COMPANY REGISTRATION NUMBER: 03680002 CHARITY REGISTRATION NUMBER: 1074780 New Life Church (Suffolk) Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 JERMYN & CO ACCOUNTANTS LIMITED Chartered Accountsnts Unit 3 Hill Farm Kirby Road Kirby Bedon NOlCh Norfolk NR14 7DU
New Life Church (Suffolk) Company Limited by Guarantee Financlal Ststements Year ended 31 March 2024 Page Trustees, annual port (incorporating the director's report) Independent examine¢s report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements
New Life Church (Suffolk) Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2024 The trustees. who are also the directors for the purposes of company18N, present their report and the unaudited financial ststements of the charity for the year ended 31 March 2024. Referenc6 and admlnistratlve dets118 Registered charlty name New Life Church (Suffolk) Charlty reglstratlon number 1074780 Company regi8tratlon number 0368ChJ02 Prlnclpal offlce and ragl8terod Red Gables offlce Ipswich Road Stowmarket Suffolk IP14 1BE Tho Trustees Mr J Fenning MrSDWGinns Mr A Davies Rev. M Smith Indapondant examlner Karf Jermyn, FCA Jemiyn & Co Accountant8 Umtt8d Unit 3 Hill Fann Kirby Road Kirby Bedon Norwich Norfolk NR14 7DU
New Life Church (Sufft)Ik) Company Llmltsd by Guarantee Trustaes, Annual Report (Incorporatlng the Directorfs Report) (con11nd) Year ended 31 March 2024 Achievemonts and performance During the year we have hosted cream tea afternoons at the Scout centre as a way of connecting with the communty and prayer breakfasts on a Saturday moming to encourage people to join together to prayer for the area. In July 2023 we held our first Vmen'S conference in the Mix, Stowmarket. It was a great day with women attending from all over the area. David and Gwen Archer have now completed their Sozo healing training and have begun running Sozo sessions in our area. Family church continues to meet 8t the Scout centre every Sunday mornings including kids church. We have continued with Sunday church online, with a pre-recorded message which is set to go liv8 at 10:30am every Sunday on Youtube, Facebook & Vimeo. House of pray8r continues online via Facebook & Connect groups continues via zoom, and in person. New Ilfa care continues taking care of vulnerable and elderly peoples gardens within the communty on a fortnlghtly basls. The foodb8nk continues at Blacksmith meadow, Combs Lane. Demand for food parcels has dropped sllghtty due to support from the pop-up shop, which now operates twlce a week. W8 launched a pop- up shop to distribute end of dat81damaged stock at the Catholic church once a week. This provides additional support to those on low Sncome and reduc88 food waste. We continue look for a pemianent location for the pop-up shop. December 2023, we worked together with the local community and collected good8 and di8tributed 150 Christrnas hampers to families and individua18 in crisis. Famlly support work 18 continuing; visiting people, offerlng frlendshlp & support, both to families and individuals in and out of church. Family church & foodbank glving ha8 been continuing online through KindLink, our giving platfonn & 8180 In person. W8 sent Adrian and Joe to visit Pastor Sam and the work VK are supporting in Uganda. they visited prisons, schools and hospitals and looked at the progress of Pastor Sam Sombi's house in Busia. We have also continued with Pastors & leaders conferences via zoom in Rwanda and also a couples conference promoting marriage and talking through foundations for marriage. We have continued to support the sewing project for 15 women in Bugasard. Rwanda and launched Bugasara foodbank with Passion Alive Church. In Uganda we are supporting foodbanks In Masaka and Budaka to 8UPPOrt people in povety. Running one day conf8rence8 With Pastor Sam Sombi in different towns around Uganda to Irain Pastors and leaders of local churches on zoom. Rhyme time came to an end February 2024 after running for 17 years, during that time we had the privilege to connect with hundreds of families. We as trustees continue to look for somewher8 to buy or r8nt, for us to operate from. (Our Dream Centre) This would give us a home in the communty where could have a permanent presence and
New Life Church (Suffolk) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) (conllnu8 Year ended 31 March 2024 a place to connect with people. In February 2024 vrf8 moved the admin office to the Red Gables complex. in Stowmarket this will give us a base in the centre of town to operate from. Flnancial revlew New Lif8 Church (Suffolk) received funding from donations and grants. The total of incoming resourc85 VRS £171,075 (2023.. £183,427). Outgoing resources were £179,234 (2023: £167,960) which were spent on the management and delivery of the charity's alms. The Church made charitable donation8 during the year of £41,964 (2023.. £42,452). The total funds carried forward at th8 end of this accounting period were £240,756 down from £248,915 in the previous year. ObJ•ctlv08 and activEtles Public Banefft The provt81on of Christian church actlvtti89 for the people of Stowmarket and the surrounding area. Raising funds for distribution for charitable purposes. Running a food bank for the benefit of the local community.
New Llfe Church (Suffolk) Company Limited by Guarantee Trustsas. Annual Report (Incorporatlng the Directorfs Report) (¢onllnu•dJ Year onded 31 March 2024 Structure, govomance and management Trustees, responsibilities statement Tre charity trustees are responsibl8 for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and INales requires the charty trustees to ppare financial ststements for each year which give a true and fair view of the state of affairs of the charty arKI of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to.. Select suitable accounting policie8 and then apply them Consistent., observe the methods and principles In the applicable Charltles SORP., makejudgements and estimates that are reasonable and prudent., stste wh8th8r applicable accounting standards have been foll¢wied, subject to any material departure8 that must be disclosed and explained in the financial statements; prepare the flnanc181 stateTnents on the going concem basis unle88 it is inappropriate to presume that the charity 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 charity and to enable them to ensure that the financial statements comply wrth the Charrties Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provi8ions of the Trust deed. Th8y are also responsible for safeguarding the a&8ets of the charity and tsking reasonable steps for the prevention and dataction of fraud and other Irregularities. The trustees are SpOnsible for the maintenance and integrity of the charity and tlnanclal Informatlon included on the charity's w8b8ite in accordance with legislation in the United Kingdom goveming the preparation and dissemination of financlal statements. Small company provlslons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
New Life Church (Suffolk) Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Directotrs Report) (continugdj Year ended 31 March 2024 The trustees, annual report wa5 approved on 18 September 2024 and signed on behalf of the board of trustees by.. Rev. M Smith Trustee
New Life Church (Suffolk) Company Llmited by Guarantse Independent Examiner's Report to the Trustees of New Llfe Church (Suffolk) Year ended 31 March 2024 I report to the trustees on my examination of the financial staterrEnts of New Life Church (Suffolk) (Ihe charity,) for the year ended 31 March 2024. Responslbllltle3 and basls of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparatlon of the financial statements in accordance with the requirements of the Companies Act 2006 {'the 2006 Act.). Having satlsfied myself that th8 accounts of th6 company 8re not required to be audited under Part 16 of the 2006 Act and are eligible for independent examlnatlon, I report in respect of my examination of the 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 Acl. Ind•pond•nt •xamIne9 Statement I have completed my examination. I confirm that no matters have come lo my attention in connectlon with the examination giving me cause to believe.. accounting records were not kept In resp8Ct of the charlty as requlred by sectlon 386 of the 2006 Act., or the financial statements do not accord with those record8', C the financial statements do not Comply with the accounting requirements of section 396 of the 2006 Act oth8r than any requirement that the accounts give a 'true and fall view which is not a matter considerad as part of an Independent examination. or tha finan¢lal 8tatements have not been pr8P8red in accordance with the m8thods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come 8cros8 no other matters in connection with the 8xamination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Karl Jermyn, FCA Jermyn & Co Accountants Limited Independent Examiner Unit 3 Hill Farm Kirby Road Kirby Bedon Nonfijrych Norfoll( NR14 7DU The note8 on pages 10 to 18 forni part of these flnanclal ststsmonts.
New Life Church (Suffolk) Company Limited by Guarant88 Statsment of Financial Activitles (including income and expenditure account) Year ended 31 March 2024 2024 ReStrted funds Total fund8 Total fund8 2023 Unrestricted funds Incom• and endowments Donations and legacies Charitable activities 100,976 70,099 171,075 183,249 178 Total Income 100,976 70,099 171.075 183,427 Expenditure Expendilure on ralslng fund8: Costs of raising donations and gacies Costs of other trading activities Total expondlturo 61,498 41,790 103,288 57,439 18,507 118,937 60,297 *.620 71,340 Net Income and net mov•ment In funds (2,312) (5,847) (8,159) Reconclllatlon of funds Total funds brought for¥vard Total fund8 carrled forward 162,917 85,998 80.151 248,915 233,448 248,915 160,605 The ststement of financial activities includes all gains and108ses recogni8ed in the year. All income and expenditure derive from continuing activities.
The notes on kifP8fihElj,(h1V1lRjkl al Ststsments. Company Llmltsd by Guarantee ststement of Flnancial Activities (including incom8 and expendlture account)
New Life Church (Suffolk) Company Limited by Guarantee statement of Financial Position 31 March 2024 2024 2023 Flxed assets Tangible fixed assets 14 44,282 Current assets Debtors Cash at bank and in hand 15 12.466 196,844 13,938 212,042 Credltors: amounts falllng duewithln one yaar Net currnnt a88ets 16 12,836 11,087 214,893 Total assets less currnnt Ilabilitles 240,756 248.915 Net assets 248,915 Funds of th• ¢harty Restred funds Unrestricted funds 80,151 160,605 85,998 162,917 Total charlty funds 19 248,915 For tha year ending 31 March 2023 the charity was entttled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not requlred the company to obtaln an audit of its financial statements for the year in qu8stlon In accordance with section 478,. The directors ackn¢)wledge their rnsponsibilitie8 for complying with the requirernents of the Actwith respect to accounting records and th8 preparation of financial statements. These financial Statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 18 September 2024, and are signed on behalf of the board by.. Rev. M Smith Trustee The notes on pageg 10 to 18 fonn part of these financlal statanents.
New Life Church (Suffolk) Company Llmited by Guarantee Notes to the Financial Ststements Year ended 31 March 2024 General Informatlon The charity is a publlc benefrt entity and a private company limited by guarantee, registered in England and Wales and a regIsted charity in England and Wales. The address of the r8gistered office is Red Gables, Ipswich Road, Stowmarket, Suffolk. IP14 1 BE. Statsment of compllance These financi81 statements have been prepared in complianc8 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 Republtc of Ireland (FRS 102) (Chariti88 SORP (FRS 102)) and the Companies Act 2006. Accountlng pollclos Ba8ls of preparatlon The financial ststem8nts have been prepared on the hi8torlcal cost ba81s, 89 modified by the revaluation of certain finsnci81 assets and liabilities and investment properties measured at fair value through income or expenditure. Tha financial statements are pr8par8d in sterling, which is the functional currency of the entty. Golng concem There are no material un¢ertaintles about the charFty's abS1ity to continue. Judgemonts and key sources of 68tlmatlon uncortalnty The preparation of the financial ststements requires management to make judgement8, estimates and assumptions that affect the amounts reported. These estimates and judgements ara continually reviewed and ar8 based on experience and other factors, including expectstbjns of future events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds 68marked by the trustees for partlcular future project or commitment. Restricted funds are Subjected to restrlon$ on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub<lasses', restricted income funds or endowment funds. 10
New Life Church (Suffolk) Company Limited by Guarantee Notes to the Financial Statements (continue¢ Year ended 31 March 2024 Accountlng polkles {conthuerfJ Incomlng resources All incoming resources are included in the statement of financial activlties when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliabty measured. The following Specif policies are applied to particular categories of income= income from donations or grants 18 recognised when there is evidence of entitlernent to the gift, receipt is probable and Its amount can be measured r81iably. legacy income is recognised when receipt is probable and entttlement is established. income from donated goods 18 m8asured at the fair value of the goods unlass this is impractical to measure reliabty, in which case the value is d8rived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised wlth the dellvery of the ontracted seNice. This is claSsifd as unre8tricted funds unless there 18 a Gontractual requirement for it to be spent on a particular purpose and returned rf unspent, in which case it may be regarded 88 re8trict8d. Resourc88 expended Expenditure is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under h8adings of the statemnt of financial activities to which it relates: expendlture on raising funds includas the cost8 of all fundral8ing aGtivits'e8, events, non- charitable trading activittes, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefft of its beneficiaries. including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories refiecting the use of the resource. Direct costs attribut8ble to a single activity are allocated directly to that activity. Shared costs are apportioned between the actlvities they contribute to on a reasonable. juskn'fiable and consistent basis. Tanglbla a888ts Tangible assets are initialty recorded at Cost, and subsequently stated at cost less any accumulated depreciation and impaimient105ses. Any tangible assets Caled at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 11
New Life Church (Suffolk) Company Limlted by Guarantee Notes to the Flnanclal Statements (conOnu•dJ Year ended 31 March 2024 Accountlng policies (¢onrfnu Tanglblo assats (conllnu8dJ 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 charg8 for impaimient that has previously been recogni88d as expenditure within the statement of financlal activities. A decrease in the carrying 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 ca58 th8 loss is shown within other recognised gains and losses on the statement of financial activities. Depreclatlon Depreciation is calculated so as to write off the cost or v8luation of an asset, less its residual value, over the useful economic life of that asset 88 follows.. Short leasehold propety Motorvehic188 Equipment 10% Straht line 25°A reducing balance 15/0 reducing balan Impalrniont of flxod a8set8 A revlew for indicator8 of impairment is carried out at each reportlng date, with th8 recoverable amount being estimated wher8 such indicators exist. V*lhere the carying value exceeds the recoverable amount, the asset is 5mpalred accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing. when it is not posslble to estlmate the recoverable amount of an Indlvidual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-gener8ting unit is the smallest identifiable group of asset8 that includes the asset and generates cash Inflows that largely independent of the cash Inflows from other assets or groups of assets. For impaimient testing of goodwill, the goodwill acquired in a busines8 combination is, from the acquisllion date. allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charty are assigned to those units. Government grants Government grants are recognised at the fair value of th8 asset r8ceived or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. )ere the grant does not impose specified future perfomiance-related conditions on the reclplent, it is recognised in income when the grant proceeds are received or receivable. Ijvhere the grant does impose specified future performance-related conditions on th8 recipient, it is recognised in income only when the performance-related conditions have been met. Where grants recelved are prior to satisfying the revenue reGognition criteria, they are recognised as a liability. 12
New Life Church (Suffolk) Company Llmitsd by Guarantee Notes to the Financial Statements (conllnuedj Year ended 31 March 2024 Accounting policies (conthuedj Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recogni8ed as an asset to the extent that the Ppayrnent will lead to a reduction in future payments or a cash refund. Nhen contribLrtions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related Ser1Ge, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which tt arises. Llmltsd by guarantee The charty is a company limited by guarantee and does not have Share capital. Every member of the charty undertakes to contribute such amounts (not exceeding £10) as may be required in the event of a winding up. Donatlons and legac108 Unrestricted Funds Restrkted Totsl Funds Funds 2024 Donatlon8 Appeals and donations 100,978 65,699 166,675 Grants Grants receivable 4,400 4,400 100,976 i7i,li75 Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Appeals and donation8 107,994 65.255 173.249 Grants Grants receivable 10,000 10,000 13
New Life Church (Suffolk) Company Llmltod by Guarantee Notes to the Financial Statsments (conthuod) Year ended 31 March 2024 Charltable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 FurKIs 2023 Sales of purchased goods 178 178 Costs of ralslng donatlons and legacles Unrestrkted Funds Restricted Total Funds Funds 2024 Donations - foodbank purchage8 Wages and salaries Rent Pension costs Repairs & maintenance Insurance Motorltravel costs Telephone Other office costs Charitable donations Accountancy 16,746 34,015 3,355 16,748 34,015 8,655 2,211 434 639 2,568 801 9,227 42,664 979 5,300 2,211 182 639 821 252 1,745 297 329 700 8,898 41,964 979 118,937 Unrestricted Funds Restricted Total Funds Funds 2023 Donations - foodbank purchases Wage8 and salaries Rent Pension costs Repairs & maintenance Insurance Motorltravel costs Telephone Other office Costs Charitable donations Accountancy 7,933 18,567 3,219 7,933 18,567 8,300 1,894 3,175 1,759 8,281 5,081 1,894 2,223 1,759 4,225 547 952 4,056 318 819 1,232 1,183 43,684 979 42,452 979 59,524 14
New Life Church (Suffolk) Company Llmltsd by Guarantse Notes to the Financial Statsments (condnu Year ended 31 March 2024 Costs of other tradlng actlvlties Unrestricted Funds Restricted Total Funds Funds 2024 Wages and salaries Trustee8' remuneration Depreciation Profit on sale of red assets 6,181 33,495 2.134 6,161 11,471 9,678 (2,642} 18,507 11,812 (2,642) Unrestricted Funds Restri(*ed Total Funds Funds 2023 Wages and salaries Trustees, remuneration Depreciation 6,308 38,248 2,126 6,308 56,766 8,266 18,518 6,140 24,658 Taxatlon Tha charity is a registered charty and is therefore exempt from taxation. 10. Net Income Net income is stated after ¢hargingl{Grediting): 2024 2023 Depreciation of tangible fed assets 11,813 8,266 11. Independent •xamlnatlon foes 2024 2023 Fees payable to the independent examiner for. Indapendent examination of the financial statements 930 930 16
New Life Church (Suffolk) Company Llmlted by Guarantee Notes to the Financial Statements fcontlnuodj Year ended 31 March 2024 12. Staff costs The total staff costs and employee benefrts for the reporting period are analysed as follows: 2024 2023 Wages and salaries 85,142 81,641 Employer contributions to penSn plans 2,211 1,894 The average head count of employees during th8 year was 6 (2023.. 6>. The average number of full-tim8 8quivalent employees during the year is analysed as follows: 2024 No. 2023 No, Numberof staff No employee received employee benefits of rn0 than £60,000 during the year (2023: NII). 13. Trustee remuneratlon and expen8e8 During the year the charlty made the following transactions with trustees: Rev. Michael Smith The Tru8tee Rev. Michael Smlth recalved ramun8ration of £22,483 (2023: £21,164). During the year Mrs Hazel Smlth, the wlfe of Rev. Michael Smith received remuneration of £22,483 (2023: £21,184). Mr Adrian Davies The Trustee Mr A Davies recelved remuneratlon of £Nil (2023: £2,600). During the year Mrs Caroline Davie8. the wife of Mr Adrian Davles recelved remuneration of £19.673 (2023.. £18,518) No other trustees, nor persons conneGted with them, have received any remuneration frcm the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
New Life Church (Suffolk) Company Llmited by Guarantse Notes to the Financial Statements (¢onOnuvd) Yaar 8nd8d 31 March 2024 14. Tangible fixed assets Short leasehold propety Motor vehrcles Equipment Total Cost At 1 April 2023 Additions Disposals At 31 March 2024 2.261 32,155 23,021 (7,960) 47,216 64,221 2,409 98,637 25,431 (7,960) 116,107 Depreclatlon At 1 April 2023 Charge for the year Eliminated on disposals At 31 March 2024 2,261 17,417 8,6CQ (4,602) 21,415 44.937 3.212 64,615 11.812 (4,602) Carrylng amount At 31 March 2024 25,801 14,738 18,482 19,284 44,282 34,022 At 31 March 2023 15. Debtors 2024 2(Y23 Prepayments and accrued inccyne 12,466 13,938 16. Cr8dltors: amounts falllng duewlthln oneyear 2024 2023 Accruals and deferred income 12.836 11,087 12,836 17. Pen8lon8 and other post retlrement beneffts Doflned contrlbution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,211 (2023: £1.894). 17
New Life Church (Suffolk) Company Limited by Guarantee Notes to the Flnancial Ststements (condnu8oJ Year ended 31 March 2024 18. Analysls of charitable funds Unrestrlctsd funds At 1 April 2023 At Income Expenditure 31 Mar 20 General funds 162.917 100.976 (103,288) 160,605 At 1 April 2022 At Income Expenditure 31 Mar 2023 General funds 160,951 108,172 (1 C6,206) 162,917 Restrlcted funds At Income Expenditure 31 Mar 2024 1 April 2023 Stowmarket Food Barf( 85,998 70,099 (75,946) 80.151 At 1 April 2022 Income Expenditure 31 Mar 2023 Stowmarket Food Bank 72,947 75,255 (61,754) 85.998 18