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2024-01-31-accounts

New Life Bible Church

Report and Accounts Period ended 31 January 2024

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

NEW LIFE BIBLE CHURCH

CHARITY INFORMATION

FOR THE PERIOD ENDED 31 JANUARY 2024

Trustees Rev Eric Johnston (Chairman)
Clive Chalkley
Sybil Coppin-Babajide
Jason Holmes
Jared Johnston
Raymond Lawson
Tochukwu Kanu
Key Staff Rev E L Johnston and Mrs M Johnston
Governing Document CIO Constitution dated 18 March 2019
as amended on 19 April 2022
Charity Registration Number
Principal Address C/o 12 Flowers Avenue
Ruislip
Middlesex
HA4 8GH
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 2-6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10-17
Detailed Statement of Financial Activities with Comparatives 18

Page 1

‘‘

Trustees' Annual Report for the period

Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod
From Period start date To Period end date
Day
01		 Month
02		 Year
2023		 Day
31		 Month
01		 Year
2024

Section A Reference and administration details

Charity name New Life Bible Church Other names charity is known by NLBC Registered charity number (if any) 1182503 C/o 12 Flowers Avenue Ruislip Middlesex Postcode HA4 8GH

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10		 Trustee name Office (if any) Dates acted if not for
whole year		 Name of person (or body)
entitled to appoint
trustee(if any)
Mr Eric Johnston Chairman/Trustee
Mr Clive Chalkley Trustee
Mrs Sybil Coppin-Babajide Trustee
Mr Jason Holmes Trustee
Mr Jared Johnston Trustee
Mr Tochukwu Kanu Trustee
Mr Raymond Lawson Trustee

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

August 2024

TAR

2

Names and addresses of advisers (Optional information)

Type of adviser Name Address Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

CIO Foundation Constitution Type of governing document (eg. trust deed, constitution) CIO How the charity is constituted (eg. trust, association, company) Elected by agreement of all Trustees Trustee selection methods

(eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where Trustees attending an online webinar by Charity Commission giving an relevant, about: overview of the Trustees’ legal duties in a faith and charity context • policies and procedures (February 2023). adopted for the induction and training of trustees;

Section C Objectives and activities

August 2024

TAR

3

Summary of the objectives of the charity set out in its governing document

(1) 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.

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

In planning the activities, the Trustees have applied the guidance on public benefit issued by the Charity Commission and thus the church continues to;

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

August 2024

TAR

4

Section D Achievements and performance

Summary of the main achievements of the charity We continue having services at the temporary location at Holy Trinity during the year Wealdstone, as well as facilitating monthly meetings via zoom. We have had various events within our community network of churches, such as Churches Together, Good Friday Walk of Witness march (April 2023) and a Macmillan Coffee Morning (Sep 2023). Our Single Parents Pastor (SPP), who heads up Fresh Start, our Single Parents’ Ministry, continued to facilitate prayer for the community on Tuesday mornings and Bible studies on Thursday evenings. The SPP organised a mini retreat in Hemel Hempstead, Herts, for single parents and their children (April 2023). Fresh Start also partnered with Family Holiday Trust to enable some single parents and their families to enjoy a holiday break. Our SPP has also advocated for single parents in the church/community in terms of their housing and supporting them with the appropriate advice and benefits that they are entitled to. Our youth group had meetings (bi-weekly) on Sundays where the Word of God and Christian values was deposited into their lives. They also had a variety of social events, periodically throughout the year. Our men & women’s ministries were also active in hosting various meetings, as well as social events. Churches Together Fellowship Day (May 2023) fostering a day of the various church interacting with each other and networking across the departments. We had a Safeguarding Training Day (September 2023) for the entire church, which was interactive and well attended. As well as the Trustees attending an online webinar by Charity Commission giving an overview of the Trustees’ legal duties in a faith and charity context (February 2023). Our last event for the year end was our annual corporate prayer and fasting week (January 2024).

Section E Financial review

Brief statement of the
charity’s policy on reserves
Details of any funds materially
in deficit		 The Trustee’s policy on reserves at the end of the year 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.

August 2024

TAR

5

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees

Signature(s) Jason Holmes Full name(s) Jason Holmes Position (e.g. Secretary, Chair, Trustee etc)

JJ Jared Johnston Jared Johnston Trustee 24/11/24

Date 05/08/24

August 2024

TAR

6

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 2023 on pages 8 to 18 following, which have been prepared on the basis of the accounting policies set out on pages 10 to 11.

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 ICAS, 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

Archie McDowall BA, CA Institute of Chartered Accountants of Scotland

Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: 26 November 2024

Page 7

NEW LIFE BIBLE CHURCH

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE PERIOD ENDED 31 JANUARY 2024

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
£
342,278
-
763
343,041
300,682
300,682
42,359
(16,830)
25,528
86,010
111,538		 Restricted
Combined
Funds
£
51,020
1,120
99
52,239
31,922
31,922
20,317
16,830
37,148
45,385
82,533		 Total
Funds
Combined
2024
£
393,298
1,120
862
395,280
332,604
332,604
62,676
-
62,676
131,395
194,071		 Total
Funds
Trust
2023
£
363,270
-
138
363,408
374,255
374,255
(10,847)
-
(10,847)
142,241
131,394

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 10 to 17 form part of these accounts.

Page 8

NEW LIFE BIBLE CHURCH

BALANCE SHEET

AS AT 31 JANUARY 2024

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
£
£
-
-
-
-
3,591
-
42,484
73,854
46,075
73,854
8,390
-
37,685
73,854
37,685
73,854
37,685
73,854
37,685
-
-
73,854
37,685
73,854
-
-
37,685
73,854
Unrestricted Funds		 Restricted
Funds
£
-
-
-
82,533
82,533
-
82,533
82,533
82,533
-
-
-
82,533
82,533		 Total
Funds
2024
£
-
-
3,591
198,871
202,462
8,390
194,071
194,071
194,071
37,685
73,854
111,539
82,533
194,071		 General
Designated
Funds
Funds
£
£
648
-
648
-
3,116
-
35,257
57,519
38,373
57,519
10,530
-
27,843
57,519
28,491
57,519
28,491
57,519
28,491
-
-
57,519
28,491
57,519
-
-
28,491
57,519
Unrestricted Funds		 Restricted
Funds
£
-
-
-
45,386
45,386
-
45,386
45,386
45,386
-
-
-
45,386
45,386		 Total
Funds
2023
£
648
648
3,116
138,161
141,277
10,530
130,747
131,395
131,395
28,491
57,519
86,010
45,386
131,395

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

Jared Johnston

DATE 24 November 2024

_________Jared Johnston

Charity number: 1182503

The notes on pages 10 to 17 form part of these accounts.

Page 9

NEW LIFE BIBLE CHURCH

NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 JANUARY 2024

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.

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 10

NEW LIFE BIBLE CHURCH

NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 JANUARY 2024

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:

Page 11

NEW LIFE BIBLE CHURCH

NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 JANUARY 2024

3
Donations and legacies
Donations of cash and similar
Donations in kind
Other grants receivable
Legacies receivable
Income tax recoverable
4
Income from charitable activities
Fresh Start retreat
5
Investment income
Other income
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
£
173,816
128,898
39,564
342,278
Unrestricted
Funds
£
-
-
Unrestricted
Funds
£
763
763
Unrestricted
Funds
£
230,434
10,847
-
134
24,467
2,624
-
-
1,866
-
20,630
291,002
4,744
4,287
648
9,680
300,682		 Restricted
Funds
£
44,495
6,525
-
51,020
Restricted
Funds
£
1,120
1,120
Restricted
Funds
£
98
98
Restricted
Funds
£
-
-
-
-
-
-
10,363
3,008
-
-
18,551
31,922
-
-
-
-
31,922		 Total
2024
£
218,311
-
135,423
-
39,564
393,298
Total
2024
£
1,120
1,120
Total
2024
£
861
861
Total
2024
£
230,434
10,847
-
134
24,467
2,624
10,363
3,008
1,866
-
39,181
322,924
4,744
4,287
648
9,680
332,604		 Total
2023
£
208,365
-
106,954
-
47,951
363,270
Total
2023
£
-
-
Total
2023
£
138
138
Total
2023
£
210,254
12,518
-
376
29,444
1,889
5,863
8,218
2,179
-
88,181
358,920
6,931
6,723
1,680
15,333
374,254

The fee payable to the independent examiner for preparing and examining the accounts was £3,000 (2023: £3,000); in addition the charity paid £200 (2023: £200) to Stewardship for consultancy fees. No other fees to Stewardship for any other services.

c
Grants payable
Grants for local support
Grants for mission support		 Institutions
£
3,000
20,595
23,595		 Individuals
£
1,989
13,547
15,536		 2024
£
4,589
34,542
39,131

Page 12

NEW LIFE BIBLE CHURCH

NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 JANUARY 2024

The comparatives for the previous year are as follows:
Institutions
Individuals
£
£
Grants for local support
-
8,095
Grants for mission support
21,448
58,653
21,448
66,748
The charity's principal grants to institutions comprised:
2024
£
16,815
3,780
SIM International [Ghana]
DJE International [USA]
Other Institutions, value <£1,000
-
20,595
7
2024
£
Gross wages and salaries
206,757
Social security
15,926
Pension costs
7,751
230,434
Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses		 2023
£
8,095
80,101
88,196
2023
£
16,800
3,780
868
21,448
2023
£
189,007
14,506
6,741
210,254

The average monthly number of employees during the year was 7 (2023: 7). 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)
62,057
-
-
Key management connected to trustees:
Merilee Johnston (wife of Eric Johnston)
21,224
-
-
The following amounts were payable in the previous year:
Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Eric Johnston (CIO trustee)
57,068
-
-
Key management connected to trustees:
Merilee Johnston (wife of Eric Johnston)
19,349
-
-		 2024
£
62,057
21,224
83,281
2023
£
57,068
19,349
76,417

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 13

NEW LIFE BIBLE CHURCH

NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 JANUARY 2024

8 Tangible fixed assets

8
Tangible fixed assets
Cost
At 31 January 2023
At 31 January 2024
Accumulated depreciation
At 31 January 2023
Charge for the year
At 31 January 2024
Net book value
At 31 January 2024
At 31 January 2023
9
Debtors
Falling due within one year:
Tax recoverable
Total debtors
10
Cash at Bank and in Hand
Bank operating accounts
11
Creditors: liabilities falling due within one year
Deposits received
Accruals		 Fittings and
equipment
£
82,781
82,781
82,133
648
82,781
-
648		 2024
£
3,591
3,591
2024
£
198,871
198,871
2024
£
-
8,390
8,390		 Total
2024
£
82,781
82,781
82,133
648
82,781
-
648
2023
£
3,116
3,116
2023
£
138,161
138,161
2023
£
478
10,053
10,530

Page 14

NEW LIFE BIBLE CHURCH

NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 JANUARY 2024

12 Pension commitments

During the year employer’s pension contributions totalling £6,741 (2023: £6,741) 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
Building fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Mission funds (Uganda)
Mission funds (other)
Building fund
Fresh Start
Needy saints fund
Crown of Blessing fund
Covid relief fund
Visiting or other ministry
Ukraine war relief
Mission funds (Ghana)
the Maragret de Souza Fund
Aggregate of funds		 Opening
balance
2024
£
6,121
4,620
14,919
31,859
-
57,519
28,491
86,010
-
2,132
34,201
8,442
-
5
21
584
-
-
-
45,386
131,395		 Incoming
resources
2024
£
-
-
-
-
-
-
343,041
343,041
2,862
-
38,721
10,026
215
-
-
-
-
15
400
52,239
395,280		 Outgoing
resources
2024
£
-
-
-
-
-
-
(300,682)
(300,682)
(16,065)
-
-
(13,363)
(2,079)
-
-
-
-
(15)
(400)
(31,922)
(332,604)		 Transfers
in the year
2024
£
3,673
(1,479)
3,669
10,472
24,006
16,335
(33,166)
(16,830)
13,203
1,827
-
547
1,864
(5)
(21)
(584)
-
-
-
16,830
-		 Gains and
losses
2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2024
£
9,794
3,141
18,588
42,331
24,006
73,854
37,684
111,538
-
3,959
72,922
5,651
-
-
-
-
-
-
-
82,533
194,071

Page 15

NEW LIFE BIBLE CHURCH

NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 JANUARY 2024

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
Fresh Start
Needy saints fund
Crown of Blessing fund
Covid relief fund
Visiting or other ministry
Ukraine war relief
Aggregate of funds		 Opening
balance
2023
£
7,515
2,679
15,519
43,443
69,156
35,961
105,117
-
1,006
34,082
1,426
-
5
21
584
-
37,124
116,853		 Incoming
resources
2023
£
-
-
-
-
-
347,191
347,191
5,291
1,826
119
7,465
1,490
-
-
-
25
16,216
334,538		 Outgoing
resources
2023
£
-
-
-
-
-
(292,715)
(292,715) 0
(66,487)
(700)
-
(5,863)
(8,080)
-
-
-
(409)
(81,539)
(332,608)		 Transfers
in the year
2023
£
(1,394)
1,941
(600)
(11,584)
(11,637)
(61,947)
(73,584)
61,196
-
-
5,414
6,590
-
-
-
384
73,584
-		 Gains and
losses
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2023
£
6,121
4,620
14,919
31,859
57,519
28,491
86,009
-
2,132
34,201
8,442
-
5
21
584
-
45,386
131,395

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.

The Covid Relief fund relates to funds donated to the church for the relief of those suffering financial hardship resulting from the Covid-19 pandemic

Transfers

Transfers of £21 and £5 have been made out of the Covid relief and Corwn of Blessing funds to the Needy saints fund, which fulfills a similar purpose.

A transfer of £584 has been made from the Visiting or other ministry fund to the general fund. This is because the church has spent funds in accordance with the donors wishes in prior years without these being reflected in the accounts.

Page 16

NEW LIFE BIBLE CHURCH

NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 JANUARY 2024

14 Transactions with related parties During the year the charity:

In addition to the payments disclosed in note 7, during the year the charity also made the following payments to, or for, related parties:

Except as disclosed in note 7 'Analysis of staff costs', there have been no other transactions with related parties during the year.

Page 17

NEW LIFE BIBLE CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE PERIOD ENDED 31 JANUARY 2024

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		 2024
£
342,278
-
763
343,041
300,682
300,682
42,359
(33,166)
9,193
28,491
37,684
Unrestricted F		 2023
£
347,093
-
98
347,191
292,715
292,715
54,476
(61,947)
(7,470)
35,961
28,491
unds - General		 2024
£
-
-
-
-
-
-
-
16,335
16,335
57,519
73,854
Unrestricted Fun		 2023
£
-
-
-
-
-
-
-
(11,637)
(11,637)
69,156
57,519
ds - Designated		 2024
£
51,020
1,120
99
52,239
31,922
31,922
20,317
16,830
37,148
45,385
82,533
Restricte		 2023
£
16,177
-
39
16,216
81,539
81,539
(65,322)
73,584
8,261
37,124
45,385
d Funds		 Total
Funds
2024
£
393,298
1,120
862
395,280
332,605
332,605
62,675
-
62,675
131,394
194,069		 Total
Funds
2023
£
363,270
-
138
363,408
374,254
374,254
(10,847)
-
(10,847)
142,241
131,394

Page 18