Registered number 05374898
The New Testament Assembly
## Report and Financial Statements
31 March 2022
## **The New Testament Assembly Report and accounts Contents**
||**Page**|
|---|---|
|Charity information|1|
|Trustees' report|2 - 4|
|Statement of financial activities|5|
|Statement of financial position|6|
|Statement of changes in charitable funds|7|
|Notes to the financial statements|8 -11|
|Detailed statement of financial activities|12|
## **The New Testament Assembly Charitable Company Information**
## **Trustees**
The Rt. Rev. D. Powell Rev. D. Lewis-Gordon Rev. Beverley Jennifer Russell-Burke Rev. D. Wilson Rev. N. Lewis-Gordon Mrs Tamara Makinwa Mr Garfield Allen Miss Melanie Kennedy Miss Ionie Townend Rev. Ope Alabi Rev. Denise Peters Miss Jackie Cooke
## **Secretary**
Rev. Beverley Jennifer Russell-Burke
## **Registered office**
NTA UK Headquarters Beechcroft Road London SW17 7BU
**Company Registered number** 05374898
## **Charity Registration number**
1109284
1
## **The New Testament Assembly**
## **Trustees' Report**
The Trustees, who are also directors for the purposes of company law, present their annual report and financial statements of the Charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
## **Objectives and activities**
The underlying principle of the Charity is that of a religious nature. The main aim is to advance the Christian religion through social action for the public good in accordance with the beliefs and practices of the NTA as stated in its published statement of faith. Activities include:
- Care and support for the elderly
- Mental health drop-in
- Community outreaches
- Advice and counselling support
Whilst the above services are intended to address inequalities in the Black and Minority Ethnic community all are equally welcomed. In planning our activities this year we worked in accordance with the Charity Commission's guidance on public benefit. We exist to serve all areas of our community regardless of social differences including race, ethnicity, disability, gender, sexual orientation, religious belief or none. We strive to promote welfare and cohesion through the provision of social services and cultural events so improving the mental and physical wellbeing of our local community.
## **Financial Review**
## **Significant events**
The Charity made a surplus for this year of £26,302.
## **Reserves policy**
The Trustees continuously review the level of free reserves (those funds not tied up in fixed assets or restricted funds) required to sustain its operations to completion. Reserves are need ed to meet the working capital requirements of the Charity and to maintain the current activites of the Charity.
## **Investment policy**
The Trustees have adopted a strong socially responsible investment policy for the reserves of the charity. This policy, in tandem with the need to fulfill our statutory obligations, has the objective of investing in such a way that the principles of socially responsible investments are promoted.
2
**The New Testament Assembly Trustees' Report**
## **Structure, governance and management**
## **Governing document**
The New Testament Assembly is a charitable company limited by guarantee, incorporated on 24 February 2005 and registered as a charity on 3 May 2005. The company was established under a Memorandum of Association which set its objects and powers, and is governed by its Articles of Association, as amended by a special resolution dated 25 April 2005. In the event of the company being wound up, the members are required to contribute an amount not exceeding £10.
## **Organisational structure**
At their regular meetings, the board members agree the Board strategy and areas of activity for the Charity, including the consideration of grant making, investment, reserves and risk management policies and performance.
The Trustees may delegate any of their powers or functions to a committee of two or more directors.
## **Risk management**
The Trustees actively review , on a regular basis, the major risks that the Charity faces and a risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the Charity faces. Significant external risks to funding have led to the development of a strategic plan which will allow for the diversification of funding and activities. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions.
The Trustees have also examined other operational and business risks which we face and confirm that we have taken steps to mitigate the significant risks.
## **Recruitment and appointment of trustees**
The Trustees, who are also Directors of the company, are elected by the members to serve for a period of four years, after which they must be re-elected at the next Annual General Meeting. Much of the Charity's work focuses on the operation and maintenance of the Tooting Neighbourhood Centre.
The Trustee Board seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of directors, the Charity has, through selective advertising and networking with voluntary organisations active in the sector, sought to identify those who would be willing to become members of the Charity and use their experience to asist the Charity.
3
**The New Testament Assembly Trustees' Report**
## **Trustee induction and training**
Many trustees are already familiar with the practical work of the Charity having been involved in other capacities or because of experience gained in their own churches or other organisaitons. New trustees are invited and encouraged to attend a series of short training sessions to familiarise themselves with the Charity and the context within which it operates. These cover:
- The obligations of Trustee board members
- The operational framework for the Charity
- The current financial position and revenue generation
- Future plans and objectives
## **Volunteers**
The principle activity of the Charity is to provide domiciliary care. The business model requires employed staff and carers, and requires no volunteer support.
## **Trustees**
The following persons served as Directors/Trustees during the year:
The Rt. Rev. D. Powell Rev. D. Lewis-Gordon Rev. Beverley Jennifer Russell-Burke Rev. D. Wilson Rev. N. Lewis-Gordon Mrs Tamara Makinwa Mrs Julietter Harding - resigned 8 January 2022 Mr Garfield Allen Miss Melanie Kennedy Miss Ionie Townend Rev. Ope Alabi Rev. Denise Peters Miss Jackie Cooke
Approved by the Board of Trustees and signed on its behalf by
Mrs Tamara Makinwa Director
28 February 2023
4
## **The New Testament Assembly Statement of Financial Activities for the year ended 31 March 2022**
|**The New Testament Assembly**
**Statement of Financial Activities**
**for the year ended 31 March 2022**|||
|---|---|---|
|**Notes**
**Income**
3
Expenditure - charitable activities - page 14
Support costs - governance costs
**Total resources expended**
Interest payable
6
**Net expenditure**
4
Total funds brought forward
**Total funds carried forward**|**2022**
**Unrestricted**
**funds**
**£**
45,179
(6,804)
(12,063)
(18,867)
(10)
26,302
113,690
139,992|As restated
**2021**
**Unrestricted**
**funds**
**£**
1,607|
|||(16,032)
(17,002)|
|||(33,034)|
|||(7)|
|||(31,434)
145,124|
|||113,690|
5
## **The New Testament Assembly Statement of Financial Position as at 31 March 2022**
|**The New Testament Assembly**
**Statement of Financial Position**
||||
|---|---|---|---|
|**as at 31 March 2022**
**Notes**
**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
11
**Net current assets**
**Net assets**
**The funds of the Charity**
Other reserves
12
Unrestricted funds
13
**Total funds**|**2022**
**Unrestricted**
**funds**
**£**
663,334
84,232
44,368
128,600
(600)
128,000
791,334
651,342
139,992
791,334|As restated
**2021**
**Unrestricted**
**funds**
**£**
670,138
94,579
502
95,081
(187)
94,894
765,032
651,342
113,690
765,032||
|||||
||||765,032|
||||651,342
113,690|
||||765,032|
For the year ended 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to the Small Companies Regime.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Mrs Tamara Makinwa Director Approved by the Board on 28 February 2023
6
## **The New Testament Assembly Statement of Changes in Charitable Funds for the year ended 31 March 2022**
|**At 1 April 2020**
Deficit for the financial year
**At 31 March 2021**
**At 1 April 2021**
Surplus for the financial year
**At 31 March 2022**|**Other**
**reserves**
**£**
651,342
-
651,342
651,342
-
651,342|**Unrestricted**
**funds**
**£**
145,124
(31,434)|
|---|---|---|
|||113,690|
|||113,690
26,302|
|||139,992|
7
**The New Testament Assembly Notes to the Accounts for the year ended 31 March 2022**
## **1 Summary of significant accounting policies**
## _**Basis of preparation**_
The financial statements have been prepared under the historical cost convention except for the revaluation of land and buildings and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Charity constitutes a public benefit entity as defined by FRS 102.
## _**Income recognition**_
The Charity receives its income from service agreements. This income is recognised upon receipt and accounted for on this basis.
## _**Expenditure**_
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party.
Expenditure on charitable activities includes the costs of providing the services and consist primarily of staff costs.
Support costs include the governance costs incurred in operating the charities governance activities.
## _**Tangible fixed assets**_
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses, except for land and buildings which are revalued. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 1% reducing balance Fixtures, fittings, tools and equipment 25% reducing balance
## _**Creditors**_
Short term creditors are measured at transaction price (which is usually the invoice price).
## **2 Restatement of 2021**
The figures for the year ended 31 march 2021 have been restated to include expenses paid on it's behalf by a the related charity in part repayment of the loan outstanding, as referred to in note 8.
8
## **The New Testament Assembly Notes to the Accounts**
**for the year ended 31 March 2022**
|**3**
**Analysis of income**
Service agreements
Rental income
**4**
**Surplu/(Deficit)**
This is stated after charging:
Depreciation of fixed assets
Staff pension contributions
**5**
**Staff costs**
Wages and salaries
Other pension costs
Redundancy
**Average number of employees during the year**
Administration
**6**
**Interest payable**
Bank loans and overdrafts
No employee was paid £60,000 or more.|**2022**
**£**
-
45,179
45,179
**2022**
**£**
6,804
-
**2022**
**£**
-
-
-
-
**Number**
-
**2022**
**£**
10|**2021**
**£**
1,607
-|
|---|---|---|
|||1,607|
|||**2021**
**£**
6,908
335|
|||**2021**
**£**
8,789
335
-|
|||9,124|
|||**Number**
1|
|||**2021**
**£**
7|
## **7 Trustees**
None of the Trustees have received any remuneration or any other benefits from the Charity.
None of the Trustees have claimed expenses.
9
**The New Testament Assembly Notes to the Accounts for the year ended 31 March 2022**
## **8 Related charity**
The New Testament Assembly is related to the New Testament Assembly Property Charity.
An interest free loan of £84,232 ( 2021 - £94,579) is outstanding from the related charity at the year end.
During the year amounts were received of £6,500 and expenses paid on behalf of this charity of £3,847.
## **9 Tangible fixed assets**
|**Cost or valuation**
At 1 April 2021
At 31 March 2022
**Depreciation**
At 1 April 2021
Charge for the year
At 31 March 2022
**Carrying amount**
At 31 March 2022
At 31 March 2021
**10 Debtors**
Other debtors
**11 Creditors: amounts falling due within one year**
Bank overdrafts
Accruals and deferred income
The land and buildings were valued in 2007.|**Land and**
**buildings**
_At cost_
**£**
800,000
800,000
130,290
6,697
136,987
663,013
669,710|**Fixtures,**
**fittings,**
**tools and**
**equipment**
_At cost_
**£**
21,415
21,415
20,987
107
21,094
321
428
**2022**
**£**
84,232
**2022**
**£**
-
600
600|**Total**
**£**
821,415|
|---|---|---|---|
||||821,415|
||||151,277
6,804|
||||158,081|
||||663,334|
||||670,138|
||||**2021**
**£**
94,579|
||||**2021**
**£**
187
-|
||||187|
10
## **The New Testament Assembly Notes to the Accounts**
**for the year ended 31 March 2022**
|**12 Other reserves**
Revaluation reserve
At 1 April
At 31 March
**13 Unrestricted funds**
At 1 April
Surplus/(deficit) for the financial year
At 31 March|**2022**
**£**
651,342
651,342
**2022**
**£**
113,690
26,302
139,992|**2021**
**£**
651,342|
|---|---|---|
|||651,342|
|||**2021**
**£**
145,124
(31,434)|
|||113,690|
## **14 Presentation currency**
The financial statements are presented in Sterling, the functional currency of the Charity.
## **15 Legal form of entity and country of incorporation**
The New Testament Assembly is a charitable organisation limited by guarantee, incorporated on 24 February 2005 and registered as a charity on 3 May 2005 in England and Wales.
## **16 Principal place of business**
The address of the Company's principal place of business and registered office is:
_Registered Office:_
NTA UK Headquarters Beechcroft Road London SW17 7BU
## **11 Public Benefit**
The Charity is a public benefit entity
## **12 Taxation**
The Charity is a registered charity and not taxed on its income.
11
## **The New Testament Assembly Detailed Statement of Financial Activities for the year ended 31 March 2022**
|**Income**
Service agreement
Rental income
**Expenditure on charitable activities**
Staff costs - wages and salaries
Redundancy
Staff costs - pension contributions
Depreciation - owned assets
**Support costs - governance costs**
Accountancy fees
Running costs
Bank charges|**2022**
**£**
-
45,179
-
-
-
-
6,804
6,804
600
11,216
247
12,063|**2021**
**£**
1,607
-|
|---|---|---|
|||1,607|
|||8,789
-
335
6,908|
|||16,032|
|||(200)
16,965
237|
|||17,002|
12