NEW COVENANT CHURCH MANCHESTER
To further Christian Faith and to alleviate poverty
Financial health, per its FY2024 accounts
The accounts state that total charitable expenditure was £418,022, funded by incoming resources of £470,437, resulting in a net income surplus of £79,018. However, the charity reports negative free reserves of £86,902 due to significant capital expenditures on property acquisitions during the year. The trustees confirm the charity remains financially viable and plan to rebuild reserves to meet their policy target over the next five years.
What the accounts disclose
“As at the year end, the charity had a negative free reserves.” — page 4
Property (HM Land Registry)
Trustees
- WILLIAM LIMENchair
- DAVID IFEZUE
- IDUMA DEVINE AKHIDIME
- Mary Iyabo Olojugba
- Sheila Afua Sakyibea Bekoe
- Uchechi Ezinwanne Ugwu
- WANIWA SUPANG
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £470k | £391k |
| 31/12/2023 | £362k | £328k |
| 31/12/2022 | £22k | £17k |
| 31/12/2021 | £15k | £6k |
| 31/12/2020 | £4k | £800 |
Common questions
Is NEW COVENANT CHURCH MANCHESTER financially healthy?
Per its FY2024 accounts: The accounts state that total charitable expenditure was £418,022, funded by incoming resources of £470,437, resulting in a net income surplus of £79,018. However, the charity reports negative free reserves of £86,902 due to significant capital expenditures on property acquisitions during the year. The trustees confirm the charity remains financially viable and plan to rebuild reserves to meet their policy target over the next five years. Its FY2024 accounts were independently examined.