## 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:
1. select suitable accounting policies and apply them consistently;
2. observe the methods and principles in the Charities SORP;
3. make judgements and estimates that are reasonable and prudent;
4. state whether the applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
5. 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:
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.
## 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.
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## **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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