Charlty regl8tratlon number NIC101172 Company registratlon number N1007497 (Northern Ireland) REVIVAL MOVEMENT ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
REVIVAL MOVEMENT ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION Trustaes Mr. Samuel Adams Mr W C Allen MrJPAlen Mrs. Heather Mercer MrA Fitzsimmons Mr D Watson Mr Michael Verner Mr Rodney Gamham Secretary Mrs. Heather Mercer Charlty number NIC101172 Company number N1007497 Prlnclpal address 10 Klnallen Road Dromara Dromore Co Down N Ireland BT25 2NL Regl8tered office 10 Klnallen Road Dromara Dromor8 Co Down N Ireland BT25 2NL Audltor Mccreery Turkington Stockman Ltd 1 Lanyon Quay Belfast Co Antrim Northern Ireland BT13LG Sollcltor8 McFarl8nd Graham Mccombe 4143 Bachelors Walk Llsburn Co. Antrim BT28 1XN
REVIVAL MOVEMENT ASSOCIATION CONTENTS Page Trustees, report Independent audltorfs report ststement of financial actlvlties 10 Balance sheet 11 Statement of cash flows 12 Notes to the financial siatements 13-24
REVIVAL MOVEMENT ASSOCIATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and flnancial statements for the year ended 31 December 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to accounts and comply with the Charity's Memorandum and Articles of Association. Ihe Companies Act 2008 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) published in October 2019" ObJectlve8 and actlvltles The charity's objectives and principal activities are to print and distribute Christian publicatlons for both adults and children. Their aim is to print in multiple languages in order to asslst as many missionary organisations, churches and evangelists as possible in most countries of the world. The charity has many individual projects that help further their overall aims. The following are two examples of said projecls',- The charity has embarked on a major project with Every Home lor Christ to provide 20 million leaflets in Spanish. Portuguese, Creole and Dutch for distribution throughout Latin and Central America, including the Caribbean. These leaflets will be made up into packs and given to churches which will encourage members lo take a pack containing 52 leaflets, one leallet to be shared each week of the year. The charity is working in partnership with CEF in order to provide flashcard Blble lessons to be used In a major outreach worldwide involving Christmas party clubs. These are one-off children's events when millions of boys and girls are reached with the good news of the Gospel. The trustees have paid due regard to guldance Issued by ihe Charity Commission in deciding what aclivities the charity should undertake. The charity is appreciative of the efforts of its volunteers who are involved in service provision. It is estimated that over 4,500 volunteer hours were provided during the year. If this is conseNatively valued al £10.42 an hour, the volunteer effort amounts to £46,890. Achlevements and p8rfomiance The main area of charitable activity is the printing and distnbution of Christian literature. During 2023, 1,368 tonnes of paper were used in the production of literature. This produced 87 million pieces of literature.. 5,381,000 Gospels., 8,180.984 Scripture and Gospel booklet5- 72,618,000 Gospel tract5 and leaflets- 490.409 sets of Children's Bible Lessons., and 173,000 books. A total of 52 containers 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 2023 Flnanclal revlew During the current year the charity had a surplus of £401,358 with accumulated reserves of £4,201,626 erv The trusteesldirectors retain funds in the charitable company for the following reasons.. a) to finance the ongoing runnlng costs of operallons; and b) to provide funds available al short notice to finance the objectives of the charity and facilitate the plans for the future. The trusteesldirectors calculate that £1.054,445 of unrestricted reserves are required to finance annual running costs, in addition at any one time liquid funds of approximately £350,000 are required to finance the purchase of paper, which is ordered three months Sn advance. Unrestricted and undesignaled reserves are currently £4,200,092 and on the basis of the Informatlon above the tru5teesldlrectors are satisfied that this level of reserves is acceptable. In addition, there are £1,534 of restricted reserves. sofF The principal sources of funding are donations, gifts and legacies. The cash reserves have increased this year due lo a net inflow of resources In the year on operatlng activities. Surplus funds continue lo be held on short term deposit. AA The trusteesldirectors review the major risks to the charitable company on an ongoing basis. Income levels are regularly monitored and advised to contributors through the monthly newslelter. All transactions and projects are aulhcrised by trusteesldireclors, thereby minimising interna15 risks, Procedures are in place lo ensure compliance with health and safely of staff and volunteers, clients and visitors to the premises. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. 2024 marks the 75th anniversary of the commencement of the Revival MovementAssociation. It was founded in 1949 by Mr William Ernest Allen who slarled to publish booklets on the subject of Revival. The Every Home Crusade branch of the ministry subsequently began in 1960 and the organisation has grown steadily down through the years. To celebrate this milestone, a 75th anniversary conference and two anniversary dinners are planned, The charity is conducting a feasibility study regarding extending the factory at Kinallen wth the long-term viaw of changing machinery to increase production. structure, governance and management Governin Document The charity is a company limited 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 itsArticles ofAssociation. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.
REVIVAL MOVEMENT ASSOCIATION TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees, who ar8 also the directors for the purpose of company law, and who served during the year were: Samuel J Adams (Joint Chief Executive) W Clive Allen (Joint Chief Executive) J Paul Allen Heather Mercer (Mission Secretary) Austin Fitzsimmons David Watson Michael Verner Rodney Garnham Individuals are invlted to seNe as directorsltruslees on the basis of their abilities and background so as to achieve a balance between those from business, voluntary and charity sectors. Under the requirements of the Memorandum and Articles ofAssociation one third of the directorsltruslees retire each year and are eligible for re-election. Samuel Adams and Austin Filzsimmons are due lo retire by rotation and, being eligible, offer themselves for re-election. None of the trustees has any beneficial interesl 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 directorsltrustees of 8 members who meet regularly and are responsible for the stptegic direction 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 working on Ihe policies and structures within the organisation. The Mlssion Directors, Clive Allen and Samuel Adams, are responslble for the day to day operating declsions thin the factory. Heather Mercer, the Mlssion Secretary, a8 an Executlve Director. is consulted before decisions are made and is involv8d in administration and Is responsible for accounts. Most directorsltrustees ere already aware of the activities of the charity prlor to appointment. When invited to serve they are provided with details of the charlty's objectives and its day to day operations. The remuneration of key management 15 set using the same parameters as all other staff. which is based on the individual's length of Servi to the charity.
REVIVAL MOVEMENT ASSOCIATION TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 the The charity co-operates wth the following organisations in the pursuit of it8 charitable objectives.. ACTS Nigeria Child Evangelism Fellowship,. Biblemission., Bible Education Services-. Every Home for Christ., Interlink Missionary Agency., Mailbox Club- India Bible Literature.. China Tourist Ministries., Emmaus., Rock International., and Paul Williams (Romania) ststement of tru8tees' rg8ponslbllltle8 The trustees, who are also the directors of Revlval Movement Association for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. Company Law requires the trustees to prepare financial statement8 for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, oflhe ch8rilable company for that year. In preparing these flnanclal ststements, the trustees are requlred to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP 2019 (FRS102)', make judgements and estimates that are reasonable and prudent., slate whether applicable UK Accountlng Standards have been followed, subject to any materlal departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate lo presuw£ that the charity will continue in operation. The trustees are responsible for keeplng adequate accounting records that disclose with reasonable accuracy at any tsme the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the prevention and detaction of fraud and other Irregularilies. Audltor In accordance with the company's articles, a resolution proposing that Mccreery Turkinglon Stockman Ltd be reappointed as auditor of the company will be put at a General Meeting. Dlsclosure of Informatlon to audltor Each of the trustees has confirmed that there is no infomation of which they are aware which is relevanl to the audit, but of which the auditor is is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information 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 2023 In Mrs. Heather Mercer Trustee Dated.. 28 May 2024
REVIVAL MOVEMENT ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF REVIVAL MOVEMENT ASSOCIATION Qualified opinlon We have audited the financial statements of Revlval Movement Association (the 'charity') for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial ststements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Iland (United Kingdom Generally Accepted Accounting Practice). In our oplnion, except for the possible effects of the matter described In the Basis fof Qualified Opinion section of our report, the financial statements.. give a true and fair view of the state of the chantable company's affairs as at 31 December 2023 and of Its incoming resources and application of resources, including Its Income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accountlng Practi. and have been prepared in accordance with the requirements of the Companies Act 2006. Ba818 lor quallfled oplnlon With respect to the fixed assets, audit evldence in relation to property wilh a carrying value of £73,800 was Ilmited. 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 Nigeria, with whom Revival Movement Association has worked for many years. The organisation is registered in Nigeria and is also linked to a UK charitable organisation. We were unable lo obtain sufficient appropnale audit evidence regarding the valuation, existence and title to this asset a8 the18gal process in still ongoing in Nigeria. Vde conducted our audit in accordance wlth Internatlonal Standard8 on Audlting (UK) {ISAs (UK)) and appllcable law. Our responsibllltles under those standards are further described in the Audiloffs Trsponslbilities for the audil ol tho financial statemgnts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustee5' use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of al least twelve months from when the financlal statements are authorised for issue. Our responsibilities and the responsibilities of Ihe Iru81ees with respect to going concern are described in the relevant sections of this report.
REVIVAL MOVEMENT ASSOCIATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF REVIVAL MOVEMENT ASSOCIATION Other Infomiatlon The trustees are responsible for the other informalion. The other information comprises the information included in the annual report, other than the financial statement5 and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent othemise explicitly stated in our report, we do not express any fonn of assurance conclusion thereon. In connection wlth our audit of the financial statements, our responsibility is to read the other information and. in doing so, consider whether the other information Is materially inconsistent wilh the financial statements or our knowledge obtained In the audit or otherw15e appears lo be materially mls5t8ted. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether there is a material misstatement in Ihe financial statements or a material misstatement of the other information. If, based on the work we have performed, we condude that there is a material misstatemenl of Ihi8 Other information, we are required to report that fact. We have nothing to report in this regard. Oplnlon8 on other matters prescrlbed by the Companles Act 2006 In our oplnion, based on the work undertaken In the course of our audit.. the information given in the trustees, report for the financial year for which the flnancial statement8 are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial statements., and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and understanding of the charity and It8 envlronment obtained In the course of the audSt, we have nol identified malerial misslatemenls in the directors, report Included within the trusteo8' report. In respect solely of the limitation on our work relating to the Nigerian property described above.. we have not obtained all the information and explanations that we considered necessary for the purpose of our audit. we were unable to detemiine whether adequale accounting records had been maintained. We have nolhlng to report In respect of the following matter5 in relatlon to which the Companies Act 2006 requires us to report to you If, in our opinion.. the financial statements are not in agreement with the accounting records and returns., or certain disclosures of truslees, remuneration specified by law are not made. the trustees were not enlitled lo prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement lo prepare a strategic report. Responslbllltlès of trustees As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the charity for the purpose of Company law, are responsible for the preparation of the financial statements and for being satisfied Ihat they give a true and fair view, and for such internal 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 assessing the charity's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and uslng the going concern basi5 of accounting unless the trustees either intend to liquidate the charilable company or to cease operations, or have no realistic alternalive but lo do so.
REVIVAL MOVEMENT ASSOCIATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF REVIVAL MOVEMENT ASSOCIATION Audltorf8 responslbllStles for the audlt of the flnancial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from malerial misstatement, whether due to fraud or error, and to Issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS {UK} will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilitie5. outlined above, lo detect material misslalements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud, is detailed below. INe gained an understanding of the legal and regulatory framework applicable to the charity and considered the risk of acts by the charity which were contrary to the applicable laws and regulations, including fraud. These included, but were not limited to, compliance with the Companies Act 2006, FRS102 "The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland and Ihe Charities SORP (FRS102). We focused on laws and regulations that could give rlse to materlal mi88talemenls in the financial 8latemenl8. Our tests included, but were not limited to.. Agreement of the financial Statement disclosures to the underlying supporting documentation., Enquirie5 of management, Review of Trustee meeting5 throughout the period- and Review of any transactions with, or correspondence with, the charity's solicitors. We also communicatlon the relevant laws and regulations and potential fraud risk to the engagement team and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that Ihe risk of not detecting a material misstatement due to fraud is 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 Ilmltations in the audit procedures described above and the further removed non-compliance Ih laws and regulations Is from events and transactlons reflected In the flnanclal statements, the less likely we are to become aware of it, As in all our audits, we address the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud. A further descripllon of our responsibllltles is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. The extent to whlch our procedures are capable of detecting irregularitSes, including fraud, is detailed below. A further description of our responsibilities is available on the Financial Reporting Council's website at: http5:11 www.frc.org.uklauditorsresponsibilities. This description fomis part of our auditor's report. Use of our report This report is made solely to the company's members, as a body. in accordance WTth section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company's members those matters we are requlred to slate to them in an auditor's report and for no other purpose. To the fullest extenl permitted by law, we do not accept or assume responsiblllty to anyone other than the company and the company's members as body. for our audit work, for this report, or for the opinions we have formed.
REVIVAL MOVEMENT ASSOCIATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF REVIVAL MOVEMENT ASSOCIATION Mr. Rlchard Mcclay (Senlor Statutory Audltor) for and on behalf of Mccreery Turklngton Stockman Ltd 28 May 2024 Chartered Accountants Statutory Audi 1 Lanyon Quay Belfast Co Antrim Northern Ireland BT13LG
REVIVAL MOVEMENT ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlct8d Restrlcted funds funds 2023 2023 Totsl Unrestricted Restrlcted funds funds 2022 2022 Total 2023 2022 Notes Income and endowmonts from: Donation8 and legacies Charitable activitles Investmen15 Other income 2,621,543 160,322 1,449 89,474 985,134 3,606,677 160,322 1,449 89,474 2,090.207 167,618 1,028 80.051 863,293 2,953,500 167,618 1,028 80,051 Total Income 2,872,788 985,134 3,857,922 2,338,904 863,293 3,202,197 Expendlture on: Charitable activltles Other expenditure 2,478,912 (6,963) 984,615 3,463,527 (6,963) 1,967,524 862,910 2,830,434 13 Total expendlture 2,471,949 984,615 3,456,584 1,967,524 862,910 2,830,434 Net income and movement In funds 400,839 519 401,358 371,380 383 371,763 ReGonclllatlon of funds: Fund balances at 1 January 2023 3,799,252 1,015 3,800,267 3,427.872 632 3,428,504 Fund balances at 31 December 2023 4,200,092 1,534 4,201,626 3,799,252 1,015 3,800,267 The statement of financial activities inGludes all gains and losses recognlsed In the year. All Income and expendilure derive from continuing activities. 10-
REVIVAL MOVEMENT ASSOCIATION BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Current assets Stocks Debtors Cash al bank and in hand 16 1,928,736 1,925,536 14 15 442,513 88.131 1,995,576 498,600 115,201 1,843,976 2,504,220 2,257,777 Creditors: amounts falllng due within one year 17 (231,330) (383,0461 Net current assets 2,272,890 1,874,731 Total a89at81888 current Ilabllltle8 4,201,626 3,800,267 Income funds Restricted funds Unrestricted funds 21 1,534 4,200,092 1,015 3,799,252 4,201,626 3,800,267 These financial slatemenls have been prepared in accordance wilh the provisions applicable to companies subject to the small companies regime. The accounts were approved and authorised for issue by the Trustees on 28 May 2024 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 2023 2023 2022 Notes Cash flows from operating activities Cash generated from operations 24 503,452 548,902 Investlng activitles Purchase of tangible fixed asset8 PrOedS on disposal of tangible fixed assets Interest received (160,267) {8,7021 8.963 1,449 1,028 Net cash used In InvestSng actlvlties 1151,855) (7,674) Flnanclng actlvltles Net cash used In flnanclng actlvltles Net Increase In cash and cash equlvalents 351,597 541,228 Cash and cash equivalents at beginning of year 1,643,976 1,102,748 Cash and cash equlvalents at end of year 1,995,573 1,843,976 12-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Charlty Information Revival Movement Association is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 10 Kinallen Road, Dromara, Dromore, Co Down, BT25 2NL, N Ireland. 1.1 Accountlng convention The accounts have been prepared in accordance wilh the charity'5 Memorandum and Articles of Association, the Companies Acl 2006 and 'Accounllng and Reporting by Charities.. Stalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (issued in October 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial stalements are prepared in sterling, which is the functional currency of the charfty. Monetary amounts in these financial statements are rounded to the nearest £. The financi85 statements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Golng 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 existen for Ihe foreseeable future. Thus the trustees continue to adopt the going concern basls of accounting in preparing ihe financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds are unrestricted funds earmarked by the trusleesldirectors for particular purposes. Restricted funds are subject to speclfic conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are Set out in the notes lo the financlal statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Incomlng resources 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 reGognised 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 Ihe gift and also included in the Statement of Financial Activities as an incoming resource. Legacles are recognised on recelpt or othe13e if th8 charity has been notified of an impendlng dlstribulion, the amount is known, and receipt Is expected. If the amount 18 not known. Ihe legacy is treated a5 8 contlngent 888et. The charitable company benefits from the involvement and enthusiastic support of its volunteers, details of which are given in the annual report. In accordan wth accounting standards, the economic contribulion of general volunleers is not measured in the accounts. 13-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policles (Contlnued) Grants towards charitable activities are released to the SOFA as the related expenditure is incurred. 1.6 Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to either charitable activities or governance. 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. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of resources. The allocation is based on the apportionment of wages and salaries between administration costs and production costs. 1.6 Tanglble flxed assets Tangible fixed assets are Initially measured at cost and subsequently measured at Cost or valuatlon, nel 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 Plant and equipment Office Equipment 20A140/o Slraight Llne 100h Stralght Llne 20•h Stralght Llne 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 Impaimient of flxed 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 Ioss, If any such IndatIOn exists, the recoverable amount of the esset Is estimated in order to d8t6rmine 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. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are rneasured the lower of replacement cost and cost, Cost is calculated uslng first in, first out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. Nel realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing. selling and distribution. 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 overdraft5 are shown within borrowings in current liabilities. 14-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcios (Contlnued) 1.10 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financlal instruments are recognised in the charity's balance sheet when Ihe charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wilh the net amounts presented in the financial slatements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic flnanclal assets Basic financial assets, which includ8 debtors and cash and bank balances, are inltially measured transaction price including transaclion costs and are subsequently carried at amortlsed cosl using the effective interesl method unless the arrangement constitutes a financing Iransaclion, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic flnancial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the psent value of the future payments discounted at 8 market rate of interest, Financial liabilities classified as payable within one year are not amortl8ed. Debt instruments are 8ub8equently carried at amortlsed cost, U81ng the effecllve inlere8t rate method. Trade creditors are obligations to pay for goods or services 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 liabilities. Trade creditors are recognised initially and subsequently at transaction price. Derecognltlon of flnanclal Ilabllltlés Financial liabllities are derecognised when the charity's contractual obligations expire or are dlscharged or cancelled. 1.11 Taxatlon The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered lo pass the lests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore meets the definib'ion of a charitable company for UK corporation tax purposes. 1.12 Employee beneflts The cost of any unused holiday entitlement is recognised in the pertod 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 termlnation benefits. 1.13 Retirement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due, 15-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles (Contlnued) 1.14 Foreign exchange Transactions in foreign currency are translated into Sterling at the rate of exchange ruling at the date of the transaction. Assets and liabilities in foreign currencies are translated into Sterling at the rates of exchange ruling at the balance sheet date. Exchange dlfferences are taken Into account in arriving at the operatlng result. Crltlcal accountlng estlmat8s and Judgements In the application of the charity's accounting policies. the trustees ar8 required to make judgements, estimates and assumptions about the carrying amount of assets and liabilitles that are not readily apparent from other Sources. The eslimates and associated assumptions are based on hlstorlcal experience and other factors that are consldered to be relevant. Actual results may differ from these estlmate8. The estimates and underlying assumptions are reviewed on an ongoing basis. Revislons to accounting estimates are recognised in the period in which the estimate is revised where the revi5lon affects only that period, or in the period of the revision and future periods where the revision affec15 both current and future periods. Income from donatlons and legacles Unrestrfcted Restrlcted funds funds 2023 2023 Total Unrestrlcted Restrlcted funds funds 2022 2022 Total 2023 2022 Donatlons and gifts Legacies receivable 1,786,548 834,995 985,134 2,771,682 834,995 1,637.612 452,595 863,293 2,500,905 452,595 2,621,543 985,134 3,606,677 2,090,207 863,293 2,953.500 Donated goods The charity benefits from the involvement and enthusiastic support of Its volunteers, details of which can be found in the Annual Report. 16-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from charilable actlvlt188 Unrestrlcted funds 2023 Unrostrlcted funds 2022 Sales of Llterature Income from charitable activities 123,272 120,755 Offerlngs at Meetlngs Income from charitable activities 37,050 46,863 160,322 167,618 Incorne from Investments Unrestrlcted Unrestricted funds funds 2023 2022 Interest receivable 1,449 1,028 Other income Unrestrlcted funds Total 2023 2022 Other iricome Sale of Recyclable Goods nd Turbine and Solar Panel Income 17,213 72,256 23,390 56,656 89,474 80,051 17-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charltsble activltSes 2023 2022 Staff costs Depreciation and impairment Printing Purchase of Literature Postage and Freight Boxes and Packaging Light, Heat and Power Repairs and Maintenance Computer Costs Travel Equipment Hlre BrazillNigerla Depot Expenses Donations 546,282 105,364 1,782,898 94,669 409,129 13,088 92,436 112,270 4,063 14,557 5,030 55,890 4,843 434,945 91,773 1,365,313 299 447,641 11,928 104,706 62,430 4,329 12.520 9,995 56.487 7,913 3,240,519 2,610,279 Share of support costs (see note 11) Share of governance costs (see note 11) 192,345 30,664 184.532 35,623 3,463,527 2,830,434 Analysls by fund Unrestricted funds Restricted funds 2.478,912 984,615 3,463,527 For the year ended 31 December 2022 Unrestricted funds Restricted funds 1,967.524 862,910 2,830,434 Net movement in funds 2023 2022 The net movement in fvnds is stated after chargingl(crediting)'. Exchange lossesllgains) Fees payable for the audil of the charity's financial statements Depreciation of owned tangible fixed assets Profit on disposal of tangible fixed assets 1,028 11,413 157,060 16,9631 (250) 11,313 142,723 18-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees rustee Remune ion The following directorsltrustees received gross salaries, including overtime where appllcable, in the year ended 31 December 2023: Samuel Adams £32,862 Clive Allen £23,349 Heather Mercer £23,196 The charitable company made pension Gontributions in respect of the following directorsltrustees in the year ended 31 DeGember 2023.. Samuel Adams £1.065 Clive Allen £684 Heather Mercer £678 The legal 8ulhority for the p8yment of remuneration to dlrectorsltrustees is the charity's Memorandum and Articles of Association. No other directorsltrustees, or persons connected to Ihem, received remuneration in the year. In the year ended 31 December 2023, the charitable company reimbursed direclorsllru8tee8 a totsl of £1,717 in relation to travel expenses incurred in providing service8 to the charitable company. 10 Employees The average number employees during the year was.. 2023 Number 2022 Number ManagementlAdmini5tration Op8rative8 23 20 Total 26 23 Employment costs 2023 2022 Wages and salaries Social security costs Other pension costs 583,067 42,556 15,115 475,512 33.932 12,489 640,738 521,933 There were no employees whose annual remuneration was more than £60,000. 19-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Employ868 (Contlnuedl Remuneratlon of key management personnel The remuneration of key management personnel was as follows.. 11 Support costs Support Governance costs costs 2023 2022 Basis of allocatlon Staff cosls Depreciation Exchange Lossesl(gains) Insurance and Rates Printlng, Stationery and Telephone Legal and Professional General Expenses 94,456 51,696 1,027 8,184 6,724 3,477 1,875 24,906 94,456 51,695 1,028 9,606 7,892 4,081 1,875 24,910 86,988 50,949 (250) 8,208 Wages 7,154 Wages 5,531 Wages 2.040 27,381 1.422 1,168 604 Audit fees Light, Heat and Power 11,413 16,057 11,413 16,057 11,313 20,841 Wages 192,345 30,664 223,013 220,155 Analysed between Charitable activities 192,345 30,664 223,009 220,155 Governance costs includes payments to auditors of £11,413 {2022 - £11,313) for audit fees. 12 Taxatlon The charity is exempl from taxation on its activities because all Its income is applied for charitable purposes. 13 Other Expenses 2023 2022 Net loss on disposal of tangible fixed assets <6,963) {6,963) 14 Stocks 2023 2022 Raw materials and consumables 442,513 498,600 -20-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Debtors 2023 2022 Amounts falllng due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 7,533 51,347 7,251 9,092 99,351 6,758 66,131 115,201 16 Tanglble fixed a88et8 Freehold land and bulldlngg Plant and equlpmont Office Equlpment Total Cost Al 1 January 2023 Additions 2,273,986 2,900.282 21,901 135,902 44,298 2,459 5,218,548 160,262 Al 31 December 2023 2,295,887 3,036,164 46,757 5,378,808 Depreclatlon and Impalrment Al 1 January 2023 Depreciation charged In the year 723,656 2,529,746 48,576 105,364 39,610 3,120 3,293,012 157,060 Al 31 December 2023 772,232 2,635,110 42,730 3,450,072 Carrying amount At 31 December 2023 1,523,655 401,054 4,027 1,928,736 At 31 December 2022 1,550,330 370,517 4,689 1,925,538 17 Creditors: amounts fallin9 due wlthln one year 2023 2022 Other taxalSon and social security Trade creditors Other creditors Accruals and deferred income 11,941 168,888 21,645 28,858 8,444 318,926 24,233 31,443 231,330 383,046 21
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Unrestrlcted funds The unrestricted funds of the charfty comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2023 Incomlng resources Resources expended At31 December 2023 General funds 3,799,253 2,872,788 {2,471,949} 4,200,092 Prevlous year: At 1 January 2022 Incomlng resource8 Resources expendgd At31 December 2022 General funds 3.427,872 2,338,904 (1,967,524) 3,799,252 19 Rotlrement boneflt schemes Deflned contrlbutlon schemes The charlty operates a defined contributlon penslon scheme for all quallfying employees. The assets of the scheme are held separalely from those of the charity in an independently administered fund. The entire expense is allocated to unrestricted funds as are all employee expenses. The charge to profit or loss in respect of defined contribution schemes was £31,455 {2022 - £26,690> 20 Analy818 of net assets between funds General Restrlcted Funds Funds 2023 2023 Total General Restrlcted Funds Funds 2022 2022 Total 2023 2022 Fund balances at 31 December 2023 are represented by.. Tangible assets Current assetsl(liabilities) 1,928,736 2,271,356 1,928,736 1,534 2,272,890 1,925,538 1,873,715 1.925.536 1,874,731 1,015 4,200,092 1,534 4,201,626 3,799,251 1,015 3,800,267 The general reserve represents free funds of the charity which are not designated lor particular purposes. -22-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 RestrScted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement in funds Incoming Resources Balance at 31 resources expended December 2023 Balance at 1 January 2023 Children's Literature Fund Indian Orphanages 980,594 4,540 (980,5941 (4,021> 1,015 1,534 1,015 985,134 (984,815} 1,534 Chlldron's Llterature Fund This fund seeks to provide CEF flashcards, teachers, manuals and children's devotional booklets to CEF workers in many parts of the world. It also supports the work of Bible Education Services by printing children's devotional booklets in a number of languages. Mailbox Club also benefits from thi5 fund, they have requested three million children's Bible courses. In addition, monies from this fund go towards printing Revival Movement's own children's tracts and publications and the Creation to ChrislA3 Blble flashcards. The charity has taken over the prlntlng of more of the ACEW publlcations and these wlll become RMA publications. Indlan Orphanages This fund represents monies donated for the purpose of helping orphanages in India. 22 Analysls of changes In net funds The charity had no material debt during the year. 23 Related paty transactions Transactlons wlth related partles During the year the charity entered Into the following transactions wlth related parties.. Services received 2023 2022 other related parties 1,395 1,085 1,395 1,085 The services received consisted of cleaning ServIS provided by Office Hero Ltd, a company owned by David Adams, son of trustee Samuel Adams The services are provided under normal market conditions. At 31 December 2023 there was no money outstanding. -23-
REVIVAL MOVEMENT ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 24 Cash generated from operatlons 2023 2022 Surplus for the year 401,358 371,763 Adjustments for- Investment income recognised in protit or Ios8 Gain on disposal of tangible fixed assets Depreclalion and impairment of tangible fixed assets (1,449) (6.963) 157,060 11,028> 142,723 Movements in working capital.. Decreasellincrease) in stocks Decreasel(increa5e} in debtors (Decreasellincrease in creditors 56,087 49,075 (151,7161 {220,167) 15,473) 261,084 Cash generated from operatlon8 503,452 548,902 -24-