The New Life In Christ Ministry The Lord's Parish
Charity No. 1175325
Company No. 10713991
Trustees' Report and Unaudited Accounts For the year ended 30 April 2021
B M Cooper & Co. Limited Chartered Certified Accountants
88 Wood Lane
Dagenham Essex RM9 5SL
The New Life In Christ Ministry The Lord's Parish Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Summary Income and Expenditure Account | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Page 1
The New Life In Christ Ministry The Lord's Parish Trustees Annual Report
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 April 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 10713991
Charity No. 1175325
Principal Office
Unit 3, Intake Business Centre Kirkdale Avenue Mansfield Nottinghamshire NG18 5QP
Registered Office
The New Life In Christ Minis Kirkland Avenue Mansfield Nottinghamshire NG18 5QP
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law.
The following Directors and Trustees served during the year:
Adedayo Ajala Olawunmi Ladipo Olufemi Awomolo
Accountants
B M Cooper & Co. Limited 88 Wood Lane Dagenham Essex RM9 5SL
Bankers
Barclays Bank Plc
OBJECTIVES AND ACTIVITIES
The charity's objects are to advance the Christian Religion for the public benefit in the Mansfield area in particular but not exclusively by the provision of facilities for public worship and prayer.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Page 2
The New Life In Christ Ministry The Lord's Parish Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
The above objectives were achieved through provision of local Christian outreach programmes and conferences.
FINANCIAL REVIEW
The total incoming resources for the period amounted to £28,929 (2020 - £32,446) and the total resources expended amounted to £29,584 (2020 - £35,212) leaving net deficit for the period of £655 (2020 - £2,766). The balance of fund as at 30th April 2021 was £2,735 (2020 - £3,390).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The organisation is a charitable company limited by guarantee, incorporated on 06th April 2017 and registered as a charity on 06th October 2017. The company was established under a Memorandum of Association dated 06th April 2017, as amended by a special resolution dated 06th October 2017. This established the objects and powers of the charitable company and the charity is governed under its Articles of Association.
Trustees are selected from long standing members of the congregation and people from outside of the church who are familiar, and have an emphathy, with the objectives of the Church.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
..................................................................... Adedayo Ajala Trustee
08 February 2022
Page 3
The New Life In Christ Ministry The Lord's Parish Independent Examiners Report Independent Examiner's Report to the trustees of The New Life In Christ Ministry The Lord's Parish
I report to the charity trustees on my examination of the accounts of The New Life In Christ Ministry The Lord's Parish for the year ended 30 April 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements under section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the Charities SORP (FRS 102).
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.
................................................
Mr Bolaji Kalejaiye FCCA ACCA B M Cooper & Co. Limited 88 Wood Lane Dagenham Essex RM9 5SL
08 February 2022
Page 4
The New Life In Christ Ministry The Lord's Parish Statement of Financial Activities For the year ended 30 April 2021
| Notes Income and endowments from: Donations and legacies 4 Other 5 Total Expenditure on: Charitable activities 6 Other 7 Total Net gains on investments Net expenditure 8 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 18,711 10,218 |
Total funds 2021 £ 18,711 10,218 |
Total funds 2020 £ 25,650 6,796 |
|---|---|---|---|
| 28,929 1,511 28,073 |
28,929 1,511 28,073 |
32,446 2,196 33,016 |
|
| 29,584 - |
29,584 - |
35,212 - |
|
| (655) - |
(655) - |
(2,766) - |
|
| (655) | (655) | (2,766) | |
| (655) 3,390 |
(655) 3,390 |
(2,766) 6,156 |
|
| 2,735 | 2,735 | 3,390 |
Page 5
The New Life In Christ Ministry The Lord's Parish Summary Income and Expenditure Account For the year ended 30 April 2021
| Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year |
2021 £ 28,929 28,929 28,503 1,081 29,584 (655) (655) |
2020 £ 32,446 |
|---|---|---|
| 32,446 | ||
| 33,770 1,442 |
||
| 35,212 | ||
| (2,766) | ||
| (2,766) |
Page 6
The New Life In Christ Ministry The Lord's Parish Balance Sheet At 30 April 2021 Company No. 10713991
| Notes 2021 £ Fixed assets Tangible assets 10 3,244 3,244 Current assets Cash at bank and in hand 1,784 1,784 Creditors:Amount falling due within one year 11 (2,293) Net current liabilities (509) Total assets less current liabilities 2,735 Net assets excluding pension asset or liability 2,735 Total net assets 2,735 The funds of the charity Restricted funds 12 Unrestricted funds 12 General funds 2,735 2,735 Reserves 12 Total funds 2,735 |
2020 £ 4,325 |
|---|---|
| 4,325 5,437 |
|
| 5,437 (6,372) |
|
| (935) 3,390 |
|
| 3,390 | |
| 3,390 | |
| 3,390 | |
| 3,390 | |
| 3,390 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 30 April 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 08 February 2022
And signed on its behalf by:
...........................................................
Adedayo Ajala Trustee
08 February 2022
Page 7
The New Life In Christ Ministry The Lord's Parish Notes to the Accounts For the year ended 30 April 2021
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
The New Life In Christ Ministry The Lord's Parish Notes to the Accounts Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 9
The New Life In Christ Ministry The Lord's Parish
Notes to the Accounts Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 10
The New Life In Christ Ministry The Lord's Parish Notes to the Accounts 3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Tithes and offerings 5 Other income Gift aid Grants receivable |
Unrestricted £ 18,711 18,711 37,422 Unrestricted £ - 10,218 10,218 |
Unrestricted funds 2020 £ 25,650 6,796 32,446 2,196 33,016 35,212 (2,766) (2,766) (2,766) 6,156 3,390 Total 2021 £ 18,711 18,711 37,422 Total 2021 £ - 10,218 10,218 |
Total funds 2020 £ 25,650 6,796 |
| 32,446 2,196 33,016 |
|||
| 35,212 | |||
| (2,766) | |||
| (2,766) | |||
| (2,766) 6,156 |
|||
| 3,390 | |||
| Total 2020 £ 25,650 25,650 |
|||
| 51,300 | |||
| Total 2020 £ 2,028 4,768 |
|||
| 6,796 |
Page 11
The New Life In Christ Ministry The Lord's Parish Notes to the Accounts
6 Expenditure on charitable activities
| Expenditure on charitable activities Honoraria and gifts to Missions Evangelism Benevolence and love offerings Governance costs Accountancy fees Legal and professional fees 7 Other expenditure Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs 8 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Salaries and wages Pension costs No employee received emoluments in excess of £60,000. |
Unrestricted £ 25 108 225 358 600 553 1,869 Unrestricted £ 17,718 - 7,918 1,081 1,356 28,073 2021 £ 1,081 17,412 306 17,718 |
Total 2021 £ 25 108 225 358 600 553 1,869 Total 2021 £ 17,718 - 7,918 1,081 1,356 28,073 |
Total 2020 £ 750 49 250 1,049 600 547 |
|---|---|---|---|
| 3,245 | |||
| Total 2020 £ 19,629 310 10,419 1,442 1,216 |
|||
| 33,016 | |||
| 2020 £ 1,442 19,267 362 |
|||
| 19,629 | |||
Page 12
The New Life In Christ Ministry The Lord's Parish Notes to the Accounts
10 Tangible fixed assets
| Cost or revaluation At 1 May 2020 At 30 April 2021 Depreciation and impairment At 1 May 2020 Depreciation charge for the year At 30 April 2021 Net book values At 30 April 2021 At 30 April 2020 11 Creditors: amounts falling due within one year Other taxes and social security Other creditors Accruals and deferred income |
2021 £ 361 1,296 636 2,293 |
£ 10,252 10,252 5,927 1,081 7,008 3,244 4,325 |
£ 10,252 |
|
|---|---|---|---|---|
| 10,252 | ||||
| 5,927 1,081 |
||||
| 7,008 | ||||
| 3,244 | ||||
| 4,325 | ||||
| 2020 £ 955 4,779 638 |
||||
| 6,372 | ||||
| 12 Movement in funds Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Total funds 13 Analysis of net assets between funds Fixed assets Net current assets |
At 1 May 2020 3,390 3,390 |
Incoming resources (including other gains/losses ) £ 28,929 28,929 |
Resources expended £ (29,584) (29,584) Unrestricted funds £ 3,244 (509) 2,735 |
At 30 April 2021 £ 2,735 |
| 2,735 | ||||
| Total £ 3,244 (509) |
||||
| 2,735 |
Page 13
The New Life In Christ Ministry The Lord's Parish Notes to the Accounts 14 Reconciliation of net debt
| Cash and cash equivalents Net debt |
At 1 May 2020 £ |
Cash flows £ |
At 30 April 2021 £ |
|---|---|---|---|
| 5,437 | (3,653) | 1,784 | |
| 5,437 5,437 |
(3,653) (3,653) |
1,784 | |
| 1,784 | |||
| Commitments Operating lease commitments Annual commitments under non-cancellable operating leases 2021 Land and buildings £ Operating leases with expiry date: Pension commitments The pension cost charge to the company amounted to: |
are as follows: 2021 Other £ 2021 £ 306 |
2020 Land and buildings £ |
2020 Other £ 2020 £ 362 |
15 Commitments
16 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 14
The New Life In Christ Ministry The Lord's Parish Detailed Statement of Financial Activities For the year ended 30 April 2021
| Income and endowments from: Donations and legacies Tithes and offerings Other Gift aid Grants receivable Total income and endowments Expenditure on: Charitable activities Honoraria and gifts to Missions Evangelism Benevolence and love offerings Governance costs Accountancy fees Legal and professional fees Total of expenditure on charitable activities Employee costs Salaries/wages Pension costs Vehicles - General costs Premises costs Rent Light, heat and power General administrative costs, including depreciation and amortisation Depreciation of Equipment repairs and maintenance Software, IT support and related costs |
Unrestricted funds 2021 £ 18,711 18,711 - 10,218 10,218 28,929 25 108 225 358 600 553 1,153 1,511 17,412 306 17,718 - - 7,280 638 7,918 1,081 105 423 |
Total funds 2021 £ 18,711 18,711 - 10,218 10,218 28,929 25 108 225 358 600 553 1,153 1,511 17,412 306 17,718 - - 7,280 638 7,918 1,081 105 423 |
Total funds 2020 £ 25,650 |
|---|---|---|---|
| 25,650 | |||
| 2,028 4,768 |
|||
| 6,796 | |||
| 32,446 750 49 250 |
|||
| 1,049 | |||
| 600 547 |
|||
| 1,147 | |||
| 2,196 19,267 362 |
|||
| 19,629 | |||
| 310 | |||
| 310 | |||
| 8,703 1,716 |
|||
| 10,419 | |||
| 1,442 134 - |
Page 15
| Printing, postage and stationery Sundry expenses Telephone, fax and broadband Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward The New Life In Christ Ministry The Lord's Parish Detailed Statement of Financial Activities |
3 247 578 2,437 28,073 29,584 - (655) (655) - (655) 3,390 2,735 |
3 247 578 2,437 28,073 29,584 - (655) (655) - (655) 3,390 2,735 |
- 429 653 |
|---|---|---|---|
| 2,658 | |||
| 33,016 | |||
| 35,212 - |
|||
| (2,766) | |||
| (2,766) - |
|||
| (2,766) | |||
| 6,156 | |||
| 3,390 |
Page 16