Charity Registration No. 1157662 Reign Ministries Trustees, Report and Financial Statements For the year ended 31 August 2023 ornerstone ACCOUNTING
Reign Ministries Contents of the Financial Statements for the year ended 31 August 2023 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 2023 The Trustees are pleased to present their report together with the financial statements of the Charity for the year ended 31 August 2023. Principal office 43 London Road Bicester Oxon OX26 6BU Bankers Barclays Bank 36 Market Square Bicester OX26 6AQ Status of Charity and Governing 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 undergraduate 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 leaders) through a two year training and coaching cycle called Learning Communityi We have rLJn 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. The trustees have had regard to the Charity Commission's guidance on public benefit. Trustees The Trustees who served during the year and to the date of this report are- Dave Williams lenny Bodinham Carrie Heyward Alex Shoderu Dr Alan Stanhope Chair 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 necessaryforthem to gain an appropriate understanding of the Charity. The Trustees met online through the year and were able to conduct 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 2023 Achievements and performance This year, we trained 21 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. We also expanded our influence by offering professional development training for existing charities in England. The financial aspects of the charity have been reshaped in the past year as we have reduced the number of conferences we are delivering in person. We have been working on improving our fundraising ability through staffing and financial management controls. We are developing our internal systems and structures to help us maintain this growth going forward. The position of the charity is healthy financially. We have made some changes as to how we are going to deliver the academic part of the degree in the coming year. This will lead us to a more regional fotus and will put local training and coaching on a higher plane. The public has benefited in three ways this past year through the growth of the charity. Firstly, we are now working with groups of teenager5 in a wider range of communities across the UK. Secondly, by investing into a generation of young le3ders 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. We believe that we are going to hit our target for the 20 movement leaders we want to see raised up and we are excited about that. We hope that by taking a regional focus we also can be more agile and more effective around the UK. We have 2 hubs started in 2023 and we hope in the coming year to add 1-2 to this list. We are going to accomplish this by partnering with former students and with regional organisations that have a similar vision. 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 income of £2,91012022'. net expenditure of £3,548). This is a positive result for the organisation, given the challenges of raising funds in today's climate. Reserves The Trustee5 aim to hold the equivalent of 3 rllonths of general expenditure in the general fund at any time as a contingency to cover unforeseen costs which may arise. Total reserves amounted to £506,93012022.. £504,020). This was made up of £122,68512021.. £126,544) of unrestricted general reserves, £376,017 12022.. £376,424) of unrestricted designated reserves and £8,22812022: £1,052) of restricted reserves. The unrestricted general reserves in place at the year-end therefore met our reserves policy. 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. Page 2
Reign Ministries Report of the Trustees for the year ended 31 August 2023 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 estimate5 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 5tatements,' and prepare the financial statements on the going concern basis unless it is inappropriate to presume 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 Charit5 assets and to prevent and detect fraud and other irregularities. On behalf of the Trustees Dave Williams Chair 27 April 2024 Page 3
Reign Ministries
Report of the Independent Examiner to the Trustees for the year ended 31 August 2023
I report on the accounts of the charity for the year ended 31 August 2023 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
30 April 2024
Cornerstone Accounting Ltd Chartered Accountants
11 Erngath Road Bo’ness EH51 9DP
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Reign Ministries Statement of Financial Activities Forthe year ended 31 August 2023 General Deslgnaied Resirlrted fvnds fvnds fvnds 2023 Totsl General Designated Resrri¢ted funds funds funds 2022 Total Notes In¢orne and endowments Don3tions and legacies 17.297 81.513 38.936 1,931 36.425 8.420 3.149 53.72Z 89.933 42.085 1.931 26,773 102,698 27,73a 861 46,434 74,207 102,698 27,733 861 Investments Other 47 47 Total income and endLwirnents 139,677 47,994 187,671 158,112 46,434 204,546 Expendlture 7.976 135,560 7.976 176,785 776 776 Charitable actwitie5 407 40.818 159,743 616 46,959 207,318 Total expenditure 143.536 407 40.818 184,761 160,519 616 46,959 208,094 Net lexpenditurellincome 13.8591 14071 7.176 2.910 2,4071 15251 13.5481 Tr8nsfers between funds 12 1377,0401 377,040 Net movement in funds 13,8591 14071 7,176 2,910 1379,4471 376,424 Total funds brought forward 126.544 376.424 1.05Z 504,020 505,991 1,577 507,568 Total funds carried forward 122.685 376.017 8.228 506,930 126,544 376,424 1,052 504,020 Represented bv.. General funds Designated funds Restricted funds 12 122.685 12 IZ2.685 376.017 8.228 8.218 8.228 506,930 126,544 126,544 376,424 1,052 S04.020 376.017 376,424 12 1,052 1.052 Total funds 122.685 376.017 126,544 376,424 The notes on page$ 7 to 13 form part of these flnan¢ial statements. Pige S
Reign Ministries Balance sheet As at 31 August 2023 General Deslsnared Restrlcred fund5 fvnd5 fyThd5 2023 Total 2022 Nots5 fvnd5 fund5 fund5 Flxed assets Tangible assets 376.017 376,017 376,424 376.424 Total fixed assets 176.017 376,017 376,424 376,424 turrent a55ets Debtor5 Cash at bank and in hand io 8,282 IIS,521 1,220 127,152 1,220 128,204 8,218 123,749 1.052 Total CurtÈntassÈts 123.801 8,228 128,372 1.052 129,424 li 1.1 1.1 1.828 1.828 Net currentassets 122.685 8.218 130.913 126.544 1.052 127.596 Total asstts less tuwent liabilkles 122,685 376,017 8,228 506.930 126,S44 376,424 1,052 504,020 Net45sets 122.685 976.017 8.228 506,930 126,544 376,424 1.052 504,020 Fund$ofthe charity 12 12 It2.6È5 122,615 376.017 8.228 126.S44 126,S44 376,424 1,052 Designated funds 176.017 376,424 Iz 8,215 1.052 Total CharftYfThd5 122,685 176,017 8.228 506,930 126,544 376,424 1,052 51W,020 Thefinincial 5tatement5 on pige5 5t0 13 wereapprgved bytheTru¢ee5 27 April 2024¥nd Signed on theirbehalf by.. DaveWilliam5 Trustee The noies on p3ges 7t0 13 form part of these financial statements. Pè8e6
Reign Ministries Notes to the Financial Statements for the year ended 31 August 2023 l. Accounting policies Accountin9 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. Basls offinanclal statements The financial statements have been prepared on an accruals ba515. The Trustees consider that there are no material uncertainties so the accounts have been prepared on the going concern basis. Income ond 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 headinEs that aggregate all cost related to the category. Support costs are those costs incurred directly in support of expenditLJre on the objects of the charity. Creditors are valued at cost at the year-end and split between amounts due in less than one year and amounts due in more than one year. Toxotion The charity is exempt from Corporation Tax on its charitable activities. Tongiblefixed assets and depreciation 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, a5 follows.. Land and buildings oy. Building improvements IO% straight line Fixtures, fittings and equipment 20% straight line Ipreviously, reducing balance) C05h ot bank ond in hund 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 Financial 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. Unrestricted designated fLJnds comprise those funds ringfenced by the Trustees for a particular purpose in the year ahead. RestrACted 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 Financial Statements for the year ended 31 August 2023 l. Accounting policies (continued) Opemting leose 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 it5 employees. Donated good5, focilitie5 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 finantlal statements For the year ended 31 August 2023 2. Oonation5 and legarie5 General Restrlcted funds lunds Total General funds Restritted funds Total 2022 2023 UK donation5 Over5ea5 don4tions Gift aid reclaimed 10,366 75 1.590 3.000 2,266 16,856 17,942 27,222 18,017 1,590 9,679 6,062 1,361 6,000 3,671 18,917 27,517 28,596 33,579 1,361 6,000 3,671 Grants Fundraising income 1,627 3,893 17,297 36,425 53,722 26,773 46,434 73,207 The following grants were received in the year-. Bruderhof Community Church Communities Fund 3.000 6,000 6,000 3.000 6,000 6,000 3. Charltable artlvltles General Restrlcted fund5 funds Totsl 2023 General funds Restricted funds Total 2022 Degree income Internship income Movèolution intome Church partnership income Tr8ining event income Event income Consultancy income 75,925 75,925 91,673 215 210 91,673 215 210 375 375 9,000 1,000 600 9,000 1,000 600 4,468 745 5(Kl 4,968 745 7,920 7,920 81,513 8,420 89,933 102,698 102,698 4. Trading income General Re51ricted funds funds Totsl 2023 General funds Restricted funds Total 2022 Resources sales Venue hire 12 9,316 29,608 3,149 3,161 9,316 29,608 2,191 4,376 21,166 2,191 4,376 21,166 38,936 3,149 42,085 27,733 27,733 S. Investments General Re51ricted funds funds Totsl 2023 General fund5 Restricted funds Total 2022 Bank interest 1,931 1,931 861 861 1.931 1.931 861 861 6. Other General Restricted funds funds Total 2023 General funds Restricted funds Total 2022 Other income 47 47 47 47 Pa8e 9
Reign Ministries Notes to the finantlal statements For the year ended 31 August 2023 7. Expenditure on rai5ingfunds General Restrlcted funds lunds Total General funds Restritted funds Total 2022 2023 Flat rental costs Paypal fee5 Event Costs Fundraising rèsourcès costs 6,249 42 852 833 6.249 42 852 833 49 327 400 49 327 400 7,976 7,976 776 49 8. Expenditure on charitable artivities General Restritted funds lunds Total Z023 General funds Restricted funds Total 2022 Dire¢t¢h#ritoble expendityre DÈgrÈÈ costs Learning community costs Fiesource costs 22,365 22,365 25,896 115 25,896 115 2,196 2,196 Itjdlrertchorltoble expendlture Wages and salaries Employer's Nl Pension costs Other staff cost5 Contractor tosts 47.280 16.113 63.393 68,922 17,854 86,776 2,266 307 37,454 1.634 loo 828 2,842 815 5,195 2.846 2.627 1,434 645 2,914 145 2.266 549 48,633 1,634 3.880 828 2,842 815 5,195 2.846 3.419 2.613 5,170 3,012 145 2,910 2.469 1,345 443 36,318 1,343 44 2,599 2,443 1,146 4,534 2,591 3,504 1,345 443 42,211 1,343 7,226 2,599 2,443 1,146 4,534 2,591 3,504 1,250 13,047 1,214 242 11,179 5,893 Cluster leaders Training materi81s and printing costs Venue hire and event costs Rates and water Insurance HÈat and IIEht Repairs and maintenance Office, telephone and IT costs Conference expenses Advertising Tr3vel and 5ub515tence Membership fÈÈs Leg31 and professional fees Accounting fees Independent examination fee Depreciation Bad debt5 Bank chÈrgÈs Sundry expenses 3.780 7.182 792 1.179 4,S25 1,250 12,584 463 1,214 2,910 2.469 880 1,926 880 1,926 880 345 169 345 169 3,083 98 836 3,083 98 836 Total expenditure 135,560 40,818 176,378 IS9,743 46,959 206,702 Support costs have not been separately identified as the trustees consider there is only one charitable activity. Depreciation of £407 has been charged in the year through the designated assets fund. The average number of st8ff during the year was 612022.. 71. No employees were paid more th8n £60,000. Key Management Personnel of the Ch3rity are defined 3S the Managing Director. His remuneration rotèlled £19,24112022.. £18,463). No 3ccrual has been made for holiday pay at the year-end as there were no material amounts due. Pa8e 10
Reign Ministries Notes to the finantlal statements For the year ended 31 August 2023 9. Tangiblefixed assets Fixtures, Land and Property ffittlngs and bulldlngs Improvements equlpment Total Cost At I September 2022 373,875 2,658 2,487 379.020 At 31 August 2023 373.875 2,658 2,487 379.020 Depreciution At I September 2022 Charge for the year 532 266 2,064 141 2,596 407 At 31 August 2023 798 2,205 3,003 Netbook volue At 31 August 2023 373,875 1,860 282 376,017 At 31 August 2022 373,875 2,126 423 376,424 10. Debtors General Restricted funds fund5 General funds Restricted fund5 2023 2022 Trade dèbtors Prep3ymenrs and accrued income Other debtors 2.002 720 5,560 2.002 720 5,560 1,220 1,220 8,282 8,282 1,220 1,220 11. Credltors.. falllng due wlthln one year General Restrlcted funds funds General funds Restricted funds 2023 2022 Accrua15 Other creditors Taxation and soci31 security 1,000 880 810 138 880 810 138 118 118 1,118 1,118 1,828 1,828 Pa8e 11
Reign Ministries Notes to the finantlal statements For the year ended 31 August 2023 12. Funds movernents Current year Balance at I Sept 2022 Balance at Transfers 31 Aug 2023 Income Expenditure Unrestricted funds General fund De5ign4ted a55ets fund 126,544 376,424 139,677 1143,5361 14071 122,685 376.017 Total unrestricted funds 502,968 139,677 1143,9431 498,702 Restrlcted funds Resources project fund Staff conference fund C Staff support fund D Staff 5UPPOrt fund 660 392 30,857 787 12,899 3,451 123,2891 11,1791 112,8991 13,4511 8,228 Total restricted funds 1,052 47,994 140,8181 8,228 Total charity funds 504,020 187,671 1184,7611 506,930 Bolonce ut I Sept2021 Bolunce at Tmn5ftr5 31 Aug2022 Prior year Income Expenditure UftrÈstrirtedfunds General fund Oesign8ted assets fund 505,991 158,112 {160,5191 1377,040) 16161 377,040 126,544 376.424 505,991 158,112 (161,135) 502,968 Restrictedfunds Resources projectfund Staff conferencefund Cstoff sUPPOrtfund D Stoff supportftsnd 750 827 27,765 815 12,464 5,390 {27,8551 11,2501 {12,4641 (5,3901 660 392 1,577 46,434 146,9591 1,052 Totolchurityfvnds 507,568 204,546 {208,094J 504,020 Explanatlon of funds Unrestrictedfunds.. The Generolfund represents 811 income and expenditure re18ting to the prim8ry focus activities of the charity. other than those for which funding is designated or restricted. The Dtsignoted ossetsfund holds the fixed assets of the Charity separately from the liquid assets. Restrictedlunds.. The Resources Projectfund represents donations received to fund the development of resources such as videos and printed materials for sale to Christian youth workers. The 5toff conferencefund represents funding received towards an annual staff retreat and associated costs. The Stoff 5upportfunds arise where employees are partially self-supported, that is. where the Charity agrees a fixed 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 ta¥ and national insurance. Pa8e 12
Reign Ministries Notes to the finantlal statements For the year ended 31 August 2023 13. Operatlng leases At 31 August 2023, the Charity held two operating lea5e5 as the le550r: The office space in Bicester is let directly. A 2 year lease agreement was signed on I September 2022 for £9,000 per annum plus £500 contribution to utilitie5. The flat is let through a property letting agency who are paid a 13% management fee on all rental income. No income is guaranteed where the flat 15 not let and the agreement can be terminated with 3 month's notice. 14. Pension commitments The Charity operÈtes an aut(Fenrolrnent pension scheme with Smart Pension Limited for all eligible employees. Employer contributions to the scheme are disclosed in note 8. 15. Trustee and related party transactions There was no remuneration paid to Trustees during the year ended 31 August 202312022.. nill. Total expenses of £39 were paid to one Trustee for refreshments at the AGM. m Williams, the son of trustee Dève Williams, is employed by the Charity 8nd received remuneration of E7,66412022'. £10,621) in the year. Matt Bodinham, the son of trustee Jenny Bodinham, is also employed bythe Charity and received remuneration of £5,42112022.. £5,248) in the year. Unrestrirted donations of £94112022.. EI,3501 were received by the Charity from Trustees and related parties. £1,29112022.. £1,052) of restricted donations to support staff members were made byTrustees and related parties. 16. Volunteers We have 6 volunteers who 5UPPOrt the Chzritythrough specific role5 and responsibilitie5 in coaching or advisory capacities. There are up to 3 further 10 volunteer5 that have a5515ted at charity event5 on an Hd hoc bas15. Pa8e 13