REGisfERED COMfANI I. lilIBER. D.7346i22 IEnxlAnd and Wale51 REGISTERED CIIARITI, liI,'MBER- 1112203 Trnsttts. Report and Lnaudited Fin9nci¥I Siatements for the Year Ended 31 hlarch 2023 for Ple* l¥'orld 1%11551011 Rlssocialion I'.K (A Companv Limited by Guarantee) Gar5ide and Co. Limiied Suite 631. Linen Hall 162_168 Regeni SLreet London WIB5TG
New World Mission Association UK Conittits of the Financial Statem¢nl$ ror the Yexr Ended 31 March 2023 Page Reference and Administrative Details Trustees. Report IndependeDI Ex#mitter's Report Sixtemtnt of Finantil Activitie5 Balance Sheet CAsh Flow Staternent 13 Note5 to the Cash Flow StatemeDt 14 Notcs io the Financial Statements 15 to 24 DetAiled stateCt of Fin#ci*l Attivities 25 to 26
NEW WORLD MISSION ASSOCIATION UK Reference .AdministrAtii'¢ Det#il$ FOR THE YEAR F.YI DED.11 MARCH 2023 TRUSTEES J I Bedoya Martin D Ravelo N Miguel A Vinasco A ToJTes COIMPANY SECRETARY REC.ISTERED OFFICE 78 SouthwaTk Brid¥e Road Lolldoii SEI OAS REGISTERED cof*XPANY NUMBER 05346522 (Engl)nd and Wales} REGISTERED CIIARITY NUMBER 1112203 INDEPEf4DEF4T EIllNER GaTside aTKI Co. Limiied Suite 631. Linen Hall 162_168 RegeThi Street Londo WIB5TG Page I
P4EW WORLD.MISSIOY ASSOCIATiofs' UK Trustees. Report FOR THF. YEAR EINDED 31 hlARCH 2023 Th¢ Tnjstees presertt th¢ir annual r¢p)n togthr w]th the indetthdent examincr rcFOrt of thc fiTcial statements foT the year l April 2022 10 31 Mai¢h 2023. Since the charity qualifics 85 small ur)der se¢tioTh 383. the strategic rew>rt required of tnedium a]kl large companies under The Companies Act 210 (Strategic Report and Di[105 Rep)n} Regulaiion$ 2013 is noi require The Chariry a]so trades utmler the name EWMA. OBJECTIVES ATriD AcfiviTIES Policies and objeclives 'I'he 1'ruslees contitm ih)t when reviewing the Chariws aims. aTKI planning the objectives aJKI actiltieS. they have had diie T¢¥ttrd lo ihe Chariry Commission's guidance on publi¢ bertfii and its partictslar the stspplcjncniary guidan¢e regarding the advancement of religion. Thc obj¢ctive5 of the ChaTity ajr sei olli in goycrning documcnt a1 can be su[nMaris &s'. * Ti)c advanccffient of th¢ Chnstian Faith: + Relief foi those in need, hardship or distress,. and * Tl)e Jdvanccjneni of educaiion on the b&sis of Cljtislian PTinciplfS Oiir currcnt prin¥tpal aims ar¢ to be.. A Mission Church.. to communicat¢ the lov¢ of Christ ix)th lo¢ally and globally . A Model Church.. io ¢ontinue w develop a mti-rac1al. muiti-age community that demonstraies the Kingdom of G¢xl as taLighi in ihc ncw resrameni . A Multipliuiion Churih.. to ¥ear for ot)-going growth in the UK and overseas . A Media Church.. to create[Y e ail modem methLMLs of COnu1ca1io Objective5 for 2022121b23 Iii essence. our god15 fvT 2(J2212023 Is a continuaiion of the goals ofthe previo8 year. namely- Tu t)ev¢lop stronger devoliiM]al foutjdation thn)ugh times of ptayer and f&%ting: and pro8iatntne of Bible reading for Church members . To develop sironger Icadcrship foundations . To Jcv¢lop greater pastoral care through the netwolk of groups that the thurth has . To develop our provision of CQTnfort and supwkrt for th¢ b¢ieav¢(L hurttng and nrgiNall5¢d • To conliniie the developmeni of our mini2trieÈ io the Youn and old. and Maled and siiigrles . To support the developmeni of family life both wiihirt the ehurch and in lttal cotntnunitie5 For Siinday att¢ndaThc¢ and church atlendance ihroiigh 5fftall groups 8row and exter. crtaiing morc Sunday Servite Community d¢%ire 10 continue sernirtg the l(xal commurtilies Strategies for achieving objectiYe5 The strategies for aLhiei'ing the aims aThl objettives ate set out In the home small groups vision dcveloped by many churches around Ihe WQTid with many huTKireds of thousaniLs ofmemtrErs. Inspired by ihe remarkable growth and qiiality of this N'isio]L New World Mission Associaiion kn adopied the small groups ViSiOEJ. The swalcgy is based on Chri51's example of training dixipks who would in turn make furthcr disciples and is a four-siep process". Il'lIN new believeT$ through p2t50na] friendship as w¢ll as through invitations to leam of the Chtistian me55age in public scrviccs and in smaller group mcctings- . CON8OLIDATE {atTim) in Ihe faithl new Christtans - ijii]tiwing them in their faith and supp)rting theni with care and coun5cI., . DISCIPLE lor Inin) klievers Èn the Christian Life through 5mall'di5cipleship' grow)s and the's¢hool of leaders, and . SEND lor launchl Chrisila it)lo leadership- reprLKlucing what they have expeticnccd Activities for achieving •bjectives Thr Chority Tuni ItKal Jriiyiiics as wcll a5 aCti)IiiC5 furtkr aftcld in parts[shIp wi1 othcr orgallisaiions.. Pa8e 2
NEW M'ORLD.MI&SION A(lATION UK Trustees, Rtport FOR THE YEAR ENDED 31 hlARCH 2023 OWECTIVES AND ACTIVITIES LOCAL CHURCH AcfiviTIES Sundav Service We have 6 s¢rvic¢s in 6 Iwaiions, we are one church with manyrampu5cs. we have our. Pimlico Campvs on Lupus StrttL Pitnlico Academy. SWIV 3AT. this catnpus holds bilit)gual setvice (Spanish ld English)- Central CampLS at Angel Ve Cinem& Screen 6, 36 Parkfiel StreeL NI OPS. English-speaking Campus", Straiford Campus, London Academy of ExcellencE 322 High Streel [15 IAJ, this carnpus hol¢ls bilingual servic¢ ISpat]ish and En¥lish)- man House Campus. Skinners Academy. W(MMJlw GJDv< N4 ISY, this carnpu5 holds bilingual seiCe (Spanish and English) Flephanl AtLd Casilc Campus, Southbank Atademy, Tra[alr StrecL SE17 2TP. this Campus holds biliRgual s¢rvi¢e {Spanish gnd English).. Berniondsey Campu5, City of London Academy. LJTrlon Road, SEI SLA, this campus hold5 bilingual service (Spanish and En¥lish): Each campu5 has chilthen's progrdm and iranslalion Inlo English or Spanish simulianeously stage. Communitv Groupsl C Group5 Our small groups are kno. as ¢ells, as rhe Bjble refe15 to ihe church &$ a tK)dy of believeT5 and the cell is Iht b&8ic component of rhc bo(ly. Sinall groups "cells- Iirc operi to Chnsiiarts and nonQhri5tian5 olikt Iv Icarn about Ihc l¢a¢hings of Jcsus There are cclls for all aocs." ¢h51dr¢n. youth and adults. Wc also ntn th"sciplcship cell gTOUPS whi¢l) eonsisi of up 10 12 church mcmbcrs who tommiiied io suPrt and ¢ncourage each other in their ChrtsliaD Iiiies. Retreats F.ncounier weekends, pre-En¢ounier and posi-Encounler are for anyone who has decided t(> join ihc churcl). Th¢y lottn Ihe corc of our 'consolidation' stF2iegy, cnabling Feople lo have a rcal cncounter with (i(xJ, 10 ¢n5ure th have a clear Ullder5tsndin¥ of the Christiaji tsage, be sd free fwm hwts and leatn Iiow thc ¢hurch Orrai¢S and how to fuid theii place within it. L¢#dership training and World lithk Mission School 'IThc 'School of dT%¢iples' is run lo provide a thorough grounding in the ieachings of ihc Biblc and traiii Chrisiiaiis to ruli their own small 8roup8. C13Lses are once a u'eek and the sthwl last a mininium of a y¢ar_ This is 2 eore pan of the 'Di5ciple' strniegy. In addition we ihe 'World liith mi10 School. for those who want to advancL thLir studies, dii8 is also Irainitig for those thai are preparing fly the pastoral minis. atld th0 WI are opening new churches within Our netwvrk within London and inl¢TnatioTrally. BaplT5m strvites CCL yearly liold bapiism services, these are for new membus who have made a decision 10 be a disctple of Je5U5 ChrisL we hold the baptism s¢tvice at differcnt venu¢s (Baptsst ¢hur¢h'sl. Media We have a small rncdia Icam that is Com)sed of stsff and volunteers, they help through 5wJal tnthlia and cliurcli web patse updaic atjd inform all that thL Church is doino a¢ross the campux% w'e also pul thc Sunday scrnion5 onlin¢ for thos¢ who c&t)'t attcnd Sunday SL'rvice. Wc have also improviTh8 CHURCH ONLINE, a Christian live streaming service by social Tndi4 Fdcebtx)k and YouTubE. Evangelism on ihe Streets Leadcrs of ilie cliurcli program a weeked oDce cvery month atN)ut 60 leaders and nmIS go to help Ihe poor aiid [na[gi]is¢d by giving fLx)d alld ¢lothing and conneci them with organisation thai ¢an help them to find accoTnmodaiioii dnd Louiiscl. Page 3
EW WORLD MISSION ASSOCIATIOli UK Trustees. Report FOR THE YEAR EiSDED JI MARCH 2023 0ECTIVEs APID AcfivITIES Seminar5 and conferences CCL LliurLh will Inviie guts¢ sp¢4kets throughout the vear to build up the congregation H'ith scmiTMrs and COnfen¢¢5. these wtll be held ai ditTereni times of the yeat and will f(Kus h¢lping build up the men's Detwoik. womeji's neThvork aDd youth and children'5 network. CCL will COV the costs for th¢ sF¢ak¢ts for these serninars arml conferences. Churches and Mi55ions The Church provtdes pasioral ovetsighi to churches in Spaitk. Ecuador. C4>lumbia artd Peru, we work closely on the development and activitie5 of those churches and missions. The Charity )lso send5 dclegatcs to pathcipat¢ #nd speak in Ihese ¢huTclies and missions. Ecuador We coniillue lo hold a building for our church in Quito, Ecuador. However, for the sttk¢ of pd¢ce w¢ havc dccmed it Irtappropna to h)ve the value of this building slmiwing In lh¢ a¢¢ounts until legal owncrship is fully SttUTcd. The legal costs for the year asgociaied with the Ong0g pr(Kess of seeuftng owneTShip constitut¢ thc bu]k of the legal and professLonal fees stated Jn ihe accounts. Page 4
NEW M'ORLD MISSION ASSOCIATION UK Trustees, Keport FOR THE YEAR EYDED 31 MARCH 2023 OWEcfivES AND èicfiviTIES Voluntt¢r$ All tliL charity's 2cliviiies are faciliied in some respeci by dedIcad v01wirs. severnl htsndred of whom give their iinie 10 a5SiSi in Some way- for example fi]IfJllane a tole in our Sujiitsy service, annua] conferejice, assisiijig in the church office OT WOTking with children youth. Public benefit The Ttusiees haye considered the Charity CoTnmisionet< Guidan¢¢ on Publi¢ Benefit atHJ. irk particular, the SFtcific guidance OD Chantjes for Advgn¢¢meni of Reliwon gnd is satisfi¢d that the activ5ts¢S of New World Mission Association UK fall wiihjn such guidance_ ACHIEVEMENT AYD PERFORMANCE The following 15 a sumtnary ofouT achievetnents For the yeat eTlg 3110312023 School of dL5riple5 The school of djsciples now an averdge of 50 students every trimester- an improvemcnt on last year. School disciples Th¢ s¢hth)l of di5cipIcs [W h&$ ath average of70 sThJdenis every tnmester- an improvemcni on last year. Medt2 W¢ have improvcd our websiic and coniinuc ro strcam the Sunday seTr'ice in foul of our catnpus online. Now that we gather physically we Continue 10 upload thc Sunda) messagcs through Sound cloud so ihai Ihe membeTS )nd new people can have aeccss io the message5. May of the home groups still meet weekly online through the zoom platfom). We are working in improvi118 OUT social media pr¢s¢zJc¢ ¢very week and are planning kn tske it to the next l¢vel as w¢ understand the iniportance of tliis {see Futuie Plans below. 1is51011$ We 112ve a CIJuTLh in Ecuador and also 5 chutches in SFHin. Tht Chthrhes do ditTercnt activitics such as WklY meetings and retreais and Ihe annual confemKe this is io help the growth of the Chuich. We have i)pened two wells in Nigcria ihi5 ycar and plan to opth more wells in ihe futurc. Our Church in IA*ndo Wc havc six camp115cs whete we gather the Church every Sunday. We cutrently have approximaiely 800 men)bers cross Ihe six Campuses which m&ins we n73inlained rnosi ofour memb¢rs durin¥ the diificull limes of Cov2d. The Church also tneets In small groups every week. we hav¢ alx)ui LIMI Small wups. Encounter retreat5 CCL ¢ncount¢rs we held at Outsource hotel thjring the year. We had a total of10 en¢oun¢ers dwing the y&w. Tot21 people baptiscd During Iht year IIMJ pcoplc wcre baptis1 FINANC.IAI. REVIEW Fin#n¢Èal sunjmar) New World Missioii A5SO¢iation UK INEMMA UK) ended the year willi a deficit oji general funds of £142,385 (2022.. £2,766 surplus ) the details of which can be 5¢en in the athtsexed fanCIal 51alements land noicsl for the periiKi. The T1¢¢5 are very I1)kfi)I lo all the rnewnbers (2nd oiher siakeholdetsl for their coniinuous geTreiosiry whtch eii¥bles the ChiirLh lo mainlain it's amy of aciiviiics in IhGE¢ thttllengirtg iimcs. Page 5
NEW WORLD MISSION A&SOCIATION UK Truste¢s' Reporl FOR THE YEAR EINDED 31 MARCH 2023 FINANCIAL REVIEW Reser¥e5 polie Thc Board of TTuses has examined the Charity'5 requiTEments for Teserves in lighi of the main risks io the organisaiion. Our current policy is to aim 10 mainiain ai least three tNthS of all expenses. B&%ed on the iothl expendillt i 202212023 this is in the region of £164,793 12022.. 149.(KKI). At th¢ end of 31103n023 the charity held fr¢e ush TrVeS of £67224 12022-£194,1271. The Charitgs main asset is a fre¢hold building which is largely uneneumbered and could be ulilis¢d to provide 3dditson liquidily if TeqUjT¢d. Notwithstanding t"5 we focused on building up cash rcscrvcs gojng fonvard. Going concern Aftcr making appropriale enquiri¢s. th¢ tru5t¢¢5 havc a rtay>nablc cxpccthtion thai thc ehariiy has adcqualc resour¢¢s to contiDue In operation21 exisience for ihe forcieeable fuDJre. For this reaTr they Continue to 3dtspt the going Concetn basis in preparing the financial 51alemetLts. Further detsils regarding the adopii4M) of the going eonLYm basis be found in the A¢¢ounting Poli¢ies. FtrruRE PLNs We are working 10 rLlaunih the 2022 ChurLh Vision as we tK)w seeing niorneniuni of new and tEgulaT men)krs. Thi means we need to double dow on ¢ommuni¢atin¥ aTrJ ¢larify"Ig the vision ofour chureh_ We are looking for new PtlSe$ whete wt ean also hold Churcli setvices as well as do other aciiviiies like hold departmenial meeting, worship rehearsals and building OUfWOT5hip and tncdia niiT)istyics. TheicftsTe, we intend to launch a fllnilrdising Campai io an appropriare building. Th¢ campaign may include csiablishing a ncw building fund and s¢lling the Etuadtsrbuilding. Another strategic obj¢dive is to fither strengthen the Media departtnent tts. not only to tter prOT)te our church and it's [nIlOn in Ihe UK 2nd abr()art bui 21s() to promote speeific I2[ communiry training and ini¢mship progratns. Such programs include initiatives like Ceer developmeDI projeLts {e.8. seeking. ereaiing Cvs and pracii¢itLg job intet¥i¢wsl and educating families on how io navigaie online safely_ STRucfiFRE, GOVEILYANCE AND MANAGEMEfiT Governing docujnent Th¢ thzrity is tontrolled by Jts govtming docurtn4 a deed of a4 consijthies a liwnit¢d company. limited by guarantec, as dcflncd by the Companies Act 21X>6. Consiilution Ncw World Mission Aswialion is a tLon-denomJnationa] church basd ID Lon(lon UK. The Chariry is governed by ihe slees and registered with the Charity Commission.. Charity NumE¢r l 112203. New World Mission A$)c1allon UK is registerd also as company. Company Numlxr". 5346522. The Charity w&$ inCorrated on 28ib January 215 and is govemed by a Memornndutn and Articles of Association. ThL A&sociatiota wtss rewsieied with the Chlty Cornmi55ion on ihe 2?nd Novem 21)05 in accordance with the Charities ACL New World Mission Associ21ion is a ch11bIt In1 arKI is rnn by a iK)aid of Trusiees. Oiir Objeeiives lo advance the Christian Faiih and educion in Churehes estsblished and maiiitained by Ihe Chariiy, to teach an PTcpaic MissioleS, to organise cotnrnunity and social wotK lo relieve for tijose in need, hardship, distres$ 01 poverty within the United Kin¥dom and Ihrougboul the World. Method of appoinlrnent or clertio of Trusltts Trustec5 may bc 3ppoinLcd by a fotn]al nornth1 of spiritual leader5 of ihe Church. TnJ$iees rnu51 be a member of the church and accepl the doctrine of the Church. Truste arc appointed in actoithnte with th¢ provisions of Ihe Anicles of the Charity and with reference io the ASsLa11011'S Govemartte Poli¢y. Pulicies adopted lor Ihe induclioTh ADd trAiDing ofTru5tee5 Ti)e Tru%lee5 aTe requiTed io i¢ad the Charily Commissiotb guidance 'ilK effective TtlLs*e" and encoulaged io read their other publicaiion5. Page 6
.NEW W'ORLD D+lISSION UK Trustees, Report FOR THE YEAR EDED 31 MARCH 2023 STRUC"fuRE, GOVERNANCE Af*D MATr4..IGEMENT Paw policv for senior slaff Thc ¢liaTltv lia5 considcrcd its p)licy fgr 5eiting thc pay and Muneral10 of the charity's key managcmcni ]sonnl. This i5 based on past ¢XP¢Tience and levels set by similar organi5ations. The tle£S iogether with the minjster are working ort a new policy for ministcrs aNI church leaders. Organisatllbngl structure and decision rnaking The sirniegic decisio% of die chariry are tsk-en by Ihe Board of Ttustees. The Boaid of Ttusiees oEmie collectively with the Ex¢Llltiv¢ Manag¢rTr¥ni and DIF¢rlvrs. 10 ¢thsider specific subjects and make recommendations to the Board. Spiritual leader5 The Spirittjal leaders of the church conipromisc the S¢nioT Pastor iogethct wjih ¥ team of twelve tnen aiid Iwclvc womcn who oversee the pastoral care of chiwch tnern. th¢ progTamrn¢ of Chti4ian t¢aching and providc spiritual dircction to the church. Thc trusiees rccognise that thc spiritual IcadcT5 th¢ spitttual authority of the chu]rh. The sp1rinl IcadcTS recogni5e thar the TtU51ee5 are the Custodians and administrators of the funds. The mL5tees l)ave th¢ responsibility to Idministcr tlie tnl funds. whirh th¢y Mill widtttske irt fvll rteognition of the spiritual guidancc provide43 by th¢ cliutch's spiritual leadets. Having assessed the pr2ciical iniplicauotLs involved in fvifilling tbe spiritual direciion given by the churcli's spiritual leaders, th¢ trusl¢e5 creat¢ and maintain". . AccouL)ting structur Palicy staletnents . Reporiins structures Working practices Page 7
NEW WORLD MISSION ASSOCIATION, UK Trustees. Report FOR THE ENI)ED 31 MARCH 2023 STRUCTURE, GOVERNAh'CE AND MANAGEhlENT Risk Man#getEJent Tli¢ lrnsiecs have recognised the importance of a$$$Ing and manallg nsk &ss(iaied with Chanty's objectjves. process of identifying rjsk is ongoing and has been an esseniial part of the managemerti foi some years. The Trustees #r¢ iTnpl¢rt5enting sysms to enswe identification, managemeni and d(Kumenthtion of foreseeable risks. GowerNanrt risks Trusiees may require more time to hav¢ itHkpth teviews the ¢hatity. PlaTlg ahead for the yw with th¢ Trusrees at all the me¢tings redu¢l risk. Operational risks Ina(l¢quale sLiff being employed tould lead to mistakes lg made. This risk is mtgiated by sending those thal are working for the charity 10 training sessions atml Semi to k ttter eqUipd. Financial Ta5k5 Don8t)on5 could decre35¢ leaving the ChaTity short of fi5. Th¢ ty to create new ways for pwplc to give to thc Chanly, online or by post OT standing order for. External Risks Change.% In Cjovernmcni policy or the economy fmcmaiing could have an 8(fvetse eff on the Charity. Thc Chariry can ke¢p b¢n¢fi¢itiFies Infom)eil how these ¢h#nges ¢an effe¢1 them. The Chatity ¢¥D I(Mik at ways io prepare for th&%e chwiges. Dirtitors of the charity will hai'e "Going ¢onc¢m and liquidity ris.. GUidae for Directo of UK Companies 21x19" fTom the Finhnrial R¢w>rting CourKil. DJTertors and Tru¢¢5, will have di5CUs5ions earlier in the year 10 help mjnimise any risks io the chariry before the reporting JKn(Ml. Compliance with Laws and Regulation$ Not hJkin¥ suffi¢ieni informaiion Vé"heD STarting new prtsjrfts in the ChaTiry could lead to non-complianee. The Charity nccds lo always look ai ncw ways to help and give to ncr*Iri in the community {and further oiitl, but there must bc legal advice Vdken before a new projeci Ès tsken onboar W¢ ai¢ continually reviewing and rnaking sure all dO[li0S are rwrned. main ofrerin¥s are ¢ollecia on Sunday and kept secure on Monday momin8 and banked ott the same day. All our tell group5 that colle£1 offerings also have Teports Ihai arc given ai Church offiecs of all thai h&$ bttn eolle¢ied weekly. S9feeuardine Poliey bafeguaiding poljty Js #irned 3t PTofr¢ting TrvEnmble children or adulrs from ab and neglect in all circumsiatites. Thi5 inLludts all piocedllres designed 4> preveni harni. also refejs io the process of protecting childrcn and adults - by providing safe and effective care. All our employees a[ volwite¢rs work under t1 guidance 8t a¢cordit)g the Safeguarding prevention 8overnmeTht p)licies and under the The Di&lOsu and Barring Service {DBS} checks. ££ Approved by order of th¢ board of on.............. ..... . and Sid on its behalf by: D Ravelo Tn]s ee
IndepelldeDt knmiDer's Report tt) the Trusttts of Ntw Worfd Mission AssociatlOD UK INdepeDdenl examiner'5 report to the trnstees ofNew Mission Associatio UK ('Ihe Company'} I report to the charity truslees on rny ex2minaiton of the accounts of the Company for the year ended 31 March 2023. Responsibilitie5 and ba515 of report A5 the charity's trustecs of the Company land also its direorS for the PUTPOSC5 of compaThy law) you are resp0115ible for the prcparntion of th¢ awounl$ 5ll aC¢QTdanc¢ with th¢ rquircmeTrts of the Companie5 Act 21x16 {'Ihe 2(N)6 Aci'}. Havintr saiisfied myself that the accounts of the C4>mpany are not required to be a1]1 under Part 16 of the 21)06 Act and aTe eligible for indcpcndcnt Cxamination. l Tepon in t¢sr1 ol my cxaminalÈon of your Charity's aceounis as carried out under Section 145 of the Chanties Act 2011 I'the 2011 Act,). In carrying oui my examinatio I have followed the Diieclions given by Ihc ChaTity Con]mission under SecLion 145(5) Ibl of the 2011 Ael. Independent examiner's sttemeni Since your charity'5 g?T05S income excee £250.0(h) youi examiDer must be a nthber of a listrd body. I can confirni Ihat l an) qualified io undert2ke the ex&m2naiion betause l am a member of the InMilu of CbarteTed A¢couniants in England and Wales. which is one oftht listed b(Nlies. I havc cotnpleled tny cxan)Itln. I confiFm that rnJtler3 havr to my attention in connection with the ¢xaniin8tion giving me cause to b¢li¢ve'. couniino records were not kept in resrrt of the Company as required by Se£rion 386 of the 2(KK> Act,. or the accounts do noi accord 1th Ih(k I¢¢OTd& or the 2t¢ounts do noi eomply with the ¥tounling requirernetjts of Section 396 of the 21)06 A¢1 other than any rquiremeni that the accounts give a tyue and fair view which is noi a matter consideTfyJ as part of an in(l¢p¢nd¢DI examinalion" OT the acLounts have not ken prepared In accordance M'ith the methods and principles of the Sralcmcnt of Recommended Praciice for accouniing and reporting by thariiies {applicable lo chariiies J)reparing Ilicir accounts in accordance with the FInala1 Kqrting Siattdard applicable in ihe UK and Republic of Ireland IFRS 1021). I have no conc¢rns and have conK across no other mallers in conneciion with the txaminalion io which atIOn Should be drawn in this re]x)rt in order to enable a proper understhndin8 of the accnts io k reached. Gareth Owen Hughes ACA The Institule of Chartered Ac¢ouDtsnts In England athd Wales GaT5ide and Co. Lirniied Suite 631. Linen Hall 162-168 Rcgcai Stycci London WIB5TG Date.. Page 9
NEW WORLD MISSION ASSOCIATION UK Statemeni of Finantial ActiTritie5 oDcoOrating aD Incorne and EAptndiiure Account) FOR THE YEAR ENDED 31 MARCH 2023 31.3.23 Total funds 31.312 Total furids Unrestritted fi]nd Resrricied fund Noies IN'COME FROM Donation$ 2nd legaci 6(Y),963 609.963 553,890 Charitable activitie5 Chunh Aillvlties 9,854 9,854 616 Investtnent ii]come Oihcr Income 22 17 42.489 Tot41 619,839 619,839 597,012 EXPENDITURE ON Ruising funds Rdising donaiioNs and legacies 4,591 4,591 4,920 4591 4.591 4,920 Charitablc activities Church Aclivilies SuptKTrrt costs 599.389 158244 599,389 158,244 425,730 163.596 Total 762224 762,224 594246 NET INCOMEI{EXPENDITURE) {142.3851 (142,3È5 } 2,766 RLCONCII.IATION OF FUNDS Tothl fund5 broughi forwaTd 1.030.695 1291 1.031.986 1.029,220 TOTAL FUNDS CARIUED FORWARD 888.310 1.291 889.601 1.031.986 The noies fomi part ofthese financial staiemeDIs Page 10
NEW WORLD MISSION ASS(KIATRON UK BalD¢e Shed- tontittued 31 MARCH 2023 Thes¢ financial statements have ktn prcparcd in acCordae with thc provisions applicable io thaTitsble conipanie5 5ubjcci to the small companies [C[ne. na ial siaiements were approved by the Boatd of Tnjstees aTKJ authori5¢d for issue ..1.3................ and wert SI¢ on itsha]rby.. on D Rav¢lo- The no$ fomi part of thes¢ fiTwKial stsi¢m¢nts Page 12
NEW WORLD MISSIO ASSOCIATION UK Balance Shec¢ 31 MARCH 20?3 31.3.22 Toial rllnds Unresoicied furvj Restricied rwid Toial FU1$ Ne5 FIXED ASSETS TOngble assets 13 821.086 821,086 836,567 CUIiRENT ASSETS Debiors.. aniounts falling due wiihin one y Ch at bank and in hand 14 19.136 98.3fA) 19,136 99.651 65,652 194,4.$0 .291 117,496 1.291 118,787 260,102 CREDITORS Amthunts fJlline due within one year 15 (24.458) (24,4581 {29.262) NET CURRETr4T A&SETS 93.038 1291 94.329 230,R40 TOTAL.4SSETS LESS CURRENT LIABILITIES 914.124 1291 915,415 1,067,407 CRLDI"I"ORS Amounis fallinbt due &ftei mote th&n one ycar 16 (25,814) (25,11141 {35,4211 NET ASSETS 888 J10 1291 889,601 1.031,986 FUNDS 18 Ujircstrictcd funds RebtTicl¢d tunds 888,310 1291 1,030,695 1,291 TOTAL FUNDS 889,601 .031,986 Thc chi¢ rilahlc company is cntitlcd to cxLmplion fnmi audii under Section 477 of colPanieS Aci 2( for lh¢ year ellded 31 March 2023. The nienib¢rs have not required Ihe company io obtain audil of its fjnancial stsicmcnts for ihe year ended 31 March 2023 in aecordance with Section 476 of the CoMp3]]S Act 2IM)6_ The trJsle¢s a¢kno.1CdgC their rpOnsIbl11&s for lal ensunn¥ ihLi Ihe chaTJlable company keqbs accounling recor& that eomply with S¢cliotb5 386 and 387 of the ConiFYanie5 Aci 20(16 and prL'ptiTing financial sliTrlctnents which givc a Iruc arml fair view of stsi¢ of affaits of the cliaritable company as ai tlie end of each finantial ytsr apd of it% surplus or deficii for each financi year in accordanc¢ with the requir¢m¢nts of SectiorLs 394 and 395 and which oihc]wise c¢)mply ILNuircmcnts of the Companics Act 2(K16 relating io financial sratements. so faras applicable to the charitable company. Ibl The notes foTtn part of these financial ststements Pag¢ll continu¢d...
IYEW WORLD 115510 ASSOCIATION UK Ca5b Flom" Statejllent FOR THE YEAR E.NDED 31 .MARCH 2023 31.3_23 31.3.22 Not¢5 Cash flows from opersiiog llctivitit5 C85h g¢ncraicd from Okxrations (99,7321 {7.669} Nel cash us¢d in operating activities (99.7321 {7.669) Cash nows from investing actii'itie5 Purchase of iatjgible fixed assets (5.715) (7,1381 Ncl ¢ash us¢d In Jnv¢stJng lIVitI (5.7151 17,1381 C2$h nthiY* (rorn finanting Xdivities Loan TepayTrients in year 10.048 4,437 Net cash piovided by financing actitieS 10,648 4.437 Chdnge in tash tash e4uivAlents the reporting period Casli and casli equi%'alen15 31 the beginnillg of the reporting p¢ri(bd {94.7991 110,3701 194.450 204,820 Cash and cash equii'alents at the end of the rÈporting period ,651 194,450 Th¢ not¢s fortn part of tbcsc finala1 ststthiettrs Page 13
P4EW WORLD MISS10Tr4 A&SOClATIOPi UK Notes to the Cash F]tbW Staternent FOR THE YEAR ENDED 31 .{ReA 2023 RECONCILIATION OF NET (EXPENDITUREVINCO,ME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.23 31.3.22 Net lexpenditureyiDcome for the rq>orting period las per ihe Statement of Financial Aetivitie51 Adjuslmen15 for.. Dcpreclation charges DeLreascl{incrcase} in debtOTS IDccTeascyincrease in creditOTS 1142.3851 2,766 21,195 46,058 124,6001 20.717 146,106) 14.954 Net cash used operations {99,7321 (7,6691 ANALYSIS OF CHANGES NET FUNDS At 1.4.22 Cash flow At 31.3.23 Net cgsb Cash ai bank and in ha] 194.450 194.7991 99,651 194,450 194.7991 99,651 Debt Debiy falling due within l year Dcbts falling due after l year (10.647} (35,421 } {10.6471 (25,8141 9,607 (46,068) 9,607 {36.4()1 I Total 148,38? (85.1921 63,190 The notes foTm Part of these financial sraiements Page 14
NEW WORLD MISSION ASSOCIAT10Tr4 UK Notes to Ihe Tr'inancial Ststernents FOR THE YEAR b:liDb.D 31 lARCH 2023 ACCOVP4TING POLICIES Basis of prcparing the fiN&n¢i&l stalem¢nts The finanLial siaiemcnis ha¢ been prcp&rcd xcordancc with Accountittg and Reporting by Charities.. Statctncni of Recommended Pnctite applicable tharjties prepariÈJg their accoLU)ts in accordance with the Financial Repx)rting Standard applicable in the UK arKL Republic of Ireland (FRS 1021 {effeLlive l January 2019} Icharilies SORP {FRS 102}l. the Finajicial RetK)rting Standard a¥)plicable in the UK and Republic of Tre[7d IFRS 102) and the Companies Act 21KJ6 New World Mission Association UK meets thc delmirion of a public bcnefit ¢n¢ity under FRS 102. Assets and li&bililiLS are initially recognised at hisloncal cost or tr3Th5action value unless othetivise stared in the relevanl accounijng w)licy. Legil siatus The ¢hanthble company is a COTnpany limited by guardniee. The members of the charitable company the Trusrccs named on pag¢ l. ID the event tsf the charitsble company beillg wound UP) the liability irt respect of the guarantee is IimitL¥d to £10 per member of thc charitable company. Fund accounting General fun(ts are unrestricied fi]n(Ls which ate available for use ai the discreii¢)n of the Tru51ee5 in furtherwite of the general objectives of the Lhatity and which have bcen designaled for other putP05e5. Restricted fuTH15 arc fund5 whLch atc kn bc used in accordanc¢ with specific restrictions Imposed by donors OT which have Trised by ihc ehariiy for particular Purp. The ¢osL% of raising and adminislcring such fvnds are charged aga1Th the ycific fvnd. Th¢ aim and use ol each restricred fund is set out in the notes 10 the financial siatements. Investment income, gains and losses allocatrd to the appropTiate fimd. Going ¢ont¢rn The Iru%rees considei Ihere are no maiertal wicenaiDiies about Ihe ch&ity'S ability lo toniijiue as a going concem. Th¢ ieview ol. our fir¢ancial posilion, r¢5etve levels and fijture plans gives Tru51¢fs confidence the Charity Tell}n5 a Ljoing con¢¢m for the forcsecable future. Income All it]iume i5 Tecognised once the Lharitable company h35 ¢Trtitlrrnc1 to thc tnc4)me. it 15 probable that th¢ iDcoie will be reccived and the artxbunl of incomc receivablc can measured r¢liabty. Donatcd .%Lt¥lLeS or facilitiL5 arc rccogDis¢d when the charitable ctstnpY has control oi'Lr dic itcim, any conditions assrti2ted wtih the d0Tted itetn hai'e Eten mei. the receipt of ecoDomic benerit from il)e use of Ilie charitablL companv of thc itcm is PToI)able and thai econoinic b¢nefil cart be Ineasllred reliably. Iii accordoncL' with tbe Ch3riiies SORP IFRS 1021, th¢ general volunker time is T1 recognisal. On Teccipi, donared profcs5Jonal SCTVltes aThl doIred facilities aT¢ ie¢ogrtil on the basis of ilic valuc of ¢he gift to the charitsble COTywny whith is the amoiEnt thc chaTitsbl¢ tompany would havc been Hqlling iu pay to obtain SeTViCCS OT facjlilies of cquivalcnt economi¢ benefit ot) the mac1- a co¢spondIng amount is theii reco8ni5¢d in expendimre in the peri(Kt of receipl. Expenditsre xpcndiluic is 0niSed once thcie is a legal or Cons[nliVe obligalion transfer econojnic benefit lo J tliird pany, it is probable that a ransfer of e¢ot)omic benefits will be required settleniejil and die ainount of ihe obligaiion can be niea5ured Telidbly. Expcndhiure is classiftd by &livity. The costs of ¢acli aclivily att madL UP of th¢ u)tal oldiTeci costs and shareil costs, including supporn Costs Lnvolved Jn undertakjng each activity. Diiect COSIS 8irribuiabl¢ to X 51Trgle aeiivity arc allLKated di[tlY lo that aLlivily. Shared costs which contribulc 10 morc than one acijvjty and support rosts whith aTe nOI allTibutsbl¢ lo a singl¢ aeiiviry arc aprtIOncd ith¥eeD those activities on a basis Lonsisicnt wÉih Ihc use of 50V[c¢s. Central siaff c05t5 are allo¢at¢d ot) thc basis of timc spent. and depreciation Charges allocatrd on rtIOn ofthc &wt's ¢. Page IS continued...
NEW WORLD MISSIoN.iSS(IATION UK IYote5 to the TrinaDrial St3temtnt5- continued FOR THE YEAR E.NDED JI MARCH 2023 ACCOUINT1Tr4G POLICIES- EpendIre Siipwrt costs are those costs incurred direa]y irt support of experwjiturc on the objects of the chaTJl#ble company. Goveman¢e costs are those IVr[CAJ itt CO[¢¢1]0 wth administrdtion of the charitable compaiiv and complianc£ with constirntional aNI SLqmiOry requirements. All resources expended are inclusive of irretoverable VAT. Tallglble fixed Asset$ #nd depre¢1 All asseis costing Ve rhan E125 are capitslised. review for imp&irnJeni of a fixed assa is carried out If events or ¢hange5 itb cirCumsn£eS indicate thai ¢he t&trying value of any fixed Lsset tnay not be recoverable. SIK)nfalls Edween the caTrying value of fixed assets and their recoY¢rablc amounts arc rcco8niscd as impaimients. ImpaiTm¢ni losse5 are r0gniSed in ihc Siatemeiil f financial a¢tivities in¢00[allg income and expeThliture acc4)unt. Tangible fixed assets are Carried ai Com. net of dqrcciaiion aTMJ any PTOViSiOn for impait7nent. Depreciation is provided at raies cal¢ulai¢d io write off the of fiKvJ assets. less their esrjmall residual value, tsver their expected useful live5 Otl the following b&se5". Freehold property 20/0 Straight line Office qujptnenl 250/0 reducJn8 blatKe OperAting Ieatts Rcnials undcr opcrdiing leases art ¢hao¢d to the Stamenl of fjnancial activilie5 incorw>raling income and expendiDJre accouni on a 5traighi line basts over the It¢ letm. Bencfit5 tecetved and receivable as an incentive to sign an op¢raiing lease are recogniscd on a str4ight line basjs over Ihe n[l Uthiil the dale the tent is to be adjusted to the prevailing markct rat¢. Tixation The chariry is exempi from ¢orp)raiion on its clwi'thble aciiviues_ Other atcountin(F policics Interest receivable Interest on fimds held on deposil 15 inch]ded when receivable and the amount can be measured ieliably by the harity.. thi5 is nornially uwn notLfieaiion of the interesL paid orpayabl¢ by the Bank. Debtors Trade and other debtors are reco8rtised at the settlem¢DI arnounr aller any trade dis¢tsunt offered. PTepayments arc valued al the amouni prepaid net of any ttad¢ discounts due. Cash 91 Bank and in hand Cash at bank and in hand i]deS cash and short tcrni highlv liquid inveM¥nents with a short maiurity of three months 01 less from the dale of acquisiiion oropelling of the deposir or similar aetount. Li#bililies and provisions Liabiliiies are rLeoled when there is an Obligati at the Balante sheei date as a resuli of a past eveni, it is prob3bl¢ that a transfer of economic benefil will be iequired itl senlen*ni. a1 the amount of th¢ settlement can be cslimaied reliably. Liabilitie5 are recognised al Ilje MnI dial the chaTiiy aniicipaies Il will pay Io settle ilie debi or Ihe amount tt has r¢ceiv¢d 35 advanced payments for the goods or services it musl PTovide. Provisions are me&sured ai the best esiiTnate of the Jmounts required io seiile the obligation. WI¢ the cfTecl of the time value of money is JtJat¢ri?I, Ihe provision is b&%ed ot) the preseni valu¢ of ihose amounts. di5counred 21 the PTe lax discount rale that reflects the nsks s]Krific to the liability. The uthwinding of the dint 1$ recosnised within interest payable and sitnilar charges. Page 16 conttnued...
New World 71$51n A5c19t10Th UK Plotes to the Trinancial StatemcnlS- continued for ihe l'ear Ended 31 March 2023 ACCOUNTING POLICIES- continued Other aceounting policies Crbticl accountiiig estimates and area5 of judgerneTht Estimates and jud£en)eiiis are cojiiinuallv evaluated ai?d are based on historical experience and other factor5. iiicluditib txpect31ions of future events thai are believed 10 be reIlable uiider the circuinstances. Criti¢l Ac¢ounting estimates and assumplions The Charity makes estjmaies and assiimpiions concerning the fimire. The resulting accounting e51imal¢s and assumptions will, by definition. scldom equal the related actual results. The t1¥at¢S and assumpiions thai have a significant risk of causing a material adjust¥nenl to the carrj'ing amounts of asse(s and liabiliiies within tlie next rinancial year are dis¢u&sed in the a¢¢ouniing poli¢ies above. Financial instruments Tlie charit). only financial assets and finieial liabilities thai qualify as basic fiiiaiicial iiisiruinei)ts. Basi¢ financial it)sirumenis are it)iiiall)' recognised ai transaction value aiid subsequently n)¢asured ai ilieii. settleiiiejii value. DONATIONS AND LEGACILS 31.3.23 31.3.22 Unr¢strict¢d funds Resthcted funds Totsl funds Total funds 'I'ithe5 & offerings Jifi aid GrltS from Council 565.507 i8.524 7.222 565.507 493.35 54,731 5.845 7.222 Toial 611.253 611,523 55J.891 In 2022, of the 10131 ineon)e from donaiions and lesacie5. £55).891 ivas to unrestricted fund5 and £NTL iwas to restricted fund5 INVES1.lENT INCOME 31.3.23 31.3.22 u[estrIcted runds Restricied funds Total fund5 Total funds Bank interest received 22 22 Total 22 22 In 2022. of ihe total invesiment income, £17 was to unrestritied funds and £NIL was to restricl¢d funds. Page 17 ¢ontinued...
New World Mission Associgtion UK Notes to the Fin&ntial.St#tement.s- ¢othtinu¢d ror the Year Ended J I f¥larth 2023 INCOME FROM CHARITABLE AcfiviTIES 31.3.23 31.3.22 Unrestricted funds Resthcied nds Total funds Total fiJJids WoTld Link Mini$ Net5, Groups and Encounte 290 9,563 290 9,563 616 Ttstal 9.853 9,853 616 In 2022, of the toial income from charitable aciivities, £616 wds to unrestri¢ied fvnds and £NIL was to Tesiricted funds RAISIYC I)ONATIONS AND LEGACIES 31.3.22 Marketing & Publtcity 4.591 4,9?0 CHARITABLE ACYIVITIES COSTS Direct Cosis (see note 71 Support costs15ee nore 81 Totals Church Activities Support cosis 599.)89 599,i89 158.244 158.244 599.389 158.244 757,633 DIRE(T cosrs OF CHARITABLE A(TIVITIES il.3.23 31.3_22 Ministerial Expenses Missionartes including overseas Worldlink- School of Mjnistry Worship & Depts Rethts Eneouniers MJn15ters $31aries AdminisiTative 5JlarJc5 Staff iratnins & welfare Volunteers and misc expenses Worship & Depts Gen. Exps 12.324 13.177 3.167 184.3)8 25.3iO 169,059 16.4i7 8.224 13,077 12,855 26.387 81.672 138.299 109,981 188 503 61,482 67.333 599.389 461,081 Page 18 continued...
,NEW WORLD,MISSION ASSOCL4TION UK Yotos to the Financigl St91eTnents- continued FOR THE YEAR EYDED 31 MARCH 2023 SUPPORT C(YSTS Suppihi ¢osts Governance costs Totals SupFN)rt costs 60,467 97.777 158,244 Support costs. included in the alx*ve. are as follows: Support costs 31.3.23 SuprK>n osts 31.3.22 Total activiiics Rent and rates Lighi and heat IE)surJnc¢ T¢lLyhi)rtL, fax and iiiletnet Postage, printinu and ststionery AdtninislTiilive LApois¢s Bank interesi and charEe5 DreciatIon General repairs and renewals Covid Related Supwrt Expenses 3.244 1.344 6,517 3.262 1.252 17,421 5,238 21.195 1,418 3,199 6.775 2,826 6,536 20.717 14,788 12.00(J 60.467 86,209 Governaijtc C0515 31.3.23 SuppDrt eosts 31.3.22 Total activities Independeni examiner fees Legal & Professional fees Siraiegy and (levelopmenl 7.21M) 68,060 22,517 7,200 26,188 8.648 97.777 42.036 NET INCOMKI{EXPE)TDVTliR V.) Net incom¢llcxpcndiLiire) is siaied afier chargingl{oed]"tin8}.' 31.3.23 31.3.22 D¢pieciation- owned assds Independent examiner fcl 21.196 7.2(K> 20,716 7,200 Page 19 continued...
NEW WOILLD MISSJON.4&SOCIATION UK 'o¢e5 to ikne Finanrial Sial¢JtE¢n15- continued FOR THE YEAR EN'DED 31 TrIARCH 2023 io. TRUSTEES. REMUNERATION AND BENEFITS Tn[ceS. rcmuncrdtion arc disclosed in no I l. Trustees. expenses The wert no truses' expenses paid for the year ended 31 March 2023 nor for thc yc8r ended 31 March 2022. ii. STAFF cosrs Employee e05ts 31.3.23 31.3.22 Wagts 2nd salaries Employcr'5 Nl & Pcnsion 266,673 18,823 206,819 0,968 Tota] 285,496 217,787 The av¢ra¥e monthly nufflbei ofemployee5 duTing the year was as follows.. 31.3.23 31.3.22 Ministers Adminislration FinattLe 17 15 No empItsy rweived remunerdtion amounting to mote than £60.0 in cither year. Remuneraiion payable io tnjsitts or conneci¢d pe)Ls 31.3.23 31.3.22 D Rttvtlo- for WO as Pa51or A Torres- for WQTk as Head of Finance l Bedoya - for work as Pasior £14,5 £17,363 £16.125 £14,231 £12,101 £14,961 Total £48.39] £41,293 Kcy rnan3g¢ment personnel Thc key pcwDn¢l of the charity eompn5e the Inle¢S and dirc¢1(S altsng with the PastQTg and Head of Finance. The lotal employee benefits of the key management persorLnel of the organisaiion were £188,657 (?022.. £142,351). Page 20 coniinued...
EW W'ORLD MISSION A&SOCIATION UK Notes to the binan¢ial Statement$- continued FOR THF. YF.AR F.YDED.11 MARCH 202.1 12. COMPARATIVES FOR THE STATEMEYI r OF FIP4AP*CIAL ACTIVITIE5 31.3.22 Total funds 31.3.21 Total fund$ Unrestricted funds Re5tritted fndS INCOI¥IE FRO.[ Donations aiid l¢¥a¢ies Chai'iiablL aciivitiL Investment Income Oihcr income 553.891 616 17 42.489 553.891 616 17 42,489 305,484 1.700 190 141,368 Total Income 597.013 597.013 448,812 EXPENDITbRE OI ChariLqble aciivittes 594.247 594.247 456.783 Totkl expenditure 594247 594,247 456,783 NET INCON.IEIIEXPENDITURE) Transfeis between lun(ts 2.766 2.766 {7,971) Trlet moverneNI in funds 2.766 2.766 {7.9711 RECOYCILIATION OF FU.NDS Total tiin(b broiighi foTW#td 1,027,929 1291 1,029.220 .037,191 TOTAL FUNDS CARRIED FOR14.'ARD 1.030,695 1291 1.031.986 1.029.220 13. TANGIBLE FIXED ASSETS Freehold propeEty Otrice e4uipmeni Totsls COST Ai l April 2022 AddrtLons 1,199.416 84,345 5.715 .283,761 5.715 At 31 Majrh 2023 1.199.416 90. 1,289.476 DEPRECIATION Ai l April 2022 Charge for ycar 372,Oi6 17,655 75.158 3,541 447.194 21,196 Ai 31 Mareh 2023 389.691 78,699 468.390 NET BOOK VALUE Ai 31 MaiLh 2023 809,725 821,086 At 31 March 2022 827.380 9,187 836.567 Tncluded in Frcchold Proptsty 1$ the charity's adminisiTaliYe p]Emises (Southwark Bridge Road ) and a buildii)s hcld ( full own¢tship subject legal Lompldion) by the ¢harity in Ecuador. Page 21 ontinued...
NEW WORLD MISSION ASSOCIATION UK Iyoles 10 tht finntial SiaienJtnts- ¢onrinued FOR THF. YEAR EPDED 31 MARCH 2023 14. DEFfoRS: AMOUTs FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 Gift Aid Re¢overdble 19,136 65.652 15. CREDITORS: Amoupifs FALLING DUE wrrHlTri ONE YEAR 31.3.23 31.3.22 Bank loans and overthfis Isee TLoie 17) Social seciinty and other laxes Pension pavable Ctrdii Card AccTued cxpenses 10,647 3J42 777 2.492 7200 10,647 3,1( 735 3,176 11.600 24,458 29,262 16. CREDITORS: ANIOUNTS FALLING DUE AER loRE THAN OliE YEAR 31.3.23 31.3.22 Bank loa¥ 25,814 35.421 17. LOANS An analysis of the maNrity of loajjs is given below: 31.3.23 31.3.22 Amounts f211in8 due within one y&ir on demand.. Bank loans 10.647 10,647 Amounts falling vCen onc and two )ears: Bank loans- 1-2 yvars 10.647 10.647 Amounts falling due between two and five years.. Bank loans- 2-5 y&¥s 15,167 24,774 18. MOVEMENT I.N FUNDS Net movemeni in funds At 31.3.23 1_4.22 Unre5trict¢d funds General fund 1,030,695 (142,3851 888,310 Restric¢e(I funds Restyicie 1.291 1,291 TOTAL FUNDS 1.031,986 (142.3851 889.601 Page 22 continued...
EW WORLD .11sSION A&SOCIATION UK Noies io ihe Finantial.Siaiemtnis- ¢onliNued FOR THF. YF.AR ETriDED 31 MARCH 2023 18. MOVEMENT IN FUNI)S- tonlillu¢d Net movement in fi]nits. included in the above ate as foll¢)ws- Iijcomijig re50U1tt5 Resources expcnded Moveijietti In funds Unrf5trictcd funds Geneial futjd 619.839 (762.2241 1142.3851 T(yfAL FUTr4DS 619.839 (762.2241 (142.385) Comparatives for movemenl in Nei movemen( iii fulS At 31.3.22 Ai 1.4.21 Unre$trict¢d funds GLnLYal fund 1,027.929 2,766 1.030,695 Restricled fvTrd$ Restricted 1291 1,291 TOTAL FUNDS 1.029,220 2.766 1,031.986 Comparaiivc net movemerti in fi]nd¥ included in the at*)ve are &8 follows: InLoming Res0r£c$ expejided MoveJiien( ii) fun¢J5 UTrre5tricied funds General fiind 597,012 1594.246) 2,766 TOTAL FUNDS 597,012 (594.246} 2,706 A ¢uTtent year 12 months and prior year l? months Combi]d position is as follows.. Net At 1.4.21 In funds 31.3.23 Unrestri¢ied fumds Gcneral fund 1.027.929 1139,619} 818,310 Restricted fund5 R¢slT]cicd 1291 1,291 TOTAL FUNDS 1.029.220 {139,6191 889.601 Pagt 23 continued...
NEW WORLD MISSIOh' ASSOCIATION UK otes to the Finarycial St2tements- continued FOR THE YE.IR ENDED 31 .MARCH 2023 18. MOVEMENT IN FUYI DS- continued A CUTr¢nt ycar 12 months and prior year 12 months combin¢d m¢*vetnent In fll Intlllded the above are a5 follows". Incoming resources Resources expended Movement in funds Unresiri¢i¢d funds General fund 1.216.851 11.356,470) (139.6191 TOTAL FUNDS 1.216.851 11,356.47a I 1139,619) The Testritted fuTrd rclares ts) the Pro Building fid wthich was raised to help wirh the purchase of a building io hold th¢ Sunday ServiLL and also lo Loniinuc Ihc Charirfs othcr aclivities.Thc funds re£¢ived havc been pla¢cd on derK)sil uniil such a timc when thcre is sufficient fuT5 to und¢TEak¢ the purchase. 19. RELATED PARTY TRANSAcrioys During the year. nvo Trusrees and one Director received remuneraiion amounting to £48.392 12022.. £39.6891 for thear work perfoTmed lowd5 th¢ chaTity'5 obiectLV¢S. Two ¢lose family members of the Tnjstees received remu]xeraiion 01 £20,499 12022: £14.169 1 for their work perfornied towards the chariivs objectii'es. 20. ULTIfvIATE CONTROLLING PARTY Th¢ Chanty Is und¢r th¢ ¢trol ofits Trnsitts. Pa8e 24
f4EW WORLD MI&SION A&SOCIATIOY UK Det#ilod.Statemeni of Fin#n¢i#l Acti%'iti¢s FOR'fHL YF.AR ENDE"D JI fvIARCH 2023 31.3.23 31.3.22 INCOME Donglions leg2cie5 Tithe¥ & vfl¢TillgS Gill aid Grants frum Council 564.217 38.524 7.222 493,314 54,731 5.845 609,963 553,890 IVtment income Bank inlercst rcceived 22 Charitable Artivitie5 WoTld Liiik Minibtry N¥ls'. C)TOUPS aii(l Encount¢TS 290 9.564 616 9.854 616 Oth¢r income Govetntniiil Fwlough Grani 42,489 Tottsl Incoinlng rDure¢S 619.839 597,012 EXPF,NDITURE Ris11 di)nliiTrns #nd le%acies M&irkeiiiig & l)ubliciiy 4.591 4.920 Charitublo 4ctLVitleJ 12,324 13,177 3.167 184,338 25,330 169.059 16,437 8.224 13.077 12.855 2C?.387 I,r?72 16,637 138,299 l(VJ,981 188 503 61.482 Mis%ioi)aries includins overse WnTldlink- School of Minisiry Worship & t)¢piq Rents F.ncoiinicTS Adminisiralive &il¢Vi¢S tr*illiiliL4 & WL,Ir.. Voluiiteers and niisc expense5 Worship & Dcpls Crfn. Exps 67.333 599,389 461.081 Support ¢ost$ Siipport tosts RLnl and rai Light and heat 3,244 1,344 6,517 3.262 1,252 15,619 1,418 -1,199 6,775 TelLphone. fax at)d it1Me1 Posiagc, priniitjg and stationery Carried foTwJrd 2,826 17.359 This pagc docs not form part of thc s¢#tutory finaneiil sreMa)IS Page 25
NEW WORLD MISSION ASSOCIATION UK Detailed Siaiement of FiniDcial Actii'ities FOR THE YEAR EIYDED 31 .MARCH 2023 31.3.23 31.3.22 Support COSt5 Brolighr foN'ard A(Imini51Tativ¢ expenses Bank InreST and charges Depicciaiion GeThLTal rLpoirs and renewals Covid Relat¢d SvppDrt EX$ 15,619 17.421 5,238 21,195 17,359 14,809 6,536 20,717 14,788 12,IKK) 60.467 86,209 fJovernyhee ¢o$ts IDIlii)LnclLnl ¢XMIner fees I.egal & Professional fces Sirtsicgy and dcveloptncnt 7.21M) 68,060 22.517 7,200 26,188 8,648 97.777 42,036 Toial resource5 exrknded 762,224 594.246 Net lexpendlturc)nncome 1142.3851 2,766 This page drts not lom part of the statutory fiDancial slaiements Pa8e 26