NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people New Covenant Fellowship Church (A company limited by guarantee) Annual Report and Financial Statements For the year ended 31st October 2023 Charity number: 1147874 Company number: 7810922 Al Annual Report and Financial Statements-yeèr endinR 31-' Odober 2023
NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people New Covenant Fellowship Church la company limited by guarantee) Annual Report and Financial Statements For the year ended 31" Ortober 2023 Contents Page Reference and Administrative Information Management Committee Report Responsibilities of the Management Committee Independent Examiner's Report Statement of Income and Retsined Earnin8S Statement of Financial Position (Balance Sheet) Notes to the Financial Ststements Detailed Income Statement Notes to the Detailed Income Statement A3 A4 A8 io AnTrual Report and Fina•¢ial 5taiements-yearending 31." 0(lober 2023
NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people Reference and Administratlve Infonnation New Coveftant Fellowship Church (NCFC) The Trustees present its Management Committee Reportand independently examined financial statements for the year en(led 31" October 2023. Reference and Admlnlstratlve Informatlon Charity Name: New Covenant Fellowship Churth 1147874 Charity Registration Number: Company Registration Number= 7810922 Registered Office.. 28 Whipperley Way, Luton. LUI 5LG Operational Address: Kestin House, 45 Crescent Road. Luton, LU2 OAH Management Commlttee IBoard ofTruslees) Mr J Henrique dos Santos Mrs I dos Santos Mrs S Graham- Chair DrSJ Pam Mr N Lannap Ms B Mutema Treasurer: Mr D Graham Independent Examlner ofAccounts- MrA Hickman. Accountant. Guy¥ers, Patmore End, Ugley, CM22 6JA Banker5- HSBC, 63 George Street, Luton, LUI 2AR A3 Annual Repon and Finan¢ial 5taiemenis-yeèr endiTrg 31-' Ocrober 2023
NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people Management Committee Report Strurture, Governance and Managemeni Governin Document New Covenant Fellowship Church INCFCI is a charitable Company lirnited by guarantee. It was incorporated on 14, Ortober 2011 and registered as a charity on 28, June 2012. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10. Retruitment and a ointment of the Mana ement Committee The Directors of the company are also the charity trustees for the purposes of charity law and under the companvs Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Article5 of Association, Directors continue in office until they resi8n, are removed or pas5 awèv. As and when new members are required. potential candidates will be identified base(i on their skllls, experience and involvement with NCFC. The Management Committee seek5 to maintsin a range of appropriate or8anisational and business skills on the committee. Due to their oversight and responsibilty for the Children's Mlnistry. the Management Committee undertake a Disclosure and Barring Service IDBSI check. J Henrique dos Santos and Ivanilde dos Santos are both members of the Management Committee and Pastors of the church. J Henrique dos Santos and Ivanilde dos Santos are remunerated by the church for their roles as Pastors and are also permitted to be members of the Management Committee in accordance with the Memorandum and Articles of Association and by the Charity Commission. No other members of the Management Committee were remunerated. One member of the Management Committee received a benefitfrom the charity in the capacity of a beneficiary of the charity, as per article 6 la) of the Articles of Association. Trustee induction and trainin During 2022-2023, no new trustee5 were appointed to the Board. All Trustees continued to be familiar with the work and life of the church and some held positions of responsibility within the church in addition to being a Twstee le.g. as a home group leaderl. A4 Annual Report arid Financial 5t3tements-year endiTrg 31.. October 3023
NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people Potential new Trustees will be provided with informèts.on on the roles and responsibilities of Trustees as part of an inFtial scoping conversation. The information will include previous minutes and company d¢xuments le.g. Annual Reports). Potential candidates will need to successfullv pass an interview process involving the Chair and other Trustees before being appointed. Risk Mana ement The Management Committee previously COfTrsidered the major risks to which the charity is exposed and identified mitigating actions in pl?ce to overcome these risks. anisational Strutture Six members served on the NCFC Board of Trustees during 2022-2023. The Board can be expanded ès the tharity requires. The Trustees meet approximately four times a year and they Cover the financial and administrative matters of the eharity. The Trustees have a mixture of Christian, charity and professional backgrounds relevant to the work of NCFC. The spiritual leadership of the church has been delegated to the Pastors by the Trustees. Consequently, the Pastors are responsible for setting the spiritual direction for the church. To support the Pastors. the church has a Pastor Support Group who support the Pastors in spiritual and leadership matters. The Pastor Support Group also oversee or support various functions within the church. Decision-makin rocesses NCFC has a number of decision-making processes in place to ensure that decisions are made in accordance with the aims and objectives of the charity and ensure good financial management. The key decision-makin8 processes in place are as follows.. l. Spiritual matters- delegated to the Pastors. 2. Financial matters expen(iiture up to £200 can be carried out independently by the Pastors. Expenditure over £200 has to be agreed by the Trustees. 3. Governance matters-carried out by the Trustees. AS nual keport and Financjal Statement5- yeai enrfine 31 . October 2023
NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people Related Parties The charity is affiliated to New Covenant Fellowship in Brazil Ilgreia Evangelica Nova Aliancal. It is also supports a number of Christian charities and outreach projects including Compassion UK and Open Doors. Financial Review and Reserves The church receives its funding from tithes. offerings. donations given by members of the congregation, events income and gift aid. The church's income remained broadly in line with the previous year, with income at £74.35012021-22.. £73.506). NCFC airns to hold sufficient unrestricted funds not designated or invested in fixed assets li.e. 'free reserves") to meet three months expected committed expenditure. In 2022-23, the charity had sufficient reserves to meet this level of expenditure. NCFC will continue to hold this level of reserves and take mitigating artions accordingly if reserves were to dip below this level. Objectives and Actlvitles Pur New Covenant Fellowship Church is a registered charity and a company limited by guarantee. The charItS objects containe(J in the company's Memorandum of Association are: To advance the Christian faith for the public benefit. The church has an overarching goal to 'make Jesus too big to ignore., The church's vision and mission is based on seven key principles which govern the priorities and focus of the church. The seven key principles are: 11 Love God 21 Love people 31 Live according to the Word of God (the Holy Biblel 41 Live in the power of the Holy Spirit 51 Live a life of holiness 61 Live a life of freedom 71 Live a life of revelation The Trustees have regard to the Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant and take this into account when planningthe A6 AnnuAI Repory and Financ1 SlaterTrents- year ending 31 Octobef 2023
NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people activities and focus for the year. The church continued key artivity to help fulfil its purpose and mission. Performance and Achievements The church continued to develop its activitie5 during the year through core activity (including church services, prayer meetings and discipleship) and developing new areas which helped to increase its impact and growth. Activitie5 includes: Main Sunday daytime service - Sunday services took plate throughout the year in- person (with an online presence). The services incorporated vibrant worship, teaching, preaching and prayer. The Sunday services were open to all church and non-church members. Portuguese service - a Sunday evening service was started for Portuguese-speaking people whlch helped to provide fellowship, teachin8 and discipleship. Young adults 11841- 'As One, 8roup - this continued for part of the year with 8¢d attendance. This came to a Close after the coordinators moved back oversea5, however the group will be resumed in the future. Children's artivities- these continued throughout the year with just a small number of children. Cell groups - the weekly meetings of smaller groups of church members took place throughout the year. Three groups met in person and onegroup met online and proved to be invaluable for providing fellowship, spiritual growth, accountability and support. Prayer, intercession and healing services- these continued throughout the year. Structured bible readin8 plan. Encounter with God (inner healing conferencel-tsvo conferences took place during the year which were well attended and had excellent feedback. Other outreach activity- e.g. street evangelism, a self-esteem course, men's fellowship event5 le.g. breakfasts, barbecue) and women's fellowship events (breakfast, afternoon tea, preparation for a women's conference). The church continued to develop its social ffledia presence and thi5 grew significantly during the year, developing an established online presence on key social media platforms such as Instagram and Facebook. A7 Annual RepDrt and FIDanrial Slatement5- year ending 31 October 202
NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people During the financial year. the church continued to support missionary attivity within Igreja Evangelica Nova Alianca, 8razil (with funds transferred retrospectively after the year-end each yearl. The church also supported mission work in Rwanda, Thailand and Turkey. It continued to sponsor children through the charity, Compassion UK. NCFC supported the international charity, Open Doors, which provides support to persecuted Christians. Plans for Future Periods NCFC will continue to fulfil its mission and vision of loving God, loving people and making Jesus too big to ignore. It will continue to develop its social media presence and maintain its focus on outreach, teaching, intercession, prayer support, discipleship, fellowship and missionary support. Responslbilltles of the Management Committee Company law requires that the Management Committee prepare a Management Committee Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applitable to charities in England and Wales requires the Trustees (Management Committee) to prepare financial statements which give a true and falr view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and applications of resources, including income and expenditure, for the financial year. In preparing those financlal statements. the Management Committee are required to.. select suitable accounting policies and then apply them consistentlv: observe the methods and principles in the Charities SORP,. make judgments and estimates that are reasonable and prudent: stste whether applicable accounting standards have been followed, subjert to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Management Committee is responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the ¢harity and enable Annual Report aTrd Financial StAterneTris- year ending 31 . 0(tober 2023
NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people them to ensure thatthe financial ststements complywith the Companies Act 1985. the Financial Reporting Standard for Smaller Entities, the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2IM and the provisions of the trust deed. The Management Comrnittee is also responsible for safeguarding the assets of the charitsble company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Members ofthe Mana ement Committee Members of the Management Committee, who are Dirertors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report, are set out on page A3. Donald Graham continued to serve as a treasurer but does not serve as a trustee. In accordance with company law, as the company's directors, we certify that.. 50 far as we are aware, there is no relevant information of which the ¢ompanVs Independent examiner of accounts is unaware,. as the directors of the company we have tsken all the steps that we ought to have tsken in order to make OLrrselves aware of any relevant information and to estsblish that the charitvs independent examiner of accounts is aware of that information. Inde dent Examiner of Accounts Mr A Hickman appointed as the charitsble companfs accountant and independent examiner of the accounts. The Trustees consider that an audit is not required fof this year and that an Independent Examination is needed las per the conditions set out in the Charities Act 20111. Approved by the Management Committee on LS(o>lL* and signed on its behalf by: Mrs S Graham {Dlrector) A9 Annual Report and Financial sioiement5- year ending 31- October 2023
New Covenant Fellowship Church Company Limited by Guarantee Year ended 31 October 2023 I report on the Accounts of the Charity for the year ended 31st October 2023 which are Set out on the following pages. Respective responsibilities of Trustees and Examiner The Charity's Trustees are responsible for the preparatron of the Accounts. The Charity's Trustee5 consider that an audit is not required for this year under section 43121 of thecharities Act 1993 (the 1993 Act) and that an Independent Examination is needed It 15 my responsibility to.. lil examine the Accounts under Section 4313llal of the 1993 Act,. lill follow the procedures laid down in the General Directions given by the Charity Commisslon under Section 4317llbl of the said 1993 Act,. and lili) state whether particular matters have come to my attention. Basis of Independent Examinerfs Report My examination was carried out in accordance with the General Directions 8iven by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented withthose records. It a150 includes consideration of any unusual such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequentty I do not express an audit opinlon on the vlew given by the at¢ounts Independent Examinerfs Statement In connection with my examination no matter has come to my attention: 111 which gives me reasonable cause to believe in any material respect the requirements lil to keep accounting record5 in accordance with Section 41 of the Charities Act 1993.. and lill to prepare Accounts which accord with the accounting records and to comply with the accounting requirements of the said 1993 Act have not been met, or 121 to which. in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached. Mr A Hickman - Accountant Guyvers Patmore End Ugley CM22 6JA
New Covenant Fellowship Church Company Limited by Guarantee Statement of Income and Retained Earnings Year ended 31 October 2023 2023 2022 Note Turnover 57922 57389 Operating Income 57922 57389 Administrative expenses other operating income Surplus / Ideficetl Income & Expenditure 74695 16428 -344 79387 16117 -5881 Deficet before taxation -344 -5881 Tax on surplus Deficit for the financial year and total comprehensive Income -344 -5881 Retained earnings at the start of the year Retained earnings at the end of the year 48362 48018 54243 48362 All the activities of the company are from continuin8 operations.
New Covenant Fellowship Church Company Limited by Guarantee Statement of Financial Positlon 31st Ortober 2023 Fixed assets Tangible assets 2023 2022 Note Current assets Cash at bank and in hand Creditors.. due within one year Net current assets Total assets less current liabilities 47268 290 46978 48642 280 48362 48018 48362 Net as*ts 48018 48362 Capital and reserves Profit and loss account Members funds 48018 48018 48362 48362 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the smoll companies. regime and in accordance with Section IA of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2CX)6 relating to small comapnies. Directors, responsibilities The member5 have not required the company to obtain an audit of its financial Statements for the year in question in accordance with settion 476: The directors acknowled8e their responsibilities for complying With the requirements of the Act with respect to accounting e0rd$ and the preparation of financial statements. These financial statements were approved by the board of director5 and authorised for issue on zA-lo? I ZA board bv.. and are signed on behalf of the S Graham Director Company registration number.. 07810922 The notes on pages 5 to 7 fomi part of these financtal statements.
New Covenant Fellowship Church Company Limited by Guarantee Notes to the Financial Statements Year ended 31 October 2023 l. General information The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 28 Whipperley Way. Luton. Beds, LUI 5LG. 2. Statement of compliance These financial statements have been prepared in compliance with Section IA of FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland 3. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilitie5 and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currenLry of the entitiy Tangible assets Tangible asset5 are initially recorded at cost. and subsequently stated at cost less any ccumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation & Subsequent accumulated impairment105ses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease ol the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumlslated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset. the excess shall be reco8nised in profit and loss. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that a55et as follows.. Musical & sound equipment - 25% straight line Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicètors exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testin& when tt is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generate5 cash inflows that are largely independant of the cash inflows from other assets or groups of assets.
New Covenant Fellowship Church Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 October 2023 3. Actounting policies (continued) Impairment of fixed assets Icontinvedl For impairment testing of 8oodwill, the goodwill acquired in a business combination is from the acquisition date. allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination. irrespertive of whether other assets or liabilities of the company are assigned to those units. Financial instruments Financial liabilitie5 and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deductin8 all of its financial liabilities. Where the contractual obli8ations of financial instruments lincluding share capitall are equivalent to a similar debt instrument. those financial instruments are classed as financial liabilites. Financial liabilities are presented as such in the balance sheet. Finance costs and gain5 or losses relatin8 to financial liabilitie5 are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meetin8 the definition of a financial liability then thls is cla55ed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. 4. Company limited by guarantee The company has no share capital and is limited by guarantee. 5. Deficet before taxation Deficiet before taxation is stated after char8inB: 2023 2022 Depreciation of tan8ible assets 228 2047 6. Tangible assets Equipment Total Equiment Total Cost At l November 2022 and 31 October 2023 Additions De reciation At l November 2022 Charge fof the year 13110 1268 13110 13110 228 13338 11063 2047 13110 At 31 October 2023 CarryirTrg amount At 31 October 2023 1040 At 31 October2022
New Covenant Fellowship Church Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 Ortober 2023 7. Creditors.. amounts falling due within one year 2023 2022 290 280 8. Related party transactions No transactions Wlth related parties were undertaken such as are required to be disclosed
New Covenant Fellowship Church Company Limited by Guarantee Management Information Year ended 31 October 2023 The followin8 pages do not form part of the financial statements
New Covenant Fellowship Church Detailed Income Statement Year ended 31 October 2023 2023 2022 Turnover Operating Income Sundry Income 57922 57922 2320 60242 57389 57389 Overheads Administrative expenses Other operatlng income Surplu5 / Ideficitl income & expenditure 74695 14108 -344 79387 16117 -5881 Deficit before taxation -344 -5881
New Covenant Fellowship Church Notes to the Detailed Income Statement Year ended 31 October 2023 2023 2022 Establishment ex Rent & rates Insurance and compliance enses 8579 572 9151 7800 875 8675 General expen5e5 Travel and conference costs Pastor & Speaker costs Mission costs Printing, Postage and Stationery Equipment/building repairs and renewals Staff c05tS Payroll costs Subscriptions EventslEvan8elism/adverti5in8 Giving Gifts IHardship Fund Book5 Computer/Zoom & accessories Hospitality Legal and professional fees Accountancy fees Sundry Expenses Depreciation of tangible assets 1924 50450 1660 47343 8258 174 56 145 S99 4289 24 199 1204 100 741 1128 5240 3299 723 719 290 259 228 2703 873 536 280 406 2047 70520 65375 Financial costs Bank charges 169 65544 192 70712 Other operatin8 income Other operating income - Gift Aid Other operating income - Events 12543 1565 14108 15083 1034 16117 io