## 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:
- To proclaim the Gospel of Jesus Christ to all nations;
- To fund and establish Churches across the world, including the support of Missions in assisting
- them in their spiritual growth and aiding with the provision of new buildings to further the Gospel of Jesus Christ in their areas;
- To provide for the poor; education for the uneducated and needy; to assist the disadvantaged;
- to assist the refugee;
- To provide, prepare, support and build up the youth for adult life;
- To support single parents;
- 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:
1. select suitable accounting policies and apply them consistently;
2. observe the methods and principles in the Charities SORP;
3. make judgements and estimates that are reasonable and prudent;
4. state whether the applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
5. 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:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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:
- 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.
- 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:
- 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.
Page 15
## **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|
Page 16