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← Market Rasen New Life Christian Fellowship Trust

2024-12-31-accounts

REGISTERED CHARITY NUMBER: 1038968

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

Smethurst & Co

12 Abbey Road GRIMSBY DN32 0HL

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 17

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Trust seeks to demonstrate the Christian faith in action by advancing the Christian religion, relieving persons in condition of need, hardship or distress or who are aged or sick.

The Trust seeks to advance the Christian Faith and relieve need in the community and further afield.

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit and complied with section 17(5) pf the 2011 Charities Act when reviewing our aims and objectives and in planning future activities. In particular, the Trustees consider how planned activities till contribute to the aims and objectives they have set.

Page 1

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

We are thankful that as a local church there has been more than adequate provision to help us fulfil our charitable objectives. During 2024, Market Rasen New Life has had many opportunities to continue to share the truth of the gospel and to relieve need in our locality and beyond.

Our main preaching series during 2024 at Sunday gatherings focused on the 'big picture' themes of The Creation, The Fall, Redemption and Restoration and how the Genesis narrative points to Jesus and His amazing rescue plan for humankind. Senior Leader, Mike May has involved 6 people from church family on the preaching team. Keeping the main thing, the main thing has been key; 'keeping our eyes fixed on Jesus' and aiming to carry out His Great Commission (Matt 28) to 'Go…and make disciples….baptising them.." . Four new believers were baptised during 2024 with more expected in 2025. We have also enjoyed some inspirational and vibrant monthly All-Age Services led by 8 different people with a variety of themes such as 'Biblical Seed Sowing' to 'Enough Light for The Next Step '.

We have been blessed and refreshed too via our links with Ground Level Network with 4 visiting speakers joining us on Sundays during the year. Seven people from church family went along to Swanwick Leaders Conference in May. We were also able in 2024 to engage closely with several local Ground Level churches at the Arise 'Surfing the Wave' Gathering at Skegness in July. Over 35 people from Market Rasen attended 'Arise' and Mike May as well as musicians Jen May, Matt Jewitt and Shaun McCready served on team at this weekend celebration. It was a joy too to gather for Awaken, the annual Ground Level celebration, on the Lincolnshire Showground in August. The Men's and Women's Conferences & the Encounter Worship Conference too held at Alive Lincoln during 2024 have also benefitted the spiritual health of Market Rasen New Life church family. Six of church family have attended the Basileia Bible School led by Richard Bradbury from Beverley this year for which we have been privileged to be the venue. In June 2025, we look forward to hosting and being a prayer hub for the Arise Celebration and also for the Humber to Wash Greater Lincolnshire Ground Level region.

Prayer underpins all we do together and in 2024 our weekly church prayer meetings moved fully from Mondays on Zoom to in-person on Sunday evenings. Led by a variety of church members, these meetings now have increased attendance and are the mainstay of church life. We are grateful to our main day to day prayer coordinator Sheila Griffiths for her ongoing faithful work assisted by her fellow coordinators (Christine Jewitt and Jane Bridger). For Sunday gatherings in 2025, a larger Prayer Ministry team is being developed and released overseen by Katy Hiley as numbers and attendance continues to grow.

Outreach continues to be a key part of our vision. The Church Centre is open 7 days a week including on Wednesdays and Fridays for free Coffee & Chat sessions as a welcoming Warm Space. 20+ people are often drawn into these volunteer run times. Additionally, we have hosted an extra Warm space on Tuesdays mornings run by a local group who also support our Food Bank. A regular monthly Men's Breakfast coordinated by Louis Mullaney is another great point of contact and in November the men enjoyed an evening of Bell Target Shooting together. Two major new outreach initiatives, which were launched in the Autumn of 2023, have now been running for over a year; a Night Light Café funded by the NHS to reach those finding life difficult. The Eden Room at the Church Centre provides a Monday evening safe space for non-clinical support. To date over 40 different adults have benefitted from this facility which is run by Sue Jewitt in a part time paid role. She is helped by 7 trained volunteers. Secondly, we launched a Friday Night Youth Club for 13-17s in November 2023. To date over 50 different young people have made use of this facility in a town where there is no other youth club for hard to reach youth with 15-20 attending most weeks. Brian Burns , a volunteer with experience in Drugs counselling, has spearheaded its development and is supported by 9 volunteers. We are grateful for funding provision particularly from the Lincolnshire Cooperative Community Fund and Skipton Building Society for financial help to sustain these Youth Nights into the future.

Larger outreach events held during 2024 included an impactful evening in June led by Teen Challenge with powerful stories shared by those who had been freed from a life of addiction to alcohol or drugs. In October, we opened our doors to families for a Bright Lights Party headed up by Diane Goulden and in November Andrea Fletcher organised a well-attended Tearfund Quiz fund raising night We have also been able to develop very positive relationships with some of the community users and hirers of the Church Centre including Rasen Ukulele Band with whom we arranged a joint musical evening along with our New Life Musicians in April. Along with regular church activities, the community use and hire of the Church Centre means that 600-700 people come through the building each week. It's a wonderful facility!

Page 2

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Our full time Church Centre Manager and Food Bank Coordinator, Martin Forsythe, has brought many practical skills to the job as well as a heart to serve people, to develop volunteer teams and to steward the Centre well. During 2024, 3 major projects funded largely through government grants got underway with Martin taking the major lead on these ably assisted by key volunteer Louis Mullaney and church work parties when needed. A much larger Food Bank and improved storage was made possible through a national government COCOL grant. (Community Organisations Cost of Living Fund). West Lindsey District Council granted us £20k through their Community Facilities Fund towards a £35k project to completely refurbish our 1980's toilets. We were also awarded a national VCSE (Voluntary, Community & Social Enterprise) Energy Efficiency Scheme grant of £107,000 to install solar panels, heat pumps, improved roof & cavity wall insulation and renewed upstairs windows with work due for completion in March 2025. We are grateful indeed for this provision and to be able to share a much improved Church Centre with the wider community. It was also possible in 2024 to replace the gates and fencing on our frontage as well as to improve the wifi coverage and security of the building. A new kitchenette area in the Community room has also been developed to enhance its wider usage and Tina McCready & Jane Bridger helped organise and add to the equipment in the main kitchen.

The current Core Leadership Team of Mike May, Jen May, Martin Forsythe and Rhona Sheppard was joined by a Wider Team of Pat Clark, Sue Clark, Estelle Forsythe, Matt Jewitt, Sue Jewitt and Louis Mullaney from September 2024. The six Trustees continue in their role: Geoff Taylor (Chair), Estelle Forsythe, Sheila Griffiths, Mike May, Norman Palmer and Rhona Sheppard. Estelle Forsythe and Rhona Sheppard also assist with Safeguarding matters alongside our Safeguarding Lead, Jen May

There is a multitude of volunteers we are grateful for serving in so many ways including our growing team of musicians headed up by Matt Jewitt since September. We are very thankful to Jen May (who remains on team) for leading the musicians for the previous 7 years. The musicians enjoyed a refreshing song writing day together at The Storehouse, Skegness in May and visiting speaker Michelle Fergusson joined us for a special weekend in February on Creative Worship. Richard Findlay has spent valuable time behind the scenes overseeing PA & technical matters as well as training new volunteers in PA & Visuals.

Diane Goulden heads up a volunteer team of 4 to run our Sunday children's work Centre Point for 5-11s (amazingly 30 different children attended at some point during 2024). In total over 50 church members are involved in some sort of voluntary work which makes church happen!

The Food Bank has continued to meet needs in our locality; during 2024 the 15 volunteers packed 170 parcels per month. (up from the 137 average of 2023). Currently there are 32 families with 48 children receiving parcels as well as 22 couples and 38 single people. 91 Special Christmas Gift bags were lovingly prepared and distributed in December. Over the winter months, we acted as a Warm Hub with 60 warm packs given out including blankets, hats, socks, and hot water bottles. Open for 3 mornings a week, the Food Bank is quite a major operation. Financial support has been forthcoming from several sources including West Lindsey District Council, independent charities, local organisations and several individuals. We are grateful for a good relationship with our local Tesco store too. Frequent donations in kind often appear at the Centre from people in the locality. In November, we hosted a major Food Summit Conference run by the Lincolnshire Food Partnership with many networking benefits for all who attended from across the region. A recent NHS Winter Pressures grant, has facilitated us running some Healthy Cooking on a Budget sessions at the start of 2025.

We continue to relate to other churches in the town, coming together in united outdoor services on Good Friday and Remembrance Sunday as well as serving the community in other ways. In June, we initiated holding a very well attended Election Forum for the prospective parliamentary candidates on our premises. In December the churches worked together to bring the true meaning of Christmas to the community in an outdoor Nativity Mime production in the town's Market Place.

Relationships are key; we place a priority on people meeting together in smaller groups (Connect Groups) midweek and during 2024 five groups met regularly in the daytime or evenings. Paul Hiley currently coordinates these groups and their leaders. A further group is envisaged for 2025. Shared lunches together, a special taste of the Caribbean session and summer rambles are great times of more informal fellowship & outreach too. More organised times spent meeting and nurturing newcomers have been arranged at key times during the year. Encouraging and caring for one another involves us all. During 2024 we have been particularly mindful of those who have been ill or bereaved with associated pastoral visits undertaken.

During the year, overall numbers gathering on Sundays has been increasing from an average of 50-55 to 60-70+ by the end of the year. An evening Alpha course, which we ran from Sept-Nov was well attended by 17-20 participants and helpers each week , has led to further growth and there is already interest in us running another Alpha in 2025.

Page 3

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

We are pleased to report that we have been able to meet our charitable objectives to share the gospel in word and deed by relieving need as reflected in this report and our annual 2024 accounts. We have been able to meet all our running costs and to maintain our reserves at an agreed level as the work continues to expand. A special Gift Day held in September will enable us us pay off a further amount on our Church Centre mortgage in March 2025. We continue to give generously to other church ministries on a regular monthly basis: Ground Level, Betel, Open Doors, Tearfund, Care for the Family, the Christian Institute & YPMP (Your People My People) During 2024 we were also able to support the work of 3 additional ministries during the year: The Message Trust, Teen Challenge and the Bible Society. We also took part in the Operation Christmas Child Shoebox appeal as well as collecting used stamps for the local Lincs and Notts Air Ambulance. At the end of the year, we arranged our Christmas special offering to support the provision of 10 Toilets in poorer parts of the world through Tearfund's Toilet Twinning Project.

"From him and through him and for him are all things. To him be the glory forever! Amen." Romans 11:36

FINANCIAL REVIEW

Reserves policy

Our reserves policy aims to be both biblical and practical. We neither want to accumulate or hoard funds for no reason nor do we want to be irresponsible with the financial resources God has provided us with. Rather we want to prepare our annual budget and steward finances wisely in line with our 2 charitable aims a) to advance the Christian faith b) to relieve need. Furthermore, we want to trust God for his ongoing provision for the extension of his Kingdom.

We currently regard it prudent to have a reserve fund of £25,000

To cover 2-3 months running costs (£22,000) in the event of a loss of income ( eg from regular giving/room hire) or

For Church Centre building & refurbishment projects grants will be sought if needed.

During 2025-2026, if further staff are employed, this reserves policy will be reconsidered and increased ahead of our next annual review.

Our reserves have been kept in a new account opened in September 2024 with Kingdom Bank (Church and Charity Flexible reserves Account). Additionally adequate accessible funds will continue to be kept in an Instant Access Deposit Account (Cooperative Bank).

This policy will be reviewed annually by Leadership and Trustees. Next review October 2025. ( with proviso as stated above)

The total reserves held at the end of the year amount to £522,770 (2023: £334,795).

Free reserves after deducting capital commitments amount to £31,671 (2023: £5,324).

FUTURE PLANS

We are seeing 2025 as a year of further spiritual and numerical growth, of strengthening relationships at church family, local and regional levels and of more opportunities to share the truth of the gospel and to relieve need. Over the next 1-3 years, we hope to appoint anointed people in 3 main areas/roles: Family, Children's Youth Work; Financial Director and also to transition at the right time in the future someone into Senior Leadership.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is governed by a Trust Deed dated 13 May, 1994.

The policy and operating decision of the Charity rest with the Trustees who meet regularly to monitor the activities of the Trust. The spiritual authority for the government of the church itself rests with the elders.

Recruitment and appointment of new trustees

New Trustees are appointed by the Trustees, usually after consultation with the elders. They seek to recruit members to provide a balance of skills to the Trust.

Page 4

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1038968

Principal address

Market Rasen New Life Church Centre Serpentine Street Market Rasen LN8 3AR

Trustees

G Taylor E Forsythe S Griffiths M May R Sheppard N Palmer

Independent Examiner

C M Tams FCA Smethurst & Co 12 Abbey Road GRIMSBY DN32 0HL

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. 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.

Approved by order of the board of trustees on 20 October 2025 and signed on its behalf by:

R Sheppard - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

Independent examiner's report to the trustees of Market Rasen New Life Christian Fellowship Trust

I report to the charity trustees on my examination of the accounts of Market Rasen New Life Christian Fellowship Trust (the Trust) for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form 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 concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

C M Tams FCA

Smethurst & Co 12 Abbey Road GRIMSBY DN32 0HL

27 October 2025

Page 6

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

----- Start of picture text -----
31.12.24 31.12.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 88,449 25,997 114,446 99,501
Charitable activities
Core activities 20,213 185,598 205,811 36,767
Other trading activities 2 29,053 - 29,053 27,243
Investment income 3 2,954 - 2,954 924
Other income 1,906 - 1,906 1,618
Total 142,575 211,595 354,170 166,053
EXPENDITURE ON
Charitable activities
Core activities 103,639 58,230 161,869 110,815
Other 4,326 - 4,326 4,814
Total 107,965 58,230 166,195 115,629
NET INCOME 34,610 153,365 187,975 50,424
Transfers between funds 14 104,780 (104,780) - -
Net movement in funds 139,390 48,585 187,975 50,424
RECONCILIATION OF FUNDS
Total funds brought forward 284,012 50,783 334,795 284,371
TOTAL FUNDS CARRIED FORWARD 423,402 99,368 522,770 334,795
----- End of picture text -----

The notes form part of these financial statements

Page 7

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

BALANCE SHEET 31 DECEMBER 2024

----- Start of picture text -----
31.12.24 31.12.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 8 376,560 - 376,560 278,688
CURRENT ASSETS
Debtors 9 10,482 35,114 45,596 3,998
Cash at bank 98,219 64,254 162,473 130,878
108,701 99,368 208,069 134,876
CREDITORS
Amounts falling due within one year 10 (6,449) - (6,449) (7,764)
NET CURRENT ASSETS 102,252 99,368 201,620 127,112
TOTAL ASSETS LESS CURRENT LIABILITIES 478,812 99,368 578,180 405,800
CREDITORS
Amounts falling due after more than one year 11 (55,410) - (55,410) (71,005)
NET ASSETS 423,402 99,368 522,770 334,795
FUNDS 14
Unrestricted funds 423,402 284,012
Restricted funds 99,368 50,783
TOTAL FUNDS 522,770 334,795
----- End of picture text -----

The financial statements were approved by the Board of Trustees and authorised for issue on 20 October 2025 and were signed on its behalf by:

R Sheppard - Trustee

The notes form part of these financial statements

Page 8

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial 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.

The charity has departed from the Charities SORP and FRS 102 by depreciating land and property at a rate of 2% on a straight line basis. The treatment required by the Charities SORP and FRS 102 where an asset comprises of two or more major components is that each component should be depreciated separately over its useful life and that the value of land is not depreciated.

In previous years receipts and payments accounts have been prepared. Due to accruals accounts being required for only one year and in the absence of information in relation to splitting the value of land and property on acquisition, it is considered an unnecessary cost to account for the property using component accounting. All land and property is therefore being depreciated over 50 years.

The trustees consider that depreciating all land and property over 50 years reflects the value of the asset for the charity, and have concluded that the accounts present a true and fair view.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

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 classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Capitalisation policy - fixed assets costing in excess of £500 are capitalised

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise 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 included in the notes to the financial statements.

Page 9

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES - continued

Donated goods

Donated goods for distribution are recognised in the statement of financial activities when distributed at fair value as donations and charitable expenditure.

2. OTHER TRADING ACTIVITIES

2.
OTHER TRADING ACTIVITIES
Room hire 31.12.24
£
29,053		 31.12.23
£
27,243
3.
INVESTMENT INCOME
Deposit account interest		 31.12.24
£
2,954		 31.12.23
£
924
4.
GRANTS PAYABLE
Core activities		 31.12.24
£
9,271		 31.12.23
£
10,649
The total grants paid to institutions during the year was as follows:
Groundlevel
Betel
Open Doors
Tearfund
Christian Institute
Care for the Family
YPMP (Israel)
AID (International Development)
KnownValuedLoved
Other institutions		 31.12.24
£
3,000
600
880
736
360
360
240
-
-
801		 31.12.23
£
3,000
600
900
1,832
510
360
240
220
385
797
6,977 8,844
The total grants paid to individuals during the year was as follows:
Other individuals		 31.12.24
£
2,294		 31.12.23
£
1,805

Page 10

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

Trustees' expenses totalling £2,171 were paid for travel expenses in relation to leadership and pastoral roles. No other trustees' expenses were paid.

6. STAFF COSTS

Total remuneration paid to key management during the year amounted to £26,984 (2024: £12,133).

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
79,223
Charitable activities
Core activities
4,642
Other trading activities
27,243
Investment income
924
Other income
1,618
Total
113,650
EXPENDITURE ON
Charitable activities
Core activities
70,600
Other
4,814
Total
75,414
NET INCOME
38,236
RECONCILIATION OF FUNDS
Total funds brought forward
245,776
TOTAL FUNDS CARRIED FORWARD
284,012		 Restricted
funds
£
20,278
32,125
-
-
-
52,403
40,215
-
40,215
12,188
38,595
50,783		 Total
funds
£
99,501
36,767
27,243
924
1,618
166,053
110,815
4,814
115,629
50,424
284,371
334,795

Page 11

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

8. TANGIBLE FIXED ASSETS

COST
At 1 January 2024
Additions
Disposals
At 31 December 2024
DEPRECIATION
At 1 January 2024
Charge for year
Eliminated on disposal
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 12)
Taxation and social security
Other creditors		 Land and
property
£
340,906
119,515
-
460,421
68,009
24,390
-
92,399
368,022
272,897		 Fixtures
and
equipment
£
59,850
6,216
(908)
65,158
54,059
3,451
(890)
56,620
8,538
5,791
31.12.24
£
2,016
43,580
45,596
31.12.24
£
1,085
1,638
3,726
6,449		 Totals
£
400,756
125,731
(908)
525,579
122,068
27,841
(890)
149,019
376,560
278,688
31.12.23
£
2,287
1,711
3,998
31.12.23
£
1,277
-
6,487
7,764

Page 12

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans (see note 12) 31.12.24
31.12.23
£
£
55,410
71,005
12.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans		 31.12.24
31.12.23
£
£
1,085
1,277
Amounts falling between one and two years:
Bank loans - 1-2 years		 1,158
1,363
Amounts falling due between two and five years:
Bank loans - 2-5 years		 3,963
4,666
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
13.
SECURED DEBTS
The following secured debts are included within creditors:
Bank loans		 50,289
64,976
31.12.24
31.12.23
£
£
56,495
72,282

Kingdom Bank have a legal charge over New Life Church Centre, Serpentine Street, Market Rasen dated February 2018.

After the year end the Trustees made the decision to repay the Kingdom Bank loan. The loan was repaid in full in April 2025.

Page 13

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

14. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Food Bank
Youth Club
Community Organisation Cost of Living Fund
Community Facilities Fund
VCSE Energy Efficiency Award
NHS Winter Pressures
Other restricted funds
TOTAL FUNDS
Net movement in funds, included in the above are as
Unrestricted funds
General fund
Restricted funds
Food Bank
Youth Club
Community Organisation Cost of Living Fund
Community Facilities Fund
VCSE Energy Efficiency Award
NHS Winter Pressures
Other restricted funds
TOTAL FUNDS		 At 1.1.24
£
284,012
45,378
3,455
-
-
-
-
1,950
50,783
334,795
follows:		 Net
movement
in funds
£
34,610
1,080
(8)
12,369
20,000
107,476
8,750
3,698
153,365
187,975
Incoming
resources
£
142,575
44,027
5,545
20,000
20,000
107,476
10,000
4,547
211,595
354,170		 Transfers
between
At
funds
31.12.24
£
£
104,780
423,402
-
46,458
-
3,447
(12,369)
-
(16,000)
4,000
(71,461)
36,015
-
8,750
(4,950)
698
(104,780)
99,368
-
522,770
Resources
Movement
expended
in funds
£
£
(107,965)
34,610
(42,947)
1,080
(5,553)
(8)
(7,631)
12,369
-
20,000
-
107,476
(1,250)
8,750
(849)
3,698
(58,230)
153,365
(166,195)
187,975

Page 14

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.1.23
£
Unrestricted funds
General fund
245,776
Restricted funds
Food Bank
38,595
Youth Club
-
Other restricted funds
-
38,595
TOTAL FUNDS
284,371
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
113,650
Restricted funds
Food Bank
43,281
Youth Club
5,000
Other restricted funds
4,122
52,403
TOTAL FUNDS
166,053		 Net
movement
At
in funds
31.12.23
£
£
38,236
284,012
6,783
45,378
3,455
3,455
1,950
1,950
12,188
50,783
50,424
334,795
Resources
Movement
expended
in funds
£
£
(75,414)
38,236
(36,498)
6,783
(1,545)
3,455
(2,172)
1,950
(40,215)
12,188
(115,629)
50,424

Page 15

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

14. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Food Bank
Youth Club
Community Organisation Cost of Living Fund
Community Facilities Fund
VCSE Energy Efficiency Award
NHS Winter Pressures
Other restricted funds
TOTAL FUNDS		 At 1.1.23
£
245,776
38,595
-
-
-
-
-
-
38,595
284,371		 Net
movement
in funds
£
72,846
7,863
3,447
12,369
20,000
107,476
8,750
5,648
165,553
238,399		 Transfers
between
funds
£
104,780
-
-
(12,369)
(16,000)
(71,461)
-
(4,950)
(104,780)
-		 At
31.12.24
£
423,402
46,458
3,447
-
4,000
36,015
8,750
698
99,368
522,770

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Food Bank
Youth Club
Community Organisation Cost of Living Fund
Community Facilities Fund
VCSE Energy Efficiency Award
NHS Winter Pressures
Other restricted funds
TOTAL FUNDS		 Incoming
resources
£
256,225
87,308
10,545
20,000
20,000
107,476
10,000
8,669
263,998
520,223		 Resources
Movement
expended
in funds
£
£
(183,379)
72,846
(79,445)
7,863
(7,098)
3,447
(7,631)
12,369
-
20,000
-
107,476
(1,250)
8,750
(3,021)
5,648
(98,445)
165,553
(281,824)
238,399

Restricted funds included the following -

Food Bank - grants and donations to support the Food Bank to meet the needs of the locality Youth Club - grants for the operation of the Youth Club

Community Organisation Cost of Living Fund (COCOL) - grant for the extension of the Food Bank and for other community organisation management costs

Community Facilities Fund - funding toward the refurbishment of the toilets

VCSE Energy Efficiency Award - funding for energy efficiency project

NHS Winter Pressures - funding for cooking on a budget and associated operational costs

Page 16

MARKET RASEN NEW LIFE CHRISTIAN FELLOWSHIP TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

14. MOVEMENT IN FUNDS - continued

Transfers between funds

Transfers into the general fund of £104,780 are in relation to assets that have been purchased from restricted income where the restrictions have been met.

15. CAPITAL COMMITMENTS

----- Start of picture text -----
||| |---|---| |31.12.24|31.12.23| |£|£| |-| |Contracted but not provided for in the financial statements|50,195|

----- End of picture text -----

The above amounts are committed in relation to energy efficiency and toilet refurbishment work ongoing at the year end.

16. RELATED PARTY DISCLOSURES

During the year remuneration of £26,984 (2023: £12,133) was paid to M Forsythe the husband of the trustee E Forsythe for his employment role as Church Centre manager.

Donations made to the church by trustees during the year amounted to £25,014.

17. COMPARATIVE FIGURES

In previous years Receipts and Payments accounts were prepared. The comparatives for 2023 have been restated to present accruals accounts to the extent practicable.

Policies have also been developed to ensure FRS102 Charity SORP compliance and these have been applied to reserves brought forward in 2023 and to the comparative figures where applicable.

Page 17