OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-09-30-accounts

Charity Registration No. 1158062

DAVID'S TENT

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

DAVID'S TENT

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr R D Sandor Mr J P Buhler Mr E Sandor Mr R D Mumford Ms S Rudd (Appointed 21 November 2019) Charity number 1158062 Principal address The Gatehouse 1 Market Square Royal Victoria Place TUNBRIDGE WELLS Kent TN1 2SW Independent examiner Colin Dadswell FCA ACCA DChA Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF Bankers Reliance Bank Faith House 23-24 Lovat Lane London United Kingdom EC36 8EB

DAVID'S TENT

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent examiner's report 4
Statement of financial activities 5
Statement of financial position 6
Notes to the financial statements 7 - 15

DAVID'S TENT

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2020

The trustees present their report and accounts for the year to 30 September 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constitution, 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) (effective 1 January 2019)".

Objectives and activities

The objects of the charity are:

The Charity achieves these objects by

  1. Holding public worship services and prayer meetings on a regular basis in London and key cities around the UK

  2. Supporting public worship and praise, in particular through music, dance and the arts through these services and conferences.

  3. Providing educational and evangelistic conferences, meetings and festivals like our summer conferences “DT14”, “DT15”, “DT16”, “DT17”, “DT18” and “DT19" held at the Wiston Estate in West Sussex. DT20 was scheduled for the summer of 2020 but cancelled due to the pandemic.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

David’s Tent aims to achieve its goals and objectives by gathering Christian worshippers across all denominations of the Body of Christ. We will resume Our Bi-monthly regional worship nights across the UK in October 2021, these gather an average of 450-500 people each time. David’s Tent continues to develop a Christ centered culture of community by developing leaders in our regular trainings and annual retreat. David’s Tent also puts a strong emphasis on developing musicians through our semi-annual musicians’ retreats. At each of these events people are encouraged to live out their Christian faith through a lifestyle of worship that promotes peace, vision, hope and love. The biggest of our achievements is our annual festival which gathered over 6,000 people in 2019. Here people are able to express themselves through art, dance, prayer, worship and enjoy community, teaching, celebration, encouragement and an atmosphere of hope. We will safely resume the festival in the summer of 2021.

Volunteers

David's Tent thrives because we have so many outstanding volunteers who give up their time to invest into David's Tent. Over 55,000 hours of volunteer service have been donated to date. Without this valuable contribution David's Tent would not be able to succeed.

Financial review

The charity recorded an overall deficit for the year of £112,684 (2019: Surplus of £790). All funds were unrestricted.

David's Tent is funded primarily through the sale of conference tickets and through donations which fund the ongoing work of the trust (public Prayer and worship gatherings) throughout the year.

Any reserves are invested back into the trust or held for future payments that will be required for our larger conferences. David's Tent carried forward accruals which didn't allow for reserves.

DAVID'S TENT

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity was registered as a Charitable Incorporated Organisation (CIO) on 30 July 2014 and is governed by its Constitution.

The trustees who served during the year and up to the date of signature of the financial statements were:

Mr R D Sandor Mr J P Buhler Mr E Sandor Mr R D Mumford Ms S Rudd (Appointed 21 November 2019)

Trustees are appointed by a majority vote of the existing trustees. Suitable training is provided.

The trustees' report was approved by the Board of Trustees.

Mr R D Mumford

Trustee Dated: 14 September 2021

DAVID'S TENT

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 SEPTEMBER 2020

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DAVID'S TENT

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF DAVID'S TENT

I report to the trustees on my examination of the financial statements of David's Tent (the charity) for the year ended 30 September 2020.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

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 now been withdrawn.

I understand that this has been done in order for 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.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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

Colin Dadswell FCA ACCA DChA

Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

Dated: 14 September 2021

DAVID'S TENT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2020

Unrestricted Unrestricted Unrestricted
funds funds
2020 2019
Notes £ £
Income from:
Donations and legacies 3 31,332 33,803
Charitable activities 4 10,083 581,176
Other trading activities 5 2,367 61,374
Other income 6 35,850 -
Total income 79,632 676,353
Expenditure on:
Raising funds 7 7,851 61,964
Charitable activities 8 184,465 613,599
Total resources expended 192,316 675,563
Net (expenditure)/income for the year/
Net movement in funds (112,684) 790
Fund balances at 1 October 2019 (5,291) (6,081)
Fund balances at 30 September 2020 (117,975) (5,291)

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

DAVID'S TENT

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2020

2020
Notes
£
Current assets
Trade and other receivables
13
42,437
Cash at bank and in hand
14,088
56,525
Current liabilities
14
(174,500)
Net current (liabilities)/assets
Non-current liabilities
15
Net liabilities
Income funds
Unrestricted funds		 £
(117,975)
-
(117,975)
(117,975)
(117,975)		 2019
£
34,273
12,296
46,569
(41,318)		 £
5,251
(10,542)
(5,291)
(5,291)
(5,291)

The financial statements were approved by the Trustees on 14 September 2021

Mr R D Sandor Mr R D Mumford Trustee Trustee

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

1 Accounting policies

Charity information

David's Tent is a charitable incorporated organisation governed by a constitution dated 24 July 2014. The principal address is The Gatehouse, 1 Market Square, Royal Victoria Place, Tunbridge Wells, Kent, TN1 2SW.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's constitution, 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 charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts 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.

1.2 Going concern

The circumstances around Covid 19 have impacted the charity significantly in that we had to cancel and reschedule our annual festival and other worship events scheduled for 2020. The negative financial effect on the charity resulted in staff being furloughed and a major focus on cutting costs.

At the date of signing the accounts, 5% of ticket sales for the 2020 event received after the year end have been refunded with the remaining 95% of delegates deferring their ticket purchases to the 2021 event. In preparation for the now cancelled 2020 event, the charity incurred £120K of costs which it is unable to recover. As a result of this, the financial result for the year shows a significant deficit and increased negative reserves. The benefit of holding monies for advance ticket sales for the 2021 event is that it provides the charity with cash flow and breathing space to plan a way through the current situation.

Due to the lifting of restrictions the 2021 event is able to go ahead in August 2021. In planning for the event, the Trustees have cut over £80k from the budgeted costs for 2021. The charity has made use of the furlough scheme and also has the option of taking a loan from the bank if cash flow is required.

In order to secure the future of Davids Tent, the organization made redundancies and was run almost entirely on a volunteer basis until sufficient revenue was generated from online resources, grants, donations and 2021 ticket sales for staff to be employed. Taken together, these cost savings should result in a significant surplus in the year to 30 September 2021 which should reverse much of the overdrawn reserves position.

Given the above, at the time of approving the accounts, the trustees 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 accounts.

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

1 Accounting policies (Continued)

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 Income

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.

Ticket sales for events beyond the year end date are deferred to the balance sheet.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Resources are expended in the period in which they are incurred and allocated to the particular cost centre to which they relate.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

1 Accounting policies (Continued)

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

3 Donations and legacies

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2020 2019
£ £
Donations and gifts 31,332 33,803
Donations and gifts
Donations and gifts 28,514 31,930
Gift aid refunds 2,818 1,873
31,332 33,803
Charitable activities
2020 2019
£ £
Ticket sales 9,958 517,611
Camping fees - 62,460
Other income 125 1,105
10,083 581,176

4 Charitable activities

5 Other trading activities

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Merchandise sales 2,367 12,341
Café and catering vans - 45,090
Shop income - 3,943
Other trading activities 2,367 61,374

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

6 Other income Other income
Unrestricted Total
funds
2020 2019
£ £
Job Retention Scheme 35,850 -
7 Raising funds
Unrestricted Unrestricted
funds funds
2020 2019
£ £
Fundraising and publicity
Website and marketing 7,851 38,239
Trading costs
Merchandise costs - 12,223
Café and catering van costs - 11,502
Trading costs - 23,725
7,851 61,964

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

8 Charitable activities

Staff costs
BCDO Production and marquee hire
Artists' costs
Campsite costs
Catering
Event management
Travel and vehicle hire
Security, health and safety
Venue hire
Filming
Subsistence
Volunteer Tshirts
Waste management
Licences for performance rights
Wristbands and other sundry conference costs
Worship nights
Grant funding of activities (see note 9)
Share of support costs (see note 10)
Share of governance costs (see note 10)		 2020
£
88,535
(55)
859
-
-
1,530
8,717
3,324
9,928
474
652
-
(267)
-
298
7,815
121,810
48,499
9,284
4,872
184,465		 2019
£
74,972
165,227
77,693
13,392
19,916
25,843
22,424
1,200
42,908
27,413
11,084
2,704
6,839
9,795
2,371
11,229
515,010
29,404
33,727
35,458
613,599

9 Grants payable

Grants to institutions:
Open Doors Network
Coastline Vineyard Church
DT US
Christ Church Clifton
Grants to individuals		 2020
£
1,200
1,400
45,899
-
48,499
-
48,499		 2019
£
2,400
2,400
23,364
200
28,364
1,040
29,404

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

10 Support costs

Support
costs
Governance
costs
£
£
Paypal fees and bank
charges
41
-
Insurance
-
-
Eventbrite fees and
ticket sales and costs
6,552
-
Internet and software
costs
2,602
-
Supplies
-
-
Printing, postage and
stationery
89
-
Accountancy and
independent
examination charges
-
1,377
Partial Exemption VAT
profit and loss
-
3,495
9,284
4,872
Analysed between
Charitable activities
9,284
4,872		 Total
2020
Support
costs
Governance
costs
£
£
£
41
1,145
-
-
5,417
-
6,552
18,465
-
2,602
8,223
-
-
7
-
89
470
-
1,377
-
2,605
3,495
-
32,853
14,156
33,727
35,458
14,156
33,727
35,458		 Total
2019
£
1,145
5,417
18,465
8,223
7
470
2,605
32,853
69,185
69,185

11 Trustees

Except as disclosed in note 17 'Related Party Transactions,' none of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

12 Employees

The average monthly number of employees during the year was:

2020 2019
Number Number
Administration 3 3
Employment costs 2020 2019
£ £
Wages and salaries 81,914 69,944
Social security costs 4,164 3,191
Other pension costs 2,457 1,837
88,535 74,972

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

12 Employees (Continued)

There were no employees whose annual remuneration was £60,000 or more.

13
Trade and other receivables
Amounts falling due within one year:
Trade receivables
Other receivables
Prepayments and accrued income
14
Current liabilities
Notes
Other taxation and social security
Deferred income
16
Other payables
Trade payables and accruals
15
Non-current liabilities
Notes
Deferred income
16		 2020
£
31,900
-
10,537
42,437
2020
£
4,656
163,239
4,505
2,100
174,500
2020
£
-		 2019
£
5,980
28,293
-
34,273
2019
£
1,911
-
37,307
2,100
41,318
2019
£
10,542

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020

16 Deferred income

Arising from Advance Ticket Sales 2020
£
163,239		 2019
£
10,542
2019
£
-
10,542
Deferred income is included in the financial statements as follows:
Current liabilities
Non-current liabilities		 2020
£
163,239
-
163,239
10,542

17 Related party transactions

Remuneration of key management personnel

2020 2019
£ £
Aggregate compensation 41,073 43,135

A total of £0 (2019: £1,685) was paid to Tiffany Buhler, wife of Trustee Justin Buhler in relation to event management and travel and accommodation costs.

A total of £0 (2019: £920) was paid to Debbie Mumford, wife of Trustee Richard Mumford as reimbursement of travel and accommodation expenses in relation to her work as a volunteer.

During the year donations of £4,070 were received from Trustees and related parties.