2024-04-04-accounts - New Covenant Church Portsmouth

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NEW COVENANT CHURCH PORTSMOUTH

Registered Charity 1202780

PUBLIC BENEFIT REPORT

REPORT OF THE TRUSTEES FOR THE FINANCIAL YEAR ENDED 20 April 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, the 2023 Constitution.

Organisational structure

The Board of Trustees have been appointed promote the objectives of the charity. The Board of Trustees hold meetings throughout the year. They promote the policies, strategies and processes of implementation for the various programmes and projects geared towards achieving charitable objectives. Policies will be subjected to constant reviews to assess outcomes.

Risk management

The Trustees identify and review the risks to which the Charity is exposed and ensure that appropriate controls are in place to provide reasonable assurance against fraud and error.

OBJECTIVES AND ACTIVITIES

Constitution, Objectives, Aims and Organisation of the Work

The Objectives of the Church are set out in the Constitution of the Charity Commission Registration Document

1) Advancing the Christian Religion for public benefit,
2) Through Holding Prayer Meetings, Church Services, Lecture, Bible Studies.
3) Public Celebrations of Religious Festivals at Easter Christmas
4) Distributing Christian literatures.

Principal Activities

The Principal Activities of the charity are Christian worship and involvement of various ministries and ministers of religion in propagating the Christian religion to members (and non-members) who seek to learn and develop an understanding of the Gospel from the Holy Bible and the various meetings

provided by the Church. There is also an extension of the Christian religion through other community outreach programmes provided by the Charity.

Charitable Activities

The Trustees are pleased to report as follows :

PUBLIC BENEFIT

The Board of Trustees of the charity having due regard for reporting the public benefit provided by the charity in line with the Charities Act 2011, are pleased to report that the church continued its involvement with many community focused outreach programmes providing direct benefits for the public in their local community..

The Advancement of the Christian Religion

Place of Worship

The Charity, New Covenant Church Portsmouth has advanced the Christian Religion for public benefit, through the holding of weekly church services on Sundays. The principal teachings from the Bible. Teaching from both the Old and New Testaments. Much emphasis is placed on the Gospels. This is to enable the beneficiaries to get a good understanding of Christian teachings and principles.

Prayer Meetings

The Church held weekly prayer meetings virtually on Tuesday evenings from 7:00 pm to 7:30 pm via Zoom. The attendance was very encouraging, and the prayer meetings helped beneficiaries develop positive prayer lives.

Bible Studies

The Church held Bible Studies throughout the year via Zoom every Thursday evening from 7 p.m. to 8 p.m. These were well attended. The purpose was to provide beneficiaries with in-depth teaching of the scriptures, to further their understanding of Christian teachings and principles and build their faith.

Evangelism and Outreach

Evangelism

We met every week for Evangelism, to give out tracts and minister to members of the public who were willing to listen, and some shared the challenges they faced. They were prayed for, an offered advise.

Outreach Programmes

The charity held outreach programmes throughout the year during Christian Religious Festivals and during the summer. Take away meals and drinks were provided. The summer outreach programmes also provided counselling, distribution of the Magazine Titled: Hope. Beneficiaries were also provided with clothing from the Charity’s clothing stall held in the Place of Worship.

Outreach was also held during the Easter Celebrations. The Church provided in-house lunches at the church premises.

Youth Programmes

The church currently provides Christian teachings for the Youths, which were incorporated in the Sunday Services. Up to ten youths joined Services every Sunday, where they were taught Christian teachings and principles.

Pastoral Training

The Charity’s Pastoral Team attended Training. That was part of the provision agreed by Trustees to ensure the Charity’s team were equipped to deliver the objectives effectively.

Planning For 2024 – 2025

In planning for 2024 -2025, the Trustees and Pastoral Team agreed to:

Work in partnership with other Christian Organisations to advance the Christian Religion for Public Benefit.
To hold more Evangelism Outreaches to share the Gospels with more beneficiaries in the local community.
Plan to procure a Mini Bus to provide transport for beneficiaries who require such help to enable them to attend Church services.
To continue to provide practical support to beneficiaries, needing assistance, for example the homeless, low income or unemployed persons whom they will meet during outreaches.

…………………….

Names Of Board of Trustees

Dr. Babatunde Aderemi Olawoore

Mr. Peter Isioma Potoki

Mr. Opeyemi Kayode Akingbade

The Charity Registration Number is :- 1202780

New Covenant Church - Portsmouth

Report and Accounts

4 April 2024

New Covenant Church - Portsmouth

Trustees' Annual Report for the period from 20 April 2023 to 4 April 2024

The Trustees present their Report and Accounts for the period ended 4 April 2024.

Reference and administrative details

The charity name.

The legal name of the charity is:- New Covenant Church - Portsmouth.

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1202780.

The charity does not operate in any overseas jurisdictions.

The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales (CCEW) .

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.

The trustees are all individuals.

New Covenant Church - Portsmouth

Trustees' Annual Report for the period from 20 April 2023 to 4 April 2024

The principal operating address, telephone number, email and web addresses of the charity are:-

23 Queen Street Portsmouth, PO1 3HN

The Trustees in office on the date the report was approved were:-

Dr Babatunde Aderemi Olwoore ; Opeyemi Kayode Akingbade Peter Isioma Potoki

The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.

All the trustees are also members of the charity.

Financial review

The charity's financial position at the end of the period ended 4 April 2024

The financial position of the charity at 4 April 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Called up share capital Share premium account Designated Revenue Funds Designated Fixed Asset Funds *Total Unrestricted Funds* Restricted Revenue Funds Restricted Fixed Asset Funds *Total Restricted Funds* Total Funds Unrestricted Revenue Funds available for the general purposes of the charity Restricted revaluation reserve Net income Unrestricted revaluation reserve	2024 £ 13,089 - - 13,089 - - - 13,089 - - - - 13,089	2023 £ -
		-
		-
		- - - -
		-
		- - -
		-

		-

Financial review of the position at the reporting date, 4 April 2024 .

The trustees consider the financial performance by the charity during the year to have been satisfactory.

Details of The Independent Examiner

Theo Sehindemi

Member of Certified Accountants 148 Sandy Lane South Wallington Surrey SM6 9NR

New Covenant Church - Portsmouth

Trustees' Annual Report for the period from 20 April 2023 to 4 April 2024

Statement of Trustees' Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .

In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-

to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
select suitable accounting policies and apply them consistently;
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 charity will continue in business;
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

This report was approved by the board of trustees on 17 February 2025.

Babatunde Aderemi Olawoore Trustee

New Covenant Church - Portsmouth

Report of the Independent Accountant to the Trustees of the charity on the accounts for the period ended 4 April 2024

Respective responsibilities of the directors and the accountant

As described on page 9, you, the charity's Trustees are responsible for the preparation of the accounts.

The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. The Trustees also consider the charity to be exempt from the requirement to be subject to Independent Examination.

Our responsibility is to prepare accounts upon the basis of the information supplied to us, without conducting any formal scrutiny.

No statement of opinion

We have not carried out any audit procedures and have relied upon information supplied to us by the Trustees, and the information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently we do not express an audit or other assurance opinion on the view given by the accounts.

Signed:-

Theo Sehindemi - Independent Accountant

Certified Accountants

148 Sandy Lane South Wallington Surrey SM6 9NR

This report was signed on 17 February 2025

New Covenant Church - Portsmouth - Statement of Financial Activities for the period ended 4 April 2024

Statement of Financial Activities for the period ended 4 April 2024

Income & Endowments from: Donations & Legacies Charitable activities Other trading activities Investments Other Total income Expenditure on: Raising funds Charitable activities Other Tax on surplus on ordinary activities Other taxation Total expenditure Net gains on investments Net income for the year Transfers between funds Net income after transfers Other recognised gains/(losses) Extraordinary items Reconciliation of funds:- Total funds brought forward Total funds carried forward Net actuarial realised gains on defined pension benefit schemes Costs of fundamental reorganisation or restructuring Net gains on revaluation of fixed assets Net actuarial unrealised gains on defined pension benefit schemes Net movement in funds	Current year Unrestricted Funds 2024 £ 4,103 - - - - 4,103 - 440 - - - 440 - 3,663 9,426 13,089 - - - - - 13,089 - 13,089	Current year Restricted Funds 2024 £ - - - - - - - - - - - - - - - - - - - - - - - -	Current year Total Funds 2024 £ 4,103 - - - -
			4,103
			- 440 - - -
			440
			-
			3,663 9,426
			13,089 - - - - -
			13,089 -
			13,089

All activities derive from continuing operations

The notes attached on pages 19 to 20 form an integral part of these accounts.

New Covenant Church - Portsmouth - Statement of Financial Activities for the period ended 4 April 2024

New Covenant Church - Portsmouth - Statement of Financial Activities for the period ended 4 April 2024

Movements in funds

Movements in revenue and capital funds for the period from 20 April 2023 to 4 April

Revenue accumulated funds

Accumulated funds brought forward (From)/To unrestricted revenue funds Closing revenue funds Exceptional items Net actuarial realised gains on defined pension benefit schemes Costs of fundamental reorganisation or restructuring Recognised gains and losses before transfers	Unrestricted Funds 2024 £ - 3,663 3,663 9,426 - - - 13,089	Restricted Funds 2024 £ - - - - - - - -	Total Funds 2024 £ - 3,663 3,663 9,426 - - - 13,089
*Summary of Funds*
Summary of funds Unrestricted and Designated funds 2024 £ Share capital and share premium - Revenue accumulated funds 13,089 Revenue designated funds - Fixed asset funds - Revaluation reserve fund - Total funds 13,089		Restricted Funds 2024 £ - - - - - -	Total Funds 2024 £ - 13,089 - - - 13,089

New Covenant Church - Portsmouth - Statement of Financial Activities for the period ended 4 April 2024

Income and Expenditure account

New Covenant Church - Portsmouth

Income and Expenditure Account for the period from 20 April 2023 to 4 April 2024 as required by the Companies Act 2006

*Income* Income from operations Realised Gains on the disposal of investments Refunds from HMRC on gift aided donations Income from investments, other than interest receivable Interest receivable Other operating income Gross income in the period before exceptional items *Exceptional items:* Realised gains on disposals of tangible fixed assets held for the charity’s own use Realised gains on the disposal of intangible assets Realised net actuarial gains on defined benefit schemes Realised gains on disposals of social investments which are programme related Realised gains on disposals of heritage assets Spare heading for realised gains and losses- replace with text Gross income in the period including exceptional items *Expenditure* Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Fundraising costs Governance costs Other expenditure Total expenditure in the period Extraordinary items Tax on surplus on ordinary activities Gift Aid donations made Retained surplus for the financial year All activities derive from continuing operations Net income after tax in the financial year Net income before tax in the financial year Investment income	2024 £ 4,103 - - - - -
	4,103 - - - - - -
	4,103
	440 - - - -
	440
	-
	3,663 -
	3,663 -
	3,663

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

New Covenant Church - Portsmouth - Balance Sheet as at

Fixed assets Intangible assets Tangible assets Heritage assets Investments held as fixed assets Social investments Total fixed assets Current assets Stocks Debtors Investments held as current assets Cash at bank and in hand Total current assets Creditors: amounts falling due within one year Net current assets Creditors: amounts falling due after more than one year Provisions for contingent assets The total net assets of the charity *Net assets* Defined benefit pension scheme assets *Net assets*	- - - 13,089	2024 £ - - - - -
		- 13,089
	13,089 -

		- - -
		- -
		13,089

New Covenant Church - Portsmouth - Balance Sheet as at

The total net assets of the charity are funded by the funds of the charity, as follows:-

Restricted funds

Restricted Revenue Funds Restricted Fixed Asset Funds Restricted Revaluation Reserve Unrestricted Funds Called up share capital Share premium Unrestricted Revenue Funds Unrestricted Revaluation Reserve Designated Funds Designated Revenue Funds Designated Fixed Asset Funds Total charity funds	- - -	- 13,089 -
	- - 13,089 -
	- -

		13,089

The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.

The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

Babatunde Aderemi Olawoore

Trustee

Approved by the board of trustees on 17 February 2025