Registered charity Number 1103033 England and Wales New Life Evangelical Ministries Report and financial statements for the year ended 31 December 2024
New Life Evangelical Ministries Legal and administrative inforniation Trustess Rev. Torniwa Fe8tus Olagunju Malthilda Gold Ogunboye Registered charity number 1103033 England and WaIe5 Principal location Jo Richardson Community *hool Castle Green Gale Street Dagenham Esses RM9 4UN Accountants F.Iliot Akins & Co Chartered Certtfied Accountants 1st Floor, Cavendish Ilouse 369 Burnt Oak Broadm'ay Edgware Midcllesex FIA8 SAW Bankers National Westminster Bank PIC 192 Hillde.ne Avenue Elarold Hill RomfoTd Essex RM.3 8DD
New Life EvangeIical Ministries Contents Page Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 6-10
New Life EvangelicaI fvtini5tries Trustees report for the year ended 31 December 2024 'rhe trustees present their annual report with the financial statements of the charity for the }Tear ended 31 DecembeT 2024 Principal activity The principal activities of the charity continued to be the advancetnent of the Christian Teligion in particular but not b}T Ni'ay of limitation by Biblical studies, theological education, evangelical trayning, Christian seminar5 and conventions. Trustees The trustees in office at the beginning and end of the year, were as follows Rev. Tomiwa Festus Olagunju Malthilda Wuraola Olaguiiju Volunteers We would like to thank all the volunteers Miho M'ork so hard to niake our church the lively and vibraiit community it is. Structure, governance and management The method of appointment of the officers of the church into various administra trive departments i5 SeTht out in the charity'5 constitLLtion. Trustees, responsibilities The charity act requires the trustees to prepare financial statements for each financial year V*'hich give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the chari for that year. In preparing those accounts, the trustees are required to: select suitable accounting policies and then apply them consistendy. make judgements and estÉmates that are reasonable and prudeiit" state K,hether applicable accounting standari15 aiid statements of recommended practice were used; prepare the financial statenients based on the going concern basis unless it is iiiappropriate to presume that the charity will COLltinue in operation. The trustees are responsible for keeping proper accounting re(OTds which disclcise with reasonable Page 1
New Life Evangelical Ministries Trustee5 report for the year ended 31 December 2024 accuracy at any ttme the financial position of the charity and to eliable them to ensure that the financial statements comply with the Charitie5 Aits. They are also responsible for safeguarding the assets of the cliarRty and heiice FOT takllig reaSLinabLe steps for the prevention and deteLtion of fraud aiid otlier irregLAlarities. This report was approved by the Board of trustees on 17 Novembe.r 2025 ancl sismecl on their behalf b}, Rev. Tomiwa Festus Olagunju Trustee and pastor in chatge Page 2
New Life EvangelicaI Ministries Independent examiner's report to the trnstee4 menibers of New Life Evangelical Ministries for the year ended 31 December 2024 I report on the accounts for the year ended 31 December 2024 which are set out on pages 4 to 10 Respective responsibilities of trustees and examiner The eharity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 144 of the Charitie5 Act 2011 (the charitees Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts (u nder section 145 of the charitess Act, - to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5}(b) of the charitees ACT. and to state w'hether particular niatters have come to my attention. Basis of independent examiner's report My examination Mias carried out in accoTdance with General Directions given by the Charity Commi55ion An exaniination includes a review of the accounting records kept by the charity and a comparison of the accounts presented w'ith those records. It also includes consideration of (my unusual iteLns or Llisclosures 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 no opinion is given a5 to whether the accounts present a true and fair view and the report is limited to those matters set out i n the statement below. Independent examiner's statement In the course of my examination, no matter has corne to my attention: . which gives me reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with section 130 of the Charitees Act. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charitees Act; have not been met; or 2. to which, in my opinion, attention 5houia be drawn in order to enable a proper understanding e accounts to be reached. lot Akinjirin FCCA Chartered Certified Accountants 1st Floor, Cavendish House 369 Burnt Oak Broadway Edgware Middlesex HA8 SAW 18 November 2025 Page 3
New Life Evangelical tninistsies Statenient of FTnancial Activities for the s'ear ended 31 DecellibeI 2024 Unrestrictecl funds Restricted funds Notes funds 2024 funds 2023 Incoming resouTce5 Inconiing resouIces fvorn generated funds: Voluntary income: Llonattons Activities in fiLrtherance of chaTitable activities Investnieiit income Total incoming resource5 29,470 29,470 14,913 2b 29,470 29A70 14,913 Resources expended Chaiitable activities: Religious organisa tions: donations Other charitable purp05eg Relief of poverti, 740 4,726 740 4,726 1,085 3,377 Governance costs: Management and adniinistrattves costs Total resour<es used 19,992 15,4)8 19,992 25,4)8 10,905 15,367 Net incorning resources 4,012 4,012 (454) Net rnowement in funds 4,012 4.012 {4i4) Balance at l January 2024 2,291 2,291 2,745 Balance at 31 December 2024 6,303 6,30.3 2,291 Page 4
New Life EvangeIical Ministries Balance sheet as at 31 December 2024 2024 2023 Fixed assets TangibIe assets Notes 2,800 2,800 7,300 Current assets Debtors Cash at bank and in hand 10 720 720 708 708 Creditors: amounts f alling due within one year 11 (1,717) (1,217) Net current assets (99 (309) Total assets less current liabilities 2,291 Creditors: amounts falling due after more than one year Net assets 2,291 ResenTes Accumulated Teserves SuTpfius/ (deficit) for the year 2,291 4,012 2,745 (454) Total funds 2,291 The Financial statements w'ere approved by the Board of trustees on 17 November 202? and signecl on its behalf by. Rev. Tomiwa Festus Olagunju Trustee and pastor in Charge The notes on pages 8 to 10 form an integral part of these financial statements Page 5
New Lrfe Evangelical Ministries Notes to the financial statements for the year ended 31 December 2024 1.0 Accounting policies 1.1 Accounting convention The financial statements are prepared under the historical cost conventton and in accordance MTith the statement of Recornmended Practice. Accounting and Reporting by Charities (SOIIP 2005). 1.2 Incoming Resources Tithes and offerings: Incoming resources includes collecttons froln tithes and offertories received during the year. Investment income: Investment income consists of bank interest received during the yLJar. 1.3 Resources expended Resources expended inclusive of value added tax are included in the Statement of Financial Activities on an accrual basis. 1.4 Tangible fixed assets and depreciation Tangible fixed assets for use by the charity are stated at cost less Llepreciation. Depreciation is providLd at rates calculated to write off the cost ILJSS residual value of each asset over its expectecl usefu I life, a5 follows: Fixture5 and equipment 25 % on cost 2a Donations and similar incoming resources 2024 2023 Tithes & OffeTings Gift aid tax claimed 29,470 9,876 29,470 14,913 2b Activities in furtherance of charitable activities 2024 2023 Sundry income Page 6
New Lif e Evangelical Ministries Notes to the f inancial statements foT the year ended 31 December 2024 Investment income 2024 2023 Bank interest received Resources expended on charitabIe activities 2024 2023 Donations 740 740 1,085 1,08> Resources expended on other charitable activities 2024 2023 Books & publications Youth & Sunday school Conferences, retreats and anniversaries Transportation 426 400 4,016 2,468 4,726 Resources expended on poverty relief 2024 2023 Hospitality Page 7
New Life Evangelical Ministries Notes to the financial statements for the year ended 31 December 2024 Governance costs: Expenditure on managingadministering the charity 2024 2023 Rent and Tates TeLephone Printing, postage and stationery Mission support Bank charges Accountancy Artists and speakers General expenses Depreciation 6,071 385 3,145 107 515 4,648 482 7,285 12 500 250 1,625 615 3,17) 582 1,500 19,992 10,905 Net movement in funds for the year 2024 2023 Net movement in funds is stated after charging: Depreciation of tangible fixed assets 1,500 Fund5 Unrestricted Restricted Funds Funds Total Funds 2024 Total Funds 2023 At January Surplus for yeaI 2,291 4,012 2,291 4,012 2,74) (454) At 31 December 6,303 6,303 2,291 Unrestricted funds comprise those funds M,hich the trustees are free to use in accordance with the charitable objects. Restricted funds are funds "hICh have been given for particular purposes and projects. Page 8
New Lif e Evangelical Ministries Notes to the financial statements for the year ended 31 December 2024 Tangible fixed a55etS Land and building Fixtures and equipment Total Cost at 1 January 2024 2,800 16,259 Additions 6,000 6,000 At 31 December 2024 2,800 19,459 22,259 Depreciation at l January 2024 13,459 13,459 Charge for year 1,500 1,500 At 31 December 2024 14,959 14,959 Net book value At 31 December 2024 2,8QO 4,500 At 31 December 2023 2,800 2,800 2024 2023 10 Debtor5 Sundry debtor5 Prepayments 11 Creditors: amounts falling due within one year 2024 2023 Accruals 1,717 1,717 1,217 1,217 Page 9
New Life Evangelical Ministries Notes to the financial statements for the year ended 31 December 2024 12 Related party transactions and charges No payment were made to Trustee or any other persons connected Miith them during this financial year in their capacity as Trustees. No material transactions took place between the charity and the Trustess or any person connected with them. Page 10