NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS FOR 31 MARCH 2024 Company Registration Number 06032785 Charity Number 1121508 DERBY COMMUNITY ACCOUNTANCY SERVICE Babington Lodge 128 Green Lane Derby DEI IRY NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR FNDED 31 MARCH 2024 Coiiteiits Page Members of the board and professional advisers TrLlStees' annual report Independent Exaininer's Report Siateinent of financial activities Balance sheet Notes to Ilie financial statements 9-16 NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE REFERENCE AND ADMINISTRATIVE DETAILS The board of trustees Otoyo Henry Ita Dr Rachael E Ita Mr Blessen Matthew David Ford Rebekah Ford Roger Robb Kerrie Robb Arjun Dondapati Senior Pastor Lecturer In Law Executive Pastor Executive Creative Director Business owner Parenting Practitioner Transitional Care Support Worker Engineer Registered office New Life Christian Centre Nonnanton Road Derby DE23 6UU Independent Examiner Mark Newey ACMA Derby Community Accountancy Service Babington Lodge 128 Green Lane Derby DEI IRYT NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 The trustees, who are also Directors for the purposes of the Companies Act, have pleasiire in presenting Iheir report and the unaudited financial statements of Ihe charity for thc year ended 31 March 2024. MISSION OBJECTIVES AND ACTIVITIES Misslon Statenient: We exist to express the power of God's love to individuals, families, coinmiinities, and nations. Objectives and aims: Our objective and aim are to engage with every generation and all ciiltures and disciple them in the way of our Lord Jesus Christ. Vision: To go and Inake disciples of all nations. Maltlieiv 28.19 ,SIJMMARY ()F THE MAIN ACTIVITIF..S UNDERTAKEN FOR THE PUBLIC BENEFIT IN RELATION TO THE.SE OBJECTS Iii our strategic planiiiiig, we have sought guidance from the cliarity Commission's document 'Cliurches aiid Public Benefit, and have considered its advice in our objectives and activities. ACHIEVEMENTS AND PF.RFORMANCE vast and mulii-culturally diverse cominunily Wlth about 126 languagye groups. As a charity we try to engage and connect with all people groups, and tliis reflects in our services on a Sunday where we have gyathered every SLinday on avera(ye 500 adults and cliildren from around 52 different nationalities. We also go hybrid in our approach to providiiigy services as a churcli, Ivhcre we conduct our meetings both in person and onliiie. It lias helped the coiigregation to engage, especially those wlio are isolated because of the pandemic. Our Sunday services keep growing aiid we see new people being added to the congregation. Ive have also had a good number of baptisms in tlie last yeclr, about 25 in total and many salvation decisions. Since the paiidemic we have been having many just join lis online and we still Iicive some elderly who can't make it in and just join online. Throughout the wcek we have groups meeliiig on Zoom aiid in person and these gyi"OllPS SCLk to meet the social, emotional, and spirilual nccds of everyoiic. ￿Te havc a dcdic<2ted teani Nvlio Iielp with various communily and family Inaltcrs. Tliese iiiclude marriage preparation classes, niarriage guidance and parental advice. We havc prayers 011 Zooiii every dcly, it Iielps people to be connected relationally but also in tlieir spiritual lifc. NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 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. Tlie churcli has been very generous, and we have seen an increase in our giving over the last year comparing it to this time last year. All our outreach ministries have becn running fully and we have scen a growth in numbers through these outreach ministries. One of these outreach ministries is out Warm Welcome 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. Comiiig out of the pandeinic we launched Home Churches and have over 27 Home Churches meeting in different parts of the city. We launched our Home Churches in August 2021 with 13 Home Churches and gradually the number of home churches have increased to 26. By the end of March 2024 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 iiicome to support the work we do in the Normanton area. We have conliliued to lease our church biiilding in Belper to Arencl Churcli Ilkeston, to run outreach work in tlie local area. The building itself continues to be retained by Neiv Life Chlirch Derby. New Life Church Derby has an excellent team of truslces aiid staff Nvlio woi'k Nvell looetlier to make the church a vibrant expression of the Christian faitli in tlie local coinniunity and beyond. throughout the year. The following are the names of Ihe Trustee leam: Otoyo H O Ita Rachael E Ita Blessen Matthew David Ford Rebekah Ford Roger Robb Kerrie Robb NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 Arjun Dondapti Staffin Whilsl we currenily enjoy a full and comprchensive staff team that lead and manage many of our church activities during the Iveek, 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 slaff team is as follows: Senior Leader- Otoyo Henry Ita Senior Lcader - Rachael Ita Associate Pastor- Andreiv Robinson Executive Pastor- Blessen Mathew Youth Pastor- Daniel Stevens riiiaiice Manager- Mary James Administrator- Danni Chumber Childreii's Pastor- Roshni Mathew Ministry Assistant- Tim Di Betta Media Specialist- Benjy Bell Media Specialist- Promise Shibu FINANCIAL REVIEW FINANCIAL REVIEW Reserves policv: Tlie trustees aim lo maintain a level of reserves wliich tliey considcr to be sufficient to cover Support and gyovernance costs. The reserves are needed to bridge tlie fiinding gaps between unrestricted spending and receiving resources and allow for possible eiiiergeiicy costs. Short lerm reserves will be needed lo sustain operations for periods wliere lack of incoining resoiirces causes casliflow problems. Principal funding sources: Most of the income was gencratcd from gifts reccivcd, and associated gift aid. STRUCTURE GOVERNANCE AND MANAGEMENT Governing document: The charity is controlled by its governing document, a decd of trust, and constitiitcs a liinited company: limitcd by guarantee, as defined by thc Companies Act 2006. Induction and training of trustees The Charity undertakes, when the need arises, a skills audit to detemiine tlie reqiiirements of the trustee body. If a skill shortage is identified, approaches are made to specific people identified as having these skills NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 Risk niaiiagenieiit policy The trustees have a duty to identify and review Ihe 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 Scrvice and will be in office as independent examiiier for Ihe ensuing year. Small company provisions This report has bccn prepared in accordance with the spccial provisions for small companies under Part 15 of the Companies Act 2006. Registered office: New Life Christian Centre Normanton Road Derby DE23 6UU Sigyned on belialf of tlie It￿SteLS H. Itc1 Truslcc Approved by the trustees on 13-12- 2D2-q NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTFFS OF YEAR ENDED 31 MARCH 2024 I report on the accounts of Ilie company for the year ended 31 March 2024 whicli are set out on pages 7 lo 16. Respective responsibilities of tlie trustees and exaininer As tlie charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance Ivith 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 201 l Act and iii carrying out my examination, I have followed the applicable Directions given by thc Charity Coinmission 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 attentioii in connection with the examination which gives me cause to believe that in, any Inaterial respcct: accounting records were not kept in accordance with section 130 of the Act or tlie accounts do not accord with the accounting records 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. q {IEIL+ Mark Newey ACMA Derby Community Accountancy Service Babington Lodge 128 Green Lane Derby DEI IRY Date NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024 Unrestrictcd Fuiids R.cstricted Funds Total f4 unds Year to 31 March 2024 l otal funds Yearto31 March 2023 Note Inconie fi"oni: Donatioiis Grants OLher iiicoine Invcsinieiil iiicoiiic 439,941 37,152 6,7iO 477,093 6,750 93,399 346 395,696 6,000 92,029 153 93,399 346 Total inconiing resources i33,686 43,902 577,588 493.878 en(liture on: Raising funds Cliaritable activities 517J67 41,893 559,260 467,087 Total e.Ipenditure 517J67 41,893 559,260 467,087 Net (expeiiditure) inconie 16,319 2,009 18J28 26,791 Transfcr between funds (5,078) 5,078 Net movement in funds 11,241 7,087 18J28 26,791 Fund balances at l April 2023 453,308 1,936 455,244 428,453 Fund balancL'S at 31 March 2024 464,549 9,023 473,572 455,244 The coinpany had no new or disconlinucd aclivilics diiriiig the yC. Wages Staff Training & Travel Expenses Office Administration Church Ministries, outreach and Tithe Events and conferences and project costs Property lease and insurance Utilities Repairs, maintenance and equipment Fees Depreciation Sundry 284,459 257,758 13,193 10,831 42,962 34,514 97,647 67.494 39.725 24,476 5,337 11,476 7,133 12,038 43,784 34,464 2,205 3,212 10,963 11,222 7,509 3,945 559,260 467,087 Expenditure on charitable activities was £559,260 (2023: £467,087) of which £41,893 was restricted (2023 £21,713) 12- NEW LIFE DERBY COMPANY LIMITED BY GUARAINTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Net (expenditure)/income Net (expenditure)lincome for the year is stated after charging/(crediting): 2024 2023 Independent Examiner's Fees Depreciation 2,000 10,963 2,000 11,222 Directors and key management personnel During the year 3 trustees received remuneration to the amount of £1 00,265 (2023: £88,605) 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 31 March 2024 Year to 31 March 2023 No Cliaritable activities 13 13 Employment costs Year to 31 March 2024 Yearto31 March 2023 Wages and salaries Social security costs Other pension costs 256,035 16,340 12,084 232,460 14,281 11,017 284,459 257,758 No employee earned more than £60,000 per annum. 13- NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 I l. Tangible fixed assets Land Furniture & buildings & equipment Total Cost At 31 March 2023 Additions Disposals At 31 March 2024 431,106 221,916 653,022 431,106 221,916 653,022 Depreciation At 31 March 2023 Depreciation on Disposal Charge for the year At 31 March 2024 98,130 198,507 296,637 8,622 106,752 2,341 10,963 307,600 200,848 Net book value At 31 March 2024 324,354 332,976 21,068 23,409 345,422 356,385 At 31 March 2023 12. Debtors 2024 2023 Gift aid Other debtors 7,811 1,827 9,638 6,557 6,557 13. Creditors: Amounts falling due witliin one year 2024 2023 HM Revenue and Customs Sundry creditors 5,264 7,404 12,668 3,604 3,403 7,007 14. Creditors: Amounts falling due within one year 2024 2023 Loan 14- NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 IS. Analysis of charitable funds At l April 2023 Incoming Outgoing Transfers At 31March 2024 General reserve Designated reserve 453,308 533,686 (517,367) (5,078) 464,549 Total unrestricted funds 453,308 533,686 (517,367) (5,078) 464,549 Community Action Derby DACP Ltd Derby Christian Group Fund Nigerian Mission Amar & Sagar Fund John & Jasmin Fund Limitless New life Gold People in Need Turkey and Syria Appeal 8,216 (3,570) (57) (394) (27,560) 4,646 57 299 1,580 370 26,166 360 250 5,343 2,537 350 310 375 650 186 360 250 865 536 (4,891) (5,071) (350) 413 3,070 1,220 1,530 Total restricted funds 1,936 43,902 (41,893) 5,078 9,023 Total funds 455,244 577,588 (559,260) 473,572 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 Easler activities The Amar & Sagar Fund funded missionary work in India. The John & Jasmin Fund funded missionary work in India. The Limitless project funded a youth project. The New life Gold project funded an elderly project. People in Need funded community support. The Turkey and Syria Appeal funded relief work. 15- NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 16. Analysis of net assets between funds Tangible rixed assets Other net assets Total Unrestricted fuiids Unrestricted Funds Designated Funds 345,422 119,127 464,549 Restricted Funds Community Action Derby Nigerian Mission Derby Christian Group Amar & Sagar Fund John & Jasmin Fund Limitless New Life Gold Turkey and Syria Appeal 4,646 186 650 360 250 865 536 I,)30 4,646 186 650 360 250 865 536 1,530 Total funds 345,422 128,150 473,572 17. Related party transactions The cliarity had no related party transactions that required disclosure. 16-