The New Life In Christ Ministry
Charity No. 1147809
Company No. 06977922
Trustees' Report and Unaudited Accounts For the year ended 31 July 2024
B M Cooper & Co. Limited Chartered Certified Accountants 88 Wood Lane Dagenham Essex RM9 5SL
The New Life In Christ Ministry Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Page 1
The New Life In Christ Ministry Trustees Annual Report
TNLCM
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 July 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 06977922
Charity No. 1147809
Principal Office
Unit 7, Selinas Lane Behind Quilting Ltd Dagenham Essex RM8 1ES
Registered Office
Unit 7, Selinas Lane Behind Abbey Quitling Ltd Dagenham Essex RM8 1ES
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
Bamidele Sinkaiye Olawale Joshua Olayemi Joshua Olufemi Awomolo Oluwakemi Ore
Accountants
B M Cooper & Co. Limited 88 Wood Lane Dagenham Essex RM9 5SL
Bankers
Barclays Bank Plc NatWest Bank
OBJECTIVES AND ACTIVITIES
The purpose of the charity as set out in its governing document is for the benefit of persons in the United Kingdom and worldwide to advance Christian religion; to relieve poverty, sickness and distress; to advance education.
Page 2
The New Life In Christ Ministry Trustees Annual Report
Various activities were undertaken during the year, in relation to these purposes.
FINANCIAL REVIEW
The total incoming resources for the year amounted to £341,007 (2023 - £339,471) and the total resources expended amounted to £368,177 (2023 - £264,923) leaving net deficit for the year of £27,170 (2023 - £74,548). The balance of funds as at 31st July 2024 was £15,725 (2023 - £42,895).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves was not maintained throughout the year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The organisation is charitable company limited by guarantee, incorporated on 31st July 2009 and registered as a charity on 25th January 2012.
Trustees are selected from long standing members of the congregation and people from outside of the church who are familiar with and have an empathy with the Church's objectives. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
New trustees are invited and encouraged to attend training courses led by the chair and also read the guidelines and publications issued by the Charity Commission e.g. ‘The Essential Trustee, copies of which are given to new trustees. Trustees are familiar with the working of the church having been drawn from long-standing church members that have the skill-set to offer an empathy with the charity's core values.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
..................................................................... Olawale Joshua Trustee
09 June 2025
Page 3
The New Life In Christ Ministry Independent Examiners Report Independent Examiner's Report to the trustees of The New Life In Christ Ministry
I report to the charity trustees on my examination of the accounts of The New Life In Christ Ministry for the year ended 31 July 2024 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA.
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the Charities SORP (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
................................................
Mr Bolaji Kalejaiye FCCA ACCA B M Cooper & Co. Limited 88 Wood Lane Dagenham Essex RM9 5SL
09 June 2025
Page 4
The New Life In Christ Ministry Statement of Financial Activities For the year ended 31 July 2024
| Unrestricted | ||||
|---|---|---|---|---|
| funds | Total funds | Total funds | ||
| 2024 | 2024 | 2023 | ||
| Notes | £ | £ | £ | |
| Income and endowments | ||||
| from: | ||||
| Donations and legacies | 4 | 317,969 | 317,969 | 339,244 |
| Other | 5 | 23,038 | 23,038 | 227 |
| Total | 341,007 | 341,007 | 339,471 | |
| Expenditure on: | ||||
| Charitable activities | 6 | 79,878 | 79,878 | 49,866 |
| Other | 7 | 288,299 | 288,299 | 215,057 |
| Total | 368,177 | 368,177 | 264,923 | |
| Net gains on investments | - | - | - | |
| Net (expenditure)/income | 8 | (27,170) | (27,170) | 74,548 |
| Transfers between funds | - | - | - | |
| Net (expenditure)/income before other gains/(losses) |
(27,170) | (27,170) | 74,548 | |
| Other gains and losses | ||||
| Net movement in funds | (27,170) | (27,170) | 74,548 | |
| Reconciliation of funds: | ||||
| Total funds brought forward | 42,895 | 42,895 | (31,653) | |
| Total funds carried forward | 15,725 | 15,725 | 42,895 | |
Page 5
The New Life In Christ Ministry Balance Sheet At 31 July 2024 Company No. 06977922
| Notes 2024 £ Fixed assets Tangible assets 10 4,294 4,294 Current assets Cash at bank and in hand 48,871 48,871 Creditors:Amount falling due within one year 11 (6,531) Net current assets 42,340 Total assets less current liabilities 46,634 Creditors:Amounts falling due after more than one year 12 (30,909) Net assets excluding pension asset or liability 15,725 Total net assets 15,725 The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds 15,725 15,725 Reserves 13 Total funds 15,725 |
2023 £ 5,725 5,725 78,120 78,120 (3,310) 74,810 80,535 (37,640) 42,895 42,895 42,895 42,895 42,895 |
|---|---|
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 09 June 2025
And signed on its behalf by:
...........................................................
Olawale Joshua
Trustee
09 June 2025
Page 6
The New Life In Christ Ministry Notes to the Accounts For the year ended 31 July 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
The New Life In Christ Ministry
Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Motor Vehicles 20% on cost Fixtures, fittings and 25% on written down value equipment
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 8
The New Life In Christ Ministry
Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other 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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 9
The New Life In Christ Ministry Notes to the Accounts
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
| 3 | Statement of Financial Activities - prior year | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | |||
| 2023 | 2023 | |||
| £ | £ | |||
| Income and endowments from: | ||||
| Donations and legacies | 339,244 | 339,244 | ||
| Other | 227 | 227 | ||
| Total | 339,471 | 339,471 | ||
| Expenditure on: | ||||
| Charitable activities | 49,866 | 49,866 | ||
| Other | 215,057 | 215,057 | ||
| Total | 264,923 | 264,923 | ||
| Net income | 74,548 | 74,548 | ||
| Net income before other | ||||
| gains/(losses) | 74,548 | 74,548 | ||
| Other gains and losses: | ||||
| Net movement in funds | 74,548 | 74,548 | ||
| Reconciliation of funds: | ||||
| Total funds brought forward | (31,653) | (31,653) | ||
| Total funds carried forward | 42,895 | 42,895 | ||
| 4 | Income from donations and legacies | |||
| Unrestricted | Total | Total | ||
| 2024 | 2023 | |||
| £ | £ | £ | ||
| Tithes and offerings | 243,017 | 243,017 | 254,915 | |
| Gift aid reclaim | 74,952 | 74,952 | 84,329 | |
| 317,969 | 317,969 | 339,244 | ||
| 5 | Other income | |||
| Unrestricted | Total | Total | ||
| 2024 | 2023 | |||
| £ | £ | £ | ||
| Other income | 9,952 | 9,952 | - | |
| Interest Received | 386 | 386 | 227 | |
| Rent Received | 12,700 | 12,700 | - | |
| 23,038 | 23,038 | 227 | ||
Page 10
The New Life In Christ Ministry
Notes to the Accounts
6 Expenditure on charitable activities
| 6 | Expenditure on charitable activities | |||
|---|---|---|---|---|
| Unrestricted | Total | Total | ||
| 2024 | 2023 | |||
| £ | £ | £ | ||
| Expenditure on charitable | ||||
| activities | ||||
| Church activities and | ||||
| 300 | 300 | 1,090 | ||
| programmes | ||||
| Conventions | 8,311 | 8,311 | 4,393 | |
| Honorarium | 8,153 | 8,153 | 8,967 | |
| Governance costs | ||||
| Accountancy fees | 1,980 | 1,980 | 1,800 | |
| Legal and professional fees | 10,207 | 10,207 | 8,561 | |
| 28,951 | 28,951 | 24,811 | ||
| 7 | Other expenditure | |||
| Unrestricted | Total | Total | ||
| 2024 | 2023 | |||
| £ | £ | £ | ||
| Bank loan and overdraft | ||||
| 844 | 844 | 968 | ||
| interest payable | ||||
| Employee costs | 55,472 | 55,472 | 45,135 | |
| Motor and travel costs | 13,719 | 13,719 | 4,048 | |
| Premises costs | 191,200 | 191,200 | 133,415 | |
| Amortisation, depreciation, | ||||
| impairment, profit/loss on | 1,431 | 1,431 | 1,909 | |
| disposal of fixed assets | ||||
| General administrative costs | 25,633 | 25,633 | 29,582 | |
| 288,299 | 288,299 | 215,057 | ||
| 8 | Net (expenditure)/income before | |||
| transfers | ||||
| 2024 | 2023 | |||
| This is stated after charging: | £ | £ | ||
| Depreciation of owned fixed assets | 1,431 | 1,909 | ||
| 9 | Staff costs | |||
| Salaries and wages | 55,189 | 45,135 | ||
| Pension costs | 283 | - | ||
| 55,472 | 45,135 | |||
| No employee received emoluments in excess of £60,000. |
Page 11
The New Life In Christ Ministry Notes to the Accounts
10 Tangible fixed assets
| 10 | Tangible fixed assets | |||
|---|---|---|---|---|
| Motor | Fixtures, | |||
| Vehicles | fittings and | Total | ||
| equipment | ||||
| £ | £ | £ | ||
| Cost or revaluation | ||||
| At 1 August 2023 | 25,000 | 128,947 | 153,947 | |
| At 31 July 2024 | 25,000 | 128,947 | 153,947 | |
| Depreciation and | ||||
| impairment | ||||
| At 1 August 2023 | 25,000 | 123,222 | 148,222 | |
| Depreciation charge for the | - | 1,431 | 1,431 | |
| year | ||||
| At 31 July 2024 | 25,000 | 124,653 | 149,653 | |
| Net book values | ||||
| At 31 July 2024 | - | 4,294 | 4,294 | |
| At 31 July 2023 | - | 5,725 | 5,725 | |
| 11 | Creditors: | |||
| amounts falling due within one year | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Other taxes and social security | 3,198 | 1,468 | ||
| Other creditors | 189 | - | ||
| Accruals and deferred income | 3,144 | 1,842 | ||
| 6,531 | 3,310 | |||
| 12 | Creditors: | |||
| amounts falling due after more than one | ||||
| year | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Bank loans and overdrafts | 30,909 | 37,640 | ||
| 30,909 | 37,640 | |||
Page 12
Notes to the Accounts 13 Movement in funds
The New Life In Christ Ministry
| 13 | Movement in funds | ||||
|---|---|---|---|---|---|
| Incoming | |||||
| resources | |||||
| At 1 August | (including other |
Resources expended |
At 31 July 2024 |
||
| 2023 | gains/losses) | ||||
| £ | £ | £ | |||
| Restricted funds: | |||||
| Unrestricted funds: | |||||
| General funds | 42,895 | 341,007 | (368,177) | 15,725 | |
| Revaluation Reserves: | |||||
| Total funds | 42,895 | 341,007 | (368,177) | 15,725 | |
| 14 | Analysis of net assets between funds | ||||
| Unrestricted | |||||
| Total | |||||
| funds | |||||
| £ | £ | ||||
| Fixed assets | 4,294 | 4,294 | |||
| Net current assets | 42,340 | 42,340 | |||
| Creditors due in more than one year and provisions |
(30,909) | (30,909) | |||
| 15,725 | 15,725 | ||||
| 15 | Reconciliation of net debt | ||||
| At 1 August | At 31 July | ||||
| 2023 | Cash flows | 2024 | |||
| £ | £ | £ | |||
| Cash and cash equivalents | 78,120 | (29,249) | 48,871 | ||
| 78,120 | (29,249) | 48,871 | |||
| Bank loans | (37,640) | 6,731 | (30,909) | ||
| (37,640) | 6,731 | (30,909) | |||
| Net debt | 40,480 | (22,518) | 17,962 | ||
Page 13
The New Life In Christ Ministry Notes to the Accounts 16 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2024 | 2024 | 2023 | 2023 | |
|---|---|---|---|---|
| Land and | Land and | |||
| Other | Other | |||
| buildings | buildings | |||
| £ | £ | £ | £ | |
| Operating leases with expiry date: | ||||
| Pension commitments | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| The pension cost charge to the company | ||||
| amounted to: | 283 | - |
17 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 14
The New Life In Christ Ministry Detailed Statement of Financial Activities For the year ended 31 July 2024
| Unrestricted | |||
|---|---|---|---|
| funds | Total funds | Total funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Income and endowments from: | |||
| Donations and legacies | |||
| Tithes and offerings | 243,017 | 243,017 | 254,915 |
| Gift aid reclaim | 74,952 | 74,952 | 84,329 |
| 317,969 | 317,969 | 339,244 | |
| Other | |||
| Other income | 9,952 | 9,952 | - |
| Interest Received | 386 | 386 | 227 |
| Rent Received | 12,700 | 12,700 | - |
| 23,038 | 23,038 | 227 | |
| Total income and endowments | 341,007 | 341,007 | 339,471 |
| Expenditure on: | |||
| Charitable activities | |||
| Church activities and programmes | 300 | 300 | 1,090 |
| Conventions | 8,311 | 8,311 | 4,393 |
| Evangelism | 2,280 | 2,280 | 2,020 |
| Honorarium | 8,153 | 8,153 | 8,967 |
| Mission work | 1,000 | 1,000 | - |
| Welfare and hospitality | 12,665 | 12,665 | 6,824 |
| Music and instrumentalist | |||
| 34,382 | 34,382 | 16,211 | |
| expenses | |||
| Publicity | 600 | 600 | - |
| 67,691 | 67,691 | 39,505 | |
| Governance costs | |||
| Accountancy fees | 1,980 | 1,980 | 1,800 |
| Legal and professional fees | 10,207 | 10,207 | 8,561 |
| 12,187 | 12,187 | 10,361 | |
| Total of expenditure on charitable activities |
79,878 | 79,878 | 49,866 |
| Other expenditure | |||
| Bank loan and overdraft interest | |||
| 844 | 844 | 968 | |
| payable | |||
| 844 | 844 | 968 | |
| Employee costs | |||
| Salaries/wages | 55,189 | 55,189 | 45,135 |
| Pension costs | 283 | 283 | - |
| 55,472 | 55,472 | 45,135 | |
| Motor and travel costs |
Page 15
| The New Life In Christ Ministry | |||
|---|---|---|---|
| Detailed Statement of Financial Activities | |||
| Vehicles - General costs | 13,719 | 13,719 | 4,048 |
| 13,719 | 13,719 | 4,048 | |
| Premises costs | |||
| Rent | 118,891 | 118,891 | 116,394 |
| Light, heat and power | 14,310 | 14,310 | 8,782 |
| Premises cleaning | 800 | 800 | 1,246 |
| Premises repairs and maintenance |
57,199 | 57,199 | 6,993 |
| 191,200 | 191,200 | 133,415 | |
| General administrative costs, | |||
| including depreciation and | |||
| amortisation | |||
| Depreciation of Motor Vehicles | - | - | - |
| Depreciation of Fixtures, fittings and equipment |
1,431 | 1,431 | 1,909 |
| Bank charges | 1,005 | 1,005 | 1,277 |
| General insurances | 2,253 | 2,253 | 1,230 |
| Information and publications | 150 | 150 | 110 |
| Software, IT support and related | 949 | 949 | 200 |
| costs | |||
| Stationery and printing | 11,141 | 11,141 | 11,558 |
| Sundry expenses | 6,117 | 6,117 | 11,728 |
| Telephone, fax and broadband | 4,018 | 4,018 | 3,479 |
| 27,064 | 27,064 | 31,491 | |
| Total of expenditure of other costs | 288,299 | 288,299 | 215,057 |
| Total expenditure | 368,177 | 368,177 | 264,923 |
| Net gains on investments | - | - | - |
| Net (expenditure)/income | (27,170) | (27,170) | 74,548 |
| Net (expenditure)/income before other gains/(losses) |
(27,170) | (27,170) | 74,548 |
| Other Gains | - | - | - |
| Net movement in funds | (27,170) | (27,170) | 74,548 |
| Reconciliation of funds: | |||
| Total funds brought forward | 42,895 | 42,895 | (31,653) |
| Total funds carried forward | 15,725 | 15,725 | 42,895 |
Page 16