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← New Life Community Church Loughborough

2024-03-31-accounts

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ANNUAL REPORT

AND FINANCIAL STATEMENTS

for the year ended 31 March 2024

New Life Community Church Loughborough

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

Charity registration no. 1172260

New Life Community Church Loughborough CONTENTS

Page
Reference and Administrative Information 3
Trustees' Report 4
Statement of Trustees' Responsibilities 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 - 16
Supplementary Information relating to the Financial Statements 18

2

New Life Community Church Loughborough REFERENCE AND ADMINISTRATIVE INFORMATION

Trustees

John-Mark Abbott Anthony Glover Matthew Newton Valentin Nistor

Charity Number in England and Wales

1172260

Principal Address

2 De Montfort Close Loughborough Leicestershire LE11 4RL United Kingdom

Independent Examiner

Tim Oglesby A.C.A. Chartered Accountant Olive House 26 Ward Close Leicester LE2 8NJ

Accountant

Shires Accountants AAT Licensed Accountant Suite G30 Genesis Centre Innovation Way Staffordshire ST6 4BF

Principal Bankers

HSBC Bank PLC 31 Cattle Market Loughborough Leicestershire LE11 3DL

Solicitors

Ellis-Fermor & Negus 2 Devonshire Avenue Beeston Nottingham NG9 1BS

3

New Life Community Church Loughborough TRUSTEES' REPORT

for the financial year ended 31 March 2024

The trustees present their Trustees' Report and the unaudited financial statements for the financial year ended 31 March 2024.

The financial statements are prepared in accordance with the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Trustees' Report contains the information required to be provided in the Trustees' Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees.

In this report the trustees of New Life Community Church Loughborough present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 March 2024.

The charity is a registered charity and although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements.

Financial Review

The results for the financial year are set out on page 9 and additional notes are provided showing income and expenditure in greater detail.

Results and Dividends

At the end of the financial year the charity has assets of £259,901 (2023 - £353,139) and liabilities of £19,703 (2023 - £1,727). The net assets of the charity have decreased by £(111,214).

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.

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

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.

4

continued

New Life Community Church Loughborough TRUSTEES' REPORT

for the financial year ended 31 March 2024

General Overview

This was a year of large change as, after 14 years, our pastor decided it was time to leave, moving overseas for missionary work. This has obviously left a large gap, and we have begun searching for our next pastor. There has been some interest but no major progress so far. We are trusting in God to provide the right man at the right time.

In the meantime, our leadership team consists of one elder and three deacons who continue the task of taking the church forwards. We have benefitted from many visiting speakers on Sunday mornings as well as drawing on internal people. We continue our links with other churches in the Loughborough and Shepshed area and are grateful for the support we have together.

Our work within the community continues through a number of ministries. The Parent and Toddler group remains very popular with relationships between parents developing and friendships being built. Some of the group have met occasionally for social evenings. There is a dedicated core of volunteers committed to running the weekly sessions which recently had 23 adults and 33 children at one session.

Other ministries prove really valuable in meeting a community need whilst enabling confidence and growth through volunteering and friendship. Some volunteers are members of other churches which inspires such work in other areas. We have recently seen volunteers help who are part of training programmes for ministry enabling vital experience whilst developing the next generation of leaders.

We provided our annual free Christmas lunch, entertainment and Christian witness for those whom we have had contact throughout the various ministries, bringing together a wide cross section of our community needing support.

The church attendance continues to transition, with a regular core of members and those who worship with us, alongside visitors.

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 2023/24 the Foodbank helped a total of 5,664 individuals (2023: 5,991) by fulfilling 2,053 vouchers (2023: 2,131). There were 612 unique households (2023: 569).

Our foodbank manager left us this year, along with our family worker. Other members of staff have stepped up to the role of managing the foodbank, but the reduction in staff meant we have had to put our involvement with the "Acts 435" scheme on hold for the time being. The trustees wish to thank both members of staff for their service during their time with us.

A number of changes were made during the year to increase operational efficiency while also meaning more time is made available to speak with clients and assess their needs. Whilst only just started, the evidence shows that this is starting to having a good effect.

Loughborough CAP Debt Centre

During 2023/24 the debt centre was able to provide help to 23 clients (2023: 32) of which 4 went debt free (2023: 4). We have been able to run the CAP Money course to help clients handle money and budgeting even though they may not actually be in debt. Another member of staff has been able to train up as a CAP debt coach to help share the load in this vital work.

Mental Health support

We employ a mental health worker to work alongside and support the other church ministries. They work primarily but not exclusively with clients who use the foodbank and debt help services and are struggling with mental and emotional health issues. Some one-to-one support is provided alongside a 12-week group course from Kintsugi Hope that covers topics such as depression, stress, anxiety and loneliness.

We are grateful to the NHS "Getting Help in Neighbourhoods" project for grant funding to enable this important work to continue.

Property

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

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continued

New Life Community Church Loughborough TRUSTEES' REPORT

for the financial year ended 31 March 2024

Restricted funds

During the year the church closed the restricted funds for the Acts 435 project and Ukraine relief.

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. This amount was increased this year in respect of a large repair bill for the church minibus, used extensively by the foodbank.

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 Christians Against Poverty.

Our mental health support groups are run in partnership with Kintsugi Hope.

Policies

The following policies are held by the church:

Grants and finances

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

It is becoming increasingly difficult to raise funds and we are very grateful to those who regularly donate to our work, especially individuals. We are looking to find ways of making more grant applications, but the number of grants available for ongoing work (rather than starting new projects) seems to have diminished. The trustees are considering the implications of this and trying to find the best way forwards with all the projects that are having such benefits to the local community.

Approved by the Board of Trustees on 22 January 2025 and signed on its behalf by:

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_____Matthew Newton _____Anthony Glover Trustee Trustee

6

New Life Community Church Loughborough STATEMENT OF TRUSTEES' RESPONSIBILITIES

for the financial year ended 31 March 2024

The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations.

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the assets, liabilities and financial position of the charity as at the financial year end date and of the surplus or deficit of the charity and otherwise comply with the Charities Act 2011.

In preparing these financial statements, the trustees are required to:

The trustees confirm that they have complied with the above requirements in preparing the financial statements.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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. They 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.

Approved by the Board of Trustees on 22 January 2025 and signed on its behalf by:

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_____ _____ Matthew Newton Anthony Glover Trustee Trustee

7

(HARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of New Life Community Church On accounts for the year tnded 3181 March 2024 Charity no (if any) 1172260 I report to the trustees on my examination of the accounts of the above charily (llhe Trust.) forthe year ended 31 $1 March 2024. R￿pOnSIbIlItIeS and sis of rnport As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('Ihe Act.). I report in respect of my examination of 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 Charrty Commission under section 145(5){b) of the Act. Independent I have completed my examination. I confimi that no material matters have examinarfs statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. the aGcounting records We￿ not kept in accordance with section 130 of the Charities Act,. or the accounts did not accord with the accounting records. or the a¢t>)unts did not comply with the applicable wu1￿Ments con￿mIng the fo￿ and content of accounts set out in the Charities {Accounls and Reports) Regulations 2008 other than any ￿qUIrernent that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no cOn￿mS arKI 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. Dat•: Slgn•d: Iikn Oa 10" January 2025 Nam•: Tim Oglesby R•l•vant profosslonal qualllkatlonls) or body: ACA (Institute of Chartered Accountants in England & Wales). 1987-2019 Olive House, 26 Ward C108e Leicester LE2 8NJ Addr•••: Oct 2018

New Life Community Church Loughborough STATEMENT OF FINANCIAL ACTIVITIES

for the financial year ended 31 March 2024

Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
2024 2024 2024 2023 2023 2023
Notes
£		 £ £ £ £ £
Income
Donations and legacies 4.1
46,840		 42,856 89,696 46,877 121,362 168,239
Other income 4.2
3,060		 42,887 45,947 6,360 163,505 169,865
─────── ─────── ─────── ─────── ─────── ───────
Total income 49,900 85,743 135,643 53,237 284,867 338,104
─────── ─────── ─────── ─────── ─────── ───────
Expenditure
Charitable activities 5.1
54,115		 192,742 246,857 56,290 190,782 247,072
─────── ─────── ─────── ─────── ─────── ───────
Net income/(expenditure) (4,215) (106,999) (111,214) (3,053) 94,085 91,032
Transfers between funds 7,500 (7,500) - 40,094 (40,094) -
─────── ─────── ─────── ─────── ─────── ───────
Net movement in funds 3,285 (114,499) (111,214) 37,041 53,991 91,032
for the financial year
Reconciliation of funds:
Total funds beginning of the 15
150,889		 200,523 351,412 113,848 146,532 260,380
year
─────── ─────── ─────── ─────── ─────── ───────
Total funds at the end of 154,174 86,024 240,198 150,889 200,523 351,412
the year
═══════ ═══════ ═══════ ═══════ ═══════ ═══════

The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities.

The notes on pages 11 to 16 form part of the financial statements

9

New Life Community Church Loughborough BALANCE SHEET

as at 31 March 2024

2024 2023
Notes £ £
Fixed Assets
Tangible assets 10 **137,307 ** 139,472
─────── ───────
Current Assets
Debtors 11 19,863 2,002
Cash at bank and in hand **102,731 ** 212,012
─────── ───────
122,594 214,014
─────── ───────
Creditors: Amounts falling due within one year 12 (19,703) (2,074)
─────── ───────
Net Current Assets 102,891 211,940
─────── ───────
Total Assets less Current Liabilities 240,198 351,412
═══════ ═══════
Funds
Restricted trust funds 86,024 200,523
General fund (unrestricted) **154,174 ** 150,889
─────── ───────
Total funds 15 240,198 351,412
═══════ ═══════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", applying Section 1A of that Standard.

Approved by the Board of Trustees and authorised for issue on 22 January 2025 and signed on its behalf by

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_____ _____ Matthew Newton Anthony Glover Trustee Trustee

The notes on pages 11 to 16 form part of the financial statements

10

New Life Community Church Loughborough NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024

1. GENERAL INFORMATION

New Life Community Church Loughborough is a charity incorporated in England. The registered office of the charity is 2 De Montfort Close, Loughborough, Leicestershire, LE11 4RL, United Kingdom which is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.

Basis of preparation

The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard.

As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP.

Statement of compliance

The financial statements of the charity for the financial year ended 31 March 2024 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard.

Fund accounting

The following are the categories of funds maintained:

Restricted funds

Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity.

Unrestricted funds

Unrestricted funds consist of General and Designated funds.

□ General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity.

□ Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund.

Income

Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity.

Income from charitable activities

Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors.

Grants from governments and other co-funders typically include one of the following types of conditions:

□ Performance based conditions: whereby the charity is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by

11

continued

New Life Community Church Loughborough NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2024

the donor, as income.

□Time based conditions: whereby the charity is contractually entitled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within the period specified in the agreement.

In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entitlement.

Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable, whichever is earlier.

Expenditure

Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:

Land and buildings freehold - no depreciation
Fixtures, fittings and equipment - 25% straight line
Motor vehicles - 25% reducing balance

Debtors

Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agencies and other co-funders, but not yet received at financial year end, is included in debtors.

Cash at bank and in hand

Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal.

Taxation and deferred taxation

No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the charity's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. PROVISIONS AVAILABLE FOR AUDITS OF SMALL ENTITIES

In common with many other charity of our size and nature, we use our auditors to assist with the preparation of the financial statements.

4. INCOME
4.1 DONATIONS AND LEGACIES Unrestricted Restricted 2024 2023
Funds Funds
£ £ £ £
Donations and legacies 46,840 42,856 89,696 168,239
═══════ ═══════ ═══════ ═══════

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New Life Community Church Loughborough NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2024

4.2 OTHER INCOME Unrestricted Restricted 2024 2023
Funds Funds
£ £ £ £
Other income 3,060 42,887 45,947 169,865
═══════ ═══════ ═══════ ═══════
5. EXPENDITURE
5.1 CHARITABLE ACTIVITIES Direct Other Support 2024 2023
Costs Costs Costs
£ £ £ £ £
Governance Costs (Note 5.2) 10,205 46,305 190,347 246,857 247,072
═══════ ═══════ ═══════ ═══════ ═══════
5.2 GOVERNANCE COSTS Direct Other Support 2024 2023
Costs Costs Costs
£ £ £ £ £
Charitable activities - governance 10,205 46,305 190,347 246,857 247,072
costs
═══════ ═══════ ═══════ ═══════ ═══════
5.3 SUPPORT COSTS Governance 2024 2023
Costs
£ £ £
Support 190,347 190,347 -
═══════ ═══════ ═══════
6. ANALYSIS OF SUPPORT COSTS
2024 2023
£ £
Support 190,347 -
═══════ ═══════
7. NET INCOME 2024 2023
£ £
Net Income is stated after charging/(crediting):
Depreciation of tangible assets 2,915 1,905
═══════ ═══════
8. INVESTMENT AND OTHER INCOME 2024 2023
£ £
Bank interest 3,060 760
Other interest - 27
─────── ───────
3,060 787
═══════ ═══════

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New Life Community Church Loughborough NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2024

9. EMPLOYEES AND REMUNERATION

Number of employees

The average number of persons employed (including executive trustees) during the financial year was as follows:

2024 2023
Number Number
Employees 6 8
═══════ ═══════
The staff costs (inclusive of trustees' salaries) comprise: 2024 2023
£ £
Wages and salaries 133,350 148,083
Social security costs 4,771 5,010
Pension costs 2,614 3,221
─────── ───────
140,735 156,314
═══════ ═══════
10. TANGIBLE FIXED ASSETS
Land and Fixtures, Motor Total
buildings fittings and vehicles
freehold equipment
£ £ £ £
Cost
At 1 April 2023 129,619 40,217 7,200 177,036
Additions - 750 - 750
─────── ─────── ─────── ───────
At 31 March 2024 129,619 40,967 7,200 177,786
─────── ─────── ─────── ───────
Depreciation
At 1 April 2023 - 33,401 4,163 37,564
Charge for the financial year - 2,156 759 2,915
─────── ─────── ─────── ───────
At 31 March 2024 - 35,557 4,922 40,479
─────── ─────── ─────── ───────
Net book value
At 31 March 2024 129,619 5,410 2,278 137,307
═══════ ═══════ ═══════ ═══════
At 31 March 2023 129,619 6,816 3,037 139,472
═══════ ═══════ ═══════ ═══════
11. DEBTORS 2024 2023
£ £
Trade debtors 17,972 -
Taxation and social security costs (Note 13) - 347
Prepayments and accrued income 1,891 1,655
─────── ───────
19,863 2,002
═══════ ═══════
12. CREDITORS 2024 2023
Amounts falling due within one year £ £
Trade creditors - 278
Accruals and deferred income:
Pension accrual 413 674
Other accruals 19,290 1,122
─────── ───────
19,703 2,074
═══════ ═══════

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New Life Community Church Loughborough NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2024

13. TAXATION AND SOCIAL SECURITY TAXATION AND SOCIAL SECURITY 2024 2023
£ £
Debtors:
PAYE / NI - 347
═══════ ═══════
14. RESERVES
2024 2023
£ £
At the beginning of the year 351,412 260,380
(Deficit)/Surplus for the financial year (111,214) 91,032
─────── ───────
At the end of the year 240,198 351,412
═══════ ═══════
15. FUNDS
15.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Total
Funds Funds Funds
£ £ £
At 1 April 2022 113,848 146,532 260,380
Movement during the financial year 37,041 53,991 91,032
─────── ─────── ───────
At 31 March 2023 150,889 200,523 351,412
Movement during the financial year 3,285 (114,499) (111,214)
─────── ─────── ───────
At 31 March 2024 154,174 86,024 240,198
═══════ ═══════ ═══════
15.2 ANALYSIS OF MOVEMENTS ON FUNDS
Balance Income Expenditure Transfers Balance
1 April between 31 March
2023 funds 2024
£ £ £ £ £
Restricted funds
Restricted - Building 32,486 - 1,467 - 31,019
Restricted - CAP 10,613 759 5,665 - 5,707
Restricted - Foodbank 72,847 30,663 62,864 (7,500) 33,146
Restricted - Grants 84,501 42,887 111,236 - 16,152
Restricted - Other 76 11,434 11,510 - -
─────── ─────── ─────── ─────── ───────
200,523 85,743 192,742 (7,500) 86,024
─────── ─────── ─────── ─────── ───────
Unrestricted funds
Unrestricted General 150,889 49,900 54,115 7,500 154,174
─────── ─────── ─────── ─────── ───────
Total funds 351,412 135,643 246,857 - 240,198
═══════ ═══════ ═══════ ═══════ ═══════
15.3 ANALYSIS OF NET ASSETS BY FUND
Fixed Current Current Total
assets assets liabilities
- charity use
£ £ £ £
Restricted trust funds - 103,996 (17,972) 86,024
─────── ─────── ─────── ───────
Unrestricted general funds 137,307 18,598 (1,731) 154,174
─────── ─────── ─────── ───────
137,307 122,594 (19,703) 240,198
═══════ ═══════ ═══════ ═══════

15

continued

New Life Community Church Loughborough NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2024

16. TRUSTEES' REMUNERATION 2024 2023
£ £
Remuneration including pension contributions 37,149 44,279
37,149 44,279
═══════ ═══════

17. POST-BALANCE SHEET EVENTS

There have been no significant events affecting the Charity since the financial year-end.

16

NEW LIFE COMMUNITY CHURCH LOUGHBOROUGH

SUPPLEMENTARY INFORMATION

RELATING TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

17

New Life Community Church Loughborough SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

Operating Statement

for the financial year ended 31 March 2024

2024 2023
£ £
Income **132,583 ** 337,344
─────── ───────
Expenses
Wages and salaries (including trustees' remuneration) **133,350 ** 148,083
Social security costs 4,771 5,010
Directors'/trustees' defined contribution pension costs 1,023 1,648
Staff defined contribution pension costs 1,591 1,573
Staff training 166 849
Rent payable 5,040 17,999
Rates 430 256
Insurance 1,819 1,766
Light and heat 5,165 1,642
Cleaning - 41
Repairs and maintenance 29,768 5,034
Printing, postage and stationery 592 1,466
Advertising 472 1,200
Telephone 865 912
Computer costs 449 449
Motor expenses 5,090 4,089
Travelling and entertainment 516 881
Legal and professional 288 90
Consultancy fees - 900
Accountancy 1,790 1,694
Bank charges 189 151
General expenses 43,098 34,596
Subscriptions - 145
Depreciation 2,915 1,905
Charitable donations 7,470 14,720
─────── ───────
**246,857 ** 247,099
─────── ───────
Miscellaneous income
Other interest - 27
Bank interest 3,060 760
─────── ───────
3,060 787
─────── ───────
Net (deficit)/surplus (111,214) 91,032
═══════ ═══════

The supplementary information does not form part of the financial statements

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