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2023-12-31-accounts

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THE NEW LIFE INTERNATIONAL MISSION

Trustees Report and Financial Statements for the year ended 31 December 2023

Charity Registration No: 1092682

THE NEW LIFE INTERNATIONAL MISSION

Trustees Report and Financial Statements for the year ended 31 December 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Charity Number 1092682 Address & Office 150 - 152 Granby Street Toxteth Liverpool L8 2US

Trustees

During the year members of the Board of Trustees were as follows:

Bishop (Dr) Panton Okon (Chair) Rev. Danny Ansong Rev. (Mrs.) S. Ojukwu Rev (Dr.) Dickson Ojukwu Rev. Theophilus Chondol Rev. Anthony Obaigbona

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Trustees Report and Financial Statements

for the year ended 31 December 2023

Contents

Page
Chairman's report 4
Trustees' report 5-9
Independent auditor's report 10
Statement of financial activities 11-12
Balance sheet 13
Notes to the financial statements 13-20

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION Trustees Report and Financial Statements for the year ended 31 December 2023

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Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Trustees Report and Financial Statements for the year ended 31 December 2023

Trustees' Annual Report

The trustees are pleased to present their annual report for the year ended 31st December 2023. The financial statements have been prepared in accordance with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: 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 published (FRS 102) (effective 1st January 2015).

Objectives and Activities

Aims

The aims of our charity are summarised as follows:-

  1. To advance the Christian faith primarily in the area of Liverpool, north of the River Mersey - for all, irrespective of colour, nationality or gender.

  2. To support missionary activity at home and abroad in accordance with our constitution in Article

III

  1. To demonstrate God's love and mercy to all and support one another in times of need.

Our objectives are set to reflect our faith and community aims. The trustees review the objectives on a regular basis ensuring they are adhered to and implemented.

We aim to provide facilities:

1. To express our love for God during our Sunday Worship services.

  1. To provide weekly Bible instruction, for children, women, men and the youth (older and younger ,youth), for education and training on right living.

  2. To organise prayer meetings to enable members to come together to seek God’s face in supplication and intercession.

  3. Training and advancement in music is encouraged. We provide a relaxed and encouraging environment for singers and instrumentalists to emerge and excel through weekly choir and music practice. This is on a voluntary basis. It is open to all.

Strategies:

  1. We have our monthly newsletter (The New Life Herald) to inform and disseminate testimonies and special activities.

  2. Networking with sister churches/organisations. We are part of the "Together For The Harvest".

  3. Tract/leaflet distribution to our community for preaching the Gospel of Jesus Christ and promoting the work of the charity

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Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Trustees Report and Financial Statements

for the year ended 31 December 2023

Trustees' Annual Report

(Cont'd)

Funding Policy

Freewill offerings, tithes (for those who wish) are collected on Sundays on a voluntary basis. Application for grants from outside bodies will be made to enhance our activities, upgrade equipment and generally create and maintain the right environment, clean, safe and comfortable for all.

Public Benefit

The Trustees are aware of the Charity Commission guidance on public benefit. The work of the charity and the funds it raises are wholly directed towards furthering the aims and objectives set out above and the trustees are therefore of the view that the charity satisfies the criteria laid down to meet the public benefit test.

ACHIEVEMENTS AND PERFORMANCE:

  1. �Donations given to the bereaved.

  2. �Outreach to residents of nearby care homes.

  3. �Missionary trip contributions.

  4. �Donations(monetary and material) to orphanages overseas.

  5. �Donation of clothing to the poor and needy through charity homes here in Liverpool.

ACTIVITIES DELIVERING PUBLIC BENEFIT:

Our charity carries out a wide range of activities in pursuance of its charitable aims. We feel that the activities listed below benefit both the community members attending the church and the wider community.

  1. �Educational Programmes on Child care.

  2. �Provision of a place of worship to which all are invited on meeting days

  3. �Provision of nutritional guidelines for members.

  4. �Emphasis on holistic health and well-being. The activities of the charity provide nourishment for the body, soul and spirit.

  5. �Support and encourage people on immigration issues, ensuring that their continued stay in the UK is legal.

  6. �Youth Club every Saturday: Investing in the lives of young people morally and spiritually, for a meaningful future.

  7. �Food banks: Donating food items to the needy and making sandwiches for the homeless people.

  8. �Providing comfort to the bereaved and attending to the vulnerable.

  9. �Demonstrating the love of Christ which promotes social cohesion and peace, thereby contributing towards a better society….

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Trustees Report and Financial Statements

for the year ended 31 December 2023

Trustees' Annual Report

(Cont'd)

Religious Activities:

Our Church provides a venue for prayers and other religious activities. The various religious activities are listed below:

  1. �Prayers: For all, Toxteth, our local community, the neighbourhood and nations.

  2. �Fasting: Bible study, choir practice.

  3. �Giving to those in need. Orphans of Martyrs in Nigeria.

  4. �Supporting one another.

  5. �Encouraging the vulnerable.

  6. �Partnership with social support for mental health problems.

  7. �Networking with other churches.

  8. �Supply food to the vulnerable in the community.

Rites and Festivals:

A. �All Christian festivals: From Epiphany (Jan. 6), to Lent, Palm Sunday, Good Friday, Easter, Ascension Day, Pentecost, right up to Christmas.

B. �Marriages

C. �Funeral services

D. �Child dedication.

E. �Baptism (Religious rites).

F. �Sunday school.

G. �Biblical and moral instruction to all.

H. �Youth group

I. �Women's group:

Donations to the Community :

Giving by church members: - Freewill offerings, Tithes and pledges

International/Missions:

  1. �Sending warm clothing jointly with other charities to northern Nigeria and Northern Syria in winter through our contacts in Lebanon and Lagos

  2. �We support people with varied needs on an individual basis.

  3. �Providing Christian training and education, at home and abroad.

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Trustees Report and Financial Statements

for the year ended 31 December 2023

Trustees' Annual Report (Cont'd)

FINANCIAL REVIEW

Total incme for the year was £49,119.40 (2022: £43119). Total expenditure for the year was £48,002, leaving a surplus for the year of £1,117.27, (2022: Surplus of £1,265)

RESERVES POLICY

It is the policy of the charity to maintain unrestricted funds, which are are free reserves at a level which will allow the charity to cover redundancy provision cost and continue its activities for three months should no further funding be received. At the end of the financial year, unrestricted funds totalled £449,269, (2022: £448,152) is represented by freehold property and General Reserve, leaving free reserves of £9,690.24, (2022: £6,881.69).

The charity requires £6,855.44 for redundancy provision and £9,636.71 for three months running costs. (Total £16,492.15). It is envisaged that reserves will increase by increased donations/offerings drive, strong control in bringing operational cost down, effective effort in seeking grants, we will be letting out available spaces to boost our income and engage in in partnership that can support our income.

RISK MANAGEMENT

The main risks to which the charity is exposed have been identified by the Trustees and systems have been put in place to mitigate those risks.

PLANS FOR THE FUTURE

  1. Engage more actively with the community around us in the task of evangelism, discipleship and communal benefit.

  2. Oganise Trust actvities in order to minimise cost of operations.

  3. Renovation of the church building, Glory House. This is ongoing.

  4. Pursue and maintain collaborative ties with other Christian organisations in the United Kingdom, especially within Liverpool.

  5. Pursue a proactive involvement in and beyond Liverpool.

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Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Trustees Report and Financial Statements for the year ended 31 December 2023

Trustees' Annual Report

(Cont'd)

STRUCTURE, GOVERNANCE AND MANAGEMENT

The New Life International Mission is a registered charity, number 1092682 formed on 28th June 2002. The Governing Document is a constitution adopted on 1st January 2003 and amended 1st January 2011.

Organisational Structure

The Board of Trustees ensures that activities undertaken by the Church are done within the legal framework stipulated by the Charity Commission.

Organisational review

The main activities of the church are twofold i.e. charitable and the use of the gospel of Jesus Christ to bless our community. The various arms of ministry are usually led by different people nominated by the church, pastors, elders, ministers and deacons.

Recruitment and Appointment of Trustees – Voluntary

Individuals with the right credentials have been approached by the Trustees. We have two additional people on the board of trustees.

Induction and Training of trustees

All new members of trustees are required to undergo the entire training programme provided for their induction into the Board of Trustees which provides a meaningful orientation on the functions of the trustees. Their training involves attending and observing a couple of meetings.

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Independent Examiner's Report to the Trustees for the year ended 31 December 2023

I report on the accounts for The New Life International Mission for the year ended 31 December 2023.

Respective responsibilities of trustees, members and examiner

As the charity members you are responsible for the preparation of the accounts: you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by The Charity Commissioners under section 43(7)(B) of the Act, whether particular matters have come to my attention.

Basis of Independent Examiner's Report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent Examiner's Statement

In connection with my examination, no matter has come to my attention:

have not been met; or

……………………………………… Date: ……………………………… Whitfield Accounting - now C WC Consultants Services Independent Examiner

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Balance Sheet as at 31 December 2023

Fixed assets
Notes
£
£
Tangible assets
4
439,579
(provision - revaluation in the year)
439,579
Current assets
Debtors
5
Cash at bank and in hand
11,491
Creditors: amounts falling
due within one year
6
(1,809)
Net current (liabilities)/assets
9,690
Net assets
449,269
The funds of the charity
Unrestricted funds:
General Reserve
51,100
Revaluation Reserve
397,052
Deficit/Surplus for the year
1,117
449,269
Total charity funds
7
449,269
Approved by the trustees on ......................... and signed on their behalf by:
2023		 £
-
9,085		 £
441,271
2022
448,152

…................................................................

Bishop (Dr) Panton Okon Chair

The notes at pages 9 to 11 form part of these accounts

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Statement of Financial Activities for the year ended 31 December 2023

Notes
Incoming and Endowments
Incoming resources from generated
funds:
Voluntary income:
Tithes Offering
2
Donations and Legacies
Rent
Other
2
Bank interest
Gift Aid
2
Total incoming resources
Resources expended
Charitable activities
Religious Works
Loan repaid
Governance costs
Total resources expended
3
Net incoming/outgoing resources
before transfers
Gross transfers between funds
Reconciliation of funds
,
Total funds brought forward
Revaluation reserve balance
Total funds carried forward		 Unrestricted
Restricted
2023
2022
funds
funds
Total
Total
£
£
£
£
37,721
-
37,721
32,863
4,800
-
4,800
4,600
-
-
2
-
2
6,596
-
6,596
5,656
49,119
-
49,119
43,119
(35,871)
-
(35,871)
(30,079)
-
-
(12,131)
-
(12,131)
(11,775)
(48,002)
(48,002)
(41,854)
1,117
-
1,117
1,265
1,117
-
1,117
1,265
448,152
-
448,152
199,835
247,052
449,269
449,269
448,152

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Notes to the financial statements for the year ended 31 December 2023

1. Accounting policies

(a) Basis of preparation

The financial statements have been prepared under the historic cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) issued in March 2005, and applicable UK Accounting Standards and the Charities Act 2011.

The financial statements have been prepared on a going concern basis that assumes that the charity will continue to receive the support of its bankers, creditors and funders.

The charity is aware of the deficit incurred and is in the process of addressing this including actions to secure more funding and implement efficiency strategies.

(b) Funds structure

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include all funds that the trustees use at their discretion, and have set aside resources for a specific purpose.

(c) Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.

(d )Resources expended

Expenditure is recognised on an actual basis as a liability is incurred. Expenditure includes any VAT which cannot fully recovered, and is reported as part of the expenditure to which it relates.

(e ) Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

(f) Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Freehold buildings 2% per annum on a straight line basis Property improvements 2% per annum on a straight line basis

(g) Taxation

The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions.

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Notes to the Financial Statements for the year ended 31 December 2023

Taxation income and gains are exempt from taxation as they are received and applied for charitable purposed only. The charity benefit from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.

2. Income and endowments from

2. Income and endowments from
Voluntary Income:
Tithes Offering
Others
Rent
Bank interest
Gift Aid
3. Total resources expended
To advance the Christian faith
and support missionary activities
in the Liverpool area and abroad
a. Analysed as follows:
Charitable activities
Staff salary costs
Church running costs
Activities
Ministry
Mission
Donations
Speaker
Equipment Hire
Support & Governance costs:
Office costs
Travel
Pension
Sundry
Insurance
Home office
Bank charges
Payroll fees
Accountancy
Depreciation
Total
Expenditure on charitable activities		 Unrestricted
funds
£
32,863
-
4,600
-
5,656		 Restricted
Total
funds
2023
£
£
-
37,721
-
-
-
4,800
2
-
6,596		 Total
2022
£
32,863
-
4,600
-
5,656
43,119 49,119 43,119
Direct
Charitable
Expenditure
£		 Support
Total
& Governance
Costs
2023
£
£
48,002		 Total
2022
£
41,854
2023
£
18,101
8,219
9,551		 2022
19,492
4,438
6,149
35,871 30,079
2023
£
1,076
1,300
-
300
9,455
12,131
48,002		 2022
£
967
1,189
-
319
9,300
11,775
41,853

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Notes to the Financial Statements
for the year ended 31 December 2023
b. Staff Costs:
Gross wages and salaries
c. Particulars of employees:
Average number of employees during the year,
was as follows:-
Charitable activities		 2023
2022
18,101
19,492
calculated on the basis of full-time equivalents,
2022
2021
£
£
2
2		 2022
19,492

The Trustees are not remunerated for their serv for the year ended 31 December 2023

No out of pocket expenses were reimbursed to Trustees in the year (2022: NIL)

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Notes to the Financial Statements for the year ended 31 December 2023

None of the trustees (or any persons connected with them) received any remuneration during the year and none of them was reimbursed expenses.

4. Tangible fixed assets
Cost
At 1 January 2023
Additions
Revfaluation
At 31 December 2023
Depreciation
At 1 January 2022
Charge for the period
At 31 December 2022
Net Book Values
At 31 December 2022
At 31 December 2022		 Freehold
Property &
Motor
Improvements
Vehicle
Total
2023
2023
2022
£
£
£
475,000
-
475,000
7,763
-
7,763
482,763
482,763
33,729
-
33,729
9,455
9,455
-
43,184
-
43,184
439,579
439,579
441,271
-
441,271

A revaluation of freehold property 150-152 Granby Street, Liverpool, L8 2US was undertaken by Griffits Thompson Partnership on 19 September 2015. The Trustees believe the value of the property as at 31 December 2019 is not materially different from the value included in the accounts.

5. Debtors

There were no debtors as at the year ended 31 December 2022 (2021: NIL)

6. Creditors: Amounts falling due within one year

Accruals 2023
2022
£
£
1,809
2204
1,809
2,204

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Notes to the Financial Statements for the year ended 31 December 2023

7. Analysis of Net Assets bet
Unrestricted Funds
General Fund
Revaluation reserve
8. Unrestricted Funds
General Fund
Revaluation reserve		 ween Funds
Tangible Fixed
Net Current
Total
Assets
Assets
£
£
£
2023
2023
2022
49,835
49,835
397,052
397,052
446,887
-
446,887
Movements in the Year
Resources
Resources at
at Beginning
End of the Year
of the Year
2022
2023
2023
£
£
£
£
49,835
1,265
51,100
1,117
1,117
397,052
-
-
397,052		 Tangible Fixed
Net Current
Total
Assets
Assets
£
£
£
2023
2023
2022
49,835
49,835
397,052
397,052
446,887
-
446,887
446,887
1,265.00
1,117
449,269

Charity No. 1092682

THE NEW LIFE INTERNATIONAL MISSION

Notes to the Financial Statements for the year ended 31 December 2023

General Fund

This fund is used to finance the charity's general activities and core costs as outlined in the Trustees' Report.

Revaluation Reserve arises from a revaluation of the charity's freehold property 150-152 Granby Street, Liverpool undertaken by the Griffiths Thompson Partnership in September 2015.

The movement on his reserve represents depreciation on the freehold property.

9. Restricted Funds

There were no restricted funds as at 31 December 2023 (2022:Nil).

10. Guarantees and Other Financial Commitments

There are no financial commitments under non-cancellable operating leases (2021: Nil)

11. Related Party Transactions

There were no material related transactions during the year which require disclosure (2021:Nil)