REGISTERED COMPANY NUMBER.. 05346522 (England and Wale5) REGISTERED CHARITY NUMBER: 1112203 Trustees, Report and Un*udlted FlnanCft￿ Statements for the Year Ended 31 Mar¢h 2024 for NEW WORLD MISSION ASSOCIATION UK (A COMPANY LIMITED BY GU2I1L41YTEE} Garside and Co. Limited Suits 631, Linen Hall 162-168 Regent Street London WIB 5TG NEW WORLD MISSIOIY ASSOCIATION UK Contenls of the Fingnelal Ststements FOR THE YEAR ENDED 31 MARCH 2024 Page Referene¢ and AdmlntstrAtive Details Trustees, Report Independent ExAminer's Report Statement of Fin8ndal ACtI￿tieS 10 Balance Sheet 11 to 12 Cash Flow Ststement 13 Notes to the Cash Flow Ststement 14 Notes to the Flnanclal Statements 15 to 24 De￿led Statement of Finlnclal Atth￿tieS 25 10 26 NEW WORLD MISSION ASSOCIATION UK Rcferenc¢ Administrative Details FOR THE YEAR EM)ED 31 MARCH 2024 TRUSTEES J l Bedoya Martinez D Ravelo N Miguel A To￿¢5 COMPANY SECRETARY REGISTERED OFFICE 13 Penn Street London NI 5DJ REGISTERED COMPANY NUMBER 05346522 (England and Wales) REGISTERED CHARtTY NUMBER 1112203 INDEPENDEIYT EXAMILYER Garside and Co. Limited Suite 631, Linen Hall 162-168 R¢gent Street IJ)ndon WIB 5TG Page I NEW WORLD MISSION ASSOCJATION iIK Tru$tee$' Report FOR THE YEAR ENDED 31 MARCH 2024 The Trnstees pr¢sent their annual report together with the indyJKlent examiner report of the financial sthtements for the year l April 2023 to 31 March 2024. Since the charity qualifies as small under section 383, the strategic ryort required of medium and laTge ¢ompanies uThder The Companies Act 2006 (Strategic Report and Dire¢toffs Report) Regulations 2013 is not required. The charity also trades under the name NEWMA. ORIECTIVES AYJ D ACTJVITtES Policies and objective5 The I'rnstees confjnn that when reviewing Ihe Charity's aims. and planning the objectives and activities. they have had thie regard to the Charity Commi55ion's guidance on public benefit and in particular the supplcrnentary guid2thce regarding the advancement of religion. The objectives of the Charity are set out in its govcrning documenl and can be summarised as: . The advancement of the Christian Faith. - Relief for those in need, hardship or distress. and . The advancement of education on the basis of Christian principles Our ¢utrent prin¢ipal aims are to be.. . A Mission Church: to communicate the love of Cknist both locally and globally . A Model Church: lo continue to develop a multi-racial, multi-age community tkni demonstrates the Kingdom of God a5 taught in the new testament . A multipli￿110n Church.. to gear for on-going growth in the UK and overse&s . A Media Chu￿h. to ￿eativelY use all modern meihods of cornmunication ObJe¢tlves for 202312024 In essence, our goals for 202312024 is a continuation of the goals of the previous year, namely.- To D¢v¢lop stroThger devotional foundation through limes of prayer and fasting. and progran)me of Bibl¢ readtng for Church members . To develop stronger leadership foundations . To develop grealer pastoral care tbrough the network of small groups that the ¢hurth ha8 . To develop our provision of cornfort and support for the bereaved, hurting and marginalised . To conlinuc thc dcvelvpment of ow ministries to the young and 01￿ and married and singlc . To support the development of family lift both within the church and in local com]nunities . For Sunday atlendance and ¢hurch attendanee through small groups grow and extend, Creating more Swiday Service • Community desire to continue serving the local communities Slrategies for achieiTrng objectiv¢g Thc shatcgics for achicvillg the aims and objeclives are those set out in the home small groups vision dcvcloped 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 cxamplc of ttaining 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" . CONSOLIDATE (affinn in th¢ f￿'th) new Chn'stians - nurturing them in their faith and supporting them with care and . DISCIPLE (or train) believers in the Christian Life through small 'discipleship' groups and tbe 'school of leadeTS' and . SEND (or launch} Christians into leadership - Teproducing what they have experienced Activities for achieving objectives The Charity runs lo¢al activities as well as activities further afield in paTtnership with other organisations.. Page 2 NEW WORLD MISSION ASSOCIATION UK Trustees, Report FOR THE YEAR ENDED 31 NL4RCH 2024 OBJECTIVES AND ACTIVITIES LOCAL CHURCH AcfiviTIES Sunday Seryices We havt 6 s¢rvices in 6 locations, we are one church with many Campuses, we have our. Pimlico Campus on Lupus Street. Pirnlico Academy. SWIV 3AT, this campus holds bilingual service (Spanish and English). Central Campus at Angel Vue Cinem4 Screen 6, 36 Parkfiel Stre¢¢ Nl OPS, English Speaking Campus, moved to 13 Penn Stre￿, Nl 5DJ since 7th January 2024. Stratford Campus, London Academy of Excellence, 322 High StreeL E15 IAJ. this campus holds bilingual service {Spanish and English). Manor House Campus, Skinners Academyj Woodbeny Grove, N4 1 SY, this campw holth bilingual service (Spanish and English) Elephant And Casde Campus. Southbank Academy, Trafalgar Stree¢ SE17 2TP. this campus holds bilingual se￿ice (Spanish and English): Bem]ondsey Campus, City of London Academy, Lynlon Road, SEI SLA, this campus holds bilingual service (Spanish and Engltsh)" Each campus has children's program and translation inio English or Spanisb simultaneously on stage. Community Groupsl C Groups Our small groups are known as cells, as the Bible ref¢rs to the church as a l)ody of believers and the cell is the basic omponent of the body. Small groups 'cells" are open to Chrislians and nonQhristians alike to learn about the teachings of Jesus. There are cells for all ages: children. youth and adults. We also nm discipleship c¢ll groups which consist of up to 12 church members who are committed to support and encourage each other in their C￿lstian lives. Retreats Encounter weekends, pr¢-Encounter and post-Encounter courses are for anyone who has d￿lded to join the church. They fonn the core of our 'ronsolidation' strategy, enabling people to hav¢ a real encounter with God, to ¢nsur¢ 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. Le&idersblp trainlng and World link Mission School The 'School of disciples, is Tull lo provide a thorough grounding in the t￿hingS of the Bible and train C]]ristians to run their own small groups. Cl&ss¢s are once a weck and the school lasl a minimum of a year. This is a core part of the 'Disciple' strategy. In addition we the 'World link Mission School, for those who want lo advance their sthdies, this is also training for those that are preparing for the pasl¢)rdl ministy, and those who are opening new churches within our nenyork within London and inl¢rnationally. Baptism services C.CL yearly hold baplism seryi¢es, these ar¢ for new Membe￿ who have made a decision to be a disciple of Jesus Chris¢ we hold the baptism service at different venues IBapiiSi ¢hur¢h's). Media We have & small media team that is composed of staff and volunteers, they help througb soci81 media and church web pag¢ updat¢ and infonn all that the Church is doing across the ¢ampuses we also put the Sunday semiotts online for those who canl attend Sunday service. We have also improving CHURCH ONLfNE. a Christian live streaming service by social medii Facebook and YouTube. Evangelism on the Streets Leaders of the church program a weekend once every month about 60 leaders and member5 go to help the poor and marginalised by giving food and clothing and Connect them with organisation that can help them to find a¢¢on]modation and counsel. Page 3 NEW WORLD MISSION ASSOCIATION UK Trnst¢es' Report FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Seminars and conferen¢¢s 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 thc men's network. women's network and youth and children's network. CCL will coveT thg Costs for th¢ sp¢akers for these seminars and conferen¢es. Churehes and Missions The Church provides pastoral oversight to churches in Spain, Ecuador, ColumbTa and PeN, we work closely on Ihe development and a¢tivitie8 of those churches and mi&sions. The Charlty also sends delegates to participate and speak in these churches and missions. Etuador We continue to hold a building for our church in Quito, Eeuador. However, lor the sake of pthce we have deemed il illAppropriat¢ to have the value of this buddin¥ showing in the accounts until legal owncrship is fully s¢cured. The legal Costs for the year associated with the ongoing process of securing ownership are included in the Governan¢e costs in the accounts. Page 4 NEW WORLD MISSION ASSOCIATION UK Trustees, Report FOR THE YEAR EIYDED 31 MARCH 21124 ORIECTIVES AND ACTIVITIES Volunteers All the charitys activities are facilitated in some Tespecl by d¢dicat¢d volunteers, several hundred of whom give their time to assist in some way - for example fulfilling a role in our Sunday S￿Vice, annual conference, assisting in the church office or working with children or youth. Public benefit The TTUStees have considered the Charity Commissioners, Guidance on Public Benefit anl in particular. tbe 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 The following is a summary of our achievements for ihe year ending 3110312024 School of disciples The school of disciples now ha5 an average of100 students every trimester- an improvement on last Y￿￿. Media We have improved our website and continue to stream the Sunday servi¢¢ in four of our camp￿8 online. Now that we gather physically we continue to upload the Sunday messages through souJ)d cloud so that the members and new people can have access to the messages. May of the home groups still meet weekly online through the zoom plaiforni. We arc working in improving our so¢ial media presence every week and are planning to take il to th¢ n¢xl level as we understand the importance of this (see Future Plans below. Mlsslons We have a Church in Ecuador and also 5 churches in Spain. The Churches do different activitie5 such as weekly meetings and retreats and the annual conference this is to help the growth of the Church. We have op¢n¢d two wells in Niguia this year and plan io open more wells in the future. Our Church fill LoDdon We have six campuses where we gath¢r the Chur¢h every Sunday. We currently have approximately 800 members across the six campuses which means we maintained most of our members during the difficult times of Covid. The Church also meets irt small groups every week, we have about 100 Small groups. Encounter retreats CCL encounters are held at Outsource hotel duTing the year. We had a total of10 encounters during the year. Totsl people b2ptfi$ed During the year 100 people were baptis Page 5 NEW WORLD MISSION ASSOCIATION UK Trustees, Report FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Financial summary New World Mlssion Association UK (NEWMA UK) ended the year a defi¢it on general funds of 64,958.00 (2023: £142,385 deficil ) Ihe details of which can be seen in the annexed financial statements (and notes) for the period. The Trustees are very thankful to all th¢ Members (and other stakeholders) for iheir continuous generosity which enables the ChuTeh to maintain it's array of activities in thes¢ Challenging times. The Trusl¢es acknowl￿ge the deficit for the fmancial year and deem it was not unexwted due the expenditure incurred implementing the expansion of it's mission. For example, during the year the charity secured hvo more locations for it's operations 61 Greai Dover Street, London, SEA 4YF (since 26 October 2023) alld 13 Penn StreeL London, Nl 5DJ {sin¢¢ 15 December 2023). The trnstees are confideni that ihe relurns from these new locations. along with planned cost effeiciency measures, will improve the financial results of ￿tUre financial ￿riodS. Reserves po]l¢y The Board of Trustees has examined the Cbarity's requiremenls for reserv¢5 in light of the main risks to the organisation. Our current policy is lo aim to maintain at least three months of all expenses. Based on the total expendilur¢ in 202312024 this is in the region of £252,086 (2023- £164,793). At the end of 3110312024 the charity held free cash reseTves of £17,471 (2023: £67,224). The Charity's main asset is freehold building which is largely unencumbered and could be utilis¢d to pmvide addilion liquidity if required. Notivithstanding ihis we are focused on building up cash reserves going fonvard. Going eon¢ern After making appropriate enquiries, the trustees have a reasonable expectation that Ihe charity has adequate resources to ontinue in operational existenee for the foreseeable future. For this reason they continue to adopt the going eoncem basis in preparing the financial statements. Further details regarding the adoption of the going concern basis Can be found in the Accounting Policies. We are working to relaunch the 2022 chU￿h vision as we now seeing the momentum of new and regular members. This means we need to doubl¢ down on communicating and clarifyig th¢ vision of our ¢hur¢h. We are looking for new premises where we can also hold Church services as well as do other activities like hold departmentsl meeting, worship reheaT5als and building our worship and media ministties. Therefore. we intend to launch a fimdraising campaign to buy an appropriate builthng. Th¢ campaign may include eslablishing a new building fund and selling the Ecuador building. Anotber strategic objective is to further strengthen the media department to, not only to bett¢1 promote our church and it's mission in the and abroa4 but also lo promote Sp￿]riC local community training and internship programs. Such programs include initiatives like ¢areer development projects (e.g. job seeking. creating Cvs and practicing job interviews) and educating farnilies on how to navigate online safely. STRUCTURE, COVERNANCE AND MANAGEMENr Governlng document The chaTity is Controll￿ by its governing documen( a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Page 6 NEW WORLD MISSION ASSOCIATION UK Trustees, Report FOR THE YEAR ENDED 31 MARCH 21124 STRUCTURE, GOVERNANCE AND MANAGEMENT Comstitution New World Mission Association is a non-denominationaI church based in London UK. The Charity is governed by the trustees and registered wtth the Charity Commisston: Charity Number 1112203. New World Mission Association UK is registered also as company. Company Nutnbcr.. 5346522. The Charity was incorporated on 28th January 2005 and is governed by a Memorandum and Articlcs of Association. The Association was registered with the Charity Commission on the 22nd Novcmbcr 2005 in accordance with th¢ Charities Act. New World Mission Association is a charitable trust and is run by a board of Trustecs. Our Objectives to advance the Christian Faiih and education in Churches established and maintained by th¢ Charity, to teach an prep￿e missionaries, to organis¢ 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 electlon of Truste¢6 TTUStees may be appointed by a fornial memoTandurn of spiritual leaders of the Church. Trustees must be a member of thc church and accept the doctrlne of the Church. Twstees are appointed iti ac¢ordan¢e with the piovisions of the Articles of the Charity and with referen¢¢ to the Association's Governance Policy. Policies adopted for Ihe indu¢tion and training of Trustees The T￿st¢eS are required to read the Charity Commission guidance "the effective Trnstee" and en¢ouraged to read their other publications. Pay polficy for senlor staff The ch￿lty 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 ITUStces together with the minisler aT¢ working on a new policy for ministers and church leaders. OrganisatRonal strueture and decision making The strdlegi¢ decisions of the ¢harity are taken by the"Board of Tnjstees. The Board of Trustccs operate collectively with the Executive Management and Directors, to consider specific subjects and make recommendations to the Board. Spiritual Icaders The Spiritual Icadcrs of thc church Lumwornise the Senior Paslor logether with a tearn of twelve men and twelve women who oversee the pastoral care of church members. the prO￿amMe of Christian teaching and provide spiritual direction lo the church. The thlstees recognise that thc spiritual IcaikTS are the spirilual auihority of the church. The spiritual leadcTS recognise Ihat the TNstees are the custodians and administrators of the tn￿1 fi￿ds. The trustees have thc responsibility to administer tbe tn￿t funds, which they will undertake in full reco￿lt10n of tbe SPiTitual guidance provided by the churth's spiritual l¢aders. Havin8 assessed the practical implications involved in fulfilling the spiritual direction given by the Ghurch's spiritual leaders, th¢ trustees ¢r¢at¢ and maintain: • Accounting st￿cttIreS . Policy ststements . Reporting Structures . Working practices Page 7 NEW WORLD MISSION ASSOCIATION UK Trustees, Report FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Rjsk Management Thc trustees havc 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 managemenl for some years. The Tn]sfe¢s are irnpl¢m¢nting systems to ensure identification, managcmcnt and documentalion of foresecablc risks. Governance risks Trnstees may require more time to havc in-depih reviews the charity. Planning ahead for the year with the Trustees at al thc mectings rcduccs risk. Operational risks Tnadequate staff being ¢mploy¢d ¢ould lead io mistakes being madc. This risk is migratrd by sending those that aTe working for the charity to training sessions and sen)inars to be better equipped. Financial risks Donations could de¢r¢as¢ leaving the Charity short of funds. The Tn￿¢¢¢$ ty to create new ways for people to giv¢ to the Charity. online or by post or starjding older fornis. External Risks Changes in Government policy or the economy fluctuating could have an adverse effect on the Charity. The Charity can keep beneficiaries infom]ed how these changes can effecl them. The Charity can look at ways lo prepare for these changes. Directors of Éhc 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 tbe year to help minimise any risks to the charity before the reporting period. Compliance with Laws And Regulations Not having sufficient inforniation when starting new projects in the Charity could lead lo non-complian¢e. The Charity nccds to always look at new ways to help and give to bcncfiLiaries in the community (and further out}, but there must be legal advi¢¢ taken before a new projcct is taken onboard. We are continually reviewing and making SUTC all donations are re￿rted, main offering5 are collected on Sund&ly and kept secure OD Monday morning Imd banked on the same day. All our cell groups that collect offerings also have reports" that are given ￿ the Church offices of all that h&s bccn collecled weekly. Safeguarding Policy Our safeguarding policy is aimed at protecting vulnerable children or adults from abuse and neglect in all circuD]slances. This includcs all proccduTeS designed to prevent hann. also rcfcts to the process of protecting children and adults - by providiDg safe and effective care. All our employees and volunteers WO￿ under the guidance and according the Safegu￿￿ng prevention government policies and under the The Disclosure and Barring Service (DBS) checks. Approved by Orderof the board of trustees on............................................. and signed on its behalf by.. av¢lo- Page 8 Independent Eiaminerls Report to the Trustees of New World Mfission Association UK Ind¢pendent ex*n)iner'$ report to the trustees o(New World Mission Association UK {'the Company) I report to the charity ttwtees on my examination of the accounts of the Company for the year ended 31 March 2024. Responslblllties and basis of report As th¢ charity's trustee8 of the Company (and also its di￿torS for the putposes of company law) you ar¢ responsible for the preparation of the accounts in a¢¢ordan¢e with the requirements of the Companies Act 2006 (the 2006 Acl,). Having satisfied myself that Ihe accounts of the Company are not required to b¢ audited under Part 16 of ihe 2006 Act and are eligible foT independent examination, I report in respect of my examination of your charity's accounts as caTried out under Section 145 of the ChaTities Act 2011 ('Ihe 2011 A¢t'). In ¢atrying out my e￿mInatiOn I have followed the Directions given by the Charity Commission under Section 145(5) (b) of ihe 2011 Act. Independent exAminer's statement Since your Ch￿Ity'S gross income exceeded £250,000 your examiner must be a member of a listed body. l Can confimi that l am qualified to undertake the examination becÉ)ube I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have ¢otnpleted tny examination. I confinn that no nwtters have come to my attention in connection witb the examination ￿VIng me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act. or the accounts do not ac¢ord with those records. or the accounts do not comply wilh the ac¢ounting requirements of S¢ction 396 of the 2006 A¢t other than any requir¢ment that the a￿OUnts give a In￿ and fair view which is not a marter crnting income and exE*nditure account on a straight line basls over the lease lem]. Benefits received and re¢¢ivable 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 rdte. Taxatlon The eharity is exempt fron] cory)ordtion tax on its Charitable activities. Other aeeounting policies Interest receivable Interest on funds held on deposit i.q included when receivable and the amount can be meaSUTed reliably by the charity" this Is no]Inally upun notification of the in*rest paid or payable by the Bank. Debtors Trade and other debtOTS are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prcpaid nct uf any trade discounts due. Cash at Bank and in hand CAsh at bank and in hand includcs cash and short tern) highly liquld invc5tmcnts with a short matyrity of ihree months or Icss from the date of acquisition or opcning of the deposit or similar account. Liabilities and provisions Liabilities are recognised when theTe 15 an obligation at the Balance sheet date as a result of a past evenL it is pmbable that a tralls'fcr of ¢conomic benefit will be requircd in settlement, and Ihe aniount of the scttl6menl can be estimated reliably. Liabilitics are rcL'ognised ai the amount that the cliarity anticipales it wryll pay to settle ihe debt or the amoullt il has received a5 advanced payments for the goo