Registered number 05348864
Nu-Life Christian Trust Charity No. 1111807
Accounts
31 March 2024
## **Nu-Life Christian Trust Company Information**
## **Directors**
Edak Efefiong Effiom Ijeoma Nmema Udechukwu Michael Alake
## **Secretary**
Ijeoma Nmema Udechukwu
## **Accountants**
Accounts Center Associates Limited 492 Gale Street Dagenham Essex RM9 4NU
## **Bankers**
## **Registered office**
Suite 25, 1st Floor Unimix House Abbey Road Park Royal London NW10 7TR
**Registered number** 05348864
**Nu-Life Christian Trust Registered number:**
**05348864**
## **Trustees Annual Report**
The trustees who are also directors for the purposes of company law, present their report and accounts for the year ended 31 March 2024.
## **Directors' responsibilities**
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the trustees to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the organisation and of the profit or loss of the organisation for that period. In preparing these accounts, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the organisation's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Directors**
The following persons served as directors during the year:
Edak Efefiong Effiom Ijeoma Nmema Udechukwu Michael Alake
## **Small company provisions**
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
This report was approved by the board on 31 December 2024 and signed on its behalf.
E.E. Effiom Director
## **Nu-Life Christian Trust Statement of financial activities for the year ended 31 March 2024**
|**Incoming resources**
Direct charitable expenditure
Fundraising and publicity
Governance costs
Other operating income
**Operating deficit**
Profit on the disposal of tangible fixed assets
Profit on the disposal of investments
Gain on revaluation of investments
Income from investments
Interest receivable
Interest payable
**Deficit for the year**|**Unrestricted**
**funds**
**2024**
**£**
**88,846**
**(72,790)**
**16,056**
**(630)**
**(29,953)**
**-**
**(14,527)**
**-**
**-**
**-**
**-**
**-**
**(750)**
**(15,277)**|Unrestricted
funds
**2023**
**£**
110,448
(70,732)|
|---|---|---|
|||39,716
(670)
(49,556)
-|
|||(10,510)
-
-
-
-
-
(1,169)|
|||(11,679)|
1
**Nu-Life Christian Trust Registered number:** 05348864 **Balance Sheet as at 31 March 2024**
||**Notes**||**2024**||**2023**|
|---|---|---|---|---|---|
||||**£**||**£**|
|**Fixed assets**||||||
|Tangible assets|3||**6,879**||8,099|
||||**6,879**||8,099|
|**Current assets**||||||
|Debtors|4|**-**||4,902||
|Cash at bank and in hand||**516**||3,954||
|||**516**||8,856||
|**Creditors: amounts falling due**||||||
|**within one year**|5|**(19,908)**||(7,223)||
|**Net current (liabilities)/assets**|||**(19,392)**||1,633|
|**Total assets less current**||||||
|**liabilities**|||**(12,513)**||9,732|
|**Creditors: amounts falling due**||||||
|**after more than one year**|6||**(36,581)**||(43,549)|
|**Net liabilities**|||**(49,094)**||(33,817)|
|**Capital and reserves**||||||
|Revaluation reserve|7||**-**||-|
|Reserves|||**(49,094)**||(33,817)|
|**Shareholder's funds**|||**(49,094)**||(33,817)|
The directors are satisfied that the charity is entitled to exemption from the requirement to obtain an audit under the Charities Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
E.E. Effiom Director
Approved by the board on 31 December 2024
2
**Nu-Life Christian Trust Notes to the Accounts for the year ended 31 March 2024**
## **1 Accounting policies**
## _**Basis of preparation**_
The accounts have been prepared under the historical cost convention and in accordance with the provisions of the Charities Act 2006, and the Charities (Accounts and Reports) Regulations promulgated thereunder, and the Statements of Recommended Practice issued by the Charity Commission.
**Unrestricted funds** represent funds which are expendable at the discretion of the trustees in furtherance of the objects of the church and are held in the general fund.
**Restricted funds** represent grants and donations received and tax refunds arising thereon, which were allocated by the donor for specific purposes.
## **Direct charitable expenditure**
Direct charitable expenditure includes all expenditure which is directly related to the objects of the charity and comprises grants paid and costs whch are directly attributable to charitable activities including charitable support costs.
## **Management and administration costs**
Management and administration costs represent expenditure incurred in the management of the assets of the charity, organisational administration and compliance with constitutional and other statutory requirements. None of the Trustees received any remuneration, nor were paid expenses in the year ended 31/12/2021.
## **Grants and donations**
There were no accruals for these items at the year end
## _**Tangible fixed assets**_
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. 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:
||Equipment and motor vehicles|20% reducing balance basis||
|---|---|---|---|
||Fixtures, fittings, tools and equipment|20% reducing balance basis||
|**2**|**Incoming resources**|**2024**|**2023**|
|||**£**|**£**|
||Unrestricted donations and gift aid tax reclaimable|88846|110448|
|||88846|110448|
3
**Nu-Life Christian Trust Notes to the Accounts for the year ended 31 March 2024**
## **3 Tangible fixed assets**
|**Cost**
At 1 April 2023
Additions
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023
**4**
**Debtors**
Other debtors
Gift aid tax recoverable
**5**
**Creditors: amounts falling due within one year**
Other creditors
**6**
**Creditors: amounts falling due after one year**
Bank loans
**7**
**Unrestricted funds**
General funds
Deficit for the year|**Equipment**
**£**
12,865
500
13,365
4,766
1,720
6,486
6,879
8,099
**2024**
**£**
-
-
-
**2024**
**£**
19,908
19,908
**2024**
**£**
36,581
36,581
**2024**
**£**
(33,817)
(15,277)
(49,094)|**Total**
**£**
12,865
500
13,365
4,766
1,720
6,486
6,879
8,099
**2023**
**£**
4,902
-
4,902
**2023**
**£**
7,223
7,223
**2023**
**£**
43,549|
|---|---|---|
|||43,549
**2023**
**£**
(22,138)
(11,679)
(33,817)|
4
## **Nu-Life Christian Trust Notes to the Accounts for the year ended 31 March 2024**
## **8 Company limited by guarantee**
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required, not exceeding £1.
## **9 Other information**
Nu-Life Christian Trust is a private company limited by guarantee and incorporated in England, registered no. 05348864. The registerd office is Suite 25, First Floor, Unimix House, Abbey Road, Part Royal, London, NW10 7TR
5
## **Nu-Life Christian Trust Income and expenditure account for the year ended 31 March 2024**
_This schedule does not form part of the statutory accounts_
|**Incoming resources**
Unrestricted funds
Tithes and offerings
Gift aid claim
Other donations and grants
Direct charitable expenditure
Honoraria
Mission costs and support
Outreach and youth programmes
Hospitality, support and welfare
Ministerial and pastoral expenses
**Fundraising and publicity**
Fundraising and publicity costs
**Other employee costs**
Wages and salaries
**Other premises costs**
Cleaning, maintenance and refuse disposal
**Governance costs**
Telephone and web costs
Computer, media & digital service costs
Printing, postage and other office supplies
Bank charges and loan fees
Insurance
Repairs and maintenance
Accountancy fees
Depreciation
Travel and subsistence
Sundry expenses
**Other operating income**
Furlough support grants|**2024**
**£**
**54,772**
**13,693**
**20,381**
**88,846**
**2,020**
**855**
**859**
**3,705**
**29,735**
**72,790**
**630**
**630**
**20,000**
**20,000**
**417**
**417**
**3,377**
**-**
**550**
**90**
**864**
**-**
**1,200**
**1,720**
**1,722**
**-**
**9,523**
**29,953**
**-**
**-**|**2023**
**£**
88,358
22,090
-|
|---|---|---|
|||110,448|
|||3,050
538
1,010
12,181
16,977|
|||70,732|
|||670|
|||670|
|||20,000|
|||20,000|
|||765|
|||765|
|||2,070
1,643
1,888
90
916
3,180
700
2,025
15,859
420|
|||28,791|
|||49,556|
|||-|
|||-|
6
|**Nu-Life Christian Trust**|||
|---|---|---|
|**Corporation tax computation**|||
|**Tax reference**|||
|**Period beginning**||**1/04/23**|
|**Period ending**||**31/03/24**|
|**Accounts period beginning**||**1/04/23**|
|**Accounts period ending**||**31/03/24**|
|**Adjustment of trading profits**||**£**|
|Loss before tax per the accounts||(15,277)|
|Add back disallowable expenses|||
|Donations||-|
|Depreciation and (profit)/loss on sale of assets||1,720|
|Other||-|
|Capital allowances||(500)|
|Add back dividends payable on non-equity shares included in interest payable||-|
|Deduct non-trading income|||
|Interest receivable||-|
|Property income||-|
|Other income not taxable||-|
|Other adjustments|||
|Finance lease adjustments||-|
|Leased cars||-|
|Other operating lease adjustments||-|
|Adjusted trading loss||(14,057)|
|**Taxable profits**||**£**|
|Trading loss|(14,057)||
|Charity relief|14,057||
|Losses utilised|-||
|||-|
|Interest receivable|-||
|Charity relief|-||
|||-|
|Rental income||-|
|Net chargeable gains||-|
|Less: qualifying donations to UK charities||-|
|Taxable profit||-|
|**Days in accounting period falling in each tax year**|||
||**Days falling**||
|**Tax year**|**in tax year **|**Days in year**|
|2022|365||
|2023|-||
||365|365|
|**Corporation tax payable**|||
|**Taxable**|||
|**Tax year**
**profit**|**Tax rate**|**Corp Tax**|
|2022
-|19%|-|
|2023
-|19%|-|
|-|||
|Corporation tax payable||-|
|**Nu-Life Christian Trust**
**Capital allowances**
**Tax reference**
**Period beginning**
**Period ending**
**Summary**
General pool
Special rate pool
Short term asset pools
Total capital allowances
**General Pool**
Written down value brought forward
Disposal receipts
Balancing allowance
Balancing charge
Expenditure qualifying for writing down allowance
Relevant first year expenditure
Other expenditure qualifying for first year allowance
Expenditure qualifying for annual investment allowance
FYA in respect of relevant FYA expenditure
£1000 or less: write off
Annual investment allowance
Writing down allowance
Written down value carried forward
**Special rate pool**
Written down value brought forward
Disposal receipts
Balancing allowance
Balancing charge
Thermal installation expenditure
Integral feature expenditure
Expenditure on a car that is not a main rate car
Expenditure on cushion gas
Expenditure qualifying for annual investment allowance
Annual investment allowance
Writing down allowance
Written down value carried forward
**Total of short life asset pools**
Number of single asset pools
Written down value brought forward
Disposal receipts
Balancing allowances
Balancing charges
Expenditure qualifying for written down allowance
Relevant first year expenditure
Other expenditure qualifying for first year allowance
Expenditure qualifying for annual investment allowance
FYA in respect of relevant FYA expenditure
Other FYA
Annual investment allowances
Writing down allowances
Written down value carried forward|**1/04/23**
**31/03/24**
**£**
500
-
-
500
**£**
-
-
-
-
500
500
-
-
-
-
(500)
-
(500)
-
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**1/04/23**
**31/03/24**
**£**
500
-
-|
|---|---|---|
|||500|
|||**£**
-
-
-
-
500|
||-
-||
|||-|
|||**£**
-
-
-
-
-
-
-
-|
|||-
-
-|
||-
-
-
-||
|||-|
|||-
**£**
-
-
-
-
-|
|||-
-
-
-
-|
||||
|||-|