Company Registration No. 07121504 Charily registration No. 1134671 NEW LIFE BAPTIST CHURCH NORTHALLERTON ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Colin Hutson Accounting Limited Chartered Accountants
New Life Baptist Church Northallerton Contents Reference and Administrative Details Trustees, Report 2105 statement of Trustees, Responsibilities Independent Examiner's Report 7t08 Slalement of Financial Activities 9t010 Balance Sheet 11 to12 Notes to Ihe Financial Statements 131027
New Life Baptist Church Northallerton Reference and Administrative Details Other Officers Mr N Mathieson, Treasurer Charity Registration Number 1134671 Company Registration Number 07121504 The charity is incorporated in England and Wales. New Life Baptist Church 52-54 High Street Northallerton North Yorkshire DL7 8EG Registered Office Independent Examiner lan Smithson CPFA 3 Orchard Court Northallerton North Yorkshire DL7 8DQ Colin Hutson Accounting Limited Chartered Accountants 74 High Street Northallerton North Yorkshire DL7 8EG Accountants Page I
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 stalements of the charitable company for the year ended 31 December 2023. Objectives and activities Objects and aims These continue lo be the advancement of the Chrislian faith according lo the principles of Ihe Baptist denomination and the advancement of education community Servi and other charitable purposes in the United Kingdom and other parts of Ihe 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, strategles 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 seNiGes or midweek activities. We partner with the olher churches in Ihe town under the banner of One Northallerton, working together to welcome people in new housing to our lown, support Syrian refugee families as Ihey settle in Northallerton and establish a community hub in the town called The Living Rooms, which is a safe and welcoming place where 'il is ok not to be ok,. Public benefit The trustees have referred to the guidance contained in the Charily Commissions, general guidance on public benefit, when reviewing our aims and objectives and in planning fulure activilies. In particular the trustees consider how planned activities will contribute lo 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 conlinue to welcome new families and individuals to the fellowship and our partners (church members) are very generous in Iheir giving. The balance sheet remains healthy with lotal funds of £465,95712022- £453,524) There has continued lo be generous gifts for our support for communities in both Ghana and Romania. In addition the Jubilee Debt Advice Cenlre 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 il does not rely on any financial support from church funds. Page 2
New Life Baptist Church Northallerton Trustees, Report Financial review Policy on reseNes Reserve funds are held to cover capital expenditure and future expansion of ministries. Included in our reseNes is an amount which we intend to use for mission al 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, Ihe actual free cash at the year end equate to £79,771 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 lo adopt the going concern basis in preparing the financial statements. Further details regarding Ihe adoption of the going conrn basis can be found in the Accounting Policies. During the year we have worked hard at building a culture of welcome, making sure we care for everyone who comes into our fellowship. We have seen many of our ministries flourish and grow, from our garden project in partnership with Three13, to our Jubilee Debt advice centre. We are committed to growing as followers of Jesus, learning how to live out our faith in our everyday. We have said goodbye to some and welcomed others, and have a continued commitment to unity in the gospel of Christ and a desire lo go deeper in our walk with God. Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Mrs D M Lucas (resigned 29 March 2023) Mrs J M Swain Mr J L Hodgson (resigned 17 July 2023) Mr J H Smith Ms A G Spence Mr M J Cockerill Mr J A Smith (appointed 28 June 2023) Mrs S M Hinton (appointed 18 October 2023) Truslees.. Page 3
New Life Baptist Church Northallerton Trustees, Report Structure, governance and management Nature of governing document The charity is registered as a charitable company limited by guarantee, incorporated on 11 January 2010. 11 was registered as a charity on 5 March 2010. The principal object of the charity is to the advancement of the Christl8n faith according to the principles of the Baptist denomination to include Ihe advanment 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. 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 Iruslees, 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 furtheran 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 meelings by appropriate majorities, the church seeks to work by consensus wherever possible. Page 4
New Life Baptist Church Northallerton Trustees, Report Financial instruments Objectives and policles 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 Iruslees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial inslruments for speculalive purposes. The annual report was approved by the trustees of the charity on 25 Seplember 2024 and signed on its behalf by.. Mrs J M Swain Trustee Page 5
New Life Baptist Church Northa51erton Statement of Trustees. Responsibilities The Iruslees (who are also the direclors of New Life Baptisl Church Northallerton for the purposes of company law) are responsible for preparing the trustees, report and the financial slatemenls in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees lo prepare financial slatements for each financial year. Under company law the trustees musl not approve Ihe financial statements unless they are satisfied thal they give a true and fair view of the stale of affairs of the charilable company and of its incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and apply them consislently-, observe the melhods 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 accounling records Ihat 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 25 September 2024 and signed on its behalf by.. J M Swain Trustee Page 6
New Life Baptist Church Northallerton Independent Examiner's Report to the trustees of New Life Baptist Church Northallerton ("the Company") I report to Ihe charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. Responsibllities and basis of report As the charity's Iruslees of the Company {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 Acl'l. Having satisfied myself that the accounts of New Life Baptist Church Northallerton are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examinalion 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 Ihe 2011 Act. Page 7
New Life Baptist Church Northallerton Independent Examiner's Report to the trustees of New Life Baptist Church Northallerton ("the Company") Independent examiner's statement Since the Company's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of , which is one of Ihe listed bodies. I have completed my examinalion. I confirm that no matters have come lo my attention in connection with the examination giving me cause lo believe.. accounting records were nol 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. Ihe accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Praclice for accounting and reporting by charities lapplicable to charilies preparing their accounls 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 matlers in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ilhson CPFA 3 Orchard Court Northallerton North Yorkshire DL7 8DQ 25 September 2024 Page 8
New Life Baptist Church Northallerton Statement of Financial Activities for the Year Ended 31 December 2023 {Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) 2023.. Current period Total 2023 Unrestricted Restricted Note Income and Endowments from: Donations and legacies Investment income other income 276,248 1,280 192 48,909 325,157 1,280 192 22 Total Income 277,720 48,909 326,629 Expenditure on.. Charitable activities other expendilure Total Expenditure Net incomel(expenditure} Net movement in funds {245,234) (7,872 (253,106 24,614 (47,542) (13,548 61,090 (292,776) (21,420 314,196 (12,181 12,433 24,614 {12,181) 12,433 Reconciliation of funds Total funds brought foward Total funds carried forward 318,870 343,484 134,654 122,473 453,524 465,957 17 The noles on pages 13 to 27 form an integral part of these financial slalements. Page 9
New Life Baptist Church Northallerton Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) 2022: Comparative period Unrestricted Restricted funds funds Total 2022 Note Income and Endowments from.. Donations and legacies Investment income Other income 259,042 126 311 53,772 312,814 126 311 22 Total income 259,479 53,772 313,251 Expenditure on: Charitable activities Other expenditure Tolal expenditure Net incomel{expendilure) Net movement in funds (209,0811 3,942) {63,287) (5,478 (68,765) 14,993 {272,368) 9,420> (281,788) 31,463 (213,023 46,456 46,456 (14,993) 31,463 Reconciliation of funds Total funds brought fOard Total funds carried fOard 272,414 318,870 149,647 134,654 422,061 453,524 17 All of the charity's activities derive from conlinuing operations during the above two periods. The funds breakdown for 2022 is shown in note 17. The notes on pages 13 to 27 form an integral part of these financial statements. Page 10
New Life Baptist Church Northallerton (Registration number: 07121504) Balance Sheet as at 31 December 2023 2023 2022 Note Fixed assets Tangible assets Current assets Deblors Cash al bank and in hand 586,411 256,734 12 13 16,989 107,662 13,598 187,479 201,077 124,651 13,952 110,699 Creditors: Amounts falling due within one year Net current assets 14 4,2871 196,790 Total assets less current liabilities Creditors: Amounts falling due after more than one year 697,110 453,524 15 231,153 465,957 Net assets 453,524 Funds of the charity: Restricted 122,473 134,654 Unrestricted income funds Unreslricted 343,484 318,870 453,524 Total funds 17 465,957 The notes on pages 13 to 27 form an integral part of these financial statements. Page11
New Life Baptist Church Northallerton (Registration number: 071215041 Balance Sheet as at 31 December 2023 For the financial year ending 31 December 2023 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 ils accounts for the year in question in accordan 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. The financial statements on pages 9 to 27 were approved by the trustees, and authorised for issue on 25 Seplember 2024 and signed on Iheir behalf by.. J Cockerill Trustee The notes on pages 1310 27 form an integral part of these financial statemenls. Page 12
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 1 Charity status The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capilal. 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 ils registered office is: New Life Baplisl Church 52-54 High Slreel Northallerton North Yorkshire DL7 8EG These financial slalements were authorised for issue by the trustees on 25 Seplember 2024. 2 Accounting policies Summary of significant accounting policies and key accounting estlmates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied lo all the years presenled, unless otheise staled. statement of compliance The financial slalements have been prepared in accordance wilh Accounling and Reporiing 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 IFRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 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 olheNise 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. Exemplion from preparing a cash flow statement The charity opted lo early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow slalement in these financial slatements. Page 13
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 Income and endowments All income is recognised once the charity has entitlement lo the income, il is probable that the income will be received and Ihe amount of the income re]Vable can be measured reliably. Donations andlegacies Donations are recognised when Ihe charity has been notified in writing of both the amount and settlement date. In Ihe 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 Ihe control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Grants receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached lo the grant and are yel lo be met, Ihe income is recognised as a liability and included on the balance sheet as deferred income to be released. Investment incon7e 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 lo Ihat 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 cosls 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 comprtses 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 cosls 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. Page 14
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 Governance costs These include the costs attributable lo the charity's compliance with constilulional and statulory requirements, including independent examination, strategic managemenl and Iruslees's meetings and reimbursed expenses. Government grants Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either lo revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating lo assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. Taxation The charity is considered lo pass the lests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il 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 lo charitable purposes. Tangible fixed assets Individual fixed assets costing £100 or more are inilially recorded al cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as lo 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 20A straight line Fixtures and fillings 150k reducing balance Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-lerm highly liquid investments that are readily convertible lo a known amount of cash and are subject to an insignificant risk of change in value. Page 15
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 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 nol been designated for other purposes. Designated funds comprise unrestricted funds that have been sel 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 Ihose donated for use in a particular area or for specific purposes, the use of which is restricted to thal 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 sel out in the notes to the financial statements. 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 seNice in the current and prior periods. Conlributions 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 arrangemenls enlered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Page 16
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 Recognition and measurement All financial assets and liabilities are initially measured at transaction price (including Iransaclion 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 Iransaclion price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constilules a financing Iransaclion, the financial asset or financial liability is measured al 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 sel off the recognised amounts and the charity intends either to settle on a net basis, or lo realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights lo the cash flows from the financial asset expire or are settled, bl the charity transfers lo another party substanlially all of the risks and rewards of ownership of the financial asset, or cl 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 17
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 Debt instruments Debt instruments which meet the following condilions are subsequently measured at amortised cost using the effective interest method.. (al The contractual return to the holder is (i) a fixed amount,. (li) a positive fixed rate or a positive variable rate., or {iiil 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 relurn to Ihe holder {but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt inslrumenl is denominated, provided such links are not leveraged. (c) The conlracl may provide for a determinable variation of the return to the holder during the life of the instrument, provided that li) 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) lo protect the holder against credit delerioralion of the issuer. {3) Changes in levies applied by a central bank or arising from changes in relevant taxation or law,. or (li) 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 lo the current period or prior periods. le) Contractual provisions that permit the issuer to prepay a debt instrument or permil the holder to put il back lo the issuer before malurily are not contingent on future events, other than lo protect the holder against the credil 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. {fj Contractual provisions may permit the extension of Ihe term of the debt inslrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (al 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 inslruments not meeting these conditions are measured al fair value through profit or loss. Commitments to make and receive loans which meet the conditions menlioned above are measured at cost (which may be nil) less impairment. Page 18
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 3 Income from donations and legacies Unrestricted funds Designated General Restricted funds Total funds Donations and legacies., Donalions from individuals Gift aid reclaimed Grants, including capital grants., Government grants Regular giving and capital donations 5,591 7,191 53,585 42,066 11,960 535 71,136 49,792 3,319 500 3,819 4,164 20,265 159,832 36,414 48,909 53,772 200,410 325,157 Total for 2023 255,983 Total for 2022 20,597 238,445 312,814 4 Other income Unrestricted funds General Total funds Fees and supplies Total for 2023 192 192 192 192 Total for 2022 311 311 Page 19
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 5 Other expenditure Unrestricted funds Designated General Restricted funds Total funds Note Depreciation, amortisalion and other similar cosls 512 7,360 7,360 13,548 13,548 21,420 21,420 Total for 2023 512 Total for 2022 73 3,869 5,478 9,420 6 Analysis of governance and support costs Governance costs Unrestricted funds General Total funds Independent examiner fees Examination of the financial statements Allocated support costs Total for 2023 500 7,833 8,333 500 7,833 8,333 7,525 Total for 2022 7,525 Page 20
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 7 Expenditure on charitable activities Unrestricted funds Designated General Restricted funds Total funds Note Staff cosls Allocated support costs Governance costs 5,359 117,794 123,153 20,214 93,534 47,542 161,290 8,333 219,661 8,333 292,776 272,368 Total for 2023 25,573 27,437 47,542 Total for 2022 181,644 63,287 8 Trustees remuneration and expenses During the year the charily made the following Iransaclions with Iruslees.. Mr M J Cockerill Mr M J Cockerill received remuneration of £27,825 (2022.. £10.828) and £7,943 (2022.. £731> of expenses were reimbursed to Mr M J Cockerill during the year. The trustee was reimbursed for travelling expenditure relating lo mileage and other sundry expenditure. The trustee received pension contributions during the year of £2,504 from the charity (2022.. £9751. The tfuslee was remunerated in consideration for their duties as Senior Pastor of the New Life Baptist Church Northallerton. At the balance sheet date the amount due from Mr M J Cockerill was £Nil (2022-. £278). Mrs J M Swain £Nil {2022'. £352) of expenses were reimbursed to Mrs J M Swain during Ihe year. The trustee received no pension contributions during the year from the charity. 9 Independent examlner's remuneration 2023 2022 Examination of the financial stalements 500 400 Page 21
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 10Taxation The charity is a registered charity and is therefore exempt from laxalion. 11 Tangible fixed assets Furniture and equipment Land and buildings Total Cost At 1 January 2023 Additions Disposals At 31 December 2023 438,250 349,063 1227 787.086 102,981 541,231 2,435 351,498 (26,2971 (26,524) 79,119 866,205 Depreciation At 1 January 2023 Charge for Ihe year Eliminated on disposals At 31 December 2023 190,813 17,647 (113 208,347 93,638 2,332 24,523) 284,451 19,979 24,636 71,447 279,794 Net book value At 31 December 2023 578,739 7,672 9,343 586,411 At 31 December 2022 247,437 256,780 Included in Land and Buildings is £50,000 relating to land which is not depreciated. 12 Debtors 2023 2022 Prepayments Other debtors 1,460 15,529 16,989 2,347 11,251 13,598 Page 22
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 13Cash and cash equivalents 2023 2022 Cash on hand Cash 81 bank 83 107,579 107,662 83 187,396 187,479 14Creditors: amounts falling due within one year 2023 2022 Bank loans Other taxation and social security Other creditors Accruals 8,533 (1,314) 1,841 3,760 4,287 5,419 13,952 15 Creditors: amounts falling due after one year 2023 Bank loans 231,153 16 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 £4,126 {2022- £2,392). Page 23
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 17 Funds Balance at 31 December 2023 Balance at 1 January 2023 Incoming resources Resources expended Unrestricted General 288,554 30,316 257,390 {227,021) 26,085 318,923 Designaled Total unrestricted 20,330 24,561 318,870 277,720 48,909 1253,106) (61,090) 343,484 122,473 Restricted 134,654 Total funds 453,524 326,629 (314,196) 465,957 Balance at 31 December 2022 Balance at 1 January 2022 Incoming resources Resources expended Unrestricted General 235,187 238,879 20,600 (185,513) {27,510) {213,023) 68,765 288,553 30,317 Designated Total unrestricted 37,227 272,414 149,647 259,479 53,772 318,870 134,654 Restricted Totsl funds 422,061 313,251 281,788) 453,524 Page 24
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 18Analysis of net assets between funds 2023 Unrestricted General Designated Restricted Total funds Tangible fixed assets Current assets Current liabilities Creditors over 1 year 470,192 96,761 (13,9521 231,153) 321,848 1,026 16,003 115,193 11,887 586,411 124,651 (13,952) 231,153) 465,957 Total net assets 17,029 127,080 2022 Unrestricted General Designated Restricted Total funds Tangible fixed assels Current assets Current liabilities 126,454 175,662 (3,287) 298,829 1,538 16,846 (1,000 17,384 128,742 8,569 256,734 201,077 4,287 453,524 Total net assets 137,311 Page 25
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 q9 Analysis of net funds At1 January 2023 At31 December 2023 Financing cash flows Cash at bank and in hand 187,479 187,479 At1 January 2022 79,817 107,662 Net debt {79,817) 107,662 At31 December 2022 Financing cash flows Cash at bank and in hand 146,906 146,906 40,573 40,573 187,479 187,479 Net debt Page 26
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2023 20 Staff costs The aggregate payroll costs were as follows.. 2023 2022 Staff costs during the year were: Wages and salaries Social security costs Pension costs other staff costs 114,948 3,869 4,126 210 117,661 1,776 2,392 94 123,153 121,923 The monthly average number of persons (including senior management I leadership leaml employed by the charity during the year expressed as full time equivalents was as follows.. 2023 2022 No Directors Other salaried staff 10 21 Net incomingloutgoing resources Nel incoming resources for Ihe year include.. 2023 2022 Profitl{loss) on disposal of fixed assets held for the charity's own use Depreciation of fixed assets 11,487) {19,933 9,420 22 Investment income Unrestricted funds Designated General Total funds Interest receivable and similar income. Interest receivable on bank deposits 65 1,215 1,280 1,280 Total for 2023 65 1,215 123 Total for 2022 126 Page 27