REGISTERED CHARITY NUMBER: 1174979
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2022
for
New Covenant Church - Camberwell
New Covenant Church - Camberwell
Contents of the Financial Statements for the Year Ended 31 December 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 to 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |
New Covenant Church - Camberwell
Report of the Trustees
for the Year Ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the Church are set out in the CIO document:
To advance the Christian Religion for the benefit of the public through the holding of prayer meetings, lectures, public celebration of religious festivals, producing and distributing literature on the Christian Faith to enlighten others about the Christian Religion.
The Short Term and Longer Objectives and Aims.
To prevent and relieve poverty for the public benefit by providing funds, goods and services in such parts of the United Kingdom or the world as the Trustees may deem necessary from time to time. To advance the Christian Religion for the benefit of the public through the holding of prayer meetings, lectures, public celebration of religious festivals, producing and distributing literature on the Christian Faith to enlighten others about Christian Religion.
The charity's strategies for achieving its aims and objectives in the future.
The Charity intends to continue to look for opportunities to provide Cost of living support/relief in the community. The Charity focused on the health impact of the cost of living crisis running programs and events on Mental health, Menopause and prostate issues. The charity will also look to continue supporting initiatives to help with Crisis situations in Ukraine, Turkey, Syria etc. In 2022 the Charity contributed to Ukraine relief effort.
Significant activities
The Principal Activities of the Charity are Christian worship and involvement of various ministries and ministers of Religion in propagating the Christian Tenets of faith to members (and non-members) who seek to develop an understanding of the Gospel through the various meetings provided by the Church. There is an extension of the Christian Faith through other direct Community Outreach programmes.
Page 1
New Covenant Church - Camberwell
Report of the Trustees
for the Year Ended 31 December 2022
OBJECTIVES AND ACTIVITIES
Public benefit
The Charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number is: 1174979. The Charity also operates in Sierra Leone.
The Board of Trustees are pleased to report as follows:
PUBLIC BENEFIT
The Advancement of Christian Faith
The Trustees of the Charity having due regard for the reporting of public benefit provided by the Charity in line with the Charities Act 2011, are pleased to report that the church has continued its involvement with community focused events and projects providing direct benefit for the public in the UK .
Places of Worship
The Charity has continued its commitment to the promotion of the Christian Faith by renting on a weekly basis a place at Employment Academy - 29 Peckaham Road, Camberwell, London, SE5 8UA to provide the public with the ongoing opportunity to attend Church services enabling them to grow and develop in the Christian faith, teachings and Principles.
The worship activities make provision for Christian Worship Services, teaching sessions, discipleship classes and prayer meetings throughout the week.
The Church also operates weekly meetings in different local locations for our discipleship classes a practical strategy for using informal settings to advance Christianity in our communities.
Evangelism
Evangelism is a core value and outreach strategy of our Church to reach out to communities.
We distribute Christian Tracts in the community, speak to people in parks and public places about the Christian faith, provide light refreshments in parks as we look to engage the community to drive forward the Christian faith. We also collaborate with local churches to promote picnics and summer family fun days where food and drinks are provided, and local Mayors join us as we promote Christianity in the community.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1174979
Page 2
New Covenant Church - Camberwell
Report of the Trustees
for the Year Ended 31 December 2022
Principal address
9 Havelock Road Dartford Kent DA1 3HY Trustees A Popoola B Aliu Ms H Sesay
Approved by order of the board of trustees on 13 April 2023 and signed on its behalf by:
A Popoola - Trustee
Page 3
Independent Examiner's Report to the Trustees of New Covenant Church - Camberwell
Independent examiner's report to the trustees of New Covenant Church - Camberwell
I report to the charity trustees on my examination of the accounts of New Covenant Church - Camberwell (the Trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of CIPFA ; FFA which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection 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.
Theo Sehindemi CIPFA ; FFA
13 April 2023
Page 4
New Covenant Church - Camberwell
Statement of Financial Activities
for the Year Ended 31 December 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 67,590 EXPENDITURE ON Charitable activities Mission 1,749 Telephone 758 Service Charge 16 Subcription 248 Travel and Subsistence 270 Wages 17,616 Social Security - Employer's National Insurance 2,431 Rent 1,032 Independent Examiners'Fees - Training / Welfare 1,200 Honourarium 1,100 Training 1,000 Bank Charges 70 Contribution to Centre 1,975 Auditors' Remn - Non-Audit 500 Insurance 215 Total 30,180 NET INCOME 37,410 RECONCILIATION OF FUNDS Total funds brought forward (23,786) TOTAL FUNDS CARRIED FORWARD 13,624 |
Restricted fund £ 255,628 - - - - - - - - - - - - - - - - - 255,628 - 255,628 |
31.12.22 Total funds £ 323,218 1,749 758 16 248 270 17,616 2,431 1,032 - 1,200 1,100 1,000 70 1,975 500 215 30,180 293,038 (23,786) 269,252 |
31.12.21 Total funds £ 297,881 13,224 649 92 244 482 17,310 2,389 - 500 1,960 950 700 - - - - |
|---|---|---|---|
| 38,500 | |||
| 259,381 - |
|||
| 259,381 |
The notes form part of these financial statements
Page 5
New Covenant Church - Camberwell
Statement of Financial Activities
for the Year Ended 31 December 2022
Surplus and Deficit Account 968
Posting discrepancies were found in the reserve accounts listed below. This is because the brought forward postings in the current year are not equal to the figures carried forward by IRIS at the end of last year. Please check your postings in the brought forward account for the surplus and deficit account 968.
| deficit account 968. | |||
|---|---|---|---|
| Unrestricted | Restricted | ||
| funds | funds | Total funds | |
| £ | £ | £ | |
| Brought forward - 968/1 | (23,786) | - | (23,786) |
| Carried forward | 33,879 | 225,502 | 259,381 |
| Difference | 57,665 | 225,502 | 283,167 |
Post to relevant accounts (see UCHA chart of accounts for further details)
The notes form part of these financial statements
Page 6
New Covenant Church - Camberwell
Balance Sheet
31 December 2022
| Unrestricted fund Notes £ CURRENT ASSETS Debtors 4 - Cash in hand 13,624 13,624 NET CURRENT ASSETS 13,624 TOTAL ASSETS LESS CURRENT LIABILITIES 13,624 NET ASSETS 13,624 FUNDS 5 Unrestricted funds: General fund Restricted funds: Special Funds TOTAL FUNDS |
Restricted fund £ 255,628 - 255,628 255,628 255,628 255,628 |
31.12.22 Total funds £ 255,628 13,624 269,252 269,252 269,252 269,252 13,624 255,628 269,252 |
31.12.21 Total funds £ 259,381 - 259,381 259,381 259,381 259,381 33,879 225,502 259,381 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 13 April 2023 and were signed on its behalf by:
A Popoola - Trustee
B Aliu - Trustee
H Sesay - Trustee
The notes form part of these financial statements
Page 7
New Covenant Church - Camberwell
Notes to the Financial Statements
for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
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continued...
New Covenant Church - Camberwell
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
3.
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 72,379 225,502 EXPENDITURE ON Charitable activities Mission 13,224 - Telephone 649 - Service Charge 92 - Subcription 244 - Travel and Subsistence 482 - Wages 17,310 - Social Security - Employer's National Insurance 2,389 - Independent Examiners'Fees 500 - Training / Welfare 1,960 - Honourarium 950 - Training 700 - Total 38,500 - NET INCOME 33,879 225,502 TOTAL FUNDS CARRIED FORWARD 33,879 225,502 |
Total funds £ 297,881 13,224 649 92 244 482 17,310 2,389 500 1,960 950 700 |
|---|---|
| 38,500 | |
| 259,381 | |
| 259,381 |
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continued...
New Covenant Church - Camberwell
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
| 4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments 5. MOVEMENT IN FUNDS At 1.1.22 £ Unrestricted funds General fund (23,786) Restricted funds Special Funds - TOTAL FUNDS (23,786) Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 67,590 Restricted funds Special Funds 255,628 TOTAL FUNDS 323,218 |
31.12.22 £ - 255,628 255,628 Net movement in funds £ 37,410 255,628 293,038 Resources expended £ (30,180) - (30,180) |
31.12.21 £ 259,381 - 259,381 At 31.12.22 £ 13,624 255,628 269,252 Movement in funds £ 37,410 255,628 293,038 |
|---|---|---|
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continued...
New Covenant Church - Camberwell
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
5. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| in funds | 31.12.21 | |||
| £ | £ | |||
| Unrestricted funds | ||||
| General fund | 33,879 | 33,879 | ||
| Restricted funds | ||||
| Special Funds | 225,502 | 225,502 | ||
| TOTAL FUNDS | 259,381 | 259,381 | ||
| Comparative net movement in funds, included in the above are as | follows: | |||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 72,379 | (38,500) | 33,879 | |
| Restricted funds | ||||
| Special Funds | 225,502 | - | 225,502 | |
| TOTAL FUNDS | 297,881 | (38,500) | 259,381 | |
| A current year 12 months and prior year 12 months combined position is as follows: | ||||
| Net | ||||
| movement | At | |||
| At 1.1.21 | in funds | 31.12.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | - | 71,289 | 71,289 | |
| Restricted funds | ||||
| Special Funds | - | 481,130 | 481,130 | |
| TOTAL FUNDS | - | 552,419 | 552,419 |
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continued...
New Covenant Church - Camberwell
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
5. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Special Funds TOTAL FUNDS |
Incoming resources £ 139,969 481,130 621,099 |
Resources expended £ (68,680) - (68,680) |
Movement in funds £ 71,289 481,130 552,419 |
|---|---|---|---|
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
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New Covenant Church - Camberwell
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2022 | ||
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 1 | - |
| Donations | 309,544 | 285,482 |
| Gift aid | 13,673 | 12,399 |
| 323,218 | 297,881 | |
| Total incoming resources | 323,218 | 297,881 |
| EXPENDITURE | ||
| Charitable activities | ||
| Service Charge | 16 | 92 |
| Training | 1,000 | 700 |
| Welfare | 1,200 | 1,960 |
| Mission | 1,749 | 13,224 |
| 3,965 | 15,976 | |
| Support costs | ||
| Management | ||
| Wages | 17,616 | 17,310 |
| Social security | 2,431 | 2,389 |
| Subscription | 248 | 244 |
| Insurance | 215 | - |
| Telephone | 758 | 649 |
| Honourarium | 1,100 | 950 |
| 22,368 | 21,542 | |
| Finance | ||
| Contribution to Centre | 1,975 | - |
| Bank charges | 70 | - |
| 2,045 | - | |
| Other | ||
| Travel and Subsistence | 270 | 482 |
| Governance costs | ||
| Auditors' remuneration for non audit | ||
| work | 500 | 500 |
| Carried forward | 500 | 500 |
This page does not form part of the statutory financial statements
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New Covenant Church - Camberwell
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2022 | ||
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Governance costs | ||
| Brought forward | 500 | 500 |
| Rent | 1,032 | - |
| 1,532 | 500 | |
| Total resources expended | 30,180 | 38,500 |
| Net income | 293,038 | 259,381 |
This page does not form part of the statutory financial statements
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