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← New Life Trust

2024-12-31-accounts

CHARITY REGISTRATION NUMBER: 516297

New Life Trust operating as Christchurch Trustees' Annual Report and Audited Financial Statements

31 December 2024

GORDON DOWN & PARTNERS

Statutory Auditor 144 Walter Road Swansea SA1 5RW

New Life Trust operating as Christchurch

Financial Statements

Year ended 31 December 2024

Page
Trustees' annual report 1
Independent auditor's report to the trustees of New Life Trust
operating as Christchurch 10
Statement of financial activities 14
Statement of financial position 15
Statement of cash flows 16
Notes to the financial statements 17
The following pages do not form part of the financial statements
Detailed statement of financial activities 31

New Life Trust operating as Christchurch

Trustees' Annual Report

Year ended 31 December 2024

The trustees present their report and the financial statements of the charity for the year ended 31 December 2024.

Reference and administrative details

Registered charity name New Life Trust operating as Christchurch Charity registration number 516297 Principal office BT Compound Malpas Road Newport NP20 5PP

The trustees

Mr P Greasley Mr D Reed (Resigned 19 January 2024) Mr R McCan Mr A Rees Mr A Woods Mr S Morris Auditor Gordon Down & Partners Statutory Auditor 144 Walter Road Swansea SA1 5RW Bankers Barclays Bank PLC 121 Queen Street Cardiff CF10 2XU

Structure, governance and management

Governing document

The Charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

The charitable trust was formed on 6 April 1984 and registered as a charity on 28 March 1985.

The trust is governed by its Trust Deed, which establishes the objects and powers of the charity.

Recruitment and appointment of new trustees

The Trust Deed provides for a minimum of three Trustees. Each Trustee must be appointed by a resolution of the Trustees passed at a special meeting.

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New Life Trust operating as Christchurch

Trustees' Annual Report (continued)

Year ended 31 December 2024

Structure, governance and management (continued)

Organisational Structure

The Charity controls a non-charitable subsidiary, Christchurch Conference Centre Limited, a company limited by guarantee, the activities and trading performance of which are discussed at page 8, and page 29 under note 25 to the accounts.

The charity is governed by its Trustees, who meet regularly to review reports presented to them by the administrative team which is entrusted with the implementation of the Trustees' decisions.

Induction and training of new trustees

The Trustees are responsible for the induction of any new Trustee. This involves making them aware of a Trustee's responsibilities and of the nature of the governing document and administrative procedures. A new Trustee would receive a copy of the charity's Trust Deed together with a copy of the charity's latest Annual Report and Accounts.

Key management remuneration

The Trustees are considered to be the key management personnel of the Charity. Details of payments to Trustees under contracts for services are disclosed in note 12 to the accounts.

The level of payments made to all key management personnel is reviewed annually by those Trustees who receive no payment from the church. In view of the nature of the church, the Trustees consider that payments to key management personnel should be bench-marked against salaries paid to teachers and others working in schools. It should be noted however, that payments to be made by the church are to be set at a discount against the remuneration of staff in the state education sector.

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New Life Trust operating as Christchurch

Trustees' Annual Report (continued)

Year ended 31 December 2024

Structure, governance and management (continued)

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Trustees have conducted their own review to identify the major risks to which the charity is exposed and, where at unacceptable levels, have taken steps to mitigate those risks. These procedures are periodically reviewed to ensure that they still meet the needs of the charity. The principal risks facing the charity and a summary of the key mitigation actions, are noted below.

Risks and mitigating actions

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New Life Trust operating as Christchurch

Trustees' Annual Report (continued)

Year ended 31 December 2024

Objectives and activities

a. Objectives of New Life Trust

The aims and objectives of New Life Trust are to promote the advancement of the Christian faith and the worship of God in the county of Gwent and elsewhere in accordance with our governing documents.

All activities carried out by the charity this year have furthered the work of the church.

b. Activities undertaken to achieve objectives

The principal objective of the church is to make Christ known to all. Telling people the good news of the gospel of Jesus Christ, discipling believers in their knowledge and love of God and training and equipping people to send them out with the message of the gospel both in our local community in Newport, South Wales as well as further afield is how we achieve this objective.

A continuing priority for New Life Trust is our Sunday meetings, gathering together as a church family to worship God and open up His word together, hearing the gospel preached and offered that all may come to a personal saving knowledge of Jesus Christ and learn more about him.

We invite and welcome in visitors and members of our local community who want to know more about the Christian faith both to our Sunday morning meetings as well as to various outreach events such as Christianity Explored courses, Eating after the Meetings, Mums and Toddlers groups and our Legacy group.

Community Life is an ongoing part of church life, encouraging members of the church in their relationship with Christ. It gives believers the opportunity for fellowship, discipleship and teaching as well as encouragement and support in a variety of forms from weekly community groups to bible studies and 1-2-1's. These all are geared to helping and support people grow in their knowledge of and love for God.

We have a very active youth ministry in the church, with two Teens groups meeting fortnightly (one for younger Teens and the other for older) and a kids club, EPIC, for children in years 3-6 running every other week. Alongside this, we have our weekly Christchurch Kids ministry on a Sunday morning which is provided for children from 6 months to 11 years old and the Landing which runs every other Sunday for 12-15 year olds.

The Newport Foodbank project is run by New Life Trust in partnership with Trussell Trust and is available to anyone in need of emergency food supplies in the Newport area via a referral system from local care professionals, housing associations and the council. Clients are invited in, offered a hot drink, the opportunity to talk and be signposted to further professional help to help them out of their crisis. They are also invited along to regular church events such as Wednesday Warm where there is an an opportunity to find out more about what we believe, share a warm meal and meet new people in a relaxed and friendly environment.

New Life Trust also runs Newport North Christians Against Poverty (CAP) Debt centre to Newport and the surrounding areas. CAP is a national charity providing free help to anyone in debt and money management courses. Our Debt Centre Manager works alongside volunteers in our church, local schools and support professionals to provide hope to those in our community in poverty and debt. During the process, clients are offered the opportunity to be prayed for and to find out more about the hope provided in the gospel. These clients are also invited to Wednesday Warm.

Through the work of the Foodbank and CAP, we meet many individuals who require emergency support. Our Mercy Multiplied Project accepts referrals from professionals in our community as well as

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New Life Trust operating as Christchurch

Trustees' Annual Report (continued)

Year ended 31 December 2024

referrals from those we come across in our other projects for small grants or assistance in purchasing specific necessities. This support comes from our own mercy budget as well as from the Acts 435 charity. Mercy Multiplied provides us with the opportunity to show people more of Christ by demonstrating a small amount of the immeasurable mercy and grace shown to us.

c. Grant Making

As in past years, the church has contributed financially to other ministries which hold to shared objectives. The Trustees approve of all grants made.

d. Volunteers

While employing a number of full and part time staff, the charity also has numerous volunteer helpers who are responsible for the support of many activities in the church. It is not possible to place a monetary value on the contributions made by volunteers nor are figures available that show how many hours of service they provide.

e. Main activities undertaken to further the charity's purposes for the public benefit When thinking about our activities for the year, the church has considered the Charity Commission's guidance on public benefit and in particular the specific guidance on charities for the advancement of religion.

No matter an individual's beliefs, background, lifestyle or personal history, New Life Trust endeavours to ensure the work we undertake is open to all.

Achievements and performance

A priority of New Life Trust is our Sunday morning meetings where the Bible is opened and taught weekly to believers and non-believers alike. Through 2024, we covered six sermon series with the longest of these being 'King David and His King' looking at parts of 1 and 2 Samuel from January to March and 'Romans VIII: No Condemnation. No Separation' later on in the year. Our regular attendance continued to be around 500 people including 150 children. Throughout the year, we've welcomed in around 20 20 visitors from some of our outreach programmes who have started attending regularly on a Sunday.

This year it has been our absolute delight to be able to baptise people who have come to have a personal faith in Jesus Christ and welcome in new members to our church family.

Christchurch Kids, our children's ministry, continued hosting worship mornings once per term with all of the children's ministry classes upstairs together throughout the Sunday meeting. This has been a time that all the children have really enjoyed where they have learnt new worship songs, heard a Bible story together and has encouraged friendships to form between different age groups. We have around 60 children attend these mornings regularly. On other Sunday's Christchurch Kids split into four classes and look at the Gospel Project Bible Studies as well as taking part in crafts, games and competitions.

The Bridge is a ministry run for Teens in years 7-9 to help young people learn how to follow preaching from the front.

EPIC is our kids club for years 3-6 ran every other week. Each week was themed and activities were organised by the team around this topic. This was attended by roughly 20 children who enjoyed fun, games, craft and a short Bible talk.

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New Life Trust operating as Christchurch

Trustees' Annual Report (continued)

Year ended 31 December 2024

Achievements and performance (continued)

We have two Teens groups, the first is Teens for those in years 7-11. This group met every fortnight and during the time there, the Teens heard testimonies from different church members, opened the Bible together, played games and spent time hanging out together. During September 2024, the Teens enjoyed a weekend away together with some of the Teens serving in the worship band, abseiling challenges, hikes and looking at who God is. Senior Teens is run for Teens in years 12 and 13. Senior Teens also meets every other week giving older Teens the chance to bring any questions they have about the Bible and spend time thinking through the answers. They've also enjoyed games nights and socials evenings.

Community Life continued and we rejoiced in seeing the first couple of our community groups start to multiply to allow for more people to be welcomed in. The groups have formed across Newport and Cardiff, allowing church members to meet frequently to eat, pray and encourage one another to live the way of Jesus. We also ran six Bible studies in 2024, two in Exodus, two in Genesis, one on the book of Daniel and an advent one on the first few chapters of Luke. These have seen around 60 people regularly attending and spending time delving deeper into God's word together.

Another area involved in Community Life at New Life Trust is our mums and toddlers groups. We run two groups, one on a Wednesday and one on a Friday. Our Wednesday group has a more outward focus and aims to connect with parents with toddlers in our local community to serve and support them. This is attended by roughly 15 parents. Our Friday group is a mums and toddlers Bible study group which aims to serve and encourage parents with the gospel as they raise their toddlers.

Legacy has continued to run throughout 2024, regularly seeing about 90 attendees each month. The group aims to connect with people over 60 in Newport who are lonely and would like to form new friendships. In the past year we've had some referrals from local charities such as Age Cymru and Newport City Council. A usual Legacy involves hearing from a guest speaker and sharing a free meal together. In the past year we've had a range of guest speakers/performers including a campfire jamboree with Cwm Gwyddon Explorer Scouts, a talk from Stephen Rowley, a performance from the Buskuleles and a visit from the RSPB. At every event, a short testimony is shared by members of the church about how they became a Christian. Those who have wanted to learn more have been invited to a daytime Bible study.

Wednesday Warm was set up as a warm hub for people who are isolated and lonely as well as for families who are struggling to feed themselves. Throughout the year, we saw a steady increase in the number of attendees, some linked to one of the local schools, others who we've met through our other mercy ministries work. We have around 40 people attending on a regular basis each week and have over 80 people registered. Wednesday Warm is a warm, welcoming and friendly community and many of these attendees regularly attend other church activities and join us on a Sunday.

The Christchurch Centre is also a Christians Against Poverty (CAP) Debt Centre for Newport North. CAP is a free service that aims to help those in poverty crisis to become debt free and get connected to their local church. We've continued to have one member of staff employed part time as our CAP Debt Centre Manager and they're supported by over 20 volunteers from our congregation. Their work involves visiting clients, advising them on how CAP can work with them and if accepted, helping them through the process of becoming debt free. During the process of working with our clients, we offer to pray with them and invite them along on a Sunday and to Wednesday Warm. We took 48 referrals this year and have seen a number of our clients become debt free and others on the journey to becoming debt free. Some of our clients have joined us on a Sunday morning. At the time of writing, our centre is managing £370k worth of debt.

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New Life Trust operating as Christchurch

Trustees' Annual Report (continued)

Year ended 31 December 2024

Achievements and performance (continued)

New Life Trust continued to run the Mercy Multiplied project alongside our outreach work this year. The project acted as an emergency fund to support individuals in crisis. Alongside the small grants, this project offered support and friendship to those most in need. In 2024, this project received at least 10 referrals from Health Visitors, the Child Protection Team, Schools and Social Services. Each referral was unique to the family or individual and support ranged from providing material goods (e.g. school uniforms, carpets, beds, mattresses) to offering friendship and care. We are so grateful to the team and all who give through the charity Acts 435 who have helped fund some of the goods as well as using our own mercy budget. We were also able to provide a number of Christmas hampers to people within the community.

New Life Trust has continued to work in partnership with Trussell Trust to run Newport Foodbank and help individuals and families in crisis through the provision of emergency food supplies. We work alongside partner agencies such as Pobl, the local mental health teams, Newport City Homes and Newport City Council to identify those in need and supply vouchers on a maximum of three vouchers permitted in six months ratio. This year, Foodbank continued with the system of allowing clients who have been referred for a food voucher from our partner agencies to come and collect at any point during our opening times. This has allowed for more opportunities to talk with our clients as they await their parcel. In order to better support our clients, we now have a member of the Citizens Advice Bureau team joining us for one day per week to offer advice on any benefits or housing issues our clients may have. We also invite them to Eating after the Meeting and Wednesday Warm at the church where meals are provided free of charge. In 2024, the Newport Foodbank project (which includes Foodbank Central, Christchurch Centre and Stowhill Park) fulfilled 2760 vouchers from agencies. These vouchers totaled to assisting 3839 adults and 1885 children. This project was supported by 35 volunteers who serve in many different roles every week.

One of the biggest projects the Trust participated in this year was the building of Brickworks Coffee Shop on site. This year saw the building project started and completed, with the coffee shop open Tuesday-Friday by the end of December 2024. The heart for this project was to create a space that could be used for ongoing discipleship and fellowship among our church family and newcomers, a way to invite the community into church and to continue our work in mercy ministries. The space has been enjoyed by many church members as a place for fellowship, including many mums after our toddlers group where the children have been able to play in the play area whilst parents have had a coffee. Monthly board games evenings have also started running in the coffee shop which has been a lovely way to see members of the community enjoying the space.

We have continued to enjoy using the Christchurch app to connect people into community groups, signpost them to further discipleship opportunities and update the church family on life at Christchurch through the calendar. The church continued through the BibleTogether reading plan on the app. The app was downloaded 454 times between January and December 2024.

The Trust provided finance for pastoral travels to serve and support churches and attend conferences in the UK.

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New Life Trust operating as Christchurch

Trustees' Annual Report (continued)

Year ended 31 December 2024

Achievements and performance (continued)

Trading subsidiary

The Charity operates a separate company, Christchurch Conference Centre Limited, for the purpose of processing the income generated by the hire of conference facilities and related services at the charity's premises to local businesses, public sector organisations and interest groups.

The company, which is limited by guarantee and controlled by the Trustees of New Life Trust, was set up in line with current Charity Commission guidance which states that a trading subsidiary must be used in order to remove any significant risk to the assets of the Charity which would arise if the charity were to carry on non-primary purpose trading itself.

For the year to 31 December 2024 the company has made rental and other payments to the Trust and is repaying a loan that the Trust made to it and upon which it is paying interest.

Financial review

Financial position

Total incoming resources for the year of £777,649 (2023 - £836,457) consists largely of donations received of £658,534 (2023 - £718,033) and tax refunds of £95,848 (2023 - £90,115). A significant proportion of the total expenditure of £854,834 (2023 - £839,836) related to ministry support and salaries, ministry expenses and grants to institutions and individuals.

Resources expended exceeded income by £77,185 (2023 resources expended exceeded income by £3,379).

The charity has sufficient funds to meet all its financial requirements. At 31 December 2024 the charity's funds totalled £1,477,333 (2023 - £1,554,518).

Reserves policy

The trustees have examined the level of reserves held at the year end in light of the main risks facing the organisation. A policy has been established to maintain sufficient free reserves equivalent to up to one month's operating costs where possible. This is estimated to be approximately £71,000.

The free reserves of the charity represent the funds that are freely available to spend. In calculating the free reserves, the trustees have deducted from the total of unrestricted funds any funds designated at the year end and the net book value of the freehold property and other tangible fixed assets as detailed in the accounts after adjusting for associated borrowing. At 31 December 2024 free reserves were £368,123 (2023 - £440,978) which is greater that the target set. No funds were designated at the year end (2023 - £nil).

The policy is reviewed by the trustees on an ongoing basis.

Going concern

Having considered budget and cash flow projections for the next twelve months and after making due allowance for contingencies identified, the Trustees are confident that the Trust will continue to meet its liabilities as they fall due for the foreseeable future and consider that there are no material uncertainties about the Trust's ability to continue as a going concern. It is therefore considered appropriate by the Trustees to prepare the financial statements on a going concern basis.

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New Life Trust operating as Christchurch

Trustees' Annual Report (continued)

Year ended 31 December 2024

Financial review (continued)

Future Plans

The church is committed to its objectives of advancing the Christian faith and the worship of God in the Newport region and elsewhere. Its Trustees believe that its existing activities continue to achieve these ends and consequently, no significant changes in activities are planned for the forthcoming year.

Trustees' responsibilities statement

The trustees 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).

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. 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' annual report was approved on 30 September 2025 and signed on behalf of the board of trustees by:

Mr P Greasley Trustee

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New Life Trust operating as Christchurch

Independent Auditor's Report to the Trustees of New Life Trust operating as Christchurch

Year ended 31 December 2024

Opinion

We have audited the financial statements of New Life Trust operating as Christchurch (the 'charity') for the year ended 31 December 2024 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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New Life Trust operating as Christchurch

Independent Auditor's Report to the Trustees of New Life Trust operating as Christchurch (continued)

Year ended 31 December 2024

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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New Life Trust operating as Christchurch

Independent Auditor's Report to the Trustees of New Life Trust operating as Christchurch (continued)

Year ended 31 December 2024

Auditor's responsibilities for the audit of the financial statements

We have been appointed under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our audit procedures were designed to respond to the identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements.

Our audit procedures included, but were not limited to:

 discussing with the trustees and management their policies and procedures regarding laws and regulations;

 addressing the risks of fraud through management override of controls by performing journal entry testing.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

 Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

 Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

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New Life Trust operating as Christchurch

Independent Auditor's Report to the Trustees of New Life Trust operating as Christchurch (continued)

Year ended 31 December 2024

 Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern.

 Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011 and regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Gordon Down & Partners is eligible for appointment as auditor of the charity by virtue of their eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Gordon Down & Partners Statutory Auditor 144 Walter Road Swansea SA1 5RW

30 September 2025

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New Life Trust operating as Christchurch

Statement of Financial Activities

Year ended 31 December 2024

2024 2023
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and grants 4 536,738 217,642 754,382 808,148
Other trading activities 5 4,214 – 4,214 5,184
Investment income 6 19,053 – 19,053 18,717
Other income 7 – – – 4,408
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total income 560,005 217,642 777,649 836,457
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Expenditure
Expenditure on charitable activities 8,9 641,972 212,860 854,834 839,836
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total expenditure 641,972 212,860 854,834 839,836
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net expenditure and net movement in
funds (81,967) 4,782 (77,185) (3,379)
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Reconciliation of funds
Total funds brought forward 1,406,062 148,456 1,554,518 1,557,897
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Total funds carried forward 1,324,095 153,238 1,477,333 1,554,518
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 17 to 29 form part of these financial statements.

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New Life Trust operating as Christchurch

Statement of Financial Position

31 December 2024

2024 2023
Note £ £
Fixed assets
Tangible fixed assets 14 986,928 1,012,024
Current assets
Stocks 15 17,891 6,176
Debtors 16 134,106 119,555
Cash at bank and in hand 413,302 463,207
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
565,299 588,938
Creditors: amounts falling due within one year 17 74,894 46,444
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net current assets 490,405 542,494
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Total assets less current liabilities 1,477,333 1,554,518
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
Funds of the charity
Restricted funds 153,238 148,456
Unrestricted funds 1,324,095 1,406,062
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Total charity funds 19 1,477,333 1,554,518
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶

These financial statements were approved by the board of trustees and authorised for issue on 30 September 2025, and are signed on behalf of the board by:

Mr P Greasley Trustee

The notes on pages 17 to 29 form part of these financial statements.

- 15 -

New Life Trust operating as Christchurch

Statement of Cash Flows

Year ended 31 December 2024

2024 2023
£ £
Cash flows from operating activities
Net expenditure (77,185) (3,379)
Adjustments for:
Depreciation of tangible fixed assets 33,311 34,197
Gift Aid, interest and rents from investments (12,103) (14,538)
Other interest receivable and similar income (6,950) (4,179)
Interest payable and similar charges 927 1,193
Changes in:
Stocks (11,715) 1,586
Trade and other debtors (14,551) 6,619
Trade and other creditors 28,450 4,702
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Cash generated from operations (59,816) 26,201
Interest paid (927) (1,193)
Interest received 6,950 4,179
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Net cash (used in)/from operating activities (53,793) 29,187
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Cash flows from investing activities
Gift Aid, interest and rents from investments 12,103 14,538
Purchase of tangible assets (15,405) (5,872)
Proceeds from sale of tangible assets 7,190 4
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Net cash from investing activities 3,888 8,670
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Net (decrease)/increase in cash and cash equivalents (49,905) 37,857
Cash and cash equivalents at beginning of year 463,207 425,350
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Cash and cash equivalents at end of year 413,302
৶৶৶৶৶৶৶৶৶		 463,207
৶৶৶৶৶৶৶৶৶

The notes on pages 17 to 29 form part of these financial statements.

- 16 -

New Life Trust operating as Christchurch

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is BT Compound, Malpas Road, Newport, NP20 5PP.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS102)) and the Charities Act of 2011.

The Trustees have opted to report expenditure using categories based on the nature of costs incurred rather than on an activity basis.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Taxation

The charity is treated as being exempt from tax on its charitable activities.

- 17 -

New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

- 18 -

New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Grants offered subject to conditions which have not yet been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The costs of minor additions or those costing below £500 are not capitalised.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 2% straight line Fixtures, fittings and equipment - 25% straight line Motor vehicles - 25% straight line

- 19 -

New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

- 20 -

New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Defined contribution plans (continued)

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Donations and grants

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Donations
Donations 443,402 21,022 464,425
Food Bank donations – 194,109 194,109
Gift Aid 93,336 2,511 95,848
Gift Aid donation from group undertaking – – –
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
536,738 217,642 754,382
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Donations
Donations 480,889 11,429 492,318
Food Bank donations – 213,215 213,215
Gift Aid 88,212 1,903 90,115
Gift Aid donation from group undertaking 12,500 – 12,500
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
581,601 226,547 808,148
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

Restricted income noted above consists of £21,022 given to the Mercy Fund with associated gift aid of £2,511 and £194,110 given to the Food Bank. A substantial proportion of Food Bank income is received in the form of food for distribution to beneficiaries of the scheme. No grants were received in the year or in 2023.

5. Other trading activities

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Fundraising events 4,214
৶৶৶৶৶৶৶		 4,214
৶৶৶৶৶৶৶		 5,184
৶৶৶৶৶৶৶		 5,184
৶৶৶৶৶৶৶

- 21 -

New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

6. Investment income

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Service charge - trading subsidiary 7,639 7,639 10,074 10,074
Phone mast income 4,464 4,464 4,464 4,464
Bank interest receivable 6,088 6,088 2,841 2,841
Other interest receivable 862 862 1,338 1,338
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
19,053 19,053 18,717 18,717
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

7. Other income

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Insurance claim – – 4,408 4,408
৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Advancement of the Christian faith 323,923 205,649 529,572
Support costs 318,049 7,211 325,262
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
641,972 212,860 854,834
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Advancement of the Christian faith 334,436 148,799 483,235
Support costs 295,181 61,420 356,601
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
629,617 210,219 839,836
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

8. Expenditure on charitable activities by fund type

9. Expenditure on charitable activities by activity type

Activities
undertaken Grant funding Total funds Total fund
directly of activities Support costs 2024 2023
£ £ £ £ £
Advancement of the
Christian faith 496,216 33,356 312,061 841,633 830,593
Governance costs – – 13,201 13,201 9,243
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
496,216 33,356 325,262 854,834 839,836
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

- 22 -

New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

10. Analysis of grants

2024 2023
£ £
Grants to institutions
CoMission UK – 5,342
The Church Office 1,000 1,000
ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
1,000 6,342
Grants to individuals
Grants to individuals 32,356 27,310
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total grants 33,356 33,652
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

Details of donations of food to individuals through the Newport Food Bank project are given under Charitable Activities at page 7 in the Trustees Annual Report and at note 19 to the Financial Statements on page 28.

11. Net expenditure

Net expenditure is stated after charging/(crediting):

Net expenditure is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible fixed assets 33,311
৶৶৶৶৶৶৶৶		 34,197
৶৶৶৶৶৶৶৶

12. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2024 2023
£ £
Wages and salaries 152,372 194,815
Social security costs 9,093 6,508
Employer contributions to pension plans 7,499 6,574
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
168,964 207,897
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

The average head count of employees during the year was 13 (2023: 12).

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

- 23 -

New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

13. Trustee remuneration and expenses

The Charity's Trust Deed makes provision for payments to be made to Trustees.

Ministry support of £245,182 (2023 - £236,152) contains support payments to two Trustees who devoted the majority of their time to the service of the church.

The Trustees receiving payments under contracts for services and the amounts paid are as follows:

2024 2023
£ £
P Greasley
Ministry support received 54,660 52,676
Donations made to New Life Trust (9,000) (9,000)
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
45,660 43,676
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
R McCan
Ministry support received 59,464 59,113
Donations made to New Life Trust (7,080) (6,745)
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
52,384 52,368
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

Donations made to New Life Trust

The aggregate value of unconditional donations made by the Trustees in the year to 31 December 2024 including those noted above was £42,280.

Trustees' expenses

There were no Trustees' expenses paid for the year ended 31 December 2024.

In many instances the Trustees act as agents for the Charity and make purchases on its behalf, using credit cards to meet the costs of travel or to purchase books or other items in the same way as other personnel of the Charity. Such expenditure is not related to the services provided as a Trustee.

- 24 -

New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

14. Tangible fixed assets

Freehold Fixtures and Motor
property fittings vehicles Total
£ £ £ £
Cost
At 1 Jan 2024 1,435,518 191,442 22,469 1,649,429
Additions 5,864 9,541 – 15,405
Disposals (9,938) (6,170) – (16,108)
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
At 31 Dec 2024 1,431,444 194,813 22,469 1,648,726
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
Depreciation
At 1 Jan 2024 442,525 172,413 22,467 637,405
Charge for the year 20,629 12,682 – 33,311
Disposals (2,761) (6,157) – (8,918)
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
At 31 Dec 2024 460,393 178,938 22,467 661,798
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
Carrying amount
At 31 Dec 2024 971,051 15,875 2 986,928
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
At 31 Dec 2023 992,993 19,029 2 1,012,024
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶

At the balance sheet date the Charity's property at Malpas Road, Newport was valued at £2,000,000, by the Trustees. This valuation is not reflected in these financial statements.

15. Stocks

2024 2023
£ £
Food Bank stock 17,891 6,176
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
16. Debtors
2024 2023
£ £
Amounts falling due within one year:
Tax reclaims on donations 40,607 37,403
Other debtors and prepayments 44,324 21,539
Amounts due from trading subsidiary 27,032 41,408
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
111,963 100,350
Amounts falling due after more than one year:
Amounts due from trading subsidiary 22,143 19,206
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Aggregate amounts 134,106 119,556
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

- 25 -

New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

17. Creditors: amounts falling due within one year

Other creditors

2024 2023
£ £
74,894 46,444
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

18. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £7,499 (2023: £6,574).

19. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At
At 1 Jan 2024 Income Expenditure 31 Dec 2024
£ £ £ £
General funds 1,406,062 560,005 (641,972) 1,324,095
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
At
At 1 Jan 2023 Income Expenditure 31 Dec 2023
£ £ £ £
General funds 1,425,769 609,910 (629,617) 1,406,062
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
Restricted funds
At
At 1 Jan 2024 Income Expenditure 31 Dec 2024
£ £ £ £
Mercy Fund 13,566 23,532 (22,766) 14,332
Newport Food Bank 88,058 194,110 (182,990) 99,178
People and Places 3 - The National
Lottery Community Fund 46,832 – (7,104) 39,728
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
148,456 217,642 (212,860) 153,238
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
At
At 1 Jan 2023 Income Expenditure 31 Dec 2023
£ £ £ £
Mercy Fund 17,649 13,332 (17,415) 13,566
Newport Food Bank 60,543 213,215 (185,700) 88,058
People and Places 3 - The National
Lottery Community Fund 53,936 – (7,104) 46,832
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
132,128 226,547 (210,219) 148,456
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

- 26 -

New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

19. Analysis of charitable funds (continued)

Mercy fund

The Mercy fund was set up to provide support for the current Mercy Ministry projects that New Life Trust is undertaking in Newport. These include CAP (Christians Against Poverty), Wednesday Warm and the Food Bank. It is anticipated that further Mercy projects will be started and supported by this fund. Donations received in the year and the associated Gift Aid receivable, totalled £23,533 (2023 - £13,332). At the year end funds of £14,332 were represented by a bank balance, a debtor and a creditor.

Newport Food Bank project

Prior to 2018 the church had assisted the Gaweda Trust to run a Food Bank for Newport. On 23 March 2018 the assets of the Gaweda Trust were transferred to the church which then agreed to run the Newport Food Bank in partnership with the Trussell Trust. Donations received in the year totalled £194,110 (2023 - £213,215). The majority of Food Bank income is received in the form of grants from the Trussell Trust and of food for distribution to beneficiaries of the scheme. Donated food is translated into monetary terms using figures provided by the Trussell Trust. During the year, the project fed 3,839 adults and 1,885 children. At the year end funds of £99,178 were represented by the net value of stock, a bank balance, fixed assets and creditors.

People and Places 3 - The National Lottery Community Fund

In 2022 the church received a People and Places 3 - National Lottery Community Fund grant of £62,223. This was used to purchase equipment and to fund building alterations in order to establish a Changing Places Suite at the Christchurch Centre. The Suite is now fully functional and has made the building accessible to all, young and old alike. The closing balance of the fund reflects the net book value of the asset.

20. Analysis of net assets between funds

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Tangible fixed assets 947,198 39,730 986,928
Current assets 431,742 133,557 565,299
Creditors less than 1 year (54,847) (20,047) (74,894)
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Net assets 1,324,093 153,240 1,477,333
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Tangible fixed assets 965,083 46,941 1,012,024
Current assets 474,256 114,682 588,938
Creditors less than 1 year (33,280) (13,164) (46,444)
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Net assets 1,406,059 148,459 1,554,518
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶

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New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

21. Analysis of changes in net debt

At
At 1 Jan 2024 Cash flows 31 Dec 2024
£ £ £
Cash at bank and in hand 463,207 (49,905) 413,302
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

22. Operating lease commitments

The total of future minimum lease payments under non-cancellable
operating leases fall due as follows: 31.12.2024 31.12.2023
£ £
Within one year 587 1,071

The total of operating lease payments recognised as an expense in the year to 31 December 2024 was £2,433 (2023 - £2,822).

23. Related parties

The following transactions took place between the Charity and its non-charitable trading subsidiary Christchurch Conference Centre Limited: -

During the year, Peter Greasley and Robert McCan, who are both Trustees of New Life Trust, incurred expenses as agents of the Charity relating to their work for the Charity. Such expenditure is not related to services they have provided to the Charity as Trustees and represents expenditure paid for by credit card to meet the costs of travel or to purchase books or other items when performing their duties in furtherance of the Charity's objects.

24. Donated services

Much of the work of the Charity is carried out voluntarily by its members. No adjustment has been made to the accounts for the estimated value of these services as the Trustees do not consider that any financial cost has been borne by any third party. The Trustees do not permit volunteers to work more than 25 hours per week for the Charity.

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New Life Trust operating as Christchurch

Notes to the Financial Statements (continued)

Year ended 31 December 2024

25. Subsidiary

The Trustees of New Life Trust exercise a dominant influence over Christchurch Conference Centre Limited, a company limited by guarantee which is considered to be a subsidiary of the Trust. The Charity has produced accounts which show only the affairs of the Charity as the group which it controls falls within the definition of a small group. Christchurch Conference Centre Limited reported a loss after taxation of £816 for the year (2023 - loss after taxation of £769). No Gift Aid payment was made to New Life Trust by the company for the year (2023 - £12,500). The company's net assets at 31 December 2024 totalled £37,388 (2023 - £38,204). No valuation has been placed on the company in the accounts of the Trust as no costs have been borne by the Trust in relation to it. Further details regarding the subsidiary are given above in the note on Related Party Disclosures.

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New Life Trust operating as Christchurch

Management Information

Year ended 31 December 2024

The following pages do not form part of the financial statements.

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New Life Trust operating as Christchurch

Detailed Statement of Financial Activities

Year ended 31 December 2024

2024 2023
£ £
Income and endowments
Donations and grants
Donations 464,425 492,318
Food Bank donations 194,109 213,215
Gift Aid 95,848 90,115
Gift Aid donation from group undertaking – 12,500
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
754,382 808,148
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Other trading activities
Fundraising events 4,214 5,184
ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
Investment income
Service charge - trading subsidiary 7,639 10,074
Phone mast income 4,464 4,464
Bank interest receivable 6,088 2,841
Other interest receivable 862 1,338
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
19,053 18,717
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Other income
Insurance claim – 4,408
ৄৄৄৄ ৄৄৄৄৄৄৄ
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total income 777,649 836,457
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

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New Life Trust operating as Christchurch

Detailed Statement of Financial Activities (continued)

Year ended 31 December 2024

2024 2023
£ £
Expenditure
Expenditure on charitable activities
Wages and salaries 152,372 194,815
Employer's NIC 9,093 6,508
Pension costs 7,499 6,574
Light and heat 19,337 22,937
Repairs and maintenance 27,992 18,250
Insurance 8,703 7,671
Motor vehicle expenses 5,458 3,935
Legal and professional fees 34,215 38,402
Telephone 12,421 10,130
Other office costs 25,533 34,369
Depreciation 33,310 34,196
Other interest payable and similar charges 927 1,193
Books & CDs 1,960 3,224
Evangelism 3,820 14,711
Grants to Institutions 1,000 6,342
Grants to Individuals 32,356 27,310
Food Bank expenditure 182,883 131,384
Household & cleaning 4,132 3,479
Loss on disposal of fixed assets 7,193 4
Church management & development 3,469 3,684
Catering 6,367 5,419
Childrens and Youth work 7,917 8,913
Church outings & activities 21,695 20,234
Ministry Support 245,182 236,152
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
854,834 839,836
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total expenditure 854,834 839,836
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net expenditure (77,185)
৶৶৶৶৶৶৶৶৶		 (3,379)
৶৶৶৶৶৶৶৶৶

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