Charity number: 112454
Forest New Life Church
Trustees' report and financial statements
for the year ended 31 March 2024
Forest New Life Church
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees report | 2 - 4 |
| Independent examiners' report | 5 |
| Statement of financial activities | 6 |
| Income and expenditure account | 7 |
| Balance sheet | 8 |
| Cash flow statement | 9 |
| Notes to the financial statements | 10 - 13 |
Forest New Life Church
Legal and administrative information
| Charity number | 112454 |
|---|---|
| Business address | Parkend Baptist Church |
| Folly Road | |
| Parkend | |
| Gloucestershire | |
| GL15 4JF | |
| Trustees | K Bushell (Chair) |
| H Cartlidge | |
| A Freeman | |
| S Barnard | |
| Accountants | Oversby & Company |
| Unit 1C Mushet Business Centre | |
| Crucible Close | |
| Coleford | |
| Gloucestershire | |
| GL16 8RE | |
| Bankers | Barclays Bank |
| 17-18 Agincourt Square | |
| Monmouth | |
| NP25 3DY |
Forest New Life Church
Report of the trustees for the year ended 31 March 2024
The trustees present their report and the financial statements for the year ended 31 March 2024. The trustees who served during the year and up to the date of this report are set out on page 1.
Structure, governance and management
For this period from April 2023 to march 2024 there has been stability in the trusteeship with Keith as Chair and finance, Haley Admin and Sam and Aeron Trustees bringing the number up to 4. We would still like a fifth trustee to be appointed so that we do have an odd number.
Jonathon and Pete and Jean continue in their excellent leadership of the church with input from the trustees and the vision team.
Financially we continue to be stable with an increase in the income mainly due to the recovery of some back dated gift aid however this has been offset with increased outgoings .
There has been a marked increase in the cost of electricity so we would ask all to continually look to reduce this usage where possible.
We have increased the usage of the church building. We have a very full program now with Mondays:- Baby massage and evening prayer meeting (march to October in church) Tuesdays :- Cake and coffee (plus various house groups that don't meet in the church) Wednesday:- Parents and Tots Friday :- Two after school clubs , junior and senior run after each other Saturday:- monthly family meeting Sunday :- Weekly morning service and monthly evening Service
As we move forward, we as trustees will continue to oversee the non spiritual parts with input from the spiritual leaders and hopefully the spiritual leaders will heed our practical and legal advice!! I'm completely confident in this.
We continue in our relationship with the Baptist cCurch , however most if not all of cleaning, renovation or improvement work is completed by us.
There are still a number of concerning areas we would like resolved including carpets , furniture , exterior painting, overall structure of the building and progress on construction of an accessible toilet.
We are together with the leadership looking at a contingency plan if we have to relocate for any major works to be undertaken.
We have been progressing on safeguarding , updating the policy , ensuring all workers are DBS checked and have a roadmap to ensure all training is completed.
We will be putting up pictures with roles of leadership, trustees and other key workers
The website has been revamped and we are now using church suite for most of our admin. Other key tools are available and being explored for our application.
We continue to praise God for his provision and thank him that he continues to bless us. We trust God to continue to move us forward in the following months and years.
Forest New Life Church
Report of the trustees for the year ended 31 March 2024
God bless Keith Bushell Chair of trustees FNLC October 20th 2024 , 2024AGM
Forest New Life Church
Report of the trustees for the year ended 31 March 2024
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other
On behalf of the board
Secretary
Forest New Life Church
Independent examiner's report to the trustees on the unaudited financial statements of Forest New Life Church.
I report on the accounts of Forest New Life Church for the year ended 31 March 2024 set out on pages 2 to 13.
Respective responsibilities of trustees and independent examiner
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act), as amended by section 28 of the Charities Act 2006 does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3)(a) of the Act, as amended; to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act, as amended; and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(i) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep proper accounting records in accordance with section 41 of the Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...........................................................
Amy Snook FMAAT Association of Accounting Technicians Independent examiner Unit 1C Mushet Business Centre Crucible Close Coleford Gloucestershire GL16 8RE
Forest New Life Church
Statement of financial activities
For the year ended 31 March 2024
| Unrestricted funds Notes £ Incoming resources Incoming resources from generating funds: Voluntary income 2 38,644 Investment income 3 278 Incoming resources from charitable activities 4 1,102 Other incoming resources 5 - Total incoming resources 40,024 Resources expended Establishment costs 11,095 Motor and travelling expenses 396 Legal and professional fees 24,147 Other office expenses 2,358 Depreciation and impairment 157 Other governance costs 350 Total resources expended 38,503 Total funds brought forward 31,921 Prior year adjustment - Restated total funds brought forward 31,921 Total funds carried forward 33,442 |
2024 Total £ 38,644 278 1,102 - 40,024 11,095 396 24,147 2,358 157 350 38,503 31,921 - 31,921 33,442 |
2023 Total £ 29,684 49 - 1,000 |
|---|---|---|
| 30,733 | ||
| 8,036 185 21,903 1,177 191 449 |
||
| 31,941 | ||
| 32,543 587 |
||
| 33,130 | ||
| 31,922 |
All of the above amounts relate to continuing activities.
The notes on pages 10 to 13 form an integral part of these financial statements.
Forest New Life Church
Income and expenditure account
For the year ended 31 March 2024
| Notes Income Net gains from disposal of income fund fixed assets Total income Operating expenditure Operating surplus/(deficit) Other income Interest receivable and similar income Retained surplus/(deficit) for the financial year |
2024 £ 39,746 - 39,746 ) (38,503 1,243 278 278 1,521 |
2023 £ 29,684 1,000 30,684 ) (31,941 ) (1,257 49 49 ) (1,208 |
|---|---|---|
All activities derive from continuing operations.
The notes on pages 10 to 13 form an integral part of these financial statements.
Forest New Life Church
Balance sheet as at 31 March 2024
| Notes Fixed assets Tangible assets 7 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Net assets Funds 9 Unrestricted income funds Total funds |
2024 £ £ 713 33,078 33,078 ) (350 32,728 33,441 33,442 33,442 |
2023 £ £ 872 31,370 31,370 ) (337 31,033 31,905 31,920 31,920 |
2023 £ £ 872 31,370 31,370 ) (337 31,033 31,905 31,920 31,920 |
|---|---|---|---|
| 31,905 | |||
| 31,920 | |||
| 31,920 |
The financial statements were approved by the trustees on 20 October 2024 and signed on its behalf by
K Bushell (Chair) Trustee
The notes on pages 10 to 13 form an integral part of these financial statements.
Forest New Life Church
Cash flow statement
for the year ended 31 March 2024
| Notes Net incoming/(outgoing) resources for the year Interest receivable Loss on disposal of fixed assets Depreciation and impairment Increase in creditors Net cash inflow/(outflow) from operating activities Returns on investments and servicing of finance 11 Capital expenditure 11 Increase/(Decrease) in cash in the year Reconciliation of net cash flow to movement in net funds 12 Increase/(Decrease) in cash in the year Net funds at 1 April 2023 Net funds at 31 March 2024 |
2024 £ 1,521 ) (278 - 157 30 1,430 278 - 1,708 1,708 31,370 33,078 |
2023 £ ) (1,208 ) (49 ) (1,000 191 20 ) (2,046 49 1,000 ) (997 ) (997 31,796 30,799 |
|---|---|---|
Forest New Life Church
Notes to financial statements for the year ended 31 March 2024
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Charities Act 1993.
1.2. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
Income from investments is included in the year in which it is receivable.
1.3. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
1.4. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Fixtures, fittings and equipment 18% Reducing Balance
Forest New Life Church
Notes to financial statements for the year ended 31 March 2024
| 2. Voluntary income Unrestricted funds £ Donations 32,781 Gifts 5,863 38,644 3. Investment income Unrestricted funds £ Bank interest receivable 278 278 4. Incoming resources from charitable activities Unrestricted funds £ Grants 1,102 1,102 5. Other incoming resources Gain on disposal of tangible fixed assets |
2024 Total £ 32,781 5,863 38,644 2024 Total £ 278 278 2024 Total £ 1,102 1,102 2024 Total £ - - |
2023 Total £ 22,910 6,774 |
|---|---|---|
| 29,684 | ||
| 2023 Total £ 49 |
||
| 49 | ||
| 2023 Total £ - |
||
| - | ||
| 2023 Total £ 1,000 |
||
| 1,000 |
Forest New Life Church
Notes to financial statements for the year ended 31 March 2024
6. Employees
Employment costs
No salaries or wages have been paid to employees, including the trustees, during the year.
Number of employees
The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows:
| 2024 Number Fixtures, 7. Tangible fixed assets fittings and equipment £ Cost At 1 April 2023 and At 31 March 2024 2,422 Depreciation At 1 April 2023 1,551 Charge for the year 157 At 31 March 2024 1,708 Net book values At 31 March 2024 714 At 31 March 2023 871 8. Creditors: amounts falling due within one year 2024 £ Accruals and deferred income 350 |
2023 Number Total £ 2,422 |
|---|---|
| 1,551 157 |
|
| 1,708 | |
| 714 | |
| 872 | |
| 2023 £ 320 |
Forest New Life Church
Notes to financial statements for the year ended 31 March 2024
| 9. Analysis of net assets between funds Fund balances at 31 March 2024 as represented by: Tangible fixed assets Current assets 10. Unrestricted funds Main Income 11. Gross cash flows Returns on investments and servicing of finance Interest received Capital expenditure Receipts from sales of tangible assets 12. Analysis of changes in net funds Cash at bank and in hand Net funds |
Unrestricted Total funds funds £ £ 714 714 32,728 32,728 33,442 33,442 At At 1st April Incoming Outgoing 31st March 2023 resources resources 2024 £ £ £ £ 31,921 40,024 ) (38,503 33,442 2024 2023 £ £ 278 49 - 1,000 Opening Cash Closing balance flows balance £ £ £ 31,370 1,708 33,078 31,370 1,708 33,078 |
Total funds £ 714 32,728 |
|---|---|---|
| 33,442 |
Forest New Life Church
The following pages do not form part of the statutory accounts.
Forest New Life Church
Detailed statement of financial activities
For the year ended 31 March 2024
| Charitable activities Governance costs Activities undertaken directly Other governance costs Total governance costs Net incoming/(outgoing) resources for the year |
2024 £ 350 350 350 1,521 |
2023 £ 449 449 449 ) (1,208 |
|---|---|---|
Forest New Life Church
Detailed statement of financial activities
For the year ended 31 March 2024
| Incoming resources Incoming resources from generating funds: Voluntary income Donations Gifts Investment income Bank interest receivable Total incoming resources from generating funds Incoming resources from charitable activities Grants Other incoming resources Gain on disposal of tangible fixed assets Total incoming resources Resources expended Costs of generating funds: Cost of generating voluntary income Donations Donations - Establishment - Rent Donations - Establishment - Light & heat Donations - Establishment - Repairs & maintenance Publicity/Outreach Catering Functions Donations - Other motor & travel costs Training & Teaching Visiting Speaker Subs/Licences Computer Costs Trustees Insurances Stationery Costs Donations - Depreciation & impairment |
2024 £ £ 32,781 5,863 38,644 278 278 38,922 1,102 1,102 - - 40,024 1,500 1,386 2,085 5,596 528 396 23,872 275 715 939 652 52 157 38,153 |
2023 £ £ 22,910 6,774 29,684 49 49 29,733 - - 1,000 1,000 30,733 1,500 848 1,565 4,050 73 185 21,903 - 478 290 409 - 191 31,492 |
2023 £ £ 22,910 6,774 29,684 49 49 29,733 - - 1,000 1,000 30,733 1,500 848 1,565 4,050 73 185 21,903 - 478 290 409 - 191 31,492 |
|---|---|---|---|
| 29,684 | |||
| 49 | |||
| 49 | |||
| 29,733 | |||
| - | |||
| - | |||
| 1,000 | |||
| 1,000 | |||
| 30,733 | |||
| 31,492 |
Forest New Life Church
Detailed statement of financial activities
For the year ended 31 March 2024
| Total cost of generating voluntary income Fundraising trading: cost of goods sold and other costs Total costs of generating funds |
38,153 38,153 |
31,492 |
|---|---|---|
| 31,492 |