Company No. 10754427 Charity No. 1174882 Church Revitalisation Trust (A Charitable Company Limited By Guarantee) Trustees. Report and Financial Statements For the year ended 31 December 2022
Church Revitalisation Trust Financlal statements forthe year ended 31 December 2022 Contents Page Trustees, annual report Independent auditor's report 9-12 Statement of f inancial activities 13 Balance sheet 14 Statement of cashflows 15 Notes to the financial statements 16-26
CHURCH REVITALISATION TRUST Trustees, Annual Report for the year ending 31 December 2022 Reference and administrative information The registered name of Charity is The Church Revitalisation Trust ICRTI. Company number.. 10754427 Charity Registration Number: 1174882 Principal and Registered Office.. Holy Trinity Brompton, Brompton Road, London, SW7 IJA. Trustees.. Adebimpe Nkontchou IAppointed 4 May 20221 Ademola Adebajo (Treasurer) Angus Winther Reverend Archie Coates Harry Lawson Johnston Jeremy Herrmann Nichola Pease Reverend Naomi Maxwell (Appolnted 7 March 20221 Sir Paul Marshall Toby Baxendale Tricia Neill (Resigned 6 June 20221 Reverend Nicky Gumbel (Resigned 31 August 20221 Company Secretary.. Mr Jon Shippen Bankers.. National Westminster B3nk PLC, 18 Cromwell Place, London, SW7 2LB Auditor.. Moore Kingston Smith LLP, 9 Appold Street. London, EC2A 2AP Objectives and actlvities The Church Revitalis3tion Trust was incorporated on 4 May 2017 in orderto further the church planting activity undertaken by Holy Trinity Brompton IHTBI. The charity's objectives, as laid out in its governlnE document, are the advancement of the Christian religion through the establishment, renewal and revitalisation of churches within the Anglican communion, and any such other churchlesl or denominationlsl approved by special re501ution of the Members, and the maintenance of the services and activities therein. The charity's objects were amended by special resolution on 18 Aug 2020 to include the relief of hardship and distress of individuals who, by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances are in need and require support in such ways as are exclusively charitable, including but not exclusively by providing grants, counselling and support services, facilities and education. CRT aims to fulfil its vision for church revitalisation primarily by recruiting and training leaders and planting Resource Churches in cities and towns across the country, and supporting the ongoing planting of churches from those already established, as well as providing ongoing training and support for those churche5 and their leaders. The aim is that Resource Churches can help resource and facilitate further planting within their diocese, particularly into areas of social deprivation, and thereby help transform the communities and cities which they serve. CRT aims to address the problems of hardship and distress through its social action initlative called Love Your Neighbour. Love Your Neighbour draws on its extensive network of churches.
CHURCH REVITALISATION TRUST Trustees, Annual Report forthe year ending 31 December 2022 philanthroplsts and charitable contacts to bring together churches, charitie5 and organisations with a common purpose in providing support to the most vulnerable in their communities through the provision of service5 including those of crisis response (including food provisionl, debt advice, employment support and wrap around care. Achievements and Performance CRT'S principal achievements in 2022 were a5 foSlows'. l. A total of 24 new church plants within the HTB Network were supported by CRT. Resourte Churches were planted in Torbay, Leatherhead and Basingstoke. 2. A total of 11 planting curates were recruited and are currently undergoing training at HTB or at London Network churches. 3. The Accelerator Programme, a one-year training programme for planting curates, was run for a cohort of 241eaders and their teams which included a new 'Estates Plantin¢ stream for planting into housing estates and areas of high deprivation. 4. 22 'Peter Stream, candidates, representing educational, social and ethnic diversity for future ordained leaders, were recruited and are enrolled on a one-year training and support programme in partnership with St Mellitus College with a view to this leading to selection for ordination within the Church of England. 5. A new pilot discernment and leadership training initiative was launched with a cohort of 12 in partnership with the Church of God of Prophecy and St Mellitus College. 6. A new initiative for the recruitment and training of potential ordination candidates from an older demographic with a particular focus on rural parish min15try, the 'Caleb Stream,, in partnership with St Mellitus College, entered its second year with a cohort of 27. 7. A number of retreats and training events were run for leaders and teams from across the HTB Network. 8. Love Your Neighbour, which was established as a rapid response to the COVID-1g pandemic in 2020, has developed and evolved into a wider social transformation Inltiative which draws together hundreds of churches and charitable organisations in the provision of crisis support. debt advice, employment support and wrap-around care, serving the most vulnerable in their ommunities. 9. In 2022 Love Your Neighbour launched its pilot Hub Accelerator programme to advance the social transformation mission, strategy and operation5 of 16 church-based Hubs, delivered over a 100-hour, 7-month programme, gaining acces5 to knowledge and experience from guest speakers and churches of varying backgrounds located across the UK. 10. In April, Love Your Neighbour launched 'Love Ukraine, in order to support Ukrainians looking to come to the UK through the Government's Homes for Ukraine scheme by matching them with Christian families, supporting visa applications, and logistically and f inancially helping Ukrainiarns get to the UK. Additionally, matching-funded grants were deployed to support Hubs, wrap-around care for Ukrainians, including community meals, English classes, employment support and emergency arrival integration support. 11. Love Christmas 2022 saw over 1,000 churches and orEani5ations across the UK reach 240,000 people with bags of kindness. Churches held over 547 packing and delivery sessions and reported a 43% increase in the number of volunteers and a 29% increase in local partnership compared to 2021.
CHURCH REVITALISATION TRUST Trustees, Annual Report for the year ending 31 December 2022 Plans for future periods CR T's principal plans for 2023 are as follows- I. To support a number of new church plants 120+1 planned for 2023 from within the HTB Network across the country, many going into areas of high deprivation. 2. A further 10 planting curates to be recruited and to undergo training. 3. The Accelerator Programme will be run with a new cohort of planting leaders including the new 'Estates Plantinl stream as well as a number of other new streams for staff team roles lyouth workers, operation5 managers, worship leadersl. 4. In partnership with St Paul's Theological Centre we aim to recruit and sponsor between 50-80 new 'Peter Stream, and 'Caleb Stream, candidates who will embark on a year of ordination discernment and theological and life skills training. 5. A new 2-day in-person learning community I"Transform'l will be run twice a year for the leaders of HTB Network churches and their core team, with a number of leading practitioners and facilitators from around the world contributing. 6. Grants will be awarded to HT8 Network churches to support strategic growth, building redevelopment and social action projects, as well as seed capital grants for new plants. 7. Focus, the annual lonE weekend away for the HTB Network congregations, will take place in July with an expected 9,000 attendees, now fully managed and administered by CRT. 8. Build on the success of Love Your Neighbour as it further transition5 from an urgent response to critical needs I'hand out'l to an established and more sustained and holistic offering I'hand up, and 'hand on'l. 9. Love Your Neighbour to further develop its'Hub Acceleratorf social action training programme with a new cohort of 10 Hub thurches, as well as further develop churches. social transformation, local partnerships, volunteer mobilisation, and interconnectedness, and to expand its annual Love Christmas 'Bags of Kindness, campaign. 10. Love Your Neighbour will continue Love Ukraine, originally an emergency response to the war in Ukraine, specifically supporting Ukrainians looking to come to the UK through the Homes for Ukraine scheme as well as equipping churches to provide ongoing wrap-around care to Ukrainians upon arrival and for as long as needed. Financial Review Following a number of successful grant and funding applications, as well as Focus ticket sales, CRT generated income of £11.2m compared to £4.4m in 2021. Included in the 2022 Income figure is £l.Im pertaining to Focus ticket sales, as a result of Focus being fully managed and administered by CRT in 2022. Total expenditure for 2022 came to £7.8m12021.. £5.7ml, resulting in a surplus for the year of £3.4m 12021 deficit.. £1.3ml. The 2022 surplus consists of £3.2m restricted funds to be Spent in 2023, leaving a surplus on general funds of £0.2m. As a result CRT ended the year with a closing balance on unrestricted funds of £1.9m12021.. £1.7ml. Policy on reserves The policy of the charity is not to build up excess reserves, and wherever possible to expend income received during the course of each financial year on its purposes. However, in order to ensure that the charity is able to manage its operational cashflow needs, the trustees aim to hold working capital sufficient to cover at least three months, committed costs.
CHURCH REVITALISATION TRUST Trustees, Annual Report for the year ending 31 December 2022 The reserves target based on the approved 2023 budget is therefore £1.8m. Free reserves at 31 December 2022 were £1.9m 12021.. £1.7ml, which slightly exceeds the target. The trustees are comfortable with reserves at this level. Flexibility wlll be maintained over the level of reserves required to enable the charity to respond to the risks it is facing at any particular time. Fundraising The trustees are committed to maintaining the highest legal and ethical standards in the way the charity undertakes its fundraising activities. All fundraising takes place in-house, and the charity does not use any professional fundraisers or commercial participators. CRT is committed to abiding by the Code of Fundraising Practice and to the Fundraising Promise. CRT takes precautions to ensure the protection of the public, including vulnerable persons, from unreasonably intrusive or persistent fundraising approaches and undue pressure to donate. Our fundraising team take seriously any expression of dissatisfaction we receive regarding our fundraising practice and aim to resolve any complaints as quickly as possible. Our policy is to escalate the issue internally to the Chief Executive Officer. If the complaint cannot be resolved, it will be further escalated to the chair of our board of trustees, who will nominate an independent member of the board of trustee5 to consider the merits of the complaint and any resulting actions. If necessaryi we will contact the Charity Commission for advice and guidance. No complaints of this nature relating to fundraising were received in 2022. CRT has responded to the General Data Protection Regulation IGDPRI, introduced May 2018, and continues to monitor the use of data carefully, particularly concerning donor data for fundraising purpose5. Our Privacy Policy tovers how we use donor data, and gives donors the option to opt out of any contact or make a formal complaint. We carefully monltor the relationships we have with donors and seek to maintain a consistent means of stewardship b35ed on the guidance of the Code of Fundraising Practice and the Fundraising Promise. Structure• governance and management Church Revitalisation Trust is a charitable company limited by guarantee and not having a share capital. It was registered as a company on 4 May 2017 and with the Charity Commission on 28 September 2017. Procedures for the recruitment and appointment of trustees are laid out in the memorandum and articles of association. Trustees nominate new or replacement trustees with approval by the members. The trustees are also directors for the purpose of Company Law. New trustees are provided with guidance notes explaining their role and responsibilities as trustees of the charity. All new trustees are fully briefed on the activitie5 and vision of CRT, and they pursue the independent interests of the charity notwithstandlng their separate responsibilities in other organisations. Weekly management team and general staff meetings deal wlth the day to day issues arising. An executive committee meets as and when needed to deal with wider strategy, finance and staff appointment issues arising between board meetings. The board meet 3 minimum of three times a year. Remuneration Policy, Principles and Governance We place great value on our highly talented, dedicated and passionate staff team, without whom we could not deliver against our vision, mission and goals. Our remuneration policy is aimed at ensuring that pay is competitive within our sector, rewards staff fairly and enables the staff team to feel valued.
CHURCH REVITALISATION TRUST Trustees, Annual Report forthe year ending 31 December 2022 Our principle is to reward staff, irrespective of seniority, informed by the following.. Fairness,. wlthout discrlmination and with an intention of cross-entity parity Differentiation,. to reflect a combination of what is achieved and the way in which it is achieved Compliance,. to all HMRC and Charity Commission requirements Affordability,. with good stewardship In line with at least the London Living Wage for London-based staff and the Real Living Wage for UK regionally-based staff The HTB Group entities IHTB, Alpha International IAII, the Church Revitalisation Trust ICRTI and St Paul's Theological Centre ISPTCI operate in close co-operation and within a shared operating model, including a common approach to pay and benefits for all staff employed within the group entities. The HTB Group Remuneration Committee I"Group RemCo"l is a joint sub-committee of the HTB PCC and the CRT and SPTC boards, and includes representatives from each. Alpha International ha5 Its own Global Remuneration Committee (Global Remcol. In order to maintain a unif led approach, Group and Global Remco interface through the HTB Group COO who sits on both committees. Authority has been delegated by each of the entity boards to the relevant Group and Global Remco, to oversee remuneration on behalf of each board whilst acting withln the group remuneration framework. Relationships and Related Parties Details of related parties are given in note 14 of the financial statements. Trustees, Responsibilities Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of the charit¢s affair5 and of the surplus or deficit for that year. In preparing these financial statements the trustees are required to.. select suitable accounting policies and then apply them conslstently,. comply with applicable accounting standard5, including FRS 102, subject to any material departures disclosed and explained in the financial statements,. state whether a Statement of Recommended Practice150RPI applies and has been followed, Subject to any material departures which are explained in the financial statements make judgements and estimates that are reasonable and prudent,. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records whith disclose, with reasonable accuracy at any time, the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. 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. Each of the trustees at the date of approval of this report confirms that.. So far as the trustees are aware, there is no relevant audit information of which the charity's auditors are unaware,. and The trustees have taken all the steps that they ought to have taken as trustees to make themselves aware of any relevant audit information and to establish that the charitqs auditors are aware of that information.
CHURCH REVITALISATION TRUST Trustees, Annual Report for the year ending 31 December 2022 The trustees are committed to malntaining the highest legal and ethical standards in the way the charity undertakes its fundraising activities. CRT is committed to abiding by the Code of Fundraising Practice and to the Fundraising Promise. CRT has appointed external consultants to provide staff training, advise the charity on fundrai5inE matters relating to data protection and to help promote best practice within the charity. Public Benefit The trustees are aware of the Charity Commission's guidance on public benefit in Yhe advancement of religion for the Public Benefit" and 'Public benefit: running 3 charity IPB21," and have had regard to it in their administration of the charity. The trustees believe that CRT provides a benefit to the public by: Providing trained leadership and facilitating physical space for the administration of public worship, pastoral care and Spiritual development, both for existing church members and for anyone who wishes to benefit from what the church offers,. Promoting Christian values, and service by members of the church in and to their commLJnities. to the benefit of individuals and Society as a whole- and Promoting the establishment and running of social action programmes, to the benefit of those in need and on the margins of society,. including but not limited to the homeless, the unemployed, and those struggling with povertyi debt or addiction. Risk Management The trustees have conducted a review of the major risks to which the charity 15 exposed. A risk register has been established and is updated at least annually. Where appropriate, systems and procedures have been established to mitigate the ri5k5 that the charity faces. Procedures are in place to ensure compliance with health and safety of staff, volunteers and visitors. The schedule of major risks and mitigations identified by the board is set out on pages 7 and 8. This report was approved by the board on the 24, April 2023 and signed on its behalf by The Reverend R.M. Coates, Chair of the board of trustees
CHURCH REVITALISATION TRUST Trustees, Annual Report forthe year ending 31 December 2022 Major Risks and Uncertainties Potential Risk Loss of confidence bv stakeholders due to the behaviour of senior leadership or staff rnember5. Reputation of CRT is damaged by actions of church plants or their leaders. Safeguarding incident arises in a church plant or HT8 Network church related to CRT. Harm comes to visitors or staff due to laek of appropriate and compliant Health & Safety procedures. Mitigation Organisational values are clearly defined and regularly cornrnunitated. Prayer and worship are central to life at CRT. Oversight and governance structures are in place for senior leaders and staff. CRT seeks to maintain c105e relation5hlps with church plant leaders and to provide ongoing training and support to them. Church plants fall under the authority of their respective diocese, each of which has robust safeguarding policies and officers in place in line with official Church of En land safe uardin olicy. Internal and external H&S advisors monitor and report on risk areas identified. Regular H&S reporting takes place at senior management and Board meetings. Staff training in key H&S procedures is ongoin8. Future of the organisation jeopardised due to lack of adequate succession plannin8 for key senior roles. Succe55ion planning Is under contSnual review for key senior roles in the organisation. Recent smooth and successful transition to 3 new Vicar tsf HTB. CRT maintains a close working relationship with HT8, whlch has a large staff team. Board meetings and structures are compliant with Charity Comrnission requirement5. Care is taken to ensure that each group entity has a suitable number of independent trustees. Conflicts of interest are handled appropriately, approved by the BoaTd, and fully disclosed in the Annual Accounts. Poor decislon-making and breach of Tegulatory requirements due to weak or non-compliant governance structures. Inability to operate In the event of a disaster due to lack of adequate business continuity planning. Business continuitv compromised or critical data lost through cyber-attack. Cyber security risks continue to increase rapidly wlth changes In technology, creating risk of data security breaches, irnpacting our ability to operate and potential 5i8nificant financial loss. Lack of sufficient income and/or inadequate cashflow results in an inability to meet salary and creditor payment5. Significant investment has been made In upgrading digltal and technology systems, including moves to largely cloud-based 5yStem5 which has increased resilience. We demonstrated durin8 the pandemi our ability to respond flexibly and quickly in a crisis to organisational needs. Continuous revlew of risks, education of staff and on8oin8 investrnent in technology 501utions whi¢h Counter thls risk. CRT operates a financial policy framework which includes escalatirig anv potential future cash flow deflcits to the board as well as a reserves, policy which has been exceeded in this financial year. Cash flow and income projections are reviewed rnonthly and reported to) senior staff and to the board.
CHURCH REVITALISATION TRUST Trustees, Annual Report forthe year ending 31 December 2022 Potentlal Rlsk Safeguarding, H&5 and other reputational ri5k5 arising through Focus event. Risk ol unforeseen event5 le.8. adverse weather or disease) resulting in the need to cancel Focu5 leaving CRT with the liability for substantial cost5. Mitigation The CRT team work closely with the HT8 team to ensure that appropriate robust and compliant systems are in place to rnanage these iisk5 and keep all those coming to Focus safe. CRT'S reserves partially mitigate the financial risk. Costs are carefully controlled and Incurred as close to the event as possible to manage the risk. Event cancellation insurance has been investigated but Is often subject to exclusions which can restrict available cover considerably. io. ii.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHURCH REvrrALISATION TRUST Opinion We have audited the financi81 st8lemenls of The Church Revitslisation Trust I'the company'l for the year ended 31 December 2022 which comprise the Slalemenl of Financial Activities, the Balance Sheet. the Cash Flow Slalemenl and notes to the financial slatemenls, including a summary of significant accounting policies. The finanaal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard Applicable in the UK and Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements- give a true and fair view of the stale of the charitable company's affairs as at 31 December 2022 and of its incoming resources and application of resour$, including ils income and expenditure, for the period then ended., have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordan with International Standards on Auditing IUK} IISASIUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the audit of financial statements section of our report. We are independent of the charitable company in accordance with the elhi¢al requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibililies in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to going concern In auditing the financial statements. we have concluded that the trustees, use of the going concern basis of ac¢ounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubl on the charitable company's ability lo continue as a going concern for a period of al least twelve months from when the financial statements are 8Uthorised for issue. Our responsibilities and the responsibilbties of the trustees with respect to going concern are described in the relevant sections of this report. Other Information The other information comprises the information included in the annual report. other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and. except lo th8 extent otherwise explicitly slated in our report, we do not express any form of assurance condusion Ihereon. In connection with our audit of the financial statements, our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is 8 material misstslement in the financial statements or a material misslalement of the other information. If. based on the work we have perfomied, we
conclude that there is 8 materi81 misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees, annual report for the financial period for which the financial statements are prepared is consistent with the financial slatemenls., and the trustees, annual report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exception In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit. we have not identified material misslalemenls in the trustees, annual report. We have nothing lo report in respect of the following matters where th8 Companies Act 2006 requires us to report lo you if. in our opinion: adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and retums.. or certain disclosures of tru3lees' remuneration specified by law are not made., or we have not received all the information and explanations we require for otjr audit; or the trustees were not entitled to lake advantage of the small companies exemption from preparing a Strategic Report. Responslblllties of trustees As explained more fully in the trustees, responsibilities statement sel out on page 5. the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for suth internal control as the trustees determine is necessary to enable the preparation of financial slalemenls that are free from material misslalement, whether due lo fraud or error. In preparing th8 financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, mallers related to going concem and using the going concern basis of accounting unless the trustees either intend lo liquidate the charitsble company or lo ase operations, or have no realistic alternative but lo do so. Auditor's responslbllltleg for the audlt of the financial ststements Our objectives are to obtain reasonable assuran about whether the financial statements as a whole are free from materi81 misstalemenl, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audrf( conducted in accordance with ISAS IUKI will always detect a material misslalement when it exists. Misslalements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAS IUKI we exercise professional judgement and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misslatemenl of the financial slatemenls, whether due to fraud or error, design and perform audit procedures responsive to those risks, and io
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misslatemenl resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions. misrepresentations, or the override of internal control. Obtain an understanding of inlernal control relevant lo the audi( in order lo design audit prOdureS that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company's internal control. Evaluate the appropriateness of accounting poliaes used 8nd the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the Iruslees, use of the going concern basis of accounting and, based on the audit evidence obtained. whether a material uncertainty exists related lo events or conditions that may cast significant doubl on the charitable company's ability to continue as a going Con. If we conclude that 8 material uncertainly exists, we are required to draw attention in our auditor's report lo the related disclosures in the fi'nancial slalemenls or, if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up lo the dale of our auditols report. However, future events or ¢ondilions may cause the charitable company to cease to continue as a going concern. Evaluate the overall presentation. structure and content of the financial statements, including the disclosures, and whether the financial slalements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters. the planned scope and liming of the audit and significant audit findings, induding any significant defl¢iencies in internal control that we identify during our audit. Explanation as to what extent tho audit was consldergd capable of detecting irregularltles. ncluding fraud Irregularities. Induding fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect malefial misstalemenls in respect of irregularities, including fraud. The exlenl to which our ProdureS are capable of detecting irregularities. including fraud is detailed below. The objectives of our audit in respect of fraud, are.. to identify and assess the risks of material misstatement of the financial slalements due to fraud,. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misslalemenl due to fraud, through designing and implementing appropriate responses lo those assessed risks,. and lo respond appropriately lo instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and deted'on of fraud rests with both management and those charged with govemance ol the charitsble company. Our approach was es follows.. We obtsined an understanding of the legal and regulatory requirements applicable lo the ¢harilable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP. and UK financial reporting standards as issued by the Financial Reporting Council. We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance. We assessed the risk of material misslalement of the financial statements, including the risk of material misstatement due lo fraud and how it might occur. by holding discussions with man8gemenl and those charged with goveinance. li
We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. Based on this understanding. we designed specific appropriate audrt procedures to idelllify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with govemance and obtaining add(cional corroborative evidence as required. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misslalemenl due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example. forgery or iiitentional misrepresentations, or through collusion. Usg of this report This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste to the company's members those matters we are required lo stale lo them in an audilorfs report and for no other purpose. To the fullest exlenl permitted by law, we do not a¢pt or assume responsibility lo any party other than the charitable Company and charitable company's members as a body, for our audit Work, for this report, or for the opinions we have formed. K, LCP James Cross (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP. Statutory Auditor 9 Appold Street London EC2A 2AP Date.. 22 May 2023 12
Church Revitalisation Trust Statement of Financial Activities For the y8ar8nded 31 December 2022 Unr¢$tri¢ted funds 2022 Restrlcted funds Total fund$ 2022 Total funds 2021 2022 Not• INCOME Donatlon$ and legacles Donatson5 and grants Booking fees & other irne g93,599 1.105,845 9,082.635 10,076.234 1,105.645 4,393.604 3,852 2,099,244 9,082.635 11,181,879 4,397.456 EXPENDITURE Exp¢nditure on ralslng funds Costs of raising funds 64,094 152.971 217.065 145.754 Exp8ndlture on rharitable actlvltlè$ Clergy training and pparatiOn Gffjn15 and mission giviTrg lexcluding Love Ywr Neighbour grants) Other ministry and operdlional Costs 17.796 1,681,304 1,699,1(K> 1.381,993 160,797 1,429,388 1,590,1 4n,331 1.659,867 864,813 2,524,680 930,976 Love Your N84ghbwr grants and suprmxt 1,792,282 1,792,282 2.739,696 rotsl oxpenditure 1.902.554 5.920.758 7.823.312 5.655.750 Net incomellexpendlturel 196.690 3.161.877 3.358.567 1.258,294 Fund8 brought forward 1,736.281 641.681 2,377.962 3.636.256 Funds carrfed forward at 31 De¢emb8r 1,932.971 3,803.558 5,736.529 2.377.962 Al atnounts are derived from continuing a¢tivi118S. The notes on pages 16 10 26 form part ofthes& financial slalements. AJI re(*Jgnised gains and losses a Includ In thè Staternt of finanoal aclivili8$. The slalem8ntof fin8cial aclivi118s also ¢omplie8 wth the requlrement foran inwme and expenditure account under the Companies Act 2006. 13
Church Revitalisation Trust Balance Sheet As at 31 December 2022 Note 2022 2021 FIXED ASSETS Tanglble flxed assets 6,497 2,006 CURRENT ASSETS Debtors 552,444 955.607 Cash at bank and in hand 5.742,856 2,366,792 Total current assets 6,295,300 3,322,399 LIABILITIES Amounts falllng due wlthin one year 10 1565,2681 1946,4431 NET CURRENT ASSETS 5,730,032 2.375,956 NET ASSETS 5,736,529 2,377,962 FUNDS Unrestrlcted 1,932,971 1,736.281 Restrlcted 11,12 3,803,558 641,681 5,736,529 2,377,962 Approved by the Board on 24th Aprll 2023 and slgned on Its behalf by: The Rev'd R.M. Coales Chair of the board of trustees The notes on pages 16 to 26 form part of these finanaal ststements. Company no- Charity no.. 10754427 1174882 14
Church Revitslisation Trust Statement of cashflow For the year ended 31 Decembor 2022 Note 2022 2021 Not cash Inflow I loulflowl from operations (see note below) 3,383,478 1991,9731 Cash flows from investing activities Tangible fixed asststs purchased 17.4141 12,4291 Net Increase In cash & cash equivalents 3,376,064 1994,402) Cash balance brought forward 2.366,792 3.361,194 Cash balance carried forward 5,742,856 2,366,792 Note to cash flow statement Cash flow from opgratlng actlvltles 2022 2021 Nel operating surpluslldeficill (per SOFA) Depreciation and amortisation charges Decrease in debtors {Decreasel in Creditors 3,358,567 2,923 403.163 1381,1751 (1,258,294) 636 1.590,207 11.324,5221 10 Net Cash loutflow} l inflow from operating activities 3,383,478 1991,973 The charity has no net debt and accordingly no net debt nole is presented. 15
Church Revltalisation Trust Notes to the financial statements For the year ended 31 D8e•rnber 2022 1. ACCOUNTING POLICIES These accounts are prepared on a going concern basls undor the hlslori¢81 cost convention. The charitable company is a public benefit enlily for the purposes of FRS 102 and therefore also prepared its financial statements in accordance with the Stslerntsnl of Recommended Practice applicablts to charities preparing their accoL)nts in accordance with the Financia1 Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charitias SORPI, Companies Acl 2006, and the Charities Act 2011. The financial statements are prepared in sterling, whl¢h Is th8 fun¢tlonal currency of the ¢haritabl8 company. Monetary amounts in these financial statements are rounded to the nearest pound. Funds General funds represefil the funds of the Charity that are not subject lo any restricllons regardlng thelr use and are available for application on the general purposes ol the Charity. Funds designated for a p8rti¢ular pvrpose by the Charlty are also unrestricted. The accounts include all transactions, assets and liabilities for which the Charity is responsible in law. Restricted funds arise whef8 the (Sonor has specified which area of aclivty they wlsh lo be supported by thglr glft. The Charily is not at liberty lo utilise these funds lo support other activity wilhoul the express poimission ol the donoT. The accounts include all transactions, assets and liabilities lor which the Charity is responsible in18W. Goln concern The trustees have assessed whether th8 use of the going con¢8m basis is approprlat& and have ¢onsldered posslble events or ¢onditions that might cast significant doubt on the ability of the charity to continue as a going concem. The trus8$ havè made this assessment lor a period ol at least one year from Ihe date of approval of the financial slalemenls. In particular thè trustèes hav8 considèred the polential impact of the coronavirus pandemic on existing church planting activities, as well 85 the pot8ntial rédu¢tion in voluntary giving. The strength of CRT'S 2023 pipeline. the generous donations received towards the Love Your Neighbour campaign across the neknrk and the current free reserves of £1.932.971 rnean that the trustees have concluded that there is reasonablo expectation thal the charily has adequate resources to continue in operational existence for the foreseeable lulure. The ¢harity thgreforg continues to adopt thè going concern basis in preparing its financial statements. Incomè Donations and grants Donations and grants reIV8b1e arè recognised only when the Charity is notrfied Df its legal entitlement, the amount due is guanlifiable and its ultimate receipt by the Charfty is probable. In¢om& lax r8coverable on Gift Aid dc>nations is recognised when ihe income is recognised. Government gr8nts Grants relating lo revenve are r8¢ognised in income on a systematic basis over the pgrlods in which thè entity recognises the associated costs lor which the grant is intended to cornpensate. Ex gndltura Expenditure is ¢harged to Ihe siatement of financial activities as it falls due, and is analysed according lo its nature beiween (he following ¢ategoriès.. Cost of raising funds, Clsrgy trainlng and prèparation, Grants and mission giving, Other ministry and operational costs and Social Iransformalion. As refle¢led In note 14 IRelated Parties), a close working relationship is enjoyed belween Holy Trinity Brompton IHTBI. ph8 Intern8lion81 IAII, St Paul's Thèological Cenlre ISPTCI and ChLJrch Revitalisalion Trusl ICRTI. Shared service Costs (known as Central Services) are in¢urred by HTB and thèn ie¢harged to thè other chariii&s using the mosl appropriale driver lor each service cost type. These support COSts are allocat1 between ¢haritable 8clivitigs based on estimat&s ol the resources deployed towards each of these activities. 16
Church Revitallsatlon Trust Notes to the financial stateménts For the yèar •nd&d 31 December 2022 Grants Grar)Is are made to charitable organisations whose activities accord with the objects of Church Revitalisation Trust. These are made al the dis¢retion of the board, based on established evaluation criteria. Grants are accounled for when due. Flxed assets Cost rolated to the assets purchased are capitalised as incurred. The charity capitalises any fixed assets over £1.000. Assots are depreciated on a straight line basis over their 851irnated useful lives. The periods uséd are as follows-. Computer Equipment- 2 years Other Equiprnent- 3 years Depreciation has been charged on the computer and other equipment from the date of purchase. Th8 carrying values of tangible fixed assets are reviewed for impairment in periods when events or ¢hang&s in circumslanees indicate the carying value rnay not be recoverable. Current assets Amounls owing to the Charity at 31 DecaMr are shown as debtors after providing lor amounts that it is thought may prove uncollectable. Cash and cash e uivalents Cash and cash equivalents include cash in hand, deposits held al (sll with banks, and oth8r short-t&mi liould Investments wilh original maturities of three months or less. Flnanclal Instruments The charity has elected lo apply the prc>visions ol Section 11 'B3sic Finandal Instruments, of FRS 102 lo all of its financial instruments. Financial instruments are recognised In the charitys balance sheet when thè charlty becomes party lo the contractual provisions of Ihe inslrurnenl. Financial assets and liabilities are offset, with the nel arnounts presented in the financial siat6ments, when there is a legally enforceable right to sel off the recognised arnounts and there is an intention to 58ttle on a ntrt basis or to alise the asset and settle the liability simultaneously. With the exceptions of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102. See notes 8 and 10 for the debtor and ¢radilor not¢s. Creditors Creditors are r&cognised where the charity has a present obligation resulting from a past event that wll probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or eslimated reliably. Em lo ee benefits The costs of short-larm employee benefits a recognised as a liability and an expense. Critical a¢¢ountin èstlmates and areas of 'ud ement In preparing financial ststemants it is nacessary tD make certain judgements, estimates and assumptions that affect the amounts recognised in the financial stalemenls. The following judgements and estimates are considered by the trustees to have the most Significant effect on arnounls recognised in the fin8n¢ial ststements.. Support cost allocation The allocation of support costs from Central Services is based on estimates of the resources used by Central Servictrs on each of these activities. 17
Church Revitalisation Trust Notes to the financial statements For thÈ yèar ended 31 December 2022 2. DONATIONS AND GRANTS Vnrestrlct•d fund$ R48trtCi•d lundy Totsl fvndB Total lundg 2022 2022 2022 2021 222fi73 55,939 176.299 45.359 200.wo 8.660.977 9.082.635 39B.972 101.298 200.0 9.375.964 10.078.2Y 149,230 40,830 kncome tax recOre Department lor Levelliry Up. HoUng and Communil Oth&rdon¥lion& and grants 714.987 993.9 4,203.444 4,393.804 3. BOOKING FEES & OTHER INCOME Total 2022 Total 2021 Bookiw F- Retrea1¥ & Ev8nls Booki Fèss- Focus Event teresiand Other Income 22.272 1,070.904 12.469 1,105.645 252 3.852 The booking fee income received is r8laled to various retreats run to support and Irain deryqy and their fatnili85. In addition. F$. the annual IL weekend away for HTB Network louk p¢¢ in July 2022 and was lully manoged and 4dmini¥lered by CRT Iprewous1y run by HTBI t ¢1 these evenls was bom8 byCRT.3nd pmounl£d lo£67.31202I. £31.1761 for Re1lS & Events and £1.315.16212021. £Nill l¢rF¢¢us Evenl. 4. EXPENDrruRE 4aAnalysls 01gxpgndltur Thè table an81yses eXpendure on th8 Sistemenlof Fthiandalkbvils ISOFAI 5Ct0nd supwrt Costs. Support ¢a¥tg h$vè bèÈn allocaied tothe (915 bdowon Ihe basts olynrtload invdv&l in Supwiiro ihern. Dirfjd¢vwts 2022 Support ¢osts Z022 Totsl ¢¢¥ts 2022 ChAdtAbl• acllvlllos ClergyTraining Preparation Gt¥nts arwj Mi$$i¢n Giving l¥xduding Soci81 Tpn$l¢mièlw GraM8- seè 4cl Othei Minisiry and Operational Cosls 1.S99M71 1.W.484 2.336.628 100.029 4.701 188.052 1.699.1th) 1.590.185 2.524.680 Ltye Your NEhbrG1anL1aee rK>le4c &4dl Lo¥eYour Nel9hbourGeneral Lovechrislmas Love cl13 Ind1¥) Dspi ftLsvslliny Up. Hsing arml Communities Love Ukraine 5.000 345.333 522.178 168.200 31.3 42.616 34.884 376,732 564,792 203,084 Le Your NeighbLyJrOpBTrliw31 C0513 Ise8 noteAdl 593.826 e42,t74 Fundralslng c06ts Gen9ral Lov¥ Your 010hbOur 81.231 77.613 41,503 16,718 122.734 94.331 Total on SlÈtement of RnBnclo1 Acll¥ftle5 7.314.564 508.T48 7.823.312 Dlre¢l costs 2021 8upport¢osts 2021 Total cosla 2021 Charllable aCt5tIeS Clergy Training and Pr0rrat81 Gffjnts and Givino lexcluthng SocialTr8nst0mètM Gr8nis-&8e nol&4c} otherminislryand Operational Cos15 1.263.240 474.047 783.728 .753 3.284 147.248 1.361.993 477.331 930.976 Lthe Your Ihlayhbouc Grnnts (seen0 4e & 4dl Your NeighbourGenerdl Lovg Chrislfflas DeptrCuIture. M8dKg & Sptyt 494.9fj4 513.054 527.500 9)4.W7 20.0 7.772 2.523 514,994 520,828 S30,023 504,007 YourNwghbour Operdlional Costs158& nole 4dl 616.437 53.409 Ftsndral$iNa casts GeTaI Lov• YourNgighrthr eS.705 44.1S7 27,527 8,365 93.232 52.522 T¢)tsl ott S¢atsm*ntof FlnancLql Aci1vl¢8 5,286.839 368911 5 655,750 18
Church Revitalisation Trust Notes to the flnanclal statements For the year ended 31 December 2022 4b Support ¢o$ts Th8 folloWg ¥UPPDrt ts have alk>rAled toihe charitae lIlIeS ave.. 2022 2021 FIlle8 proporty ¢¢sts 94.164 118.755 146.766 gF.722 51.341 66,530 86,311 99,7 69.234 35.124 12.0 Finan¢6 HR Legai Medi¥. Pr0dud1 and Movlng Image Total Support C0615 508,748 368.911 4c Grants Grants and Ml¥$ion Ging l•x¢luding Lov8 Your N8ighbour Grants) unStCted Restrlcted, runds nds Total lunds Total IndS 2022 2022 2022 2021 Grant aranl Puwposo SuppDrtthg PeterAnd Caleb stream and further the growth & dOvek)pn1 ol Ih&¢ollJ8 Suppori newchurGh plant Support SMF Curates Support new ¢hur¢h plani Supportdev&lopmenl ol existing thurch an1 Support STrAF Curates Support devgiopmtrnl of txisling ¢hurth affl, fA>Yer Nelwork worship Iraining and Head of Neiwork ¢ost$ Support devek)pmenl of existirocmrth p18nl Support new church pFanl Support SMF Cu<8¥ Support SMF Curates Support SMF Coraies Support SMF Cvraltrs Grant Head ol Eslaie Church Flantiw c051 Network Kids Ministry Supwrt supp SMF Curates Support development ol exi51ing thurch plant Supw SMF Curate5 Supptyt dev8lopment ol 8Xisling thurth an1 sup SMF Curates R[an1- supwrt church plant supp n$w¢hur¢h plant sup newchurGh plant $upptht newchuich plant supp nw¢hu¢h pl8nl Support devglopm&nl ol exisliry churth plant Supportdevelopmenl of exislino church plant Support dtv¥lopnrni of trXi$lirtg ¢hur¢h plani Suppori developtTnt of ex11 church pnI Support deVelowThntofexti church pLqnl VarioLL% Sl Pauf$ C6ntre Leaiherhead Church Sl Paul's Shackwell Sl Mithl's Chvr¢h B84ro$toko St Leonaid's Adringlon Sl John's H&mpton Wick 954,0 T4,1T2 53.319 954.0 74,1T2 ,319 68,867 17,824 40.0 40.DDO 32,051 10.( 21. 32,051 St Petevs Brighton 53,6T3 53.673 SIwbUrOh'S Church DY Chrisl Church Rio Lighlhovse Lon4 All Hallows Bow Sl Luke Kentish Tovm Sl Pelerf5 8ro¢kley Goswrt South PCC Harbwf church PortSm0h HOTrinItY Clapham River Church Ipswith Chrlsi Church Fellham Sl John's Hampion Widt Sl Jthn al Hackney Neknn Slreel Church, Rothdale Sl Jofvn's Bla¢kpth)I Sl al Hackney Sl Luke's Bl£ckbum BayChur¢h Torb8y Sl Swiths Litrcoln Sl Malthiag FivvNays Sl WirFs Totton CCRC TrLFsI Woven church Nolllngham Other Grdnls £10.OCiI Lmder 25.000 25.000 22.563 21.369 17.777 16.185 15,000 14,475 13,010 12,0 12,836 11.720 9.15S 2.4(K) 1.663 25.0(K) 22.563 21.369 17.777 16.185 15,000 11,250 13,010 10,828 12,836 14.634 17.090 15.000 3.225 2.172 10.000 11.720 9.1 13,1*6 22,450 so,wo So,0 25,WO 25.WO 10.wo 10.000 10,0 10.0 28.653 474.047 18.643 156.096 88.473 1.429,368 1.585,484 Support (¥xlS 4.701 4.701 3.284 Tot41 Grnni$ •nd Mi8$ion GIving1o¥¢lvding So¢lfjl Tratr)$formatlon Gr8ntsl 180.797 1,4?9.388 1.590,185 477.331 he grants fvomre5trKlad funds lake accowl of the 5pecifiration ol parkncular ck)nors, all alS are subject lottte review. sign-off and ap[al of the CRT board. 19
Church Revitalisation Trust Notes to the financial statements Forthe year ended 31 December 2022 4¢ Grani$ ¢onllnu•d Love Your Nelghbour Grants The granls below were all wardtrd fr¢m Reii¢18d funds in ¢onn¢cllon wllh Love Yr Neighbour actlvlty.. Love Your NÈlghbour Gfrnèral Love Christmas Love Cities Including DLUHC. 2022 Love Ukralne Total Tot 2022 2022 2022 2022 2021 Grantse HolyTdnity Br(xnpton NOOrk¢rch Shèfftekl Vintry8rd Compasslon Soul Foundation Destiny Church Glasgow Sl John's era¥%ley Sl George's Gateshead Love Cttur¢h ISI Swlthun's BoUrneMlhI Sanl MaryB Soulhamplon Trentcnpa&SIoTh Trust AL¥laouS Chwch Manchtsiar H8rbour Church Portsmouth Rlv$rCh Ipgwlch Hillsony Lif8 Church Mini$trie$ B&A Church Hdy Trinity Haslings Pattem Church 21.307 80.896 go,0 67.500 67.500 53.397 20.oc 122.203 90,000 87,500 73.875 63.397 62.132 $1.240 48.617 42.176 410.8 27.375 26,WO 26,WO 26,550 25,500 20.700 20.000 20.000 18.300 16.127 12.000 10.500 6.500 5.359 S.LN)O 4,050 4,rK)o 2,818 2,800 1.831 1.476 1,000 11.926 9.984 20,000 6.375 10.000 7.136 21,240 152.219 5.500 s.0 35,$50 33.883 15,DOO 102,335 24.750 62.864 10,OCM) 48,617 33.926 ,508 12.375 21,000 20,000 10,OCrf) 20.0 10.(K)O 25.500 2.500 15,550 146,154 6,000 2,000 15.955 18.2(K) .000 20.000 Jesus House Sl Jom $1 Hackney StJokn's Blatkpo¢l KingsGate Chw¢h Peterborough and Cambiidge St Catherine's Chwch. Gor88in¢n Ground Level Intemalional Chii51ian Cenlre- Chadwell Heath LCC CommunityTrusl C3 c8mbiidg St Petsrf8 Brighton H(Ay Trinityclapham 8ri5101 CCRC Trust G8$ sir601 Am82lng Grace Chapgl Hull RdB8rn*d Chrisiian church of God Stevenage SatnaTitan's Pwsè Reading Hub Jubilee Church Londan- Enfield and Iwwj CrogsllghlAdvlce Kinys Chur¢h. London- L8wsham Preston Mln$tor Emm8us Road Resurgo Spe8r CentreE (Lond) lizen Church Charfes wilh Sl. Matthias PCC Cth6rgr8nts £10.000 and under 30.800 5.000 12.000 10.500 6.500 s.9 112.5(MJl 45.881 91.044 10,(M)D 38,491 38.ODO 80,960 35,401 15.250 27.418 72,016 28,379 15.463 176,904 26.190 85.000 65,0(Ml 56.207 41.966 40.0(N) 33,750 31,582 29,484 22,007 50,000 81.427 172,188 2,039.526 3D.325 2.069.851 4,050 4.(KlO 2.816 2.800 I,SDO 1,000 120,0241 20.000 16.%01 16,2FKJI 145,8921 127.777 .040.709 108.899 1.149.608 145,6921 127,777 345,333 31,399 376,732 5,000 S22.178 42.616 564.792 188,200 34,884 203.084 Supportcosl6 Tot•1 Lovo Your NolghbourGTants 5,000 "Includes £200k grants pakl out In 2022. in relab. to fu11ng rgceived from the Depgrtmenl lor Levg11ing Up, Housing and Cornmunilie5 IDLVHCI. 20
Church Revltallsatlon TrLESt Noles to th8 financial statements For th8 year ended 31 December 2022 dd Lov8 Yourll•lghbourAnAlys19 following ta8018 Lo¥eYour Nèlghbour expenditure on the StAlementof FId81A¢$ ISOFAIbetNen UNestrLed and restnctèd tunds. Unreslrfctsd 2022 Restrfct¢d 2022 Total lund8 2022 Total lunds 2021 Love Your Neuhbour GranlB Lovoyour NeOhbrenelal Love Chfislmas Love Clltss including Deplfor Levelling Up. Housing Conynmilies Love Ukraine Depl lor Cu11urg. Media & Swrt 5.000 316.732 564,792 203,084 514,994 520,826 530,023 376,7 564,792 203,084 504,OD7 LoveYourNeiqhbour OpBrabonal Costs 642,674 1,792,282 642.674 1,792.282 669.846 2,739.698 5. AUDIT COSTS AND DEPRECIATION Net Incomel lexpendlturel Is stated after charglng.. 2Q22 2021 Auditol$ rèmuneration Under8¢¢rual for audltorfs remuneration wryyear Ov8r acciual for pioryear 0er8erVICeS 4,820 185 1.500 3.505 6.0 DeSKeation 2.923 6. STAFF C08TS 2022 2021 Wagès and salarie5 Social seGuriIyc05ts Penston costs 1.240.070 139,026 60.482 1.439.580 1.027,694 107,770 1.193.210 As dis¢h)sed in note 14 (Related Part51. there a dose YrkIng rdalionship between HTB. AI. SPTC and CRT. The C&ntrd Servic85 Stalf who 5UPWXt all ol the cha[it¥ rylh'back otri¢e' fundiorts aro trmpl¢d by HTB, and th¥r¢o$is Ilogethgr th th$ $14 of Ih¢ir departhEntsi ar$ all0¢ad across the eThiilies using the rnosl apwwriale basis lor each suppori SeICe. The staff cosls and iformalK in this nole InGludes the proportnale 5haT& of these Central se5 siaff, 8s 11 a$ tht roltrvanl $hare of mifN$lry Staff who split Iheir btne a¢ross th¥ ¢h$rit du• io the nature of Ihtrir loS The above WVage5 and Salaries casts Indude only siaff slandaFd empwnenl conlracts wlh CRT. 11 doe5 not [lUde the o)sls of costs ol plantillg curates li¢en¢6d 10 HTB (paid for tyy CRT) or lh• share ol trgY do WO lor CRT, a$ ¢18rgy fall under $Lipènd arrangernen with th ol London. The awragg rrnnlhly of full rne qUanI em0Y l•xeludin9 dergylwas 2912021..241 The numb¥ otemployeeswhose lolol b8nefil& lexdLKng pensK)n conlribulKMS empknyer national Insuran) weregrealerlhaTr£6o.o was 3 12021. 21, 8s fdknw5". £70K- £eoK bracktri- 2 £110K- £120k brack81- 1 Nonè ol IrLSt8e$ r•¢8wed r6muner8ll fty 88 •npl¢y80$ or¢orBu1tanl$ during th8 year, S8fvi¢es as tru$$(2021.. £NII Fvrttr detsils can b8 found in noie 14 IRel£lett Partksl. Th& key rn8nt4ewl persoinel of CRT ¢ompri5e ol th Church Revilalisalion Trust Chief Execubve Officer (CRT CEO). Chf tyraling Officer ICOO) and Love Your Neighbour Chief Execulivtr Officer ILYN CEO). T#e total enyloyFe belfil¥ ol t CRT CEO ar COO lin19 p8non and Employer NIClw6re £220.75412021.. t203.10SI. The LYN CEO 15 woiking lor CRT er Sndment from Resuroo Trust. See Nole 14 for Related Party disclosure. Th9 key nnagameI personnal of ¢èniral $eNi¢• functi whi¢h sefvos HTB, AI, SPTC. and CRT2 ¢ompris6 Group Director of Peok4o. Group Chi1 Opw81ing OM¢er £nd the Group DirOr of Finance. The total emoyee beneliis linc1Ing pension Employer NCI of these kby rTraagemt peTh%onnel were £254.48212021." 06.700>." bul CRT2 only b)re a portion of the¥e c06ts of £58.81012021." £20.3481. Redunttan¢yltenYinalion paYnnIS totalled £NIl lor the ye8r12021.. £1.1081, indude 5talulorypayrnents as well as exratia amowls where these YRre considered approptiaio. This includes CRT'S share ¢1 any Central Servw redondantyes. 21
Church Revitalisation Trust Notes to the financial statements For the year endgd 31 Dgcèmber 2022 7. TANGIBLE FIXED ASSETS Computer Equlprnqnt othér Fqulpm•nt Total COST Cost as al 1 January 2022 AdditnS 6,818 1,529 7,414 B,943 8,347 7,414 15,761 Cost as ¥131 December 2022 6,818 DEPRECIATION Depr8cialioTr blf DepreaOn lor ihe year Depre3110 CJI 4.812 1.529 1.709 3.238 6.341 2.923 9.264 6,026 NET BOOKVALLIE A131 OeGember 2021 2.6 2.006 Al 31 Do¢8mbbr 2022 792 5,705 6,497 B. DEBTORS 2022 2021 Oth$1 D$biofs ppaYm•m$ A¢¢ru8d inwme OW tr(fft HTB Bafice OW trtyhAIKth8 Inlemabon81 10.000 192.997 326.370 23.Q77 93.225 TBO.593 81.789 955.607 $52,444 9. CASH AT BlK AND IN HAND 2022 2D21 B8lan¢e al bank and in han 5 742 856 2 366 782 10. CREOITORS 2022 2021 AmouThls falllng due within on8 Accruals B8laThce ¢y¢d lo HTB BAlance owed to Impha Intetnalional Granis ¢onmilied bul unpa Sundry Creditors 40.340 34.724 24.769 5,358 364,229 6,339 74.303 32.635 42.064 565,268 731.227 131.426 19.793 Tal¥tn and socld SrtlY Deferrèd 946,443 11. ANALYSIS OF NET ASSETS BY FUND ilnro$M¢tod fund$ 2022 Re5trtcted funds 2022 Total fundg 2022 2022 N•t A¥8018 by Fund FuThd Analy813 Fixed assets Current a55els 397 2,036.741 1104.1671 6,100 4,258.559 6.497 6.295.300 1565.2681 Fund balance 1,932,971 3 803 $58 5 736 $20 Unreslrfctqd frJnd$ 2021 Rv8trt¢tod fund8 2021 Total funds 2021 2021 Comparlson of Nel Assets by Fund Fund Analysls Fixed as5etts CuThi asse 1,003 1,342,619 1701,9411 1.979.780 1244,5021 3,322.3 (94S,4431 Fund balan¢• 1,7M,281 641,681 2,377,967 22
Church Revitali5ation Trust Notes to the financlal statèments For the year ended 31 December 2022 12. RESTRICTED FUNDS Optynin balan¢0 2022 CloBlng balance 2022 In¢om• 2022 Expendttu 2022 Movement on re8lrlctsdfund¥ 2022 Plntlng Curaw8- Stind. accomrnodatioTr, training and Bupport ol Cura$ preparbig to pl1 churches 2.251.280 11.452.208) 793.074 Eststas revil3li51ng churches Eslal¢$ snd Urban Aw$wilh dÈprIvaln 0.0 123,4441 s26.6 Grants and MIs51on GSvlThg- seed capital. ong¢irtg SUPPOrtf¢r¢hurch plants & t¥tyk ¢hur¢h8s and support of Peier Stream calldKSaleB 1,296,998 11,246.7671 ,231 Focu6- Gift$ givan Focu$ 8nd CRT Good Work5 563,850 1294,2581 269.5¥2 Expansion of CRT'S a¢tjvitie$-¢osts 8$8OCl8led plantin9. leadership and fundraising 1.480.f I903.4) 576.578 Othr minlslryand operatlonal costs-other 46.728 156.712 91.393 Lovo Your Nelghbour- including a grantfrom ihe Departtnenifor Levelling Up, HOUTr9 aTrJ Cmunles 594.953 2.981.795 11,886.6141 1.690.134 641,681 9.Q82.635 5.920.758 3,803,558 Openlng Clo6lng balance 2021 Income 2D21 Expendllure 2021 2021 Movement On restri¢tsdfvnd$ 2021 Pl•ntlng Curat•s- sllpend, a(L(xnThaliOfi. trainin9 and support ofwraws preparing plant¢hurth8S Grants and Mission Giwng- seed ca1. ongoing SUPPDrtforcMrch ants & network churches and support of Peter Stream ndKpa18$ 47.877 1.312.786 11.360.665) 36,640 2,913 I3.553} Othermlnlstry and •peratlonal costs- Investment dull ¢apa¢ity 165.0 111&2721 46.728 Lovv Your N6lghbour- indudlng a granl from tha DepartInl forcuttura. a&SwL 2.149,398 1.237.773 P,792,2181 594,953 2.233.915 3.012.474 14.604.708) 641.681 13. COMMITMEMT8 The ol prOpertyfor¢r9Y a¢(Jjhmc10n are tÈld ty HfB and have b2en dlsck)59d 5eparalaty in IhosefinanL¥al siawffMs. 23
Church Revltallsation Trust Notes to the financial statements For the year ended 31 Do¢ember 2022 14. RELATED PARTIES None of the iruslees were rThburSed expenses during the year. REMVNERATION FOR NON TRUSTEE SERVICES TRUSTEE OR KMP RELATEO TRUSTEESHIPS REL4TED PARTY PAYMENTS ph8 Intempliynal ITrus18&?nd Memberl, HDIY Trinity Brorwton rrfuslee unbl 31 August 2022}, Sl P6ul'8 TheologirAI Centre trruslee unlll 31 August 20221 and Sl Mellilus CDlleyeTw$i(rwse untrl 16JanuAry 20231. NKky Gumbel. IRÈ$iwed 31 Augu31 20221 £Nil12021-. £Nill Se8 below torpayTngnts toltrom HTB Group enthtles. Eccle8SiIC81 acts as Insur&rs the HTB Group. 2022 insuran¢¥ wetnium I CRT amounted to £14,25312021.. £10.1931. Ecclesiasliral donated t10.OWIow8rds cowerfng Fttus Insuran Sts. in 2022. Holy Tty Brompion Uruslee & Churchwardenl, Sl Paul'sTheologlcal C&ntre (Truse1. Sl Mèlliws Coll$g¢ TIu$i ITru$ts81. Hls¢ox Syndieat$$ Lid (Director). EcclgsiaslKal Insurance ofiice PLC (Director) and BefaC1crOup PLC (known a5 Eceles8t1cl Insurante Group until 7 March Angu8 Winlher. HT8 paid Hiscox through SEIB Insuran Brokers Ltd t45,922 for proviling Insurance for FfKus In 2022 on CRTS behall Anous WinttrEr had rK> involvement in 8nyol th98e 20221. olyTrinity Brornpton (fru51eeand Chairsince 1 September 20221, AJra Intemaik)nal trnjstee Sie 24 March 20221. St Paul's Thetsloykèl Centre Archiè CD8ies' See be1[orpo¢rnt$ lo Sl Pete¢s Brighlon andlvmrom HTB Group enlilie¥. Peter's brvjhlon cfrustee unbl 31 Augus120221. IResigmd 6 June 202?) Alpha InlgrrElIaI ITrus19& untrl 29Awl 20221 and St Pa1 Th8dtyieAI Centre IMefflbg11. Soq below tg1fW HT8 Grou9 enbbes. £Nil12021.. £Nill CRT IKJlds 8 cbsewort(Ing retIOnShipth thg 03. %tyith all HTB wB18S beiw licensed uDd&r the LorfoD Diocese. Durlng 2022 CRTrecewed lundln9 01 £676,28012021'. £1.312.7881 foi SMF 8nd SDF. thrgh ajoint With Lon Diocese. AdeMO Adebajo" Londoi Diocesan Fund. Naoml Maxwell. The Parochial Church Council OITh& E¢d0$wb¢al Parish 01 Hackney ISAINTI See bdow fcrpayfflentslo SNT. Sl Paufs Theolog31 Centre (Trusleel. Ndson Street ¢hur¢h R¢¢hd8k Lid ITru3e until 29 seprnber 20221. Cibzen Church Ltd (Direthrl, Hope Street Wrexhaffl trruslee until 23 OGtobeF 20221 Biist CCRC Trust ITruslee 29 Aprfl 20211. Tom Jackson Ihu5bandl is CEO olLYN Within CRT Furtherdetsils arè underT<¥n Jath8on'stDJSteè¢Ji8d05ure. Sarah Jackso £Nil12021.. Oqill Sar Jacson Iwlel CEOofCRT. deigy al HTB and a Iru51ee of SPTC. Tom Jackson Is CEO ofLovÈ Ywr NeIghb(wrwiin CRT. Re$urg¢ Trust IFound&rand Exe¢Jihv8 ¢halrmaThl. R9surgo Consulbng IDirgGtorl and Crossliohl Adv ITruslee until December 20211. Tom ja57. Resurgo wjorkclosdy ¥th CRTwovldlng advl¢s on Imp¥ct m•a$vr$m•nland Iralning. Thereisa Mgmorandum of Understanthng bemew HTB. CRT 8nd Resurwtovèring Ihè5è attangomtrnts. ' Twst89 "Key M¥nayement Personnd Thelolal donations made bylFU¥tees l(w 2022was £5.189.600 12021". £1.636,$001. Z4
Church Revitalisation Trust Notas to the financial ststom8nts For the year onded 31 December 2022 14. RELATED PARTIES Iconllnuedl BALANCE OWED TOIIFROMI CRT ATYEAR END ENTITY NCOhlE EXPENOITURE NOTES CRT bèafs a shsre of Central Sgrvice (>Jsts thafy¥d by HTB. noi incbJd¢& h$r$, rèlortD fiDiè 4b. HT8 recelved social Iransfortnabon grants CRT. In 2021 and 20L, as partof CRfs Love Your Neighbour Inibatrio. HolyTrinity Brornpton IHTel £307.500 {2Q21.. £269.7501 £122,203 12021.. £11.9281 E23,077 12021.. IQ4.76911 Sl Paul's T091¢81 Cenire ISPTCI £954.0 12021.. £68.8871 ¢RTawardad grants to SPTC In 2021 and 2022. $petyfi$d iowar¢ls skyp0 P?rand Caleb Streamsand for egr¥th & d8vo1oprnI0l SPT¢. 12021.. £Nill St MellltU4 Colleg8 ISMCI È150.338 12021.. £52.9501 1£25.0471 12021.. I£10$.9)) CRT $upwYts Peièr siream studenis each>Earby payng ltr•rfe&s to SMC. Fth8 1ntemalKaI IAII £16.962 (2021.. £Nill IE5.3581 12021.. £81,789) AI8%Ydrdedagranl toCRT in 2022. tty8 ¢RTs Lov8 Ukra8 12021." £2.0181 Re¥vrgoTw £157.$63 12021.. £157.7$41 1£7.5721 Re5Utyty a Memorandum ol UerStandIng with CRTduri 2020 to provid& 5UPPOrtfor Soual transformalK>n 8nd ImpaGI m8asur8m8nl 5etw¢e$ Resurgo Swr Centr95 ResLffgo recewed granl mst¢h funding lfom the Goyefflmenl DCMS grantin 2020 and match funding gi$nt upfrorn LYN ITh 2021. 12021. £J,0081 I>21.. £Nill crosl9hIAdyiCe £NII12021'. £NIll In3021 CRT awarded p gtantde4trA. as olOCMSrnatch fundiry gfdnllop up from LYN. lo CTos¥lighlAd¥lce 12021". £40.0001 Nelson Sireel Church Is afi HTB Nsrwork Church DOnalS were madè In 2021 and 2022. bylhird parti8s toCRT. 10 r¢Thi0Th N81son Street Chur¢h. In addrtn, grants were awarded in 2021 as partol CRf¥ Netwotk Supwt$nd Lovè Chrislrn85 itnrtabve. Nelson Slieet Church. Rothdae ,400 12021.. t,560> 1£4.0401 cl1£ Church Is an HTB Nethoik Church. Giaolswere awwded in boih 20213nd 2022 as partof CRT'5 Nelwoik SUprt and Love Christmas Inilialrie5. A porfiDnollhp 2021 Love Chii41mas grant was unspenl and refunded lo CRT in 2022. Citllen Church, Cardrff £NII IJ121'. £Nill 1£1.2601 12021-. £52.4001 £5,WQ Hopo Str Wrsxham £3,250 12021.. £2.000} Hope Street Is HTB Network Church. Gran w$io avéarddd in both 20218nd 2022 as partCRT'G Love Chnslmas Inibalive. 12021.. £Nill stPeler's Bruhton £NII12021'. £Nill £56.491 12021 t114.83SI {£5,5531 12021.. IE34,69411 Sl Pelerfs brhlon is an HTB trOrk Chui¢h. Grantswere awarded as partolCRTs Neiwoth SupMand Love Yovr Neighbour initsaiive. The Parochlal Church SAINT i¥ on HTe NeiwO Creh. GrAnls were awarded aspart ol CRT'S Love Your N&ighbourin11$tive 10 SUPWt SMF funded Gurate. Of The Eccle$lastl¢al ParL%h 01 Hackney ISAINTI £25.782 12Q21.. t154.1101 1£37,5231 I}21.. Granis were In 2021 a$ p8rtof D¢MS Govemmenl lunded scherne and lorCRfs Love Christmas inili8tiV¥ Grants wer 8rd6d In 2022 as part ofCRfs Neiwork supp aThJ Lovg Chnslmas Initialiv8s. A portion olth$ 2021 Love Chnslma5 grant Was unspent and rsfvnded ID CRT In 2022 Brl$tol CCRCTrust £7.070 120?1. £15.4821 £5,000 25
Church Revltallsatlon Trust Notes to the financial statements Forthe yearended 31 December 2022 15. COMPARATnlE STATEMENT OF FINANCIAL ACTIVITIES following ta& arh8lyses 2021's Incom•8rMJ Èxp8nthiure belween unresthctèd and rèsthcted funds." Vnrtr$trict0d fun 2021 R0$trl¢i• funds 2021 Total lunds 2021 INCOME Donallons IFgacl¢s DonalKinsand grants BkIng lees & other 1,381.130 3.852 3.012,474 4,393.604 3,852 1.384,982 3.012.474 4,397.4S6 EXPENDITURE E¥pÈnditure on R8lslng fund$ Cosi$ ¢1 raisiny lund$ 93.232 52.522 145.754 Expondlturo on ¢h•rii•blo a¢dvhls Cbrgy training and prep8rblv)n Grants and ffisgon gpviw (excluding Lov8 Your NeighLvJrgrantsl Olherminislry and Operatial costs 1.328 143.778 812.104 1,360.665 333,553 118,272 1.361.9¥3 4TT.331 930,976 Love Yr N9hbr9ran1s and support 2,739.696 2.739.696 Totsl 0XndItr9 1.051.042 4,604.7Q8 5.855.750 Not In¢omo11oipot)dtturo1 331940 1.592,224 11.258.294) Fund$ brouybl lo81 1,402,341 2.233,915 3,6.256 Fund¥ forward 8t 31 D•¢mb•r 1,736,281 641,681 2,377.962 26