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New Life For All Nations Gospel Church Charity No. 1116758

Trustees' Report and Unaudited Accounts For the year ended 30 November 2023

B M Cooper & Co. Limited Chartered Certified Accountants

88 Wood Lane

Dagenham Essex RM9 5SL

New Life For All Nations Gospel Church Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Accounts	7 to 12
Detailed Statement of Financial Activities	13 to 14

Page 1

New Life For All Nations Gospel Church Trustees Annual Report

The Trustees present their report with the unaudited financial statements of the charity for the year ended 30 November 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1116758

Principal Office

92 Manor Road Dagenham Essex RM10 8BB

Trustees

The following Trustees served during the year: Elizabeth Aigbedion Israel Pelumi Olutoyin Dada Oluwatotin Ajimate Oreoluwa Pelumi

Accountants

B M Cooper & Co. Limited 88 Wood Lane Dagenham Essex RM9 5SL

Bankers

HSBC Bank

FINANCIAL REVIEW

The total incoming resources for the period amounted to £41,713 (2022 - £27,533) and the total resources expended amounted to £37,026 (2022 - £45,526) leaving a net surlus for the period of £4,687 (2022 - £17,993 deficit). The balance of funds as at 30th November 2023 was £47,457 (2022 - £42,770).

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’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.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Page 2

New Life For All Nations Gospel Church Trustees Annual Report

STRUCTURE, GOVERNANCE AND MANAGEMENT

The church was established by a charitable trust deed dated 15th October 2006 which defines its objects and powers and is governed by the trust deed and the Charities Act 2011. The church was registered as a charity on 10th November 2006.

The trustees are familiar with the workings of the church being drawn from long-standing church members and christians from other denominations that have skill-set to offer empathy for our values. Trustees are encouraged to update themselves on issues concerning charities.

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

.....................................................

Elizabeth Aigbedion Trustee 17 September 2024

Page 3

New Life For All Nations Gospel Church Independent Examiners Report

Independent Examiner's Report to the trustees of New Life For All Nations Gospel Church

I report to the trustees on my examination of the accounts of New Life For All Nations Gospel Church for the year ended 30 November 2023 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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 accounts to be reached.

........................................

Mr. B. M. Kalejaiye FCCA ACCA B M Cooper & Co. Limited 88 Wood Lane

Dagenham Essex RM9 5SL

17 September 2024

Page 4

New Life For All Nations Gospel Church Statement of Financial Activities For the year ended 30 November 2023

Unrestricted funds 2023 £ 41,713	Total funds 2023 £ 41,713	Total funds 2022 £ 27,533
41,713 7,830 29,196	41,713 7,830 29,196	27,533 16,940 28,586
37,026 -	37,026 -	45,526 -
4,687 -	4,687 -	(17,993) -
4,687	4,687	(17,993)
4,687 42,770	4,687 42,770	(17,993) 60,763
47,457	47,457	42,770

Page 5

New Life For All Nations Gospel Church Balance Sheet At 30 November 2023

Charity No. 1116758 Fixed assets Tangible assets 8 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 9 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 10 Unrestricted funds 10 General funds Reserves 10 Total funds Approved by the trustees on 17 September 2024	2023 £ 7,723 7,723 41,914 41,914 (2,180) 39,734 47,457 47,457 47,457 47,457 47,457 47,457	2022 £ 8,964
		8,964 35,386
		35,386 (1,580)
		33,806 42,770
		42,770
		42,770
		42,770
		42,770
		42,770

And signed on their behalf by:

................................................... Oreoluwa Pelumi Trustee 17 September 2024

Page 6

New Life For All Nations Gospel Church Notes to the Accounts For the year ended 30 November 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Income
Recognition of	Income is included in the Statement of Financial Activities (SoFA) when the charity
income	becomes entitled to, and virtually certain to receive, the income and the amount of
	the income can be measured with sufficient reliability.
Income with related	Where income has related expenditure the income and related expenditure is
expenditure	reported gross in the SoFA.
Donations and	Voluntary income received by way of grants, donations and gifts is included in the
legacies	the SoFA when receivable and only when the Charity has unconditional
	entitlement to the income.
Tax reclaims on	Income from tax reclaims is included in the SoFA at the same time as the
donations and gifts	gift/donation to which it relates.
Donated services	These are only included in income (with an equivalent amount in expenditure)
and facilities	where the benefit to the Charity is reasonably quantifiable, measurable and
	material.
Volunteer help	The value of any volunteer help received is not included in the accounts.
Investment income	This is included in the accounts when receivable.
Gains/(losses) on	This includes any gain or loss resulting from revaluing investments to market value
revaluation of fixed	at the end of the year.
assets
Gains/(losses) on	This includes any gain or loss on the sale of investments.
investment assets

Page 7

New Life For All Nations Gospel Church Notes to the Accounts Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

useful life:
Leasehold property	25% written down value
Fixtures, fittings & equipment	25% written down vale

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 8

New Life For All Nations Gospel Church Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

New Life For All Nations Gospel Church Notes to the Accounts 2 Statement of Financial Activities - prior year

Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Tithes and offerings 4 Expenditure on charitable activities Expenditure on charitable activities Evangelism Honoraria and gifts to Missions Member's welfare and PPE Governance costs Accountancy fees Other legal and professional fees	Unrestricted £ 41,713 41,713 Unrestricted £ 3,840 2,900 490 600 - 7,830	Unrestricted funds 2022 £ 27,533 27,533 16,940 28,586 45,526 (17,993) (17,993) (17,993) 60,763 42,770 Total 2023 £ 41,713 41,713 Total 2023 £ 3,840 2,900 490 600 - 7,830	Total funds 2022 £ 27,533
			27,533 16,940 28,586
			45,526
			(17,993)
			(17,993)
			(17,993) 60,763
			42,770
			Total 2022 £ 27,533
			27,533
			Total 2022 £ 2,800 6,500 5,600 750 1,290
			16,940

Page 10

New Life For All Nations Gospel Church Notes to the Accounts

5 Other expenditure Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 6 Net income/(expenditure) before transfers This is stated after charging: Depreciation of owned fixed assets 7 Staff costs No employee received emoluments in excess of £60,000. 8 Tangible fixed assets Cost or revaluation At 1 December 2022 At 30 November 2023 Depreciation and impairment At 1 December 2022 Depreciation charge for the year At 30 November 2023 Net book values At 30 November 2023 At 30 November 2022 9 Creditors: amounts falling due within one year Accruals and deferred income	Unrestricted £ 1,001 26,315 1,241 313 326 29,196 2023 £ 741 Leasehold property £ 7,500 7,500 1,500 500 2,000 5,500 6,000 2023 £ 2,180 2,180	Total 2023 £ 1,001 26,315 1,241 313 326 29,196 Fixtures, fittings & equipment £ 6,906 6,906 3,942 741 4,683 2,223 2,964	Total 2022 £ 897 24,584 1,488 1,617 -
			28,586
			2022 £ 988 Total £ 14,406
			14,406
			5,442 1,241
			6,683
			7,723
			8,964
			2022 £ 1,580
			1,580

Page 11

New Life For All Nations Gospel Church Notes to the Accounts 10 Movement in funds

Incoming resources (including other gains/losses) £ 41,713 41,713 At 1 December 2022 £	Resources expended £ (37,026) (37,026) Unrestricted funds £ 7,723 39,734 47,457 Cash flows £	At 30 November 2023 £ 47,457
		47,457
		Total £ 7,723 39,734
		47,457
		At 30 November 2023 £
35,386	6,528	41,914
35,386 35,386	6,528 6,528	41,914
		41,914

Page 12

New Life For All Nations Gospel Church Detailed Statement of Financial Activities For the year ended 30 November 2023

Income and endowments from: Donations and legacies Tithes and offerings Total income and endowments Expenditure on: Charitable activities Evangelism Honoraria and gifts to Missions Member's welfare and PPE Governance costs Accountancy fees Other legal and professional fees Total of expenditure on charitable activities Motor and travel costs Vehicles - Fuel Premises costs Rent Rates Light, heat and power Premises insurances Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Fixtures, fittings & equipment Loss on disposal of intangible fixed assets Bank charges Stationery and printing	Unrestricted funds 2023 £ 41,713 41,713 41,713 3,840 2,900 490 7,230 600 - 600 7,830 1,001 1,001 22,090 1,366 1,754 455 650 26,315 741 500 144 -	Total funds 2023 £ 41,713 41,713 41,713 3,840 2,900 490 7,230 600 - 600 7,830 1,001 1,001 22,090 1,366 1,754 455 650 26,315 741 500 144 -	Total funds 2022 £ 27,533
			27,533
			27,533 2,800 6,500 5,600
			14,900
			750 1,290
			2,040
			16,940 897
			897
			20,500 220 984 755 2,125
			24,584
			988 500 - 322

Page 13

Sundry expenses Telephone, fax and broadband Legal and professional costs Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure) Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward New Life For All Nations Gospel Church Detailed Statement of Financial Activities	5 164 1,554 326 326 29,196 37,026 - 4,687 4,687 - 4,687 42,770 47,457	5 164 1,554 326 326 29,196 37,026 - 4,687 4,687 - 4,687 42,770 47,457	- 1,295
			3,105
			-
			-

			28,586
			45,526 -
			(17,993)
			(17,993) -
			(17,993)
			60,763
			42,770

Page 14

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