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2021-03-31-accounts

Charity Registration No. 1185137

SPEAK LIFE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

SPEAK LIFE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs Y Ibbett
Mr J Dale
Pastor R Owen
Mr P Bhogal
Mrs C Brindley
Mr S Foster (Appointed 2 December
2020)
Charity number 1185137
Principal address 13 Lismore Road
Eastbourne
East Sussex
BN21 3AY
Independent examiner M N Preece BA FCA DChA
c/o Price & Company
30-32 Gildredge Road
Eastbourne
East Sussex
BN21 4SH

SPEAK LIFE

CONTENTS

Page
Trustees report 1 - 3
Independent examiner's report 4 - 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 18

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021

SPEAK LIFE

The trustees present their annual report and financial statements for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Deeds of Association , the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

Speak Life was a brand and operating name of our ministry work under Hour of Revival. In September 2019 the Hour of Revival formed a Charitable Incorporated Organisation (CIO) under the name Speak Life (charity number 1185137). All the assets of the Hour of Revival Association transferred to Speak Life with effect on 1 April 2020. Speak Life works with four groups of beneficiaries:

  1. Christians growing in faith and gospel understanding ,

  2. Church Leaders encouraging members to live out their faith ,

  3. Individuals wanting to learn about the Christian faith ,

  4. Students studying and training with our Union Learning Community.

The objects of the charity are:

The main strategic goals for 2020/21 were:

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Media

The COVID restrictions provided Speak Life with a ‘unique position’ to further encourage Christians and resource the Church. We released over 100 videos on YouTube, including our RESET series, and have gained almost 2.5 million views since first launching the channel in 2015. Numbers, the spoken word of the CEO, Rev Glen Scrivener, achieved 39,000 views.

In February Glen produced a standalone video entitled ‘Who are you in the Story?’ This video has since been viewed on over 77,000 occasions and has led to a series of interviews and videos with the likes of Diane Langberg, Sam Alberry, Lori-Anne Thompson, Steve Baughman, and Lee Furney. In combination these interviews have been viewed in excess of 166,000 times and as a result of this series we have seen an increasing number of individuals reaching out to us over email and in the comments.

SPEAK LIFE

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Speak Life Daily

The SLD contains 31 good news stories from around the world. It has continued to be collated each quarter (in June, Sept, Dec and Mar) and distributed to over 1250 subscribers.

Training and The Foundry

We continue with the Foundry, our 10-month programme where individuals develop their creative and evangelist giftings, alongside receiving weekly theological training.

Max Patterson, a first year alumni, continues on with Speak Life as a Freelance Production Assistant and we have welcomed 2 new students on to our second intake, which started in September 2020. Applications for the third intake have gone well with 5 residential and 1 remote student joining us in 2021.

Speaking Engagements and Publications

Our speaking ministry was adversely affected by the national COVID restrictions, and there was a need to cancel, postpone or move engagements online. Despite these restrictions Glen was able to speak at a number of engagements, albeit online, and we had a full diary of engagements booked for 2021.

Glen joined with Phil Moore contributing to the Hope at Easter CD.

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

Speak Life is a Charitable Incorporated Organisation (CIO), charity number 1185137, formed by The Hour of Revival Association on 1st April 2020. All asset and liabilities were transferred from The Hour of Revival Association on that date.

The trustees who served during the year and up to the date of signature of the financial statements were: Mrs Y Ibbett

Mr J Dale Pastor R Owen Mr P Bhogal Mrs C Brindley Mr S Foster (Appointed 2 December 2020)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

SPEAK LIFE

Staff (Trustees, Management, Staff & Volunteers)

This financial year saw Mrs C Brindley and Mr S Foster accept the position of trustee of Speak Life. Mr D Rackham (Foundry Director) left the charity in June 2020.

The remaining staff members all remained in their positions Rev Glen Scrivener (CEO, Ministry Director), Mr Paul Feesey (part-time Associate Evangelist) and Mrs Emily Lynch (Office and Finance Manager).

Mr Peter Staley was contracted to provide operational and strategic support and management services.

Asset cover for funds

While the Charity relies on continuing donations, legacies, covenants and other voluntary income to meet its expenses, the assets held at 31 March 2021 are considered to be adequate for the needs of the Charity.

The trustees r eport was approved by the Board of Trustees.

Mrs Y Ibbett

Trustee Dated: 28 January 2022

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SPEAK LIFE

SPEAK LIFE

I report to the trustees on my examination of the financial statements of Speak Life (the charity) for the year ended 31 March 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

SPEAK LIFE

INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF SPEAK LIFE

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

M N Preece BA FCA DChA

c/o Price & Company 30-32 Gildredge Road Eastbourne East Sussex BN21 4SH

Dated: 28 January 2022

SPEAK LIFE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted Unrestricted
Restricted
funds
funds
funds
general d esignated
2021
2021
2021
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
157,344
-
83,668
Charitable activities
4
3,000
-
25,800
Investments
5
43
-
-
Other income
6
12,902
-
5,152
Total income
173,289
-
114,620
Expenditure on:
Charitable activities
7
159,608
-
56,423
Net incoming resources before transfers
13,681
-
58,197
Gross transfers between funds
130,897
151,289
(16,420)
Net income for the year/
Net movement in funds
144,578
151,289
41,777
Fund balances at 1 April 2020
-
-
-
Fund balances at 31 March 2021
144,578
151,289
41,777		 Total
2021
£
241,012
28,800
43
18,054
287,909
216,031
71,878
265,766
337,644
-
337,644

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

SPEAK LIFE

BALANCE SHEET AS AT 31 MARCH 2021

Notes
Fixed assets
Tangible assets
11
Current assets
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one year
14
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
15
Unrestricted funds - designated
16
Unrestricted funds - general		 2021
£
821
36,757
217,052
254,630
(8,349)		 £
91,363
246,281
337,644
41,777
151,289
144,578
337,644

The financial statements were approved by the Trustees on 28 January 2022

Mrs Y Ibbett Trustee

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

Speak Life is a Charitable Incorporated Organisation (CIO) formed by Hour of Revival Association on 1st April 2020. All asset and liabilities were transferred from Hour of Revival on that date. The principle address is 13 Lismore Road, Eastbourne, East Sussex, BN21 3AY.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

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

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

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

SPEAK LIFE

1 Accounting policies (Continued)

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Income from grants are recognised at fair value when the charity has entitlement after any performance considerations have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

1.5 Expenditure

All expenditure is accounts for on an accruals basis and has been classified under heading that aggregate all costs related to the category. Expenditure is recognised where 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 reliably. All expenditure including support costs and governance costs are allocated or apportioned to the applicable expenditure headings, as noted below.

Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs. The are incurred directly in support of expenditure on the objectives of the Charity. Where the support costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.

Governance costs comprise of all costs involving public accountability of the Charity and its compliance with regulation and good practice. These costs include costs relating to the independent examination of the Charities accounts and legal fees. Where they cannot be directly attributed to particular headings they have been allocated o a basis consistent with the use of the resources.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

SPEAK LIFE

1 Accounting policies (Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% straight line Studio equipment 25% straight line Fixtures, fittings and equipment 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell .

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

SPEAK LIFE

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2021
2021
£
£
Donations and gifts
124,040
73,668
Legacies receivable
33,304
-
Stewardship COVID 19 grant
-
10,000
157,344
83,668		 Total
2021
£
197,708
33,304
10,000
241,012

4 Charitable activities

Other grants
receivable
2021
£
Performance related grants 28,800
Analysis by fund
Unrestricted funds - general 3,000
Restricted funds 25,800
28,800

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

5 Investments

Unrestricted
funds
general
2021
£
Interest receivable 43

6 Other income

Unrestricted
Restricted
funds
funds
general
2021
2021
£
£
Book sales and royalties
4,226
-
COVID 19 Job Retention Scheme income
8,676
5,152
12,902
5,152		 Total
2021
4,226
13,828
18,054

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

7 Charitable activities

Evangelism
& Mission
2021
£
Staff costs
62,758
Depreciation and impairment
2,420
Books given as gifts
99
Mailshots and Speak Life Daily
12,268
Media and production costs
23,861
Giving and grants
100
Other personnel costs
527
Foundry expenses
-
102,033
Share of support costs (see note 8)
47,993
Share of governance costs (see note 8)
2,400
152,426
Analysis by fund
Unrestricted funds - general
121,456
Restricted funds
30,970
152,426		 Prayer
centre
2021
£
-
401
-
-
-
-
-
-
401
-
-
401
-
401
401		 The
foundry
2021
£
20,516
-
-
-
6,449
1,315
90
8,634
37,004
26,200
-
63,204
38,152
25,052
63,204		 Total
2021
£
83,274
2,821
99
12,268
30,310
1,415
617
8,634
139,438
74,193
2,400
216,031
159,608
56,423
216,031

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

8 Support costs

Support
costs
Governance
costs
£
£
Staff costs
30,196
-
Depreciation
2,636
-
Building costs
10,415
-
Building renovations
290
-
Office costs
7,952
-
Administration costs
25,302
-
Vehicle costs
886
-
Travel and board expenses
(3,884)
-
Other personnel costs
400
-
Independent examination fee
-
2,400
74,193
2,400
Analysed between
Charitable activities
74,193
2,400		 2021
£
30,196
2,636
10,415
290
7,952
25,302
886
(3,884)
400
2,400
76,593
76,593

Governance costs includes payments to the independent examiners of £ 2,400 f or independent examination fees.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

10 Employees

The average monthly number of employees during the year was:

Administration and ministry
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2021
Number
3
2021
£
103,280
6,329
3,861
113,470

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

11 Tangible fixed assets

Freehold land
and buildings
Studio
equipment
Fixtures,
fittings and
equipment
£
£
£
Cost
Additions
81,516
3,896
11,408
At 31 March 2021
81,516
3,896
11,408
Depreciation and impairment
Depreciation charged in the year
1,630
974
2,853
At 31 March 2021
1,630
974
2,853
Carrying amount
At 31 March 2021
79,886
2,922
8,555		 Total
£
96,820
96,820
5,457
5,457
91,363

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

12
Stocks
Finished goods and goods for resale
13
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
Amounts falling due after more than one year:
Other debtors
Total debtors		 2021
£
821
2021
£
34,592
499
35,091
2021
£
1,666
36,757

An interest free loan to the Union School of Theology was transferred over from Hour of Revival on 1st April 2020. This loan is repayable by equal monthly instalments over a 5 year period from the original commencement date in June 2017 and ending in May 2022.

14 Creditors: amounts falling due within one year

Trade creditors
Other creditors
Accruals and deferred income		 2021
£
4,081
1,161
3,107
8,349

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

SPEAK LIFE

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:


Staffing - Operations and Strategic
Speak Life Centre
Christmas Project
Media & Outreach
Staffing - Evangelism
Three-two-one
Foundry Costs
Interns
Staffing - Foundry
Love Africa - Gifts International
Studio
Other		 Movement in funds
Incoming
resources
Resources
expended
£
£
20,000
(17,290)
-
(401)
26,042
(15,214)
18,681
-
4,531
-
1,465
-
28,230
(18,872)
4,100
-
621
(621)
930
(1,315)
10,000
(2,710)
20
-
114,620
(56,423)		 Transfers
Balance at
31 March 2021
£
£
(2,210)
500
23,005
22,604
4,084
14,912
(18,681)
-
(4,531)
-
(5)
1,460
(9,358)
-
(3,435)
665
-
-
2,001
1,616
(7,290)
-
-
20
(16,420)
41,777		 Transfers
Balance at
31 March 2021
£
£
(2,210)
500
23,005
22,604
4,084
14,912
(18,681)
-
(4,531)
-
(5)
1,460
(9,358)
-
(3,435)
665
-
-
2,001
1,616
(7,290)
-
-
20
(16,420)
41,777
41,777

Part of transfers in are due to the balance of the funds being transferred over from Hour of Revival on 1st April 2020 when all assets were transferred. These amounts are:

Love Africa - £2,001 Prayer Centre Capital - £23,005 Christmas Projects - £4,599

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

SPEAK LIFE

16 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds Movement in funds
Transfers
Balance at
31 March 2021
£
£
Operational costs - 6 months 120,000
120,000
Filming 321: The Evangelistic Course 30,000
30,000
Speak Life App 1,289
1,289
151,289
151,289

Transfers in are due to the balance of the funds being transferred over from Hour of Revival on 1st April 2020 when all assets were transferred.

17 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Designated
funds
Restricted
funds
2021
2021
2021
£
£
£
Fund balances at 31 March 2021 are
represented by:
Tangible assets
69,300
-
22,063
Current assets/(liabilities)
75,278
151,289
19,714
144,578
151,289
41,777		 Total
2021
£
91,363
246,281
337,644

18 Related party transactions

There were no disclosable related party transactions during the year .