New Creations
A Company Limited By Guarantee
And A Registered Charity Unaudited Accounts For the year ended 31 July 2022
Charity Registration No. 1045719 Company Registration No. 03041408 (England and Wales)
New Creations General Information
DIRECTORS/TRUSTEES :-
REGISTERED CHARITY NO:-
COMPANY REGISTRATION NO :-
REGISTERED OFFICE :-
INDEPENDENT EXAMINERS:-
BANKERS:-
Rev’d C. Jones Rev’d R.J. Kitching Miss S.C. Phillips Mrs M.H. Izzard Miss S.K. Pottinger Miss A.M.M. Smith
1045719
03041408
c/o Moore Kingston Smith LLP Betchworth House 57 - 65 Station Road Redhill Surrey RH1 1DL
Moore Kingston Smith LLP Betchworth House 57 - 65 Station Road Redhill Surrey RH1 1DL
Barclays Bank Plc Thornton Heath Croydon Surrey CR7 7YP
New Creations Report of the Trustees For the year ended 31 July 2022
The Trustees who are the Directors of the charity, submit their report and accounts for the year ended 31st July 2022.
CONSTITUTION
The Charity is a private company limited by guarantee, registered number 03041408, and its affairs are governed by the provisions of its Memorandum and Articles of Association. The charity is registered with the Charity Commission under registration number 1045719.
The Charity's principal address is: Betchworth House, 57 - 65 Station Road, Redhill, Surrey RH1 1DL.
RECRUITMENT
There are six Trustees and it is not considered necessary to recruit another trustee at the present time. However, this is kept under regular review.
OBJECTS
The Charity's primary objective is the advancement of the Christian religion. This is achieved through the use of the Arts, and specifically textile art, by engaging, informing and enhancing worship across a wide cross section of the community. 'The Linhay' - the property in South Devon owned by the Charity - is being used as a dedicated studio for the research, design and production of all the textile work.
FUTURE PLANS AND REVIEW OF ACHIEVEMENTS
Threads through Creation, was completed in the early part of 2021, and started touring in August 2021: so far it’s been exhibited in Salisbury Cathedral, Lancaster Priory, Chester Cathedral, Southwell Minster, Worcester Cathedral and Exeter Cathedral. The tour continues through 2022 - 2024. Thousands have now visited the exhibition and left some very positive and moving comments. Many schools have brought classes of children, as part of Key Stage 3 Religious Education, and found the exhibition a really great visual representation of the opening story of Genesis.
In July ‘Songs of Praise’ visited the exhibition Threads through Creation at Exeter Cathedral and talked to visitors. They then went to Jacqui’s studio in Chudleigh and interviewed her at work. This filming formed part of a service that was broadcast on Sunday 7 August 2022.
Jacqui Parkinson continues her work on her third large textile exhibition Threads through the Cross - due for completion at the end of 2024 and ready for touring in spring 2025. It is undecided whether this exhibition will tour independently or as part of the three exhibitions called Threads through the Bible. This would include: Threads through Creation and Threads through the Cross and Threads through Revelation. This would require very large venues, demand a lot of administrative work, and would also be costly. Decisions will need to be made soon. Big dreams!
‘The Linhay’ in Chudleigh, South Devon, continues to serve its purpose as studio and writing base for Jacqui Parkinson. It also houses the textile work when it is not on tour.
The Charity remains grateful for the support from its generous donors and aims to keep them informed of developments and changes in the work.
RESERVES POLICY
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which exceeds approximately twelve months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. The free reserves at the balance sheet date amount to £291,384 (2021: £291,562). The trustees believe the reserves are at an adequate level.
FINANCIAL REVIEW
Income received was £86,497 (2021: £70,026) which was a increase from the year before.
The Trustees wish to express their thanks towards all of New Creations' donors. Overall a surplus of £9,931 (2021: deficit of £6,837) was generated in the year. Reliance on income from donations does leave New Creations more exposed to the economic climate and the financial outlook for 2023 is uncertain, meaning that New Creations needs to secure more consistent funding, especially from individuals and churches.
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New Creations Report of the Trustees For the year ended 31 July 2022 (continued)
RISK MANAGEMENT
Control Systems
The Trustees have overall responsibility for ensuring that there are appropriate control systems for:-
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! Efficient and effective operation;
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! Protection against unauthorised use or disposition of assets;
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! Maintenance of proper records with the provision of reliable financial information; and
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! Compliance with relevant legislation and regulation.
In practice these are delegated to the Company Finance Officer, who has day to day management of the accounts, but who is regularly accountable to at least two Trustees, both of whom are signatories to all of the New Creations Bank accounts. Both of these Trustees now have full online access to all of the New Creations bank accounts, as does the Finance Officer. The Finance Officer is responsible for informing every Trustee of the balances at bank at the end of the month. The Company Finance Officer also serves a separate Charity, Share Jesus International (Charity Number 1089784), as their Finance Officer. He serves New Creations under an arrangement between the two Charities.
Risk Factors
The Trustees consider that risk falls into two overall areas – finance and infrastructure (income, expenditure, the contents of the charity's studio) and operational issues (the care of the work when on tour and possible risks to third parties whilst the public views the charity's work).
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The Trustees have mitigated the finance and infrastructure risks by:
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! Ensuring there is no over-reliance on any one funding source or fixed term income;
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! Ensuring systems exist to combat the threat of computer viruses and loss of information; and
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! Ensuring appropriate insurances are in place for equipment, completed work and work in progress.
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The Trustees have mitigated operational risks by:
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! Maintaining appropriate insurance.
PUBLIC BENEFIT
In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
TRUSTEES
The Trustees, who are also the Directors under company law, who served during the year were:-
Rev’d C. Jones Mrs M.H Izzard Rev’d R.J. Kitching Miss S.K. Pottinger Miss S.C. Phillips Miss A.M.M Smith
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New Creatlons Report of the Trustees For the year ended 31 July 2022 (continued) TATEMENT TEES, RESPONSIBILITIES Th8 Trust8es Iwho are also Directors of New Creation5 for the purposgs of company lawl are responsible for prepallfig the Trustees, Report and the financial 5taternenls in accordance ¥trith applicable law and United Kln9dom Account4ng Standards Iunited Klngdom Generally Accepted Accounting Practie8.1 Company law reqUid Trustees to prepare finanal 5ta18rn8nts for each finanrial y9ar which gNg a tru6 and fair viow of the 8tste of the affairs of the charitable cornpany and ifs incorne and expendituro for that perfod. Irs preparfng Ih•s8 rjnancial stai8m9nls. the Trustees are requirad to.. sdecl suitabl8 avffjunng pollcles and thon apply thèm consist8ntty; observe the methods and principles in the Charitie5 SORP., make judgements and estimates that are r8asonable and prudent". 518te wh8th8r applible UK Accounting Standariys. indud1 FRS102, hav8 been follow8d. $uble¢t to any material departures disc108ed and explained in the finanoal statements., st8te whether a Stal8m&nt of Rocommend8d Practice ISORPI apli8s and has been folbwed, subject lo any material departures which a explained in the financial 51alem8nts.' and ppa the financial statern8nts on th8 going ¢ort¢ern basis unless it is iaappropri8t8 to pSUme that the chari18ble company will Continue In business. The Truste88 are responsible for keeping proper 8ccounting records thal ¢is¢lo$e with 8$Onable oecuracy al any 11rn8 the financSal posrtion tsf the charitable cornpany and enable them lo ensu that the financial slal8rn8nts comply with the Companie5 Act 2006. They are also responsible for safeguarding the assets of the eharitsble wmpany and hence for taking reasonable step5 for the pents0n and detecu.on of fraud and 0th8r irr8gul8rits"e8. In 50 far as the Tnjstees are aware.. there 1$ no relevant information of which th8 charitable company's Examlner Is unaware.. and the Trustges have tsken all steps that Ihoy ought lo hav8 taken lo make themselves aware of any rebvanl InformaUon and to e5t8blish that th8 Examiner is aware ol Ihat Infomiation. AUDIT As noted on the Trustees. stat8ment on the balance sheet. Ihe Trustees have tsken advantage of the ex8mpts.on frorn audit applicable to th8 charitable compÈny and these attounts have not been audited. SMALL C MPANY EXEMPTION Thi5 report ha5 been prepared In a¢¢ordan¢e with the speci81 provissons relating to small ¢ompanios with Part 15 ol the Companies Act 2006. On b8half of the Board 15 December 2022 Mr8. M.H. Izzard tselDire¢tor
New Creations
Independent Examiner's Report to the Trustees of New Creations For the year ended 31 July 2022
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2022.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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1) accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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2) the accounts do not accord with those records; or
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3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
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.
Ian Matthews FCA Moore Kingston Smith LLP
Chartered Accountants
Betchworth House
57 - 65 Station Road Redhill Surrey RH1 1DL
Date: 15 December 2022
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New Creations Statement of Financial Activities For the year ended 31 July 2022
| INCOME FROM: Donations and legacies Investments TOTAL EXPENDITURE ON: Charitable activities TOTAL NET INCOME / (EXPENDITURE) TRANSFER BETWEEN FUNDS NET MOVEMENTS IN FUNDS RECONCILIATION OF FUNDS: TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD |
Notes 10 11 9 |
Unrestricted Funds £ 58,341 10 58,351 37,429 37,429 20,922 (21,100) (178) 291,562 291,384 |
Restricted Funds £ 28,146 - 28,146 39,137 39,137 (10,991) 21,100 10,109 6,883 16,992 |
Total Funds 2022 £ 86,487 10 86,497 76,566 76,566 9,931 - 9,931 298,445 308,376 |
Total Funds 2021 £ 70,010 16 |
|||
|---|---|---|---|---|---|---|---|---|
| 70,026 | ||||||||
| 76,863 | ||||||||
| 76,863 | ||||||||
| (6,837) - |
||||||||
| (6,837) 305,282 |
||||||||
| 298,445 |
Summary Income and Expenditure Account For the year ended 31 July 2022
| Gross Income from continuing activities Total expenditure on continuing operations Net (expenditure) / income for the year |
2022 £ 86,497 (76,566) 9,931 |
2021 £ 70,026 (76,863) |
|---|---|---|
| (6,837) |
The summary income and expenditure account is derived from the Statement of Financial Activities above, which together with the notes to the accounts on the following pages provides full information on the movements during the year.
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New Creations Balance Sheet As at 31 July 2022 022 20 FIXED ASSETS Tangible assets CURRENT ASSETS Stoeks Bank and cash D8btor5 and prepayments 193.269 193,711 4.278 109.788 4,684 4,884 99,763 3,610 118,750 108,257 CREDrroRS Amounts du8 Within one y88r 3,643 3.5231 REN SETS 115.107 104,734 TOT ET AS 308,376 298,445 e FUND OFTHEC ARITY Unresiricied funds Designated fund8 Restricted funds 291,153 231 16.992 291,311 251 6.883 308,378 298,445 For the financial year ended 31 July 2022 Ihe company was enliued to exemptson from audit under section 477 Cornpanies Act 2006. No mernber of the company has dep)$ited a noli¢e, pursuant to section 476. requiring an audit of th8se flnancial st8tements under the raquirements of the Companias Act 2006. The directors aGknovA8dge their r88ponslb11Iti8s for comptying th th8 requirement5 of the Act wtth rospecl lo accounting record5 and th8 pr8paration of financial $tat8rnents. The financial 5tatemgn15 have been prepad in accordance wilh the prOV10n6 applicable io companie5 subject to the small companies regime %*ithin Part 15 of the Cornpanies Act 2006. Approved by the 8oard for Issue on 15 December 2022 Mr5. M.H. Izzard TrusteelDirecior
New Creations Notes to the accounts for the year ended 31 July 2022
1. ACCOUNTING POLICIES
Charitable Company Information
New Creations is a company limited by guarantee incorporated in England and Wales. The registered office address is Betchworth House, 57-65 Station Road, Redhill, Surrey, RH1 1DL.
Accounting Convention
The Financial Statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The company is a public entity for the purposes of FRS 102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), the Companies Act 2006 and Charities Act 2011.
The financial statements are prepared in sterling, which is the functional currency of the charitable company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Going Concern
The trustees have assessed whether the use of going concern is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. In particular, the trustees have considered the charitable company's forecasts and projections and have taken account of pressures on income. After making enquiries, the trustees have concluded that there is a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future.
The trustees have assessed the impact of the worldwide COVID-19 pandemic on the charity and consider any impact or delays to be short term only. As a result the trustees believe that the charity will be able to continue and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements.
On this basis, the trustees consider it appropriate for the accounts to be prepared on the going concern basis.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated net residual value of each asset over its effective useful life as follows:
Fixtures and equipment - 25% per annum on reducing balance
Income
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers has not been included.
Legacy donations are recognised when the amount can be reliably measured and receipt is reasonably certain.
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New Creations Notes to the accounts for the year ended 31 July 2022 (continued)
Expenditure
Expenditure is recognised on an accruals basis.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis as time or estimated usage.
Costs relating to the governance of the charitable company, comprising legal and professional fees and accountancy fees, are included within charitable activities.
Fund Accounting
Restricted funds are to be used for specific purposes laid down by the donor. Expenditure for these purposes is charged to the fund, together with a fair allocation of overheads and support costs.
Unrestricted funds are donations and other incoming resources received or generated for expenditure on the general objectives of the charity.
Designated funds are those unrestricted funds which have been set aside for a particular future project or commitment.
Capitalisation
All fixed assets are capitalised at cost and recognised on an accruals basis.
Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which they have been incurred.
Stock
Stocks are stated at the lower of cost and net realisable value. It represents the printing costs of the book 'Threads through Revelation'.
Cashflow Statement
The charitable company has taken the exemption available in paragraph 7.1B of FRS102 and has not prepared a cashflow statement.
Financial Instruments
Cash and cash equivalents
Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less.
Debtors and creditors
Debtors and creditors receivable or payable within one year of the reporting date are carried at their transaction price. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest.
2. CONSTITUTION
The company is limited by guarantee and does not have a share capital. Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member, for the payment of debts and liabilities contracted before he or she ceased to be a member, such amount as may be required, not exceeding £10.
3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT
In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry any significant risk of material adjustment on the next financial year.
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New Creations Notes to the accounts for the year ended 31 July 2022 (continued)
4. TANGIBLE FIXED ASSETS
Assets used in direct furtherance of the charity's objects
| Cost As at 1st August 2021 Additions Carried forward at 31st July 2022 Depreciation Brought forward at 1st August 2021 Charge for the year Carried forward at 31st July 2022 Net Book Value As at 31st July 2022 As at 31st July 2021 |
Land & Buildings £ 191,942 - 191,942 - - - 191,942 191,942 |
Fixtures & Equipment £ 20,520 - 20,520 18,751 442 19,193 1,327 1,769 |
Total 2022 £ 212,462 - 212,462 18,751 442 19,193 193,269 193,711 |
Total 2021 £ 210,498 1,964 |
|---|---|---|---|---|
| 212,462 | ||||
| 18,434 317 |
||||
| 18,751 | ||||
| 193,711 | ||||
| 192,064 |
The property owned by the charity is being used as a dedicated studio for the research, design and production of all the textile work. The historical cost of the property at 31 July 2022 amounted to £191,942 (31 July 2021: £191,942).
| 5. 6. 7. |
DEBTORS AND PREPAYMENTS Income tax recoverable Prepayments CREDITORS DUE WITHIN ONE YEAR Other creditors ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible assets Current assets Current liabilities Net assets |
General Funds 2022 £ 193,269 101,758 (3,643) 291,384 |
2022 £ 3,485 1,199 4,684 2022 £ 3,643 3,643 Restricted Funds 2022 £ - 16,992 - 16,992 |
2021 £ 2,306 1,304 |
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|---|---|---|---|---|---|---|---|
| 3,610 | |||||||
| 2021 £ 3,523 |
|||||||
| 3,523 | |||||||
| Total Funds 2022 £ 193,269 118,750 (3,643) |
|||||||
| 308,376 |
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New Creations
Notes to the accounts for the year ended 31 July 2022 (continued)
| 7. 8. |
ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED) Tangible assets Current assets Current liabilities Net assets MOVEMENT IN FUNDS At 1st August 2021 £ Restricted Funds Restricted Funds - 'Revelations' 4,070 Restricted Funds - 'Threads Through Creation' 687 Restricted Funds - 'Deo Gloria Panels' 2,126 Total Restricted Funds 6,883 Unrestricted Funds General Funds 291,311 Designated Funds - 'Tree of Life' & 'Open Heaven' 251 Total Unrestricted Funds 291,562 Total Funds 298,445 At 1st August 2020 £ Restricted Funds Total Restricted Funds 25,819 Unrestricted Funds General Funds 277,589 Designated Funds - 'Tree of Life' 1,874 Designated Funds -'Open Heaven' - Total Unrestricted Funds 279,463 Total Funds 305,282 |
Incoming Resources £ - 27,916 230 28,146 58,351 - 58,351 86,497 Incoming Resources £ 13,197 56,829 - - 56,829 70,026 |
General Funds 2021 £ 193,711 101,374 (3,523) |
Restricted Funds 2021 £ - 6,883 - 6,883 Transfer between |
Restricted Funds 2021 £ - 6,883 - 6,883 Transfer between |
Restricted Funds 2021 £ - 6,883 - 6,883 Transfer between |
- | Total Funds 2021 £ 193,711 108,257 3,523 |
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|---|---|---|---|---|---|---|---|---|---|---|
Tangible assets Current assets Current liabilities Net assets MOVEMENT IN FUNDS Restricted Funds Restricted Funds - 'Revelations' Restricted Funds - 'Threads Through Creation' Restricted Funds - 'Deo Gloria Panels' Total Restricted Funds Unrestricted Funds General Funds Designated Funds - 'Tree of Life' & 'Open Heaven' Total Unrestricted Funds Total Funds Restricted Funds Total Restricted Funds Unrestricted Funds General Funds Designated Funds - 'Tree of Life' Designated Funds -'Open Heaven' Total Unrestricted Funds Total Funds |
||||||||||
| 291,562 | 298,445 | |||||||||
| Outgoing Resources £ - (38,921) (216) |
At 31st July 2022 £ 4,070 10,782 2,140 |
|||||||||
| Reserves £ - 21,100 - 21,100 (21,100) - (21,100) - Transfer between |
||||||||||
| (39,137) | 16,992 | |||||||||
| (37,409) (20) |
291,153 231 |
|||||||||
| (37,429) | 291,384 | |||||||||
| (76,566) | 308,376 | |||||||||
| Outgoing Resources £ (32,133) |
At 31st July 2021 £ 6,883 |
|||||||||
| Reserves £ - - - - - - |
||||||||||
| (43,107) (1,623) - |
291,311 251 - |
|||||||||
| (44,730) | 291,562 | |||||||||
| (76,863) | 298,445 |
Threads Through Revelation, Threads Through Creation, Tree Of Life/Open Heaven
These three major projects reflect Bible truths through the use of huge fabric panels all designed and created by Christian Textile Artist Jacqui Parkinson. Open Heaven consists of 3 large panels and a raised cast of Jesus on a rope ladder. All 3 exhibitions are designed to be displayed in large buildings such as Cathedrals. The funds remain to cover the costs of replacing or buying new display equipment: such as lights, cabling, sand bags, etc and costs when the exhibition is touring.
Also, one day, it’s envisioned that all 3 exhibitions Threads through Creation and Threads through the Cross and Threads through Revelation will tour together - this will require large funds.
Tree Of Life will continue to be exhibited in the future.
Deo Gloria banners
The funds continue to cover the costs of making all the panels into banners. Also managing the administrative work involved in requests for various exhibitions. There are also costs involved in packing and posting out exhibitions.
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New Creations
Notes to the accounts for the year ended 31 July 2022 (continued)
| 9. | NET INCOME/(EXPENDITURE) This is stated after charging: Depreciation of tangible assets Independent examination remuneration |
2022 £ 442 3,613 |
2021 £ 317 3,764 |
||
|---|---|---|---|---|---|
| 10. INVESTMENT INCOME Bank interest receivable |
2022 £ 10 10 |
2021 £ 16 |
||
|---|---|---|---|---|
| 16 |
11 EXPENDITURE ON CHARITABLE ACTIVITIES
| Production costs Consultancy fees Property expenses Secretarial and adminstration Travel and subsistence Depreciation Sundry expenses Legal and professional fees (insurance) Accountancy |
Unrestricted Funds £ 1,626 25,200 2,574 1,915 333 442 152 1,574 3,613 |
Unrestricted Funds £ 1,626 25,200 2,574 1,915 333 442 152 1,574 3,613 |
Restricted Funds £ 15,782 - 12 18,553 4,790 - - - - |
Restricted Funds £ 15,782 - 12 18,553 4,790 - - - - |
Total Funds 2022 £ 17,408 25,200 2,586 20,468 5,123 442 152 1,574 3,613 |
2021 £ 30,965 25,200 2,456 11,409 1,219 317 271 1,533 3,493 |
|
|---|---|---|---|---|---|---|---|
| 37,429 | 39,137 | 76,566 | 76,863 |
12. TRUSTEES
None of the Trustees were remunerated directly or indirectly. During the year expenses for telephone expenses and meetings attendance totalling £nil (2021: £Nil) were paid to trustees. There are no employees who received employee benefits of more than £60,000 during the year.
13. TAXATION
As the company's aims are charitable, no corporation tax liability arises.
14. CONTROL
Throughout the year the company has been under the control of its Trustees.
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New Creations Notes to the accounts for the year ended 31 July 2022 (continued)
15. RELATED PARTY TRANSACTIONS
During the year, donations totaling £120 (2021: £120) were received from Marian Izzard (Trustee) to support Threads Through Creation.
During the year, donations totaling £170 (2021: £170) were received from Robert Kitchen (Trustee) to support Threads Through Creation and the General Fund.
During the year, donations totaling £1,080 (2021: £1,080) were received from Sarah Phillips (Trustee) to support the Linhay costs.
During the year, donations totaling £60 (2021: £60) were received from Angela Smith (Trustee) to support the General Fund.
During the year, donations totaling £100 (2021: £Nil) were received from Susie Pottinger (Trustee) to support the General Fund.
16. KEY MANAGEMENT PERSONNEL
There were no key management personnel outside of the Trustees and the Company Finance Officer in the year. The charity has no employees. The Company Finance Officer also serves a separate Charity, Share Jesus International (Charity Number 1089784), as their Finance Officer. He serves New Creations under an arrangement between the two Charities.
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