CHARITY REGISTRATION NUMBER: 1052137 New Life Christian Centre Unaudited Financial Statements 31 March 2024
New Life Christian Centre Financial Statements Year ended 31 March 2024 Page Trustees, annual report Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 18 Notes to the detailed statement of financial activities 20
New Life Christian Centre Trustees, Annual Report Year ended 31 March 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and admlnlstrativè details Reglstsred charity name New Life Chrislian Centre Charlty reglstratlon number 1052137 Principal office 24 Dacre Street Morpeth Northumberland NE611HW Tha trustees M Willis S Clements l Foskett M Redding (Appointed 11 December 2024) Independent examln•r Michael W Reed Russell House Greenwell Road Alnwick Northumberland NE66 1 HB Structure, govérnance and management Governlng Document The organisation is a charity whose constitution was adopted on 10th August 1993 as amended 16th November 2007 under the goveming document which established the objects and powers of the charity. Appolntment of Trustees A person may be appointed to the office of Truslee by a resolution passed by a simple majority of the Church Council as eVIdend by a written memorandum signed by the Chairperson of the meeting at which the resolution is passed. Rlsk Assessment The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserve stated, combined with annual review of key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm Ihat they have established systems to mitigate the significant risks
New Life Christian Centre Truste8s' Annual Report (continued) Year ended 31 March 2024 Structure, governance and management (continued) Reserves Pollcy It is the trustees, aim to hold three months general expendiiure in reserve. At current rates this amounts around £34.000. The trust has not reached this goal yet it is somelhing that is being steadily moved towards. Publlc Benefit The charity acknowledge its requirement to demonstrate clearly that it must have charitable purposes or 'aims" that are for the public benefit. Details of how the charity has achieved theses are provided in the trustees report. The trustees confirm that they have paid due regard to the Charity Commission on public benefit before deciding what activities the charity should undertake. Objectlves and activitiès Objects of the Charity To advance the Christian faith in accordance with the Statement in such ways and in such parts of the United Kingdom or the wvorld as the Church Council from time to time may think frt. To relieve sickness and financial hardship and to promote and presenie good health by the provision of funds. goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the Church Council from time to time think fit. To advance education in such ways and in such parts of Ihe United Kingdom or the world as Ihe Church Council from time to time may think frt.
New Life Christian Centre Trustees. Annual Report (wInue) Year ended 31 March 2024 Objectives and activities (contlnued) Charlty Actlvltles Sunday morning worship and teaching followed by tea, coffee and light refreshments. Midweek meetings and groups for teaching. fellowship and prayer (Morpeth and Wallsend). Regular events for men and ladies. Occasional special speakers on Sunday momings andlor during the week. Occasional visits from members of different missions organisations local overséas. Weekly parent and toddler group (Jelly beans) which ernploys iwo-part time staff. Christmas paty. For church members and friends. Christmas Day services (Morpeth and Wallsend). Carol Services (Morpeth and Wallsend). Easter Day senlice (Morpeth and Wallsend). Outreach events. Both locab'ons support various missions (UK and abroad), which is an integral part of our church mission. Support includes AOG UK (as a church we are a member), Compassion {child sponsorship), Mustsrd Tree Trust (local charity working with youth), Worship on the Streets (local community outreach), Pocket Testament League, a church in Rwanda (Pastor Francis) and others. We contracted Youth for Christ (Yfc) to set up and run after school youth drop-in sessions al both Morpeth and Wallsend. Our ministry school {Revival School) holds mini-conference style training over various weekends. We use a mixture of speakers (in-house. local and from as far afield as the USA). The aim is to train and equip balievers in the l¢xal and regional church in leadership and to fulfil the Great Commission. The church buildings are also renled out (some regular bookings, some ad-hoc) for activities which the trustees have agreed are operated in line with the church's aims and objectives. Achiav•ments and performance 2023124 has been a year of strengthening and growing leadership capacity, in numbers and skill of leadership and getting ready for a greater distribution of leadership responsibilities across the growing team. Finances have been broadly stsble, with a 70/0 reduction in general giving (our largest single area of income), but increase in other areas. Volunteer activity continues to be a great strength of the church. with many members donating generously from both their time and finances. At Wallsend the addition of a second congregation in the afternoons, many of whom are Filipino believers has increased the use and effecliveness of the church building there.
New Life Christian Centre Trustees. Annual Report (contlnued) Year ended 31 March 2024 Flnanclal revlew The charity this year had an increase in income of £15.246 to £138,810. up 12.35 /0 over the previous year, but cash reserves fell to £17k. However overall. the charity generated a deficit of £7,912 (2023 a deficit of £12.488) mainly due to the £16.2k charge for depreciation. The trustees, annual report was approved on 29 January 2025 and signed on behalf of the board of truslees by: M Redding Trustee
New Life Christian Centre Independent Examiner's Report to the Trustees of New Life Christian Centre Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of New Life Christian Centre (lhe charity) for the year ended 31 March 2024. Responslbllitles and basis of report As the Irustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Acr}. I report in respect of my examination of the chariws financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable DirectÉons given by the Charity Commission under section 145(5)(b) of the Act. Independent examinerfs statement 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: accounting records were not kept in respect of the charity as required by section 130 of the Act. or the financial statements do not accord with those records. or the financial slatements do not comply with the applicable requirements ¢onceming the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that Ihe accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no COnmS 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. Michael W Reed Independent Examiner Russell House Greenwell Road Alnwick Northumberland NE66 1 HB 29 January 2025
New Life Christian Centre Statement of Financial Activltles Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Income and endowments Donations and legacies Charitable activities Inveslment income 129.292 653 8.865 129.292 653 8.865 116,680 760 6.106 Total Income 138,810 138,810 123.546 Expenditure Expenditure on charitable activities Total expendlture 146,722 146,722 135,994 146.722 146.722 135,994 Net expenditure and net movement in funds (7,912) (7.912) (12,448) Reconclliation of funds Tolal funds broughl forward Total funds Carr1 forward 633,835 625,923 633,842 625.930 646,290 633,842 The statement of financial actmties includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 16 forni part of th880 financial statements.
New Life Christian Centre Statement of Financial Position 31 March 2024 2024 2023 Nots Flxed assets Tangible fixed assets 13 646,313 661,849 Current assets Debtors Cash at bank and in hand 14 27,520 18,225 11,768 32.476 45,745 44,244 Creditors: amounts falling due within one year Net current assets 15 10,393 10.930 35.352 33,314 695,163 Total assets less current Ilabllltles 681,665 Creditors: amounts falling due after more than one year Net assets 16 55,735 625,930 61,321 633.842 Funds of the charity Restricted funds Unrestricted funds 625,923 633,835 Total charity funds 18 625.930 633.842 These financial statements were approved by the board of trustees and authorised for issue on 29 January 2025, and are signed on behalf of the board by: M Redding Trustee The notes on pages 8 to 16 fomi part of these financial statements.
New Life Christian Centre Notes to the Flnanclal Statements Year ended 31 March 2024 General Infomiatlon The charity is a public benefit entity and a regislered charity in England and Wales and is unincorporated. The address of the principal Offi is 24 Dacre Street, Morpeth, Northumberland, NE611HW. statement of compliance These financial statemenls have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., 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 Iraland {FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accountlng policies Basis of praparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concern There are no material uncertainties about the charitls ability to continue. Judgements and key sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affecl the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed to be reasonable under the circums1ans. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to fvrther any of Ihe charitls purposes. Designated funds are unrestricted funds eamiarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of sub-classes: reslricted income funds or endowment funds.
New Life Christian Centre Notes to the Financlal Statements (contlnued) Year ended 31 March 2024 Accountlng pollcles (continued) Incoming resources All income is recognised On the charity has entitlement to the income, it is probable that the income viill be received and the amount of income re1vable can be measured reliably. Donated ServIS or facilities are recognised when the charity has control over the item. any conditions associated with the donated item has been met. the eipt of economic benefit from the the use of the charity of the item is probable and that economic benefrt can measured. reliably. In accordance with the Charities SORP (FRS 102}, the general volunteer time is not recognised. On receipl, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amounl that the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under the Gift Aid or deeds of covenant is recognised at the time of donation. Resources expendéd Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in the settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lotal of direct costs and shared costs, including support costs involved in undertaking the activity. Direct costs attributsble to a single activity are allocated directly to that activity. Support costs are those costs incurred directly in the support of expenditure on the objects of the charty. Charitable aclivities are costs incurred on the charitys operations including support costs and costs relating to the governan of the charity apportioned to charitable activities. Operatlng leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Tangiblo assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value al the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
New Life Christian Centre Notes to the Financial Statements (contlnuedj Year ended 31 March 2024 Accountlng policles (eontlnued) Tanglble assets (¢ontlnued) An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Deprecialion Depreciation is calculated so as to vKite off the cost or valuation of an asset. less its r8sidual value, over the useful economic life of that asset as follows: Freehold property Plant and machinery Fixtures and fittings 20/9 Straight line 15 years straight line 20Yo reducing balance Impalnnent of fixed assets A revlew for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds Ihe recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimata is made of the recoverable amounl of the cash-generaling unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impainnent testing of goodwill, the goodwill acquired in a business combination Is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefrt from the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned to those units. Flnancial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instNments are initially recognised at the amount re1vable or payable including any related transaction costs. Current assets and Current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. 10
New Life Christian Centre Notes to the Financial Statements (ltInued) Year ended 31 March 2024 Accountlng pollcles (eontinuedj Financial instruments (contlnued) Where inveslments in shares are publicly traded or their fair value can otherwise be measured reliably. the investment is subsequently measured at fair value wtth changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments. including derivatives. are initially recognised at fair value. unless payment for an asset is defeThed beyond norrnal business terms or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the ststement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are VieWed for objective evidence of impaiment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is rewgnised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of signfficance. and other financial assets that are individually significant. these are assessed individually for impainnent. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impa(rment not previously been recognised. Deflned contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to Ihe extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributs'ons are not expected to be settled wholly within 12 months of the end of the reporb'ng date in which the employees render the related service, the liabilty is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Donations and legacies unstrICted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Donations Donations Fees reiVed Church group income 123.670 123,670 113,762 500 2.418 113,762 500 2,418 3.922 3,922 11
New Life Christian Centre Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Donations and legacies (contlnuedj Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Grants Grants received Fundraising income 500 1.200 500 1,200 129.292 129.292 116,680 116,680 Charitabla actlvltles Unreslricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Sale of goodslservices as part of direct charitable activities 653 653 760 760 Investmont Income Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Room hire and rental income Income from cash investments 8,451 414 8,451 414 5,995 111 5.995 111 8,865 8.865 6.106 6,106 Expendituré on charltabla actlvltles by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Activities Support costs 53.622 93.100 53,622 93,100 146.722 53.178 82.816 53,178 82.816 146.722 135,994 135.994 Analysls of support costs Analysis of support costs activity 1 Total 2024 Total 2023 Staff costs Premises Communicattons and IT General office Finan costs Support costs - Other costs 51,846 22,195 2,481 3,929 5,004 6,395 51.846 22,195 2,481 3.929 5,004 6.395 51,998 18,548 1.972 3.436 4.205 1.407 91.850 91,850 81.566 12
New Life Christian Centre Notes to the Financial Statements (continuod) Year ended 31 March 2024 Net expenditure Net expenditure is slated after chargingl{crediting): 2024 2023 Deprecialion of tangible fixed assets Operating lease rentals 16.236 9,108 16,612 7,954 10. Indépèndént examination fees 2024 2023 Fees payabla to the independent examiner for: Independent examination of the financial statemenls 1,250 1.250 11. staff Costs The tolal staff $ts and employee benefits for the reporting period are analysed 8s follows: 2024 2023 Wages and salaries Employer contributions to pension plans 51,025 821 51.176 822 51.846 51,998 The average head count of employees during the year was 5 (2023: 6). No employee received employee benefits of more than £60.000 during the year (2023: Nil). 12. Trustee remuneratlon and expenses During the year, M Willis received remuneration and pension contributions of £33,595 (2023:£34,417). No Trustees received any benefrts or received any reimbursement of expenses. 13
New Life Christian Centre Notes to the Financial Statements (ltInued) Year ended 31 March 2024 13. Tanglble flxed assets Freehold property Plant and Fixtures and machinery fittings Total Cost At 1 April 2023 Additions 697,121 11,853 48,802 700 757.776 700 At 31 March 2024 697,121 11,853 49.502 758.476 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 50,693 13,942 64,635 3.950 790 41,284 95,927 16,236 4,740 42,788 112,163 Carrylng amount At 31 March 2024 632.486 7.113 6.714 646,313 661,849 At 31 March 2023 646.428 7,903 7,518 14. Debtors 2024 2023 Other debtors 27,520 11,768 15. Creditors: amounts falllng due wlthln one year 2024 2023 Bank loans and overdrafts Accruals and deferred income Social security and other taxes 6,915 2,355 1,123 6,917 2,355 1,658 10.393 10.930 16. Credltors: amounts falllng due after more than one year 2024 2023 Bank loans and overdrafts 55,735 61,321 Induded within creditors: amounts falling due after more than one year is an amount of £21,148 (2023: £26,734) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date. The bank loan is repayable over 20 years and carries interest of 5.50/0. It is secured on the freehold property. There is a lrfe policy in the name of M Willis which in the event of his death will pay the mortgage in full. 14
New Life Christian Centre Notes to the Financial Statements (continuad) Year ended 31 March 2024 17. Penslons and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £821 (2023: £822). 18. Analysis of charltable funds Unrestricted funds At 1 April 2023 At Income Expenditure 31 March 2024 General funds 633,835 138,810 (146.722) 625,923 At 1 April 2022 At Income Expenditure 31 March 2023 General funds 646.283 123.546 (135,994) 633.835 Restricted funds At 1 April 2023 At Income Expenditure 31 March 2024 Betel charity furniture At 1 April 2022 At Income Expenditure 31 March 2023 Betel charity fumiture 15
New Life Christian Centre Notes to the Financial Statements (contlnuedj Year ended 31 March 2024 19. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 646.313 45.738 (10.393) (55.735) 625,923 646.313 45,745 {10.393) {55.735) 625,930 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assels 661.849 44.237 (10.930) (61.321) 633,835 661.849 44.244 (10.930) (61.321) 633,842 20. Analysis of ¢harltablè funds Included in the general fund is a transfer in of £160,826 from Wallsend New Lrfe Christian Centre after the completion of a merger on 31 Dember 2020 21. Related parties During the year Trustee M Willis received £34.417 as salary and defined pension contributions of £821 (2023-£33.595 salary and £822) in his capacity as Paster for New Life Christian Centre in furtherance of the Charitys objects. In addition. in recognition of her work within the Church in furtherance of the Charitys objects, a salary of 7,889{2023-£6.500) was paid to K Willis. No other paentS were made to Trustees or any person connected with them during the financial period. No other material transactions took place between the organisation and a Trustee or any person connected with a Trustee. 16
New Life Christian Centre Management Information Year ended 31 March 2024 The following pages do not form part of the flnancial statements. 17
New Life Christian Centre Detailed Statement of Flnancial Activities Year ended 31 March 2024 2024 2023 Income and endowments Donations and legaclos Donations Fees received Church group incoma Grdnts received Fundraising income 123,670 113,762 500 2,418 3,922 500 1.200 129,292 116.680 Charftable actlvlties Sale of goodslseniices as part of direct charitable aclivities 653 760 Investment income Room hire and rental income Income from cash investments 8,451 414 5,995 111 8,865 6,106 Total income 138,810 123,546 18
New Life Christian Centre Detailed Statement of Financial Activitl8S (¢¢>ntinued) Year ended 31 March 2024 2024 2023 Expendlture Expenditure on charitable activities Wages and salaries Pension costs Church titheslGrants Stsff training and grants Light and heat Repairs and maintenance Insurance Other establishment Motor and travel Materials Sunday School activities Fees paid Event costs and subscriptions Office costs Depreciation Interest on bank loans and overdrafts Pa11 and software costs Accountancy charges Website and IT costs Ministry grfts Pastoral Bank charges 51.025 821 9.108 1,688 9,900 8,313 3,982 51,176 822 7,954 6,451 7.433 7.529 3.586 591 1.407 4.586 5.270 1.408 518 180 3.770 1,628 16,236 5,004 916 1.452 2.481 5.693 17.090 239 467 1,431 1,593 16,612 4.205 640 1.597 1.972 2.035 13.653 254 146,722 135.994 Tolal expendlture 146,722 135,994 Net expendlture (7.912) (12,448) 19
New Life Christian Centre Notes to the Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Expèndlturé on charitablè activitiés Aclivitias Actlvltles undertakon dlrectly Church titheslgrants Grants Materials Sunday school activitÉes Fees paid Event costs Depreciation Ministry gffts Pastoral Bank charges 9,108 563 1,408 518 180 2,587 16,236 5,693 17.090 239 7,954 6,451 4,586 467 1,166 16,612 2,035 13,653 254 53,622 53,178 Support costs Wageslsalaries Pension costs Stsff training cosls Light & heat Repairs & maintenance Insuranca Sundries Motor and travel Subscriptions Office costs Interest on bank loans and overdrafts Payroll and software costs Accountancy charges Website and IT cosls 51,025 821 1,125 9,900 8,313 3.982 51,176 822 7,433 7,529 3.586 591 1,407 265 1.593 4.205 5,270 1,183 1.628 5.004 916 1,452 2.481 1.597 1.972 93,100 82,816 Expenditure on charitable activities 146,722 135,994 20