REGISTERED CHARITY NUMBER: 1181657
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 21 JANUARY 2022
FOR
NEW COVENANT MINISTRIES
Cooper Adams Ltd 12 Payton Street Stratford upon Avon Warwickshire CV37 6UA
NEW COVENANT MINISTRIES
REPORT OF THE TRUSTEES for the Year Ended 21 January 2022
The trustees present their report with the financial statements of the charity for the year ended 21 January 2022. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance the Christian faith for the public benefit in the UK and worldwide in accordance with the Statement of Faith, mainly but not exclusively by means of providing:
· A place of worship
- Pastoral care and outreach
Significant activities
The benefits to the public are:
A place of worship
Providing a place of worship that is multi-ethnic for the public benefit in accordance with the Christian faith, particularly in but not exclusive to the West Midlands.
Pastoral care
Providing pastoral care and support in areas such as marriage, family, finance and employment in accordance with the Christian faith, particularly in but not exclusive to the West Midlands. This service will empower all members of the public by helping them develop skills and knowledge to prevent or address specific societal problems i.e. unemployment, homelessness, anxiety and depression, etc.
Community Outreach
Providing food, clothing and other forms of support to members of the public who are disadvantaged and or in abusive or dangerous situations. This is particularly in but not exclusive to the West Midlands.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Charity has impacted over 1500 lives over the year through the below :
-
Providing financial and pastoral support for local communities in Birmingham
-
Providing a place of worship for members of the Birmingham community
-
Conferences, personal, spiritual development courses to empower the lives of people
-
Homeless outreaches through food banks and also other evangelical outreach activities
-
Counselling services for tackling mental health challenges of people in the community
-
Marriage and parental support classes
-
Employment and business support training
-
Community sport gatherings to bring people of the local community together
FINANCIAL REVIEW
Reserves policy
The reserves held within the charity are to sustain a community providing a place of worship, pastoral care and outreach, ensuring that the objectives and activities of the New Covenant Ministries are fulfilled. The Charity holds £91,672 (2021:£74,626) in reserves to allow for costs of buildings and the upkeep of the needs of the charity members. The reserves can be spent on funding the building project of the charity as well as other administrative costs of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity trustees shall manage the affairs of the CIO and may for that purpose exercise all the powers of the CIO.
The governing document is the model constitution of New Covenant Ministries and is a CIO.
Recruitment and appointment of new trustees
Apart from the first charity trustees, every trustee must be appointed [for a term of one year] by a resolution passed at a properly convened meeting of the charity trustees.
In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
Page 1
NEW COVENANT MINISTRIES
REPORT OF THE TRUSTEES for the Year Ended 21 January 2022
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1181657
Principal address
240 Marsh Lane West Bromwich West Midlands B71 2DB
Trustees
E Adeseko Pastor M Longe Treasurer (appointed 31.1.21) Miss O Adebayo
Independent Examiner
Cooper Adams Ltd 12 Payton Street Stratford upon Avon Warwickshire CV37 6UA 28/12/2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. E Adeseko - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW COVENANT MINISTRIES
Independent examiner's report to the trustees of New Covenant Ministries
I report to the charity trustees on my examination of the accounts of New Covenant Ministries (the Trust) for the year ended 21 January 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
David Cooper Chartered Accountant Cooper Adams Ltd 12 Payton Street Stratford upon Avon Warwickshire CV37 6UA
Date: .............................................
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NEW COVENANT MINISTRIES
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 21 January 2022
| Period | |||
|---|---|---|---|
| 1.12.19 | |||
| Year Ended | to | ||
| 21.1.22 | 21.1.21 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 74,410 | 46,566 | |
| Charitable activities | |||
| Other income from church activities | 171 | 1,573 | |
| Total | 74,581 | 48,139 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Other activities of the church | 57,655 | 24,831 | |
| NET INCOME | 16,926 | 23,308 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 74,626 | 51,318 | |
| TOTAL FUNDS CARRIED FORWARD | 91,552 | 74,626 |
The notes form part of these financial statements
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NEW COVENANT MINISTRIES
BALANCE SHEET 21 January 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 4 3,597 CURRENT ASSETS Debtors 5 6,362 Cash at bank 86,589 92,951 CREDITORS Amounts falling due within one year 6 (4,996) NET CURRENT ASSETS 87,955 TOTAL ASSETS LESS CURRENT LIABILITIES 91,552 NET ASSETS 91,552 FUNDS 7 Unrestricted funds 91,552 TOTAL FUNDS 91,552 |
2021 Total funds £ - - 74,626 74,626 - 74,626 74,626 74,626 74,626 74,626 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. O Adebayo - Trustee
The notes form part of these financial statements
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NEW COVENANT MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 21 January 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 21 January 2022 nor for the period ended 21 January 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 21 January 2022 nor for the period ended 21 January 2021.
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continued...
NEW COVENANT MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 21 January 2022
3. STAFF COSTS
The average monthly number of employees during the year was as follows:2 (2021:nil)
4. TANGIBLE FIXED ASSETS
| 4. | TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|---|
| Plant and | |||||
| machinery | |||||
| £ | |||||
| COST | |||||
| Additions | 3,867 | ||||
| DEPRECIATION | |||||
| Charge for year | 270 | ||||
| NET BOOK VALUE | |||||
| At 21 January 2022 | 3,597 | ||||
| At 21 January 2021 | - | ||||
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| Other debtors | 2022 £ 6,362 |
2021 £ - |
|||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| Taxation and social security | 2022 £ 876 |
2021 £ - |
|||
| Other creditors | 4,120 | - | |||
| 4,996 | - | ||||
| 7. | MOVEMENT IN FUNDS | ||||
| Unrestricted funds | At 22.1.21 £ |
Net movement in funds £ |
At 21.1.22 £ |
||
| General fund | 74,626 | 16,926 | 91,552 | ||
| TOTAL FUNDS | 74,626 | 16,926 | 91,552 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
||
| General fund | 74,581 | (57,655) | 16,926 | ||
| TOTAL FUNDS | 74,581 | (57,655) | 16,926 | ||
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continued...
NEW COVENANT MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 21 January 2022
7. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| At | movement | At | |
| 1.12.19 | in funds | 21.1.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 51,318 | 23,308 | 74,626 |
| TOTAL FUNDS | 51,318 | 23,308 | 74,626 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 48,139 | (24,831) | 23,308 |
| TOTAL FUNDS | 48,139 | (24,831) | 23,308 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 21 January 2022.
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NEW COVENANT MINISTRIES
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 21 January 2022
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 21 January 2022 |
||
|---|---|---|
| Period | ||
| 1.12.19 | ||
| Year Ended | to | |
| 21.1.22 | 21.1.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Tithes and offerings | 74,410 | 46,566 |
| Charitable activities | ||
| Book sales | 171 | 140 |
| Church marketing | - | 1,307 |
| Hall and room hire | - | 126 |
| 171 | 1,573 | |
| Total incoming resources | 74,581 | 48,139 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 20,871 | 6,000 |
| Hall and room costs | 14,788 | 7,417 |
| Counselling | 90 | 1,710 |
| Book sales | - | 95 |
| Benevolence Fund | 3,286 | 1,469 |
| Other church activities | 8,314 | 2,012 |
| Support costs | 47,349 | 18,703 |
| Other | ||
| Telephone | 95 | 78 |
| Sundries | 788 | 633 |
| Software subscription | 1,956 | 1,780 |
| Church marketing | 200 | 1,453 |
| Stationery | 12 | 19 |
| Admin costs | 120 | 134 |
| Accountancy Fees | 1,920 | 818 |
| Training | - | 1,000 |
| Media equipment | 2,112 | 213 |
| Professional fees | 2,245 | - |
| Travel | 262 | - |
| Insurance | 326 | - |
| Depreciation | 270 | - |
| 10,306 | 6,128 | |
| Total resources expended | 57,655 | 24,831 |
| Net income | 16,926 | 23,308 |
This page does not form part of the statutory financial statements
Page 9
NEW COVENANT MINISTRIES
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 21 January 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 8 |
| Detailed Statement of Financial Activities | 9 |