NEW HORIZON AOG CHURCH A Charitable Company Limited by Guarantee
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED
31 MARCH 2021
CHARITY NO: 1156071 COMPANY NUMBER: 08676792
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NEW HORIZON AOG CHURCH
A Charitable Company Limited by Guarantee Company Number: 08676792
TRUSTEES’ REPORT FOR THE PERIOD ENDED 31 MARCH 2021
The Trustees are pleased to present their annual report and financial statements for the Period ended 31 March 2021 which are also prepared to meet the requirements for a Directors’ Report and accounts for Companies Act purposes, the financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 January 2019).
Senior Ministers Report
it has been an interesting journey in the last 15 months from 1 January 2020 to 31 March 2021 in managing a pandemic and keeping the Church connected. This has requireda lot of creativity and changes made at short notice.
Despite all the challenges and difficulties over the past 15 months we have witnessed many great and powerful testimonies of how God has continued to bless his Church during this extraordinary year to which we are truly thankful for.
During this time, we have transitioned our Sunday morning services from being pre-recorded to being live streamed and are continuing to provide this service to our congregation and a wider audience. This has been a useful tool for people who have had to self-isolate through the pandemic.
We continue to see new people attending our services and the Newcomers Life Group has grown, even during this difficult time.
At the start of the pandemic a community coronavirus helpline was set up in connection with the Nottingham and Derby Councils.
We have not needed to furlough any of our staff throughout this difficult time and we are extremely grateful to our congregation for their continued financial support.
We continue to be thankful to the hard work and generosity of the people who attend New Horizon Church which enables us to outwork the objectives of the charity and to impact our local community.
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Signed ...DIA
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Andy Dilnot Senior Pastor of New Horizon AOG Church
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NEW HORIZON AOG CHURCH
A Charitable Company Limited by Guarantee Company Number: 08676792
TRUSTEES’ REPORT FOR THE PERIOD ENDED 31MARCH 2021
Objects and Activities for Public Benefit
The activities of the church involve the promotion of our beliefs and reaching out to our community and beyond, providing care and sharing our faith. The charity is dependent on offerings received from its congregation and donations made. Many of the weekly activities are run by volunteers who are members of the church, and without their commitment given as volunteers the church would not function effectively. The Trustees believe that the services that are offered to the public by the New Horizon AOG Church make available access to all either as part of the congregation or the local community and as such believe this is a benefit to the whole community. The trustees of New Horizon AOG Church confirm that they have regard for the Charity Commissions guidance on public benefit and believe they have complied with their duties under Section 17(5) of the 2011 Charities Act with regard to public benefit.
Aims
To run Sunday church services, to engage in community outreach and events to support overseas mission, to run activities for children and young people, to engage in school assemblies and lunch time clubs, to provide activities for men and women and to provide pastoral care where needed.
Achieyements and Performance
Structure: -
No changes to the structure of the church were made between | January 2020 and 31 March 2021,
Vision: -
We exist to influence people, culture, communities and nations with the love of Jesus to create a better future for everyone.
The vision of New Horizon Church is: -
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To meet the object of the charity.
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e To encourage the congregation to serve the community. e To make a positive transformative difference to the community we serve. e =To build a church and community centre.
New Appointments during the year: -
Leigh Goodwin — Teaching and Missions Pastor Lisa Wood — Assistant Pastor
Trevor and Vivienne Carlin — Life Group Leaders Leigh and Jacqui Goodwin — Newcomers Life Group Leaders
Leadership: -
Due to the pandemic the church leaders met to discuss the everyday running of the church either face to face or by zoom depending on the Government ruling at the time.
The AOG Conference had been due to be held in Harrogate in May 2020. This was postponed until October and then changed to a 2-day online conference. This was attended by the church leaders and staff.
We were privileged and honoured to have Glenn Balfour, Barry Woodward, Edward Issitt, and David Hind as guest speakers over the 15-month period.
Bill Stone stepped down from his role on the leadership team.
Steve Bell’s employment was increased from part time to full time.
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NEW HORIZON AOG CHURCH
A Charitable Company Limited by Guarantee Company Number: 08676792
TRUSTEES’ REPORT FOR THE PERIOD ENDED 31MARCH 2021
Departments: -
All the departments of the Church have continued to socialise together either by zoom or in person depending on the Government rulings at the time.
Shine — The ladies of the Church meet every month, and this changed over to zoom. The Conference had to be cancelled for 2020. We were privileged to have Nikki Rucci join us by zoom in November 2020 to bring an encouraging message to the Shine ladies.
Youth — The young people continued to meet either by You Tube or in person, depending on the Government ruling at the time.
Young Adults — The young adults aged 17-27 have continued to meet every other Wednesday evening either in person or on-line.
Men — The men of the New Horizon Church took part in a curry night by zoom.
Life Group — The small groups which meet in people’s homes every month were changed to on-line meetings. Lisa Wood our Assistant Pastor plans the discussions for the evenings. The meetings have now increased from one to two meetings per month. We have studied books in the Bible and held socials. At Christmas all the life groups took part in a Christmas quiz.
Newcomers Life Group — We have seen an increase in new people attending the Church and the number of people attending the Newcomers Life Group. A Newcomers welcome meal was held in February 2020.
Parents and Toddier Group — This ministry had to be postponed due to the current situation but is planned to re-start as soon as it is safe to do so.
Prayer Meetings — The prayer meetings on a Tuesday morning were moved over to on-line when restrictions were enforced. The Church opened its doors to the community for private prayer and reflection when the building was closed for its normal Sunday services.
Baby Dedications — These were postponed due to the Church building not being open.
Baptisms — Due to the restrictions in place no baptisms took place over the last 15 months.
Kids Church — The younger children’s ministry has continued throughout this time and moved over to online presentations.
Community: -
New Horizon Church were involved in the following activities during the year: -
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« Food parcels were given out to families in need in the community during February half term and Easter holidays 2021 by either drive through or delivery.
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e We provided 3 complete school uniforms to families in the Eastwood area as part of the school uniform bank.
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e We were invited into local schools to bring the Christian message. e We provided Easter Eggs to the Broxtowe Women’s project. e A community care hub was set up and registered with Derbyshire and Nottinghamshire councils. A telephone number and email address were provided to the people in the community who had pastoral needs.
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The Church provided 200 Christmas gifts of food hampers, toys and Amazon vouchers to the Broxtowe Woman’s project.
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e Financial donations were given to Springbank School to provide extra food to families in need in our community.
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NEW HORIZON AOG CHURCH
A Charitable Company Limited by Guarantee Company Number: 08676792
TRUSTEES’ REPORT FOR THE PERIOD ENDED 31MARCH 2021
Easter 2020 - A Zoom of Witness service was held on Good Friday.
Annual Celebration - The Annual Celebration meeting was not held during 2020 due to the restrictions.
Christmas — With social distancing in place over Christmas, 3 Christmas Carol services were held on 20 December to enable everyone to attend. Services were also held on Christmas Eve and Christmas Day, but no singing was allowed.
Right Now Media - A free year’s subscription was given as a gift to all the congregation of the Church as a Christmas gift.
Staff Devotionals - The pastors of the Church broadcast a short staff devotional on-line every Wednesday and Friday to bring words of encouragement and uplifting messages.
Weddings — Despite restrictions being in place, 3 wedding ceremonies took place during 2020.
Church Suite — The Church software has been replaced.
Pastoral care —- This ministry is led by our Assistant Pastor Lisa Wood. The pastoral care of the Church is given by the pastoral team and the life group leaders. There has been an increase of care needed during this time of 100%.
Missions: -
Sasha and Sara Vitakic (Central Serbia)
For many years we have supported the Vitakic family who lead two churches in central Serbia. They are involved in leading churches, church planting, social action, and local school’s work.
Orphans in Africa (Zimbabwe)
;
We continue to support Orphans in Africa, who run an orphanage in Chinhoyi Zimbabwe. We have had a link with The Good Shepherd Centre for many years and feel it is a great privilege to support the many children who live at the centre. The financial support we provide is used to pay for the general day to day care of the orphans.
Edward and Rachel Issitt (Windsor, London)
Edward and Rachel Issitt have been great friends of the church for many years with New Horizon being Rachel’s home church and Edward serving on the church staff team for many years. They both lead an organisation called Your Mission which has a vision to help every Christian believer find their place in the great commission. Their work also includes supporting and training missionaries, organising mission conferences and events, raising mission awareness and visiting missionaries at grass roots level. We continue to support the work they do.
Volunteers: -
We have 160 volunteers serving on teams at the present time.
Financial Review
The attached Financial Statements show the current state of the finances of the Charity.
At the year end, New Horizon AOG Church had unrestricted funds totalling £575,668 (including fixed assets of £471,321) and restricted funds totalling £501 having received income of £252,765 in the period and spent £258,570. The actual cash reserves held now total £99,326 (2019: £48,553).
Investment Policy
As a charity we do not have an investment committee or investment manager.
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NEW HORIZON AOG CHURCH
A Charitable Company Limited by Guarantee Company Number: 08676792
TRUSTEES’ REPORT FOR THE PERIOD ENDED 31 MARCH 2021
Reserves Policy
The reserves consist of restricted and unrestricted funds as shown on the baJance sheet. The aim is to have funds available to cover future running costs; the optimal level of funds to hold in cash at any point in time is £10,000 in the current account and £40,000 on deposit with Kingdom Bank. Despite the difficulties over the last 15 months our reserves have increased. We are being conservative in our spending whilst we build up a reserve of £100,000. This is intended to be used to rent further space if this becomes available in the future.
Future Plans
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e Weare looking to start a Marriage Course which will be open to engaged couples and those considering getting married.
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e Weare looking to change the leadership structure as our present format is no longer sustainable for the size of the church.
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e Weare looking at replacing our church website.
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e We are launching new community and social action groups in the autumn and our Teaching and Missions Pastor Leigh Goodwin will lead this. The Parish Nursing community initiatives will be launched in the autumn which will be of great benefit to our church and the surrounding communities.
Covid 19 position
Government guidelines have been followed strictly during the pandemic with some arrangements being changed at short notice.
Our policy is reviewed on a regular basis and amended in line with the Government guidelines.
The Church building is now fully open to the congregation and for the hiring of rooms. We have sanitising stations in place and people are encouraged to use these. There is a choice available during the Sunday services for normal seating or socially distanced seating. Face coverings are encouraged to be worn when moving around the building.
We are extremely grateful to the congregation for their generosity and faithful giving over the last 15 months and that we did not have to furlough any of the staff during this time.
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NEW HORIZON AOG CHURCH
A Charitable Company Limited by Guarantee Company Number: 08676792
REFERENCE AND ADMINISTRATIVE INFORMATION
CHARITY TRUSTEES
Christopher Dilnot Michael Wood Carol Dennis William Stone (Resigned 22"! February 2020)
MINISTERS OF THE CHURCH & TRUSTEES (Responsible for day to day activities)
Andrew Dilnot Steven Bell
COMPANY SECRETARY PRINCIPAL ADDRESS WEBSITE REGISTERED CHARITY NUMBER INDEPENDENT EXAMINER
Carol Dennis
New Horizon AOG Church Unit | Linkmel Road Eastwood Nottingham NGI16 3RZ www.newhorizonchurch,org.uk 1156071 Mrs D J Lockwood FCA, FCCA, ATT (Fellow) Haines Watts Cliffe Hill House 22-26 Nottingham Road Stapleford Nottingham NG9 8AA
BANKERS
NatWest Ple Ilkeston Branch 42 Bath Street Itkeston Derby DE7 8HF
SOLICITORS
Geldards Solicitors
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NEW HORIZON AOG CHURCH
A Charitable Company Limited by Guarantee Company Number: 08676792
TRUSTEES’ REPORT FOR THE PERIOD ENDED 31 MARCH 2021 — Continued
Structure, Governance and Management
New Horizon AOG Church is a registered charity (number 1156071) and is governed by a trust deed dated 27 August 2013. This is based on the model deed as adopted by Assemblies of God incorporated for churches within it denomination.
The organisation is a company limited by guarantee not having a share capital and has obtained exemption within the Companies Act to dispense with the word Limited as part of the company name.
The Trustees meet on a monthly basis where decisions are made in relation to all aspect of church life and development.
Related Parties
New Horizon AOG Church is a member of the Assemblies of God churches nationally. There are no other related party transactions.
Risk Management
A process of risk management is under review particularly in relation to the potential move to a new church building. A risk register is to be developed to address potential risk areas and to ensure these are reviewed on a regular basis.
Statement of Trustees’ Responsibilities
Company Law requires the trustees to be responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The Elders are required to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law. The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees should follow best practice and:
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select suitable accounting policies and then apply them consistently;
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[1 observe the methods and principles in the Charities SORP;
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[] make judgements and estimates that are reasonable and prudent; (1 state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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QO prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper and 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 applicable law, regulations and the trust deed. 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing preparation and dissemination of financial statements may differ from legislation in other jurisdictions
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NEW HORIZON AOG CHURCH
A Charitable Company Limited by Guarantee Company Number: 08676792
TRUSTEES’ REPORT FOR THE PERIOD ENDED 31 MARCH 2021 — Continued
Members of the trustees
Members of the trustees who are directors for the purpose of the 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 6.
Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees at 31 March 2021 was 5 (2019: 5).
This report has been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities.
On behalf of the trustees of New Horizon AOG Church:
«
Signed: OGRA AK.« i ALS OGNnNI4
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Date: PPO) BDA see
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NEW HORIZON AOG CHURCH
A Charitable Company Limited by Guarantee Company Number: 08676792
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF NEW HORIZON AOG CHURCH
I report on the charity trustees on my examination of the accounts of the company for the period ended 31 March 2021.
Responsibilities and Basis of Report
As the charity’s trustees of the Company (and also its directors for the purpose 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 Company 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
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:-
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1) Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2) The accounts do not accord with those records; or
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3) The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirements that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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4) The accounts have not been prepared in accordance with the methods and principles of the Statement of recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)).
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.
; ) we S Re Mew sot D J Lockwood FCA, FCCA, ATT (Fellow)
Dated 2S relre2r
Chartered Accountant
Haines Watts
Cliffe Hill House
22-26 Nottingham Road Stapleford Nottingham NG9 8AA
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NEW HORIZON AOG CHURCH
STATEMENT OF FINANCIAL ACTIVITES FOR THE PERIOD ENDED 31 MARCH 2021 (Including Income and Expenditure Account)
| Period | Ended 31 | March 2021 | Year Ended 31 December | Year Ended 31 December | 2019 | |||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||
| Funds | Funds | Funds | Funds | Funds | Funds | |||
| 2021 | 2021 | 2021 | 2019 | 2019 | 2019 | |||
| Notes | £ | £ | £ | £ | £ | £ | ||
| INCOME | ||||||||
| Income from | ||||||||
| Donations and Legacies | 2 | 234,190 | - | 234,190 | 148,316 | - | 148,316 | |
| : | ||||||||
| Income from | ||||||||
| Charitable Activities | 2 | 4,422 | - | 4,422 | 24,612 | - | 24,612 | |
| Investment Income | 497 | - | 497 | 443 | - | 443 | ||
| Other | 12,656 | 1,000 | 13,656 | 10,769 | 145 | 10,914 | ||
| TOTALINCOME | 251,765 | 1,000 | 252,765 | 184,140 | 145 | 184,285 | ||
| EXPENDITURE | ||||||||
| Expenditure on | ||||||||
| Charitable Activities | 3 | 257,460 | 1,050 | 258,510 | 204,560 | 352 | 204,912 | |
| TOTAL | ||||||||
| EXPENDITURE | 257,460 | 1,050 | 258,510 | 204,560 | 352 | 204,912 | ||
| NET INCOME / (EXPENDITURE) |
(5,695) | (50) | (5,745) | (20,420) | (207) | (20,627) | ||
| TOTAL FUNDS | ||||||||
| BROUGHTFORWARD | 12 | 581,363 | 551 | 581,914 | 601,783 | 758 | 602,541 | |
| TRANSFERS | ||||||||
| BETWEEN FUNDS | - | - | - | - | - | - | ||
| TOTAL FUNDS | : | |||||||
| CARRIEDFORWARD | 12 |
The statement of financial activities includes all gains and losses in the year.
All incoming resources, and resources expended derive from continuing activities.
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NEW HORIZON AOG CHURCH
BALANCE SHEET AS AT 31 MARCH 2021
| Notes | 31.03.21 | 31.12.19 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXED ASSETS | 8 | 471,321 | 506,389 | ||
| CURRENT ASSETS | |||||
| Debtors | 9 | 21,749 | 45,750 | ||
| Kingdom Bank Savings Account | 7,198 | 28,129 | |||
| Cash at bank and in hand | 92,128 | 20,424 | |||
| 121,075 | 94,303 | ||||
| Creditors: Amounts falling due in one year | |||||
| Bank Loan | 10 | - | 12,500 | ||
| Sundry Creditors | 10 | 16,227 | 5,967 | ||
| 16,227 | 18,467 | ||||
| NETCURRENTASSETS | 104,848 | 75,836 | |||
| Creditors: Amount falling due after one year | |||||
| Bank Loan | 10 | ~ | Gll) | ||
| TOTAL NET ASSETS | 576,169 | 581,914 | |||
| TOTAL FUNDS OFTHE CHARITY:- | |||||
| Restricted Funds | 11 | 501 | 551 | ||
| Unrestricted Funds | 575,668 | 581,363 | |||
| TotalCharityFunds | 12 | 576,169 | 581,914 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies for the period ended 31 March 2021.
The members have not required the charitable company to obtain an audit of its financial statements for the period ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:-
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(a) Ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) Preparing financial statements which give a true and fair view of the statement of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (Issued March 2018).
The financial statements were approved by the Board of Trustees on af]al.a). and were signed on its behalf
by:
cAZoL Denis The notes form part of these financial statements
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NEW HORIZON AOG CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021
1. Accounting Policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period.
Basis of Preparation
The financial statements have been in accordance with the 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 January 2019) — (Charities SORP (FRS102)), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
New Horizon AOG Church meets the definition of a public benefit entity under FRS102.
Going Concern
The Trustees consider there are no material uncertainties about the Charity’s ability to continue as a going concern. See a review of the current Covid 19 position on page 5 of the Trustees Report.
The accounts are presented in Sterling £1.
Incoming Resources
These are accounted for on a receivable purpose in the period to which they relate. Incoming resources from tax reclaim are included in the SOFA at the same time as the gift to which they relate. Any known incoming resources yet to be received relating to the period before the year end date are included as debtors.
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the Trustee’s Annual Report.
Investment Income
This is included in the accounts when receivable.
Donated Services and Facilities
Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt
Expenditure and Liabilities and Irrecoverable VAT
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to pay out resources. Liabilities recognised as due at the year end date but at that point not paid are included as creditors.
Fundraising Costs
Fundraising costs comprise the costs of putting on events.
Charitable Activities
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its objectives. All costs are allocated directly.
Support Costs
Includes cost of the preparation and examination of statutory accounts, and the cost of any legal advice to the Trustees on governance matters
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NEW HORIZON AOG CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021 - Continued
Tangible Fixed Assets
On 17 December 2017 the Charity commenceda fifteen year lease on premises which require development to operate as a church. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Improvement to leasehold property ~ 20% on cost Plant and Equipment ~ 15% on cost
Fund Accounting
Unrestricted Funds
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the Charity without further specified purpose and are available as general funds.
Designated Funds
Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes.
Restricted Funds
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure, which meets these criteria, is charged to the fund, together with a fair allocation of management and support costs.
Lease Commitment
Lease payments are charged to the statement of financial activities as incurred.
Limited by Guarantee
The charity is limited by guarantee in the event of it being wound up, every member is liable to contribute a sum not exceeding £1. There are no shares of any class either authorised or allocated.
Debtors
Debtors are recognised at the settlement amount owed to the Charity or prepaid.
Creditors
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.
Financial Instruments
The Charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial! instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Taxation
The charity is exempt from tax on its charitable activities. The charity also rents its rooms to other local children’s activities which satisfy the objectives of the charity. The trustees have reviewed the charity’s trading activities and are confident that they further the charity’s aims and, as such, are considered to be primary purpose trading.
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NEW HORIZON AOG CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021 - Continued
| Period | Ended | Year Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 31.3.21 | 31.12.19 | |||||||||
| 2. Analysis ofIncome | Unrestricted | Restricted | Total | Total | ||||||
| £ | £ | £ | £ | |||||||
| Income from Donations and Legacies | ||||||||||
| Offerings and GiftAid income | 226,640 | - | 226,640 | 139,361 | ||||||
| Building FundMonies | 7,550 | - | 7,550 | 8,955 | ||||||
| £ | 234,190 | £ | - | £ | 234,190 | £ | 148,316 | |||
| Income from Charitable Activities | ||||||||||
| Coffee House | 2,221 | - | 2,221 | 9,429 | ||||||
| Men’s Conference & Events | - | - | - | 770 | ||||||
| Youth Camps and Youth Club | 1,548 | - | 1,548 | 8,423 | ||||||
| Seaside Trips | - | - | - | 532 | ||||||
| Shine Ladies Conference | 20 | - | 20 | 4,518 | ||||||
| Tots | 633 | - | 633 | 377 | ||||||
| Seniors Meals | - | - | - | 563 | ||||||
| £ | 4,422 | £ | - | £ | 4,422 | £ | 24,612 | |||
| Total | Total | |||||||||
| 3. Analysis ofResources Expended | Unrestricted | Restricted | 2021 | 2019 | ||||||
| £ | £ | £ | £ | |||||||
| Charitable Activities | ||||||||||
| Allocation ofSpecial Church Offerings | 1,000 | - | 1,000 | 1,729 | ||||||
| AOG Contribution | 2,990 | - | 2,990 | 1,860 | ||||||
| Salaries | 87,827 | - | 87,827 | $1,801 | ||||||
| Rent and Landlords Costs | 50,668 | - | 50,668 | 41,251 | ||||||
| Utilities and General Maintenance | 9,016 | - | 9,016 | 6,668 | ||||||
| Coffee House Costs | 1,993 | 1,993 | 10,347 | |||||||
| Heat and Light | 15,132 | - | 15,132 | 10,936 | ||||||
| Repairs and Equipment Maintenance | 6,901 | - | 6,901 | 10,242 | ||||||
| Telephone andBroadband | 1,578 | - | 1,578 | 798 | ||||||
| Office Use, Printing, | ||||||||||
| Postage and Stationery | 2,080 | - | 2,080 | 2,341 | ||||||
| IT and Website Costs | 7,334 | - | 7,334 | 1,386 | ||||||
| Licences and Insurance | 5,214 | - | 5,214 | 3,574 | ||||||
| Mission, Gifts and Sponsorship (see note 7) | 4,714 | - | 4,714 | 4,468 | ||||||
| Youth Workand Kids Church | 3,488 | - | 3,488 | 7,229 | ||||||
| Miscellaneous Costs | 3,354 | 1,050 | 4,404 | 2,782 | ||||||
| Training Costs | 145 | - | 145 | 860 | ||||||
| Events | 662 | - | 662 | 6,116 | ||||||
| Resource Table Costs | 17 | - | 17 | 1] | ||||||
| Advertising and Marketing | 3,663 | - | 3,663 | 2,552 | ||||||
| Depreciation - Improvement to Property |
29,676 | - | 29,676 | 23,741 | ||||||
| - Plantand Equipment | 7,392 | - | 7,392 | 5,772 | ||||||
| Bad Debt | - | - | - | 15 | ||||||
| Room Hire Costs | 245 | 245 | - | |||||||
| Support Costs | ||||||||||
| Loan Interest | 328 | - | 328 | 974 | ||||||
| Team Building and Pastoral | 1,321 | - | 1,321 | 791 | ||||||
| Bank Charges/ World Pay Costs | 1,404 | - | 1,404 | 289 | ||||||
| Consultancy Fees | 6,798 | - | 6,798 | 2,403 | ||||||
| Payroll Costs | 900 | - | 900 | 787 | ||||||
| Legal Fees& Professional Fees | - | - | - | 1,749 | ||||||
| Independent Accountants Fees | 1,620 | - | 1,620 | 1,440 | ||||||
| £ | 257,460 | £ | 1,050 | £ | 258,510 | £ | 204,912 |
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NEW HORIZON AOG CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021 - Continued
4. Salaries and Expenses
Key employees Andrew Dilnot, a minister and Trustee was paid a gross salary of £50,184. Steven Bell, a minister and trustee was paid a gross salary of £23,579. This is allowed in the constitution which has received Charity Commission approval.
There are no employees earning more than £60,000.
Included in ministry and general expenses are staff costs as follows:-
| ministry and general expenses are staff costscosts as follows:- | ||
|---|---|---|
| Period Ended | Year Ended | |
| £ | £ | |
| Salaries (gross) | 83,581 | 48,673 |
| Pension Contributions | 3,429 | 1,921 |
| StaffExpenses (including travel and working from home costs) | 817 | 1,207 |
| 87,827 | $1,801 |
The average number of employees during the year was 8 (2019: 6.5).
5. Trustee Expenses
Expenses were paid to the following trustees:-
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2021 2019
£ £
A Dilnot - Travel and working from home costs 144 380
S Bell - Travel costs 571 109
Aggregate Trustee giving totalled £24,480 (2019: £18,925)
6. Fees for examination of the accounts 2021 2019
Independent Examiner’s fees for reporting on the accounts 1,620 1,440
7. Mission Gifts and Sponsorship 2021 2019
Light and Life Ministries 750 600
World Ministries - Edward and Rachel Issitt 500 1,000
Orphans in Africa 750 600
Community Outreach - 38
Ministry Gifts 2,714 2,230
AO8
8. Fixed Assets Plant and Leasehold Total
Equipment Improvements
£ £ £
Cost as at 1 January 2020 86,572 474,812 561,384
Additions in the Year 2,000 - 2,000
88,572 474,812 563,384
Depreciation as at 1 January 2020 8,735 46,260 54,995
Depreciation charge for the year 7,392 29,676 37,068
16,127 75,936 92,063
Net Book Value at 31 March 2021
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NEW HORIZON AOG CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021 - Continued
| 9. | Debtors and Prepayments | 2021 | 2019 | ||
|---|---|---|---|---|---|
| Rent in Advance | 9,516 | 38,685 | |||
| Gift Aid | 7,185 | 5,933 | |||
| Other Debtors | 5,048 | 1,132 | |||
| £ | £ | ||||
| 10. | Creditors and Accruals | 2021 | 2019 | ||
| Accruals | 2,840 | 1,440 | |||
| Other Creditors | 13,387 | 4,527 | |||
| £ | £ |
11. Financial Commitments
Unit |, Linkmel Road, Eastwood, Nottingham, NG16 3RZ — A new lease commenced on 19 December 2017 for a period of 15 years the term being as follows:-
£40,000 — years 1 to 3 per annum
£43,000 — years 4 to 6 per annum
£46,000 — per annum-for the remainder of the term
| 12. | Analysis ofNet Assets between Funds | Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|---|---|
| £ | £ | £ | |||||
| Tangible Fixed Assets | 506,389 | - | 506,389 | ||||
| Current Assets | 93,752 | 551 | 94,303 | ||||
| Liabilities | (18,778) | - | (18,778) | ||||
| Net | Assets at 31 December 2019 | £ | 581,363 | £ | 551 | £ | 581,914 |
| Analysis ofNet Assets between Funds | Unrestricted | Restricted | Total | ||||
| £ | £ | £ | |||||
| Tangible Fixed Assets | 471,321 | - | 471,321 | ||||
| Current Assets | 120,574 | 501 | 121,075 | ||||
| Liabilities | (16,227) | - | (16,227) | ||||
| Net | Assetsat31March2021 | £ | 575,668 | £ | 501 | £ | $76,169 |
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NEW HORIZON AOG CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021 - Continued
| 13. | Movement in Funds | At | At | |||||
|---|---|---|---|---|---|---|---|---|
| 1 January | Incoming | Outgoing | Transfer | 31 March | ||||
| 2020 | Resources | Expenses | 2021 | |||||
| £ | £ | £ | £ | £ | ||||
| Restricted Funds | ||||||||
| School Uniforms | 551 | 1,000 | 1,050 | - | 501 | |||
| Smee le© |
meee | O00 | Enel2050£ |
Purpose of Restricted Funds
School Uniforms An amount brought forward of £557was given specifically to use for the purchase of school uniforms. After movements in the year an amount of £376 was unspent.
Sufficient resources are held in an appropriate form to enable each fund to be applied in accordance with any restrictions.
14. Related Parties
New Horizon AOG Church is a member of the Assemblies of God churches and pay an annual fee to them of £2,990 (2019: £1,860). Spouses of two members of the Board of Trustees are paid employees of the charity, the total gross pay in the year was £7,492.
There are no other related party transactions.
15. Taxation
The charity is exempt from Corporation Tax on its charitable activities. The trustees have reviewed the churches activities and are confident that they fulfil charitable aims and they are considered primary purpose.
16. Trustee Indemnity Insurance
The Trustees hold indemnity cover which is paid for within the general insurance cover to cover a maximum claim of £500,000, the cover was increased during the year.
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