**REGISTERED CHARITY NUMBER: 1175390** ## Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2020 ## For New Covenant Church - Abbeywood New Covenant Church - ## Contents of the Financial Statements for the Year Ended 31 December 2020 ||Page| |---|---| |Report of the Trustees|1 to 4| |IndependentExaminer's Report|5| |Statement of Financial Activities|6 to 7| |Balance Sheet|8 to 9| |Notes to the Financial Statements|10 to 14| |Detailed Statement of Financial Activities|15 to 16| New Covenant Church - ## Report of the Trustees ## for the Year Ended 31 December 2020 The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting b y 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 I r e l a n d (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES Objectives and aims** The objectives of the church are set out in the CIO document: 1.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. 2.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 from time to time may think. ## **Significant activities** The principal activities of the charity are Christian worship and involvement of various ministries and m in is t e r s o f R e l i g i o n in p r o p a g a t in g t h e C h r i s t i a n Te n e t s o f f a i t h t o m e m b e r s (and non-members) who seek to develop an understanding of the Gospel through the various meetings provided by the Church. There is also an extension of the Christian Faith through other d ire ct Community Outreach programmes. Page 1 New Covenant Church - ## Report of the Trustees for the Year Ended 31 December 2020 ## **OBJECTIVES AND ACTIVITIES** ## **Public benefit** " 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 commenced involvement with community focused events and projects providing direct benefit for the public in the UK and abroad. ## Places of Worship The Charity commits to the promotion of the Christian Faith by leasing on a weekly basis a place in the centre Woolwich Dockyard area 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 meets online via zoom on a weekly basis for bible study classes. This platform is open to non-members and provides an avenue to advance Christianity in the community on an informal basis. ## 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, BBQ outreach and summer family fun days where food and drinks are provided. The Covid restrictions during 2020 did not enable us to provide the full range of these activities during the year but we hope to resume these subsequently. The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity. " Page 2 New Covenant Church - ## Report of the Trustees for the Year Ended 31 December 2020 ## **ACHIEVEMENT AND PERFORMANCE Charitable activities** Youth Ministry Restrictions in 2020 did not permit us to engage in our normal outreach activities but the church, represented by the youth group, distributed food items and hampers to the needy within the community during Easter and Christmas breaks respectively. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of t r u s t and constitutes an unincorporated charity. ## **Recruitment and appointment of new trustees** In making the appointments, the CIO's governing document is checked to ensure that the n e w 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. Page 3 New Covenant Church - ## Report of the Trustees for the Year Ended 31 December 2020 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure** Organisational Structure The board of trustees works closely with the management team and other advisers who promote the objectives of the charity. The charity also collaborates with the New Covenant C h a r i t y 1004343 where our objectives align. The board of Trustees hold meetings throughout the year and direct the pastoral team to promote the policies, strategies, programmes and projects that are geared towards achieving the charity's objectives. ## **Decision making** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1175390 ## **Principal address** ## **Trustees** Mrs B Osobe A Oyedeji Mrs E Bamtefa A Olagunju Approved by order of the board of trustees on 24 August 2021 and signed on its behalf by: Mrs B Osobe - Trustee Page 4 Independent Examiner's Report to the Trustees of New Cvenant Church - Abbeywood ## **Independent examiner's report to the trustees of New Cvenant Church - Abbeywood** I report to the charity trustees on my examination of the accounts of New Cvenant Church - Abbeywood (the Trust) for the year ended 31 December 2020. ## **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 t h e Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** 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: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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 t h e accounts to be reached. Theo Sehindemi 24 August 2021 Page 5 New Covenant Church - ## Statement of Financial Activities ## for the Year Ended 31 December 2020 ||||||31.12.20|31.12.19| |---|---|---|---|---|---|---| ||Unrestricted||Restricted||Total|Total| |||fund|fund||funds|funds| ||Notes|£|£||£|£| |**INCOME ANDENDOWMENTSFROM**||||||| |Donations and legacies||23,219|20,000||43,219|49,315| |**EXPENDITUREON**||||||| |Raising funds|2|-||-|-|1,294| |**Charitable activities**||||||| |Mission||1,150||-|1,150|3,596| |Training and Welfare||8,980||-|8,980|2,065| |Travel and Subsistence||507||-|507|374| |Rent||3,720||-|3,720|11,627| |Wages and Salary||4,749||-|4,749|9,379| |Social Security||655||-|655|-| |Premises Repair||-||-|-|375| |Telephone||595||-|595|585| |Postage and Stationery||-||-|-|188| |Subscription||306||-|306|38| |Equipment Expenses||3,150||-|3,150|463| |Software Licences||161||-|161|198| |Advertising||150||-|150|121| |Contributionto Centre - Admin||6,497||-|6,497|5,905| |Honourarium||1,110||-|1,110|-| |ProfessionalFee||1,920||-|1,920|-| |Consultancy||-||-|-|2,164| |**Total**||33,650||-|33,650|38,372| |**NET INCOME/(EXPENDITURE)**||(10,431)|20,000||9,569|10,943| |**RECONCILIATIONOF FUNDS**||||||| |**Total funds brought forward**||-||-|-|-| |**TOTAL FUNDS CARRIED FORWARD**||(10,431)|20,000||9,569|10,943| The notes form part of these financial statements Page 6 New Covenant Church - ## Statement of Financial Activities for the Year Ended 31 December 2020 Surplus and Deficit Account 968 Posting discrepancies were found in the reserve accounts listed below. This is because t h e 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|-|-|-| |Carried forward|943|10,000|10,943| |Difference|943|10,000|10,943| Post to relevant accounts (see UCHA chart of accounts for further details) The notes form part of these financial statements Page 7 New Covenant Church - ## Balance Sheet ## 31 December 2020 |**CURRENT ASSETS**
Unrestricted Restricted
fund
fund
Notes
£
£
Debtors
5
-
20,000
Cash in hand
24,375
-
**CREDITORS**
24,375
20,000
Amounts falling due within one year
6
(34,806)
-
**NET CURRENT ASSETS/(LIABILITIES)**
(10,431)
20,000
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
(10,431)
20,000
**CREDITORS**
Amounts falling due after more than one
year
7
-
-
**NET ASSETS**
(10,431)
20,000|31.12.20
Total
funds
£
20,000
24,375
44,375
(34,806)
9,569
9,569
-
9,569|31.12.19
Total
funds
£
25,390
14,806| |---|---|---| |||40,196
-| |||40,196| |||40,196
(29,253)| |||10,943| The notes form part of these financial statements Page 8 continued... New Covenant Church - |Balance Sheet - continued
31 December 2020
**FUNDS**
8
Unrestrictedfunds
Restricted funds
**TOTAL FUNDS**|(10,431)
20,000
9,569|943
10,000
10,943| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue o n 24 August 2021 and were signed on its behalf by: B Osobe - Trustee A Oyedeji - Trustee E Bamtefa - Trustee A Olagunju - Trustee The notes form part of these financial statements Page 9 New Covenant Church - ## Notes to the Financial Statements for the Year Ended 31 December 2020 ## **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 b e 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 t h e 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. Page 10 continued... New Covenant Church - ## Notes to the Financial Statements - continued ## for the Year Ended 31 December 2020 ## **2. RAISING FUNDS** ## **Raising donations and legacies** |**Raising donations and legacies**||| |---|---|---| ||31.12.20|31.12.19| ||£|£| |Support costs|-|1,294| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **Trustees' expenses** There were no t r u s t e e s ' expenses paid for the year ended 31 December 2020 nor for t he year ended 31 December 2019. ## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted Restricted
fund
fund
£
£
**INCOME ANDENDOWMENTSFROM**
Donations and legacies
39,315
10,000
**EXPENDITUREON**
Raising funds
1,294
-
**Charitable activities**
Mission
3,596
-
Training and Welfare
2,065
-
Travel and Subsistence
374
-
Rent
11,627
-
Wages and Salary
9,379
-
Premises Repair
375
-
Telephone
585
-
Postage and Stationery
188
-
Subscription
38
-
Equipment Expenses
463
-
Software Licences
198
-
Advertising
121
-
Contributionto Centre - Admin
5,905
-
Consultancy
2,164
-
**Total**
38,372
-
**NET INCOME**
943
10,000|Total
funds
£
49,315
1,294
3,596
2,065
374
11,627
9,379
375
585
188
38
463
198
121
5,905
2,164
38,372
10,943| |---|---| Page 11 continued... New Covenant Church - ## Notes to the Financial Statements - continued ## for the Year Ended 31 December 2020 |**4.**|**COMPARATIVESFOR THESTATEMENTOFFINANCIAL ACTIVITIES- continued**|**COMPARATIVESFOR THESTATEMENTOFFINANCIAL ACTIVITIES- continued**|**COMPARATIVESFOR THESTATEMENTOFFINANCIAL ACTIVITIES- continued**|**COMPARATIVESFOR THESTATEMENTOFFINANCIAL ACTIVITIES- continued**| |---|---|---|---|---| |||Unrestricted|Restricted|Total| |||fund|fund|funds| |||£|£|£| ||**TOTAL FUNDS CARRIED**|||| ||**FORWARD**|943|10,000|10,943| |**5.**|**DEBTORS**|||| ||||31.12.20|31.12.19| ||||£|£| ||Amounts falling due within one year:|||| ||Trade debtors||-|10,000| ||Other debtors||-|15,390| ||||-|25,390| ||Amounts falling due after more than one year:|||| ||Trade debtors||20,000|-| ||Aggregate amounts||20,000|25,390| |**6.**|**CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR**|||| ||||31.12.20|31.12.19| ||||£|£| ||Trade creditors||34,806|-| |**7.**|**CREDITORS:AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**|||| ||||31.12.20|31.12.19| ||||£|£| ||Trade creditors||-|29,253| |**8.**|**MOVEMENTINFUNDS**|||| ||||Net|| ||||movement|At| |||At 1.1.20|in funds|31.12.20| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|-|(10,431)|(10,431)| ||**Restricted funds**|||| ||Restricted Fund|-|20,000|20,000| ||**TOTAL FUNDS**|-|9,569|9,569| Page 12 continued... New Covenant Church - ## Notes to the Financial Statements - continued ## for the Year Ended 31 December 2020 ## **8. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestrictedfunds**|||| |General fund|23,219|(33,650)|(10,431)| |**Restricted funds**|||| |Restricted Fund|20,000|-|20,000| |**TOTAL FUNDS**|43,219|(33,650)|9,569| |**Comparativesfor movement in funds**|||| |||Net|| |||movement|At| |||in funds|31.12.19| |||£|£| |**Unrestrictedfunds**|||| |General fund||943|943| |**Restricted funds**|||| |Restricted Fund||10,000|10,000| |**TOTAL FUNDS**||10,943|10,943| |Comparativenet movement in funds, included in the above are as follows:|||| ||Incoming|Resources|Movement| ||resources|expended|in funds| ||£|£|£| |**Unrestrictedfunds**|||| |General fund|39,315|(38,372)|943| |**Restricted funds**|||| |Restricted Fund|10,000|-|10,000| |**TOTAL FUNDS**|49,315|(38,372)|10,943| Page 13 continued... New Covenant Church - ## Notes to the Financial Statements - continued ## for the Year Ended 31 December 2020 ## **8. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|At| ||At 1.1.19|in funds|31.12.20| ||£|£|£| |**Unrestrictedfunds**|||| |General fund|-|(9,488)|(9,488)| |**Restricted funds**|||| |Restricted Fund|-|30,000|30,000| |**TOTAL FUNDS**|-|20,512|20,512| A current year 12 months and prior year 12 months combined net movement in f u n d s , included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestrictedfunds**|||| |General fund|62,534|(72,022)|(9,488)| |**Restricted funds**|||| |Restricted Fund|30,000|-|30,000| |**TOTAL FUNDS**|92,534|(72,022)|20,512| ## **9. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2020. Page 14 New Covenant Church - |Detailed Statement of FinancialActivities||| |---|---|---| |for the Year Ended 31 December 2020||| ||31.12.20|31.12.19| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Gifts|(1)|2| |Donations|34,910|49,313| |Gift aid|8,310|-| ||43,219|49,315| |**Total incoming resources**|43,219|49,315| |**EXPENDITURE**||| |**Charitable activities**||| |Travel and Subsistence|507|374| |Training and Welfare|8,980|2,065| |Mission|1,150|1,460| ||10,637|3,899| |**Support costs**||| |**Management**||| |Wages|4,749|9,379| |Social security|655|1,294| |Rent|3,720|11,627| |Premises Repairs|-|375| |Subscription|306|38| |Telephone|595|585| |Postage and stationery|-|188| |Advertising|150|121| |Honourarium|1,110|2,136| ||11,285|25,743| |**Finance**||| |Contributionto Centre - Admin|6,497|5,905| |ProfessionalFee|1,920|-| ||8,417|5,905| |**Informationtechnology**||| |Software Licences|161|198| This page does not form part of the statutory financial statements Page 15 New Covenant Church - |Detailed Statement of FinancialActivities||| |---|---|---| |for the Year Ended 31 December 2020||| ||31.12.20|31.12.19| ||£|£| |**Informationtechnology**||| |**Other**||| |Equipment Expenses|3,150|463| |**Governancecosts**||| |Consultancy|-|2,164| |Total resources expended|33,650|38,372| |**Net income**|9,569|10,943| This page does not form part of the statutory financial statements Page 16