Charlty reglstfdtlon number 1178511 NEW LIFE CHURCH (REDCAR) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NEW LIFE CHURCH {REDCAR) LEGAL AND ADMINISTRATIVE INFORMATION Trustoes P Mileham J Murphy A Ibhadon R Mileham W Mileham S Meadows Charlty number 1178511 Principal address Gr08mont Close sl Dyke Road Redcar TS10 4PJ Reglstsred offic• 2 Ely Crescent Redcar TS10 3PT Independent examinor Azets Audit Servlcgs nyard Park House Wnyard Avenue TS22 5TB Unf(ed Kingdom Bankers TSB Bank PLC Redcar TS10 1RP
NEW LIFE CHURCH (REDCAR) CONTENTS Page Trustees, report Independent examlnels rep)rt St8temenl of finan¢K81 activities Balance sheet Notes to th8 financial statements 7-12
NEW LIFE CHURCH {REDCAR> TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report arKI finanryal statements for the year endgd 31 Marth 2024. The financial statemen18 have been prepared in accordants wth the accounting policies set out in note 1 to the financial statements and com Y wrh the charlty's Igoveming d¢xumentl, the Charities Act 2011 and 'Accounling and Reporting by Charities.. Stalemanl of Recommended Pr8¢tice applicat8 to charitie5 preparing Ih&'r accounts in accordance wth the Financial Reporting Standard applicabk in the UK and Republic of lieland {FRS 1021" leffective 1 January 20191. Oblectlves and actlvltles The Church is surrounded by 8 community of residential houses, shops and a local School and a$ such, 15 ideally plaGed 10 Serve. The objèctive of the Church is 88 follows.. To provide a place of yrshIp and fellowship for both the congregation ond Ial communlty- To make available the facilities ot the church lo the local community, and to 8dvan¢? the Chrfstlan faith through the actiwties of the church in accordance with NLCR Mission Statement To help Ihgse in neety and lo reliev& sickness 8nd financial hardship wherever posslble, and lo promote and preseNe g¢)od heatth by provision of funds, g¢)ods and services induding counselling and support in such p8rts of the cLJmmunity, United lQngdom, or the world as the Church Council from time to time think fit. To promots and advance Christian education within the UK and wder world as seen appropriats and ffitllng. The Trustees have paid due regard to guidance issued by the Charity Commlssion in dadding what activf(ies the charty should undertake. Achlevements and perfomiance As trustee5 of New Lits Church Redcar, we are plgased to report once again, that the church continues to expand and increase, th new people coming in and enjoying a wami welcome and s* environment. We 8re particularty oncouraged by children from thg local communlty who are coming in and taking part in Sunday School actlvilles. The children are thriving, growng in confidence arKI learning new skills. They're tsking on new role8 8nd responsbilities and are a valued part of the church family. The heart of our ministy continues to be th8 dere lo serve God and our ¢ommunty and th1$ is demonstrated in number ol ways. Due lo our location, wrthin a disadvantaged communrty, opportunities arise to come alongde those wlh ijependencies on drugs and alcohol, as well 8S Other soual issues. Thankfully, we have seen succes$ with ndividuals Ghanging habitual Ilfestyès and becoming rehabilrtated to the point that they are able lo fUtIOn once again in s¢xiety and offer support to others dealing wth 8tmllar probM& We also work wth a chri8kn.an rehabilitation centre who provide residential QPFQrtunilies for those who need to movo OLrt of the area for a lime, in order lo be free from peer pre8suie and delrimentsl relalic¥)ships. NLCR has a heart for the peopb and community it serves and wo are pleased lo wtness lives being changed for the better. We ¢CtinUe to provide sound biblical teaching. whith is delivergd both in churth and a180 broadcast over the Internet. The weekly coffee mornings provide another opportunity fgr Feopk lo come into d)urch anrj enjoy a time of friendship and fellowship.
NEW LIFE CHURCH (REDCAR) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 For many, just comlng through the doors is a real breakthrough and can often be a great help to thos8 suffering from anety, mentsl heaNh i55ue5 and loneliness. Pastoral cara Is extendod to all who are In need. and the sick are visited al home-and in hospital. Thi$ can make huge drflerence to those that are isolated or feeling alienaled for one rea80n or another We continue lo see a healthy mlx of nationalities and 80cial backgrounds vAthin Ihe church and vakne the cultural dwersty that this brings lo the fellowship. We've once again been able lo Come alongside our emergency Servi$, catE homes, and hospitals as well as local rewdents and those in need, with gifts and support throughoui thè year. Church members contribute t¢)wards these gifts and th8 appreciation expressed by the reciF4ents Is extremely louGhiw. Of course, with the evor-growing concems ovor world issues, environmental problems and natural disaste *, on& Df the most important rdes of the church is to pray. We fimily believe that prayer makes a difference and blessed lo see the evidence of this on 8n ongoing basis. The church eonlinues lo be open daily and we welcome people to take the opportunity to come in and pray while we still have the freedorn lo do 80. Financlal revlow On completion of our annual r8vlew of flnances. we ale ple88ed to be 8ble to report a healthy and stable position. This fln8naal year has seen additional investrn&nt in the infrastructure and $om9 significant costs made in s)rder to maintain a very good standard of upkeep. th ts grolth of the ehurch has corne the necessity to expand the parking facilities which, with carefijl manement of costs flnalised atjust under £15,000. The limber perimeter barrier had lasted well due to ongoing maintenance, but was finally replaced with a ga1vaned and powder coated steel barrier al a cost ofiust over £12.000. th work en the main hall windows and internal lighling, the capital expendilure was taken to almst £30.L)00 bLrt ha8 greatly improved both inside the bulldlrYJ. and the church grounds. W)Ile we envi$age further improvement works in the near future due to the age of the building, we have been careful to make provision for arising costs through the building up of the rè5eNe funds. The church Iruslees made the decision to transfer £35,000 of frJnds from the TSB general account, Into a higher interest account al Kingdom Bank where finances are used to )lJrther church developments and offer ex¥llerst otwrbJnits'es for both indivlduals 8nd organisab'ons A review of the churches gilb'ng wa$ also made by thè trustees, and increase5 made where p95s1e lo organisation$ under growlng financial pressure. such as an orphanage In Romania. and the work lo assist the petseculed church. Due to our growing 8UPPOrt of those ught up Sn drug and alcohcl abuse, we have increased our ging lo Christian rehabilitation lacility. We have been able to support vrtims of tragic ffash fiooding In Africa and those affected by the eorfflict in Gaza, as well as charitable needs WTihin our ovm communlty In the year ahead, w8 plan lo continue lo use the charity's resources to further the objectiv8s of the organisaliL and support wherever possiblè, as rt gr¢)ws and develops by God's gra. We a truly grateful for the many gffts offered in faith by members of the fellowshlp and for continued giving in line with biblical teaching.
NEW LIFE CHURCH (REDCARI TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 It is the policy of the chanty that unrestricted funds vthleh have not been designated for a specific use Should be maintained al a level equwalenl to beeen th and six month's expenditure. The Trustees consider that reserves at this level wll ensur8 that, in the event of a significant drop in funding, they wll be able lo cnntinue the charity's current activ85 while ¢on$ideralion is given lo ways in whi¢h additional fvnds may be raised. This level of reserves has been maintained throughout the year. StruGture• govomance and management The eharfty Is governed by its CIO Deed, dated 24 May 2018, and under this deed is ¢onslituied as a Charitsble Ineorporaled Oryanisation ICIO}. The Truslaes who seNed during the year and up to the dale of signature of the finanryal statements were.. P Mileham J Murphy A Ibh8don R Mileham Wmileham S Meadow8 The trustees, report s approved by the Board of Trustees. P Mileham Tru8tee 8 Novembei 2024
NEW LIFE CHURCH (REDCAR) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW LIFE CHURCH {REDCAR) I report lo the Trustee5 on my examination of the financial sL*ements of N8w Llfe Church IRedcar} Ilhe charty) for the year ended 31 March 2024. Responslbllltles and ba818 of report AS the Trustees of the tharty you are respc)nsible for the preparathJn of the financial slalements In accordance with th& requirements of the Charrtie$Acl 2011 Ilhe 2011 Act). I report in respect of my examinatlon of the charity's financkgl statements carrled out under section 145 01 the 2011 Act. In earrying out my &xamin8tion I have followed all the applicable Dlrectlons glven by the Charty Commissi under Section 14515llbl of th& 2011 Act. Indgpondont oxamIn88 8tstement Your attention Is drawn to the fact that the eharty has pr8pared ffinancial statements in accorda Vth Accounting and Reportlng by Charities preparing their accounts in accordan ¥wth the Financial Reporh'ng Standard applicable In the UK and Republic of Ireland IFRS 102) In prefererte lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 whith is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true arKJ fair wew in 8ecordance wlth Gener81ty Acceplod Accounting Pracbce effectivg for rgporting periods beginning on or after 1 January 2015. I have completed my examlnallon. l eonfim that no matters have come to my attentton in connection with the examination giving m8 cause to believe that in any malerial respect.. accounting records were not kept in respect of the eharty as required by section 130 of the 2011 A¢t'. Cf the financial stslement5 do not a¢cord wth those records., or the financial slaloments do not comply with the 8pplicable requlrements concernirKJ the fom ind content of accounts sèt out in the Charities (Ac¢gunts and Reports) Ragulations 2008 other than any quirement that the aceounts give a true an(i fair view which is not a matter considered as part of an independent examination. I have no concerns and hav& come acros5 no other matters in connection vith examinatn to which attention should be drawn in Lhis report in order lo enable a proper understanding of thè finanual stslements to be reached. Graham Fitzgerald BA FCA DChA A2els Audit Servicas nyard Park House Wyny8rd Avenue TS22 5TB Unlt&Y lQngdom Dated: 8 November 2024
NEW LIFE CHURCH (REDCAR) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrl¢tod Unr08tricted nd$ funds 2024 2023 Notss Donations and legacies Charitable activilk9S Investments 62,657 4,673 386 49.631 4,057 384 rotsl Income 67,716 54,072 Charitsble tIvitIeS 48,192 48.078 Net income for the yearl Ngt movement In lund8 19,524 5,994 Fund balanees at l April 2023 894,440 888.446 Fund balance5 at 31 March 2024 913,984 894,440 The statement of financial activth'es includes all gains and losses recognised in the year. All income and expendllure derive from continuing activities.
NEW LIFE CHURCH (REDCAR) BALANCE SHEEr ASAT31 MARCH 2024 2024 2023 Notss Flxed assets Tangible assgts 772,772 744,336 Current a$sots Debtors Cash at bank and in hand 10 363 151,076 145,347 145.347 151,439 Credltors: amounts fallSng due wlthln one year 11 14.1551 {1,3351 Net current assets 141,192 150,104 Totsl assets less ¢urr•nt Ilabllliles 913,964 894,440 Income lundg Unrestricted fijnds 913,964 894,440 913,964 894,440 The frnanaal slalements were approved by the Trustees on 8 November 2024 P Mlleham Trustse
NEW LIFE CHURCH (REDCAR) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcS08 Charlty Infomiation New Lrfe Churth (Redcarl is a charlt?ble Incorporated organi$8tion registered in England and wa8. T registered office 15 2 Ely CieKent, Redcar, TS10 3PT. New Lrfe Church {Redc8rl is situated at Grosmnl Close, Wesl ttyke R¢d, Redear, TS10 4PJ. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with th8 charity's goveming document, the Chariti8s Act 2011, FRS 102 The Finanal Reporting Standard applicable in the UK and Republio of Irdand" I'FRS 102.1 and the Charitie8 SORP "Accounting and ReFrt)rting by Charities.. Statement ol Recommended Practice applicable to Charilles preparing their accounts in 8ccord8nts with the Financl81 Reporting Sland8rd applicable in th8 UK and Republic of Ireland IFRS 102}" (effectlve 1 January 20191. The ¢harity is a Public Benefit Enlty as deffinèd by FRS 102. The Gharity has taken advantage ol the provisions in the SORP for charities not to prepare a Stalanent of Cash Flows. The financi81 st8lemenls have departed from the Charities {A¢counls and Roports} Regulations 2008 only to the extent required to provide a true and faif view. This departure h8$ Involved following the Statement of Rocommended Practice for ch8rilies applying FRS 102 rather than the version of the Slalement of Recomm&nded Practi which is Teferred lo In the Regulations but which has since been withdrawn. The financial statemen15 ère prepare(l in sterling, which is the functional currency of the charfty, Monetary amounts in these financval st8tements are rounded to the nearest £. The finanual statements have been prepared under the hi$toriGal cost convention. The principal accounting poliaes adopted ara sat out below. 1.2 Golng coneern Al the balance sheet dale, the charity had unrestricted fvnds of £913,964 12023 £894.440). We draw your attention to the financlal rewew on p8ge three of the trustees report. At the time of approvlng the ffnancial stslements. the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the frjrseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltable funds Unreslricled funds are available for use al the discretion of the Trustees in furtherance of their charilable objectives. Restricted funds are subject to speclfic conditions by donors as to how they may be used. The purposes and u$&s of the $tricted funds are $el Olrt in the notes to the financial stalemenls. Endowment funds are subject lo specific conditi'ons by donors that the cawtsl musl be mairrtained by the charity. 1A Incom$ Income is recognlsecl when the charity is legally entilled to it after any performance condthons have been me( the amounts can be meaSUd reliably, gnd il is probable that income wll be reived. Cash donations aro recognised on receipt. Other dorTrations are recognised once the charity Thes been notified of the donation. unless perfoimance condition5 require deterral of the amount. Income tsx recoverable in rdation lo donatsons received under GIftd or deeds of covenant is recognised at the time of the donatDn.
NEW LIFE CHURCH (REDCAR) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles {Conllnued} Legacies are recognised on receipt or othewse rf the charity ho$ been notified of an impending dtributIon, the amount is known. and receipt is expected. 11 the amount is not known, thè legacy Is treated as a CClIngent a8sel. 1.5 Expgndlture Expenditure 15 recognised once there Is a legal or conslruclive obligation to transfer economic benefit to a third paty, it is probable that a transfer of econ¢Jmic beneffts will be requlred In settlement, and the amount of the obligation can be measured reliably. ExpÈndftU Is classffied by actNity. The Costs of each adivity are made up of the lolal of dir&t cost8 and 8h8red eosts, including support costs involved in undertaking each 8fAivity. Direct costs attribulaÈ4e lo a single activity are allocated directly lo that actiwty. Shared ts which contribute to more than ene activity and support Costs whith are not attributable lo a single activity are apportioned betsveen those activilEs on a basis consislenl wth the use of resources. Central staff wst$ are allocated on the basis of Ilm8 spent, and depreciation charges are allocated on the portion of the asset's usa. 1.6 Tanglble fixod assets Tanglble fixed assets are Inilialty measured at cost and subsequenty measured at cost or valuatlon, net of depreciation and any imp8imenl10sses. Depreciation 15 recognised so as lo lte off Iha ¢ost or valuation of assets le88 Ihelr residual values over their useftjl lives on tho followng bases.. Freehold18nd and building8 Plant and equipment Not Depreciated 10% Reducing Balan The gain or loss arislng on the dlsposal of an asset is detenTrined as the difference between the sale prLKeed$ and the carying value of the asset, and is recognised in the statement of finanual actr.ves. The building is used for the organisation'$ ¢harrtable actlvrties, the organisation beli6ves the value will not dlmlnlsh significantly over time. 1.7 Impalm)6nt of fixed assets At each reporting end date, the charity rewews the carying amounts of 115 langlble assets to detemiine whether there is any indicallon Ihat those a$sel$ have suffered an impaimenl less. If any such IndtIOn exists, the recoverable amount ol the a$$el is estimated in order lo determine the extent of the impairment l¢)ss Irf any). 1.8 Cash and cash •qulvalgnts Cash and cash equlvalents include cB5h in hand, deposrts held al call wrth banks, other short-tem liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts afe shown within bc*rrowings in current liabilrties. 1.9 Flnanclal Instruments The charlty has elected lo apply the provisions of Saction 11 'Basic Financial Instruments, and Se10n 12 'Other FinancBI Instruments18sues' of FRS 102 to all of ils financial instruments. Financial instruments are recognised In the charity'$ balance sheet vthen the charity becomes paty lo the conlradual provisions of the instrument. Financial assets and liabilrtiès are offset. wlh the nel amounts presented in the financial slatsments, when there is a legally enforceable right to sel off the recognised amounts and there is an intention lo settle on a net basis or lo rgalise the asset and settle the liabilty simultsneously.
NEW LIFE CHURCH (REDCAR) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontlnued) B8s1¢ Ilnanclal assets Basic financial assets, which include debtors and cash and bank balances. are InallY measured transaction price including transaction costs and are subsequently carried at amorti8ed Cost the effectivè interest method unless the arrangemenl ¢onstrtules a finanang transaction. where the transaction is measured at the present V81ue of the future receipts discounted at a market Tate of inter8st. Finarri81 assets classified as receivable thift one year are not amortised. Bas1¢ fin*ncièl liebilities Basic financlal liabilllies, including creditors and bank loans are initially recognised at transaction price unl8SS th8 aangement constilLrtes a financing transactlon, where the debt instrument is measured at the present value of the futu payments discounted al a market r8te of interest. Financial Ilabililies classified 88 payable wthin one year are not amorttsed. Debt instruments are subsequently rried al amortised cost, uslng thè effective interest rate method. Trade credllors are obligations lo pay for goods or $gNices that have been acquired In the ordinwy cour86 of operations from suppli&rs. Amounts payable are dassified as current liabilrties if payment is due wilhln one year er less. If rnl, they are presented as non-current liabilities. Trade creditors are recogni58d initially at transaction price and subsequendy measured at amorbsed cost Using tha effective interest method. Derecognition of flnanclal Ilabilitigs Flnancial ILabililies are derecoJnised when the charity's contraclual obligations expire or are dlsch8rged or C8ncelled. 1.10 Employge beneflts The cost ol any unused holiday entlllemenl Is reeegnised in the period in %thleh the employ88 s sorvices are received. TemlnaOon benerrts are recognised immediately as an oxp8nse %then the charity is demonstrally committed to lermlnate the employment of an employee or lo provide lemiination benefrts. 1.11 Rotlremont boneflts Payments to tsfined contribution retirement benefit sehemes are charged as an expanse as they fall due. Donation$ and legacles Unrestrlded Unrestrictod funds funds 2024 2023 Offerings HMRC.. Gift Aid rebate 56,6CNS 7,051 42.125 7.506 62,657 49,631
NEW LIFE CHURCH {REDCAR> NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable o¢livities Unr•strlcted unrtrIctod funds funds 2024 2023 Coffee bar RM hire 3,653 1.020 3,537 520 4,673 4.057 Investments Unrostrlctsd Unrestrlct8d funds lund$ 2024 2023 Interest reeeivable Charllable activitlos Unr8$trlctsd Unrestrlcted funds funds 2024 2023 Staff costs Repairs and renewals Rates 31,765 1,407 677 5,352 413 427 191 30,029 4.303 516 6.214 402 308 148 720 176 1.423 104 1,3 560 1,350 525 Telephone Advertising Sundrie8 Chuieh Supplies Licenses Insurance Legal & Prolessional Donations Deprea81iDn Independent examiners fees Evangelism 188 1,593 2,805 650 1.296 787 48,192 48,078 48,192 48,078 10-
NEW LIFE CHURCH (REDCAR) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trusteas None of the Trustees lor aw person$ Gonngcted wh th8ml received any remunèration or benefits kn the charity during thè year. Employees The average monthly number of employ8es during th8 year was.. 2024 Number 2023 Number Employment costs 2024 2023 ges and salaries Other pension costs 31,500 265 30.029 31.765 30,029 Thgre were no 6mplDyees whose annual remunerati)n was rnore than £60,000. Taxatlon The chartty 18 èxempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or sectlon 252 of the Taxab'onol Chargeae G8insAct 1992 to the exienl that these are applied to ils charitsble objects. Tangible fixed a$$ets Frn•hoW land and bulldlng$ Plant and ooulpmgnt Total Cost At 1 April 2023 Additions 737,890 28.898 8,910 188 746,800 29.086 At 31 March 2024 766,788 9,098 775,886 Dopr8clallon and impairm•nt At 1 Apiil 2023 Depr8dalion charged in the year 2,464 650 650 At 31 March 2024 3,114 3.114 Carylng amount At 31 March 2024 786,788 5,984 772,772 Al 31 March 2023 737,890 6,446 744.33e 11
NEW LIFE CHURCH (REDCAR) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Debtors 2024 2023 Amounts falllng du• wlthln one yoar.. Other debtors 363 11 Credltors: amounts falllng due wlthln one year 2024 2023 Olhor taxation and social security Other creditors Accruals and deferred ineom& 303 2,511 1,080 1.032 4,155 1,335 12 Rèlatod party transactions There wgre no disclosable reLated party transactions during the year12023 - none). 12-