## **NEW COVENANT CHURCH CHESHUNT** Charity Registration Number: 1190296 Report of the Trustees and Financial Statements For the year ended 31 December 2022 ## **Contents of the Financial Statements For the Period Ended 31[st] December 2022** ||**Page**| |---|---| |**Report of the Trustees**|**3-7**| |**Report of the Independent Examiner**|**8**| |**Statement of Financial Activities**|**9**| |**Statement of Financial Position**|**10**| |**Notes to the Financial Statements**|**11-13**| ## **NEW COVENANT CHURCH CHESHUNT** ## **Trustees Annual Report for the year ended 31 December 2022** The Trustees present their annual report with the financial statements of NEW COVENANT CHURCH CHESHUNT for the year ended 31st December 2022. The trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements of the charity’s governing document and also provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued March 2005 ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered Charity Number** 1190296 ## **CIO Number** ## **Registered Office** 37 HATTON ROAD CHESHUNT WALTHAM CROSS EN8 9QG ## **Trustees** Samuel Omirin **Chair** (Appointed 01 Jan 2021) Ademola Aderemi (Appointed 01 Jan 2021) Julius Ibitoye (Appointed 01 Jan 2021) ## **There has been no change to the board of trustees in the past report year.** ## **Independent Examiner** TONVIA FINANCIALS 128 City Road, London, EC1V 2NX ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **STATEMENT OF TRUSTEES RESPONSIBILITIES** The trustees are responsible for preparing the report of the trustees and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and applications of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements the Trustees are required to; - ➢ Select suitable accounting policies and then apply them consistently. - ➢ Observe the methods and principles in the Charity SORP, - ➢ Make judgements and estimates that are reasonable and prudent - ➢ Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business The trustees are responsible for keeping proper accounting records which discloses with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended. ## **Samuel Omirin (Chair) 31[st] Oct, 2023.** ## **NEW COVENANT CHURCH CHESHUNT** ## **Independent Examiners’ Report for the year ended 31 December 2022** **I report on the accounts of the charity for the year ended 31 December 2022 which is set out on pages 11 to 15** ## **Respective responsibilities of trustees and examiner** The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general Directions given by the Charity Commission (under - section 145(5)(b) of the Charities Act, and - to state whether particular matters have come to my attention. ## **Basis of independent examiner’s statement** My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in, any material respect, the requirements: - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and comply with the accounting - requirements of the Charities Act have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. TONVIA FINANCIALS Date: 27[th] Aug 2023 ## **NEW COVENANT CHURCH CHESHUNT** ## **STATEMENT OF FINANCIAL ACTIVITIES** |||**STATEMENT OF FINANCIAL ACTIVITIES**|| |---|---|---|---| |**Incoming Resources**
Gifts, donations & incoming resources
Voluntary income
Grants received
**Total Incoming Resources**
**Resources Expended**
Resources expended to charitable
activities
Resources expended to other charitable
activities
Management and governance costs
**Total Resources Expended**
**Net incoming resources**
**Total funds brought forward**
**Total funds carried forward**|**Notes**
**6**|**FOR THE PERIOD ENDED 31 DECEMBER 2022**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total funds**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**23,214**
**-**
**23,214**
**-**
**23,214**
**-**
**23,214**
**24,586**
**24,586**
**224**
**224**
**-**
**-**
**24,810**

**24,810**
**(1,596)**
**(1,596)**
**10,043**

**10,043**
**8,447**

**8,447**|**18-month**
**period ended**
**Dec 2021**
**£**
**36,311**
**3,296**| ||7
7||**39,607**| ||||**28,853**
**711**
**-**| ||||**29,554**| ||||**10,043**
**-**| ||||**10,043**| ## **NEW COVENANT CHURCH CHESHUNT STATEMENT OF FINANCIAL POSITION** ## **AS AT 31 DECEMBER 2022** |Notes
**NON-CURRENT ASSETS**
Tangible Fixed Assets
**CURRENT ASSETS**
Cash and cash equivalents
12
**Total Assets**
**CUURENT LIABILITIES**
Amount falling due within one year
**NET CURRENT ASSETS**
**NET ASSETS**
**CHARITY FUNDS**
13
General - Unrestricted
General - Restricted|**2022**
£
-|**2022**
**2021**
£
£
-
-
8,447
10,043|**2022**
**2021**
£
£
-
-
8,447
10,043| |---|---|---|---| |||**8,447**
**10,043**|| |||-
-|| ||-|8,447
10,043|| ||||| |||**8,447**
**10,043**
8,447
10,043
-
-
**8,447**
**10,043**|**10,043**| ## **Notes to the Financial Statements for the year ended 31 December 2022** ## **1. Accounting policies** Basis of measurement and preparation of accounts The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments and in accordance with applicable Accounting Standards. The Trustees have adopted the recommendations contained within the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2005) applicable accounting standards, the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2005. ## **2. Income and Expenditure** Income and expenditure are accounted for on an accrual basis. ## **3. Tangible fixed assets depreciation policy** Fixed assets comprise equipment costing more than £200 or have a useful life of more than a year. Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life on the following basis: Freehold buildings - 2% on cost or revalued amounts Computer equipment - 25% reducing balance Fixtures and fittings - 25% reducing balance Motor vehicles - 25% reducing balance **4. Unrestricted Income funds** are incoming resources for the objects of the charity without further specified purpose and are available as general funds. **5. Restricted Income funds** are subject to restriction on their expenditure imposed by their donors ## **6. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES** |**DONATIONS, LEGACIES AND SIMILAR**
**INCOMING RESOURCES**|| |---|---| |Collections and standing orders
Sundry Donations|Unrestricted
Funds
Restricted
Funds
Total Funds
**£**
**£**
**£**
**23,214**
**-**
**23,214**
**-**
**-**
**-**| ||**23,214**
**-**
**23,214**| Income is recognised in line with the Charities SORP. Income received in excess of expenditure is carried forward in the reserves. |7.|**CHARITABLE ACTIVITIES COSTS**||**Total**| |---|---|---|---| ||**.**|**£**|**£**| ||**Resources expended to charitable activities**.||| ||Rent|15,000|| ||Rates|630|| ||Insurance|464|| ||Sundry expenses|255|| ||Oher charitable expenses|8,237|| ||||24,586| ||**Resources expended to other charitable activities.**||| ||Admin|164|| ||Bank charges|60|| ||||224| ||||**24,810**| ## **8. TRUSTEES REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2022. ## **9. EMPLOYEES** The average number of employees during the period was 0. No employees received emoluments exceeding £60,000 per annum. ## **10. CASH AT BANK** |**2022**
**£**
**8,447**||**2021**
**£**| |---|---|---| |||**10,043**| **----- Start of picture text -----**
11. MOVEMENT IN FUNDS Net Movement in funds
At 1/1/22 At 31/12/22
£ £ £
Unrestricted funds
General 10,043 (1,596) 8,447
Restricted funds - - -
TOTAL FUNDS 10,043 (1,596) 8,447
**----- End of picture text -----**
Net movement in funds, included in the above are as below **----- Start of picture text -----**
Incoming Resources
12. resources expended Movement in funds
£ £ £
Unrestricted funds
General 23,214 (24,810) (1,596)
Restricted funds
Restricted funds - - -
TOTAL FUNDS 23,214 (24,810) (1,596)
**----- End of picture text -----**
## **13. RELATED PARTY DISCLOSURES** No payment was made to the Trustees or any other persons connected with them during this financial year in their capacity as Trustees **14.** No material transaction took place between the charity and a Trustee or any person connected with them.