New Life Christian Centre International
Report and Accounts Year ended 31 March 2024
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
CHARITY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Elisabeth Adare
Benedicta Atakorah (resigned January 2024) Jens Ian Christensen (resigned February 2024) Clive Patterson Sonia Young Elecia Smith (appointed May 2024) Eugene Ofori-Atta (appointed March 2024)
Governing Document
Constitution dated 21 December 2021
Charity Registration Number
1197244
Registered Office
Room J 1 Tower Lane East Lane Business Park Wembley
Independent Examiner
Sarah Crispin (ACA) Stewardship 1 Lamb's Passage London EC1Y 8AB
| 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 | 8-14 |
| Detailed Statement of Financial Activities with Comparatives | 15 |
Page 1
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees have pleasure in submitting the Report and Accounts for the year.
Objects of the charity
The charity is a charitable incorporated organisation and is governed by its Constitution. It is an Assemblies of God (GB) Status Church. The objects of the charity, as set out in the governing document are:
To advance the Christian faith in accordance with the Statement of Faith in such ways as the charity trustees shall from time to time think fit including, but not exclusively, through religious worship, religious lectures and other forms of religious education for all ages, celebration of religious festivals, producing and/or distributing literature of Christian faith to enlighten others about the Christian religion, providing pastoral care and carrying out outreach work in the community.
Summary of the charity's main activities and achievements
To further the above objects and vision, the charity's main activities and achievements were as follows:
-
Sunday services for the community including Sunday school for ages 3yrs to 16yrs to share, discuss, support and advance spiritual maturity.
-
Young Adult Group meeting twice a month providing a safe and open place for the teaching of, and fellowshipping with young adults wanting answers to life experiences.
-
Discipleship groups that encourage prayer, individuals to share their faith and equip them for ministry life.
-
The practical and financial support to seven different missionary programmes in countries including India, Ghana, Nigeria, UK and Europe. Providing services and activities including medical assistance, education, skills training, supporting widows and the feeding of the poor and vulnerable.
-
A Bible school that provides the formal teaching of the Bible and life as a Christian for new and mature believers. Bible school provides one year and two year evening courses.
In addition to the above, we have delivered two Christian Development Courses for fifteen new believers who have joined the church and have been baptised during the period.
Sixteen students attended Bible school during the period and have since graduated Bible school at the end of June 2024, receiving certificates for one year and diplomas for completing two years.
A great achievement for NLCCI is that the church has been able to maintain much of its activities, even with the restrictions of not having its own premises. This is accredited to the patience and resilience of leaders and members as we continue to search for suitably located premises to ensure we continue to benefit our communities and members.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
Structure, Governance and Management
Responsibility for setting policy and for determining the parameters with which the charity should operate rests with the trustees who meet regularly to monitor the activities of the charity. Responsibility for the day-to-day operation of the charity has been delegated to the administration team led by the Senior Pastor. New trustees are recruited and appointed by the existing trustees, by a majority vote.
Page 2
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Financial review
The charity's source of funds comes from Tithes, offerings and donations from church members and visitors to the church.
To ensure expenditure supports the charity's key objectives, each financial year end a budget, in cashflow format, is discussed and agreed between Senior leaders and Trustees.
During the year income increased by £40,663 to £237,918 and expenditure increased by £19,603 to £199,995. The surplus for the year increased by £21,059 to £37,923. Total assets less current liabilities increased by £37,923 to £296,088
Reserves policy
The trustees have determined that the charity should aim to hold unrestricted cash of no less than £50,000 by 31st March 2025 (which equates to about three months of unrestricted expenditure). The aim will be to increase this figure to £100,000 by December 2025. At the year end, the charity held unrestricted cash of £33,000 which has accumulated over the past two years. This is the first time in seven years the charity has had net funds to accumulate reserves.
Key risks and uncertainties
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
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:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether the applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
- 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.
Page 3
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Approval
This report was approved by the trustees and signed on their behalf by:
- Eugene D Ofori Atta Eugene D Ofori-Atta (Nov 8, 2024 15:19 GMT)
_______ Eugene Danny Ofori-Atta Nov 8, 2024 Date: _______
Page 4
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL ('the Charity')
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 March 2024 on pages 6 to 15 following, which have been prepared on the basis of the accounting policies set out on pages 8 to 9.
Responsibilities and basis of report
As the charity’s trustees of the Charitable Incorporated Organisation 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
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:
-
accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Sarah Crispin
Sarah Crispin (Nov 21, 2024 14:12 GMT)
Sarah Crispin (ACA) Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: Nov 21, 2024
Page 5
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
| Note INCOME AND ENDOWMENTS FROM: Donations 3 Charitable activities 4 Investments 5 Other income 6 Total income and endowments EXPENDITURE ON: Charitable activities 7 Total expenditure Net income/(expenditure) Transfers between funds 14 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 14 |
Unrestricted Funds £ 217,472 6,925 - - 224,397 199,995 199,995 24,402 - 24,402 25,500 49,902 |
Restricted Funds £ 8,284 - 5,238 - 13,522 - - 13,522 - 13,522 232,664 246,186 |
Total Total Funds Funds 2024 2023 £ £ 225,756 196,868 6,925 4,226 5,238 1,122 - (4,960) 237,918 197,255 199,995 180,392 199,995 180,392 37,923 16,864 - - 37,923 16,864 258,165 241,301 296,088 258,165 |
|---|---|---|---|
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 page 8-14 form part of these accounts.
Page 6
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
BALANCE SHEET
AS AT 31 MARCH 2024
| Note FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 10 Cash at bank and in hand 11 CREDITORS: Amounts falling due within one year 12 Net current assets / (liabilities) Total assets less current liabilities TOTAL NET ASSETS FUND BALANCES 14 Unrestricted Funds General funds Designated funds Restricted Funds |
Unrestricted Funds £ 660 660 21,216 32,976 54,192 (4,950) 49,242 49,902 49,902 49,902 - 49,902 - 49,902 |
Restricted Funds £ - - - 246,186 246,186 - 246,186 246,186 246,186 - - - 246,186 246,186 |
Total Funds 2024 £ 660 660 21,216 279,162 300,378 (4,950) 295,428 296,088 296,088 49,902 - 49,902 246,186 296,088 |
Total Funds 2023 £ 990 |
|---|---|---|---|---|
| 990 | ||||
| 14,343 243,292 |
||||
| 257,635 (460) |
||||
| 257,175 | ||||
| 258,165 | ||||
| 258,165 | ||||
| 25,500 - |
||||
| 25,500 232,664 |
||||
| 258,165 |
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
- Eugene D Ofori Atta
Eugene D Ofori-Atta (Nov 8, 2024 15:19 GMT)
Eugene Danny Ofori-Atta
Nov 8, 2024 Date: _______
Charity number: 1197244
The notes on page 8-14 form part of these accounts.
Page 7
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
1 Statutory Information
The charity is a charitable incorporated organisation 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'.
On 31 August 2023, New Life Christian Centre Bridge Park (charity registration number 1090710) transferred its net assets and activities to New Life Christian Centre International CIO. As permitted by the Charities SORP, this transfer has been accounted for as a merger because it qualifies as a charity reconstruction (whereby the charity has simply changed its legal form). In accordance with the requirements of merger accounting, the net assets of the trust were transferred at book value, not fair value, to the CIO. The comparatives presented in the financial statements are the combined results of the Trust and the CIO for the year to 31 March 2023.The Trust was formally wound up on 31 August 2023.
The principles adopted in the preparation of the financial statements are set out below.
a) Going concern
The trustees (who are the charitable company's directors for the purposes of company law) 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 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.
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. It includes income from Bible School fees.
Investment income represents income generated by the charity's assets and includes income from bank interest.
Other income comprises gains/losses arising from the disposal of tangible fixed assets.
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
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.
Page 8
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
2 Accounting Policies (cont.)
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.
f) 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 £1,500 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:
Fixtures, fittings & equipment
Over 4 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.
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) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
j) 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.
k) Critical accounting estimates and areas of judgement The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
3 Donations
| ations | ||
|---|---|---|
| Donations of cash and similar Income tax recoverable |
2024 £ 196,076 29,679 225,756 |
2023 £ 176,719 20,149 |
| 196,868 |
4 Income from charitable activities
| me from charitable activities | ||
|---|---|---|
| Bible School fees | 2024 £ 6,925 6,925 |
2023 £ 4,226 |
| 4,226 |
Page 9
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
5 Investment income
Bank interest
| 2024 £ 5,238 5,238 |
2023 £ 1,122 |
|---|---|
| 1,122 |
| 6 Other income Gains/(loss) on disposal of tangible fixed assets 7 Charitable expenditure a Costs incurred directly on specific activities Staff & contractor costs Ministers expenses Elders & Leaders expenses Ministries expenses Foodbank & outreach Helps & Hospitality expenses Church running costs Live streaming Grants payable (note 7c) b Costs incurred on support & administration Governance costs Independent examiner's fee Other Office costs Legal & Professional fees Depreciation of tangible fixed assets Total expenditure |
2024 £ - - 2024 £ 89,986 4,943 3,348 27,233 176 749 26,186 5,300 157,921 22,325 180,246 2,400 2,633 5,033 12,206 2,180 330 19,749 199,995 |
2023 £ (4,960) |
|---|---|---|
| (4,960) | ||
| 2023 £ 99,688 5,178 1,985 21,604 3,064 650 17,045 5,200 154,413 17,935 |
||
| 172,348 | ||
| - - |
||
| - 7,344 370 330 |
||
| 8,044 | ||
| 180,392 |
The fee payable to the independent examiner for preparing and examining the accounts was £2,400; in addition the charity paid £1,800 to Stewardship for accounts preparation for the final Trust accounts and £456 for payroll bureau services.
c Grants payable
| Grants for UK and overseas mission Grants for the relief of poverty The comparatives for the previous year are as follows: Grants for UK and overseas mission Grants for the relief of poverty |
Institutions £ 15,100 - 15,100 Institutions £ 11,900 - 11,900 |
Individuals £ 1,350 5,875 7,225 Individuals £ 1,800 4,235 6,035 |
2024 £ 16,450 5,875 |
|---|---|---|---|
| 22,325 | |||
| 2023 £ 13,700 4,235 |
|||
| 17,935 |
Page 10
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
7c) Grants payable (cont.)
The charity's principal grants to institutions comprised:
| charity's principal grants to institutions comprised: | ||
|---|---|---|
| Valley Life Trust (Mission 24) Christian Concern AOG Ministry Peniel Ministry The Urban Family (Kidz Klub) Good Shepperd Home Rapha Ministry Grants to institutions for less than £1,000 each |
2024 £ 1,200 1,200 3,600 1,800 2,200 1,800 3,300 - 15,100 |
2023 £ 1,200 200 3,600 1,800 1,800 1,800 1,350 150 |
| 11,900 |
8 Analysis of staff costs, the cost of key management personnel and trustee remuneration
The average monthly number of employees during the year was 3 (2023: 4). 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: Jens Ian Christensen 34,808 - - Eugene Ofori-Atta 3,120 - 150 Other members of key management |
2024 £ 34,808 3,270 - |
|---|---|
| 38,078 |
The following amounts were payable in the previous year:
| Other Employer Wages & employment pension salaries benefits contributions Trustees: Jens Ian Christensen 38,190 - 1,760 Other members of key management |
2023 £ 39,950 - |
|---|---|
| 39,950 |
Jens Ian Chrstiensen (until February 2024) and Eugene Ofori-Atta (from March 2024) served as Senior Pastor and received the above payments for serving in that capacity, not for serving as trustees; these payments are permitted by the charity's governing document.
Page 11
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
9 Tangible fixed assets
| Cost At 1 April 2023 Additions Disposals At 31 March 2024 Accumulated depreciation At 1 April 2023 Charge for the year Eliminated on disposal At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 10 Debtors Tax recoverable Other debtors Prepayments and accrued income 11 Cash at Bank and in Hand Cash at bank with immediate access Petty cash 12 Creditors: liabilities falling due within one year Taxation and social security Other creditors Accruals |
Fixtures, fittings and equipment £ 11,320 - (3,100) 8,220 10,330 330 (3,100) 7,560 660 990 2024 £ 19,951 1,265 21,216 2024 £ 279,156 6 279,162 2024 £ - 4,950 4,950 |
Total 2024 £ 11,320 - (3,100) |
|---|---|---|
| 8,220 | ||
| 10,330 330 (3,100) |
||
| 7,560 | ||
| 660 | ||
| 990 | ||
| 2023 £ 14,343 |
||
| 14,343 | ||
| 2023 £ 240,700 2,592 |
||
| 243,292 | ||
| 2023 £ - 460 - |
||
| 460 |
13 Pension commitments
During the year employer’s pension contributions totalling £1,800 (2023: £3,560) were payable to defined contribution personal pension schemes. Nothing was owing at the balance sheet date for pension contributions
Page 12
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
14 Funds
During the year the movements in the charity's funds were as follows:
| General Unrestricted Funds Total Unrestricted Funds Restricted Funds Building Fund Aggregate of funds |
Opening balance 2024 £ 25,500 25,500 232,664 232,664 258,165 |
Incoming resources 2024 £ 224,397 224,397 13,522 13,522 237,918 |
Outgoing resources 2024 £ (199,995) (199,995) - - (199,995) |
Transfers in the year 2024 £ - - - - - |
Gains and losses 2024 £ - - - - - |
Closing balance 2024 £ 49,902 |
|---|---|---|---|---|---|---|
| 49,902 | ||||||
| 246,186 | ||||||
| 246,186 | ||||||
| 296,088 |
Analysis of net assets by fund
The assets and liabilities of the various funds were as follows:
| Tangible fixed assets Debtors Cash at bank and in hand Creditors falling due within one year |
General Designated funds funds £ £ 660 - 21,216 - 32,976 - (4,950) - 49,902 - Unrestricted Funds |
Restricted funds £ - - 246,186 - 246,186 |
2024 £ 660 21,216 279,162 (4,950) |
|
|---|---|---|---|---|
| General funds £ 660 21,216 32,976 (4,950) 49,902 |
||||
| 296,088 |
In the previous year the movements in the charity's funds were as follows:
| General Unrestricted Funds Total Unrestricted Funds Restricted Funds Building Fund Aggregate of funds |
Opening balance 2023 £ 51,021 51,021 190,280 190,280 241,301 |
Incoming resources 2023 £ 186,249 186,249 11,006 11,006 197,255 |
Outgoing resources 2023 £ (180,377) (180,377) (15) (15) (180,392) |
Transfers in the year 2023 £ (31,393) (31,393) 31,393 31,393 - |
Gains and losses 2023 £ - - - |
Closing balance 2023 £ 25,500 |
|---|---|---|---|---|---|---|
| 25,500 | ||||||
| 232,664 | ||||||
| 232,664 | ||||||
| 258,165 |
Page 13
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of net assets by fund
In the previous year, the assets and liabilities of the various funds were as follows:
| Tangible fixed assets Debtors Cash at bank and in hand Creditors falling due within one year |
General Designated funds funds £ £ 990 14,343 10,628 - (460) 25,500 - Unrestricted Funds |
Restricted funds £ 232,664 232,664 |
2023 £ 990 14,343 243,292 (460) |
|
|---|---|---|---|---|
| General funds £ 990 14,343 10,628 (460) 25,500 |
||||
| 258,165 |
The restricted Building Fund is donations received towards the purchase of a building in the future. The transfer from General to restricted Building Fund during 2022 relates to restricted donations received in previous years but not recognised as restricted income.
15 Operating lease commitments
The charity has an operating lease for its church office. 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 Between one and five years After five years Payments falling due: |
2024 £ 3,542 - - 3,542 |
2023 £ - - - |
|---|---|---|
| - |
During the year the charity was charged £4,723 for its operating lease.
16 Transactions with related parties
During the year the charity:
a) received donations totalling £12,400 (2023: £11,030) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).
- b) No expenses (2023: £nil) were paid to, or for, the trustees.
During the year the charity also made the following payments to, or for, related parties:
a) Sonia Young, who is a trustee, received payments totalling £9,040 (2023: £9,011) for providing administrative services to the charity.
Page 14
NEW LIFE CHRISTIAN CENTRE INTERNATIONAL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES
FOR THE YEAR ENDED 31 MARCH 2024
| Note INCOME AND ENDOWMENTS FROM: Donations 3 Charitable activities 4 Investments 5 Other income 6 Total income and endowments EXPENDITURE ON: Charitable activities: 7 Total Expenditure Net income/(expenditure) Transfers between funds 14 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 14 |
General Designated 2024 2024 £ £ 217,472 - 6,925 - - - - - 224,397 - 199,995 - 199,995 - 24,402 - - - 24,402 - 25,500 - 49,902 - Unrestricted funds |
Restricted 2024 £ 8,284 - 5,238 - 13,522 - - 13,522 - 13,522 232,664 246,186 |
Total 2024 £ 225,756 6,925 5,238 - 237,918 199,995 199,995 37,923 - 37,923 258,165 296,088 |
General Designated 2023 2023 £ £ 186,983 - 4,226 - - - (4,960) - 186,249 - 180,377 - 180,377 - 5,872 - (31,393) - (25,521) - 51,021 - 25,500 - Unrestricted funds |
Restricted 2023 £ 9,885 - 1,122 - 11,006 15 15 10,991 31,393 42,384 190,280 232,664 |
Total 2023 £ 196,868 4,226 1,122 (4,960) 197,255 180,392 180,392 16,864 - 16,864 241,301 258,165 |
|||
|---|---|---|---|---|---|---|---|---|---|
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