Registered Charity Number 1004343
NEW COVENANf CHURCH
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
3111212024
JASH BURTON B'CHAUCER
Chartered Certified Accountants & Tax Advisors
27 Gloucester Street, London, WCIN 3AX
Tel: 0208 6112684 Web: www.jashburton.com
El: info@jashburton.com E2: jashburtonb@gmail.com

NEW COVENANT CHURCH
Annual Trustees Report and Financial Statements
Year Ended 31 December 2024
CONTENTS
Page
Legal and administrative inforn]ation
Report of the Trustees
Independent Examiner's Report
Statement of financial activitics
Balance sheet
10
Notes to the financial statements
11-12
Detailed Income and expenditure accounts

NEW COVENANT CHURCH
Annual Trustees Report and Financial Statements
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees:
Deborah Adeshina
Jamcs Bamigboyc
Edward Edumijeke
Tonye Eke
Registered office:
506 - 510 Old Kent Road
Berniondsey
London
SEI 5BA
Charity number:
1004343
Accountants and
Independent Examiners
Jash Burton B'chaucer
Chartcred Certified Accountants
27 Gloucester Street
London
WCIN 3AX
Bankers:
Barclays Bank PIC
Natwest Bank PIC

NEW COVENANT CHURCH
REPORT OF THE TRUSTEES
FOR THE I'EAR ELYDED 31 DECEMBER 2024
Re
istered Chari
Iyumber 1004343
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing documenL a Declaration of Trust 1991.
Organisa¢ional structure
The Board of Trustees appointed a Council of Management and other advisers who promote the objectives of the charity. The
Board of Trustees hold meeling5 throughout the year and Council of Management are directed to proinote the policies, strategies
and processes of implementation for the various programmes and projects geared tOW3rd5 achieving the charitable objectives.
These are subjected to conslant revieivs to asse5S Outcomes.
Risk management
The Trustees have a duty to identifv and review the risks to which the Charity is exposed and to ensure appropriate controls are
in place to provide reasonable assurance against fraud and error.
OWECTIVES AND ACTIVITIES
Constitution, Objectives and aims and OrganisatiOD of our Work
The Objectives of the Church is set oul in ihe Declaration of Twst
l ) The advancement of Christian Faith in the United Kingdom and abroad.
2) The relief of persons who are in conditions of need. hardship or distress or who are sick or aged in ihe United Kingdom.
3) The relief of poverty.
Principal Aetivities
The Principal Activities of the charity are Christian worship and involvement of various ministries and ministers of religion in
propagating the Christian Tenets of faith to members land non-members) who seek to learn and develop an understanding of the
Gospel through the various meetings provided by the Church. There is also an extension of the Christian Faiih through other
direct community outreach programmes provided by the churches.
Charitable activities
The Board of Trustees are pleased to report as follows-
PUBLIC BENEFIT
The Advancement of Christian Faith
The Board of Trustees of the charity having due regard for reporting the public benefit provided by the charity in line with the
Charities Act 201 I, are pleased to report thai the church has continued its involvement with many community focused Outreach
programmes and project providing direct benefits for the public in the United Kingdom and abroad.

NEW COVELYANT CHURCH
REPORT OF THE TRLISTEES
FOR THE I'EAR ENDED 31 DECEMBER 2024
istered Charit Number 1004343
Places of worship
In the financial year 2024 the Charity h&8 continued its commitment of the advancement of the Christian Faith in line with its
charitable objectives through the provision and maintenance of all our places for c.hristian Worship in the United Kingdom.
The branches of the charity meet on Sundays for church services. People from all backgrounds and walks of life are welcomed
to a vibranl service with a content of worship, prayers and ihe word of God. Through these services, the unsaved have walked in
through the doors and given their lives io c.hrist. The saved have moved from one level of knowledge to a more in-depth
knowledge of the Christian faith and principles from the teachings received. Some mid-week Bible Studies are still conducted
via Zoom, as it keeps the church communities connected, and enable members 10 log in from their various geographic locations.
The online services reached far more members of the public, locally, nationally and even globally with c.hristian worship,
teachings and prayers. Some branches have opted to do mid-week in bible studies again in physical space. Beneficiaries have
gained spiritual fulfilmeni through sound biblical teachings. resuliing in positive life changing experiences. The Church
operates House groups at least once weekly lo provide addiiional biblical teachings in infornial setiings.
In addition, we hold Th'eekly Bible Siudy sessions via zoom. These meeiings are open to all. Wilh ihe benefit of zoom meetings,
beneficiaries join the bible swdy sessions from differeni locations.
On the first ihree days of each month, we have prayer and fasting sessions were held, with breaking of fast and round up prayers
via online platfomi zoom.
Evangelism
Evangelism remains a core value and o￿tre￿h strategy for the church.
On the first Satyrday of each month. we have a "'Community Leaf letting Outreach" where we access our local community
dislributing leaflets. Through this process, we have seen some people show inlerest in the charity's activities.
The church opened ils doors lo the eniire community, with different Communitv Groups regularly making use of the Function
Hall. We have a standing leam ministering the gospel io these groups from time to time. Some members of ihe public call in for
prayers and to indicale whether thev need assistance and we respond within the scope our charitable objectives.
Youth ￿1]nIS¢ry
The New Covenant Church Youth Ministry ran vibrant Christian youth pro£rammes weekly for the teenage groups on Sundays
which are designed to support their spiritual gromth and help develop positive attributes emanating from Christian teachings and
principles.
The New Covenant Church held special Youth gospel meetings during year through the youth forum Covenant Culture.
The Minster Youth Ministry holds additional youth programme for youths between the ages of sixteen and twenty-one meet. In
those weekly Sunday afternoon programmes the Pastor held discussion on life's choices.
Throughout the year, they participate in church programmes demonstrating their understatino of Christian teachings, principles
and developing skill of public speaking in the church. The Neiv Covenant Church Minster hosted Youth meetings and this
expanded to a Kent wide Youth Conference on the 12th and 13th ofJuly ?024.
Children Ministry
In 2024, the Sunday school ministry focused on building self-confidence and rdising high self-esteem in each child. The
children's ministy provided for the spiritual needs of children every Sunday through age-appropriate bible stories, scripture
teachings and singing of worship songs. The Sunday schools continue to help children enhance their leaming of the Christian
faith.
Furthering the Advancement of Christian Faith
Covenant Men and Women Outreach Ministry
This is an additional outreach ami of the charity which supports the advancement of the Christian Faith. The Charity continued
to deliver these programmes in physlcal spaces. The monthly fellowships enabled beneficiaries to continue to grow in the
Christian faith by encouraging the men and women's groups io develop their personal relationship with Christ through worship,
fellowship, bible study and prayers.
The continuance of these programmes has been crucial for the adult beneficiaries, emotional and spiritual wellbeing in still
being connected with other church members of the church community.

NEW, COVENANT CHURCH
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
istered Charit Number 1004343
Furthering the Advancement of Christian Faith - continued
Community EngAgement
We work together with various groups. charities and individuals to positively impact the community. We engage with these
community organisations with similar charitable objectives, to ensure we meet the diverse needs of beneficiaries. We continue
to work with refom) organizations to support young people coming out of prison by offering thein opportunities to develop their
skills in home refurbishments, painting and woodwork.
We also work with reform organization5 to support young people coming out of pri50n by offering them opportunities to exhibit
their skills, e.g. in home refurbishments, painting, woodworL etc. The Church also benefits from this as these skills are rendered
to the Church free of charge.
On Saturday mornings, we teach young ones table tennis. Thi5 keep5 these children ot7 the streets. This is also used an
evFJngelism tnnl.
The Charity provided Christian Marriage Seminars, to help beneficiaries build their Ma￿lageS in line with Christian principles.
The beneficiaries found this most helpful as it addressed issue that could have othenvise lead to the negative impact of
separation and other Social or economic issues.
Working In Partnership
The Charity collaborates with Liberty Making people Free, a charity that also delivers anti-poverty strategy.
The support given to Liberty Making People Free 15 used to 5UStain basic educational needs of children in villages, where
Liberty provided cl&ssroom in rural areas.
RELIEF OF PERSONS IN CONDITIONS OF NEED, HARDSHIP, DISTRESS, SICK OR AGED
The Charity continues to provide relief to person5 who are in conditions of need, hardship or distress or who are sick or aged.
Providing for the Elderly Other Low Income Familie5
The Charity's branch in NCC Transfomiing Lives (fornierly the Peckham location) provided financial support to the elderly.
This initiative is also part of our antipoverty strategy lo help needy families.
PastorAI Training
The charity provided Annual Pasioral Training to equip the Pastoral Teams of the charity, to enable them to carry out their
pastoral duties assigned by the charity. This ensured that the best possible pastoral care was provided to the beneficiaries in
need.
Pastoral Care & Bereavement Support.
Branches of the Charity provided care and counselling to bereaved families who 105t loved ones. The charity additionally
provides financial help to bereaved families to assist them in times of difficulties. Members and non-members of the church
seek such support in such times of loss. The charity provided ongoing pastoral care to beneficiaries according to their needs.
The charity's visitation team responded to the needs of those who were be sick at home. or in hospital.
CouD5ellillg Service
The Church is opened to the community at our various locations. Beneficiaries are seen by appointmenl and walk-in
Wednesday and Thursdays between l O.OOhrs and noon. This service is completely free of charge lo the community.

NEW COVENANT CHURCH
REPORT OF THE TRUSTEES
FOR THE I'EAR ELYDED 31 DECEMBER 2024
Re
istered Chari
Iyumber 1004343
RELIEF OF POI'ERTY AND HARDSHIP
-Mealg Outreaeh Programme & Homtlttsness
The charity provides Meals Outreach Programme at ihe NCC Transforming Lives location.
Beneficiaries were homeless persons ivho approach the church for assistance.
The charity has also provided. outreach in the park where meals and refreshments were also provided.
The charity continue to meet ihe needs of beneficiaries. and will to plan year on year to provide for those in need, while
advancing ihe Christian faith through provision of places of worship and to coniinue to provide practical community
programmes in line with our charilable objectives.
STATEMENT OF TRUSTEES RESPOIYSIBILITIES
The trustees are responsible for preparing the Report of the Twstees and the financial stalements in accordance with applicable
law and United Kingdom Accounting Standards (The New United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees, to prepare financial statemenls for each financial
year which give a Irue and fair vie￿. of the state of affairs of the charitable company and of the incoming resources and
application of resources. including the income and expenditure. of the charity for that period. In preparing those financial
statemenls, the trustees are required to-
select suitable accounting policies and then apply them con5iStently-
observe the methods and principles in the Charity SORP-
make judgements and e5timate5 that are reasonable and prudent-
prepare the financial statements on ihe going concern basis unless it is inappropriate lo presume that the charitable company
will Continue in business.
The trustees are responsible for keeping sufficient and proper accounting records that di5c105e with reasonable accuracy at any
time the financial position of the charity and to enable them to ensure that the financial statements comply with applicable Law.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities. The trustees have complied M'ith the duty in section 17(5) of the 201 I Charities Act to
have due regard to guidance published by the Charity Commission (i.e. public benefit statement).
In so far as the trustees are aware=
there is no relevant audit infomia(ion of ￿'hICh the auditors are unaware-
- the trustees have taken all steps that they ought to have taken lo make ihemselves aware of any
relevant audit information and to establish that the auditors are aH'are of that infomiation.
FINALYCIAL REVIEW
The book values of the assets held at the year end are. in the opinion of the Board of Trustees, as stated in the financial
statements. Also, in its opinion, adequate assets are available to fulfil the obligation5 of the charity.
A summary of the result of the New Covenant Church's activities during the period is given in the Ststement of Financial
Activities.
Total income of the charity amounted to £323,758 (2023= £368.787) including income from regular sunday tithes and offering
of £71,755 (2023= £54,018)-

NEW COVENANT CHURCH
REPORT OF THE TRUSTEES
FOR THE I'EAR ELYDED 31 DECEMBER 2024
Re
istered Chari
Iyumber 1004343
FIIYAIYCIAL REN'IEW- continued
Total resource5 expended in the year include direct costs of £231.793 {2023= £219,409} primarily relating to the operational
costs of running the charity, and financing costs of £4.995 (2023= £4.9101 majority of which relate to the loan interests. The
governance costs were mainly made up of audit fee5 and legal and professional expense5. The governance costs are approved by
the Trustees.
The total funds as at 31 December 2024 was £370.325 (2023: £427.674) majority of which related to unrestricted funds.
RESERVE POLICY
The Charity maintains unrestricted funds, which are the free reserves of the charity. at a level that is at least six month5 of
committed expenditure, excluding financing and other costs. Excess unrestricted funds, to the extent represented by liquid
assets, will be used to meet recurrent operational costs, except where the Trustees consider that the funds should be retained for
possible future projects.
INVESTMENT POLICY
The Trustees have the power to invest in such assets as they deem fit. The charity's investment policy is appropriate to the
nature of the funds for which the investment is held. The primary investment airn is to provide a high degree of security and
liquidity and to maximise returns whilst adopting a conservative approach.
GRANT-MAKtNG POLICY
The Charity does not provide grants and therefore do not have a policy on grani-making. The Trustees however, give gifts and
donations as an effective means of delivering support and assistance to other programmes that fit within the objectives of the
Charity. During the year under consideration, total gifts and donaiions amounted 10 £7,84512023: £11,192)
INDEPENDENT EXAMINERS
A proposal ihat Jash Burton B'chaucer be re-appoinlment as Independent Examiners of the charity will be put to the Board of
Trustees at the forthcoming Annual General Meeting.
By Order of the Board of Trustees
-rrigboyelO(t2B,2025 L9.-36.-27GP4TI
James Bamigboye
Sign..
- Print:
10124/2025
Date..
..2025

NEW COVENANT CHURCH
INDEPENDENT EL4MINERS' REPORT
FOR THE YEAR EINDED 31 DECEMBER 2024
We hav¢ cxamin¢d th¢ financial statements on pages 9 to 17 for the year cndcd 31 December
2023, which comprise the statement of financial activities. the balance sheet and the related
notes. Th¢% financial statements hav¢ b¢¢n prepared under th¢ historical cost convention and
the accounting policies set out therein.
The report is made solely to the charity's trustees, as a body, in accordance with Section 44 of
the Charities Act 1993. The Trustees of the charity are of a general opinion that audit is not
required in accordance with Section 4J(2) of the 199J Act or Section 144 of the Charities Act
2011, and have opted for an independent examination instead.
Respective responsibilities of trustees and examiners
The Trustees, who are also the directors, have responsibilities for preparing the Trustee's Report
and the financial statements in accordance with applicable law and United Kingdom Accounting
Standards. These are set out in the Statement of Truslees, Responsibilities in the Report of the
Trustees.
Our responsibility as independent examiners of the charity are:
examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by
the Charity Commission (under section 145(5){b) of the Charities Act, and
to state whether particular matters have come to my attention.
We report to you whether the fmancial statements haTre properly been prepared in accordance
with the Financial Reproting Standard (FRS) 102 (effective l January 2015). the Companies Act
2006 and in accordance with the Charities Act 2011.
We also report to you whether th¢ inforniation given in the Trust¢es' Report is consistent with
the financial statements. We consider the implicalions of our report if we become aware of any
apparent misstatements or material inconsistencies with the financial statements.
In addition we report to you if the charity has not kept proper accounting records, if we have not
received all the information and cxplanations we requir¢ for our M(ork, or if information
specified by law regarding trustees, remuneralion and other transactions with the charity is not
disclosed.

NEW COVENANT CHURCH
INDEPENDENT EXAMINERS, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Basis of opinion
Our examination was carried out in accordance with the Genaral Directions provided by the
Charity Commission. The examination includes a re&iew of the books and documents other
accounting records kept by the charity and comparing these with the accounts presented. Our
examination also includes consideration of any unusual disclosures or iteins in the accounts, and
seeking explanations from the Trustees. It is imperitive to state here that the procedures
undertaken do not provide all the evidence that would be required in an audit, and consequently
no opinion is given as to whether the accounts presenl a 'lrue and fair, Triew. Our report is
therefore limited to the statements below:
Independednt examiners, statement
In connection with our examination. we report that no matter has come to our attention, which
gives cause to believe that the following have noi been mel=
Keeping proper accounting records in accordance with Section 386 and 387 of the
Companies Act 2006 and section l JO of the Charities Act: and
Preparing accounts which accord with the underlying accounting records and which
ar¢ in compliance with th¢ Companies Act 2006 and the Charities Act: and
Consistency of the infomation contained in the Trustees Report with the financial
statements.
JOHN BOYE FCCA
Jash Burton B'chaucer
Chartered Certified Accountants
Date:
29th October . 2025

NEW COVENANT CHURCH
STATEMENT OF FINANCIAL ACTIVITIES (SOFA)
(IINCLUDING IINCOME AIND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted Restricted
funds
funds
2024
Total
2023
Total
Notes
INCOMING RESOURCES
Volunta
income
Donations, tithes and offerings
Activities
or Generatin
Funds
Special fund raising - building project
Other incomin
Gift aid receiN'able
Sundry income
Interest receivable
71,755
71,755
54,018
219.285
219,285
252,387
resources
32,638
70
10
42,810
19,563
70
10
Total incoming resourees
J2J.758
J2J,758
368,787
RESOURCES EXPENDED
(C'osls ofaclivilies infyriherance of ihe
objects of the charity)
Dircct Charitable activities
Management and Support activities
Governance costs
Finance costs
Total resources expended
231,793
94.478
49.841
4.995
J81.107
231,793
94,478
49.841
4.995
381.107
219,409
91,703
4.910
329.860
Movement in funds for the period
Total funds brought fon¥ard
Eliminationrrransfer
Total Funds as at 31 December 2024
{57,J49)
427.674
(57,349)
427.674
38,927
388.747
370.325
370.325
427.674
All of the above results arc derived from continuing activitics. All gains and losses r¢cognis¢d in
the period are included in the above.
The notes on pages 13 to 17 form part of these financial statements.

NEW COVENANT CHURCH
BALANCE SHEET
AS AT 31 DECEMBER 2024
Unrestricted
Restricted
2024
2023
Notes
FIXED ASSETS
Tangible asscts
212.075
212,075
230.891
Current assets
Stock
Debtors and prepayments
Cash at bank and in hand
1.096
22,572
22J,002
246.669
1,096
22,572
223.002
246.669
1,346
22,602
264.030
287,979
10
Creditors.. amounts falling due
within one year
(19.185)
(19.185)
(13,OlJ)
Net current assets
227.485
227,485
274,965
Total assets less current liabilities
439,560
439,560
505,857
Creditors: amounts falling due after
more than one year
12
(69,2J4)
(69,234)
(77,109)
Net assets
J70.J25
370.J25
428,747
Financed by:
Funds
14
370.325
370.325
427.674
Total funds
i70.)25
370.325
427.674
The financial statements wcre approved by thc Board of Trust¢¢s on .
and were signed on its behalf by:
241101
.2025
Sign:
'.4boy.É Ioct 28: 2025 19".36 2? GldTI
Trustee
io

NEW COVENANT CHURCH
INCOME AIND EXPENDITURE ACCOUINT
FOR THE YEAR EfiDED 31 DECEMBER 2024
2024
2023
INCOME
Donations, lilhes and offerings..
Unrestricted
71,755
54,018
Other income
Interest receivable
Gift aid
Missionlbranch contributions
Sundry income
10
32,638
219.285
70
42,810
252,387
19,563
252.003
323,758
314,769
368,787
EXPENDITURE
Direct Chorilable Costs..
Wages
Rates
Honorarium
Travel and subsistence
Evangelism
Welfare support
Training
Pensions
Outreach work
Conferences and Meetings
Missions
TV, Airtime & publicity
Gift and Donations
89,229
8.278
5,954
6.090
409
7.883
46,034
5.099
5,401
7.490
41,334
746
7,845
231.793
87,744
8,095
3,200
5,056
415
15,916
52,750
4,523
620
2,488
25,984
1,426
11,192
219,409
Manogement & Support
Wages
Rent and rates
Insurance
Light and Heat
Telephone
Postage and stationery
Repairs and renewals
38,241
1.017
952
6.286
3,915
187
3.485
54.083
33,924
1,429
1,463
3,798
4,809
522
4,003
49,947
Balances carried fO￿ard
285.875
323,758
269,357
368,787
li

NEW COVENANT CHURCH
INCOME AND EXPENDITURE ACCOUNT- continued
FOR THE YEAR ENDED 31 DECEMBER2024
2024
2023
Balances brought fonvard
285.875
323,758
269,357
368,787
Manogement & Support- conl'd
otTice and general admin
Computer and equipment expenses
Security Expenses
Musicians expenses
Subscriptions
Hospitality and office expenses
Depreciation - Freehold Propertv
Depreciation - Plant and Machinery
Depreciation - Fixture & Furnitures
Depreciation - Computer Equipment
1,774
3.788
2,413
7,838
818
701
5,394
562
3,452
2,292
2,811
15,475
12.167
3,849
3,383
1.719
2,108
11.606
40.395
41,756
Governance cosls..
Legal & Professional
Accountancy fees
45,341
4,500
49,841
9.338
4,500
13,838
Finance Cosls..
Bank charges
Mortgage interests
270
4.725
4.995
406
4.504
4,910
381,107
329,860
Surplus for the period
(57,349)
38,927
12

NEW COVEIYAIYT CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Principal accounting policies
The following accounting policies have been applied in dealing with items which are considered
material in relation to the charity's financial statements.
Basis of preparation
The financial statements haN"e been prepared under the historical cost convention and in
accordance with the Statement of Recommended Practice (SORP): Accounting and Reporting by
Charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011.
Funds
General funds arc unr¢strict¢d funds available for usc at the discretion of the Trustees in
furtherance of the general objectives of the charity and which haTre not been designated for
other puryoses.
Restricted funds can only be used for particular restricted purposes within the objects of the
charity. Restrictions arise wh¢n specified by the donor or when funds are raised for particular
restricted purpose.
Tangible fixed assets
Tangibl¢ fixed assets ar¢ stated at their purchasc or r¢valu¢d amounts, together with any
incidental cost of acquisition.
Dcpreciation is provid¢d on all tangible fixed assets: from th¢ dates they are brought into usc,
at rates calculated to write off the costs/valuation over their expected useful economic
lives as follows:
Land and buildings
Plant and machinery
Fixtures and fittings
Computer and other equipment
costjvaluation
reducing balance
reducing balance
reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Incoming resources
Voluntary income, comprising donations in the forni of regular offerings and tithes. provides
core funding. This is recognised where there is enlitlemenL certainty of receipt and the
amount can be measured with sufficient reliability.
The value of services provided by volunteers is not incorporated into these financial
statements. Further details of th¢ contributions mad¢ by voluntccrs can be found in the
Trustees, Report.
13

NEW COVEIYAIYT CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Resources expended
Direct costs comprise those costs incurred by the charity in the delivery of its activities.
It includes both costs that can be allocated directly to such activities and those costs of an
indirect nature n¢c¢ssary to support them.
Expenditure is recognised on an accruals basis as liability is incurred. Charitable and non-
charitable expenditure is allocated to the respective activities and any shortfall is funded from
unrestricted funds. Where costs cannot be directly attributed to particular headings they have
been allocated to activities on a basis consistent with the use of resources.
Costs of charitable activities are those costs relating to the activities carried out to meet the
obj¢ctiv¢s of the Church. These includ¢ both directly attributable costs and apportioned
support costs.
Governance costs
Governance costs are the costs associated with the strategic direction of the organisation and
with meeting the constitutional. legal and regulatory requirements of the charity.
Staff costs
Total staff costs during the period were:
2024
2023
Salari¢s and Wages
127,470
113.080
No ¢mploy¢e rcceived remuneration of more than £60,000.
The av¢rag¢ numbcr of ¢mployc¢s during the year
19
19
Emolunients to the Trustees
No emoluments were paid to the Trustees. The Trustees however, are reimbursed for
expenses inCu￿ed by them in the course of their duties.
Voluntary income
2024
2023
Tithes and Offerings
Donations
70,655
1,100
71, 755
53,763
255
i4,018
42,810
19,563
252.387
368,778
Gift Aid
Other Income
Mission/branch contributions
70
219.285
323,748
Investment income
Deposit account interest included in voluntary income
14
10

NEW COVENANT CHURCH
NOTES TO THE FINANCIAL STATEMEiYrs
FOR THE YEAR ENDED 31 DECEMBER 2024
Governance eosts
The governance costs of the charity consisted of the following costs:
2024
2023
Accountancy fees
Legal and professional
4,500
45.341
49,841
4,500
9.338
13,838
Finance costs
2024
2023
Bank charges
Mortgage interest
270
4.725
4.995
406
4,504
4,910
Net incoming resources
The net incoming resources are stated after charging the following costs:
2024
2023
Depreciation
18.817
29.019
Tangible fixed assets
All assets are held for charitable purposes
Land &
buildin
Plant &
s machine
Fixtures &
rittin
Com
ui
Cost
Balances b/f
Additions
EliminationlDisposal
Balances c/f
207.880
105,760
71,600
215,525
207.880
105.760
71.600
215,525
Accumulated
reciation
Balanc¢ b/f
Elimination/Disposal
Charge for the year
Balances c/f
38,722
98.884
63,168
169,100
1,719
100.603
2,108
65,276
11,606
180,706
42.105
Net book value
At J111212024
165.775
5.157
6.324
34,820
At 3111212023
169.158
6.876
46,426
15

NEW COVEIYAIYT CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Tangible fixed assets - cont'd
All assels are heldfor charilable purposes
2024
Total
2023
Total
Cost
Balances b/f
Additions
Elimination/Disposal
Balances c/f
600,765
594.944
5,821
600.765
600,765
Aecumulated
reciation
Balance b/f
EliminationlDisposal
Charge for the year
Balanc¢s clf
369,874
345,844
18.817
388,690
24,030
369.874
Net book value
212.075
230,891
Stock
2024
2023
Stock of consumables
1,096
1,346
10. Debtors
2024
2023
Prepayments and accrued income
Other debtors
8,120
14,452
22.572
8,120
14,482
22,602
I l. Creditors due within l year
2024
2023
Loans and overdraft
Other creditors
Accruals
6,925
7.760
4,500
19.185
6.925
2,661
4,500
14,086
Creditors due after l year
2024
2023
12. Loans and overdraft
69,234
77,109
16

NEW COVEIYAIYT CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Taxation
The company is a registered charity and is not liable to corporation tax on its charitable activities
Gift aid donations for which declarations have been recieved from the respective donors confirming
that the given donation be treated as Gift Aid donation are reclaimed by the charity.
14 Reconciliation of funds
Balances at Movement in Resources/funds
Balances at
0110112024
Incomin
Out
oin
31/12/2024
Unrestricted funds
Eliminationltransfer
Restricted funds
427.674
323.758
(381,107)
370,325
427.674
323.758
(381.107)
J70,J25
2024
2023
Represented by:
Fixed Assets
Current Assets
Liabilities
212.075
246,669
(88.419)
370,325
230,891
287.978
(91,195)
427.674
15 Related party transactions
Other than donations and fiu]ds received there were no transactions with related parties during the
period.
17

NCCN Accounts and Reports - YE 31-12-2024 -
jn (version 3)
Final Audit Report
2025-10-28
Created..
2025-1(h28
By..
John Boye O"a5hburtonb@gwnail.com)
Status..
Signed
Transaction ID..
CBJCHBCAABAATeZkKiyS3xtyF11￿1Gl6adHTdyz1utrxj
"NCCN Accounts and Reports- YE 31-12-2024 - jn (version 3)"
History
Document created by John Boye (iashburtonb@gmail.corn)
2025-10-28- 6'.19.'46 PM GMT
* Document emailed to Seyi {oluwaseyi@newcovenant.org.uk) for signature
202>10-28- 6.'19.'52 PM GMT
Email viewed by Seyi (oluwaseyi@newcovenant.org.uk)
202>10-28- 6.'24.'19 PM GMT
Document signing delegated to Rev James Bamigboye (i'bamigboye@gmail.com} by Seyi
{oluwaseyi@newcovenant.org.uk)
2025-10-28- 6'.26.'46 PM GMT
* Documenl emailed to Rev James Bamigboye tibamigboye@gmail.com) for signature
2025-10-28- 6'.26.'46 PM GMT
Email viewed by Rev James Bamigboye (J'bamigboye@gmail.com)
202>10-28- 6.'49.'33 PM GMT
Signer Seyi {oluwaseyi@newcovenant.org.uk) entered name at signing as James Bamigboye
202>10-28- 7.'36.'25 PM GMT
o Document e-signed by James Bamigboye (oluwaseyi@newcovenant.org.uk)
Signature Date: 202&10-28- 7.'36:27 PM GMT- Time Sourc£'. server
Agreement completed.
2025-10-28- 7..36..27 PM GMT
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