Ylew Covenant Church Lee Green Report and financlal Statement8 for the year ended 3 1 December 2024 Clwlty No: 1175979
New Covenant Church Lee Green Financial statements for the year ended 31 December 2024 Contents Page (S) Legal and administrative information Report of the trustees Responsibilities of the trustees Independent examiner's report Statement of financial activities Balance sheet Notes forniing part of the fin8ncial statements 10 - 14
New Covenant Church Lee Green Financial statements for the year ended 31 December 2024 Reference and administrative Anforniation Charity name: New Covenant Church IEe Green Charlty reglstratlon number: 1175979 Reglstered office and operatlonal addre88: 66 Eynsham Drive Abbeywood London SE2 9QZ Trnstee8: Ayodeji Shobande Dumebi Martin Emechete Cyrina Omololu Independent examlner: Sedot Consult Limited Banker8: Natwest Page I
New Covenant Church Lee Green Report of the trnstees for the year ended 31 December 2024 The trustees of New Covenant Church IEe Green present their report and financial statetnents for the year ended 3 1st December 2024 which have been prepared in accordance with the Staternent of Recommended Practice, Accounting and Reporting by Charities" issued in December 2000 and Revised SORP 2005. Strncture overnance and mana ement a. Con8tltutlon The charity is constituted as a Charitable Incorporated Organisation ICIOI in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales ICCEWI. 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 appolntment or electlon of tni8tee8 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. e. Pollcles adopted for the Inductlon and tralnlng of trustee8 Existing trustees are provided with training as and when required. d. Organlsatlonal 8tructure and declslon making The Board of trustees is headed by a Chairman, the Secretary to the Trust and a Financial Administrator. 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 the Outreach Ministry (namely Benefit Advice) Page 2
New Covenant Church Lee Green Report of the trnstees for the year ended 31 December 2024 e. Related party relatlonshlps New Covenant Church Lee Green is a parish of New Covenant church - network comprising parishes all over the world. There is an agreement for common purposes enteredinto by New Covenant Church IEe Green which docutnents this relationship Ob ectlves and actlvltles a. Policies and objectives The objects of the charity are: l. The advancement of the Christian faith 2. The relief of poverty and hardship. 3. Supporting the sick, the elderly, and those in need of care or counselling. l.) Advanclng the chrlstlan falth a.) Place of wor8hlp and the actlvltles Regular worship services were held at I 11-113 Burnt Ash Road, Lee Green, London SE12 8RA, including both physical and virtual Sunday Celebration Services. b.) Pa8toral Care Pastoral visits were undertaken to support vulnerable individuals, including those with tern]inal health conditions, in their homes. c.) Communlty Support l. Weekly provision of snacks and beverages for vulnerable individuals, community members, and visitors after each Sunday Celebration Service. 2. Food support through the "Love Feast" initiative for members of the congregation, individuals affected by substance misuse, and vulnerable people from the wider community. 3. Financial assistance provided to individuals facing homelessness, and to those affected by drug and alcohol addiction who attended church services. d.) Men and Women mln18try l. The New Covenant Women's Ministry held one meeting during the year, with subsequent activities on hold. 2. Men's Ministry activities were on hold during the reporting period. Page 3
New Covenant Church Lee Green Report of the trustees for the year ended 31 Decejnber 2024 e.) Partnershlps and Outreach l. Engagement with local churches to promote the Christian faith, including partnership with other New Covenant Churches in Eltham, Lewisham, and Abbey Wood. 2. Outreach events, including a Christmas dinner for members and community visitors. 3. Visit to Riverlee Residential and Nursing Home to sing Christmas carols and present gifts to residents and staff. b. Grant maklng pollcles 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 lat the discretion of the trustees) who are in need. . 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 of departments and ministers to ensure that the best value is derived from the sterling efforts of the volunteers. d. Rl8k 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. Page 4
New Covenant Church Lee Green Report of the trustees for the year ended 31 December 2024 Achlevements and erfornianee The trustees are pleased to report that the church continued to be successful spiritually by ministering to tnany people in prayer and welfare. The church has improved in membership strength and is increasingly reaching out to the community. Review of tTan8actions and financial osition During the year, income of £7.4501£16,83 1 in 20231 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 Deficit 5,202 (Surplus £9,522 in 20231. The value of the New Covenant Church Lee Green net assets at 31 st December 2024 is £1 1,2821£16,484 in 2023). Plan8 for future develo ment8 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 ajl Page 5
New Covenant Church Lee Green Report of the trustee8 for the year ended 31 Decejnber 2024 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 fanCial 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 lawl. 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: select suitable accounting policies and then apply them consistently. make judgments and estimates that are reasonable and prudent. 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 examlner The trustees appointed Sedot Consult Limited as the charity's independent examiner. A resolution for re-appointment as independent examiner will be proposed during the trustees, meeting for the Ye 2024. This report was approved by the trustees on the 30 August 2025 and signed on its behalf by: Dumebi Martin Emechete Trustee Page 6
New Covenant Church Lee Green Independent examiner's report for the year ended 31 December 2024 Independent examiner's report We have examined the financial statements, which comprise the fanCIal activities, the balance sheet, the related notes and the accounting policies of New Covenant Church Lee Green for the year ended 3 1 December 2024. Respectlve responsibxlities of trnstees 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. Seope of examlnatlon We conducted our examination in accordance with directions given by the Charity Commissioners under section 144121 of the Charities Act 20 1 l. 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 Independent examlAer'8 8tatement In connection with our examination, no matter has come to our attention: l. Which gives us reasonable cause to believe that in any material respect the requirements: To keep accounting records in accordance with section 130 the 2011 Act. and To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 20 1 l Act have not been met. or 2. To which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Sedot Consult Limited This report was signed on 30 August 2024 Page 7
New Covenant Church Lee Green Statement of financial activities (including Income and Expenditure Account) for the year ended 3 1 December 2024 2024 2023 Unrestrlcted Restrlcted Funds Funds Total Funds Total Funds Notei Incomlng re80urces Incomlng resources from generated funds Voluntary income: Tithes and offerings Gift aid 7,450 7,450 9.973 6,858 Total Incomlng re8ource8 Re8ource8 expended Charitable activities Grants Administrative costs Govenant Cost 3,967 1,818 6,517 350 3,967 1,818 6,517 350 3,784 853 5,923 350 Total resource8 expended 12,652 Net Incomlng re80urce8 before other recognl8ed galn8111088) (5,2021 15,2021 5,922 Net movement In fund8 Reconcillatlon of fund8 Total funds brought forward Total funds earned forward (5,2021 5,922 5,839 11.283 The Statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities. Page 8
New Covenant Church Lee Green Balance sheet as at 31 Deeember 2024 Notes 2024 2023 Flxed assets Tangible assets 334 616 Current a88ets Debtors Cash at bank and in hand 295 295 11,298 16,218 Creditors: Amount falling due 350 350 Net eurrent a88ets 10,948 15,868 Net assets General fund8 Fund brought fornTard Surplus/ (Lossl for the year Prior year adjustment 16,485 15,202) 10,563 5,922 11,282 16,485 Dlrector8' re8pon8lbllltle$: 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 30 August 2025 and signed on its behalf behalf by: Dumebi Martin Emechete Trustee Page 9
New Covenant Church Lee Green Notes formlng part of the flnanclal statements for the year ended 3 1 December 2024 l. Accountlng polleies The financial statements have been prepared in accordance with applicable 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) Comparatlve flgures Comparative figures are shown on the statement of accounts of the charity. 1¢) Incomlng re80urce8 All income is credited to the statement of financial activities on the earlier date of when they are received or when they are receivable. ldl Re8trlcted fund8 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. {el Unrestrleted 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. {fj 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. Page 10
New Covenant Church Lee Green Notes forming part of the fmancAal statements for the year ended 3 1 December 2024 Ig) Donated services and gifts in kind The value of donated services and grfts in kind provided to the New Covenant 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 Ih) Flxed assets Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The cost of minor additions or those costing below £1 00 are not capitalised. Depreciation is provided at rates cajculated 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 - 250/0 Church refurbishment -12.50/0 2. Tlthe8 and offerlng8 2024 Unre8tTlcted Re8trlcted Total 2023 Total Tithes & offering Building fund 7,450 7,450 9,213 760 7,450 7,450 9,973 3. Charltable actlvltles Unre8trlcted Restrlcted 2024 Total 2023 Tot8J Training Welfare Honorarium Outreach Events Music 50 50 199 320 3,000 165 3,725 3,725 192 192 loo Page 11
New Covenant Church Lee Green Notes formlng part of the Ilnanclal statements for the year ended 3 1 December 2024 4. Grants 2024 2023 Unrestrlcted Restrlcted Total Total Tndividuals National due Zone 530 1,288 530 1,288 250 553 50 1,818 1,818 853 5. Admlnlstratlve cost8 2024 2023 Unre8trlcted Restricted Total Total Rent & rates Pastor's welfare/wages Phones/internet Depreciation Advert Sundary Stationery Equiptment expensed Repairs 1,875 3,900 236 282 1,875 3,900 236 282 1,800 3,300 262 282 130 149 50 49 55 70 50 49 55 70 6.517 6,517 5,923 6. Govenant C08t 2024 2023 Unrestrlcted Re8trlcted Total Total Accountancy fee 350 350 350 350 350 350 Page 12
New Covenant Church Lee Green Notes formlng part of the financlal statements for the year ended 3 1 December 2024 7. Tanglble flxed assets Office equlpment Motor vehlcle Total COST At l January 2024 Additions in period At 3 1 December 2024 1,553 1,553 1.553 DEPRECIATION At l January 2024 Charge in period At 3 1 December 2024 937 282 937 282 NET BOOK VALUE At 3 1 December 2024 334 334 At 3 1 December 2023 616 616 8. Credltor8: amounts falllng due wlthln one year 2024 350 2023 350 Accruals Page 13
New Covenant Church Lee Green Notes forming part of the fmancial statements for the year ended 3 1 December 2024 9. Analy8 of net assets between fund8 2024 Total Funds 2023 Total Funds General Restricted Funds Fund8 Tangible assets Current assets Current liabilities 334 11,298 13501 334 11,298 13501 616 16,218 13501 Net a88et8 at 31 Dec 2024 At l Jan Incomlng Outgolng At 31 Dec 2024 Re80urces Re8ource8 2024 tInc Galn8] Re8trleted fuAd8: 10,444 10,444 Total restricted funds Unrestrlcted funds: General funds 6,041 7,450 12,652 839 Total unrestricted funds 6,041 839 Total fund8 16.485 12,652 11,283 10. Trnstee8 remuneratlon and reimbursement of expenses: The trustees did not receive any remuneration in this financial year. I l. 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. Page 14