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2023-03-31-accounts

NEW LIFE DERBY

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS FOR

31 MARCH 2023

Company Registration Number 06032785 Charity Number 1121508

DERBY COMMUNITY ACCOUNTANCY SERVICE

Babington Lodge 128 Green Lane Derby DE1 1RY

NEW LIFE DERBY

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

Contents Page
Members of the board and professional advisers 1
Trustees’ annual report 2-5
Independent Examiner’s Report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9-15

NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

REFERENCE AND ADMINISTRATIVE DETAILS

The board of trustees

Otoyo Henry Ita Senior Pastor Dr Rachael E Ita Lecturer In Law Mr Blessen Matthew Executive Pastor David Ford Executive Creative Director Rebekah Ford Business owner Roger Robb Parenting Practitioner Kerrie Robb Transitional Care Support Worker Arjun Dondapati Engineer

Registered office

New Life Christian Centre Normanton Road Derby DE23 6UU

Independent Examiner

Mark Newey ACMA Derby Community Accountancy Service Babington Lodge 128 Green Lane Derby DE1 1RYT

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

The trustees, who are also Directors for the purposes of the Companies Act, have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2023.

MISSION, OBJECTIVES AND ACTIVITIES

Mission Statement:

We exist to express the power of God’s love to individuals, families, communities, and nations.

Objectives and aims:

Our objective and aim are to engage with every generation and all cultures and disciple them in the way of our Lord Jesus Christ.

Vision:

To go and make disciples of all nations.

SUMMARY OF THE MAIN ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT IN RELATION TO THESE OBJECTS

In our strategic planning, we have sought guidance from the charity Commission's document 'Churches and Public Benefit' and have considered its advice in our objectives and activities.

.

ACHIEVEMENTS AND PERFORMANCE

Our Primary aim is to serve our immediate community which is the inner city of Derby. This is a vast and multi-culturally diverse community with about 126 language groups.

As a charity we try to engage and connect with all people groups, and this reflects in our services on a Sunday where we have gathered every Sunday on average 450 adults and children from around 52 different nationalities.

This year we went hybrid in our approach to providing services as a church. We conduct our meetings both in person and online. It has helped the congregation to engage, especially those who are isolated because of the pandemic. Our Sunday services have kept growing since we restarted in July 2021 both morning and evening. We had to move into 3 Sunday service in July 2022 and these services have grown as well.

Due to the pandemic however, many of our weekly services have, of necessity, been restricted to online events (YouTube and Facebook). As a percentage of the congregation are elderly, some of our regular attendees have not been able to engage online and have been provided other options of fellowship. We have also had a significant uptake from those not previously connected with New Life joining in online.

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

Throughout the week we have groups meeting on Zoom that seek to meet the social, emotional, and spiritual needs of everyone. We have a dedicated team who help with various community family matters, including marriage preparation classes, marriage guidance and parental advice. We have prayers on Zoom every day, it helps people to be connected relationally but also in their spiritual life.

We have about 200 volunteers who make all the activities happen in the life of the Charity, and we are very grateful to them for giving up their time and skill to reach our community and invest in people’s lives.

The church has been very generous and we have seen an increase in our giving over the last year comparing it to this time last year.

A lot of our outreach ministries have been restarted following the pandemic and we have seen a growth in numbers through these outreach ministries. One of these outreach ministries was the Warm Space that was started in January of 2023. This has been very successful in seeing individuals in our community able to come in and have a hot meal each Wednesday from 12pm – 2pm.

As the Trustees considered the future direction of the Church’s mandate, a decision was gradually formulated such that the church would be hosted in several Local Home churches that would meet on two Sundays of the month. The other Sundays within the month, would see services hosted centrally as previously. This “hybrid” church model would encourage the Local Home churches to be more missional within their local communities.

We launched our Home Churches in August 2021 with 17 Home Churches and gradually the number of home churches increased to 26. By the end of March 2023 we have seen over 75% of our in-person service attendance in Home Churches. We are focussing on training up new leaders and enabling them to start their own gathering. We see the benefit in meeting as a large congregation and meeting as small groups. This has increased the quality of relationship and accountability among the members.

A property bequeathed some years ago at 223 Greenwich Drive South had lain near derelict for some time. We have refurbished the property and are renting it out now. It brings an income to support the work we do in the Normanton area.

We have continued to lease our church building in Belper to Arena Church Ilkeston, to run outreach work in the local area. The building itself continues to be retained by New Life Church Derby.

We have a lease of a property which we call our “Family Centre”. This is in a different community of Normanton and from which we had seen much community work invested by some members of staff and volunteers. This work has been on hold through the lockdown period, although we still hold the tenancy to this property. We have started using the building once again now the lockdowns are lifted, with all the appropriate measures of safety.

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

New Life Church Derby has an excellent team of trustees and staff who work well together to make the church a vibrant expression of the Christian faith in the local community and beyond. throughout the year. The following are the names of the Trustee team:

Staffing:

Whilst we currently enjoy a full and comprehensive staff team that lead and manage many of our church activities during the week, we also rely on a whole host of willing and able volunteers that make up the many teams that are in operation during the week.

The makeup of our core staff team is as follows:

Senior Leader – Otoyo Henry Ita
Senior Leader - Rachael Ita
Associate Pastor – Andrew Robinson
Executive Pastor – Blessen Mathew
Youth Worker – Daniel Stevens
Finance Manager – Mary James
Administrator – Carol Standish-leigh (Maternity Cover)
Children’s Worker – Megan Lomax
Ministry Assistant – Tim Di Betta
Media Specialist – Benjy Bell
Media Specialist – Promise Shibu

FINANCIAL REVIEW

Reserves policy:

The trustees aim to maintain a level of reserves which they consider to be sufficient to cover Support and governance costs. The reserves are needed to bridge the funding gaps between unrestricted spending and receiving resources and allow for possible emergency costs. Short term reserves will be needed to sustain operations for periods where lack of incoming resources causes cashflow problems.

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

Principal funding sources:

Most of the income was generated from gifts received, and associated gift aid.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document:

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Induction and training of trustees

The Charity undertakes, when the need arises, a skills audit to determine the requirements of the trustee body. If a skill shortage is identified, approaches are made to specific people identified as having these skills

Risk management policy

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Independent Examiner

Derby Community Accountancy Service and will be in office as independent examiner for the ensuing year.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Registered office: Signed on behalf of the trustees New Life Christian Centre Normanton Road Derby DE23 6UU

H. Ita Trustee

Approved by the trustees on

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

YEAR ENDED 31 MARCH 2023

I report on the accounts of the company for the year ended 31 March 2023 which are set out on pages 7 to 15.

Respective responsibilities of the trustees and examiner

As the charity trustees of the Trust, 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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed 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 other than disclosed below in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Concerns encountered during the course of the independent examination were: Records and evidence were incomplete with respect to income and expenditure.

Mark Newey ACMA Date Derby Community Accountancy Service Babington Lodge 128 Green Lane Derby DE1 1RY

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2023

Note
Income from:
Donations
3
Grants
4
Other income
5
Investment income
6
Total incoming resources
Expenditure on:
Raising funds
Charitable activities
Total expenditure
7
Net (expenditure) income
Transfer between funds
Net movement in funds
Fund balances at 1 April
2022
Fund balances at
31 March 2023		 Unrestricted
Funds
Restricted
Funds
Total Funds
Year to 31
March 2023
Total Funds
Year to 31
March 2022
£
£
£
£
388,341
7,355
395,696
317,369
-
6,000
6,000
41,398
91,654
375
92,029
87,773
153
-
153
37
480,148
13,730
493,878
446,577
-
-
-
-
445,374
21,713
467,087
562,068
445,374
21,713
467,087
562,068
34,774
(7,983)
26,791
(115,491)
(7,561)
7,561
-
-
27,213
(422)
26,791
(115,491)
426,095
2,358
428,453
543,944
453,308
1,936
455,244
428,453

The company had no new or discontinued activities during the year.

The notes on pages 9 to 15 form part of these financial statements.

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

BALANCE SHEET YEAR ENDED 31 MARCH 2023

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due
within one year
13
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
One year 14
Net assets
The funds of the charity:
Restricted
15
Unrestricted – general reserves
15
Unrestricted – designated reserves
15
TOTAL CHARITY FUNDS		 2023
£
6,557
99,309

105,866
7,007
 £

356,385
98,859

455,244

-

455,244

1,936
453,308
-

455,244
 2022
£
7,431
59,511

66,942
6,096
 £
367,607
60,846

428,453
-

428,453

2,358
426,095
-

428,453

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:-

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

These financial statements were approved by the directors and authorised for issue on ___ and are signed on their behalf by:

H. Ita Director Company Registration Number: 06032785

The notes on pages 9 to 15 form part of these financial statements.

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Company information

New Life Derby is a company limited by guarantee not having a share capital. The company’s registered office is Redhill Marina, Ratcliffe-On-Soar. At the end of the year there were 8 Trustees, each of whom, under the terms of the Memorandum and Articles of Association, had undertaken to contribute the sum not exceeding £1 in the event of a winding up of the company.

1.1 Accounting convention

These accounts have been prepared in accordance with FRS 102, “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it apples from 1 January 2015. The charity is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in Sterling which is the functional currency of the company Monetary amounts in these financial statements to the nearest £.

The accounts have been prepared on historical cost convention apart from freehold property that is carried at market value. The principal accounting policies adopted are set out below.

These are accounts for the year ended 31 March 2023 prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

1.2 Going concern

At the time of approving the accounts, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.

1.3 Charitable Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

1.4 Incoming resources

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gifts in kind have been included at market value of gifts received and in assets acquired. No amounts are included in the financial statements for services donated by volunteers.

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

1.5 Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in the support of the charitable activities.

1.6 Debtors

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

1.8 Creditors and provisions

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.

1.9 Financial instruments

The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Taxation

The charity is exempt from tax on income and gains falling with section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

1.12 Depreciation

Individual fixed assets are capitalised at cost and are depreciated over their estimated useful economic lives as follows:-

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023 Asset category Annual rate Land and buildings (straight line at cost) 2% Fixtures and Fittings (reducing balance) 10%

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimated and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

3. Donations

Total Funds Total Funds
Unrestricted Restricted Year to 31 Year to 31
Funds Funds March 2023 March 2022
£ £ £ £
Donations 388,341 7,355 395,696 317,369
--------------------------------- ----------------- --------------------------------- --------------------------------
388,341 7,355 395,696 317,369
================================ ================ ================================ ================================
4. Income from grants
Total Funds
Total Funds
Unrestricted Restricted
Year to 31		 Year to 31
Funds Funds
March 2023		 March 2022
£ £
£		 £
Grants
DACP Ltd - 1,500
1,500
-
Community Action Derby - 3,000
3,000
1,000
HM Revenue and Customs - -
-
40,398
Derby Christian Group - 1,500
1,500
-
-------------------------------- ------------------------------------- ------------------------------------- --------------------------------
- 6,000
6,000
41,398
================================ ===================================== ===================================== =============================
5. Other income
Total Funds Total Funds
Year to 31 Year to 31
March 2023 March 2022
£ £
Gift Aid
74,505		 64,773
Rent 15,283 7,563
Sundry income 2,241 15,437
_____ _____
92,029 87,773
=========================== ===========================

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

6. Investment income

Total Funds
Year to 31
March 2023
£

Bank interest receivable (unrestricted)
153
=====================
Analysis of expenditure
Total Funds
Year to 31
March 2023
£
Wages
257,758
Volunteers expenses
206
Staff Training & Travel
Expenses
10,625
Office Administration
34,514
Church Ministries,
outreach and Tithe
67,494
Events and conferences
and project costs
24,476
Property lease and
insurance
7,133
Utilities
12,038
Repairs, maintenance
and equipment
34,464
Fees
3,212
Depreciation
11,222
Sundry
3,945

467,087
 Total Funds
Year to 31
March 2022
£
37
================
Total Funds
Year to 31
Marchr2022
£
266,590
4,283
5,731
33,128
68,698
6,811
3,981
13,237
143,388
3,375
11,512
1,334

562,068

7. Analysis of expenditure

Expenditure on charitable activities was £467,087 (2022: £562,068) of which £21,713 was restricted (2022 £52,214)

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

8. Net (expenditure)/income

Net (expenditure)/income for the year is stated after charging/(crediting):

2023 2022
£ £
Independent Examiner’s Fees 2,000 1,200
Depreciation 11,222 11,512
=========================== ================================

9. Directors and key management personnel

During the year 3 trustees received remuneration to the amount of £88,605 (2002: £78,633)

The key management personnel of the charity consists of the trustees.

10. Employees

The average monthly number of persons employed during the year was

Year to Year to
31 March 31 March
2023 2022
No No
Charitable activities 11 11
____ ___
11 11
================ ================
Employment costs
Year to 31 Year to 31
March 2023 March 2022
£ £
Wages and salaries 232,460 239,865
Social security costs 14,281 14,829
Other pension costs 11,017
 11,896
257,758
 266,590

No employee earned more than £60,000 per annum.

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

11. Tangible fixed assets

Land Furniture
& buildings
& equipment		 Total
£ £ £
Cost
At 31 March 2022 431,106 221,916 653,022
Additions - - -
Disposals - - -
-------------------------------- --------------------------- --------------------------------
At 31 March 2023 431,106 221,916 653,022
================================ =========================== ================================
Depreciation
At 31 March 2022 89,508 195,907 285,415
Depreciation on Disposal - - -
Charge for the year 8,622 2,600 11,222
--------------------------- ---------------- ---------------------------
At 31 March 2023 98,130 198,507 296,637
=========================== ================ ===========================
Net book value
At 31 March 2023 332,976 23,409 356,385
=========================== =========================== ================================
At 31 March 2022 341,598 26,009 367,607
================================ =========================== ================================
12. Debtors
2022 2022
£ £
Gift aid 6,557 7,431
Other debtors - -
-------------------------------- --------------------------------
6,557 7,431
================================ ================================
13. Creditors: Amounts falling due within one year
2023 2022
£ £
HM Revenue and Customs 3,604 4,896
Sundry creditors 3,403 1,200
-------------------------------- --------------------------------
7,007 6,096
================================ ================================
14. Creditors: Amounts falling due within one year
2023 2022
£ £
Loan - -
-------------------------------- --------------------------------
- -
================================ ================================

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NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

15. Analysis of charitable funds

Analysis of charitable funds
At At
1 April 31March
2022 Incoming Outgoing Transfers 2023
£ £ £ £ £
General reserve 426,095 480,148 (445,374) (7,561) 453,308
Designated reserve - - - - -
------------------------------------- ------------------------------------- ------------------------------------- ------------------------------------- -------------------------------------
Total unrestricted funds 426,095 480,148 (445,374) (7,561) 453,308
Community Action Derby - 3,000 (3,134) 134 -
DACP Ltd - 1,500 (1,443) - 57
Derby Christian Group Fund - 1,875 (1,576) - 299
Nigerian Mission 2,358 7,355 (15,560) 7,427 1,580
______ __ __ _____ ______
Total restricted funds 2,358 13,730 (21,713) 7,561 1,936
----------------------------------------- ------------------------------------ ------------------------------------ ----------------------------------- -------------------------------------
Total funds 428,453 493,878 (467,087) - 455,244
------------------------------------- ===================================== ===================================== ---------------------------------- -------------------------------------

General reserve

General reserves are the free reserves after allowing for all designated funds.

Restricted reserves

The Community Action money funded the project Warm Space. The Nigerian Mission money funds work in Nigeria.

The Derby Christian Group money funded the Christmas party. The DACP Ltd funded the Easter activities

16. Analysis of net assets between funds

Tangible Other
fixed assets net assets Total
Unrestricted funds £ £ £
Unrestricted Funds 356,385 96,923 453,308
Designated Funds - - -
Restricted Funds
Nigerian Mission - 1,580 1,580
Derby Christian Group - 299 299
DACP Ltd - 57 57
_____ _____ _____
Total funds 356,385 1,936 1,936
==================================== ============================= ================================

17. Related party transactions

The charity had no related party transactions that required disclosure.

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