Registered number: 06162241
Charity number: 1119167
NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
CONTENTS
Page
Raf•r•nc• and Admini8trativa D•tails of the Charity, Its Trustaas and Advisers
Chalmian's Statement
Trustees. Report
Indep•nd•nt Auditors. Report on tho Financial Statements
Consolldated Statement of Flnancial Activiti•s
10-13
14
Consolldated Balance Sheet
15-16
Charity Balance Sheet
Consolldat•d Statamant of Cash Flows
17-18
19
Notes to tho Financial Statamants
20-40

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmlted by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2024
Trustees
Mr J O Awoniyi (resigned 17 March 2025)
Mr F H Clark
Mrs S J Clark
Mr D S Eyeington
Mrs L Grabs (appointed 5 September 2023)
Mr S G Halford
Mr O B Ojemuyiwa (appointed 5 September 2023)
Mr M J Thorman, Chairman (resigned 17 March 2025)
Mr M R Wightman (appointed 5 September 2023)
Mr T Williams, Chairman
Company ragistered
numb•r
06162241
Charity registered
number
1119167
Reglstered office
The Ridgeway Centre
Fealherstone Road
Wolverton Mill
Milton Keynes
Bucks
MK12 5TH
Company secretary
Mrs L Grabs
Independent auditors
Streets Audit LLP
Chartered Accountants
Potton House
Wyboston Lakes
Great North Road
Wyboston
Bedford
MK44 3BZ
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Page 1

NEW LIFE CHURCH MILTON KEYNES
(A Company Limit￿ by Guaranta•)
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024
The chairman presents his ststement for the year.
This financial year - September 2023 to August 2024 - was a year of growth and development in all areas. In
particular we invested in our staff team, making a number of appointments to support our ministry and large
volunteer team.
Throughout the year we focused from a vision point of view on three key items we felt God had directed us
towards..
Ministry- which was reflected in the launch of a dedicated prayer space
Mercy- which is reflected in our growing community action projects
Multiplication - which includes both numerical growth and a greater focus on belng disciples who make
disciples.
Our Sunday attendance has grown steadily and we have continued to offer Iwo morning services online with the
first one live-slreamed to YouTube. An ongoing challenge is recruiting volunteers to support the later service as
this tends to attract more visitors and those relatively new to the Ghurch. The earlier service is also favoured by
those with younger children and youth.
We continued to place a strong emphasis on developing discipleship tools and practice. As part of this we
launched a disciple-making pathway and put considerable time and effort into encouraging the church to use it.
Feedback from those using the tool is very positive.
Our staff team has continued to handle ongoing change with resilience and positivity. The new team structu
introduced in 2023 has worked well. Positives include our largest ever attendance at the newday youth week.
Financially we finished the year on a positive note with our conferencing business exceeding their financial
target. Those who regularly attend New Life Church continued to be generous in thelr support of the ministry
activities, and church giving income exceeded our budget plan.
During the year we have seen people of all ages coming to faith in Jesus and experienclng positive life
transformation. Our community action programme continues to support the vulnerable and lonely across the
city, and relationships with our global family have strengthened.
Mr T Williams
Chairman
Date..
03 .04 lols
Page 2

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present their annual report together with the audiled financlal statements of the Charlty for the 1
September 2023 to 31 August 2024. The Annual Report serves the purposes of both a Trustees. report and a
directors. report under company law. The Trustees confirm that the Annual Report and financial statements of
the charitab5e company comply with the current statutory requirements, the requirements of the charitable
company's governing document and the provisions of the Statement of Recommended Practice (SORP)
applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable
in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the group and the Charity qualify as small under section 383 of the Companies Act 2006, the Group
Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report
and Directors, Report) Regulations 2013 has been omitted.
Objectlves and actlvltlas
a. Pollcles and objectives
The trust is established to benefit the public by:
advancing Chrislianity in accordance with the doctrines of the faith
relieving people who are in charitable need, because of sickness or poor health, age, financial hardship
or some other reason
promoting and providing education (including vocational training)
promoting such other charitable objects as the Irustees shall from time to time determine.
The charity trustees have exerclsed thelr powers wilh due regard to the guidance on publlc benefit published by
the Charity Commission to promote the charity's objectives through our main activities, which are described
below. All our charitable activities focus on the four purposes outlined above,
b. Strategles for achi•ving objectives
The charitable objectives are met under the following six areas:
Sunday services
Familie5
Discipleship and community
Serving the city
Serving other churches
Global mission
Achi•vaments and performance
a. Maln achlevements of the Charity
Sunday services
We launched a second Sunday service in April 2023. and this has proved reasonably suc￿Ssful over months
relevant to this report. There is a challenge to address in terms of volunteer levels at the second service as it
attracts more visitors and those new to the church. The earlier service attracts far more families than the later
one.
Our online services have continued throughout the year with investment in new cameras and other equipment.
Page 3

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Achievements and performance (contlnued)
We live-stream the whole of the first service onto YouTube, taking appropriate steps to safeguard any under-
18s that may appear on camera. On Monday the video is edited to provide that week's sermon as an on-
demand offering.
In line with our commitment to inclusion and diversity, we undertake regular audits of the population we serve.
We gathered dates in February 2022, which was included in last year's report. The next survey is scheduled for
February 2025.
Families
We continued to focus on equipping parents to disciple their children rather than relying on traditional Sunday
School-style input from church staff and volunteers. As part of this our Families leader and team offer an in-
house developed programme of teaching that reflects the sermon series being delivered to the adults, Children
and youth also join with the worship in the auditorium.
For those engaging online or using our on-dernand sermon offerlng the resources used on Sunday mornings
were available for download.
Ignite Friday continued to offer a range of activities for children in school years 3 to 6. This group meets
fortnighlly during school terms. Our Share the Light event in October 2023 was an alternative to Halloween, and
attracted 142 people cons1Sting of 40 families.
The youth continued to flourish with weekly meetings on Sundays and Fridays. We sent more than go youth
plus team to the key in-person summer event - newday- always a highlight of the year. This was substantially
more than attended the previous year,
Discipleship and communlty
Small groups continued to run using a termly programme offering a wide range of actlvitles and continued to be
a good way to engage people in spiritual growth and community. Over the year we ran 110 small groups,
compared to about 106 in the previous year. A total of 977 people signed up.
Throughout the year there was a focus on equipping people to sh8re their faith an a one-to-one basis. The
School of Missional Life ran with a revised name and focus on mission, and 40 students graduated in July 2024.
For the first time students from the school were encouraged to go on overseas mission trips to support
churches we know well.
The Sozo team continued to offer in-person appointments alongside an online offering. This guided prayer
ministry, originating in Bethel Church Redding, is a very effective way of allowing the Holy Spirit to lead people
into greater freedom from wounds and opp￿Ssion. The team continues to deliver at least one appointment a
week.
The pastoral team, now with a new team lead, continued to do a good job of supporting those who were still
isolating on both an emotional and a practical level.
Serving tho city
We provide funds and meeting room space to The Ridgeway Community Trust, which continued to support
those in need in the wider community in Milton Ke￿eS through the eMbarK Christian counselling service.
Page 4

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmlted by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Achievements and perfomiance (continued)
Speaking English provides free English language classes to students from many different backgrounds once a
week during school terms with an average attendance of at least 22. In addition to classes, the group also
offered C￿as1Onal social activities: these were well-received.
The Community Café at Unity Park Station now caters for 75+ guests every Tuesday and Wednesday. They are
provided with hot food and drinks, together with access to other important services from haircuts to support with
benefit applications. This operates in partnership with the Unity UK.
The Greenlels communlty club launched in May 2023 has gone from strength to strength. This Christmas
Fayre was a huge SUC￿ss, and local residenls are very supportive of the weekly activitles.
The hardship fund continued to provide emergency financial support to those in need. Over this financial year
30 grants were made totalling £10,500.
A new initiative explored a franchise agreement with Hope in Action, a charity that facilitates house purchases
that enable organisalions to provide accommodation for some of the most vulnerable in society. New Life
received a generous legacy gift to enable a house purchase. which completed just beyond the financial year
relevant to this report. While the house will be owned by New Lrfe, the franchise agreement is with the Ridgeway
Community Trust.
Ridgeway Centre Conferencing provides Milton Keynes with a high-quality conference and meeting venue. The
team successfully delivered an agreed income of £391,549 {2023 £289,008). This covers the cost of staff for
the business, much of the running cost of the Ridgeway Centre, including cleaning and routine maintenance.
plus a profit this year of 106,587 (2023 £65,279).
Serving other churche8
We continued to build friendships and provide support to a number of churches in the Catalyst Network of
Churches {CNC). Sharon Clark provides administrative support up to 12 hours each week and is also part of the
strategy team. (The church receives financial support from CNC for the latter.)
We provlded preachers to several other churches on a regular basis. including churches in Aylesbury and
Towcester.
We continued to have good relationships with five other churches in Wolverton as part of the Churches
Together in Wolverton group.
The charity is a member of the Evangelical Allian￿.
Global mission
We continued our relationship with the charity Mercy in Action, which works with street children in the
Philippines. Frank Clark serves a5 a trustee.
We continued to support Cally Magalhaes who is working in Sao Paulo with young offenders. Her work mainly
consists of running psychodrama courses in prison and providing support lo the young people when they are
released. Frank and Sharon Clark visited Brazil in May and saw the excellent work she does first hand.
We have continued to build a relationship with Trinitas Church in Skopje, North Macedonia. Students from our
School visited in March to support their work. The 50n of the church leaders spent a very positive and fruitful
year with New Life as an intern,
Page 5

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Achievements and performance (continued)
We supported a church in Valencia, Spain which had grown considerably over the past 12 months. Students
from our School visited in April, and some made a second visit later in the year to attend a women's conference
at the church.
Relationships with churches in Albania hava continued to grow. and 8nother team of students visited there in
May. We also have good relationships with church leaders in Greece, Munich (Germany), Izmir (Turkey), India.
Kenya and Myanmar.
Zoom is highly beneficial for developing relationships with church leaders outside of the UK because it put
everyone on a level playing field.
Flnanclal revlew
a. Golng concem
After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the
going concern basis can be found in the accounting policies.
b. Reserves pollcy
For the current financial year, the target level of free reserves equates to three to six months of the annual
expenditure budget, less giving (UK and overseas), depreciation and lif still available) a month mortgage
payment holiday. This protects our staff pay roll from any unexpecled cash flow issues.
. Soclal investments
New Life Church did not have any social investments in this accounting year.
d. Prlnclpal rlsks and uncertalntles
The charity is financially dependent on the voluntary support of the general public making donations together
with income from conferencing and office rentals, and from institutions and charitable trustslfoundations
awarding grants. Total voluntary income receipts for the year, including Gift Aid recovery and miscellaneous
income, amounted to £1,304,322 (2023 £1,091,409). The church's total expenditure was £1.167,180 (2023
£1,013,562). The financial position of the church at 31 August 2024 remains positive. There is a substantial
restricted fund of almost £442,988 ready for the purchase of a further property when something suitable
becomes available.
Building space is currently about 90% meeting room5 and halls and 10Vo offices. Management and
administration costs relate to staff costs, office supplies, photocopying, insurance, professional fees and
cleaning.
The trustees approve an annual budget and give regular attention to financial results, variance from budgets
and non-financial indicators.
Page 6

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
During the year the church had three full-time employees (Senior Leader, two conferencing and events stafQ
and more than 30 part-time employees. The average number of staff during the year was 35 (2023 - 33) and
the total remuneration for the year came to £571,056 (2023 £472,716). The cost of the end of year audit was
£8,250 plus VAT. The total cost of £12,060 includes the preparalion of the financial statements for New Lrfe
Church Milton Keynes, Ridgeway Centre Conferencing Limited and Ridgeway Community Twst.
Structure, governance and managem6nt
a. Constltutlon
New Llfe Church Mllton Keynes is registered as a charitable company limited by guarantee and was set up by a
Memorandum of Association.
b. Methods of appointmont or election of Trugtee8
The managemenl of the Group and the Charity is the responsibility of the Trustees who are elected and co-
opted under the terms of the Memorandum of Association. The Charity was registered as a Company limited by
guarantee on 15 March 2007 with a Memorandum and Articles of Association and as a Charity on 25 February
2007.
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 are listed on page 1.
c. Organlsatlonal Structure and decision-making policies
The Irustees meet at least three times a year. Existing trustees are authorised to appoint new trustees to fill
vacancies arising through resignation. removal or dealh of one of their number. and to appoint additional
trustees.
The Trust Deed authorises the Trustees to make and hold investments using the general funds of the charity.
No such investments are presently held.
A Delegated Safeguarding Officer, together with a team of nomlnated safeguarding personnel and a
safeguarding administrator, ensure all necessary slaff and volunteers are police checked. We are registered
under the Data Protection Act. The charily is Gommitted to delivering good practice in all regulated areas. such
as Health & Safety. Child Protection. etc.
Day-to4ay operation of the charity is carried out by a team of employees and volunteer team leaders.
Page 7

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Structure, governance and management (contlnued)
d. Pay policy for key management personnel
During the year the following trustees were remunerated, including gross salary, car mileage allowance,
expenses, and employers, pension contributions..
Abov8 £50.000
£40,000 - £49,999
Below £30,000
None
Tim Williams
Sharon Clark
David Samuel Eyeington
(Trusteeslsenior staff team)
(Trusteelcommunications Leader- part-time)
{TrusteelSchool of Missional Life Leader - part-time)
The above payments were made under Clause 5.15 (for salaries and pensions) and 5.2.2 (for expenses) of the
Memorandum of Association dated 25 February 2007. Salaries and pay increases for members of the senior
staff team are set by an independent remuneration committee made up of non-remunerated Irustees. This
committee takes into consideration the level of responsibility resting with each person. delivery of key objectives
throughout the year, comparison of salaries with other churches of a similar size, and the funds available for
salaries within the NLC budget.
Stat•ment of Trustee8' r98ponslbllltle3
The Trustees (who are also the directors of the Charity for the purposes 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 flnanclal year. Under company law,
the Trustees must not approve the financial ststements unless they are satisfied that they give a true and fair
view of the state of affairs of the Group and the Charity and of their incoming resources and application of
resources, including their income and expenditure, for that period. In preparing these financial statements, the
Trustees are required to..
select suitable accounting policies and then apply them consislently.,
observe the methods and principles of the Charities SORP (FRS 102),.
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards {FRS 102) have been followed, subject to any
material departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Group and the Charitvs transactions and disclose with reasonable accuracy at any time the financial
position of the Group and the Charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 8

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Dlsclosure of Informatlon to audltors
Each of the persons who are Trustees at the time when this Trustees, Report is approved has confirmed that:
so far as that Trustee is aware. there is no relevant audit information of which the charitable group's
auditors are unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charitable group's auditors are aware of that
information.
Audltors
The auditors. Streets Audit LLP, have indicated their willingness to continue in office. The designated Trustees
will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Mr T Williams
Chairman
Date. o£.c£t.2oL£
Page 9

NEW LIFE CHURCH MILTON KEYNES
{A Company Limited by Guarantee}
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NEW LIFE CHURCH MILTON KEYNES
Opinion
We have audited the financial statements of New Life Church Milton Keynes (the 'parent charitable companrf)
and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Statement
of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement
of Cash Flows and the related notes, including a summary of significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the Group's and of the parent charitable companls affairs as at 31
August 2024 and of the Group's incoming resources and application of resources, including its income
and expenditure for the year then ended.
have been properly prepared In accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirement5 of the Charities Act 2011.
Basls for oplnlon
We conducted our audit in accordance with Inlernational Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the Group in accordance with the
ethical requirements that are relevant to our audit of the financial ststements in the United Kingdom, including
the Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable
companls ability to continue as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this report.
Page 10

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NEW LIFE CHURCH MILTON KEYNES
(CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial
statements and our Auditors, Report thereon. The Trustees are responsible for the other information contained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained in the course
of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this gives rise to a material
misstatement in the financial statements themselves. If, based on the work we have performed. we conclude
that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on whlch we are requlred to report by exceptlon
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if, in our opinion:
the information given in the Trustees, Report is inconsistent in any material respect with the financial
statements,. or
the parent charitable company has not kepl sufficient accounting records,. or
the parent charitable company financial statements are not in agreement with the accounting records and
returns., or
we have not received all the information and explanations we require for our audit.
R08ponsibllltles of tru8t•O8
As explained more fully in the Trustees, Responsibilities Statement, the Trustees (who are also the directors of
the charitable company for the purposes of company law} are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable the preparation of financi81 statements that are free from material
mi5Statement, thether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent
charitable companvs ability to continue as a going concern, disclosing. as applicable, matters related to going
concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the
Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Page11

NEW LIFE CHURCH MILTON KEYNES
(A Company Limitad by Guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NEW LIFE CHURCH MILTON KEYNES
(CONTINUED)
Auditors, responsibllltles for the audit of the financlal statements
We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users laken on the basis of these financial statements.
Irregularities, includlng fraud, are in5tance5 of non-compliance wilh laws and regulations. We design
procedures in line with our responsibilities, outlined above. to detect material mlsstatements in respect of
irregularities, Including fraud. The extent to which our procedures are capable of detectlng irregularities,
including fraud is detailed below..
Our approach to identifying and assessing the risks of material mi5Statement in respect of irregularities,
including fraud and non-compliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulation
we identified the laws and regulations applicable to the company through discussions with trustees and
other management, and from our commercial knowledge and experience of the charity
we focused on specific laws and regulations which we considered May have a direct material effect on the
financial statements or the operations of the company, induding the Companies Act 2006, Charlties Act
2011, data protaction, employment, tsxation, environmental and health and safety legislation
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal correspondence: and
identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the companls financial statements to material misstatement, including
obtaining an understanding of how fraud might occur, by..
making enquiries of management as to where they considered there was susceptibility to fraud and their
kno￿edge of actual, suspected and alleged fraud. and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships,.
tested journal entries to identify unusual transactions-
assessed whether judgements and assumptions made in determining the accounting estimates set out in
Note 1 were indicative of potential bias,. and
investigated the rationale behind significant or unusual transactions.
Page 12

NEW LIFE CHURCH MILTON KEYNES
(A Company Limlted by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NEW LIFE CHURCH MILTON KEYNES
(CONTINUED)
In response to the risk of irregularities and non -compliance with laws and regulations, we designed Pro￿dureS
which included, but were not limited to:
agreeing financial statements and disclosures to underlying supporting documentation.,
reading the minutes of governor meetings of those charged with governance., and
enquiring of management as to actual and potential litigation and claims.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: ww.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, Report.
Uso of our report
This report is made solely to the charltable company's trustees, as a body, In accordance wlth Part 4 of the
Charities (Accounts and Reports) Regulatlons 2008. Our audlt work has been undertaken so that we mlght state
to the charitable com pany's trustees those matters we are required to state to them In an Auditors, Report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for
the opinions we have formed.
Streets Audit LLP
Chartered Accountants
Potton House
Wyboston Lakes
Great North Road
Wyboston
Bedford
MK44 3BZ
Date: I
Ic>4
Streets Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 13

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
fvnds
2023
Note
Income from:
Donations and legacies
Charitable activities
811,712
73,292
391,549
27,769
484,159
1,295,871
73,292
391,549
27,769
810.112
68,871
289,008
9,922
Other trading activities
Investments
Total Income
1,304,322
484,159
1,788,481
1,177,913
Exp•ndltur• on:
Raising funds
Charitable activlties
275,171
892,009
275,171
960,229
223, 776
853,466
68,220
Total expendlture
1,167,180
68,220
1,235,400
1,077.242
Net movement in fund8
137.142
415,939
553,081
100,671
Reconclliatlon of funds:
Total funds brought forward
Net movement in funds
2.490,462
137,142
485,585
415,939
2,976,047
553,081
2,875,376
100,671
Total funds carrled forward
2,627,604
901,524
3,529,128
2,976,047
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 20 to 40 form part of these financial statements.
Page 14

NEW LIFE CHURCH MILTON KEYNES
{A Company Limited by Guarante•)
REGISTERED NUMBER: 06162241
CONSOLIDATED BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Note
Flxed assets
Tangible assets
13
3,036,065
3,097,448
3,036,065
3,097.448
Curr•nt assets
Debtors
Cash at bank and in hand
15
106.277
1,409.665
49.829
891,669
1,515,942
941,498
Creditors: amounts falling due within one
year
16
(232,006)
(207,718)
Net current assets
1.283.936
733, 780
Total assets less current liabiliti
4,320,001
3,831,228
Credilors.- amounts falling due after more
than one year
(790,873)
(855, 181)
Total net assets
3,529,128
2.976,047
Page 15

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
REGISTERED NUMBER: 0616224
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024
2024
2023
Note
Charlty funds
Restricted funds
Unrestricted funds
18
901,524
2,627,604
485,585
2,490.462
18
Total funds
3,529,128
2,976,047
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entlty to obtain an audit for the year in question in accordance with sectlon
476 of the Companies Act 2006.
However, an audit is required In accordance with section 151 of the Charities Act 2011 .
The Trustees acknowledge thelr responsibillties for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Mr T Wllllams
Chairman
Date: o£.04. 2ol5
The notes on pages 20 to 40 form part of these financial statements.
Page 16

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmlted by Guarantee)
REGISTERED NUMBER: 06162241
CHARITY BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Note
Flxed assets
Tangible assets
Investments
13
3,036,065
3,097,448
14
3.036,066
3,097,449
Current assets
Debtors
Cash at bank and in hand
15
105,322
1,338,430
40,440
839,832
1,443,752
880,272
Creditors: amounts falllng due wlthln one
year
16
{164,423)
(152.307)
Net current a888t8
1,279,329
727,965
Total assets less current liabilities
4,315,395
3.825.414
Creditors: amounts falling due after more
than one year
17
(790,873)
(855, 181)
Total net a88et8
3,524,522
2,970,233
Page17

NEW LIFE CHURCH MILTON KEYNES
(A Company Limit•d by Guarantee)
REGISTERED NUMBER: 06162241
CHARITY BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024
2024
2023
Note
Charfty funds
Restricted funds
Unrestricted funds
18
18
902,024
2,622,498
485, 585
2,484,648
Total funds
3,524,522
2,970.233
The Charitls net movement in funds for the year was £554,289 (2023- £100,786).
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2008.
The members have not requlred the entity to obtain an audit for the year in questlon In accordance with section
476 of the Companies Act 2008.
However, an audit Is requlred In accordance with section 151 of the Charltles Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorlsed for issue by the Trustees and signed on their behalf by:
Mr T Wllliams
Chairman
Date: os. 04. loZS
The notes on pages 20 to 40 form part of these financial statements.
Page18

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Cash flows from oparating activities
Net cash used in operating activities
575,081
236,483
Cash flows from Investlng actlvltles
Dividends. interests and rents from Investments
Purchase of tangible fixed assets
27,769
9,922
(16,991) (123,010)
Net cash provlded byl{u8•d in) investing actlvltles
10.778
(113,088)
Cash flows from flnanclng activities
Repayments of borrowing
(67,863)
(77,549)
Net cash used in financing activitSe8
(67,863)
(77.549)
Chang• in cash and cash equlvalents in the yaar
Cash and cash equivalents at the beginning of the year
517,996
45,846
891,669
845,823
Cash and cash equivalent8 at the end of the year
1.409,665
891,669
The notes on pages 20 to 40 form part of these financial statements
Page 19

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarant••)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
General information
New Life Church Milton Keynes is private company limited by guarantee incorporated in England and
Wales. The principal place of business and registered office is The Ridgeway Centre, Featherstone
Road, Wolverton Mill. Milton Keynes MK12 5TH.
Accountlng pollcle8
2.1 Basls of preparatlon of flnanclal statements
The financial statements 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 accounts in accordance with the Financial Reporting Standard applicable In the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019). the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
New Life Church Milton Keynes meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in
the relevant accounting policy.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet
consolidate the financial statements of the Charity and its subsidiary undertakings. The results of the
subsidiaries are consolidaled on a line by line basis.
The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act
2006 and has not presented its own Statement of Financial Activities in these financial statements.
2.2 Income
All income is recognised once the Charity has entitlement to the income. it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
2.3 Expendltura
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
5etUement and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Group's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Government grants
Government grants relating to revenue expenditure are credited to the Consolidated Statement of
Financial Activities as the related expenditure is incurred.
Page 20

NEW LIFE CHURCH MILTON KEYNES
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies (continued)
2.5 Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Group., this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
2.6 Tangibla flx•d assets and d•preciation
Tangible flxed assets are initially recognised at cost. After recognition, under the cost model,
tangible fixed assets are measured at cost less accumulated depreciation and any accumulaled
Impairment losses. All costs incurred to bring a tangible fixed asset into Its intended working
conditlon should be included in the measurement of cost.
Depreclation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated usefu5 lives.
Depreciation is provided on the following ba5es'.
Freehold property
Main building 20/0 Straight line
Specific works - 10.10 Straight line
Land is not depreciated
Solar panels 4 % straight line
Heating and boiler system 3¥0 Straight line
Acoustic equipment, drapes, carpet, chairs and
kitchen equipment - 50/0 to 100/0 Straight line
33°/o slraight line
Fixtures and fittings
Computer equipment
2.7 Investments
The charity's investment in its subsidiary undertaklng is included at Gost,
2.8 Debtors
Trade and other debtors are recognised at the amount recoverable. Prepayments are valued at the
cost relating to future accounting periods.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
2.10 Liabilitios and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estimated reliably.
Page 21

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies (continued)
2.11 Financial instruments
The Group only has financial assets and financial li8bilities of a kind that qualify as basic financial
nstruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.12 Pensions
The Group contributes to a defined contribution pension scheme and the pension charge represents
the amounts payable by the Group to the fund in respect of the year.
2.13 Fund accountlng
General funds are unrestricted funds which are available for use at the discretion of the Trustees In
furtherance of the general objectives of the Group and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for
particular purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Group for particular purposes. The purposes and uses of
each restricted fund are set out in the notes to the financial statements.
Incomè from donations and legacies
Unrestrlcted Restrlcted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Donations
Contributions from members
809,675
484,159
1,293,834
808,339
809,675
484,159
1,293,834
808.339
Similar incoming resources
2.037
2,037
q, 773
811,712
484,159
1,295,871
810,112
Total 2023
723,808
86,504
810,112
Page 22

NEW LIFE CHURCH MILTON KEYNES
{A Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Income from charitable actlvltles
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Income relating to recharges
Other Income from various sources
23,733
49,559
23,733
49,559
29,160
39,711
73,292
73,292
68,871
Income from other tradlng actlvities
Income from non charltable trading activities
Unrestricted
funds
2024
Total
fund8
2024
Total
fvnds
2023
RCCL conference income
Other income
388,969
2.580
388,969
2,580
289,008
391,549
391,549
289,008
Investment Income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
RCT interest received
Interest receNed
Interest receivable
11
11
27,652
106
27,652
106
9,864
47
27,769
27,769
9,922
Page 23

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Expenditure on ralslng funds
Other trading expenses
Unr•strict•d
funds
2024
Total
fund8
2024
Total
funds
2023
RCCL Dlrect costs
RCCL labour costs
Cost of sales
Administration expenses
113,150
144,493
4,957
12,571
113,150
144,493
4,957
12,571
90,480
128,380
4,916
275,171
275,171
223, 776
Analysis of axpandituro on charitable actlvitles
Summary by fund type
Unrestrlcted Restrlcted
funds
funds
2024
2024
Total
2024
Total
2023
All age ministry
892,009
68,220
960,229
853,466
Total 2023
789, 786
63,680
853,466
Page 24

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Analysis of expènditura by activities
Activities
undertaken
directly
2024
Support
Costs
2024
Total
funds
2024
Tot81
fvnds
2023
All age ministry
958,014
2,215
960,229
853,466
Total 2023
851,406
2.060
853,466
Analys18 of dlrect C08t8
All age
ministry
2024
Total
funds
2024
Total
fvnds
2023
Staff costs
Depreciation
Ministry and event expenditure
Rent. rates and insurance
Cleaning, repairs and maintenance
Heat and light
IT costs
General offlce costs
Professional fees
Expenditure on restricted funds
Donations
Bank charges and interest
Governance costs
440,023
78,375
81,932
11,815
27,566
30,795
27.111
29,553
440,023
78,375
81,932
11,815
27,566
30.795
27,111
29,553
355.511
76,212
69,868
10,703
55,541
26. 702
18,689
21,023
13
63,680
89,356
55,546
8.562
68,220
82.641
69,543
10.440
68,220
82,641
69,543
10,440
958,014
958,014
851,406
Page 25

NEW LIFE CHURCH MILTON KEYNES
(A Company Limfted by Guaranta•)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10.
Auditors. remuneratlon
2024
2023
Fees payable to the Charitsls auditor for the audit of the Charitys annual
accounts
9,900
9,540
11. Staff costs
Group
2024
Group
2023
Charlty
2024
Charity
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes
528,849
41,699
457.537
17,155
515,533
41,699
446,454
17,155
13,968
9.199
13,824
9, 107
584,516
483,891
571,056
472.716
The average number of persons employed by the Charity during the year was as follows..
Group
2024
No.
Group
2023
No.
Charity
2024
Charity
2023
No.
Strategy
Missions
Discipleshlp
Operations
Communicatlons
Conferencing
13
16
13
16
35
33
35
33
No employee received remuneration amounting to more than £60,000 in either year.
The key management personnel of the charity comprise the trustees, some of whom undertake paid roles
as part of the senior management team. The total amount of employee benefits {in¢luding employer
national insurance and pension contributions) received by key management personnel for their services
to the charity was £111.810 (2023 £107.949).
Page 26

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
12.
Trustèes. remuneration and expenses
During the year, one or more Trustees has been paid remuneration or has received other benefits from
an employment with the Charity. The payments are made under Clause 5.15 of the Memorandum of
Association and are paid in connection with their employment of the charity and not in respect of their role
as trustees.
The value of Trustees, ￿mUneratIon and other benefits was as follows..
2024
2023
Mrs S J Clark
Remuneration
Pension contributions paid
Remuneration
Pension contributions paid
Remuneration
29,896
708
29,600
701
20, 196
1,836
43,000
3,440
Mr D S Eyeington
20,398
1,854
45,795
3,664
Mr T Williams
Pension contributions paid
During the year ended 31 August 2024, expenses totalling £3,404 were reimbursed or paid directly to 6
Trustees (2023 - £7,327 paid to 5 Trustees).
Page 27

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
13. Tangible fixed assets
Group and Charlty
Freehold Fixtures and
property
fittings
Computer
equipment
Total
Cost or valuation
At 1 September 2023
Addition5
3,285,826
596,872
16,991
7,228
3,889,926
16,991
At 31 August 2024
3,285,826
613,863
7,228
3,906,917
Depreclatlon
At 1 September 2023
Charge for the year
479,249
39,380
306,006
38,989
7,223
792,478
78.374
At 31 August 2024
518.629
344,995
7,228
870,852
Net book value
At 31 August 2024
2,767,197
268,868
3.036,065
At 31 August 2023
2,806,577
290,866
3,097,448
Page 28

Il l .fil l!j,'
Ill
u)0
ttuc

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
15. Debtors
Group
2024
Group
2023
Charity
2024
Charity
2023
Du• within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
42.904
15,496
15,374
48,383
26,000
30.939
26,000
37,373
3,031
31,302
25,066
106,277
49,829
105,322
40,440
16. Credltors: Amounts falling due wlthln one year
Group
2024
Group
2023
Charlty
2024
Charity
2023
Bank loans (see note 17)
Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Pension liabilities
Other creditors
Accruals and deferred income
89,336
20,509
92,891
15,459
89,336
11,276
9,961
9,817
9,595
7,557
26,881
92,891
10,126
5.324
6,800
8,888
3,262
25,018
9,817
9,595
8,080
94,669
6,977
8,886
3,806
79,699
232,006
207,718
164,423
152.307
Deferred income includes amounts recelved for Conferen￿ centre bookings due to tske place after the
reporting date amounting to £664 (2023 £953).
Page 31

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
17. Credltors: Amounts falling dua aftèr more than one year
Group
2024
Group
2023
Charity
2024
Charity
2023
Bank loans (see below)
790,873
855,181
790,873
855,181
The bank loans are secured by fixed charges over the land on the south side of Featherstone Road,
Wolverton Mill.
The bank loans are made up of three individual loans, with the following amounts outstanding at the
reporting date,,
£607.478 (2023 - £654.390) is repayable in 112 instalments from the reporting date and interest is to
be charged at a rate equivalent to 0.90￿ over base rate.
£218,395 {2023 £228.338) is repayable in 152 instalments from the reporting date and interest is to
be charged at a rate equivalent to 2.50￿ over base rate.
£54,335 (2023 £65,344) is repayable in 49 instalments from the reporting date and interest is to be
charged at a rate equivalent to 2.4 % over base rate.
Page 32

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
18. Statement of funds
Statement of funds - current year
Balance at 1
September
2023
Balance at
31 August
2024
Transfèrs
inlout
Income Expendlture
Unrestrlcted funds
Deslgnated funds
Ridgeway Community Trust
5,814
7,261
{18,685)
10,216
4,606
General fund8
General Funds
Fixed asset reserve
Ridgeway Centre
Conferencing Limited
(612,800)
3,097,448
905,512
(785,159)
(78,374)
79,380
16,991
{413,067)
3.036.065
391,549
(284,962)
(106,587)
2,484,648
1,297.061
(1,148,495)
(10,216)
2,622,998
Total Unrestrlcted funds
2,490,462
1.304,322
(1,167,180)
2,627.604
Restrlcted fund8
Hardshlp fund
Phase 3 Building Acquisition
Youth groups
Donations for other charitles
MK Hub
15,631
442,988
688
9.098
4,450
5,960
11,358
22,928
394
14,766
8,350
406,262
593
(10,503)
14,226
447,438
1,287
(5,361)
{11,358)
(28,416)
(394)
(10,375)
15,598
125
10,110
125
DRC
Crowhursts
MUGA
Hope into Action
Encounler Camp
10,555
14,946
8.350
405.042
(1,220)
(593)
485.585
484,1 $9
(68,220)
901,524
Total of funds
2,976,047
1,788,481
(1,235,400)
3,529,128
Page 33

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENOED 31 AUGUST 2024
18. Statement of funds (continued)
Statament of funds - prlor year
8alance at
I September
2022
Balance at
31 August
2023
Transfers
in/oul
InGome Expenditur8
Unrostrlcted funds
Deslgnated funds
Ridgeway Community Trust
5,929
16.265
(16.435)
5, 759
Goneral funds
General Funds
Fixed asset reserve
Ridgeway Centre
Conferencing Limited
(643,965)
3.050.651
786, 136
(825.565)
(76,213)
70,649
123,010
(812, 745)
3.097.448
289,008
(95,349)
(193,659)
2,406,686
1,075, 144
(997,127)
2,484, 703
Total Unr•strict•d fund8
2,412,615
1,091,409 (q.013,562)
2,490,462
Restrlcted fund8
Hardship fund
Phase 3 Building Acquisition
Youth groups
Towcester hardship fund
Donations for other charities
MK Hub
DRC
11,498
432.840
1,458
10,717
10, 148
4,414
436
4.825
25,368
1,000
(6.584)
15,631
442,988
688
(5, 184)
(436)
(4,825)
(22. 720)
(937)
(543)
(15,650)
(984)
(5,817)
12.950
62
543
15,598
125
Samaritans Purse
Crowhursts
Community Club
Myanmar Appeal
3.410
22, 795
984
5,817
10.555
462.761
86,504
(63, 680)
485,585
Page 34

NEW LIFE CHURCH MILTON KEYNES
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
18. Statement of funds (continued}
Total of funds
2,875,376
1,177,913 (1,077,242)
2,976,047
Page 35

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
18. Statement of funds {continued}
Designated Funds.,
Rid
ewa
Communit Trust - the activities of the subsidiary charity have been consolidated into these
accounts and the net income from the recharge of salaries and other costs, less donations made from
New Life Church Milton Keynes is represented as a transfer between funds.
Unrestricted Funds:
General fund - may be used for any charitable purpose. The negative reserve in the general fund
reflects the trustees, decision to purchase the freehold property used by the charity with the support of
bank loans. The general fund balance is restored lo a positive, free reserve as the bank loans are
repaid from the charity's annual operating surplus.
Fixed asset reserve - the fund represents the net book value of the charity's tangible fixed assets.
Depreciation is charged to the fixed asset reserve and additions are shown by way of a transfer between
funds.
Rid
ewa
Centre Conferencin
Limited
the activities of the subsidiary company have been
consolidated into these accounts and the net income received from the recharge of salaries and other
costs. and from the annual donation paid by Ridgeway Centre Conferencing Limited to New Lrfe Church
Milton Keynes is represented as a transfer into the charitls general fund5.
Restrlcted Funds..
All restricted funds relate to projects being run by the ch8rity for the following purposes..
Towcester Plant - to accumulate funds for the proposed new site in Towcester
Catal st S here- to accumulate funds on behalf of the Catalyst Network of Churches
Hardshi
fund - to accumulate funds to assist those individuals in society who are in need
Phase 3 Buildin
Ac
uisition - to accumulate funds for the purchase of a new building, to be used for
both church and community activitles. The fund includes one-off and ongoing, regular giving as well as
monies received from gift days held by the Church.
Youth Grou
s- to accumulate funds to provide support for those in need for Newday.
Towcester Hardshi
are in financial need.
Fund - to accumulate funds to assist those individuals in the Towcester area who
Donations for other charities - to accumulate funds on behalf of other charities, for example in response
to emergency appeals.
MK Hub - to accumulate funds to fund the hub of churches working with Richard Wightman
DRC - to accumulate funds to send to a connected church in the Democratic Republic of Congo.
Samaritans Purse- to accumulate funds to provide help to individuals through local churches and also to
proclaiffl and demonstrate the love of God amongst communities in need.
Crowhursts - To accumulate funds to SUPPOrt their mission work in Athens. Greece.
MUGA - Funds donated towards the installation of a Multi-use Games Area (MUGA) on The Ridgeway
Centre grounds.
Page 36

NEW LIFE CHURCH MILTON KEYNES
(A Company Limitad by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
18. Statement of funds (continued)
Ho
e into Actlon- Funds donated towards the purchase of a house for the homeless.
Encounter Cam
Worcestershire.
Funds raised towards the cost of enabling the homeless to attend Encounter Camp,
19. Summary of funds
Summary of funds - current year
Balance at 1
September
2023
Balance at
31 August
2024
Transfers
Inlout
Incomo Ex￿ndIture
Designated funds
General funds
Restricted funds
5,814
2,484.648
485,585
7,261
1,297.061
484.159
(18,685)
(1,148,495)
{68,220)
10,216
110,216)
4,606
2,622,998
901,524
2,976,047
1,788,481
(1,235,400)
3,529,128
Summary of funds - prior year
Balance at
I September
2022
Balance at
31 August
2023
Transfers
in/out
Income Expenditure
Designated funds
General funds
Restricted funds
5,929
2,406,686
462,761
16.265
1,075, 144
86,504
(16,435)
{99T, 127)
(63,680)
5, 759
2,484, 703
485.585
2,875,376
1,177,913
(1,077,242)
2,976,047
Page 37

NEW LIFE CHURCH MILTON KEYNES
(A Company Limit￿ by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
20. Analysis of net assets between funds
Analysls of net assets between funds - current perlod
Unr•strictad Restricted
funds
funds
2024
2024
Total
fund8
2024
Tangible fixed assets
Current assets
Creditors due withln one year
Creditors due in more than one year
3,036,065
614,418
(232,006)
{790,873)
3,036,065
1,515,942
(232.006)
(790,873)
901,524
Total
2,627,604
901,524
3,529,128
Analysis of net assets between funds - prior period
Unrestrict8d
funds
2023
R8strict8d
funds
2023
Tot81
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due In more than one year
3.097,448
455,913
(207.718)
(855, 181)
3.097,448
941,498
(207. 718)
(855, 181)
485,585
Total
2,490,462
485,585
2,976,047
Page 38

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
21. Reconcillation of net mov•m•nt in funds to net cash flow from operating activities
Group
2024
Group
2023
Net income for the period (as per Statement of Flnanclal Activities)
553.081
100.671
Adjustment8 for:
Depreciation charges
Dividends, interests and rents from Investments
Decreasel{increase) in debtors
Increase in creditors
78,374
{27,769)
{56,448)
27,843
76,213
(9,922)
20.128
49,393
Net cash provided by operating activitles
575.081
236,483
22. Analysls of cash and Gash equlvalents
Group
2024
Group
2023
Cash in hand
1,409,665
891.669
Total cash and cash équivalents
1,409,665
891,669
23. Analysls of changes In nat debt
At1
September
At31
2023 Cash flows August 2024
Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
891,669
{101,777)
{855.181)
517,996
1,409.665
(98,931)
(790,873)
64,308
(65,289)
585,150
519,861
Page 39

NEW LIFE CHURCH MILTON KEYNES
(A Company Limited by Guarant•o)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
24. Members. liabillty
Each mernber of the charitable company undertakes to contribute to the assets of the company in the
event of it being wound up while helshe is a member. or within one year after helshe ceases to be a
member, such amount as may be required, not exceeding £100 for the debts and liabilities contracted
before helshe ceases to be a member.
25. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any
outstanding balances owing between related parties and the Charity at 31 August 2024.
Page 40