## **Trustees’ Annual Report for the period** **From: 01/01/2024 To 31/12/2024** ## **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|2024 has been a remarkable journey filled with wisdom
and new connections with Gospel Entrepreneurs across
the UK and Northern Ireland. At the start of the year, God
reminded us to trust in Him wholeheartedly and to listen
to His voice in all we do. This guidance has kept us on
track and has been a cornerstone of our mission.
***_New Connections_***: Over the past 12 months, we have
established numerous new links with around 100
Gospel Entrepreneurs, expanding our network and
model.
***_Events_***:
throughout the year, we successfully held 10 different
day events in various regions which include London,
Leeds, Cornwall, Northen Ireland, and Scotland. These
events continue to provide valuable opportunities for
networking, learning, wisdom intake and growth and
prayer support.
***_Annual Gathering_***:
In March, we hosted a 24-hour gathering with around 50
Gospel Entrepreneurs. This event featured insightful
input from key speakers and was a highlight of our year.| _*_ _**Strategic Planning**_ ***:** We conducted two strategic planning days with our mentors and trustees, ensuring that our vision and goals are aligned and focused for future developments of Gospel Entrepreneurs. * _**Podcasts***_ **:** in partnership with UCB radio, we were able to release two new GE series of podcasts, each consisting of six episodes. The first series was launched in March 2024, and the second in November 2024. These podcasts have been instrumental in sharing insights and stories from our community of Gospel Entrepreneurs. * _**Speaking Engagements, travels & partnerships**_ *: Throughout the year, I was invited to many different churches and speaking engagements/conferences. These opportunities have been a fantastic way to link with new networks and denominations. I spent a week in the US, sharing about Gospel Entrepreneurs in a church near Fresno, whilst visiting friends. Additionally, I made several trips to Northern Ireland, Budapest, Montenegro and Madrid, with Every Home for Christ, as our partnership continues to invest in GE in Europe. Kuala Lumpur have embraced our model and GE video series, we are very excited about the upcoming opportunities as these will be presented in 3 different locations in KL, Joshua Hong, National President of the Association of NexGen Christians of Malaysia (ANCOM), is our Gospel Entrepreneurs Malaysia's official partner. Steve Gee, one of our Associates, is now also working part time for Vineyard Churches UK & Ireland as their new Church Planting Preparation Lead. As part of his new role, Steve will be helping church planters from across the UK & Ireland. Our partnership with Vineyard will be a significant step this coming season. ## _***Reflections and associates*:**_ Throughout the year, we have been reminded of the importance of both the destination and the journey. For an entrepreneur, the journey is significantly shaped by the companions along the way. Our focus on being Gospel-centred and missional has been richly rewarded with new relationships and opportunities for God to work within us and with us. Our team was recently joined by Matt Timms in Cornwall and Linda Watt, in Northern Ireland, two new associates who are developing a great group in each of their regions. ## _***Looking Ahead*:**_ As we move forward, we are excited about the continued growth and impact of our network and ministry. We |||remain
committed
to
supporting
and
coaching/mentoring Gospel Entrepreneurs, hosting
impactful events, and creating innovative ways to
connect and inspire this generation.
The ongoing mentoring/coaching is proving a success,
so we are planning and producing a new video for
mentors and mentees, which should go live in 2025.
We are thrilled to be partnering with Stewardship and
The Way Studios on this new initiative called 40 Acts
2025, generosity challenge during Lent.| |---|---|---| |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 2024
was £62,914| |---|---|---| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|The Charity has 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|£390,750| |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** **----- Start of picture text -----**
Description of charity’s
trusts:
Type of governing document Para 1.25 Foundation Model
(trust deed, royal charter)
How is the charity Para 1.25 CIO
constituted?
(e.g unincorporated
association, CIO)
Trustee selection methods Para 1.25 Appointed by Trustees:
including details of any
constitutional provisions e.g. Note:
election to post or name of Caroline Taylor and Elijah Kirby have joined
any person or body entitled the Board of Trustees from 29/01/2024
to appoint one or more
trustees Brian Addis and Morola Hayden have
completed 3 years as Trustees in 2024 and
are happy to continue in role
Trustees are responsible for managing the
Charity in line with guidelines from the
Charity Commission.
The Board meets Quarterly with an AGM in
Q1 of the year. Minutes of key decisions
are recorded.
Key governance processes undertaken by
the Board include:
- Financial controls and management
processes
- Safeguarding processes
- Privacy (GDPR controls)
- Risk Management including review
of Operational, Financial, and
Reputational risks.
Risks reviewed at Board currently include
- Maintaining strong Financial
Stewardship, Leadership roles
including Succession planning,
Protection for consultants in
advisory/mentor capacity
**----- End of picture text -----**
## **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 Revelation Trust - GE
PO Box 7082
Rugby
CV21 9WD
**----- End of picture text -----**
## **Names of the charity trustees who manage the charity** |1
2
3
4|**Trustee name**|**Office (if any)**|**Dates acted if not for**
**whole year**|**Name of person (or body)**
**entitled to appoint trustee**
**(if any)**| |---|---|---|---|---| ||Brian Addis|Chair of Trustees|Whole Year|Revelation Trust Board of
Trustees| ||Morola Hayden|SafeguardingOfficer|Whole Year|| ||Caroline Taylor||Part Year 29/01/2024 to
1/12/2024|| ||Elijah Kirby||Part Year 29/01/2024 to
1/12/2024|| – 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 accounts for the year ended 31st December 2024 which are set out on pages 8 to 13. Responsibilitie5 and ba51s of report As the Charity's trustees you are responsible for the preparation of the accounts In attordance with the requirements of the Charities Act 2011 Ithe Actl. I report in respect of my examinatSon of the Charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 14515llb} of the Act. Independent Examlner'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 records 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 concernin8 the form and content of accounts set out in the Charities (Accounts ancl Reports) Regulations 2008 other than anv requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. Alan right FCA htand Co artered Accountants 2 Longrood Road Rugby Warwickshire CV22 7RG Revelation Trust Statement of Financial Activlties Year ended 31st Decemtjer 2024 Unrestricted Total funds Total funds funds 2,024 2023 Note In¢ome: stewardship Direct Giving - Organisation Direct Giving - Individual Every Home for Christ Gift Aid Other Total Income and Endowments 66,119 96,652 27,916 5,098 6,238 1,869 203,892 66,119 46,434 96,652 133,532 27,916 19,091 5,098 7,284 6,238 5,108 1,869 3,520 203,892 214,969 Expendlture on: Charitable activities Consultancy Marketing Administration support Website and online support Travel and subsislen¢e Residenlials 95.263 3,841 8.035 225 8,762 17.695 95,263 3,841 8,035 225 8,762 17,695 81,105 3,S72 2,073 180 19,302 8,925 F !!' Biblelcollege events Mentoring Gift General expenses Grant lo Seed Fund Governance costs Accountants fees Total expendlture 369 1.000 2,250 2.746 369 1.000 2,250 2.746 4,255 3,000 792 140,978 792 720 140,978 123,132 Net gainsllosses on investments Net income 82,914 62.914 91,837 Transfers between funds 62,914 62,914 91,837 Other recognlsed galngllosses Bank inlerte$t received 4236 4,236 Not movemont in funds 67,150 67.150 91,837 Reconclliatlon of funds: Total funds brought forward 323,600 323,600 231763 Total funds ¢arrfed forward 390.750 390,750 323,600 All income and expenditure derive from continuing actvities. Revelatlon Trust Balance Sheet Year ended 31st Decombgr 2024 2024 2023 Note Cash at bank and in hand 391,470 324,320 Total Assets 391,470 324.320 Creditors: amounts falling due within one year 720 720 Net assgts 390,750 323,600 Charity Funds Unrestricted funds 390,750 323,800 Total charity funds 390.750 323,600 The financial statements were approved and aulhorised for issue by the 8oard on Signed on behalf of the Board of Trustees.. The notes on pages 8 10 12 form part of these fi'nancial statements. Revelation Trust Notes to the Financial Statements Year ended 31st December 2024 Summary of slgnlflcant accountlng pollcles lal General Informatlon and bas15 of preparation The Charity Is an unincorporared charity. Its only voting members are its charity trustees. It Is governed by its CIO Consiitution dated 29th March 2018. The Charity constitutes a public benefit entity as defined by FIIS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Ch3ritle5.' Statement of fecommended Practice applicable to Charities preparin8 their at¢o*knts in 3¢cordance with the Financial Reporting Standard applicable in the UK and Rebublic of Ireland IFRS 1021 issued on 16th July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Att 2011. and UK Generally Accepted Practi￿ as 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 15 the functional currency of the charitv. The signlfl¢ant accounting pollcies applled in the preparation of these financial statements are set out below. In addition policies have been included which the trustee5 expect to become relevant as the Charity grow5. Ibl Funds Unrestri¢ted funds are available for use at the discretion of the trustee5 in furtherance of the general objective5 of the Charity and have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purpopses. The aim and use of each designated fund is set out in the notes to the financial statèments. Restricted funds are funds which are to be used in accordance with specific restrictions imposed bv donors or which have been raised by the Charity for particular purposes. The cost of iaising and adrninistering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Icl Income reco8nition All incominB resources are included in the Statement of Financial Activitieis ISOFAI when the Charity is legally entitled to the income after any performance torndition5 have been met, thè amount can be measured reliably and it is probable that the income will be recetved. For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writinB. If there are conditions attached to the donation and th5s re4Ulfe5 a level of performance before entitlement can be obtained then Trncome is deferred until those ¢tsnditions are fully met or the fuifilment of those condittons 15 Wlthin the control of the Charity and it is probable that they will be fulfilled. io Revelation Trust Notes to the Financial Statements Year ended 31st December 2024 Icl Income recognltlon Icontlnuedl Donated facilities and donated professional Services are recognised in incorne at their fair value when their economic benefit is probable, it can be measured reliably and the Chariiy has control over the item. Fair value is determined on the basi5 of the value of the gift to the Charity. For example ihe amouftt the Charity would be willin8 to pay in the open markei for such facilities and services. A corresponding amount is reco8ni5ed in expenditure. No amount Is included In the flnanclal staternents for volunteer tlme in Ilne with the SORP IFRS 1021. For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received. At this point income Is recognised. On occasion legacies may be notified to the Charity however it is not posslble to measure the amount expected to be distributed. On these occasions, the legacy would be treated a5 3 contingent asset and disclosed. Income from trading activities includes income earned fron fundraising events and trading activities to raise funds for the Charity. Income is le￿Ived in exchange for supptying goods and services in order to raise funds and is rèco8nised when entitlement has occurred. Idl Expenditure recognition All expenditure is accounted for on an acccruals basis and has been classed under heading5 that aggregate all costs related to the tategory. Expenditure is reco8nised where there is a le8al or cor15tructive obli8atign to make payments to third parties, it 15 probable that the settlement will be requTrred and the amount of the obligation can be measured reliably. It 15 categorised under the following headin85'. Costs of raising fvnds,. Expenditure on tharitable activitie5; and Other expenditure repre5entS those items not falling into the categories above. Irrecoverable VAT is charged as an expense against the activity for whith expenditure arose. Grants payable to third part1è5 are within the charitable objertive5. Where unconditional 8fant5 are offered, thi5 is occurred as soon as the recipient 15 notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is not only accrued when any fvlfilled conditions are outside of the control of the Charity. li Revelation Trust Notes to the Financial Statements Year ended 315t December 2024 (e) Support Costs allocation Support costs are those that assist the work of the Charity but do not directly represent charitable tivitie5 and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Charity. Where support costs Cannot be directly attributed to particluar headinBS they have been allocated to cost of raising funds and expenditure on Charitable activities on a a bas15 COnSlStent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating infomiation in support of the charitable activities. {f) Tangible fixed assets TanEible 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 as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost. less estimated resldual value, of each asser on a systematic basis over its expected useful life. (g) Provisions Provisions are recognised when the Charity has an an obligation at the balance sheet date as a result of a past event, it is probable that an ourflow 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 o* schedule 2 of the Charitie5 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. lil Going concern The financial stateTnents have been prepared on a going concem basis 3$ the trustees believe that no material untertainities exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial 5tatement5. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a 80in8 concern. 12 Revelation Trust Notes to the Financial Statements Year ended 31st December 2024 2 Trustees remuneration and expenses The trustees neither received nor waived any remuneration during the period. 3 Stsff costs and employee benefit5 The Charity has one employee. 2024 Gross salary Pension contribution 11.991 411 12.402 4 Credltors: amounts falllng due wlthln one year 2024 2024 Accrual 720 720 5 Fund reconciliation Balance at OV0112024 Income Bank nterest 8alance at 3111212023 Expenditure Transfers Unrestricted 323.600 203.892 140,978 4,236 390,750 323,600 203.892 140,978 4,236 390,750 Fund descriptlons. al Unrestricted funds ale donations and other incoming resources receivable or generated for the objects of the Charity without any further specialised purpose and are available a5 general funds. 6 Analysis of net assets between funds Unrestricted funds 2024 Total Cash and current investments Current liabilities 391,470 -720 391,470 -720 Total 390,750 390,750 7 Related party trannsactlons The only transactions with related parties were unrestricted donation5 received from tru5tee5. These totalled £3,68012022 £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 accounts for the year ended 31st December 2024 which are set out on pages 8 to 13. Responsibilitie5 and ba51s of report As the Charity's trustees you are responsible for the preparation of the accounts In attordance with the requirements of the Charities Act 2011 Ithe Actl. I report in respect of my examinatSon of the Charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 14515llb} of the Act. Independent Examlner'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 records 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 concernin8 the form and content of accounts set out in the Charities (Accounts ancl Reports) Regulations 2008 other than anv requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. Alan right FCA htand Co artered Accountants 2 Longrood Road Rugby Warwickshire CV22 7RG Revelation Trust Statement of Financial Activlties Year ended 31st Decemtjer 2024 Unrestricted Total funds Total funds funds 2,024 2023 Note In¢ome: stewardship Direct Giving - Organisation Direct Giving - Individual Every Home for Christ Gift Aid Other Total Income and Endowments 66,119 96,652 27,916 5,098 6,238 1,869 203,892 66,119 46,434 96,652 133,532 27,916 19,091 5,098 7,284 6,238 5,108 1,869 3,520 203,892 214,969 Expendlture on: Charitable activities Consultancy Marketing Administration support Website and online support Travel and subsislen¢e Residenlials 95.263 3,841 8.035 225 8,762 17.695 95,263 3,841 8,035 225 8,762 17,695 81,105 3,S72 2,073 180 19,302 8,925 F !!' Biblelcollege events Mentoring Gift General expenses Grant lo Seed Fund Governance costs Accountants fees Total expendlture 369 1.000 2,250 2.746 369 1.000 2,250 2.746 4,255 3,000 792 140,978 792 720 140,978 123,132 Net gainsllosses on investments Net income 82,914 62.914 91,837 Transfers between funds 62,914 62,914 91,837 Other recognlsed galngllosses Bank inlerte$t received 4236 4,236 Not movemont in funds 67,150 67.150 91,837 Reconclliatlon of funds: Total funds brought forward 323,600 323,600 231763 Total funds ¢arrfed forward 390.750 390,750 323,600 All income and expenditure derive from continuing actvities. Revelatlon Trust Balance Sheet Year ended 31st Decombgr 2024 2024 2023 Note Cash at bank and in hand 391,470 324,320 Total Assets 391,470 324.320 Creditors: amounts falling due within one year 720 720 Net assgts 390,750 323,600 Charity Funds Unrestricted funds 390,750 323,800 Total charity funds 390.750 323,600 The financial statements were approved and aulhorised for issue by the 8oard on Signed on behalf of the Board of Trustees.. The notes on pages 8 10 12 form part of these fi'nancial statements. Revelation Trust Notes to the Financial Statements Year ended 31st December 2024 Summary of slgnlflcant accountlng pollcles lal General Informatlon and bas15 of preparation The Charity Is an unincorporared charity. Its only voting members are its charity trustees. It Is governed by its CIO Consiitution dated 29th March 2018. The Charity constitutes a public benefit entity as defined by FIIS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Ch3ritle5.' Statement of fecommended Practice applicable to Charities preparin8 their at¢o*knts in 3¢cordance with the Financial Reporting Standard applicable in the UK and Rebublic of Ireland IFRS 1021 issued on 16th July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Att 2011. and UK Generally Accepted Practi￿ as 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 15 the functional currency of the charitv. The signlfl¢ant accounting pollcies applled in the preparation of these financial statements are set out below. In addition policies have been included which the trustee5 expect to become relevant as the Charity grow5. Ibl Funds Unrestri¢ted funds are available for use at the discretion of the trustee5 in furtherance of the general objective5 of the Charity and have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purpopses. The aim and use of each designated fund is set out in the notes to the financial statèments. Restricted funds are funds which are to be used in accordance with specific restrictions imposed bv donors or which have been raised by the Charity for particular purposes. The cost of iaising and adrninistering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Icl Income reco8nition All incominB resources are included in the Statement of Financial Activitieis ISOFAI when the Charity is legally entitled to the income after any performance torndition5 have been met, thè amount can be measured reliably and it is probable that the income will be recetved. For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writinB. If there are conditions attached to the donation and th5s re4Ulfe5 a level of performance before entitlement can be obtained then Trncome is deferred until those ¢tsnditions are fully met or the fuifilment of those condittons 15 Wlthin the control of the Charity and it is probable that they will be fulfilled. io Revelation Trust Notes to the Financial Statements Year ended 31st December 2024 Icl Income recognltlon Icontlnuedl Donated facilities and donated professional Services are recognised in incorne at their fair value when their economic benefit is probable, it can be measured reliably and the Chariiy has control over the item. Fair value is determined on the basi5 of the value of the gift to the Charity. For example ihe amouftt the Charity would be willin8 to pay in the open markei for such facilities and services. A corresponding amount is reco8ni5ed in expenditure. No amount Is included In the flnanclal staternents for volunteer tlme in Ilne with the SORP IFRS 1021. For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received. At this point income Is recognised. On occasion legacies may be notified to the Charity however it is not posslble to measure the amount expected to be distributed. On these occasions, the legacy would be treated a5 3 contingent asset and disclosed. Income from trading activities includes income earned fron fundraising events and trading activities to raise funds for the Charity. Income is le￿Ived in exchange for supptying goods and services in order to raise funds and is rèco8nised when entitlement has occurred. Idl Expenditure recognition All expenditure is accounted for on an acccruals basis and has been classed under heading5 that aggregate all costs related to the tategory. Expenditure is reco8nised where there is a le8al or cor15tructive obli8atign to make payments to third parties, it 15 probable that the settlement will be requTrred and the amount of the obligation can be measured reliably. It 15 categorised under the following headin85'. Costs of raising fvnds,. Expenditure on tharitable activitie5; and Other expenditure repre5entS those items not falling into the categories above. Irrecoverable VAT is charged as an expense against the activity for whith expenditure arose. Grants payable to third part1è5 are within the charitable objertive5. Where unconditional 8fant5 are offered, thi5 is occurred as soon as the recipient 15 notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is not only accrued when any fvlfilled conditions are outside of the control of the Charity. li Revelation Trust Notes to the Financial Statements Year ended 315t December 2024 (e) Support Costs allocation Support costs are those that assist the work of the Charity but do not directly represent charitable tivitie5 and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Charity. Where support costs Cannot be directly attributed to particluar headinBS they have been allocated to cost of raising funds and expenditure on Charitable activities on a a bas15 COnSlStent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating infomiation in support of the charitable activities. {f) Tangible fixed assets TanEible 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 as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost. less estimated resldual value, of each asser on a systematic basis over its expected useful life. (g) Provisions Provisions are recognised when the Charity has an an obligation at the balance sheet date as a result of a past event, it is probable that an ourflow 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 o* schedule 2 of the Charitie5 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. lil Going concern The financial stateTnents have been prepared on a going concem basis 3$ the trustees believe that no material untertainities exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial 5tatement5. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a 80in8 concern. 12 Revelation Trust Notes to the Financial Statements Year ended 31st December 2024 2 Trustees remuneration and expenses The trustees neither received nor waived any remuneration during the period. 3 Stsff costs and employee benefit5 The Charity has one employee. 2024 Gross salary Pension contribution 11.991 411 12.402 4 Credltors: amounts falllng due wlthln one year 2024 2024 Accrual 720 720 5 Fund reconciliation Balance at OV0112024 Income Bank nterest 8alance at 3111212023 Expenditure Transfers Unrestricted 323.600 203.892 140,978 4,236 390,750 323,600 203.892 140,978 4,236 390,750 Fund descriptlons. al Unrestricted funds ale donations and other incoming resources receivable or generated for the objects of the Charity without any further specialised purpose and are available a5 general funds. 6 Analysis of net assets between funds Unrestricted funds 2024 Total Cash and current investments Current liabilities 391,470 -720 391,470 -720 Total 390,750 390,750 7 Related party trannsactlons The only transactions with related parties were unrestricted donation5 received from tru5tee5. These totalled £3,68012022 £4,080) 13