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 31[st] October 2024** **Charity number: 1147874 Company number: 7810922** A1 Annual Report and Financial Statements – year ending 31[st] October 2024 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 31[st] October 2018** |**Contents**|**Page**| |---|---| |Reference and Administrative Information|A3| |Management Committee Report|A4| |Responsibility of the Management Committee|A9| |Independent Examiner’s Report|0| |Statement of Income and Retained Earnings|3| |Statement of Financial Position (Balance Sheet)|4| |Notes to the Financial Statements|5-7| |Detailed Income Statement|9| |Notes to the Detailed Income Statement|10| A2 Annual Report and Financial Statements – year ending 31[st] October 2024 NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people ## **Reference and Administrative Information** ## **New Covenant Fellowship Church** The Trustees present its Management Committee Report and independently examined financial statements for the year ended 31[st] October 2024. ## **Reference and Administrative Information** Charity Name: New Covenant Fellowship Church Charity Registration Number: 1147874 Company Registration Number: 7810922 Registered Office: 28, Whipperley Way, Farley Hill, Luton, Beds. LU1 5LG Operational Address: Kestin House, 45 Crescent Road, Luton, LU2 0AH ## **Management Committee (Board of Trustees)** Ms Bongai Mutema Mr J Henrique dos Santos Mrs Ivanilde dos Santos Mr Nanzip Lannap Mrs Samantha Graham Dr Stephen Pam [Chair] **Treasurer:** Mr Jerome Cupido ## **Independent Examiner of Accounts** – Mr Anthony Hickman, Accountant, ‘Guyvers’, Patmore End, Ugley, Essex, CM22 6JA **Bankers** – HSBC, 63, George Street, Luton, LU1 2AR A3 Annual Report and Financial Statements – year ending 31[st] October 2024 NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people ## **Management Committee Report** ## **Structure, Governance and Management** ## Governing Document New Covenant Fellowship Church (NCFC) is a charitable company limited by guarantee. It was incorporated on the 14[th] October 2011 and registered as a charity on the 28[th] June 2012. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company, and it 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. ## Recruitment and appointment of Management Committee The Directors of the company are also the charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association, Directors continue in office until they resign, are removed or pass away. As and when new members are required, potential candidates will be identified based on their skills, experience and involvement with NC FC. The Management Committee seeks to maintain a range of appropriate business skills on the committee. Due to their oversight and responsibility for the children's and young persons’ ministry, the Management Committee undertake a Disclosure and Barring Service (DBS) 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 also by the Charity Commission. No other members of the Management Committee are remunerated or receive benefits from the charity. ## Trustee induction and training During 2023-2024, no new trustees were appointed to the Board. All Trustees continue to be familiar with the work and life of the church. One Trustee is no longer a member of the church; all the others have either held positions of responsibility within the church in the past, or continue to do so, in addition to being Trustees (e.g. as home cell group leaders or worship A4 Annual Report and Financial Statements – year ending 31[st] October 2024 ## NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people leaders). Potential new Trustees will be provided with information on the roles and responsibilities of Trustees as part of an initial scoping conversation. The information will include previous minutes and company documents (e.g. annual reports). Potential candidates will need to pass an interview process involving the Chair and other Trustees successfully before being appointed. ## Risk Management The Management Committee has considered the major risks to which the charity is exposed and has put mitigating actions in place to overcome these risks. ## Organisational Structure Six members served on the NCFC Board of Trustees during 2023-2024. The Board can be expanded as the charity requires. The Trustees meet at least four times a year and they cover the financial and administrative matters of the charity. 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 in spiritual and leadership matters, the church has a Pastor Support Group. This group also oversees or supports various functions within the church. ## Decision-making processes 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 to ensure good financial management. The key decision-making processes in place are as follows: 1. Spiritual matters – delegated to the Pastors 2. Financial matters – expenditure 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 ## Related Parties During the financial year, the church was affiliated to New Covenant Fellowship Church in Brazil (Igreja Evangelica Nova Alianca) and continued to support missionary activity with funds being transferred retrospectively after the year end each year. The church also supported mission work in Rwanda, Thailand and Turkey, and continued to sponsor two children through the A5 Annual Report and Financial Statements – year ending 31[st] October 2024 NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people charity Compassion UK. NCFC also supported the international charity Open Doors, which provides support to persecuted Christians overseas, and continued its link with Youth with a Mission (YWAM). ## Financial Review and Reserves The church receives its funding from tithes, offerings and donations given by members of the congregation, from events income and Gift Aid. The church’s income was less than projected at £53,383, however some £10,000 of Gift Aid expected towards the end of the year arrived the month after the financial year closed. The income was a small decrease from the previous year’s income pre-Gift Aid (2022-2023: £57,923). NCFC aims to hold sufficient unrestricted funds not designated or invested in fixed assets (i.e. “free reserves”) to meet three months’ expected committed expenditure. In 2023-2024 the charity had sufficient reserves to meet this level of expenditure. NCFC will continue to hold this level of reserves and take mitigating actions accordingly if reserves were to dip below this level. ## **Objectives and Activities** ## Purpose New Covenant Fellowship Church is a registered charity and a company limited by guarantee. The charity’s objects contained in the company’s Memorandum of Association are: - To advance the Christian faith for the public benefit. The church has an overarching goal of “making 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. These are as follows: - 1) Love God - 2) Love people - 3) Live according to the Word of God (the Holy Bible) - 4) Live in the power of the Holy Spirit - 5) Live a life of holiness - 6) Live a life of freedom - 7) 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 planning the A6 Annual Report and Financial Statements – year ending 31[st] October 2024 NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people activities and focus for the year. The church has continued key activity to help fulfil its purpose and mission. ## Performance and Achievements The church continued to develop its activities during the year through core activity, including church services, prayer meetings and discipleship, and developing new areas to increase its impact. Activities included: - The Sunday morning daytime service: Sunday services took place throughout the year. They were held in person, with recordings of the sermons enabling some online presence for those unable to attend. The services incorporated vibrant worship, dynamic teaching and preaching, prayer, ministry and time for fellowship. These services were open both to church members and others who wished to attend; - The Sunday evening Portuguese service: A Sunday evening service was run for Portuguese speaking people, which provided fellowship, teaching and discipleship. It was discontinued during the year as the majority of attenders worked in paid employment on Sundays and found church attendance difficult; - Children's activities: These took place during the Sunday morning service throughout the year, despite the relatively low number of children in the church; - Prayer meetings: The weekly prayer meetings continued throughout the year, the Wednesday morning meeting tended to focus on healing whilst the Wednesday evening prayer meeting had a more general focus; - Home cell groups: The weekly meetings of small groups of church members took place throughout the year. Three groups met in person and one group online. These groups focused on bible study and fellowship. They proved invaluable support in providing that fellowship, enabling spiritual growth, and in providing mutual prayer, accountability and support; - Encounter with God conferences (inner healing): Two Encounter with God conferences took place during the year, both of which were well attended and had excellent feedback from the delegates; - Men's and women's events: A number of men's fellowship events were held including Saturday morning breakfasts. Women's fellowship events included an afternoon tea, a breakfast, several fellowship events and a women's conference, where almost 40 attendees heard three speakers; - Street evangelism: There was also some street evangelism carried out by the Pastors in association with Youth With A Mission (YWAM); A7 Annual Report and Financial Statements – year ending 31[st] October 2024 ## NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people - Learning to sew club: A learning to sew club was set up to run on a Monday morning with the intention of providing refugees, the lonely, unemployed and vulnerable women with a new skill, whilst at the same time being a forum to develop positive relationships. Initially attracting some local women, one couple and several refugees, it has grown in size, although regular movement of refugees means that none of them now attend. The current group numbers some 10 women. Donations of money for sewing machines, sewing machines themselves and material have helped this to be a most successful venture. The church worked hard, and highly effectively, in developing its social media presence, which grew significantly during the year. NCFC developed and established an online presence on key social media platforms, including Instagram and Facebook. Three minute reels were regularly produced and had between 1,000 and 2,000 people following them. Towards the end of this year, the media team began to produce a series of filmed podcasts where church members and others were interviewed about their lives and the impact of Jesus. These, again, were seen not only by church members but had a large outside audience. ## Plans for Future Periods NCFC will continue to fulfil its mission and vision as a church encouraging its members to love God, to love people, to make disciples, and to live in such a way as to be making Jesus too big to ignore. It will continue to develop its social media presence, and maintain its focus on fellowship, discipleship, inner healing, prayer support, intercession, teaching, outreach and missionary support. It is hoped to develop activities to meet some of the social needs in the town. It is likely that the relationship with the church in Brazil will cease, necessitating a change of name and brand, but the work of the church will continue as before. A8 Annual Report and Financial Statements – year ending 31[st] October 2024 NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people ## **Responsibilities of the Management Committee** Company law requires that the Management Committee prepares a Management Committee Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practise). The law applicable to charities in England and Wales requires the Trustees (Management Committee) to prepare financial statements which give a true and fair 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 financial statements the Management Committee are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the charities SORP; - make judgments and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject 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 charity and enable them to ensure that the financial statements comply with the Companies Act (1985), the Financial Reporting Standard for Smaller Entities, the Charities Act (2011), the Charity Accounts and Reports Regulations (2008), and the provisions of the trust deed. The Management Committee is 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 ## Members of the Management Committee Members of the Management Committee, who are Directors 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. In accordance with company law, as the company’s directors, we certify that: - so far as we are aware, there is no relevant information of which the company’s independent examiner of accounts is unaware; A9 Annual Report and Financial Statements – year ending 31[st] October 2024 NEW COVENANT FELLOWSHIP CHURCH A place to love God and love people as the dlrertors ofthe company we have taken 311 the rteps that we ought to have taken in order to make oUrSe￿eS aware of any relevant infom)ation and to estsblish that the chariff5 independent examiner of Kcounts is aware of that information. Inde endent Examiner of Accounts Mr Anthony Hickman was appointed as the charitable companvs accountsnt and independent examiner of the accounts. The Trustees consider that an audit is not required for this year under Section 43121 of the Charities Act 1993 Ithe 1993 Act) and that an Independent Examination is needed. Approved by the Management Committee on 23 and signed on its behalf by.. Dr S J Pam (Dlrertor) Alo Annual Re￿rt and fvnarxknl St*emen15- yeareTrdir* 31sl October 2024 Company Re8iStration Number: 07810922 New Covenant Fellowship Church Company Umlted by Guarentee Unaudfted Financial Statements 315t Ortober 2024 Mr A Hickman - Accountant Guyvers Patmore End Ugley CM22 6JA New Covenant Fellowship Church Company Limited by Guarentee Dlrertors. Report Year Ended 31st Ortober 2024 The direclors present their report and the unaudited financial ststements of the company for the year ended 31st October 2024. Directors The dlrectors who served the company duri￿ ihe year were as folbows.. DrSPam Mr H J Barr￿ Dos Santos Mr N Lannap Mfs I Sousa Dos Santos Mrs S C Graham Ms B Mutema Small company provisions This report has been prepared in accordance with the provislons applicable to companies entltled to the small companies ememption. This report was approved by the board ofdirectorson......... .......... ...... and $18ned on behalf of the board by: S Graham Dlrertor Registered offke- 28 Whlpperley Wav Luton Beds LUI SLG New Covenant Fellowshlp Churth Company ￿rnIted by Guarantee Year ended 31 October 2024 I report on the Accounts of the Charity for the year ended 31st October 2024 which are set out on the following pages. Respective ￿SpOnsIbl11t1es of Trustees and Examiner The Charivs Trustees are responsible for the preparation of the Accounts The Charity's Twstees consider that an audit is not required for this year under section 43121 of thecharities Act 1993 (the 1993 Act) and that an Independent Examination is needed It is my responsibility lo: lil examine the Accounts under Sertlon 4313lla} of the 1993 Act; lill follow the procedures laid down in the General Dirertion$ given by the Charity Commlsslon under Sertion 4317llbl of the said 1993 Act: and {1111 stste whether partlcular matters have c(xne to my attentlon. Basis of Independent Examinerfs Report My examination was carried out in accordance with the General Dlrectbons 81ven by the Charlty Commlsslon. An examination includes a review of the accounting records kept by the Charity and a cornparison of the accounts presented wlththose records. It also i￿l￿deS consideration of any unusual such matters. The pr￿dureS undertaken do not provide all the evhlence that would be required in an audit, and con5equentty I do not express an audit oplnlon on the view 8iven by the accounts Independent Examlnerfs Statement In connection with my examlnation no rnatter has come to my attentlon: 111 which 8ives me reasonable cause to believe in any material respect the requirements lil to keep accounting records in accordance wllh SectK)n 41 of the Charities Art 1993: and Illl to prepare Accounts which accord with the accounting records and to comply with the accountin8 requirements of the said 1993 Act have not been met. or 121 to whlch. 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 thurch Company Llmited by Guarantee ststement of Income and Retained Earnlngs Year ended 31 October 2024 2024 2023 Note Turnover 53383 57923 Operatin8 Income 53383 57923 Administrative expenses other operating incorne Surplu51 IdefKetl lficome & Expenditure 78777 74695 16428 .18498 Deficet before tsxatlon -18498 Tax on surplus Deficit for the financial year arrfl total comprehensive income -18498 -344 Retained eamln8s at the stsrt of the year Retained earnlry al the end of the year 48018 29520 48362 48018 All the activitles of the company are from Continui￿ operations. The notes on pages 5 to 7 form part of these financial ststements. New Covenant Fellowshlp Churth Company Limited by Guarantee Statement of Financlal Position 31st October 2024 2024 2023 Flxed a$5etS Tangible assets Note Current assets Cash at bank and in hand Creditors.. due within one year Net current assets Total assets less current liabilit￿S 28770 47268 290 46978 29520 48018 Net assets 29520 48018 Capital and reser¥es Profit and loss account Members funds 29520 29520 48018 48018 These financlal statements have been prepafed In accordance wlth the provisions applicable to companie5 subject to the small compan•es' re8ime and in accordance wlth Sertion IA of FRS 102 The Flnancial Reportirv4 Stsrthrd applicable in the UK and Republic of Ireland. For the year endin8 31 October 2024 the company was entitled to exemption from audit under sertion 477 of the Companles Act rehitin8 to small comapnies. Dlrertors. responslbllltles ' The members have not required the company lo obtaln an audit of its financlal statements for the year in queslion in accordance with sertion 476- The directors acknowledge their responsibilities for complying wrth the requireFnents of the Act with respect to accounting records and the preparation of financial statements. These finandal ements We￿ approved by the board of dlrector5 and authorfsed for issue on .. and are Svdned on behalf of t board by.. S Graham Director Company registration number. 07810922 The notes on pa8e5 5 to 7 fomi part of these financial Statements. New Covenant Fellovtship Church Company Limited by Guarantee Notes to the Financial Statements Year ended 31 October 2024 l. General inforn￿tIon The company is a prbvate company limited by guarantee. registered in England and Wales. The address ol the re8i5tered office is 28 Whipperley Way, Luton. Bed5. LUI 5LG. 2. Statement of compllance These financial statements have been p￿pared in compliance with Section IA of FRS 102, The Flnanclal Reporting Standard applicable in the UK and the Republic of Ireland 3. Ac¢ouniing policies Basis of preparation The financial statements have been prepared on the historkal cost basis. as modified by the revaluation of certain financial assets and liabilities and In￿lMent propertles measured at fair value through profit or loss. The financial statements are prepared in Sterli￿ which is the functional ￿rrencY of the entitry Tanglble assets Tangible assets are initially recorded at cost. and subsequentty ststed at cost less any accumulated depreciation and impairment10sses. Any tangibk assets carrled at revalued amounts are recorded at the fair value at the date of revaluation less anv subsequent accumulated depreciation & subsequent accumulated impalrn*nt bosses. An Increase In the carrying amount of an asset as a resuh of a revaluation, is recognlsed In other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset p￿vIous￿ recognised in profit Of loss. A decrease in the carryin8 amount of an a55et as a resuh of revaluation. is recognised In other comprehensive income to the extent of any previously reco8nised revaluation increase accumulated in equity in respert of that asset. Where a revaluation decfease exceed5 the accumulated revaluation gains accumulated In equity in respect of that asset, the excess shall be recognised in profit and loss. Depreciation Depreciatlon is cakulated so as to write off the cost or ¥aluatlon ol an asset. le55 its residual value. over the useful economic lrfe of ihat asset as follows: Musical & Sound equipment- 25% straight line Impairment of fixed assets A review for indicators of impaimient Is carried out at each reportlng date, with the coverable amounl being estirnated where such Ind•cators exist. Where the carryin8 value exceeds the recoverable amount. the asset is impaired accordirydty. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment te5tin& when it is not possible to estimate the recoverable amount of an individual asset. an estimale is made of the recoverable amount of the cash generatin8 unit to which the asset belongs. The cash*eneratin8 unit is the Smallest identif￿ble group of assets that includes the asset and 8enerates cash inflows that a￿ largely independant of the cash inlknls from other assets or groups of assets. New Covenant Fellowship Churth Company Umited by Guarantee Notes to the Financial Statements (continued) Year ended 31 October 2024 3. Accountlng policies {continuedl Impairment of fixed assets Icontinuedl For impairment testing of goodwill. the goodwill acquired in a business combination Is from the acquisition date. allocated to each of the cash-generating units that a experted to benefit from the synergies of the combinatK>n, irrespective of whether other assets or liabilities of the cornpany are assigned to those uni Financial instruments Financial liabilities and equity Instruments a￿ classified accordlng to the substance of the contractual arrangements entered into. An equity instrument is any C￿tract that evidences a residual Interest in the assets of the entity after deducting all of its financlal liabilities. Where the contrartual obligations of financial instruments (including share capitsl} are equivalent to a similar debt instrument. those financial Instruments are classed as financial liabilites. Financial liabilitie5 are presented as such in the balance sheet. Finance costs and gains or losses relating to financial Ilabilities are included In the profrt and loss account. Finance costs a￿ cakulaied so as to produce a constant rate of retum on the 04rtstsndln8 liability. Where the contrartual terms of share capital do not have any ternis meeting the definltion of a flnancial liability then this Is classed as an equity instrument. DivKJends and distributions relatlng to equity instruments are debited direct to equlty- 4. Company limited by guarantee The company has no share caplt•l •rKI is limited by gtsarantee. 5. Deficet before taxatlon Oeficiet before taxation is stated after chargin8: 2024 2023 Depreciatlon of tarylble assets 1514 228 6. Tangible assets Equipment Total Equiment Total Cost At l November 2023 and 31 October 2024 Additions Depreciation At l Novembef 2023 Charge for the year 13338 1514 13110 1268 13338 1514 14852 13110 228 13338 At 31 Ortober 2024 Carrying amount At 31 October 2024 At 31 October 2023 New Covenant Fellowship thurch Company Limited by Guarantee Notes to the Flnanclal Statements (continued) Year ended 31 October 2024 7. Creditors: amounts falli￿& due within one year 2024 2023 290 29) 8. Related party trnnsactions No transactions with related parties were undertaken such as are required to be disclosed New Covenant Fellowship Church Cornpany Limited by Guarantee Management Information Year ended 31 Ortober 2024 The followire pa8es do not forni part of the financial statements New Covenant Fellowship Church Detailed Income Statement Year ended 31 October 2024 2024 2023 Turnover Operating Income Sundry Income 53383 53383 57923 57922 2320 60243 $4388 Overhead5 Administrative expenses Other operating income Surplus / Ideficitl income & expenditure 78777 74695 14108 .344 .18498 Deficit befo￿ taxation .18498 .344 New Covenant Fellowship Churth Notes to the Detailed Income Statement Year ended 31 October 2024 2024 2023 Establishment expenses Rent & rates Insurance and cornpllance 10715 8579 572 9151 10715 General expenses Travel and conference costs Pastor & speaker costs Mission costs Printin& Postage and Statbonery EquipmenVbuildlr8 repalrs and renewals Staff costs Payroll costs Subscrlptions Events/Evan8elismladvertlsiTrd 2425 712 1924 50450 174 49￿5 145 2751 156 740 1128 Fll Givin8 Gifts IH•rdship Fund Books Computerlzoom & accessorles Hospltality Legal and professlonal fees Accountancy fees Sundry Expenses Depreciation of tan8lble a￿ets 7485 5240 3299 723 719 290 259 228 65375 144 1514 67915 Flnanclal costs Bank char8es 146 169 65544 Other operating income Other operatin8 income- Gift Aid Other operating income- Events 2986 2YJ5 5891 12543 1565 14108 Company Registration Number: 07810921 io