NFW LIFE DERBY COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS FOR 31 MARCH 2025 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 FTliANCIAL.STATFMENTS YF.AR FNDFD 31 MARCFI 2025 Contents Page Meinbcrs of Ihe board and professional advisers Trustees, annual report Independent Examiner's Report Statement of financial activities Balance sheet Notes to the financial statements 9-18
NEW LIFE DERBY COMPANY LIMITFD BY GUARANTEE REFF.RENCE AND ADMINI.STRATIVF DF.TATLS The board of trustees Otoyo Heiiry 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 2025 The trustees, who ai"e also Directors for tlie purposes of the Companies Act, have pleasure in presenting their report aiid the unaudited financial statements of the charity for the year ended 31 March 2025. 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. Matthew 28.19 SUMMARY OF THE MAIN ACTIVITIES UNDERTAKEN FOR THE PUBLIC BF.NEFIT IN RELATION TO THESE OBJECTS In setting our objectives, the trustees have considered the Charity Commission's guidance on Churches and Public Benefit. ACHIEVEMENTS AND PERFORMANCE New Life Church Derby continues to serve the diverse inner-city community of Derby-an area representing around 126 different language groups. Our commitment remains to reach, support, and disciple people from every background. Sunday Services & Congregational Life We welcomed an average of 550 adults and children each Sunday from over 52 nationalities. Our hybrid approach (in-person and online) remains vital, especially for elderly or vulnerable individuals who rely on digital connection. We celebrated around 20 baptisms and many salvation decisions during the year. Congregational giving continues to grow steadily. Midweek Ministry & Discipleship Weekly groups met both in person and via Zoom to support spiritual, emotional, and social needs. Groups that are age specific like Children's weekly bible Club, Youth Discipleship Ministry, Young Adults Connect meetings, Gold generation (55years and over) meeting weekly. Daily online prayer meetings helped maintain connection, discipleship, and spiritual discipline.
NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL RF.PORT YF.AR ENDED 31 MARCH 2025 Ive offei.ed ongoiiig marriagye pi"eparation, marital gyuidance, and parenting support. Volunteer Engagement The work of the church is strengthened by approximately 200 committed volunteers who faithfully serve across all ministries and outreach activities. Community Outreach Our outreach ministries continue to experience strong engagement and impact. Warm Welcome, launched in January 2023, has remained a key ministry-providing free hot meals every Wednesday from 12pm-2pm for individuals and families in need. Little Fishes is another key ministry for Parents and toddlers and runs weekly during the school term on a Wednesday from l Oam - 11:30am. Home Churches Having launched Home Churches in August 2021 with 13 groups, we now have 28 Home Churches meeting across the city as of March 2025. Over 75 % of our in-person congregation participates in a Home Church. Leadership training has continued, equipping more leaders to establish new groups. The combination of large corporate gatherings and smaller home-based communities has strengthened relationships, discipleship, mission, and pastoral care. Property and Resource Management The property at 223 Greenwich Drive South, previously near derelict, has now been fully refurbished and continues to provide rental income for our community work. Our Belper church building continues to be leased to Arena Church Ilkeston to support local outreach while remaining under the ownership of New Life Church Derby. Emmanuel Church Duffield As of July 2024, New Life officially was asked to support and lead the congregation in Emmanuel Church Duffield as it was a small struggling congregation. Pastors Roger and Kerrie Robb went over and have taken on the leadership of that congregation, and we are seeing growth and development in the church. Leadership and Staff Team We are grateful for our dedicated leadership, staff, and volunteer teams who contribute significantly to the life and mission of the church. Core Staff Team: Senior Leader- Senior Leader- Associate Pastor- Executive Pastor - Otoyo Henry Ita Dr Rachael Ita Andrew Robinson Blessen Mathew
NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR FNDED 31 MARCH 2025 Youth Pastor - Daiiiel Stcvciis Finance Manager- Mary Jaines Administralor- Daniii Chutnber Cliildren's Pastor - Roshni Mathew Media Specialist - Benjy Bell Media Specialist- Promise Shibu FINANCIAL REVIEW FINANCIAL REVIEW Reserves Policy The trustees, aim is to maintain reserves sufficient to cover support and governance costs, manage fluctuations in income, and sustain operations during periods of financial challenge or unexpected expenditure. Principal Funding Sources Most income continues to derive from congregational giving and associated Gift Aid contributions. 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 detemiine 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 regularly identify and review potential risks affecting the charity and ensure that appropriate controls and procedures are in place. These measures provide reasonable assurance against fraud, error, and financial mismanagement. Independent Examiner Derby Community Accountancy Service and will be in office as independent examiner for the ensuing year.
NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE TRUSTEES? ANNUAL REP()RT YEAR ENDED 31 MARCH 2025 Small company provi.sion8 This report lias been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Trustees, Report and financial statements in accordance with applicable law and regulations Registered office: New Life Christian Centre Nornianton Road Derby DE23 6UU Signed on behalf of the trustees H. Ita Trustee Approved by the trustees on 202
NEW LIFE DERBY COMPANY LINIITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THF. TRUSTEES OF YEAR ENDED 31 MARCH 2025 I report on tlie accouiits of Ihe compaiiy for the ycar ended 31 March 2025 which are set out on pages 7 to 18. Respectii'e responsibililies of the trustees and examiner As tlie cliarity trustces of tlie Trust, you are responsible for the preparation of the accounts in accordance witli the requirements of tlie 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 in connection with the examination which gives me cause to believe that in, any material respect: accounting records were not kept in accordance with section 130 of the Act or the 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. ,jeje q(ITI2s Mark Newey ACMA Derby Community Accountancy Service Babington Lodge 128 Green Lane Derby DEI IRY Date
NEW LIFE DERBY COMPANY LIMITED BY GUARANTEF. STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 Unrestricted Fuiids Restricted Funds Total Funds Year to 31 March 2025 Total Funds Yearto31 March 2024 Note Income froni: Donations Grants Otlier income Iiivestnieiit iiicoine 449,893 22,461 10,300 472,354 10,300 91,425 2,394 477,093 6,750 93,399 346 91,425 2,394 Total incoming resources 543,712 32,761 576,473 577,588 enditure on: Raising funds Charitable activities 544,999 29,844 574,843 559,260 Total expenditure 544,999 29,844 574,843 559,260 Net (expenditure) income (1,287) 2,917 1,630 18,328 Transfer between funds (1,084) 1,084 Net movement in funds (2,371) 4,001 1,630 18,328 Fund balances at l April 2024 464,549 9,023 473,572 455,244 Fund balances at 31 March 2025 462,178 13,024 475,202 473.572 The company had no new or discontinued activities during the year. The notes on pages 9 to 18 form part of these financial statements.
NEW LIFE DERBY COMPANY LIMITF.D BY GUARANTEE BALANCF SIIFET YFAR ENI)ED 31 MARCH 202.5 2025 2024 Notc Fixed assets Taiigible assets Current asset.s Debtors Cash at bank and in hand 11 334,693 345,422 12 5,265 144,817 9,638 131.180 140,818 Creditors: amounts falling due Ivithin one year Net current assets 150,082 13 9,573 12,668 140,509 128,150 Total assets less current liabilities 475,202 473,572 Creditors: amounts falling due after One year Net assets 14 475,202 473,572 The funds of the charity: Restricted Unrestricted - general reserves Unrestricted - designated reserves TOTAL CHARITY FUNDS 15 15 15 13,024 462,178 9,023 464,549 475,202 473,572 For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities:_ The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 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 IL- I t- 25 and are signed on their behalf by: H. Ita Director Company Registration Number: 06032785 The notes on pages 9 to 18 form part of these financial statements.
NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR INDED 31 MARCH 2025 Accounting policies Tlic priiicipal accouiitiiig policics adopted, judgyemcnts and key sources of estimation uncertaiiily iii tlie preparalioii of tlie fiiiancial statements are as follow.s: Conipan), inforniatioii New Life Dcrby is a company limited by guarantee not having a share capital. The coinpany'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. ,l.l 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 l 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 markct value. The principal accounting policies adopted are set out below. These are accounts for the year ended 31 March 2025 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 expenditiire 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.
NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL, STATEMENTS YEI All ENDED 31 MARCH 2025 1.5 Resources cipcndcd All expcndilure is accountcd for on an accruals basis and has been classified under headings tliat aggregate all costs relclting to the category. Where costs cannot be directly attributed to particular Iicadings tliey Iiave been allocclted to activities on a basis consistent with use of the resources. Fiind-raising costs are those incurred in seeking voluntary contributions and do not iiiclude the costs of disseininating information in the support of the charitable activities. 1.6 Debtors Trade and otlier debtors are recogniscd at the scttlcinent amount due after any trade discounts offered. Prepayinents are valued at the amount prepaid net of any trade discounts due. 1.7 Cash and cash equivaleiits Cash and cash equivalents include cash in hand, deposits held at call with banks, other short- term liquid investments witli original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 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 offinancial liabilities Financial liabilities are derecognised when the company's contractual obligations e.xpire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in Ivhich the employee's services are received. Terniination benefits are recognised immediatelj, as an expense when the company is demonstrably committed to tenninate tlie employment of an employee or to provide termination benefits. 1.11 Taxation The charity As 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 tlieir estimated useful economic lives as follows:_ 10-
NF.W LIFE DERBY COMPANY LIMITED BY GUARANTEE NOTES TO TIIE FINANCIAL.STATEMENTS YEAR ENDED 31 MARCH 2025 Asset category Land aiid buildings (straight line at cost) Fixtures and Fittings (reducing balance) Annual rate Critical accounting estimates and judgements In tlie 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 sourccs. The estimated and associated assumptions are based on Iiistorical expcrience and other factors that are considered to be relevant. Actual results may differ from these estiinates. Donations Total Funds Year to 31 March 2025 Total Funds Yearto31 March 2024 Unrestricted Funds Restricted Funds Donations 449,893 449,893 22,461 22,461 472,354 477,093 472J54 477,093 Income from grants Total Funds Restricted Year to 31 Funds March 2025 Total Funds Yearto31 March 2024 Unrestricted Funds Grants Community Action Derby Erewash Community Action 5,300 5,000 ioJoo 5,300 5,000 6,750 ioJoo 6,750 Other income Total Funds Year to 31 March 2025 Total Funds Yearto31 March 2024 Gift Aid Rent Sundry income 70,412 18,672 2,341 71,149 19,507 2,743 91,426 93,399 11
NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE NOTES TO THF FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Ini'cstment income Total Funds Year to 31 March 2025 Total Funds Yearto31 March 2024 Bank interest receivable (unrestricted) 2,394 346 Analysis of expenditure 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 269,991 284,459 19,687 13,193 51,022 42,962 59,792 97,647 64,147 39,725 14,680 18,985 5,337 11,476 57,642 43,784 2,200 2,205 10,729 10,963 5,968 7,509 574,843 559,260 Expenditure on charitable activities was £574,843 (2024: £559,260) of which £29,844 was restricted (2024 £41,893) 12-
NF.W LIFF, DERBY COMPANY LIMITED BY GUARANTEE NOTES TO THF. FINANCIAL STATEMENTS YEAII ENDED 31 MARCFI 2n25 Net (cxpcnditure)/in_comc Net (expcndilurc)/income for thc ycar is staled after charging/(crediting): 2025 2024 Iiidependeiit Examiner's Fees Depreciation 2,000 10,729 2,000 10,963 9. Directors and key management personnel During the year 3 trustees received remuneration to the amount of £96,217 (2024: £10,265) 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 2025 Year to 31 March 2024 Charitable activities 11 13 11 13 Employment costs Year to 31 March 2025 Yearto31 March 2024 Wages and salaries Social security costs Other pension costs 242,631 15,729 11,631 256,035 16,340 12,084 269,991 284,459 No employee earned more than £60,000 per annum. 13-
NEW LIFE DERBY COIIqPANY LIMITF,D BY CIJARANTF.E NOTFS TO TIIF FINANCIAL.STATF.MF.NTS YFAR FNDED 31 MARCH 2025 I l. Taiigible fixed assets Land ,Furniture & buildings & equipment Total Cost At 31 March 2024 Addilions Disposals At 31 March 2025 431,106 221,916 653,022 431,106 221,916 653,022 Depreciation At 31 March 2024 Depreciation on Disposal Charge for the year At 31 March 2025 106,752 200,848 307,600 8,622 115J74 2,107 202,955 10,729 318,329 Net book value At 31 March 2025 315,732 324,534 18,961 21,068 334,693 345,422 At 31 March 2024 12. Debtors 2025 2024 Gift aid Other debtors 5,265 7,811 1,827 5,265 9,638 13. Creditors: Amounts falling due within one year 2025 2024 HM Revenue and Customs Sundry creditors 4,917 4,656 9,573 5,264 7,404 12,668 14. Creditors: Amounts falling due Ivithin one year 2025 2024 Loan 14-
NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE NOTF.S TO THF. FINANCIAL STATF.MF.NTS YEAR ENDED 31 MARCH 2025 15. Analysi5 of charitable funds At l April 2024 Incoming Outgoing Transfers At 31March 2025 General reserve Designated reserve Total unrestricted funds 464,549 543,712 (544,999) (1,084) 462,178 464,549 543,712 (544,999) (1,084) 462,178 Community Action Derby Derby Christian Group Fund Nigerian Mission Amar & Sagar Fund John & Jasmin Fund Limitless New life Gold People in Need Turkey and Syria Appeal Jakes Mission Erewash Voluntary Action 4,646 650 186 360 250 865 536 6,742 205 16,484 270 (6,344) 596 5,640 855 1,470 630 (15,200) (250) 388 (500) (2,025) (350) 753 1,148 2,637 350 1,530 1,530 998 1,423 5,000 (425) (5,000) Total restricted funds 9,023 32,761 (29,844) 1,084 13,024 Total funds 473,572 576,473 (574,843) 475,202 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 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. Jakes Mission was to feed the homeless. Erewash Voluntary Action money was spent on a dishwasher. 15-
NEW LIFE DERBY COMPANY LIIMITED BY GUARANTEE NOTES TO THE FIIYANCIAL STATEMENTS YEAR F.NDED 31 MARCH 2025 16. Analysis of net assets between funds Tangible rixed assets Other net assets Total Unrestricted funds Unrestricted Funds Designated Funds 334,693 127,485 462,178 Restricted Funds Community Action Derby Nigerian Mission Derby Christian Group Amar & Sagar Fund Limitless New Life Gold Turkey and Syria Appeal Jakes Mission 5,640 1,470 855 630 753 1,148 1,530 998 5,640 1,470 855 630 753 1,148 1,530 998 Total funds 334,693 140,509 475,202 17. Related party transactions The charity had no related party transactions that required disclosure. 16-
NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE NOTF.S TO THF FIYANCIAL STATFMF.NTS YEAR ENI)ED 31 IMARCH 2025 18. Statement of Cash Flows 2025 2024 Note Cash (outflows)/ outflows from operating activities Cash generated from operations 19 11,243 31,525 Investing activities Interest received Netra cash provided by Investing activities 2,394 346 2,394 346 Net (decrease)/increase in cash and cash equivalents 13,637 31,871 Cash and cash equivalents at beginning of year 131,180 99,309 Cash at bank and in hand Net cash and cash equivalents 144.817 131,180 144,817 131,180 17-
NEW LIFE DERBY COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCFI 2025 19. Cash generated from operations 2025 2024 (Deficit) for the year Adjustinents for Iiivestinent income shown in investing activities Movement in working capital (Increase)/decrease in debtors Increase/(decrease) in creditors Fixed Asset Adjustment Depreciation charge Purchase of Assets Disposal of Assets Cash generated from operations 1,630 18,328 (2,394) (346) 4,373 (3081) (3,095) 5,661 10,729 10,963 11,243 31,525 18-