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2023-03-31-accounts

ANNUAL REPORT

AND FINANCIAL STATEMENTS

for the year ended 31 March 2023

New Life Community Church Loughborough

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

Charity registration no. 1172260

New Life Community Church Loughborough

Contents

Independent Examiner’s Report
Reference and Administrative Details 1
Trustees' Report 2 to 5
Statement of Trustees' Responsibilities 6
Accountants' Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 19

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusleesl members of New Life Community Church 31° March 2023 On accounts for the year ended Charity no (if any} 1172260 I report lo the Iruslees on my examination of the accounts of the above charity {"the Trust") for the year ended 315t March 2023. Responsibilities and basis of report As the charity's trustees, you are responsible lor the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {"the Act.). I report in respect of my examination ol the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515llbl ol the Act. Independent I have completed my examinalion. I confirm thal no material matters have examiner's statement come to my atiention in Gonnection wilh Ihe examinalion which gives me Cause to believe that in, any malerial respec1= the accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts did not accord with the accounting records., or the accounts did nol comply with the applicable requirements concerning ihe form and contenl ol accounts set out in Ihe Charities (Accounts and Reports) Regulations 2008 other than any requiremenl that the accounts give a 'true and fair, view which is nol a matter considered as part ol an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in Ihis report in order lo enable a proper understanding of the accounts to be reached. /i,, O Date: 29th January 2024 Signed: Name: Tim Oglesby Relevant professlonal qualification(s) or body: ACA {Institute ol Chartered Accounlants in England & Wales), 1987-2019 Olive House, 26 Ward Close Leicester LE2 8NJ Address: IER Oct 2018

New Life Community Church Loughborough

Reference and Administrative Details

Chairman T Allin Trustees J-M Abbott A Glover M C Newton V Nistor 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 26 Ward Close Leicestershire LE2 8NJ 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

The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2023.

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. A job club is now also running to help foodbank and debt centre clients back in to work.

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

Foodbank parcels are distributed based on a voucher system. The vouchers are issued by partner referral agencies. Each emergency food parcel given to a family household is designed to provide enough food for three days.

During 2022/23 the Foodbank helped a total of 5,991 individuals (2022: 5,012) by fulfilling 2,131 vouchers (2022: 1,679). There were 569 unique households (2022: 446).

Loughborough CAP Debt Centre

During 2022/23 the debt centre was able to provide help to 32 clients (2022: 30) of which 4 went debt free (2022: 5).

Page 2

New Life Community Church Loughborough

Trustees' Report (continued)

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:

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.

An adjustment has been made to the restricted fund balance. This is to correct an error that was introduced in the previous year having changed accounting software.

Associations and partnerships

The church is a member of the Fellowship of Independent Evangelical Churches (FIEC), 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 continued. During this year the leadership team initially dropped to two elders and one deacon following one elder stepping down. Two more deacons subsequently joined the team to strengthen its work.

Our pastor took a much needed sabbatical from June to August following the increased workload during the COVID pandemic. During this time he visited Ukraine to offer encouragement and support. Another pastor, Aaron Johnson, was able to offer help with some of the Sunday services and the church was supported with visiting speakers from a number of other churches.

The church officially opened the conservatory extension on 4th September, with many positive comments. The area provides much needed meeting space for various ministries and activities, and can be divided from the main hall by folding doors. It has allowed life skill courses and one to one meetings to take place whilst others areas of the church are being used. It has also benefitted capacity on Sundays.

Page 3

New Life Community Church Loughborough

Trustees' Report (continued)

Numbers attending church services have fluctuated widely over the year, from lightely attended to full. The building continues to be a hub for many using the various ministries during the week.

Policies

The following policies are held by the church

Grants

During 2022/23 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 4

New Life Community Church Loughborough

Trustees' Report (continued)

30/1/2024 The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

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

Page 5

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.

30/1/2024

Approved by the trustees of the charity on .................... and signed on its behalf by:

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

Page 6

Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of New Life Community Church Loughborough for the Year Ended 31 March 2023

In accordance with instructions given to us, under our letter of engagement, we have prepared, without audit, the financial statements of New Life Community Church Loughborough for the year ended 31 March 2023 as set out on pages 8 to 19. The financial statements of the company comprise the Statement of Financial Activities, the Balance Sheet, and the related notes to the financial statements.

The financial statements have been prepared from the charity's accounting records and from information and explanations presented to us. The financial reporting framework which has been applied in their preparation is described in the accounting policies note.

This report is made solely to the Board of Trustees of New Life Community Church Loughborough, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of New Life Community Church Loughborough and state those matters that we have agreed to state to the Board of Trustees of New Life Community Church Loughborough. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than New Life Community Church Loughborough and its Board of Trustees as a body for our work or for this report.

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), Compilation Engagements. We have applied our expertise in accounting and financial reporting to assist the trustees in the preparation and presentation of these financial statements on the basis of accounting policies described in note 1 to the financial statements. These financial statements and the accuracy and completeness of the information used to compile them is the responsibility of the trustees as set out in the on page 6.

It is your duty to ensure that New Life Community Church Loughborough has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of New Life Community Church Loughborough. You consider that New Life Community Church Loughborough is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of New Life Community Church Loughborough. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

PQR Limited t/a Shires Accountants AAT Licenced Accountant Stapeley House London Road Nantwich Cheshire CW5 7JW Date:.............................

Page 7

New Life Community Church Loughborough

Statement of Financial Activities for the Year Ended 31 March 2023

Note
Income and Endowments from:
Donations and legacies
Investment income
3
Other income
Total income
Expenditure on:
Charitable activities
Other expenditure
6
Total expenditure
Net (expenditure)/income
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
13
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
13		 Unrestricted
funds
£
46,877
760
5,600
53,237
(56,317)
27
(56,290)
(3,053)
40,094
37,041
113,848
150,889
Unrestricted
funds
£
63,037
11
5,600
68,648
(65,334)
(65,334)
3,314
3,314
110,535
113,849		 Restricted
funds
£
284,867
-
-
284,867
(190,782)
-
(190,782)
94,085
(40,094)
53,991
146,532
200,523
Restricted
funds
£
177,395
-
-
177,395
(118,434)
(118,434)
58,961
58,961
87,572
146,533		 Total
2023
£
331,744
760
5,600
338,104
(247,099)
27
(247,072)
91,032
-
91,032
260,380
351,412
Total
2022
£
240,432
11
5,600
246,043
(183,768)
(183,768)
62,275
62,275
198,107
260,382

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 13.

The notes on pages 10 to 19 form an integral part of these financial statements. Page 8

New Life Community Church Loughborough

(Registration number: 1172260) Balance Sheet as at 31 March 2023

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: Amounts falling due within one year
12
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
13		 2023
£
139,472
2,002
212,012
214,014
(2,074)
211,940
351,412
200,523
150,889
351,412		 2022
£
110,446
19,799
181,178
200,977
(51,041)
149,936
260,382
146,533
113,849
260,382

The financial statements on pages 8 to 19 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:30/1/2024

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

The notes on pages 10 to 19 form an integral part of these financial statements. Page 9

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2023

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.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

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.

Page 10

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

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.

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 11

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

Trade creditors

are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 12

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2023 (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.

Page 13

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 14

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

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 2023
Total for 2022		 Unrestricted
funds
General
£
40,663
6,214
-
46,877
63,037		 Restricted
funds
£
116,467
4,895
163,505
284,867
177,395		 Total
funds
£
157,130
11,109
163,505
331,744
240,432

3 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
760
760
11		 Total
funds
£
760
760
11

Page 15

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

4 Other income

Rental income
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
5,600
5,600
5,600		 Total
funds
£
5,600
5,600
5,600

5 Expenditure on charitable activities

Note
Governance costs
Total for 2022		 Unrestricted
funds
General
£
56,317
65,334		 Restricted
funds
£
190,782
118,434		 Total
funds
£
247,099
183,768
6
Other expenditure
Note
Allocated support costs
Total for 2023		 Unrestricted
funds
General
£
(27)
(27)		 Total
expenditure
£
Total
funds
£
(27)
(27)

7 Analysis of governance and support costs

Governance costs

Allocated support costs
Total for 2023
Total for 2022
Page		 Unrestricted
funds
General
£
56,317
56,317
65,334
16		 Restricted
funds
£
190,782
190,782
118,434		 Total
funds
£
247,099
247,099
183,768

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

8 Trustees remuneration and expenses

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

T Allin

T Allin received remuneration of £19,586 (2022: £17,336) during the year.

The trustee is part of the employer's pension scheme, of which £1,080.00 (2022: £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 £25,735 (2022: £21,703) and £Nil (2022: £623) of expenses were reimbursed to J-M Abbott during the year.

The trustee is part of the employer's workplace pension scheme, of which £567.84 (2022: £450.98) 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.

Page 17

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

9 Taxation

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

10 Tangible fixed assets

Land and
buildings
£
Cost
At 1 April 2022
105,370
Additions
24,249
At 31 March 2023
129,619
Depreciation
At 1 April 2022
-
Charge for the year
-
At 31 March 2023
-
Net book value
At 31 March 2023
129,619
At 31 March 2022
105,370
11 Debtors
Trade debtors
Prepayments
Other debtors
12 Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals		 Office
equipment
£
33,535
6,682		 Motor vehicles
£
7,200
-
7,200
3,150
1,013
4,163
3,037
4,050
2023
£
-
1,656
346
2,002
2023
£
277
675
1,122
2,074		 Motor vehicles
£
7,200
-
7,200
3,150
1,013
4,163
3,037
4,050
2023
£
-
1,656
346
2,002
2023
£
277
675
1,122
2,074		 Total
£
146,105
30,931
177,036
35,659
1,905
37,564
139,472
110,446
2022
£
17,972
1,507
320
40,217 7,200
32,509
892		 3,150
1,013
33,401 4,163
6,816 3,037
1,026 4,050
2023
£
-
1,656
346
2,002
2023
£
277
675
1,122
2,074
19,799
2022
£
-
184
50,857
51,041

Page 18

New Life Community Church Loughborough

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

13 Funds

13 Funds
Unrestricted funds
General
Restricted funds
Total funds
Unrestricted funds
General
Restricted funds
Total funds		 Balance at 1
April 2022
£
Incoming
resources
£
Resources
expended
£
Transfers
£
Balance at
31 March
2023
£
113,848
53,237
(56,290)
40,094
150,889
146,532
284,867
(190,782)
(40,094)
200,523
260,380
338,104
(247,072)
-
351,412
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
31 March
2023
£
150,889
200,523
351,412
260,382

Page 19

New Life Community Church Loughborough

Statement of Financial Activities by fund for the Year Ended 31 March 2023

Income and Endowments from:
Donations and legacies
Investment income
Other income
Total income
Expenditure on:
Charitable activities
Other expenditure
Total expenditure
Net (expenditure)/income
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted
Funds
2023
£
46,877
760
5,600
53,237
(56,317)
27
(56,290)
(3,053)
40,094
37,041
113,848
150,889		 Total
Unrestricted
Funds
2022
£
63,037
11
5,600
68,648
(65,334)
-
(65,334)
3,314
-
3,314
110,535
113,849

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

New Life Community Church Loughborough

Statement of Financial Activities by fund for the Year Ended 31 March 2023 (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
2023
£
284,867
284,867
(190,782)
(190,782)
94,085
(40,094)
53,991
146,532
200,523		 Total
Restricted
Funds
2022
£
177,395
177,395
(118,434)
(118,434)
58,961
-
58,961
87,572
146,533

This page does not form part of the statutory financial statements. Page 21

New Life Community Church Loughborough

Detailed Statement of Financial Activities for the Year Ended 31 March 2023

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)
Other expenditure (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2023
£
331,744
760
5,600
338,104
(247,099)
27
(247,072)
91,032
91,032
260,380
351,412		 Total
2022
£
240,432
11
5,600
246,043
(183,768)
-
(183,768)
62,275
62,275
198,107
260,382

This page does not form part of the statutory financial statements. Page 22

New Life Community Church Loughborough

Detailed Statement of Financial Activities for the Year Ended 31 March 2023 (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
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
Trustees pensions (Defined contribution) - pension scheme 1
Staff training
Staff training
Travelling
Travelling
Rent and rates
Rent
Rent
Rates
Light, heat and power
Insurance
Repairs and renewals
Repairs and renewals
Equipment repairs and renewals		 Total
2023
£
116,467
40,663
4,895
6,214
163,505
331,744
760
760
5,600
5,600
(104,410)
(3,249)
(26,210)
(17,463)
(1,065)
(696)
(1,574)
-
(519)
(1,128)
(520)
(329)
(196)
(686)
(12,063)
(5,600)
(336)
(256)
(1,642)
(1,766)
(1,163)
(1,324)
(2,189)		 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)

This page does not form part of the statutory financial statements. Page 23

New Life Community Church Loughborough

Detailed Statement of Financial Activities for the Year Ended 31 March 2023 (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
Advertising
Advertising
Accountancy fees
Accountancy fees
Consultancy fees
Consultancy fees
Legal and professional fees
Bank charges
Bank charges
Depreciation of motor vehicles
Depreciation of office equipment
Depreciation of office equipment
Other expenditure
Bank charges		 Total
2023
£
(356)
(333)
(579)
(26,730)
(7,865)
(131)
(319)
(1,022)
(445)
(145)
(14,190)
(530)
(41)
(4,089)
(445)
(755)
(500)
(1,194)
(390)
(510)
(90)
(1)
(150)
(1,012)
(345)
(548)
(247,099)
27
27		 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)
-
-

This page does not form part of the statutory financial statements. Page 24