The Charity Registration Number is :- 1174887
New Covenant Church - Wallington
Report and Accounts
31 December 2022
New Covenant Church - Wallington
Trustees' Annual Report for the year ended 31 December 2022
The Trustees presents his Report and Accounts for the year ended 31 December 2022.
Reference and administrative details
The charity name.
The legal name of the charity is:- New Covenant Church - Wallington. The charity is also known by its operating name, New Covenant Church - Wallington.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1174887. .
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales (CCEW) . There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
The trustees are all individuals.
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New Covenant Church - Wallington
Trustees' Annual Report for the year ended 31 December 2022
The principal operating address, telephone number, email and web addresses of the charity are:-
420 Middleton Road Carshalton, Surrey , SM5 1HP
The Trustees in office on the date the report was approved were:-
Olatunde Okoro; Karen Davidson; Simon Ajayi; Oseremen Oboite
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
To advance Christian religion and biblical education for the public benefit, particularly but not exclusively, by providing workshops, conferences and afterschool clubs. The alleviation of poverty within the area of operation, particularly but not exclusively by providing monetary grants and welfare support and service
The main activities undertaken during the year to further the charity's purpose for the public benefit.
We continued to hold regular Sunday church service and all church groups were to meet in person and via Zoom. The church continued to reachout to the wider public via her website on spiritual and physical health, and overall well-being.
The youths, the women and men groups met occasionally, including via Zoom, for separate fellowship to encourage and develop themselves in accordance to God’s plan and purpose. These meetings continue to provide a great opportunity for people to share common issues that maybe gender, age, career or role specific. All our services are open to all people, without charge.
Our walk-in outreach ministry continued to offer and deliver to the Nightwatch Homeless Shelter in Wallington on a 3 hours weekly basis.
We went out on evangelism to share the good news that God loves the world in our local community, we listen and offer prayers for everyone.
The CIO has made contributions to the charity, Feed the hungry as well as provision of gifts for homeless people at Christmas. We also offered financial support to individuals in the church who were in need.
We continue to work towards plans to implement our big ideas for social transformation. Church members were still able to volunteer their time, skills and expertise. The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
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New Covenant Church - Wallington
Trustees' Annual Report for the year ended 31 December 2022
The main achievements and performance of the charity during the year.
A summary of our achievements are as follows:
We have held regular church services and meetings. Pastoral support has and continues to be given by our Pastors.
We have rendered financial support to worthy causes for the benefit of the public. Church workers meetings have been held.
Well being meetings have been held for different church groups. Pastors have held regular meetings.
Trustees have held meetings.
We were able to put in an offer to buy our church building to enable us enhance and do more of our object for the public’s benefit.
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
The current trustees are the first trustees. In making their appointments, the following steps were followed:
The CIO’s governing document is checked to ensure that the new trustees are appointed in a proper and legal way.
Preferred candidates, with the required expertise and skill set, are identified and invited to be the first charity trustees. (Subject to formal vetting and approval by the full trustee board.)
Potential trustees are vetted. Checks are carried out to ascertain candidates have not been disqualified from acting as trustees, and candidates are asked to confirm in writing that this is the case.
Candidates are asked to consider and declare any existing or potential conflicts of interest.
Appropriate checks from the Disclosure and Barring Service are conducted.
In the light of the checks and declarations, the trustees decide to go ahead and formalise the appointment of new trustees.
Trustees meet and make a decision on the appointment of each new Trustee and the office they hold.
All new trustees are given a copy of the CIO’s governing document and all relevant documents and guides from the Charity Commission.
All new trustees are introduced to the church and the office they hold.
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New Covenant Church - Wallington
Trustees' Annual Report for the year ended 31 December 2022
Financial review
The charity's financial position at the end of the year ended 31 December 2022
| Called up share capital Share premium account Designated Revenue Funds Designated Fixed Asset Funds Total Unrestricted Funds Restricted Revenue Funds Restricted Fixed Asset Funds Total Restricted Funds Total Funds Net income Unrestricted revaluation reserve The financial position of the charity at 31 D more fully detailed in the accounts, can be Unrestricted Revenue Funds available for the general purposes of the charity Restricted revaluation reserve |
2022 £ 100,654 ecember 2022 and compara summarised as follows:- |
2021 £ 53,377 tives for the prior period, as |
|---|---|---|
| - | - | |
| - | - | |
| 154,031 - - - |
53,377 - - - |
|
| 154,031 | 53,377 | |
| - - - |
- - - |
|
| - | - | |
| 154,031 | 53,377 |
Financial review of the position at the reporting date, 31 December 2022 .
At the end of December 2022, our savings with HSBC bank was £682,389.84 Our aim remains, to purchase a church building to enable us carry out our objective more effectively. The saved amount is mostly towards the purchase of our building. We made an offer to purchase a church building that was accepted, we have commenced the process of purchase to be completed later this year. Hence we have expenses already made on the purchase of the new Church building. We have also applied for a mortgage towards the purchase. Principal sources of income include regular donations by members of the church and attendees at our meetings through collections, direct bank transfer, standing orders, periodic fund raising, all by voluntary contributions. In the course of the year we commenced raising funds towards the purchase of our Church building as well. We also earn interest paid on our savings account and we make regular
Policies on reserves.
The trustee board is responsible for good governance and we strive to govern well.
Trustees are given an induction session along with going through the CIO’s governing document and all relevant guides from the Charity Commission. The CIO’s governing document and all relevant guides from the Charity Commission are regularly consulted in enabling trustees. New Covenant Church, Wallington, is part of the wider New Covenant Church UK, and trustees have attended meetings organised aimed at supporting and enabling trustees carry out their roles effectively. The CIO consists of 4 trustees. There is a Chair, a Secretary and a Treasurer. New Covenant Church, Wallington consists of a leadership team of four Pastors. Within the church, there are 18 departments and committees, with each having a head of department. The various departments and committees include the Pastoral Team, Choir, Welfare, Children Department, Youths, Young Adults, Ushers, Technical Team, Prayer and Intercessory Team, Welcome and Follow Up Team, Covenant Men, Covenant Women, Evangelism, Finance, Discipleship Team, Party In The Park Committee, Building Committee and the Outreach Ministry (namely Benefit Advice). New Covenant Church, Wallington is part of New Covenant Church UK, with a signed document of association and collaboration. To identify, assess and manage risks to the CIO, the trustees have adopted a risk management policy and also use the framework suggested by the Charity Commission CC26. The CIO has public liability and indemnity insurance policy up to date.
Details of The Independent Examiner
Theo Sehindemi
Member of Accountant 148 Sandy Lane South Wallington Surrey SM6 9NR
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New Covenant Church - Wallington
Trustees' Annual Report for the year ended 31 December 2022
Statement of Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
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to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
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state whether applicable accounting standards and statements of
recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under 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.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
This report was approved by the board of trustees on 5 September 2023.
Oseremen Oboite Trustee
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New Covenant Church - Wallington
Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 31 December 2022
I report to the Trustees on my examination of the financial statements of the charity on pages 12 to 20 for the year ended 31 December 2022 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 19.
Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report
As described on page 9, you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent Examiner's Statement and scope of work undertaken
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
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New Covenant Church - Wallington
Independent Examiner's Statement, Report and Opinion
Attention is drawn to the accounting policy stating that, notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, and in order to accord with current best practice, the Trustees have determined to prepare the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), . I concur with this approach, and any references in my report to the regulations should be read subject to this comment.
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Signed:-
Theo Sehindemi - Independent Examiner
Accountant
148 Sandy Lane South Wallington Surrey SM6 9NR
This report was signed on 5 September 2023
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New Covenant Church - Wallington - Statement of Financial Activities for the year ended 31 December 2022
Statement of Financial Activities for the year ended 31 December 2022
| Income & Endowments from: Donations & Legacies Charitable activities Total income Expenditure on: Raising funds Charitable activities Other Tax on surplus on ordinary activities Other taxation Total expenditure Net gains on investments Net income for the year Transfers between funds Net income after transfers Other recognised gains/(losses) Reconciliation of funds:- Total funds brought forward Total funds carried forward Net movement in funds |
Current year Unrestricted Funds 2022 £ 153,158 - 153,158 - 52,504 - - - 52,504 - 100,654 - 100,654 100,654 53,377 154,031 |
Current year Restricted Funds 2022 £ - - - - - - - - - - - - - - - - |
Current year Total Funds 2022 £ 153,158 - 153,158 - 52,504 - - - 52,504 - 100,654 - 100,654 100,654 53,377 154,031 |
Prior Year Total Funds 2021 £ 91,960 - |
|---|---|---|---|---|
| 91,960 | ||||
| - 38,583 - - - |
||||
| 38,583 | ||||
| - | ||||
| 53,377 - |
||||
| 53,377 | ||||
| 53,377 - |
||||
| 53,377 |
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New Covenant Church - Wallington - Statement of Financial Activities for the year ended 31 December 2022
Last year's SOFA - Analysis required by 4.2 of the SORP
| Income & Endowments from: Donations & Legacies Charitable activities Total income Expenditure on: Raising funds Charitable activities Other Tax on surplus on ordinary activities Other taxation Total expenditure Net income for the year Net income after transfers Other recognised gains/(losses) Reconciliation of funds:- Total funds brought forward Total funds carried forward SORP Ref Net movement in funds |
Prior Year Unrestricted Funds 2021 £ 91,960 - 91,960 - 38,583 - - - 38,583 53,377 53,377 - 53,377 - 53,377 |
Prior Year Restricted Funds 2021 £ - - - - - - - - - - - - - - - - |
Prior Year Total Funds 2021 £ 91,960 - 91,960 - 38,583 - - - 38,583 53,377 53,377 - 53,377 - |
|---|---|---|---|
| 53,377 |
All activities derive from continuing operations
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New Covenant Church - Wallington - Statement of Financial Activities for the year ended 31 December 2022
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New Covenant Church - Wallington - Statement of Financial Activities for the year ended 31 December 2022
Statement of application of resources
New Covenant Church - Wallington - Resources applied in the year ended 31 December 2022 towards fixed assets for Charity use:-
| 2022 towards fixed assets for Charity use:- | ||
|---|---|---|
| Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Net resources available to fund charitable activities |
2022 £ 100,654 (700) 99,954 |
2021 £ 53,377 - |
| 53,377 |
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New Covenant Church - Wallington - Statement of Financial Activities for the year ended 31 December 2022
Movements in funds
Movements in revenue and capital funds for the year ended 31 December 2022
Revenue accumulated funds
| Accumulated funds brought forward Closing revenue funds Recognised gains and losses before transfers |
Unrestricted Funds 2022 £ 53,377 100,654 154,031 154,031 |
Restricted Funds 2022 £ - - - - |
Total Funds 2022 £ 53,377 100,654 154,031 154,031 |
Last year Total Funds 2021 £ - 53,377 53,377 53,377 |
|---|---|---|---|---|
| Summary of Funds | ||||
| Summary of funds Unrestricted and Designated funds 2022 £ Share capital and share premium - Revenue accumulated funds 154,031 Total funds 154,031 |
Restricted Funds 2022 £ - - - |
Total Funds 2022 £ - 154,031 154,031 |
Last Year Total Funds 2021 £ - 53,377 53,377 |
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New Covenant Church - Wallington - Statement of Financial Activities for the year ended 31 December 2022
Income and Expenditure account
New Covenant Church - Wallington
Income and Expenditure Account for the year ended 31 December 2022 as required by the Companies Act 2006
| Income Income from operations Refunds from HMRC on gift aided donations Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Fundraising costs Governance costs Other expenditure Interest payable Total expenditure in the year Extraordinary items Tax on surplus on ordinary activities Gift Aid donations made Retained surplus for the financial year Net income after tax in the financial year Net income before tax in the financial year |
2022 £ 153,158 - 153,158 153,158 48,284 140 - 4,080 - - 52,504 - 100,654 - 100,654 - 100,654 |
2021 £ 91,960 - |
|---|---|---|
| 91,960 | ||
| 91,960 | ||
| 35,083 - - 3,500 - - |
||
| 38,583 | ||
| - | ||
| 53,377 - |
||
| 53,377 - |
||
| 53,377 |
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
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New Covenant Church - Wallington - Balance Sheet as at 31 December 2022
| Fixed assets Intangible assets Tangible assets Heritage assets Investments held as fixed assets Social investments Total fixed assets Current assets Debtors Cash at bank and in hand Total current assets |
133,023 20,448 |
2022 2021 £ £ - - 560 - - - - - - - 560 - 53,377 - 53,377 |
|---|---|---|
| 153,471 | ||
| Creditors: amounts falling due within one year Net current assets Creditors: amounts falling due after more than one year Provisions for contingent assets The total net assets of the charity Defined benefit pension scheme assets Net assets Net assets |
- | - 153,471 53,377 - - - - - - - - - - 154,031 53,377 |
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New Covenant Church - Wallington - Balance Sheet as at 31 December 2022
The total net assets of the charity are funded by the funds of the charity, as follows:-
Restricted funds
| Restricted Revenue Funds Restricted Fixed Asset Funds Restricted Revaluation Reserve Unrestricted Funds Called up share capital Share premium Unrestricted Revenue Funds Unrestricted Revaluation Reserve Designated Funds Designated Revenue Funds Designated Fixed Asset Funds Pension reserve Total charity funds |
- - - |
- - - - - - 53,377 - 154,031 53,377 - - - - 154,031 53,377 |
|---|---|---|
| - - 154,031 - |
||
| - - |
||
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 11.
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
Oseremen Oboite
Trustee Approved by the board of trustees on 5 September 2023
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