THE NEW LIFE IN CHRIST MINISTRY
Financial health, per its FY2024 accounts
The accounts state that the charity incurred a net deficit of £27,170 for the year ended 31 July 2024, resulting in total unrestricted reserves falling to £15,725. The trustees report that this level of reserves was below their stated policy target of maintaining three to six months' expenditure. The charity's gross income exceeded £250,000, yet the accounts were subject to independent examination rather than audit.
What the accounts disclose
“This level of reserves was not maintained throughout the year.” — page 4
Register events
- Received assets from another charity (14/01/2013)
Trustees
- MRS OLUWAKEMI ORE
- OLAYEMI OLUFISAYO JACOB
- OLUFEMI AWOMOLO
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/07/2025 | £371k | £373k |
| 31/07/2024 | £341k | £368k |
| 31/07/2023 | £339k | £265k |
| 31/07/2022 | £292k | £270k |
| 31/07/2021 | £172k | £209k |
Common questions
Is THE NEW LIFE IN CHRIST MINISTRY financially healthy?
The accounts state that the charity incurred a net deficit of £27,170 for the year ended 31 July 2024, resulting in total unrestricted reserves falling to £15,725. The trustees report that this level of reserves was below their stated policy target of maintaining three to six months' expenditure. The charity's gross income exceeded £250,000, yet the accounts were subject to independent examination rather than audit. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE SACHS FOUNDATION | 1 | £383k |