2023-07-31-accounts - New Creations

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

A Company Limited By Guarantee And A Registered Charity

UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2023

Charity Registration No. 1045719 | Company Registration No. 03041408 (England and Wales)

New Creations is committed to providing powerful visual resources for cathedrals and churches by means of textile art, banners and silk panels appealing to people of all backgrounds. The aim is to engage all visitors with the story of God with beautiful images: delighting, raising questions, and opening debate. ‘The Linhay’ is a house in Chudleigh, South Devon, which is New Creations’ principal asset [£191,142]; a dedicated studio for the research, design, production and storage of the textile panels and related materials.

“Truly inspiring; amazing designs crafted with great skill - and all pointing to the wonder of our Creator God and his plan to redeem.”

“So powerful, the Holy Spirit is behind this wonderful work and words”

Threads through Creation

Threads through Creation , completed in 2021, consists of twelve huge panels re-telling the first pages of the creation story in Genesis. From 2021 - 2023 it has been exhibited in Salisbury Cathedral, Lancaster Priory, Chester Cathedral, Southwell Minster, Worcester Cathedral, Exeter Cathedral, St Edmundsbury Cathedral, Guildford Cathedral, Ripon Cathedral, Bath Abbey, Peterborough Cathedral, St Albans Cathedral, Ely Cathedral, Rochester Cathedral, Portsmouth Cathedral and Wells Cathedral. The tour continues through 2024 in 6-8 more venues.

Thousands have now visited the exhibition with hundreds leaving some very positive and moving comments. Around a hundred schools have brought classes of children, as part of KS2 and KS3 Religious Education, and found the exhibition a really great visual representation of the opening story of Genesis that they could understand. Many of the children have then worked on their own designs and creative writing to enhance the experience. We have now met a clear need and produced a Children’s Guide which helps continue work in the classroom. It is made available free to schools, together with prayer cards and a pack of ideas for teachers.

‘Jacqui’s work brings astonishing colour and pattern into the Minster’s gentle and peaceful atmosphere. The exhibition’s message that comes through loud and clear is of God’s wonderful love. You couldn’t find a more relevant and appropriate exhibition to display in a cathedral.’

THE VERY REVD NICOLA SULLIVAN, DEAN OF SOUTHWELL MINSTER

Adult groups have used the exhibition as a vehicle for workshops in art, writing and dance, meditation and prayer, discussion, talks and Bible studies.

The response from cathedrals has been very positive: some say it’s the most successful exhibition that they’ve had. During the exhibition all the cathedrals report a significant increase in footfall, increased donations, and greater sales in shops and refectories.

Threads through the Bible

Jacqui Parkinson has continued her work in the studio on the 18 large panels for Threads through the Cross . There are now twelve complete - and six to go. The panels, with the accompanying book, are due for completion at the end of 2024.

It will complete an extraordinary project: Threads through Creation - Threads through the Cross - Threads through Revelation . Together they tell the Story of the Bible from Genesis to Revelation via the cross of Jesus. And the plan is to tour all 3 exhibitions, with 44 panels, under the title Threads through the Bible from January 2025. Ten years in the making. Declaring God’s love with 100 metres of silk and 25 million stitches! As the song goes, ‘We want to see Jesus lifted high’!

Each exhibition started with no funds and has been a leap of faith. The challenge now is to make the plans for Threads through the Bible a reality. Cathedrals will contribute towards touring costs but New Creations needs to raise funds for the remaining panels, stands and lighting, exhibition equipment, van hire, publicity, and touring staff to work alongside our volunteers. The project will require approximately £93,000 in 2024 to make it ready for exhibiting from January 2025. We trust that funds and support will come in for this important project.

‘If the church is to have an effective voice, it has to speak to people in their own language. Threads through the Bible’ will present astonishing artwork that engages with everyone, young and old, whatever their background.’

THE MOST REVD AND RIGHT HONOURABLE STEPHEN COTTRELL, ARCHBISHOP OF YORK

Thank you …

New Creations is very grateful for the financial and prayerful support of many ‘friends’ - we consider them part of the team. Regular updates keep them informed and engaged. This is an exciting journey we’re on!

“I am not religious but I did find the exhibition very inspiring. Such a colourful and detailed interpretation of the biblical story. The word stunning is so often used inappropriately but in this case I can truly say I found each panel stunning.”

“My wife and I enjoyed your illustrations in Bath Abbey today. Thank you for your vision, diligence and hard work in creating these panels. Hundreds looked and read your work in the hour or so we were there.”

“I just wanted to let you know that we have completed our school-wide project, and re-created your beautiful ‘Water and sky’ panel!. All 223 children inputted their own artistic flair into it and the end result was stunning.”

“Extraordinarily beautiful. Each one I stand and gaze!”

“Eighteen of us from the Methodist Church in Felixstowe had a group outing to Ely Cathedral yesterday to see Threads Through Creation. It was my 4th visit . The trip was a huge success and everybody enjoyed the exhibition which promoted much discussion and thoughts.”

“Amazing! I’m not an artist person but I loved this. So creative and enticing and powerful. Thank you!”

“The colours and textures are stunning! A beautiful retelling of the creation story. Such artistry and vision. What a privilege to be able to stand and stare.”

New Creations General Information

DIRECTORS/TRUSTEES:-

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

OPERATIONAL DIRECTOR:REGISTERED CHARITY NO:-

COMPANY REGISTRATION NO:-

REGISTERED OFFICE:-

INDEPENDENT EXAMINERS:-

BANKERS:-

Mrs Jacqui Parkinson (appointed 6th Feb.2024)

1045719

03041408

80A Fore Street Chudleigh Newton Abbot Devon TQ13 OHT

Alpha Advisors 60 Woodcote Hurst Epsom Surrey KT18 7DT

Barclays Bank Plc Thornton Heath Croydon Surrey CR7 7YP

-6-

New Creations Report of the Trustees For the year ended 31 July 2023

The Trustees who are the Directors of the charity, submit their report and accounts for the year ended 31st July 2023.

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: 80A Fore Street, Chudleigh, Newton Abbot, Devon TQ13 0HT.

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.

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 total unrestricted reserves at the balance sheet date amount to £262,977 (2022: £291,384) of which £191,942 (2022: £191,942) is the cost of the property used as the charity's dedicated studio, and £995 (2022: £1,327) is the depreciated cost of fixtures. These fixed assets are set aside in a designated fund for permanent use of a suitable property and equipment required to fulfil the expected future activities. The free reserves of the charity, i.e. the unrestricted reserves that are freely availble for spending on the charity's objects, inclusive of designated funds not tied up in fixed assets of £231 (2022: £231) therefore amount to £70,039 (2022: £98,115). The trustees believe the reserves are at an adequate level.

FINANCIAL REVIEW

Income received was £25,238 (2022: £86,497) which represents a significant decrease from the year before.

The Trustees wish to express their thanks towards all of New Creations' donors. Overall a deficit of £(37,826) was incurred in the year (2022- surplus of £9,931). Reliance on income from donations does leave New Creations more exposed to the economic climate and the financial outlook for 2024 is uncertain, meaning that New Creations needs to secure more consistent funding, especially from individuals and churches.

New Creations Report of the Trustees For the year ended 31 July 2023 (continued)

RISK MANAGEMENT

Control Systems

The Trustees have overall responsibility for ensuring that there are appropriate control

systems for:-

Efficient and effective operation;
Protection against unauthorised use or disposition of assets;
Maintenance of proper records with the provision of reliable financial information; and
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).

The Trustees have mitigated the finance and infrastructure risks by:

Ensuring there is no over-reliance on any one funding source or fixed term income;
Ensuring systems exist to combat the threat of computer viruses and loss of information; and
Ensuring appropriate insurances are in place for equipment, completed work and work in progress.
The Trustees have mitigated operational risks by:
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

New Creations Report of the Trustees For the year ended 31 July 2023 (continued)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees (who are also Directors of New Creations for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice.)

Company law required Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and it's income and expenditure for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards, including FRS102, have been followed, subject to any material departures disclosed and explained in the financial statements;
state whether a Statement of Recommended Practice (SORP) applies and has been followed, subject to any material departures which are explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

there is no relevant information of which the charitable company’s Examiner is unaware; and
the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the Examiner is aware of that information.

AUDIT

As noted on the Trustees’ statement on the balance sheet, the Trustees have taken advantage of the exemption from audit applicable to the charitable company and these accounts have not been audited.

SMALL COMPANY EXEMPTION

This report has been prepared in accordance with the special provisions relating to small companies with Part 15 of the Companies Act 2006.

On behalf of the Board on 23/1/2024,

……………………………………..

Mrs. M.H. Izzard Trustee/Director

-9-

New Creations Independent Examinerfs Report to the Trustees of New Creations For the year ended 31 July 2023 I to tho chawitytrust8es my examinal cd the acc4xmts Cy10T the ended 31 July 2023. R•¥pon•lblltl¢• aftd bA¥l• ( rewt As the charills trustees of Ihe Company land dso its dirertors lor the purF)ses of CLYnp3ny lawl a responsible for tha prepaialion of the ac£(KJnts in accrmdance wrth tho rwuiremonls of ts Ctrnpanios Acl 21Th I'the 2006 kt'l. Having salisfJ&J mysdf that th• accwts of the Comrffjrry ar• rwJuirl to be audit&Y undtr Part 16 Df Ihe 20r Act and are eligibte for iThJep•nd8nt examinatKfft, I rewrt in of my examination of thafitys acownts as carried out under stKIn 145 of the Charibes Act 2011 Ilhe 2011 Art'l. kn caffyTrMJ my eXaMall I have folknw•d the Dirnctions gw•n by the Chty ccfftmi5sic under sectk)n 145151 Ibl of the 2011 A Independènt Ex•mln¢rf• Stst•m¢nt I have compleied my examination. I wffirm that no matterB ha¥8 0)me to my allentiun In conneclth wilh th8 examination gtng me cause to belove: 11 accounting focord$ We n( kapt of the CornY as by Sec 386 off 2LK6 Act., or 21 tha accounts do not acccKd wrth Ih(w rnccts'. or 31 ihe accounts do not compty the accting requiftiments of #edic 396 ofthe 21106 Acl other than any requirement thal Ihe acrUnts gNe a Iwe and lair view whith is nol a matter CA)nsklerp4J as pat of an independent examination: or 41 the accounts have nol b98n wepar&J in accixdance wilh the methods and windps of th8 Statemenl of Recomrnended Practice far acwjnting and repc1iftg by challbes. I have no con(*ms and have cLYnts aryDss no Dther mattws in c0nnwXM 7Mth the examinalion to which aitantion should be drawn in Ihis reFQrt in ry(Iw to enalje a kVLW undwstandrng of th8 acoyjnts to bg reath. Keith Halstsad MA (Oxonl FCA 80 Woodcote Hurst Epsom Surrey KT18 7DT Oate- Z7 10-

New Creations Statement of Financial Activities For the year ended 31 July 2023

Notes	Unrestricted General Funds £ 7,662 293	Total Funds 2022 £ 86,487 10


10 11 9
	7,955	86,497
	32,713	76,566
	32,713	76,566
	(24,757) (3,319)	9,931 -
	(28,076) 97,884	9,931 298,445
	69,808	308,376

Summary Income and Expenditure Account For the year ended 31 July 2023

Gross Income from continuing activities Total expenditure on continuing operations Net (expenditure) / income for the year	2023 £ 25,238 (63,065) (37,826)	2022 £ 86,497 (76,566)
		9,931

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.

11 -

New Creations Balance Sheet As at 31 July 2023

	Notes		2023		2022
		£	£	£	£
FIXED ASSETS
Tangible assets	4		192,937		193,269
CURRENT ASSETS
Stocks		3,720		4,278
Bank and cash		71,052		109,788
Debtors and prepayments	5	4,306		4,684
			79,078		118,750
CREDITORS
Amounts due within one year	6		(1,465)		(3,643)
NET CURRENT ASSETS			77,613		115,107
TOTAL NET ASSETS	7		270,550		308,376
THE FUNDS OF THE CHARITY
Unrestricted funds - general fund			69,808		97,884
Designated funds - fixed assets			192,937		193,269
Other designated funds			231		231
Restricted funds			7,574		16,992
	8		270,550		308,376

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board for issue on

----- Start of picture text -----
……………………………………..
----- End of picture text -----

Mrs. M.H. Izzard Trustee/Director

12 -

New Creations Notes to the accounts for the year ended 31 July 2023

1. ACCOUNTING POLICIES

Charitable Company Information

New Creations is a company limited by guarantee incorporated in England and Wales. The registered office address is 80a Fore Street, Chudleigh, Newton Abbot, England TQ13 0HT.

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.

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.

13 -

New Creations Notes to the accounts for the year ended 31 July 2023 (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.

14 -

New Creations Notes to the accounts for the year ended 31 July 2023 (continued)

4. TANGIBLE FIXED ASSETS

Assets used in direct furtherance of the charity's objects

Cost As at 1st August 2022 Additions Carried forward at 31st July 2023 Depreciation Brought forward at 1st August 2022 Charge for the year Carried forward at 31st July 2023 Net Book Value As at 31st July 2023 As at 31st July 2022	Land & Buildings £ 191,942 - 191,942 - - - 191,942 191,942	Fixtures & Equipment £ 20,520 - 20,520 19,193 332 19,525 995 1,327	Total 2023 £ 212,462 - 212,462 19,193 332 19,525 192,937 193,269	Total 2022 £ 212,462 -
				212,462
				18,751 442
				19,193
				193,269
				193,711

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 2023 amounted to £191,942 (31 July 2022: £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 2023 £ 192,937 71,504 (1,465) 262,976		2023 £ 2,945 1,361 4,306 2023 £ 1,465 1,465 Restricted Funds 2023 £ - 7,574 - 7,574		2022 £ 3,485 1,199
							4,684
							2022 £ 3,643
							3,643
							Total Funds 2023 £ 192,937 79,078 (1,465)

							270,550

15 -

New Creations

Notes to the accounts for the year ended 31 July 2023 (continued)

ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED) Tangible assets Current assets Current liabilities Net assets MOVEMENT IN FUNDS At 1st August 2022 £ - 4,070 10,782 2,140 16,992 97,884 193,269 - 231 291,384 308,376 At 1st August 2021 £ 6,883 97,600 193,711 251 - 291,562 Restricted Funds Restricted Funds - 'Threads Through the Cross' Restricted Funds - 'Threads through Revelation' Restricted Funds - 'Threads Through Creation' Restricted Funds - 'Deo Gloria Panels' Total Restricted Funds Unrestricted Funds General Funds Designated Funds - Property & Fixed Assets Designated Funds - "Linhay" Designated Funds - 'Tree of Life' & 'Open Heaven' Total Unrestricted Funds Total Funds Restricted Funds Total Restricted Funds Unrestricted Funds General Funds Designated Funds - Property & Fixed Assets Designated Funds - 'Tree of Life' Designated Funds -'Open Heaven' Total Unrestricted Funds Total Funds 298,445	General Funds 2022 £ 193,269 101,758 (3,643)	Restricted Funds 2022 £ - 16,992 - 16,992 Transfer between	Restricted Funds 2022 £ - 16,992 - 16,992 Transfer between		Total Funds 2022 £ 193,269 118,750 3,643
Tangible assets Current assets Current liabilities Net assets MOVEMENT IN FUNDS Restricted Funds Restricted Funds - 'Threads Through the Cross' Restricted Funds - 'Threads through Revelation' Restricted Funds - 'Threads Through Creation' Restricted Funds - 'Deo Gloria Panels' Total Restricted Funds Unrestricted Funds General Funds Designated Funds - Property & Fixed Assets Designated Funds - "Linhay" Designated Funds - 'Tree of Life' & 'Open Heaven' Total Unrestricted Funds Total Funds Restricted Funds Total Restricted Funds Unrestricted Funds General Funds Designated Funds - Property & Fixed Assets Designated Funds - 'Tree of Life' Designated Funds -'Open Heaven' Total Unrestricted Funds Total Funds
	291,384				308,376
	Outgoing Resources £ (11,678) - (17,635) (707)			At 31st July 2023 £ 1,841 4,070 - 1,663
		Reserves £ - - 3,319 - 3,319 (4,018) 699 - (3,319) - Transfer between

	(30,020)				7,574
	(30,880) (332) (1,832)				69,808 192,937 - 231
	(33,044)				262,976
	(63,065)				270,550
	Outgoing Resources £ (39,137)			At 31st July 2022 £ 16,992
			Reserves £ 21,100 (21,100) - - (21,100) -
	(36,967) (442) (20) -			97,884 193,269 231 -
	(37,429)			291,384
	(76,566)			308,376

Threads Through Revelation, Threads Through Creation, Tree Of Life/Open Heaven, Threads through the Cross

These four 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 4 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.

16 -

New Creations

Notes to the accounts for the year ended 31 July 2023 (continued)

9. 10.	NET INCOME/(EXPENDITURE) This is stated after charging: Depreciation of tangible assets Independent examination remuneration INVESTMENT INCOME Bank interest receivable	2023 £ 332 1,437 2023 £ 293 293		2022 £ 442 3,613
				2022 £ 10
				10

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 £ 2,106 25,200 1,474 1,032 - 332 - 1,463 1,437	Unrestricted Funds £ 2,106 25,200 1,474 1,032 - 332 - 1,463 1,437	Restricted Funds £ 7,692 8,690 1,519 6,012 5,852 - 255 - -	Restricted Funds £ 7,692 8,690 1,519 6,012 5,852 - 255 - -	Total Funds 2023 £ 9,798 33,890 2,993 7,044 5,852 332 255 1,463 1,437	2022 £ 17,408 25,200 2,586 20,468 5,123 442 152 1,574 3,613

			33,045		30,020	63,065	76,566

12. TRUSTEES

None of the Trustees were remunerated directly or indirectly. During the year expenses for telephone expenses and meetings attendance totalling £nil (2022: £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.

17 -

New Creations Notes to the accounts for the year ended 31 July 2023 (continued)

15. RELATED PARTY TRANSACTIONS

During the year, donations totaling £120 (2022: £120) were received from Marian Izzard (Trustee) to support Threads Through the Cross.

During the year, donations totaling £290 (2022: £170) were received from Robert Kitching (Trustee) to support Threads Through the Cross and the General Fund.

During the year, donations totaling £1,190 (2022: £1,080) were received from Sarah Phillips (Trustee) to support the Linhay costs.

During the year, donations totaling £90 (2022: £60) were received from Angela Smith (Trustee) to support the General Fund.

During the year, donations totaling £nil (2022: £100) 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.

-18-