Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE 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 2024 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Financial statements for the year ended 31 December 2024 Contents Page Trustees, annual report Independent auditor's report 9-11 Statement of financial activities 12 Balance sheet 13 Statement of cashflows 14 Notes to the financial statements 15-25 ## **CHURCH REVITALISATION TRUST** ## **the year ending 31 December 2024** ## **Reference and administrative information** The registered name of Charity is Church Revitalisation Trust (RT). During the year the trustees adopted the working name of Revitalise Trust, and it is referred to by this name throughout these financial statements. Company number: 10754427 Charity Registration Number: 1174882 Principal and Registered Office: Holy Trinity Brompton, Brompton Road, London, SW7 1JA. Trustees: Adebimpe Nkontchou Ademola Adebajo (Treasurer) Angus Winther Reverend Archie Coates Dr Gubby Ayida (appointed 27 February 2025) Harry Lawson Johnston Jeremy Herrmann Nichola Pease Reverend Naomi Maxwell (resigned 23 September 2024) Sir Paul Marshall Toby Baxendale Company Secretary: Mr Jon Shippen Bankers: National Westminster Bank PLC, 18 Cromwell Place, London, SW7 2LB Auditor: Moore Kingston Smith LLP, Devonshire House, 60 Goswell Road, London, EC1M 7AD ## **Objectives and activities** The Revitalise Trust was incorporated on 4 May 2017 in order to further the church planting activity undertaken by Holy Trinity Brompton (HTB). religion through the establishment, renewal and revitalisation of churches within the Anglican communion, and any such other church(es) or denomination(s) approved by special resolution of the 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. RT 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 churches 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. 1 ## **CHURCH REVITALISATION TRUST** ## **the year ending 31 December 2024** RT aims to address the problems of hardship and distress through its social action initiative called Love Your Neighbour. Love Your Neighbour draws on its extensive network of churches, philanthropists and charitable contacts to bring together churches, charities and organisations with a common purpose in providing support to the most vulnerable in their communities through the provision of services including those of crisis response (including food provision), debt advice, employment support and wrap around care. ## **Achievements and Performance** 4 were as follows: 1. A total of 14 new church plants within the HTB Network were supported by the Revitalise Trust with a major Resource Church being planted in Margate. 2. A total of six planting curates were recruited and are currently undergoing training at HTB or London Network churches. 3. The Accelerate Programme, a one-year training programme for planting curates, was run for a cohort of 25 leaders, including attendees from Australia and Canada. 4. The second Accelerate Sprint course for kids pastors was successfully run. 5. Ten 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. 6. The Caleb Stream, in partnership with St Mellitus College, entered its fourth year with 44 candidates, bucking the trend of reduced vocations. 7. A number of retreats and training events were run for leaders and teams from across the HTB Network including . 8. Love Your Neighbour launched the third 10 new church-based Hubs to be more impactful centres of social transformation in their towns and cities. 9. In 2024, Love Your Neighbour hubs delivered over 2.5 million meals to people in crisis and 53k volunteers supported 272k beneficiaries with either food, debt advice, employment programmes or wrap around community initiatives. 10. 2024 was the fifth year of the annual Love Christmas campaign and saw 7,000 volunteers from over 1,200 churches and other organisations across the UK deliver 94,000 bags of kindness to those most in need. Churches from over 30 denominations and networks took part. 11. Love Your was wrapped up with over 3,000 Ukrainians supported and over £570k deployed to 13 key partners churches. We were also able to bring 47 Ukrainians to Focus. 12. The Good Leader Podcast was launched, hosted by Will van der Hart. ## **Plans for future periods** 5 are as follows: 1. To support a number of new church plants (10+) from within the HTB Network across the country, with many of those continuing to plant into areas of high deprivation. 2. A further seven planting curates are to be recruited and undergo training, some of whom to plant into Estates. 2 ## **CHURCH REVITALISATION TRUST** ## **the year ending 31 December 2024** 3. The Accelerate Programme will continue with a new cohort of church planting leaders and a number of other new streams for staff team roles (kids pastors, youth pastors, operations managers and worship leaders). 4. The Wellbeing Chaplain will continue to support leaders across the Network in various ways and will film a series of short films as a resource to support healthy leadership to help enable that. 5. A new 3-day gathering for leaders and teams of our network of 185 churches will be launched in January with over 600+ to attend. 6. over 50 new discernment and theological and life skills training. 7. Grants will be awarded to HTB Network churches to support strategic growth, building redevelopment and social action projects, as well as seed capital grants for new plants. 8. Continuing a new initiative - - in conjunction with the Leadership Conference to invite potential donors to find out more about the work of the Revitalise Trust. 9. Continue to roll out a bespoke impact and data-gathering system to the Network. 10. Focus, the annual long weekend away for the HTB Network congregations, will take place in July with an expected 8,500 attendees, now in its second year of being run and administered by the Revitalise Trust. 11. Love Your Neighbour will launch the fourth support 10 more Hub churches, focused on the HTB network. Combined with the 36 churches from cohorts 1, 2 and 3, this will mean 46 Hubs will have been supported and we are on track to raise up over 50 Hubs to be impactful centres of social transformation in key towns and cities across the UK by 2026. 12. At the same time, Love Your Neighbour will work closely with its Alumni network on national priorities identified at our alumni day in November. Key priorities for 2025 include funding, supporting hubs with team building and culture, developing corporate partnerships and continuing the impact project underway with UBS and Ecorys (impact consultancy). 13. Love Your Neighbour will continue to engage a broad number of churches through its annual , with the sixth year in 2025. ## **Financial Review** Following a number of successful grant and funding applications, as well as Focus ticket sales, RT generated income of £8.1m compared to £10.5m in 2023. Income includes £1.3 million from Focus ticket sales, in line with the previous year (2023: £1.3 million). Total expenditure for the year was £8.6 million (2023: £9.8 million), resulting in a net deficit of £524k (2023: surplus of £714k). The deficit reflects a £974k shortfall on restricted funds, primarily due to the timing of project-related expenditure, partially offset by a £450k surplus on general funds. As a result, RT ended the year with a closing balance on unrestricted funds of £2.8m (2023: £2.4m). ## **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 3 ## **CHURCH REVITALISATION TRUST** ## **the year ending 31 December 2024** The reserves target based on the approved 2025 budget is therefore £2m. Free reserves at 31 December 2024 were £2.8m (2023: £2.4m), which exceeds the target. The trustees are comfortable with reserves at this level. Flexibility will 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. RT is committed to abiding by the Code of Fundraising Practice and to the Fundraising Promise. RT 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 trustees to consider the merits of the complaint and any resulting actions. If necessary, we will contact the Charity Commission for advice and guidance. No complaints of this nature relating to fundraising were received in 202 . RT has responded to the General Data Protection Regulation (GDPR), introduced May 2018, and continues to monitor the use of data carefully, particularly concerning donor data for fundraising purposes. Our Privacy Policy covers how we use donor data, and gives donors the option to opt out of any contact or make a formal complaint. We carefully monitor the relationships we have with donors and seek to maintain a consistent means of stewardship based on the guidance of the Code of Fundraising Practice and the Fundraising Promise. ## **Structure, governance and management** Revitalise 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 activities and vision of RT, and they pursue the independent interests of the charity notwithstanding their separate responsibilities in other organisations. Weekly management team and general staff meetings deal with 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 a 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. 4 ## **CHURCH REVITALISATION TRUST** ## **the year ending 31 December 2024** Our principle is to reward staff, irrespective of seniority, informed by the following: - Fairness; without discrimination 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 (HTB, Alpha International (AI), the Revitalise Trust Theological Centre (SPTC) 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. -committee of the HTB PCC and the RT and SPTC boards, and includes representatives from each. Alpha International has its own Global Remuneration Committee (Global RemCo). In order to maintain a unified 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 within the group remuneration framework. ## **Relationships and Related Parties** Details of related parties are given in note 14 of the financial statements. Company law requires the trustees to prepare accounts for each financial year which give a true and these financial statements the trustees are required to: - select suitable accounting policies and then apply them consistently; - comply with applicable accounting standards, including FRS 102, subject to any material departures disclosed and explained in the financial statements; - state whether a Statement of Recommended Practice (SORP) 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 which 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: 1. So far as the trustees are aware, there is no relevant auditors are unaware; and 2. The trustees have taken all the steps that they ought to have taken as trustees to make auditors are aware of that information. 5 ## **CHURCH REVITALISATION TRUST** ## **the year ending 31 December 2024** The trustees are committed to maintaining the highest legal and ethical standards in the way the charity undertakes its fundraising activities. RT is committed to abiding by the Code of Fundraising Practice and to the Fundraising Promise. RT has appointed external consultants to provide staff training, advise the charity on fundraising matters relating to data protection and to help promote best practice within the charity. ## **Public Benefit** Public benefit: running a charity (PB2), ” and have had regard to it in their administration of the charity. The trustees believe that RT 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 communities, 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 poverty, debt or addiction. ## **Risk Management** The trustees have conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems and procedures have been established to mitigate the risks 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 8th July 2025 and signed on its behalf by The Reverend R.M. Coates, Chair of the board of trustees 6 ## **CHURCH REVITALISATION TRUST** ## **the year ending 31 December 2024** ## **Major Risks and Uncertainties** ||**Potential Risk**|**Mitigation**| |---|---|---| |1.|Loss of confidence by
stakeholders due to the
behaviour of senior leadership
or staff members.|Organisational values are clearly defined and regularly communicated.
Prayer and worship are central to life at RT.
Oversight and governance structures are in place for senior leaders and
staff.| |2.|Reputation of RT is damaged by
actions of church plants or their
leaders.|RT seeks to maintain close relationships with church plant leaders and
to provide ongoing training and support to them.| |3.|Safeguarding incident arises in
a church plant or HTB Network
church related to RT.|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 England safeguarding policy.| |4.|Harm comes to visitors or staff
due to lack of appropriate and
compliant Health & Safety
procedures.|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 ongoing.| |5.|Future of the organisation
jeopardised due to lack of
adequate succession planning
for key senior roles.|Succession planning is under continual review for key senior roles in the
organisation.
Recent smooth and successful transition to a new Vicar of HTB.
RT maintains a close working relationship with HTB, which has a large
staff team.| |6.|Poor decision-making and
breach of regulatory
requirements due to weak or
non-compliant governance
structures.|Board meetings and structures are compliant with Charity Commission
requirements.
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 Board,
and fully disclosed in the Annual Accounts.| |7.|Inability to operate in the event
of a disaster due to lack of
adequate business continuity
planning. Business continuity
compromised or critical data
lost through cyber-attack.|Significant investment has been made in upgrading digital and
technology systems, including moves to largely cloud-based systems
which has increased resilience. We demonstrated during the pandemic
our ability to respond flexibly and quickly in a crisis to organisational
needs.| |8.|Cyber security risks continue to
increase rapidly with changes in
technology, creating risk of
data security breaches,
impacting our ability to operate
and potential significant
financial loss.|Continuous review of risks, education of staff and ongoing investment in
technology solutions which counter this risk| |9.|Lack of sufficient income
and/or inadequate cashflow
results in an inability to meet
salary and creditor payments.|RT operates a financial policy framework which includes escalating any
policy which has been exceeded in this financial year.
Cash flow and income projections are reviewed monthly and reported
to senior staff and to the board.| 7 ## **CHURCH REVITALISATION TRUST** ## **the year ending 31 December 2024** ||**the year**|**ending 31 December 2024**| |---|---|---| ||**Potential Risk**|**Mitigation**| |10.|Safeguarding, H&S and other
reputational risks arising
through Focus event|The RT team work closely with the HTB team to ensure that appropriate
robust and compliant systems are in place to manage these risks and
keepall those comingto focus safe.| |11.|Risk of unforeseen events (e.g.
adverse weather or disease)
resulting in the need to cancel
Focus leaving RT with the
liability for substantial costs|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.| 8 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHURCH REVITALISATION TRUST Opinion We have audited the financial statements of Revitalise Trust {"the company") for the year ended 31 December 2024 which comprise the Statement of Financial Activities. the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial 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 Prattice}. In our opinion the financial statements- give a true and fair view of the state of the charitable companws affairs as at 31 December 2024, and of its incoming resources and application of resources, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI11SAs IUKII 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 ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities 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 golng concern In auditing the financial statement5. we have concluded that the trustees. use of the going concern basis of accounting 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 signilicant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the linancial statements are authorised for issue. Our responsibilities and the responsibilities 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 h'nancial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other information and, in doing so, consider whether the other information 15 materially inconsistent with the financial statements or our knowledge obtained in the audit or othe￿1$e appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE information. If. based on the work we have performed. we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. the information given in the Annual Report is inconsistent in any material respect with the financial statements: or the charitable company has not kept adequate accounting records- or the financial statements are not in agreement with the accounting records and returns; or we have not received all the information and explanations we required for our audit. Responsibilities of trustees As explained more fully in the trustees. responsibilities statement set out on pages 5 and 6. the trustees Iwho are also the directors of the charitable company) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of linancial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. As part of an audit in accordance with ISAS {UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud 15 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 internal control relevant to the audit in order to design audit procedures 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 policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees. use of the going concern basis of accountin8 and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast signilicant doubt on the charitable company's ability to continue a5 a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditorfs report to the related disclosures in the linancial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the linancial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regardin& among other matters, the planned scope and timing of the audit and significant audit tindings. including any significant deticiencies in internal control that we identify during our audit. Explanation as to what extent the audit was considered capable of detectin8 irregularities, includin8 Fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detetting 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 statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud. through designing and implementing appropriate responses to those assessed risks,. and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable companv. Our approach was as follows: We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most signilicant are the Companies Act 2006, the Charities Act 2011, Charity SORP, and UK tinancial 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 misstatement of the linancial statements, includinB the risk of material misstatement due to fraud and how it might occur. by holding discussions with management and those charged with governance. 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 misstatement 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 intentional misrepresentations, or through collusion. Use of thls report This report is made solely to the charitable compan¢s members, as a body, in accordance with Chapter 3 of Part 8 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the members ofthe trustees those matters we are required to state to them in an auditor'5 report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to 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 opinion we have formed. K, James Cross, Senior Stat ory Auditor For and on behalf of Moore Kingston Smith LLP, Statutory Auditor 6th Floor. g Appold Street. London. EC2A 2AP Date.. 19 September 2025 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Statement of Financial Activities For the year ended 31 De¢ember 2024 Unre$trict8d funds 2024 Rgstricted funds 2024 Total funds 2024 Totsl funds 2023 INCOME Donatlons and legacles Donations and grants Booking fees & other income 496,311 1.543.892 6.075,180 6,571,491 1,543,892 9,070,738 1,427,611 2.040.203 6.075. 180 8.115,383 10,498.349 EXPENDITURE Expondituro on raising fund¥ Costs of raising funds 406,146 406,146 376,253 Expendlture on charltable activitles Clergy training and preparation Grants and mission giving (excluding Love Your Neighbour grants) Other ministry and operational costs 1,598,420 1,598,420 2,075,699 67,453 698,928 766,381 1,802,606 184.549 1,589,415 1,773,964 1,312,363 Love Your Neighbour grants and support 1,689,766 1,689,766 2,194,502 FOCUS 1.337.925 1,066,960 2,404,885 2,022,622 Total expgndlture 1.589.927 7,049,635 8,639,562 9,784,044 Net Incomellexpendlturel 450.276 974,455 1524,179 714,305 Funds brought forward 2.413.185 4,037.649 6,450,834 5,736,529 Transfer from prlor year 193.693) 93,693 Funds ￿rrIed forward at 31 Dg¢embor 2,769,768 3,156,887 5,926,655 6,450,834 All amounts are derived from continuing ath'vities. The notes on pages 1 S 10 25 fom part of these financial ststements. All recognised gains and losses are included in the statement of financial activrties. The statement of financial activities also ￿mplIeS wf(h the requirement for an income and expenditure account under the Companies Act 201%. 12 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Balance Sheet As at 31 December 2024 Note 2024 2023 FIXED ASSETS Tangible fixed assets 9.588 3,247 CURRENT ASSETS Debtors 632,601 499,432 Cash at bank and in hand 6,170,734 6,515,810 Total current assets 6,803,335 7,015,242 LIABILITIES Amounts falling due within one year 10 (886.268) 1567,6551 NET CURRENT ASSETS 5,917.067 6,447,587 NET ASSETS 5,926.655 6,450,834 FUNDS Unrestricted 2,769,768 2,413,185 Restricted 11,12 3,156,887 4,037,649 5,926.655 6,450,834 Approved by the Board on 8th July 2025 and signed on its behalf by: The Rev'd R.M. Coates Chair of the board of trustees The notes on pages 15 to 25 form part of these financial statements. Company no.. Charity no.. 10754427 1174882 13 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Statement of cashflow For the year ended 31 December 2024 Note 2024 2023 Net cash Inflow l {oufflow) from operatlons (see note below) (333,511) 772,954 Cash flows from investing activities Tangible fixed assets purchased (11,565) Net Increase In cash & cash equlvalents (345,076) 772,954 Cash balance brought forward 6,515,810 5,742,856 Cash balance carried forward 6,170,734 6,515,810 Note to cash flow statement Cash flow from operatlng actlvltles 2024 2023 Nel operating surplusl(deficit) (per SOFA) Depreciation and amortisation charges (Increase) I decrease in debtors Increase in creditors (524,179) 5.224 (133,169) 318,613 714,305 3,250 53,012 2,387 10 Net cash {ouffiowl I Inflow from operatlng actlvltles (333,511) 772,954 The charity has no net debt and accordingly no net debt note is presented. 14 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Notes to the financial statements For the year ended 31 December 2024 1. ACCOUNTING POLICIES These accounts are prepared on a going concem basis under the historical cost convention. The charitable company is a public benefit entity for the purposes of FRS 102 and therefore also prepared its financial statements in accordance with the Ststement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORPI, Companies Act 2006, and the Charities Act 2011. The financial statements are prepared in sterling. which is the fijnctional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest pound. Funds General funds represent the funds of the Charity that are not subject to any restricts'ons regarding their use and are available for application on the general purposes of the Charity. Funds designated for a particular purpose by the Charity are also unrestricted. The accounts include all transactions, assets and liabilities for which the Charity is responsible in law. Restricted funds arise where the donor has specified which area of activity they viish to be supported by their gift. The Charity is not at liberty to utilise these funds to support other activity without the express permission of the donor. The accounts include all transactions, assets and liabilities for which the Charity is responsible in law. Goin concern The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or Conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. The strength of RT'S 2025 pipeline and the current free reseNes of £2.769,768 mean that the trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concem basis in preparing its financial statements. Income Donations and grants Donations and grants receivable are recognised only vthen the Charity is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the Charity is probable. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Government grants Grants relating to revenue are recognised in income on a systemats'c basis over the periods in which the entity recognises the associated costs for which the grant is intended to compensate. enditure Expendilure is charged to the statement of financial activities as it falls due, and is analysed according to its nature between the following categories.. Cost of raising funds. Clergy training and preparation, Grants and mission giving, Other ministry and operational costs and Social transformation. As reflected in note 14 (Related Parties), a close working relationship is enjoyed between Holy Trinity Brompton (HTB), Alpha International (All, St Paul's Theological Centre {SPTC) and Revitalise Trust (RT). Shared service costs {known as Group Professional Services) are incurred by HTB and then recharged to the other charities using the most appropriate driver for each Servi￿ cost type. These support costs are allocated between charitable activits'es based on estimates of the resources deployed t¢)wards each of these activities. 15 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Notes to the financial statements For the year ended 31 December 2024 (continued) Grants Grants are made to charitable organisations vthose activities accord with the objects of Revitalise Trust. These are made at the discretion of the board. based on established evaluation criteria. Grants are accounted for when due. Fixed assets Cost related to the assets purchased are capitalised as incurred. The charity capitalises any fixed assets over £1,000. Assets are depreciated on a straight line basis over their estimated useful lives. The periods used are as follows.. Computer Equipment- 2 years Other Equipment- 3 years Depreciation has been charged on the computer and other equipment from the date of purchase. The ¢arrying values of tsngible fixed assets are reviewed for impairment in periods when events or ¢hanges in circumstances indicate the r2rrying value may not be recoverable. Current assets Amounts owing to the Charity at 31 December are shown as debtors after providing for amounts that it is thought may prove uncollectable. Cash and cash e ulvalents Cash and cash equivalenls include cash in hand. deposits held at call with banks, and other short-term liquid investments wrth original maturities of three months or less. Financial instruments The charity has ele¢ted to apply Ihe provisions of Section 11 'Basi¢ Financial Instruments, 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, wth 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. With the exceptions of prepayments and deferred income all other debtor and Greditor balances are considered to be basic financial instruments under FRS 102. See notes 8 and 10 for the debtor and creditor notes. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. ee benef The costs of short-temi employee benefits are recognised as a liabilty and an expense. Critical accountin estimates and areas of ud ement In preparing financial statements it is necessary to make certain judgements. estimates and assumptions that affect the amounts recognised in the financial statements. The followng judgements and estimates are considered by the trustees to have the most significant effect on amounts recognised in the financial statements: Support cost allocation The allocation of support costs from Group Professional servI￿s is based on estimates of the resources used by Group Professional Services on each of these acb"vities. 16 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Notes to the financial statements For The Year Ended 31 December 2024 {continued) 2. DONATIONS AND GRANTS Unrestrfcted fund5 R8sirf¢ted lund5 Total fut)ds Total funds 2024 2024 2024 2023 Donations under Grfl Aid Income tax recovered Other donations and grants TJ.741 22.753 399.817 4É11.31 245.820 136.2 5.693.154 8,075.180 319,561 158,959 6.092,971 6.571,491 367.207 159.743 8.543.78 9,070,738 3. BOOKING FEES & OTHER INCOME Uhmtvkt fvnds 2024 R•tstri¢tsd Total Total 2024 2024 2023 Booking Fees- Retreats & Events Booking Fees- Focus Evenl Booking Fee5- Transform Event Interest and Other Income 13.925 1.337.925 13,925 1.337,925 1.263.045 1.838 19),204 1.543.892 1,838 190,204 1.543.892 59.707 64.859 1.427.611 The booking fee income recaved ks rdaled lo ¥arhyJs retreat5 to suFwI dwgy thw"r fam*e5. Additkinaty. Focus. the annual bng weekend away lor Ihe HTB NeNYork. look ￿8¢0 In 2024. The iota cosi ol E¥eth$ aM￿*Y 10 E2.478.513 {2023. E2.195,3421, wih £67.5)6 12023." £41,202> aIlw￿le￿ lo Relre015, t2.404.88512023". £2.022.6221 lor F(Ku$, aThJ t4.122 f(* Tran5fixrn 12Q23". f131.5181. 4. EXPENtXTURE 4a An•ly•l• of oxpondlturo The lolwng ta￿e andyse$ expendllure on the Slatemerrt of F5n8Th￿ ISOFAI b8h•wi &8Ct SLVPOrt CO8is have be8n 8Ioc8ied to the c*egories tha basL8d*t¥*l)8d *)vcknd kn *W￿l*¥j Ih*n. DI￿t ¢oil• 2024 Support co¥t• 2024 Tot41 ¢￿ts 2024 Ch•rtt•blo actl¥ltlo• Cleryy Training arbd Preparation Grants Mission Giving lexdLK15ThJ Socw Tr*wfcfmaikJn Gr￿ see 4cl Other Ministry and opera11￿* Costs 1.504.71S 760.7S6 1.589.4eKI 93,705 5,825 184,504 1,598.420 766.281 1,773.964 Love Your Neighbour Granl81880 nole 4¢ & 4dl Love ChrI51maB Ltsve cl1￿5 Love Ukr8in9 258.302 454.725 50,365 71,013 123,255 27,022 329.315 577.980 77,387 Love Your Neighbour operabc￿ Costs IseÈ note 4d) 648.792 58,292 705,084 Focus Direct and SUP￿ Costs 2,264. 139,935 2,404,885 Fundral#lng General Love Your Ne￿hbO 286.987 53.574 49,493 16,092 336.480 69.666 Totsl on Ststemont of Flnanclal Actlvlt 7M72.828 788,936 8.839.562 Di￿1 ¢o•ts 2023 Support toit8 2023 Total c¢xts 2023 Charltsble actlvlties Clergy Training a￿1 Preparation Grants a￿1 Mission Giving lexduding SOC￿ Tra￿(Irmati￿n se2 4GI Other Minislry and Oppration4 Costs 1.988.eAKI 1.796.121 1.139.799 87,099 6,485 172.564 2.075.699 1.802.606 1.312.363 Love Your Neighbour Grants (see nole 4c & 4dl Love Chri51ma5 Love CilEs Love Ukrainp 418.553 7.521 37.749 28.328 45.459 12.879 446.881 1.012.980 50.628 Love Your Neighbour Operati(￿1 Costslsee nDte 4dl 43.463 6B4.013 Focus Direct and Supwt Cos15 1.894.529 128.092 2.022.622 Fundraising costs General Love Your Neyht FOCUS 182.7 237.203 137.912 137.912 Total on Stat8m&nt of Flnanclal A¢tivitle8 9.W.212 717,832 9.784.044 17 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Notes to the financial statements For The Year Ended 31 December 2024 (continued) 4b Support costs The following SUPFK)rt Costs have ￿en allocated to the charitsble aL*vthes above". 2024 2023 Facilities and property Costs 161.692 143.235 252.500 119.262 90.247 157.263 132.963 231.251 109.468 85.467 1.420 717.832 Finan HR Legal Focus Total Support C08ts 766.936 4c Grant8 Grants and Mlsslon Glvlng lexcludlng Love Your Nelghbour Grants) Unr85trict8d R•5tr1cted' fund8 funds 2024 2024 Total fund• 2024 Total fund8 2023 Gr¥ntg9 St Paul's Shadwall All Hall¢)ws Church Bow Sl John's Hampton Wick Holy Trinity Parish Margate Ligmhouse London The St Luke5 Mission Initiats've Sl Peterfs Bnghlon Sl Pètarfs Brockley Sl Michael & St Georg¢ Sl Peterfs Bethn81 Green Sl Luke's Blackburn st John at Hacknèy Holy Trinity Clapham Chri61 Church Feltham Sl Luke's Oseney c￿Cent Sl Barnabas Sl Le￿egarIuS Chur Sl Culhrnan's Church Brighton Central Church Brist Coulsdon St John's Church Sl Marks Church Milcham Sl Mark's Teddington Sl Paul's Bnxton Sl Thomas Norwich The Light Church Netsvork Christchurch Camberwell Gosport South Manchestèr Sl James in the City Liverkwl Sl Swithin's Lincoln St Paul's Theok)gical Centre AZ Alliance PCC of Leatherhead Preston Minster Family Lrfe and Relationships Trust Other Grants £10,000 and under 82,381 62,191 56.492 50.000 37.093 35.755 62.381 62.191 56.492 50,000 37.093 35.755 35.000 32.851 32.000 29.147 29.000 27.375 24.530 21.515 20.709 17.374 12.000 11.200 10.000 10.000 10.000 10.000 10.000 10.000 10.000 10.000 6,100 1,000 54S 188 64.342 48.424 49.924 35.751 17.5S4 35,￿0 32.851 32.000 28.147 29.000 27.375 24,530 21.515 20.709 17.374 12.000 11.200 10.000 10.000 10.000 10.000 10.000 10.000 10.000 32.443 1,000 12.$65 12.377 28.097 20.403 17.842 11.867 10,000 6,100 1,000 545 188 15.000 50.000 25.000 50.000 950.000 120.000 45.001 25.000 14.000 152.732 15.828 60.482 76.310 61,828 698,928 760,756 1,796,121 Support Costs 5.625 5.825 6.485 Total Grants and Mlsslon Glvlng lexcludlng Soclal Tronsfornia¢lon Grants) 67.453 698,928 766,381 1.802,806 he grants frtsm fftstricted funds take acc(xJnt of the $￿ificatI(￿ of partioJlar¢J)nc¥s, but all giants a￿ subject to the ￿VieW, sign-off and approval of 18 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Notes to the financial statements For The Year Ended 31 December 2024 (continued) 4c Grants continued Love Your Neighbour Grants The grants below were 811 awarded from Re$￿e￿ fuThJ$ in connection with Lov8 Your N8ighbour athvity.. Love Love Cili85 Christmas including Total Total Ukraine 2024 2024 2024 2024 2023 Grantse Hdy Trinity Brompton St G8oroe's Gateshead LCC Community Trust Harbour Church Portsmouth Audacious Church M8nche518r Gas Street Church Birmingham PCC Southampton City Centre SOUL F￿ndatIOn Nor¥trich St John's Church cr￿eY Hackney Church London pha Intern8t1￿81 PCC St Johns Church 20.000 20.000 1.250 25,000 15,000 15,000 20,000 20,000 25,000 18,000 20,000 20,000 20,000 45,000 36,500 29,250 27,500 27,130 26,000 26,000 26,000 23,750 23,500 22,532 22,000 21,250 20,312 20,000 17,500 17,000 16,875 16,290 15,360 15,000 15,000 15,000 15,000 15,000 11,500 11,500 10,500 10,367 10,000 10,000 10,000 10,000 5,400 5,175 5,000 1,386 1,000 20,000 54,916 41,090 58,100 45,102 100,000 31,746 54,650 52,500 90,761 18,450 22,366 45,000 47,108 60,000 52,000 40,000 37,000 1,000 1,500 13.QXI 4.630 3.750 22.532 t2.000 6.250 312 10,000 15,000 20,000 20,000 15,000 15,000 15,000 10,000 KingsGal8 Community Church Petwbgrtyjgh Trent Vineyard St Swithun'j Church B￿MemoUth De8tiny Church Glasgow Soulhsde Thg C3 C8mbndgg King's Church Aberdeen St Paul's Hamrner5rnith Hdy Trinity Hagtings B&A Chur¢h Brist Food & community Trust. Sheffield Jesus Hou$e London St Werburgh's Church Emmaus Road Guildford North Church UK, L88d8 St Luke'$ BlaCk￿rn Hdy Trinity Gu8rns8y Vlneyard Compa$$ion All Nation5 Church Wolverhampton Hill$ong Chur¢h London Hillsong Newcasue Jubilee Chur¢h Pattem Church Swind PCC of St Barnabas ChurGI L¢)nd¢)n Life Church Ministries River Church Ipswich St Thtsmas and Kilvey Swansea Nets￿rk Church Sheffield Bnstol CCRC Trust Sanctuary Foundation St Catherine'5 Church Gorseinon Other Grants £10,000 and under 1.875 15.360 15,000 15,000 40,614 15.1]00 15.000 15.1]00 20,000 20,000 20,000 10,000 10.000 10,000 20,000 10,000 10,000 10,000 10,000 6,190 19.8331 68,911 53,703 13,941 s.4￿¥ 15,000 12,300 20,000 35,500 12,000 60,000 31,250 11,799 10,500 100,326 1,423,823 86,6S8 1,510,489 5.175 4.250 10.000 112.8641 89,650 258.302 71.013 329315 6.725 454.725 123.255 STI.980 10.440 50.365 27.022 77.387 106.815 763,392 221,290 984.682 Support G051s Totsl Love Your Nelghbour Grants 19 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Notes to the financial statements For The Year Ended 31 December 2024 {continued) 4d Lov8 Your Noighbour Analysii The fdknV￿￿g latAe ar•ses Love Yw NeKJlknaWeAP￿drtu[e ￿ the Statementof A(thibes ISOFAI ttheen unre51ri&ed restricted fu￿1￿. Unrestrictod Restricted 2024 2024 Total fund8 2024 Total funds 2023 AII LYN is Restricted Lovtr Your Neighbour Grants Lov8 Chrlslmas Love CilEs Love Ukrainp Lovè YL￿r Neighbour Operat1L￿ Costs 329.315 5T7.980 77.387 774.750 1,759,432 329,315 577.960 77.367 TT4.750 1.759,432 446,881 1.012,980 50,628 684,013 2.194,502 . AUDIT COSTS AND DEPRECIATION Not Incorng I lexpendlturo) Is statsd after ¢￿￿91￿￿- 2034 2023 Audito¢s r8muntrraiion 6,780 11.550 8,780 11,550 Depre&ation 5,224 3,250 . STAFF COSTS 2024 2023 W8Q88 8nd 848rfes So¢lal secudly costs Penslon eosls 2.180,530 244.591 115.410 2.540,531 1.948,033 197,540 86,665 2.232,238 As dlsdosed kn r￿10 14 Irdaled parWe81, there Ls 8 c4088 betswn HTB. AI. SPTC. 8nd RT. The Grw Profes￿¢￿* Sefv*es slafi support dl of th8 ch&rii*s ￿th'b6¢k oftKè' lurrtlK)ns are employtd by HTB. and their cosis1iogeih*r *ilh th& o)sis of th•r twmenisi we dloc4ied 8mong the èMil*S Using th& most apptopnale ba515 lor SU￿0￿ seNGg, The stall Go$15 rfryrna1h￿ In IIMS role inclx*s the w(vMt￿ate share 01fvs9 Group ProfessK)nal Servic95 514rf. 85 wdl a5 the relevant Share of min151ry slaff vtho spll lime amfKq (harrt￿ lo Ihe nalwe ol Ihwr rc*5. Tho c051s o150me members of Ihe cleroy were uoss- charged forwork which was d￿e for RT. Hth¥ew, as th888 dergy memt4rs are emF4tyed ty thè Dtsx8se cl Londcn not by HTB, Ih8ir c061s have not baen iDcJud&d In Ihe salaryflgures shovm above. Thtr avèragÈ monlhty numb¥ olfull lime 4uni*nt ¢mpWs i&xtWr¥J dergyl was 4512023."43.891 The number ol ?MFwees￿0Se 10t￿ b8nefft8 l&Kdu￿9 p8ns*Jn Y￿rance}*￿e weater than £60.CIJO was 512023.. 41, a6 folow8.' £60K. E70K bracket- 1 £70K. E80K bracket- 1 £gOK. EIthK bracket- 1 £120K.E130k bracket- 1 £130K-E140k brxket- 1 None of the IFuslees re￿￿￿11 rerNr￿r?tX￿ for seNtx$ as ¢n¥knyees rx ¢knng ￿r. tyfor as ￿slee$l2023. eNI. Furlher delails c4n be found In noie 14 (Related Parties). The key man*Jemeni porK￿￿￿ ol RT coryrtS8s cl ihe Revilali58Trust Clief Exeujlfve Ollcw IRT CEO). Ch￿1 OFwallng Otfic8r ICOOI and Lo¥8 Your NeIghb￿r Chlef EX￿11¥• Officer ILYN CEO). The iota empw tsen￿rts linduthNJ pensic•) Emtty NICI Y*re £373,730 12023." £346,375). The key rnanagem￿l personn￿ of ￿e centr* serwice lunc11r￿ wthich serves HT8. W. SPTC. RT compnse of It￿ Grw) Chiel Operating offi￿[. Group Director of Professional Servkes and the Gmup Finance Direc¢￿. The to￿1 enwthee ￿neffiS linthdTrJ aTrJ EmFWr NICI of these key management p8rsr￿nd were £370,98012023". £319,780), but RT onty bore a pc*tion of these cosis ol E76.20912023." E58.292}. Redund8rcyllerminalKin payments lotaled £4,127 for Ihe yew 12023.. £NII. and sla1￿￿Y ￿er￿S as as ex*ralk4 am￿*11S ¥thre these wwe consKlered appropriate. This incKbJes RT'S share of any Grwp Profess￿* S￿$ retha￿ar￿a*S. 20 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church R8vitalisation Trust Notes to the financial statements For The Year Ended 31 December 2024 IcoDtiDuedl 7. TANGIBLE FIXED ASSETS Computer Equipment Other Equipment Totsl COST Cost as al 1 2024 Addition5 Di5POsds Cosl as al 31 December 2024 6.818 4.965 4.38g 7.394 8.943 6.600 15,761 11,565 4,38 22,937 15.543 DEPRECIATION Depreo81ion bm Deprec181ion for the year DIspos81s Depred81ion clf 6,818 1,155 4,369 3.584 5,896 4,089 12,514 5,224 4,389 13.349 9.765 NET BOOK VALUE At 31 December 2023 3.247 3,247 At 31 DeGernber 2024 3.810 S.771 9,58B . DEBTORS 2024 2023 Other Deblc Prepayments Accrued Incom& B818nce owed from Awh8 IMemaI￿naI Trade Dab1￿8 VAT Conlrc4 Accoum 3,173 360,279 265,655 76 3,418 39,173 349,954 104,868 1,8(M) 3,295 342 499,432 6)Z,001 .CASH AT BANKAND IN HANO 2024 2023 Balance al bank and 170.734 6 515,810 10. CREDITORS Updated 2024 Updatod 2023 Amount• f•lllng duo wlthln ono y&8r. Accruals Balanca owed 10 HT8 Grants COMM￿18￿ bul unpdd Sundry creditors Tradtr creditors T8xaiion and soc￿¥ security Deferred Income VAT Conirc4 Account 17,612 168.539 191.524 10.567 380.949 43.464 56.326 17.287 4,089 436,693 9,055 84,916 41,136 11. ANALYSIS OF NET ASSETS BY FUND Unr•itrkt•d lunds 2024 Roltricttd fund# 2024 Totsi fund 2024 2024 N•t A*#•ts by Fund Fund An•ly#l# Fixed as5els Current a55els Current liaknlities g.S88 3.705.(V 1557.7971 9.588 6,803.335 1886,2681 3.098.239 1328.4711 Fund b8LwKe 2,769,768 3,156,887 5,926,655 Urbrnstricted funds 2023 Restricted funds 2023 Total fund5 2023 2023 NetAssets by Fund Fund Anal￿1$ Fixed as5els Curreni 8ssels Current liaknlNies 3.247 4.112.662 1227.0821 3.247 7,015.242 1587,6551 2.gJ2.580 1340.5931 Fund baK4n 2.S61,987 3.888,847 6,450.834 21 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE ChuKh R8Vltalisation Trust Notes to the finan¢ial Statements For The Year Erbded 31 Dècembtrr 2024 I￿ntinu￿1) 12. RESTWCTED FUNDS Oppnlng balanc• 2024 Closlng balance 2Q24 Adjuslrnent 2024 Income 2024 Expgnditurg 2024 Movement on r8strict8d funds 2024 Planting Curato4- stipw. accommodabrffi. tr4rury *k15UFPOrtrftJrts preparin9 to plant chUr*￿S 478.786 1,577,740 11,837,682> 809.367 E$t4to5- revitalising churche5 in Estates Urbw Areas vAh *rivatK 326.856 I150,￿)) 825 I1￿,000) 77.381 Granls and Mi¥¥lon Giving- seed ca￿1￿. orvJoYbg suppryl plants & network churc￿$ arK1 support of P8lw stream wd*Jaies 1.402.&11 11.027.403) 298,922 1422,7671 251.063 Focu•- Grfts gi¥en towards F￿$ and RT Gor•J W(rfks 11,048) 1,094,373 11,Cg4,3731 Expan¥lon ol RT'¥ 0ct1vl￿eI- cost5 assOC￿818d Fknb"ryJ. and fundraisln9 737.618 181.0401 1,810,t4)) 11,777,955) 688.623 Other mlnl•try and operatlonal ¢￿ts- olher 49,e81 7,725 157,4061 Love Your N•lghbour- induding 8 gr8nt Irom Ihe Department ror Le¥e*r#J Up, Houshg and CommunlU8s 1.091.010 713,260 1.285,595 11,759.4321 1,330.433 4.037.M9 93.693 6.075.180 7.049.635 3.156 867 Opènlng lanco 2023 Cloilng balanc8 2023 Adlu•tm•nt 2023 Incom• 2023 Expondltur• 2023 Movemont on mtrlct•d lund• 202J Pl8ntlng Curats•. 8lip**l, 8ccommodation. SUFPOn pr9p8ring lo ptsnl 7*.074 1.676.089 11.996.377) 478.786 Eitats•- r&vi181ising churches in Estal8S *)d urb￿ Areas vAlh *riv8t 326.856 Grant* 8nd Mllilon Glvlng- seed c&￿￿1£1. oivJoivJ SUPPth1 fcy plants & nefviork thurthps and supporf of strtram t*dKlaiés .rJ1 2.962.101 11.810.OWI 1,402.331 Focus- Gffts given towards F￿6 and RT GOOJ Wuks 1.283.045 11.$51.5691 1.048 Expanslon ol RT'• actlvltl•i- cost8 a8SOCk8ted *ith ￿&￿erSh￿l and fundraisin9 578.578 1338.9601 737.618 Othor mlnlstry and opor*tlonal c¢xts- olh 113.025 1204.4181 LO￿ Your N•lghbour- Ir￿uding a grarf thè Depanmeth fw Levth Up, Houslng and Communities 1.6W,134 1.595.378 12.194.502) 1,091.010 3.803.558 8.129.938 17,895.8461 4,037.649 IJ. COMMITMENTS The lea5e5 Qf property for rjwgy ar£4)mmodolw held by HTB •d have sew*ePrf in IIK)5e 51alements. 22 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Notes to the financial statements For The Year Ended 31 December 2024 {continued) 11 RELATED PARTIES None of the In￿leeS ¥￿e reimburs￿1 exppnses dutvw they￿. REMUNERAnoN FOR NON TRUSTEE SERVICES TRUSTEE OR KMP RELATED TRUSTEESHIPS RELATED PARTY PAYMENTS Angus Winlhef HTB PCC ITtUslee & ¢hurdN¥ardenl. St Paths The0hg￿l Centre ITrusleel, Sl Melilus Trust (frusleel. Ethsra$l￿al InsuraKe PLC It*reclorl and Bertel￿4 Grtyjp PLC It￿1t unl4 24 September 2024}. £NI12023. £NII EcCles￿ts￿a1 Bcts as Insurers iD the HTB Group The 2024 Insuran￿ prernium IN RT m￿￿ed to £L.23612023 £16.689I. Dunng 2024 RT received funding of t33.23312022 tNIll for LYN. Irorn Be￿I￿l Trust. Archie Coatès. HTB PCC ITrusiee and l. ￿pha IniematKmal (frusieei, si Paul's TheolDgical Centre (Trusieel. Sl Me*lu$ c￿ege Ttusl ITnJ5teel. 12023". ENII Se8 bekn*for rel*ed enMylransathon8. Adem(4a Adebaio. London Dioces￿ ITru5teel 0ndAzNJw￿ It￿e{ apprynled 14 Oclober 2024). £NI12023'. £NII RT hO￿S a dose ￿TkIng relatlonshlp thè LiJndDn Diocese. wilh all HTB Curaie8 bthng hcertsÈd under th& LiJndDn Diocèsè. Dunn9 2024 RT ièCèiv£d funding of f802,741 12023 t626.0891 lty SMF ano SDF, thfouoh 8 lo￿1 rmd &￿tTh L￿aOn DIoco99. Naomi Maxwel" Ire51gned 23 S8plemb8r 20241 The Parrthial Churth Ccwnd Of The E¢de￿￿ P3TLsh Of Hackney (SAINT). £NI12023. £NII Se¢ Delow reiawo enbiytransgcbons. Saroh Jackson Sl PaLI's TheokngKa Centr¢ IT￿steal. Churth Lld IDireGtorl. ￿ AZ Ltd I￿"reCI￿ £NI12022. £NII Tom Jackson Ihusbandl IS CEO of LYN %ththin RT Furthar dBla115 ar8 Inc￿d￿d undgr Tom ja￿Son'S InJS188 diSc105ura. Tom Jackson Resurgo Consuityn9 *)d Rewrgo (Founder {*nce 2ri)3}'. Exec￿liv& Ch&rman Ifmm 202￿20231. Chamwi of Trus￿8$ (from 2024)), ENI12022. £NII Sarah J8(*gon Iwrfo) Is CEO of RT. Tom Jackson 1$ CEO ol LYN wlhin RT. Awuner81ion ol Ine CEOS 1$ ovorsoon by A8muner8lion Commill80 8no *un8a off by 1ThO R8$urgo work cb$•ty RT prov￿1￿9 •dvlc4 Impau m6•&uremeni •nd Irwnlno. TThof& 18 •morwdum ol Undersi•ndino betrfveen HT8. RT 8nd R￿ura0 ¢ovenno In•s• Truslee A Key Management Personnel The10ial donaiims made by trusiees for 2024 vias £i.n5.5riJ 12023." £4,301.2DJI. 23 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Notes to the financial statements For The Year Ended 31 December 2024 (continued) RELATED PARTIES ¢ontinued ENTITY INCOME expENfATURE TOIIFROMI RT AT YEAR END NOTES Hc4y Trinty BrompiM IHTBI £250.000 12023." É250.0(X)I E649.863 12023". É70Y.4531 {E166.5391 12023-. 1È11.61611 HTB m*es ￿ amua1uy￿1 io RT. In 2023 2￿4. HTB r￿Ved s￿altransfOrMall0n grants from RT as part of rts Love Your In￿at￿? (see n￿e 4cl. In addition, RT funds c051s of off£ornrnon Fund c*rgy wh0f0￿ part of RTS planting Fipehr* and undergo t￿[ trainin9 ai FtrB. RT bears a wcpxton of the GroLP profe￿On￿ Services costs. which are noi I￿￿ded ￿ this note refer to note 4b for further detail Sl Paul's Thedogical Centre ISPTCI £N 12023. £NII £NI 12023". £950,to)I In 2023, RT aw4rd8d a grant lo SPTC I￿ 5UPPQrt of IhF Peter & Cs Slr¥ams. anoftythtr gtrwal oflhtr 12023". £N St Mellitus C(Alege ISMCI £373.119 12023.. £276.￿) £281,9J8 12023.. I£NII RT Peier stream ￿U￿￿t5 year by pAyln9 Iheir lee3 10 SMC. RT p8K1 SbAC t373.119I2￿3. Q76.3451 lor Cgbb Powr StrO8m c￿￿¥8 Feos. 121Y23'. £NII Apha Inlemalional IAII £22.532 12023. E18.W} £76 (2023. £1.8CQ) RT 8w8r4ed grwt of f22.53212023 E18 4501 IiTr Alptta IDle[nat￿￿ lowards IhB r051 of the Apha AMENA Supwt Director for uk¢*￿. paid from sp8C41ierJiNthe Love ukrain Inrtrt*we. {2023. £NII Resurgo TNSI £112 12023.. £10.7541 £W•l 12023.. Nil) A of Unoerswnoin9 1$ In pig¢8 b8iw8on RT sno Re$urg0. The K4ou rf teguwy WOY•O Dy th8 ￿al0 and ￿1 Paym￿•￿8{￿9￿90OO. 12023.- £NII Re$urgo SpBar Cpnire$ £10.011 12023.. £70.37SI £MI 12ff23.. tN RT P9￿ R•wr90 Spow Cm$ t18.011 12023 £70,375) for 121Yk3.. tNII cl1￿￿ Church, Cardrff £NU12023 £Nill E2.105 12tr23.. e5.8WI £M'I Ciuzw Ctsjrch Is an HTe Networt Churth. Grants were 4¥Yard•d In both 2023 aThY 2024 cl Rfs 5upporL The Parochlal Church Couwl Of The Ecdesiasiical Parish 01 Hackney (S￿NTI £N 12023.- £NII £50.875 12023. E67.9931 £N'I 12023. 1£2.Cfj211 SAI￿ IJ ai HTB Netth Ctturch. Granls were awarded a¥ part of R T, Love Y¢yJt N•WbOLY 10 support •n SMF lunderj ￿r818. AZ ￿lIance Ltd £55.312 12023". £120.CIXII In 2024 RT emered ￿10 a se￿￿ment atrawemeDt bwlh AZ Aliancé Ltd, under sialt member Is shared bBlween the Iwo organisaiions. RT In 2023, lThards the wtsth ￿ AZ Aiiartè Lld. NO grants YMe m*Je tOA2 AfAaKe Lld duDng 2024. 12023.- £NII 12023 (Nill) 24 Docusign Envelope ID.. E4979178-735E4F9O-9lA7￿D342CcFEBBE Church Revitalisation Trust Notes to the financial statements For The Year Ended 31 December 2024 {continued) 15. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES The foll(Ming table analyses 2023's incorne and expenditure tel￿￿8n unreslr%Xed and restri(tsd funds." Unreslricted funds 2023 Restricted funds 2023 Total funds 2023 INCOME Donation8 ond le9acieo Donations and grants Btsoking fees & tsther income 2.223.846 144.566 6,846.892 1,283,045 9,070,738 1,427,611 2.368.412 8.129.937 10,498,349 EXPENDITURE Expenditure on Raising fund8 Costs of raising funds 37.293 338. 376,253 Expènditurè on eharitable activit1•¥ Clergy training and pr8par8tion Grants and mission giving lexdu¢Jing Love Your Ne¥Jht￿ur grants Other ministry and oper8lion81 c051s 79.322 1,99S.377 2,075,899 192.6C6 1.107.945 1,610.000 204.418 1,802,606 1,312,383 Lov¢ Y￿r Ntighbtsur 9fdnts and support 2,194,502 2, 194,502 FOCUS 471.033 1.551.589 2,022,622 Total ex￿nditU 1.888.198 7.895.846 9,784,044 Net Ineomoll•xp•ndltur•l 480.214 234,091 714,305 Funds brought forward 1.932.971 3,803.SS8 5,736,S29 Funds carrltd forward at 31 D•e•mbèr 2.413.185 4,037,649 6,450,834 25