Company registration number: 07121504 Charity registration number: 1134671 

## New Life Baptist Church Northallerton 

(A company limited by guarantee) 

Annual Report and Unaudited Financial Statements 

for the Year Ended 31 December 2020 



## **New Life Baptist Church Northallerton** 

## **Contents** 

|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Statement of Trustees' Responsibilities|5|
|Independent Examiner's Report|6 to 7|
|Statement of Financial Activities|8 to 9|
|Balance Sheet|10 to 11|
|Notes to the Financial Statements|12 to 26|





## **New Life Baptist Church Northallerton** 

## **Reference and Administrative Details** 

**Trustees** Mr R J Campbell Mrs D M Lucas Mr S S Cowie Mrs J M Swain Mr J L Hodgson Mr J H Smith **Other Officers** Mrs J E Henderson, Treasurer **Principal Office** 52-54 High Street Northallerton North Yorkshire DL7 8EG **Registered Office** New Life Baptist Church 52-54 High Street Northallerton North Yorkshire DL7 8EG The charity is incorporated in England and Wales. **Company Registration** 07121504 **Number** 

**Charity Registration Number** 1134671 

**Independent Examiner** Colin Hutson FCA Colin Hutson Accounting Limited Chartered Accountants 74 High Street Northallerton North Yorkshire DL7 8EG **Accountants** Colin Hutson Accounting Limited 74 High Street Northallerton North Yorkshire DL7 8EG 

Page 1 



## **New Life Baptist Church Northallerton** 

## **Trustees' Report** 

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2020. 

## **Objectives and activities** 

## _**Objects and aims**_ 

These continue to be the advancement of the Christian faith according to the principles of the Baptist denomination and the advancement of education community service and other charitable purposes in the United Kingdom and other parts of the world as the church shall determine. 

Our church vision focusses on the church's calling to be like Jesus at the heart of North Yorkshire, by putting into practice the biblical values of love, faith, and hope in our lives and community. 

## _**Objectives, strategies and activities**_ 

New Life Baptist Church is a lively and diverse church of over 200 people of all ages and backgrounds. We welcome anyone who would like to come along to any of our church services or midweek activities. We partner with the other churches in the town under the banner of One Northallerton, working together to welcome people in new housing to our town, support Syrian refugee families as they settle in Northallerton and establish a community hub in the town called The Living Rooms, which is a safe and welcoming place where 'it is ok not to be ok'. 

## _**Public benefit**_ 

The trustees have referred to the guidance contained in the Charity Commissions' general guidance on public benefit, when reviewing our aims and objectives and in planning future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives they have set. 

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. 

## **Achievements and performance** 

## _**Key non-financial performance indicators**_ 

We continue to welcome new families and individuals to the fellowship and our partners (church members) are very generous in their giving. 

The balance sheet remains healthy with total funds of £387,988 (2019 - £388,606) 

There has continued to be generous gifts for our support for communities in both Ghana and Romania. In addition the Jubilee Debt Advice Centre continues to be fully financed by generous donations and does not rely on funding from general church or missionary funds. The Northallerton Street Angels project is also fully financed by external funding and donations, such that it does not rely on any financial support from church funds. 

Page 2 



## **New Life Baptist Church Northallerton** 

## **Trustees' Report** 

## **Financial review** 

## _**Policy on reserves**_ 

Reserve funds are held to cover capital expenditure and future expansion of ministries. Included in our reserves is an amount which we intend to use for mission at home and abroad. 

The trustees consider that approximately three months of operating costs are required to be held as free cash which equates to £60,000, the actual free cash at the year end equate to £77,560 and are therefore broadly inline with the policy which has been set. 

## **Going concern** 

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. 

In response to the ongoing Covid situation the Trustees and Treasurer have closely monitored the church’s financial position. During the period March 2020 to September 2020, our income has fallen, but not enough to impact our financial viability. We decided not to participate in the government’s furlough scheme at this time as the church has sufficient reserves, and our staff were able to work from home. However, this will be subject to review as we pay close attention to the Covid situation and the need to plot the church's plans to respond. Given the ongoing uncertainty, we will continue to monitor our income and adjust our expenditure accordingly. 

## **Structure, governance and management** 

## _**Nature of governing document**_ 

The charity is registered as a charitable company limited by guarantee, incorporated on 11 January 2010. It was registered as a charity on 5 March 2010. 

The principal object of the charity is to the advancement of the Christian faith according to the principles of the Baptist denomination to include the advancement of education, community service and other general charitable purposes in such parts of the United Kingdom and the world as the Church shall determine. 

## _**Recruitment and appointment of trustees**_ 

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. 

Page 3 



## **New Life Baptist Church Northallerton** 

## **Trustees' Report** 

## _**Organisational structure**_ 

Partners of the church are accepted in accordance with the constitution on the profession of faith in Jesus Christ. 

The partners meeting normally takes place three times per year and has responsibility for agreeing the overall policy of the church. In accordance with the constitution, the partners appoint trustees, who together with the Senior Pastor (who is also appointed by the partners), are collectively known as the eldership. The eldership in conjunction with the treasurer (who is appointed by the partners) are responsible for the day to day running of the church's work and witness the financial and legal aspects of the charity. All partners are encouraged to take part in the spiritual and practical tasks involved in the furtherance of the charitable objective. 

Relevant matters may be submitted to the church meeting by the trustees for guidance, or may be raised by partners in the church meeting for further consideration by the trustees. Though the constitution permits decisions to be made at church meetings by appropriate majorities, the church seeks to work by consensus wherever possible. 

## **Financial instruments** 

## _**Objectives and policies**_ 

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. 

The annual report was approved by the trustees of the charity on 15 September 2021 and signed on its behalf by: 

......................................... Mr S S Cowie Trustee 

Page 4 



## **New Life Baptist Church Northallerton** 

## **Statement of Trustees' Responsibilities** 

The trustees (who are also the directors of New Life Baptist Church Northallerton for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. 

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and 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 charitable company will continue in business. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by the trustees of the charity on 15 September 2021 and signed on its behalf by: 

......................................... Mr S S Cowie Trustee 

Page 5 



## **New Life Baptist Church Northallerton** 

## **Independent Examiner's Report to the trustees of New Life Baptist Church Northallerton** 

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on pages 8 to 26. 

## **Respective responsibilities of trustees and examiner** 

As the charity’s trustees of New Life Baptist Church Northallerton (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). 

Having satisfied myself that the accounts of New Life Baptist Church Northallerton are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

Page 6 



## **New Life Baptist Church Northallerton** 

## **Independent Examiner's Report to the trustees of New Life Baptist Church Northallerton** 

## **Independent examiner’s statement** 

Since New Life Baptist Church Northallerton's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of New Life Baptist Church Northallerton as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

...................................... Colin Hutson FCA Chartered Accountant ICAEW 

74 High Street Northallerton North Yorkshire DL7 8EG 

15 September 2021 

Page 7 



## **New Life Baptist Church Northallerton** 

## **Statement of Financial Activities for the Year Ended 31 December 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** 

## **2020: Current period** 

|**2020: Current period**|||||||
|---|---|---|---|---|---|---|
|||||||**Total**|
|||**Unrestricted**||**Restricted**||**2020**|
||**Note**|**£**||**£**||**£**|
|**Income and Endowments from:**|||||||
|Donations and legacies|3|264,042||48,949||312,991|
|Investment income|4|71||-||71|
|Other income|5|2,101||-||2,101|
|Total Income||266,214||48,949||315,163|
|**Expenditure on:**|||||||
|Charitable activities|6|(249,565)||(56,779)||(306,344)|
|Other expenditure|7|(4,145)||(5,304)||(9,449)|
|Total Expenditure||(253,710)||(62,083)||(315,793)|
|Net income/(expenditure)||12,504||(13,134)||(630)|
|Net movement in funds||12,504||(13,134)||(630)|
|**Reconciliation of funds**|||||||
|Total funds brought forward||217,679||170,927||388,606|
|Total funds carried forward|19|230,183||157,793||387,976|



The notes on pages 12 to 26 form an integral part of these financial statements. Page 8 



## **New Life Baptist Church Northallerton** 

## **Statement of Financial Activities for the Year Ended 31 December 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** 

## **2019: Comparative period** 

|**2019: Comparative period**|||||||
|---|---|---|---|---|---|---|
|||**Unrestricted**||**Restricted**||**Total**|
|||**funds**||**funds**||**2019**|
||**Note**|**£**||**£**||**£**|
|**Income and Endowments from:**|||||||
|Donations and legacies|3|271,778||41,821||313,599|
|Investment income|4|146||-||146|
|Other income|5|2,413||-||2,413|
|Total income||274,337||41,821||316,158|
|**Expenditure on:**|||||||
|Charitable activities|6|(263,682)||(50,656)||(314,338)|
|Other expenditure|7|(4,312)||(5,323)||(9,635)|
|Total expenditure||(267,994)||(55,979)||(323,973)|
|Net income/(expenditure)||6,343||(14,158)||(7,815)|
|Net movement in funds||6,343||(14,158)||(7,815)|
|**Reconciliation of funds**|||||||
|Total funds brought forward||211,336||185,085||396,421|
|Total funds carried forward|19|217,679||170,927||388,606|



All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 19. 

The notes on pages 12 to 26 form an integral part of these financial statements. Page 9 



## **New Life Baptist Church Northallerton** 

## **(Registration number: 07121504) Balance Sheet as at 31 December 2020** 

|||**2020**||**2019**|
|---|---|---|---|---|
||**Note**|**£**||**£**|
|**Fixed assets**|||||
|Tangible assets|14|273,851||281,801|
|**Current assets**|||||
|Debtors|15|15,216||13,344|
|Cash at bank and in hand|16|101,751||99,798|
|||116,967||113,142|
|**Creditors: Amounts falling due within one year**|17|(2,842)||(6,337)|
|**Net current assets**||114,125||106,805|
|**Net assets**||387,976||388,606|
|**Funds of the charity:**|||||
|**Restricted**||157,793||170,927|
|**Unrestricted income funds**|||||
|Unrestricted||230,183||217,679|
|**Total funds**|19|387,976||388,606|



For the financial year ending 31 December 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

Directors' responsibilities: 

- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and 

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 

The notes on pages 12 to 26 form an integral part of these financial statements. Page 10 



## **New Life Baptist Church Northallerton** 

## **(Registration number: 07121504) Balance Sheet as at 31 December 2020** 

The financial statements on pages 8 to 26 were approved by the trustees, and authorised for issue on 15 September 2021 and signed on their behalf by: 

......................................... Mrs J E Henderson Treasurer 

......................................... Mr J H Smith Trustee 

The notes on pages 12 to 26 form an integral part of these financial statements. Page 11 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **1 Charity status** 

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 

The address of its registered office is: New Life Baptist Church 52-54 High Street Northallerton North Yorkshire DL7 8EG 

These financial statements were authorised for issue by the trustees on 15 September 2021. 

## **2 Accounting policies** 

## **Summary of significant accounting policies and key accounting estimates** 

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 

## **Statement of compliance** 

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011. 

## **Basis of preparation** 

New Life Baptist Church Northallerton meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

## **Going concern** 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. 

## **Exemption from preparing a cash flow statement** 

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. 

Page 12 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **Income and endowments** 

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. 

## _**Donations and legacies**_ 

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. 

## _**Investment income**_ 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank. 

## **Expenditure** 

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. 

## _**Charitable activities**_ 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

## **Support costs** 

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. 

## **Governance costs** 

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and trustees’s meetings and reimbursed expenses. 

Page 13 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **Taxation** 

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## **Tangible fixed assets** 

Individual fixed assets costing £100 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

## **Depreciation and amortisation** 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: 

|**Asset class**|**Depreciation method and rate**|
|---|---|
|Freehold property|2% straight line|
|Motor vehicles|25% reducing balance|
|Fixtures and fittings|15% reducing balance|



## **Cash and cash equivalents** 

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 

Page 14 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **Foreign exchange** 

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date. 

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate). 

Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for: 

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above); 

2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and 

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity. 

## **Fund structure** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. 

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

Page 15 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **Pensions and other post retirement obligations** 

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. 

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. 

## **Financial instruments** 

## _**Classification**_ 

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. 

## _**Recognition and measurement**_ 

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. 

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. 

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. 

Page 16 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## _**Debt instruments**_ 

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method: 

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate. 

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged. 

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a). 

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods. 

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law. 

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c). 

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. 

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. 

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment. 

Page 17 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **3 Income from donations and legacies** 

||**Unrestricted funds**|**Unrestricted funds**|**Unrestricted funds**||**Restricted**||**Total**|
|---|---|---|---|---|---|---|---|
||**Designated**||**General**||**funds**||**funds**|
||**£**||**£**||**£**||**£**|
|Donations and legacies;||||||||
|Donations from individuals|-||26,963||-||26,963|
|Gift aid reclaimed|8,963||38,657||1,384||49,004|
|Regular giving and capital||||||||
|donations|18,125||171,334||47,565||237,024|
|**Total for 2020**|27,088||236,954||48,949||312,991|
|**Total for 2019**|20,004||251,774||41,821||313,599|
|||||||||



## **4 Investment income** 

||**Unrestricted funds**|**Unrestricted funds**|**Unrestricted funds**||**Total**|
|---|---|---|---|---|---|
||**Designated**||**General**||**funds**|
||**£**||**£**||**£**|
|Interest receivable and similar income;||||||
|Interest receivable on bank deposits|2||69||71|
|**Total for 2020**|2||69||71|
|**Total for 2019**|4||142||146|



## **5 Other income** 

|Fees and supplies<br>Rental income<br>**Total for 2020**<br>**Total for 2019**|**Unrestricted**<br>**funds**<br>**General**<br>**£**<br>2,081<br>20<br>2,101<br>2,413|**Total**<br>**funds**<br>**£**<br>2,081<br>20<br>2,101<br>2,413|
|---|---|---|



Page 18 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **6 Expenditure on charitable activities** 

|||**Unrestricted funds**|**Unrestricted funds**|**Unrestricted funds**||**Restricted**||**Total**|
|---|---|---|---|---|---|---|---|---|
|||**Designated**||**General**||**funds**||**funds**|
||**Note**|**£**||**£**||**£**||**£**|
|Staff costs||4,688||166,436||-||171,124|
|Allocated support|||||||||
|costs||14,478||61,008||56,779||132,265|
|Governance|||||||||
|costs|8|-||2,955||-||2,955|
|**Total for 2020**||19,166||230,399||56,779||306,344|
|**Total for 2019**||17,059||246,623||50,656||314,338|



||**Activity**|||
|---|---|---|---|
||**undertaken**||**Total**|
||**directly**||**expenditure**|
||**£**||**£**|
|General fund|227,624||227,624|
|Ghana|52,837||52,837|
|Jubilee debt advice|6,246||6,246|
|New life for Romania|11,238||11,238|
|Mission and evangelism|5,448||5,448|
|**Total for 2020**|303,393||303,393|
|**Total for 2019**|311,628||311,628|



In addition to the expenditure analysed above, there are also governance costs of £2,955 (2019 - £2,710) which relate directly to charitable activities. See note 8 for further details. 

## **7 Other expenditure** 

Page 19 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

|||**Unrestricted funds**|**Unrestricted funds**|**Unrestricted funds**||**Restricted**||**Total**|
|---|---|---|---|---|---|---|---|---|
|||**Designated**||**General**||**funds**||**funds**|
||**Note**|**£**||**£**||**£**||**£**|
|Depreciation,|||||||||
|amortisation and other|||||||||
|similar costs||81||4,051||5,304||9,436|
|Taxation paid by|||||||||
|trading subsidiary||-||13||-||13|
|**Total for 2020**||81||4,064||5,304||9,449|
|**Total for 2019**||75||4,237||5,323||9,635|



## **8 Analysis of governance and support costs** 

## **Governance costs** 

||**Unrestricted**|||
|---|---|---|---|
||**funds**||**Total**|
||**General**||**funds**|
||**£**||**£**|
|Independent examiner fees||||
|Examination of the financial statements|2,955||2,955|
|**Total for 2020**|2,955||2,955|
|**Total for 2019**|2,710||2,710|



Page 20 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **9 Net incoming/outgoing resources** 

Net outgoing resources for the year include: 

Depreciation of fixed assets 

**2020 2019 £ £** (9,436) (9,635) 

## **10 Trustees remuneration and expenses** 

During the year the charity made the following transactions with trustees: 

## **Reverend G D Cormack** 

Reverend G D Cormack received remuneration of £41,381 (2019: £40,272) and £Nil (2019: £80) of expenses were reimbursed to Reverend G D Cormack during the year. 

Pension contributions for the trustee for the year totalled £2,428 (2019: £1,971). 

The trustee was remunerated in consideration for their duties as Senior Pastor of the New Life Baptist Church Northallerton. 

## **Mr S S Cowie** 

Mr S S Cowie received remuneration of £35,330 (2019: £34,383) and £343 (2019: £2,131) of expenses were reimbursed to Mr S S Cowie during the year. 

The trustee was reimbursed for travelling expenditure relating to mileage and other sundry expenditure. 

The trustee received no pension contributions during the year from the charity (2019: £nil). 

The trustee was remunerated in consideration for their duties as Mission Pastor of the New Life Baptist Church Northallerton. 

Page 21 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **11 Staff costs** 

The aggregate payroll costs were as follows: 

|The aggregate payroll costs were as follows:||||
|---|---|---|---|
||**2020**||**2019**|
||**£**||**£**|
|**Staff costs during the year were:**||||
|Wages and salaries|152,996||146,235|
|Social security costs|13,705||13,316|
|Pension costs|4,423||3,913|
||171,124||163,464|



The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows: 

||**2020**||**2019**|
|---|---|---|---|
||**No**||**No**|
|Directors|7||6|
|Other salaried staff|5||4|
|||||
||12||10|
|**12 Independent examiner's remuneration**||||
||**2020**||**2019**|
||**£**||**£**|
|Examination of the financial statements|2,955||2,710|



Page 22 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **13 Taxation** 

The charity is a registered charity and is therefore exempt from taxation. 

## **14 Tangible fixed assets** 

|**14 Tangible fixed assets**|||||||
|---|---|---|---|---|---|---|
||||**Furniture**||||
||**Land and**||**and**||||
||**buildings**||**equipment**||**Total**||
||**£**||**£**||**£**||
|**Cost**|||||||
|At 1 January 2020|438,250||99,622||537,872||
|Additions|-||1,482||1,482||
|At 31 December 2020|438,250||101,104||539,354||
|**Depreciation**|||||||
|At 1 January 2020|167,337||88,734||256,071||
|Charge for the year|7,765||1,667||9,432||
|At 31 December 2020|175,102||90,401||265,503||
|**Net book value**|||||||
|At 31 December 2020|263,148||10,703||273,851||
|At 31 December 2019|270,913||10,888||281,801||
|Included in Land and Buildings is £50,000 relating to land which is not depreciated.|||||||
|**15 Debtors**|||||||
||||**2020**||**2019**||
||||**£**||**£**||
|Prepayments|||1,221||1,245||
|Other debtors|||13,995||12,099||
||||15,216||13,344||
||||||||



Page 23 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **16 Cash and cash equivalents** 

||**2020**||**2019**|
|---|---|---|---|
||**£**||**£**|
|Cash on hand|83||83|
|Cash at bank|101,665||99,712|
|Short-term deposits|3||3|
||101,751||99,798|



## **17 Creditors: amounts falling due within one year** 

|**17 Creditors: amounts falling due within one year**||||
|---|---|---|---|
||**2020**||**2019**|
||**£**||**£**|
|Other taxation and social security|(25)||3,250|
|Other creditors|26||380|
|Accruals|2,841||2,707|
||2,842||6,337|
|||||



## **18 Pension and other schemes** 

## **Defined contribution pension scheme** 

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £4,423 (2019 - £3,913). 

## **19 Funds** 

|**19 Funds**||||||||
|---|---|---|---|---|---|---|---|
||||||||**Balance at**|
||**Balance at 1**||||||**31**|
||**January**||**Incoming**||**Resources**||**December**|
||**2020**||**resources**||**expended**||**2020**|
||**£**||**£**||**£**||**£**|
|**Unrestricted**||||||||
|General|197,739||239,124||(234,463)||202,400|
|Designated|19,940||27,090||(19,247)||27,783|
|**Total unrestricted**|217,679||266,214||(253,710)||230,183|
|**Restricted**|170,927||48,949||(62,083)||157,793|
|**Total funds**|388,606||315,163||(315,793)||387,976|



Page 24 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

|||||||**Balance at**|
|---|---|---|---|---|---|---|
|**Balance at 1**||||||**31**|
|**January**||**Incoming**||**Resources**||**December**|
|**2019**||**resources**||**expended**||**2019**|
|**£**||**£**||**£**||**£**|
|**Unrestricted**|||||||
|General<br>194,270||254,329||(250,860)||197,739|
|Designated<br>17,066||20,008||(17,134)||19,940|
|**Total unrestricted**<br>211,336||274,337||(267,994)||217,679|
|**Restricted**<br>185,085||41,821||(55,979)||170,927|
|**Total funds**<br>396,421||316,158||(323,973)||388,606|
|**20 Analysis of net assets between funds**|||||||
|**2020**<br>**Unrestricted**|||||||
|**General**||**Designated**||**Restricted**||**Total funds**|
|**£**||**£**||**£**||**£**|
|Tangible fixed assets<br>133,861||458||139,532||273,851|
|Current assets<br>92,860||16,309||7,798||116,967|
|Current liabilities<br>(2,828)||-||-||(2,828)|
|Total net assets<br>223,893||16,767||147,330||387,990|
|**2019**<br>**Unrestricted**|||||||
|**General**||**Designated**||**Restricted**||**Total funds**|
|**£**||**£**||**£**||**£**|
|Tangible fixed assets<br>136,799||164||144,838||281,801|
|Current assets<br>90,969||14,389||7,784||113,142|
|Current liabilities<br>(6,337)||-||-||(6,337)|
|Total net assets<br>221,431||14,553||152,622||388,606|



Page 25 



## **New Life Baptist Church Northallerton** 

## **Notes to the Financial Statements for the Year Ended 31 December 2020** 

## **21 Analysis of net funds** 

|**21 Analysis of net funds**||||||
|---|---|---|---|---|---|
||**At 1**||||**At 31**|
||**January**||**Financing**||**December**|
||**2020**||**cash flows**||**2020**|
||**£**||**£**||**£**|
|Cash at bank and in hand|99,798||1,956||101,754|
|Net debt|99,798||1,956||101,754|
||**At 1**||||**At 31**|
||**January**||**Financing**||**December**|
||**2019**||**cash flows**||**2019**|
||**£**||**£**||**£**|
|Cash at bank and in hand|101,704||(1,906)||99,798|
|Net debt|101,704||(1,906)||99,798|



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