Charity Registration No. 1157662 Reign Ministries Trustees, Report and Financial Statements For the year ended 31 August 2022 orner5tone ACCOUNTING
Reign Ministries Contents of the Financial Statements for the year ended 31 August 2022 Page Trustees, Report Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7-13
Reign Ministries Report of the Trustees for the year ended 31 August 2022 The Trustees are pleased to present their report together with the financial statements of the Charity for the year ended 31 August 2022. Principal office 43 London Road Bicester Oxon OX26 6BU Bankers Barclays Bank 36 Market Square Bicester OX26 6AQ Status of Charity and Goveming Document Reign Ministries was originally established in 2008, then was registered as a Charitable Incorporated Organisation ICIOI with the Charity Commission on l April 2014. It is registered under Charity Number 1157662. Objectives and activities Our purpose is to advance the Christian faith, particularly amongst young people, and to encourage and support training and coaching in youth leadership. We meet these objectives by undertaking the following activities.. We deliver an underEraduate degree proEramme to train youth ministers lin co-operation with Formission College and Newman University),. We train church and organisational youth teams Imade up of employed and volunteer youth leadersl through a two year training and coaching cycle called Learning Communityi We have run a pilot programme called Strategic Church Partnerships to offer additional levels of support, training and coaching to a youth leader and the church,. and We sell resources to further equip youth leaders with tools to aid their work and support of young people. Trustees The Trustees who served during the year and to the date of this report are.. Jenny Bodinham Carrie Heyward Alex Shoderu Dr Alan Stanhope David Williams Ms B O'Brien Mr D Wickens (appointed 20 November 20211 (resigned 20 November 20211 (resigned 20 November 20211 There must be at least 3 charity trustees. Existing trustees provide suitable names for new trustees and following assessment of this list of names, individuals are invited to become trustees. They must be appointed by resolution at a properly convened Board meeting. New trustees are inducted and trained through provision of the constitution, the latest annual report and statement of accounts and any other documents necessary forthem to gain an appropriate understanding of the Charitv. The Trustees met online through the year and were able to condutt all their usual business without impediment. The day to day operations are delegated to the Managing Director, Kyle McKinnon. Page I
Reign Ministries Report of the Trustees for the year ended 31 August 2022 Achievements and performance This year, we trained just under 30 students in Theology, Mission and Youth Ministry. We have spent charity resources on coaching churches, charities and lay volunteers to develop effective youth ministries through training courses and strategic church partnerships. The financial aspects of the charity have been reshaped in the past year as we have reduced some of the programmes that we offer and therefore the staff related to those programmes have left. We have been working on improving our fundraising ability 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. We have added some new team roles which has positioned us to grow in our ability to recruit more participants in the coming year. This effectiveness will hopefully lead to a greater number of people we are training, which has a positive knock on effect to our financial stability. The public has benefited in three 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. Secondlyi 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. Finally, we have been able to support other youth organisations in their approach and work with young people, therefore helping with provision of further and more effective youth work when the sector and young people desperately need this. Future plans We are almost halfway through our 10 year strategic plan. Our goa15 for the rllediurn term are to explore the growth and expansion of our suite of training opportunities, to establish three regional hubs across the UK, and to assess team health, opportunities and skills against future needs. Financial review Resultsfor the year The financial statements for the year are set out on pages 5 to 13. The Statement of Financial Activities on page 5 reflects net expenditure of £3,54812021.' net income of £2,091). This is a positive result for the organisation, Biven the challenges of raising funds during the pandemic. Reserve5 The Trustees aim to hold the equivalent of 3 months of general expenditure in the general fund at any time as a contingency to cover unforeseen costs which may arise. To enable better management of this reserves policy, the Trustees set up a new designated assets fund in the year to hold the value of the property and other non-liquid assets. This means that the funds held in the general fund are now fully liquid funds which can be used by the Charity to deliver the financial objectives. Total reserves amounted to £504,02012021.. £507,568). This was made up of £126,54412021- £505,991) of unrestricted general reserves, £376,424 12021.. nil) of unrestrirted designated reserves and £1,052 12021.. £1,5771 of restricted reserves. The unrestricted general reserves in place at the year-end therefore met our reserves poliry. Page 2
Reign Ministries Report of the Trustees for the year ended 31 August 2022 Statement on risk 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. The Trustees have considered those risks and are satisfied that they have introduced procedures to mitigate the possible effects of those risks. Statement of responsibilities of the Trustees Charity 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 Charity and of its income and expenditure for that year. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently,. observe the methods and principles in the applicable Charities SORP,. make judgements and estimates that are reasonable and prudent,. State whether applicable accounting standards and Statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presLJme that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable the Trustees to ensure that the financial statements comply with the Charities Act 2011. The Trustees are also responsible for taking such steps as are reasonably open to them to safeguard the Charitls assets and to prevent and detect fraud and other irregularities. On behalf of the Trustees David Williams Choir 12 November 2022 Page 3
Reign Ministries
Report of the Independent Examiner to the Trustees for the year ended 31 August 2022
I report on the accounts of the charity for the year ended 31 August 2022 which are set out on pages 5 to 13.
Respective responsibilities of Trustees and Examiner
The Charity’s Trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. It is my responsibility to examine the accounts as required and to state whether particular matters have come to my attention.
Basis of Independent Examiner’s statement
My examination is carried out in accordance with the Charities Act 2011. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records.
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 to enable a proper understanding of the accounts to be reached.
Alison Franks CA Director
12 November 2022
Cornerstone Accounting Ltd Chartered Accountants
11 Erngath Road Bo’ness EH51 9DP
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Reign M inistries Staternent of Financial Activitie$ For the year ènded 31 August 2022 General Designated Restricted funds funds funds 2022 Totsl General Designated Restricted funds funds funds 2021 Total Note5 Income and endowment5 Donations and legacie5 Charitable activitie5 26,773 102,698 27,733 46.434 73,207 102,698 27,733 861 65,431 49,411 76,075 5,186 141,506 54,597 888 Inve5tment5 Other 902 902 47 47 30.012 30.012 Totsl income and endowments 158,112 46,434 204,546 146,644 81,261 227,905 Expenditure 776 776 Charitable artivitie5 159.743 616 46,959 207,31B 146,016 79,798 225,814 Total expenditure 160,519 616 46,959 208,094 146,016 79,798 225,814 Net lexpenditurell1nc(e 12.4071 16161 15251 11.5481 628 1,463 2,091 Transfers between funds 12 1377.0401 377.040 Net movemerf In luthds 1379,4471 376,424 15251 13,5481 628 1,463 2,091 Total fund5 brought forward 505,991 1.577 507,568 505,363 114 505,477 Totsl funds carried forward 126,544 376.424 1.052 504,020 505,991 1,577 507,568 Represented bv.. General funds Designated funds Restricted funds 12 126.544 12 IZ6.544 376.424 1.05Z 504,020 505,991 505,991 376.424 Iz 1.05Z 1,052 1,577 1,577 1.577 507.568 Total funds 126.544 376.424 505.991 The notes on page$ 7 ro 13 form part of rhese flnancial statements. Page S
Reign Ministries Balante sheet As at 31 August 2022 General tle51Bnated Re5trirted fuhds funds fUts 2022 Total General Designated fund5 funds 2021 Total Notès funds Fixed assets TangibleassEtS 376.424 376,424 377,ts10 377.D40 Totalfixed assets 376.424 376,424 377,040 377,NO Curferrtassets Debtors Cash ai bankand in hand io 1,220 127,15Z L220 IZ8,ZQ4 1,585 133.631 1,585 135.208 1,052 1.577 Total cwrenta&sets 128,372 L052 129A24 135,216 1,577 136,793 Creditors..falling due within one year li 1.828 L828 6,265 6,265 Net<urrent a5set5 126,544 1,052 IZ7,596 128.951 1.577 130.528 Total assets lesstuttentllabllltoes 126.544 376,424 1.052 504.020 505,991 1,577 507,568 Netassets 126.5ty1 376.424 1.052 504,020 50S,991 1.577 507.£68 Fund5 of thetharity 12 12 126.S44 126,$44 376A24 1,052 50s,991 505,WI Desl$ndted funds Re51ricted funds 376,424 Iz 1.052 1,577 1.577 Total tharlt¥funds 126,544 376,424 L052 504,020 505,991 1,577 507,568 Thefin3 (ill 5taternent5 9n pages 5 to 13 wereipproved bytheTru5tee5 12 November2022 and Signed on their behalf by.. Davld Wlllams Trustee The notes on pages 7t0 13 form of these financial statements. Page6
Reign Ministries Notes to the Flnanclal Ststements for the year ended 31 August 2022 l. Accounting pollcles Accounting convention The financial statements are prepared under the historical cost convention and in accordance with the Charities Act 2011, the Financial Reporting Standard 102 and in compliance with the Charities SORP 2019 IFRS 1021. The principal accounting policies adopted in the preparation of the financial statements are set out below. Reign Ministries meets the definition of a public benefit entity under FRS 102. Basis offinanciol 5totements The financial statements have been prepared on an accruals basis. The Trustees consider that there are no material uncertainties so the accoLJnts have been prepared on the going concern basis. Income and debtors All income is recognised when the Charity is legally entitled to the income, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably. Debtors are valued at cost at the year-end and adjusted for any amounts considered to be irrecoverable. Expenditure and creditors Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Support costs are those costs incurred directly in sUPPOrt of expenditure on the objects of the charity. Creditors are valued at cost at the year-end and split between amount5 due in less than one year and amounts due in more than one year. Toxution The charity is exempt from Corporation Tax on its charitable activities. TangibleAixed ossets ond depreciotion Only tangible fixed asset additions over £1,000 are capitalised and are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives, as follows.. Land and buildings 0° Building improvements IO% straight line Fixtures, fitting5 and equipment 20Yo Straight line Ipreviously, reducing balance) Cush at bonk und in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of four months or less from the date of acquisition or opening of the deposit account. Fund accounting For the purpose of the Statement of Financi31 Activities, funds are defined as follows.. Unrestricted general funds comprise income received for the objects of the charity without further specified purpose and are available as general funds. Unrestrirted designated funds comprise those funds ringfenced by the Trustees for a particular purpose in the year ahead. Restricted funds comprise income which has been received for the objects of the charity and specified for a restricted purpose within these objects by the donor. Page 7
Reign Ministries Notes to the Flnanclal Ststements for the year ended 31 August 2022 l. Accounting pollcles Icontlnued) Operating lease income Rentals under operating leases are credited to the Statement of Financial Activities on a straight-line basis over the lease term. Pensions The charity operates a defined contribution pension scheme. The pension charge represents the amount payable by the charity on behalf of its employees. Donoted goods, focilities and services The Charity did not benefit from donated goods or facilities in the year. We have 6 volunteers who support the Charity through specific roles and responsibilities in coaching or advisory capacities. There are up to a further 10 volunteers that have assisted at charity events on an ad hoc basis. Page 8
Reign Ministries Notes to the financial statements For the year ended 31 August 2022 2. Donatlons and legacles General Restricted funds funds Totsl 2022 General funds Restricted funds Total 2021 UK donÈtions OversÈas donations Gift aid rec18imed Grants Fundrai5in8 income 9,679 6,062 1.361 6.000 3,671 18,917 27,517 28,596 33,579 1.361 6.¢XIO 3,671 11,197 64,878 11,197 92,533 1,748 36,028 27,655 1,748 36,028 26.773 46,434 73,207 65,431 76,075 141,506 The following grants were received in the year.. Church Communities Fund Job Retention Scheme 6,000 36,028 36,028 6.000 6.(KlO 36,028 36,028 3. Charltable attlvltles General Restrlcted funds funds Total 2022 General funds Restricted funds Total 2021 Degree incorne Internship income MovÈolution income Church partnership income Le8rning community income Event income 91,673 215 210 91,673 215 210 36,538 1,856 868 36,538 7,042 868 5,186 9,000 1,000 600 9,000 1.149 9,000 1,149 6(• 102,698 102,698 49,411 5,186 54,597 4. Tradlng Income General Restricted funds funds Total 2022 General funds Restricted funds Total 2021 Resource5 sale5 VÈnuÈ hire Flat rental 2,191 4,376 21.166 2,191 4.376 21.166 888 888 27.733 27.733 888 888 5. Investments General Restrltted funds funds Total 2022 General funds Restrirted funds Total 2021 Bank interest 861 861 902 902 861 861 902 902 6. Other General Re51ricted funds funds Total 2022 General fund5 Restricted fund5 Total 2021 Other income 47 47 30,012 30,012 47 47 30,012 30,012 Page 9
Reign Ministries Notes to the financial statements For the year ended 31 August 2022 7. Expendlture on ralslng funds RÈstated Total 2021 General Restricted funds funds Totsl 2022 General funds Restricted funds Paypal fees Event C05tS Donor support 49 327 400 49 327 776 776 8. Expenditure on charitsble artivities Restated Total 2021 General Restrfrted funds lunds Total 2022 General funds Restricted funds Dire¢tthurit17&1e expendity DegrÈÉ tost5 Internship costs Moveolution costs Church partnership costs Learning community Costs Resource cost5 25,896 25,896 36,262 21,952 3,234 16,864 3,644 36,262 27,138 3,234 16,864 3,644 10,561 5,186 115 115 2,196 2,196 10,561 Indirert charitable expenditure Wages and 5alarie5 Etnployer'5 Nl Pènsion tosts 68,922 17,854 86,776 37,229 4,399 4,552 848 63,732 100,961 4,399 4,552 955 1,345 443 36.318 1,343 1,345 443 Other staff costs Contractor costs Cluster leaders Training materials and printing costs Venue hire and event Costs RÈtÈs and watÈr Insurance Heat and light Repairs and maintenance Office, telephone and IT costs Conference expense5 AdvÉrt15ing Tr3vÈl and subsistÈnce Legal and professional fees Accounting fees Independent examination fee Depreciation Gain on 54le of fixed asset5 Bad debts Bank charges Sundry expenses 107 5.893 42.211 1,343 7,226 2,599 2,443 1,146 4.534 2.591 3,504 1,250 13,047 1,214 7,182 2,599 2,443 1,146 4.534 2.591 3,504 2,338 1,140 2,219 2,069 2,025 2,338 1,140 2,219 2,069 2,025 212 4,102 473 363 1,250 12,584 212 463 1,214 4,102 473 363 1.926 880 1.926 780 770 192 780 770 192 3,083 98 836 3,083 70 491 70 491 836 Total expenditure 159,743 46,959 206,702 146,016 79,798 225,814 Support costs have not been separately identified as the trustees consider there is only one charitable activity. Depreciation of £616 has been charged in the year through the designated assets fund. The average number of staff during the year was 712021.. 101. No employees were paid more than £60,000. Key Management Personnel of the Charity are defined 8S the M8naging Director. His remuneration totalled E18,463. No accrual has been made for holiday pay at the yeèr-end as there were no material amounts due. PaEe IQ
Reign Ministries Notes to the financial statements For the year ended 31 August 2022 9. Tanglble fflxed assets Flxtures. Property Ilttings and improveMer equipment Land and buildings Totsl Cost At I September 2021 Reclassification of asset category 373,875 5,145 12,6581 379,020 2,658 At 31 August 2022 373,875 2,658 2,487 379,020 Deprwotion At I September 2021 Charge for the year Reclassification of asset category 1,980 616 1.980 616 532 15321 532 2,064 2.596 Net book volue At 31 August 2022 373,875 2,126 423 376,424 At 31 August 2021 373.875 3,165 377,040 10. Debtors General Resiricted funds funds General funds Restricted funds 2022 2021 Trade debtors Prepayments 1,220 1.220 918 667 918 667 1,220 1,220 1,585 1,585 11. Credltors.. falllng due wlthln one year General Restricted funds funds General funds Restricted funds 2022 2021 Deferred income AttruÈls Other creditors Taxation and social security 5,363 782 5,363 782 880 810 138 810 138 120 120 1.828 1.828 6,265 6,265 PaEe 11
Reign Ministries Notes to the financial statements For the year ended 31 August 2022 12. Funds movements Current year Balance at I Sept 2021 Balance at Transfers 31 Aug 2022 Income Expenditure Unreslricted funds General fund Designated assets fund 505,991 158,112 1160,5191 1377,0401 16161 377,040 126.544 376.424 Total unrestricted funds 505,991 158,112 1161,1351 502,968 Restricted funds Resources project fund Staff conference fund C Staff support fund D Staff support fund 750 827 27,765 815 12,464 5,390 127,8551 11,2501 112,4641 15,3901 660 392 Total re5trirted fund5 1,577 46,434 146,9591 1,052 Total charity funds 507,568 204,546 1208,0941 504,020 Bolonce ut I Sept2020 Balance ot Tn7nsfvrs 31 Auq2021 Prioryeor Income Expenditure Unrtttrirtedfunds 505,363 146,644 (146,0161 505,991 505,363 146,644 (146,0161 505,991 Restrirtedjunds Resources projectfund Stoff conferencefund A Staff supportfund 8Staff supportfufjd Cstoff sUPPOrtfurJd D Stoff supportftsnd 114 11,197 1,146 26,310 26,310 11,112 5,186 110,5611 13191 {26,3101 126,3101 111,1121 15,1861 750 827 114 81,261 179,7981 1,577 Totolchurltyfvnds 505.477 227.905 1225.814J 507.568 Explanatlon of funds Unrertrictedfvnds.. Th& GÈnerolftsnd represents 311 income and expenditure relating to the primary focus activities of the charity, other than those for which funding is designated or restricted. Th& Designoted rJssetsfund holds the fixed assets of the Charity separately from the liquid assets. RestrlrtedAunds.' The Resources ProjÈrtfvnd represents donations received to fund the development of resources such as videos and printed materials for sale to Christian youth workers. ThÈ Stttff cDnferentÉfund represents fundlng rÈtÈived towards an annual staff retreat and assoclated costs. ThÈ Stttff supportfunds arisÈ whÈre ÈmployÈÈs arÉ partially sÈlf-supported, that Is, whÈre the Charity agrÈÈs a fixÈd salary to be Paid out of general funds, but the employees can also fundraise for additional salary costs. All these additional salary costs are paid through payroll with the necessary deductions of tax and national insurance. PaEe 12
Reign Ministries Notes to the financial statements For the year ended 31 August 2022 13. Operating leases At 31 August 2022, the Charity held two operating leases as the le550r'. The office space in Bicester is let directly. A new lease agreement was signed on I September 2022 for £9,000 per annum plus £SOO contribution to utilities. The flat 15 let through a property letting agency who are paid a 13% rnanagement fee on all rental income. No incorne 15 guarantÈÈd wherÈ the flat is not let and the agreemènt can be tèrminatèd with 3 month's notitÈ. 14. Penslon tommltments ThÈ ChÈrity opÈratÈs an auto-enrolmÈnt pÈnsion scheme with Smart Pension Limited for all eligible employees. Employer contributions to the scheme are disclosed in note 8. IS. Trustee and related party transactions ThÈre was no rÈmunÉrÈtion or ÈxpensÈs paid toTrusteÈs during thÈ year Ènded 31 August 202212021.. nill. Sam Willi3rn5, the 50n of trustee David Williams, 15 ernployed by the Charity and received remuneration of £10,62112021.. £9,552) in thÈ year. Matt Bodinham, the son of trustÈe JÈnny Bodinham, is also Èmployed bythe Charity and receivÈd remuneration of £5,248 in the year. Unrestricted don3tion5 of £1,23012021.. £3,480) were received bythe Charity from the Trustee5. £1,052 of restricted donations to support staff members werÈ madÈ by rÈlÈted partiès to the Trusteès.. and £120 of unrÈstrittÈd donations werÈ made by related partiÈs to the Trustees. 16. Volunteers We have 6 volunteers who support the Ch3ritythrough specific roles and responsibilities in coaching or advisory capacities. There are up to a further 10 volunteers that have assisted at charity events on an ad hoc basis. PaEe 13