Charity registration number SC030494 (Scotland)
Company registration number SC471285 (Scotland)
NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
R Campbell
D Johnson
Lewis Campbell
(Appointed 7 July 2022)
Alistair McKibben
(Appointed 7 July 2022)
Charity number (Scotland)
SC030494
Company number
SC471285
Registered office
11 Barclay Street
Stonehaven
Aberdeenshire
United Kingdom
AB39 2BJ
Independent examiner
Richard Stephenson CA ATT
Azets
37 Albyn Place
Aberdeen
United Kingdom
AB10 1JB
Bankers
Royal Bank of Scotland
40 Albyn Place
Aberdeen
United Kingdom
AB10 1YN
Solicitors
Ledingham Chalmers LLP
Johnstone House
52-54 Rose Street
Aberdeen
United Kingdom
AB10 1HA
NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
CONTENTS
Page
Directors' report
1 - 2
Statement of directors' responsibilities
3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 12
NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: 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)" (effective 1 January 2019).

Objectives, activities, and achievements

 

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the financial year ended 31 March 2023.

 

New Life is a Christian Organisation with a focus on meeting needs, transforming lives and restoring community; these are expressed in one or more of the following:

 

We have taken opportunity to serve and support a number of people in a variety of circumstances. These have included bereavement, unexpected job loss, alcoholism, loneliness, relationship troubles, sickness, family disputes, mental health, housing problems, and more. We've served and supported by providing practical help, emotional support, and most importantly spiritual direction and guidance.

Financial review, reserves policy, and donated services

 

The trustees monitor the reserves and future commitments to ensure a continuing ability to meet the charity's objectives. The charity ended the year with a slight deficit, but without any danger of compromising our reserves.

We aim to keep sufficient funds in reserve to meet regular commitments for a period of three months. Our policy is not to use bank overdraft facilities or any other form of debt.

We are grateful for time and energy given to the charity by volunteers.

Structure, governance and management

 

New Life (Aberdeen) is a charitable company limited by guarantee. It is governed by its constitution, and is under the control of the Board of Directors (the charity Trustees).

 

The directors who served during the year and up to the date of signature of the financial statements were:

 

Ikechukwu Ibekwe
(Resigned 7 July 2022)
David Drain
(Resigned 7 July 2022)
R Campbell
D Johnson
Lewis Campbell
(Appointed 7 July 2022)
Alistair McKibben
(Appointed 7 July 2022)
NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -

New trustees are recruited by the current trustees and appointed by special resolution in accordance with the articles of association. New trustees are advised of their repsonsibilities on appointment.

This trustees annual report was approved by the board of directors

R Campbell
Director
Dated: 5 October 2023
NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
STATEMENT OF DIRECTORS' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -

The directors, who also act as trustees for the charitable activities of New Life (Aberdeen), are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the directors to prepare financial statements for each financial 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, including the income and expenditure, of the charitable company for that 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;

 

- 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; and

 

- 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 Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and 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.

NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF NEW LIFE (ABERDEEN)
- 4 -

I report on the financial statements of the charity for the year ended 31 March 2023, which are set out on pages 5 to 12.

Respective responsibilities of directors and examiner

The charity’s directors, who also act as trustees for the charitable activities of New Life (Aberdeen), are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The directors consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the 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 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 financial statements.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

(ii)

to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Richard Stephenson CA ATT
On behalf of Azets Chartered Accountants
37 Albyn Place
Aberdeen
AB10 1JB
United Kingdom
Dated: 5 October 2023
NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
4
991
-
991
4,865
6,913
11,778
Other trading activities
5
-
-
-
3,786
1,838
5,624
Investments
6
7
-
7
1
-
1
Total income
998
-
998
8,652
8,751
17,403
Expenditure on:
Raising funds
7
-
-
-
393
-
393
Charitable activities
8
3,660
627
4,287
75,352
9,267
84,619
Other
13
13
-
13
255
-
255
Total expenditure
3,673
627
4,300
76,000
9,267
85,267
Net expenditure for the year/
Net movement in funds
(2,675)
(627)
(3,302)
(67,348)
(516)
(67,864)
Fund balances at 1 April 2022
6,077
627
6,704
73,425
1,143
74,568
Fund balances at 31 March 2023
3,402
-
3,402
6,077
627
6,704

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 6 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
5,052
8,058
Creditors: amounts falling due within one year
14
(1,650)
(1,354)
Net current assets
3,402
6,704
Income funds
Restricted funds
15
-
627
Unrestricted funds
3,402
6,077
3,402
6,704

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Directors on 5 October 2023
R Campbell
Trustee
Company Registration No. SC471285
NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
1
Accounting policies
Charity information

New Life (Aberdeen) is a private company limited by guarantee incorporated in Scotland. The registered office is 11 Barclay Street, Stonehaven, Aberdeenshire, AB39 2BJ, United Kingdom.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of property. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that, the charity has adequate resources to continue in operational existance for the foreseable future, thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

Income from charitable trading activities is accounted for when earned.

Investment income is accounted for when receivable.

NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 8 -
1.5
Expenditure

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:

 

expenditure on raising funds includes the costs of all fundraising activities, events,

non-charitable trading activities, and the sale of donated goods.

 

expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

 

other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

 

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.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

 

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Impairment of debtors

The charity makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

3
Limited by guarantee

New Life (Aberdeen) is a company limited by guarantee and not having a share capital.

The members' liability is limited by guarantee not exceeding £1 per member.

At 31 March 2023 there were 4 (2022 - 4) members.

NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
4
Donations and legacies
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
2023
2022
2022
2022
£
£
£
£
Donations and gifts
991
4,865
3,343
8,208
Donated goods and services
-
-
3,570
3,570
991
4,865
6,913
11,778
5
Other trading activities
Total
Unrestricted
Restricted
Total
funds
funds
2023
2022
2022
2022
£
£
£
£
Fundraising events
-
-
1,838
1,838

Rent

-
3,786
-
3,786
Other trading activities
-
3,786
1,838
5,624
6
Investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
7
1
NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
7
Raising funds
Total
Unrestricted
funds
2023
2022
£
£
Trading costs

Flat costs

-
393
-
393
8
Charitable activities

 

 

2023
2022
£
£
Depreciation and impairment
-
62

Insurance

308
538

Legal fees

790
1,812

Other office costs

85
230

Donations

1,000
76,766

Bank charges

4
51

Donated goods and services

-
3,570

Governance costs - accountancy fees

2,100
1,590
4,287
84,619
Analysis by fund
Unrestricted funds
3,660
75,352
Restricted funds
627
9,267
4,287
84,619
9
Net movement in funds
2023
2022
£
£
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets
-
62
NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 11 -
10
Independent examination fees

The analysis of independent examiners remuneration is as follows:

2023
2022
£
£
Independent examination of the financial statements
2,100
1,590
11
Directors
None of the directors (or any persons connected with them) received any remuneration or benefits from the charity during the year.
12
Employees
There were 0 employees in the current or prior year.
13
Other costs
Unrestricted
Unrestricted
funds
funds
2023
2022
Financing costs
-
213
Other expenditure
13
42
13
255
14
Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
1,650
1,354
15
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds
Balance at
1 April 2021
Incoming resources
Resources expended
Balance at
1 April 2022
Resources expended
Balance at
31 March 2023
£
£
£
£
£
£
Restricted funds
1,143
8,751
(9,267)
627
(627)
-

Restricted income funds are funds received as donations or grants for which specific purpose has been specified. These funds are spent on the specified projects on a timely basis.

NEW LIFE (ABERDEEN)
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
15
Restricted funds
(Continued)
- 12 -
16
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Fund balances at 31 March 2023 are represented by:
Current assets/(liabilities)
3,402
-
3,402
6,077
627
6,704
3,402
-
3,402
6,077
627
6,704
17
Related party transactions

During the year the trustees donated a total of £0 (2022: £636) to the Charity.

2023-03-312022-04-01falseCCH SoftwareiXBRL Review & Tag 2022.2SC4712852022-04-012023-03-31SC471285bus:Director32022-04-012023-03-31SC471285bus:Director42022-04-012023-03-31SC471285bus:Director52022-04-012023-03-31SC471285bus:Director62022-04-012023-03-31SC471285bus:Director12022-04-012023-03-31SC471285bus:Director22022-04-012023-03-31SC4712852023-03-31SC4712852022-03-31SC471285bus:FRS1022022-04-012023-03-31SC471285bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-31SC471285bus:IndependentExaminationCharity2022-04-012023-03-31SC471285bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP