Clwrlty r•glstratlon nuTrknr 11168899 FThlll•nd and Wal•*l c{4np￿Y roglBhtlon nwnb•r l)3602355 NEW SPRINGS UK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NEW SPRINGS UK LEGAL AND ADMINISTRATIVE INFORMATION Mr R A1kinson MrXL*i Mr N MrPknr Hknr 8•nlor man•g•m•nt RévPCKkn Rw N V4tsaver Chllrlty numb•r (England and Wiln) 1088899 Comp•ny numbw R•gl•t•r•d fANc• Th• NSC Arnna 4 Bebn Road V￿11 Extans Loughborou9h LE115XH Ind•p•nd•nt •x•mln•r Rc•J8TS SpenL¥r No￿tead H¢)u P•Th8m Road Nottlngham NG5 1AP NEW SPRINGS UK CONTENTS Pago statement oltnr3tees' r•9ponsibIl￿3 Indopendent ￿nInett3 report SlateAnent of)Inandal a¢lWI Balanc• theet staknent ol￿th 10 Notes to thè ffiandal 8latem•nts NEW SPRINGS UK TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 310ECEMBER 2024 The trustees prewt thelr onnual report and fln8nd81 statfjmg￿ tr Ihe year endvd 31 Oac?m￿l 2024. The ffnandal statements have teen prepared in acri)Tdanc• with ts accounting poliry•8 8Ot oui 1 ID Ihe Iln8ndal stalements and carnply with the go¥wnkng d0￿Ment, tl* Companies Act 20CB and 'Accwntn9 and Rwtirwj by Charities". Statsrnent of ReC￿mended Prath aFvlicabl8 to ch8rftk* prnparing thelr acu)unts in accord8nr* with the FlnancAal Rèporting StsTrJwd applcablo In the UK and Republic of Ireland (FRS 102r (effective 1 January 20191. Obl•¢tlv•• •nd *¢tlvlll•8 Chaiilablè objects (81 lo adv8nc4 the ChTl&tlan fath In ocuKdanco wlth the statwn8rt of bèllèf8 wthln the arna of bon•ffit a8 Iha directors olthe charfty (herein ￿lled Iw8tee&l may from timg lo thne thlnk fiL (b) kn relleve pernons In condlllonl of no•d or h•Tdthlp or are 8god or sld( orwho arn hcffiel8sB ond to rollo￿ the diJtr85s c•u8•d th8rnby wlthin the areo olbwgft as ￿ irusteoB may frorn thne to tkne thlrt fiL (c) to adv￿(¥ educatkjn In grcordgn¢o wilh Chrl8tlon PTlnclp188 wlthln tho arna of bomfft 08 the trugtoa¥ may fwc me to thno thknk fft. {d) to prornale Boclal rospon81bl1￿ and penonal mfnllty for the publlc bOr￿fft W￿1n the •re• of bonefft •& th? tru8tee8 may from ￿rn0 to tlme thlnk fft. {•) to promot• th• Yohobllllatlon of P8T8ons allOct￿ by alr￿1 8fKI othar 8ub&tane• addl¢trJn and ab vAthln tho ama of b8n•fft 86 the trustses may from to thno thlnk fft. (fj lo pnJmol• and such oth¥r ¢harlt*l• pU￿Be8 Ixneilclal to tho c>)mmunlty wthin the w•a ol b•MfiI v4h•re th• thArty may b• Oporn￿n9 a• the trustaos m•y from Ilme to tkn• thknl( fft. Flth benefft The truslees ha* pald dua rega￿1 to guklAnca 158U8d by fv Ch8rlty Cfrnlssion In deckling what Ktl¥lth8 the char￿¥ should U￿10rtak0. Voluntee have 8 8ignificanl number of ¥olunt88rn- 101k150-*thlth ￿ c411 on •uwort at varlou8 vmBkly •vent• aThl 0th8r OTganised eventB. NEW SPRINGS UK TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢hl•v•rn•nts •nd p•rforni*nc• Tho B¢wd of DiTertOTS and Trustew of New Sprirwp UK ctyrry the overnll responsbiltty for managlng al as[￿￿5 of tho L*arfty. ￿Ing with Chlef Exeartl¥* ty doveky the strategy and ON￿11 eypAnsw of#* t*wity. The Boawd is to ￿ h4hbf commended for th8k work tl¥wgI￿t the year in Ond overneèing the thwity through yet another exlremety busy year. 18m pleased to ￿ d)le to report that Spring$ UK contlnued to (¥wrats and dov81op overall kn a number of ways bn 2024. held four ThJst•wlDk•cknrn meotlngs IhrougPK>ul yew as kn•ll AOM. Thèm are now officl•lly four New Sprfngs congregations loc4tod in LwghbrKowh, Sund•rtand and StthtroTrTrent and our mare recent church plant In HathpoDI. County Durtmm whlth we are plused to 88y IJ 888kng steady iMJt sure Progr￿￿. Tha low eoryrogatlons between them cryMJuL*ed dose to 400 swrate SuThlay church $8fvlctt throughoui th8 year. The fr￿r congTegations also held mld**ek mo•lings n￿r¥j In totsl to over 420 drflorant 9d￿rIn￿ of varylng slzas whlth InclLKled blblo 8bJd*yw meellrvJ8lmhlwe8k *rvlee8. small 4upport groups, etc. Bet4won thè four CA)ngregatlon8 thwe wwe a180 a MYT￿ of sodal and mini8ty that have laken pla￿ - •,9. o)ffa• . drcp. in ￿10￿. youth and chiklren's adlvltkns. ccrfnm4mty strKy5 etc. Concernlng the 8rn8 af aur Mlnl&ty Tralnlng and DoveWment Prngramme, the charfty In1￿ted in p8y6ng for fr40 01 tho New SpTingJ Mlnlsty to 8tt8nd the vfftklow Ellrn Leadernhlp ConferenG8 SummR in H8rrrgJ•ts Sn Moy 2024. Thorn were 0190 varlous Inthouse tyalning InitiBtt¥•B. The thgrty al80 ongagad Sn supwbng Iwo of Ils mlnlst•r8 as they puTrued JtudylrvJ for a thèological degreo gnd prwdlnatlon 61ulies rosp0cll￿ty. Pathr Ellen LOc&Wo￿ thJe to graduate in 2025 and Zath Vthr, our Youth Le8d, who 18 due to grnduate 2025 8nd then appty for a 3-year Minilty In Trainlw programme vthlc* wlll hopefully18od lo onlinalion. NEW SPRINGS UK TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2024 are pleased to fepDrt that 2024 ¥•w us lake 30 plus ywng pB(yl8 to thfy *wk.kry Notional LrnltteBs Youih FeJtr4al in Stsfford. P8BttY Sarah completed her knr-yeor MIn1￿ In Traknlng programmo and wag ordalned In June 2024 In Blrmlwam. Tho Sprlngs 8th Annual SHE Lad1￿ crmferen￿ was stapd 6nd hNt•d at tho NSC Arnno n Lougl4miwJh wth 180 Thyxnen In atterKtanfX frrjm all 04wr th8 UK. Now SprfNJs al80 ho8ted 80v•rnI 0th8r ndonal confernnces hold at our exc*llont pr6mls•8, the NSC Arena In L0WoT￿gh. New Spn'ngs UK hald their Annual GALq Banqwt cowatlng tho offjanisatM)n'6 annlvernery with an attendanc• Df 150 plus peopl&. Thè O￿nIng w8s yet again 9 gTeal SU￿¢88 with sev8ral professlonal V4bst Errtl guests ofttertaining us Ihroughout th8 evenlw. All four thurchDs vMr• oxlensfv Ea8teT. HaM•t Th￿ks9￿Ing and Chri8trna8 pmprnmffl•8. Al80. b8tth￿n the four thurchts ¥pocial owni¥ and 8ryaTrJed. Other evtynts thrtyJghout ts year Included Messy Church aftemoons. Con¢￿ts, Th& Annual Llght Paity (AliemAtlv• Holltyw••n). V¥kn •lK* hehj 6ix 'wnal SON￿8. t￿rI￿j the year varfou• tY*nber8 of tho Naw SpTkng$ Nauonal N•lwNk trmlled ￿tensIVety •rourKI th• county taklng •F••klng engagements. WYlou$ mBmbers of th• t•am ￿paged wldgty In montorkno other loathrs 8nd mlnhtsrn. 2024 uJ18unchlng our new LAMP {L￿dershIp and Mlnlstry Palhway) prourammo. Th• ymr law u8 hostlThJ 12 drfloront theological modukn uslng varylng theokngkal laclurern to delNryr lh8 Modu￿$. N•w Swkngs UK continue8 to enjoy a sp8¢1al rel8tlonshlp parthornhlp wth •i•ter th•rltles. PACE, L￿ght￿rOu￿ and the Elhn P¢ntoco8ts1 ChuTth Movemont nalknn8￿. In J•nu•ry 2024, Sprlngl UK plgamd to pather 'Churches kn commun￿￿8 Int•malional' and'swts Chwlalrry U.K' to ordaln laad8r8 who had prO￿d th8lr mlnl8ty fr(m Sports Ch4pl8lncy UK Nowmbw 2024 gaw the 8•¢ond thrn•4kny New Sylry L•8deT8hlp Synposlum hehy at tho Now offi￿ Loughbcyough. S￿￿er 2024 Saw us In8Ig•ts • n•tlonal lour-yew ¢lw¢h grryrti dayèlowent progr•nmo •nlWad "The Otymprc Challvnge.. The doshu months of 2024 saw New Sprlngs UK tywinting a new sollcitor with our forner solickor retlrkng. solkltor we appDlnted was Mr8 Edwina Turner 8t Anthony Colllns LLP h Blmiingham. This particular law fim has speddlst *Artmenl In Charity law. Looklng frnrd Into 2025 . The up4nd•comlng year will so0 Sprkngs U.K. c(rtlnulng ts estsblbh the new c*wch at HArtlew afid knok at the po￿lbil￿ of planting aoakn. . ￿wIll run anothw yoar ot oui Blbl8 Sthool LAMP. our L••J¢rahlp and Mkniitry Pathway. . ￿￿WIll o)nilnue dwKloping our Otympk Cholle￿O Strategy. . Ktswill host a 8yntheant VE D•y 80th annlvwsvy c*letff•tkn in May 2025. NEW SPRINGS UK TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR EAIDED 31 DECEAIBER 2024 Flnanclal rn11oW At the end of the financlal perlod tho company hekl n81 a88els of £1.083,3(r2 (2023: £1,086,177). crynptsir UDre5trided furMl$ of that sum. Totsl Incorne for lh8 P8rMMI WB8 £565,711 (2023: £590.402), all consisknng of unre9tr1thd fuThls. Expenditure on tharitablè adwilles for Ihe p￿1￿1 Vrds £568.586 (£482,165), resuftry in net 0>p￿ditUrn of £2.875 (2023.. not Inoyne £128.237). The dtrerAors are satisfied that sufflrjent IlJrKlirvJ will b• a¥ail•N• In the fLYeseeable fu￿1¢ and acrAJrd¥igly proBent th880 Ilnancial stat￿ents on the golng concern b8Jls. Res•Nes pdky li Is the polity of the charty thot unrestrlrl•d funds hBVO not t￿n deslgnated fry 8 Specific use 8houhJ bo m81ni8ln•J at a IBv81 gqutvalent to bot4wen three and slx month's eyrKlliurn. The INSteeg consKler that re8er¥ at Ihis lovel wlll ensure that, In the event of a 81gnirK￿t drop h fundlng, thay will be ablo to contlnue thfr ch¥W8 current Octlvttles thnslder8tlon Is gl¥en to ways in whkh add￿0￿81 fijnds may be rnljed. Free rnsor￿ Sh￿￿￿ by th•8e aC￿unts ar8 £15.655 and therefore the trustees are taklng athn to Increa8• iha remrves In lino the poIIGy. Alaloriisks Signilk•nl oxtom81 ri•ks to Income are cththu•lty rnvlow•d lo ensurn that sulfidont fvndl ir• In pl•co. Int•m•l sks arn rnlnlmlgod by the Implementatlon of pYo(%dures for aulhorlsallon of all tr¥nBactlons to en8ure ¢A)ns6stenl quolty of dell¥ery for all oporntlonal •5pod8 01 tho charlty. pro￿dure6 aro pertgdlcalty r•viMd to •nwrn that thay stlll mggt tho nood8 of the charity. 8tru¢tur•. gov•m•nc• Ind m•n•g•m•nt The th8rity18 8 c(*npany lIm￿ad by guaranteo. The trustees. who are also tho dlr0rtor¥ for the purpose of oJmp8ny I￿, and who •emd durfng lh8 year •nd to thg of $lwoturn ol the finandal statemonts Mr R Al¢lnwn MIXLln Mf E Loc**r MT N ￿￿*Ver Mr P R￿ul1M*nI and •ppdnlm•nt ollrust•8s New Swlngs UK c8rrles oui an annual skllL8 awlll of cmnt TnJst•8S knowWJ• 94￿ wlthi) th• b¢)ard and Ih•n actlvely takes stsps to rK¥uit Trwteos •ccordln4y, New Directo￿ wll lamlllar wth the prncllcal w(Kk of the dwty after readlrffd the Annual Report arKI wll have r8cel¥8d a copy of the MemcTrndum Mlcles and thg ktesi f￿ancIal ropoits. They wlll a180 meet wllh I Chlef ExeoJtlv8 and ex￿tIng Dlrgctors as well 88 bolng off•rnd oppthin1118S to VIS￿ wilh the staff teom. Anawements lor￿ltsnq pay and remunernlion For the mlnlst?rial slaff we use the Ellm Pentecostsl Church's Ter>￿MeThIed 88lary scab. For olher Staff a) we liaise wlth the staff in question, and b) we look al average h￿usty bènd)mArf($ for o strnilar To￿. have a board oftNJteesldlrBctors meet four Ilnw a year and vtho steor the deci51ons of the ￿an1$allon. The CEO and Ihe Senior Leader administsr the oulworknng ol the various decisions on a day to day ￿15 With 91slanLT trom the Admln arKI Fln8nce Tef4n. NEW SPRINGS UK TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 Relationship wllh Trlatedpartles work whh othor organlsatlon$ Suth a$ PAC& Bu(*nall Pentecostal Cl¥Jr(*. Local coundllor8 and the local uncil ElimECI. and wo arn memborts of ihe Loughbomugh Churches P8rtnoTshlp and th8 natlonal organlsatlon The Evangelical Allian¢*, plus Organisa￿Tr6 in tho Sund¥knd arna. Th trusteg1' féport was approved by th? Board of TfUSt•th. Mr P bl*avBr NEW SPRINGS UK STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The tnwtees, are also the dlrnL#orn of Nv* Swing5 UK for the puw of o)mpany law. ore responsiblp ftbT ¥npAriry Ihe Tn￿te88, Rwt and the financlal slatements In accordanc8 with applicab18 jaw and United KlngdNn A￿￿UntI￿ Stwdwds (Unlted Gowally Aec•pt•dALtwnlhvJ Practi￿), Company18w rnquins th• 1ruSte￿ to wapore lIn￿C￿l ￿atements eath flnanclBI year vthlch gl¥* a trthi and fair vl•w of the Jtste of affalrn ol the tharlty and d the wKoming resou￿ and aFplicatton of resourc45, #icluthj I incrrn and 84wKlthre, ofthe charitab18 wywny ftx that￿￿r. pre￿n9 these financlal slatements. thè trustee8 arn requrad to.. - ￿18Ct suitable occountlThJ pollcies orKI then appty them rmNl8tentty.' - LtheThe tho meth¢)ds arKI prlndpl8B In the Chorlt4•8 SORP,. - mthè AUdg￿0nts and osllmatt8 that ar8 feasonablè and pftthnt - 8tat• wtrtther appllcabl8 UK Aeolunting Standards have been follow￿, s￿le￿ to afry materiol departsj dhclos•d and wklned In the financial statem￿. and . prepare tho flnandal 8tat*nents on t￿ gokng concem baBls unla88 ￿ la InapproprlAt8 to wesumè Il*t the ch8rlty wlll c(mlinue In oporatlon. Th8 tru•tees 8re r•6ponsb18 for keeplng adequate arn)unting r￿￿[d3 that discloae with raa6onable •(EUTBLy at any tine the finawal positlon ofth8 tharrty and enable them to en8ure that the finaTrclal gtatoments (xmnpty wlth tha Cijmpanles Acl 2008. Tlw are Tospon8*ble for Safeguanlng the 888ets gf the honc• lor tskl r•awiabl8 8t•p8 forlho pr•v•ntion •nd d•t•dbon of and ¢Jtlw iTh•gulwitkn. NEW SPRINGS UK INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW SPRINGS UK I rewt lo the trustees on my axamknat*Jn of the finmclal ststements of Swfjngs UK (the (thrity) fty the y￿r endéd 31 De(x*nber 2024. R••pon•blllll•• and of report As the trusteas of the ¢hgrity {and also11s dyectws for the purymes of compjylow). you are for thè eparntim of th8 financ4al ststem•nts in accordanc• Il* rwuirements of Ihe Cixnpani88 Ad 2006. Having Mlsfi8d MY￿1[ th*t lh8 firnncial Statem￿ of the tharity 8fe Tr)t requIr￿1 to be wdlted uThler Pf4t 16 of tho CLYnpaniès Act 2LK16 aTrJ are ellgible for ￿dependent examwlation, I r•[m￿ in regped of my examinotlOD ol tho d)arfty* fin￿cIal statements Carr￿ under secilon 14S o1th8 Chariil8B Acl 2011. In canying my oxwnin8t I ha￿ folltyh*d th• DSr•ctions gl¥en by tha Charky Commlssion under sartion 145(5)(bl of tho CharthsAd 2011. kndop•nd•nt •xaMIn•￿ •tat•m•nt sin￿ the tharlW3 gross in(xxne eX[￿led £250.0(M), th• Indepwth •xwn#w must b• a mombor of a body li8t•d In eectloD 145 of thg Charities Act 2011. 1 confinn that l am quallfied to undertake the examlnatlon bec•use l Am a I h•v• c(¥npkntsd my •xwnInats.￿, l Ihat no mattern have (xxno to rny alienkn In conn0￿¢￿ ¥Ath th• examknatlDn gp•iry me cause to bell￿ Ihat In any malerlal Te•F*d' aCC￿MtIng rec4xd• vnre not kepl kn re•pgct of th? dwrty as rwulrnd by S•Gllon 386 of tho Comp8nle8 Act the financkql 8lalements do not accord wlth thNe rnwd5: or th• fin9nd￿ Statements do not rAmply wlth tho ac(>)untlw rnqulrnmonts of seei1￿ 398 (I tho Compwilo8 A 201A othèr than Any rnqukement that th8 fina￿1￿1 stalements gl¥* • •rKI falr vlow, ￿1¢h i• not a mglter (¥)n8kl•rnd as part of an I￿pe￿Ient exarnlnatlon: or the lknanclol gtatwnents haKe not been wepared kn acto￿an￿ wlth th• m•tho(th and prlndpkn of ij statement ol Rocommornled Pfactlc• for acc4Jurfw and repjrtwig by c￿r11th applirable lo pr•pafln9 Ihe* fir•n¢ial ot8temon18 in •c¢crtanc* with tho FinAncr•l Repotho Standwd appl1¢￿)10 n th• UK aThl RapA>lbc of Ireland (FRS 102). I have no cwiwns a be draMI Ye CL￿ ac¥os5 no othvr rn8tt8￿ In cL￿neCtIon wllh the examlnBtlon to vthkh attentlr rt kn orforlo enoblo a proper undorntwdlrs ofthè fingncial siaiements to ￿ Te8ched, M•lvln 8•ll•y FCCA DChA for aThJ on behaw of Roo0rn Sp•ne•r Ch•rt•r•d A¢Munt•nts Nthvglead Hou80 Ne￿lead Hou pelh￿ Road Nottingham NG5 1AP 111712S NEW SPRINGS UK STATEIAENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Totsl lund• 2024 lund• 2023 lund• 2023 2023 In¢om• from: Donatlons and *acles Chaiilabkq actlvltl•& 384.721 173.733 7.257 SOD.189 79.468 10.745 S￿.189 79.468 10.745 TolAI In¢om• 565.711 5KI,402 Sg),402 Cha￿18b10 activli 455.5CKI 6.865 462,165 Totsl •xp•ndI￿1• 568.5 482,165 Not In¢aM•ll•xp•ndltuM) and mov•m•nt In (2,875) 134.902 (0,865 128,237 R•conclll•tlon of lund•: Fund baiances at 1 January 2024 1.086.177 951.275 957.940 Fund bal•n¢M at 31 D•¢•mb•r 2024 1.083.302 1,088.177 1.088.177 The ststemenl of fiD•ncial qdvltle8 In¢lth all galn8 and108•e8 reetsJnlBed In the year. All In(x)mè ATh1 expendltwe derlve Irun c•ntlnulng 8d¥ltth, NEW SPRINGS UK BALANCE SHEET AS AT 31 DECEAIBER 2024 2024 Trylblft 0••8ts 12 1.587.316 1.589,761 IJ 8,519 40.961 41.V22 Cash at bank and In h•nd 34,81e Cr•dltorn: •mounl• f•lllng du• wlthln (18,981) (20.481) N•t ¢uTh•nt M••t• 15.855 62.402 Tol•l ••••ts l••• curr•Trt l￿bIllI￿* 1.601971 1,632,163 Cmdllorn: Amounts f•lllng du• •ft•r mor• th•n on• ymr 18 (519,4369) {545,986) N•t 1,083.302 1,088,177 Th• fund• ofth• eh•rlty Unr8thiAed fvndj 1,083,302 1,088.177 1,083,302 1,088.177 Tho Cfxwny Is ￿tItled to th• •xamOlon from tho audli rnquhmelrt c {99.756) N•t u•h umd In Inv••tlng *ctlvllknB (88,581) (99,756) FlnAfielng •Ctl¥lll•• R•paym•nt of b8rd( loan• (24,840) (18.950) N•t umd In flMn¢lng 1¢tlvll (24.840) (18.950) Not Id•¢rou•yln¢mv In ¢••h and ca•h •qulv•l•nt• (15.82n 8,610 Cuh and e4sh •quivaients at begknnlNJ of y•8r 41.922 33.312 Cash •fid ¢••h •qufval•nt• •t •nd oly•ar 41.922 CASH FLOWOUTOF 8AUIICE B 12> 10- NEWSPRINGS UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEAIBER 2024 A￿0￿rtIng pollcl•• Chwlty Infomiallon New Springs UK Is a prfvaie cx)mpany limw by guaTrnts8 i￿(￿p0￿￿ in England and ￿188. Thè regigternd offL* 18 Th8 NSC Arnno. 4 Berton Road Exthsion. Loughborough, Le1￿, LE11 SXH. 1.1 A¢c•untJng conv•ntlon The financial Statements have kmen weparnd In accLYdanca with the thantys 90￿MIr￿j th)￿nI, Compank8 Acl 2006. FRS 102 'Th Financial Reportrt Standard 4¥licabl8 in the UK Republtc of IrelarKI' fFRS 10T) and the char￿08 SORP "Acuwntkng and Reporting by Char￿￿.. Statffinwrt of Récmimended Practke applicablè to dMTilie$ weparing th8ir actounts In accordanca with the Financl•l Rwrtlng Stsndard y•ll¢ab￿ In th6 UK and Rwblio of lrnl•KI {FRS 102). (effed¥e 1 January 2019). The tharity 14 • Public Ben•fft Entlty 88 d•fir￿d by FRS 102. The f￿ancIal Ststsments are PTepared kn 8lerttrw. whlth Is the fiJn<*tho1 curr•ncy rrf the charty. Mon•t•ry omounls In these financlnl statThnts •r• rowrJ•d to th8 no￿¢ £. The financlal 8tat8ments hova b•on preparnd undw hljtorlcol o)•t c4)nwntk)n. The wlnclwl •wJrtlrYJ PDllcth adW aro lot oui 1.2 Goln9 con¢•rn At the tlme of opprovlng th8 llnBnclal Jtslemonts. trustee8 ha¥? concem8 that fe8orve8 ar8 at th ltra7 lowl of £15,855. ho¥%*v8r tho I￿￿te09 feel th81 th56 level ¢8n bt Inv￿88d In Ilno wth the pollw. ThuB th tsu8taos c¥)ntinu8 to adDPt Iho golng b8•18 ofxcountlng ￿ preporfng 1he financi018taten￿t$. 13 Ch•rltabl• lund• unTes￿rA•d fvndg are av8ilabl• for at tho dIKrnIi￿ ol tru•to8s In fUrthernn￿ of thelr th•rf*bl• Rejtrlcted fund• are 8ubloc* to w)oclfi¢ ccrtlllorfo by donorn or gr•ntor• •* to they may b• wd. Th• PUry)￿S and of lh• r•Jtrid•d funds are sot ¢)ut In tho notss to th• fkn4nd418tslemeMs. Endc*hTnqnt funds are gubject to *pecMl¢ condibl￿¥ by dMor8 that the cipbl mu8t bg malTht•lngd by tho tharty. 1 A Incom• Inern Tr8 recognisad when the ¢harlty Is Wlty ¢￿￿led to it after any perfwmance c#)nditionts have been me( the amunts can be moasured reliabty. and prthbl8 that Inccrfno will be receI￿d. Cash donaiion8 arn rec4Jgni8ed ¢>n rèe*ipt. Oth8r donations 8rf0 fecqinL8ed onc* the tharty ha8 be￿ notffjKd of ihe d(mJtr'on, unloss F*rfomiance condlUon5 requ*e dthfral of th• amount. Incorne tax reco%w*)18 In rnIBilrm to donatlony rEcet4ed under GIftAxJ OT degds of cowJnant1s recogni3ed at the tiTne of ihe donath)n. L8gad•s arè recognls•d on r•c*ipt or othen¥lse ff Iho charity has been notthed of an Impendlng dSBtdbutlon. the amount Is known. and T8￿[pt Is expected. If the amount ik not knovm, the legacy 18 treated 89 (xmtingent a8saL 11 NEW SPRINGS UK NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 A¢¢ouhllng pollcl•• IContknu•d) 1A Exp•ndltur• E%￿nditUre b rec¢gnlsed once thern Is a legal or ¢on5tructh* oblKJatM to transfer 8cA)nomic knefrt to a third party, h kl pr(l)abio that a transfer of ecorKxnic benafts will be required in settknien( and amount of the (￿lIgatIan CAn ba measu￿1 reli•Ny. Expendlure li by at#l¥ty. The CO8ts of each actlvty 8r• made up of tho totsl of dlre(* cojls arrfj hared costs, InGludlng support costs In¥•k¥•d in •JNlethirg each irtivity. Dlrorl ry)sts thbutabbo lo a slng18 artivty are ollocated direth lo that aciivty. Shoved c<6ts u)ntrlbute to mor• than one 8th¥lty and 8UPPOrt costs are not altributable to a slrvjh athty aro appcKb'oned batw0￿ th0￿ 8th1th￿ ￿ 8 basil consk%tent wlth the uBe of rnsourc48. Central Itsff costs aro allocatod on tho ba818 of lkne gpert aNI depreclatlon thorges ar? allorAted on Iho portknn oflhe 898•ts usè. 1A T•nglblo flx•d u••ts Tlngiblo fix8d Assets are initi*My measured at e<*t suts6qu•ntty mfra8urnd at or v•kn8tlon. not of d•pre¢l•tlon and any Impalmi•nt los￿. Dgprnc*atlon l* ro¢agnl••d 80 al to vtht• off the co•t or vjluatlon of a•••ts l•M thoir re8ldual th• U8•ful Ilve• ￿ thg followirKJ baJeJ'. Freehold18nd and I￿SIdIng$ FlxtVrn8 and Mngs McAorvehlc4es 100 y•ws Jtraw Ilne 5 yggrs Stralght lino 4 ￿ stralght Ine The 9oln or108s arijlng on tho dl•po881 of an as••t kn detennln•d 88 tho dIfferen￿ b8t6¥o￿ the •alp WOLTed¥ aThl tho ¢arrylng value ofth• assrt and18 rncognlgod in th• Stalem￿t of finonclal act￿ll￿. 1.7 th￿S1￿1•nt of ilx•d IM•t• At rewtiw end dato. thè charty rnViw￿ carrykng amounta of tts lar￿￿18 ass•ts to •knmikno whe1her thorn is any indicatlcm that those 0880ts have suffernd an Impaimient 108A. If guth indk*K exlst8, Iho recoverabfe arnount of the •$￿1 15 estknatsd in ordtrr to detennlne the exterrt of th• krpolmwnl 1088 (11 any). l A Ca•h arnl ¢••h •qulval•nt• Ca•h aryj equlval8nts Indud? cmh in hand. de￿11$ held at ¢911 wlth bar￿8, olhw $I￿4￿M liwld Inve8b))ents with original malurttlo9 Of thr￿ months or1g1¥, and bank overdraft•. Bank overthafts are 8lxAYn wFthln borrowings In currenl li8bilities. 1.9 FlnAn¢lal In*trum•nts Th8 tharfty has elected lo apply tho P￿￿￿On8 of Saclion 11 'Baslc Flnanclal InBtruments' and SO￿0n 12 'Other Fln8n¢lal Instrum8nts18sueg' of FRS 102 to •ll of tts financial instrum•nts. Flnanrial knstruments •re rncogni4ed In the ch4rW4 balan￿ 8h88t vthen the ch8rlty becomes paty kn the eoitraclual provi8k)n3 01 th8 In8trum8nt. Financial assets and liabiltbo8 arn offs8( whh thg net &M￿n￿ presented In tho flnand81 ststwnonts. there is a18g8lly enforfxablo r&ht to Bet off the reCO￿lSed arnounts and ther8 L8 an intention to seth8 on 8 net basls or to realis8 the asset and setue the liability slThwfianeougty. 12- NEW SPRINGS UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ounllng pollcl•• IConthiu•d) 88slc finandal assets. whith IncI￿￿e debtorn aThJ c￿h and bank balan￿8, arn Initially measured at tr￿sara￿l prk¥ Incfuding transaclion costs and we 8ubsequenty at amorfsed co¥t U51rvJ tho effe(th Inte￿t method unkngs the arrongeff*nl ccffisti1th5 0 financing transaction, vthern the transadI<￿ Is mea8ured at thè present value of the fith rnr*lpts dise(￿nted at a ma￿at rate of Intqr•8L Fknanclal a$￿ts ￿￿8￿r￿￿ Bs re￿I¥llb￿ wtlhin one year are nDtamorti58d. Baglc ffln8nci811&)Iliiies, in¢ludirKJ rxedRor3 and knk %)ans are inftialty reu•3nlsed al tr8ngodTron fv unlgjs the anngement coMtltute8 a financing tram1￿0￿. *there Iho debt inJtrument ￿ m•aJured at pres•nt va￿e of th8 fuiurn paymonts discounted at a ma￿t of FlnancAal liabllltlo8 daJ81fi06 08 pAyable wlthkn on8 year ore not amryll¥ed. D•bt In•trum•nts arn •uiwu•nty ¢arrled at Tthort*•d cort U8lng th• effo¢*￿ IntOf•St m¢thod, Trnde cr8dbtor8 are obllg•tk•n$ to p•y for good8 or thal have boén Ac4uSred In the ordlnary cffjurne of opw8Uong fnxn Bupplbrn. knounts payobb ar• dwif*d 08 wrrent11obllttkns Ir pRymenl h duv wlthkn ong year or I￿. If not. they are prgsented as non*Qfftnt thabilhkn. Trade cledknrs arè rocognSsed InIt￿lty at tr￿S1¢￿9n prlr4 and •Ub88q￿nfy moajured al amortiBed cost ualng th8 effBcUve hter•8t m•thod. Flnanclal IWIIMeB ar• darecognl8ed tho tha￿ty5 obllgRdons explre or arn dilchargod or c•￿1100. 1.10 Empl•>y•• b•n•fft• Th& ctsst of •ny Unu0￿ ttolld•y entllknnont Is wntyod In th• porbd h vthlch th• w¥lc•s arn Temlnatlon b￿￿1$ •r• r•cogn180d knmfjdlotyty u an •xpen•e tho charNy18 etynmltt•d to temlinale the empbym•nt of an employee or to provlde temln4Won bgn•fft8. 1.11 R•tlTrm•nt bvn•flts Payments to defined contribuiion rnllrem?nt bengfft 3thwne8 are tharged as an expen$8 Is fall due. Crfll¢al aecountlng Mllmal•• and Judg•m•DI• In the appllcation of th8 aca>ufthng pollGkn4 tIK Irustees arn IBqul￿d to rnake j￿eMer￿￿ 08tlmgtes And asgumpJon$ about the (arylng amount of assets and1Tr8bllMes that are not readlty apparent from olh 8ourc88. Thp estlmates and assocktsd 89suiiylions are based on hIstori￿1 expgrl8nLY and other that rn L*n¥ldered to l)0 relmnt. ActUo1 rnsuhs may d￿rtr￿n these egtknatas. Th? e5tlmatsJ and undertyinq a51￿1p￿S 8rn rniltrA*d on an ongoing ba$l8. RavraK￿8 to Acrnunthbg estwnotes rnc(W3ni¥od in the period in vthith the ostimote 15 fBMsed Whe￿ the revislon affeds only that p8rkxS. or In the perlod of the revlBlon and fityre perlodg where Ihe mision affe(*s both ￿j￿nI a￿1 fu￿re -13- NEW SPRINGS UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donatlon• •nd lffj•¢l•• fwd• fwd• Tiihes.oif8rlngs arKI don8110 Gllt akl rfjcoverzblo Lffjaclos Income 325,823 335.092 6&097 10QO(KI 384.721 50D.189 b•tsw•n: Surmlertand LoughborouBh 96.162 66.836 SC(1.189 Incom• from chArft•bl• •ctlvMI•• fund¥ 2024 fund• 2023 8und•rl•nd Churth aGtIvi 28,123 14,686 Louqhborough Churth athlb 145,810 173,733 79,468 Olh•r Incorn• Unmtrlct•d UnY••trlct•d lund• funds 2024 2023 (3rants le￿i￿d 88nk Nerest rnceivablo 10,497 257 7.257 10,745 Spllt b•twe•n: LDughborouyh 10.745 14- NEW SPRINGS UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 (Contknu•d) 15- 21 f41VirrJ￿IfIYf4tts0 o)00rf*4) > * v) loc4￿￿ QWJ IJV vJ(o¢J NEW SPRINGS UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 Support co•ts allo￿tsd to acthlu Utilit￿8 and fadliti88 Bulldlng fftp?I￿ & renewals Motor and trawl PR. d88ign, slAtion•ry 8rKI postsge Intsrngt and tolgc(YnmunlcdoM Subsryknon8 29.349 24,515 &182 3,754 7,168 1,831 20,282 10.803 5,767 5,932 74,246 55,912 An•ty••d b•tswn: Sundarland Loughbmwh 10,053 45.859 74.246 55,912 Oov•mAn¢• co•18 compr1••: 818 Tru*e exp•nM• Legal & wofvBSBonol fo•J Bank cthvges 1.110 1.429 473 2024 The nèt mo￿1)￿rt in fvnd816 8taled atsr thargW(nd￿nq).' l)¥)red#tion of ¢y*n8d tangtble fixed 8898ts 51,IY25 Iwo trustegB, are allo the key m8n4gwnent por8onnèl. recelved r￿n￿e￿Il￿ dudvwJ the yoar 88 lolkh¥s'. 2024 Rev P C V*8bYr- SuFWt Penslon t￿tr*)utIonS Rev N Salary Pen$knn 48.880 41580 &235 31.1 Ellen Loc*wood. the spL¥Jsa Oltr￿le8 EJ LodrK#)d rec*l¥ed grDBS pay 01 £32,012 In th& year. 18- NEW SPRINGS UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 10 Employw• The a¥?rage monthly nurrt)w of emph￿￿5 during the yearw88". 2024 Numb•r 2023 Numb•r employm•nt co•1• 2023 ges and ￿lar￿a SocAal aecurhy costs Other penslon 137.088 48.880 93.214 73.680 8,841 195.021 175,73S Thern no omploy8e8 annual remunwatlon w41 more than £60.CW. 11 T•xatlon The charfty [8 exempt from taXalk￿ on othltl•s b8cau80 111 ts IrKame h applkd tharkablB pu￿88&. 12 TAn9lbl• fix•d •u•ts Frn•hokl l•hd FlxNr•• and b¥lld 1111kngB v•hkl Toknl C¢)•t At 1 January 2024 Addliic 1,641529 288,508 68,S81 21.480 1.863,515 68.581 At 31 De(xwrthr 2024 1,543,529 357,(ty7 21,480 1.922.0 D•pf•clatlon •nd Impalmxnt At 1 Janu￿ 2024 Dep￿¢￿tIon charypd In lh& 65.455 14.136 204,378 33.1￿1 13.922 283.755 51.025 At 31 D8Lxmber 2024 79.591 237,459 17.730 334.780 CAnylng afflount At 31 De(￿nber 2024 1.463.938 119,628 3,750 1,587.316 At 31 DeC￿nber 2023 1.478.075 84.128 7.558 1.569.761 19- NEW SPRINGS UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 D•1 2024 Amounts f•lllng vAthln on• yHr. 0th8r debtors Prepayments and oc(wod tncryng 37220 3.741 4.456 8.519 40.961 14 Lo•M and ov•rdraft• 2023 Bonk loans 532.783 557,402 Payablo wllhin one y￿r P•yablo aft•r (w y••r 13,094 519.669 11.416 646,986 The lorvJ.tenn108n 1$ securnd on the freehokl laThl •nd bulkllng8, It Is repay8bl8 ty Inilakn•nts ovar a wlod of 28 y8arJ, £452.625 (2023.. £487.159) fall*w due •fter than fi¥0 years. 16 Cr•dlior4: •mounts fallkng du• wlthln on• y•ar 2024 Bank loarra 14 13.094 1.523 11,416 1,195 7.e70 Acuuals 8fKI detsrrwj incu 18.981 20.481 18 Cr•dltor•: amoun1• lalllng du• aft•r mor• th*n on• y•ar 2024 Bank10gn8 14 519. 545.986 17 R•tlram•nt xh•m•8 2023 D•lln•d contrlbullon sch•m•• Chwge to wofft or k>s8 In of defined ¢¢yttAthn 9.055 8.841 -20- NEW SPRINGS UK NOTE8 TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 R•urnm•￿ lJ•n•fft •¢hwn•s IConlknu•d) The tharity operates a defined contribution p8nsion stheme for all qualifying employee8. Th? assets ol Iho are ￿ld separatsly frryn Ih06e ol tho c*arity ￿ an Ir￿9p8ndenty adM￿lstar0d fund. 10 Unr••trle￿ fund• Tho unrestrithd fvnds ofthe charity c￿nPth th• Unexpw￿ balan(xryJ of donaVon8 and grants whkh arn nol 8Utlert to BP8cffic condrtlons by donors 8fKI grnntcn as to how moy be u8od. Th•so Inckxl8 d06ffjnatod funds haw boen set asld8 out of unre8trlrted by the tNst8•s for Speclllc pu￿0168. At l J*nu•ry In¢¢xnln4 R••ourc•• At31 2024 G•Mral fvrrfh 1.oe6,177 S65.711 (S68,s86) 1,083,302 Pr•vlw• ymr. At l J•nu•ry Incomlng RHourc•• At31 2023 General funds 951,275 1455.SCQ) 1.088.177 19 R•l•tsd party ban•iGtlon• All of the tsIMtèesldlrethrn of tho charty •re also In￿￿IdI￿rAarn of ProooU¥o C(MrrnJnty ErI1ea¥￿r$ (PACE> 8 c(¥npany that is Ilmw by guarantsè and bs also a tharity. Euan Lothwood. a dlrnetor of Now Sprtngs UK Is also a dlractor of K•rf Limrted. Duriry tho yur. Nv* Sprfny UK pBkl Kerf Lknlbd £8.015 {2023: £2,582) In r08pgci ol wlnt, daslgn and PR c4J&ts. New Sprlry8 UK prov1d￿ a want of £65.321 (2023.. £25,213) towds PACE'8 p•yroll. camp and fvjothonk hln Ihe year tho ch&rfty rer£wd £nll (2023 - £2.f•82> friyn PACE In respect Df ￿n[ de8bn grKI PR cos18 0Th1 £10.536 (2023 . £nlD in respect of contrbutlons ttr*8rd8 rnnt and utllrtkrys. 20 An•ty•l• of chang•• In n•t (d•btYI￿d8 At l C•gh IIM At31 D•¢•m Cash ai bank and In han 41,922 (15.826) 26.097 n8 [all￿g due wthln one yur Loans lalling due after more th•n one yew (11.416) 1545.986) (1.678) 26,317 {1&094) (519.669) 1515.480) 8,814 (506,666 -21- NEW SPRINGS UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 Ilhficltyw￿9 for the year (2.875) 128.237 Doprndallon and knpalmiBnt oftsngiblo fixed assets 51.Ir25 Mov•m•nl• In w0￿1ng c¥pltal.' Decn888 kn debtcn {DBcreaJel in crndbrj (1198) (48.543) Cuh g•n•r•t•d from op•r•tlon• 77.394 127.316