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2025-03-31-accounts

NEW LIFE CHURCH, TEESSIDE

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2025

REGISTERED COMPANY NUMBER 07920190 REGISTERED CHARITY NUMBER: 1147241

NEW LIFE CHURCH, TEESSIDE

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31st MARCH 2025

Page
Report of the Directors 2
Report of the Independent Examiner 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 12

1

NEW LIFE CHURCH, TEESSIDE

REPORT OF THE TRUSTEES

YEAR ENDED 31st MARCH 2025

The Directors present their annual report and the unaudited accounts for the year ended 31[st] March 2025. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s governing document, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective 1[st] January 2015.

Reference and administrative information

Charity name: New Life Church, Teesside Charity registration number: 1147241 Company registration number: 07920190 Registered office and operational address: Low Grange Avenue Billingham TS23 3DP

Trustees

David Luke Taylor Senior Minister – Chair George Clifford Henderson Senior Minister Christopher David Parker Senior Minister Alan Coyle Elder Stephen Marwood Trustee Ian Cornforth Trustee Paul Whittingham Secretary

Independent Examiner

Mr J Gresham FCCA, Gresham & Gale, 14 Fountain Street, Guisborough, TS14 6PP.

Bankers

Virgin Money, 46 High Street, Stockton TS18 1SB

Kingdom Bank, Ruddington Fields Business Park, Mere Way, Ruddington, Nottingham, NG11 6JS

Lloyds Bank, Albert Road, Middlesbrough, PO Box 1000, BX1 1LT

2

NEW LIFE CHURCH, TEESSIDE

REPORT OF THE TRUSTEES

YEAR ENDED 31st MARCH 2025

Structure, Governance and Management

Governing document

The organisation is a registered charity, governed under a Memorandum and Articles of Association. The charity was incorporated on 23[rd] January 2012 and registered as a charity on 14[th] May 2012.

Recruitment and appointment of the Trustees

The Directors are called the Church Leadership. The Church Leadership governs the Church. The Memo & Arts provides for the membership of the Leadership to be the Minister together with the duly appointed or elected leaders of the Church, whose names and addresses are entered in the Church records. The minimum number on the Church Leadership is three. During the year the Church Leadership consisted of the Trustees set out on page 2.

Trustee Induction and Training

Before appointment potential Directors will attend Leadership meetings as observers to acquaint them with the obligations of Directors under charity law. They are supplied with up-to-date financial information and other documents such as the most recent accounts and a copy of the Memo & Arts. All Directors are encouraged to attend appropriate external training events which will facilitate their role.

Risk management

The Church Leadership, together with elected Departmental Leaders have examined the major risks which could affect individual departments or the charity as a whole and have developed and implemented procedures to minimise these risks as far as possible. Risk management is a proactive activity developing with the growth of the charity.

The Directors monitor progress against budget and objectives and review their strategic objectives at their regular meetings.

Organisational Structure

The Directors are responsible for administering the charity and for its strategic direction. The day to day running of the charity is delegated to the management team.

Related parties

The charity does not have any related parties other than the Directors and their immediate families.

3

NEW LIFE CHURCH, TEESSIDE

REPORT OF THE TRUSTEES

YEAR ENDED 31st MARCH 2025

Objectives, activities, achievements and performance

Basis and Values

New Life Church, Teesside is a church in fellowship with the Assemblies of God . It’s values are found in the Christian faith and are actioned through the adoption of the Assemblies of God Model Trust Deed.

Objects of the Charity

The objects of the Church are described in the model trust deed as ‘the proclamation of the Gospel of Jesus Christ,’ The Mission Statement serves this object in the New Life Church, Teesside.

Mission/Vision Statements

Mission

New life Church, Teesside is a Pentecostal Church based in several locations in the Tees Valley.

The Mission of New Life Church, Teesside is to:

Go and make disciples of all in Teesside, the surrounding area (and of course the nations), baptising them in the name of the Father and of the Son and of the Holy Spirit, teaching them to observe all that Jesus has commanded us. We must go in the power of His Holy Spirit just as He promised that He is with us always, to the end of the age. (Taken from Matthew 28:19,20).

Vision

2 Peter 3:9 says:

The Lord is not slow to fulfil his promise as some count slowness, but is patient toward you, not wishing that any should perish, but that all should reach repentance.

Therefore it is our Vision that none in Teesside and the surrounding area should perish, but that every man woman and child shall come to repentance and faith in Jesus. Through preaching the gospel and working with other Christians in the area, it is our heartfelt desire to see this goal realised.

We believe the church is here to ‘Make a Difference’ within the local community and in the furtherance of these objects has a pro-active community-based outreach programme providing the following services to the local community.

The church provides a spiritual home to a congregation of approx. 130 people. The regular weekly activity of the church is as follows:

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

4

NEW LIFE CHURCH, TEESSIDE

REPORT OF THE TRUSTEES

YEAR ENDED 31st MARCH 2025

Activities and achievements during the year

Billingham

It has been an active and busy year of the church.

The Invitations Sundays are going very well - we have had several now - the first one in April and a BBQ event over the summer that was well attended.

Men’s breakfasts have grown and now meeting in the hall. We are getting around 40 now. We also hosted a great Men’s conference in September.

Our Centre Manager Paul retired in this year, so we have seen a handing on of many of his responsibilities, such as health and safety. He remains in role as treasurer and church secretary. Michele Smith (Day Care Manager) has taken on a lot of his responsibilities at the family centre including overseeing the finances.

The house plants did not really take off, so Life + will take a bit of time off and hopefully will return in another form.

In our Mid weeks we have had focused times of teaching series - including the 5 Sermons of Jesus, debates and panels, and some in depth studies of several books of the bible, starting with Ephesians and a great series on winning souls.

Our Women’s Gatherings have been growing and we have had a Ladies conference come out of it.

This season we were involved in the Teesside churches together event “Festival Teesside” and were used to host one of the training sessions for friendship evangelism.

Our Spring and Christmas fairs continue to bring good numbers in.

Our Sundays have had a “character” and “Witnessing” focus. We had a teachings series on the fruit of the spirit, one on evangelism - both of which spoke to issues people deal with every day.

We have had a Porta Cabin donated that we’ve raised funds to furnish and now it is available as a creche for Children and their parents on Sundays. A huge thank you to the person who donated this and all who were involved in the fundraising.

We invited Billingham Silver Band back to play at our Carol Service and the event was a great success. We plan to have them once again next Christmas.

In March we had our first Spiritual Health Weekend - a focused time of ministry away. It was well attended and successful. It may not be an annual event but we ai to do it again.

Stockton (Now Billingham PM)

This meeting is now settled in our Main building but still has its own identity. Pastor Chris is doing a great job of letting this meeting be a place where people can grow into leadership roles and we see many of the congregation stepping out in new ways.

Hartlepool

We have seen growth in this new venue at Owton Manor and we are very grateful to the Baptist church for allowing us to use their space.

5

NEW LIFE CHURCH, TEESSIDE

REPORT OF THE TRUSTEES

YEAR ENDED 31st MARCH 2025

Children's Work

Our Children’s work has seen a great deal of growth with new families coming into the church and is thriving. We thank Lisa Lazell for heading this work. We have seen new people coming to the church as a result of the Monday night drama and it is doing a great job as a way of reaching unchurched young people.

Family centre

The Family Centre and Day Care Nursery continue to provide high quality day care at an affordable price for the community and numbers of children attending throughout the year has been encouraging.

The NHS Physio Community Service is still being offered from the Centre.

We are delighted to have commenced partnership with The Bread And Butter Thing , providing food at a reduced price open to all in the community. This has proved to be very popular and we are currently serving up to 80 people per week. This has also seen an increase in people volunteering to run this group.

Day Care provided Christmas Hampers to some of our parents (of the children who attend nursery) who are suffering financial deprivation

Parent & Toddler Group, Oasis and the Children’s Work from the church are running their activities within the Centre each week, as well as the Men’s Breakfast Group, Men’s Honour Bound Meetings and the Ladies Gatherings are also using the Centre for their activities. In addition, Old Billingham Craft Group continue to rent a room each week for their activities.

Summary

We spent a lot of time this year focusing on evangelism and the great commission. We hope that this will lead to many seeds planted in lives.

The three words I believe God gave us for 2025 were - Hope, Truth and Light . And it’s been the aim for us to be those things to the people around us.

Luke Taylor Senior Minister

6

NEW LIFE CHURCH, TEESSIDE

REPORT OF THE TRUSTEES

YEAR ENDED 31st MARCH 2025

Financial review

The Statement of Financial Activities on page 9 of these financial statements details all incoming and outgoing resources during the year. The charity was in surplus of £66,604 this year.

Reserves Policy

The Church Leadership have reviewed the reserves policy and have determined that the charity should maintain free reserves which equate to approximately 12 weeks of unrestricted expenditure, currently around £133,900. Free reserves are those unrestricted reserves not committed or invested in tangible fixed assets. At 31st March 2025 free reserves were £109,581.

Investment Policy

The Church Leadership has agreed an investment policy that identifies common investment funds which are appropriate to charities. Any surpluses of funds are kept on deposit with the Kingdom Bank.

Statement of Trustees’ Responsibilities

The trustees, who are directors of the charity for the purposes of the Companies Acts, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the 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:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board of Trustees on 16[th] December 2025 and signed on its behalf by:

Luke Taylor

Trustee

7

Independent Examiner's Report to the Trustees of New Life Church, Teesside

I report on the accounts of the charity for the year ended 31[st] March 2025 which are set out on pages 9 to 19.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Certified Accountants.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

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:

have not been met; or

Mr J Gresham FCCA Gresham & Gale

14 Fountain Street Guisborough TS14 6PP

8

NEW LIFE CHURCH, TEESSIDE

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT)

YEAR ENDED 31st MARCH 2025

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2025 2025 2025 2024
Income Notes £ £ £ £
Donations and legacies 167,478 - 167,478 140,379
Income from charitable activities
Fees and other income received 2 474,644 - 474,644 412,665
Investment income & interest 4,705 - 4,705 3,450
______ ______ ______ ______
Total incoming resources 646,827 - 646,827 556,494
______ ______ ______ ______
Expenditure
Expenditure on charitable activities 580,223 - 580,223 505,092
______ ______ ______ ______
Total expenditure 3 580,223 - 580,223 505,092
______ ______ ______ ______
Net income and net movement
in funds for the year 66,604 - 66,604 51,402
Total funds brought forward 217,837 4,818 222,655 171,253
Movement in Revaluation reserve - - - -
______ ______ ______ ______
Total funds carried forward 284,441
______		 4,818
______		 289,259
______		 222,655
______

The Charity had no other gains or losses other than the net incoming resources for the year.

The notes on pages 12 to 19 form part of these financial statements.

9

NEW LIFE CHURCH, TEESSIDE

BALANCE SHEET

YEAR ENDED 31st MARCH 2025

2025 2024
Notes £ £ £ £
Fixed Assets
Tangible assets 7 174,860 168,832
Current assets
Debtors 8 13,217 15,561
Cash at bank & in hand 209,091 172,702
______ ______
Total current assets 222,308 188,263
Creditors: amounts falling
due within one year 9 (63,841) (82,406)
______ _____
Net current assets 158,467 105,857
______ ______
Total assets less current liabilities 333,327 274,689
Creditors: amounts falling due
after more than one year 10 (44,068) (52,034)
______ ______
Net assets 289,259 222,655
______ ______
Capital and Reserves
Unrestricted funds
General fund 12 160,466 150,132
Designated funds 12 123,975 67,705
______ ______
Total unrestricted funds 12 284,441 217,837
Restricted funds 12 4,818 4,818
______ _
Total funds 289,259
______		 222,655
______

10

NEW LIFE CHURCH, TEESSIDE

BALANCE SHEET

YEAR ENDED 31st MARCH 2025

For the year ending 31[st] March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

These accounts have been prepared in accordance with the provisions applicable to the small companies’ regime.

Approved by the Board of Trustees 16th December 2025 and signed on its behalf by:

Luke Taylor

Trustee

The notes on pages 12 to 19 form part of these financial statements.

11

NEW LIFE CHURCH, TEESSIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

1) Accounting Policies

Charity information

New Life Church Teesside is a private company limited by guarantee incorporated in England and Wales. The registered office is Low Grange Avenue, Billingham, TS23 3DP.

Accounting convention

These accounts have been prepared in accordance with FRS102 “The Financial Reporting Standard applicable in the UK and Ireland’ (“FRS102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for Charities applying FRS102 and UK Generally Accepted Accounting Practice as it applies from 1[st] January 2015. The charity is a Public Benefit Entity as defined by FRS102

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

The accounts have been prepared under the historical cost convention modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Charitable Funds

Unrestricted funds are available for use at the discretion of the trustees in the furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of restricted funds are set out in the notes to the accounts.

Designated funds are unrestricted funds which have been allocated by the trustees for a particular purpose.

Incoming Resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that the income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions require the deferral of the amount. Income tax recoverable in relation to donations received under gift aid or deeds of covenant is recognised at the time of donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of VAT and other sales related taxes.

12

NEW LIFE CHURCH, TEESSIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

1) Accounting Policies (continued)

Tangible Fixed Assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Furniture, Fixtures and Equipment Minibus

10% per annum 25% per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the net income for the year.

Recoverable amount is the higher of fair value, less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than the carrying amount, the carrying amount of the asset is reduced to the recoverable amount immediately in income/expenditure for the year, unless the relevant asset is carried in at a revalued amount, in which case the impairment loss is treated as revaluation decrease.

Recognised impairment losses are reversed if and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined if no carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as revaluation increase.

Basic Financial Assets

Basic financial assets which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and subsequently carries at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Financial assets classified as receivable within 1 year are not amortised.

Basic Financial Liabilities

Basic Financial Liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within 1 year are not amortised. Debt instruments are subsequently measured at amortised cost, using the effective interest method.

13

NEW LIFE CHURCH, TEESSIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

Derecognition of financial liabilities

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

Transition to FRS102

The entity transitioned to FRS102 on 1[st] April 2015, there were no transitional adjustments required.

CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

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

The estimates and associated assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision effects only that period, or in the period of revision and future periods where the provision effects both current and future periods.

2. Income

Income from charitable activities

Income from charitable activities
Unrestricted Restricted 2025 2024
Fees and other income £ £ £ £
Day care and other departments 474,644 - 474,644 412,665
______ ______ ______ ______
474,644
______		 -
______		 474,644
______		 412,665
______

.

14

NEW LIFE CHURCH, TEESSIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

3. Total Resources Expended

Expenditure on Charitable Activities

Expenditure on Charitable Activities
Basis of Charitable Governance
Allocation Costs costs 2025 2024
Total Total
Costs directly allocated
to activities £ £ £ £
Staff costs Direct 376,345 - 376,345 331,659
Travel & training Direct 5,378 - 5,378 4,482
Independent Examiner’s Fee Direct - 2,052 2,052 2,154
Direct charitable costs Direct 17,111 - 17,111 13,574
Depreciation Direct 2,471 - 2,471 2,471
Support costs allocated to
activities
Staff costs Time 42,460 4,718 47,178 40,203
Premises Costs Usage 46,040 5,116 51,156 50,116
Other admin costs Usage 70,679 7,853 78,532 60,433
────── ────── ────── ─────
560,484 19,739 580,223 505,092
═════ ════ ═════ ════

In the current year no expenditure related to restricted funds.

4. Net incoming resources for the year

This is stated after charging:
Depreciation
Trustees’ remuneration and benefits (see below)
Independent examiner’s fee		 2025
£
2,471
51,530
2,052
______		 2024
£
2,471
44,282
2,154
______

Remuneration of £44,717 (2024: £38,548) was paid to Luke Taylor who is the Pastor . The constitution requires the Pastor to be a Trustee.

Remuneration of £2,197 (2024 £1,896) was paid to Mrs O Henderson who is the wife of G C Henderson the previous pastor

Pension contributions of £4,616 (2024: £3,838) in respect of the pastor Luke Taylor.

15

NEW LIFE CHURCH, TEESSIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

2025 2024
5. Staff Costs £ £
Wages and salaries 383,198 339,150
Social security costs 23,653 18,815
Pension costs 16,672 13,898
______ ______
423,523
______		 371,863
______
No employee received emoluments of more than £60,000 in either this year or last year.
2025 2024
The average number of employees was:
Direct charitable activities 20 19
Administration 2 2
_____ _____
22 21

6. Taxation

No provision has been made in respect of taxation, as the charity is exempt from tax on its charitable activities.

7. Tangible Fixed Assets

7. Tangible Fixed Assets
Furniture, Plant & Total
Property Equipment
£ £ £
Cost or valuation
At 1st April 2024 160,000 91,599 251,599
Additions 8,499 - 8,499
Disposals - - -
______ ______ ______
At 31st March 2025 168,499
______		 91,599
______		 260,098
______
Depreciation
At 1stApril 2024 - 82,767 82,767
Eliminated on disposal - - -
Charge for the year - 2,471 2,471
______ ______ ______
At 31st March 2025 - 85,238 85,238
______ ______ ______
Net book value
At 31st March 2025 168,499 6,361 174,860
______ ______ ______
Net book value
At 31st March 2024 160,000
______		 8,832
______		 168,832
______

16

NEW LIFE CHURCH, TEESSIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

7. Tangible Fixed Assets (continued)

The freehold land and buildings in Billingham were valued by North East Commercial Property Limited on 7[th] March 2023 following completion of the building work at a value of £160,000. The trustees feel that this valuation is appropriate for inclusion in the accounts.

8. Debtors
Trade debtors
Prepayments and other debtors

All debtors are receivable within one year.
9. Creditors: amounts falling due within one year
Other creditors and accruals
Social security and other taxes
Loan (see below)
Deferred income
10. Creditors: amounts falling due after more than one year
Loan (see below)		 2025
£
13,217
-
__
13,217
_
2025
£
7,270
5,875
1,316
49,380

63,841

2025
£
44,068

44,068
__		 2024
£
15,561
-
______
15,561
__
2024
£
7,469
3,987
1,717
69,233
____
82,406
__
2024
£
52,034
_
52,034
___

In the year ended 31[st] March 2022, the charity took out a loan of £72,000 to refurbish the building in Billingham which is used as a church. The loan is repayable in monthly instalments over 20 years at a variable interest rate. The balance due after more than one year is as follows:

Due in 2-5 years
Due after 5 years		 2025
£
6,744
37,324
__
44,068
____		 2024
£
8,630
43,404
__
52,034
____

17

NEW LIFE CHURCH, TEESSIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

Unrestricted Restricted Restricted Total
Funds Funds Funds
11. Analysis of net assets between funds £ £ £
Tangible fixed assets 174,860 - 174,860
Net current assets 153,649 4,818 158,467
Creditors: amounts falling due after more than 1 year (44,068) - (44,068)
______ ______ ______
284,441 4,818 289,259
______ ______ ______
12. Movement in funds
At 1st Other At 31st
April Incoming Resources Revalu- March
2024 Resources Expended Transfers ation
2025
£ £ £ £ £
£
Unrestricted funds
General funds 150,132 137,387 (127,054) - - 160,466
______ ______ ______ ______ ______ ______
Total general funds 150,132 137,387 (127,054) - - 160,466
______ ______ ______ ______ ______ ______
Designated funds
Day care & Family Centre 6,296 468,156 (442,445) - - 32,007
Property trust investment fund 50,725 - - - - 50,725
Vision 3,397 31,930 - - - 35,327
Youth 232 108 (98) - -
242
Outreach 1,878 4,237 (5,424) - -
691
Coffee bar 1,116 - (972) - -
144
Foodbank - 590 (615) - -
(25)
Prayer for Israel 910 2,040 (2,500) - -
450
Parent and toddler 2,441 785 (253) - -
2,973
Oasis 760 1,554 (862) - -
1,451
Childrens department (50) 40 - - -
(10)
______ ______ ______ ______ _____ ______
Total designated funds 67,705 509,440 (453,169) - - 123,975
______ ______ ______ ______ _____ ______
Total unrestricted funds 217,837 646,827 (580,223) - - 284,441
______ ______ ______ ______ ______ ______
Restricted Funds
Sensory room 4,818
 - - - - 4,818
______ _____ ______ ______ __ __
Total restricted funds 4,818 - - - - 4,818
______ ______ ______ ______ ______ ______
Total Funds 222,655 646,827 (580,223) -
-		 280,259
______ ______ ______ ______ ______ ______

18

NEW LIFE CHURCH, TEESSIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

13. Purpose of designated funds

The various designated funds are used to administer the activities after which they are named. This keeps them separate from the more general running of the Church and Centre as designated cost centres.

19