New Covenant Church South Croydon
To advance Christian religion for public benefit.
Financial health, per its FY2024 accounts
The accounts state that the charity holds unrestricted reserves of £71,496 and total net assets of £765,866, which include a tangible fixed asset valued at £999,404. The trustees confirm that assets are adequate to fulfil obligations and report a retained surplus for the year, indicating stable financial health without stated policy targets for reserves.
What the accounts disclose
“Principal sources of income include regular donations by members of the church and attendees at our meetings through collections, direct bank transfer, standing orders, periodic fund raising, all by voluntary contributions.” — page 7
Trustees
- Basiratu Okuwachair
- KAREN DAVIDSON
- Moses Amire
- OLATUNDE OKORO
- SIMON AJAYI DR
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £153k | £120k |
| 31/12/2023 | £127k | £88k |
| 31/12/2022 | £153k | £53k |
| 31/12/2021 | £92k | £39k |
| 31/12/2020 | £99k | £31k |
Common questions
Is New Covenant Church South Croydon financially healthy?
Per its FY2024 accounts: The accounts state that the charity holds unrestricted reserves of £71,496 and total net assets of £765,866, which include a tangible fixed asset valued at £999,404. The trustees confirm that assets are adequate to fulfil obligations and report a retained surplus for the year, indicating stable financial health without stated policy targets for reserves. Its FY2024 accounts were independently examined.