NEW COVENANT CHURCH STRONGNATION STEVENAGE
Christian Religious organisation
Financial health, per its FY2025 accounts
The accounts state that the charity generated a surplus of £42,644 for the year ended 31 March 2025, with total incoming resources of £111,730 against charitable expenditure of £69,086. However, the balance sheet reveals a net current liability position of £170,385, driven by significant creditors, resulting in total unrestricted funds of £265,849.
What the accounts disclose
“Donations, tithe and gifts from members is the main source of income for the charity during the reporting period. We received £112k in income” — page 6
“The Trustees have established a policy whereby the unrestricted funds not committed or invested in intangible fixed assets (‘the free reserves’) held by the church should cover a quarter of our annual expenditure.” — page 6
Trustees
- OLUWAGBEMIGA BADEJOchair
- ABIOLA BANWO
- DR DANIEL OSIKOMINU MB, BS
- FEYISAYO ADESIGBIN
- OLUWASEGUN DAVID KONU
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £112k | £69k |
| 31/03/2024 | £57k | £32k |
| 31/03/2023 | £44k | £17k |
| 31/03/2022 | £47k | £20k |
| 31/03/2021 | £63k | £16k |
Common questions
Is NEW COVENANT CHURCH STRONGNATION STEVENAGE financially healthy?
Per its FY2025 accounts: The accounts state that the charity generated a surplus of £42,644 for the year ended 31 March 2025, with total incoming resources of £111,730 against charitable expenditure of £69,086. However, the balance sheet reveals a net current liability position of £170,385, driven by significant creditors, resulting in total unrestricted funds of £265,849. Its FY2025 accounts were independently examined.