Regislered Charity. Number '. 1190262 NEW COVENANT CHIJRCH DIINSTABLE A CHARITABLE INCORPORATED ORGANISATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
NEW COVENANT CHURCH DUNSTABLE LEGAL AND ADMtNISTRATIVE INFORMATION li FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Peter Olusola Oni Modupe Temitope Afuye Michael Oluwadamilare Olatunji 1190262 Charity Number Regiytered Offiee 39 CHURCHILI. ROAD DUNSTABLE LU6 3LU Bankers Melro Bank Lloyds Bank Tobbytox Limited 20 Gilbert Road Belvedere DA17 5DA Independent Ex8miner
NEW COVE]YANf CHURCH DUNSTABLE coNrENrs FOR THE YEAR ENDED 31 DECEMBER 2024 Truglees, Report Independent Examtnevs Report Sialement of FinoJ]icai A¢tiiilies Baiance Sheet Notes to the Financia] Statements
NEW COVENANT CHURCH DUNSTABLE TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Irustees present their annual report and financial statements for the vear ended 31 December 2024 . The tnLStee5 prosfflt Iheir report M'iih the Lm&udiled financial slalements of the charil). for the period ended 31December2024. This report has been prq)ared in accordance ll'ith the prokisions appli¢able 10 chatity in accordance ivith the Charities SORP (FRS 102). STRucfuRE, GOVERNANCE AND MANAGEMENT Goi'emin8 Document The ¢hariti' is controlled by its governing document, a DeClarlon of Trust 1991 0r8anisatt.onal Structure The trustee holds meetings throughout the }'ear to promote the policies: Strategies and the implementation of the i'arious programs gnd projects geured toii'ards achiei'ing charitable objeth. i'es. These ar¢ subjected to ongoing revieivs lo assess outcomes. Risk Management The Trusl¢es are responsible for keeping proper a¢counling records Ihai disclose iiryth reasonable accurw. at w)y lime the financi41 position of the charity and enable ihem to ensure that the financiat slalements compl). iiiih the Companies Act 2006. The Trustees are also responsible for safeguarding the &8$ets of the charih. and hence tak'ing re&sonable steps for the prei'enlion and deleclion of fraud and other irregujarities. OBJECTIVES AND ACTIVITIES The Objeclii'es of the Church is set out in the Declarkn'on of Trusl.. The principal tiN'ltieS of the Charity are Christiart Worship and ini'olvement of various ministries and ministers of reliwon in propagalin8 the Christian Tenels of faith to members (and non-members) M'ho seek lo learn and dei'elop an understanding of the Gospel through the various meelings proyided b!. th¢ thurch, There is a150 an eilension of the Christian Faith through other direct communil). outreach programmes provided bv the church. Consttiuiion, ObjethiN'es. Aims and Or8anis&tion of our Work The Objeth'i'es of the Church are set out in the Declaratiort of Trust., l)Th¢ adi'anceMI of Christi8n Faith in the unli 'ngdoM and abroad
2) The relief of persons Ii'ho are in condition of n•J. hardship or distress or ivho a sick or aged in the United "ngdoM and abroad 3) The r¢liefof Poverty Clwiiable Aclii'ities The Board ofTrustees are pleased lo report as follows.. PUBLIC BENEFIT THE ADV ANCEMENT OF CHRISTIAN FAITH The Trustees of the Charity, having due regard for the reporting of public benefit provided bi, the Charity in line M'ith the ChaTities Act 201 l. Rre pleased to report that the ¢hurch commenced inioli'ement iiiih communit!, focused #i'onts and projects proi'idin8 direct benefil for the public in the UK and abroad. Place Of Worship The Nem. Covenant church ha8 continued its. commitment of adi'ancemenl of the Chrisiian Faiih in line w'ith ils charitable objeciives though the provision and maintenance of a]1 our places for Chrislian Worship in the Uniied Kingdom. The continued proi'ision and place of Christion Morship are importanl functions ofthe Charity s a¢iii"ilies ii,hich proi'ided members of the public Mith ongoing opportunity 10 8roM' develop in the Christian faith, iea¢hin8S and principles. Evangelism Evangelism is a core i'aiue and oulreach strat. of the church to reach oui io communities. Through th¢ thur¢h's aru Barbeque held during the summer. the church used the occasion io reach out lo memb9 of ihe ¢ommunili' and resident of th¢ area. The church made drink5, food ttnd other confectt'onery. 81'ailable 10 members of the church and th¢ public at large. Members of the community, alike indul8e in outdoor games, sporting compeiiiions such as ping pong elc, All of these ii'ere seared loii'ard5 team and comrnunity, building. The trustees hai'e had Tegard to the Chanty Commission s guidance on the publi¢ benefit in managin8 the acliwilies ol the charih.. Children Ministy The Sundas, sthool ministry focused on building self-oonfidence and raising high self.esteem in each child. This ivas achiei'ed Ihrough leaching, music and danc¢ sessions. The children ministi?. continue5 to cater for spiritual needs of the children ei'ery. Sunda!. through u8e- appropriate bible stories, sciipture teachings. The Sunda!. school helps children enhance their learning of the bible through mem0ri7ation of passases. REFLIEF OF PERSON FN NEED, HARDSHIP. DISTRESS. SICK OR AGED
The Chants. cohunwd io proi'ide i¢li¢f io lit are In of ne•l. Iwd5hip or th'siiess or aTe 51ck' or a%ed Cui Chw¢h tknsi•ble a Food Bank PIoJ¢d. iithjch th¥•thes fcod ioihe Inun1 wtas of nrtd in coffrnwts.. wel o•M thE SUtTwin8 of memt4rs o( ¢thnnMmiT¥. FINANCIAL HEVIEW The bty)k (lthe rd$ li the>"¢llr4rA1 n In theopmicm ofthe Ilowd ofTrw a% Sthied in the fin1 of the Y¢sults of the licc Dwuubie'i iiiitses dfil the Is pien m the ofFillxKid Acfii'1114>. Tcrf•l hrKoff ol the ¢h•nry •n¥N•i•8 10 £37,678 6312023 £576fA)l thl the li1 ot31J1 Dwmb JJ24 £158.IlJ8 lJ123' £1369711 IN'DF.PENDEKf EXAMINER A Pr ToE&'io¥ Linul be rePaFyTrni os w) ind¢Fatsbi Ex•wners of the th4nt)' yill bt io Ihe Bwd of Tfttyiee w the forth¢<ninB Ann GeDornl M¢asn& Th¢ Tnbtee ire r•wuible for Le4PirtR rxorth th dIthe with r4•srnst It iirne the of the 10 on•ble swe th¥ the lwemts <¢xhFl% iiiih th Cthnwb¢s Aci 2(Mkn Tr Tn1¢¢5 are reswmsiblt for Sireding the Or1¢d •d h¢ tsKin8 remtymble ¥ ror I pre4ffiuon LI of fwwd othor ifrn8dthtsM. I" I '. Th¢ abo1¢ repm h¥ b¢th piepar•l in With th• pr1$70r1 applicabl• tr comwie5 subjeo iu Sm1 ¢ornpwues rewnw 4% 4 of Comwie5 Aci 2IXkn in ¥¢(¥d*K• iiith th¢ Chmiiw SORPIFRS 1021 Si8Md M bohdfoftht ts)¥d PO(kni Trum# jl)thJ 2023 Pther Olwdooni Tn¥te¢ DM# l¥ Jth, 2025
NEW COVENANT CHURCH DUNSTABLE INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examiner's Report 10 the Trusiees of Neil. Coi'enant Church Dun5table l am qua]ified lo undertOe the examination b). being a qualified member of IFA. I report lo the Charit). TrLL51e¢s on m! eiaminalion of the accounls of the charitt. for the )'ear ended 31 December 2024 iihich ¢0tt51Sts of the sialement of financial aclivities. balance sheel and the related notes Re5pon5ibilitieJ And b4$1¥ of repoi* As the charits s Irusiees vou are responsible for the preparation of the accounts in accordance M'iih the requirements of the Charities Acl 2011 I report in respect of mi. examination of the charih s accounts carried out ifftder section 145 of the Act and in carJ?'ing out ms, oxaminaiion I haTre folloii'ed ajl the applicable Dire¢lions given by the Charirj. Commission under section 145(5)(b) of Ihe Aci. Independent examlners statemen¢ I hai'e ¢ompleied m), eiaminaiion. l Confirm th no materiaI matters hai'e come to m), attention in Connection with the examination ivhith gil'es me cause lo believe that in, Any material respect.. the accounlins records ivere noi kept in accordance iNith section 130 of the Charities A¢1; or the a¢counls did nol a¢cord with the accounting rOrdS. or the account5 did not compli. w'ith the applicable requirements conceming the fomi and ¢ontent of accounis set out in the Charities (Accounts and Repons) Regulations 2UU8 other than anv requirement that the accounts sii'e a 'true and fwr i'ieii. Ivhich is noi a matter Considered as part of an independent ekaminalion. I haTr¢ no concerns and hai'e come across no other matters in connection ii'iih 1he ¢xaminaiion to ithich attention should be draiNn in thi5 report in order lo enable a proper understanding of the accounts to be reached. Name. TOb.tOA Limited Date. 18 Juts. 2025
NEW COVENANT CHURCH DUNSTABLE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Reeon)mended Categories by activity Unrestrieted funds Restricted income funds Total Funds 2024 Notes In¢ome and endowments from: Donations and legacies 37,678.63 37,678.63 Total 37,678.63 37,678.63 Expenditure on: Raising funds 4,364.87 4,364.87 Charitable activlties 8,376.21 ,376.21 Other I,000.00 1,000.00 TotAI 13,741.08 13,741.08 Net In¢omel(expendlture) 23,937.55 23,937.55 Transfers between fund5 (20,000.00) 20,000.00 Net mov¢m¢nt In funds 3,937.55 20,000.00 23,937.55 Reeonciliation of funds: Total funds brought forward 73,208.65 61,462.46 134,671,11 Total funds carried forward 77,146.20 81,462.46 158,608.66
Rttoinniiid¢d CAiQ%Orii bi. Xthti'iritd in¢onie I niriiii¢itd Triindi F IiL'Ct 441I.IM 4411.iMI 1$ 111 61.146.Zn Al.462.46 142.64B.66 7b.696.211 111.462.46 IU.148.66 76,6Q6.21 111,462.46 146.2t) 111.462.46 .20 7Y 14b.10 RLb4iTl¥lL+d In¥iim¢ IlUiil% 1.4fy1.46 81.4b2.46 Toilll fiJnd* ry 146.21) 111.462.4ts 1411.N18.66 bvliaif b, Peier Olulfila Oni Trusie¢ Dt I x Juli •ll?4
NEW COVENANf CHURCH DUNSTABLE NOTES TO THE FINANCL4L STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 l. Accounting Polities The principal accounting policies adopted bl, the Charity, Ivhich is a public benefii miits", in the preparaiion of the accounts are as follows. 1.1 BRsis of prepAfAlion These accounls have bw) prepared under the hisloricai cost coni'enlion, as modified by the inclusion of tharitable properties and fixed assel ini'estment5 and ini'eslmenl propertie5 at i"atuation These accounts have been prepared in accordance 'ith "Accounting and Reporting b). Charities.. Sialemeni of Recommended Practice applicable 10 charities prepwing their accounis iti a¢¢ordance Aith Ihe Finan¢ia] Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effectii e l J8nuan' 2019)- (Charities SORP {FRS 1021), Ihe Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) and Ihe Charities Aci 201 L. These accounts are present¢d in pounds sterling and rounded to th¢ neare51 pound. 1.2 Going Concern The Trustee5 hai'e prepared financial projections, tak-in8 into consider8tion the ¢urrenl economic Condilions and have, al the time of approfv'in8 Ihese accounls, a reasonable expeclalion Ihai the charil). has adequale resources lo continue in operational exisien¢e for the foreseeable future. Thus, th•. continue lo adopt the goi concem bu5is of accounliny in preparin8 the accounls. 1.3 Income from donations or grants Income from donations and grants is recognised when the tharity 1$ enliiled to the funds, Ihe receipt is probable, and ihe amount can be measured reliabl!.. For donations, this is usua]li' on receipt. For grants, this is usually M'hen a formal o'er is made in Mriting. If a donation or grani contains terms and conditions outside of the chariti, s control ii'hich musi be mel before the chariti. is enliiled to Ihe funds, or if the donor specifies that the funds must be used in fuiure tim¢ periods, the income is deferred. 1.4 Legacies Legacies are included in the SOFA ivh¢n teceipl is probable, that is. ii,hen there has been grant of probaie. the executors hai'e established that there we sufficient asseis in Ihe esiat¢ and ani, condiiions attached lo the lega. are either iiithin the control of the chaTih' or hai'e been met.
1.5 Tax reelaims on donations and gifts 'ft Aj'd re¢eii'able is included in income ivhen there is a valid declaralion from the donor. Any Gift Aid amount recoi'ered on a donation is considered lo be part of that g]fi and is treated ILS an addition to the same fwid os the initial donation unless the donor or (he temis of the appeal have specified oth¢rni'ise. 1.6 Expenditure Expenditure is re¢o8nised ii,hen a present legal or conslruciii'e obligalion exisis at the balance sheet date a result of a past ei'enl, il is probable that & transfer of economic benefils i11] be required to seiile the obli8alion, and the amount ¢an be eslimaled reliably. Et is inclusii'e of VAT ii'hich cannol be y01'ered. Direct cosis are those wsts M'hieh th'rectlv attribute 10 its acrii'ities. Wages and sdaTies are allocated 10 direct ¢osts based on an e51imate of lime speni on charitable activities bN' Staff members. Support cosis in¢lude staff costs and are those M'hich do not produce a direct output, Staff costs relate lo specific actii.ilies and this is reflect1 in the allocation of paN'roll ¢o$is based on the percentage of lime speni. All costs, including goi'ernonce costs, are allocated bettveen the expenditure caiegories of the charil). on a basis designed to reflect the use of Ihe resource, Costs relating lo a particular a¢tii'ity' are charged diredly; others are apportioned on an appropriate basis. Support costs and oi'erheads have been ¢al¢ulaled bv a]Iocv¢tin8 slafftime 10 the level of ini'olvemeni in the i'anous actii'ilies of the Charits.. 1.7 Fund accounting Unreslricled funds are tho$e fLfftds H,hith ure available for use at the dis¢retion of the TteeS in furtherance of the general ObJtIl.es of the charity. and 'lu.Ch hai'e not been designaled for other purposes. Reslricled funds are funds ivhich are to be used in COrdanCe iN'iih specific restrictions imw)sed M. donor5, or ii,hich hai'e been rwsed by the charity for particular purposes. 1.8 Tangible fixed assets Tangible fixed &£sels, such as land and buildings, plont. i'ehicles and equipmeni, are held to proi'ide an on-going economic benefit lo a charih. through their Contributio directls. or indirecili., to the proi'ision ofgoods or serl'ices . the charity.. Tangible fixed assets, other than freehold land, are stated at cost or i aluation less depreciation and Ani. proi'ision for impairnient. Depre¢ialion is prolided at raies calculated lo iwite off the cost or I'aiuaiion of filed &ssets, less their egtimaled residual i'alue, oi'¢r their tpeed useful lii'es on the following b&8is'.
Name Computer Year Method Reducing Balance 18 1.9 Debtor5 Debtors (including members in need) are m¢asured at the value lend with out any interest applicable less any amount already repaid by the borrower to reduce the advance given by the charity. Subsequently, they are measured at the amount of loan exp¢ct¢d to b¢ paid back. 2. Income from Donations and Lega¢ie$ Anaty8iJ UDr¢stri¢ted funds TotY41 funds 2024 Donation and gifts Gift Aid 21,661.01 16,017.62 37,678.63 2l,661,01 16.017.62 37,678.63 3. Expenditure on Raising Funds Analysly Total funds 2024 Rent collection, property repairs and maintenance charges Support Costs 3,508.00 856.87 4 J64.87 4. Expendlture on Charitable Activities TotAI funds 2024 Analysis Cost of services Donations Legallprofessional fees Honorarium Training Support Costs 1,105.30 783.98 664.06 400.00 3,366.00 2,056.87 8J76.21 5. Support Costs Tot21 funds 2024 AD21y$is Printing and stationery Insurance General Transport 407.96 1,115.22 190.56
Governance Costs Accountants fees 1,200.00 2,913.74 6. Other Expenditure Anatysi8 Unrestricted funds Total funds 2024 Donations 1,000.00 1,000.00 1,000.00 1,000.00 7. Detalls of certain Items of Expendlture This year Last year Independent examlner'g fees Assurance s¢rvic¢s other than audit or independent exMInatIOn Tix advisory fee9 Other fees (for example: financial Yddvlce, consultincy* 8¢COUlltancy servicey) paid to the independent examiner 1200 1200 8. Tangible Fixed Assets Computer Equipment 8.1 Cost or valuatlon At 01 January 2024 Additions 450.00 Disposals Revaluations Transfers At 31 December 2024 450.00 8.2 Depreciation and impairments At 01 January 2024 Charge for the year Disposals
Revaluations Transfers At 31 December 2024 8.3 Net book value At 01 January 2024 At 3 l December 2024 4SO.00 9. Debtors: Amounts falling due within one year Total funds 2024 Other debtors 15,500.00 15,51)0.00 10. Cash at bank and In hand Total fund$ 2024 M¢tro Bank Community Account Lloyds NCC Dunstable 61,846.46 80,812.20 142,658.66 I l. Charity funds 11.1 Detalls of material funds held and movements durlng the CURRENT reporting period Fund balan¢¢s brought forward Fund bglances carried forivard Gains nd losses Fund names Income Expenditure Transfers Unrestricted funds Genernl Fund Restrieted income funds Restricted Income Funds Total 73,208.65 37,678.63 13,741.08 (20,000.00) 77,146.20 61.462.46 20,000.00 81,462.46 134.671.11 37,678.63 13,741.08 158,608.66
11.2 Transfers between funds This Year Amount Between unrestricted and Testricted funds 20,000.00 Between endowment and restricted fund5 Between endowment and unrestricted funds