Company Registration No. 07121504 Charity registralion No. 1134671 NEW LIFE BAPTIST CHURCH NORTHALLERTON ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Colin Hutson Accounting Limited Chartered Accountants
New Life Baptist Church Northallerton Contents Reference and Adminislralive Details Trustees, Report 2to5 Slatemenl of Trustees, Responsibilities Independent Examinels Report 7108 Slalement of Financial Activities 9t010 Balance Sheet 11 to12 Notes to the Financial Slalemenls 13to28
New Life Baptist Church Northallerton Reference and Administrative Details Other Officers Mr N Malhieson. Treasurer Charity Reglstratlon 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 Smith8on CPFA 3 Orchard Court Northallerton North Yoikshire DL7 8DQ Colin Hutson Accounting Limited Chartered Accountants 74 High Street Northallerton North Yorkshire DL7 8EG Accountants 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 2024. Objectives and activitles Objects and aims These continue to be the advancement of the Christian faith according lo the principles of the Baptist denomination and the advancemenl 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, failh, and hope in our lives and community. Objectives, strategies and activities New Life Baptist Church is a vibranl. diverse community of more than 200 people from 311 walks of life and every age group. Whether you already know and love Jesus or are simply curious to learn more about Him, you are warmly invited to join us al our weekly services and activities. Our desire is to share Ihe good news of Jesus with our local communities while continuing lo grow together in our love for God and undeistanding of His Word. Public benefit The Iruslees have referred to the guidance contained in Ihe Charity Commissions, general guidance on public benefit, when reviewing our aims and objectives and in planning future activities. In patticular the trustees consider how planned activities will contribute to the aims and objectives they have sel. The Iruslees 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 lo 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 total funds of £463,240 {2023 - £465,957) There has continued lo be generous gifts for our support for communities in both Ghana and Romania. In addition the Jubilee Debt Advi¢e Centre continues lo be fully financed by generous donations and does not rely on funding from general church or missionary funds. The Northallerton Slreet 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 Flnan¢lal review Policy on reserves Reserve funds are held to cover capital expenditure and future expansion of ministries. Included in our reseeS is an amount which we intend to use for mission al home and abroad. The trustees consider that approximalely Ihree months of operating costs are required to be held as free cash which equates lo £60,000, the actual free cash at the year end equate to £74,296 and are Iherefore broadly inline with the policy which has been set. Going concern After making appropriate enquiries, the Iruslees 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 Ihe going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in Ihe Accounting Policies. As a community, we remain committed to serving God by f21thfully sharing and living out Ihe truths of Scripture. Our ministry currently cenlres on three key areas.. our Jubilee debt service, our bereavement ministry, and our partnership with Three13 to support those seeking employment. Alongside these. we are deeply focused on growing as disciples of Jesus Christ. learning together what it means to follow His Word in today's world. In all these areas, we continue to strive for growth and faithfulness. Trustees and officers The trustees and officers serving during the year and since the year end were as follows.. Truslees: Mrs J M Swain Mr J H Smith (resigned 29 April 2024) Ms A G Spence Mr M J Cockerill Mr J A Smith Mrs S M Hinton Mrs J A West (appointed 26 March 2025) Mr M Griffilhs {resigned 2 May 2024) 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. It was registered as a charity on 5 March 2010. The principal object of the ¢harity is to the advancement of the Christian faith according to the principles of the Baptisl denomination to include the advancemenl of education, communily service and other general charitable purposes in such parts of the United Kingdom and Ihe 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 accordan with the constitution on the profession of faith in Jesus Christ. The partners meeting normally lakes place three limes 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 lake part in the spiritual and practical tasks involved in the furtherance of the charitable objective. Relevant matters may be submilled 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 lo 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 Financlal Instruments Objectives and policies The charity's activities expose il to a number of finan¢ial risks including credit risk. cash Ilow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of trustees, which provide wrillen principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculalive purposes. The annual report was approved by the Irustees of the charity on 25 September 2025 and signed on its behalf by.. Mrs M Swain Trustee Page 5
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 Iruslees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the Irustees lo prepare financial slalements for each financial year. Under company law the trustees must nol approve the financial slalemenls unless they are salislied that they give a Irue and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources. including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Irustees are required lo: select suilable accounting policies and apply them consistently., observe Ihe methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent-, stale whether applicable accounting standards, comprising FRS 102 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 il is inappropriate to presume that the charitable company will continue in business. The Iruslees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any lime 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. The Iruslees are responsible for the maintenance and integrity of Ihe corporate and financial information included on Ihe charitable company's website. Legislation governing the preparation and dissemination of financial slalements may differ from legislation in other jurisdictions. M Swain Trustee Page 6
New Life Baptist Church Northallerton Independent Examiner's Report to the trustees of New Life Baptist Church Northallerton I'the Company,) I report to the charity trustees on my examinalion of the accounts of the Company for the year ended 31 December 2024. Responsibllltles and basis of report As the charity's trustees of the Company (and also ils directors for the purposes of company lawl you are responsible for the preparalion of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company 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 Ihe 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 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 Ihe 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Chartered Institute of Public Finance and Accountancy, which is one of the listed bodies. I have completed my examination. I confirm that no mallers have come to my attention in connection with Ihe examination giving me cause to believe.. 1. accounting records were nol kepl 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 'lrue and fair view which is not a matter considered as part of an independent examination. or 4. the accounts have not been prepared in accordan with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordance with the Financial Reportirlg Standard applicable in the UK and Republic of Ireland {FRS 102)]. I have no concerns and have come across no other malters in conneclion 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. lan Smilhson CPFA 3 Orchard Court Northallerton North Yorkshire DL7 8DQ 25 September 2025 Page 8
New Life Baptist Church Northallerton Statement of Financial Activities for the Year Ended 31 December 2024 {Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) 2024: Current period Total 2024 Unrestrlcted Restricted Note Income and Endowments from: Donations and legacies Investment income other income 249,559 1,337 441 48,897 48 298,456 1,385 441 21 Total Income 251,337 48,945 300,282 Expenditure on: Charitable activities Other expenditure Total Expenditure Nel incomel(expenditure) Transfers between funds {241,268) {5,954 (50,870) {4.907 {292,138) 110,861 247,222 (55,777 302,999 4,115 11,980 (6.832) 11,980 {2,717) Net movement in funds (7,8651 5,148 12,717) Reconclllation of funds Total funds brought forward Total funds carried fomard 343,484 335,619 122,473 127,621 465,957 16 463,240 The notes on pages 13 10 28 form an integral part of these financial statements. Page 9
New Life Baptist Church Northallerton Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) 2023: Comparative period Unrestrlcted Restricted funds funds Total 2023 Note Income and Endowments from: Donations and legacies Investment income other income 276,248 1,280 192 48,909 325,157 1,280 192 21 Total income 277,720 48,909 326,629 Expenditure on: Charitable activities Other expenditure Total expenditure Net incomel{expenditureJ Net movement in funds {245,234) (7,872 253,106) 147,542) (13,548 (292,776) (21,420 61,090 314,196) 24,614 12,181) 12,433 24,614 {12,181> 12,433 Reconciliation of funds Total funds brought forward Total funds carried forward 318,870 343,484 134,654 122,473 453,524 16 465,957 All of the charills activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 16. The notes on pages 13 to 28 form an integral part of these financial statements. Page 10
New Life Baptist Church Northallerton (Registration number: 071215041 Balance Sheet as at 31 December 2024 2024 2023 Note Fixed assets Tangible assets 580,571 586,411 Current assets Debtors Cash al bank and in hand 12 13 18,718 100,376 119,094 16,989 107,662 124,651 Creditors: Amounts falling due within one year 14 116,028) (13,952) Net current as$ets 103,066 110,699 Total assets less current liabllltles 683.637 697.110 Creditors: Amounts falllng due after more than one year 15 220.397) 463,240 231,153) 465,957 Net assets Funds of the charity.. Restricted 127,621 122,473 Unrestricted income funds Unrestricted 335,619 343,484 Total funds 16 463,240 465,957 The notes on pages 13 to 28 form an integral part of Ihese financial statements. Page11
New Life Baptist Church Northallerton (Registration number: 07121504) Balance Sheet as at 31 December 2024 For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating lo small companies. Directors, responsibilities.. The members have not required the charity to obtain an audit of its accounts for the year in question in a¢cordance with section 476., and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating lo companies subject lo the small companies regime within Part 15 of the Companies Act 2006. The financial slalemenls on pages 9 to 28 were approved by the trustees, and aulhorised for issue on 25 September 2025 and signed on their behalf by.. J Cockerill Trustee The noles on pages 13 to 28 form an integral part of these financial slatements. Page 12
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 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 Offi is: New Life Baptist Church 52-54 High Street Northallerton North Yorkshire DL7 8EG These financial slalements were authorised for issue by the trustees on 25 September 2025. 2 Accounting policies Summary of significant accounting policies and key accountlng estlmates The principal accounting policies applied in the preparation of these financial statements are sel out below. These policies have been consistently applied to all the years presented, unless othetwise slated. 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) {effe¢live 1 January 2019) - {Charilies SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and ChaTilies Act 2011. Basls of preparation New Life Baplisl Church Northallerton meets the definition of a public benefit entily under FRS 102. Assets and liabilities are initially recognised at historical cost or Iransaclion value unless otherwise slated in the relevant accounting policy notes. Going concern The trustees consider that there are no material uncertainties about Ihe charity's ability to continue as a going concern nor any significant areas of uncertainly thal affect the carrying value of assets held by the charity. Exemptlon 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 13
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 DeGember 2024 Income and endowments All income is recognised once the charity has entitlement to Ihe 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 dale. 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 ¢ondilions are fully met, or the fullilment of those conditions is wholly within the conlrol of the charity and it is probable that these conditions will be fulfilled in Ihe reporting period. Grants receivable Grants are recognised when the charity has an entillemenl to the funds and any conditions linked to the grants have been mel. Where performance condition8 are attached to the grant and are yel to be mel, the income is recognised as a liability and included on the balan sheet as deferred income to be released. 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 nolifi¢alion of the interest paid or payable by the Bank. Expenditure All expenditure is recognised once there is a legal 01 constructive obligation lo thal expenditure, it is probable selllement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregale similar costs to that category. Where costs cannot be directly atlribuled to particular headings they have been allo¢ated on a basis consislenl with the use of resources, with traI slaff costs allocated on the basis of time spent, and depreciation charges a110¢2ted 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 ils beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary lo support Ihem. 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. Page 14
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 Governance costs These include the Costs allributable to Ihe charity's compliance with constitutional and statutory requirements, including independelll examination, strategic management and truslees'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 lo assets. Grants relating lo revenue are recognised in income over the period in which the related costs are recognised. Grants relating lo assels are recognised over the expected useful life of the assel. Where part of a grant relating to an asset is deferred, il is recognised as deferred income. Taxation The charity is considered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finan Act 2010 and therefore it meels the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempl from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax A¢1 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 IndividLJal 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 eslimaled residual value, over their expected useful economic life as follows.. Depreciation method and rate 20/0 straight line 15 % reducing balance Asset class Freehold property Fixtures and fillings 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 15
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 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 PUTposes. Designaled 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 slalements. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is reslricled lo that area or purpose. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restri¢led fund is set out in the notes lo the financial statements. Pensions and other post retirement obllgations The charity operates a defined contribulion 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 re¢ognised in Ihe Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for setvice, the excess is recognised as a prepayment. Flnanclal Instruments Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the inslrumenl. Financial liabilities and equity inslrumenls are classified according to the substance of the conlraclual arrangements entered into. An equity instrument is any conlract 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 Flnancial Statements for the Year Ended 31 December 2024 Recognition and measurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as al fair value through profit or loss, which are initially measured at fair value (which is normally Ihe transaction price excluding transaction costs), unless the arrangement ¢onslitules a financing Iransaclion. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted al 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 lo realise the asset and sellle the liability simultaneously. Financial assets are derecognised when and only when al the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers lo 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 lo 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 2024 Debt instruments Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective inlerest method.. {a) The contractual return to the holder is li) a fixed amount,. (ill a positive fixed rate or a positive variable rate.. or lili) a combination of a positive or a negative fixed rale and a positive variable rate. Ib) The Contract may provide for repayments of the principal or the return to the holder (but not both) lo 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. (cl The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that lil the new rate satisfies condition {a) and the variation is not conlingenl 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 Ihal could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods. le) Contractual provisions that permit the issuer to prepay a debt instrument or permil the holder to pul it back to the issuer before maturity are not conlingenl 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 laxalion or law. (D 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 lerm satisfy the conditions of paragraphs (a) to {c)- Debt instruments that are classified as payable or receivable within one year on initial recognition and whioh meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or reived, net of impaiTmenl. With the exceplion 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 18
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 3 Income from donations and legacie$ Unrestricted funds Designated General Restricted funds Total funds Donations and legacies., Donations from individuals Gift aid reclaimed Grants, including oapilal grants- Government grants Regular giving and capital donations 238 6,898 29,186 39,431 14,363 824 43,787 47,153 3.294 3,294 2,093 168,419 33,710 48.897 204,222 Total for 2024 12,523 237,036 298.456 Total for 2023 20,265 255,983 48,909 325,157 4 Other Income Unrestrlcted funds General Total funds Fees and supplies Total for 2024 441 441 441 441 Total for 2023 192 192 Page 19
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 5 Other expenditure Unrestricted funds Designated General Restricted funds Total funds Note Depreciation, amortisalion and other similar costs 154 5,800 5,800 4,907 10,861 Total for 2024 154 4,907 10,861 Total for 2023 512 7,360 13,548 21,420 6 Analysis of governance and support costs Governance costs Unrestricted funds General Total funds Independent examiner fees Examination of the financial stalements Allocated support costs Total for 2024 500 7,934 500 7,934 8,434 8,434 Total for 2023 8,333 8,333 Page 20
New Life Baptist Church Northallerton Notes to the Financlal Statements for the Year Ended 31 December 2024 7 Expendlture on charitable activities Unrestricted funds Designated General Restricted funds Total funds Note Staff costs Allocated support costs Governance costs 150 129,843 129,993 14,103 88,738 50,870 153,711 8,434 227,015 8,434 292,138 Total for 2024 14,253 50,870 Total for 2023 25,573 219,661 47,542 292,776 2024 8 Trustees remuneration and expenses During Ihe year the charity made the following transaclions with trustees.. Mr M J Cockerill Mr M J Cockerill received remuneration of £30,029 (2023: £27,825) and £3,481 (2023: £7,943) of expenses were reimbursed to Mr M J Cockerill during the year. The trustee was reimbursed for travelling expenditure relating to mileage and other sundry expenditure. The Iruslee received pension contributions during Ihe year of £2,703 from the charity12023= £2,504). The trustee was remunerated in consideration for their duties as Senior Pastor of the New Life Baptist Church Northallerton. Mrs J M Swain The trustee received no pension conlribulions during the year from the charity. 9 Independent examlner's remuneration 2024 2023 Examination of the financial statements 500 500 Page 21
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 10 Taxation The charity is a registered charity and is therefore exempt from taxation. 11 Tanglble fixed assets Furnlture and equipmènt Land and buildings Total Cost Al l January 2024 Additions 787,086 79,119 5,021 866,205 5,021 At 31 December 2024 787,086 84,140 871,226 Depreclatlon At 1 January 2024 Charge for the year At 31 December 2024 208,347 9,160 71,447 1,701 279,794 10,861 217,507 73,148 290,655 Net book value At 31 December 2024 569.579 10,992 580,571 586,411 At 31 December 2023 578,739 7,672 Included in Land and Buildings is £50,000 relating to land which is not depreciated. 12 Debtors 2024 2023 Prepayments Other debtors 2,352 16,366 18,718 1,460 15,529 16,989 Page 22
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 13Cash and cash equivalents 2024 2023 Cash on hand Cash at bank 83 107,579 107,662 100,376 100,376 14 Creditors: amounts falling due within one year 2024 2023 Bank loans Other taxation and social security Other creditors Accruals 9,645 104 257 6,022 16.028 8,533 5,419 13,952 15 Creditors: amounts falling due after one year 2024 2023 Bank loans 220,397 231,153 Page 23
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 16Funds Balance at1 January 2024 Balance at31 December 2024 Incoming Resources resources expended Transfers Unrestricted General 318.923 238,814 12,523 (232,815) {14,407 {10,841) {1,139 314,081 21,538 Designated Total unrestricted 24,561 343,484 122,473 251,337 {247,222) {11,980) 55,777) 11.980 335,619 127.621 Restricted 48.945 Total funds 465,957 300,282 302,999) 463.240 Balance at 31 December 2023 Balance at 1 January 2023 Incoming resources Resources expended Unrestricted Gener81 288,554 257,390 1227,021) (26,085 318,923 24,561 Designated Total unrestricted 30,316 20,330 318.870 277,720 48,909 {253,106) 61,0901 343,484 122,473 Restricted 134.654 Total funds 453,524 326,629 314,196 465,957 Page 24
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 17Analysis of net asset$ between funds 2024 Unrestricted General Designated Restrlcted Total funds Tangible fixed assels Current assets Current liabilities Creditors over 1 year 469,412 93,014 (16,0281 1220,397 326,001 873 18,158 110,286 7,922 580,571 119,094 {16,028) {220,397) 463,240 Total net assets 19,031 118,208 2023 Unrestricted General Designated Restrlcted Total funds Tangible fixed assets Current assets Current liabilities Creditors over 1 year 470,192 98,761 (13,952) (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 Page 25
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 18 Analysls of net funds At1 January 2024 At31 December 2024 Cash al bank and in hand 107,662 107,662 Atl January 2023 107,662 107,662 At31 December 2023 Nel debt Cash at bank and in hand 187,479 187.479 Nel debt 11 187,479 187,479 Page 26
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 19 staff costs The aggregate payroll cosls were as follows.. 2024 2023 Staff cost$ during the year were: Wages and salaries Social security costs Pension cosls other staff cosls 120,763 4,657 4,423 150 114,948 3,869 4,126 210 129,993 123,153 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year expressed as full lime equivalents Was as follows.. 2024 2023 No Directors Other salaried slaff Page 27
New Life Baptist Church Northallerton Notes to the Financial Statements for the Year Ended 31 December 2024 20 Net incomlngloutgoing resources Nel {outgoing)lincoming resources for the year include.. 2024 2023 Profiulloss) on disposal of fixed assets held for the charity's own use {1,487> 19,933 Depreciation of fixed assets 10.861) 21 Investment income Unrestrlcted funds Deslgnated General Restrlcted funds Total funds Interest receivable and similar income., Interest receivable on bank deposits 1,337 48 1,385 1,385 Total for 2024 1,337 48 Total for 2023 65 1,215 1.280 Page 28