Chrity registrtion numbtr 1097140 (England and W*ltsl NEW LIFE CHURCH (NORTH LONDON) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NEW LIFE CHURCH (NORTH LONDON) LEGAL AND ADMINISTRATIVE INFORMATION Thistets R.W. SOU¢T N.T. Wcsi G. Smith O. Onoh M. Ilond A. Clgrk¢ Chxrity numbtrlEnel*nd And Wxleg) I7140 Principal 8ddres5 19 Halion Close tA>ndon N113HQ Independ¢nt tx#mintr HB Accouniants 28 Plumplon I louse Plutnpton Road Hod(kn(k)n Hertlordshire LNI 101.11 BaDke HSBC plc 101-103 ststion Road Edgwa Middlcsex HA8 7JJ Solieitor5 2 The Square Solihull B913RB
EW LIFE CHURCH (NORTH LONDON) COINTENTS TrusiLeS' fL'rK)rt Independ1 ¢xaminerfs rwrt Siaicmcni orrinancial actLVL(ies Ilaloncc sh¢ct Notes lo th¢ financtal stslemer 8-16
NEW LIFE CHURCH (NORTH LONDON) TRUSTEES, REPORT FOR THE YEAR EIVDED.11 MARCH 2024 'I'hc tru%te&s prL%¢nt ih¢ir tinnual rt'p)rt and financial $eMentS for thc yLxrCjcd Jl March 2024. ThL ¥cLounis have been prepared in accordance with the accounting w)Iicie5 Set oul in notc l kn the accounts and comply with thL' chIly'S Irugi d¢. applieablc law and ihe requir¢ments of thc Statem¢nt of RcroTlltn¢tJdd prllec. 'Ac£ounling and R¢porting by ChJrilics' isskicd in March 2005. -I'h¢ Irust¢L% havL had duL' rL'gard 10 guidance publtshL¥I by Ihe Chariry CommissioTh on public b¢n¢fiL Objectives aDd a¢livitie5 'I'hL objccL% JrL'. l. .1 hc advancLment of Ihc Christian faith and the worship of in ihc U.K. and e15cwhere by any rncan whatsoevcr. including Ibiii not by way ol- litnitalionl the PThing atKI PmLl&motion of the Chrisiian gospel. the leaching of Chri%ti dlrinL and principlcs. the pastoral carc of Christian twplc and thc PTinling atml distTibuiion of the Biblc and Christian lilCfalurL', including video and audio recordings or ¢l¢aronically and by any oih¢r tncdia which is or may cOM¢ available. 2. ThL reliLfof rgOnS who arc in condiiions ofne&4. hardship or disirc&E. or who arc a8¢d or sick. 3. 'fhL daVLL'MLnl ofeduL41ion on ihe b&8is ofchrisiian principles and. witlK)Ut pr¢judi¢¢ to the gtrteralily ofthe loregoingy IhL pri)vi%ic)n of %ULh LduLation in any cducaiional csiabltshmcni and. if th¢ In1¢¢% so decid¢, Ihe provi%iun uf onc or MOTC haritJhlc Ldutyatiu1 Lsiablishmenis lor the gencral educ&iot) ofchildren OT adults OTh th¢ basis ofsuch Chrislian principles. Public bc'nefii 'I'hL Iruslei% huv¢ paid dut rL'gard io guidance issued by the Charity Commi55ion in 4kciding Wh activili¢% thc church should undcrtake. Achievements performance Significani aciiviiies andachievemenr.¥ agaiwl obJ1¥S Ncw Lif¢ chh INorth tA>ndonl Trusiecs Iihe Trusiees), together with the lThd¢rs. arc cntnrniltcd io ¢nablirt8 as many people po&4ible lo wor%hip at the ChurLh Services and p1¢1pate in the life of the Church. thTough attending %¢rvicc% in pcrson and through listening to the teaching Hnd downlOlnE the 1ChIng rMTrsiLXt on the Church websit¢. We actively sttk to involve as many as p)ssibl¢ in becotnTng part of our ChuTLh communily: Ihrough advcrtising and ihe promotion ofthe Church seTViCC8 in Ihe local comrnunily and yon& by lg thc inl¢mcL When planning our aciiviiies. the Church L¢ad¢T5 and the Tru51rs wnsider the Commission's guidance on public b¢n¢fit and Iht %Lif1L 8uidancL on chariiies for the wjvancemenl ofreligion. the ¥lvaTwzmerti of ducation and thc preveniion or relief of tK)vtrty. Thi Lhurrh ha5 wnlinu¢d 10 operate &8-The Church in StTect- with SuTyJay Tn¢¢lings held th¢ building ai 21 Bsett %trLct. NW5 41?G. I'his has ronlinucd 10 provide a S[lFie geographical focu5 to the church's outreach. Church mLiings have bccn held at IU..(MJAM and 12..00PM ch Sunday Lxeepi during some h)liday Ftri(yJs where a singl¢ I I..00AM %etviec has bLeii hLld. During ihe lir%1 rn¢¢ling cla5s¢% ar h¢ld for pre-sch(MJl aThl Primary school aged childrcn. In thc seTh)nd %L'rvicc cI&qsL¥ drc held for sLxondary and sixth fomi age young pwplG Thi$ t¢n nLxcssary due to the limiied space in the building We continue lo ¢njoy b¢iDg part of Ihe Relaiional Mission IRMI farrbily of churche5. O¥ the year the tnan%c al 70 Maldcn Road. which is owned by the Iru51, k¢n Iistd 10 RM to provide a tA)ndon home for Mike and Su¢ Betts and thus Support Ihcir work and hclp Ihcm build on their rclalion%hi]xs wtth othtT Lhurch Ic&lcrs and influencers in Ihc capital. DLiring IhL year janL Wiln sicpped down as a'lruslec. Jan has Ix%n a Trusice sinL the Trusi was sa up and for n)any Y trLL%ufL'r. Jan s %LfvicL' in (his rolc for the 'l'ru51 ha5 tkxn grcaily apprtciaied. Drtw Clarke took on ihe role of Ir¢u5ufcT when he waE apin1¢d as a trusiec in DecLrynr 2022. A¢hievtments And Ptrfoman¢e wor.whip ThL' %iiftdry rnLelin&% ¢ontinue 10 Ihc main gathering5 for the wholc churth. T¢ching coniinues io rteordcd and 15 avuilJble to dowDloud all¢r Ih¢' tntt*lings for ihose wlM> may have mi55ed Ihc thIng or wish lo lislen again.
NEW LIFE CHURCH (INORTH LONDON) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 lèachin l)uring Ihc Sunday rnccling5 we have a Christian tcaching ministry for Ihosc prcsenL Ihis Iwhing is also availablL r()r PLople Irom across the world who visit Ihe Cthufch websit¢ io lisieTh to ihe leaching or access (he Tesources wsled ihcrc. In Ihis way the mtnisiry ol'the Church is exicndcd io a much larger audien -IL'Jchirtg subjtLIS (X>YLfLd during ihL' ytrJr includcd topi1 tkS on thc and WtsTk of tht 14oly SpiriL Ihc parables of J¢8us, thi jvumey io Bcthlih¢Tn lin Ihc run up to Christsnas). Thc New Ycar with a scri¢s un pray¢r and in Ihc run up lo fw8lcT 2024, JL%us' joumey lo the cr05 ljrayer l?ublic prayer tncclin&s are an imporiant pan of what we do. The purrA)se of Ihcs¢ prayer meetings ha5 bn primaTily ¢0 pray lor Ihc work ol'the Church, bui also for North Lon(h)n and for widcr issuts affecting ihc wlK>lc nation and Wond. PrayL'r mLLting% lake place weekly during Icrm-lime on TesdaY evenings and Friday momijw &% well as a prL'.mce(ing Prayer limi a.Sunday tnomin inLc January 2024 we have a150 met monthly with oih¢T churche5 in the RM family to pray ¢0g¢th¢r for the SPading ofGod's kingdom acro.K% North IA)ndon. l)asioral C(we Diiring Ihc year more communiiy groups have been e51ablished so those who wtsh can atiend smaller group me¢tiD&%. Mosi ofihcse groups focus on a gcogrdphil an ofkn)n(h)n 'rhL' ¢hildren arL' Lrd for by ih¢ children's workers in th¢ age-slf1¢ childrL'n'S gN)ups. Additionally. we have smalleT -connect- gTOUP5 also cled -Running Partner5- where Iwo or three tnetnberE of thc church could meet more informally for pray¢T and ¢ncouTagernenL Mission ¢Tndl:-vangelism We encoiirage each rn¢mt¢r io be involved in rTnal mission and evangeltsm. We have two youth group5, Catering ftsr dillcrcni agcs, wilh IhL objLYtive ofieaching Ihc Christian mcssage and presenting ihc claims ofJesus Christ io young peoplc in a way thai is relevant to Iheir inierests and Lwuipping them nxh others. W¢ w()rk with %upw>rt a lo[ Foodbank proj¢d whith is rm by Revclaiion Churdj and provid¢5 f< pa]wls for ihe PQKire%l m¢mirr4 ol-thc local cotnrnunily. 'I'hc Church is also a member ot-th¢ Lvangelical AllIar ofchurche5 in th¢ U.K. l.iiilL' Gems In IhL Auiumn of 2023, a mCMtr of1 church with exie1ve experiencc in njnning pre-sclMM)I groups for Children barn¢ available on a part-limL ba%is. This led 10 the geiting up ora parcnt aNI ioddler gr0p meeting a week in ihe Bassclt Street buildinby t)n J I'hur%dJ)' JlliYn()un. I his IL. upw)rtunil)' tu pruvidL' J SUPtx)rt SLn'iLL' lu litniliL'% ul" prL-SLliool child in thc area. As a T&8uIt ofthis group a nutnbcrof rw >Ple have join¢d th¢ chulL Parrnership wilh Rhema Faiih Church in Ndola. /A7mbio In Junc 2023 wc joincd with oihcr RM churches tn sending a team to Rhema faith ChuTeh in Ndola. 7ambia 10 support young Ihurch leadL in training and mcnioring. This involv¢Jl one ofthc B&8seii Sireci church Icaders going 10 Zambia io help with tLtiihing al a L(Inl¢T¢nC¢. This Padrrship 8]so irtvolvd kirtg involved in on-line training for young el(kr% and an on-line marri1ge preparation course. Chrisiiurt¥A£dirt¥i Poverty (CAP) 'rhL' Trust Li)niinui% tc) %upwrt IhL work ofcAP in CamdLm by srM)nwring a part-iime workcr for ihe charity. A rtw mcinbers of IhL church al40 vuluntccr with CAP. A ftw wple haYL' thiiendcd ehuTch events. includingAlpha and a Community GTOUP Irom ('.Al> 'l'hc church provideE volunlccrs who work with th¢ local fi)odbank.
NEW LIFE CHURCH (NORTH LONDON) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR EJVDED 31 MARCH 2024 and Ra¥emenl rial ai 70 Malden Roud As noied aknvL. fmtn April 2023 IhL Manst ai 70 Maldtn Road h&$ let io RM at a hcavily subsidised rcnl. This h cndbled RM lo use thi% hotnc in l.undnn for Mikc and S, BL1t% io siJprM)rt thcir incrIng work willi oihcr chur¢hc% and ltradcrs. Thi ba%Lmini tlai is curycnlly Ict to two mLYntrm of the church on a Tent level that is c105¢ lo a tnarkct renL Works io ihe Church Works lo Ihc chuTch have conlinutd in 23r24. incluLk wotks on ihc security sysiem for th¢ church to &%%isl with 8aliguarding and work5 to cnhance ihc firc alartn systcrn Jnd firc safLLy. SomL' works have Fttn led oul lo repair rooficak% OVLr ihc kiichen. rurihL'r wurk is rcquircd, and Ihis is CurrllY budgaed for in the set asid¢ for this. These include further repairs to r()uf%, r¢plac¢mLrti. or relurbishmcni ofwindows cie. Some cracking h&s bc¢n ed in I1 building and this is Ing pursued through insur¢TS as this could be due to subsidencc. Fin#ncil review l)onation% and gill% tO8tihtr with ihe rclaied Gift Aid dccrca8cd £167.953 from £187.650. IASI year a gill of£50.orx> was rcceived Irom Kcnti%h Town Ev&n8L'lical Church. ExrMses have incre&s¢d lo £194.569 from £178.130. Included arc grants paid which increased from £8.604 to £19,630 largely duc lo hanlship fund gifts. OvLrnll, th¢ wa% a rtei deficit for IhL year of£7.196 cOmped with a suwplus l&Et year of £72.539. 'lolal fund% at the year cnd arc £2.729.108. The balarC Set Tematns sirong with cash at bank and in hand being £144.320 as compared wilh £189.582 last year. li is down a% thrtc yeats Eift aid claims king done as optM)5ed lo two Il year. bL'ing £71,673 vcrsus £45.181 la5ty¢aT. Rg.verve$poltcy It is IhL policy ol'ih¢ church that UnT¢Striclcd funds whith have tren desi1¢ for a srttifie use Should bc mainlainixl at a Icvel cquivalcnt 10 bctwccn thTCC and six monih'% ¢Xdi1UrL'. The trusiLYS Wrt8idcr ihai rcserves at this level will ¢nsur¢ thai, in the LvLni ol. a signilicani drop in furlg. they will able lo (x)ntirtue the church's currcni 8aiviiies whilc consideration is giv¢n io ways in which addttional fund5 may k rn15. Thi5 level OrrTV¢S hLs ttn mAtriMed Ihroughoul ihc y¢8r. Gram Making ljolicy -Thc I'rusl 18 primarily focused on provi(ling %Lrvius in accordance wilh Ihc obje£ts ofthe Trust. li u5e5 a STnall propoTtion of ils incomc to mdkL grants. A small number of gTrnLs arc ]nadt trach ytrdr. in aLX7)rdancc with (he objccts of thc irust. The Iru%iLes will LO%7dLr rLqIlS for grants by IJ1vidual$ OT organi5aliorLS th have the same objects &$ ihe TnJsL and which complem¢ni IhL %¥rvi¥L% t)IlirLd bj IhL Iru%t. MajLir ris 'lTh¢ Iru%tc&4 have IhL major risks 10 which Ihe church is ex]x)5d. and are satisfied that systems in placc to mitigate exSUre to the major T15k5. Strutturei govtrn#ntt Ind minagement Thc church w&8 estsblished by a charilabl¢ tr%[ deeil on 10 Febrwy 21MJ3. 'I'hc tru51¢¢s who S¢Tvcd during ih¥ ytrdr and up 10 th¢ date ors1grtur¢ of the finan¢io1 stsi¢m¢nLs we]t: 11.W. S()u%r N."r. Wtst G. Smith O. ()noh M. Ili)nd A. C liirke
NEW LIFE CHURCH (NORTH LONDON) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Recruiimenl onduppoinlmenl ofiruslees A% ptI ol. Ihc Risk Asscssmcni Annual Rcvicw. Ihc TnLSittS nSIder iftheTe are Sule1cnt Trusices for thc work of thi Trusi and if IhL necds ol. Ihc Trust maich ihc skill Profile of the currcni Trusiees. Ifihc I"rusiecs feel Ihe nced to appoinl addiliunal Tru%t¢c% thL'll ihL pri)Lts% of seeking additional TrsIc&S 15 Comrnet£%l. ThtTL aTe additional r¢%)sons why this proc£ss may slartcd.. il. thi numlx'r ofTnL%lccs falls I.[OW a workable l¢v¢l, or if Trusius kbL¥)me aware. ai any lime Ihai the 'lrust ]% lacking 50tnconL with skills nol r¢pre5¢nl¢d wnongst thc CU¢1 TnLEI¢o. Onie the 'lru%t¢c% TognIse the de5irabilily lo seek one or mor¢ addiiional I rusltt5. then a procedure is initiated whtrL' Ihc ChurLh riders work in concert wilh Ihc TrustcLs lo seek 10 recruii aNJ aPin1 a suitable personlsl. The Iruslccs fir41 conduii a %kill tiudil ol. Ihe range of skills present amongsi Ihc ellrrcnt Tnjsiccs 10 idcniify wheTC dcsirdblc skills may noi bc currently prL%cnt. ThL TrusiLL% algo totkluLI a divLrsily and rtprtsenthiion anYSiS &8Stss whai cxtent Ihe currcni Trustees rcflect the diver%ity pr(SLnl within Ihc ChUh. A combinalion of tho%c Iwo drivcrs will 10 o profile which is io &ssisi in ihe search ror %uilablc ncw Tru%tLT& Unce a suitable candidate lor candida51 ha5 been idcniified. th¢y are asked ifth¢y would consider becotning a Tru%tee. during which proccss the Resronsibililies and Duties of a-frusiee arc explain¢d. togcther with an explanation of the'l ru81 D¢Ld and a opportunity to read ihe minuies ofrecet)I Injsi mttiings. Dependingon Ihc experience of the candidate th¢y rnay be offcrcd the opportunily 10 sil in on somc Trusi mcciings or 10 atiend as an obscryer for a period before (h¢y are ablc to makc a d¢ci%ion. WhLn ti LthdidaiL accepts IhL invilttlion ofbccoming a Trusice. Ihcy arc apr)In1 in wriiing 10 SeTVC for thc period specificd in the I'ru%t DLLd. 'fhe procL% of irtduciion is iailortd 10 the P[evi0% exwence of the ncw Tntsie£ as is the training of new Tru4lcc%. Rradin8 will rccotnrncndcd and suitabl¢ courscs row. Currently thc tnakc-up of thc Irus¢e¢5 i% wnsidcral 5atisfaclory. OrATufifs(IliL>n¢41sirueiiire 'I'hc tru51ces rnect regularly and oversee the dItiOn and manag¢ the running rhurrh. 'lThe Irii%tee%' rert was approved by the B(wd ofTru51ffs. R.W. SDu%ILr Trvstee l)ate:
NEW LIFE CHURCH (INORTH LONDON) INDEPENDENT F.XAMINER'S REPORT TO THE TRUSTEES OF NEW LIFE CHURCH INORTH LONDON) I rcwrt lo Ihc ITU%tccs on my cxamination of the fi[)¢13] SteMents ofNew Life Church (North IA)ndonl Ithe church} for the year Lnded 31 March 2024. Rosponsibilities #thd bsi5 of rnport As IhL Irusiccs ol- thc Lhurch you are TrmsIble for the preparntion of the financial sthiemctjts in accordanc¢ with th¢ rLNuifL'mLnis ol'ihe Charities Act 2011. I retN)rt in Tc8¢1 of my ¢xamination of church's fi¢la1 emenL8 &qrried out Und section 145 of the ChIlLs Act 2011. In carrying out tny cxatninaiion I have follow¢d Ihc Dirtttions given by thc Chariiy Commission under se£tioD 145151(b) ofihc Lhariiies Act 201 Indepedent exminer's ststemeni Your iltluniion is drnwn lo thc lact that the charity h&5 Frtwred the financial %(aitmcnts in accordance with the relevant ver%ion ol- IhL Sialcmcni of Rcoirnmcndcd Praclicc applicablc lo chari¢i&E prqiaring thciT fInela1 staiements in accordance with thc rin1LIa[ Rcrorting Standard applicable in the UK and Republic of IrelwKi IfRS 102} in PTLfLrenee to ihe Accounting and Reporiing by Chariiies.. Siaicment of Recommended Practice i&Eucd on l April 21>05 whiLh is [Cr[ed io in Ihc CKtanl rLgulaiions bui h&q now tr¢n withdrawn. l undersLqfbd lh& thi5 has been dorr in ordcr for financial stst¢m¢nts 10 provide a IruL' and l&ir view in accordanLe with UK Gcnerally Aeccpicd Accounting Practice. I havc complcted rny exaTnination. l )nfIrM that mau¢rs havc come my tenti0ft in connection wilh the exatninatiort giving me causc lo believe that in any material TrI= accounting rccord% W¢ noi k¢pl in rtswci chutch &% lTed by section 130 ofthe Charities Act 2011. IhL financial staicmcnis do noi accord with those records.. OT Ihc linancial sialemenls do not comply with the applirnble rqUIrCnts' Lonceming the fojyn and conient of financial staicmcnis sci out in ihe Charilies IAccounts and R¢w)rtsl Regulations 28 other ih3n any rrquiment that Ihc financial %taiLmLni% givc a Irue and lair view. which is rM>I a matlcr con5ider¢d as pan of an indqKnd¢nl cxatninatign. I have no conc¢rn5 havc rom¢ acro%% no oihcr mailers in conneciton wilh the examlnalion lo which attention Should drnwn in thi5 report in ordcr to enabl¢ a prgtv und¢LdIng financial s[ements 10 be reached. HB Attoiintxnts 281)lumpton I louse l)lutnplon Road Fl()ddL%dun l.lertlord4hirc t)ai¢'.
NEW LIFE CHURCH (NORTH LOIYDON) STATEMF.NT OF FINANCIALACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR EJVDED 31 MARCH 2024 Uthrtstritttd funds 2024 Restricted funds 2024 Total Unrestricted funds 2023 Rtstrieted funds 2023 Tot81 2024 2023 Note5 Incomt from: l)onillions and ILgacie5 Charilablc activiti¢5 InvcslmcnLs 13R,R69 18,618 802 29.084 167.953 18.618 802 218.610 12.677 342 19,040 237.650 12.677 342 Tot*1 ithtomt 158,289 29.084 187.373 231,629 19,040 250,669 "xpenditure on.. ChJriiablL &liviiies 164,167 30.402 194.569 l(pl,386 13,744 178,130 Total expendi¢urt 164.167 30.402 194,569 164.386 13,744 178,130 Ntt ithtomelltxpend1tuI Ind movemcnt in funds 15,8781 IlJ18) {7.196} 67.243 5,296 72.539 Reconciligtion of funds.. FutKi bttlancL at l April 2023 2.717.396 18.908 2.736J(M 2.650.153 13.612 2,663.765 Fund balances at 31 M¥reh 2024 2,711.518 17.5 2.729.108 2.717.396 18.908 2,7.76.304 'IhL slalcmcnt or rinanci31 artiyilits includts all gains and 1055es recogni5 in the ytw. All in¢om¢ and ¢xptndilure derive Irom continuing &ctiYitic&
NEW LIFE CHURCH (NORTH LONDON) BALANCE SHEET ASA TJI MARCH 2024 2024 2023 Note5 Fixt(l #ssels -langible assets 12 2,5U9.811 2,505.092 Current Assets l)cbiors Cash al bank aTrd in hand 80.250 144.320 51,310 189.582 224.570 240,892 Creditors.. amounts falling due within one yeAr 14 15.2731 19,6801 N¢t currLllt 219.297 231.212 Tot41 *sstts less current lilbilities 2.729.108 2,736,304 Ineome funds 16 17.590 2.711.518 18,908 2.717,396 UnTL%lri¥%id funds 2.729.108 2.736.304 'lthc iicLounis w¢rL approvcd by the Tnjsteeson........... 11.W. Suu5tcr Trustee
NEW LIFE CHURCH (NORTH LONDON)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Attounting policies
Charity information
NL'IV Lili Church INorth tA>ndonl is a TnLSL
1.1 Aecounttng convtntioD
'I'hL aLiu)unl% hdvL' k'L'n prLP2rL'd in aLtXlTdancc with the chr¢h'S (ntsi dccd. the Chariiics Aa 2011 and"Accounting and
Ritx)ning hy Charilics.. Sialcmcnl of Rccommcndd Prnctitt applicable io charitics prcparing their account% i
accordance with the finala1 R¢FK)rting %tsndard applicthlc in ihe IJK RcpubliL of Irtland (FR$ 1021" las aiiicnded
lor accounting peTiods comrncncing from l Janwy 20161. The churth is a Publir Bcn¢fit Eniity as defJn¢d by l--RS 102.
ThL church has taken advanthge of the provisions in the SORP for chaTitie5 applying l.'tts 102 Utthte Rullctin I nol 10
prL'P(IrL d Siiiiemeni of Cash l.'lows.
I'hL finunLia] stslLrnlts havL' dLPJrtL from thL Charilits {AcLM)unts and RcrK)rts} Rcgulations 2wg only lo thc ¢xl¢nt
required to PTovidc 3 Iruc and fair vicw. This dcparturc involvLxI followinE the Siaicmcni of Rcc4)mmcnded l)rnctice
ror charli1c. applying l.'R% 102 rather than thc vcrsion of the 8Cment of Recommended l¥aaicc whieh is referred to in
thc Rcgulations bul which ha5 since been wiihdrdwn.
ThL finanLial StslLmcnis are prepared in er]in& which is ihe funclional currery of Ihc church. Monctary Omourt in
Ih¢%c fin¢]1 slJltmenis are rounded (o the nL
NEW LIFE CHURCH (NORTH LONDON) NOTF.S TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Attounting policies l¢ontinuedl 1.6 T#thEible rtxed Assets -lÉiiigiblL lix¢d 4?ssei% are iniiially measured cost and sulksqucntly m¢asured s1 or valuaiion. nel of d¢pr¢Giolion and any imroinneni los DeprLLiaiion is recognised so as to write off the co or vVation of assets less iheir rcsidua] valucs over Iheir wseful livLs on IhL following bases.. LIL nd and buildings MansL CqUiPTD¢nl chUh LquiptnLni 33•A rjing balance 33Vo rcductng balance ThL gdin or loss artsing on t dis$al of an assd is ddermined the diff¢rcn(r b¢IWt the sale proccd5 and the arryinu valuL ofihL &%SLL and is rewgniscd in ihc staiement orrinancial activitie5. 1.7 Impiment of fixed ssstts Ai LJLh rLryx)rting end dale. the church TeYicwE thc wrying amounts of its iangible assets io detemiine whether thcrL' 1% any indicaiion Ihai ihosc assets have suffered an impaiTtncnt 10&s. Ifany such indicaiion exisL8. Ihc reLU)vwable arnounl or IhL L%SCI is Lstimaied in order io dfflem)ine ik cxient of thc itnpairtn¢nl lo&% lifarty). 1.8 C*sh ¢Ash tquivAltn15 Ciish aiid cash cquivalcnts include cash in hand. dep)sits held call with banks. oiher short-lemi liquid inv(simcnis with original maiuriiies of Ihrtr month5 or and iwth oveJdrafts. Bank overdrdtL8 are shown within trf)rrowin¥s in 1.9 Finaneigt instrunjents 'FhL Lhurch haq LILYtcd io apply the provt5iolls of Section I I 'B&4it Firn¢la[ Insiruments. and Se10n 12 '(hh¢r inancial Instrumcnis Issucs. ofJ.'RS 102 10 all ofits finwjcial in51WTn¢nts. riDanrial in%trutncnt5 aTL' retognised in Ihe church's balance sh¢¢t wheD the churth Iw)mc5 Party io thc contractual provisionE of thc instrutnLnL I,tnancial assets and liabilitieE ar¢ otT.se( with amounts PTescnied in the fir¢1] statemcnts. whLn Iherc is a ILgally enlorccablc right lo scl off ihc rw>gniscd amounts and Ihcrc is an inienlion lo sctilc on a basis OT tu rtalise IhL assLi and seiile Ihc liability sirnulthnu)u51y. Rn.¥Ec BlL linanLial &%gLl%. which include dcbioTr and rn%h and bank bant£s. arc initially measured ai iransadion prico including IrJn%tiLlii>n costs and arc subscqucnily carricd al atnortiE¢d cos1 using the etTeciivL inicrtsi mcihod unlcss thc arrangLtnLnt rDtkslilulC¥ a financing iran&%iion. where the tTnlOn is turl the PTeseni valuL ol. the fulurc receipts discounlcd al a markei rate of inieresi. 1.inar1al assets cl&ssifi¢d as reccivablc wiihin onL ycar are not amortised.
NEW LIFE CHURCH (NORTH LONDON) NOTFS TO THE FINANCIAL STATF.MENTS (CONTINUF.D) FOR THE YEAR ENDED 31 MARCH 2024 Attounting policies (continued) Btss1c[itt&nciallib1lI1leS Il%ib IITiancial liabililiLS. including crediiots and bank loans are iniiially rccognised at transaclion price uDl¢88 thL arrangLmLni consiiiiitts a linancing iyansathion. wye ihc insirumcni is measured ai the Present valuc of Ihc future payments discounicd ai a markei raie of inteTesi. financial liabilities c1&8sified as payablc wiihin one year arc not amortised. t)L'bi in%trutn¢nlx ar¢ %ub%¢yu¢nily carricd at OrtiSed using thc cff¢rlivc inl¢rcsi rni¢ mLth()d. 'lindc crcditor5 arc obligalions to pay for giK>ds or services that have been acquird in the OTditwy coursc ofotLralions Irom suppliers. Amounts payable arc classified &8 eurreni liabiliiies if payment is due within one year or I5. If rK)I, thcy arL prcsLniLd &8 Mn-currcnt liabtlilits. Tradc creditors are rceogniscd iniiially ai Iransaaion pricc and subscqucntly mL&surcd ai amonised cost using effttiiye inieresi methl. DerecoxnilioK offi0Cl&llbI1l1eS FindnLidl liabili11 arc dereLxignisLxi when ehurch's LY>nirac14Ja] obligations expire orarc discharged or cancelled. 1.10 Emi>loyee benefit5 I'hL (x>sI ol.Y unusLd holiday tntiilemeni is rt08niscd in thc in which the employec's serviccs are received. Tirtninatiun tK'ntfils aTL' rtci)gnised imtncdiatLly as an eXnSe when the churth is demonstrably LM)mMit1 io Icrminate thc Lrnplc)ymLnt of an employee or lo provid¢ Itrmitialion nefIts. 1.1 l Retrment benefits l>aymt'nt% lo dcfiDLd wnlri1¢i0 retirement nefIt Echctn¢5 arc rhargcd as an eXDc they fall duc. Criti¢l A¢¢outJting tstimates nd judgtmtnts In IhL appliLation tsf IhL church's la)untIng rx)licies ihe Irusiets arc required (o makc judgcmcnts, cslimaies and &ssutnptiun% thc carrying amoutil Of and liabilitits lh art tK>I Te*lily appareni f]Y)m uihcr sources. 'Ihe cstiTnatLS and a%%nriatcd &kSUTnplion% arc hisiorid eX[let and othLY facts ihai &rL' considcrcd lo E¢ relLvunt. Actual r&sulL% may (lilTer from ih¢>c csts]niilcs. 'I'he estimates and underlying assumptions aTe reviewed on ongoing basi5. Revisions to accounting c%titnattt are reLognisL in thc pcriod in which th¢ csiimaic is rcviscd where ihe revision affects only th Tiod, or in thc period or IhL revision and future wriods WIre thc revision affects h>ih current and fuiure wiods. In¢om¢ i1onalln8 and leg¥ci Unrtstricttd funds 2024 Restricted fund5 2024 Totxl Unrestricted funds 2023 Rtstricttd runds 2023 Totsl 2024 2023 Donations and git18 (jill Aid Other gifL% 116.094 22.775 25.427 3.657 141.521 20,432 145.980 22,030 50,(MM) 16,785 2,255 162.765 24,885 50,000 138.869 29.084 167.953 218,610 19.040 237,C)S0 10-
NEW LIFE CHURCH (NORTH LONDON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YE4R ENDED 31 MARCH 2024 Ch4ritAble activilies 2024 2023 Children and yuuth eYLnts and aciivilics Renis reecived 3,853 14.765 5,139 7.538 18.618 12,677 IDve4tmonts 2024 2023 Interest receivable 802 342
NEW LIFE CHURCH (NORTH LONDON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 xpenditure ch8ritable activities 2024 2023 Siall'costS l)cprcciation JrHt impairtn¢nl l.ight, h¢iil and WalLr RLpaits and r¢n¢wals Caicring and events Printing. sialionery and telephone 84.585 4,832 6,799 18.130 2.744 1,224 6,403 2,458 74.067 3.160 5.941 28,755 4.425 5,785 Slornge Children and youth Training Ou(rh Wehsite and compuÈ¢r cxtrnxs CAP dL'bi LLnirL Luniribulion Siindry LxrLnses Legal and protessional fee5 Clcaning 2,496 16.640 705 7.963 5.495 19.753 3.240 9.972 2.701 1,800 1.957 3,893 3.840 2,834 171.699 167.126 Groni funding ofadiyilics Is¢¢ noi¢ 7) 19.630 Share of support and governgnc¢ costs Is¢¢ not¢ 81 Govem?nrc 3,240 2,400 194,569 178,130 Analysis by fund lJnrL'4lriLtLYI lund% Resirieied funds 164.167 30.402 164.386 13.744 194.$69 17A.Iln 12-
NEW LIFE CHURCH (NORTH LONDON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 GvAnts pAyable 2024 2023 Gtani8 10 insi11lOn$'. Qiood Ncws C.ru.sadc iTOVC Pulish LighthousL.' Ukraine 240 240 500 5,900 240 6,640 Grants io individuals 19.390 1,964 19,630 8.604 Support costs Support Costs Govtrn#ntt 2024 2023 B8si5 of alloc•tion Accouniancy 3.240 3240 2.4(M> &)vcrnance 3.240 3240 Analy%Ld k'iwLL'n Charilablc activitie5 3240 3.240 Trustee5 Onc of ihc IrusiLfS, N.T. WCSL receiv mUnerali0 during YLYT of£39.562 (2023.. £41.2321. No LPenseS werL' paid io Injslecs in knth this year and lasl year. 13-
NEW LIFE CHURCH (NORTH LONDON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EJVDED 31 MARCH 2024 10 Ernploytes Number of employee5 'I'hL £ivLfJ8L' tnunihly numk'rofLmployccs during thc ycar w&¥= 2024 Number 2023 Number ChildrL'nlyouth workers 0ratIOnS and admin Community group5 5LlPW)rt Employment Costs 2024 2023 WabYL'% and salktri Social %Lcuriiy cosis Other pcn5ion c05L 83283 138 1.164 72.389 357 84,585 74,067 Thir¢ WLrc rK) tmployces whosc annual TeMuratIOn wa5 £60.000 or mor¢ TAxalio The charity is exempt from laxation on IL% artiviti¢s all IL8 iftHne is applied for charitable purrK>Ks. 12 Tangiblt fixed assets Chr¢I Tot*1 ¢qwiprn¢nf Cost 2,5(MJ.(MM) 2.514.166 9.551 Additigns 4.416 5,135 Ai 31 March 2024 2.5(M).I 4.416 19.301 2,523.717 Deprttiation impairment Ai l April 2021 tk'priLiation ¢harged in ihc year 9.074 3.374 9,074 4.832 1.458 At 31 March 2024 1,458 12.448 13.906 Carrying amount At 31 Marrh 2024 2.51X>.000 2,958 6,853 2,509,811 At 31 March 2023 2.5.000 5.092 2.505,092 14-
NEW LIFE CHURCH (NORTH LONDON) NOTFS T() THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Debttsr¥ 2024 2023 Amount5 falling due within one year. OihLr dLbiors PrLpaymcnLs and accrued incorne 71.673 8,577 45,181 6.129 80.250 51,310 14 Creditors: arnoynts falling due within one year 2024 2023 Othcr l&Yalion lwd wial CUritY OthLr LrLdiiors Accruals and deferred income 1.927 257 3,089 1.484 240 7.956 5,273 9.680 15 Retirement benefit schemes 2024 2023 Defined contribution $rh¢mes ch¢ 10 prolii or loss in respeci ofdefined >ntributIOn scheme5 lJ21 The church orthies a defined coniribthion [slon scheme for all qualifying employ¢es. 'lThe assets of thc %hcTDC hLld Lpal[Y from those of ihe chuieh in an IndennI]Y *lministrred rd. 16 Restricted fund5 ThL fLgiricthd funds of IhL chariiy comprise rxtndCd balanccs of th>natiorL8 and grdnts h¢ld on trust subject lo spcLific conditions bv (k)nO 10 IK>w they may . At I ,Ipril 2023 Rcsourcc5 eipend¢d 2024 OvLr%L"ds mi%%iuns ChildrLn and youth I lardship lund OthcT gi115 1.3J3 17.575 1.340 8.175 18.569 12.0851 (lo,2) 116.4151 (i.Ix)01 588 14.848 2,154 18.908 29.084 {3(>,4021 17.590 15-
INEW LIFE CHURCH (NORTH LONDON) NOTES TO THF. FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Restri¢tod funds Ittsthtinuedl Previous year: At l April 2022 Incoming Iysourees Rcsowr¢¢s At 31 Mirch expeDded 2023 OYLrseas missions Child and youth Othir gTIIs' 2.823 10.245 544 4,41U 14.630 15,9W) 17.3<11) 15441 1,333 17,575 13.612 19.040 {13,744) 18,908 17 Anlysis of ntt &sets between fund$ Unttstritted funds Rtstricttd funds 2024 Total Upre51ri¢l¢d funds 2023 RL%trided Total 2024 2024 2023 2023 Fund bL?lances at JI MaTch 2024 arL rLprcscni¢d by= Tangible assets Currcnt asseIlIabilIties) 2.509.811 205,898 2.509,811 219,297 2.505.092 212,304 2.505.092 231212 iJ.JyJ 18.908 2,715.709 13.399 2.729.108 2.717.396 111,908 2.736,304 18 Related pwrty trwnsactititts During ihL yLar (he Church paid J.L. WL wif¢ of ont ofthe irusieffj N.T. W( a salary of £9.4W (2023.. £8.962} in r%LI of dutlLS PLrfornie<L 16-