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2022-03-31-accounts

ANNUAL REPORT

AND FINANCIAL STATEMENTS

for the year ended 31 March 2022

New Life Community Church Loughborough

2 De Montfort Close, Loughborough, Leicestershire, LE11 4RL

Charity registration no. 1172260

New Life Community Church Loughborough

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 4
Statement of Trustees' Responsibilities 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 15

New Life Community Church Loughborough

Reference and Administrative Details

Chairman T Allin Trustees J-M Abbott A Glover N Whitesmith Charity Registration Number 1172260 Principal Office 2 De Montfort Close Loughborough Leicestershire LE11 4RL Independent Examiner Tim Oglesby A.C.A. Chartered Accountant Olive House 3 Springfield Road Hinckley Leicestershire LE10 1AN Accountants PQR Limited t/a Shires Accountants AAT Licenced Accountant Stapeley House London Road Nantwich Cheshire CW5 7JW

Page 1

New Life Community Church Loughborough

Trustees' Report

Charitable objects and public benefit

The advancement of the Christian faith in accordance with the basis of faith primarily but not exclusively within Loughborough and the surrounding neighbourhood; and such other charitable purposes as shall, in the opinion of the members of the church in general meeting further the work of the church.

New Life Community Church (formed 1979) provides public benefit through the advancement of the Christian religion. Worship services are held weekly on Sundays and group meetings held during the week. All meetings are open to members of the public, with the exception of members’ meetings. Details of other public benefit activities are run and detailed below.

Activities and projects

Activities of the church include

The church runs other projects for public benefit in the local community.

A family worker is employed to assist those visiting the foodbank who need more than just food. We have funding to start a job support, helping people get back into work; start date is pending staff appointment.

All the church projects continue to grow and the trustees are thankful to the small but dedicated team of staff and volunteers who enable these vital works to keep running, as well as all those individuals and organisations that support all the varied church work prayerfully and financially.

Loughborough Area Foodbank

During 2021/22 the Foodbank helped a total of 5,012 individuals (2021: 4,936) in 1,679 families (2021: 1,807).

Loughborough CAP Debt Centre

During 2021/22 the debt centre was able to provide help to 30 clients (2021: 25) of which 5 went debt free (2021: 3).

Property

The church has its own building at 2 De Montfort Close, Loughborough, LE11 4RL.

Restricted funds

During the year the church held restricted funds for:

Page 2

New Life Community Church Loughborough

Trustees' Report (continued)

The trustees make a decision each year on an appropriate amount to transfer from some restricted funds to use for general church expenditure, for example insurance, building heating and lighting, and minibus running costs, where these are used by the respective projects.

Associations and partnerships

The church is a member of the Fellowship of Independent Evangelical Churches, a non-denominational association of over 600 churches in the UK with similar beliefs and a common cause.

The Loughborough Area Foodbank is supported by the Trussell Trust.

The church debt centre is run in partnership with Christans Against Poverty.

We partner with Acts 435 to help provide financial aid to those with immediate need.

General overview

The work of the church has been greatly affected during the COVID-19 pandemic, we are thankful that restrictions are now nearly all removed.

All church activities and projects are now back in the building having been run as a combination of on-line and local where appropriate. The building project has largely been on hold, though space is still desperately needed. Especially with people coming back to the building there are no good areas where private discussions, such as food poverty or debt, can be made.

The church was unable to hold a Summer community barbecue or homeless Christmas meal as in previous years. Monthly church lunches are now able to commence again.

Most CAP debt centre work is now back to in-person having been meeting on-line and remote. The Foodbank is back to local collection at the building, though struggling for space.

Policies

The following policies are held by the church

Grants

During 2021/22 we are grateful to have received so many grants and donations which has enabled so many of the church projects to continue. These include the following (* indicates central or local government funding):

Page 3

New Life Community Church Loughborough

Trustees' Report (continued)

Page 4

New Life Community Church Loughborough

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper 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 Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity 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 charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on 27 January 2023 and signed on its behalf by:

......................................... A Glover Trustee

Page 5

CHARITY COMMISSION FOR ENGIAND AND WALES Independent examlner's report on the accounts Iiidopi)iidoiil Exaiiilnor'8 Roport R•poTt ts th• tru•t•MI m•mb•T• ol New Llfe Communlty Church 3111 March 2022 On Kcounts fvr th• y••r •nd•d Charlty no (If any) 1172260 I report to the trustees on my examlnatlon ol the accounts of the above charlty {"th8 Trust") lor the year ended 31 •1 March 2022. As the charlly's truslees, you are responsible for the preparation of the accounts In accordance with the requiremenls of the Charities Act 2011 ('the Acl"). I report In respect of my examination of the Trust's accounls carrled out under secllon 14S of the 2011 Act and in carrying out my examinatlon. I have followed all the applicable Directions given by the Charlty Comrnlsslon under sectlon 145(5)Ib) of the Acl. R•spon$lblllll•8 •nd b•sls ol f•port Indep&ndent I have completed my examlnallon. I confirm that no material matters have examln•r's statement coma to my attention in connection with the examination which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charilles Acl.. or tha accounts did nol accord with the accounting records., or the accounts did not comply with the applicable requirements concernlng the form and content of accounts set out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection wilh the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 1.0 Date: 29" January 2023 Slgn•d: Nam•: TIM Oglesby R•l•vant prof•8•lonal quallficatlon(•) or body: ACA (In8tEiute of Chartered Accountants In England & Wales), 1987-2019 Ollve House. 3 Springfield Road HSnckley. Leic8 LE10 1AN Addr•••: IER Oct 2018

New Life Community Church Loughborough

Statement of Financial Activities for the Year Ended 31 March 2022

Note
Income and Endowments from:
Donations and legacies
Investment income
3
Other income
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12
Note
Income and Endowments from:
Donations and legacies
Investment income
3
Other income
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12		 Unrestricted
funds
£
63,037
11
5,600
68,648
(65,334)
(65,334)
3,314
3,314
110,535
113,849
Unrestricted
funds
£
42,693
24
7,280
49,997
(49,029)
(49,029)
968
9,482
10,450
100,085
110,535		 Restricted
funds
£
177,395
-
-
177,395
(118,434)
(118,434)
58,961
58,961
87,572
146,533
Restricted
funds
£
151,368
-
-
151,368
(84,827)
(84,827)
66,541
(9,482)
57,059
30,513
87,572		 Total
2022
£
240,432
11
5,600
246,043
(183,768)
(183,768)
62,275
62,275
198,107
260,382
Total
2021
£
194,061
24
7,280
201,365
(133,856)
(133,856)
67,509
-
67,509
130,598
198,107

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 12.

The notes on pages 9 to 15 form an integral part of these financial statements. Page 7

New Life Community Church Loughborough

(Registration number: 1172260) Balance Sheet as at 31 March 2022

Note
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: Amounts falling due within one year
11
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
12		 2022
£
110,446
19,799
181,178
200,977
(51,041)
149,936
260,382
146,533
113,849
260,382		 2021
£
103,502
-
94,705
94,705
(100)
94,605
198,107
87,572
110,535
198,107

The financial statements on pages 7 to 15 were approved by the trustees, and authorised for issue on 27 January 2023 and signed on their behalf by:

The notes on pages 9 to 15 form an integral part of these financial statements. Page 8

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2022

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

New Life Community Church Loughborough meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Page 9

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Freehold property No depreciation
Office equipment 25% straight line
Motor vehicles 25% reducing balance

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities 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 charity after deducting all of its liabilities.

Page 10

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
Gift aid reclaimed
Grants, including capital grants;
Grants from other charities
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
56,781
6,256
-
63,037
42,693		 Restricted
funds
£
73,187
8,116
96,092
177,395
151,368		 Total
funds
£
129,968
14,372
96,092
240,432
194,061

3 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
11
11
24		 Total
funds
£
11
11
24

Page 11

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

4 Other income

Rental income
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
5,600
5,600
7,280		 Total
funds
£
5,600
5,600
7,280

5 Expenditure on charitable activities

Note
Governance costs
Total for 2021		 Unrestricted
funds
General
£
65,334
49,029		 Restricted
funds
£
118,434
84,827		 Total
funds
£
183,768
133,856

6 Analysis of governance and support costs

Governance costs

Allocated support costs
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
65,334
65,334
49,029		 Restricted
funds
£
118,434
118,434
84,827		 Total
funds
£
183,768
183,768
133,856

Page 12

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

7 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

T Allin

T Allin received remuneration of £17,336 (2021: £16,136) during the year.

The trustee is part of the employer's pension scheme, of which £1,080.00 (2021: £1,080.00) is included within the remuneration above for employer's contributions made on behalf of the trustee.

J-M Abbott

J-M Abbott received remuneration of £21,703 (2021: £26,026) and £623 (2021: £189) of expenses were reimbursed to J-M Abbott during the year.

The trustee is part of the employer's workplace pension scheme, of which £450.98 (2021: £576.00) is included within the remuneration above for employer's contributions made on behalf of the trustee.

No trustees have received any other benefits from the charity during the year.

8 Taxation

The charity is a registered charity and is therefore exempt from taxation.

9 Tangible fixed assets

Cost
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Freehold
property
£
96,486
8,884
105,370
-
-
-
105,370
96,486		 Office
equipment
£
32,886
649
33,535
31,270
1,239
32,509
1,026
1,616		 Motor vehicles
£
7,200
-
7,200
1,800
1,350
3,150
4,050
5,400		 Total
£
136,572
9,533
146,105
33,070
2,589
35,659
110,446
103,502

Page 13

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

10 Debtors

Trade debtors
Prepayments
Other debtors		 2022
£
17,972
1,507
320
19,799

11 Creditors: amounts falling due within one year

Other creditors
Accruals
12 Funds
Unrestricted funds
General
Restricted funds
Total funds
Unrestricted funds
General
Restricted funds
Total funds		 2022
£
2021
£
184
100
50,857
-
51,041
100
Balance at 1
April 2021
£
Incoming
resources
£
Resources
expended
£
Balance at 31
March 2022
£
110,535
68,648
(65,334)
113,849
87,572
177,395
(118,434)
146,533
198,107
246,043
(183,768)
260,382
Balance at 1
April 2020
£
Incoming
resources
£
Resources
expended
£
Transfers
£
Balance at
31 March
2021
£
100,085
49,997
(49,029)
9,482
110,535
30,513
151,368
(84,827)
(9,482)
87,572
130,598
201,365
(133,856)
-
198,107		 2021
£
100
-		 2021
£
100
-
100
Balance at 31
March 2022
£
113,849
146,533
260,382
Balance at
31 March
2021
£
110,535
87,572
198,107

Page 14

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

13 Analysis of net assets between funds

13 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
110,446
200,977
(51,041)
260,382
Unrestricted
funds
General
£
103,502
94,705
(100)
198,107		 Total funds at
31 March
2022
£
110,446
200,977
(51,041)
260,382
Total funds at
31 March
2021
£
103,502
94,705
(100)
198,107

Page 15

New Life Community Church Loughborough

Statement of Financial Activities by fund for the Year Ended 31 March 2022

Income and Endowments from:
Donations and legacies
Investment income
Other income
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted
Funds
2022
£
63,037
11
5,600
68,648
(65,334)
(65,334)
3,314
-
3,314
110,535
113,849		 Total
Unrestricted
Funds
2021
£
42,693
24
7,280
49,997
(49,029)
(49,029)
968
9,482
10,450
100,085
110,535

This page does not form part of the statutory financial statements. Page 16

New Life Community Church Loughborough

Statement of Financial Activities by fund for the Year Ended 31 March 2022 (continued)

Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Restricted
Funds
2022
£
177,395
177,395
(118,434)
(118,434)
58,961
-
58,961
87,572
146,533		 Total
Restricted
Funds
2021
£
151,368
151,368
(84,827)
(84,827)
66,541
(9,482)
57,059
30,513
87,572

This page does not form part of the statutory financial statements. Page 17

New Life Community Church Loughborough

Detailed Statement of Financial Activities for the Year Ended 31 March 2022

Income and Endowments from:
Donations and legacies (analysed below)
Investment income (analysed below)
Other income (analysed below)
Total income
Expenditure on:
Charitable activities (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2022
£
240,432
11
5,600
246,043
(183,768)
(183,768)
62,275
62,275
198,107
260,382		 Total
2021
£
194,061
24
7,280
201,365
(133,856)
(133,856)
67,509
67,509
130,598
198,107

This page does not form part of the statutory financial statements. Page 18

New Life Community Church Loughborough

Detailed Statement of Financial Activities for the Year Ended 31 March 2022 (continued)

Donations and legacies
Appeals and donations
Appeals and donations
Gift Aid tax reclaimed
Gift Aid tax reclaimed
Grants - other agencies
Investment income
Interest on cash deposits
Other income
Rental income
Charitable activities
Wages and salaries
Wages and salaries
Staff NIC (Employers)
Trustees remuneration
Trustees remuneration
Trustees NIC (Employers)
Trustees NIC (Employers)
Staff pensions (Defined contribution) - pension scheme 1
Staff pensions (Defined contribution) - pension scheme 1
Trustees pensions (Defined contribution) - pension scheme 1
Staff training
Staff training
Travelling
Travelling
Rent and rates
Rent
Rates
Light, heat and power
Insurance
Insurance
Repairs and renewals
Repairs and renewals
Equipment repairs and renewals		 Total
2022
£
73,187
56,781
8,116
6,256
96,092
240,432
11
11
5,600
5,600
(70,722)
-
(2,012)
(11,090)
(22,687)
(99)
(981)
(970)
(56)
(1,565)
(245)
(1,683)
(190)
(571)
(12,281)
(5,600)
(508)
(2,190)
-
(592)
(2,248)
(5,294)
(911)		 Total
2021
£
68,002
35,705
4,900
6,988
78,466
194,061
24
24
7,280
7,280
(53,178)
(18,871)
-
-
-
-
-
-
(2,837)
-
-
-
(686)
(189)
(11,030)
(7,280)
(155)
(1,802)
(895)
(756)
-
(1,176)
-

This page does not form part of the statutory financial statements. Page 19

New Life Community Church Loughborough

Detailed Statement of Financial Activities for the Year Ended 31 March 2022 (continued)

Equipment repairs and renewals
Telephone and fax
Telephone and fax
General expenses
General expenses
Computer software and maintenance costs
Computer software and maintenance costs
Printing, postage and stationery
Printing, postage and stationery
Trade subscriptions
Charitable donations
Charitable donations
Cleaning
Motor expenses
Motor expenses
Advertising
Advertising
Accountancy fees
Consultancy fees
Legal and professional fees
Bank charges
Depreciation of motor vehicles
Depreciation of office equipment
Depreciation of office equipment		 Total
2022
£
(726)
(336)
(579)
(16,161)
(5,955)
(93)
(301)
(296)
(509)
(833)
(7,380)
(780)
(118)
-
(1,806)
(56)
(1,132)
(1,501)
-
(35)
(88)
(1,350)
(25)
(1,213)
(183,768)		 Total
2021
£
-
-
(601)
(10,040)
(3,108)
-
(975)
-
(435)
-
(12,600)
(1,492)
-
(148)
(175)
-
-
(471)
(2,613)
-
(5)
(1,800)
-
(538)
(133,856)

This page does not form part of the statutory financial statements. Page 20