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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 05346522 (England and Wales) REGISTERED CHARITY NUMBER: 1112203

Trustees' Report and

Unaudited Financial Statements for the Year Ended 31 March 2021

for

New World Mission Association UK (A Company Limited by Guarantee)

Garside and Co. Limited Suite 631, Linen Hall 162-168 Regent Street London W1B 5TG

New World Mission Association UK

Contents of the Financial Statements for the Year Ended 31 March 2021

Page
Reference and Administrative Details 1
Trustees' Report 2 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11 to 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 25
Detailed Statement of Financial Activities 26 to 27

New World Mission Association UK

Reference and Administrative Details for the Year Ended 31 March 2021

TRUSTEES J I Bedoya Martinez Pastor D Ravelo Pastor N Miguel Self Employed A Vinasco Self Employed A Torres Finance Manager COMPANY SECRETARY D Lopez REGISTERED OFFICE 78 Southwark Bridge Road London SE1 0AS REGISTERED COMPANY 05346522 (England and Wales) NUMBER

REGISTERED CHARITY NUMBER 1112203

INDEPENDENT EXAMINER Garside and Co. Limited Suite 631, Linen Hall 162-168 Regent Street London W1B 5TG

Page 1

New World Mission Association UK

Trustees' Report for the Year Ended 31 March 2021

The Trustees present their annual report together with the independent examiner report of the financial statements for the year 1 April 2020 to 31 March 2021.

Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

The charity also trades under the name NEWMA.

OBJECTIVES AND ACTIVITIES

Policies and objectives

The Trustees confirm that when reviewing the Charity's aims, and planning the objectives and activities, they have had due regard to the Charity Commission's guidance on public benefit and in particular the supplementary guidance regarding the advancement of religion.

The objectives of the Charity are set out in its governing document and can be summarised as:

Our current principal aims are to be:

Objectives for 2020/2021

Strategies for achieving objectives

The strategies for achieving the aims and objectives are those set out in the home small groups vision developed by many churches around the world with many hundreds of thousands of members. Inspired by the remarkable growth and quality of this vision, New World Mission Association has adopted the small groups vision. The strategy is based on Christ's example of training disciples who would in turn make further disciples and is a four-step process:

• WIN new believers through personal friendship as well as through invitations to learn of the Christian message in public services and in smaller group meetings;

Activities for achieving objectives

The Charity runs local activities as well as activities further afield in partnership with other organisations:

Page 2

New World Mission Association UK

Trustees' Report for the Year Ended 31 March 2021

OBJECTIVES AND ACTIVITIES LOCAL CHURCH ACTIVITIES

Sunday Services

We have 5 services in 4 locations, we are one church with many campuses, we have our: Pimlico Campus on Lupus Street (Pimlico Academy) this campus holds 2 bilingual services (Spanish and English); Hoxton Campus at 14 Penn Street, English-Speaking Campus; Newham Campus (The Parish of all saints Church); Hampton Road and Holloway Campus (House on the Rock). Each campus has children's program and translation into English or Spanish simultaneously on stage.

Community Groups/ C Groups

Our small groups are known as cells, as the Bible refers to the church as a body of believers and the cell is the basic component of the body. Small groups "cells" are open to Christians and non-Christians alike to learn about the teachings of Jesus. There are cells for all ages: children, youth and adults. We also run discipleship cell groups which consist of up to 12 church members who are committed to support and encourage each other in their Christian lives.

Retreats

Encounter weekends, pre-Encounter and post-Encounter courses are run for anyone who has decided to join the church. They form the core of our 'consolidation' strategy, enabling people to have a real encounter with God, to ensure they have a clear understanding of the Christian message, be set free from past hurts and learn how the church operates and how to find their place within it.

Leadership training and World link Mission School

The 'School of disciples' is run to provide a thorough grounding in the teachings of the Bible and train Christians to run their own small groups. Classes are once a week and the school last a minimum of a year. This is a core part of the 'Disciple' strategy. In addition we run the 'World link Mission School' for those who want to advance their studies, this is also training for those that are preparing for the pastoral ministry, and those who are opening new churches within our network within London and internationally.

Baptism services

CCL yearly hold baptism services, these are for new members who have made a decision to be a disciple of Jesus Christ, we hold the baptism service at different venues (Baptist church's).

Media

We have a small media team that is composed of staff and volunteers, they help through social media and church web page update and inform all that the Church is doing across the campuses we also put the Sunday sermons online for those who can't attend Sunday service. We have also started CHURCH ONLINE, a Christian live streaming service by social media, Facebook and YouTube

.

Evangelism on the Streets

Leaders of the church program a weekend once every month about 45 leaders and members go to help the poor and marginalised by giving food and clothing and connect them with organisation that can help them to find accommodation and counsel.

Seminars and conferences

CCL church will invite guest speakers throughout the year to build up the congregation with seminars and conferences, these will be held at different times of the year and will focus on helping build up the men's network, women's network and youth and children's network. CCL will cover the costs for the speakers for these seminars and conferences.

Churches and Missions

The Church provides pastoral oversight to churches in Spain, Ecuador, Columbia and Peru, we work closely on the development and activities of those churches and missions. The Charity also sends delegates to participate and speak in these churches and missions.

Ecuador

We continue to hold a building for our church in Quito, Ecuador.

Page 3

New World Mission Association UK

Trustees' Report for the Year Ended 31 March 2021

OBJECTIVES AND ACTIVITIES

Volunteers

All the charity's activities are facilitated in some respect by dedicated volunteers, several hundred of whom give their time to assist in some way - for example fulfilling a role in our Sunday service, annual conference, assisting in the church office or working with children or youth.

Public benefit

The Trustees have considered the Charity Commissioners' Guidance on Public Benefit and, in particular, the specific guidance on Charities for Advancement of Religion and is satisfied that the activities of New World Mission Association UK fall within such guidance.

ACHIEVEMENT AND PERFORMANCE REVIEW OF ACTIVITIES

We have achieved the objectives for 2020/2021.

School of disciples

The school of disciples has finished this year with 65 students.

Media

We have increased our outreach on social media, over 2700 people connect to our Facebook-page, this has help keep our network connected and informed of our church events and programs. We have also put our sermons, teachings and seminars online through SoundCloud, around about a 1100 people listening and sharing our teachings. We have had about 4100 people visit the website and share information. We need CHURCH ONLINE, we have over 600 people connected every week in our live streams by social media channel, these videos are also reproduce/ watch again by over 1800 viewers.

MISSIONS

Ecuador

The building in Quito Ecuador we have started on work with getting the building up to date with all the local government requirements, we will be sending on a regular basis workers to oversee all the procedures are being put in place.

Spain

We currently have 5 Church plants in Spain and are training new leaders to be sent out as missionaries. We have started our annual conference in Spain, the leaders there have elected a new national leader.

Services

The average attendance across the campuses and home groups are 750-8,000 (Adults, children) ending month of March 2020. New people that made a commitment: Total 101

Small groups Cells

The Church has about 120 small groups across the City of London at the end of 2021.

Encounter retreats

CCL encounters are held at Outsource hotel during April 2020 - March 2021. Total 5

Total people baptized

We have baptized in April 2020 - March 2021 Total 58

Family and community

We have been training people with pre-marriage course and marriage course to help newly weds and those who have been married longer.

Building fund

Since inception we have raised over £ 593,531 towards pro-building fund and are continuing to collect funds so we can purchase our own venue for all our ch urch activities.

Page 4

New World Mission Association UK

Trustees' Report for the Year Ended 31 March 2021

OBJECTIVES AND ACTIVITIES

Our aim is to have a Church in the North, South, East and West of London to reach out to the community and train our leaders. Reducing rent expense and to be able to put our resources into new mission projects and church planting projects.

FINANCIAL REVIEW

• Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

• Reserves policy

The Board of Trustees has examined the Charity's requirements for reserves in light of the main risks to the organisation. Our current policy is to maintain at least three months of all expenses. Based on the core expenditure in 2020 this is in the region of £100,000.

At the year end the charity held total funds of £204,820 of which £1,291 was held in restricted funds.

• Income

During the financial year 2020/2021 New World Mission Association UK (NEWMA UK) saw an income of £448,812 which included a restricted income of £Nil. The previous financial year 2019/2020 NEWMA saw a total income of £672,640 which also included a restricted fund of £Nil.

The decrease in restricted funds was due to the low fundraising donations from the community to donate to our special project of raising the funds to buy a building in London to house our services and provide programmes to the community. Our income continued to be affected for the third year by unforeseen circumstances of the Covid 19 Pandemic. The organisation was forced to close or presential activities: All our campuses close during this period, and we only hold online activities. The adaptation for our members to learn and donate online has been hard and we still waiting for an increase in online giving. Our membership, because of Covid 19 saw the departure of over 300 members.

During the year 2020/21 there has been a decrease in core unrestricted donations. This was in part due to the full closure of our presential events and activities due to COVID 19.

• Expenditure

NEWMA in 2020/2021 had an expense of £456,783 in charitable activities, a decreased comparison of £163,728 to 2019/2020 of total £620,511. The decreased expenses incurred in 2020/2021 mirror the decreased income experienced in the year. Following the year end the charity has undergone a restructuring to reduce costs.

There has been a decrease in legal costs incurred in the year. NEWMA UK incurred legal expenses of £25,224 to finalise a legal dispute in Ecuador The charity was in the process of purchasing a London base for the charity..

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Page 5

New World Mission Association UK

Trustees' Report for the Year Ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

New World Mission Association is a non-denominational church based in London UK. The Charity is governed by the trustees and registered with the Charity Commission: Charity Number 1112203.

New World Mission Association UK is registered also as company, Company Number: 5346522.

The Charity was incorporated on 28th January 2005 and is governed by a Memorandum and Articles of Association. The Association was registered with the Charity Commission on the 22nd November 2005 in accordance with the Charities Act. New World Mission Association is a charitable trust and is run by a board of Trustees.

Our Objectives to advance the Christian Faith and education in Churches established and maintained by the Charity, to teach an prepare missionaries, to organise community and social work, to relieve for those in need, hardship, distress or poverty within the United Kingdom and throughout the World.

Method of appointment or election of Trustees

Trustees may be appointed by a formal memorandum of spiritual leaders of the Church. Trustees must be a member of the church and accept the doctrine of the Church. Trustees are appointed in accordance with the provisions of the Articles of the Charity and with reference to the Association's Governance Policy.

Policies adopted for the induction and training of Trustees

The Trustees are required to read the Charity Commission guidance "the effective Trustee" and encouraged to read their other publications.

Pay policy for senior staff

The charity has considered its policy for setting the pay and remuneration of the charity's key management personnel. This is based on past experience and levels set by similar organisations. The trustees together with the minister are working on a new policy for ministers and church leaders.

Organisational structure and decision making

The strategic decisions of the charity are taken by the Board of Trustees. The Board of Trustees operate collectively with the Executive Management and Directors, to consider specific subjects and make recommendations to the Board.

Spiritual leaders

The Spiritual leaders of the church compromise the Senior Pastor together with a team of twelve men and twelve women who oversee the pastoral care of church members, the programme of Christian teaching and provide spiritual direction to the church.

The trustees recognise that the spiritual leaders are the spiritual authority of the church. The spiritual leaders recognise that the Trustees are the custodians and administrators of the trust funds. The trustees have the responsibility to administer the trust funds, which they will undertake in full recognition of the spiritual guidance provided by the church's spiritual leaders.

Having assessed the practical implications involved in fulfilling the spiritual direction given by the church's spiritual leaders, the trustees create and maintain:

Page 6

New World Mission Association UK

Trustees' Report for the Year Ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Risk Management

The trustees have recognised the importance of assessing and managing risk associated with Charity's objectives. The process of identifying risk is ongoing and has been an essential part of the management for some years. The Trustees are implementing systems to ensure identification, management and documentation of foreseeable risks.

Governance risks

Trustees may require more time to have in-depth reviews the charity. Planning ahead for the year with the Trustees at all the meetings reduces risk.

Operational risks

Inadequate staff being employed could lead to mistakes being made. This risk is migrated by sending those that are working for the charity to training sessions and seminars to be better equipped.

Financial risks

Donations could decrease leaving the Charity short of funds. The Trustees try to create new ways for people to give to the Charity, online or by post or standing order forms.

External Risks

Changes in Government policy or the economy fluctuating could have an adverse effect on the Charity. The Charity can keep beneficiaries informed how these changes can effect them. The Charity can look at ways to prepare for these changes.

Directors of the charity will have "Going concern and liquidity risk: Guidance for Directors of UK Companies 2009" from the Financial Reporting Council. Directors and Trustees' will have discussions earlier in the year to help minimise any risks to the charity before the reporting period.

Compliance with Laws and Regulations

Not having sufficient information when starting new projects in the Charity could lead to non-compliance. The Charity needs to always look at new ways to help and give to beneficiaries in the community (and further out), but there must be legal advice taken before a new project is taken onboard.

We are continually reviewing and making sure all donations are reported, main offerings are collected on Sunday and kept secure on Monday morning and banked on the same day. All our cell groups that collect offerings also have reports that are given at the Church offices of all that has been collected weekly.

Safeguarding Policy

Our safeguarding policy is aimed at protecting vulnerable children or adults from abuse and neglect in all circumstances. This includes all procedures designed to prevent harm, also refers to the process of protecting children and adults - by providing safe and effective care. All our employees and volunteers work under the guidance and according the Safeguarding prevention government policies and under the The Disclosure and Barring Service (DBS) checks.

PLANS FOR FUTURE PERIODS

Future developments

CCL is working to relaunch the church vision in 2021, as we see that we have new members and regular members, we know that we must continually clarify and communicate the vision of our church, this builds momentum.

We are looking for a new office space that can also help build up our worship ministry and media ministry. The worship ministry will be working from the new premises to record their first album. The recording studio can also be used with local community to help develop musicians and young people. We want to build up the media department, to help church mission and vision, this will include bringing local community to have training and internship program. We want to develop through media better communication through social media the work and mission of CCL in the UK and nations.

We also see the need to educate church members and families how to navigate safely online, how parents can guide and protect their children online. These are some of the programs we will begin to develop in our new media centre.

We also want to equip and educate our community through the media centre how to develop their careers, job finding, creating their CV and practicing job interviews.

Page 7

New World Mission Association UK

Trustees' Report for the Year Ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

We have begun to reduce and regroup some campuses, as we consolidate and strengthen the core teams again we hope to launch new campuses with clear goals and strategies.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of New World Mission Association UK for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 28 January 2022 and signed on its behalf by:

D Ravelo - Trustee

Page 8

Independent Examiner's Report to the Trustees of New World Mission Association UK

Independent examiner's report to the trustees of New World Mission Association UK ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Gareth Owen Hughes ACA Institute of Chartered Accountants in England and Wales Garside and Co. Limited Suite 631, Linen Hall 162-168 Regent Street London W1B 5TG

28 January 2022

Page 9

New World Mission Association UK

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2021

Notes
INCOME FROM
Donations and legacies
2
Charitable activities
4
World Link Ministry
Nets, Group and Encounters
Bournemouth Hostel
Israel Trip Income
Investment income
3
Other income
Total
EXPENDITURE ON
Charitable activities
5
Direct costs
Support costs
Governance costs
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
17
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
305,484
1,005
765
-
-
190
141,368
448,812
296,552
129,007
31,224
456,783
(7,971)
194,998
187,027
840,902
1,027,929		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
(194,998)
(194,998)
196,289
1,291		 31.3.21
Total
funds
£
305,484
1,005
765
-
-
190
141,368
448,812
296,552
129,007
31,224
456,783
(7,971)
-
(7,971)
1,037,191
1,029,220		 31.3.20
Total
funds
£
613,832
10,425
19,719
675
26,977
1,012
-
672,640
481,434
99,318
39,759
620,511
52,129
-
52,129
985,062
1,037,191

The notes form part of these financial statements

Page 10

New World Mission Association UK

Balance Sheet 31 March 2021

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors: amounts falling due within one year
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
850,145
51,387
203,529
254,916
(27,132)
227,784
1,077,929
(50,000)
1,027,929		 Restricted
fund
£
-
-
1,291
1,291
-
1,291
1,291
-
1,291		 31.3.21
Total
funds
£
850,145
51,387
204,820
256,207
(27,132)
229,075
1,079,220
(50,000)
1,029,220
1,027,929
1,291
1,029,220		 31.3.20
Total
funds
£
700,324
90,883
279,030
369,913
(33,046)
336,867
1,037,191
-
1,037,191
840,902
196,289
1,037,191

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 11

New World Mission Association UK

Balance Sheet - continued 31 March 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 28 January 2022 and were signed on its behalf by:

D Ravelo - Trustee

The notes form part of these financial statements

Page 12

New World Mission Association UK

Cash Flow Statement for the Year Ended 31 March 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
New loans during the year
Others-Gift Aid Recovered
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of the
reporting period		 31.3.21
£
25,576
25,576
(882,709)
692,768
(189,941)
50,000
40,155
90,155
(74,210)
279,030
204,820		 31.3.20
£
72,014
72,014
(692)
-
(692)
-
(2,257)
(2,257)
69,065
209,965
279,030

The notes form part of these financial statements

Page 13

New World Mission Association UK

Notes to the Cash Flow Statement for the Year Ended 31 March 2021

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the Statement
of Financial Activities)
Adjustments for:
Depreciation charges
Increase in debtors
(Decrease)/increase in creditors
Net cash provided by operations		 31.3.21
£
(7,971)
40,119
(658)
(5,914)
25,576		 31.3.20
£
52,129
22,962
(3,131)
54
72,014

ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.20 Cash flow At 31.3.21
£ £ £
Net cash
Cash at bank and in hand 279,030 (74,210) 204,820
279,030 (74,210) 204,820
Debt
Debts falling due within 1 year (3,675) - (3,675)
Debts falling due after 1 year - (50,000) (50,000)
(3,675) (50,000) (53,675)
Total 275,355 (124,210) 151,145

The notes form part of these financial statements

Page 14

New World Mission Association UK

Notes to the Financial Statements for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006

New World Mission Association UK meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Legal status

The charitable company is a company limited by guarantee. The members of the charitable company are the Trustees named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £10 per member of the charitable company.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Going concern

The trustees consider there are no material uncertainties about the charity's ability to continue as a going concern. The review of our financial position, reserve levels and future plans gives Trustees confidence the Charity remains a going concern for the foreseeable future.

Income

All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donated services or facilities are recognised when the charitable company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charitable company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charitable company which is the amount the charitable company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation and allocated to the relevant fund.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

Page 15

continued...

New World Mission Association UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES - continued

Expenditure

Support costs are those costs incurred directly in support of expenditure on the objects of the charitable company. Governance costs are those incurred in connection with administration of the charitable company and compliance with constitutional and statutory requirements.

All resources expended are inclusive of irrecoverable VAT.

Tangible fixed assets and depreciation

All assets costing more than £125 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property 2% straight line Office equipment 25% reducing balance

Investment property

Investment property are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard 102 and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the Trustees, necessary in order to give a true and fair view of the financial position of the charity.

Operating leases

Rentals under operating leases are charged to the Statement of financial activities incorporating income and expenditure account on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

Taxation

The charity is exempt from corporation tax on its charitable activities.

.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of financial activities incorporating income and expenditure account.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 16

continued...

New World Mission Association UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES - continued

.

Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed in the accounting policies above.

Financial instruments

The charity only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. DONATIONS AND LEGACIES

31.3.21 31.3.20
Unrestricted
funds		 Restricted
funds		 Total funds Total funds
£ £ £ £
Tithes & offerings 295,484 - 295,484 555,514
Net offerings - - - 2,430
Gift aid - - - 55,062
Grants from Council 10,000 - 10,000 -
Home and World Mission - - - 586
Building fund - - - 240
Total 305,484 - 305,484 613,832

In 2020, of the total income from donations and legacies, £613,832 was to unrestricted funds and £NIL was to restricted funds

continued...

Page 17

New World Mission Association UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

3. INVESTMENT INCOME

31.3..21 31.3.20
Unrestricted
funds		 Restricted
funds		 Total funds Total funds
£ £ £ £
Local investment properties - - - -
Bank interest received 190 - 190 1,012
Total 190 - 190 1,012

In 2020, of the total investment income, £1,012 was to unrestricted funds and £NIL was to restricted funds.

4. INCOME FROM CHARITABLE ACTIVITIES

31.3.21 31.3.20
Unrestricted
funds		 Restricted
funds		 Total funds Total funds
£ £ £ £
World Link Ministry 1,005 - 1,005 10,425
Nets, Groups and Encounters 765 - 765 19,719
Bookshop - - - -
Israel Trip Income - - - 26,977
Total 2,445 - 2,445 57,796

In 2020, of the total income from charitable activities, £57,786 was to unrestricted funds and £NIL was to restricted funds

5. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Direct costs
Support costs
Governance costs		 Direct
Costs (see
note 6)
£
296,552
-
-
296,552		 Support
costs (see
note 7)
£
-
129,007
31,224
160,231		 Totals
£
296,552
129,007
31,224
456,783

continued...

Page 18

New World Mission Association UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Ministerial Expenses
Missionaries including overseas
Worldlink - School of Ministry
Meeting places rental
Encounters
Ministers salaries
Administrative salaries
Staff welfare
Volunteers and misc expenses
Bournemouth Hostel expenses
Israel trip expenses
7.
SUPPORT COSTS
Support costs
Governance costs
Support costs, included in the above, are as follows:
Support costs
Sundries
Rent and rates
Light and heat
Insurance
Telephone, fax and internet
Postage, printing and stationery
Administrative expenses
Travel and subsistence
Bank interest and charges
Depreciation
Advertising
General repairs and renewals
Covid Related Support Expenses		 31.3.21
£
1,836
3,574
1,731
37,014
14
112,741
105,046
2,868
10,770
20,958
-
296,552
Support
Governance
costs
costs
£
£
129,007
-
-
31,224
129,007
31,224
31.3.21
Support
costs
£
1,909
9,904
4,357
7,516
5,016
3,487
5,878
699
3,377
40,119
11,568
7,969
27,208
129,007		 31.3.20
£
15,208
4,036
1,471
181,723
4,350
103,491
121,644
6,755
881
15,193
26,682
481,434
Totals
£
129,007
31,224
160,231
31.3.20
Total
activities
£
1,753
6,985
5,544
7,925
3,492
6,959
9,533
13,504
9,350
22,963
1,306
10,004
-
99,318

continued...

Page 19

New World Mission Association UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

7. SUPPORT COSTS - continued Governance costs

SUPPORT COSTS - continued
Governance costs
31.3.21 31.3.20
Governance Total
costs activities
£ £
Independent examiner fees 6,000 10,000
Legal & Professional fees 25,224 29,759
31,224 39,759
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.3.21 31.3.20
£ £
Depreciation - owned assets 40,120 22,962
Independent examiner fees 6,000 10,000

8. NET INCOME/(EXPENDITURE)

9. TRUSTEES' REMUNERATION AND BENEFITS

Trustees' remuneration are disclosed in note 17.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020 .

10. STAFF COSTS

Employee costs 31.3.21 31.3.20
£ £
Wages and salaries 206,819 213,820
Employer's NI 10,968 11,315
Total 217,787 225,135
The average monthly number of employees during the year was as follows:
31.3.21
Ministers
7
Administration
5
Finance
3
15		 31.3.20
7
5
3
15

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the charity comprise the trustees and directors along with the Pastors and Head of Finance. The total employee benefits of the key management personnel of the Trust were £120,000 (2020: £109,000).

continued...

Page 20

New World Mission Association UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME FROM
Donations and legacies
Charitable activities
Investment income
Other income-Govt Furlough
Grant
Total Income
EXPENDITURE ON
Charitable activities
Total expenditure
NET
INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds
RECONCILIATION OF
FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD
12.
TANGIBLE FIXED ASSETS
COST
At 1 April 2020
Additions
Disposals
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020		 31.3.21 31.3.21 31.3.20 31.3.20
Unrestricted
funds		 Restricted
funds		 Total funds Total funds
£ £ £ £
305,484 - 305,484 613,832
1,770 - 1,770 57,796
190 - 190 1,012
141,368 - 141,368 -
448,812 - 448,812 672,640
456,783 - 456,783 620,511
456,783 - 456,783 620,511
(7,971) - (7,971) 52,129
194,998 (194,998) - -
187,027 (194,998) (7,971) 52,129
840,902 196,289 1,037,191 985,062
1,027,929 1,291 1,029,220 1,037,191
Freehold
property
£
1,048,569
882,709
(693,398)
1,237,880
354,220
38,626
392,846
845,034
694,349		 Office
equipment
£
76,577
-
630
77,207
70,602
1,494
72,096
5,111
5,975		 Totals
£
1,125,146
882,709
(692,768)
1,315,087
424,822
40,120
464,942
850,145
700,324

continued...

Page 21

New World Mission Association UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

12. TANGIBLE FIXED ASSETS - continued

During the year, the company bought the Freehold Property at 78 Southwark Bridge Road, London SE1 OAS for £882,703 and in the same year, the company disposal off the Freehold Property (Borodale Hotel) at 10 St. Johns Road, Bournemouth, Dorset, BH5 1EL for £693,398

The trustees believe that there is a difference of £1,005,600 (2020: £1,005,600) between the total market value and the carrying value in the accounts.

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£ £
Other debtors 19,546 18,888
Gift Aid Recoverable 31,841 71,995
51,387 90,883
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£ £
Other loans (see note 16) 3,675 3,675
Trade creditors 2,880 2,880
Social security and other taxes 4,937 4,808
Other creditors - 3,044
Wages control account 640 639
Accrued expenses 15,000 18,000
27,132 33,046
15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.21 31.3.20
£ £
Bank loans (see note 16) 50,000 -
16. LOANS
An analysis of the maturity of loans is given below:
31.3.21 31.3.20
£ £
Amounts falling due within one year on demand:
Other loans 3,675 3,675
Amounts falling between one and two years:
Bank loans - 1-2 years 50,000 -

continued...

Page 22

New World Mission Association UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

17. MOVEMENT IN FUNDS

Net
movement
At 1.4.20
in funds
£
£
Unrestricted funds
General fund
840,902
(7,971)
Restricted funds
Restricted
196,289
-
TOTAL FUNDS
1,037,191
(7,971)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
448,812
TOTAL FUNDS
448,812
Comparatives for movement in funds
At 1.4.19
£
Unrestricted funds
General fund
788,773
Restricted funds
Restricted
196,289
TOTAL FUNDS
985,062
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
672,640
TOTAL FUNDS
672,640		 Transfers
between
funds
£
194,998
(194,998)
-
Resources
expended
£
(456,783)
(456,783)
Net
movement
in funds
£
52,129
-
52,129
Resources
expended
£
(620,511)
(620,511)		 At
31.3.21
£
1,027,929
1,291
1,029,220
Movement
in funds
£
(7,971)
(7,971)
At
31.3.20
£
840,902
196,289
1,037,191
Movement
in funds
£
52,129
52,129

continued...

Page 23

New World Mission Association UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 At 1.4.19
£
788,773
196,289
985,062		 Net
movement
in funds
£
44,158
-
44,158		 Transfers
between
funds
£
194,998
(194,998)
-		 At
31.3.21
£
1,027,929
1,291
1,029,220

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,121,452 (1,077,294 ) 44,158
TOTAL FUNDS 1,121,452 (1,077,294 ) 44,158

The purpose of the restricted fund is to ensure that the funding is spent on specific projects designated by the funder.

The Pro Building fund has been raised to help with the purchase of a building to hold the Sunday services and also to continue the Charity's other activities. The total cost of an appropriate building is estimated to be between £1-2 million. The funds received in the year have been placed on deposit until such a time when there is sufficient funds to undertake the purchase.

The Charity is reviewing where it can receive the best return on these funds.

The funds held for Missions are to assist communities overseas. One of the projects in our charity is to open new churches nationally and internationally, the income received from our members is to help subsidise those missionaries who open new churches around the world.

Financial instruments

31.3.21 31.3.20
£ £
Financial assets measured at amortised cost 51,387 90,883
Financial liabilities measured at amortised cost 27,132 33,046

Financial assets measured at amortised cost comprise trade and other debtors and accrued income.

Financial liabilities measured at amortised cost comprise trade and other creditors and accrued expenses.

continued...

Page 24

New World Mission Association UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

18. RELATED PARTY TRANSACTIONS

During the year, two Trustees and one Director received remuneration of £32,668 (2020: two Trustees and one director amounting to £29,000), for their work performed towards the charity's objectives.

Three close family members of the Trustees received remuneration of £57,641 (2020: £58,000) for their work performed towards the charity's objectives.

Two Trustees and one Director received reimbursement of expenses amounting to £Nil in the current year (2020: Two Trustees and one Director £Nil). Reimbursed expenses relate to activities in the year to achieve the charity's objectives. Activities in the year are detailed in the Trustees' Report.

Donations of £10,000 (2020: £6,000) were received from trustees and close family members during the year.

19. ULTIMATE CONTROLLING PARTY

The charity is under the control of its Trustees.

Page 25

New World Mission Association UK

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
31.3.21 31.3.20
£ £
INCOME
Donations and legacies
Tithes & offerings 295,484 555,514
Net offerings - 2,430
Gift aid - 55,062
Grants from Council 10,000 -
Home and World Mission - 586
Building fund - 240
305,484 613,832
Investment income
Bank interest received 190 1,012
Charitable activities
World Link Ministry 1,005 10,425
Nets, Groups and Encounters 765 19,719
Bournemouth Hostel income - 675
Israel trip income - 26,977
1,770 57,796
Other income
Government Furlough Grant 141,368 -
Total incoming resources 448,812 672,640
EXPENDITURE
Charitable activities
Ministerial Expenses 1,836 15,208
Missionaries including overseas 3,574 4,036
Worldlink - School of Ministry 1,731 1,471
Meeting places rental 37,014 181,723
Encounters 14 4,350
Ministers salaries 112,741 103,491
Administrative salaries 105,046 121,644
Staff welfare 2,868 6,755
Volunteers and misc expenses 10,770 881
Bournemouth Hostel expenses 20,958 15,193
Israel trip expenses - 26,682
296,552 481,434
Support costs
Support costs
Sundries 1,909 1,753
Rent and rates 9,904 6,985
Light and heat 4,357 5,544
Carried forward 16,170 14,282

This page does not form part of the statutory financial statements

Page 26

New World Mission Association UK

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
31.3.21 31.3.20
£ £
Support costs
Brought forward 16,170 14,282
Insurance 7,516 7,925
Telephone, fax and internet 5,016 3,492
Postage, printing and stationery 3,487 6,959
Administrative expenses 5,878 9,533
Travel and subsistence 699 13,504
Bank interest and charges 3,377 9,350
Depreciation 40,119 22,963
Advertising 11,568 1,306
General repairs and renewals 7,969 10,004
Covid Related Support Expenses 27,208 -
129,007 99,318
Governance costs
Independent examiner fees 6,000 10,000
Legal & Professional fees 25,224 29,759
31,224 39,759
Total resources expended 456,783 620,511
Net (expenditure)/income (7,971) 52,129

This page does not form part of the statutory financial statements

Page 27