## **NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024**
## **NEW COVENANT CHURCH STRONGNATION**
## **FINANCIAL STATEMENTS**
**31 MARCH 2024**
**Final Accounts**
**Charity Number 1181992**
**NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT PERIOD FROM 1 APRIL 2023 TO 31 MARCH 2024**
|**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 2023 to 31 March 2024.
**NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered charity name**
New Covenant Church Strong Nation Stevenage
**Charity Registration Number**
1181992
## **Registered Address**
**Worship Centre**
Turpins Rise, Broadwater, Stevenage SG2 8QR Turpins Rise, Broadwater, Stevenage SG2 8QR
## **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
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## **NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024**
## **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
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## **NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **4. ACHIEVEMENTS AND PERFORMANCE.**
The Trustees support the officiating minister 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 officiating minister 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 members and the general public to learn, interact, ask questions and get answers to life’s complicated issues. The meeting focusses on how attendees can practically live in love with their neighbours through the indepth 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 pastors.
## **B. 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 welcoming environment. During the reporting year, parishioners celebrated landmark birthdays, academic graduations, and offer of thanksgiving to God for major events in their lives and families. We also celebrated Mother’s Day, Father’s Day, Easter, Christmas Carol and New Year Thanksgiving. All these events enabled parishioners to develop their Christian faith and enhances personal developments.
## C. **Mission and Evangelism**
We held two outdoor events dedicated to spreading the gospel and, enlightening people about 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 from within and outside the United Kingdom. Our messages and preachings 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, career, 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 attend events held by Covenant Men International, which is a similar group in the wider New 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 27 members.
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## **NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024**
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 25 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 facing our community. 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.
## **G. Personal Development Training**
The church organised a Leadership training over this period. This was to equip its members with the skills to lead with purpose and excellence in their personal and professional lives. This training was open to anyone and was well received by all the participants.
## **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 £57k in income, of which £26k was retained as surplus. The expense for the period was related to 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.
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## **NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **c. Investment policy and performance**
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 assist in the delivery of our shared objectives and mission. These donations are made through the conference centre. The church also provides 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 objectives 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 2400 volunteer hours were provided during 2023/2024 reporting year cutting across 20 volunteers. If this is valued at £10.42 an hour, the volunteer effort amounts to about £25,104.00.
## **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
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## **NEW COVENANT CHURCH STRONG NATION TRUSTEES ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2024**
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.
Signed by order of the Trustees
29/01/25
6
## **NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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 2024.
## **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: 30/01/2025
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## **NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**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**|**Unrestri**
**cted**
**Funds**
**£**
**57,099 **
**57,099**
**57,099**
**-**
**57,099**|**Restricted**
**Funds**
**£**
**- **|**Total Funds**
**31st March 24**
**£**
**57,099**|**Total Funds**
**31st March 23**
**£**
44,418|
|||**- **|**57,099**|44,418|
|||**(31,803)**
|**(31,803)**
|(17,370)|
|||**(31,803)**
|**25,296**|27,048|
|||**(31,803) **
**(31,803)**|**25,296**
**25,296**|27,048|
|||||27,048|
8
**NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**INCOME**
**TOTAL EXPENDITURE**
**OPERATING SURPLUS**
**SURPLUS FOR THE PERIOD**|**31st March 24**
**31st March 23**
**£**
**£**
**57,099**
**44,418**
**(31,803)**
**(17,370)**|
|---|---|
||**25,296**
**27,048**|
|||
||**25,296**
**27,048**|
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## **NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
**----- Start of picture text -----**
BALANCE SHEET
As At March 31 March 2024
31-Mar-24 31-Mar-23
Note £ £
FIXED ASSETS
Tangible assets 7 407 1,327
CURRENT ASSETS
Cash at bank 12 224,184
Debtor 8 - 224,184 197,967
CURRENT LIABILITY
Creditor - 1,386 -
1,386
NET CURRENT ASSETS 222,798 196,582
─────────
TOTAL ASSETS LESS CURRENT LIABILITIES 223,205 197,909
════════ ═════════
FUNDS
Unrestricted income funds 223,205 197,909
TOTAL FUNDS 223,205
197,909
**----- End of picture text -----**
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## **NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**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 2024
Cash Balance as at 31 March 2023|Mar-24
£|
|---|---|
||29,346|
||18000|
||31,386|
||-
-|
||47,346|
||224,183
197,967|
**The notes on pages 12 to 15 form part of these financial statements**
## **ACCOUNTING POLICIES**
## **Basis of accounting**
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**NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
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 2024**
**£**
**£**
**57,099**
**57,099**
**-**
**-**|
|---|---|
||
**57,099**
**57,099**|
## **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**
**2024**
**£**
**£**
**31,803**
**31,803**|
|---|---|
||
**31,803**
**31,803**|
## **4 COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE**
|**Support**|**costs**
**2024**|**Total**
**Funds**
**2024**|
|---|---|---|
||**£**|**£**|
12
## **NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
> [Charitable activity type 1 (amend desc's for a/cs 330A, 330B and 330C ] to alter col. headings)
**31,803**
**31,803**
## **5 GOVERNANCE COSTS**
Accountancy fees Other financial cost/bank charges
||**Total**|
|---|---|
|**Restricted Funds**|**Funds**|
||**2024**|
|**£**|**£**|
|**-**|**-**|
|**-**|**-**|
|**-**|**-**|
**6 STAFF COSTS AND EMOLUMENTS** Total staff costs were as follows:
|Wages and salaries
Social security costs|**Period from**
**Period from**
31 March 2024
31
March
2023
**£**
£
**-**
**-**
**-**
**-**|
|---|---|
||**-**
**-**|
13
## **NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
||**Particulars of employees:**||||
|---|---|---|---|---|
||The average number of employees during the period, calculated on the|||**March**|
||basis of full-time equivalents, was as follows:|**March 2024**||**2023**|
||||**Nil**|**Nil**|
||No employee received remuneration of more than £60,000 during the||||
||period (2024 - Nil).||||
|**7**|**TANGIBLE FIXED ASSETS**||||
|||**Plant and machinery**|||
|||||**£**|
|||||**COST**|
|**Opening Balance**||||**11,490**|
|Additions||||**-**|
|Disposal||||-|
|**At**|**30 March 2024**|||**11,490**|
|**DEPRECIATION**|||||
|**Opening Balance**||||**10,164**|
|**Depreciation Charged**||||**920**|
|**At**|**30 March 2024**|||**11,083**|
|**NET BOOK VALUE**||||**407**|
|**At**|**30 March 2023**|||**1,327**|
|**8**|**Debtor**|**31 March**
**2024**|**31**|**March**
**2023**|
|||**£**||**£**|
||Loan|**-**||**-**|
|||**-**||**-**|
14
## **NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **9[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**
**2024**
**31 March**
**2023**
**£**
**£**
**25,296**
**27,048**
**920**
**2,298**|
|---|---|
||
**26,216**
**29,346**
|
|**10**|**RECONCILIATION OF NET CASH FLOW MOVEMENT TO MOVEMENT IN**
**NET DEBT**|||
|---|---|---|---|
|||**31 March**|**31 March**|
|||**2024**|**2023**|
|||**£**|**£**|
||Increase in cash in the period|**26,216**|**29,346**|
|||`─────────`|`─────────`|
||Change in net funds|**26,216**|**29,346**|
## **11 ANALYSIS OF CHANGES IN NET FUNDS**
||**31 March 2024**|**30 March 2023**|
|---|---|---|
||**£**|**£**|
|Cash at bank|**224,184**|**197,967**|
||════════|═════════|
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## **NEW COVENANT CHURCH STRONGNATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
**The following pages do not form part of the statutory financial statements**
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