |
Total 2020 £ 374,638 130,839 505,477 |
|---|---|---|
15 Related party transactions
During the year total donations without conditions of £3,480 were received by the charity from related parties.
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