# **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
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## **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.
- a) select suitable accounting policies and then apply them consistently;
- b) make judgements and estimates that are reasonable and prudent;
- c) State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts.
- d) Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
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:
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
• 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
- the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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 ASSETS**less 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.
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# **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**|
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## **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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