NEW LIFE WQRLDWIDE APOSTOLIC CHURCH Report and Account 31 March 2024
Now Life Worldwlde Apostolic Church Reports and accounts for Year Ended March 2024 Contents Page Trustees, Annual Report Statement of Trustees, sponSIbl1[leS Accountsnts, report Statement of Financial Activities Balan sheet Notes to the accounts
New Lifg Worldwide Apostolic Church Trustees. Annual Report for the year ended 31 March 2024 Aims and purposes: The aims of the charity New Life WorldwKle Apostolic Church (NLWAC) a set out in its goveming document. Our main purpose is to advance the Christian religion, as a Churth family and followers of JESUS CHRIST, as we worFhip GOD and further the love of GOD in the Sandwell Community. the United "n10M and Worlthm'de. Objectives and Activities: Provide a safe arKI friendly environment for people of all ages who wish to worship with us and who llSh to develop spiritually. wilhin the Communty and abroad. Providing pastoral well-being dCkS and vistts offering one-tone counselling. and support to individualslfamilies in need irreswtive of their religion. The activities of the Church indude: Church Services, Seminars arKJ Debates. Counselling of members and sla[ Events for members. The main activities undertaken during the year to further the charity's purpc>se for the wblic benefit.. Weekly Service51moetings. Monthly Carboot sales, providing breakfast and refreshments. In March a New Life Celebration. for members, their fanilies and friends; games for the children, bouncy castles, providing a sil-down buffet meal and refreshments. Achiovements and Perfom)ance: The main achievements and performan of the chanty duriry the year, Maintaining Ihe Charitabte obj'ectives; We are expandirKJ the church with new contacts in South India, there's notiable growlh in our London and Bristol OLrtreach churches and we are now establishing new online ventures. Collaborations with other thurches for special events such as '8lack htstory month.. We maintain regular contacas with Irxal stakeholder5 by attending local forum me8tiTrJs. In November 2023. the Senior Elder of the Church organised a Kenya Crusade and took team to Minister to thurdies in Kenya who had contacted New lrfe Church, the visit was successful and new contads are being established daily as the Kenya outreach grows. The churches in Kenya join in the weekly Tuesday BIte Study meetings via Zoom and they also join the Online services which also began in November 2023 and take place monthly. Refurbishing and repairs to our church headquarters has been a prioiity: Outside, the driveway. and front entrance paving have been rea¢ed. Inside. we now have a functional, administrative system in operation as well as a refurbished office. We also decorated the downstairs entran hall, two main rooms and the corridors. We are now looking to refurbish the stairs and landing in the near future.
r monthly Cart)oot continues to be popular wilh the community and we regularfy welcome new contacts. INe have buili a strong communty safe space for indivjua[S to socialise, enjoy a hearty breakfast, refreshments and a friendly chat. Posittve feedback reiVed continuously from the Gommunty is welcomed and we also offer the members of the community. the opportunity to disqtss and share SuggeStior of the local needs. The Church was nominated to receive fundirvJ for a secx)nd year from Tesco as a sponsor for the Children's SGh¢Jol Holiday Hunger scheme dunng school holidays which again was successful and appreaated by local families Demonstrating that the local ¢ommunty recognises the work that we are doing and the support we provide. Finally, our Youth Comer Media Team are flourishing and proadively supporting the Church on all our social media platfoms. The Youth Band are progressjng in their musi¢al tslents and are continuing to grow into a IrfOrm4r ready tearD. To the Glory of GOD. Worshlp and Prayor: NLWAC is keen to offer a range of services during the week an¢ over the course of the year, that the Community find both beneficial and spiritually fU111ng. For example. Tuesday night Bible Study provides time to engage with all ages in reading the scriptures and answering questions, from the youth tegm and new members. We have been successful in welcoming m(*e f•nilies into our Church. both in the UK and abroad. In addition, a great deal of time and thought was spent during the year on how to continue encouraging new members in Uganda. Structure. Govemance and PAanagement of thè Charlty: The method of appointment of Trustees is set out in NLWAC'S constituts.orb docurnent. The Trustees are resp)nsible for making decisions on all matters of general ¢on¢ems and importance to the Church. Ind11ng how funds are to SFenL Flnancial Revlew. During the year we had improvemerts in all areas of the Incomi resources which cumulated to overall increase of 16.8% over last year. However, our Expended resources grew by 190A above the previous year. This was due to the maj¢K repairs of £16.541 carried out during the year. The increase in the cashflow arKI equity in the Church building presented the churth viith overall growth in Church Funds of 13.67'h over last year. The Church is still paying back the interest free loan used to acquire the Church property. To date. the Churth's equty on the propety is about 74%. leaving an outstanding debt of £41,000.00.
L¥• WowlthAd•ApoBtollc Chwch Al•xandvr O Morfi 89 St Virtent CRsceAt Wo$t 870 OLG Thts chW$ trustees afft lortt kyeporakn d Ihe acumlS in accordan ilh the ofthe ¢vat 2(1]6. CharlwP4 2011 aThJ (Arts ReFKVtI 2(N)O. NcththslaThJw Ihe expU(it reQuinent in thv exlarrt statulffjl the Chwths (A¢cwrts ReFoJtsI RoulatKyB to pp8 finan¢K•l $ements in with S(XP 2f))5. oflhe Ihat SORP has ten Ttee$ ftemits)ed to interprvt Ihis re5pon%Wty a$ lhl0¥0Jert best warkn and weparethÈ wxwlts lo FRS 102 SORP IStemenl of fty4yMlir4 aThJ Rwxts"TrJ by Ctiathsl 2015.las an by the Bulleli) ued in Fetyvary 2016. S(NgPI In p8rticuLqr. the Conwarw A¢ thorty the Br olTTh•teesto rye?0 st8teTrwnts fOrh ffinancHI yearwhith gNe a true viewrfthÈst daffaws oflhecharty a& atthe eThl ofthe Tra[ year and LrfsuWu$ or 88kd Sulab actoting pJk5 c4MisIth". conb.nue in twgrs8'. sutied 10 any materwl 1p¥lu exF4xd in thofmarmxl st818mrt8', the state of&ff8n ofthe 8thY tt fijrthe year. any the fina ¢horty ONI whKh are to ar¥J explo the charty Ifan5aLot15 and enobio them to erydurothalthoffinwwl stal8nwts wth the Corrwri&s A(a with midtr under tho cha11t5 Act They rtspofisibfe ft¥r$8frgvarrfry the assets of tt chwrty and herKtfort8kir¥J rea50Th8ble 51epslorthe The Twstees arn akn fvtth¢ (X oltheTnMtees' W, arhj statuw rews1>lty ofthe [j0pndVlll ExsmlneT in rebtth to Its Tnstaes. i& lo 8rin rekNI w¥J etswir¥J th&fac ofthe ttyort ihwo The financial ststernents a set (MJI pty8$ 4 to 11. Accounting and Rep¢*trg ty Charllesl 2015. las wnended byth• Bulkntin Fe 20161, ffhe SCIIP). In accoFdanc• with Iho Firwnoal StsThlard 102. (eff8rthe 19J8nuary 20161 TnJ5tae
New Llfe Worldwlde Apostolk Church Independent Examlnerfs Report to the trustees of New Llfe Apostolic Church I report on the accounts for the year end1 31sI Marth 2023 which are set out on pages 6 to 8. ROS¢1• responslbllltles of the Trustees and Indepondent Examiner The charity's trustees consider that an Audii is not required for this year under section 144{2) of the Charity Act 2011 (the 2011 Act) and that an independent examination needed It is my responbIlIty to". a. ExamirE the ants under seclion 145 ofthe 2011 Ad: b. Foll¢yH the pr(edureS laid down in the General Directions given by the Charity Commissoners section 145(5){b) of the 2011 Act.. and c. Stste whether particular matters have come to my attention. Basls ot Independent Examinefs Statsment My examination was carried out in accordan With the General Directlons gr¥en by the Charity Commi55ion. An examination includes a revlew of the accounting records kepl by the charity and a comparison of the accounts presented with those records. It also includes consideiation ol any unusual items or disclosures in the accounts. and seeking explanations the rnanagemenl committee conceming such matters. The procedures undertaken do not provKJe all the evidence that would be required in a fijll audtl. and Consequenty I do not express an audit opinion on the accounts. Indepondent Examlnrfs Statem In connection with my examination. no matterys have come to my attentK)n'. which give me reasoryable cause to believe that in any material respect the requirements: a. to keep accounting records in acCOrdar with s.130 of the 2011 Act; or b. to prepare accounts with which accord wilh Ihese accounting records have not been met; or 2. to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Sign Alexander O ordi- IWndent Examiner Alexander Mor & Assctiates CertIfd Chartered AccountsDts 89 St Ifincent Crescent West Bromwith 870 OLG This report was signed on 19 Augwst 2024
Lif• Worldwid• Aposlolk Chureh Flnanclal Statements for the Year Ended 31 Ilrch 2024 stateThnt of Fin•n¢ial A¢tlYlti•ts Fund• Funds Fund Fund• 2024 2023 Incomlng Resour¢•s Donation8 and Legacie8 45.350 47.275 43,464 Ctt8r118bfe Actlvrfle$ 11.553 11,553 6.938 Other Trading ActNites 24,591 24.591 21.0)5 Total 81.4 83.419 71,407 RIur¢ Expendod Charitable Ac11tieS 71,039 6.821 77.860 65.406 Total 71.039 6.821 77,860 65.406 Net gainloossesl on in¥8sbnent Ngt Incom8llExpenditurel 10.455 (4.8961 5.559 6,1 Transfer betsveen Funds Netmovements in Funds Total Fundg brought f¢rnard118t Apr) 25.888 8.&57 34.545 28,544 Total FuThl¥ foNArd131st klar) .343 3.761 40.104 34,545
Ufe WOrfdwl Apostolk Churth Bal•nce Sh••t al 31 Ilareh 2024 2023 Fix•d Ats T8ngfibk Assets 5(4) 141.1 141.C 146,570 146.570 Current A¥s¢ts Cash at bank and 1 40.104 40.104 Llabllltles U•lYlltl•s In on• y•ar Inter&st Freo Loan 16, 16,800 W•¢ Currant A88•ts 23.304 17,745 T¢)tsl As#•ts Less Current LlabllSttep 164.370 164,315 Amounts f•lling dtm •ft•rt)n• yr Intest free Lo 24.2 41.C T¢t•l N•t A¥s•ts 140,170 123.315 Mr Davhj Abraham bo the the prony at4 Sl Janxs Slre8tarJ tr¥rthrwJ 10 the Churtth for£160,fAJO on ter8St ff8e k)an. Ropayment 1$ by a MlhIY payment of £1.4CKI tr) hm. He j¥er. has a the Prrprty untsl rmal payment ty rnle. Church Funds 2024 136.4C8 3.761 140.170 2023 UN&strkted Funds 114,658 8,657 123.315 Rest8 Funds The attached ncle8 ftym part ofthese na4a1 s&*ements Appr by the Tnjstees on dale 4rtod on their behalf trrf JMIW,IX David Abraham CHAIR of TRUSTEES 19 August 2024
New Llf• Worldwldo Apostolic Church Flnancial Stat•m•rts for th• Year Ended 31 2024 A¢¢ountln The finartial ststements have been preprn n a¢cordwtt the Statement of Remmended Practice for Charities ISORP) appficable accounling standa$ (FRSSEI or {FRS1021 The finanual ststements have been prepared urKler the hisknica] cost converttion.The ffinanal stalemerts indude all tranSact[cS, assets and lObrt¥ for tbe Church is sp(S1b1e in law. They do not include Ihp acco of dyurch groups that ov their main affibaiion to another body nor Ihose that are infml gathenngs of Chwth rneMb. Descri nofF Rostslctgd funds comprise of two elements ". a) income from trusts or endowm which may be eXpd only on those restricted objects provided in the ienns of the trust or tequest bl d(tiOnS or 9rants received for a speuf¢ (je¢l or invited by the Church for a specifK object. The funds moy only be exppnded on fv spetsf object for which th were given. Any balance remainirvj unspent at the erKI of each year must be carried forward as a balance on that fund. The Churc th)es not usualty invest separately for each fd. Whwe there 1$ separate irweslmenl, interest is apFrfYt'(MMI to individual fijnds on an average bJan¢e basig. Unrnstr6ct•d funds are Inre funds ¥e to be spwit on ts ChLrth¥ gra1 purpose. Inc ml Ro$OU Planned gi14ing, collections and do115 are recognised when received. Tax refunds are rec(wised wn the incoming resource to they relale is receNed. Grts and Legwes are accounted for vhen the Church legalty entitted to the arrKunts due. Dwidwth e accounted for when receivab, interest is accrued. Al other wJcoTh is recogntsed when il is receivable. All incoming sourceS are acC(yj tr gros$. ourc8s Ex Grants and donations are aocounted for Vthen paid over. or when awarded, rf that Z4vard creates binding or constructive Oball the Churth. Amwnts received speufically mtS5ion are deatt wbth as restrthd fund$. Al other expenditure is genefalty recognTrsed it r& incurred and is cOUnted for gross. Flxed As Consecrated and berfKe 15 not inckthd from Ihe attwnts by $.10(2)(a)&(C> of the Charitie5 Act 201 1. M0Veab church funNshirvJs ilUde lisbj CIKKch's inventryy, can be Thpted lal any reasonable lirne). Depreciatton has been prowded at the fdkA¥ing rates in order lo wYiteThffithe assets to their anticipated resKlual Va over estimated useful lives Church Premises ChLtrr¢h Equipment 2 % stfaight line 20 % slraighl line
Now Life Worldwide Apostollc chUh Notes to Financlal Ststemants for Year Ended March 2024 Total Unr•strfcted D•slgnat•d Restricted Endownmfrnt Funds Funds Funds Funds Funds 2024 Tolal Funds 2023 InGome and Endovmwnts Irom: Donatlons and Legacles 45.350 1,25 47.275 43.464 Volunt•ry Incom&R•cws Tithes 43.565 43,5 37,598 Other plamed glving Colloctions at serNices All other giving and vduntsry receipts induding 5peual 4Jpeal$ 1.785 1.785 1.051 1,925 1.925 4,815 haritsble Actlvllles 2b 11.553 11,553 6,938 Church Actlvldes Car Boot 1.792 1,792 1.703 Fund Raising 1.749 1.749 707 Tax Recovered 8.012 8.012 4.528 Endty*lw Tot•1 Fuhd& Toial Funds Funds Other Tradlng Actlvltss 24.591 24.591 21,005 Activities forGeneratlng Fund Rent 24.591 24,591 21,005 Tolal 81.494 1.925 83,419 71.407
New Life Worldwide Apostollc Church Not88 to Financial Statements for Year Ended March 2024 Total Unrestrtl¢d D•slgn•t¢d Restrl¢t•d End0ment Fund Funds Furyl¥ Funds 2024 Total Funds 2023 EXPENDITURE ON: Charltable Actlviti88 71.039 6,821 77,860 6S,406 Church Activitles Mjssion giving arKI donations Salarieslwages Clergy and Staff Expenses 10.800 10,800 12,000 Cfrurch Expenses Church running expenses Church Expenses IMi$sion and Evangelisrn) 15.248 15.248 16,525 2.452 2.452 2,535 Church uiilty bills 13.741 13.741 12,231 Premises Insurance 2,277 2.277 2,036 Major Capital Expèndilurn Major RepaKs to the Churth 9.720 6,821- 16,541 3,280 Repayment of loan 16.800 16,800 16,800 Tolal 71.039 6,821 TT.860 65.4(
New Llfe Worldwido Apostolic Church Notes to Flnancial Statements for Year Ended ljiarch 2024 2023 4(a) Staff Costs During the yew the cfKKth slaff 4(b) Church Costs The sum of £10.800 was paid to the lead Pastor. Mr J D Abraham as stipen folowing the approval of the Trustees at one of thew meetiThJs duriryg the year for travelling and other expenses. 6(a) Fixed Assets BulldlTrJs At Cost or Valuauon Asat1Aw_ Addrtions in Ihe Year 160.IXKI 99.112 332 259,112 332 DisFwI n the Year Revaluation {rfany) Value al 31 160,IXIO 99.444 259,444 Aecumulated Dew¢i•li Asat1 Apr_ Charge for the Year DisFos* As at 31 Mar 16.000 3.200 ,542 2.636 112.542 19.21Y] 99.178 118,378 Net BcKJk Value at 31 Mar 144.CLKI 2,W2 146.902 Net Bk Value at 01 Apr 140,8(KI 141. 10
New Llf• Worldwide Apostollc Church 6 Llablllties 2024 2023 Amounts falllng due In one year Accural$ of Utilities Amounts Received in Advan Interest free Other Creditors I6,) 115 16,8C(I 16,915 60 Amounts lalllng due afterone year 2024 2023 Inlerest fe k)an 24.2LKI 41.000 24.2CKI 41.tKKJ 7 Anatysis of Net Assets Unr•striet•d FuThl8 Fund¥ Fixed Assets Investment Assets Current Assets Current Liabilibes 141,086 141.( 36.343 16.8(K) 160.f 3,761 40.104 16.800 164,370 3,761 8 Funds Racon¢llation Inv•slment Resorws 31 PAar Unresthcted F8 25.888 81.494 71.039 36,343 Restriled Funds Upper Rr)(¥n Pledgè & OthAs Tot1 Fund 8.657 1.925 83,419 6.821 3.761 40.104 11
New Life Worldwid• Apostolic Church 9 SOFA Comparatives Ipr8ViOU5 yearl Funds Donarkins aThd Le8acies CharitableA(twities 40.314 3,150 Olhei Tralin8A(IWs 27.943 27,943 atableAc1 82.C67 65.406 Net galTrllh)ssesl ithstmetht Net kncomllExpen(Ntwel 6.1 1189) 6.Th)1 Transfer between Fund5 Totsl Fund5 bvWfor¥rtw ItsIAprl 19.698 28,544 25.888 34,545 12