REGISTERED COMPANY NUMBER: 05854630 (England and Wale$) REGISTERED CHARITY NUMBER: 1116023 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 FOR NEW COMTrtUNITY C E LONDON Chariot House Lirnited Chartered Accountants 44 Grdnd Pardde . Brighton East Sussex BN2 9QA
NE MMUNITY HSELO COIYTENTS OF THE FI ANCIAL STATE FOR THE YE NDED 31 AUG T 2024 TS Page Report of the Trustees Independent Examiner's Report Stat¢mellt of Finanelal Activities Balance Sheet Cash Flow Ststement io Noto8 to the Cash Flow Statement Not¢s to the Financial Statements 12 to 22
WCOM ITY CHU E LONDO IsrERED ER: 05854 PORT OF THE TRUSTE R THEYE EM)ED 31 A ST 2024 The truste who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial 5tstements of the tharity for the yfdr ended 31 August 2024. The tNstees have adopted the provisions of Accounting and Reporting by Charitie5: Statement of Rgcommended PrdGtic¢ applicable to charities preparing their accounts in accordance with thc Financial Reporting Standard applicable ill the UK 2nd RepubEic of Ireland (FRS 102) (effecttve l January 2019). ORJEcfivES AND ACTIVITIES Objectives and aims The objectives of the Charity, in arwrdance with the MemoTandum of Association, are:_ The advancement of the Christian faith. and - The furtherance of the work of the Charity by the advanrement of such other tharitable purposes a5 the Twstees shall from time to time deGide. Public benefit The Trustees have reviewed the Charity Commission's guidance on public benefit. We believe the impact of the Christian faith should extend beyond the church walls, bringing hope and transforniation to the wider community. The message of Jesus offers good news not only to our members but to everyon¢ around us, with the power to positively impact lives both spirituaIly and practically. Because we believe in a God who loves all people unconditionally> we wamily welcome anyone to attend our services, courses, and groups. Our Se1¢e8 are open to au, providing genuine benefit to everyone who engages with them. regardless of whether they choose to become Christians. We are committed to offering support that enriches individuals and contributes posltively to society as a whole. Pagc I
NEW MUNITY C RCHSELO GIST D NUMBER: O PORT OF THE TRUSTEES FOR THE ENDED 31 UST 2024 STRATEGIC REPORT Achievement and performance Charitable activities Church Venues Attendance at our thrEe meetings in SidGup and Eltham continued to grow. experiencing an inGre&8e of over /0. Additionally, 25 individuals were baptised, and w¢ welcomed 24 new Members who successfully completed our DNA membership coursc. We also maintained our use of St. Andrew'5 Church in Albany Park, where we ran a youth cafe and Box Fit cl&sses for local children. Th¢se initiatives quickly gained popularity, rcinforcing our engagement with the local community. Ministries Youth The weekly youth community continued to have 30 to 40 young people attending from all our services. A significant development was our strengthened connections with other church youth groups. We hosted several worship nights. fostering relationships between our youth and young Christians from neighbouring Churches. Additionally, we took 10 Year 13 students to Brazil in partnership with Agape Church. Newday, the annual youth festival, was also a highlight, with nearly 70 youth attending. Studellts The year began with a Freshees Fair at Rose Bruford College's Freshers, where students were invited to ty Ghurch and which led tr) a significant number of first-time attendees. Throughout the year, a strong student community was established, including Sdents from both Rose Bruford and Bird College, marking a breakthrough for Bird College students. Several students joined serving teams, four students were baptised and we had a huge turn out for the Christmas event. By year-end, 26 students had attended ¢hur¢h, with a committed core group regularly following Jesu serving, and participating in community. Social Actio Play Cafe Play Café remained a popular place for parents and carers of children aged 04, attracting 40-50 adults each week. We focused on building relationships and explored ways to offer support or introduce the parents to the church. During the year the team received training on the Alpha Course, and we began offering a weekly English class to support an Iraqi r¢ee, This initiative woved successful, leading us to plan an expansion of the Glasses in September. ve Bexlry Amid th¢ ongoing cost of living Grisis, Love Bexley continued to serve as a trusted distributor of the Bexley Household Support Fund. From 1st July 2023 to March 2024. we received £50,000 from the council which enabled us to meet the needs of over 200 families. then in April 2024 wc reiVed a further £20,000 which sUPPOrted over 90 famili¢s. Items ranged from beds, white goods and cookeT5 to heating and food vouchers. Foodbank Bexley Foodbank, part of The Trussell Trust, operdtes a distribution centre from New Community Church. Increasing again this year, 479 food vouchers were fulfilled. and as a church we donated 1,661kg of food. In addition, the Sxdcup venue continued lo'be a drop off point and more than I1.155kg of food .and toiletry items were donated from the community. Extsrnal SU ort: As a church, we fmancialEy supported a number of Charities on a monthly or annual basis, including.. New Ground, the family of churches that we belong to that is committed to raising leaders, impacting Gommunities, planting churches and reaching nations. Power the Fight. which exists to empower ¢ommunities to end youth violenGe by working with young people, families, schools, local authorities, faith groups and community organisations who want to be equipped to engage with youth violence issues in their context. Page 2
MNIUNI HURCH S E DON REGI D NUMBE 4630 REPORT OF THE TRUSTEES FOR THE Y R ENDED 31 A UST 2024 - Unreaeh¢d Network, which exists to cfrordinate b&8t practice in cross-culturai mission across the global Newfrontiers network of churchcs. - Jubilee Plus, which equips churGhe5 to change the lives of those in povty in their communities. John 3:16 Trust, which exists to help to see the gos1 preache the sick healed. the faith defended, the saints equipped, believe rs taught and to write books in such a way as to advance the Christian faith. - Compassion, whith works to end child povety by connecting thildren in need with local churches who Ca for them by fighting malnutrition, offering medical care and more. - IntsrnatiollAI Justice Mission. h&s a mission to protect people in povety from violence by rescuing victitns, bringing criminals to jlLStic4 restoring survivors to safety and strength. and heIping local law enforcement build a safe future that 1&8ts. Financial review Financial position The Charity derives the majority of its income from voluntary donations and associated income tsx recovery in r¢sp¢rt of "gift aid" donations. During this accounting period, 99 percent of income came from this source and a further I percent of income ¢ame from non-budgeted activty and interest on deposits. Reserves policy The Trustees, Reserves Policy is to hold reserves of three months. turnover to be prudent. During this a¢¢ounting period reserves were consistently in excess of this amount, and at year end unrestrictsd re5crves were £1,290,305. Designated reserves of £435,529 represent the acquisition and development cost of the premises of the charity, 24 Ststion Road, reducing on an annual basis through related depreciation. The Yearnd balance for total designated rcsetves was £513,988. Key Management remuneration: The total remuneration for Key management personnel was £290,305 (2023 - £237,674). Impa¢t on fAnceS Gifts Gifts to external organisations and individuals are considered by the Elders and Trustees on the basis of need and fifilment of charitsble objectives. There is no upper limit of suppo SERIOUS INCIDENT In OGtober 2023, New Community Church was victim to a sophisticated online cyber frdud, to which we lost £285,000. resulting in the submission of a serious incident report to the Charity Commission. Of the total stolen, £145,076.84 was recovered and r¢funded within a few month5 by Barclays. We instrncted Tene and Associates Solicitors to act on our behalf in filing a complaint with the Financial Ombudsman Service (FOS) regarding Barclays atLd their handling of both the initiaI frdud incident and the subsequent follow-up. As a result of the FOS investigation, BarGlays made an offer to resolve the complaint. This offer was prdyerfully )nsidered by the elders and trustees who unanimously agreed to go back to Barclays with a counteroffer and an upward negotiation with the hope of receiving as much of the outstanding as possible. However. frjllowing BarGlays' response to our offer and advice from our legal team in consultation with the FOS investigator. we settled the claim, accepting an off¢r of £69,691.58 plus 1.5D/o interest. Therefore the total amount recovered and returned to New Commurtity Church W&8 £216,251.72. Immediately following the frau intgrnal reviews were undertaken on a number of areas inGluding cybersecurity and financial processes. to ensure all systems, int¢mal processes and procedures were fit for purpose. The rc5ulting recommendations continu¢ to be regularly evaluated by the management team, under the governance and direction ofthe Trustee Board. Page 3
NEW CO ITY CHURC NDON RED NUMBER: O REPORT OF THE TRUSTEES R THE YEAR ED 31 AUGUST STRATEGIC REPORT Future plan5 The Sunday 10:30am meeting in Sidcup has experienced steady growth over the past few years. and we now stepping into an exciting new season. In response to thi5, later in 2025, we will be multiplying into two morning meetings, creating more space for people to encount¢r God and be part of our church family. This development marks a significant Step forward for the church, pmviding greater OPFKJrtunity for growth and engagement. As part of this transition, every team will need to expand. and the congregation will be encouraged to take on new roles in serving. This move represents both a faith challenge and an exciting opportunity to build a stronger, more connected church community. We were excited to welcome two new elders recently, further strengthening th¢ leadership team for the Eltham COngation. Both the Sidcup afternoon and Eltham meetings are thrivin& with increasing attendance and a deepening sense of community. As we experience this momentum. we are actively exploring what multiplication could look like for th¢se congregations. Following the internal reviews, we made the stratsgi¢ decision to outsource our finances and HR and appointed organisations to oversee this. This mov¢ aIlow¢d us to streamline operation8 ensu compliance with best practices, and fre¢ up our team to focus on ministy and mission. By leveraging extemal expertise, we will be able to enhane efficiency. improve finanGial stewardship, and provide batsr support ftlr our staff and congregation. Additionally, we have begun the process of restructuring our staff tsam to bring greatsr clarity to roles and responsibilities, ensuring a stronger foundation for the future. In January 2025. it was aTmounced that lames Silley, the leader of New Community ChurGb, will step into the leadership of New Ground Churche5 from July 2025. This is an exciting new chapter, strengthening New Community Chur¢h's conn¢ctions with the nations while bringing fresh vision and energy to New Ground. STRUCTURE. GOVERNANCE AND MANAGEMENT Constitution New Community is registered as a charitable company limited by guarantee ar was set up by a Memorandum of Association, Charity number 1116023, Company number 5854630. Registered address is 24 Station Road, sidp1 DA15 7DU. Recruitment and appolntment of new trustees The Trustees of the charity are also Directors of the charitable company. The management of New Community is the responsibitity of the Trustees who are elected and co-opted under the ternis of the Memorandum and Articles of AssoGiation. Truste¢s 8re recruited from within the church mCmbship and they receive induction training and are kept up to date with inforniation that is relevant to managing a charity and a voluntary organisation. Included withln the agenda for eath Trustee meeting, is a Governance item drawing attention tr) relevant items from the Charity Comtnission's website, including the wider lesson5 frnm Inquiry Reports. These are included to help train. develop and maintain the competence of the Trustees. Page 4
NEW NITY CH DON KGI D NUMBER: 0585 REPORT THE TRUSTEES THE YEAR EIYDED I AUGUST 2024 STRUCTURE, GOVERNANCE AND MANAGEMENr OrgAnisationAI structure The Trustees are responsible for the management and athninistration of the Charity and its &ssets along with ensuring the income of the Gharity fiberS the charitable objects. The Elders are responsible for setting and overseeing the strategy, vision and spiritual leadership of the church. EldeTS ar¢ rewgnised and appointed on the b&sis of the biblicaI requir¢ments for Eldership. The Eldership Team compri5¢S: James Silley Lead Elder (staffj Jon Brown Elder (staffj Nemi Inimgba Elder (non-staff) Dayo Kolajo Elder (non-staff) Reuben Lyons Elder Ooined staff team on 1st January 2024) Joe Symeou Elder (staft) The Eldership tsam is supported by the New Community staff team and many volunteers who a5SiSt in the general day-to-day running of the charity and the variou5 ministries and ev¢nts that are run. Inductlon and trAining of new trustees When considering new Trustee appointments the Elders and existing Trustees select prospective new members based on their Christian experience and prnfessional skill set. The Agenda for each Trustse meeting includes a Governance item drawing attention to relevant items from the Charity Commission's website, including the wider lessons from the Inquiry Reports. These are included to help train, develop and maintsin the competsnce of the Tnthes. Key management remuneration The totaI remuneration for Key Management Personnel was £237,674 (2022: £253,025). Risk management The Trustees are responsible for ensuring all the major risks to the church are reviewed and assessed on a regular basis. A risk management register h&8 been completed and is reviewed regularly along with all policies and procedures that are in place, covering areas such as safeguarding and financial procedures. REFERENCE AND ADMINISTRATIVE DETAILS ReEiStered Company number 05854630 (England and WaIes) Registered Charity number 1116023 Registered office New Community Church Centre 24 Station Road SidGup Kent DA15 7DU Trustees T Adeleyc P Makambe L O O Johnson M Aiyeola C M Crozier (resigned 31n12024) N J Lewis Page 5
NEW commuNy CHUR H S E LONDON EGISTEBED NUIVIBEIL. 05854630 REPORT OF THE TR TEES FOR THE YEAR ENDED 31 AUGUST 2024 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Dr Shona F Wardrop C.A. Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA Banker5 Barclays Bank PLC 76A New Road Gravesend DAII OAF Report of the trustees, i directors, on ................ .. .. ratin a strategic repor¢ approved by order of the board of twstees, as the company . and signed on the board's behalf by: T Adeleye- Trustee Page 6
INDEPEND NKW CO EXAMINE Nrry CHURC EPORT TO TH E LONDON STEES OF Independent examiner's report to the trustees of New Community Chureh S E London ('the CompAny') I report to the charity trustees on my examination ofthe accounts of the Company for the year ended 31 August 2024. Re5ponsibiliti¢s 2nd basis of report As the charitys Iw5tee5 of the Company (and a150 its directors for the purposes of cornpany law) you are responsible for the preparation of the accounts in accordance with the requirements of the Cornpanies Act 2006 ('the 2006 Acv). Having satisfied myself that the accounts of the Company are not reqUId to be audited under Part 16 of the 2006 Act and are eligible for independent exatnination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (Ihe 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement SinG¢ your charity's gr05s income exceeded £250,000 your examiner must be a member of a listed body. I can confimi that I am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants of Swtland, which is one of the listed bodies. I have completed my examination. l Confirm that no matters have come to my attention in ¢onn¢ction with the examination giving me cause to believe: awunting reci)rds were not kept in respect ofthe Company as required by Section 386 of the 2006 Act. or the wKounts do not accord with those records. or the accounts do not comply wilh ihe aOUntIng 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 accounts have not been prepared in aordanCe with the methods and principles of the Statement of Recommended Prartice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Treland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the acUllts to be reached. Dr Shona F Wardrop C.A. The Institute of Chart¢red Accountants of Scotland Chariot House Limited Chartered AGcountaTJts 44 Grand Parade Brighton East Sussex BN2 9QA Page 7
COMMU CHURC LONDON STATEMENT OF F ANCIAL ACTIVITI FOR THE YE R ENDED 31 AU T 2024 2024 Total nds 2023 Total funds Unrestricted fund5 Restricted funds Notes INCOME AND ENDOWMENfs FROM Donations and legacies 876512 21.232 897,744 874,840 Cbarttable activitie5 Build Local Church External Ministry 41.786 317 45,483 1,285 87,269 1,602 72.748 Inv¢stment income 13,370 13,370 5.691 Totsl 931,985 68,000 999,985 953,279 EXPENDITURE ON Charitable activitie5 Build Local Church External Ministy sla1 Aotion 952,748 7,516 24,102 70.187 1,022,935 7,516 25,388 917,481 1,340 5,300 1286 Total 984,366 71,473 1,055,839 924,121 NET INCOMEI(EXPENDITURE) {52J81) (3,473) (55,854) 29,158 RECONCILIATION OF FUNDS Totsl funds brought forward lJ43,186 55.390 1,398,576 1,369,418 TOTAL FUNDS CARRIED FORWARD 1,290,805 51,917 1,342,722 1,398576 The notes fonn part of these fllianGial statements Pagc 8
MNtUNITY CHURCH S E LO GISTERED NUIVIBER: 0585 BALANCE SHEET 31 AUGUST 2024 2024 Total fidS 2023 Total fimds Unrestricted fimds Restricted fidS Notes FIXED ASSETS Tangible assets 12 485,010 485,010 510,841 CURRENT ASSETS Debtors C&sh at bank aud in hand 13 106290 721299 106,290 773,224 22,459 952,402 51.925 827,589 51,925 879,514 974,861 CREDITORS Amounts falling due within one year 14 (21,794) (8) (21,802) (87,126) NET CURRENT ASSETS 805,795 51,917 857,712 887,735 TOTAL ASSETS LESS CURRENT LIABILITIES 1,290,805 51,917 1,342,722 1,398,576 NET ASSETS 1,290,805 51,917 1,342,722 1,398,576 FUNDS Unrestricted funds Restricted funds 15 1,290,805 51,917 1,343,186 55,390 TOTAL FUNDS 1,342,722 1,398,576 The charitable cornpany is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024. The members have not required the company to obtain an audit of its fmancial statements for the year ended 31 August 2024 in accordance with Section 476 of the Cotnpanies Act 2006. The trustees aclinowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing fmancial StateentS which give a true and fair view of the state of affairs of the charitable company as at the end of each fmancial year and of its surplus or defLCit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to fmancial statetnents, so far as applicable to the clwitable company. (b) The fa ial ents were approved by the Board of Trustees and authorised for issue . and w¢r¢ signed on its behalf by: on T Adeleye - Trus ee The notes fonn part of these fmancial statements Page 9
NEW COM TY CHURCH S CASH FLOW S TEMENT FORT YEAR ENDED 31 AUG T 2024 2024 2023 Notes Cash flow5 from operating activities Cash generated from operations (163,522) 148,222 Net cash (used inyprovided by operating activitie5 (163,522) 148222 Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets (15,656) (34,592) 473 Net cash used in inv¢sting activitie5 (15,656) (34,119) Change lu cash alld cash equivalents in the reporting period Cash and cash equivalents at the beginnlng of the reporting period (179,178) 114,103 952,402 838299 Cash and cash equivalents at the end of the reporting perlod 773,224 952,402 The notes forn] part of these financial statements . Pag¢ 10
IYEW COM TY CHU E LONDO NOTES TO FOR THE HE CASH FLO EAR EM)ED 3 ST ATEME UST 2024 RECONCILIATION OF NET (EXPENDITUREYINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net (expenditure)lincome for the reporting period (as per the Statement of Finallcial Activities) Adjusttnents for: Depreciation charges (Increaseydecrease in debtors (Decrease)lincrea5e in ¢reditors (55,854) 29,158 41.487 (83,831) (65.324) 40,560 10,509 67,995 Net cash (used inyprovtded by operations (163,522) 148,222 ANALYSIS OF CHANGES IN NET FUNDS At 119123 Cash flow At 3118124 Net cash Cash at ballk and in hand 952,402 (179,178) 773,224 951402 (179,178) 773,224 Total 951402 (179,178) 773,224 The notes form part of these financial statements Page 11
COMllfU Y CHURC E LONDO NOTES T THE FINANCIAL STATEMENTS FORT E YEAR END D 31 AUGUST 2024 ACCOUNTING POLICIES Ba515 of preparing the financial stalemeDts The financial 5tstements of the charltable company, which is a public benefit ltity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their acwunts in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Iland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost nvention. The Truste¢s consider that ther¢ are no material uncertainties about the charity's ability to continu¢ as a going concem. The charity meets the definition of a public benefit entity as defined by FRSIO2. The fJnan¢ial statements are prepared in sterlin& which is the funrtional currency of the entity and are rounded to the nearest pound. Crftical accounting judgements and key sources of estlmation uncertainty In the application of the charity's acwunting policies, the Charity is required to make judgments, estimates and &ssumptions about the carying value of assets and liabilitie5 that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors considered to be relevant. Actual results may differ from these estimates. There are no estimates and &8sumptions that ar¢ consided to have a significant risk of causing a material adjustments to the financial statements in a future period. Income All incorne is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon &8 there is a legal or constrnctive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been ¢las$ified under headings that aggr¢gate all cost related to the category. Where costs cannot be dir¢rtly attributed to particular headings they have been allocated to activities on a basi5 consistent with the use of resources. TAngible rued assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Fithres and fittings Computer equipment Strdight ling over 25 years Straight line over10 years Straight line over 4 years Taxation The Charity is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK CotTM)ration T&x purposes. Accordingly the Charity is potentially eMpt from tsxation in respect of income or capital gains received within categories covered by Chapter 3 Part I I Corporation Tax Act 2010 or Sethion 256 of the T&xation of Chargeable Gains Act 1992. to the extent that such income or gains are appli¢d ¢xclusively to Gharitable purposes. Page 12 continued...
NE RCHSELO TES TO THE FINANCIAL STATEMENTS- continued FOR THE YE ENDED 31 AUG T 2024 ACCOUNTING POLICIES- continued Fund accounting Unrestrirted fund5 can be used in accordance with the charitable objectives at the discretion of the trustees. Restrictrd funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular re5triGted purposes. Further explanation of the nature and pUoSe of eath fijnd is included in the notes to the financial statem. Pension costs and other post-rctirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable mpany's pension schem¢ are charged to the Stalement of Financial Activities in the period to which they relate. Basic financial instruments The charity has only financial assets and fJnanGial liabilities of a kind that qualify as basic financial instruments. Basic fn¢la1 instNments are initially recognised at transaction value and are subsequently measured at their settlement value with the exception of bank loans which are measured at amorti5¢d Cost using the effective interest method. DONATIONS AND LEGACIES 2024 2023 Fellowship fund Offerings & wvenanted income T&x r¢coveries 21,231 741,082 135,431 8,106 731.256 135,478 897,744 874,840 IESTMENT INCOME 2024 2023 Investment income 13,370 5,691 INCOME FROM CHARITABLE ACTivrr 2024 2023 Build Local Church External Ministry Total activitlC5 Total activities Build local churGh ExtenwE Ministy Grdnts 42,269 42,269 1,602 45,000 30,759 1,989 40,000 1,602 45.000 87.269 1,602 88,871 71748 Page 13 continued...
HURCH NDON OTES R THEYE E FINANCI R ENDED 3 TATEMEN GUST 202 - eontinu INCOME FROM CHARITABLE AcrIvrriES- continupAI Grdnts received, included in the above, are as follows: 2024 2023 London Borough of Bexley 45,000 40,000 CllARABLE ACTIVITIES COSTS Direct Costs (see note 6) Support costs (see note 7) Totals Build Local Church Exten1 Ministy SociaI Adion 517,572 7,516 9,583 505,363 1,022935 7,516 25,388 15,805 534,671 521,168 1,055,839 Included in expenditure on Charitable Activities is an exceptional cost of £69,962. October 2023, New Community Church was victirn to a sophisticated online cyber frdud, to which the charity lost £285,000. The charity has been able to recover £216,252 of this loss. DIRECT COSTS OF CHARITABLE AcrivrriES Donatlons to Charitable Causes Included in Gifts and Donations of £74,407 were the following donations paid to charitable cause5 during the New Ground Churohes Power the Fight Jubilee Plus Catalyst Network of Churches John 3,.16 Trust Newday Generation Evangelical Alliance 48,1)00 2,400 2,400 1400 1200 800 450 Page 14 continued...
EWCO NITY C HSELOND TES TO THE FINANCIAL STATEII(ENTS- FOR THE Y RENDED 31 GUST 2024 SUPPORT COSTS Management Build Local Church Social Action 505,363 15,805 521,168 NET INCOMEI(EXPENDITURE) Net incornel(expenditurc) is stated after chargingl(crediting): 2024 2023 Depreciation- owned a5S¢ts Independent examination 41,487 3,120 40,560 3,000 TRUSTEES, REMUNERATION AND BENEFJTS There were no trustees, remunerntion or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. No Trustees were remunerated during the year to 31 August 2024. tn 2023, Mrs M Lyons w&s a trustee until 17 July 2023. Between I September 2022 and 17 July 2023 she received a salary of £39,728 together with contributions into a pension scheme of £3,973. No other Trustees directly received remunerdtion or benefft from the charity during the period. Trustees, expenses The charity paid for £135 of board expenses during the year to 31 August 2024. Reimbursement of expenses amounting to £ML (2023: £29) was paid to no (2023: 1) Trnstees. io. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 471,348 37,157 34.827 411,756 30,942 31,555 543,332 474,253 The average monthly number of employees during the year w&s as follows: 2024 19 2023 18 Pastors and administration Pag¢ 15 continued...
OM HURCH S E NOTES T THE FINANCIAL STATEME R THE YEAR E I AUGUST 2024 ontinued io. STAFF COSTS - continued The number of employees whose employee bgnefits (excluding employer pwsion costs) exceeded £60,000 w&s: 2024 2023 £60,001- £70,000 £70,001- £80,000 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted funds RestriGtsd funds Total fund5 INCOME AND EIYDOWMENTS FROM Donations and legacies 859,278 15,562 874.840 Charitable activltles Build Local Church 30,648 42,100 72,748 Investment income 5,691 5,691 Total 895.617 57,662 953279 EXPENDrruRE ON Charltable activities Build Local Church External Ministy Social Action 874,156 1,340 5,300 43,325 917.481 1,340 5.300 Total 880,796 43,325 924,121 NET INCOME Transfers between funds 14,821 2,801 14,337 (2,801) 29.158 Net movement in funds 17,622 11,536 29.158 RECONCILIATIOIY OF FUNDS Total funds brought forward 1.325.564 43,854 1,369,418 TOTAL FUNDS CARRIED FORWARD 1.343.186 55,390 1,398,576 Page 16 continued...
NEW TYC HS.EL TES TO THE FtNANCtA FOR THE R EfsDED 31 TATEMEYrs- GUST 2024 ntinued 12. TANGIBLE FIXED ASSETS Fixtures Freehold pNTrperty Computer equipment fittings Totals COST At I September 2023 Additions Disposals 892.gll 76.955 1,584 (2,045) 53,989 14,072 1,023,915 15,656 (2,045) At 31 August 2024 892,971 76,494 68,061 1.037,526 DEPRECIATION At I September 2023 Charge for year ElimiDat¢d on disposal 426,128 31,312 39,509 6,025 (1045) 47,437 4,150 513,074 41.487 (2,045) At 31 August 2024 457,440 43,489 51,587 552,516 NET BOOK VALUE At 31 August 2024 435,531 33,005 16,474 485,010 At 31 August 2023 466,843 37,446 6,552 510,841 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors Prepayments and accrued income 12 883 105,395 562 21,897 106,290 22,459 tncluded in Prepayments and accrued income for year ended 31 August 2024 is £69,962 aCcnd income relating to the amount of the fraud that the charity was able to recover in December 2024. Page 17 continued...
MMU HURCH S LONDON NOTES TO THE FINANCIAL STATEMENfs- t FOR THE YE ENDED 31 AU ST 2024 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Social security and other laxes Accruals and d¢f¢rred income 7,100 10,387 4,315 67.731 13,108 6,287 21,802 87.126 Is MOVEMENf IN FUNDS Net movement in fund5 At 3118124 At 119123 Unrestricted funds General fund Designated Building Fund Designated Building the Mission Designated Offering Fund Designated Gifts Fund 829,265 466,840 18,257 5,824 23,000 (54,449) (31,312) (18,257) 51,637 774,816 435,528 57,461 23,000 1,343.186 (52.381) 1290,805 Re5trictsd funds Fellowship Fund Building the Mission IJM Eltham venue Students Welling Venue Love Bexley Gift Day 2021 Wedding Gift Equipment for Youth London Borough of Bexley Welling Youth Cafe The Bridge Youth Cafe Social Action - Christmas Gift List 17,370 4,000 382 3,028 1,708 6,092 2,237 3,000 550 500 15,379 500 500 8,670 (4,000) 26,040 382 2,926 1,708 6,009 2,237 3,000 550 (102) (83) (500) (7,320) (500) 363 (i) 8.059 863 143 55 J90 (3,473) 51,917 TOTAL FUNDS lJ98.576 (55.854) 1,342.722 Page 18 continued...
NEWC HSELO NOTES TO THE FINANCIAL STATEMEI¥4TS- ton FOR HE YEAR ENDED 31 AUGUST 2 24 15. MOVEMENT IN FUNDS - tontiDued Net movement in funds. included in thc alK)ve are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund Designated Building Fund Designated Building the Mission Designated Offering Fund 876,366 (930,815) (31,312) (18,917) (3,322) (54,449) (31,312) (18.257) 51,637 660 54,959 93 l.985 (984,366) (52,381) Restrictsd fwids Fellowship Fund Building the Mission Eltham venue Welling Venue Equiprnent for Youth London Borough of Bex]ey Welling Youth Cafe The Bridge Youth Cafe So¢iaL Action - Christmas Gift List 21.232 (12,562) (4,000) (102) (83) (500) (52,320) (500) (120) (1,286) 8,670 (4,000) (102) (83) (500) (7,320) (500) 363 (i) 45,000 483 1,285 68,000 (71,473) (3,473) TOTAL FUIWS 999,985 (1,055,839) (55,854) Page 19 continued...
NEW ITYC HSELO TES TO THE FIIYANCIAL STATEMENTS- cfjnti FOR YEAR EIYDED 3 GUST 2024 15. MOVEMENT IN FUNDS - tontinued CompArative5 for movement in funds Net movemcnt in funds Transfers between funds At 3118123 At 119 Unrestrieted funds General fund Designated Building Fund Designated Building the Mission Designated Offering Fund Designated Gifts Fund 773,815 485,438 39,577 3,734 23,000 65,033 (30,982) (21,320) 2.090 (9,583) 12,384 829,265 466,840 18257 5,824 23,000 1.325,564 14,821 2,801 1.343,186 Restricted funds Fellowship Fund Building the Mission IJM Eltham venue Students Welling Venue Love Bexley Gift Day 2021 Wedding Gift Love Offering- Tony & Jenny Dark Offering Ukraine 2022 Equipment for Youth London Borough of Bexley Welling Youth Caft The Bridge Youth Cafe Social Aotion- Chrtstmas Gift List 17,594 4,000 382 3,724 1,740 7,000 2,137 3,000 550 2,945 282 500 (224) 17,370 4,000 382 3,028 1,708 6,092 2,237 3,000 550 (696) (32) (908) loo (2,945) (282) 500 15,379 500 500 144 15,379 500 500 144 43,854 14,337 (2,801) 55390 TOTAL FUNDS 1,369,418 29,158 1,398,576 Page 20 continued...
COMM HSELONDO NOTES TO FOR THE Y E FINANCIAL STATEME R ENDED 31 AUGUST 2024 - Continued MOVEMENT IN FUNDS- continued Comparative net movement in funds. included in the above are as follows: Incoming resources Resources ¢xpended Movement in funds Unrestricted funds Generdl fund Designated Building Fund Designated Building the Mission Dignated Offering Fund 843,412 {778,379) (30.982) (21,600) (49,835) 65,033 (30,982) (21.320) 2,090 280 51,925 895,617 (880,796) 14,821 Restricted funds Fellowship Fund Eltham venue Students Welling Venue Love Bexley Offering Ukraine 2022 LAJndon Borough of Bexley New Ground Welling Youth Cafe The Bridge Youth Cafe 8,107 (8,331) (696) (1,032) (908) (224) (696) (32) (908) loo (282) 15379 1,000 loo (282) (24,621 ) (7,455) 40,000 7,455 500 500 500 500 57,662 (43,325) 14,337 TOTAL FUNDS 953,279 (924,12L ) 29,158 Designated Funds Building fund - The building fvnd is an unrestricted fund designated by the Trustees and r¢lates to the cost of the premises Currently owned, plus its fixthres and fittings, less depreciation Building the mission- funds to be used for the putP05e of building the mission ofNew Community Church Offering fund - Donations made Since 2019120 with the specific purposes of giving it away to support Charities including IJM and River of Life Gift from AJ Phillips - to be used at the discretion of the Elders Restrieted Funds Fellowship fund - funds to be used to assist those within the church who are suffering from hardship or are in need Building the Mission - funds to be used for the puryjosc of building the mission of New Community Church how is this different to the designated fund aboveg IJM- funds given to be passed onto the Gharity International Jtice Mission Eltham Venue- funds given to be used specifically frir the Elthaln Venue Welling Venue- funds given to be used specifically for the Welling Venue Love Bexley - fjJnds given lo be used by Love Bexley to provide items for those refeed by frontlin¢ professionals Gift Day 2021- A special offering given by church member to be passed onto New Ground Wedding gift- A gift to help fund the wedding costs of those who cannot afford a wedding Group I1-18s- A donation for trips or equipment for Youth London Borough of Bexley Household Support Grant - A government scheme of funds given to be used in th¢ forni of white goods, furniture and vouGher5 to th05¢ in need in Bexley Welling Youth - Funds given to be spent on the youth café based in Welling Albany Park Youth- Funds given to b¢ spent on the youth café based in Albany Park Page21 continued...
OMMUNITY C E LONDON NOTES TO HE FINANCIAL STATEME YEAR ENDED 31 AUG 24 16. RELATED PARTY DISCLOSURES There were no related party transactions for the yvdr ended 31 August 2024. Page 22