New Life Church, Biggleswade
TRUSTEE’S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
Charity Registration No. 1121027
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| CONTENTS | Page |
|---|---|
| Trustees Report | 3 |
| Independent Examiners Report | 4 |
| Statement of Financial Activities | 5 |
| Balance sheet | 5 |
| Notes to the accounts | 7 - 10 |
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FindnewLife Church, Biggleswade Trustees Report and Financial Statements March 2024
New Life Church, Biggleswade
Trustees’ annual report for the period:
From: April 1st. 2023 To: March 31st. 2024 Charity name: New Life Church, Biggleswade Charity registration number: 1121027
Objectives and activities
The charitable purpose of New Life Church according to our foundational document is, “The advancement of the Christian faith and the relief of need for the public benefit. New Life Church is seeking to build a community where everyone is welcomed and accepted. It’s a sanctuary where people grow in faith together, love one another, develop one another, and teach and demonstrate to people who Jesus is.”
Trustees Statement regarding Closing the Trust
Following the changes made in last year's Trustees Report, it soon became evident that the new form of Church was not achieving the results anticipated. The “House Church Approach” and association with the “Discipleship Making Movement” resulted in a loss of active members and a resulting continued drop of income to the extent that membership had dropped to a few families only with the majority not living in Biggleswade.
During the last year, costs exceeded income on a monthly basis and the salaried employees voluntarily offered to take a salary reduction after a review of the decline in income. The Trustees decided to consult Employment consultants with regard to closing the Trust when the income levels dropped lower than a certain amount and to prepare for making the employees redundent.
The trustees consulted with the Catalyst Network of Churches with whom the Church had been in good relationship in the previous year and they introduced us to professional employment and HR advice through consultants.
In February 2024 the trustees commenced formal employment discussions with the two employees which resulted in the Trust giving notice and agreeing an enhanced statutory redundancy package with them.
This was finalised by the end of our financial year and is reported in our income and expenditure statements for the year ended March 2024.
We are now going through a process of making arrangements for the disposal of assets (fully depreciated office equipment and other non-capitalised effects of the church) to other Churches and ensuring that all known liabilities have been discharged.
The intention is to donate the remaining cash to Churches, Charities and previous mission partners in accordance with our local, regional and International charitable objectives.
This will be considered carefully and will be concluded over the next few months.
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FindnewLife Church, Biggleswade Trustees Report and Financial Statements March 2024
Structure, governance, and management
The charity is a Charitable Trust with 4 trustees. Trustees are selected from those who have the requisite governance skills and interpersonal skills to effect change, development, and progress.
Reference and administrative details
Name: New Life Church, Biggleswade Also known as: find new life Registered Charity: 1121027 Charity Address: 4 Cleveland Way; Great Ashby, Hertfordshire SG1 6BZ Church Leaders: Mr Alf Ringwood and a leadership team of Elders. Administrator: Mrs Amanda Ringwood
Trustees:
| Trustee name | Office: | Dates if not whole year: |
Appointed by: |
|---|---|---|---|
| Banji Ajibowu | Trustee | Elders | |
| Margaret Osibowale | Treasurer | Elders | |
| Brian Gibbins | Trustee | Resigned 08/06/2023 | Elders |
| Derek Brister | Trustee | Elders | |
| Ian Lovell | Trustee | Elders |
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees:
Margaret Osibowale and Ian Lovell
Dated : 30/09/2024
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FindnewLife Church, Biggleswade Trustees Report and Financial Statements March 2024
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF NEW LIFE CHURCH
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024 which are set out on pages 5 - 10
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’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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 confirm that no material matters have come to my attention in connection with my examination which gives me cause to believe that in, any material respect:
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1) the accounting records were not kept in respect of the charity as required by section 130 of the Act;
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2) accounts do not accord with those records, or
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3) the accounts do not comply with the applicable requirements concerning the form and content of account as 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.
Signed:
Dated: 9th. May 2024
Mervyn Thomas 128 Putnoe Lane Bedford MK41 8LS
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FindnewLife Church, Biggleswade Trustees Report and Financial Statements March 2024
| Statement of financial activities for | the period 01/04/2022 to 31/03/2023 | the period 01/04/2022 to 31/03/2023 | the period 01/04/2022 to 31/03/2023 | |
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| Categories of activity | Funds | Funds | 2024 | 2023 |
| £ | £ | £ | £ | |
| Incoming resources Note 3 | ||||
| Voluntary income | 27,148 | 153 | 27,301 | 48,984 |
| Total incoming resources | 27,148 | 153 | 27,301 | 48,984 |
| Outgoing resources Note 4 | ||||
| Costs of Generating Funds | - | - | - | 423 |
| Charitable activities | 65,932 | 153 | 66,085 | 69,685 |
| Total resources expended | 65,932 | 153 | 66,085 | 70,108 |
| Net incoming/(outgoing) resources before transfers |
(38,784) | - | (38,784) | (21,124) |
| Gross transfers between funds Note 7 | 52,000 | (52,000) | - | - |
| Net movement in funds | 13,216 | (52,000) | (38,784) | (21,124) |
| Total funds brought forward | 14,887 | 52,000 | 66,887 | 87,067 |
| Total funds carried forward | 28,103 | - | 28,103 | 66,887 |
| Balance sheet for the year ended 31/03/2023 | Balance sheet for the year ended 31/03/2023 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Fixed assets | ||||
| Tangible assets Note 5 | - | - | - | 581 |
| Current assets | ||||
| Cash at bank and in hand | 27,504 | 27,504 | 66,306 | |
| Total current assets | 27,504 | - | 27,504 | 66,887 |
| Creditors:amounts falling due within one year | ||||
| Note 6 | 150 | 150 | - | |
| Net current assets/(liabilities) | 27,354 | - | 27,354 | 66,887 |
| Net assets | 27,354 | 27,354 | 66,887 | |
| Funds of the Charity | ||||
| Unrestricted funds | 28,103 | 28,103 | 14,887 | |
| Restricted income funds Note7 | - | - | 52,000 | |
| Total funds | 28,103 | - | 28,103 | 66,887 |
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FindnewLife Church, Biggleswade Trustees Report and Financial Statements March 2024
Signed by Margaret Osibowale on behalf of the trustees:
Margaret Osibowale
Dated: 30/09/2024
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FindnewLife Church, Biggleswade Trustees Report and Financial Statements March 2024
Notes to the accounts
1 BASIS OF PREPARATION
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognized at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
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the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable
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and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
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and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
1.2 Going concern
The Charity is a going concern. Income generation through members’ donations is maintaining adequate reserves.
1.3 Change of accounting policy
The accounts present a true and fair view and the accounting policies adopted are those outlined in note 2.
1.4 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
2 ACCOUNTING POLICIES
2.1 Income
Recognition of income
These are included in the Statement of Financial Activities (SoFA) when:
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the charity becomes entitled to the resources;
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it is more likely than not that the Trustees will receive the resources; and
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the monetary value can be measured with sufficient reliability.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses unless required or permitted by the FRS 102 SORP or FRS 102.
Grants and donations
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).
There are no performance-related grants.
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FindnewLife Church, Biggleswade Trustees Report and Financial Statements March 2024
| Note 3 INCOME Donations Gift Aid |
Unrestricted Restricted Total Total Funds £ Funds £ 2024 2023 £ 25,455 153 25,608 39,642 1,693 - 1,693 9,342 |
|---|---|
| Interest | 117 |
| TOTAL INCOME | 27,148 153 27,301 48,984 |
| Note 4 EXPENDITURE Publicity |
Unrestricted Restricted Total Total Funds £ Funds £ 2023 2022 £ - - - 423 |
| Total expenditure on generating funds |
- - - 423 |
| Salaries Employers National Insurance Pensions Expenses,Training Redundancy Rents Depreciation Administration and office Children and Youth Catering and Events Social Action International Donations Catalyst Network Contribution Governance |
27,136 27,136 39,766 1,646 1,646 3,310 2,074 2,074 1,651 - 697 23,490 23,490 5,055 5,055 9,941 581 581 646 2,232 2,232 4,158 199 199 250 558 558 2,335 150 150 944 2,661 153 2,814 3,412 - 2,400 150 150 175 65,932 153 66,085 69,685 |
| Total expenditure on charitable activities |
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FindnewLife Church, Biggleswade Trustees Report and Financial Statements March 2024
Note 5 Creditors and accruals
| Amounts falling due within one year | Amounts falling due within one year |
|---|---|
| Analysis of creditors 2024 2023 |
|
| £ £ |
|
| Accruals and deferred income 150 175 |
|
| Total 150 175 |
|
| Note 6 Tangible fixed assets (Electronic Equipment) Cost or valuation 2024 2023 £ £ At the beginning of the year 3,229 2,198 Additions - 1,031 |
|
| At end of the year | 3,229 3,229 |
| Depreciation and impairments Depreciation rate straight line at 20% 20% At beginning of the year 2,648 2,002 Depreciation 581 646 At end of the year 3,229 2,648 Net book value Net book value at the beginning of the year 581 196 Net book value at the end of the year - 581 |
Note 7 FUNDS ANALYSIS
7.1 Movements of all funds summarised in the Statement of Financial Activities for the current year.
| Fund Name | Fund balances brought forward Incoming resources Outgoing resources Transfer s Fund balances carried forward £ £ £ £ £ 14,887 27,148 (65,932) 52,000 28,103 - 153 (153) - 52,000 (52,000) - |
|---|---|
| Unrestricted General Church | |
| Restricted To the Nations Fund | |
| Designated Building Fund | |
| Total Funds | 66,887 27,301 (66,085) - 28,103 |
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FindnewLife Church, Biggleswade Trustees Report and Financial Statements March 2024