## **Trustees’ Annual Report for the period** **From: 01/01/2023 To 31/12/2023** ## **Charity name: Revelation Trust** ## **Charity registration number:1177756** ## **Objectives and Activities** ||SORP
reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The advancement of the Christian religion
mainly, but not exclusively, by means of
broadcasting Christian messages of an
evangelistic and teaching nature.
To advance the Christian religion in for the
benefit of the public through the holding of
prayer meetings, lectures, public celebration
of religious festivals, producing and/or
distributing literature on the Christian faith to
enlighten others about the Christian religion.
The prevention or relief of poverty by
providing: grants, items and services to
individuals in need and/or charities, or other
organisations working to prevent or relieve poverty| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.|Para 1.17
and 1.19|**Gospel Entrepreneurs**
In 2023 we held 6 regional gatherings of learning
communities for Gospel Entrepreneurs in social
enterprise, business and ministry, like church planting.
We have been investing in young leaders, between the
age of 25 and 40 years old, to see them reach their full
potential, to take the seed of an idea and to see it
flourish.
It has been very exciting to witness and be a part of,
we have some great people that have come alongside
us. This year we held our first National gathering. We
brought those 45 people together, from all around the
country, UK, Wales, Scotland, and NI; for 24hours.
This was a great time of worship, talks, prayer and
connecting with like-minded people. We plan to have
another one in March 2024, as well as growing the
regional gatherings particularly with the launch that we
held in Scotland last August and next month in
Northern Ireland.
**Associates**
We have taken on a couple of associates overseeing
particular areas. Laura Brett is overseeing female
Gospel Entrepreneurs, like Steph, a director of
Coventry Youth for Christ, a few business ideas
around the creative expression and gifting that some
of these people have, such as developing china with| bible verses around them, jewellery making, Lj in Northen Ireland, starting Hope For Every Home Ireland, sharing the good news and many resources. We invest in those ideas and in the individuals, and so Laura oversees this very gifted and diverse group. We also have Steve Gee, who is a Vineyard pastor for the region, here in the Midlands and on the executive, he is overseeing our church planting development, where he has invested so far in 5 new plants that we are looking at moving forward with, where he is coaching and mentoring those individuals. We have seen great developments this year, we have also taken on two people that were in business. One that ran a very successful solicitors practice in London, Paul Harvey; another one who is a director in Dunelm’s retailers. They are both keen to coach and mentor this age group, to give input and keep the Gospel front and centred in business but not exclusively. We are thrilled with the development of the team this year, and the fact that we have gone Global, with Roy’s latest trip in September to Kuala Lumpur. We have connected with two very significant leaders in business, working in a Muslim country, where they would like to see Business and the Gospel impacting their community. **Every Home for Christ** The other link is with Every Home for Christ, in their Europe younger leaders investment, investing in them, so that they reach their goal over the next 15 years, working with them to find more entrepreneurial Gospel Leaders, within that space to see that developed. **UCB podcasts** The UCB podcasts series continues to be reaching out about 1500 people, every time we post a new one, people tend to revisit them as well, so I expect it will reach more. We have launched a new series of 6 podcasts in October 2023 alongside UCB, which has been great. **Mission Hubs** We are partnering with mission HUBS, CCX the Gregory Centre, a group in which we are keen to invest in and see how plans can unfold. Looking at Bi vocational church leadership with John McGinley. They have taken the 5-video series of Gospel Entrepreneurs, that we produced early this year, and will be using it within their communities and links. One example is being held in Hull. We have 3 groups looking at how they can invest in this as a ministry model in that space, which is another great partnership. **Infrastructure** We have invested a little more on our social media platforms, with Linked In, Facebook and we can see a vast growth in that. . |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public benefit|Para 1.18|The Trustees have had regard to the guidance issued
by the Charity Commission on public benefit| |---|---|---| ## **Achievements and Performance** **----- Start of picture text -----**
SORP
reference
**----- End of picture text -----**
|SORP
reference|SORP
reference|SORP
reference| |---|---|---| |||| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|The charity has consolidated its delivery
stage in 2024 completing its third full
calendar year with several new initiatives
launched effecting real change in local
communities and church leaders (see
activities listed above) including:
-
Gospel Entrepreneur Learning Days
across the UK
-
Mission Hubs
-
Every Home for Christ partnership
-
UCB Podcast series
-
Infrastructure investments for
growth| ## **Financial Review** |Review of the charity’s
financial position at the end
of the period|Para 1.21|The charity remains in a strong financial
position
Net increase in reserves held at end 2023
was £91,838| |---|---|---| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|The Charity has now built up a level of
reserves to fund project activities and to
make a sustainable level of grant making.
All reserves are currently held in Bank
Deposits| |Amount of reserves held|Para 1.22|£324,320| |Reasons for holding zero
reserves|Para 1.22|Not Applicable| |Details of fund materially in
deficit|Para 1.24|Not Applicable| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|Not Applicable| **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|Foundation Model| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|CIO| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|Appointed by Trustees:
Note: At the Revelation Trust AGM
29/01/2024 2 new Trustees were approved
by the Board – Elijah Kirby and Caroline
Taylor.
Elijah and Caroline will be reflected in the
Trustees section of the next annual report
for 2024| ## **Reference and Administrative details** **----- Start of picture text -----**
Charity name Revelation Trust
Other name the charity uses None
Registered charity number 1177756
Charity’s principal address 8a Market Place
Rugby
CV213DU
**----- End of picture text -----**
**Names of the charity trustees who manage the charity** **----- Start of picture text -----**
Name of person (or body)
Dates acted if not for
Trustee name Office (if any) entitled to appoint trustee
whole year
(if any)
Brian Addis Chair of Trustees Whole Year Revelation Trust Board of
1
Trustees
Mike Pollard Part Year 01/10/2023 to
2
1/10/2023
3 Morola Hayden Safeguarding Officer Whole Year
**----- End of picture text -----**
– Corporate trustees names of the directors at the date the report was approved **Director name** None Name of trustees holding title to property belonging to the charity |**Trustee name**|**Dates acted if not for**
**whole year**|| |---|---|---| |None||| ## **Funds held as custodian trustees on behalf of others** |Description of the assets
held in this capacity|None| |---|---| |Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects|Not Applicable| |Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own
assets|Not Applicable| ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details Not Applicable ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s) Full name(s)** Brian Addis **Position (eg Secretary,** Chair **Chair, etc) Date** 20/01/2024 Revelation Trust Independent Examiner's Report to the Trustees of Revelation Trust I report to the Charity trustees on my examination of the accourits for the year ended 31st December 2023 which are set out on pages 7 to 12. Re5pon5ibilitie5 and basis of report As the Charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 Ithe Act). I report in respect of my examination of the Chartty's account5 carried out under Section 145 of the Act and in carrying out my examination I have followed all the applicable Directions 8iven by the Charity Commisslon under Section 14515llbl of the Act. Independent Examiner's Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting record5 were not kept in respect of the Charity as required by section 130 of the Act.. or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the atcounts give a 'true and fair view, which is not a matter considered as part of an independent examination. Peter Wright FCA right and Co Chartered Accountants 2 Longrood Road Rugby Warwickshire CV22 7RG Revelation Trust Statement of Financial Activities Year ended 31st December 2023 Unrestrlcted Total funds Total lunds fund$ 2023 2022 Note Income: Stewardship Direct Giving Organisalion Direct Giving - Individual Every Home for Christ Gift Aid other Total Income and Endowments 46,434 133,532 19,091 7,284 5,108 3,520 214,969 46,434 71,491 133,532 82,500 19,091 14.660 7.284 9,364 5,108 4.414 3,520 2,585 214,969 185,014 Expenditure on.. Charitable aclivilie Consultancy Marketing Admini5trats'on support Website and online support Travel and subsistenee Residentials Biblelcollege events Rer*l Postage General expenses Grant to Seed Fund Governance cos Accountants fees Total expendlture 81,10S 3.572 2.073 180 19.302 8,925 81,105 3,572 2,073 180 19,302 8,925 63,859 3,225 6.832 810 3,933 2.739 7,350 333 87 4.168 3,000 87 4,168 3.000 2,120 720 123,132 720 123.132 1,320 92.S21 Net gainsllosses on investments Net Income 91,837 91.837 92.493 Transfers between funds 91,837 91,837 92.493 Other recognised gainsllosses other gainsllosses Net movement in funds 91,837 91,837 92.493 Reconclliatlon of fund8: Total funds brought forward 231,763 231.763 139270 Total funds carried for•vard 323,600 323,600 231.763 All income and expenditure derive from continuing actvities. Revelation Trust Balance Sheet Year ended 31st December 2023 2023 2022 Note Cash at bank and in hand 324,320 232,483 Total Assets 324.320 232.483 Creditorn: amounts falling due wlthln one year 720 720 Net assets 323,600 231,763 Chatlty Funds Unrestricted funds 323,600 231,763 Totsl chanty funds 323,600 231,763 The financial statements were approved and aulhorised for issue by the Board on Signed on behalf of the Board of Trustees.. The notes on pages 8 to 12 form part of these financial statements. Revelation Trust Notes to the Financial Statements Year ended 315t December 2023 Summary of slgnlficant accountin8 policies lal General information and basls of preparation The Charity is an unincorporated charity. Its only voting members are its charity trustees. It 15 governed by its CIO Constitution dated 29th March 2018. The Charity constitutes a public benefit entity a5 defined by FRS 102. The finantial statement5 have been Prepared accordan￿ with Atcountin8 and Reporting by Charities.. Staternent of recommended Practice applicable to Chèrities preparing their accounts in accoidance with the Financial Reportin& Standard applicablè in the UK and Rebublic of Ireland IFRS 1021 issued on 16th July 2014. the Financial Reportin8 Standard applicable in the United Kingdorn and Republic of Ireland IFRS 1021, the Charities Act 2011, and UK Generally Accepted Practice a5 it applies from 1st January 2015. The financial statements are prepared on a going concern basis under the historical cost convention, The financial statements are prepared in sterling which Is the functional currency of the charity. The significant accounting policies applled tn the preparation of these financial staternents are set out below In addition pol&cie5 have been included which the trustee5 expect to become relewdnt as the Charity grows. Ibl Funds Unrestricted funds are available for use at the discretion of the trustees In furtherance of the general objectives of the Charity and have not been designated for other purposes. Designated funds comprise unrestricted fund5 that have been set aside by the trustee5 for particular purpopses. The aim an(J use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrlctions imposed by donors or which have been raised by the Charily for particular purposes. The cost of raising and administerir*8 such funds are charged against the specific fund. The alrn and use of each restrirted fvnd is set out in the notes to the flnancial statements. Icl Income recognition All incoming resource5 are included In the Staternent of Financial Activitieis ISOFAI when the Charity is le8ally entitled to the income after any performance conditions have been met, the amount can be rneasured reliably and it Is probable that the income will be received. For donations to be recognised the Charity will have beèn notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income 15 deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfllled. io Revelation Trust Notes to the Financlal Statements Year ended 31st December 2023 Icl Income recognitlon l¢ontinuedl Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the Charity has control over the item. Fair value is deterrnined on the basi5 of the value of the gift to the Charity. For example the amount the Charity would be willin8 to pay in the open market for such facilities and services. A ¢orresponding amount is recognised in empenditure. No amount is includèd in the financial statement5 for volunteer time in Sine with the SORP IFRS 1021. For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the le8acy being received. At this point in¢(Ime is recognised. On occaslon legacies may be nc*tified to the Charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy would be treated as a contin8ent asset and dts¢losed. Income from trading activities includes Incoffle earned fron fundraising events and trading activities to raise funds for the Charity. Income is re￿1Ve￿ in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Idl Expenditure re¢ognltlon All expenditure 15 accounted for on an acccruals basis and ha5 been classed under headin85 that aggregate all costs related to the category. Expenditure is recognised whefe there is a legal or constructive obligation to make payments to third parties. it is probable that the settlement will be required and the amount of the obligation can be measured rellably. It is categorised under the following heading5'. Costs of raising funds; Expenditure on charitable activities; and Other expenditure represents those item5 not falling into the categorie5 above. Irrecoverable VAT Is charged as an expense against the activity for whtch expenditure arose. Grants payable io third partie5 are within the charitable objectives. Where unconditional 8rant5 are offered, this 15 occurred as 500n as the recipient is notified of the grant, as this 6ive5 rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relatin8 to performance then the grant is not only accrued when any fulfillèd tonditions are outside of thè control of the Charity. li Revelatlon Trust Notes to the Financial Statements Year ended 31st December 2023 (el Support costs allocation Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, governance cost5, and administrative payroll costs. They are incurred directly in support of expersditure on the objects of the Charity. Where support costs cannot be directly attributed to particluar headings they have been allocated to C05t of raising fLtnds and expenditure on charitable activities on a a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not inclLEde the costs of disseminating information in support of the charitable activSties. If) Tangible flxed assets Tangible fixed assets are stated at cost lor deemed costl or valuation le55 accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating a5 intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life. Ig) Provlslons Provisions are recognised when the Charity ha5 an an obligation at the balance sheet date a5 a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. (h} Tax The Charity in an exempt charity withiin the meaning of schedule 2 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. {1) Going concem The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainities exist. The trustees have considered the level of funds held ond the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserve5 for the Charity to be able to continue as a going concern. 12 Revelation Trust Notes to the Financial Statements Year ended 31st December 2023 2 Trustees remuneration and expenses The trustees neither received nor waived any remuneration during the period. 3 Staff costs and employee beneflts The Charity has one employee. 2023 Gross salary Pension contribution 8,820 258 9,078 4 Creditors: amounts fallln8 due within one year 2023 2022 Accrual 720 720 5 Fund reconclllailon Balance at 0110112023 Income Gainsl losses Balance at 3111212023 Expenditure Transfers Unrestricted 231.763 214,969 123,132 323,6(X) 231,763 214,969 123,132 323,600 Fund descriptions. al Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the Charity without any further specialised purpose and are available as general funds. 6 Analysis of net a55ets between funds Unrestrlcted funds 2023 Total Cash and current investments Current liabilities 324,320 -720 324,320 -720 Total 323,600 323,600 7 Related party trannsactions The only transactions with related parties were unrestricted donations received from trustees. These totalled £3,68012021 £4,080) 13 Revelation Trust Independent Examiner's Report to the Trustees of Revelation Trust I report to the Charity trustees on my examination of the accourits for the year ended 31st December 2023 which are set out on pages 7 to 12. Re5pon5ibilitie5 and basis of report As the Charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 Ithe Act). I report in respect of my examination of the Chartty's account5 carried out under Section 145 of the Act and in carrying out my examination I have followed all the applicable Directions 8iven by the Charity Commisslon under Section 14515llbl of the Act. Independent Examiner's Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting record5 were not kept in respect of the Charity as required by section 130 of the Act.. or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the atcounts give a 'true and fair view, which is not a matter considered as part of an independent examination. Peter Wright FCA right and Co Chartered Accountants 2 Longrood Road Rugby Warwickshire CV22 7RG Revelation Trust Statement of Financial Activities Year ended 31st December 2023 Unrestrlcted Total funds Total lunds fund$ 2023 2022 Note Income: Stewardship Direct Giving Organisalion Direct Giving - Individual Every Home for Christ Gift Aid other Total Income and Endowments 46,434 133,532 19,091 7,284 5,108 3,520 214,969 46,434 71,491 133,532 82,500 19,091 14.660 7.284 9,364 5,108 4.414 3,520 2,585 214,969 185,014 Expenditure on.. Charitable aclivilie Consultancy Marketing Admini5trats'on support Website and online support Travel and subsistenee Residentials Biblelcollege events Rer*l Postage General expenses Grant to Seed Fund Governance cos Accountants fees Total expendlture 81,10S 3.572 2.073 180 19.302 8,925 81,105 3,572 2,073 180 19,302 8,925 63,859 3,225 6.832 810 3,933 2.739 7,350 333 87 4.168 3,000 87 4,168 3.000 2,120 720 123,132 720 123.132 1,320 92.S21 Net gainsllosses on investments Net Income 91,837 91.837 92.493 Transfers between funds 91,837 91,837 92.493 Other recognised gainsllosses other gainsllosses Net movement in funds 91,837 91,837 92.493 Reconclliatlon of fund8: Total funds brought forward 231,763 231.763 139270 Total funds carried for•vard 323,600 323,600 231.763 All income and expenditure derive from continuing actvities. Revelation Trust Balance Sheet Year ended 31st December 2023 2023 2022 Note Cash at bank and in hand 324,320 232,483 Total Assets 324.320 232.483 Creditorn: amounts falling due wlthln one year 720 720 Net assets 323,600 231,763 Chatlty Funds Unrestricted funds 323,600 231,763 Totsl chanty funds 323,600 231,763 The financial statements were approved and aulhorised for issue by the Board on Signed on behalf of the Board of Trustees.. The notes on pages 8 to 12 form part of these financial statements. Revelation Trust Notes to the Financial Statements Year ended 315t December 2023 Summary of slgnlficant accountin8 policies lal General information and basls of preparation The Charity is an unincorporated charity. Its only voting members are its charity trustees. It 15 governed by its CIO Constitution dated 29th March 2018. The Charity constitutes a public benefit entity a5 defined by FRS 102. The finantial statement5 have been Prepared accordan￿ with Atcountin8 and Reporting by Charities.. Staternent of recommended Practice applicable to Chèrities preparing their accounts in accoidance with the Financial Reportin& Standard applicablè in the UK and Rebublic of Ireland IFRS 1021 issued on 16th July 2014. the Financial Reportin8 Standard applicable in the United Kingdorn and Republic of Ireland IFRS 1021, the Charities Act 2011, and UK Generally Accepted Practice a5 it applies from 1st January 2015. The financial statements are prepared on a going concern basis under the historical cost convention, The financial statements are prepared in sterling which Is the functional currency of the charity. The significant accounting policies applled tn the preparation of these financial staternents are set out below In addition pol&cie5 have been included which the trustee5 expect to become relewdnt as the Charity grows. Ibl Funds Unrestricted funds are available for use at the discretion of the trustees In furtherance of the general objectives of the Charity and have not been designated for other purposes. Designated funds comprise unrestricted fund5 that have been set aside by the trustee5 for particular purpopses. The aim an(J use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrlctions imposed by donors or which have been raised by the Charily for particular purposes. The cost of raising and administerir*8 such funds are charged against the specific fund. The alrn and use of each restrirted fvnd is set out in the notes to the flnancial statements. Icl Income recognition All incoming resource5 are included In the Staternent of Financial Activitieis ISOFAI when the Charity is le8ally entitled to the income after any performance conditions have been met, the amount can be rneasured reliably and it Is probable that the income will be received. For donations to be recognised the Charity will have beèn notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income 15 deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfllled. io Revelation Trust Notes to the Financlal Statements Year ended 31st December 2023 Icl Income recognitlon l¢ontinuedl Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the Charity has control over the item. Fair value is deterrnined on the basi5 of the value of the gift to the Charity. For example the amount the Charity would be willin8 to pay in the open market for such facilities and services. A ¢orresponding amount is recognised in empenditure. No amount is includèd in the financial statement5 for volunteer time in Sine with the SORP IFRS 1021. For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the le8acy being received. At this point in¢(Ime is recognised. On occaslon legacies may be nc*tified to the Charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy would be treated as a contin8ent asset and dts¢losed. Income from trading activities includes Incoffle earned fron fundraising events and trading activities to raise funds for the Charity. Income is re￿1Ve￿ in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Idl Expenditure re¢ognltlon All expenditure 15 accounted for on an acccruals basis and ha5 been classed under headin85 that aggregate all costs related to the category. Expenditure is recognised whefe there is a legal or constructive obligation to make payments to third parties. it is probable that the settlement will be required and the amount of the obligation can be measured rellably. It is categorised under the following heading5'. Costs of raising funds; Expenditure on charitable activities; and Other expenditure represents those item5 not falling into the categorie5 above. Irrecoverable VAT Is charged as an expense against the activity for whtch expenditure arose. Grants payable io third partie5 are within the charitable objectives. Where unconditional 8rant5 are offered, this 15 occurred as 500n as the recipient is notified of the grant, as this 6ive5 rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relatin8 to performance then the grant is not only accrued when any fulfillèd tonditions are outside of thè control of the Charity. li Revelatlon Trust Notes to the Financial Statements Year ended 31st December 2023 (el Support costs allocation Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, governance cost5, and administrative payroll costs. They are incurred directly in support of expersditure on the objects of the Charity. Where support costs cannot be directly attributed to particluar headings they have been allocated to C05t of raising fLtnds and expenditure on charitable activities on a a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not inclLEde the costs of disseminating information in support of the charitable activSties. If) Tangible flxed assets Tangible fixed assets are stated at cost lor deemed costl or valuation le55 accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating a5 intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life. Ig) Provlslons Provisions are recognised when the Charity ha5 an an obligation at the balance sheet date a5 a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. (h} Tax The Charity in an exempt charity withiin the meaning of schedule 2 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. {1) Going concem The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainities exist. The trustees have considered the level of funds held ond the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserve5 for the Charity to be able to continue as a going concern. 12 Revelation Trust Notes to the Financial Statements Year ended 31st December 2023 2 Trustees remuneration and expenses The trustees neither received nor waived any remuneration during the period. 3 Staff costs and employee beneflts The Charity has one employee. 2023 Gross salary Pension contribution 8,820 258 9,078 4 Creditors: amounts fallln8 due within one year 2023 2022 Accrual 720 720 5 Fund reconclllailon Balance at 0110112023 Income Gainsl losses Balance at 3111212023 Expenditure Transfers Unrestricted 231.763 214,969 123,132 323,6(X) 231,763 214,969 123,132 323,600 Fund descriptions. al Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the Charity without any further specialised purpose and are available as general funds. 6 Analysis of net a55ets between funds Unrestrlcted funds 2023 Total Cash and current investments Current liabilities 324,320 -720 324,320 -720 Total 323,600 323,600 7 Related party trannsactions The only transactions with related parties were unrestricted donations received from trustees. These totalled £3,68012021 £4,080) 13