P4NT INT. thar%ty No.. lin338 &w&s* NEW COVENANT INT'L MINISTRIES CHERUBIM AND SERAPHIM Charity number: 1177338 ANNUAL RETURN FOR YEAR END 31ST of December 2024. ESS SI/ dditional Vblue NEW COVENANT INT'L MINISTRIES CHERUBIM AND SERAPHIM CONTENTS PAGE Legal and administrative information Report of the trustees Independent Examinerf5 report Statement of financial activities Balance sheet io Notes to the financial statements 11-14 Income and expenditure account Is d1tional knlue NEW COVENANT INT'L MINISTRIES CHERUBIM AND SERAPHIM Legal and administrative information Trustees Adeyinka Olujoke Adeyemi Dexter Damilola Babalola Florence Olaiya Chairperson. Address Unit 5, Dale House, Vickers Street, Miles Plaiting, Manchester, M40 8EF CHARITY REGISTION NUMBER . 1177338 Independent Examiners Solomon Allistar IMAATI 54 Carriocca Business Park, Hellidon Close, Ardwick, Manchester, M124AH d1tional knlue NEW COVENANT INT'L MINISTRIES CHERUBIM AND SERAPHIM Report of the Trustees for the Year Ended 31st December 2024 The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 December 2024. Structure, Governance and Management Objectives and Activities The objectives of New Covenant International Ministries Cherubim and Seraphim is to advance the Christian Faith in such ways and in such ways and in such parts of the United Kingdom or the World as the trustees from time may think fit. Also the prevention or relief of poverty of people living in Manchester in particular (But without limitation) by providing food and other items to individuals and families in need which they would not otherwise afford through lack of means, and providing information, advice, education, and support in such other ways and in such parts of the United Kingdom or the world as the trustees shall from time to time see fit. Christian Counselling, Advice, and Information In propagating the name of Our Lord Jesus Christ, the parish engaged in evangelism, prayer sessions, spiritual counselling, advice, and information to the general public during regular weekly services. These extend to assisting members and non-members in housing arbd financial needs, the provision of regular 'Health Check, for all to attend and discuss them health problems and have medical check-LJP With volunteer Doctors and Nurses. This forum has been very helpful in dictating early symptoms of sicknesses and illnesses and referring the affected to hospitals for treatment and cure. Financial assistance for charitable objects The parish donated generously to many individuals in need, such as destitute, the disabled and the sick in our society. We also rendered financial support to various organisations in support of their own humanitarian and charitable activities Other Charitable activities Other charitable activities include spreading the Word of God among all nations and announcing the good news of the Kingdom of God to the poor in spirit. This was done through our Spiritual Worships which are open to the general public, revivals, healings, and evangelism which are conducted to stimulate spiritual awareness amor)g the people, seminars and symposia which are organised for people to know and understsnd more about the Word of God ESS SI/ dditional Vblue Financial Sources The church income comes mainly from the weekly tithes and church building funds, other church contributions such as thanksgiving, annual conference, tr3vel, and music funds. Renovations Major renovations took place on the church premises. Acqulsltlons for Muslc equlpment During the year under review, the church bought new musical instrument to aid in the objective of furthering their core charitable objective. Annual Harvest celebration event Our annLJal harvest event took place in which religious dignitaries for all parts of the United Kingdom, Europe, Africa and USA where cordially invited. Statement of Trustees, responsibilities The Board of Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law applicable to charities in Englandlwales requires the Board of Trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements the Board of Trustees have.. Selected suitable accounting policies and applied them consistently. Made judgments and estimates that are reasonable and prudent, Stated whether applicable accounting standards have been followed, subject to anv material departures disclosed and explained in the financial statements,. and Prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the Charity will continue in operation). The Board of Trustees ha5 overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and othe￿￿lSe. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the detertion and prevention of fraud and other irregularities. The Board of Trustees is responsible for the maintenance and integrity of the corporate and ESS SI/ dditional Vblue YEII, COI'LNknNT IhT'L NIINI.STRIFS CIITr.RUBIII AYD ¥•E￿lFIll}I Rewt of tht for the Year Ended 31st Decembei 1024 W& tt Il* Tru5te•s oltt* Owty ¥rt#J oifK* 41 the ￿1+ ol •wwov410l fihvKl•l rrtr to fft*f•Js*rts ol ¥ry Inltymal￿ toesiablth thit t C￿rty1 exanw*r. s)kX￿ *JAsiar {MAAn of W BU%NESSSUPPORT LTD has DatetL. D7 -0 f -2 cs Camscanner NEW COVENANT INT'L MINISTRIES CHERUBIM AND SERAPHIM Independent Examiner's Report for the Year Ended 31st December 2024 I report on the financial statements of the charity for the year ended 31 December 2024 which comprise the Statement of Financial Activities and Balance Sheet with associate notes. This report is made solely to the charity's Trustees, as a body, in actordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I rllight state to the charity's Trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my examination work. Respective Responsibilities of Trustees and Examiner The charity's Trustees are responsible for the preparation of the financial statements, and they consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the Act) and that an independent examination is needed. It is my responsibility to- Examine the account5 (under Section 145 of the Charities Act). To follow the procedures laid down in the General Directions given by the Charity Commissioners lunder Section 14515llbl of the Charities Act),. and To state whether matters have come to my attention. Basis of Independent Examiner's report My examination was carried out in accordance with the General Dirertions given by the Charity Commissioners. An examination includes a review of the accounting records kept bv the Group/Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosure5 in the accounts, and seeking explanations from you as trustees concerning any such matter5. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no ESS SI/ dditional Vblue opinion is given as to whether the accounts present a 'true and fairf view, and the report is limited to those matters set out in the statement below. Independent Examiner's statement In connection with my examination, no matter has come to my attention.. 11 which gives me reasonable cause to believe that in any material respect the requirements- to keep accounting records in accordance with section 130 of the Act,. and to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act have not been met., or 21 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. Vvthdbyp•Pllkv' Signed: SOLOMON ALLISTAR IMAATI Dated.. 0810112025 d1tional Value NEW COVENANT INT'L MINISTRIES CHERUBIM AND SERAPHIM Statement of financial activities for the year ended 31st December 2024. Unrestricted Restricted Total Funds Total Funds 2024 2024 2024 2023 Notes Incoming Resource5 General offerings Gift Aid Grants 49,$49.34 10.742.28 3,000.IHI 63.791.62 44,778.52 2.839.22 1,000.00 48,617.74 Total Incoming Resources Resources expended Direct charitable expendithre GoverThance costs 60,380.14 560.00 46,483.72 S60.00 Total resourees expended 60,940.14 47.043.72 Movement in total fund for the vear- Net income I (expenditure) for the year Net Gain (Loss on investment 2,851.48 1,574.02 Fund Bal blf 1,574.02 2,851.48 Fund Bal clf 1,574.02 ESS SI/ dditional Vblue NEW COVENANT INT'L MINISTRIES CHERUBIM AND SERAPHIM Balance sheet as of 31st December 2024. 2024 2024 2024 2023 Note5 FIXED ASSETS 11.442.40 Tangible a$setS CURRENT ASSETS 12 6.383.00 Debtors Cash at banklin hand 30S3.29 3064.79 CREDITORS amounts falling due M'ithin one vear 0.00 .00 NET CURRENT ASSETS 3,053.29 3.004.79 TOTAL ASSETS LESS CURRENT LIABILITES 14,495.69 9.447.79 CREDITORS amounts falling due more than vear 13 NET ASSETS 14,495.69 6A47.79 CHARITY FUNDS Unrestrlcted funds 14,495.69 6.447.79 TOTAL FUNDS 14,495.69 6,447.79 ESS SI/ dditional Vblue NEW COVENANT INT'L MINISTRIES CHERUBIM AND SERAPHIM Notes to the Financial Statement for the Year Ended 31st December 2024 l. Accounting policies The principal accounting policies are set out below. The accounting policies have been adopted consistently throughout the year. a) Basis of accounting The tinancial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and are in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities issued in March 2005 and the Financial Reporting Standard for Smaller Entities (effective April 2008). b) Incoming resources from generated funds Incoming resources from generated funds represents donations towards weekly tithes, church building fund, thanksgiving, annual conference, travel and other contributions c) Incoming resources- Interest receivable Interest is credited in the yeaT in which it is received. d) Resources expended Expenditure is recognised when a liability is incu￿ed. Funding provided through ontraLtual agreements and performance related grants are recognised as services are supplied. Other grant paynients are recognised when a constructive obligation arises that results in the payinent being unavoidable. Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in activities that raise funds. Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Trust. Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant OT the amount of grant payable. Governance costs include those incurred in the governance of its assets and are primarily associated with consti￿tIOnal and statutory requirements. Support COSts include central fi￿CtionS and have been allocated to activity cost ESS SI/ dditional Vblue categories on a basis consistent with the use of resources. Depreciation Depreciation is calculated at rntes estimated to write off the cost of all tangible fixed assets over their expected useful lives.. Equipment, Fixthres and Fitting.. 20 % During the year under review, the church decided to continue to separdte its equipment from its furniture fixtures and fitting8. A depreciation rate of 200/0 Was applied on each category on a reducing balance basis. e) Fund 8tructllre The prinLipal accounting policies are set out below. The accounting policies have been adopted Lonsistently throughout the year. The funds held by the charity are either.. Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. Designated funds - these are funds earmarked by the trustees out of unrestricted general funds for specific tuture purposes or projects. Restricted funds - these are funds that can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fi￿dS are raised for restricted purposes. Endowment fi￿dS - these are funds that represent assets which must be held permanently by the charity. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included in unrestricted income. Any capital gains or losses arising on the investments fonn part of the ￿nd. Investment management charges and legal advice relating to the fund ale charged against the fiu]d. D VAT The charity is not registered for VA T and accordingly expenditure includes VAT were appropriate. 2 Income resources Income con]prises of donations and tithes 3 Employee information None of the trustees received any remuneration or reimbllrsement of expenses during the year. 4 Net income resources This is stated after charging ESS SI/ dditional Vblue 2024 2023 POST Depreciation 2.860.60 1,595.75 5 Taxation The charity is exempt from corporation tax on its charity. 6 Tangible fixed assets Equipment Fixtures and fittings Total Cost: At l January 2024 Additions At 31 December 2024 6,383.00 7,920.00 14,303.00 6,383.00 7,920.00 14,303.00 Depreciation At l January 2024 Provision for vear At 31 December 2024 2,860.00 2,860.00 2,860.00 2,860.00 NET BOOK VALUE 11,442.40 11,442.40 7 Creditors: amounts falling due more than one year 2024 2023 Other Creditors d1tional Value 8 Creditors: amounts falling due within one year 2024 2023 Other Creditors d1tional Value NEW COVENANT INT'L MINISTRIES CHERUBIM AND SERAPHIM INCOME AND EXPENDITURE ACCOUNT FOR YEAR ENDED 31 DECEMBER 2024 II¥JCOME Voluntary Donations Gift aid Grants 49,549.34 10,742.28 3,000.00 Total income 63,791.62 EXPENSES Rent Salary Renovation 11,877.00 4,290.00 7,360.00 536.00 560.00 1,390.00 2,600.00 13,254.50 9,592.00 5,215.00 320.00 2,800.00 234.04 830.00 81.60 Licencing Music Equipment Spiritual items Fuel Chartty Evangelism Volunteering expenses Professional fees Welfare Finance eost Accounting Misc Total Expenses 60,940.14 Surplus 2,851.48 ESS SI/ dditional Vblue