## **North Derbyshire New Life Church** ## Annual Report Regarding the financial accounts of New Life Church for the year ending 31st July 2022 we can report a significant drop in income from £111,466 to £96,987 due mainly to the moving away of people who had always contributed generously and our Gift Aid claim being submitted later than usual. This later Gift Aid amount will be included in the next financial year. The income from tithes therefore dropped from £84,743 to £71,306 however it was encouraging to see that the offerings went up from £9,299 to £13,546. Gift Aid decreased from £17,263 to £9,394 mainly due to the late submission. As we go through the expenditure figures it is clear that costs have gone up as we came out of the pandemic and resumed payments for room hire for our meetings in three locations. Regarding the expenditure, once again the administration costs for the year were very low at £1,408 covering auditing, bank charges, printing, postage & stationary, while advertising was just £894. Room hire costs were back to normal as we recommenced in person meetings. They rose from £389 to £12,068 and mileage costs went up to £2,090 as normal life resumed with pastoral visits, conferences etc. There were no costs incurred in the categories of Church Family, Food and Catering expenses or Hospitality and teaching. Hospitality costs tend to be covered by the leaders themselves. Items for meetings shows an outlay of £1,127 which included cups, plates, coffee, juice and items for the Queen’s Jubilee. The categories that saw a drop in expenditure were Equipment, Gifts for the Needy, Music & Pastoral as these we invested in more heavily during the pandemic to help people in need and those seeking support to participate in our meetings. Our spending of £838 on equipment included a new projector for Alfreton and a laptop for Clay Cross. Pastoral costs were £1,160 spent on flowers, birthday cards, folding chairs and beds while £180 was given to help those in need. Outreach outgoings were £535 which includes ongoing monthly support of £40 to Chesterfield Street & School Pastors. We also provided prizes for the Clay Cross Gala. Ministry gifts remained at a similar level as we have not had any outside speakers. The amount of £6,100 is our tithe to Together Ministries and a small gift of £100 to another ministry. Together Ministries oversee and help a number of churches We invested £680 into children’s work for craft supplies, children’s presents and books, Easter eggs and our regular donation to MAST (Matlock & Area School Trust) who minister into local schools. The cost of Subscriptions was £677 which includes our giving to Alfreton Churches Together, Christians Together for Chesterfield and Zoom subscription. Regarding Relief and Oversees donations, we were delighted to give £2,396 which included a monthly gift to Compassion UK, Samaritan’s Purse and a gift of £2,000 for Ukraine. Another portion of expenditure is accounted for with the wages of four people who are involved in the equipping and discipleship of people across three congregations now in Chesterfield, Alfreton and Clay Cross. There are three leaders and a Pastoral/administrative P.A. The wages bill totalled £71,076 In summary, despite a reduction in income and increased outgoings we have been able to keep the church on a firm financial footing while still investing heavily in our primary purpose and having a healthy bank balance of around £44,908. We are aware that income was slightly lower than expenditure by £2,729 but that was not a problem due to the money we have in the bank. However, we are putting into place strategies to improve income and will seek to cut our cloth accordingly. We will continue to be wise in our spending whilst seeking to invest in our primary purpose. We are very grateful for the ongoing giving into the church which indicates that people are on board with our vision to show the love and kindness of God to so many people and in so many ways and help people live fulfilled and fruitful lives. D V Bunting North Derbyshire New Life Church North Derb Isf rthe e New LKe Church 22 Balance Sheet Notes 2022 2021 Current Assets Cash Held Current Account Deposit Account Debtors & Prepayments 42,305 2,603 49.732 2,602 13 Total Current Assets 44.908 52,334 Liabilities Creditors 14 Total Liabilities Total Net Assets 44,908 52,334 Represented by General Fund Brought forward Movement this year General Fund Total 52.334 17,4261 44,908 39,521 12,813 52.334 16 Restricted Fund$ Brought forward Movement this year Restrictgd Funds Total Total Funds 44,908 52.334 Signed on behalf of the trustee8 9th March 2023 Ire New Lif rch he ear to 31Jul 2022 Account ror statsment of Financial Activities Notes 2022 2021 Incoming ResouTce8 Earned Income Voluntary Income Restricted Fund Income 96,987 111,466 Total Incoming Resources 96,987 111,466 Resources Used Administration & Management Fundraising & Publicity Grants Restricted Fund Grants Towards our Primary Purpose 1,408 894 2,398 1,250 410 4,602 99,715 92,391 Total Resources Used 104,413 98,653 Net In¢oming l {Outgoing) of Rgsources 17,4261 12,813 Funds broijght forward UnFeslricled Restricted Total 52,334 39,521 52,334 39,521 Funds Carried Forward Unrestricted Restricted Total 44,908 52.334 44908 S2,334 Nort AC ntsforthe earto 31Jul 2022 Notes forming part of the financial ststements 1. Accounting Polfrcies al These accounts have been prepared in accordance wth Accounting and Reporting by Charities- Statem8nt of Recomrnended Pra¢ice ISORP FRS1021 and the Chatthes Act 2011. bl These a¢counls are PFepared on a Receipts and Payments basis. They give 8.true and fair virf of the stale ol affairs of the charity. cl Volvntary In￿me is recewed by way of donations and gifts from members ol the chur¢h and is Inoauded in full in the SOFA when ¥eceivable. The value of servi￿$ provided by volunteers has not bèen includÈd. dl Incoming resources Irorn the HMRC IGift Aid) are induded on th& SOFA upon receipt. 81 Benk deposlt Interest is included in the accounts when received. fj ReSour￿S expended arÈ reco9nised in the pgriod in which they are paid. gl Liabilities are rec¢gnSsed as soon as there is a legal or constructlve obligation committ*ng the ¢harity to the expenditure. hl Resource5 expended are allocated to the particul8r activty where the cost relates dI￿¢11Y to that activity. il The charity currendy has no fixed as$ets. Il UnrestriGted Funds are donations from the church rnernb8rs, and are gift-aid clairned on those donations, lor th8 objects of the charity without fijrther specified putposÈ and are £vailable as general funds. kl D&slgn8ted Funds are unrestricted funds earmarked by the trustees for particular purposes. 11 Restricted Fund5 are to be used for $pe¢ifi¢ purposes as laid down by the donor. Expendtture ￿th1¢h m&ets these criteria is charged to the fund ￿th a lair allocation of management and support ¢Dsts. 2022 2021 2. Eamed Ineome Indudes fees charged for conferences etc and other sundry items includirtg interest, 3. Voluntary Income Dot)ations Gift Aid Refunds Offerings rathe$ 8ank Interest Received 2,740 9,394 73,546 71,306 121 17,263 9,299 84,763 96.987 111,466 4. Re5trlcted Fund IncDme North Der AtCOUn h1￿ New LifE C earto 31Jul 2D22 2022 2021 6. Adminlstratlon & Manayetnent Auditing Bank Charges Church Office Printing, Postage, siath"onèry 140 38D 150 888 720 1,408 1,250 6. Fundralsing & Publiclty Advertising 894 410 894 410 7. Grants Relief& Developm&nt Overseas Grants 2,39$ 4,602 2,396 4,602 8. Restilcted Fund Grants The Umbrella Project 9. Towards our Prlmary Purpose AC￿mo(la￿.0n incl RoDrn Hire Church Family Equipment ood & Catering Gifts to the Needy Hospltality Insurance Items for meeb"ng5 Kids work LI￿nCe ileage Ministry Gift$ Music & Equipment OutlEach Pastoral Profe55ional Fees Repairs & Maintenan Safeguardlng Subscriptions Sundry Telephone Tead)Ing Wages Website & Internet 12,068 389 163 1,247 838 180 579 1,127 680 905 1,096 872 693 771 5.950 1.998 847 3,691 724 2.090 6,100 53S 1,160 129 677 129 652 1,050 1.004 71,076 648 69,6 951 99,715 92.391 l New Llfechvrch 2022 2021 10. Staff Costs and Nurnbers staff Salariès & Wages 71,076 69,69Q No employee received ernolurnents of more than £60,000 The nurnbers employed durtng the year, calculated on the Lias(s of fvll lime equivalents w85 as follow Ch￿r¢h Mini$lers Administrator 0.15 0.15 2.35 2.35 12. Trustees No trustee receives remuneration or any other benefits from the Charity for bein9 a trustee. The three church ministers, who are trustees. are paid according to the schedule outlined in note 8 above. 13. Debtors & Prepayrnents NIA 14. Creditors NIA 15. Insurdnce The Charity has adequate Public Liability Insurance. 16. Funds For operational purposes. the general fund5 are designated as follows. Tithe8 blfwd Movement 90,989 74.079 12311 16,91D 90.758 90,989 Offeriros bl￿d Movement 138,6551 134,5581 17,1951 14,0971 145,8501 138,6551 Total Carrled forward 44,908 52,334