NEW LIFE FOR ALL NATIONS GOSPEL CHURCH 

FINANCIAL REPORT FOR THE YEAR ENDED 30 NOVEMBER 2020 



## NEW LIFE FOR ALL NATIONS GOSPEL CHURCH 

## INCOME & EXPENDITURE STATEMENT 

FOR THE YEAR ENDED 30 NOVEMBER 2020 

|Income<br>Administrative Expenses<br>Net Income surplus for the year<br>Net surplus brought forward<br>Net surplus carried forward||2020<br>95,755<br>-77,410|
|---|---|---|
|||18,345<br>22,242|
|||40,587|



The principal activities of New Life For All Gospel Church is the provision of extensive ranges of spiritual and religious charitable services , and intends to do so more extensively in the years to come 

It is the Trustee's responsibility to ensure the financial statements prepared give a true and fair view of the state of affairs of the church as at the end of the Financial year, and the surplus/deficit for the year; and in addition, reasonable and prudent judgements and estimates have been used in the preparation of the accounts 

## **Trustees** 

Ms Sarah Olaleye Mr Aayomi Durojaiye Mrs Folashade Davies Mrs Oluwatoyin Dada Pastor Israel O Pelumi Mr Lawrence Mbala Ms Oluwatoyin Ajimate Mr Diekola Oladele 



## NEW LIFE FOR ALL NATIONS GOSPEL CHURCH 

## BALANCE SHEET AT 30 NOVEMBER 2020 

|Fixed Assets<br>**Current assets:**<br>Debtors<br>Cash in hand and bank<br>**Current liabilities:**<br>Accruals and trade creditors<br>Represented by:<br>Unrestricted reserves b/f<br>Income surplus for the year|-<br>23,711||2020<br>18,456<br>22,131|
|---|---|---|---|
||23,711<br>-1,580|||
|||||
||||40,587|
||||22,242<br>18,345|
||||40,587|





## NEW LIFE FOR ALL NATIONS GOSPEL CHURCH 

## INCOME & EXPENDITURE STATEMENT 

FOR THE YEAR ENDED 30 NOVEMBER 2020 

## NOTES TO THE ACCOUNT 

## 1 Accounting Policies 

a) Basis of Accounting 

The financial statements have been prepared under the historical cost convention 

|2<br>Debtors<br>Rent deposit<br>Prepayment<br>3<br>Creditors<br>Amount falling due within one year:<br>Trade creditors<br>Bank overdraft<br>Accruals and creditors||2020<br>-<br>-|
|---|---|---|
|||-|
|||-<br>-<br>1580|
|||1,580|



- 4 Charitable registration The organisation is a registered charity and with the Charity Commission registration no. 1116758 

5 Historical Cost Profit and Loss 

All assets are stated in the financial statement as historical cost. 

Therefore no adjustments are required to the reported profit which is stated on an unmodified historical cost basis. 



## NEW LIFE FOR ALL NATIONS GOSPEL CHURCH 

## STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 30 NOVEMBER 2020 

|Income:<br>Council grant<br>Tithes and offerings<br>Other income - gift aid<br>Less: Administrative expenses<br>Honoraria and gifts to missions<br>Evangelism<br>Benevolence and love gifts<br>Rent<br>Rates<br>Light and heating<br>Repairs and maintenance<br>Printing, postage and stationeries<br>Legal and professional fees<br>Telephone and internet<br>Motor and travelling<br>Accountancy<br>Depreciation<br>Lease written off<br>Members welfare and PPE<br>Net surplus for the year|8,965<br>2,800<br>35,800<br>10,878<br>220<br>984<br>2,387<br>278<br>1,290<br>1,295<br>1,046<br>750<br>1,637<br>500<br>8,580||2020<br>10,000<br>79,781<br>5,974|
|---|---|---|---|
||||95,755<br>-77,410|
||77,410|||
||||18,345|



Signed by 

Mrs Oluwatoyin Dada Trustee 

Mr Lawrence Mbala Trustee 



## NEW LIFE FOR ALL NATIONS GOSPEL CHURCH 

## STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 30 NOVEMBER 2020 

## COMPILATION REPORT TO TRUSTEES OF THE CHURCH 

We have examined the Accounts on pages 1  according to Accounting principles of un-audited financial statement. 

We report that the accompanying Financial Statements have been compiled from records kept by the church and information supplied by the Trustees. 

We have not audited the accounts and accordingly, do not express an opinion or any other form of assurance. 

ALLY   BOATMAN COLLINS (ACCOUNTANTS) 62 BEECHWOOD ROAD LONDON E8 3DY 

30-Jul-21 



## NEW LIFE FOR ALL NATIONS GOSPEL CHURCH 

## STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 30 NOVEMBER 2020 

## SHEDULE OF FIXED ASSETS 

|NBV at 1 December 2019<br>Addition during the year<br>Depreciation year charge<br>NBV c/f at 30 November 2020||**Furniture**<br>**& fittings**<br>3,046<br>3,500<br>6,546<br>-1,637|**Leasehold**<br>**Property**<br>7,500<br>7,500<br>-500<br>7,000||**Total**<br>10,546<br>3,500|
|---|---|---|---|---|---|
||||||14,046<br>-2,137|
|||11,456|||18,456|