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2023-08-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023

NEWDAY GENERATION UK

(A COMPANY LIMITED BY GUARANTEE)

CHARITY REGISTRATION No. 1203287 COMPANY REGISTRATION No:14676396

Independent Examiners Ltd

Unit 2, Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

1

NEWDAY GENERATION UK (A COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page 3 Legal & Administrative Information
Pages 4 - 5 Report of the Directors
Page 6 Independent Examiner's Report
Page 7 Statement of Financial Activities
Pages 8 Balance Sheet
Page 9 to 11 Notes to the Financial Statements

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NEWDAY GENERATION UK (A COMPANY LIMITED BY GUARANTEE)

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER 1203287 COMPANY REGISTRATION NUMBER 14676396 DATE OF INCORPORATION 20th February 2023 START OF FINANCIAL YEAR 20th February 2023 END OF FINANCIAL YEAR 31st August 2023 DIRECTORS ACTING DURING Hannah Schofield (Appointed 20th February 2023) THE FINANCIAL YEAR Adam James (Appointed 20th February 2023) Ben Rowe (Appointed 20th February 2023, Resigned 28th September 2023) Stuart Gibbs (Appointed 2nd August 2023) Richard Wightman (Appointed 2nd August 2023) Andrew Simpkins (Appointed 2nd August 2023) Phillip Gray (Appointed 2nd August 2023) Gareth Sims (Appointed 3rd January 2024)

GOVERNING DOCUMENT Articles of Association REGISTERED ADDRESS 21 Meadowcourt Road London England SE3 9DU BANKERS Virgin Money UK INDEPENDENT EXAMINER K Gomes Independent Examiners Ltd Unit 2, Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

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NEWDAY GENERATION UK (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST AUGUST 2023

7 Months Ended 31 August 2023

The Trustees, who are also the Directors, have pleasure in submitting the Report and Accounts for the year to 31 August 2023

Objectives and activities of the Charity

The charity's aims are to advance the Christian faith in the United Kingdom and in other parts of the world as may be appropriate. Newday Generation (“Newday”) exists to support Churches and other organisations in discipling the next generation. We do so by training and equipping those who work with young people including those that work for other charitable organisations and by putting on events for young people to attend which provide education based on the Christian faith and recreation.

Newday Festival

The largest and best know activity of the charity is putting on the annual Newday festival which is held at the Norfolk showground each year. The event takes place during July and August and lasts five days. The event is attended by approximately 8,600 people, including over 900 volunteers. In 2023 this event was part of the Clarendon Trust. Responsibility for the 2024 event was handed over to the Newday Generation UK. We will be running this festival moving forward.

Training and Equipping Youth Workers

One of the ways in which Newday aims to carry out its aims and objectives is to support and train those who work with Young People. Over the next 12 months were planning on running a number of events including a Youth Workers Retreat and a restarting of the “Yth Cltr” event which was last run in February 2020.

Grants

The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

Plans for the Future

The charity plans to undertake fundraising from the churches in the Newfrontiers network of churches to set up the charity and to give it sufficient working capital reserves to start its work. After the reporting year end the charity took on the running of the Newday Festival from the Clarendon Trust, and TUPEed over the one employee who is fully dedicated to running Newday. This transfer happened after the balance sheet date on 1st December.

The charity will continue running the festival and will be reintroducing the youth leaders events noted above.

Governance

The policy and operating decisions of the charity rest with the Directors who meet regularly to monitor the activities of the Company. The day to day operations of the charity are delegated to the Newday Executive team and the leadership teams with which they work. New trustees are agreed with the Newday Members.

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NEWDAY GENERATION UK (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS Continued

Financial Review

The Charity had income of £69,802 in the seven months ending August 2023. This was all from the offering which was held at the 2023 Festival. There were no significant costs incurred in the 7 months.

Reserves Policy

The Directors' aim is to maintain a reserve equivalent to 3 months of salary costs, plus an additional £25,000. At the year end the charity did not have any employees so the cash reserves required were £25,000.

The actual cash reserves at the year end were £48,767.

Directors Responsibilities

The trustees, who are also the directors of Newday Generation UK for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires us as Directors to prepare financial statements for each accounting year which give a true and fair view of the state of the charity and of its income and expenditure for the year.

We are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable us to ensure that the financial statements comply with the Companies Act 2006.

We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

I approve the attached statement of financial activities and balance sheet for the year ended 31st August 2023, and confirm that I have made available all information necessary for its preparation.

Approved by the Directors on the .................................................................

Signed on their behalf by Director .....................................................................

Print Name: Hannah Schofield

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INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

Report to the Trustees of NEWDAY GENERATUON UK on the accounts for the year ended 31st August 2023 as set out on pages 7 to 13.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity’s Trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or

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.

Signed :

Date : 14.5.24

Kim Gomes FCIE MAAT Independent Examiners Ltd Unit 2, Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

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NEWDAY GENERATION UK (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2023

(Incorporating Income and Expenditure Account)

Notes
INCOMING RESOURCES
Incoming Resources from Generated Funds
Donations & Legacies
3a
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Costs of Generating Funds
Charitable Activities
4a
Governance Costs
4b
TOTAL RESOURCES EXPENDED
NET INCOMING/ (OUTGOING) RESOURCES
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
TOTAL
Funds
Funds
2023
£
£
£
72
69,730
69,802
72
69,730
69,802
16
-
16
660
-
660
676
-
676
-604
69,730
69,126
-
-
-
604
-
69,730
69,126

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 9 to 11 form part of these financial statements.

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NEWDAY GENERATION UK (A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET

Registration Number 14676396 AS AT 31ST AUGUST 2023

Note
Fixed Assets
Tangible Assets
2
Current Assets
Debtors & Prepayments
6
Cash at Bank and in Hand
5
Total Current Assets
Creditors:amounts falling due within one year
7
NET CURRENT ASSETS
TOTAL ASSETSless current liabilities
NET ASSETS
Funds of the Charity
General Funds
Restricted Funds
Total Funds		 Unrestricted
Restricted
31-Aug-23
Funds
Funds
Total
£
£
£
-
-
-
-
22,392
22,392
56
48,711
48,767
56
71,103
71,159
660
1,373
2,033
604
-
69,730
69,126
604
-
69,730
69,126
604
-
69,730
69,126
604
-
-
604
-
-
69,730
69,730
604
-
69,730
69,126

For the financial year ending 31 August 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Directors on the ........................................................

Signed on their behalf by Director ......................................................................

Hannah Schofield Print Name:

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NEWDAY GENERATION UK (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023

1. ACCOUNTING POLICIES

Basis of Preparation & Assessment of Going Concern

Basis of Preparation

The accounts have been prepared on the going concern basis, as there are no material uncertainties about the charity’s ability to continue. Based on the adequacy of the charity’s reserves as at the balance sheet date, along with their knowledge of the charity’s ability to meet bills, payments and other liabilities as they fall due, the directors have a reasonable expectation that the charity has sufficient resources to continue in operational existence for the foreseeable future. The 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 (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.

Incoming Resources

Income

Donated income and grants receivable are taken into account when received by the charity. Income received in circumstances where a claim for repayment of tax has been or will be made to HM Revenue & Customs is grossed up for the tax recoverable. Any amount of tax reclaimed from HM Revenue & Customs but not yet received is shown within the charity's debtors. Investment income is taken into account when receivable.

Ticket Income in relation to Events is recognised when the event happens. Any cash taken for events which have not yet happened is recorded at deferred income and shown with the charity’s liabilities.

Expenditure

Expenditure, including irrecoverable VAT, is accounted for on an accruals basis when incurred by the charity regardless of when payment is made. Grants payable are taken into account at the earlier of when they are paid or become constructive obligations.

Funds

Unrestricted funds are donations and other income received or generated for the objects of the charity without specified purpose and are available for purposes as directed by the trustees. Restricted funds are amounts received where the donor has specified the purpose for which it should be used.

Fixed Assets and Depreciation

Fixed assets acquired for use by the charity are capitalised and depreciated over their estimated useful life unless they cost less than £2,000 when they are written off on purchase. Depreciation Periods: Equipment 3 – 7 Years

Pension Costs

The company operates a defined contribution scheme for certain of its employees. Pension premiums are charged as they fall due for payment.

Taxation

The company is a registered charity and is exempt from taxation under the Income & Corporation Taxes Acts.

Cash Flow Statement

The company has taken advantage of the exemption provided by the FRS 102 SORP and has not prepared a Cash Flow Statement for the year.

Financial Instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments and has no financial instruments measured at amortised cost. All financial instruments are measured at the cash or other consideration expected to be paid or received and have not been discounted.

9

NEWDAY GENERATION UK (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023

2. TANGIBLE FIXED ASSETS

The Charity held no tangible fixed assets during this period.

The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st August 2023 - None

3. INCOMING RESOURCES

a) Donations & Legacies
Gifts & Donations
Gift Aid
4. RESOURCES EXPENDED
a) Charitable Activities
Staff expenses
Trustee/Exec expenses
b) Governance Costs
Independent Examiners Fee		 Unrestricted
Restricted
TOTAL
Funds
Funds
2023
£
£
£
72
60,575
60,647
-
9,155
9,155
72
69,730
69,802
Unrestricted
Restricted
TOTAL
Funds
Funds
2023
£
£
£
2
-
2
14
-
14
16
-
16
660
-
660
660
-
660

10

NEWDAY GENERATION UK (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023

5. CASH AT BANK AND IN HAND

Virgin Money
6. DEBTORS AND PREPAYMENTS
Debtors Control Account		 Unrestricted
Restricted
Total
Fund
Fund
31-Aug-23
£
£
£
56
48,711
48,767
56
48,711
48,767
Unrestricted
Restricted
Total
Fund
Fund
31-Aug-23
£
£
£
-
22,392
22,392
-
22,392
22,392

7. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Deferred Income 2024
Independent Examiners Fees		 Unrestricted
Restricted
Total
Fund
Fund
31-Aug-23
£
£
£
-
1,373
1,373
660
-
660
660
1,373
2,033

8. STAFF COSTS AND NUMBERS

There were no staff costs during this period

9. DIRECTORS AND OTHER RELATED PARTIES

No payments were made to Directors or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.

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