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2021-09-30-accounts

Charity registration number 1158062

DAVID'S TENT

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

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
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 2021

The trustees present their report and accounts for the year to 30 September 2021.

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 trust deedthe 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”, “DT19" and “DT21" held at the Wiston Estate in West Sussex.

Public benefit

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 continues to achieve its goals and objectives by regularly gathering Christian worshippers across all denominations of the Body of Christ. Our Bi-monthly regional worship nights across the UK 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.

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 surplus for the year of £158,195 (2020: Deficit of £112,684). 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 2021

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

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

07072022 Date: .............................................

DAVID'S TENT

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 SEPTEMBER 2021

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 lo the tru8tees on my examination of the financial statements of David's Tent Ilhe charity) for the year ended 30 September 2021. Respon6lbllltl•• and baals of r•port AS the trustees of the charity you are responsible for the preparation of the financial statements in a￿OrdanCe wlth the requirements of the Charities Act 2011 {the 2011 Act). l T8POrt in respect of my ex8minalion of the ehority's financial gtalemenl8 carried out under section 145 of the 2011 Act. In carying out my examination I have followed all tho applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Ind•p•nd•nt •xamlngrf¥ •tat•mont Since the charity's gross income exceeded £250,000 your examiner musl be a member of a b¢xly listed In section 14S of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of The Association of Chartered Certth'ed Accountants, whlch is one of thè listed bodies. Your attention is drawn lo the fact that the charity h88 prepared financial slalemenls in aecordance with Accounb'ng and Rèporting by Charitie8 preparing their accounts in accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the ArLounling and Reporting by Chaiilies". Statement of Recommended Practice issued on 1 April 2005 which 18 referred to in the exlanl regulations bul h88 now b8en wilhdiawn. l understond that thi8 has been done in order for financial slalements lo provide a true and fair view in 8ccordance with Geneially Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have compl8led my examination. l Confim that no matter8 have come lo my attention in ¢onnection with the examination giving ma cause to believe that in any malefial re8P8Ct". gccounling records were not k•pl in respect of the charity as required by section 130 01 the 2011 Act.. ar the financial statements do not accord with those records,. or the financial statements do not comply wllh the applicable requlremenls concerning thè form and content of accounts sel out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which ig not o matter considered as part ol an independent examinatson. I have no concems and have come across no other m8tteTs in connection with the examination to which allenlion should be drawn in this report in order lo enable a pioper understanding of the financi81 statemen18 to be reached. Colln Dad8well FCA ACCA OChA Caladine Limited Chantry House 22 Upperton Road Ea8lbourne Ea51 Sussex BN21 1BF Dated.. 1110111011

DAVID'S TENT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2021

Unrestricted Unrestricted Unrestricted
funds funds
2021 2020
Notes £ £
Income from:
Donations and legacies 3 71,023 31,332
Charitable activities 4 571,252 45,933
Other trading activities 5 60,439 2,367
Total income 702,714 79,632
Expenditure on:
Raising funds 6 30,464 7,851
Charitable activities 7 514,055 184,465
Total expenditure 544,519 192,316
Net income/(expenditure) for the year/
Net movement in funds 158,195 (112,684)
Fund balances at 1 October 2020 (117,975) (5,291)
Fund balances at 30 September 2021 40,220 (117,975)

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 2021

2021 2020
Notes £ £ £ £
Current assets
Trade and other receivables 12 10,293 42,437
Cash at bank and in hand 60,395 14,088
70,688 56,525
Current liabilities 13 (30,468) (174,500)
Net current assets/(liabilities) 40,220 (117,975)
Income funds
Unrestricted funds 40,220 (117,975)
40,220 (117,975)

07072022

The financial statements were approved by the Trustees on .........................

.............................. ..............................
Mr R D Sandor Mr R D Mumford
Trustee Trustee

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

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

At the time of approving the financial statements, 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 financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 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.

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

1 Accounting policies (Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

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.

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.

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

1 Accounting policies (Continued)

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 2021

3 Donations and legacies

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2021 2020
£ £
Donations and gifts 71,023 31,332
Donations and gifts
Donations and gifts 66,062 28,514
Gift aid refunds 4,961 2,818
71,023 31,332
Charitable activities
2021 2020
£ £
Ticket sales 458,377 9,958
Camping fees 97,585 -
Coronavirus Job Retention Scheme Grants 4,281 35,850
Other income 11,009 125
571,252 45,933

4 Charitable activities

5 Other trading activities

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Merchandise 7,027 2,367
Café and catering vans 49,604 -
Shop income 3,808 -
Other trading activities 60,439 2,367

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

6 Raising funds

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Fundraising and publicity
Website and marketing 15,771 7,851
Trading costs
Merchandise costs 3,307 -
Café and catering van costs 11,386 -
Trading costs 14,693 -
30,464 7,851

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

7 Charitable activities

2021 2020
£ £
Staff costs 38,200 88,535
BCDO Production and marquee hire 175,526 (55)
Artists' costs 43,634 859
Campsite costs 37,048 -
Catering 23,882 -
Event management 13,945 1,530
Travel and vehicle hire 25,164 8,717
Security, health and safety 7,408 3,324
Venue hire 47,420 9,928
Filming - 474
Subsistence 699 652
Volunteer Tshirts 2,496 -
Waste management 7,380 (267)
Licences for performance rights 700 -
Wristbands and other sundry conference costs 11,226 298
Worship nights - 7,815
434,728 121,810
Grant funding of activities (see note 8) 18,317 48,499
Share of support costs (see note 9) 23,644 9,284
Share of governance costs (see note 9) 37,366 4,872
514,055 184,465

8 Grants payable

2021 2020
£ £
Grants to institutions:
Open Doors Network - 1,200
- 1,400
DT US 18,317 45,899
18,317 48,499

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

9 Support costs
Support
Governance		 Total Support
Governance		 Total
costs costs 2021 costs costs 2020
£ £ £ £ £ £
Paypal fees and bank
charges 2,777 - 2,777 41 - 41
Insurance 4,807 - 4,807 - - -
Eventbrite fees and
ticket sales and costs 10,644 - 10,644 6,552 - 6,552
Internet and software
costs 5,361 - 5,361 2,602 - 2,602
Printing, postage and
stationery 55 - 55 89 - 89
Accountancy and
independent
examination charges - 1,903 1,903 - 1,377 1,377
Partial Exemption VAT
profit and loss - 35,463 35,463 - 3,495 3,495
23,644 37,366 61,010 9,284 4,872 14,156
Analysed between
Charitable activities 23,644 37,366 61,010 9,284 4,872 14,156

10 Trustees

Except as disclosed in note 15 'Related Party Transactions,' none of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

The total aggregate unrestricted donations received from the Trustees during the year was £1,600.

11 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Administration 2 3
Employment costs 2021 2020
£ £
Wages and salaries 36,331 81,914
Social security costs 28 4,164
Other pension costs 1,084 2,457
37,443 88,535

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

11 Employees (Continued)

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

12 Trade and other receivables
2021 2020
Amounts falling due within one year: £ £
Trade receivables 1,600 31,900
Other receivables 8,693 -
Prepayments and accrued income - 10,537
10,293 42,437
13 Current liabilities
2021 2020
Notes £ £
Other taxation and social security 405 4,656
Deferred income 14 2,863 163,239
Other payables 14,567 4,505
Trade payables and accruals 12,633 2,100
30,468 174,500
14 Deferred income
2021 2020
£ £
Arising from Advance Ticket Sales 2,863 163,239
15 Related party transactions
Remuneration of key management personnel
2021 2020
£ £
Aggregate compensation 17,810 41,073

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

15 Related party transactions (Continued)

A total of £5,009 (2020: £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 (2020: £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.

A total of £370 (2020: £0) was paid to Sarah Rudd, a Trustee as re-imbursement of travel and accommodation expenses in relation to her work as a volunteer.