Charity reglstratlon number NIC101172 Company reglstratlon number N1007497 (Northern Ireland) REVIVAL MOVEMENT ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
REVIVAL MOVEMENT ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr. Samuel Adams Mr W C Allen Mr J P Allen Mrs. Heather Mercer MrA Fitzsimmons Mr D Watson Mr Michael Verner Mr Rodney Garnham (Appolnted 7 June 2022) Secretary Mrs. Heather Mercer Charlty nurnber NIC101172 Company number N1007497 Prlnclpal addre83 10 Kinallen Road Dromara Dromore Co Down N Ireland BT25 2NL Regl8tered offlco 10 Kinallen Road Dromara Dromore Co Down N Ireland BT25 2NL Audltor Mccreery Turklngton Stockman Ltd 1 Lanyon Quay Belfast Co Antrim Northern Ireland BT13LG Sollcltors McFarland Graham Mccombe 4143 Bachelors Walk Lisburn Co. Antrim BT28 IXN
REVIVAL MOVEMENT ASSOCIATION CONTENTS Page Trustees, report Independent auditor's report Statement of flnancial activlties 10 Balance sheet 11 Statement of cash flows 12 Notes to the financial statements 13-24
REVIVAL MOVEMENT ASSOCIATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The trustee8 present their annual report 8nd financial statements for the year ended 31 December 2022. The accounts have been prepared in accordance with the accounting pollcles set out In note 4 to tIE accounts and comply with the charity's Memorandum and Articles of Associatlon, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparlng their accounts in accordance wlth the Financlal Reporting Standard applicable in the UK and Republlc of Ireland (FRS 1021 published in October 2019" Objectlves and actlvltles The charity's objectives and principal activities are to print and distribute Christian publlcations for both adults and children. Their aim is to print in multiple languages In order to assist as many missionary organisations, churches and evangelists as possible in most countries of the world. The charity has many indivldual projects that help further thelr overall alms. The followlng are two examples of said prolects'.- One of the charity's major partners Is the Mailbox Club whlch supplies booklets for students and Teachers Guides for those who are teachlng. Mailbox Club is working in most African countries in the English, French Portuguese, Swahlll and Amharic languages. The charity has been involved eSpeCallY in a prolect In South Sudan where the government has requested that all school pupils receive booklets volume 1 and 2 and Teachers Guides for school teachers. It Is estimated that there are 3 million students in s¢hoo18 In South Sudan. The charlly contlnues to work closely wlth BES which provldes weekly Blble study booklets and Teachers Guides, especially for Sunday School teachers. The charlty has been printing these in Engllsh, Freh, Swahill and Arabic, They have major projects In Kenya, Tanzanla and Ethiopla. The trustees have pald due regard to guidance Sssued by the Charty Commission In deciding what activities the charity should undertake. The charity is appreclative of the efforts of Its volunteer8 who are involved in servlce provislon. It Is estimated that over 4,500 volunteer hours were provided during the year. If this is conservatively valued at £9.50 an hour, the volunteer effort amounts to £42,750. Achlevemonts and perfomiance The main area of charitable activity Is the prlnting and distributlon of Chrlstian literature. During 2022, 1,268 tonnes of paper were used in the production of Ilterature. This produced lust under 59 million pieces of Ilterature: 8,830,000 Gospels., 9,951,690 Scripture and Gospel booklets. 41,469,000 Gospel tracts and leaflets., 458,000 sets of Children's Bible Lessons., and 201,000 books. A total of 46 contalners were shipped to overseas countries, plus many pallets and parcels of literature.
REVIVAL MOVEMENT ASSOCIATION TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Flnanclal revlew During the current year the charity had a surplus of £371.762 with accumulated reserves of £3,800,266. The trusteesldirectors retaln funds in the charitable company for the followlng reasons: a) to finance the ongoing runnlng cost8 of operations., and b) to provide funds available at short notice to finance the objectives of the charity and facilitate the plan8 for the future, The trusteesldirectors calculate that £975,875 of unrestricted reserves are required to finance annual running costs, In additlon at any one tlme liquld funds of approxlmately £350,000 are required to finance the purchase of paper, whlch Is ordered three months In advance. Unrestricted and undesignated reserves are currently £3.799,251 and on the basis of the information above the trusteesldirectors are satisfled that this level of reserves is acceptable. In addition, there are £1,015 of restricted reserves, The prlncipal sources of fundlng ara donatlons, glfts and legacies. Due to the UkrainlanlRussian war, and the re8ultlng Increase In oll prices during 2022, paper prices have rl8en by approximately 70Vo, thereby increaslng printing costs. The situatlon was also exacerbated by the fact that most of the world's paper pulp comes from Ukraine and Russia. As oil prlces soared, so too did the Gharity's eleGtricity costs. The cash reserves have increased thls year due to a net inflow of resources in the year on operating activities. Surplus funds continue to be held on short term deposit. The trusteesldirectors revlew th& major risks to the charitable company on an ongoing basis. Income levels are regularly monitored an¢J advised to contributors through the monthly newsletter. All transactions and projects are authorised by trusteesldirectors, thereby minlmising intemals risks. Procedures are In place to ensure compliance with health and safety of staff and volunteers, cllents and vlsitors to the premises. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. The charity has decided to upgrade its oldest Muller Saddlestitcher to a 4 station machine. This more modern machine and in particular, the fourth feeder, will greatly assist in the production ofTeachers Guide8 for CEF. The charity has formed a new partnership with Bible VIsu8ls International and a Bible College in Papua New Guinea. These groups have devised a Bible based curriculum to be taught in schools in Papua New Guinea wllh different levels appropriate for each age group. The charity will be involved in the printing of vlsuals for children and teachers. These resources will be used in approximately 500 schools in Papua New Guinea.. structure, governance and management
REVIVAL MOVEMENT ASSOCIATION TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 ov The charity Is a company Ilmited by guarantee, incorporated on 9 January 1969. The company was established under a Memorandum ofAssociation which established the objects and powers of the charitable company and is governed under its Articles ofAssociation. In the event of the company being wound up, members are required to contribute an 8mounl not exceeding £1. The trustees, who are also the dir&ctors for the purpose of company law, 8nd who 8erved during the year were: Samuel J Adams (Joint Chief Executive) W Clive Allen (Jolnt Chief Executive) J Paul Allen Heather Mercer (Misslon Secretary) Austin Fitzsimmons David Watson Michael Verner Rodney Garnham (appolnted 7 June 2022) Individuals are invlted to serve as directorsltrustees on the basis of their abillties and background so as to achieve a balance baeen those from business, voluntary and charity sectors. Under the requirements of the Memorandum and Artlcles of Association one thlrd of the dlrectorsltrustees retlre each year and are ellgible for re-election. J Paul Allen, W CllveAllen and Heather Mercer are due to retire by rotatlon and, being eligible, offer themselves for re-eleclion. None of the trustees has any beneflcial 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. At present Revival Movement Association has a Board of dlrectorsltrustees of 8 members who meet regularly and are responsible for the strategic directlon and policy of the charity. From the Board there is a sub-committee of 5 members plus 3 staff representative, known as the Working Group, who are worklng on the pollcies and structures wlthin the organisation. The Mission Directors, Cllve Allen and Samuel Adams, are responslble for the day to day operating declsicns within the factory. Heather Mercer, the Mission Secretary, as an Executive Dlrector, is consulted before decisions are made and is Involved in administration and is responsible for accounts. Most directorsltrustees are already aware of the actlvities of the charlty prior to appointment. When invlted to serve they are provided with details of the chartty's objectives and Its day to day operations. The remuneration of key management is set using the same parameters as all other staff, which Is based on the individual's length of service to the charty.
REVIVAL MOVEMENT ASSOCIATION TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 ion er Isa The charity co-operates with the following organisations In the pursuit of its charitable objectives.. ACTS Nigeria Child Evangelism Fellowshlp. Biblemission., Bible Education Services., Every Home for Christ., Interlink Missionary Agency: Mailbox Club., India Bible Literature., China Tourist Ministries., Emmaus., Rock International., CMI Aid Moldova; and Paul Williams (Romanla) Statement of trustees, responslbllltlog The trustees, who are also the director8 of Revlval Movement Associatlon for the purpose of company law, are responsible for preparing the Trustees, Report and the financl81 statements In accordance with applicable law and Unlted Kingdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financlal statements for each flnanclal year whlch give a true and fair view of the state of affalr8 of the charlty and of the incoming resources and application of resources, Including the income and expenditure, of the charilable company for that year. In preparing these financlal statements, the trustees are requlred to: select suitable accountlng pollcles and then apply them conslstently. observe the methods and princlples in the Charities SORP 2019 <FRS102)', make judgements and e8timates that are reasonable and prudent., state whether appllcable UK Accountlng Standards have been followed, subJect to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it Is inapproprlate to presurrn that the charity will continue in operation. The trustees are responsible for keeplng adequate accountlng records that disclose with reasonable accLJracy at any time the financlal position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. Audltor In accordance with the company's articles, a resolution proposing that Mccreery Turkinglon Stockman Ltd be reappointed a5 auditor of the company will be put at a General Meeting. Disclosure of Informatlon to audltor Each of the trustees has confirmed that there Is no information of which they are aware which is relevant to the audit, but of which the auditor is is unaware. They have further confirmed that they have taken appropriale steps to Identify such relevant informatlon and to establish that the auditor is aware of such information. The trustees, report was approved by the Board of Trustees.
REVIVAL MOVEMENT ASSOCIATION TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Mrd. Heather Mercer Trustee Dated.. 30 May 2023
REVIVAL MOVEMENT ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF REVIVAL MOVEMENT ASSOCIATION Quallfled oplnlon We have audited the financial statements of Revival Movement Association (the 'charity') for the year ended 31 December 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation Is applicable law and United Kingdom Accountlng Standards, includlng Financial Reporting Standard 102 The Financial Reporting StandaKI 8pplic8ble in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, except for the possible effects of the matter descrlbed in the Basis for Quallfied Opinion sectlon of our report, the financial statements.. give a true and falr vlew of the state of the charitable company's affairs as at 31 December 2022 and of its incoming resources and application of resources, induding Its income and expenditure, for the year Ihen ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practlce; and have been prepared In accordance with the requlrements of the Companies Act 2006. Bas18 for quallfled oplnlon Imth respect to the fixed assets, audit evidence in relatlon to property with a carrylng value of £75,600 was limited. The property In question is a building in Nigeria that the charity purchased in the year ended 31 December 2015 in partnership with another charitable organisation based In Nigerla, with whom Revival Movement Associatlon has worked for many years. The organisation is registered in Nigeria and is also linked to a UK charitable organisation. We were unable to obtain sufficient appropriate audit evidence regarding the valuation, existence and title to this asset as the legal process In stlll ongoing In Nigeria. We conducted our audlt In accordance wlth International Standards on Auditlng (UK) IISAS (UK)) and applicable law. Our responsibilitles under those standards are further described in the Auditorfs responsibllities for the 8udit ol the financial st8tements section of our report. We are independent of the charlty in accordance with the elhical requiremgnts that are relevant to our audit of the fin8nclal statements in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethlcal responslbillties In accordance with these requlrements. We believe that the audit evldence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. Concluslons relatlng to golng concern In auditing the financlal statements, we have concluded that the trustees, use of the going concem basis of accounting In the preparation of the flnancial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relatlng to events or conditions that, individually or collectively, may cast significant doubt on the charlty's abllily to continue as a going concern for a perlod of at least twelve months from when the financial statements are authorised for issue. Our responsibilitles and the responsibilltie8 of the truste8S Wlth respect to going concern are describad in the relevant sectlons of this report.
REVIVAL MOVEMENT ASSOCIATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF REVIVAL MOVEMENT ASSOCIATION Other infomiatlon The trustees are responsible for the other information. The other infomation comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection wlth our audlt of the financial statements, our responsibllity is to read the other information and, in doing so, consider whether the other Information is materially inconsistent with th8 financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identlfy such material inconsistencies or apparent matorial misstatements, we are required to determine whether there is a materlal misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of thls other information, we are required to report that fact. We have nothlng to report in thls regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our oplnion, based on the work undertaken in the course of our audit.. the informatlon given In the trustees, report for the financial year for which the financial slatements are prepared, which includes the dlrector8' report prepared for the purp0888 of company law, is consistent with the financial statements,. and the directors, report included within the trustees, report has been prepared in accordance with applicable18gal requlrements, Matter8 on whl¢h we are requlred to report by exceptlon In the light of the knowledge and understandlng of the charlty and Its environment obtalned In th8 course of the audlt, we have not Identified material misstatements in the directors. report included within the trustees, report. In respect solely of the limltation on our work relating to the Nlgerian propety descrlbed above.. we have not obtained 811 the informatlon and explan8tion8 that we consldered necessary for the PUTpose of our audlt. we werg unable to determ5ne whether adequate accounting records had been maintained. We have nothlng to report in respect of the following matters in relatlon to which the Companies Act 2006 requlres us to report to you If, in our oplnion: the financial statements are not in agreement with tha accounting records and returns,. or rtaln disclosures of trustees, remuneration specified by law are not made. the trustees were not entitled lo prepare the financial ststements In accordance with the small companles regime and take advantage of the small companles, exemptlons in preparing the trustees, report and from the requirement to prepare a strategic report. Responslbllltlos of trustèes As explained more fully in the statement of trustees, responsibilities, the trustee5, who are also the directors of the charity for the purpose of cornpany law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assesslng the charity'5 ability to continue as a going concern, disclosing, as applicable, matters related to golng concern and using the golng concern basls of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
REVIVAL MOVEMENT ASSOCIATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF REVIVAL MOVEMENT ASSOCIATION Audltor's responsibilitles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or emr, and to issue an auditor's report that includes our opinlon. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are consldered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basls of these financial statements. Irregularities, including fraud, are instances of non-compllance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material mlsstatements In respect of irregularitles, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. We gained an understanding of the legal and regulatory framework applicable to the charity and considered the rlsk of acts by the charity which were contrary to the applicable laws and regulations, including fraud. These Included. but were not limlted to, compllance wlth the Companies Act 2006, FRS102 The Financlal Reportlng Standard applicable In the UK and Republic of Ireland" and the Charitles SORP (FRS102). We focused on laws and regulations that could give rise to material misstatements in the financial statements. Our test8 included, but were not limlted to: Agreem8nt of the financial statement disclosures to the underlying supporting documentation., Enquirles of management., Review of minutes of Trustee meetings throughout the period., and Revlew of any transactlons wlth, or correspondence with, the charlty's sollcltor8. We also communlcated the relevant laws end regulations and potential fraud risk to th8 engagement team and remained alert to any Indications of fraud or non-compliance wlth laws and regulations throughout the audit, Our audit procedures were deslgned to respond to risks of material misstatement In the flnanclal statements, recognising that the rtsk of not detecting a material misstatement due to fraud18 higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are Inherent limitatlons in the audlt procedures described above and the further removed non-compliance with laws and regulations Is from events and transactions reflected in the financial statements, the less likely we are to become aware of it. As in all our audits, we addressed the r18k of management override of internal controls, Including testing journals and evaluating whether there wa8 evidence of bias by the trustee8 that represented a risk of material misstatement due to fraud. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https.'Il www.frc.org.uklauditorsrespon5ibilities. Thls description forms part of our audltor's report. Use of our report This report is made solely to the charltable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitabl& company's members those matters we are required to state to tem In an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other tFEn the charilable company and the charitable company's members as a body, for our audit work, for this report, or forthe oplnions we have formed.
REVIVAL MOVEMENT ASSOCIATION INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF REVIVAL MOVEMENT ASSOCIATION Mr. Rlchard Mcclay (Senlor Statutory Audltor} for and on behalf of Mccreery Turklngton Stockman Ltd 30 May 2023 Chartered Accountants statutory A or 1 Lanyon Quay Belfast Co Anlrlm Northern Ireland BT13LG
REVIVAL MOVEMENT ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestrlcted Restricted funds funds 2022 2022 Total Unrestricted Restrlcted funds funds 2021 2021 Total 2022 2021 Notes Donations and legacies Charitable activitles Investments Other income 2,090,207 167,618 1,028 80,051 863,293 2,953,500 167,618 1,028 80,051 2,025,083 91,371 1,287 72,967 729,984 2,755,067 91,371 1,267 72,967 Total Income 2,338,904 863,293 3,202,197 2,190,688 729,984 2,920,672 Charitable activities 1,967,524 862,910 2,830,434 1,984,034 730,174 2,714,208 Net Income for the yearl Net movement In funds 371,380 383 371,763 206,654 (190) 206,464 Fund balances at 1 January 2022 3,427,872 632 3,428,504 3,221,218 822 3,222.040 Fund balances at 31 December 2022 3,799,252 1,015 3,800,267 3,427,872 832 3,428,504 The Statement of financial activities includes all gains and losses recognlsed in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies wlth the requirements for an income and expenditure account under the Companies Act 2006. 10-
REVIVAL MOVEMENT ASSOCIATION BALANCE SHEET AS AT31 DECEMBER 2022 2022 2021 Notes Flxed assets Tangible assets Current assets Stocks Debtors Cash at bank and in hand 12 1,925,536 2,059,555 13 14 498,600 115,201 1,643,976 278,433 109,730 1,102,748 2,257,777 1,490,911 Credltors: amounts falllng due wlthln one year 16 (383,046) (121 ,962) Net current assets 1,874,731 1,368,949 Totsl assets les8 current Ilabllltles 3,800,267 3,428,504 Income funds Restricted funds Unrestdcted funds 18 1,015 3,799,252 632 3,427,872 3,800,287 3,428,504 These financial statements have been prepared In accordance wlth the provision8 appllcab18 to companies subject to the sm211 companies regime, The accounts were approved and authorised for issue by the Trustees on 30 May 2023 ). Ckn¢ ALI~ Mr. Samuel Adams Trustee Mr W C Allen Trustee Company Reglstratlon No. N1007497 11
REVIVAL MOVEMENT ASSOCIATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes Cash flow5 from operating actlvltles Cash generated from operations 21 548,902 325,505 Investlng actlvltles Purchase of tangible fixed assets Interest received (8,702) 1,028 (5,666) 1,267 Net cash used In Investlng actlvltles (7,674) 14,399) Flnanclng actlvltleg Net cash used In flnanclng actlvltles Net Increa8e In cash and cash equlvalents 541,228 321,106 Cash and cash equlvalents at beginning of year 1,102,748 781,842 Cash and cash equlvalents at and of year 1,643,976 1,102,748 12-
REVIVAL MOVEMENT ASSOCIATION STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Critical accountlng 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 liabillties that are not readily apparent from other sources. The estimates and associated assumptions are based on historlcal 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 whlch the estimate is revised where the revision affects only that period, or in the period of the revision and future perlods where the revision affects both current and future periods. 13-
REVIVAL MOVEMENT ASSOCIATION STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charitable activities Sales of Offorlngs at Llteraturo Moetlng8 2022 2022 Totsl 2022 SaleB of Offerlngs at Llterature M8etlng8 2021 2021 Total 2021 Income from ch8ritable activities 120,755 46,863 167,818 64,763 26,608 91,371 Accountlng pollcles Charlty Informatlon Revival Movement Association Is a private company limlted by guaranlee incorporated in Northern Ireland. The registered office is 10 Kinallen Road, Dromara, Dromore, Co Down, BT25 2NL, N Ireland. 4.1 Accountlng conventlon The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Raporting by Charities.. Statement of Recommended Practice appllcable to charities preparing thelr accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 102)" (Issued In October 2019), The charlty Is a Publlc Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, whlch18 the functional currency of the charlty, Monetary amounts In these financial statements are rounded to the nearest £. Tre financial statements have been prepared under the hlstorlcal ¢08t conventlon. The prlnclpal accounting policies adopted are set out below. 4.2 Golng concern At the time of approving the ff nancial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational exlstence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 4.3 Charltable funds Unrestricted funds are available for use at the discretlon of the trustees in furtherance of their charitsble objectives. Designated funds are unrestricted funds earmarked by the trusteesldlrectors for partlcular purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purFoses and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subj8Ct to specific Conditions by donors that the capital must be maintalned by the charity. 4.4 Incoming resources Income is recognlsed when the charity is legally entitled to it after any performance conditlons have been met. the amounts can be measured reliably, and it is probable that income will be received. 15-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policie8 (Continued) Cash donations are recognised on recelpt. Other donations are recognlsed 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. Donated assets are included in the Balance Sheet at their current value at the date of the gift and also included in the Statement of Flnanclal Activities as an incoming resource. Legacies are recognlsed on receipt or othelwlse If the charlty has been notified of an impending dlstribution, the amount Is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. The charitable company benefits from the involvement and enthusiastic support of its volunteers, detai18 of which are given in the annual report. In accordance wlth accounting standards, the economic contribution of general volunteers is not measured In the accounts. Grants towards charitable activities are released to the SOFA as the related expenditure is incurred. 4.5 Resources expended All expenditure is accounted for on an accruals basls and has been classified under headlngs that aggregate all costs relating to either charitable activities or governance. Expendilure is recognised where there is a legal or constructive obligation to make payments to third parties, It is probable that the settlement wil I be required, and the amount of the oblSgatlon can be measured rellably. lthere costs cannot be dlrectly attrlbuted to particular headings they have been allocated to activitles on basls conslstent wlth use of resources. The allocatlon Is based on the apportionment of wages and salaries between admlnistratlon costs and productlon cost8. 4.6 Tanglble flxed assets T8nglble fixed assets are initially mea8ured at cost and Subsequently measured at cost or valuation, net of depreciation and any impairment108ses. Deprecialion Is recognised so as to wlte off the cost or valuatlon of assets less their resldual values over thelr useful lives on the following bases.. Freehold land and bulldings Plant and equipment Offlce Equipment 20/014 /0 Stralght Llne 100/0 Straight Line 200h Stralght Llne The gain or loss arising on the dlsposal of an asset Is delermined as the difference beeen the sale pro¢68ds and the carrying value of the asset, and Is recognised in the statement of financial activities. 4.7 Impalrment of flxed assets At each reporting end date, the charlty reviews th6 carrying amounts of its tanglble assets lo determine whether there 15 any indication that those assets have suffered an impairment10ss. If any such indallOn exists, the recoverable amount of the asset Is estimated in order to determine the extent of the impaimient loss (if any), 16-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcles (Contlnued) 4.8 stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringlng the stocks to their present location and condltion. Items held for distrlbutlon at no or nominal consideration are measured the lower of replacement cost and cost. Cost 15 calculated using first in, first out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. Net realisable value Is the estlmated selling price less all estimated costs of completion 8nd costs to be incurred in marketing, selling and dlstrlbution. 4.9 Cash and cash equlvalents Cash and cash equivalents include cash In hand, deposlts held at call with banks, other short-term Ilquld investments with orlginal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabllltles. 4.10 Flnanclal Instruments The charity has elected to apply the provisions of Sectlon 11 '8aslc Flnanclal Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its financlal instruments, Flnanclal Instruments are recognised In the charlty's balance Sheet when the charlty becomes paty to the contractual provislons of the Instrument. Financial assets and 1Sabllltles are offset, wSth the net amounts presented In the flnanclal statements, when there is a legally enforceable right to set off the recognised amount8 and there 13 an intention to settle on a net basis or to realise the asset and settle the Ilability slmultaneou81y. Baslc flnanclal assets Baslc financial assets, which include debtors and cash and bank ba18nces, are initially measured at transaction price including transactlon costs and are subsequently carried at amortl8ed cost using the effective interest method unless the arrangement constitutes a financing transactlon, where the transaction is measured at the present value of the future receipts dlscounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal Ilabllltles Basic financial liabillties, includlng credltors and bank loans are Inltially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortlsed. Debt Instruments are subsequently carrSed at amortlsed cost, uslng the effective interest rate method. Trade credltors are obllgatlons to pay for goods or servlces that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabllitles. Trade creditors are recognised initially and subsequently at transaction price. Derecognition of financial liabilities Financial liabllities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 17-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng policie8 (Continued) 4.11 Taxation The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Flnance Act 2010 and therefore meets the definltiion of a charitable company for UK corporation tax purposes. 4.12 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's servlces are received. Termlnation benefits are recogni8ed immedlately as an expense when the charlty is demonstrably committed to terminate the employment of an employee or to provide temilnation benefits. 4.13 Retlrement beneflts Payments to defined contribution retlrement benefit schemes are charged as an expense as they fall due. 4.14 Forelgn exchange Transactions in foreign currency are translated into Sterllng at the rate of exchange ruling at the date of the transaction. Assets and Ilabllities In for8lgn currencies are translated Into Sterling at the rates of exchange rullng at the balance sheet date, Exchange differences are taken into account In arrlvlng at the operating result. Investments Unrestrlcted Unrestrlcted funds funds 2022 2021 Interest receivable 1,028 1,267 Other Income Unrestrlcted funds Totsl 2022 2021 other income Sale of Recyclable Goods Wind Turbine and Solar Panel Income Covld 19 Support 23,390 56,856 20,942 51,745 275 80,051 72,967 18-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charitable actlvltles 2022 2021 staff costs Depreciation and impairment Printing Purchase of Literature Postage and Freight Boxes and Packaging Llght, Heat and Power Repalrs and Maintenance Computer Costs Travel Equipment Hire BrazillNlgeria Depot Expenses Donations 434,945 91,773 1,365,313 299 447,641 11,928 104,708 62,430 4,329 12,520 9,995 56,487 7,914 458,123 90,913 1,276,362 8,230 445,575 12,115 83,813 49,532 3,798 2,318 9,185 62,905 9,276 2,810,280 2,512,145 Share of support cost3 (see note l 0) Share of governance costs (see note 10) 184,532 35,623 173,507 28,556 2,830,434 2,714,208 Analysls by fund Unrestricted funds Restricted funds 1,967,524 862,910 2,830,434 For the year ended 31 December 2021 Unre8tricted funds Restricted funds 1,984,034 730,174 2,714,208 19-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Tru8tee8 The following directorsltrustees recelved gross salarle8, including overtlme where applicable, in the year ended 31 December 2022.. Samuel Adams £30,537 Clive Allen £22,054 Heather Mercer £21,483 The charitable company made pension contributions in respect of the following directorsltrustees in the year ended 31 December 2022.. Samuel Adams £972 Clive Allen £632 Heather Mercer £607 The legal authority for the payment of remuneratlon to directorsltrustees is the charity'8 Memorandum and Artlcles of Associatlon. No other directorsltrustees, or persons connected to them, received remuneration in the year. In the year ended 31 December 2022, the charitable company reimbursed directorsltrustees a tolal of £2,313 in relation to travel expenses incurred In providing services to the charltable company. Employees The average number employees during the year was: 2022 Number 2021 Number ManagemenVAdmlnistration Operatives 20 22 Tolal 23 25 Employment cost8 2022 2021 Wages and salaries Social security costs other pension costs 475,512 33,932 12,489 493,123 32,816 13,116 521,933 539,055 There were no employees whose annual remuneration was more than £60,000. -20-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 10 Support cost8 Support Governanc costs costs 2022 2021 Ba31s of allocatlon Staff costs Depreciation Exchange gains Rent, Rates and Printing, Stationery and Telephone Legal and Professional General Expenses 86,988 50,949 (250) 6,845 5,966 4,613 2,040 27,381 86,988 50,949 (250) 8,208 7,154 5,531 2,040 27,381 80,932 51,039 1,363 1,188 918 7,936 Wage8 6,371 Wages 4,034 Wages 1,423 24,522 Audit fees Light, Heat and Power 11,313 20,841 11,313 20,841 11,013 14,793 Wages 184,532 35,623 220,155 202,083 Analysed between Charltable actlvlties 184,532 35,623 220,155 202,063 Governance costs Includes payments to the auditors of £11,313 (2021- £11,013) for audlt fees, 11 Taxatlon The charity is exempt from tax on income and gains falling wlthln section 505 of the Taxes Act 1988 or Section 252 of the Taxationof Chargeable Gain8Act 1992 to the exient that these are applied to its charitable objects. 12 Tanglble flxed assets Freehold land and bulldlng3 Plant and equlpment Offlcg Equlpment Total Cost At 1 January 2022 Addltlons 2,273,988 3,021,560 8,702 44,298 5,339,844 8,702 At 31 D8cember 2022 2,273,988 3,030,262 44,298 5,348,548 Depreclatlon and Impalnnent At 1 January 2022 Depreciation charged In the year 675,518 2,567,972 48,138 91,773 36,797 2,812 3,280,287 142,723 At 31 t)ecember 2022 723,656 2,659,745 39,609 3,423,010 Carrying amount At 31 December 2022 1,550,330 370,517 4,689 1,925.536 At 31 December 2021 1,598,467 453,588 7,500 2,059,555 -21
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 13 Stocks 2022 2021 Raw materials and consumables 498,600 278,433 14 Debto 2022 2021 Amounts falllng due wlthln one year: Trade debtors Other debtors Prepayments and accrued Income 9,092 99,351 6,758 7,092 62,900 39,739 115,201 109,731 15 Credltors: amounts falllng due wlthln one year 2022 2021 Other taxallon and 8oci818ecurlty Trade creditors Other credltors Accruals and deferred income 8,444 318,926 24,233 31,443 8,585 50,304 35,971 27,102 383,046 121,962 16 Retlrement beneflt schemes The charity operates a deflned contribution pension scheme for all qu8llfylng employees. The a88ets of the scheme are held separately from those of the charity In an independently adminlstered fund. The entlre expense Is allocated to unrestricted funds as are all employee expenses. The charge to profit or loss In respect of defined contribution schemes was £26,69012021- £30,107). 17 Analysls of net assets between funds General Restrlcted Funds Funds 2022 2022 Total General Funds 2021 Restricted Funds 2021 Total 2022 2021 Fund balances at 31 December 2022 are represented by.. Tangible assets Current assetsl{liabilities) 1,925,536 1,873,716 1,925,536 1,874,731 2,059,555 1,368,316 2,059,555 1,368,949 1,015 632 3,799,252 1,015 3,800,267 3,427,871 632 3,428,504 The general reserve represents free funds of the charity which are not designated for partlcular purposes. -22-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 18 Restrlcted fund8 The income funds of the charity include restricted funds comprising the following unexpended balanS of donations and gr8nts held on trust for specific purposes= Movèment In funds Incomlng Resources Balance at 31 resources expended December 2022 Balance at 1 January 2022 Children's Literature Fund Indian Orphanages 858,803 4,490 <858,803) {4,107) 632 1,015 Chlldren'8 Llterature Fund This fund seeks to provide CEF flashcards, teachers, manuals and children's devotlonal booklets to CEF workers In many parts of the world. It also supports the work of Bible Education Services by printing chlldr8n's devotlonal booklets In a number of languages. Mailbox Club also benefils from this fund, they have requested three mlllion children's Bible courses. In addition, monies from this fund go towards prlnting Revlval Movement's own chlldren's tracts and publlcations and the Creatlon to Christ A3 Blble tlashcards. The charSty has taken over the printlng of more of the ACEW publlcatlons and these will become RMA publlcation8. Indlan Orphanages Thls fund represents rnonies donated for the purpose of helplng orphanages in India. 19 Related party transactlons Transactlons wlth related partles During the year the charity entered Into the following transactlons with related parties.. Servlces recelved 2022 2021 Other related parties 1,085 742 1,085 742 The services received consisted of cleaning services provided by Office Hero Ltd, a company owned by David Adams, son of trustee Samuel Adams The servlces are provided under normal market conditians. At 31 December 2022 there was no money outstanding. 20 Analysis of chang98 In net funds The charity had no debt durlng the year. -23-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 21 Cash generated from operatlons 2022 2021 Surplus for the year 371,783 206,464 AdJustments for: Investment income recognlsed in profit or loss Depreciation and impairment of tangible fixed assets (1,028) 142,723 (1,267) 141,952 Movements in working capital.. (Increase) in stocks (Increase) in debtors Increase In creditors (220,167) (5,473) 261,084 (2,124) (30,246) 10,726 Cash gonerated from operatlons 548,902 325,505 -24-