Newport Pognell
Boptlst Church
CIO.. 1175783
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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 Ba￿stChurth, 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,C￿Kl
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 Pagn￿l
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 p￿parIng 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
p￿SUMe 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 P￿ne[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 serVI￿S 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 Ba￿st 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 yo￿h, 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 0￿Wards. 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
..*rtPoo￿l
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 exls*ng 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
l*wwrtPo9ndl
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$
Othertradlngact￿l1les
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=3Mo￿l5 lailJn¢due
thlnoneyear
Crediioi$-. amounts < iyear
Totalcredltors.. amountsfalUn8
duel￿thIn onEy2ar
276
276
2.083
2.083
NetCuFrentAssets ILlablllVesl
822.999
4*.712
Tot8lAsSetsl855 CuTh8nt
Uabllltles
1.062A35
490M12
N*tAs$
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
FL￿d$
14etC¥5hfrofflowaii
atrfvitb•s
¢￿hIroMI￿*SfknI1¢t￿
Purchèseoiian￿b1e Ilxed asse
PrloryearLHDCcoireciion
N¢tCash Irthn In¥e511
li￿1￿eS
154.8721
1184.4641
1239J361
C15hfiDm Iln•nciniadfvmes
17,785
1.639
IIEtGashfromfln•n¢lrf
Ilvllles
17.n5
Chtys In¢a$h Inthtyear
I￿711
(*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
TotalIn￿rne
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,$78
420.197
654.774
EXpeThdIt￿re
Ra151ngiun(Js
4,186
276.854
16,237
21,608
37.403
25,794
314.257
16.237
1184,4641 1184,4641
297.277 1125.4531
171.824
5,778
241.722
16,614
7,278
86,285
327.987
16,614
Olheiexpendiitsre
Prioryear LHDC Correction
Totalexpendlture
204,114
93,644
367.65B
Income iessexpendlture
1S,8551
583363
577,408
I29￿30)
326,653
297.116
Tran51er5 belweenfund5
Fundstr8nsler$
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
NewpDrLPogr*ll
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$$et$
6,792
124.112
0,905
5,9B5
825,96B
031.953
12.777
950,080
962.857
8,249
492.326
500.576
17,694
606,376
624.070
114.050
123,495
Credltors: amoLtnt$falllng
duewlthln on¢ye¥r
Cieollors.. amounts < iyoar
Total Credltots-. •mo￿￿t5
lalllngduewlthln oneyear
6.683
6.613
1,290
1,290
7,972
7,972
4.475
4A75
4.635
4.635
9,111
9,111
NetCurrentAsset$
124.222 830,663 954085
49&940
614,960
TotalAsset$ le$$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 Rese￿05
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..
Reve￿n￿ 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
act￿ltIeS
114.3841
154.8721 169.2561
149,0331
149.0331
IIB4.4641 1184.4641
I￿￿81} 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 accOun￿n6 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 re￿1Vable. 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=
F￿ehOld 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¢t1￿Iles
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
234￿78
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
RaIsl￿FUn￿S
Fundiaisl￿gcosts
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
CharltableAct￿llles
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
48￿e6
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 coninb￿lonS
Penslon ¢ontrIty￿lons
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
86￿70
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
66￿70
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 p￿ne(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 GIft￿d
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
um￿st￿tte0 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
t￿ditOrS
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
a￿l¥￿Ie$
20.334
555.188
575.522
27,534
281,520
309.053
Newport Pagnell Baptist Church, CIO 1175783
28