## Trustees Annual Report
The year was immensely challenging on a number of fronts. There was need for organisational restructuring including a reassessment of our vision and reevaluating as well as rewriting our mission statement with the assistance of some experienced external individuals, to whom we remain very grateful. Our involvement with the M4 program was very profitable and provided much needed support for our Church plant.
**Charity number: 1179017**
## **NEW LIFE CHURCH EMERSON PARK**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JULY 2020**
## **NEW LIFE CHURCH EMERSON PARK**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Statement of financial activities**|5|
|**Balance sheet**|6|
|**Notes to the financial statements**|7 - 14|
**NEW LIFE CHURCH EMERSON PARK**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2020**
|**Trustees**|Olusheyi Oriade, Chair|
|---|---|
||Kevin Nichols, Treasurer (resigned 24 February 2020)|
||Marion Popkin, Trustee (resigned 3 April 2020)|
||Ernest Akwenuke, Trustee|
||Olayiwola Akwenuke, Trustee (appointed 2 May 2020)|
**Charity registered number** 1179017 **Principal office** 198 Lodge Lane Grays RM16 2TP
Page 1
## **NEW LIFE CHURCH EMERSON PARK**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2020**
The Trustees present their annual report together with the financial statements of the Charity for the 1 August 2019 to 31 July 2020.
## **Objectives and activities**
## **a. Policies and objectives**
The objects of the CIO are
(a) The advancement of the Christian faith by such means as the charity trustees may consider appropriate and in particular (though not by limitation) by conducting, organising or undertaking evangelistic work in various ways to the local community and other place in the United Kingdom and at the discretion of the charity trustees elsewhere.
(b) To help young people especially but not exclusively through leisure time activities, so as to develop their capabilities that they may grow to full maturity as individuals and members of society.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Strategies for achieving objectives**
Carrying out Christian Faith Services and Activities
## **c. Activities undertaken to achieve objectives**
- Weekly Christian Fellowship
- Weekly Community Coffee Morning Outreach
- Evangelism
## **d. Main activities undertaken to further the Charity's purposes for the public benefit**
- Children's Activity
- Community Choir
- MS Support Initiative
## **Achievements and performance**
## **a. Main achievements of the Charity**
- Children's Activity
- Christmas music concert
- Spiritual Support for local Christians
Page 2
## **NEW LIFE CHURCH EMERSON PARK**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020**
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
The charity aims to retain sufficient reserves to ensure it meets its commitments to providing its services and activities.These reserves are designed to cover a minimum of £500.
## **Structure, governance and management**
## **a. Constitution**
New Life Church Emerson Park is a registered charity, number 1179017, and is constituted under a Trust deed.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
## **NEW LIFE CHURCH EMERSON PARK**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020**
Approved by order of the members of the board of Trustees on 25 May 2022 and signed on their behalf by:
## **Olusheyi Oriade**
Page 4
## **NEW LIFE CHURCH EMERSON PARK**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020**
|**Note**
**Income from:**
Donations and legacies
3
**Total income**
**Expenditure on:**
Charitable activities
4
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2020**
**£**
**10,238**
**10,238**
**10,585**
**10,585**
**(347)**
**1,571**
**(347)**
**1,224**|**Total**
**funds**
**2020**
**£**
**10,238**
**10,238**
**10,585**
**10,585**
**(347)**
**1,571**
**(347)**
**1,224**|_Total_
_funds_
_2019_
_£_
_9,050_|
|---|---|---|---|
||||_9,050_|
||||_7,479_|
||||_7,479_|
||||_1,571_|
||||_-_
_1,571_|
||||_1,571_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 14 form part of these financial statements.
Page 5
## **NEW LIFE CHURCH EMERSON PARK**
## **BALANCE SHEET AS AT 31 JULY 2020**
|**Note**
**Current assets**
Debtors
7
Cash at bank and in hand
Creditors: amounts falling due within one
year
8
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Unrestricted funds
9
**Total funds**|**1,500**
**824**
**2,324**
**(1,100)**|**2020**
**£**
**1,224**
**1,224**
**1,224**
**1,224**
**1,224**
**1,224**|_1,500_
_571_
_2,071_
_(500)_|_2019_
_£_
_1,571_|
|---|---|---|---|---|
|||||_1,571_|
|||||_1,571_|
||||||
|||||_1,571_|
|||||_1,571_|
||||||
|||||_1,571_|
The financial statements were approved and authorised for issue by the Trustees on 25 May 2022 and signed on their behalf by:
## **Olusheyi Oriade**
## **Ernest Akwenuke**
The notes on pages 7 to 14 form part of these financial statements.
Page 6
## **NEW LIFE CHURCH EMERSON PARK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **1. General information**
The charity is registered in England. The address of the registerd office is given in the charity information page of these financial statements.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
New Life Church Emerson Park meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **2.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.4 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 7
## **NEW LIFE CHURCH EMERSON PARK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **2. Accounting policies (continued)**
## **2.5 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.6 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **2.7 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.8 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
## **3. Income from donations and legacies**
|Donations
_Total 2019_|**Unrestricted**
**funds**
**2020**
**£**
10,238
_9,050_|**Total**
**funds**
**2020**
**£**
**10,238**
_9,050_|_Total_
_funds_
_2019_
_£_
_9,050_|
|---|---|---|---|
|||||
Page 8
## **NEW LIFE CHURCH EMERSON PARK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **4. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Charitable activities
_Total 2019_|**Unrestricted**
**funds**
**2020**
**£**
10,585
_7,479_|**Total**
**funds**
**2020**
**£**
**10,585**
_7,479_|_Total_
_funds_
_2019_
_£_
_7,479_|
|---|---|---|---|
|||||
## **5. Analysis of expenditure by activities**
|Charitable activities
_Total 2019_|**Support**
**costs**
**2020**
**£**
10,585
_7,479_|**Total**
**funds**
**2020**
**£**
**10,585**
_7,479_|_Total_
_funds_
_2019_
_£_
_7,479_|
|---|---|---|---|
|||||
Page 9
**NEW LIFE CHURCH EMERSON PARK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **5. Analysis of expenditure by activities (continued)**
## **Analysis of charitable activities**
|Telephone and internet
Musical instrument
Light and heating
Water rate
Repairs and maintenance
Computer costs
Sundry expenses
Insurance
Accountancy fees
Church materials
Bank charges
Cleaning
Exp type 15
Community help
Sundry expenses
Rent
_Total 2019_|**Activities**
**2020**
**£**
567
-
593
319
91
311
126
471
600
980
395
330
-
628
174
5,000
10,585
_7,479_|**Total**
**funds**
**2020**
**£**
**567**
**-**
**593**
**319**
**91**
**311**
**126**
**471**
**600**
**980**
**395**
**330**
**-**
**628**
**174**
**5,000**
**10,585**
_7,479_|_Total_
_funds_
_2019_
_£_
_612_
_259_
_485_
_315_
_574_
_256_
_264_
_523_
_500_
_-_
_-_
_-_
_450_
_101_
_15_
_3,125_|
|---|---|---|---|
||||_7,479_|
|||||
## **6. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2019 - £NIL)_ .
During the year ended 31 July 2020, no Trustee expenses have been incurred _(2019 - £NIL)_ .
Page 10
## **NEW LIFE CHURCH EMERSON PARK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **7. Debtors**
|**Due within one year**
Other debtors|**2020**
**£**
**1,500**
**1,500**|_2019_
_£_
_1,500_|
|---|---|---|
||||
|||_1,500_|
## **8. Creditors: Amounts falling due within one year**
||**2020**|_2019_|
|---|---|---|
||**£**|_£_|
|Accruals and deferred income|**1,100**|_500_|
Page 11
## **NEW LIFE CHURCH EMERSON PARK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **9. Statement of funds**
**Statement of funds - current year Balance at 1 Balance at August 2019 Income Expenditure 31 July 2020 £ £ £ £ Unrestricted funds** General Funds - all funds **1,571 10,238 (10,585) 1,224**
Page 12
## **NEW LIFE CHURCH EMERSON PARK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **9. Statement of funds (continued)**
**Statement of funds - prior year**
**----- Start of picture text -----**
Balance at
Income Expenditure 31 July 2019
£ £ £
Unrestricted funds
Unallocated amounts 9,050 (7,479) 1,571
**----- End of picture text -----**
## **10. Summary of funds**
**Summary of funds - current year**
## **11.**
|**Balance at 1**
**August 2019**
**£**
General funds
**1,571**
**Summary of funds - prior year**
General funds
**Analysis of net assets between funds**
**Analysis of net assets between funds - current period**
Current assets
Creditors due within one year
**Total**|**Income**
**£**
**10,238**
_Income_
_£_
_9,050_|**Expenditure**
**£**
**Balance at**
**31 July 2020**
**£**
**(10,585)**
**1,224**
_Expenditure_
_£_
_Balance at_
_31 July 2019_
_£_
_(7,479)_
_1,571_
**Unrestricted**
**funds**
**2020**
**Total**
**funds**
**2020**
**£**
**£**
2,324
**2,324**
(1,100)
**(1,100)**
1,224
**1,224**|
|---|---|---|
Page 13
## **NEW LIFE CHURCH EMERSON PARK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **11. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior period**
|Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2019_
_£_
_2,071_
_(500)_
_1,571_|_Total_
_funds_
_2019_
_£_
_2,071_
_(500)_
_1,571_|
|---|---|---|
## **12. Related party transactions**
The Trustees confirm that there have been no related party transactions during the year which require disclosure under FRS 8 Related party transactions.
Page 14