2023-03-31-accounts - New Covenant Church Strongnation Stevenage

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NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023

NEW COVENANT CHURCH STRONGNATION

FINANCIAL STATEMENTS

31 MARCH 2023

Final Accounts

Charity Number 1181992

NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT PERIOD FROM 1 APRIL 2022 TO 31 MARCH 2023

CONTENTS	PAGE
Trustees annual report	1
Statement of financial activities	6
Income and expenditure account	8
Balance sheet	10
Cash flow statement	9
Notes to the financial statements	11
The following pages do not form part of the financial statements
Detailed statement of financial activities	17

The Trustees present their report and the unaudited financial statements of the Charity for the period from 01 April 2022 to 31 March 2023.

NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name

New Covenant Church Strong Nation Stevenage

Charity Registration Number

1181992

Registered Address 38 Willow Close Cheshunt, Waltham Cross Hertfordshire EN7 6R Worship Centre Barnwell Middle School Shephall Green, Stevenage, Herts, SG2 9XT

The trustees

The Trustees who served the Charity during the period were as follows:

Oluwagbemiga Badejo Dr Daniel Osikominu MB, BS David Konu Abi Banwo Feyisayo Adesigbin

Chair Oluwagbemiga Badejo Officiating Minister: Revd. Enitan Idowu Independent Examiner Bliss Accounting Services

NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2023

1. STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Trust Deed and Governing Document
b. Method of appointment or election of Trustees
c. Organisational structure and decision making
d. Related party relationships
e. Risk management

The charity is constituted under a Trust Deed and is a registered charity number 1181992. The management of the church is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust Deed. The church is organised so that the trustees meet regularly to manage its affairs. The day-to-day administration and the spiritual guidance of the church is managed by the officiating minister. New Covenant Church Strong Nation is a member of the New Covenant Church which has parishes all over the world. The Trustees have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the church, and are satisfied that systems are in place to mitigate our exposure to the major risks.

2. Mission.

Serve God

Our service to God is born out of our love for HIM. It is every believer’s desire to serve God and anchor our existence on ensuring His Kingdom is established here on earth.

Support Society

We are committed to being a people that live for God. Standing as a generation of believers with a strong desire to be a people meeting the needs of God here on earth. God is able to achieve a lot through us.

Spread the Gospel

As we grow, we believe we increase our capacity to make an impact as believers both individually and as a community. We want to lead lives that draw many to Christ in our careers, businesses, families and more.

3. OBJECTIVES AND ACTIVITIES

To seek the advancement of Christian life and educate people in the Word of God.
To spread the knowledge and love of Jesus Christ all over Stevenage, Hertfordshire and beyond.
To help in the relief of poverty, sickness and financial hardship in all parts of the world: directly to our immediate members, their families, members of the local, national and international community as occasion would demand, in cash and in-kind.
To promote and preserve good health by organising health talks, lectures, seminars, education, and support.
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities

NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2023

4. ACHIEVEMENTS AND PERFORMANCE.

The Trustees support the minister- in - charge in carrying out the objectives and activities of the church by providing the enabling governance structure, knowledge and spiritual support required to ensure that they are met. The Trustees and the minister in charge review our activities from time to time in meeting the Charity Commissions general guide on public benefit in ensuring that our activities incorporate the many groups that live within our parish and within the framework of our Trust Deed and Statement of Faith.

Review of activities

A. IGNITION; Bible Study and Prayer Meeting

Ignition, our mid-week services provide an interactive forum which is open to member and the general public to learn, interact, ask questions and get answers to the life’s complicated issues. The meeting focusses on how attendees can practically live in love for their neighbours through the in-depth understanding of the bible without compromising their Christian values. The meeting provides an opportunity for attendees to put their faith into practice, learn about the gospel and developed their knowledge and trust in Jesus Christ. All through the year, this has been beneficial and spiritually equipping as it empowers and motivates attendees in living a life of purpose and faith as Jesus Christ our Saviour did. The meeting also creates an avenue to socialise with people, address mental health issues and an opportunity to have sessions with the pastor.

B. Sunday Services

During the reporting year, we resumed face-to-face weekly Sunday services. Our Sunday and other services including Holy Communion Services are open to the general public. These services provide the opportunity for worship and celebration of milestones by parishioners in a warm environment. During the reporting year parishioners celebrated landmark birthdays, academic graduations, new homes and offer of thanksgiving to God for major events in their lives and families. We also celebrated Mother’s Day, Father’s Day, Easter/Resurrection Celebration, Christmas Carol and New Year Thanksgiving. All these events enabled parishioners to develop their Christian faith and enhances personal developments. Parishioners made personal progress in life through personal interactions, and they developed interpersonal skills that enabled them to gain the relevant confidence to make an impact in the wider world.

C. Mission and Evangelism

We held two outdoor events dedicated to spreading the gospel and, enlightening people of the love of Jesus and the hope that He brings to lives. These events focused on people in Stevenage. At Christmas, we also made donations to a homeless charity in Stevenage. We continue to propagate the gospel online via various social media platform. This has attracted people for within and outside the United kingdom. Our messages and preaching are available online .

D. Men and Women Focus Group

‘All for One’ is a focus group created to support men and an avenue where men-related subjects such as family life, profession, business, spiritual development etc are discussed based on the teaching of the Bible. There have been positive responses, and members have testified to the impact the group has made in their lives and development. Outside the main events held by Strong Nation, the group

NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2023

attend events held by Covenant Men International, which is a similar group in the wider Covenant Church International group. Like with all our other events, ‘All for One’ is open to men outside Strong Nation. ‘All for One’ currently have 25 members.

Covenant Women International Strong Nation (CWI Strong Nation) is a women group similar to the men’s group. They hold regular events to support women through prayers, mentoring and sharing the word of God. CWI Strong Nation has about 20 regular members.

E. Youth Events

During the reporting year, we engaged in youth activities. The charity organised weekly youth service meetings where young people engaged themselves in topical issues to enhance self-actualisation and development. The group his managed by a season children minister

F. Community Engagement

In the reporting year, the church held conferences and meetings that addressed current issues that our community faces. These meetings were opened to the public and focussed on different demographical groups. We pray and preach the good news of salvation not only in Stevenage but in many other parts of the UK.

Strong Nation held a quarterly music event which builds spiritual development and interpersonal relationship. This event is called “Total Praizze”. For this event, we invite guest artists to lead the church in praise and worship, and it also provides an opportunity to showcase our in-house choir. This is a very popular event which draws in people outside our regular members.

Annually we hold a summer barbeque party which is open to everyone. Through this event, we engage the community and propagate the gospel. The feedback for both events have been encouraging.

5. FINANCIAL REVIEW

a. Income.

Donations, tithe and gifts from members is the main source of income for the charity during the reporting period. We received ££44.5k in income, of which £27k was retained as surplus. The expense for the period was related to the charitable’ activities.

b. Reserves policy

The Trustees have established a policy whereby the unrestricted funds not committed or invested in intangible fixed assets (‘the free reserves’) held by the church should cover a quarter of our annual expenditure. At this level, the trustees feel that they would be able to continue the current activities of the church in the event of a significant drop in funding.

c. Investment policy and performance

NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023

The trustees have decided that at present, funds should be retained in Bank. Any change in such banking arrangements should be agreed upon by the board. As far as possible, funds will be retained in interest-bearing accounts.

d. Grant making policies

Strong Nation is affiliated to the New Covenant Church international and has agreed to make donations to it to assist in the delivery of our shared objectives and mission. These donations are made through the conference centre. The church also provide financial support to members of the congregation who are in need. This is at the discretion of the trustees and are considered to be in line with the charitable objective of the church.

e. Volunteers

The church is grateful for the immense contributions and efforts of its volunteers who are involved in the provision and delivery of church services and administration. It is estimated that about 2200 volunteer hours were provided during 2022/2023 reporting year cutting across 20 volunteers. If this is valued at £10.50 an hour, the volunteer effort amounts to about £23,100.00.

6. PLANS FOR FUTURE PERIODS

a. Future developments

We are seeking to obtain a lease or outright purchase of a permanent place of worship which will also be used as a community centre. This will enable us to carry out a wide range of community-based projects that we are unable to do at the moment.

Trustee Responsibilities

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity 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 in the Charities SORP;
Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards 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 operation.

The Trustees are responsible for keeping proper accounting records that 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 and the Charity (Accounts and Reports) Regulations 2008. The Trustees 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.

NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2023

Signed by order of the Trustees

29/01/24

NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Independent Examiners Report

I report to the trustees on my examination of the accounts of the above NCC Strong Nation for the period ended 31 March 2023.

Responsibilities and basis of the 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”).

Independent examiner's statement

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 130 of the Act or
the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Henry Moses. Bliss Accounting Services 4th Floor, Victoria House Victoria Road Chelmsford CM1 1JR Date: 30/01/2024

NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

INCOME AND EXPENDITURE

INCOME AND EXPENDITURE
ACCOUNT
Note INCOMING RESOURCES Incoming resources from generating funds: Voluntary income TOTAL INCOMING RESOURCES RESOURCES EXPENDED Charitable activities TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES FOR THE PERIOD RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestric ted Funds £ 44,418 44,418 44,418 - 44,418	Restricted Funds £ - - (17,370) (17,370) (17,370) (17,370)	Total Funds 31st March 23 £ 44,418	Total Funds 31st March 22 £ 46,706
			44,418	46,706
			(17,370)	(19,762)
			27,048	26,944
			27,048 27,048	26,944
				26,944

NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

£ INCOME TOTAL EXPENDITURE OPERATING SURPLUS SURPLUS FOR THE PERIOD	31st March 23 31st March 22 £ £ 44,418 44,706 (17,370) 19,762
	27,048 26,944

	27,048 26,944

NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

BALANCE SHEET As At March 31 March 2023
Note FIXED ASSETS Tangible assets 7 CURRENT ASSETS Cash at bank 12 Debtor 8 CURRENT LIABILITY Creditor NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS Unrestricted income funds TOTAL FUNDS	197,967 -	31-Mar-23 31-Mar-22 £ £ 1,327 3,625 197,967 170,621 - 1,386 1,386

		196,582 169,236
		───────── ───────── 197,909 172,861 ═════════ ═════════ 197,909 172,861
		197,909 172,861

NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

CASH FLOW STATEMENT Note NET CASH INFLOW FROM OPERATING ACTIVITIES 9 Financing Activities Support Loan Repa CAPITAL EXPENDITURE Payments to acquire tangible fixed assets Net cash outflow from capital expenditure INCREASE IN CASH 10 Cash Balance as at 31 March 2023 Cash Balance as at 31 March 2022	Mar-23 £
	29,346
	18000
	31,386
	- -
	47,346
	197,697 150,621

The notes on pages 12 to 15 form part of these financial statements

NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in 2019 (SORP 2019 and the Charities Act 2011.

Fixed assets.

All fixed assets are initially recognised at cost and maintained at net book value (after depreciation).The useful economic life of our asset class are as below.

Equipment, Fittings and Furniture 20%

2 VOLUNTARY INCOME

Donations Donations Gift Aid	Unrestricted Funds Total Funds 2023 £ £ 44,418 44,418 - -
	44,418 44,418

3 COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

Charitable activity type 1 (amend desc's for a/cs 330A, 330B and 330C to alter col. headings)	Restricted Funds Total Funds 2023 £ £ 17,370 17,370
	17,370 17,370

NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4 COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE Charitable activity type 1 (amend desc's for a/cs 330A, 330B and 330C to alter col. headings) 5 GOVERNANCE COSTS Accountancy fees Other financial cost/bank charges 6 STAFF COSTS AND EMOLUMENTS Total staff costs were as follows: Wages and salaries Social security costs	Support costs 2023 Total Funds 2023 £ £ 17,370 17,370
	Restricted Funds Total Funds 2023 £ £ - - - -
	- -
	Period from Period from 31 March 2023 31 March 2022 £ £ - - - -
	- -

NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Particulars of employees:

Particulars of employees:
The average number of employees during the period, calculated on		March
the basis of full-time equivalents, was as follows:	March 2023	2022
	Nil	Nil
No employee received remuneration of more than £60,000 during
the period (2023 - Nil).

7 TANGIBLE FIXED ASSETS Opening Balance Additions Disposal At 30 March 2023 DEPRECIATION Opening Balance Depreciation Charged At 30 March 2023 NET BOOK VALUE At 30 March 2022 8 Debtor Loan	Plant and machinery £ COST 11,490 - - 11,490 7,865 2,298 10,164 1,327 3,625 31 March 2023 31 March 2022 £ £ - 20,000

NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

20,000

9[RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH INFLOW ] FROM OPERATING ACTIVITIES

RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH INFLOW FROM OPERATING ACTIVITIES
Net incoming resources before transfers Depreciation Net cash inflow from operating activities	31 March 2023 31 March 2022 £ £ 27,048 26,944 2,298 2,298
	29,346 29,242

RECONCILIATION OF NET CASH FLOW MOVEMENT TO MOVEMENT IN NET DEBT
	31 March	30 March
	2023	2022
	£	£
Increase in cash in the period	29,346	29,242
	─────────	─────────
Change in net funds	29,346	29,242

11 ANALYSIS OF CHANGES IN NET FUNDS

	31 March 2023	30 March 2022
	£	£
Cash at bank	197,967	150,621
	════════	═════════

NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

The following pages do not form part of the statutory financial statements