Newport Pognell Boptlst Church CIO.. 1175783 TIILI GLI¥pLiI A Ing io MOPS Matt rooted F.BOYS' BRIGADE Annual Trustees Report and Financial Statements 31 December2023
Annual Trustees Report and Financial Statements Year ended 31 December 2023 CONTENTS Trustees Report ................. Senior Minister's Statement.. Building Development Committee Report.................................................................... Independent Examiner's Report................. Statement of Flnancial Activities... .10 .14 .16 Balance Sheet as at 31 December 2023.................................................................................. -17 Statement of Cash Flows for the Year Ended 31 December 2023............................................ -18 Notes to the Financial Statements..................... .19 Newport Pa8nell BastChurth, CIO 1175783
Annual Trustees Report and Flnancial Statements Year ended 31 December 2023 NeErt po[1 TRUSTEES REPORT The trustees present thelr report along with the financial statements forthe year ended 31 December 2023. This report and the financial statements comply with the Church's governin8 document, applicable law and the requirement5 of 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 IFRS1021 leffectlve ljanuary 20151. Constltutlon and Objerts Newport Pagnell Baptist Church I'lhe Church") has operated undera constitution dated 18, July 2017, amended 8" February 2021, and is registered with the Charities Commission as a Charitable Incorporated Organisation I CIO") Iregistration number 11757831 operating as 3 place of worship. The asset5 and liabilities of the original charity under which the Church operated Iregistrath)n number 11274161 were transferred to the CIO with effert I" January 2019. The primary function of our church is to follow Christ's example of serving our community, presenting people with the Christian gospel and enable them to live out their faiih as part of our Church and in their everyday living. We believe in the one true God who lives eternally in 3 persons- Father, Son, and Holy Spirit. Aligned to thi5 is our church vision statement.. To live out God's love os we grow together as L7family of disciple maker5. And our church values.. We orefamily We ore Bible-centred We ure Spirit-led We ore courogeous in mission We are generous We arefor everyone As God'5 people, Seeking to do life and farih together, our 8reatest challenge and opportunity 15 to find the appropriate balance between being an organisation that exists primarily for its members, an(1 one that exlsts primarily for those who are not its members. The address of the Church, whefe the trustees may be contacted, is Lovat Hall, Silver Street, Newport Pagnell, Buckin8hamshire MK16 OEJ. Or8anlsation Althou8h a member of the Baptist Union of Great Britain, Newport Pagnell Baptist Church Is Ilike most British Baptlst churches) an independent charity. The ultimate control of the Church is vested in the Church members. At the end of 2023, the Church had 18612022- 1801 members. The members meet at least flve tlmes a year to discharge their business responsibilities. Day to day management of the Churth's affairs is performed by the Minister and Elders. The church ceased to operate a diaconate from 19, April 2021 as approved by a Special Church Members Meeting. The number of Elders ts determlned by the Church Members, Meeting from time to time. Newport Pagnell Baptyst Church, CIO 1175783
Annual Trustees Report and Financial Statements Year ended 31 December 2023 The Ministers are employees of the Church, having been appointed by a Special Church Members, Meeting. The appointment is open-ended, but terminable by notice on either side. The following continued to serve as Trustees durin8 2022 continuing their period of Offl- Steve Wood Senior Minister Peter Young Associate Minister Emma Beaney Elder Margaret Mulwa Elder Andrew Brown Elder (term expired 24" April 20231 Sue Winship Elder Alex Mlllington Elder Publ1¢ benefit pollcy In planning and managing activities for the year the trustees pay due notice to the Charity Commission'5 guidance on public benefit. The church's activitie5 are offered to those interested and in need and are not restricted by ethnicity, gender, sexual orieniation, or religious belief. The trustees attempt to make sure that its building and activitFes are as accessible as possible. It is part of the church's objectives to provide Services open for all people in the Communtty. In this way the church provides benefft to its own member5. but also to the wider community we serve. Flnanclal Polbcles and Responslbllltles The church Sets out its financial policies and responsibilitr'es below. Policy on grants ondd¢)nollons ty the church The Church adopted its current policy on grants and donations in 2004. In summary.. The Church should maintain its level of 8ivin8 to the Baptist Union of Great Britain Home Mission appeal Ichannelled through the Central Baptist Association) and the BMS World Mission general appeal at the leve15 recommended by those charities. As their names imply the former concentrates its activities in this country whereas the latter is focussed on work outside the United Kingdom. l. The Church should set aslde IO% of total income for supporknng the work of other charities nominated ond agreed by the church meetr'ng. In additr'on to the Baptist Home MLS5ion and World Mission, in 2023 the church 5UPPOrted Bridgebuilder Trust and operated as a refuge for guests of the Winter Night Shelter covering the costs of such operation as part of this overall commitment. 2. Income or profits f¥om specific events may be donated to tharities whose objectives a closely aligned to those of the Church. 3. The Be a Blessin8 Fund continue5 to be open to receive funds for the benefit of membefs of the Church famlly in tinancial need. The Church made donations during 2023 of £54,58812022.. £35,222). Newport Pègnell Baptlstchurch, CIO 1175783
Annual Trustees Report and Financial Statement5 Year ended 31 December 2023 Investment Poli¢v The Church holds funds available for investment in liquid assets, prSmarily cash at bank, to ensure that these are available for use in the Church's charitable acts"vilies. These funds are held in Interest bearing deposit atcoun15 With instsnt access at reputable UK-re8ulated bankin8 institutions which refiect the Church's values and ethos and do not run counter to it5 aims. During 2023 the Church opened a new 3-month de$it accouni bearin8 a $18nilicantly higher rate of interest with the Baptist Union Corporation Limited. This account has a 3-month noiifi"cation policy on withdrawals wlthout suffering a penalty of the interest that would otherwise have accrued during that period. Rlsk Monogement In accordance with the principles outlined in the doctsment produced by the Charity Commission Charities and Risk - the Church maintains a Risk Register that is reviewed by the Trustees at leasl annually. It identifies threats to the church on reputational and financial bases. Each threat is quantithed in terms of the probability of the threat becoming an issue (actually occurringl and the severity of the effert of the issue. Both probability and severity are assessed as High, Medium, Low, Very Low. Should either probability or severity be rated as High, then mits'Eating or threat reduction processes are put into effect to lower the overall threat level. A monetary sum is held in reserve to offset costs associated with risk threats becoming issues. (See Reserves Policy) Reserves Pollcy The funds held in serye by the Church are base(l upon the following crfjterfia consldered by the Trustees, and with the current 5um5 re-alk)cated to each area for the 2022 linancial year.. l. Malntenance of services for beneficiaries- Commitments to individuals or organisations- £6,000 2. Mainteftance of servlces for beneficiaries- Employer obligations - £62,(KlO 3. Funding or loan covenants- None- £0 4. Planned commitments- reduction in room lethngs income during the construction of phase l of the building project- £20,000 5. Various unmitr'gated risks identr'fied in Risk Regi5ter- £I5,000-30,CKl The Reserves Policy is reviewed annually by the Trustees as part of the budget process. Current required Teserves as identified by the reserves poliry total £103,O00-118,a. At the end of 2023, the church has unrestricted reserves of £124,22212022.. £119,0191. Flnonciol Review Total income, including the building fund, has increased to £749,23212022.. £659,107) which includes grant income for the building project of £260,00012022'. £17.5001. Expenditure on achieving it5 charitable aims has remained relative consistent at £356,28812021'. £357,658). We are Brateful to all our 5UPPOrter5 and volunteers without whom this would not have been possible, and to God for His blessings and provision. Unrestricted income grew Substantially in the year to £291,422 12022.. £234,578) ettIng the growing church membership and 5ub5tantially c105ing the gap belween income and expenditure. The trustees are also pleased to report that for the h.rst time since 2019 the church returned to a position ewport P38nell Baptist Church, CIO 117S783
Annual Trustees Report and Financial Statements Year ended 31 December 2023 Newut Pagnl of positive cash generation on the general unrestricted funds of £10,06212022.. net expenditure of £20,9411 and that heading into 2024 the church has a balanced budget for the unrestricted funds. The Charrly ended the year with satisfactory levels of funds. The balance on the Building Fund currentlv stands at £1,062,435 12022.. £490,812) which sets the Charity up well at this stsge of its building development plans. General reserves are at an acceptable level of £117,86612022.. £111,783) which is following the Charity's reserves policy and provides fi.nancial strength to weatheranythnancial shock5 in the coming year, a5 well as providing the church with the ability to take advantage of opportunities should they arise. Tru5tees' responsibillties In relotson to thefinonclolstatements The Trustees are responsible for pparIng a Trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generallv Accepted Accountr'ng Practice). Applicable law requires the Charity Trustees to prepare financlal statements for each year whlch give a true and fair view of the state of affairs of the charity and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group forthat period. In preparing thefinancial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently observe the methods and principles in the Charltres SORP make judgemenis and estimates that are reasonable and prudent state whether applicable UK accounting standards have been followe(I, subject to any material departure5 disclosed and eKplalne(l in the financial statements- and prepare the fi.nancial statements on the going concern basis unless it is inappropriate to pSUMe that the charity will contr'nue In business. The Trustees are responsible for keeping proper accounting record5 that disclose wf(h reasonable accuracy at any time the fi'nancial p05iti.on of the Charity and to enable them to ensure that the financial statements comply with the Charthes Act 2011. They are also responsible for safeguarding the assets of the Charity hence taking aSOnable steps for the prevention and detertion of fraud and other irregularitr"es. Declaration The trustees declare that they have approved the trustees report above. Signed on behalf of the charity's trustees Reverend Stephen Paul Wood Chair of Trustees Dale- Newport Po8r*ll Baptlst Church, CIO 1175783
Annual Trustees Report and Financial Staternents Year ended 31 Detember 2023 rt Pne[L SENIOR MINISTER'S STATEMENT Overview.. a Continued season of transition Our 2022 report highlighted that we are In a period of transition. As we reflert on 2023, we see that this season of change has not only continued but, in sorne cases, deepened. With it, we are faced with a number of opportunities, but also a series of growing challenges. The siie, demographic and dynamic of the church continue5 to change. The numerical growth that began in 2022 has continued, with the church continuing to attrart those local to Newport Pagnell, but also more attendees coming from an increasingly wider geographical area. This Is actompanled by a notiteable change in attendance patterns for both the traditional Sunday serVIS and weekly 'Lrfe' groups as societal pressures and a perceived sense of 'busynes5' continues to intrease. The iesuh of thi5 is a growing extended church fami but one that is not always as vlsibly engage(l as might have been in the past. We are a 'busV church, and in 2023 continued to drive a number of good and important ministries or actlvitles. However, there is growlng recognltlon that we need to review these artivities to ensure they al leave enouEh space for our personal and collective walk wrth God, and bl that they continue to meet the needs of the existing church family, and community whtlst also addressing the specrfic opportunities and challenges that we're seeing. This is heightened by the growing awareness of imminent change within our communty, with 5,IK)O+ new houses scheduled to be buih in the immediate vlcinlty over the next 5 years. In the short ierm, this will require us to slow down for a season, to ensure we are placing our efforts in the right places. The NPBC DNA is often described as a warm welcome,. recognition that the care offered to those within the church family is significant. We have worked hard to maintain this in 2023, and its importance should not be underestimated - it ts part of what makes us, us.. and is a powerful way for us to live out God's love. However. the level of 'internal' change we've experienced means that we must be careful not to lose our missional heart. Currently. the emphasis is primarily on people coming to us to experience that warm welcome. We must not lose sight of the call and need also to 'Go". Pressures on the team have increased in 2023. Notably, the majority of these issues are not ministry based but are Concerned with our re50UTces, 5VStems and structures. The rapid and ongoing change we've experienced has placed significanl pressure on the way we do things- Staffing, administration, slte management, governance. These challenges cannot be fully separated from our specific ministrie5, but the approach required to address them is closer in nature to running an organisation, than it is to leading, discipling and caring for a community of God's people. 2023 has highlighted all of these challenges and opportunities and has forced us to reflect on who we are, and the organisation that God calling us to be in 2024 and beyond. The change required is significant, and it is clear that so much of what got Newport Pagnell Baptist Church to here, will not be Sufficient in and of rtself to carry it into the next season. However, as we reflect on 2023 and look ahead to 2024, we continue to feel blessed. As we commit ourselve5 to building the church that God is calling us to be. we continue to see His blessing, bringing us the resources we need people, wrth some incredible experience and skills, financial giving, enablin8 a more secure platform from which to grow, and a building that 15 on track for significant redevelopment in 2024-25. As we look ahead, our heart is simply to see all of that released, $0 that we Can serve God with increasing impact in this community. ReverendSP Wotsé 14ewport Pagnell Bast Chvrch, CIO 1175783
Annual Trustees Report and Financial Siatements Year ended 31 December 2023 With such si8nrfitant thange happenin& we set a theme for 2023 of Rooted, inspired by the words of Isaiah 37-.31-32.. "The surviving remnant of the house of Judah, shall again take root downward and bear fruit upward." Rooted. We began the year, feeling that God was calling us to go deeper in our relationship with Him through re-discovery of the life, teaching and identity of Jesus. In response, through our Sunday services and Life group5, and with a commitment to cover every verse. our two Pastors led us throuEh 97 Individual pieces of in-person and video teachin& guiding us through the first 20 chapters of Matthew's gospel. The Temaining 8 chapters will follow in 2024. Our Iwo Sunday seNices contlnued throughout the year, supplemented by Church Online, addltional worship evening5 and prayer sessions. The earlier Sunday Service continues to be a more reflective experience, driven in part by children's activities only being available at the later servlce. Both seNices are experiencing growth in numbers, with those attending the first tending to be more frequent and reBular in their attendance, than those who come to the second. We have been blessed in 2023 to see 2 people baptised and 9 new member5 - just a few of the indicators for us of people growing in their relationship with God. Another, of course, are the smaller, weekly Life groups that provide opportunities for church family to meet together in smaller groups. explore the Blble, pray and build latIOnShIpS together. At the start of the year, we were met with the challenge of an estimated 60% c05t increase for the building redevelopment, as well as learning that we needed to bring forward the replacement of the roof and windows in the main hall. In response. we committed to pray and together, to seek God'5 heart for the project. Not only did this resutt in the church's reaffirmation of the project, but a significant increase in glvlng too, alongside some important work from the team to secure grant funding. As a result, this transformational project remains on track. Youth ond Children's Work Our youth and chililren's work continues be driven across 3 key areas- Baseline Isunday evening51.' and Boys, and Girls, BriBade additionally supported by activities on a Sunday morning. All three of these gioups continue to thrive, albeit ongoing opportunity remains for increased integration and V15ibility. Whilst these mlnistries are focused on the children and yoh, we also continue to See healthy outputs from our Mothers of Preschoolers (MOPS) and Parent-Toddler groups, which place greater emphasis on the parents. MOP5 in particular is thriving, with a Spin-off Alpha Course having a significant impact on the Mums that attend. Food 4 Thought Food4Thou8ht, a monthly Sunday service and afternoon tea has also continued. We are encouraged by a new team that Is emerging to take this much-loved time into the next season, and hopefully increase the number of people who might benefrt from it. Winter Night Shelter Looking 0Wards. from January to March, and then again from November, a team of church and community volunteers came together to host those who would otherwise be 51eepinE rough during the winter months. This offering has now returned to pre-COVID ways of working and remains a life- Eiving weekty experience both for those who benefit from rt, and those who volunteer to make it happen. The church's kitchen has abo been used on an ongoing basis for volunteer5 to prepare food for the guests that is then used in other locations. Newport Pagnell Bapfjst Churth. CIO 1175783
Annual Trustees Report and Flnancbal Statements Year ended 31 December 2023 NpwportP¢¥ WelcomeMK Our support of the Afghan evatuees came to an end in 2023, at)d NPBC was able to celebrate the impact achieved through WelcomeMK, the umbrella organisation that Co-ordinated volunteer, church and charitable support to approximately 31)0 evacuees living across two hotels in Milton Keynes. Over the two years since their arrival, we have been blessed to see the Afghan people arrive and be welcomed into our community. In that period. many received permanent houslng and have been able to beEin a new life here in the United Kingdom. Our Senior Pastor, Steve Wood, was recognised for his efforts in leading this local response, and was named in the 2023 Kin¥s Honours, receNing a British Empire Medal. Other notable activities co-ordinated by the church include.. two significant financial offerings, faising a combined total of £30,000, glven In response to specific pastoral needs within the church. continued work with childien through school artivrties IEaster and Christmas Cracked) and alongside other churches in delivering our annual'Holiday Club, These two activities alone brought almost 500 children into the church building to experience interactive and educational sessions. tontinued role as both church and a community venue and facility, providing social connection and recreation. We remain home to over 30 regular user groups, benefittin8 everyone from babies to the elderty, and visited by more than 1,200 people a week. Included in this is iegular availabiliiy and support for NHS Blood Donor and NHS Baby Clinic sessions. In order to bear frult. As we look back at the13St year, and look ahead to the next. we recognise there are a number of areas that we'll need to continue or intrease our focus on in 2024 if we are to 'bear fruit, as effectively a5 wewould want to. The first is to remain rooted. The change we are experbencin8 ha5 now been our 'norm' Since the return from the pandemic. In this context, a closer everyday walk with God becomes even more important and we will need both to deepen in this area as a leadership team, as well encouraging the con8regation to do the same. In turn. this challenges us to consider who we are, and who God is callin8 US to be in this next season. A5 our church dynamic changes, and the community changes around us, it is so easy for us to try and be everything to everyone. However, our calling is to be who God wants us to be. We began to grapple with thi5 in 2023 and will need to continue our focus on it in 2024. In turn, this will give us clarity on the ministries we want to offer. and the resources needed to make them happen. 2023 further highlighted the increasing challenge on our leadership and staff team5. The workload for a small number of people ts no longer sustainable and require5 51Enificant effort to course correct. In June, our Senior Pastor took an unplanned 3 week5 of rest in response to that 8rowin8 pre55ure. Although an additional, temporary role was added to drive ¢ommunlcations Sn the latter part of the year. there were no other actions taken to build capatity over the 12-month period. This will require significant structural and cultural intervention in 2024 and will need to be a major focus for the year. We are blessed that our financièl health continues to improve. Although the Increased giving required for the building project represents a significant challenge, the response of the church to date in stepping out in faith, suggests that this will be possible. This of course, is not just a flnancial ask, however. The disruption caused to church lrfe as the building is transformed over the next two years Newport Pa8nell Bapfj5t Church, CIO 1175783
Annual Trustees Report and Financial Statements Year ended 31 December 2023 Newut Pogr will be considerable and will require intentionality to ensure we remain rooted and bearing fruit. even whilst in a temporary home. Closlng st*ement The volume and significance of the change we are facing into has often felt overwhelming during 2023. 2023 has deepened our relationship with God in the midst of that change. However, the drivers of the opportunities and challenges we fate are good things. We have been blessed since the return from the pandemic in a way that we know many other churches have not. We are grateful to God for that, whi15t also praying for those churches who are struggling. As we look ahead, we pray not only that we will remain rooted together in God. but that we will know His wisdom, @uidance and courage face into our organi5ational challenge5, and respond to the missional opportunities that are in front of us. We do this with hope, knowing that God is our rock and 15 the same yesterday, today and forever, despite the thing5 that may change around u5. Reverend Stephen Paul Wood 5enlor Minister Date.. 06. Lt- Newport Pa8nell 88PtiStChurch. CIO 1175783
Annual Trustees Report and Financial Statements Year ended 31 December 2023 ..rtPool BUILDING DEVELOPMENT COMMIThEE REPORT Profvtt Overvlew As well as being home to our church our buildin& Lovat Hall, is a venue for support, social connection and recreation for our community. It setves as a busy community centre and sports hall at the heart of the town, open to all. It is home to over 30 regular user groups. benefiting everyone from babies to the elderly. being visited by rnore than 1.200 people on avera8e each week. Many of these people come to enjoy activities initiated by the church family. including a parent and toddler group, support group for new mums, Brigades for youth and a free summer Holiday Club for local primary school children. It is also used as ernergenry accommodatr.on for the homeless in the winter months in partnership with our local night shelter. Many people also come to take part in activities such as badminton. table tennis. Zumba classe5, rneetings of the Fine Art Society and NHS blood donabon clinic5. Lovat Hall is showing signs of its age Ithe building 15 part 1940s. part 1970sl and the effects of decades of heavy daily use. Following several years of communityconsultations and plannin8, our buildin8 team are planning a phased redevelopment to ensure our de8radin& ener8y-inefficient building remains viable as a communily assèt with long-term sU5tainability. The redeveloped buildin8 will be both a home for our church and an essenttal faulity to enable us to love and Serve our comrnunity into the future. Whilst our vision includes a full redevelopment of the site. the financial challenges of doing this. have led us to separate the project into 4 distin¢t phases. PHASE I Replacement of the existing rear hall with a new two 5torey structure includin8 new entrance, rneeting rooms, new kitchen and plant room. Thi5 first phase of the project provides the greatest increase in Spa and will c05t an estimated £3.8m. These funds will be raised through a combination of church family giving, community fundraising, trusts and loans. PHASE 2 A new dedicated area for young children and youth activities (sited at the rear of the building) with the ground floor available for Potential future use by a pre4ehool In day-ttme hours. PHASE 3 Replacemeni of the exlsng offi¢es with a new two storey structure including a dedicated chapel space and meeting rooms. PHASE4 Redevelopment of the main hall. Phasè 4 Acceleratbon Our main hall roof is degrading rnore quickly than expected land than we had been advised) and it has become urgent to bring forward refurbishment work on this, for two key reasons.. The roof is no lon8er weathertight, with activities regularly now being impacted when it rainslfreezes. Energy price intièasès and a need to be environmentally responsible mean we must act ur8ently to address energy-inefficiency and implement options for ienewable energy. Newport Pagnell Baptisi Church, CIO 1175783 10
Annual Trustees Report and Financial Statements Year ended 31 December 2023 lwwrtPo9ndl This refurbishment Is now planned for surnmer 2024 and involves replacing a leakin8 asbestO$ Sheet roof with a new rooflinsulated ceiling, upgrading of windows and installatton of solar panels with a battery system to provide renewable energy for the 51te. Financial Report STATEMENT OF FINANCIAL ACTIVITIES- BUILDING DEVELOPMENT FUND 2023 2022 Resrricted Funds Restricted Funds ltt¢ome Donaiions & ga¢le$ Othertradlngactl1les Inve5tfflen15 Otherillcotne Totallncomt 402.604 2.974 17.785 13 423.375 409.079 1.639 172 410.935 Exptndltur¢ Raisingfunds Chaiitableactiwlie$ Otherexpenuiture Prlor Yeèr LHDC Cor¢110n Totalexpendltuie 21.606 7.255 74,179 1184.4641 1157.7721 81. Incom¢lÈss¢xp¢nOliyre se1,7 329,501 Tiam$fer5 bOtwothnfvn¢15 FundstiènsfeTS Totaltiansfers bemenfuttds 19,5241 19,5241 148,0991 14B.0951 Netmovemantihfund$ 571.623 281.402 Further analysis of the donats"ons, grants and legacies to the fund is as follows.. Donatlons&ft9 ReÉulai Givin8 GIftAd Ad Hoc Donatknns Granislncome TotslDonatlons&glfts 2023 93,075 20,243 29,265 260,000 402,604 2022 70,876 70,223 252,980 15,000 409,079 Regular giving from the church family increased by 31% in the year as the church pressed ahead to the regular giving target of £9,500 per month by the time the project building work commences and to ensure that giving plus Gift Aid is sufficient to service the costs of the loan the church intends to take out as part of the funding for the project. Newport Pa8nell Baptist Church, CIO 1175783 11
Annual Trustees Report and Financial Statements Year ended 31 December 2023 Po9T Signih"¢anily in 2023 the church secured its first major grant funding for the project in the form of a £260,000 grant from the Benefact Trust. The receipt of this grant 15 nol only a significant blessing but also a significant portion of the target grant funding for Phase l of the build. As a result of the acceleratlon of Phase 4, by the end of 2023 the fund raising team were signih"¢antly focused on r3i5in8 funds for that aspect of the project which is on track to commènte building works In July 2024. 8AiANCE SHEET- BUILDING FUND 2Q23 2022 Restncte Funds Restricted Funds FlxedAss¢t$ TanÉibleAssets Inve51ments TolalFlx?dA55ets 239,336 loo 235A36 loo 100 CuirentAssets Debiof5 Cash ai bankand In hènd TotalCurrentAsseis 5,586 817.689 823,275 8.141 484.655 ¢redlt0r5=3Mol5 lailJn¢due thlnoneyear Crediioi$-. amounts < iyear Totalcredltors.. amountsfalUn8 duelthIn onEy2ar 276 276 2.083 2.083 NetCuFrentAssets ILlablllVesl 822.999 4.712 Tot8lAsSetsl855 CuTh8nt Uabllltles 1.062A35 490M12 NtAs$ 1,061435 Net assets for the building fund continued to increase signifi.cantly in 2023 representing the net increase in funds of £571,623 in the year. This increase included a significant adjustment to the financial statements as it was identihed that expenditure of £184.464 on the planning and architects fees had been expenses in prior years rather than being held as a work in progress balance on the balan sheet to be depreciated once the asset has hnished construction. At the end of 2023 the church was holding £817.689 of funds on a 3-month notice dep051t account with the Baptist Union Corporation Limited paying an interest rate of 4.5%. Debtors at the period end relate to funds due back from Newport Pagnell Baptist Church Development Lirnited INP8CDLI under a Deed of Covenant whereby monies sent to NPBCDL In connection with the design and build contract but not Spent by the end of the year are returned to NPBC to ensure NPBCOL does not make a financial gain or105s in connectson with that design and build contra¢t. The balance of debtors are recoverable Gift Aid at the end of the period. Newport Pagnell Bapi(st Church, CIO 1175783 12
Annual Trustees Report and Financial Statements Yearended 31 December 2023 . W..rl Pwnpu CASH FLOW- WILDING DEVELOPMENT FUND 2W Aeslricle Funus Resiiicied FLd$ 14etC¥5hfrofflowaii atrfvitb•s ¢hIroMISfknI1¢t Purchèseoiianb1e Ilxed asse PrloryearLHDCcoireciion N¢tCash Irthn In¥e511 li1eS 154.8721 1184.4641 1239J361 C15hfiDm Iln•nciniadfvmes 17,785 1.639 IIEtGashfromfln•n¢lrf Ilvllles 17.n5 Chtys In¢a$h Inthtyear I711 (eniniea5h and cash equfvalems IvaiÈnt¥ 817 Cash balances increased bya total £333.034 In the year12022.' £283,721). Expendrture onfkxed assets totalled £54,872 In the year and the correction of £184.464 recorded in the hnancial statement for 2023 refiects expenditure on assets in prevKJus financial Trtars that was incorrectty expensed In those accourfs. Summary While the church Is holding 5ignih.cant cash balances towards the development of Lovat Hall, there 15 str"Il a long way to go to fully Secu the total £3.8m required to complete ihe building project. Trustees are currently expk)rin8 spdnificant loan fvndFnB to bridge the gap between ftjnds held and funds required and funher caprtal appea are scheduled for2024. The building development committee are pleased to report that the project is ¢urrentfy on track and empeu phase I to be fulty funded by the end of QI 2025 before the build commences through further anttcipated grant fuThding support whl¢h wlll be applied for dtsrin8 2024 and Certain other identified sources of funding. David Beaney Chalr of Bulldln8 Development Cornmlttee Date.. 14vwport Pa8hell 8apti5tChwch, CKJ 1175783
Annual Trustees Report and Financial Statements Year ended 31 December 2023 INDEPENDENT EXAMINER'S REPORT Independent Examiner's Report to the Trustees of Newport Plgnell Baptist Church Year ended 31 Decembef 2023 I report on the fi.nancial statements for the year ended 31 December 2023, which comprise the statement of financial activities, statement of financial position and the related notes. Respertive responsibilities of trustees and examiner The trustees are responsible for the preparation of the thnancial statements. I report in respect of my examination of the Charity's accounts carried OLtt under section 145 of the 2011 Art and in carrying out my examination I have followed all the applicable Dirertions given by the Charity Commission under section 14515llbl of the Act Independent examlner's statement have completed my examination. I confirm that no material matter5 have come to my attention in connection with the examination giving me cause to believe that in any material respect= accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or the accounts do not aCCOTd with those records,. or the accounts do not comply with the applicable requirements tonterning the form and content of account5 set out in the Charities (Accounts and Report51 Regulations 2008 other than any requifement that the account5 give a 'true and fair. view which is not a matter consideied as part of an independent e¥aminaD"on. I have no concerns and have Come across no other matters in connecrion with the examinat'ot) to which attentr'on should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Coral Tolley-Fletcher FCCA kfv Chartered Certithed accountant 114 High Street Cranfield Bedfordshire MK43 ODG 24 June 2024 Newporr Pa8nell 8aptist Church. CIO 1175783
Annual Trustees Report and Flnanclal Statements Year ended 31 December 2023 NÈwulPoonell Newport Pa8nell Baptist Church, CIO 1175783
Annual Trustees Report and Financi31 Statements Year ended 31 December 2023 STATEMENT OF FINANCIAL AcfiviTIES 2023 2022. Uniestrlcted Ae51rlcted Funds Fund5 AU Funds Unrestrlcied Resirtcied Funds Funds AU Funtts Income Donations& iega¢ie5 otherlradingactwitles nvestment5 Olher Income TotalInrne 231.811 55.699 4,112 436.530 3,478 17.790 13 668.140 59.177 21.WJ2 13 187.047 46.972 559 415.451 2.935 1,639 IT2 602.497 49.? 2.198 172 291A22 457,810 749.232 234,$78 420.197 654.774 EXpeThdItre Ra151ngiun(Js 4,186 276.854 16,237 21,608 37.403 25,794 314.257 16.237 1184,4641 1184,4641 297.277 1125.4531 171.824 5,778 241.722 16,614 7,278 86,285 327.987 16,614 Olheiexpendiitsre Prioryear LHDC Correction Totalexpendlture 204,114 93,644 367.65B Income iessexpendlture 1S,8551 583363 577,408 I2930) 326,653 297.116 Tran51er5 belweenfund5 Fundstr8nsler$ Totsltransfers between lunds io 9.204 9,204 19,2041 19,2041 48.099 148.0991 48.W 148.0991 Othei recognlsed galnslllossesl 31,BOO 31,800 31,B(K) 31.80(1 Totaltsthergolns1110$5es1 Netmovement In lunds 3.349 574.059 Sn.408 50.363 278.554 328.916 A number of mlnor clasS[h¢ations of both income and eypenditure have taken place in 2023 resulting in some minor changes to the 2022 comparatives as compared to the examined accounts for 31 December 2022. Total Income and Total Expenditure remain unaltere(l. Newport Pa8nell Baptist Church, CIO 1175783 16
Annual Trustees Report and Financial Statements Year ended 31 December 2023 NewpDrLPogrll BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Unrestricie¢J Restricted Fun(JS Funijs AIIFunO$ Unrestri¢ted Restncted Funds FuntJS AiIFunds FlxedA55et5 Tangible Asseis Investments TotalF¢xed Asset5 140,835 239,3 i(M) 380.172 loo 380,272 142.689 142.689 l(M) loo 140.835 239.436 142,689 IOD 142.789 CuThentAssets Oebiors Cash atbank and In hand TotalCurientA$$et$ 6,792 124.112 0,905 5,9B5 825,96B 031.953 12.777 950,080 962.857 8,249 492.326 500.576 17,694 606,376 624.070 114.050 123,495 Credltors: amoLtnt$falllng duewlthln on¢ye¥r Cieollors.. amounts < iyoar Total Credltots-. •mot5 lalllngduewlthln oneyear 6.683 6.613 1,290 1,290 7,972 7,972 4.475 4A75 4.635 4.635 9,111 9,111 NetCurrentAsset$ 124.222 830,663 954085 49&940 614,960 TotalAsset$ le$$Cufftnt 265.057 1.07C,I)99 L336,157 261,708 496.040 757.748 NetA5sets 265,057 1.070.099 1.33&157 261.70B 496,040 757,748 Capltaiand Reserves Prohtznd loss account 265.057 1,070,099 1,335,157 261.708 496.040 757,748 Totalcapltaland Rese05 285.057 1.(t70.099 1,335,157 261.7118 490.040 757,748 The notes on page5 19 to 28 form part of these accounts Approved by the Trustees and signed on their behalf by.. Reven Stephen P3uI Wood Chalr ol Trustees Date: Newport Pagnell Baptist Church, CIO 1175783
Annual Trustees Report and Financial Statements Year ended 31 December 2023 ¢url P¢yJndl STATEMENT OF CASH FLOWS FOR THE YEAR ENOED 31 DECEMBER 2023 2023 Unrestricted ResiThcied Fund5 Funds 2022 Unrestdcted Restdcted Funds Funds All Fund5 All Funds Net ¢ash Irom OPEratln¢ actlvltles 20.334 $55,188 S75.522 27.534 28L520 309.1153 ¢a$hfrom In%*stl actfvhie5 Pur¢haseoltan&bie fired asseis Prloryear LHtK corie¢tion Net cashfrom lTrvestlTrg actltIeS 114.3841 154.8721 169.2561 149,0331 149.0331 IIB4.4641 1184.4641 I81} 1239.3361 1253.7201 149.0331 149.0331 eashfromllnanclnÉ Inierest Income Netcashfromflnanclng actSvStles 4.112 17.790 21.902 559 1,639 2.198 4.112 17.790 21.9Q2 559 1.639 Changes In¢ash Intheyear 10,062 333.642 343,704 120.9411 28&158 262218 Oppningca5h anij cash 114.050 492,326 606,376 134,991 209.168 344,159 C1051n¢ cash and cash equlvalents 124.112 825,968 950.080 iU.050 492.326 606J76 ANALYSIS OF CASH AND CASH EQUIVALENTS 01-lan-2023 Cashflow 31-Dec-2023 Cuirenta¢count$ Shorttemi deposit accounts Notl¢e depositaccounts 15.537 SW),B40 4.211 1SS8,1181 897.610 19.748 32,722 897.610 Cio$lng¢a$hand¢a$h equbvaients 606,376 950.080 Newport PaÉnell Baptist Churth, CIO 1175783 18
Annual Trustees Report and Financial Statements Year ended 31 December 2023 NOTES TO THE FINANCIAL STATEMENT5 N¢te i- Accounting pollcSes {al Basis ol accOunn6 The financial statements have been prepared under the historical cost convention and in accordance with Accounting and Reporhng by Charities.. Statement of Recommended Practice applicable to charitr.es preparing theiraccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021 leffective l January 20151- (Charitie5 SORP IFRS10211 and the Charities Act 2011. Basis of consolldation The group financial statements con501idate those of the Charity and its subsidiaiy undertaking (see note 71 drawn up to 31 December 2023. The results of the Charity'5 non-charitable trading subsidiary have been incorporated on a line-by-line ba515. Surpluses or deficits on intra-group transactions have been eliminated in full. Goln8 concern These financial statements have been prepared on a going concern basis. In¢omln8 resources All monetary donations and gtfts are included in full in the statements of financial activities when re1Vable. The value of services provided by volunteers has not been included. Donations under Gift Aid. together with the associated income tax recoveries, are credited as income when donations are receivable. Investment income is recognised when receivable. Ibl {cl {el Resources expended Resources expended are charged in the Statement of Financial Activities on an accrual's basis, inclusive of VAT which cannot be recovered. Tanglble fixed assets Tangible fixed assets are capitalised at C05t and depreciated on a 5traight- line basis over the followrng estimated useful lives= FehOld building ILovat Hall) 25 years Fixtures, fittings, and equipment 5-10 years Plant arbd machinery 5-10 years No value has been attributed to the freehold land on which Lovat Hall stand5 in view of the restrictions placed upon its alternative use by planning consent5, its locatr.on and condition. Assets lor groups of assets) costing less than £500 are not capitalised. Debtors Short term debtors are measured at transaction price, less any Impairment. Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 30 days. Credltors Short term creditors are measured at transaction price. Pension costs The Church is an employer participating in a pension scheme known a5 the Baptist Pension Scheme 1.the Scheme"). The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptr'st Pension Trust Limited). The Ministerlsl are eliBible to join the Scheme, which is not contracted out of the State Second Pension. The Scheme, previousty known as the Baptist Ministers, Pension Fund, started in 1925. but was closed to future accrual of defi.ned benefits on 31 December 2011. Prior to this date the main benefit provided through the Deh"ned Benefit IDBI Plan was a pension of one eightr.eth of final minimum pensionable income for each year of pensbonable service together with additional pension in respect of premiums paid on Pensionable Income in excess of Minirnum Pensionable Income. (fj Igl Ihl til Newport Pagnell Baptist Church. CIO 1175783
Annual Trustees Report and Financlal Statements Year ended 31 December 2023 From January 2012. pension provision is being made through the Deth"ned Contribution (DCI Plan within the Scheme. In general. members pay 8% of their Pensionable Income and employers pay 6% of members, Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Legal and General Life Assurance Society Limited. In addition, the employer pays a further 4% of Pensionable Income lor 3% if the employer is in the segregated DC section) to cover Death in Service Benefi"ts, administration costs, and an associated insurance polity which provides income protection for Scheme membeTS in the event that they are unable to work due to long-term incapactty. This income protection policy has been insured by the Baplist Union of Great Britain with Unum Limited. Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%. Actuarial valuation a5 at 31 Oecemher 2019 A formal valuation of the DB Plan as at 31 December 2019 was carried out by a professionallv qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan a55ets was £298 million, whilst the level of assets needed to pay benefits was £316m, givlng a deficii of £18m (equivalent to a past service funding level of 94%). The Church and the other participating employer5 in the DB Plan are collectively responsible for funding this deficit. The key financlal assumptlons underlying the valuation were as follows Type of assumptlon RPI price inflation assumption CPI price inflation assurnption Minimum Pensionable Income Increase Adjustment (above CPI) Pre-retirement assumed investment returns (gilt yield plus 1.75% pal Post retirement assumed investment returns lincluding benefits matched bv the insurance policy) Igilt yield plus 0.5% pal Minimum Pensionable Income increases ICPI plus 0.5%) Deferred pension increases (based on RPII Pre April 2009 Post April 2009 Pension increases % p.a. 3.20 2.70 0.50 2.95 1.70 3.20 3.20 2.50 Based on CPI wlth an annual floor of 0% and annual cap of 5% Mortality is assumed in a¢¢ordance with 80% of the $3NA standard mortality table. Future improvements projected from 2013 in line with the "CMI 2019" projection with a long-term rate of improvement of 1.75% p.a. for males and 1.5% p.a. for females with the core smoothing parameter and with additional initial mortality improvement factor A=0.5%. The next actuarial valuation of the DB Plan within the Scheme will commence In 2023 to reflect the position as at 31 December 2022 2.70 Newport Pasnell Baptistchurch, CIO 1175783 20
Annual Trustees Report and Financial Statements Year ended 31 December 2023 Recovery Plan In addthon to the contributions to the DC Plan set out above, where a valuation of the DB Plan revea15 a deficit the Trustee and the Countll agree to a rate of deficiency contributions from churches and other employefs involved ifb the DB Plan. Following the 2019 valuation a Recovery Plan was signed in September 2020 under which deficiency contributions are payable until June 2026. These contributions were broadly based on each employer's membership at 31 December 2014 and Increase annually in line with increases to Minimum Pensionable Income as defined In the Rules. On 30th June 2022 the Baptist Pension Scheme signed an agreement wtth the insurance company Just Group I"Just"I to secure DB Plan members. pension benefit5. Just are now providing financial backing for all pensions provided through the Scheme's DB Plan and following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contrlbutions from each particlpating employer in the DB Plan reduced to £1 per month fiom Au8USt 2022. Fund accounting Charity law require5 the net assets of the Church to be accounted for within a number of fun¢J5. Unrestricted fund$ These a fund5 that can be used in accordance with the Church's charitable objectives at the discretion of the trustees. The General Fund- this is the fund through which the general activities of the Church are recognised. Designated Funds - these are funds set aside by the trustees out of unrestricted general funds for 5pecrfic future purposes or projects. The Church operates the following designated fund5. The fixed assets fund represents the net book value of tangible fixed assets. Bethany never restarted after COVID and funds were released to the General Fund Food4Thought is a day time church service centred around a me81 together Boys, Brigade. and Girls, Brigade (youth organlsaiionsl Parent & Toddler Group Food4Thought ITnonthly afternoon service and tea for the elderly) MOPS (Mothers of pre-school age childrenl Restricted funds These are funds that can only be used for particular restricted purposes within the Church's objects. Restrith"ons arise when specthed by the donor or when funds are raised for particular purposes. The Church operates the following restricted funds. Income Funds- These are expendable funds of which the Church ha5 the following. The income and expenditure of these funds is shown in the restricted fund colurnn of the notes The Charity Appeals Fund is used to administer donations payable to institutions and projects other than those amounts paid from the general fund. The Be a Blesslng Fund exists to provide help to people in the church family and wider community in financial nee¢J. The Buildings Fund exists to admlnisier income and expenditure related to the Buildings Development Project. Endowment Icapitall Funds-These are permanent funds. The Church has no funds in this Category. Newport Pagnell Bèptistchurch, CIO 1175783
Annual Trustees Report and Financial Statement5 Year ended 31 December 2023 Nèwut P4)Jnell Note 2- Analysls of Income 2023 2022 Unrestrlcted Resiricied Funds Funds Unre5tricied Besiricted Funijs Funds Ail Funds AiIFunds Donatlon5& legacles Gifts Irom church family Gllts Irom membeis ol u5er4ioups Grants Income Tot8lDonaiions & leg8cles 222.778 8,833 176.530 399.307 8,833 260,000 668,140 IW)264 6.783 397,951 578.214 6,783 17,500 602.497 280,000 436.530 17.500 415.451 231.611 187.047 Olheitradli*a¢t1Iles Saleol8oodsand servlce5 Incomefrom event5 Lettings income Totalolher Iradlng3Ctlvlties 4,840 10,071 40,786 55,699 952 2,526 5,791 12,597 40.788 59.1 4.086 8.679 34,207 46.972 2.935 7.021 8,679 34,207 49,7 3,478 2.935 Itwesttnents 4,112 4,112 17,790 17,790 21,902 21,902 559 1.629 1.639 2.198 2,198 Total Investtnenrs 559 Othewlncome Procppds fTOtn sale of a5set$ Totalothei Income 13 13 172 172 172 172 13 13 TOTALINCOME 291,422 457.810 749,232 23478 420.197 6¥774 Newporr Pa8rell Bapti5tChurch. CIO 1175783
Annual Trustees Report and Financial Statements Year ended 31 December 2023 Note 3-Analysls of Expendlture 2023 2022 UnrÈsirl¢ied Resin¢ied Fun#s Fvnfls AIIFunds Fvnd5 Fund5 AU Funds RaIslFUnS Fundiaislgcosts Goods sold Social events Card procèssingchaige5 Total RaisSng Funds 40 20.983 21,023 1,255 2.888 628 7.063 7,083 1.255 2,434 458 1,225 4.026 525 454 170 4.028 720 13.056 195 7.278 4,186 21.608 25.794 5.778 CharltableActllles Staff costs Wages. stipends & allowances Othei Stalling rotalsraff cosrs Mtsslon DonaiKJns Olher N15$10n Totalmission Dlsclpleshlp Youlhwork (Xherdisclpleship Totalthsciplesh hurch-ledvse¥woup5 Bngades oihergroups Totsichurch-18dus8rgmups 1&3,176 183,176 160.625 160.625 2,694 285,869 2,694 J85,869 49 49 160,674 160,674 22,427 425 32.162 54,588 425 55,013 23.136 12,086 35,X2 22,851 32.162 23,139 12.086 35225 1,207 2.758 3,966 Iss 1.363 2.758 4.121 1,440 3.227 4,667 1.440 3,227 4.667 155 13,308 2,280 15,589 13.308 2,280 1&689 11.058 362 21,419 11.058 362 11.419 Opèrotions Premlses 11,563 37.016 5,086 16,649 37.016 12,236 29.586 73,999 180 86.236 29,766 TotslCharitsbleAcii¥llles 276,854 37,403 314.257 241,722 86.265 327.987 Other Depreciation Total Othei 16,237 16,237 16.237 16,237 16.614 16,614 16.614 16.614 Correctlons Prioryeèr LHDC Correciion Totalcorreciions 1184,4641 1184,4641 1184.4641 1184.4641 TOTAL EXPENDifuRE 297,277 1125A531 171.824 264,114 93.544 357.658 ewport Pa8nell 8apt(st Church. CIO 1175783
Annual Trustees Report and Financial Statements Year ended 31 December 2023 Note 4- Tanglble fixed Assets Land & 8ulidlngs Land & Fi¥tures Flttings and Equipment piant3nd Mèchinery TOTAL wip CostOl-Jafv2023 212.607 9,178 25,288 1,836 89,271 3,370 327,166 69,256 184.464 54,872 184,464 Prioryear LHW Correcllon Transl&rs between categories D15posa15 C0$131-Oec-2023 221.785 239,336 27.124 92,fj41 580,885 Depre¢iatlon 01-JaTr2023 Chaigetortheyeèr Transters beThveen caieEories Dlsposats DepFeciaiion 31-Dec-2023 134,827 4.849 15,140 1,824 34,511 9.564 184,477 16.237 139.675 16.964 44.075 200,714 NBVOI-JaTr2023 77,780 io. $4,760 142,689 NBV31.Dec-2023 8lllO 239.336 10.160 48e6 380,172 Included within Land and Building WIP are monies that have been spent In connettion with the Church Buildillg Project and the Church Refurbishment Project. These assets a Currently under construction and $0 depreciation has not commenced in the year. During the year the trustee5 identified an error In connection with the last 3 years of financlal statements whereby eypenditure on the Church Building Project had been expensed through the restricted funds of the church rather than showing as an asset under construction. The impact of this error is that during the year the trustee5 have recognised a gain of £184,464 through the restricted funds and a now holding thi5 balance as WIP in Fixed Assets untrl the project is completed. Note S- Personnel Costs 2023 2022 Ministry Stsft Support Stslf Total Staff Mifiistry Stsff Support Stafl Total stall Fulltime ParttSme TOTALSTAFFNUMBERS During the year the church temporarily took on an addition31 member of part time stsff to help drive the updates to the website and help create a communications strategy for the Church. Newport Pagnell 83pti5t Church, CIO 1175783 24
Annual Trustees Report and Financial Statements Year ended 31 December 2023 2023 2022 Mlnisiry Support 51all Toial siaff Mlnl$try Supporr TDlal Staff 5alarle$ and wages Accommodation costs National insurance coninblonS Penslon ¢ontrItylons Annual employment allowance 57.060 30.386 7,816 8.654 13.1731 73.158 130,217 30.386 12.318 15,255 15.0001 53,111 26,215 7.588 10,528 13.3881 111.333 26,215 11.200 16.877 15,0001 4.501 6.601 11.8271 3.611 6.349 11,6121 TOTALWAGES&ALLOWANCES 100,743 92.433 183.176 94.064 8670 160,625 2023 2022 Mlnls Staff Support sialf Tot81 Minisity Staff Support Staff Total Siaff 5alailes andw8ges Trainingcos15 Traveland otnerexpenses 100.743 2.201 493 82.433 183,176 2.201 493 94,054 Is 34 66.57 ieo.625 15 TOTAI PERSONNELCOSTS 103.436 82,433 185,869 9{104 6670 160.674 Two trustees. Mr Peter Young and Rev. Steve Wood, received remuneration in the year in connection with their roles as Associate Minister and Senior Minister respectively. They were entitled to receive travelling expenses in connection with their roles whlch We detlined except in connection with Mr Young's ongoing studies at Spurgeon's College in London as he ha5 commenced hi5 Minister in Training piogramme which he is undertaking alongside a Masters in Theo108Y. Except as stated above no trustee or connected person has received remuneration or expenses requirin8 disclosure In additr.on to the employee costs disclosed above as required by the SORP, certain other costs have been tlassified a5 personnel costs (including volunteers expenses1. NewpDrt Pagnell Baptist Church, CIO 1175783
Annual Trustees Report and Financial Statements Year ended 31 December 2023 rt pne(l Nots 6- Donations Made 2023 2022 Unrestricted Re51rlcted Funds Funds AIIFunds Unrestii¢teJ Rèstricted FuNd5 Fund5 AU Fund5 Baptist Home MIssiDll Bapiisi Woild MlSSlOn Mlllvn Keynes BrldgbuliderTrust Wliien Hosplce Wlnier Nlghl ShelterMK Praciicai$uppvrt Inthe communlty Welcome MK Thrlve Uganda NPBC COVID Response 9.225 9,225 3.420 332 9,22S 9,225 3.420 332 9.225 9,225 3,420 669 9.225 9.419 3.420 669 194 225 31.343 31.568 661 1.740 2.401 275 275 6.890 1.185 2.013 6,890 1.185 2,013 544 TOTAL DONATIONS 22.701 31.087 54.588 23,200 12,022 Note 7- Investments In Subsidlarle5 2023 2022 Uniesirlcted ResirScted Funds Funds Unrestrlcted Restflcted Funds Funds AUFund$ AIIFund5 NPBC Developrnent 100 loo loo 100 TOTALINVESTMEt4TS loo loo INJ During 2019, the Charity incorporated a subsidiary undertèking, Newport Pagnell Baptist Church Development Ltd. The carrying value of the investment of £10012022..£100I consists of the cost of 100 ordinary shares of £1 each, being 100% of the issued share capital in Newport Pagnell Baptist Church Development Ltd, which provides development services io the charity. Note 8- Analysls of Debtors 2023 2022 Uniestritteo Restricted Funds Fund5 All Funds Unresiil¢ted Re5tncted Funds Funds All Funds Debtors Recoverable GIftd Prepayments ano a¢¢rued Income 1,935 3,556 1.301 3,971 2,013 5.906 5.570 1,301 2,591 4,598 3.651 7.189 9.296 1.208 L,208 TOTALDE8TORS 6,792 5M5 12,777 17,694 Newport Pa8nell Bapfjst Churth, CIO 1175783
Annual Trustees Report and Financial Statements Year ended 31 December 2023 .ttycft Pogr*U Note 9- Analy51s of Credltors 2023 2022 Unresiil¢red Restiicte Funds Funds Unre5tricred Restricied Funds Funds Ail FuRd5 AIIFund5 Accounis Payable PAYEINI Liability Pension Liability Charfty 3.617 2.952 113 290 3.907 2.952 112 1,951 2.525 4,105 6,056 2,525 1.000 1.000 530 530 TOTALCREDITORS 1.290 7.972 4N75 4.835 9.111 Note 10- Movement in Funds Balance at 01-Jan- 2023 Income Expendllvie Gain53nd 105ses Balan¢e at 31-Dec- 2022 General Fund Assets Uniestrlcied Funds 111.783 142.689 254,471 272,169 1264.1201 116,2371 1280,3561 11,9661 14,384 12,418 117,866 140.835 258.702 272,169 Bethany 8oys 8rigade Food4Thought Gir15 8ngade MOPS Pareni&Toddler Deslgnaied Funds 1,914 11.9141 loo 11.764 621 4,119 955 1,794 19.253 111,1621 18451 13,4021 16611 18501 116.9201 641 1,966 938 640 1,840 7.237 1,742 1,855 434 1,684 21)0 Isooi ii.iooi 13,2141 Total Unrestrbcted Futhd$ 261,708 291A22 1297.27YI 9.204 265,057 Charlty Be8 Blessing BulldingFund Restrlcted Funds 232 4,997 490,812 496,040 12751 132.fJ441 157.772 125.453 119 200 19.5241 192041 34.511 423,375 457,810 7.664 I,fh2,43S 1.070.099 TOTAL FUNDS 757.748 749232 1171.8241 1235.157 Newport Pagnell 8apti5t Church, CIO 1175783
Annual Trustees Report and Financlal Statements Year ended 31 December 2023 Npw&rtPts9ndl Note 11- Related Party Transactions Transattions with other Baptist bodies Newport Pagnell Baptist Church is an independent charity. The custodian Trustee of Lovèt Hall is the Baptrst Union Corporation Limited which is charfity number 249635. and which is controlled by the Bapfjst Union Council. No fees are payable for this service. The church is also a member of the Baptist Union of Great Brf(ain, and the Central Baptist A55ociation. The church incorporated a development company, Newport Pagnell Baptist Church Development Limited (company number 119348411, in 2019 with the purpose of undertaking a design and bLrild contract for the development of the church building. Certain payments were made to this company in connecnon with that contract. uniestrfcted De5ignaied Restrtcted Funds Funds Funds Total 2023 Total 2022 Subscnplion to Bapiisi Unlon of Great Biiraln Donations madetothe BU Home Nisslon Donaiions made io IhÈ BU Worl¢ M155Ion Insurance provided by Bap1151 Insurance Coy.PLC Paymenis to Baptlsl Minister5. Pension Fun Payment5 to NPBC Oevelopment Lt 967 9,225 9,225 967 9.225 9,225 2.466 12 46,191 853 9.225 9,419 2,166 10.534 65.402 46,191 TOTAL FUMDS 46,191 68,085 97,599 Note 12- Reconclllatlon ol net cash from operating acttvltles 2023 Uniestrlcied Resirlcted Fund5 Funds 2022 umsttte0 Restncteij Funds Funds AiIFunO$ AiIFuRds Netmo¥ement In lund$ 3W 574,059 57YMOB 50.303 270.554 328.916 Adlustmentsfow-. DpprecialK)n Interest income leol Ilxed assets Iln¢iea5elldecrease In debtors Increase i l(kcrea5el In tditOrS Increasei Ioecreasel in rovlslons Totaladlustmenis 16.237 16.237 14,1121 117,7901 121.*)21 16,614 15591 16,614 12,1981 11,6391 1652 2,265 4,917 12.0241 203 11,8211 2,207 13,3461 11.1381 15,0611 4,402 16591 131.8001 131.8001 16,984 118,8711 11,8861 122,8291 119.8631 Net ¢ashlromoperatlnq al¥Ie$ 20.334 555.188 575.522 27,534 281,520 309.053 Newport Pagnell Baptist Church, CIO 1175783 28