Charity Registration No. 1157662 Scottish Charity Registration No. SC053118 Reign Ministries Trustees, Report and Financial Statements or erstone COUNTING
Reign Ministries Contents of the Financial Statements for the year ended 31 August 2024 Page Trustees, Report Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7-13
Ministries the Trustees for the year ended 31 August 2024 tees are pleased to present their report together with the financial statements of the Charity for ded 31 August 2024. Bankers Barclays Bank 36 Market Square icester 66AQ Cambridge and Counties Bank Redwood Bank Charnwood Court The Nexus Building 5B New Walk Broadway Leicester Letchworth Garden City LEI 6TE SG6 3TA OX2 Status o rit Reign Ministri Organisation (Cl 1157662. On 13 Fe Regulator IOSCR) unde cument ished in 2008, then was registered as a Charitable Incorporated mission on l April 2014. It is registered under charity number was also registered with the Office of the Scottish Charity al 20
Reign Ministries Report of the Trustees for the year ended 31 August 2024 Achievements and performance This year we trained 10 students in Theology, Mission and Youth Ministry. We have also trained about 50 leaders and 5 churches on ways to develop a disciple making approach to engaging young people. We have also had the opportunity to train a number of leaders within the Elim domination around disciple- making. We have also invested time and resources into supporting a growing network of youth leaders from around the UK called the 'Disciplemaking Projecy. Financially, we have made some staffing changes which have reduced our overheads and help us to remain financially stable in a season of change. We have received external advice on how to develop a stronger structure and have also engaged in the services of an outside group to help us with our fundraising needs. We see our streamlined team well positioned to adapt to programme changes or developments - a strength many charities would be envious of. The public has benefited this past year in three ways through the work of the charity. Firstly, by connecting with regional partners we are expanding our influence on different groups of young people across the UK. We are developing links and networks into areas we have never had much influence or impact in before. Secondly, by investing in a generation of youth leaders- both paid and volunteer- we are strengthening an aspect of the church and society which has been shrinking in recent times. This investment will help these leaders to continue in youth ministry and be more effective in what they do. Finally, as we are able to support others in their approach to youth work, we believe that we are making the sector as a whole stronger which will therefore result in a healthier provision for young people in the coming months and years. We have restructured the way that we are helping deliver the degree-level training, and this year we have established that it is viable. We can nowworkthrough our partnership5 to recruit and train more students in the coming years. We are also in the process of piloting a resource that we believe could be of huge value to the 15,000 churches in the UK who have 0-5 younE people in them. Finally, we are investing more time and energy into the Disciplemaking Project. We believe that this network has a huge potential to influence locally and nationally and therefore are very excited to see where it is going to go. Future plans We have restructured the way that we are helping deliver the degree-level training, and this year we have established that it is viable. We can nowworkthrough our partnerships to recruit and train more students in the coming years. We are also in the process of piloting a resource that we believe could be of huge value to the 15,000 churches in the UK who have 0-5 young people in them. We are investing more time and energy into the Disciplemaking Project. We believe that this network has huge potential to influence locally and nationally and therefore are very excited to see where it is going to go. Finally, the trustees are exploring the sale of the property held in Bicester in the next financial year. As the activities and geographical location of ministry has shifted, the need for a building in Bicester has largely disappeared. The trustees are inclined to think that the asset held as cash would see the charity better in the short to medium term as new opportunities and programmes are considered. Page 2
Reign Ministries Report of the Trustees for the year ended 31 August 2024 Financial review Results for the year The financial statements for the year are set out on pages 5 to 13. The Statement of Financial Artivities on page 5 reflects net expenditure of £28.990 {2023: net income of £2,910). This is in line with forecasts, as this year saw the charity plateau in student numbers, pivot its strategy for student recruitment, and invest in new pilots and initiatives to build for a stronger and stable future. Reseryes 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. Total reserves amounted to £477,94012023: £506,930). This was made up of £102,33012023: £122,685) of unrestricted general reserves, £375,610 (2023: £376,017) of unrestricted designated reserves and £nil 12023: £8,228) 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. 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 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 Chariws assets and to prevent and detect fraud and other irregularities. On behalf of the Trustees Dave Williams Chair 6 March 2025 Page 3
Reign Ministries
Report of the Independent Examiner to the Trustees for the year ended 31 August 2024
I report on the accounts of the charity for the year ended 31 August 2024 which are set out on pages 5 to 13.
Respective responsibilities of Trustees and Examiner
The Charity Trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011, the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Charity Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Basis of Independent Examiner’s statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations (as amended) and 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
In the course of my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 130 of the Charities Act 2011, Section 44(1) (a) of the Charities and Trustee Investment (Scotland) Act 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended)
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Alison Franks CA Director
12 March 2025
Cornerstone Accounting Ltd Chartered Accountants
11 Erngath Road Bo’ness EH51 9DP
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Reign Ministries Statement of Financial Activities For the year ended 31 August 2024 General Designated Restrirted funds funds funds 2024 General Designated Restricted Total funds funds funds 2023 Total Note Income and endowments Donations and legacies Charitable activities Other trading activities Investments 7.181 35.831 39,300 3,623 13.515 1.200 960 20.696 37.031 40.260 3,623 17.297 81.513 38,936 1,931 36,425 8,420 3,149 53,722 89,933 42,085 1,931 Total income and endowments 85.935 15.675 101.610 139,677 47,994 187,671 Expenditure Raising funds Charitable activities 6.515 99,775 6.515 7,976 23,903 124.085 135,560 7,976 40.818 176,785 407 407 Total expenditure 106,290 407 23,903 130,600 143,536 407 40,818 184,761 Net income/lexpenditurel 120.355) {407) {8.2281 {28.990) 13,8591 14071 7,176 2,910 Transfers between funds li Net movement In funds 120.3551 {407) {8.2281 {28.990) 13,8591 14071 7,176 2,910 Total funds brought forward 122.685 376.017 .228 506.930 126,544 376,424 1,052 504,020 Total funds carried forward 102.330 375.610 477.940 122,685 376,017 8,228 506,930 Represented by: General funds Designated funds Restricted funds 11 102.330 li li 102.330 122,685 375.610 122,685 376,017 8,228 8,228 8,228 506,930 375.610 376,017 Total funds 102,330 375,610 477,940 122,685 376,017 The notes on pages 7 to 13 form part of these financial statements. Page 5
Reign Ministries Balance sheet As at 31 August 2024 General Designated Restricted funds funds funds 2024 General Designated Restricted Total funds funds funds 2023 Total Note: Fixed assets Tangible assets 375.610 375.610 376,017 376.017 Total fixed assets 375.610 375.610 376,017 376,017 Current assets Debtors Cash at bank and in hand 9.375 96.508 9.375 8.282 96.508 115,521 8,282 8,228 123.749 Total current assets 105.883 105.883 123.803 8.228 132,031 Liabilities Creditors.. falling due within one year io 3,553 3.553 1.118 1,118 Net current assets 102.330 102.330 122,685 8,228 130,913 Total assets less current liabilitses 102.330 375.610 477.940 122,685 376,017 8,228 506,930 Net a55ets 102,330 375,610 477,940 122,685 376,017 8,228 $06,930 Funds of the charity General funds Designated funds Restricted funds 11 102.330 li li 102.330 122,685 375.610 122.685 376,017 8,228 375.610 376,017 8,228 Total charity funds 102,330 375.610 477,940 122.685 376,017 8,228 506,930 The financial statements on pages 5 to 13 were approved by the Trustees on 6 March 2025 and signed on their behalf bv.. Dave Williams Trustee The notes on pages 7 to 13 fomi part of these financial statements. Page 6
Reign Ministries Notes to the Financial Statements for the year ended 31 August 2024 l. Accounting policies Accounting convention The financial statements are prepared under the historical cost convention and in accordance with the Charities Act 2011, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Financial Reporting Standard 102 and in compliance with the Charities SORP 2019 (FRS 102). 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 offinuncial 5tatementS The financial statements have been prepared on an accruals basis. The Trustees consider that there are no material uncertainties so the accounts 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 5UPPOrt of expenditure 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. Taxation The charity is exempt from Corporation Tax on its charitable activities. Tangiblefixed assets und 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, as follows: Land and buildings Building improvements Fixtures, fittings and equipment IO% straight line 20% straight line (previously, reducing balance) Cash at bank and in hond 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 funds comprise those funds ringfenced by the Trustees for a particular purpose in the year ahead. Restrictedfunds comprise income which has been received forthe objects of the charity and specified for a restricted purpose within these objecis by the donor. Page 7
Reign Ministries Notes to the Financial Statements for the year ended 31 August 2024 l. Accounting policies {continued) Operating lease income Rentals under operating leases are credited to the Statement of Financial Activities on a stra ight-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. Donated goods. fvcilities 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 2024 2. Donations and legacie5 General Restrirted funds funds Totsl 2024 General funds Restrirted funds Total 2023 UK donations Oversea5 donations Gift aid reclaimed Grant- Bruderhofcommunity Fundraising income 5,016 75 13,515 18,531 75 10,366 75 16,856 17,942 27,222 18,017 1,590 3,000 3,893 1,015 1,015 1,590 3,000 2,266 1,075 1,075 1,627 7,181 13,515 20,696 17,297 36,425 53,722 3. Charitable activities General Restritted funds funds Total 2024 General funds Restricted funds Total 2023 Degree income Church partnership income Training event income Event income Consultancy income 30,298 30,298 75,925 375 75,925 375 203 1,130 4,21)0 203 4,468 745 500 4,968 745 1,130 1,200 7,920 7,920 35.831 1.200 37,031 81.513 8,420 89.933 4. Tradlng Income General Restrlrted funds funds Total 2024 General funds Restricted funds Total 2023 Resources sales Venue hire Flat rental 156 9.500 29.644 960 1.116 9.500 29.644 12 9.316 29,608 3,149 3,161 9,316 29,608 39.300 960 40.260 38,936 3,149 42,085 5. Investments General Restricted funds funds Total General funds Restricted funds Total 2024 2023 Bank interest 3,623 3,623 1,931 1,931 3.623 3.623 1.931 1.931 6. Expendlture on ralsing funds General Restrlcted funds funds Totsl 2024 General funds Restricted funds Total 2023 Flat rental costs Paypal fees Event Costs 6.449 42 6,449 42 6.249 42 852 833 6.249 42 852 833 Fundraising resources Costs 24 24 6.515 6.515 7,976 7,976 Page 9
Reign Ministries Notes to the financial statements For the year ended 31 August 2024 7. Expenditure on charitsble activities General Restrirted fund5 funds Total 2024 General funds Restrirted funds Total 2023 Dirert charitable expenditure Degree costs 6.824 6.824 22,365 22,365 Indirert chcritable expenditure Wages and salaries Pension costs Other staff costs Contractor costs Cluster leaders Training materials and printing costs Venue hire and event costs Rates and water Insurance Heat and light Repairs and maintenance Office, telephone and IT costs Conference expenses Advertising Travel and subsistence Membership fees Legal and professional fees Trustee expenses Transfer to Start to Stir charity Accounting fees Pension admin fees Independent examination fee Depreciation Bad debts Bank charges Sundry expenses 46,830 1,236 976 17,197 1,908 13,515 60,345 1,236 976 47,280 2,266 307 37,454 1,634 loo 16,113 63,393 2,266 549 242 531 17,728 1,908 406 11,179 48,633 1,634 3,880 828 62 3,780 1,373 2,592 1,060 3,580 2,947 1,872 1,971 326 1,608 1,373 2,592 1,338 3,580 3,077 2,237 1,971 2,759 1,608 828 2,842 815 2,842 815 278 5,195 2,846 2,627 1,434 645 5,195 2,846 3,419 2,613 5,170 3,012 145 130 365 792 1,179 4,525 98 2,433 2,914 145 144 1,128 177 2,910 2,910 177 6,445 6,445 2,288 31x1 2,288 300 2,469 2,469 1,200 1,200 880 880 1,895 102 1,895 102 345 345 169 169 185 185 Total expendlture 99.775 23.903 123.678 135,560 40,818 176,378 Support costs have not been separately identified as the trustees consider there is only one charitable activity. Depreciation of £40712023: £4071 has been charged in the year through the designated assets fund. The average number of staff during the year was 612023= 61. No employees were paid more than £60.000. Key Management Personnel of the Charity are defined as the Managing Director. His remuneration totalled £20,71512023'. £19,421). No accrual has been made for holiday pay at the year-end as there were no material amounts due. Page 10
Reign Ministries Notes to the financial statements For the year ended 31 August 2024 8. Tangible fixed a55ets Fixture5, Property fittings and improvements equipment Land and buildings Total C05t At I September 2023 373,875 2,658 2,487 379.020 At 31 August 2024 373,875 2,658 2,487 379.020 Depreciation At I September 2023 Charge for the year 798 266 2,205 141 3,003 407 At 31 August 2024 1.064 2,346 3.410 Net book value At 31 August 2024 373,875 1,594 141 375,610 At 31 August 2023 373,875 1,860 282 376,017 The property owned by the charity is the office premises at 43 London Road. Bicester and comprises an office, an open meeting space and a self-contained flat. 9. Debtors General Restrlrted funds funds General funds Restricted funds 2024 2023 Trade debtors Prepayments and accrued income Other debtors 2.550 5.810 1.015 9.375 2.550 5.810 1.015 9.375 2,CK)2 720 5,560 8,282 2,002 720 5,560 8,282 10. Creditors: falllng due within one year General Restrirted funds funds General funds Restricted funds 2024 2023 Deferred income Accruals Taxation and social security 1.675 1.385 493 1.675 1.385 493 1,000 118 1,000 118 3.553 3.553 1,118 1,118 Page 11
Reign Ministries Notes to the financial statements For the year ended 31 August 2024 11. Funds movements Current year Balance at I Sept 2023 Bolance at Transfer5 31 Aug 2024 Income Expenditure Unrestricted funds Gener31 fund Designated assets fund 122.685 376.017 85.935 1106.2901 14071 102,330 375.610 Total unrestritted funds 498,702 85,935 1106,6971 477,940 Restricted funds Resources project fund C Staff support fund 8.228 2,160 13,515 110,3881 113,5151 Total restrirted funds 8.228 15.675 123.903) Total charity funds 506.930 101.610 1130.6001 477.940 Prior year 8alance ot I Sept2022 Balonce ut Transfers 31 Aug 2023 Income Expenditure Unrestrirtedfvnds General fund Designated assets fund 126,544 376.424 139,677 (143,536) {407) 122,685 376,017 502.968 139,677 (143,943) 498, 702 Restrirtedfunds Resources projectfund Staff conferencefurjd C Staff supportfund D Staff supportfund 660 392 30,857 787 12.899 3,451 (23,289) fl,179) 112,899) (3,451) 8,228 1.052 47.994 {40.818J 8,228 Total charityfvnds 504,020 187.671 (184, 761) 506,930 Explanation of funds Unrestrirtedfvnds.. The Generolfund represents all income and expenditure relating to the primary focus activities of the charity, other than those for which funding is designated or restricted. The Designated ossetsfund holds the fixed assets of the Charity separately from the liquid assets. RestrirtedAunds.' 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 Staff conferencefund represents funding received towards an annual staff retreat and associated costs. The Staff supportfunds 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 tax and national insurance. Page 12
Reign Ministries Notes to the financial statements For the year ended 31 August 2024 12. Operating leases At 31 August 2024, the Charity held two operating leases as the lessor- The office space in Bicester 15 let directly. A 2 year lease agreernent expired on 31 August 2024 and 15 continuing now on a month to month basis. 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 is not let and the agreement can be terminated with 3 month's notice. 13. Pension commitments The Charity operates an avto-enrolment pension scheme with Smart Pension Limited for all eligible employees. Employer contributions to the scheme are disclosed in note 8. 14. Trustee and related party transartions There wa5 no remuneration paid to Trustees during the year ended 31 August 202412023.. nill. Total expenses of £124 were paid to one Trustee for travel12023.' nil) and £53 were paid to one Trustee for refreshments at the AGM12023- £391. Matt Bodinham, the son of trustee Jenny Bodinham. is employed by the Charity and received remuneration of £5,70712023'. £5,421) in the year. Unrestricted donations of £28912023- £9411 were received by the Charity from Trustees and related parties. No restricted donations were made to support staff members by Trustees and related parties12023- £1,291). 15. Volunteers We have 6 volunteers who support the Charity through spectfic roles and responsibilities in coaching or advisory capacities. There are up to a further 10 volunteer5 that have assisted at charity events on an ad hoc basis. Page 13