NEW COVENANT CHAPEL
## **ANNUAL REPORT & FINANCIAL**
## **STATEMENTS 31**
**MARCH 2021**
**Charity Number 1161634**
**NEW COVENANT CHAPEL FINANCIAL STATEMENTS FOR YEAR ENDED**
|**CONTENTS**|**PAGE**|
|---|---|
|Trustees Annual Report|**3**|
|Statement of Financial Activities (incorporating the||
|Income and expenditure account)|**8**|
|Balance sheet|**9**|
|Notes to the fnancial statements|**10**|
|Independent Examiners Report|13|
**NEW COVENANT CHAPEL TRUSTEES ANNUAL REPORT YEAR ENDED**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered charity name** NEW COVENANT CHAPEL
**Charity registration number** 1161634
**Principal office** 79 Sidney Road Manchester M9 8AT **Registered office** 79 Sidney Road Manchester M9 8AT
## **THE TRUSTEES**
Ms. Rosemary Gambiza
**Independent Examiner** Compassion Hondonga MAAT 34 Britannia Way Norwich NR5 0UW
**Bankers** Barclays Bank
**- 3**
The trustees have the pleasure to present their report and the unaudited financial statement of the charity for the period ended 31[st] March 2021.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
New Covenant Chapel is registered charity in the United Kingdom.
The charity is governed by the constitution, which states that the appointment of new trustees is at the discretion of the spiritual leadership of the church. Trustees retire from the church at the end of their term of office during an Annual General Meeting and are automatically eligible for re-election. An election is held with trustees required to receive a simple majority of those present to be elected. New trustees with the necessary skills to contribute to the charity's management and development are nominated by members as of the board of trustees, interviewed by a panel and appointed by a resolution taken by the trustees. When new trustees are appointed, they are given an introduction to the work of the charity and provided with the information they need to fulfil their roles, which includes information about the role of trustees and charity law.
The board of trustees administers the human and financial resources of the charity. An administrator is appointed by the trustees to manage the day to day operations of charity, reporting on the performance against the strategic plans of the establishment.
## **RISK MANAGEMENT**
The trustees consider the risks affecting the charity and its activities as part of its short- and long-term procedures. These are renewed regularly, and plans amended accordingly to mitigate those risks. The risk Register we have created helps us consider the level of risk being faced and to reduce the higher risks to a level acceptable to New Covenant Chapel governing body. In assessing risk, the trustees recognise that some areas of our work require the acceptance and management of risk if our key objectives are to be achieved.
## **OBJECTIVES AND ACTIVITIES**
The object of the charity is for public benefit:
To advance the Christian religion in Greater Manchester and beyond and for the benefit of the public through the holding of prayer meetings, lectures, public celebration of religious festivals, producing and / or distributing literature on the Christian faith to enlighten others about the Christian religion.
The trustee’s objectives for each year are determined by reference to the overall objects.
## **ACHIEVEMENTS AND PERFORMANCE**
The past year was a difficult year due to Covid-19 so all our programmes had to stop. We did not get and donations or sponsorship.
## **YOUTH ACTIVITIES**
No youth programmes took place because of Covid-19
## **WEDNESDAY SERVICES**
All our services were held on Zoom
## **SUNDAY SERVICES**
Our Sunday services were held on Zoom platform.
## **ASYLUM SEEKERS AND REFUGEES**
We did not support of any asylum seekers and refugees due to lack of resources
## **CAREERS SUPPORT**
No programmes took place due to covid-19
## **MUSIC CONCERT**
No concerts were held in the past year.
## **PLANS FOR NEXT**
We intend to develop the above projects, activities and events as we aim to reach wider sections of our local community. We look forward to recruiting participants and running project as planned.
## **FINANCIAL REVIEW**
Voluntary unrestricted income totalled £0.00 (2020 £0.00) the money was raised through the efforts of the spiritual leadership of the church. The significant inadequacy in income has allowed us to review our income generating activities and our out-going operations to relieve financial hardship on the organisation. Moving forward, we have established our gift aid management to enhance future incoming activities by engaging our accountants to help with a well-established process of making the gift aid claims. It is expected that the financial position will increase over the subsequent years. Also, the charity is pursuing strict budgetary and prudent ways of reducing the cost of running the charity.
It is the Trustees objective to build up sufficient reserves to cover one year's expenditure. In the Trustees opinion, it will take a number of years to achieve this objective.
.
**Note £** £
**NEW COVENANT CHAPEL STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND YEAR ENDED 31 ) Total Funds** Total **MARCH 2021 2021** Funds 2020
Voluntary Donation Grants
Support costs
**TOTAL FUNDS CA**
The Stateme nt of Financial Activitie
**The notes on pages 10 to 11 form part of these financial**
**- 8**
## **NEW COVENANT CHAPEL STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND )**
s includes all gains and losses in the
year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities.
**The notes on pages 10 to 11 form part of these financial**
**- 9**
**NEW COVENANT CHAPEL BALANCE SHEET** AS AT **31**
||||**2021**||2020|
|---|---|---|---|---|---|
||**Note**|**£**|**£**||£|
|**FIXED ASSETS**||||||
|Tangible assets||||||
|||||2.913||
|2,913||||||
|**CURRENT ASSETS**||||||
|Cash and cash equivalents|||**8**||8|
||||**8**||8|
|**CREDITORS:**||||||
|Amounts falling due within one year||||||
|**NET CURRENT ASSETS**||||||
|**NET ASSETS**|||**2,921**||2,921|
|**FUNDS**||||||
|Unrestricted income funds|||**2.921**
||2,921|
|**TOTAL FUNDS**|||**2,921**||2,921|
|||===========||||
These financial statements were approved by the members of the committee on the 7[th] December 2021 and signed on their behalf by:
Rosemary Gambiza
(Chairman of Board of
Trustees)
15th December 2021
**The notes on pages 10 to 11 form part of these financial**
**- 9**
**NEW C0VENANT CHAPEL NOTES TO THE FINANCIAL STATEMENTS YEAR**
## **1. ACCOUNTING POLICIES**
## **Basis of accounting**
The financial statements of NCC have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" issued (SORP 2015) using the Receipts and Payment basis.
## **Cash flow statement**
The trustees have taken advantage of the exemption in Financial Reporting Standard No 1 (revised) from including a cash flow statement in the financial statements on the grounds that the company is small.
## **Fixed assets**
All fixed assets are initially recorded at cost.
## **Depreciation**
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Equipment - 25% WDV Building work - 25% WDV Motor Vehicles - 25% WDV
## **2. INCOME**
|**Restricted**
**Funds**
£
**Donations**
Voluntary Donations
Investment Interest
**Total**|**Unrestricte**
**d**
**Funds**
£
0.00
0.00|**Total**
**Fund**
**s**
**2021**
£
0.00
0.00|**Total**
**Fund**
**s**
**2020**
£
0.00|
|---|---|---|---|
||||0.00|
**- 10**
## **3. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE**
|**Restricted**||**Tota**||Tota|
|---|---|---|---|---|
||**Unrestricted**|**l**|l||
|**Funds**|**Funds**|**Fund**|Fund||
|||**s**|s||
|||**2021**||2020|
||**£**|**£**||£|
|Community Advancement|||||
|Support costs|0|0||0|
||0|0||0|
||===========|=======|||
||===|====|||
## **Independent Examiner's Report to the members of New Covenant Chapel Trustees**
To the trustees and members of New Covenant Church number 1161634. I report on the accounts for the year ended 31 March 2021, which are set out on pages 7 to 9.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the financial statements under section 145 of the 2011 Act.
- follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act: and
- state whether particular matters have come to my attention.
This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body for my examination work, for this report, or for the statements I have made.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Compassion Hondonga MAAT 34 Britannia Way Norwich
NR5 0UW Date: 26[th] October 2021