Charfty reg1$tion number 1193986 {En9land and Wale81 Company r•9l$htlon number 13101459 SWELL REVOLUTION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Caladine Charlered CerliFied Accountonls
SWELL REVOLUTION LEGAL AND ADMINISTRATIVE INFORMATION Tru¥te N James J Lovell P Jame$ E Cutbng J Cuttlng IAppolnt8d 1 June 2024) IAppolnt8d 1 June 20241 clIty numb•r (England and Wale•l 1183988 Company nwnb•r 131014S9 R•gl•t•r•d offl¢• 10 Upperton Garden8 E*8tboume East Su8S• 8N212AH Ind•pend•nt •x•mlner John Caladine FCCA CTA FCIE Caladlne Llmltsd Chantry House 22 Upperton Road EA&tboume E88t Su58ex 8N21 1BF 8•nkerT HSBC 94 Terminuj Road Ea8tbourne E88t Sussex 8N21 3ND
SWELL REVOLUTION CONTENTS P•g• Trustees, ieport Indondent examlneV$ report Staternent of flnandal ocllvml Nob8 to the Ilnanthl Bt#lements 7-13
SWELL REVOLUTION TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Iruslees present their annual report and finand818laternents for the year ended 31 Decembtrr 2024. The Ifnancial statements hav8 been prepared In a¢cord8nce with the accounting poliues set cul in nole 1 to the ffin8ncial 51alernents and compty wrth the charltys goveming document, the Companles Ad 2006, FRS 102 Yhe Flnancial Reporting Standard 8ppIic8ble in the UK 8nd Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. St8temenl ol Recomrnended Pracbce app1I¢8ble to chantle$ prepaflni Ihelr accounts In 8ccord8n¢e whh the Financlal Reporlng Standonl applicable in the UK and R8public ol Iland IFRS 102}" Oble¢tlv•• and •ctivitle• Swell Revclution wa8 estatrAi6hed to r•ach mlllions of children and famllles wth tho good new8 of God's love lor them. OUT vlslon Is to produce the m051 professlon81 and enjoyable Chrtslian conlent for chlldren and youth (hat has ever btsen created in the UK. Our mi68lon is lo eqvlp churches, famllle8, 8th0018 and youth yroups across th• wortd, meeting the enormou$ need lor hlghqu81ity muttlmedia re50urce$ for a dlgttal generalbn. Our journey started in 2018. when Pate James began produdng chlldren's worghlp song¥ and rnuslc video¥. ¢r88llng the brand Cheeky Panda8, and Swell Revolution wa8 e8t8bllshed as a c*arity in 2021. More than 125,000 printed ¢ople$ of an 8ccomp4nySng AR prayer map were dl¥lritwJted to 8chool8, church85, and hou8es. Th8r• Is o signiflcant lack of good quallty, Blble.b88&LI dlgltal regources In the UK, yet research shows that almost haw of Chri$ll8ns come lo faith before the age of 11. YouTub8 use among >7-yearaolds now 8t8nd8 at 88%, watching an av¢r8ge of 3 hours a day, malnly cartoonÈ. Through Cheety Pandas we are reaching chIldn and familieB at a ¢rrtieal age, through a lomiot they love. polnung children and lamllies lo Chri8t. Cheety P8nda3 18 uniquety placed in th8t Its appeal to the unchurched Is vast, but (1 Ss al80 used by chur¢htr8 and famlll¢s as di3ripleshlp resouT¢Q, hewing thildren Io go detrper In thelr f811h. Cheety Panda8 18 our anlrnated TV $eries and sulte of reiuurces for childrén agod 3-8. Young chlldren fvJve high •n•rgy longs, quality anirnation and •ng4ying rhara¢tgrÉ, 11 dgllvgri th• good n9ws vl nhri$l and biblichl ronl•nl in form81 that 11 angage them m08t at 8 cdlirAI age lor faith forrn•lion and In 8 way which can be used by 8choDIi, churches and group5, SUPPOrted ty a robust nefv4ork lo tr8¢k usage and impact. Swell Revolution partner wl(h Wond•rbom Studi05 to dl$trlbule Cheety Pondaa resource5, worklng wNh the GlobBI Flre to create the TV shows, and Ralse Up Faith to create 8ccornpanylng activity pack6 and assembly plan8. Our Sunday school curriculum Is distributed 9lobally through Wonderbom's Raise Up FBilh platfomi. We work with the leading UK Chrisll8n publishing group SPCK lo create Cheeky Panda story books gnd all of our TV shows are available %•lth BSL interpretation. making It one of the few d)Ildr8n's UK Christlan r•sources to be accessible lo childi¢n and parents th addr(ional needs. There is eviden¢e of growlng commerdal vlabillty. Through creallng dlgltal reiources, books, and merchandlse, we 8re generailng gn economic engine that will provide a commeT¢ial income slream lor the fulure, h6lping US to staff the work set before us. Public benefit The trustees have pald due gard lo guld8n¢e i68ued by lh• Charity Commlsslon In decidlng whbt aCtitIeS the chgrfty should undertake.
SWELL REVOLUTION TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Achiev•mnts And perfomianct Signific8nt 8clivitie$ and 8¢hievementS against objeclives Over the past year, we've produced and released our first Je8U5 Storybook Bible serfes, comprlslng slx episode fe8lurtng well-known per8onalltles Such as Mary Berry and B8ar Grylls. Each episod• has been enhanced wtth B[lsh Sign Language IBSLI to ensure 9reater 8ccessibilfty. In AddlOn, we laun(ed a compgnlon vldeo featurlng the Jesus Storybook Blble theme lune. We currentty h8ve TV d15trfbution deals In place wlth Mlnno. Cathollc TV, God TV, TBN. Shalom Medla. Castlel Yes TV. Cllckview and Llvlng Scr¢ptures. We also have negotiated deal$ wlth Karong. reaching Au8trall8n, New Zealand and Flll gudi¢n¢es and wth Yippee, extendlng Our reach acr08s the US 8nd Canada. Our YouTube thann81 has had 1.5 million vl•w8 and over 63 Ihou¥and hour8 of wBtch tlme. Hlghllghts from OUT Jesus Storybook Blble Serles l#unc Include 191% grOh on Instagram, 183,564 p•opl¢ reached and 87% gfovhh In our emaS18ubscribeT8. The Cheeky Pandes did live perfonnances at the tsyo largt$l UK Christian fe31fvalJ. Spdng Harvest w8s attended by 8PPTOX. 20,000 peopl?. Cheety Pandas dellvered pr8l$e partles for chlldren 8eroBg both sltes. Blg Chur¢h Festival wa8 attended by approx. 30,000 people, wher? th• Pondas performed both at praise pa.85 in the chlldren's tent and on the Maln Stage. They 8180 showed 8 1-minute vldeo on th& maln stage across thè w8ek8nd. We also perfomad ot the Devon County Show wer• gpprox. loo,0 people gll•nded. Throughout 2024 Ched¢y PAnda8 and the Je8UB Blble Storybook Blble were aw8rtled th• Slfver Award for b•8t TV fjerl8s al the New York Chrlstlan F8mity Film Fesllval. They were a150 wlnnern of th• 2024 Chrt¥tlan Europ•4n sual Media Assoclallon Jewel AwBTd8 In the Chlldr•n and Youth Category. Towards lh• ond of the year, producllon began on th• second 8erles ol Ttt• Je$u8 Storybook Blbla. In th8 pedod up lo D8cembef 2024, we wrote and ptoduced the anlmatlon, Ilgn•d off scrlpts and Becured Bome of our next reade Indudlng Titchmar5h. Flnanclal revlew With th8 SUPPOrt of the tru&tee8 and volunloer8 the charfty ralsed £127,013 durfng the pertod through grnn18 and donations. The lunds ra18ed arn u8ed lo pay for the produCtIc of Cheeky Panda8 TV, accompanylng resou•. markellng costs, and o¥erh•ads. Res8Thes pollcy Th¢ trustees have determined that the charfty should alm lo hold unre8lrfcied re8erv¢$ of no less Ihan £34,0 {which equates to about 3 months, of unrestricled expendlturel so thal the charty could continue to opèraie 8hould Income Bnd l or expendllur¢ vary adversely. Al the end of the period, the charity held funds of £96,966, whi¢h Waf8 all unre6tricled. Major risks The irustees have a8ses8ed the major risks lo which th8 charlty is exposed, •nd are iausfied th81 By8lems ¥re In place lo mibgale exposuTe to the major r13ks.
SWELL REVOLUTION TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Plan• for future perlods Cheety Pandas is uniquely placed In Ihat there are •nomu3 minlslry 0pM)rtUne8 paralleled vath cornrnerrAal viabilty. Its global reach through the Intcmet Is not limited, and its live Ehows could run simultaneously In mU1ple countries. Its appeal to the unchurched Is va31 but can legd lo deeper resources that discipFe faith in children and famllieB. Over the next two yea13, we would like to Ing the totsl number ol Jesus Siory Book Bible episode$ to 18. Our goal Is to maxlmise dlstrlbullon and exp8nd our reach overseas through dubbing episodes into other lanyuages. Cheeky Pgnd4¥ are a150 looknng to produce more Cheeky Pandas and Friend8 anlmations around $pecMc theme8 such as prayer. wtth the 8upport of our partner8, as well 86 update some of our mu61c videos. We a160 8lm lo measure our Impact 8nd extend our re&ch. The Church of England h8s commltttsd to u6lng and amplifyin9 tha msource lo many Ihou$and6 more as part Of 11$ mlssion to double the number ol thldren in the Church of Englana by 2030. They hgv& commltted to partn*Jrlng wth Cheeky Pandas and Worn9 wfth on specific prol8Ct8 Ih the coming year. Our Presence at Chrl$lian le6tal6 11 conlnue 8long61de the eKt¢n8ion of the distrlbutlon channels w8 Supp. We 0180 #lm lo extend our partnerships and gain gr•aleT Insight inlo how the m8terfal 58 belng usèd. We are fully anlicipatlng that we will lrnpaet mllllonB ol Il¥es around tho world. Structur•, govem•ne• antl m•nagofflènt The organlsation Is a chadlable compgny Ilmf(ed by guarantee, InCoor81•d on the 29 December 2020. The charlty was e8tablished under 8 Memorandum and Artides of Assoaallon which e8tabli$heiJ Ihe objects and power8 of charitable company and 1$ governed under Its Artlcle5 of Assodatlon. TTU8tees are aware ol Charity Commi6sion's guldance on publlc benefit and how this is wovided by the charity. Routine Irainlng wlll ba a¥8ilable to trust•a$. The trustèe and other organlsgllonal del8115 are on pagé 2 of th18 report. The twslee8. who are also th8 dlr¢ctors lor the purpose of companylow, and who 8eFved diirlng the year and up lo the date of Signature of the financial Statements Were.. N J8rne8 J Lovell R Offley S Offley P Jam•8 E Cutling J Cutting (Reslgned 1 Junè 20241 IRasl9ned 1 June 20241 IAppolnt•O 1 June 20241 (Appointed 1 June 20241 Recrurfmenl 8nd 8ppoinlment oftrusle6s None of the trustees has any benefi81 Int8r¢$t In the c4)mpany. All of the trustees ara m¢mber8 of the company and gu8rante8 to contribute £1 in the event of a windlng up. The trustees, report was approved by the Board of Trustees. J Lovell Tru8t¢• 25 Septembor 2025
SWELL REVOLUTION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SWELL REVOLUTION I report to the truBlee8 on ry exarnination of the )In8ncl81 Btstements of Swell Revolution Oh• charfty) for Ihe year ended 31 DecembeT 2024. Respon•lbllltlo¥J and b1• ol rwort As the trustees of the charfty {ond glso Its directors for the purposes of cornpany lawl. you are responsible for the preparaOn of the Inanrial statements in accordan¢e with the requirements of Ihe Companle8 Act 2006. Havlng sausfled mys&N that the financial statements of Ihe charity Jre not required lo be audlted under Part 16 of the Companie¥ Act 2006 and are ellglble for Independent examlnallon. I report In re8pecl ol my oxaminalion of the charity'B fin8ncl81 statements carrled out undef sects'on 145 of th8 Charities Act 2011. In cArylng out my examlnJUon I have follow¢d the DireclKJns given by the Chanty Comrni3slon under sectlon 14515llbl of the Chorttle8 Act 2011. Ind•p•nd•nt •xamIn0¥ ¥t¥tsmant I have cornplet8d my examlnation. l nfl1M that no matter8 have come to my attenllon In connectlon 1h the exarnlnatlon giving me cause to belleve that In any materi81 rèsp8ct'. accovnts'n9 record$ were not kept In resped of the charity a$ requlred by &ectlon 386 of tha Companle8 Act 2006. the fln8nclal 6tslem8nts do not accord wtth tho$¢ r8cord8', OT the flnanclal st8tement8 do not compty wh the accounting r8qulrements of sectlon 388 af the CompJnle$ Act 2006 other than any requirement thal the financial $latements ge a tru¢ and folr vlew, whkh 16 not a matter consldered a8 part ol an Independent ex8minallon', or the Iln8nclal 8tatemenl8 havo not been prepared In awordgnca wth the method8 8nd prindple8 of the Sts¢ement of Recommond•d Practice for bccountlng and Teportbng by ch8rltles appllc8blè to charftle8 pparing their finan¢l•l $latement5 In accord8ne• wmh the Flnandal Reportlng Standanl appll¢abl• In the UK and Republlc of Ireland IFRS 1021. I have no concom8 and have come a¢ro88 no other rnatter6 in connectlon with the examln#Uon to whlth 8tt8nUon should bo drywn In thio rnport In order to anable a Proper undergt8ndlng of the financlal s181gment6 to be re8¢hed. John Caladln• FCCA CTA FCIE C8ladlne Llmfted Ch8ntry House 22 Upperton Road Easlboume E88t Sussex BN21 1BF 25 September 202S
SWELL REVOLUTION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unf•$trlct•d fund• 2024 Unr••trlct•d funds 2023 Note• Incom• from: Donation5 and legAc5 Charitable act88 Investments Other 127,013 38.138 1,134 11.784 95,105 30,800 176 12.CA4 Totsl Income 178,089 137.02S ExpendStur• on.. Raising lunds Charitable •ctivllieB 10,705 88,421 8,331 137.374 Total •xp•ndltur• 97.126 145.705 N•t Incom•llexp•ndltur•) •nd mov•m•nt In fund• 80.943 17,7801 R•con¢lll•tlon of fund•: Fund balances a11 J8nuary 2024 IA,n?g 23,803 Fund lnCe• •t 31 O•c•mber 2024 96,968 18,023 The statement of fin8nclal activttles In¢lud•s all galn6 and lo$$e$ regnISed In Ihe year. Al Incorne and axpendlture derlve from conunulng actjvltses.
SWELL REVOLUTION BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Cuyrent a8•ets Debtors Cash at bank and In hand 14 1,493 96,873 7,355 10,598 98,6 17,953 Cr•dltor: amounts falllng du• lthln on• year 15 11,4001 11,9301 Net curr•nt 98,986 18.023 Th• fund8 of th• ch•wlty Unreitrlct•d fvnds 96.986 16,023 98,886 1e.023 Thè company is ented io Ihe •x•mption from the audll requlroment contslned In 8actlon 477 01 thé Companles Acl 20C6, for the year endod 31 Dmber 2024. The dlrector 8c*nowledg•8 her re8ponslblllll8B for ¢omplylng wllh the roqulr•m8nt$ of the CompAnl•s Act 2006 vhth roS¢t lo a¢countlng record6 and Ih? praporAlion of finanrAal stslemonl8, The members hav8 not requlred the eompany to obtaln an audll of It8 finandal stalern•nts for the year In queslon In accordance Wbth 8ection 476. These financial 8lal¢m¢nl$ have been PTepared In gccordgnrA8 vAth th• provl8lon8 appllcable to componles Buble¢t lo the smal comp8nle$ r¢glme. Thtr fin8ndel $tst¢ment8 were approved by th• trusteeB on 25 S•pt8mber 2025 J Lovell Tru•t Company registration number 13101459 IEngland and Wal&ol
SWELL REVOLUTION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Aceountlng pollcles Company Infonnatton Swell Revolution Is o private comp8ny Ilrntted by gu8ranlee incorpor¥ted in England and es. The reglslered office b 10 Upperton Gardens, Eastboum•. E88t Sussax, BN21 2AH. 1.1 B•i• of pr•parntlon The financlal slalftments havg bccn pr•pared iii UCCDrdonco wllh the chantys goveming document, the Companles Act 2006, FRS 102 'The Finanual Reporting Standard appllcable In the UK and Republic of Ireland and the Charities SORP "Accountlng and Reporting by Charities.. Stat¢menl of Recommènded Practice &ppllcable to charities preparing thelr accounts In accordance th the Flnandal Reporting Standard applicable In the UK &nd Republic of Ireland IFRS 1021. The charity Is 8 Publlc Benefit Entlty a8 defined by FRS 102. Thts charity has lak•n advantage of th• provl8lons In the SORP for ¢h•rltl?8 not to prepare a slalement ol Ca8h flow8. Th8 fln•ndal ststements 8re prepared in stèrllng, which Is the functlonal ¢urr•ncy ol Ihe chartty. Monetsry amounts In these financlal statement8 are founded lo the neorest £. The flnand81 statements hav8 been prepared under the historfcal 2081 convention. Imodified to Indudi the revaluabon of freehold prop•rti•$ and to include Investment prop•rtles and certain financial in5tnJments at 18lr valuel. The prlnclp81 accountlng pollclts adopted •re i•t out below. 1.2 Golng conc•rn At the tlm• of 8pprovlng the tlnancial 3laternen18, the truste8s hav& a reasonable ¢xpectallon Ihat the charity has adequate resources to confjnue in operatlonal tlstenCe for thè f4rqppAhlr* fi i+t+r• -yi ¥14itiy Wilrn Da818 ot aCcntIng In preparlng th• fln8nclo1 statamènl$. 1.3 Charltabl• lund• Unrestricted funds ar& avallable for u80 al the d18ctIOn ol Ihe trusta•8 In furthernnc• of their charltabFe oblecllves. Re81rtcted fund8 ortr Bubiect to 8p•dfic condnlons by donors or grantors a8 to how they may be vs•d. The purposes and u3e$ of the restrtcted funds Bre set out In the notes lo U)¢ fin8ncial si@tem&nls. Endowment lund8 are 8ubAeel to specif condlllons by donors that Iha capSt81 must be maintsineil by the charfty. 1.4 Incom• Income is recognlsed when the charKy is legally entiljed lo il after any performance condlt4on8 have been nw. th8 amounls can be measured reliably, and it is probable thJl Income wlll be received. Cash donatlons are recognised on receipt. Other donations are recognised once tho chgrity ha5 been nollfied of the donation, unless perfomiance wndrtion5 requlrè deferral of the amount. Income lax reo)verable in rglabcfi lo donations rèc8fved under Glft Ald or deeds of covenant Is fecogni5¢d al the Ilme ollhe donallon. LÉg8rJes are recognlsed on recelpt or otherwise rf the charity has been note of an Impending distributlon. the arnounl is known, and receipl Is 8xpo¢ted. If the amount is nol known, the legacy is Irealed as a contSngent asset.
SWELL REVOLUTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcbe• Icontlnuedl l.S Exyndlture EypendSluT* is recognised once Iher8 Is a legal or construdiv8 obligation to transfef economic benefft to a third party, It 1$ probable Ihal a Iransler of economic beneflts wlll be requlr•d In Settlemeftt, and the amount of the obllgatlon can be measured reliabw. Expenditure Is cla$sffl8d by activity. The costs of each adlvlty aTe made up of the lotal of direct costs and shared cosls, Includlng support StS Involved in undertaklng e8¢h ath"vity. Direct costs attrtbutsble lo a single activity are allocated dlreclly to Ihat actlvity. Shared costs wbich contribuie to morts than one acllvlty ond support cosls whlch ar¢ not attrfbulable lo 8 slrtgle 8Ctlvlly awe apportloned betsen Ihose 8¢tivltleS on 8 ba51$ con$ist¢nt with the u$e of SOUrces. C¢ntfal staff co$tS aTe 8llocated on Ihe bas1$ of tsm¢ spent, and d¥preci8tion ¢harg8s are allocaled on Ihe portion of Ihe asset'¥ use. 1.8 Ca•h and ca•h •qul¥•lont• Cash and ¢ash equlvalents Indude cash In h8nd, deposits held at C811 wllh b8nk8, other Bhort-term liquld Inv8Stm¢nts wilh orlglnal maturtlies of three months Of lès3, and bank overdrafts. Bank overdrafts 8re shown wllhin borrowlng$ In current Ilabllille$. 1.7 FIMDcl•l In•trum•nt• The th8rity h88 elected to apply Ihe provlslons of Sectlon 11 'Ba8lc Flnjndal Instruments. and Sertlon 12 'Other Fln8naal Instrumeiits Issues, of FRS 102 to all of Its fin4ndal Instwments. Flnancl81 In6irumenls are recoqnijed In the eh8rfV8 balance 8h•et when the chaTIty becomes party 10 th• contractual provl$lons of the in$trum•nt. Fln4nd81 ossets and Ilabilille$ a offset, th the net amounts pr85¢nted In the Ilnhncl818tal8men15, when there is a legally enlorctable rlght to get off the recognised amoun18 #nd there18 an Intention to settle on a nel ba$i5 or lo realise the asset and settle th$ liabillty 51muitsneougty. 8•slc Ilnon¢l•l assets Basic flnancial asset5, whjch Indude deblors and cB$h and bank b•lance$. arè Inttlally me#6ured al transactlon price Includlng tr8nsacllon costs and aT8 6ub6equenlly carrled 81 amortised cost uslng the effedlv• interest method unless Ihe arrangement constitutès a financlng transaction, where the Iransaelion is meBsured at the present value of Ihe lulure Teceipts discounted ai a market rate of InleTe8l. FinancA¥l #85818 dassilled as receivable wilhin one year are nol amortised. B¥slc linancl•l liabllltles 8aslc flnanrial liabililies. Induding crediiofs and bank loans are Inillally recognlsed 8t transaction price unlos$ the arrangement constitulos a flnanclng tr#n58Ction, where the debt Instrument is measured al the presenl ¥Blue of the futu payments discounted at a m8rktrt rat8 01 Interosl. Flnancl81 Ilabiliti¢s dassified os payable wilhin one year a not amortiS8d. Debt instruments are wb5equentty carried at aMOrSed cost, using the effectlvo inlere8t rate method. Tr8de creditors a obligatlons lo pay for goods or servlces that h8ve been acqulTed In the OTdln8ry course of operations from suppllers. Amounts payable or¢ cl8s51fiod as cuffent liabilille5 11 payment 15 due within one year or less. If nol, they are presenled as non-current Ilabilities. Trade credilots 8Te ¢09n1$ed initially at transadlon price 8nd subsoquenlty measured at 8mort15ed cost using the effectlve interest method. Dorecognltlon ol fift8nchl Ilabllitle$ Financial li8bilitle$ are derettognised when tho charity's contracw81 obllgations expire or aTe dlschorged or cancelled.
SWELL REVOLUTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountjng polrchB (Contlnuedl 1.8 Empltyèe b•netit9 I•ved. The cost of any unused holJd&y enlMlem•nt 6s recognised In the perlod In which Ihè employee's 8eMce8 arl) Tem)Inath'on benefl18 a re¢ognised Imm&dlalety a8 an expanse when the charfty i¥ demon81rably eommltted lo terminate Ihe employment olan employee orto wovlde tenxinallun henefit8. Crfdc•l a¢Gountlnq •Btlmit•4 and Judgements In the applleauon tsf the charKy'8 attounllng pollcle¥. the trustees ale reqtsired to make judgements, e$llmale8 an¢J as8umptlons about the earrylng amount of assets and liabilltles th81 are not adIlY apparent from other sources. Th¢ esiim8les and a$sociied assumptions a based on hS$torical expertence and olhar fgclors that are wn8idered lo be rtslevant. A¢tual results may differ from these estSn7ate8. The estimate5 and underlying assumption$ ao revleweil on an ongolny basls. Revlslons to accounllng slima165 are re¢ognl$ed in the perlod In whlch Ihe esllmaie is revlsed wher& the revislon 8ffec18 only Ihat period, or In Ihe period of the iev1310n and future periods wher8 the revS¥ion afftsct$ both currnnl and fulure periods. In¢om• from donat+on• •nd l•94el•• Unr••trl¢t•d fundg 2024 Unr••trlct•d fund• 2023 Donatlons 8hd gl Grant8 60,013 77.01 70,105 25.000 127,013 95.105 Income from ch4rftwbJe acttvltl•• Unmirtct•d lunds 2024 Unr••trlct•d lund• 2023 Ch•* Panda• Medla sales 38,138 30,800
SWELL REVOLUTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2024 In¢om• from Inve9tments Unr•stdcted UnT•strlct•d lund• fund 2024 2023 Interest r•celv8ble 1.134 176 Other Incom• Unmtrlcted Unmtrfet•d fvndg lund• 2024 2023 Royolues 11,784 12,044 Exnd[tur• on r•l•lng fund• Unmtrl¢t•d Unrutslct•d fund• lund• 2024 2023 Fundr•l•ln9 and publlclty Ad¥ertl8lng 10,70S 8.331 10-
SWELL REVOLUTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlts•M on ch•ritabl• aellvlti Dlrect Co•1• Direct Costs 2024 2023 Dlrnet Cheeky Pandas Jesus story book blble 88rf•$ Evenl8 God 8uit vldeo Spring harvest costs 18.890 23.851 5.852 2.014 97,086 862 50,207 97.948 Sh•r• ol •upport and gmrnanc• co•t• (••• not• 91 Support Govemance 34,888 4,738 88,421 137.374 Analy•l• by fund Uniestrtcled lund3 86,421 137.374 •UVVVa co•Th •lloe•l•d to •ctlvltle• 2024 2023 Management f•&B Sub&criptionB Prfnt, post and 8totknnary Sundry expenses Project costs Insuranc Bank charges Chorftable gwlng Exchange galnsAosge¥ Govemance ¢0515 22,IX 720 24.000 495 487 258 6,8fyJ 6,843 104 79 1.7fyJ 4.738 36,214 39.426 se Direct Costs 36,214 39.428
SWELL REVOLUTION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Support co4ts allot•d to aellvltl•s IContlnu•dl 2024 2023 Governanco co&t* ¢omprl8•: Independent gxamlnauon fee5 Accountancy Legal arKI prof•sslonal Tru8tees' travel expenses 600 4,048 400 320 900 3.838 S.388 4,738 10 N•t movement In fund 2024 2023 The nel movement In lund$ li slated after charylngllcrndltlngl.. F••• payablé for the independent ex8mln8llon of the charltV8 finAncl81 818lem•nt8 600 9C4J 11 T11•¥ None ol the trusleeB lor ony porson8 connected whh Ihlml recel¥ed any Temuner8llon or benefits from th• charty durtng the yeof, apart from th08e Il¥ted in Nole 17. Once Irujle? reulved felmburned exp•n8es of £21512023.. £NILI. 12 EmPl(¥y• Th8 Average monthty number of ¢mploye88 during the er wa8.. 1024 Number 2023 Numb•r Total There were no employe•s wh088 annual remun•rathJn was more than £80.000. 13 T111n The charity Is exempt from taxatlon on Its 8¢dvftles becav8e 811 ill IncKJme is applied for ¢harftsble purposeB. 14 Debtors 2024 2023 Amounts falllng due wthin on• year. Trad? d¢blors Other debtor8 5.292 2,063 1.493 1,493 7,355 12-
SWELL REVOLUTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Crnditorn: amounts falllng du• wtthln one y••r 2024 2023 Accruals and defeffed incoma 1.400 1,930 18 UiiN¥lrfct•d fund¥ The unre8trfcted fiJnd$ oflhe tharity comprlse the unexpended b8lBnce8 of donatlons and grants hthlch ar• not Subject lo spedfic rondillons by donors 9nd grantors as to how they may be tssed. These include d&snated funds whlch have been sel aslde out of unre8trfcted funds by the truste88 for 8cHIC purposes. At 1 January 2024 In¢omlng r••ourc Re•our¢•8 vxp•nd•d At31 Dèc•rnb•r 2024 General funds 16,023 178,Cl89 {97.1261 98.988 Prevlou• year., At 1 Janury 2023 Incomlng M•ourc•• R••ourc•• •xp•nded At31 Doe•mb•r 2023 G•n•ral fund8 23,803 137.925 1145,7051 16.023 17 R•lited p•rty tran••ction• Trnn¥actlon• wlth r•lt•d parti During the year, payments of È22,000 were made lo Nlcola James Communicabons Ltd, 8 company controlled by Peter and Nicola Jam¢$. who are both truste8s. These payment$ were lor rnana9emenl service8 provided, w5th a further £1,365 pald to r¢lmbur8e expen8es and operating costi. 13-