Charlty registration number 1114139 Company registration number 05760552 (England and Wales) NEW GENERATION CHURCH TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Caladine Chartered Certified Accountants
NEW GENERATION CHURCH TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M Monk5field Mr D Hill MsEMBox Mr B Marriott Mr O Ogunnaike Charlty number 1114139 Company number 05760552 Prlnclpal address New Generation Centre Birkbeck Road Sidcup Kent DA14 4DJ Reglstered offlce New Generatlon Centre Birkbeck Road Sidcup Kent DA14 4DJ Independont examlner Colin Dadswell FCA FCCA DChA Caladine Limited Chanty House 22 Upperton Road Eastbourne East Suss8X BN211BF Bankerg Lloyds Bank PLC 12 Sydenham Road Lewisham London SE26 5QD
NEW GENERATION CHURCH TRUST CONTENTS Page Trustees, report statement of trustees, r•sponsibilities Independent examlnels report statement of flnanclal activities Statement of financlal position Notes to the financial statements 8-18
NEW GENERATION CHURCH TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial Statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Memorandum and Articles of Association, the Companies Act 2006 and "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 IFRS 102) (effective 1 January 2019)" Objectlves and activities The trust's objects are to.. advance the Christian faith in accordance with the Statement of Beliefs, to provide and maintain facilities for the benefit of the community of Sidcup and the surrounding neighbourhood, to further Christian education, and to relieve persons who are in condition of need or hardship or who are aged or sick. PubliG benefit The trustees have paid due regard to guidance Issued by the Charity Commlssion in deciding what activitles the trust should undertake. Achlevements and performance As Trustees we are fully aware of our main responsibility and that is to be accountable for the legal and authenticity side of our Charity. If we were to be totally involved in every Church activity, every decision made, or even every procedure required then we would no doubt Struggle. So, it's important right from the start of this report that we highlight our thanks to the main lead8rship and oversight of New Generation Church. They, together with each and every member who have continued to support and encourage the work of New Generation Church, are so highly thought of and they do so much to lighten the Trustees load. Each year brings challenges. It's how we respond to challenge that defines the year and ourselves. Nèw Generation Chur¢h has continued to excel in many areas. Our support of local initiatives such as the Bexley Foodbank has continued and once agaln Lark in the Park was held at Sidcup place. Our own Church members represert a major 'h of the volunteers for the latter event. Support of the Blackfen Communty Library and New Generatson Schools Trust contlnues. In particular the number of courses and support initiatives that are run from the library space is amazing In worklng with various 'interest' and vulnerable groups. The Library at Blackfen continues to hold our main Sunday gatherings as a Church and we have maintained a 'Zoom' presence on line for the smaller number who have not been able to join us physically for a number of reasons. Our main meetings have been well attended and there have been Significant times where we have experienced the spiritual presence of our God. Worship, prayer and learning from inspirational speakers has again been at the heart of these gatherings. The Trustees recognise that there have been adverse criticism of some Churches, Christian organisations and even reputable Christs'an leaders over the last year or so. We are currenlly in the process of reviewing and updating all policies and procedures to reflect the changing times that we are in and the necessary 'safeguards' that are now required to be in place. The safety of our staff, our members and the community at large will always be our priority. Our finances have remained steady over the year. This enables us to not only continue to support our main initiatives but to also support smaller ones both in the UK and overseas. We continue to be part of the Pioneer network of Churches and our key leadership roles are also spiritually supported by Pioneer. We often say that we could not run a Church without the sacrificial giving of our members and it goe5 Wlthout saying that we again say THANK YOU to each and everyone who supports but also encourage5 the work of the Church and thus the Trustees. We salute you.
NEW GENERATION CHURCH TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financlal review The unrestricted funds show a surplus after transfers for the year of £12,790 (2023 - deficit of £19,537) leaving unrestricted funds of £120,102 at the year end. The designated funds show a surplus after transfers for the year of £9,000 leaving a balance of designated funds of £9,000 at the year end. There was a surplus after transfers on restricted funds of £7,556 (2023 - surplus of £18,987) leaving restrlcted funds at the balance sheet date of £97,186. Overall the Church recorded a surplus of £29.346 (2023 - deficit of £550) Resgrves pollcy It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to beeen three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. Majorrisks The trustees have assessed the major risks to whlch the trust is exposed, and are satisfied that system8 are In place to mitigate exposure to the major risks. Structure• governanc8 and management The trust is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 29 March 2006 and amended in October 2009 and May 2012, The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Mr M Monksfield Mr D Hill MsEMBox Mr B Marriott Mr O Ogunnaike R8cmltment and 8ppolntment of trustees Trustees are appointed by the members of the Church, and training and Induction is provided as required. None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and all members guarantee to contribute up to £1 in the event of a winding up. Oan1S8t10nal stwcture The spiritual government and leadership of the Church fellowship resides with the recognised spiritual leadership of the Church whilst the trustees have responsibility for the proper management and administration of the Charity. The stees, report was approved by the Board of Trustees. arriott Trustee
NEW GENERATION CHURCH TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The twstees, who are also the directors of New Generation Church Trust for the purpose 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 trust and of the incoming resources and application of resour8. including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to.. select sultsble accounting pollcies and then apply them consistently., observe the methods and princlples In the Charities SORP., make Sudgements and estimates that are reasonable and pwdent., state whether applicable UK Accountlng Standards have been followed, subject to any material departures disclosed and explained in the fi'nancial statements,. and prepare the financial statements on the going concern basis unless it is Inappropriate to presume that the trust will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Companie5 Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
NEW GENERATION CHURCH TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW GENERATION CHURCH TRUST I report to the trustees on my examination of the financial statements of New Generation Church TNst (the trust) for the year ended 31 March 2024. Responsibilltles and basis of report As the trustees of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial staternents in accordance with the requirements of the Companies Act 2QC6 (the 2006 Act). Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I rèport in respect of my examination of the trust's financial statements carried out under section 145 of the Charities Act 2011 {the 2011 Act). In carrying out my examination I have followed all the applicable Direction8 given by the Charity Commission under section 145(5)Ib) of the 2014 Act. Indèpendent examlnerfs statement Since the trust's gross income exceeded £250,000 your examlner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which Is one of the Ilsted bodies. I have complet8d my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the trust as required by section 386 of the 2006Act; or the financial statements do not accord with those records., or the financial statements 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 the financial statements 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 arul Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connectlon with the examlnation to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. C4Ch Colln Dadswell FCA FCCA DChA Caladine Llmited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 18F q&k..bl(thb 1021
NEW GENERATION CHURCH TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Current flnanclal year Unre5trlcted Unrestrlcted funds funds general deslgnated 2024 2024 Restrlcted funds Total Total 2024 2024 2023 Notes Income and endowments from: Donations and legacie5 Charitable activities Investments Other income 294.255 11,451 510 16,700 310,955 11,451 1,282 9,000 277,136 11,312 264 772 9,000 Total Income 306,216 9,000 17,472 332,688 288,712 Expenditure on: Charitable aCvItIeS 284,426 18,916 303,342 289,262 Total expendlture 284,426 18,916 303,342 289,262 Net Incomel(expendlture) 21,790 9,000 (1,4441 29,346 (550) Transfers beeen funds 17 (9,000) 9,000 Net movoment In funds 12,790 9,000 7,556 29,346 (550) Reconciliatlon of funds: Fund balances at 1 Aprll 2023 107,312 89,630 196,942 197,492 Fund balances at 31 March 2024 120,102 9,000 97,186 226,288 196,942 All income and expenditure derive from continuing activitie5.
NEW GENERATION CHURCH TRUST STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prior flnancial y8ar Unrestrict8d funds 2023 Restrlcted funds 2023 Total 2023 Notes Incom8 and endowments from: Donations and legacies Charitable activities Investments 262,692 11,312 138 14,444 277,136 11,312 264 126 Total Income 274,142 14,570 288,712 Expendlture on: Charitable activities 275,499 13,763 289,262 Total expenditure 275,499 13,783 289,262 Net Incom81{expendlture) (1,3571 807 (550) Transfers b8bN8en funds 17 (18,1801 18,180 Net movement In funds (19,537) 18,987 1550) Reconclllatlon of funds: Fund balances at 1 April 2022 126,849 70,643 197,492 Fund balances at 31 March 2023 107,312 89,630 198,942
NEW GENERATION CHURCH TRUST STATEMENT OF FINANCIAL POSITION ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Property, plant and equipment 13 17,037 17,338 Current assets Trade and other receivables Cash at bank and in hand 14 9,995 213,419 19,935 166,191 223,414 (14,163) 186,128 (6,522) Current Ilabllltles 16 Net currant assets 209,251 179,604 Total assets less current Ilabllltles 226,288 196,942 The funds of the trust Restricted income funds Unrestricted funds - general Unrestricted funds - designated 17 19 97,186 120,102 9,000 89,630 107,312 226,288 196,942 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to 8ccounts.ng records and the preparation of financial statements. The members have not required the company to obtain an audit of its flnancial statements for the year in question in accordance with section 476. These financial statements have been prepared In accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the tru es 12 Mrmmo Trustee sfield rriott Trustee Company registratlon number 05760552 (England and Wales)
NEW GENERATION CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Company informatlon New Generation Church Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is New Generation Centre, Birkbeck Road, Sidcup, Kent, DA14 4DJ. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the trust's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Slatement 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 1 Q2) (effective 1 January 2019}" The trust is a Public Benefit Entity as defined by FRS 102. The trust has taken advantage of the provlslons in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The flnancial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charttable funds Unrestricted funds are available for use at the discretion of the trustees In furtherance of thelr charitsble objectives. Designated funds comprise funds which have been set aslde at the dlscreticn of the trustees for specific purposes, The purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are sublect to specyfic condltions by donors or grantors as to how they may be used. The purposes and use5 of the restricted funds are set out in the notes to the financlal statements. 1.4 Income Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that Income will be received. Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or othemse if the trust has been notified of an impending distribution, the amount is known, and receipt is 8xpected. If the amount is not known, the legacy is treated as a contingent asset.
NEW GENERATION CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.5 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 activlty are made up of the total of dir&t 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 beeen those activities on a basis con515tent with the use of resources. Central staff costs are allocated on the basls of time spent, and depreciation charges are allocated on the portion of the asset's use. Resources expended are recognised in the period in which they are incurred and allocated to the particular cost centre to which they relate. Expenses include irrecoverable VAT. 1.6 Propertyi plant and equlpment Propety, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to wrf(e off the cost or valuation of assets less their residual values over thelr usefijl lives on the following basis.. Fumiture and fixture5 Office equipment Motor vehicles AV equipment 200/0 Reducing balance 200/0 Reducing balance 250/0 Straight Line 200/0 Reducing balance The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the Garrying value of the asset, and is recognised in the statement of financial activities. 1.7 '1mpalrment of non-current assets At each reporting end date, the trust reviews the c8rrying amounts of its tangible assets to detemlne whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment Ios8 (if any). 1.8 Cash and cash equlvalents Cash and cash equivalent5 include cash in hand, deposits held 8t call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnanclal Instruments The trust ha5 elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument. Financial asset5 and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amount5 and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
NEW GENERATION CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (Continued) Basic financlal assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 8asic financlal liabllltles Basic financial liabilities, induding trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instnjment is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordlnary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due withln one year or 18ss. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of flnancial liabllitles Financial liabilities are derecognised when the trust's contractual obligations expire or are discharged or cancelled. 1.10 Employee banefrts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termlnatlon benefits are recognised immediately as an expense when the tW8t Is demonstrably commltted to temilnate the employment of an employee or to provide tenninatlon benefits. 1.11 Retirement beneflts Payments to defined contributlon retirement benefit schemes are charged as an expense as they fall due. 1.12 Taxation The trust is a charity, and in the opinion of the trustees its incoming resources are not subject to Corporation Tax. 10-
NEW GENERATION CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlons and legacies Unrestrlcted Restrlcted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts 294,255 16,700 310,955 262,692 14,444 277.136 Donatlons and glfts Donations and gifts Gift aid receivable 250,588 43,667 16,121 579 266,709 44,246 216,248 46,444 13.726 718 229,974 47,182 294,255 16,700 310,955 262,692 14,444 277,136 Incom• from charltable actlvltles Unrestricted Unrestricted funds funds 2024 2023 Charltable actlvitles Sale of goods Charitable rental income 8,317 3,134 6,842 4,470 11,451 11,312 Incom• from Investm•nts Unrestrfcted Restrlcted funds funds 2024 2024 Total Unr8Stricted R8Strlcted funds funds 2023 2023 Total 2024 2023 Interest receivable 510 772 1,282 138 126 264 Other income Unrestrlcted Unrestrlcted funds funds deslgnated designated 2024 2023 Scrappage of motor vehicle 9,000 11
NEW GENERATION CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Exp8ndlture on charltable actlvltles Charltable activltles Charitable activities 2024 2023 Dlrect costs Staff costs Depreciation and impairment Special 8Ctiwties, projects and event5 Catering and consumables Resource costs Travelling expenses Postsge and stationery Licences and subscriptions School project Training Equipment Cleaning Sundry Lark in the Park 126,172 4,261 18,865 7,930 6,669 9,041 1,991 3,899 227 3,651 560 2,805 1,105 1,834 121,187 4,333 23,936 7,000 4,490 8,927 9,118 3,470 252 1,038 546 3,173 1,107 925 189.010 189,502 Grant funding of activities (see note 7) 38,510 29,694 Share of support and governance costs (see note 8) Support Governance 71,560 4,262 67,076 2,990 303,342 289,262 Analysls by fund Unrestricted funds- general Restricted funds 284,426 18.916 275,499 13,763 303.342 289,262 Grants payable CharltabSe activities 2024 Charitable activities 2023 Grants to institutions: Other 24,725 20,530 Grants to individuals 13,785 9,164 12-
NEW GENERATION CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to actlvltles 2024 2023 Rent and rates Insurance Utilities Repairs and maintenance Telephone Computer expenses Bank charges Governance costs 44,006 3,366 10,578 7,477 2,334 3,363 436 4,262 41,084 3,962 8,617 4,080 2,391 6,574 408 2,990 75,822 70,066 Charitable activities 75,822 70,066 2024 2023 Governance costs comprise: Legal and profe55ional ALLuuniaiicy and independent examination 1,298 2,964 380 2,610 4,282 2,990 Net movement in funds 2024 2023 The net movement in funds Is stated after chargingl(crediting)'. Depreclatlon of owned propety, plant and equipment 4,261 4,333 10 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year. No trustees were reimbursed for any expenses during the year. The total aggregate amount of unrestricted donations received from the trustees and persons connected to them amounted lo £17,048 (2023: £10,430). 13-
NEW GENERATION CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Employment costs 2024 2023 INages and salaries Social security costs Other pension costs 118,906 2,365 4,901 114,442 2,214 126,172 121,187 There were no employees whose annual remuneratlon was more than £60,000. Remuneratlon of key management personnel The remuneration of key management personnel was as follow5.. 2024 2023 Aggregate compensation 53,972 51,962 12 Taxation The charity Is exempt from taxation on its activities because all its income is applied for charitable purposes. 14-
NEW GENERATION CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Property. plant and equipment Furnlture and flxtures orrice equlpment Motor AV equlpment vehlcles Totsl Cost At 1 April 2023 Additions Disposals 29.006 27,863 3,960 5,000 45,579 107.448 3,960 (5,000) (5,000) At 31 March 2024 29,006 31,823 45,579 106,408 Depreclatlon and Impalrment At 1 April 2023 Depreciation charged in the year Eliminated in respect of disposals 24,572 887 25,495 1,286 5,000 35,043 2.108 90,110 4,261 (5,000) (5,000) At 31 March 2024 25,459 26,781 37,151 89,371 Carrylng amount At 31 March 2024 3,547 5,062 8,428 17,037 At 31 March 2023 4,434 2,368 10,536 17,338 14 Trade and other recelvables 2024 2023 Amounts falllng duo wfthin one year: Other receivables 9,995 19,935 16 Current Ilabllltlos 2024 2023 Other taxation and social security Accruals and deferred income 2,689 11,474 2,412 4,110 14,163 6,522 16 Retlrement beneflt schemes 2024 2023 Deflned contrlbutlon schames Charge to profit or loss in respect of defined contribution schemes 4.901 4,531 The trust operates a deff ned contribution pension scheme for all qualifying employees. The assets of the scherne are held Separately from those of the trust in an independently administered fund. 15-
NEW GENERATION CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Restrlcted funds The income funds of the charity include the following restricted funds for donations and grants given on trust for specific purposes.. At 1 Aprfl 2023 Incomlng resourcas Resources expended Transfers At 31 March "2024 Lark in the Park Hampers Building fund Hardship fund Asha fund Into the Future Ukraine Van fund Minibus fund 5,528 2,877 1,063 4,181 835 (4,527) (1,222) 3,878 159 5,500 (159) 3,500 88,981 4,275 21 9,252 1,573 78,642 2,520 21 9,252 1,873 (2,231) (3,500) 300 7,436 1,000 {7,436) 1,000 89,830 17,472 (18,916) 9,000 97.188 Prevlous year.. Incomlng resources Resources expended Transfers At 31 March 2023 2022 Lark in the Park Hampers Building fund Hardship fund Asha fund Into the Future Ukraine 6,030 241 50,194 4,926 659 670 4,107 751 21 (1,161) (960) 5,528 49 14,680 (49) 3,500 68,981 4,275 21 9,252 1,573 (1,353) (3,500) 9,252 8,362 (6,7891 70,643 14,570 13,763 18,180 89,630 Lark In the Park fund - Lark in the Park Is an annual community festival the Church established and helps run with other churches and groups. It is now a separate charity. Hampers fund - these were monles glven to prepare and donate Christma5 hampers. Building fund - this represent5 monies donated for property maintenance and future acquisitions of property. Hardshlp fund these are rnonies given to the Church forthe support of people in hardship. Asha fund - the Asha fund represents monies collected and distributed for charitable work in India. Into the Future - this is a restricted fund for monies received for special projects. Ukraine fund - this is a restricted fund for monies received for Ukraine humanitarian relief. 16-
NEW GENERATION CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Restrlcted funds (Contlnued Van fund this represents restricted donations towards the cost of a van acquired by the New Generation Community Trust and transferred to them in the year. Mlnlbus fund - this represents a restricted donation towards the cost of a new minibus, 18 Unrestricted fund8- deslgnatad These are unrestricted funds which have been set aside by the Trustees for a propos&d future purpose. At l Aprll 2023 Incomlng At 31 March resources 2024 Minibus fund 9,000 9,000 Mlnlbus fund this represent5 the scrappage allowance for the old minibus set aside as a designated fund 'towards the cost of a new minibu5. 19 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. At 1 Aprfl 2023 Incomlng resources Resources expanded Tran8f8rs At 31 March 2024 General funds 107,312 306,216 (284,426) {9,000) 120,102 Prevlous year: At 1 Aprll 2022 Incomlng resources Resources expended Transfers At 31 March 2023 General fvnds 126,849 274.142 (275,499) (18.180) 107,312 17-
NEW GENERATION CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Analysis of net assets between funds Unrestricted Unrestricted funds funds general deslgnated 2024 2024 Restricted funds Total 2024 2024 At 31 March 2024: Property, plant and equipment Current assetsl(liabilities) 17,037 103,065 17,037 209,251 9,000 97,186 120,102 9,000 97,186 226,288 Unrestrlcted Unrestrlcted funds funds general deslgnated 2023 2023 Restricted funds Totsl 2023 2023 At 31 March 2023: Property, plant and equipment Current assetsl(liabilitie5) 17,338 89,974 17,338 179,604 89,630 107,312 89,630 196,942 21 Flnanclal commltments, guarantaas and contlngent Ilabllitles The Trust has a Manse leaseback arrangement with its Pastor at a rental of £13,800 per annum determined on one months notice. 22 Related party transactlons There were no dlsclosable related party transactions during the year (2023- none). 18-