Charity No. 1068899
Company No. 03502355
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Pages
Legal and Administrative Information
2
Report of the Directors
3-8
Independent Examiners' Report
9
Statement of Financial Activities
10-11
Balance Sheet
12
Notes forming part of the Financial Statements
13-20
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
DIRECTORS
Rev P C Weaver
E Lockwood
Rev N Weaver
R Atkinson
Mr X Lin
SECRETARY
H M S Weaver
REGISTERED OFFICE
The NSC Arena
4 Belton Road West Extension
Loughborough
Leicestershire
LE11 5XH
INDEPENDENT EXAMINERS
Rogers Spencer
Newstead House
Pelham Road
Nottingham
NG5 1AP
BANKERS
Barclays Bank PLC
3 Market Place
Loughborough
Leicestershire
LE11 3EA
SOLICITORS
Geldards LLP
No 1 Pride Park Place
Pride Park
Derby
DE24 8QR
3
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2021
The directors (who are also trustees) present their report and the financial statements of the charity for the year ended 31 December 2021. This report has been prepared under the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. In preparing the financial statements the directors have paid due regard to the Charity Commission guidance on public benefits reporting on what activities the charity has undertaken this year.
Principal activities
The principal activities of the Company are to advance the Christian faith and also promote general community activities and wellbeing.
ACHIEVEMENTS, PERFORMANCE AND THE FUTURE
General
We are pleased to report that 2021 was another busy if not hectic year in the life of the New Springs UK organisation. It was in fact a special year as we celebrated our 25th Anniversary. We need to place on record our deepest gratitude to Almighty God for His faithfulness to the New Springs organisation over the last quarter of a century. We are pleased to report that we believe the organisation as a whole has grown on a number of levels as this report will hopefully show. Our congregations have grown as has the infrastructure of the organisation.
The Trustees/Directors met 14 times via zoom each time for an hour including our Annual General Meeting.
Sunday Worship Services
Sunday services were conducted every Sunday in Loughborough, Stoke-on-Trent and Sunderland at the three New Springs church buildings. In total we held 165 Sunday services. Alongside these, midweek meetings on most nights of the week throughout the year. In the region of 475 plus evenings were taken up with small group gatherings across the three churches, each group having anything between six and twenty people in attendance.
Ongoing Mid-Week Activities
Furthermore, weekly drop in hubs/cafes in our three venues were opened for the general public to attend on a weekly basis at various times during the day time. These were well attended with up to seventy people from the various communities dropping in for tea or coffee, bacon rolls etc. These times present important opportunities for social engagement for many who struggle to make meaningful community connections.
Other activities included, regular men's breakfasts, youth activities, children led clubs, seniors' clubs, lunch time events.
Children and Schools
We also held large alternative Halloween light parties, and a number of messy church events and specials.
We are also pleased to report that our work with local schools expanded significantly in both Loughborough and Sunderland.
We are pleased to say we were able to deliver an event called ‘I'm home schooling, get me out of here!' This was designed to particularly support and assist parents who were thrown into home schooling because of the Covid Pandemic. We brought together 5 teaching specialists who are experts in their fields to advise how best to go about home teaching. This was extremely well attended as parents obviously battled with the teaching process while still having to conduct their own employment at home.
We were able to produce extensive packs for the parents as an ongoing tool and resource.
4
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2021
We were pleased to send all our young people to the national Christian ‘Limitless' youth event with several thousand young people in attendance.
Leadership Training
We were able to substantially invest into the development of our ministry/pastoral/leadership teams at New Springs. We financed their attendance at various theological conferences and leadership refresh training events. They also attended quite a number of community and charity leadership training and development seminars on such subjects as reviewing the health of an organisation, reaching communities, monitoring and evaluation, Trustee and Board support, etc.
Annual Ladies Conference
September saw us hosting our fourth annual National ‘SHE' Ladies Conference. The special guest speakers for the day were Helen Yousaf, Anita Williams and Pastor Ellen Lockwood. There were in the region of 120 ladies present who had travelled from various parts of the UK to be in attendance. I am pleased to report it was a great success.
Elim Summit
Most of the leaders from New Springs were able to attend the four-day national Elim Pentecostal Churches Annual Summit held in Harrogate Conference Centre in Yorkshire. Elim is our sister denomination and world-renowned Christian leaders were addressing the conference. There would have been over 2,000 delegates in attendance. Attending such conferences enables our team at New Springs to retreat and keep abreast of current Christian international trends and happenings as well as personally receive relevant teaching and ministry and inspiration. The ideal opportunity to refuel the soul.
National Alpha
The autumn also saw the New Springs churches take part in an online national Alpha programme over a number of weeks. It was hosted by the Elim Pentecostal Church movement Evangelistic Department and had 160 church congregations from around the country taking part. It was in fact the largest online Alpha that has ever taken place. I am pleased that we had a number of non-church visitors take part from our local communities.
One Church, One Voice.
We were able to host four special ‘One Church, One Voice' zoom evenings. This is when people from all three congregations come together online for a midweek corporate gathering. We are pleased to say several nationally well-known anointed speakers were able to address the gatherings. On each occasion there were close to 100 people in attendance. These evenings are particularly designed to bring a sense of unity and togetherness where the wider family of New Springs is concerned.
Leadership Matters
The New Springs congregational leaders also took part in the special Leadership Matters' evenings hosted by our sister denomination, the Elim Pentecostal Churches. They are designed for core leaders and trustees to be encouraged and taught on the importance of various aspects of ministry and leadership. There were four in total over the year.
Buildings and Fabric
During 2021 both the sites in Loughborough and Sunderland were engaged in substantial continued building and construction projects. The finance was raised for these building projects and the work will continue into 2022. The work undertaken on both sites will undoubtedly add to their overall market value. We give God the glory for His continued provision.
As Iron Sharpens Iron
5
Throughout the first six months of the year Pastor Nathan Weaver from our Sunderland Church continued with his Iron Sharpens Iron online monthly leadership series. He was able to pull together key, experienced, national Christian leaders, (both male and female) together to take part. They were interviewed and answered a series of relevant and key questions that were specifically designed to help and support those in Christian leadership. Between one and two thousand leaders logged on to these unique sessions (either via the live stream or on the various platforms on offer). The overall impact of
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2021
these sessions has been quite remarkable and we are finding that leaders are still logging onto the sessions.
The New Springs Radio Station
The New Springs online Radio Station broadcast 24/7 every day throughout 2021 with a mixture of live and recorded programmes. The radio has proved particularly beneficial when it comes to people from literally all around the world and of course across the UK listening in to our Sunday services which are broadcast live. Radio New Springs schedules programmes throughout the week that cater for all tastes and ages.
Other Activities
All three local churches in the New Springs stable hosted extensive Christmas and Easter programmes seeing significant numbers present at each of our seasonal activities, many from the unchurched community of the areas where we are located.
We were also able to produce a special forty-day video online Lent Course entitled ‘The Vanishing', which was based around the cross and resurrection of Jesus. It was well received each day with a good number logging on. It was an ideal way to celebrate lent in the lead up to Easter. We would like to place on record our gratitude for our audio-visual team and in particular Zach Weaver who filmed and edited all the sessions (40x15 minute video teaching clips).
We held both Mothers and Father's Day events.
We also hosted our 25th Anniversary Banquet. 140 were present on the evening and celebrity singer Ray Quinn was our special guest artiste for the evening.
We were able to pay for and give out a substantial number of Christmas hampers to needy families during the Christmas through the local schools we work in. All three New Springs churches did this, each hamper was worth between £80-£100. Throughout the year we also hosted and funded quite a number of seniors' meals and cabaret lunches. Attendance ranged from 20 to 150.
We also hosted Kerbside Carol events; and large firework displays.
Staff - Training and Development Ministry
November 2021 saw us take on a new staff member and create a new position. Rev Garry Miller joined the organisation to develop the whole training aspect of the New Springs ministry. Garry and his wife moved from the USA to join the team again. For the first five years of the life of New Springs Garry and Jeanann helped us to pioneer the work before moving back to the States.
The National Work and Network
As well as supporting the three New Springs congregations we will continue holding our Network of ministers and Christian leaders and business people. Support is given to leaders of various churches from various denominations through meeting in cluster groups or individually on a monthly basis. We will continue working in a consultative capacity.
The CEO of New Springs will continue assisting the Elim Pentecostal Churches of Great Britain (a sister organisation) to develop their national ECI Network. He has been involved in this work for the last four years. It is seen by the Directors and Trustees of New Springs as a strategic national involvement, as is his involvement in supporting Elim's Midlands and North Regional Leader and constituency.
He will also continue working as a Director/Trustee with The Freedom Trust based in Cumbernauld in Scotland which is also considered as a strategic role.
6
The CEO has also continued to minister at various conferences, churches and events up and down the British Isles.
Appreciation
We would like to place on record our deep gratitude to God for all the faithful people, trustees, ministry team, staff, volunteers, members and attenders who are a part of the New Springs organisation wherever they serve and for the faithful givers who enabled the ministry of New Springs UK to effectively operate in the way it did. Their loyalty was exceptional as we continued to re-emerge and bring stability
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2021
and growth after coming out of the lockdown pandemic which like everywhere else has brought its own challenges.
Looking Forward
We will continue conducting all the regular day to day and week to week church activities and broadcasting on Radio New Springs 24/7 every day of the year.
2022 will see New Springs UK launch a project that we have called AOK5000, where we will give away 5,000 winter hampers to families who find themselves in need commencing December 2022. These hampers will include both food and essential household items that will help the recipients get through what we believe will be a tough winter period economically for ordinary working families.
January 2022 will see us appoint on staff another Family Worker. We already have one in place in Sunderland and we will now be appointing one in Loughborough.
Summer 2022 will see us host our children's camp for two weeks at the end of July and the beginning of August. There will be 240 places available, and we have no doubt we will fill the camp to capacity.
September 2022 will see us hosting our fifth Annual Ladies She Conference. We are pleased to say national Christian speakers Cathy Madavan and Leanne Mallett have been invited to speak at the event and have graciously accepted our invitation.
Autumn 2022 will see well known national evangelist J John coming to New Springs to train us in outreach and evangelism as well as speaking at various events where he will be presenting the Gospel of the Lord Jesus Christ. Without doubt Canon J John is regarded as one of Britain's most prolific Christian communicators.
2022 will see the building and renovation projects both at the campuses in Loughborough and Sunderland continue. By the end of 2022 there should be a marked difference in how the buildings look.
The latter part of 2022 will see us working towards planting and establishing a further New Springs local church in the 90,000 populated town of Hartlepool in County Durham. It will be spearheaded by Rev Nathan Weaver and supported by the New Springs Sunderland church. Other locations for further New Springs churches will be identified during the next twelve months.
FINANCIAL REVIEW
At the end of the financial period the company held net assets of £893,924 comprising unrestricted funds of that sum. The directors are satisfied that sufficient funding will be available in the foreseeable future and accordingly present these financial statements on the going concern basis.
Reserves
The Directors have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves') held by the charity should be between 3 and 6 months of the resources expended, which equates to £60,000 to £120,000 in general funds. At this level, the Board feel that they would be able to continue the current activities of the charity in the event of a significant drop in income. At the balance sheet date the company held free reserves of £104,602, compared with £103,304 at the close of the previous accounting year.
7
Risk review
Significant external risks to income are continually reviewed to ensure that sufficient funds are in place. Internal risks are minimised by the implementation of procedures for authorisation of all transactions to
ensure consistent quality of delivery for all operational aspects of the charity. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2021
Directors
The directors who served during the year and up to the date of this report are as stated below:
Rev P C Weaver
Mr E Lockwood
Rev N Weaver
Mr R Atkinson
Mr X Lin
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution and governing document
The charity (Charity number 1068899) is a company (registration number 03052355) limited by guarantee. Its governing document is its Memorandum and Articles of Association and the directors are also trustees of the charity. Its registered office and principal place of operations is The NSC Arena, 4 Belton Road, Loughborough, Leicestershire LE11 5XH.
Members' guarantees
Members of the company guarantee to contribute an amount not exceeding £10 each to the assets of the company in the event of winding up. The total number of such guarantees at 31 December 2021 was 5 (2020 – 5).
Trustee recruitment, induction and training
New Springs UK carries out an annual skills audit of current Trustees which identifies knowledge gaps within the board and then actively takes steps to recruit Trustees accordingly.
New Directors will become familiar with the practical work of the charity after reading the Annual Report and will have received a copy of the Memorandum and Articles and the latest financial reports. They will also meet with the Chief Executive and existing Directors as well as being offered opportunities to visit with the staff team.
Additionally, Trustees are invited to attend induction training which covers the following areas:
The Policy and Practice Guide
Training and Support
Roles and Responsibilities
Knowledge
Communication
Best Practice Guides
All Directors are then signposted to any other relevant training throughout the year.
Pay policy for senior staff
The trustees consider the board of trustees and the senior management team comprise the key management personnel of the charity in charge of directing, controlling running and operating the charity on a day-to-day basis.
8
The pay of trustees and senior staff is reviewed annually and normally increased in accordance with average earnings. Trustee remuneration is permitted provided it is not paid to a majority of the trustees. In view of the nature of the charity, the trustees benchmark against pay levels in similar sectors.
9
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2021
Statement of directors' responsibilities
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations,
Law applicable to charities in England & Wales requires the directors to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable UK 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 operation.
The directors are responsible for keeping adequate accounting records that 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 Companies Act 2006. 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.
Approval
This report was approved by the board on
20 December 2022
20 December 2022
taking into account the exemption available to small companies.
Signed on behalf of the directors/trustees
Rev P C Weaver
CEO, Senior Leader
10
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2021 which are set out on pages 10 to 20.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1.
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2.
the accounts do not accord with those records; or
3.
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
4.
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Melvin Bailey FCCA DChA
Chartered Certified Accountants
Newstead House
Pelham Road
Nottingham
NG5 1AP
21 December 2022
11
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
(INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2021
Notes
Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
Total
2021
£
Total
2020
£
Income
Donations
2
371,138
-
371,138
329,409
Charitable activities
Church activities
48,309
-
48,309
24,585
Other
Grant – PACE
8,205
-
8,205
12,000
427,652
-
427,652
365,994
Other operating income
Coronavirus job retention
Total income
Expenditure
40,374
468,026
-
-
40,374
468,026
43,580
409,574
Charitable activities
Operation of New Springs UK
3
319,530
1,121
320,651
284,042
Governance costs
3
5,067
-
5,067
4,585
Total expenditure
324,597
1,121
325.718
288,627
Net income/(expenditure) and net movement in funds for the year
143,429
(1,121)
142,308
120,947
Net movement in funds
143,429
(1,121)
142,308
120,947
Reconciliation of funds
Total funds brought forward
750,495
1,121
751,616
630,669
Total funds carried forward
893,924
-
893,924
751,616
12
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
(INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2020
Notes
Unrestricted
Funds
2020
£
Restricted
Funds
2020
£
Total
2020
£
Income
Donations
2
329,409
-
329,409
Charitable activities
Church activities
24,585
-
24,585
Other
Grants
-
12,000
12,000
353,994
12,000
365,994
Other operating income
Coronavirus job retention
Total income
Expenditure
43,580
397,574
-
12,000
43,580
409,574
Charitable activities
Operation of New Springs UK
3
273,163
10,879
284,042
Governance costs
3
4,585
-
4,585
Total expenditure
277,748
10,879
288,627
Net income/(expenditure) and net movement in funds for the year
119,826
1,121
120,947
Net movement in funds
119,826
1,121
120,947
Reconciliation of funds
Total funds brought forward
630,669
-
630,669
Total funds carried forward
750,495
1,121
751,616
13
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET AS AT
31 DECEMBER 2021
31 December 2021
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible fixed assets
7
1,369,149
1,190,442
Current assets
Debtors
8
48,020
46,264
Cash at bank and in hand
77,726
150,849
125,746
197,113
Creditors falling due within one year
9
(21,144)
(22,498)
Net current assets
104,602
174,615
Total assets less current liabilities
1,473,750
1,365,057
Creditors falling due after more than one year
10
(579,827)
(613,441)
Net assets
893,924
751,616
Restricted funds
Unrestricted funds
893,924
750,495
Restricted funds
13
-
1,121
Total funds
893,924
751,616
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board on
20 December 2022
20 December 2022
and signed on its behalf by
…………………….
Rev P C Weaver Director
Registered Company No: 03502355
14
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
1.
Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
(a)
Basis of preparation
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £1.
(b)
Fund accounting
•
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.
•
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
(c)
Income recognition
All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
•
For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received.
•
Gifts in kind for distribution are included at valuation and recognised as income when they are distributed to the projects.
•
Gifts donated for resale are included as income when they are sold.
•
Donated facilities are included at the value of the Charity where this can be quantified and a third party is bearing the cost.
•
No amounts are included in the financial statements for services donated by volunteers.
• All grants and voluntary income are accounted for gross when receivable as long as they are capable of financial measurement.
Grants included for the purchase of fixed assets are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
15
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
1.
Accounting policies (continued)
(d)
Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
•
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
•
Governance costs represent those costs associated with meeting the constitutional and statutory requirements of the charity.
•
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
(e)
Tangible fixed assets and depreciation
Tangible fixed assets costing more than £1,000 are capitalised and included at cost including any incidental expenses of acquisition.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight-line basis over their expected useful economic lives as follows: -
Freehold buildings
One hundred years
Others
Five years
Depreciation on assets in the course of construction is applied once the asset is brought into use.
2. Donations
Unrestricted
funds
2021
£
Restricted
funds
2021
£
Total
2021
£
Total
2020
£
Tithes, offering and other donations
326,670
-
326,670
281,143
Gift aid receivable
44,468
-
44,468
48,266
371,138
-
371,138
329,409
3. Analysis of expenditure
Staff costs
£
Other
£
Total
2021
£
Total
2020
£
Charitable activities (3a.)
134,376
149,666
284,042
284,042
Governance costs (3b.)
-
4,585
4,585
4,585
134,376
154,251
288,627
288,627
16
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
3 (a 1). Charitable activities
Unrestricted
funds
£
Restricted
funds
£
Total
2021
£
Total
2020
£
Grants made to PACE
13,722
-
13,722
2,718
Ministry support and expenses
75,396
-
75,396
81,345
Staff salaries (note 6)
64,278
-
64,278
53,031
Charitable gifts
6,899
-
6,899
5,924
Premises and equipment costs
13,611
-
13,611
13,053
Management and administration
52,430
1,121
53,551
50,256
Events and activities
29,490
-
29,490
20,614
Mortgage interest
24,072
24,072
24,190
Depreciation
39,632
-
39,632
32,911
319,530
1,121
320,651
284,042
3 (a 2). Charitable activities
Unrestricted
funds
£
Restricted
funds
£
Total
2020
£
Grants made to PACE
2,718
-
2,718
Ministry support and expenses
81,345
-
81,345
Staff salaries (note 6)
53,031
-
53,031
Charitable gifts
5,924
-
5,924
Premises and equipment costs
13,053
-
13,053
Management and administration
39,377
10,879
50,256
Events and activities
20,614
-
20,614
Mortgage interest
24,190
24,190
Depreciation
32,911
-
32,911
273,163
10,879
284,042
3(b). Governance costs
Unrestricted
funds
£
Restricted
funds
£
Total
2021
£
Total
2020
£
Independent examiner's fee
5,067
-
5,067
4,585
17
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
4a. Allocation of the Charitable Activities
New Springs
Sunderland
£
New
Springs Loughborough
£
Total
2021
£
Total
2020
£
Income
Tithes and offerings and donations
56,985
269,685
326,670
281,144
Gift aid receivable
9,347
35,121
44,468
48,266
PACE recharges – van hire, etc.
-
25,762
25,762
-
PACE Camp recharges
-
10,615
10,615
-
Other church activities
9,340
10,797
20,137
24,584
Other - grants
-
-
-
12,000
Coronavirus job retention grant
14,750
25,624
40,374
43,580
Total Income
90,422
377,604
468,026
409,574
Expenditure
Grants paid
-
9,513
9,513
2,718
Ministry support & expenses
27,819
49,675
77,494
81,345
Staff salaries
10,512
53,765
64,277
53,031
Charitable gifts
3,333
3,438
6,771
5,924
Premises and equipment costs
4,706
8,905
13,611
13,053
Management and administration
18,127
35,424
53,551
50,256
Events and activities
520
31,209
31,729
20,614
Mortgage interest
-
24,073
24,073
24,190
Depreciation
6,867
32,765
39,632
32,911
Governance costs
-
5,067
5,067
4,585
71,884
253,834
325,718
288,627
Net movement in funds
18,538
123,770
142,308
120,947
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
18
NOTES TO THE FINANCIAL STATEMENTS
4b. Allocation of the Charitable Activities
New Springs
Sunderland
£
New
Springs Loughborough
£
Total
2020
£
Income
Tithes and offerings and donations
40,645
240,499
281,144
Gift aid receivable
7,500
40,766
48,266
Church activities
9,888
14,696
24,584
Other - grants
-
12,000
12,000
Coronavirus job retention grant
17,250
26,330
43,580
Total Income
75,283
334,291
409,574
Expenditure
Grants paid
2,718
-
2,718
Ministry support & expenses
32,568
48,777
81,345
Staff salaries
2,936
50,095
53,031
Charitable gifts
5,209
715
5,924
Premises and equipment costs
4,562
8,491
13,053
Management and administration
7,443
42,813
50,256
Events and activities
295
20,319
20,614
Mortgage interest
-
24,190
20,614
Depreciation
6,623
26,288
32,911
Governance costs
-
4,585
4,585
62,354
226,273
288,627
Net movement in funds
12,929
108,018
120,947
5. Net income for the year
Total
2021
£
Total
2020
£
The net income is stated after charging: -
Independent examiners fees
5,067
4,585
Depreciation
39,632
34,911
(Profit on disposal of van)
-
(2,000)
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
6. Staff costs and trustee remuneration
Total
2021
£
Total
2020
£
19
Wages and salaries
58,519
53,031
No employees received remuneration in excess of £60,000 per annum
The average number of employees was:
2021
2020
Direct charitable activities
5
5
Two trustees, who are also the key management personnel, received remuneration during the year as follows:
2021
2020
£
£
Rev P C Weaver – Support
42,846
43,933
Pension contribution
4,731
4,784
Rev N Weaver – salary
Pension contributions
30,000
3,578
30,000
2,568
81,155
81,345
7. Tangible fixed assets
Freehold
land and buildings #
£
Fixtures, fittings, plant & machinery
£
Total
£
Cost
At 01/01/2021
1,180,521
186,588
1,367,109
Additions
213,192
5,147
218,339
Disposals
-
-
-
At 31/12/2021
1,393,713
191,735
1,585,448
Depreciation
At 01/01/2021
24,921
151,746
176,667
On disposals
-
-
-
Charge for the year
12,637
26,995
39,632
At 31/12/2021
37,558
178,741
216,299
Net book value
At 31/12/2021
1,356,155
12,994
1,369,149
At 31/12/2020
1,155,600
34,842
1,190,442
# see notes 9 and 10
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
8.
Debtors
2021
£
2020
£
Income tax recoverable
44,468
42,712
Prepaid expenses
3,552
3,552
48,020
46,264
20
9. Creditors: amounts falling due within one year
2021
£
2020
£
Bank loan (secured – see note 10 below)
14,857
16,772
Accruals
4,712
4,151
Other creditors
1,575
1,575
21,144
22,498
10. Creditors: amounts falling due after more than one year
2021
£
2020
£
Loan (secured – see below)
579,827
613,441
The loan is secured on the freehold land and buildings. It is repayable by instalments over a period of 26 years, with £514,139 (2020: £559,482) falling due after more than five years.
11a. Analysis of net assets between
Funds - 2020
Tangible fixed
assets
£
Net current assets/ (liabilities)
£
Non-current assets/ (liabilities)
£
Total
£
Unrestricted funds
1,190,442
173,494
(613,441)
750,495
Restricted funds
-
1,121
-
1,121
1,190,442
174,615
(613,441)
751,616
11b. Analysis of net assets between funds – 2021 (all unrestricted)
1,369,149
104,602
(579,827) 893,924
12. Share capital
The company is limited by guarantee and therefore has no share capital. The directors of the company are considered to be members for Companies Act purposes and their liability is limited to £10 each.
NEW SPRINGS UK
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
13a. Restricted funds movements – year ended 31 December 2021
Incoming
Outgoing
Balance 31 Dec
£
£
£
National Lottery Community fund
1,121
(1,121)
-
21
National Lottery Coronavirus Community Support Fund provided a grant to provide support to individuals and families experiencing hardship as a result of the global pandemic, mainly providing food and other essentials. The brought forward balance of £1,121 was spent in the first quarter of 2021.
13b. Restricted funds movements – year ended 31 December 2020
Incoming
Outgoing
Balance 31 Dec
£
£
£
National Lottery Community fund
10,000
(8,879)
1,121
Samaritan's Purse
2,000
(2,000)
-
12,000
(10,879)
1,121
National Lottery Coronavirus Community Support Fund provided a grant to provide support to individuals and families experiencing hardship as a result of the global pandemic, mainly providing food and other essentials. The remaining balance of £1,121 was spent before the end of the first quarter of 2021.
Samaritan's Purse provided a grant of £2,000 towards the cost of providing community support, primarily through the provision of food and other essentials, in the early stages of the pandemic.
14. Related party transactions
All of the trustees/directors of the charity are also trustees/directors of Proactive Community Endeavours (PACE) a company that is limited by guarantee and is also a charity.
During the year PACE received grants and donations from New Springs UK totalling £13,722.
Within the year PACE paid £8,205 to New Springs UK in respect of refurbishment costs to their shared operating premises.
15. Control
The charity is under the control of the board of trustees/directors.
22
false
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