NEW COVENANT CHERUBIM & SERAPHIM MOVEMENT CHURCH I A CHARITA8LE COMPANY LIMtTE0 8Y GUARANTEE) COMPANY REGISTERED NUMBER 06765744 CHARITY REGISTERED NUMBER .' 1130858 REPORTS AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 *NMB16Y8* 0610812021 COMPANIES HOUSE A18 #47 NEW COVENAprr CHERUBIM & SERAPHIM MOVEMENT CHURCH { A CHAHITA8LE COMPANY LIMITED BY GUARANTEEI Report and accounts Contents Page Company information Trustees. report Slralegic repK Independent aL*Jitofs reF*Yt Income statement Sktement of comprehersive income Slatemeni ol Ilnanclal Frt)siIK)n StatemLMt ol changes in equity Notes to the fina￿la1 Statements 10 12 13 16 NEW COVEN￿ CHERUBIIA & SERAPHIM MOVEMEpif CHURCH ( A CHARITA8LE COMPANY LIMITED BY GUARANTEEI Company Information Trugt¢é$ Mrs Oluw*oyn Fakse I Chaim)anl Mr Adeleke Johnson (Vice Chairrnanl Mr TolulorÈ Adetrrt)w￿e 0yew0￿ ISe¢retaryl Special Apostle Alfred Oladipo Jegede { Chui¢h Pa*orl hAr IAi¢hael AliL￿la Adekunle Akande Imemberl Mrs Bosede Adetxjla lielu IMemb&TI Mr John Ogunleye Oridupa ITre5urerl- Rewgne(l on 1 SOfK20 Mrs Omobla Deborah Okutubo Imemberl - AFwinled on 19112120 S¢¢ret8ry Mr Tolulope Adetowale OyEwole Auditors SM Harman Limited Chartered Certilied Accountants & Registered Auditors 261 Green Lanes Palmers Green London N134XE Reglstered number 06765744 NEW COVENANT CHERUBIM & SERAPHIM MOVEMENT CHURCH I A CHARITABLE COMPANY LIMITED BY GUARANTEE) Registered Number.. 06765744 Charity Registered Number.. 1130858 Trustees. Report The Irusiees who are also ¢Jve¢￿r$ of th• charity for the puws of the Act. Ixesent their rewrt finan¢iJ slatem8nls lor th8 year end8d 31 2020. Slruetyre, Governanct •rKI Man•gtm•nt New Covenani Cherubim & Seraphim Kkwement Church is a tharilatAe cg>mpany whi¢h was eslaNished for ¢haritatrAe pU￿￿se and lor pUt￿le ￿enefit in England arn1 Wales. was regislered whith Companies H￿se on 4th December 2CQ8 as a wovale company J¥rAled by guarantèe. with Charity corwnisS￿ on 30th July 2009 as an irurpordt8d chaiity. Govwnlng Oocummt The ir¢orp¢yated tharity ts govemed by the Mernctsr￿um and Artic￿ ol Association adopted on 7th Jvly 2013. The chafiiable corrpary ha5 no share capital. blrt in thè ev￿1 of being wound up. members. guarantee Is limrted lo Ten ￿U￿￿(£101. Tru¥lees SelectTron IA8th0ts Induding Do18il$ od any Conslllutlo￿l Provis•or The goveming ¢Jocument promdes tor a maximthm of nine191 Oirectorifrustees who have a lile span ot three lerrn5 of two years ead) aiier whrd) thal a￿ noi elwJible for the Board until hwo years gave elapsed. The DIrectots￿￿st0eS are selecte¢J by Selection Conbmittee sel up for that pur￿5￿, The Cornmittèe would screen and intemew the can(lidates recoTnm8ThJèd to thèm by the men*ers of the charity who musi not be un(Jef 25 years ol age. The caThYLdates were at50 subject to swtual sereening after whieh thay are Presented to Ihe members at an Annual Gener￿ MeeiiThJ OT a s￿la1 &nefal Meeting lor ratilrAtw. Truslee Induction and Tralning Directors and Trustees are acttvdy iftv¢fved in traiThng PrograMn￿ Ihat are run by the Church and offered professional adv￿ arKI assistance by exlernJ consuttants for the èxecubon ol thtrr duties as Direciors and Trusties ol the charit*Ye conyny. Addilionally, new Tnjstees are invrfed and er￿Ouraged lo atterhj a series of short trwruivJ sgssioF15 to farniliarise themselves wlh Charitable Company and the context vrithin wh￿h rt operates. These a joinuy led by Ihe Church Pastor anLI Chwr ol the Board ol Directors and Trustèès. and faeiliated by th8 training departmènt. Go¥ema￿e The Board ol L*rectors ar*J Trusiees meei tegulaty and are resF*)nsit4e lor the Strateg￿ direclvjn and polKy ol the ¢harily. Thg Operati￿al re5Fon51t4ity lor the runrwng of the charity lies wth the Directors and Truslees. The 8oar(J ot Directors and TnJste8S S Tt5p)ns￿* lor ensuriNJ that the ehanty achieves its wnupal aim. The Eklers-in-C0u￿ll wer8 apwinted 10 manage the operalional affairs of the Clwrth in li￿ vMh th8 doctrine arKI princi￿e$ ol our faith. The 24-rn8mL*r El¢Jers-in.C¢)uncil led by tf* Church who akn thjubks as the Chairman of the District contsnue io funciion as required to manage the chU￿h ettecttvely a5 directed by Ihe Trustees anLI led by lh• Sprit of Gctl. The Church is a part ol a woth4i(le relIg￿S organi5ation 1.8. The Chènlim and Seraphim Movement Church. the struciurt of thts orgarmsabon has a 1rarne￿￿rh for branch creation and managerrent under Districts. The New Covenant Church has been ￿nn1￿ as part ol Clsirici ar)J usas tha stnxbjrè to croatg and manage branchas. This root and branch stWCbJre rdate only lo the Chufch and Ikxs nol ir￿lU￿8 the managernent of the limiled or crynpany or regtherg(I charity. NEW COVENANT CHERUBIM & SERAPHIM kloVEmEP￿ CHURCH I A CHARITABLE COMPANY LIMrrEO BY GUARANTEE) Registered Number: 06765744 Charity Registered NuMtr￿r.. 1130858 Trustees. Report Cornmunic•iion We mako it a point ol duly to update membefs ol key (lecitions of thè 8oard. 8oard ￿Ets rneeb'ngs with ¥takeho￿rs on. or ccXThr4￿le issues ￿ Charity. Pastorale The pasiorate continues to briro on toard leaders covering dep*tn*nts arn) units aeross thè Church in a tmd to 5treWh8n paskn)Ta services in Ihe t￿nisab.￿. Administration The Church's Administration oifLe ￿Mairts an eff￿[We daering hO￿e the Church aThJ its variou5 gans. Principal activities The cory)any's wincipal acbvty during Ihe year ￿tin￿￿1 to be a chaiitaLrfe company. Main rA)jectNe ol which are those ol a religi￿$ (Kgani5ation for the thancemenl of Christian ￿lIeve5. This includes worship anLJ the Invol￿me￿I of various mini5tri&s and ministriès of reli￿0￿ Fxopagaling Christian tenets to both mèmbers and Mfvmèmbers of Ihe Chvrch at various meetings. and owdir#J SUPF£rt and services that add￿sS the n*Js of our ktal community. The I￿ard of Irusièes consit16r that in th)ing so the charitable cornpany is actirmj lor the public tr*n8fil. Twslees The lollowir#J persons seNe(l as TrLLStees duriNJ lh¢ year: Mrs Ojuwatoyin Fajese I Ch￿r[T￿l Mi Adeleke Jthnson IWi¢e Chwrmanl Mi Tolulope A{Jebow￿e Oyewde (sec￿￿ryI Special Ap05tle Alfred OladiFO Jegede I Church Pasitr) Mr Michael Ajibola Adekunle AkaThJe [V￿rr￿er) Mrs Bosede Adebda lJe>J Imemberl Mr John Ogunleye OrKlupa ITre5urerl- ResvJned on 15I0eI20 Mrs Omolola Deborah <￿tIl￿b0 IMeni)erl. Ap￿lets on 19112120 Trustees. responsibllit Th8 Tnjstees are responsib￿ lor ￿epari￿a Ihe feF*M aThJ fina￿1￿ State￿￿nts in a¢xordancg wlth prJic*Ae arky r&JvJabon5. Company law requires the Trustees to wepare financial staternents for each financial year. Under that law ihe Trustees have eknted io prepare the financial *atements in acuirdance with Unrted Kingdom Generally Accepted Accounting practi￿ (Financial Re￿thng StaNJard 102 and a[￿￿able lawl. Uwx1er company law Ihe T￿SteeS rnusi not aFI)rove Ihe Iinaroal state￿￿nts unbes5 they ar• satisfied that they give a true and fair Mew 01 th8 slate of affairs of th• company aThJ of Ihe profil or loss ol Ihe coff4)any fof that Fonc*J. In pying tw fir4￿la1 stalements. Twsteos a required to: select suilable accounting FKJlKies a￿1 then appty them o)nsistently" make judgernents and estimales that are reasonatAe prudent." • stat* whether UK Ac¢ountivvJ Standards have been lollow&J. gjbj'ect to any material epart4Jres disclosed aryj explained in the linancial statemenls: ptepare the fi'na￿181 statements on the goirrfj ￿￿tr$S it is in¥wrcwate to Ihal thg cotryany will continu8 in bu￿￿95. NEW COVENANT CHERUBIM & SERAPHIM MOVEME1￿ CHURCH I A CHARITABLE COIAPANY LIMITED BY GUARANfEE) Registered Number.. 06765744 Chanty Registered Number: 1130858 Trustees. Rep￿1 The Trustees a￿ ￿p)nSIb￿ for kewMJ ackn]uate ￿Njn11ng reeorcls that are sufficienl lo show and explain the company's Iiartsactiorts and th5dosg with reasonab18 a￿jraCY at any lime the finanoal position ol Ihe o)ftpany a￿1 enable them lo ensure that Ihe fInar0￿ statements COrr￿Y with the Companies Act 2006. Thèy are ￿$0 resFxJn%tAe for safeguarfiNJ the assets of Ihe coryjany and hence for taking reasonat4e sleps f¢y the pre¥enlKJn awKI detecti(￿ of fr￿ a￿1 Oihar irrggulan"li8S. Dlsc105ure ol Infomiatton to audllo Each person vtho was a trustee at the li￿ Ihis ffep￿ was cTrifir￿ that.. so far as he is aware. lhe￿ rh) relevanl a￿j1[ inlorrnalion of vthi¢h Ihe ¢ompawry's auditor 15 unaware,. a￿1 he has taken all Ihe steps Ihat h8 ou9hl to have taken a5 a Injstee in order to makè himsem aware of any relevant audit infiymaiKJn arnl to e$lab￿h that the c(MnpanYs auditor is aware ol that inlormaiion. This report was aFw¥ed bythe bjard on 21 Juty 2021 ar￿ signed by rts order. Mrs Qyuwatoyin Fale5e Trusle Mr Ad818ke Johnson Trustse NEW COVENANT CHERUBIM & SERAPHIM MOVEMENT CHURCH { A CHARITABLE COMPANY LIMITE[) By GUARANTEEI Strategie Report Isaiah 40..11 He sh￿1 lee¢ his ffodt like a shephercs.. he s￿1 galher lants Mth ami, aThJ carry them in his bosom, and sh￿1 gèndy those Ihat arè Y￿h ycwJNJ. We tAess the naffte ol Jehovah Elohim. GCMY ol our father saint ￿5•S Orimolade lor giviro us the grace lo witness anothèr ANNUAL GENERAL MEETING feportirKJ on our 2020 year xtiwties. The year 2020 was a year unlike any we've ¢￿r seen-for our Churth and our nation. A woddwide parthmie hit, aNJ evWiThJ changed.. our schedules. the way we work and do tw&ness, h¢)w we live. we shc¢). aTrJ even how we ty) lo Church chaNJ•d. li was a yeai ol unwecedented Char￿ arKS leaming how to do thiTrJs diffe￿ntty. For rnany, kst year was rn￿h Th)re than just an inconvenience. A lot ol our brethren k)st thèir incornt or their ¥￿sinesses, some sick. and, sadly. some of our k)ved ones passed unio Gksry_ Sty'll. we thank GCKI tor His failhlulne$5, tor the Bible says 'He thai keepeih us never slurlts noT sleep. Psdm 121".4. We as a toartj arwj Church ￿s0 stror*Jty hokj unto His Prornise thai. All things work tO98ther lor good to thern that lova God. Even Ihough it has t•8n one of our hafdesl sea%Jns, the worst time yet. However. it gave us a great 0￿rtunity to seNe rn￿e, give TTL)re. arKJ care more. God truty showed up. a¢￿vating aTh1 growiro laiih. corwbon, and C0￿￿U￿1ty. SOME OF OUR ACHIEVEAAENTS INCLUDE.. 1.PullTrng S￿emS in place to ensure easy processiThJ. tranSpa￿r￿. ar*J acC￿l￿tabIlIty 2. Keeping our Church afloat finanualty by culling costs, ￿￿dIng payment carts to departments, and havin9 t￿hler final￿la1 controts 3. Ending our isolation gradually, so we coukl slart ow 8aTrY anniversaries in J40USE gimng memb8rs the cornlort of ￿rS￿l￿mng in Chu￿kn 4. We conlinue to have Chu¥¢h services in pwson on Sundays with safeguards in p]ace an rnembers who atlen(I continue to do so in a sale envir0nr￿t 5.ln ¢orry)liaw wilh our o14-yW temi of wery HOD. s￿& of (¥Jr departfflenl heads were change(1 successfully 6.ln Com￿lanCe with gLMmm8ni arLI chanty reguLations, we be sulynittw*J rwfinanual accDunts and reports b8for8 lh8 regJlaW due datès foNMd to gNe the board ts.me to concentrate on othw projects. 7.we ereaied a strategic committee cO￿S11r￿j ol varifyJs H(Xls io ¢Jevdop the best way lo ensure the ¢onltnuation of Church SeMce5 ar￿ Vernbpr5 etyJagemgnt during thè kthown e.g. zoom. Proiocol, aThJ c￿lir￿3er￿Y seNice cornmittees. 8.we ¢reaied ¢ommunrties and WFyrwJ in conngcwJ Oltr tsojated merrt>ofs in lellowship. 9.￿r Sunday schwl chibjran, 18en. youth. and young a￿￿$ were ￿Ven p4alfryrr6 to engage, irBr*re and grow 10.Wst of our goi into their unweysity ol C￿￿. wti¥e imFecl the pandemic had on the nation￿ education system 11.our ekler comrnunity were laught to rTK)ve over ￿ virttd plattims. aThl ervaage in vari(HJs programrnes io encourage and mtivate 12.we took advantage of the loGkdown ￿ rènovaiè thè chU￿h aThl ryrove th y￿ue ol our only UK a5se¢. Key HIghl￿ts till date 13. 24n AYONI radio Stslion was launched as part ol wr wis¥)n- Ihs year Cutting costs on the e￿ernal broathasliTrJ This h&% also ￿OU￿h1 more pecple to engage with us dKJitally and increase c¥Jr membets physK¥ly wrth athjing I￿re n*mbers to us. 14. The Board has conyletay payrnent on oriW)￿ Pro￿. awath"r¥J linal delivery ￿7[hIn th8 nexl 3 rnonths. 15. 24n Di￿tal Church started wlh us currenty wnnirg daity 9 am Th1omi￿j D￿tiOn. and"Jesu gbami"_ Ihis year Icurrently we have over 100 pecple engagiro daityl 16. We are currently collatiNJ all our Church p)liues into a Cèrttr￿ de￿￿lIary for easy ielerence- this year Finajly I believe we've been arrint￿ with fresh oil IP5alm 92".101. I bdieve a tresh ￿1 has been pour&J on our Chur¢h duriNJ this difticull brne and this fresh anrynthThJ is gcxng to eary us inlo this season God has for us. A time to rededicate ourSe￿S io Chiist. lo partner vAth ott*r Chrisfran cOmmun￿eS and our youlh aThJ young lake their ￿sItIOnS infbJtr￿ our sorA8ty and ojllure in a Godly mann•v IJN I'm so excited about the fuiure ol New Covenant C&S ch￿h. aTrJ l eanl w•t to see all that Gjd is goSng 10 do in and through us 2021 and further UN. I challengè you all tcxjay to lake up the has gven yw and lake your F¥Jgtw tn your CHURCH and Gc#Ys ￿'ng¢k}M. AyoNi 01 Pastor Ar¥Jel Fal¢se BOT Ch&rman Tlw"s r?￿rt was aFprove(I bythe on 21 July 2021 atKI signod by its order. Mrs Oluwatoyin Falgse Twste8 NEW COVENANT CHEAU8IM & SERAPHIM MOVEMENT CHURCH ( A CHARITABLE COMPANY LIMITED BY GuARATr￿EE> Independent auditor's report to thè members of NEW COVENANT CHERUBIM & SEAAPHIU MOVEIAENT CHURCH Op41ion We have a￿ted the linanck?I statements of NEW COVENANT CHERUBIM & SERAPHIM V￿VEMENT CHLIRGH Ilhe Charilyl for the year ended 31 De￿[nber 2020 whKh com￿lse Ihe Irthne SlalerDpnl. Ihe siaiemern ol COMpTehe￿IYe Intome, the Siaiemem of Financ0 Positim. Ihe Ststefflem ol changes in EquNy and rotss to Ihe finantyd statements. IncludiNJ a susDrrTary of ￿9r¥ll¢an1 a¢c(MJnling ￿)1￿*$. The Iinan¢41 Iramw•York Ihai has been applied in their preparation is applicatrAe law and United ￿ngthrn Accountiry StaTrlards. irk1￿￿1￿g FRS 102 Tr Financial AewrtiNJ Standard applicaue in the UK aTrJ Ihe RepLi1￿ of I￿land. Iunrteo KiThJ(k)rn Gerwally Accefftd Accounting PradKel. In our the statements." give a true and fair View ol sfaie ol the compan￿$ attaits as at31 Oecem￿l 2020 aThJ of rts wdrt foi the year then ended: have been properfy yepared in a¢ctydan¢e hTlh United lfjngth)m Ge*)eralty N£¢epted A¢¢ounting Practice: • have been prepared in acwdance *rth the re(wiremerts of Ihe CLMTrpaThes Act 2(￿6. B8$is of opinlon We ¢ondu¢ied our a￿t in aCCordar￿￿ ￿ Iniematwal Standards on *JJdrtwpJ (UK) IISAS IUK)) and a￿pI￿a￿e Law. C￿r reswn5ibilit*s under those siarKlards a￿ further dexribed in Ihe Auditor'$ responsibililTres for audit of the fi'nanci stalemenis section ol our report. We are ir#8ep￿nt ol the company in accordance wlh lh8 8lhical requirernents that are ielevant to our auoil of Ihe fina￿la1 *aiements In Ihe UK, ind￿11￿ the FRC'S Eth￿￿ Standard. and we have fu1ti118d our olher elhKal rewnsitM'li1￿ in accordance *ilh these requiTemEnts. We telieve Ihal ihe audit ewdence we have obtained is sufficient ar*1 apprwate to a basis lor wr wnion. Conclusions reFaling to going ¢on¢em We have nothing lo rwrt in re5FeCt of the lo1￿￿￿ rnalter5 i) relatitr) to whth Ihe ISAS IUKI rewire us to report to y • the Trusteess. use of the ba$6 of in thg preparat￿n ol th8 ffinanc￿ 5tat8ments is not approprrdte". or the Trusleess have not disdosed in the financi￿ staterywts any tsJ8nbf￿d material uKertaintyes Ihai may cast Slgnil￿ani doubl about the company's ability to cy)ntin￿ to adopl Ihe concsrn basis ol accounkn'Tra for a perKd ol ai least hvelve months from Ihe date the finawal siaiements are a￿￿Orised lor issue. Other Infom￿loN Thg other Ènfom)atw comKW intrmatKJn in Ihe rfj￿rt aThJ finwoal swemenis, ol￿r than I￿orKI siaiernents and our alk11t￿S rewrt thown. The Truslee5 are r•s￿n$￿* f¢r th8 other intormaiion. (Xjr opinion on th• financial stalernenls does rK*t cov8Y Ihe other inlormatHJn and, excepl tts the extent olherwise eWKrtly state(l in our report. we not ewess any fom of a55urarKe condugon I￿reen. In c￿nection with wr ajdil of the fina￿la1 51atefflenls, our resFrf)n5ibilily is lo read Ihe olher inf0r1nat*￿ arKJ. tn Lkn"ng so. consider %thelher Ihe other inlomiaiion is materially Inconsistent with the financia stsiernents ty our kTh)wAeOJe Obtai￿ in Ihe audit or othemse appeats lo b8 maierially missiaieLI. K we thnity maienal in¢onsi*enoes ￿ arvareni materiJ m$sMiements, we are require(S 10 detèrrnine wlT81her Ih8r8 is a rrTaierial misstatement in Ihe finafiual staiements OT a rnaterial misstatemeni of oth&r inlormaiion. 11. basetl on the woik * have pertl￿}80. we c(MKkNle that therg 1$ a maieriab misstalemenl of this Olhgr Inlormalion, we are required to reryjrt that fact. We have nolhing lo iep)rt in llis wegar¢J. Opinions on olher matters pwescr*Jed by the Ctynpanieg Acl 2tyJ6 In our opinion. based on the woth undertakw in the coutse of Ihe aLwJrt". the inlormalion given bll the strategic re￿rt the Trusteess. rer*y1 lor the fina(Kxal year for ￿1¢h the f￿arti $t*ements a￿ syepargd is consistent the liftaTrc4￿ S￿LeMents., aTr th8 slrategr rwrt and Ihe Twsteess. repjrt have been wepared in acctydarKe *ith a0￿le legal requtrernents. NEW COVENANT CHERUBIM & SEAAPHIM MOVEMEpifcHUACH I A CHARITABLE COMPANY LAIITED BY GUARANTEE) Independent ¥udltorf$ report to the members ol NEW COVENANT CHEAUBIM & SEAAPHIM MOVEMENT CHURCH Matlers on which we Are required to report by extepti In Ihe l*Jht ol the krNyAedge and undersiarK1ino of Ihe cLMmpany and it5 en¥Fronment oblwngj in the ￿Urse of Ihe audit. we have nol identif￿￿ material misslaierr￿ts in the stratew rep)rt or the Trus￿$. ferM)rt. Wg have nothiry to rekxjrt in respecr ￿ the mam in rektson 10 v*tiith t1￿ Comp3n*s kl 2trJ6 requires us to report to you il. in our opnion.. • atlequate %couniing records ha¥e not b#•rt keo, or relums a￿l￿te for w a￿lit have rKJl l)een recewed trom bra￿￿ rnl wsiled by us., or Ihe financial slalernents aiE not in agre8rnenl accountyry ￿￿OrdS re￿rri$,. or • certain disth5ure5 of Twsieess. reMU￿ratIoTr ¥£crf￿d ty law are mth" or wè havt not rèceived all Ihe inlom)ati￿ artl èwanaiwts vrt require lor Dur audit." or R¢sponsiblliThts ol Trust•*s As explained rnore fully In the Truste*s' reS￿ns￿li1*S siaterrenf. th• Trustees are reSFrfJn51￿ for the preparaltijn of th• finanrial statements and lor bwr%J satisfied that tw gr¥e a tnje and law wew, a￿1 lor intemal control as the Trus18es iJetertnin$ is necessary to enatd8 the pr8parabon of staternents thai are Ir¢e Irorn materi statemert, %*thether due to fraLKI or er(￿. In preparing Ihe [￿ancIal slalements, the Truslee$ are responsi￿e for a5S8ssir#J the companls atlity 10 continue as a ng ¢on¢em. di￿109￿d, as 4>pI￿a￿e. matters ￿lated 10 Q¢Mro coKein aThJ the Going concem basis of aecounling UTr￿$$ the TvJst*os eilher ¥*end to thè ¢)yww iy ￿ cea5tr opera￿n$. or have no realisDc allgrnatiyo bul 10 do so. Audlloi'$ r*sponslbllHles lor the audbt of Ihe Ilnan¢lal slaten￿nIS Our obje¢iives are to obiain reasonable assvrnrtt atK)ut ￿ether the b￿ar￿181 sta*rnenis as a vthole ar8 freè frorn materia rnisstatement. whethef due 10 traud or eryor. and ts 6sue an atsditor's report thai includes our opinion. Reasonable aSSura￿e is a high level of assurarte, but is not a guarantee that an audit C￿duCted in accordance ISA5 IUKI will always detect a materil rnisstatemont it ewts. KtsstsIern￿is can anse from fraud or error and a eonsidered material il, indivhlually or In the agjregale, they couhj ￿a$oftabty be e%Fecled to influence the economic isions ol users taken basis of Ihese finwK*al siatemenis. A lurth8r ¢kncriplwJn of our r8sp)nyb"Sties lor thp audii ol the fina￿1￿ stsiemerrts is kxaied on Ihe Finaw4 Rep￿.na Council's %%*bsite atwvAv.frc.org.ukJauditowsrespon$itxlilies. This descriFrfion fomis part Df oui a￿J11015 report. Use ol our rnport Thi5 report ￿ rnade sdety to ihe charity's membws. as a iwyjy, in acutdance with Chaptw 3 of Part 16 01 Ihe Companies Aci 2006. Our audit wrk has been uTrJertaken $0 fhat we state to the compan*$ Mel￿r$ those matter5 we ar8 required to slats to Ihem in an auditorfs rewrt and tOT n¢ Of￿ kwJrk￿e. To ihe fullest px¢ert rtrmiiied by law. we do nol acrepi OT assume responsitm.lty lo anyone olh8r Ihan Ihg ¢ompany a￿1 the chariiys rnerrtsrs a5 a tK¥Jy. lor our audil rk. f r this ￿[rf, or lor the O￿niOnS * have formeil. Mr Shevki ehrnel (Senior Slalulory Audrtcfl loi and on behall of SM Hamian Limiied A¢¢ouAtants and Slatulory A￿311(￿5 21 JLAY 2021 261 Green Lane¥ Palrners Gieen London N134XE NEW COVENANT CHERUBIM & SERAPHIM MOVEMENT CHURCH { A CtrIARITABLE COMPANY LIMITED BY GUARANTEE) Income Stalement for the year ended 31 December 2020 Notes 2020 2019 In￿me 302.594 446.878 Administrative expenses 1245.0871 1381.0581 0￿ratIng in¢ome 57.507 65.820 Interesl raceivable Interest payab 2,242 117.8741 7.069 (21.4241 I1￿8 on ordlnary xll¥ltSes bdore tax•llon 41.875 51,465 Tax on prolit on ordinary acliwlies Irbcome for the firwici•l yew 41.875 51,465 NEW COVENANT CHERUBIM & SERAPHIM MOVEMEKf CHURCH { A CHARITABLE COMPANY LIMThED B Y GUARAKfEEI Statement of comprehensive income for the yoar onded 31 December 2020 2020 2019 Net Incorne tor Ihe financlal year 41,875 51.465 Other ¢omprehenslve Income Tot•1 conwrelw$lve incoThYè for the year 41,875 51.465 io NEW COVENAfrrr CHERUBIM & SERAPHIM MOVEMENT CHURCH I A CHARITABLE COMPANY LIMITED B Y GUARATr¥fEEI ststement ol Financial Position as at 31 December 2020 2019 Flxed assets rangible assets Investrnents 2.141.104 2.087,861 25.000 2,112,861 2.141.104 Curr•nt ass¢ts Stocks Debtrys Cash at bar& arKI in hand 2,166 3.482 12,217 443,379 459.078 412.484 Credltors: amounts falling duo wlthln one year 10 1109.6531 {107.727i Net current 351.351 Tolal 8$sets less Current Ilab51itle$ 2.484.756 2.464.212 Credltors: omount* IAlllng du¢ •fter more th•n one year 1526.1811 1547.7231 N•t ass•ts 1.958.575 1.916.489 Capital and rv4erves Unrestricled Funds: General Aeserves RestTlCted Fur￿S- Buil¢JiNJ Maintenartt FuTrJ 12 1.613.447 1,571.572 13 345.128 344,917 Total equlty 1.958.575 1.916.489 Mrs Oluwalown Falese T¥usie8 Apwoved by the b)ard on 21 Juty 2W21 Mr Adeleke Johnson Trustee NEW C0VENA￿r CHERUBIM & SERAPHIM MOVEMENT CHURCH I A CHARITABLE COMPANY LIMrrED B Y GUARANTEE) Statement of Changes in Equity lor Ihe year ended 31 December 2tr20 Unrestrlcted Restrl¢ted Funds Totsl Al l January2019 1.520.107 344.668 1.864,775 Total Received Durirwj ts Year Total Expensed Durir*J the Year 4.917 14.6681 4.917 14.6681 Not Income lor the fina￿181 year 51.465 51,465 At 31 December 2019 1.571.572 344.917 1.916,489 At 1 January2 1,571.572 344,917 1.916.489 Total Receive(J DuriNJ Ihe Year 16.211 16.211 Total Expensed OuriThJ the Year I16.0￿) 116.OCKJI Nel Ir￿L￿ne for Ihe fin￿la1 year 41.875 41.875 At 31 tlee•mber 2020 1.613,447 345.128 1.958.575 12 NEWCOVENAFifciiEIIUBW & SEFIAPHMMOYEMENTCHUllCal I14C￿F￿rP￿LE COIAP•J4Y UMITEDiIYGVAA*NfEEI Noies to Ihè Ac¢ouftts forthe yearended 31 Dtcemb*r2V&I FIX￿1•$. IW$.t(A* I￿j IF w8lw valup canrMA iy Ca51￿ IV￿01￿￿￿￿￿j rfrOs. A¢uirert laz XS&èt￿ in res￿ rd atai knsÉ 1oreLrrt￿I￿￿ Un[vliEved cthEI dvAqrred ty￿￿ts that try t* 4gar& khe or hatthes taY*È rADSts. ved irrfsbTraN prop¥iy lh￿ r¥¢ •A*s *) th• 5* 4t ts a*s¢1 NE¥YCOVEN•Jff CHEFIVBIII & SERAPtrIIA IthEMEKrciwiii>i A¢WIR￿￿LE CCIIPANY UMWIED BY r￿jAR￿AlEEl forth•ytsi •rth131 DAC4fftbw¥ lh• da1to1th•ir4n•￿>j1. ase¢ asstlg 01. tre*esertwakJe IT￿•151￿YnW 987371 4.917 10.rm 18.154 Cante¢n & Irèjry *¢ yieograwmthii.. 2m• 7427P 24.727 21. £M.75QOI9£742 P•$ 14 i A¢￿￿[r**LE C¢)YP•4IY LWITEO OYGIJAH￿EEJ Noteg ts the AC¢0￿1$ lorlhe ￿arenrfe￿ 31 cIEcen￿l0￿b 21.424 TOtsI Arc¢15r stor¥¥lu*ODn Al l Jarwy2 2473* alOIIOI 115.984 425.9&8 At31 tw•rtw20a) 918 2830,621 i Jarvary 44021S 48519 494.n4 615240 5.IriJ 11.1ty) 18.423 179228 31 De¢thYtyt*vai A131 Dr¢rnbpi%WJ At31 Deceprtw2019 10729? 2 141 101 2.(07￿1 At i JaM￿ry1q • OAbte•* 4.744 728$ 28.626 ao 19. 37.33 6.710 12SO 4*196 Yry¢iedrttys A&4ar)Xl 11 erndllllvJ.' BwikKigf6 51$.431 9.79) 526.151 547.7Z3 Wwd (>vthN228GZ. 12 FwbJi 1 Jart4ry Profrt%)rtr•lkqrd4 1571372 I￿.107 31 1.01S.447 ia A•*ir￿1FL￿* Fur 19 At i J4fq¥ry 344J17 16*1 4.917 T¢W E￿r0ed ￿￿￿¥JThovE1r 315.12B 14 yrtylrAn*#lkn 1$ Post 8afanc•Sh••iE¥w tJRS *Jpws. thpitLbth•charyiny gL¢Rr¢ee Er4kn1. 18 PrlncW￿oflwJjk￿* NEW COVENAKf CHERUBIM & SERAPHIM MOVEMEwf CHURCH I A CHARITABLE COMPANY LIMITED BY GUARANTEEI Detailed profit and loss account lor the year ended 31 December 2020 This schedule does not lom) part ol Ihe starutory accotsnts 2020 2019 Incom 302.YJ4 446.878 Administratwe expenses 124S.087) 1381.0581 Operatlng Income 57.507 65.820 lrterest recewalxe Interest payable 2,242 117.874) 7,069 {21.4241 Net In¢ome belorg tax 41.875 51,465 17 NEW COVENANT CHERUBIM & SERAPHIM MOVEMEirr CHURCH { A CHARrrABLE COMPAMY LIMITED BY GuAR￿￿EEl Delalled profit and loss account fow the year ended 31 December 2020 Thi5 schedule does not lofrn part Oftt￿ slatuloryacc(xNts 2019 Income Trthes, CollectKJns and Canteen income Acerued income Rent received 263,594 403.628 4,250 39,000 446.878 39,Ot)O 302,594 Admlnistratlve expenses Purchasas I net ol dguease in stcd() Hall Aerrt Rales Water, Light and Heat Wages and 5alanes Travel and subsistence Motor èxpènsas Telephone and interr*t Stationery, printiThJ and publicatK)ns Evangelism & Missionary expensos Wellare Costs Charitable donal*Jns District & Other Chnjrch SLU Convenlion 8 other evenis ext*nse$ SubscriptM)ns & trainirwJ Bank charges Insurance Audio wsual & t8thni¢J material Equipment hire Rèpairs and maintenar Depreciation Sundry expenses Audit lees Accountancy lees her legal and prole$s￿n31 Investment Wr￿en off 3.651 13.469 5,040 5,994 20,631 56,046 8,682 I,S17 6,213 11,222 20,029 7,960 27,223 23,435 56,268 1.595 13.063 24.727 695 2.907 10,386 4.83S 2.889 10.610 1.751 979 1.190 5.956 5,921 1.538 2.005 14,618 75,992 1.670 5.112 2,810 4,808 39,729 74.277 3,000 4.872 1,248 9,100 25.OCrf) 245.087 381,0SB 18