REGISTERED CHARrrY NUMBER: 1023328 Report ofthe TnBtees and Unaudited Financial Stataments for tho Year Ended 31 March 2024 NEW LMNG MINISTRIES Knox Cropper LLP Chartered Accountants 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ
NEW LMNG MINISTRIES Contents of the Flnanci•l Ststements forthe Year Ended 31 March 2024 Pa Report of the Trustees 1 to 2 Independent Examinets Report statement of Financial Activities Balance Sheet Notes to the Financial Statements 6 to 11
NEW LIVING MINISTRIES Report of the Trustses for the Year Ended 31 March 2024 The trustees present their report with the financial ststements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended practi applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Obj8cllves and alms The promotion of the heart of God (Jesus Christ) in action, grace and being there for people. Vve do this through meeting together, encouraging gifts, projects and businesses. Significant activiti88 Activities included- Phoenix Academy- Education for all children ages 5- 18 years of age. Kenya & Sri Lanka - Charities to benefit living standards in these areas. Pubjlc benefit Communty projects and education. Voluntsers One parerrt in the school. ACHIEVEMENT AND PERFORMANCE Charitable activltles Ralnbow The Trust uses the name Rainbow. Rainbow meet monthly for prayer or peace meals. We also promote other events within the local and wider communty- These include such things as art events, holidays (i.e. camping), mission trips abroad and Community events. This is coming to an end in this financial year as Gareth Hawkes has handed in his notice with admin and we wonl be recruiting a new member. Phoenlx Academy Phoenix Academy is registered as an Independent School and govemed by OFSTED. It continues to operate from 85 Bounces Road, N9. It has around 20 students enrolled beeen the ages of 5 - 18 years old and all are working towards achieving an ICCE qualification at school leaving age. The school operates with a Board of Govemors consisting of Gareth Hawkes {Chair). Pauline Hawkes, Adrian Hawkes, Samuel Kelly, Angela Kelty, Paul Kelly (Head Teacher), Gena Areola (Designated Safeguarding Officer) and Donna-marie Sargent & Aaron Chambers {Pants). The Academy charges low fees to parents sufficient to subsidise staff wages and leaming materials. Fundraising activitios We re1ve regular gifts from our church attendees and local community. Intsmal and external factors The New Living Ministries Trust has been sponsored by Phoenix Community Care Ltd (PCC). PCC is a local charity Nvorking with looked after children, care leavers, asylum seekers and refugees. FINANCIAL REVIEW Principal funding sources The trust is primarily funded by donations and the reIpt of subsidised school fees. FUTURE PLANS To continue supporting the school and the govemors vision. Page 1
NEW LIVING MINISTRIES Report of the Trustseg for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its goveming documen( a deed of trust and constitutes an unincorporated chaiity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1023328 Principal address 85 Bounces Road London N9 8LD Trustees Mrs A Kelly G l J Hawkes G Areola JA Hawkes Independent Examiner Knox Cropper LLP Chartered Accountants 153-155 London Road Hemel Hempstead Hertfordshire HP3 9SQ Approved by order of the board of trustees on ..... - and signed on its behalf by.. Trustee Page 2
Indepondent Examin8rfs Report to the Trustees of New Living Ministries Independent examlner's report to the trustses of New Llving Ministries I report to the charity trustees on my examination of the accounts of New Living Ministries (the Trust) for the year ended 31 March 2024. Responsibilities and basis of Teport As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 (Ihe AcY}. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carying OLrt my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5l<b) of the Act. Independent examiner's ststsmant I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Ac( or the accounts do not accord wth those records; or the accounts do not comply with the applicable requirements conceming the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no conM8 and have come across no other matters in connection with the examination to which attention should be drawn in this port in order to enable a proper understanding of the accounts to be reached. Stephen Anderson Knox Cropper LLP Chartered Accountants 153-155 London Road Hemel Hempstead Hertfordshire HP3 9SQ Date:............................................. Page 3
NEW UVING MINISTRIES Statsment of Financial Activitios fortho Yr Ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted nd Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 55,750 55,750 56,690 Charitsble activitie5 School 50,824 50.824 51,057 Investment income other income 265 Total 106.575 106,575 108.012 EXPENDITURE ON Charitable activities School 95,647 95,647 80,439 other 13,199 13,199 16,969 Total 108,846 108,846 97,408 NET INCOMEI(EXPENDITURE} {2.271) (2,271) 10,604 RECONCILIATION OF FUNDS Total funds brought forward (31.800) 183 131,617) (42,221) TOTAL FUNDS CARRIED FORWARD 134.071) 183 (33,888) (31,617) The notes form part ofthe8e financial statements Page 4
NEW LMNG MINISTRIES Balance Sheet 31 March 2024 2024 Total funds 2023 Total fijnds Unrestricted fund Restricted fund Notes CURRENT ASSETS Debtors Cash at bank 10.971 3.401 10.971 3,584 11.459 8,000 183 14.372 183 14,555 19,459 CREDITORS Amounts falling due within one year (48,443) {48,443) (51,076) NET CURRENT ASSETSI(LIABILITIES) (34,071) 183 (33,888) (31,617) TOTAL ASSETS LESS CURRENT LIABILITIES (34.071) 183 (33,888) (31,617) NET ASSEfsi(LIABILITIES) (34.071) 183 (33,8881 (31.617) FUNDS Unrestricted funds Restricted funds 10 {34,071) 183 (31,800) 183 TOTAL FUNDS (33,888) (31,617) The finanaal statements were approved by the Board of Trustees and authorised for issue on . and Vre signed on its behalf by: G Areola - Trustee The notes fom part of these financial ststements Pa98 5
NEW LIVING MINISTRIES Notss to the Flnanclal Ststements forthe Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial sLitements The financial statements of the charity, thich is a public benefit entity under FRS 102, have been prepared in accordan with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: statement of Recommended Practice applicable to charities preparing their accounts in accordance th the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)., Financial Reporting Standard 102 The FinanGial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Going concern The charity's financial statements have be prepared on the going concem basis on the grounds that the Current and future SOurS of funding or support be more than adequate for the Gharity's needs. In making their statement on going conrn, the trustees are retying on the commitment made by a related paty that they will not sk repayment of the amount due to them until there are sufficient funds to paY the amounts owed (see note 10). Income All income is recognised in the Statement of Finanaal Adivtties once the charity has entitlement to the funds, it is probable that the income VAII be received and the amount can be measured reliably. Expandlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classffied under headings that aggregate all cost related to the c*gory. Where $ts cannot be directly attribLrted to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the followrng annual rates in order to vnite off each asset over its estimated useful life. Fixtures and ffttings 1 OOA on cost Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in acwrdance with the charitable objectives at the disGretton of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions artse when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is induded in the notes to the financial statements. Pension costs and other post-retirement beneffts The charity operates a defined contribution pension scheme. Contributions payable to the charitys pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 6 continued...
NEW LIVING MINISTRIES Notes to tho Financial Ststsments - contSnued forthe Year Ended 31 March 2024 INVESTMENT INCOME 2024 2023 Deposit account interest TRUSTEES, REMUNERATION AND BENEFITS 2024 2023 Trustees, salaries 5,640 Tru5tees' expenses Dunng the year, trustees, expenses totalling £4,508 were paid to one trustee as reimbursement of costs incurred on behalf of the charity (2023: £5,005). STAFF COSTS The average monthly number of employees during the year was as follows.. 2024 2023 Average monthly number of employees No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES unstricted fund Restricted fiJnd Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 56,690 56,690 Charltable actlvldes School 51,057 51,057 Other income 265 265 Total 108,012 108,012 EXPENDITURE ON Charitable activities School 80,439 80,439 other 16,969 16,969 Total 97,408 97,408 NEf INCOME 10,604 10,604 RECONCILIATION OF FUNDS Total fiJnds brought fOard (42,404) 183 (42,221) Page 7 continued...
NEW UVING MINISTRIES N¢)tes to the Flnanclal Ststements - contlnued forthe Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund ftjnd Total funds TOTAL FUNDS CARRIED FORWARD 131,800) 183 (31,617) TANGIBLE FIXED ASSETS Fixtures fittings COST At 1 April 2023 and 31 March 2024 16,489 DEPRECIATION At 1 April 2023 and 31 March 2024 16,489 NET BOOK VALUE At 31 Mah 2024 At 31 March 2023 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors 10,381 690 10,993 466 10,971 11,459 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditor5 Taxation and social security Other creditors 1,754 902 134 50.040 46,689 48,443 51,076 Page 8 continued...
NEW LIVING MINISTRIES Notes to the Flnan¢lal Statements - contlnued forthe Year Ended 31 Mar¢h 2024 LOANS An analysis of the maturity of loans is given below. 2024 2023 Amounts falling due within one year on demand.. Other loans 41,559 45,959 10. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund (31,8001 (2,271) (34.071) Restricted funds Restricted 183 183 TOTAL FUNDS {31.6171 (2,271) (33.888) Net movement in funds, included in the above are as follows.. Incoming resourtss ResOurS expended Movement in funds Unrestricted funds General fund 106,575 (108,846) 12,2711 TOTAL FUNDS 106,575 (108,846) (2,271) Comparatives for movement In funds Net movernent in funds At 31.3.23 At 1.4.22 Unrestrictsd funds General fund (42,404) 10,604 (31,800) Restricted funds Restricted 183 183 TOTAL FUNDS {42,221) 10,604 (31.617) Page 9 continued...
NEW LIVING MINISTRIES Notss to the Financial Statements- continu•d forthe Year Ended 31 March 2024 10. MOVEMENT IN FUNDS- continued Compaptive net movement in funds, included in the above are as forlov. IncomitWJ ReSoUrS expended Movement in funds Unrestricted funds General fvnd 108.012 (97,408) 10,604 TOTAL FUNDS 108,012 (97.408) 10,604 A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestrictsd funds General fund (42,404) 8,333 (34,071) Restricted funds Restricted 183 183 TOTAL FUNDS (42,221 } 8,333 (33,888) A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows: InmIng resour8 Resources expended Movement in fvnds Unrestrlcted funds General fijnd 214,587 (206,254) 8,333 TOTAL FUNDS 214,587 (206,254) 8.333 Page 10 continued...
NEW LMNG MINISTRIES Notss to tho Financial Ststements - ¢ontlnued fortho Year End 31 March 2024 11. RELATED PARTY DISCLOSURES During the period, rent of £20,000 <2023".£19,200) was paid to Pauline Hawkes. At the balan sheet date, the charity owed £41,559 {2023.' £45,959) to Pauline and Adrian Hawkes, who are the parents of one of the trustees of the charity. During the period, rent of £20,000 was recetved from Phoenix Community Care Limited (2023: £19,200). At the balance sheet date, Phoenix Community Care Limited owed £60012023: £466) to the charity. The partie5 are related as a result of directorslmembersltrustees having positions wilhin each entity- Page 11