## **New Creation**
## **Scottish Charity No SC048800**
## **TRUSTEES ANNUAL REPORT AND ACCOUNTS**
**For the Year Ending 31[st ] October 2024**
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## **TABLE OF CONTENTS**
||**Page**|
|---|---|
|Reference and Administrative Details|3|
|Trustees Annual Report|4|
|Independent Examiner’s Report|8|
|Receipts and Payments Accounts|10|
|Statement of Balances|11|
|Notes to the Annual Accounts|12|
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## **REFERENCE AND ADMINISTARTION**
**Charity Name: New Creation Charity Registration Number: SC048800**
**Principal Office: Room 22, 54 Gordon Street, G1 3PU**
**Registered Office: Room 22, 54 Gordon Street, G1 3PU**
**Current Trustees:** Jenny Wong Rebecca Oluwaseun Alao Antoinette Shobana Premkumar **Trustees retired: N/A**
**Independent Accountant** : Ethnic Minority Resource Centre Suite 4.6, 4th Floor Standard Buildings 94 Hope Street Glasgow, G2 6PH
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## **Trustees’ Annual Report**
## **For the Year Ended 31[st ] October 2024**
The trustees have pleasure in presenting their report together with the financial statements and the independent examiner’s report for the year ended 31[st ] October 2024.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Constitution**
New Creation is a registered Scottish Charity (SC048800). All its affairs are governed by the Board of Trustees as stipulated in the charitiesMemorandum and Articles of Association, as well as the Charities Constitution.
## **Appointment of Trustees**
Trustee members are appointed by Annual General Meeting established by the constitution. An induction program for any new members takes place during the first week of September at which training, and governance support is given to ensure that Trustee members are familiar with the Charity's values, aims and responsibilities in their role as designated trustees of the charity.
## **Objectives and Activities**
## **The purpose of New Creation is** :
The advancement of education by: providing educational and vocational support to the Refugee, Asylum, BME and Migrant communities that can improve their integration, such as different levels of ESOL classes, skills enhancement classes, interview skills workshops etc. supporting parents of special needs children by providing training on how to support their children’s education from BME background, including but not limited to, partnering with NGOs such as Autistic Resource Centre and Home Start in delivering such training.
Coordinating the provision of health talks and well-being programs and services to the Refugee, Asylum, BME and Migrant communities to enhancetheir physical and spiritual well-being, including fitness classes.
The organization of recreational activities by: Providing facilitated access to recreational services to priority needs groups including women (esp. those under abuse), elderly, children, young people, people with special needs (autistic, ADHD, others affected by mental and physical illnesses) with BME
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background to improve their lives., which include but not limited to, providing interpreter to accompany their attendance at recreational services.
The advancement of community development by Serving as a hub for linking up the Refugee, Asylum, BME and Migrant communities with volunteering, internship or placement opportunities provided by SMEs, NGOs, enterprises etc.,
To enhance their employability and integration to the society. Helping unemployed and underemployed with BME background by providing advice and training to help them start new businesses, charities etc.
Providing outreach services such as exhibitions, conferences etc. to target communities that have high proportions of BME, Asylum Seekers and Refugees, and Migrants; a particular focus being areas of potential deprivation, breaking down barriers between communities through awareness raising programmes and anti-racist and anti-sectarian work, which include but not limited to, partnering with NGOs such as CRER (Coalition of Racial Equality and Rights) in organising seminars and programmes (e.g. Black historymonth).
Providing opportunities for cross-cultural contact for all communities living in the area, which include but not limited to, coffee drop-in sessions, International Fun Dayetc.
## **The main Activities and Achievements**
In the period from 1[st ] November 2023 to 31[st ] October 2024, we got the funding from the East Dunbartonshire Council and Corra Fund to launch afterschool homework clubs, arts and crafts activities, neurodiversity awareness courses and club activities for special needs children for ethnic minorities starting 2024. Over thirty people attended the various programmes online and face-to-face, followed by some face -to-face outreach activities in April 2024 to Jan 2025, such as barbecue and outings which attracted over 60 people.
## **Financial Review**
**The accounts** have been prepared on an accrual basis in compliance with the Financial Reporting Standard in the UK and the Republic of Ireland (FRS 102) (Charities SORP) and the Companies Act 2006. Hence the inclusion of accruals in accordance with the applicable Accounting Standards, Statement of Recommended Practice, Accounting Reporting by charities (SORP 2005) and applicable accounting standards and the charities Acts1993.
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**General review:** The major source of income was funding from East Dunbartonshire Council of GBP9,960. We also received GBP3,000 from Corra Fund in Dec 2023 and Aug 2024 to carry out afterschool homework clubs. Generally, the financial performance of the charity is solvent and healthy financial position.
## **The financial effect of significant events:**
There were no significant events during the financial period.
## **Investment policy & objectives set:**
The principal funding source of the charity are donations. The charity future objectives are to initiate many cash generating projects, running fund raising activities and continue to engage with the wider community by hosting community events. Now, there is no surplus cash investments or debt instruments.
## **Risk Management:**
It is considered by the Trustees that there is no foreseeable risk where New Creation is exposed. The Trustees meet monthly and constantly review any principal risks and uncertainties. A key element in the management of financial risk is a regular review of available funds to settle debts as they fall due. The charities financial system is adequate to ensure appropriate supervision. Nonfinancial risks such as health & safety and volunteer management are also reviewed monthly.
## **Charities Policy on Reserves:**
The Trustees ensure that the balance of the bank account is positive. Expenses are only paid if the bank account is in surplus, or on provisions of income.
## **Donated facilities and services:**
The Trustees have no plans for future significant outlay, and therefore believe there is no need to ring fence any funds.
## **Going Concern:**
As at the date of approval of this report, and the financial accounts, the Trustees have assessed that there is no uncertainty about the Charity’s ability to continue as a going concern.
## **Statement of disclosure of the Independent Examination.**
In so far as the Trustees are aware at the time of approving our Trustee’s annual report, there is no relevant information, being information needed by
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the Independent Examiner in connection with preparing their report, of which the Independent Examiner is unaware.
## **Future Plan:**
The charity may increase their involvement in the community. This would include organising more events and outreaches. This would be dependent on funding availability.
## **Factors likely to affect financial performance or position going forward:**
The Trustees believe that this report is a fair, balanced and an understandable review of the charity’s structure, legal purposes, objectives and activities, financial performance & financial position fit to meet the future plans.
## **Key management personnel remuneration**
There is not any remunerated staff member at the moment:
## **Trustees’ responsibilities in relation to the financial statements**
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year which give a true and fair view of the situation of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently.
- observe the methods and principles in the applicable Charities SORP.
- make judgements and estimates that are reasonable and prudent.
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply
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with the Charities and Trustee Investment (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006 (as amended), and the provisions of the charity constitution. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraudulent irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees on 10/07/2025 and signed on their behalf by:
Chairperson
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## **Independent Examiner’s Report**
## **For the Year Ended 31[st ] October 2024**
## Independent Examiner’s Report to the Trustees of New Creation.
I report on the financial statement of the charity for the year ended 31st October 2024, which are set out on pages 11 to 25.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 (“the 2005Act”) and the Charities Accounts (Scotland) Regulations 2006 (as amended) (“the 2006 Regulations”). The charity’s trustees consider that the audit requirement of Regulation 10(1) (d) of the 2006 Regulations does not apply. It is my responsibility to examine the accounts as required under section 449(1) (c) of the 2005 Act and to state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination is carried out in accordance with Regulation 11 of the 2006 Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, I do not express an audit opinion on the view given by the accounts.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention.
1. Which gives me reasonable cause to believe that in any material respect, the requirements: -
• To keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Regulations, and
- To prepare Accounts which accord with the accounting records and
- comply with Regulation 9 of the 2006 Regulations (as amended)
Have been met
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2. I would however recommend that the charity continue to maintain all accounting documents and records in accordance with the 2005 Act, and the accounts should comply with Regulation 9 of the 2006 Accounts Regulations (as amended).
Michael Angley Ogwuche
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## **Statement of Financial Activities**
## **For the 12 months ending 31[st ] October 2023**
||**Unrestricted**|
**Restricted**|**2024**|**2023**|**Further**|
|---|---|---|---|---|---|
||**funds**|**funds**|||**Details**|
||**£**|**£**|**£**|**£**||
|**Income & Endowments from:**||||||
|Donations & Legacies|0|0|0|0|3|
|Charitable Activities|0|15,520||11,307.7|4|
|Other Trading
Activities Investments|0|0|0||5|
|||||0||
|Other|0|0|0|0||
|**Total**|**0**|15,520||**11,307.7**||
|**Expenditure on:**||||||
|Raising Funds|0|0|0|0||
|Charitable Activities|0|7,539.26||6,063.85|6|
|Other|0|0|0|0||
|**Total**|**0**|**7,539.26**||**6,063.85**||
|Net gains/(losses) on investments||||||
|**Netincome/(expenditure)**|0|7,980.74||5,243.85||
|**Transfers between funds**||||||
|**Other**
**recognized**||||||
|**gains/(losses)**Gains/(losses) on||||||
|revaluation of fixed assets|0|0|0|0||
|Gains/(losses)
on
investment|0|0|0|0||
|Assets||||||
|Actuarial gains/(losses) on|0|0|0|0||
|defined benefit pension schemes|0|0|0|0||
|**Net movement in funds**|**0**|7,980.74||5,243.85||
|**Reconciliation of funds**||||||
|Total funds bought forward|0|6,086.85||843||
|**Total funds carried forward**|**0**|**14,067.59**||**6,086.85**||
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_The statement of financial activities includes all gains and losses in the year. All incoming resources, and resources expended derived from continuing activities._
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|**Balance Sheet**||||||
|---|---|---|---|---|---|
|**As at 31st October 2024**||||||
||||**2024**|**2023**||
|**Current Assets**||||||
|Debtors|||||9|
|Income accrued|||0|0||
|Cash at bank & in hand|||**14,067.59**|6,086.85||
|**Total Current Assets**|||**14,067.59**|6,086.85||
|**Liabilities**||||||
|Creditors falling due within|||0|0|10|
|one year||||||
|**Net Current assets**||**Net Current assets**|**14,067.59**|6,086.85||
|**Total**
**assets**|**less**|**current**|**14,067.59**|6,086.85||
|**liabilities**||||||
|**Net Assets**|||**14,067.59**|6,086.85||
|**The funds of the charity:**|**The funds of the charity:**||||**11**|
|General Reserve|||0|0||
|Unrestricted income funds|||0|0||
|Restricted income funds|||**14,067.59**|6,086.85||
|**Total Funds**|||**14,067.59**|6,086.85||
The notes at pages 14 to 17 form part of these accounts.
Approved by the trustees on 02nd July 2025 and signed on their behalf by:
**Chairperson**
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## **Statement of Cash Flows**
## **For year ending 31st October 2024**
|**2024**
**Cash flows from operating activities:**
_Net cash provided by (used in) operating activities_
7,980
**Cash flows from investing activities:**
Interest
0
**_Net cash provided by (used in) investing activities_**
**0**
**Cash flows from financing activities:**
Cash inflows from new Grant
0
**_Net cash provided by (used in) financing activities_**
**0**
Increase (decrease) in cash & cash equivalents in the year
7,980
Cash & cash equivalents at the beginning of the Year
6,687
14,667
**Total cash & cash equivalents at the end of the year**
**14,667**
**Reconciliation**
**of**
**net**
**income/(expenditure) to net cash flow**
**from operating activities.**
14,467
**Adjustments for:**
Depreciation charges
0
(Gains)/losses on investments
0
Dividends, interest & rent from investments
0
Loss/(profit) on sale of fixed assets
0
(Increase)/decrease in stocks
0
(Increase)/decrease in debtors
0
Increase/(decrease) in creditors
200
**_Net cash provided by (used in) operating activities_**
**14,667**
**Analysis of cash and cash equivalents**
Cash in Hand & Bank
14,667
Notice deposits (less than 3 months)
0
Overdraft facility repayable on demand
0
**Total cash and cash equivalents**
**14,667**|**2023**
**12**
5,243
0
**0**
0
**0**
5,243
1,444
6,687
**6,687**
6,487
0
0
0
0
0
0
200
**6,687**
6,687
0
0
**6,687**|
|---|---|
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## **Notes to the Statement of Financial Activities**
## **1. Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## _**a) Basis of preparation**_
The accounts (financial statements) have been prepared under the historical cost convention with items recognized at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. 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 (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006(as amended)
New Creation meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## _**b) Reconciliation with previous Generally Accepted Accounting Practice**_
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items were required.
## _**c) Preparation of the accounts on a going concern basis**_
The Trustees believe there is no foreseeable circumstance to restrict the Charity from continuing as a going concern.
## _**d) Income**_
Income is recognized when received. However, in accordance with FRS102, income is accrued if not received in the financial year commensurate with the activity of the charity.
## _**e) Interest receivable**_
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
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## _**f) Fund accounting**_
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charity’s work or for specific artistic projects being undertaken by the Charity.
## _**g) Expenditure and irrecoverable VAT**_
Expenditure is recognized once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
## _**h) Allocation of support costs**_
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include Backoffice costs, finance, personnel, payroll and governance costs which support the Charity's programs and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 7
## _**i) Tangible fixed assets**_
Individual fixed assets costing £1,000 or more are capitalized at cost and are depreciated over their estimated useful economic lives on a straight-line basis. There are no assets of the Charity to be depreciated. The land used by the Charity is leased from the local council
## _**j) Stock**_
Stock is included at the lower of cost or net realizable value. Donated items of stock are recognized at fair value which is the amount the charity would have been willing to pay for the items on the open market.
## _**k) Debtors**_
Trade and other debtors are recognized at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## _**l) Cash at bank and in hand**_
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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## _**m) Creditors and provisions**_
Creditors and provisions are recognized where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognized at their settlement amount after allowing for any tradediscounts due.
## _**n) Transition to FRS 102**_
No subsequent restatement of items has been required in making the transition to FRS 102. The transition date was 1[st ] March 2014. However, the Charity has changed from a “Receipts & Payments” basis to an “accruals” basis in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP [FRS 102]), and the Companies Act 2006.
## **2. Legal status of the Charity**
SELBL is a registered Scottish Charity (SC044067). All its affairs are governed by the Board of Trustees as stipulated in the charities Memorandum and Articles of Association, as well as the Charities Constitution.
|**3. Income from donations and legacies**|**2024**|**2023**|
|---|---|---|
|Impact Fund|560|0|
|East Dunbartonshire Council|9,960|0|
|Corra Fund|**5,000**|**0**|
New Creation is grateful to the charities who gave grant funding. In accordance with FRS102 and the Charities SORP (FRS102), the economic contribution of general volunteers is not recognized in the accounts.
## **4. Income from charitable activities**
|Donations
0
MembershipFees
0
Other general
**14,067.59**
**14,067.59**
**5. Investment Income**
Bank interest
0|0
0
11,307
**11,307**
0|
|---|---|
## **6. Analysis of expenditure on Charitable Activities**
.
|**Restricted**|||
|---|---|---|
|Training|0|0|
|Other|7,539.26|6,063.8|
||7,539.26|**6,063.8**|
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|**Unrestricted**|||
|---|---|---|
|General Expenses|0|0|
|**Total**|7,539.26|**6,063.8**|
|**7. Analysis of governance & support costs**|||
|Professional fees||200|
|200|||
|Salaries, wages & related costs|4,456.24|5,345|
|General office & general charity expenses|400|518.8|
|**8. Analysis of staff costs**|||
|Salaries & Wages|4,456.24|5,345|
The charity Trustees did not receive any benefits from employment. No charity trustee received payment for professional services nor had personal expenses reimbursed. There were no related party transactions. The charity does not operate a defined contribution pension scheme. Therefore, there is no pension cost charged for the period to represent contribution payable to the scheme.
## **9. Debtors**
|**9. Debtors**|||
|---|---|---|
|Other Debtors|0|0|
|**10. Liabilities: amounts falling due within a year.**|||
|Accrued expenses|200|200|
|**11. Funds of the charity**|||
|**_General Reserves (Accruals)_**|0|0|
|**Bank – Unrestricted**|0|0|
|**Bank – Restricted**|||
|Funder|14,667|6,687|
|Other|0||
||0|0|
|**Total of bank account**|14,667|**6,687**|
|Total funds of the charity|14,667|6,687|
|**12. Cash flows from operating activities**|||
|Net movement in funds|0|0|
|Bank|14,667|6,687|
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