New Life Bible Church
Report and Accounts Period ended 31 January 2021
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
NEW LIFE BIBLE CHURCH
CHARITY INFORMATION
FOR THE PERIOD ENDED 31 JANUARY 2021
Trustees Rev Eric Johnston (Chairman) Clive Chalkley Sybil Coppin-Babajide Jason Holmes Noel Hylton Jared Johnston Raymond Lawson Key Staff Rev E L Johnston and Mrs M Johnston Governing Document CIO Constitution dated 18 March 2019 Charity Registration Number 1182503 Principal Address C/o 83 Lady Aylesford Avenue Stanmore Middlesex HA7 4FG Independent Examiner Archie McDowall BA, CA Stewardship 1 Lamb's Passage London EC1Y 8AB Bankers Barclays Bank plc
| Contents | Page |
|---|---|
| Charity Information | 1 |
| Trustees' Annual Report | 2-4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8-15 |
| Detailed Statement of Financial Activities with Comparatives | 16 |
Page 1
NEW LIFE BIBLE CHURCH
TRUSTEES' ANNUAL REPORT
FOR THE PERIOD ENDED 31 JANUARY 2020
The trustees have pleasure in submitting the Report and Accounts for the period ended 31 January 2021.
Objects of the charity
The charity is a charitable incorporated organisation and is governed by its Constitution. The objects of the charity, as set out in the governing document are:
a) To advance the Christian faith by promoting spiritual renewal among individuals and churches through appropriate training or opportunities to meaningfully engage in the service of the Gospel, including rallying together for public events of prayer and worship of city-wide festivals to enlighten others about Jesus Christ, in accordance with the statements of belief and doctrine appearing in the Schedule, for the benefit of public, in England, Wales or abroad.
b) To prevent or relieve poverty anywhere in the world by providing grants, items, and services to individuals in need and/or charities or organisations assisting with the provision of education, training, healthcare projects, and all the necessary support designed to enable individuals to generate a sustainable income and to be self-sufficient.
New Life Bible is a local church working in harmony with other churches in the surrounding areas, known as, “Churches Together in The Weald” (CTW).
We describe ourselves as lively and charismatic, with a vision to bring revival and transformation to the nation and society on a whole.
The church is not a building, but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by Jesus Christ, the Son of God. The New Testament reveals the church as a community of people, properly taught and cared for, who by loving and serving Jesus Christ, were also committed to love and care for each other and to bring a blessing to the area in which they lived.
New Life Bible Church; its trustees, elders and members are committed to the restoration of those New Testament principles. It is not alone in this, it is one of many churches in the area, country and all over the world that is re-discovering the excitement of knowing Jesus Christ. The vision is to see the people of Wealdstone and Harrow Weald come into this experience of knowing Jesus as their Lord, Saviour and friend.
The church consists of a wide range of individuals, of all ages and backgrounds (from over 45 nationalities) working in harmony with other churches in the area to foster communication and interaction between the different denominations.
We aim:
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To proclaim the Gospel of Jesus Christ to all nations;
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To fund and establish Churches across the world, including the support of Missions in assisting
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them in their spiritual growth and aiding with the provision of new buildings to further the Gospel of Jesus Christ in their areas;
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To provide for the poor; education for the uneducated and needy; to assist the disadvantaged;
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to assist the refugee;
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To provide, prepare, support and build up the youth for adult life;
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To support single parents;
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To help the General Public/mankind;
Page 2
NEW LIFE BIBLE CHURCH
TRUSTEES' ANNUAL REPORT
FOR THE PERIOD ENDED 31 JANUARY 2020
Whilst the church does employ a small number of staff, it is the work of every member of the church, whether employed or not, that will make the difference in the church achieving its aims. This is done in ‘being salt and light’ amongst the people we interact with every day; by praying, visiting and healing the sick and others in need, in being involved in training others, in public teaching and worship, and in administration. The financial resources of the church, to a very large extent, are given by the members and our private assets and equipment are regularly used in the work of the church. Much of this work is done privately, without recognition, and the hours and value of that time cannot be quantified.
New Life Bible Church is also a member of The Evangelical Alliance
Summary of the charity's main activities and achievements
In planning the activities, the Trustees have applied the guidance on public benefit issued by the Charity Commission, and thus the church continues to:
➢ Provide Sunday worship services and Wednesday night Bible classes where the Gospel of Christ is shared, and individuals are encouraged to be active in their faith;
➢ Run a youth club on Friday nights which provides a place of safety and security with a clear vision to reach the community and impact the lives of the local youth who congregate in the Wealdstone area;
- ➢ Run a ministry for single parents, called Fresh Start;
➢ Provide weekly opportunity for individuals to get involved in evangelism and prayer through interacting with the community;
➢ Provide a social arm in the form of a Netball Club for mothers and daughters, which strengthens families and community life.
This was a difficult and challenging year for the charity due to the global pandemic. From March 2020, we were unable to meet in person as a congregation and had to use technology in order to still function as a body of believers.
We found that there were many financial needs during this season of lockdown and restrictions, and the charity reached out to many in terms of local needs, community needs and needs abroad.
With regard to the current COVID-19 pandemic the Globe has been experiencing, as a Charity we have continued to function to the best of our ability, despite the various restrictions of not being able to physically meet up at a building.
At the moment, we currently do not have our own building and are temporarily occupying a building in the Wealdstone area.
However, financially we have still been able to function and believe it will not be long until we occupy the new property that we are currently pursuing.
Financial review
During the period income increased by £6,446, to £340,984, and expenditure reduced by £8,065, to £324,542. As a result surplus for the period increased by £14,511, to £16,442 and the charity's net assets increased by the same amount, to £135,226.
Page 3
NEW LIFE BIBLE CHURCH
TRUSTEES' ANNUAL REPORT
FOR THE PERIOD ENDED 31 JANUARY 2020
Reserves policy
The Trustee’s policy on reserves at the end of the period is to have at least a yearly average of one month’s income in the accounts.
Going forward, to maintain a surplus for future years, we will adopt a workable procedure to ensure that our reserves are more than a month’s income and that we do not have a deficit balance at the end of the year.
Responsibilities of trustees under charity law
The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether the applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
- prepare the financial statements on a 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. 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.
Approval
This report was approved by the trustees and signed on their behalf by:
Jared Johnston
Date: 30 November 2021
Page 4
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
NEW LIFE BIBLE CHURCH ('the Charity')
I report to the charity trustees on my examination of the accounts of the Charity for the period ended 31 January 2021 on pages 6 to 16 following, which have been prepared on the basis of the accounting policies set out on pages 9 to 10.
Responsibilities and basis of report
As the charity’s 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 Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Archie McDowall BA, CA Institute of Chartered Accountants of Scotland
Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: 30 November 2021
Page 5
NEW LIFE BIBLE CHURCH
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD ENDED 31 JANUARY 2021
| Note INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities 4 Investments 5 Total income and endowments EXPENDITURE ON: Charitable activities 6 Total expenditure Net income/(expenditure) Transfers between funds 13 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 13 |
Unrestricted Combined Funds £ 298,897 37 156 299,091 262,857 262,857 36,234 (20,101) 16,133 82,992 99,125 |
Restricted Combined Funds £ 41,893 - - 41,893 61,685 61,685 (19,792) 20,101 309 35,792 36,101 |
Total Funds Combined 2021 £ 340,790 37 156 340,984 324,542 324,542 16,442 - 16,442 118,784 135,226 |
Total Funds Trust 2020 £ 328,238 4,353 1,947 |
|---|---|---|---|---|
| 334,538 | ||||
| 332,607 | ||||
| 332,607 | ||||
| 1,931 - |
||||
| 1,931 116,853 |
||||
| 118,784 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The notes on pages 8 to 15 form part of these accounts.
Page 6
NEW LIFE BIBLE CHURCH
BALANCE SHEET
FOR THE PERIOD ENDED 31 JANUARY 2021
| Note FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors 9 Cash at bank and in hand 10 CREDITORS: Amounts falling due within one year 11 Net current assets / (liabilities) Net assets / (liabilities) TOTAL NET ASSETS FUND BALANCES 13 Unrestricted Funds General funds Designated funds Restricted Funds |
General Designated Funds Funds £ £ 11,388 - 11,388 - 2,368 - 11,054 81,123 13,423 81,123 6,809 - 6,614 81,123 18,002 81,123 18,002 81,123 18,002 - - 81,123 18,002 81,123 - - 18,002 81,123 Unrestricted Funds |
Restricted Funds £ 0 0 - 36,100 36,100 - 36,100 36,100 36,100 - - - 36,100 36,100 |
Total Funds 2021 £ 11,388 11,388 2,368 128,277 130,645 6,809 123,836 135,225 135,225 18,002 81,123 99,124 36,100 135,225 |
General Designated Funds Funds £ £ 25,615 - 25,615 - 5,178 - 17,877 40,358 23,055 40,358 6,035 - 17,020 40,358 42,635 40,358 42,635 40,358 42,635 - - 40,358 42,635 40,358 - - 42,635 40,358 Unrestricted Funds |
Restricted Funds £ 552 552 - 35,240 35,240 - 35,240 35,792 35,792 - - - 35,792 35,792 |
Total Funds 2020 £ 26,167 26,167 5,178 93,475 98,652 6,035 92,617 118,784 118,784 42,635 40,358 82,992 35,792 118,784 |
|||
|---|---|---|---|---|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
Jared Johnston
DATE: 30 November 2021
Charity number: 1182503
The notes on pages 8 to 15 form part of these accounts.
Page 7
NEW LIFE BIBLE CHURCH
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2021
1 Statutory Information
The charity is trust registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.
2 Accounting Policies
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.
The principles adopted in the preparation of the financial statements are set out below.
a) Going concern
The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. In making this assessment the trustees have considered the impact of Covid-19 and have concluded that its impact on net income will not be material.
b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes:
i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
ii) The charity relies on volunteers to carry out many of its activities, however, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects.
Investment income represents income generated by the charity's assets and includes income from letting the charity's property and bank interest.
Page 8
NEW LIFE BIBLE CHURCH
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2021
c) Expenditure
- Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The cost of raising funds is not significant and has not been separately disclosed.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
d) 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. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.
e) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
Equipment Over 3 to 7 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
f) Leased assets
Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term (unless another systematic basis is more representative of use).
g) Pension scheme arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
h) Taxation
The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
i) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
j) Critical accounting estimates and areas of judgement
ln preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts recognised in the financial statements. The trustees consider the following to be significant:
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i) The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current circumstances.
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ii) The constructive obligation for grants payable is based on an assessment of the likely duration of the supported activity. Again this estimate is re-assessed annually and the obligation is adjusted to reflect current expectations.
Page 9
NEW LIFE BIBLE CHURCH
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2021
| 3 Donations and legacies Donations of cash and similar Other grants receivable Income tax recoverable 4 Income from charitable activities Fresh Start retreat Startwrite 5 Investment income Property letting 6 Charitable expenditure a Costs incurred directly on specific activities Employment costs Property costs: Rent Utilities Other building costs Church activities Work with children and youth Fresh start ministries Mission activities Telephones Finance and bank charges Grants payable Note 6c b Costs incurred on support & administration Governance costs Office and support costs Depreciation of tangible fixed assets Total expenditure |
Unrestricted Funds £ 179,509 83,179 36,209 298,897 Unrestricted Funds £ 37 37 Unrestricted Funds £ 156 156 Unrestricted Funds £ 172,810 16,875 1,892 686 20,396 737 - 279 2,415 17 23,111 239,218 2,611 6,802 14,227 23,640 262,857 |
Restricted Funds £ 35,021 6,873 - 41,893 Restricted Funds £ - - - Restricted Funds £ - - Restricted Funds £ - - - - - - 3,153 (2,597) - - 60,578 61,134 - - 551 551 61,685 |
Total 2021 £ 214,529 90,052 36,209 340,790 Total 2021 £ - 37 37 Total 2021 £ 156 156 Total 2021 £ 172,810 16,875 1,892 686 20,396 737 3,153 (2,318) 2,415 17 83,689 300,352 2,611 6,802 14,778 24,191 324,542 |
Total 2020 £ 189,760 102,419 36,059 |
|---|---|---|---|---|
| 328,238 | ||||
| Total 2020 £ 4,031 322 |
||||
| 4,353 | ||||
| Total 2020 £ 1,947 |
||||
| 1,947 | ||||
| Total 2020 £ 166,967 30,000 3,726 1,753 22,269 3,114 13,918 17,682 3,299 1,183 40,251 |
||||
| 304,162 | ||||
| 3,293 7,185 17,966 |
||||
| 28,445 | ||||
| 332,607 |
The fee payable to the independent examiner for preparing and examining the accounts was £3,000 (2020: £2,400); the charity paid no other fees to Stewardship for any other services.
| c Grants payable Grants for local support Grants for mission support |
Institutions £ - 65,682 65,682 |
Individuals £ 18,007 - 18,007 |
2021 £ 18,007 65,682 |
|---|---|---|---|
| 83,689 |
Page 10
NEW LIFE BIBLE CHURCH
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2021
| The comparatives for the previous year are as follows: Institutions Individuals £ £ Grants for local support 402 2,789 Grants for mission support 37,060 - 37,462 2,789 The charity's principal grants to institutions comprised: 2021 £ SIM International [Kenya] 18,205 Amazing Grace Ministries [South Africa] 1,957 River of Life Ministry Church [Uganda] 41,666 DJE International [USA] 3,854 65,682 7 2021 £ Gross wages and salaries 151,081 Social security 13,329 Pension costs 3,627 168,037 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses |
2020 £ 3,190 37,060 |
|---|---|
| 40,251 | |
| 2020 £ 15,600 - 17,544 3,917 |
|
| 37,060 | |
| 2020 £ 151,081 13,329 2,557 |
|
| 166,967 |
The average monthly number of employees during the year was 6 (2020: 6). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees and the key staff named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:
| Other Employer Wages & employment pension salaries benefits contributions Trustees: Eric Johnston (CIO trustee) 51,630 - - Key management connected to trustees: Merilee Johnston (wife of Eric Johnston) 17,821 - - The following amounts were payable in the previous year: Other Employer Wages & employment pension salaries benefits contributions Trustees: Eric Johnston (CIO trustee w.e.f. date of transfer) 37,428 - - Key management connected to trustees: Merilee Johnston (wife of Eric Johnston) 12,923 - - Members of key management 16,785 - - |
2021 £ 51,630 17,821 |
|---|---|
| 69,451 | |
| 2020 £ 37,428 12,923 16,785 |
|
| 67,136 |
Eric Johnston and Merilee Johnston served as church leaders and received the above payments for serving in that capacity, not for serving as trustees; as advised to the Charity Commission on formation of the charity. No other trustees received employment benefits in the current year.
Page 11
NEW LIFE BIBLE CHURCH
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2021
| 8 Tangible fixed assets Cost At 31 January 2020 At 31 January 2021 Accumulated depreciation At 31 January 2020 Charge for the year At 31 January 2021 Net book value At 31 January 2021 At 31 January 2020 9 Debtors Falling due within one year: Tax recoverable Rental deposit held Total debtors 10 Cash at Bank and in Hand Bank operating accounts 11 Creditors: liabilities falling due within one year Accruals |
Fittings and equipment £ 82,781 82,781 56,615 14,778 71,393 11,388 26,166 |
2021 £ 2,368 - 2,368 2021 £ 128,277 128,277 2021 £ 6,809 6,809 |
Total 2021 £ 82,781 |
|---|---|---|---|
| 82,781 | |||
| 56,615 14,778 |
|||
| 71,393 | |||
| 11,388 | |||
| 26,166 | |||
| 2020 £ 3,678 1,500 |
|||
| 5,178 | |||
| 2020 £ 93,475 |
|||
| 93,475 | |||
| 2020 £ 6,035 |
|||
| 6,035 |
Page 12
NEW LIFE BIBLE CHURCH
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2021
12 Pension commitments
During the year employer’s pension contributions totalling £5,210 (2020: £2,557) were payable to defined contribution personal pension schemes.
13 Funds
During the year the movements in the charity's funds were as follows:
| Designated Funds Mission Fund Kenya/Ghana Audio Visual Mission Strategy Sundry projects General Unrestricted Funds Total Unrestricted Funds Restricted Funds Mission funds (Uganda) Mission funds (other) Building fund Building upgrade Fresh Start Needy saints fund Crown of Blessing fund Visiting or other ministry Aggregate of funds |
Opening balance 2021 £ 4,810 2,794 16,794 15,960 40,358 42,634 82,992 - 886 32,975 552 970 - - 409 35,792 118,783 |
Incoming resources 2021 £ - - - - 299,091 299,091 24,096 50 - - 1,910 8,275 7,388 175 41,893 340,984 |
Outgoing resources 2021 £ - - - - (262,857) (262,857) (36,329) 811 - (551) (3,153) (15,467) (6,995) - (61,686) (324,543) |
Transfers in the year 2021 £ 3,604 (917) 22,619 15,459 40,765 (60,866) (20,101) 12,233 (1,476) 527 - 1,624 7,193 - - 20,101 - |
Gains and losses 2021 £ - - - - - - - - - - - - - - - - |
Closing balance 2021 £ 8,414 1,877 39,413 31,419 |
|---|---|---|---|---|---|---|
| 81,123 18,002 |
||||||
| 99,124 | ||||||
| (0) 271 33,502 0 1,351 0 393 584 |
||||||
| 36,100 | ||||||
| 135,224 |
Page 13
NEW LIFE BIBLE CHURCH
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2021
In the previous year the movements in the charity's funds were as follows:
| Designated Funds Mission Fund Kenya/Ghana Audio Visual Mission Strategy Sundry projects General Unrestricted Funds Total Unrestricted Funds Restricted Funds Mission funds (Uganda) Mission funds (other) Building fund Building upgrade Fresh Start Needy saints fund Visiting or other ministry Aggregate of funds |
Opening balance 2020 £ 1,205 583 12,204 - 13,992 65,285 79,277 - 750 32,899 1,103 2,824 - 37,576 116,853 |
Incoming resources 2020 £ - - - - 316,330 316,330 8,959 10 - 8,428 402 409 18,208 334,538 |
Outgoing resources 2020 £ - - - - (297,405) (297,405) (17,544) - (551) (13,918) (3,190) - (35,203) (332,608) |
Transfers in the year 2020 £ 3,605 2,211 4,590 15,960 26,366 (41,576) (15,210) 8,584 136 66 3,635 2,789 - 15,210 - |
Gains and losses 2020 £ - - - - - - - - - - - - - - - |
Closing balance 2020 £ 4,810 2,794 16,794 15,960 |
|---|---|---|---|---|---|---|
| 40,358 42,634 |
||||||
| 82,992 | ||||||
| (0) 886 32,975 552 970 0 409 |
||||||
| 35,792 | ||||||
| 118,783 |
Designated funds
The Mission Fund Kenya/Ghana relates to funds set aside for the purpose of blessing a supported missionary. The Audio Visual relates to funds set aside for the purchase of new equipment.
The purpose of the setting funds aside for the Mission Strategy fund is to use these funds to facilitate any mission trips where we sow into their countries by bringing appropriate ministers to strengthen their ministries. Also to support these ministries with resources and assistance for them.
The Sundry projects fund is available to spendon variou schurch projects at the discretion of the church leaders.
Restricted funds
The Mission funds (Uganda) relates to funds donated for the purpose of assisting River of Life Ministries church who we have supported for a number of years in helping them to build a church building in a township area which, when finished, will be a hub and place for community activities.
The Mission funds (other) is for donations provided for other supported missions.
The Building upgrade relates to a capitalised asset, part of which was restricted.
The Fresh Start fund relates to funds donated for the purpose of supporting the Fresh Start ministry which aims to support those parenting alone.
The Crown of Blessing fund is for members to support specific projects already funded by the church. The visiting or other ministry fund relates to funds donated to bless visiting or other speakers.
14 Operating lease commitments
The charity had an operating lease for its church building until it vacated its premises in September 2020. The minimum amount payable (until the next break clause and ignoring the potential effect of future rent reviews) in respect of this lease is as follows:
| Within one year Payments falling due: |
2021 £ - - |
2020 £ 15,000 |
|---|---|---|
| 15,000 |
During the year the charity was charged £16,875 (2020: £30,000) for its operating lease.
Page 14
NEW LIFE BIBLE CHURCH
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2021
15 Transactions with related parties
-
During the year the charity:
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a) received donations totalling £116,851 (2020: £48,617) funded by related parties (which includes trustees, anyone closely connected to them and key management).
In addition to the payments disclosed in note 7, during the year the charity also made the following payments to, or for, related parties:
-
a) Wawira Johnston, who is closely related to Jared Johnston and Eric Johnston, who are trustees of the new CIO, received employment benefits totalling £21,051 (2020: £14,696) for providing services to the church.
-
b) Caroline Chalkley, who is closely related to Clive Chalkley (a trustee of the new CIO), received employment benefits totalling £19,979 (2020: £14,675) for services to the church.
Except as disclosed in note 7 'Analysis of staff costs', there have been no other transactions with related parties during the year.
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NEW LIFE BIBLE CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES
FOR THE PERIOD ENDED 31 JANUARY 2021
| Note INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities 4 Investments 5 Total income and endowments EXPENDITURE ON: Charitable activities: 6 Total Expenditure Net income/(expenditure) Transfers between funds 13 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 13 |
2021 £ 298,897 37 156 299,091 262,857 262,857 36,234 (60,866) (24,632) 42,634 18,002 Unrestricted F |
2020 £ 314,061 322 1,947 316,330 297,405 297,405 18,925 (41,576) (22,651) 65,285 42,634 unds - General |
combined 2021 £ - - - - - - - 40,765 40,765 40,358 81,123 Unrestricted Fun |
trust 2020 £ - - - - - - - 26,366 26,366 13,992 40,358 ds - Designated |
combined 2021 £ 41,893 - - 41,893 61,685 61,685 (19,792) 20,101 309 35,792 36,101 Restricte |
trust 2020 £ 14,177 4,031 - 18,208 35,203 35,203 (16,994) 15,210 (1,784) 37,576 35,792 d Funds |
Total Funds combined 2021 £ 340,790 37 156 340,984 324,542 324,542 16,442 - 16,442 118,784 135,226 |
Total Funds trust 2020 £ 328,238 4,353 1,947 |
|---|---|---|---|---|---|---|---|---|
| 334,538 | ||||||||
| 332,607 | ||||||||
| 332,607 | ||||||||
| 1,931 - |
||||||||
| 1,931 116,853 |
||||||||
| 118,784 |
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