New Covenant Church Lee Green
Report and financial Statements for the year ended 31 December 2021
Charity No: 1175979
New Covenant Church Lee Green
Financial statements for the year ended 31 December 2021
| Contents | Page (S) |
|---|---|
| Legal and administrative information | 1 |
| Report of the trustees | 2 - 4 |
| Responsibilities of the trustees | 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes forming part of the financial statements | 9 - 13 |
New Covenant Church Lee Green
Financial statements for the year ended 31 December 2021
Reference and administrative information Charity name: New Covenant Church Lee Green Charity registration number: 1175979 Registered office and operational address: 66 Eynsham Drive Abbeywood London SE2 9QZ Trustees: Miss G Asogbon Mrs C Omololu M Emechete Independent examiner: Datakap Bookkeepers & Accountants Bankers: Natwest
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New Covenant Church Lee Green
Report of the trustees for the year ended 31 December 2021
The trustees of New Covenant Church Lee Green present their report and financial statements for the year ended 31st December 2021 which have been prepared in accordance with the Statement of Recommended Practice, "Accounting and Reporting by Charities” issued in December 2000 and Revised SORP 2005.
Structure, governance and management
a. Constitution
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.
b. Method of appointment or election of trustees
New trustees are elected on the basis of the contribution that they will make to the governance of the organisation and the skills that they will contribute. They are provided with copies of the Charity Commission's guidance to trustees and given an introduction to the activities of the charity by the existing board.
c. Policies adopted for the induction and training of trustees
Existing trustees are provided with training as and when required.
d. Organisational structure and decision making
The Board of trustees is headed by a Chairman, the Secretary to the Trust and a FinancialAdministrator. All the present employees of the charity are voluntary workers. The trustees are responsible for making all decisions regarding allocation of fund and activities. New Covenant Church, Lee Green consists of a leadership team of two Pastors and three Elders. Within the church, there are 10 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, Summer Camp Committee, Building Committee and
e. Related party relationships
New Covenant Church Lee Green is a parish of New Covenant church - a network comprising parishes all over the world. There is an agreement for common purposes enteredinto by New Covenant Church Lee Green which documents this relationship
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New Covenant Church Lee Green
Report of the trustees for the year ended 31 December 2021
Objectives and activities
a. Policies and objectives
The objects of the charity are:
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The advancement of the Christian religion worldwide; and
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The relief of poverty.
In addition to services where we all meet, the men, women and youths meet occasionally for separate fellowship to encourage and develop themselves in accordance to God's plan and purpose. It also provides 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. We also have a walk-in outreach ministry that regularly provides support for people in the local community regarding free benefits advice. We often go out on evangelism to share the good news that God loves the world in our local community, we listen and offer prayers for everyone. We provide a free annual fete 'Summer Camp’ every Summer for both adults and children with their parents/ guardians in attendance. The CIO has made contributions to the poor and the needy in the community. We confirm the trustees have had regard to the Charity Commission's public benefit guidance when carrying out activities to which it's relevant.
It pursues these objects by the operation of a Christian worship centre at a facility located at 66 Eynsham Drive Abbeywood London SE2 9QZ. It also organises special training and mentoring activities for the unemployed, people planning to start their own businesses and runs general information centre for the public.
b. Activities for achieving objectives
Significant activities that contributed to the achievement of these objectives were:
- Events organised during the year to promote the Christian faith include distribution of leaflets with Christian messages, organising deliverance services,
all night vigils, special prayers and counselling.
- Other activities to help raise the profile of the charity in the local community
included picnics, Mothers' Day and Fathers' Day celebrations.
- Specific activities for the relief of poverty are in the areas of training and mentoring of the unemployed to start their own businesses and passing job information to job seekers.
c. Grant making policies
Grants are made to other charitable bodies. The church supports missionary organisations and other missions and projects within and outside the UK. The church also provides support to menbers provides support to members of the congregation (at the discretion of the Trustees) who are in need.
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New Covenant Church Lee Green
Report of the trustees for the year ended 31 December 2021
d. Volunteers
The church is grateful for the commitment and efforts of its volunteers who are involved in services provision. The church has over 10 volunteers committed to working in various departments within the church. The church continues to dispense the service of heads ofdepartments and ministers to ensure that the best value is derived from the sterling efforts of the volunteers.
e. Risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate against exposures to the major risks.
Achievements and performance
The trustees are pleased to report that the church continued to be successful spiritually by ministering to many people in prayer and welfare. The church has improved in membership strength and is increasingly reaching out to the community.
Review of transactions and financial position
During the year, income of £12,128 (£18,215 in 2020) was received as voluntary donations. The net movement in funds for the period, as shown in the statement of Financial activities, for the period was a loss of £4,176 (Surplus £14,090 in 2020). The value of the New Covenant Church Lee Green net assets at 31st December 2021 is £11,885 (£14,666 in 2020).
Plans for future developments
The charity aims at building on its current achievement in effectively spreading the ethos, love and hope that Christian faith offers. It also aims at building upon its current efforts of community involvement, in its bid to make our community and the larger world a better place for all
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New Covenant Church Lee Green
Report of the trustees for the year ended 31 December 2021
Responsibilities of the trustees
The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations. Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the charity law requires the trustees financial statements for each financial year which give a true and fair view.
The trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the church and of the surplus or deficit of the church for that period. In preparing these to prepare financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgments and estimates that are reasonable and prudent;
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the church will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the church and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent examiner
The trustees appointed Oludolapo Kukoyi as the charity’s independent examiner. A resolution for re-appointment as independent examiner will be proposed during the trustees' meeting for the year 2021.
This report was approved by the trustees on the 18 November 2022 and signed on its behalf by:
________ Ms G Asogbon Trustee
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New Covenant Church Lee Green
Independent examiner's report for the year ended 31 December 2021
Independent examiner's report
We have examined the financial statements, which comprise the financial activities, the balance sheet, the related notes and the accounting policies of New Covenant Church Lee Green for the year ended 31 December 2021.
Respective responsibilities of trustees and independent examiner
As described on page 5, the trustees are responsible for the preparation of the financial statements. It is our responsibility to carry out an examination of those financial statements and to issue a report based on that examination.
Scope of examination
We conducted our examination in accordance with directions given by the Charity Commissioners under section 144(2) of the Charities Act 2011. An examination is limited to enquiries of the charity's personnel and analytical and review procedures applied to financial data and this provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
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Which gives us reasonable cause to believe that in any material respect the requirements:
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To keep accounting records in accordance with section 130 the 2011 Act; and
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To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
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To which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
__________ Datakap Bookkeepers & Accountants
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New Covenant Church Lee Green
Statement of financial activities (including Income and Expenditure Account) for the year ended 31 December 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted |
Total | Total | ||
| Note | Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | ||
| Incoming resources | |||||
| Incoming resources from generated funds | |||||
| Voluntary income: | |||||
| Tithes and offerings | 2 | 11,273 | 855 | 12,128 | 12,983 |
| Total incoming resources | 11,273 | 855 | 12,128 | 12,983 | |
| Resources expended | |||||
| Charitable activities | 3 | 4,997 | - | 4,997 | 940 |
| Grants | 4 | 5,917 | - | 5,917 | 3,070 |
| Administrative costs | 5 | 5,141 | - | 5,141 | 115 |
| Govenant Cost | 6 | 250 | 250 | - | |
| Total resources expended | 16,304 | - | 16,304 | 4,125 | |
| Net incoming resources before other | |||||
| recognised gains/(loss) | (5,031) | 855 | (4,176) | 8,858 | |
| Net movement in funds | (5,031) | 855 | (4,176) | 8,858 | |
| Reconciliation of funds | 1,395 | - | 1,395 | - | |
| Total funds brought forward | 9,434 | - | 9,434 | 576 | |
| Total funds carried forward | 5,798 | 855 | 6,653 | 9,434 |
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
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New Covenant Church Lee Green
Balance sheet as at 31 December 2021
| Notes Fixed assets Tangible assets 7 Current assets Debtors Cash at bank and in hand Creditors: Amount falling due with 8 Net current assets Net assets General funds Fund brought forward Surplus/(Loss) for the year Prior year adjustment |
2021 £ 346 295 11,494 11,789 250 11,539 11,885 14,666 (4,176) 1,395 11,885 |
2020 £ 464 295 13,910 |
|---|---|---|
| 14,205 | ||
| 14,205 | ||
| 14,669 | ||
| 576 8,858 |
||
| 14,669 |
Directors’ responsibilities:
For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The Financial Statements were approved by the board on 18 November 2022 and signed on its behalf behalf by:
Miss G Asogbon Trustee
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New Covenant Church Lee Green
Notes forming part of the financial statements for the year ended 31 December 2021
1. Accounting policies
p p pp Accounting Standards in the United Kingdom with the application of FRSSE and the Statement of Recommended Practice, “Accounting and Reporting by Charities” (“SORP 2000 and SORP 2005”) issued by the Charity Commission. A summary of the principal accounting policies, which have been applied consistently, is set out below.
(a) Basis of Accounting
The financial statements are prepared under the historic cost convention and include the results of the charity's operations, which are described in the trustees report, all of which are continuing.
(b) Comparative figures
Comparative figures are shown on the statement of accounts of the charity.
(c) Incoming resources
All income is credited to the statement of financial activities on the earlier date of when they are received or when they are receivable.
(d) Restricted funds
Restricted funds are to be used for specific purposes as specified within the objects of the charity. Expenditure, which meets these criteria, will be identified to the fund, together with a fair allocation of management and support costs. There was restricted fund during the year which was expended for the purpose it was intended for.
(e) Unrestricted funds
Unrestricted funds are donations and other incomes received or generated for the objects of the charity without further specified purpose and are available for general funds.
(f) Resources expended
Direct charitable expenditure includes all expenditure incurred by the charity in direct pursuit of its charitable objectives. Governance expenditure includes all costs not directly related to the charitable activities and cannot be allocated to direct charitable expenditure.
(g) Donated services and gifts in kind g
p
Church Lee Green is recognised in the statement of financial activities and in the balance sheet at their value to the charity, as determined by the trustees, in the period in which they are receivable, and where the benefit is both quantifiable and material.
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New Covenant Church Lee Green
Notes forming part of the financial statements for the year ended 31 December 2021
(h) Fixed assets
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The cost of minor additions or those costing below £100 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over over their estimated useful economic lives.
Full year depreciation is charged in the year of acquisition, irrespective of the date of purchase and no depreciation is charged in year of asset disposal. The following rates are to be used except where the asset is on a finance lease where the lower of the period of repayment and the useful life is applied.
Church equipment - 25% Office equipment - 25% Church refurbishment -12.5%
| 2. Tithes and offerings Tithes & offering Building fund 3. Charitable activities Training Seminars Welfare Honorarium Outreach |
2021 2020 Unrestricted Restricted Total Total £ £ £ £ 11,273 - 11,273 18,215 855 855 |
|---|---|
| 11,273 855 12,128 18,215 |
|
| Unrestricted Restricted 2021 2020 Total Total £ £ £ £ 200 - 200 350 - 350 1,157 - 1,157 940 2,890 - 2,890 400 - 400 |
|
| 4,997 - 4,997 940 |
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New Covenant Church Lee Green
Notes forming part of the financial statements for the year ended 31 December 2021
| 4. Grants National due Conference due 5. Administrative costs Rent & rates Pastor's welfare/wages Professional Fees Phones/internet Depreciation 6. Govenant Cost Accountancy fee |
2021 2020 Unrestricted Restricted Total Total £ £ £ £ 3,793 - 3,793 3,070 2,124 2,124 |
|---|---|
| 5,917 - 5,917 3,070 |
|
| 2021 2020 Unrestricted Restricted Total Total £ £ £ £ 180 - 180 3,300 - 3,300 1,245 1,245 301 301 115 115 115 |
|
| 5,141 - 5,141 115 |
|
| 2021 2020 Unrestricted Restricted Total Total £ £ 250 - 250 |
|
| 250 - 250 - |
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New Covenant Church Lee Green
Notes forming part of the financial statements for the year ended 31 December 2021
7. Tangible fixed assets
| Office | Motor | ||
|---|---|---|---|
| equipment | vehicle | Total | |
| £ | £ | £ | |
| COST | |||
| At 1 January 2021 | 720 | 720 | |
| Additions in period | - | - | - |
| At 31 December 2021 | 720 | - | 720 |
| DEPRECIATION | |||
| At 1 January 2021 | 259 | 259 | |
| Charge in period | 115 | 115 | |
| At 31 December 2021 | 374 | - | 374 |
| NET BOOK VALUE | |||
| At 31 December 2021 | 346 | - | 346 |
| At 31 December 2020 | 461 | - | 461 |
| 8. Creditors: amounts falling due | within one year | ||
| 2021 | 2020 | ||
| Accruals | 200 |
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New Covenant Church Lee Green
Notes forming part of the financial statements for the year ended 31 December 2021
9. Analysis of net assets between funds
| 2021 | 2020 | |||
|---|---|---|---|---|
| **General ** | Restricted | Total | Total | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| Tangible assets | 346 | - | 346 | 461 |
| Current assets | 9,539 | 2,250.00 | 11,789 | 14,205 |
| Current liabilities | (250) | - | (250) | |
| Net assets at 31 December 2021 | 9,635 | 2,250.00 | 11,885 | 14,666 |
| **At 1 Jan ** | Incoming | Outgoing At 31 Dec | ||
| **2021 ** | Resources | Resources | 2021 | |
| [Inc Gains] | ||||
| £ | £ | £ | £ | |
| Restricted funds: | 1,395 | 855 | - | 2,250 |
| Total restricted funds | 1,395 | 855 | - | 2,250 |
| Unrestricted funds: | ||||
| General funds | 14,666 | 11,273 | 16,304 | 9,635 |
| Total unrestricted funds | 14,666 | 11,273 | 16,304 | 9,635 |
| Total funds | 16,061 | 12,128 | 16,304 | 11,885 |
10. Trustees remuneration and reimbursement of expenses:
The trustees did not receive any remuneration in this financial year.
11. Related party transactions
New Covenant Church is the main head quarters of all New Covenant Church branches. During the year, the church paid institutional grants to other New Covenant Church organisations such as National dues, conference dues as stated in the account.
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