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2024-12-31-accounts

Newport Pagnell Boptist Church CIO.. 1175783 MOPS rooted IW-BOYS BRIGADE Annual Trustees Report and Consolidated Financial Statements 31 December2024

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

CONTENTS

Reference and Administrative Details ................................................................................................. 2 Trustees Report ................................................................................................................................. 3 Constitution and Objects ............................................................................................................... 3 Achievements and Plans for Future Periods ................................................................................... 4 Building Development Update ....................................................................................................... 7 Structure, Governance and Management .................................................................................... 12 Policies & Risk Management ........................................................................................................ 14 Financial Review .......................................................................................................................... 17 Trustees' responsibilities in relation to the financial statements ................................................... 19 Independent Auditor's Report to the Trustees of Newport Pagnell Baptist Church ........................... 20 Consolidated Statement of Financial Activities ................................................................................. 23 Consolidated Balance Sheet as at 31 December 2024 ..................................................................... 24 Consolidated Statement of Cash Flows for the Year Ended 31 December 2024 ................................ 25 Notes to the Financial Statements ................................................................................................... 26

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Charity name: Newport Pagnell Baptist Church (CIO)

Charity registration number: 1175783

Principal office: Lovat Hall, Silver Street, Newport Pagnell, Buckinghamshire, MK16 0EJ

Trustees

The individuals who served as trustees during the year ended 31 December 2024 and up to the date on which these financial statements were approved (31 October 2025) were:

Name Role (if any) Date appointed Date resigned (if applicable)
Stephen Wood Trustee / Minister March 2018 –
Peter Young Trustee / Minister June 2021 –
Emma Louise Beaney Trustee / Elder April 2021 –
Margaret Mulwa Trustee / Elder April 2021 May 2024
Sue Winship Trustee / Elder April 2021 May 2024
Alex Millington Trustee / Treasurer April 2022 –
Chrisann Meij Trustee / Elder June 2024 –
Linda Mary Thompson Trustee / Elder June 2024 –

Trustees appointed after the end of the accounting period who remained in office on the date the financial statements were approved:

Name Role (if any) Date appointed
Philippa Lei Chair / Elder April 2025
Grace Miriam Inwood Trustee April 2025
Adrian Robert Paul Dunn Trustee / Elder April 2025

Auditor

Michael J Emery & Co Limited

22 St John Street, Newport Pagnell, Buckinghamshire, MK16 8HJ Registered to conduct audit work by the ICAEW (Firm No. C001667580)

Bankers

CAF Bank Limited

25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ

Other Advisers

The charity had no appointed solicitors or investment advisers during the year.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

TRUSTEES REPORT

The trustees present their report along with the financial statements for the year ended 31 December 2024 . This report and the financial statements comply with the Church’s governing document, applicable law and the requirements 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 (FRS102) (effective 1 January 2019).

CONSTITUTION AND OBJECTS

Newport Pagnell Baptist Church ("the Church") has operated under a constitution dated 18[th] July 2017, amended 8[th] February 2021, and is registered with the Charities Commission as a Charitable Incorporated Organisation ("CIO") (registration number 1175783) operating as a place of worship. The assets and liabilities of the original charity under which the Church operated (registration number 1127416) were transferred to the CIO with effect 1[st] 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 faith 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 this is our church vision statement:

Devoted to being followers of Jesus who love, grow and go together.

And our church values:

As God’s people, seeking to do life and faith together, our greatest challenge and opportunity is to find the appropriate balance between being an organisation that exists primarily for its members, and one that exists primarily for those who are not its members.

The address of the Church, where the trustees may be contacted, is Lovat Hall, Silver Street, Newport Pagnell, Buckinghamshire MK16 0EJ.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

ACHIEVEMENTS AND PLANS FOR FUTURE PERIODS

OVERVIEW: ROOTED IN ORDER TO BEAR FRUIT – STEVE WOOD, SENIOR MINISTER

It can be very easy for a church to measure success in the same way – that any charitable, volunteer-driven organisation might through the number of people actively involved and their donations. For a church, these are only indicators of something more significant.

NPBC’s mission is to see people grow in their relationship with Jesus. This is the fruit we want to see:

In 2024 we have been blessed to see more and more of all three of these, and we carry both faith and expectation that this will continue into 2025. Our church family continues to grow numerically and our financial situation remains healthy. Having previously emphasised the need for this to translate into greater staff and volunteer resources, 2024 was the year in which this began to move forward through a combination of teaching, personal response and strategic decision-making.

The S.H.A.P.E. series helped people to explore their God-given gifts and calling, and we have since seen individuals step up to take on key roles. We began the recruitment process for a Chair of Trustees role and a new Operations Manager, both of which were fulfilled in early 2025. All of this represents a significant step in building the operational ‘trellis’ that will allow our ‘vine’, our ministries, to continue to grow.

The change we have spoken about many times before remains ongoing. While growth brings its challenges, we continue to thank God for his provision and for the blessing of being able to respond well to the opportunities he sets before us. We are encouraged by the growing momentum behind so many of our initiatives and are excited to see the fruit they will bear.

– In 2025 we will begin the transition to a new articulation of the NPBC identity recognising that we are called to be followers of Jesus, devoted to love, grow and go together. We take this next step grateful for the year that has passed and with confidence in where God is leading us. As we continue to grow, we know the importance of releasing more people to serve so that ministries are well supported. This will be especially important as we embed new trustee and staff roles further releasing the ministers to serve the ministries and activities of the church. The church has also granted me the opportunity to take a three-month sabbatical in the middle of the year, further increasing the need for a more sustainable and shared approach to ministry.

Looking ahead, we recognise that continued growth will also require renewed focus on the areas that — help us remain a church family that loves, grows and goes together particularly in Life Groups and pastoral care. We step forward knowing, as always, that God has immeasurably more for us than we could ever ask or imagine.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

OUR ACTIVITIES

Our teaching in 2024 focused on 3 areas. Firstly, we completed our 18-month journey through the Gospel of Matthew. 137 individual pieces of teaching that helped us gain the deepest of insights into the life of Jesus, his teachings, and what it means to follow him. Only in hindsight have we been able to see the positive impact this had on the church. From here, and in response to a desire from the church family, we shifted from our planned schedule to explore what it means to be a Spirit-led church. Finally, we ended the year’s core teaching focused on understanding the specific S.H.A.P.E. that God has made each of us, and how we are called to use that in serving Him through the church. This series, which included Life groups meeting altogether for a season, was a perfect example of being Rooted… in order to bear fruit.

Our Sunday services continue to be well attended, with an average of approximately 250 people coming together over the two services each Sunday. This is supplemented by an online congregation of around 40-50 regular viewers. Continued irregular patterns of attendance mean that the growth we’ve seen in the overall church family is not always obvious, albeit our monthly ‘One Big Family’ services are now regularly full.

Over the year, we have been privileged to share 5 baptisms, and our membership roll has seen a net increase of 5, with 11 new members joining the church and us sadly losing 6 members, either through death or them moving out of the area.

Our commitment to being a multi-generational church remains, and we continue to enjoy healthy – attendance at all of our activities ranging from Parent & Toddler and MumCo aimed at parents with – very small children to Food4Thought, our monthly service and afternoon tea for older generations. In both cases, there is a sense that these could be even more successful if we were to further build the volunteer teams or had more space in the building. Of course, these are both areas we are actively seeking to address.

In addition, our children’s and youth activities also remain healthy. Boys’ and Girls’ Brigades, and our Sunday evening Baseline youth group are well attended and – in the main – well served by volunteers.

During the week, our many Life groups continue to run, providing space for smaller communities of people to do life and faith together outside of the more traditional Sunday gatherings. There is definitely an opportunity for us to engage more people in these groups, and especially those new to life at NPBC. This will be a focus for the new year.

Other notable initiatives included

PEOPLE AND VOLUNTEERS

Our greatest asset and resource is our people. Since the global pandemic back in 2020, we have experienced significant challenges in building the teams needed to facilitate many activities associated

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

with church life. In 2024, we made positive progress in releasing people to serve across a number of areas.

Operations Manager

Most significantly, the church family approved the recruitment for new Operations Manager role which will oversee the existing staff team. Recruitment to the role was concluded in early 2025.

Chair of Trustees

Simultaneously, we created and communicated a defined Chair of Trustees position and were blessed to have a church member express interest who brings significant leadership experience and expertise to this role and were pleased to be able to appoint her early in 2025.

Volunteers

Thirdly, we ran a cross-church programme in the Autumn called S.H.A.P.E., which helps people identify the specific spiritual gifts, heart, abilities, personality and experiences that have shaped them to serve. This has increased the pool of those willing to serve in church life, and we will continue to work to release these people into the right roles over the coming months. Across this entire area, we have recognised that this is a 3-year turnaround and aren’t expecting to achieve significant breakthrough in a single 12-month period.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

BUILDING DEVELOPMENT UPDATE

PROJECT OVERVIEW

Each week, we see an average of 1,200 people come through Lovat Hall. Many of these come to enjoy activities initiated by the church family; from Sunday worship to Parent & Toddler groups; and from a summer Holiday Club, to the Winter Night Shelter. Other come to take part in community and sports groups, ranging from Zumba to table tennis and from Blood Donors to meetings of the Fine Art Society.

Lovat Hall is showing signs of its age (part 1940s, part 1970s) and the effects of decades of heavy use. Following several years of community consultations and planning we have lodged an application for planning permission for a redevelopment that will ensure our degrading, energy-inefficient building remains viable as a community asset with long-term sustainability. Our vision is for a new building that will allow even more people from the community to use and enjoy the facilities every week.

PROJECT RE-EVALUATION

Since the inception of the project in 2016, a great deal has changed:

As a result, the Building Development Committee, in consultation with and as guided by the wider church membership, made the decision in early 2025 to re-evaluate the needs of the church and community with a view to changing the nature of planning permission required and the scope of the building project.

A new application was submitted in 2025 which seeks to secure permission for the development of a scheme similar to the original Phase 1 of the project comprising the demolition of the Tickford Room, Kitchen, Chapel and Stables storage area and the building of a new 2-storey community space with a new entrance foyer, kitchen and café facilities, a large hall space on the ground floor and a flexible hall space on the first floor than can be divided into two or three rooms. It is envisaged that work on this development will commence in early 2026 provided planning permission is secured.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

REFURBISHMENT OF MAIN HALL – COMPLETED 2024/25

The refurbishment of the main hall was split into two phases.

Phase A – these works took place over summer of 2024 and comprised the replacement of the main hall roof, new windows, curtains, suspended ceiling and a solar PV installation on the roof.

Phase B – these works took place in Q1 2025 and comprised the replacement of all remaining single glazing, replacement of flat roofs over the offices, upgrade to the heating system and refurbishment of the main stage including creation of additional storage areas.

Included within the result for 2024 is the costs associated with the phase 1 works which can be broken down as follows. The expenditure listed below was incurred across 2024 and 2025 and the grant funding was also received across these years.

Project Grant Church
Cost Funded Funded
Main Hall Roof 122,863 120,623 2,240
Fire Doors and Windows 117,914 111,163 6,751
New Suspended Ceiling 72,503 71,935 569
Solar Panels & Associated Electrical Installations 53,282 50,030 3,252
Curtains and Blinds 17,170 13,736 3,434
Architect Fees 8,081 - 8,081
Other works and equipment 20,229 16,183 4,046
TOTAL CAPITAL EXPENDITURE 412,042 383,670 28,373
Operating expenditure incurred 59,182 43,728 15,454
TOTAL EXPENDITURE 471,224 427,398 43,827

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

PROJECT FINANCIAL REPORT

STATEMENT OF FINANCIAL ACTIVITIES – BUILDING DEVELOPMENT FUND

Income
Donations & legacies
Other trading activities
Investments
Other income
Total income
Expenditure
Raising funds
Charitable activities
Other expenditure
Prior Year LHDC Correction
Total expenditure
Income less expenditure
Transfers between funds
Transfers to assets fund
Other funds transfers
Total transfers between funds
Net movement in funds		 2024
Building
Fund
£
792,804
1,045
35,380
-
829,229
39,979
61,287
-
-
101,266
727,963
(409,419)
1,849
(407,571)
320,392		 2023
Building
Fund
£
142,604
2,974
17,785
13
163,375
21,606
5,086
-
(184,464)
(157,772)
321,147
(11,014)
1,490
(9,524)
311,623

Further analysis of the donations, grants and legacies to the fund is as follows:

Donations & gifts
Regular Giving
Gift Aid
Ad Hoc Donations
Grants Income
Total Donations & gifts		 2024
108,345
74,601
281,510
328,348
792,804		 2023
93,075
20,243
29,285
260,000
402,604

Regular giving from the church family increased by 16% 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. At the end of 2024 regular donations to the building project were running at c.£9,200 per month.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

BALANCE SHEET – BUILDING FUND

Fixed Assets
Tangible Assets
Investments
Total Fixed Assets
Current Assets
Debtors
Cash at bank and in hand
Total Current Assets
Creditors: amounts falling due
within one year
Creditors: amounts < 1year
Total Creditors: amounts falling
due within one year
Net Current Assets
Total Assets less Current
Liabilities
Net Assets		 2024
Building
Fund
£
241,687
100
241,787
16,631
1,134,408
1,151,040
269,999
269,999
881,040
1,122,827
1,122,827		 2023
(as restated)
Building
Fund
£
239,336
100
239,436
5,586
817,689
823,275
260,276
260,276
562,999
802,435
802,435

At the end of 2024 the church was holding £993,320 of funds on a 3-month notice deposit account with the Baptist Union Corporation Limited paying an interest rate of 4.25%. Debtors at the period end are analysed as follows:

Deed of Covenant Debtor
Recoverable Gift Aid
TOTAL DEBTORS		 2024
£
7,777
8,854
16,631		 2023
(as restated)
£
3,809
1,777
5,586

The Deed of Covenant relates to funds due back from Newport Pagnell Baptist Church Development Limited (NPBCDL) 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 NPBCDL does not make a financial gain or loss in connection with that design and build contract.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

CASH FLOW – BUILDING DEVELOPMENT FUND

Net movement in funds
Adjustments for:
Interest income
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Increase / (decrease) in def. inc.
Total adjustments
Net cash from operating activities
Cash from investing activities
Purchase of tangible fixed assets
Prior year LHDC correction
Interest income
Net cash from investing activities
Changes in cash in the year
Opening cash and cash equivalents
Closing cash and cash equivalents		 2024
Building
Fund
£
320,392
(35,380)
(11,045)
9,723
-
(36,702)
283,690
(2,351)
-
35,380
33,029
316,719
817,689
1,134,408		 2023
(as restated)
Building
Fund
£
311,623
(17,785)
2,555
(1,807)
260,000
242,962
554,586
(54,872)
(184,464)
17,785
(221,551)
333,035
484,655
817,689

Cash balances increased by a total £316,719 in the year (2023: £333,035) and expenditure on fixed assets (transfers to assets fund plus WIP costs on the building project shown in cash flows) totalled £411,770 (2023: £65,886) in the year. Expenditure on fixed assets predominantly related to the refurbishment of the main hall.

SUMMARY

While the church is holding significant cash balances towards the development of Lovat Hall, there is still a long way to go to fully secure the total forecast £3.8m required to complete the building project. Trustees are currently exploring significant loan funding to bridge the gap between funds held and funds required. The building development committee are pleased to report that the project is currently on track.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

ORGANISATION

Although a member of the Baptist Union of Great Britain, Newport Pagnell Baptist Church is (like most British Baptist churches) an independent charity. The ultimate control of the Church is vested in the – Church members. At the end of 2024, the Church had 193 (2023 186) members. The members meet at least four times a year to discharge their business responsibilities.

Day to day management of the Church’s affairs is performed by the Minister s and Operations Manager and is overseen by the Trustees. The church ceased to operate a diaconate from 19[th] April 2021 as approved by a Special Church Members Meeting. The number of Elders is determined by the Church Members’ Meeting from time to time.

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.

INDUCTION AND TRAINING OF TRUSTEES

Charity Trustees are appointed at a Church Members’ Meeting in accordance with the Church’s constitution. Nominations are invited from the membership in advance of the election, with each nomination supported by two further Church Members. Nominations are then reviewed by the Eldership to ensure that nominees are suitably gifted and eligible to serve before they are nominated for election at an Ordinary Church Members’ Meeting. Elections are conducted by secret ballot at such meeting with candidates requiring at least two-thirds of votes cast to be appointed.

Newly appointed trustees are given a copy of the Church’s constitution, the most recent annual report and accounts, and a summary of current governance matters (as required by clause 17.1 of the constitution). This enables them to understand the Church’s legal framework, ministry priorities and ways of working as early as possible after appointment. They are also invited to have short induction meetings with the Operations Manager, Senior Minister and Chair of Trustees to ensure they understand their role and responsibilities fully.

In 2024 the trustees also continued to embed a culture of shared leadership and accountability, reflecting Baptist practice in which discernment and governance flow from the life of the local church. Training and development for trustees is ongoing through regular discussion of governance responsibilities, reference to Charity Commission guidance, and support from the regional Baptist Association when required. The recent appointment of a Chair of Trustees in early 2025 further strengthens ongoing trustee development, succession planning and clarity of role.

RELATIONSHIP WITH SUBSIDIARIES

In 2019 the church incorporated a development company, Newport Pagnell Baptist Church Development Limited (company number 11934841), with the purpose of undertaking a design and build contract for the development of the church building. Certain payments are made each year to this company in connection with that contract. The company has no other remit and at least two Trustees of NPBC serve as directors of that company at all times.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

REMUNERATION OF KEY MANAGEMENT PERSONNEL

The trustees consider the key management personnel of the church to be the Ministers and any employed senior operational staff who have responsibility for the day-to-day leadership and oversight of the Church’s activities. During the year this included the Senior Minister and Associate Minister.

Ministers are Charity Trustees by virtue of their role and are remunerated in accordance with clause 9.2.7 of the Church’s constitution, which permits a minister to receive a stipend and reasonable allowances. The level of stipend and the nature of associated allowances are reviewed annually alongside the Church’s budget, making reference to external guidance issued by the Baptist Union, to CPI and to relevant regional cost indices (such as rental and utility price data), to ensure remuneration remains fair, reasonable and consistent with the Church’s charitable purposes.

No other charity trustees received any remuneration for their role as trustees. Trustees are entitled to reclaim reasonable expenses incurred while carrying out their duties, although no material trustee expenses were claimed during the year.

The Church had no bonus, incentive, or performance-related pay arrangements, and no loans or other taxable benefits were made to any key management personnel.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

POLICIES & RISK MANAGEMENT

PUBLIC BENEFIT POLICY

In planning and managing activities for the year the trustees pay due notice to the Charity Commission’s guidance on public benefit. The church’s activities are offered to those interested and in need and are not restricted by ethnicity, gender, sexual orientation, or religious belief. The trustees attempt to make sure that its building and activities are as accessible as possible. It is part of the church’s objectives to provide services open for all people in the community. In this way the church provides benefit to its own members, but also to the wider community we serve.

POLICY ON GRANTS AND DONATIONS BY THE CHURCH

The Church adopted its current policy on grants and donations in 2004. In summary:

Policy Principle Summary
Core denominatonal
giving		 The Church maintains regular giving to the Baptst Union Home Mission appeal (via the Central
Baptst Associaton) and to BMS World Mission, at the levels recommended by those bodies.
Tithe on general
income		 10% of total income is set aside to support other nominated charites agreed by the Church
Meetng. In 2024 this included Bridgebuilder Trust and the Winter Night Shelter, along with
one-of gifs to Milton Keynes Hospital and Hope for Romania.
Event-related giving Income from individual events may be designated for charitable partners whose objectves
align with the Church.
Internal hardship
support		 The “Be A Blessing” fund remains available to support church members facing fnancial
hardship.

The Church made donations during 2024 of £31,209 (2023: £54,588).

INVESTMENT POLICY

The Church holds funds available for investment in liquid assets, primarily cash at bank, to ensure that these are available for use in the Church's charitable activities. These funds are held in interest bearing deposit accounts with instant access at reputable UK-regulated banking institutions which reflect the Church's values and ethos and do not run counter to its aims. During 2023 the church opened a new 3-month deposit account bearing a significantly higher rate of interest with the Baptist Union Corporation Limited. This account has a 3-month notification policy on withdrawals without suffering a penalty of the interest that would otherwise have accrued during that period.

RISK MANAGEMENT

In accordance with the principles outlined in the document produced by the Charity Commission – Charities and Risk Management – the Church maintains a Risk Register that is reviewed by the Trustees at least annually. It identifies threats to the church on reputational and financial bases. Each threat is quantified in terms of the probability of the threat becoming an issue (actually occurring) and the severity of the effect 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 mitigating 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). A summary of the principal risks and mitigation / controls in place to manage those risks is presented below.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

Risk Area Key Risks Mitgaton / Controls Oversight
Governance &
Compliance		 Inappropriate beneft to trustees;
actvites outside charitable objects;
gaps in policy framework; legal non-
compliance		 Collectve decision-making; declaratons
of interest; writen policies; periodic
review and policy development; access
to external advice		 Chair of Trustees
People &
Safeguarding		 Safeguarding of children, young
people and vulnerable adults;
ministerial capacity; succession and
resilience		 Safeguarding policy and annual review;
DBS checks; training; pastoral oversight;
planned staf/volunteer development		 Trustee for
Safeguarding /
Chair
Operatonal
Health & Safety		 Fire safety; premises hazards;
legionella; asbestos; volunteer H&S
awareness		 Risk assessments; maintenance and
compliance checks; inducton and
training for volunteers; regular
monitoring		 Operatons
Manager
Data Protecton
& IT Contnuity		 GDPR breaches; data loss; IT failure Data protecton policy; twice-yearly
data sweeps; cloud-based systems; IT
support contract		 Operatons
Manager
Financial
Resilience		 Insufcient income; dependency on
limited sources; fraud or fnancial
crime		 Financial procedures; mult-person
authorisaton; cashfow monitoring;
independent audit; giving analysis		 Treasurer
External &
Reputatonal		 Breakdown of relatonships with
community, councils or partner
organisatons		 Clear policies for building use; proactve
engagement and communicaton		 Senior Minister
Spiritual Health
& Unity		 Spiritual discouragement or division Teaching, pastoral care, Life Groups,
prayer and discipleship		 Senior Minister

RESERVES POLICY

The funds held in reserve by the Church are based upon the following criteria considered by the Trustees, and with the current sums re-allocated to each area for the 2024 financial year:

Category Descripton Amount
Maintenance of services for
benefciaries		 Commitments to individuals or organisatons £6,000
Redundancy costs for orderly
close down of charity		 Employer obligatons £62,000
Funding or loan covenants None £0
Planned commitments Antcipated defcit in the general fund over the next two
years following recruitment of an Operatons Manager		 £46,000
Risk provisions Unmitgated risks identfed in the Risk Register (range
estmate)		 £15,000 – £30,000
Total exposure (commited + potental) £129,000 – £144,000

The Reserves Policy is reviewed annually by the Trustees as part of the budget process. Current required reserves as identified by the reserves policy total £129,000-144,000. At the end of 2024, the church has unrestricted reserves of £128,166 (2023: £124,222).

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

FUNDRAISING POLICY AND RESPONSIBILITIES

The trustees are responsible for ensuring that all fundraising undertaken in the name of the Church is carried out in a way that is consistent with its Christian ethos, in line with Charity Commission guidance (CC20), and compliant with relevant legal and regulatory requirements.

General fund income is raised primarily through voluntary giving by members and friends of the Church. The Church does not use external agencies for general fundraising and does not apply pressure techniques. Giving is invited through church communications, through a Sunday offering bowl and via the Church website (npbc.org.uk), where guidance is provided on ways to give regularly or through one-off donations. All giving continues to be voluntary and is treated respectfully and confidentially.

In relation to the building project, the Church engages two self-employed fundraising executives who support applications to grant-making bodies, trusts and potential philanthropic partners. They act under the oversight of the Trustees and do not operate on a commission basis. No fundraising is outsourced to professional fundraising companies.

The trustees monitor fundraising activity to ensure that:

The Church did not receive any fundraising complaints during the year.

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Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

FINANCIAL REVIEW

PERFORMANCE FOR 2024

Total income, including the building fund, has increased to £1,127,819 (2023: £489,232) which includes grant income for the building project of £328,348 (2023: £Nil). Expenditure on achieving its charitable objectives increased to £415,848 (2023: £356,288) driven largely by additional costs associated with the hall refurbishment programme. We are grateful to all our supporters and volunteers without whom this would not have been possible, and to God for His blessings and provision.

Unrestricted income grew in the year to £296,324 (2023: £291,422) reflecting a continued growth in church membership and wider church family but impacted by reduced hall lettings in part related to a decision to cease large evening party bookings to ease parking availability and reduce impact on nearby residents. The trustees are also pleased to report that the church had another year of positive cash generation on the general unrestricted funds of £12,550 (2023: £10,062).

The Charity ended the year with satisfactory levels of funds. The balance on the Building Fund currently stands at £1,122,827 (2023: £802,435) with a further planning application due to be submitted in 2025 and works on the building currently anticipated to commence in 2026. General reserves are at an acceptable level of £121,098 (2023: £117,866) which is in line with the Charity’s reserves policy and provides financial strength to weather any financial shocks in the coming year, as well as providing the church with the ability to take advantage of opportunities should they arise.

KEY FINANCIAL RISKS AND UNCERTAINTIES

Area of uncertainty Descripton Mitgaton / management approach
Income volatlity Giving contnues to be strong but is not
guaranteed, and the church is currently
running a planned defcit budget as stafng
capacity is expanded. Wider economic
pressures could impact household giving
levels.		 Regular cashfow forecastng and giving
analysis; quarterly reportng to trustees;
teaching and engagement on stewardship;
targeted reserves maintained to absorb
short-term fuctuatons.
Stafng cost growth The appointment of an Operatons Manager
increases fxed costs at a tme of transiton,
while ministerial remuneraton is subject to
natonal infaton-linked review.		 Mult-year budgetng; staged introducton of
stafng capacity; periodic review of role
scope and impact; charity reserves aligned
to future stafng commitments.
Compliance &
safeguarding costs		 Strengthening governance, policy framework
and training requirements may bring additonal
fnancial outlay (training, legal advice, policy
implementaton).		 Planning compliance costs within annual
administratve budgets; seeking subsidised
support from the Associaton; using
volunteer expertse where appropriate.
Premises risk &
maintenance		 Health & safety, fre, asbestos, and legionella
obligatons could give rise to unplanned
expenditure if remedial work is required.		 Actve monitoring through risk assessments
and maintenance plans; building
contngency within reserves; long-term
capital maintenance planning.
Financial crime &
fraud risk		 Although current fraud controls are strong,
fnancial crime legislaton around high-value
donatons is tghtening in the wider charity
environment.		 Strengthening ant-fnancial crime controls;
trustee training; mult-person payment
authorisaton; external scrutny via
independent audit.
External economic
climate		 Cost-of-living pressure may afect regular
giving; infaton increases cost base (utlites,		 Reserves reviewed annually; incremental
cost control; use of designated funds and

17

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

Area of uncertainty Descripton Mitgaton / management approach
insurance, ministry expenses) regardless of
income stability.		 restricted giving for specifc ministries;
ongoing monitoring of energy and
contractual costs.

Summary of mitigation approach

Collectively, the trustees are managing uncertainty by:

18

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The Trustees are responsible for preparing a Trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Applicable law requires the Charity Trustees to prepare financial statements for each year which 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 for that period. In preparing the financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

DISCLOSURE OF INFORMATION TO AUDITOR

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

DECLARATION

The Trustees Annual Report was adopted by the board of Trustees on 31 October and signed on its behalf by Philippa Lei, Chair of Trustees.

Philippa Lei Chair of Trustees

Date: 31 October 2025

19

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF NEWPORT PAGNELL BAPTIST CHURCH

INDEPENDENT AUDITOR'S REPORT

Opinion

We have audited the financial statements of Newport Pagnell Baptist Church (the 'charity') for the year ended 31 December 2024, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other matters

We draw to your attention the fact that the corresponding figures for the year ended 31 December 2023 are unaudited.

We also draw your attention to the fact that a material prior year adjustment has been made impacting the corresponding figures for 2023, and the opening net asset and fund position at 1 January 2024. Please see notes 3 and 12 to the financial statements for further information (set out on pages 26-36).

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

20

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF NEWPORT PAGNELL BAPTIST CHURCH

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 19), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 152 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

21

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF NEWPORT PAGNELL BAPTIST CHURCH

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

......................................

Michael Emery ACA (Senior Statutory Auditor)

For and on behalf of Michael J Emery & Co Limited, Statutory Auditor

22 St John Street

Newport Pagnell Buckinghamshire MK16 8HJ

Date: 31st October 2025

22

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

Note
Income
Donations & legacies
Other trading activities
Investments
Other income
Total income
2
Expenditure
Raising funds
Charitable activities
Prior Year LHDC Correction
6
Total expenditure
4
Income less expenditure
Transfers between funds
Funds transfers
12
Total transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forwards
Total funds carried forwards		 2024
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
250,436
795,070
1,045,506
37,365
1,045
38,410
8,523
35,380
43,903
-
-
-
296,324
831,495
1,127,819
4,376
40,483
44,859
303,361
67,627
370,989
-
-
-
307,737
108,110
415,848
(11,414)
723,385
711,971
407,331
(407,331)
-
407,331
(407,331)
-
395,917
316,054
711,971
265,057
810,099
1,075,157
660,975
1,126,153
1,787,128		 2023 (as restated)
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
231,611
176,530
408,141
55,699
3,478
59,177
4,112
17,790
21,902
-
13
13
291,422
197,810
489,232
4,745
21,608
26,353
292,532
37,403
329,935
-
(184,464)
(184,464)
297,277
(125,453)
171,824
(5,855)
323,263
317,408
9,204
(9,204)
-
9,204
(9,204)
-
3,349
314,059
317,408
261,708
496,040
757,748
265,057
810,099
1,075,157

Newport Pagnell Baptist Church, CIO 1175783

23

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2024

Note
Fixed Assets
Tangible Assets
6
Investments
9
Total Fixed Assets
Current Assets
Debtors
10
Cash at bank and in hand
Total Current Assets
Creditors: amounts falling
due within one year
Creditors: amounts < 1year
11
Total Creditors: amounts
falling due within one year
Net Current Assets
(Liabilities)
Total Assets less Current
Liabilities
Net Assets
Funds of the charity
12
General funds
Assets funds
Designated funds
Restricted funds
Total Funds		 2024
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
535,022
241,687
776,710
-
100
100
535,022
241,787
776,810
6,987
17,422
24,410
136,662
1,137,965
1,274,627
143,649
1,155,387
1,299,037
17,697
271,021
288,718
17,697
271,021
288,718
125,952
884,366
1,010,318
660,975
1,126,153
1,787,128
660,975
1,126,153
1,787,128
121,098
-
121,098
532,808
-
532,808
7,068
-
7,068
-
1,126,153
1,126,153
660,975
1,126,153
1,787,128		 2023 (as restated)
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
140,835
239,336
380,172
-
100
100
140,835
239,436
380,272
6,792
5,985
12,777
124,112
825,968
950,080
130,905
831,953
962,857
6,683
261,290
267,972
6,683
261,290
267,972
124,222
570,663
694,885
265,057
810,099
1,075,157
265,057
810,099
1,075,157
117,866
-
117,866
140,835
-
140,835
6,356
-
6,356
-
810,099
810,099
265,057
810,099
1,075,157

The notes on pages 26 to 36 form part of these accounts Approved by the Trustees and signed on their behalf by:

Philippa Lei Chair of Trustees Date: 31 October 2025

Newport Pagnell Baptist Church, CIO 1175783

24

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Net cash from operating
activities
14
Cash from investing
activities
Purchase of tangible fixed
assets
6
Interest income
Prioryear LHDC correction
6
Net cash from investing
activities
Changes in cash in the year
Opening cash and cash
equivalents
Closing cash and cash
equivalents		 2024
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
419,671
278,967
698,638
(415,644)
(2,351)
(417,995)
8,523
35,380
43,903
-
-
-
(407,121)
33,029
(374,092)
12,550
311,997
324,546
124,112
825,968
950,080
136,662
1,137,965
1,274,627		 2023 (as restated)
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
20,334
555,188
575,522
(14,384)
(54,872)
(69,256)
4,112
17,790
21,902
-
(184,464)
(184,464)
(10,272)
(221,546)
(231,818)
10,062
333,642
343,704
114,050
492,326
606,376
124,112
825,968
950,080

ANALYSIS OF CASH AND CASH EQUIVALENTS

Cash on hand
Current accounts
Short term deposit accounts
Notice deposit accounts
Closing cash and cash
equivalents		 01-Jan-2024
£
Cash flow
£
31-Dec-2024
£
795
392
1,187
18,953
(3,863)
15,090
32,722
110,012
142,734
897,610
218,005
1,115,616
950,080
324,546
1,274,627

Newport Pagnell Baptist Church, CIO 1175783

25

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

NOTES TO THE FINANCIAL STATEMENTS

Note 1 – Accounting policies

(a) Statutory information

Newport Pagnell Baptist Church is a charitable incorporated organisation (CIO) registered with the Charity Commission in England & Wales. The registered office and operational address is Lovat Hall, Silver Street, Newport Pagnell, Buckinghamshire, MK16 0EJ.

(b) Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) – (Charities SORP (FRS102)) and the Charities Act 2011.

Newport Pagnell Baptist Church meets the definition of a public benefit entity under FRS 102.

(c) Basis of consolidation

The group financial statements consolidate those of the Charity and its subsidiary undertaking (see note 9) drawn up to 31 December 2024. The results of the Charity’s non-charitable trading subsidiary have been incorporated on a line-by-line basis. Surpluses or deficits on intra-group transactions have been eliminated in full.

(d) Going concern

These financial statements have been prepared on a going concern basis. In the assessment of the trustees there are no material uncertainties about the charity's ability to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

(e) Incoming resources

All monetary donations and gifts are included in full in the statements of financial activities when receivable. 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.

(f) Grants recognition

Grants are recognised when the charity becomes entitled to the income, it is probable that the charity will receive the income, and the income can be measured reliably.

If receipt of a grant is conditional on the charity meeting specified performance criteria, then the grant is recognised as deferred income until that performance criteria has been fulfilled.

(g) Income from other trading activities

Income from other trading activities comprises income arising from the hire of church premises to third party users. Income is recognised when use of the premises takes place.

(h) Resources expended

Resources expended are charged in the Statement of Financial Activities on an accrual’s basis, inclusive of VAT which cannot be recovered.

(i) Tangible fixed assets

Newport Pagnell Baptist Church, CIO 1175783

26

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

Tangible fixed assets are capitalised at cost and depreciated on a straight-line basis over the following estimated useful lives:

Freehold building (Lovat Hall) 25 years Fixtures, fittings, and equipment 5-10 years Plant and machinery 5-10 years

No value has been attributed to the freehold land on which Lovat Hall stands in view of the restrictions placed upon its alternative use by planning consents, its location and condition.

Assets (or groups of assets) costing less than £500 are not capitalised.

(j) Debtors

Short term debtors are measured at transaction price, less any impairment.

(k) Cash

is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 30 days.

(l) Creditors

Short term creditors are measured at transaction price.

(m) Pension costs

The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (“the Scheme”). The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptist Pension Trust Limited). The Minister(s) are eligible to join the Scheme, which is not contracted out of the State Second Pension.

The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a pension of one eightieth of final minimum pensionable income for each year of pensionable service together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income.

From January 2012, pension provision is being made through the Defined Contribution (DC) 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 (or 3% if the employer is in the segregated DC section) to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members in the event that they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist 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%.

Recovery Plan

In addition to the contributions to the DC Plan set out above, where a valuation of the DB Plan reveals a deficit the Trustee and the Council agree to a rate of deficiency contributions from churches and other employers involved in 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

Newport Pagnell Baptist Church, CIO 1175783

27

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

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 with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. 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 contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022. This came to an end in October 2024 when it was determined that there was no longer a shortfall in the Scheme.

(n)

Fund accounting

Charity law requires the net assets of the Church to be accounted for within a number of funds.

Unrestricted funds

These are funds that can be used in accordance with the Church’s charitable objectives at the discretion of the trustees.

Restricted funds

These are funds that can only be used for particular restricted purposes within the Church’s objects. Restrictions arise when specified by the donor or when funds are raised for particular purposes. The Church operates the following restricted funds.

Newport Pagnell Baptist Church, CIO 1175783

28

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

Note 2 – Analysis of Income

Note 2 – Analysis of Income
Notes
Donations & legacies
Gifts from church family
Gifts from user-group
members
Grants income
3
Total Donations & legacies
Other trading activities
Sale of goods and services
Income from events
Lettings income
Total Other trading activities
Investments
Interest
Total Investments
Other Income
Proceeds from sale of assets
Total Other Income
TOTAL INCOME		 2024
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
243,108
466,722
709,830
6,728
-
6,728
600
328,348
328,948
250,436
795,070
1,045,506
4,404
253
4,657
6,845
793
7,638
26,116
-
26,116
37,365
1,045
38,410
8,523
35,380
43,903
8,523
35,380
43,903
-
-
-
-
-
-
296,324
831,495
1,127,819		 2023 (as restated)
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
222,778
176,530
399,307
8,833
-
8,833
-
-
-
231,611
176,530
408,140
4,840
952
5,791
10,071
2,526
12,597
40,788
-
40,788
55,699
3,478
59,177
4,112
17,790
21,902
4,112
17,790
21,902
-
13
13
-
13
13
291,422
197,810
489,232

Note 3 – Analysis of grants Income

UK Gov Community Ownership Fund
FCC Communities Foundation
Milton Keynes City Council
Milton Keynes Community Foundation
The Boys Brigade - Building Stronger
TOTAL GRANT INCOME		 2024
Unrestrict-
ed Funds
£
Restricted
Funds
£
All Funds
£
-
217,348
217,348
-
50,000
50,000
-
56,000
56,000
-
5,000
5,000
600
-
600
600
328,348
328,948		 2023 (as restated)
Unrestrict-
ed Funds
£
Restricted
Funds
£
All Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Of the grants received in restricted funds, these were all for the building project and of this, £43,728 was spent in the year on revenue costs associated with the project and £284,620 was spent on capital expenditure.

Newport Pagnell Baptist Church, CIO 1175783

29

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

Included in the deferred income balance of £260,000 was a grant received from The Benefact Trust in 2023 for the redevelopment of the main church / community centre building. Planning permission is expected to be received for this project in 2025 whereupon the conditions for its recognition will be met. This grant was incorrectly recognised in income in the 2023 annual accounts and has been processed as a prior year adjustment in these accounts.

Note 4 – Analysis of Expenditure

Note 4 – Analysis of Expenditure
Unrestricted Funds Restricted Funds Total
2024
£		 Total
2023
(as
restated)
£
Direct
activities
£
Support
Costs
£		 Direct
activities
£
Support
Costs
£
Costs of generating funds
Fundraising events 2,976
37		 136
2		 3,151 3,167
Direct fundraisingcosts 1,345
17		 39,844
502		 41,708 23,186
Total cost of generating funds 4,322
54		 39,980
504		 44,859 26,353
Charitable activities
Faith & worship activities
Faith and worship 164,872
14,510		 16,961
1,351		 197,693 179,473
Donations and mission 24,439
437		 6,769
121		 31,767 55,148
Total faith & worship activities 189,311
14,947		 23,730
1,472		 229,460 234,620
Community activities
Church-led community
activities		 30,142
3,589		 11,881
407		 46,019 39,040
Communitycentre operation 49,782
5,927		 29,140
997		 85,847 55,972
Total community activities 79,924
9,516		 41,021
1,404		 131,866 95,012
TOTAL CHARITABLE ACTIVITIES 269,235
24,463		 64,752
2,876		 361,325 329,633
Governance costs
Governance activities -
9,663		 -
-		 9,663 302
Total Governance costs -
9,663		 -
-		 9,663 302
TOTAL EXPENDITURE 273,557
34,181		 104,731
3,379		 415,848 356,288

The main activities of the charity are to operate a church according to the principles of the Baptist denomination and to operate a community centre for the public benefit. Where expenditure is directly attributable to a specific charitable activity then it is directly allocated to that activity (for example ministers’ stipends and wages to faith and worship activities).

The charity operates primarily from a single building in Newport Pagnell that serves the majority of its charitable activities from Sunday worship to church-led community groups, community hall lettings and operation for other charitable activities such as welcoming guests for the winter night shelter. Expenditure that cannot be directly attributed to one specific activity is therefore allocated as follows:

Newport Pagnell Baptist Church, CIO 1175783

30

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

Activity Apportionment methodology
Wages and salaries Based on a time-cost analysis of the roles performed by each staff
member on an individual basis
To determine the total proportion of building costs to be apportioned to
Building costs - floor space support costs, the floor area of the offices as a proportion of the whole
building is used.
For costs then apportioned to the main hall and ancillary rooms this cost
is then initially apportioned between church and community activities on
Building costs - activity based a people usage basis (c.300 church users a week of a total 1,200 users)
and then apportioned between church-led community activities and
broader community activities based on the number of activities run under
that banner as a proportion of the total number of activities

Note 5 – Support Costs

Note 5 – Support Costs
Generating
Funds
£
Governance
£
Faith &
Worship
£
Community
£		 Total
2024
£
Administration
Wages and salaries 325
-
8,403
5,593		 14,322
IT & telecoms -
-
3,907
2,600		 6,507
Printing, postage, stationery -
-
125
83		 209
Other expenses 233
-
1,793
1,194		 3,220
Total Administration expenses 558
-
14,229
9,471		 24,258
Property
Utilities -
-
410
273		 684
Repairs & maintenance -
-
1,631
1,086		 2,717
Insurance -
-
148
98		 246
Total Administration expenses -
-
2,190
1,458		 3,647
Governance costs
Costs of trustee meetings -
288
-
-		 288
Audit & accountancy -
9,375
-
-		 9,375
Total Governance costs -
9,663
-
-		 9,663
TOTAL SUPPORT COSTS 558
9,663
16,419
10,928		 37,569

Included within Governance costs is auditor’s remuneration of £8,400 (2023: £nil).

Newport Pagnell Baptist Church, CIO 1175783

31

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

Note 6 – Tangible Fixed Assets

Fixtures
Land & Fittings
Land & Buildings Plant and and
Buildings WIP Machinery Equipment TOTAL
£ £ £ £ £
Cost 01-Jan-2024 221,785 239,336 27,124 92,641 580,885
Additions 403,076 2,351 1,570 10,999 417,995
Disposals - - - - -
Cost 31-Dec-2024 624,861 241,687 28,693 103,639 998,881
Depreciation 01-Jan-2024 139,675 - 16,964 44,075 200,714
Charge for the year 10,568 - 1,764 9,126 21,457
Disposals - - - - -
Depreciation 31-Dec-2024 150,243 - 18,728 53,201 222,171
NBV 01-Jan-2024 82,110 239,336 10,160 48,566 380,172
NBV 31-Dec-2024 474,618 241,687 9,966 50,439 776,710

Included within Land and Building WIP are monies that have been spent in connection with the Church Building Project. These assets are currently under construction and so depreciation has not commenced in the year. The refurbishment of the main hall including new roof, windows, hall refurbishment and the installation of a solar PV system were all completed in the year and assets were therefore added to Land and Buildings in the year and depreciation was commenced in line with the policy.

In 2023 the trustees identified an error in connection with the previous 3 years of financial statements whereby expenditure 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 was that the trustees recognised a gain of £184,464 through the restricted funds as a prior year adjustment and are now holding this balance as WIP in Fixed Assets until the project is completed.

Note 7 – Personnel Costs

Note 7 – Personnel Costs
Full time
Part time
TOTAL STAFF NUMBERS		 2024
Ministry
Staff
Other
Staff
Total
Staff
2
1
3
-
4
4
2
5
7		 2023
Ministry
Staff
Other
Staff
Total
Staff
2
1
3
-
4
4
2
5
7

Newport Pagnell Baptist Church, CIO 1175783

32

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

Salaries and wages
Accommodation costs
National insurance contributions
Pension contributions
Annual employment allowance
TOTAL WAGES & ALLOWANCES
Salaries and wages
Training costs
Travel and other expenses
TOTAL PERSONNEL COSTS		 2024
Ministry
Staff
£
Other
Staff
£
Total
£
61,490
71,019
132,509
31,616
-
31,616
8,526
4,679
13,205
9,321
6,980
16,300
(3,228)
(1,772)
(5,000)
107,724
80,906
188,630
2024
Ministry
Staff
£
Other
Staff
£
Total
£
107,724
80,906
188,630
2,443
-
2,443
-
-
-
110,167
80,906
191,073		 2023 (as restated)
Ministry
Staff
£
Other
Staff
£
Total
£
57,060
73,158
130,217
30,386
-
30,386
7,816
4,501
12,318
8,654
6,601
15,255
(3,173)
(1,827)
(5,000)
100,743
82,433
183,176
2023 (as restated)
Ministry
Staff
£
Other
Staff
£
Total
£
100,743
82,433
183,176
2,201
-
2,201
493
-
493
103,436
82,433
185,869

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 which were declined except in connection with Mr Young’s ongoing studies at Spurgeon’s College in London as he has commenced his Minister in Training programme which he is undertaking alongside a Masters in Theology. Other than reimbursement of these travel training expenses totalling £2,443 (2023: £2,301), no trustees received any reimbursement of expenses in the current year or prior year. The total emoluments received by these two trustees was £100,846 (2023: £94,782).

Except as stated above no trustee or connected person has received remuneration or expenses requiring disclosure in addition to the employee costs disclosed above as required by the SORP, certain other costs have been classified as personnel costs (including volunteers expenses). No trustee or key management personnel received emoluments in excess of £60,000 in either the current or prior year.

The number of trustees for whom the charity is making pension contributions to a defined contribution scheme is 2 (2023: 2)

Newport Pagnell Baptist Church, CIO 1175783

33

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

Note 8 – Donations Made

Note 8 – Donatons Made
Baptist Home Mission
Baptist World Mission
Good News for Romania
Milton Keynes Bridgbuilder Trust
Milton Keynes Hospital
Practical support in the community
Thrive Uganda
Welcome MK
Willen Hospice
TOTAL DONATIONS		 2024
Unrestricted
Funds
£
Restricted
Funds
£
All
Funds
£
9,225
-
9,225
9,225
-
9,225
1,097
-
1,097
3,420
-
3,420
1,100
-
1,100
372
6,529
6,901
-
-
-
-
-
-
-
240
240
24,439
6,769
31,209		 2023 (as restated)
Unrestricted
Funds
£
Restricted
Funds
£
All
Funds
£
9,225
-
9,225
9,225
-
9,225
-
-
-
3,420
-
3,420
-
-
-
225
31,343
31,568
-
544
544
275
-
275
-
332
332
22,370
32,218
54,588

Note 9 – Details of Subsidiaries

Note 9 – Details of Subsidiaries
NPBC Development
TOTAL INVESTMENTS		 2024
Unrestricted
Funds
£
Restricted
Funds
£
All
Funds
£
-
100
100
-
100
100		 2023 (as restated)
Unrestricted
Funds
£
Restricted
Funds
£
All
Funds
£
-
100
100
-
100
100

The charity owns 100% of the issued share capital of NPBC Development Limited. The company’s registered office address is the same as that of the charity. During the period the subsidiary had total income of £15,000 (2023: £50,000) and expenditure of £11,032 (2023: £46,191). All surpluses are donated back to the charity at the end of the reporting period under a deed of covenant.

Note 10 – Analysis of Debtors

Note 10 – Analysis of Debtors
Debtors
Recoverable Gift Aid
Prepayments and accrued income
Other debtors
TOTAL DEBTORS		 2024
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
795
7,777
8,572
4,826
9,176
14,001
1,366
-
1,366
-
470
470
6,987
17,422
24,410		 2023 (as restated)
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
1,935
3,971
5,906
3,556
2,013
5,570
1,301
-
1,301
-
-
-
6,792
5,985
12,777

Newport Pagnell Baptist Church, CIO 1175783

34

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

Note 11 – Analysis of Creditors

Note 11 – Analysis of Creditors
Accounts Payable
PAYE/NI Liability
Pension Liability
Charity
Accruals
Deferred income
TOTAL CREDITORS		 2024
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
4,309
666
4,975
2,296
-
2,296
-
-
-
110
956
1,066
10,982
9,399
20,381
-
260,000
260,000
17,697
271,021
288,718		 2023 (as restated)
Unrestricted
Funds
£
Restricted
Funds
£
All Funds
£
3,617
290
3,907
2,952
-
2,952
113
-
113
-
1,000
1,000
-
-
-
-
260,000
260,000
6,683
261,290
267,972

Note 12 – Movement in Funds

Note 12 – Movement in Funds Note 12 – Movement in Funds
Balance at
01-Jan-
2024
£
Prior year
adjustment
£
Balance at
01-Jan-2024
(as restated)
£
Income
£
Expenditure
£
Transfers
£
Gains
and
losses
£
Balance at
31-Dec-
2024
£
General Fund
117,866
-
Assets
140,835
-
117,866
282,727
(274,726)
(4,769)
-
121,098

140,835
-
(21,457)
413,430
-
532,808
Unrestricted Funds
258,702
-

Boys Brigade
641
-
Food4Thought
1,742
-
Girls Brigade
1,855
-
MOPS
434
-
Parent&Toddler
1,684
-
258,702
282,727
(296,184)
408,661
-
653,906

641
7,087
(6,477)
(300)
-
951

1,742
810
(773)
-
-
1,779

1,855
2,908
(2,960)
270
-
2,073

434
1,326
(1,116)
300
-
943

1,684
1,465
(227)
(1,600)
-
1,321
Designated Funds
6,356
-
6,356
13,596
(11,554)
(1,330)
-
7,068
Total Unrestricted Funds
265,057
-

Charity
-
-
Be a Blessing
7,664
-
BuildingFund
1,062,435
(260,000)
265,057
296,324
(307,737)
407,331
-
660,975

-
135
(240)
240
-
135

7,664
2,131
(6,604)
-
-
3,191
802,435
829,229
(101,266) (407,571)
-
1,122,827
Restricted Funds
1,070,099
(260,000)
810,099
831,495
(108,110) (407,331)
-
1,126,153
TOTAL FUNDS
1,335,157
(260,000)
1,075,157
1,127,819
(415,848)
-
-
1,787,128

Transfers between the Building Fund and the Assets fund relate to expenditure on fixed assets in the year that was incurred in line with the objectives of the restricted fund.

Transfers between the General Fund and the Assets fund relate to expenditure on fixed assets that are smaller in nature such as purchase of worship or IT equipment for example.

Newport Pagnell Baptist Church, CIO 1175783

35

Annual Trustees Report and Consolidated Financial Statements Year ended 31 December 2024

Note 13 – Related Party Transactions

Transactions with other Baptist bodies

Newport Pagnell Baptist Church is an independent charity. The custodian Trustee of Lovat Hall is the Baptist Union Corporation Limited which is charity number 249635, and which is controlled by the Baptist Union Council. No fees are payable for this service. The church is also a member of the Baptist Union of Great Britain, and the Central Baptist Association.

The church incorporated a development company, Newport Pagnell Baptist Church Development Limited (company number 11934841), in 2019 with the purpose of undertaking a design and build contract for the development of the church building. Certain payments were made to this company in connection with that contract.

The church engage a close relative of a trustee and a close relative of a subsidiary director for fundraising services in connection with the Building Development Project. The two individuals have the professional skills, competencies and experience to perform these roles as expected.

Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£		 Total
2024
£		 Total
2023
(as restated)
£
Subscription to Baptist Union of Great Britain
1,075
-
-
Donations made to the BU Home Mission
9,225
-
-
Donations made to the BU World Mission
9,225
-
-
Insurance provided by Baptist Insurance Coy.PLC
2,659
-
1,555
Payments to Baptist Ministers' Pension Fund
10
-
-
Payments to NPBC Development Ltd
-
-
11,032
Payments to fundraising services
-
-
26,820		 1,075
9,225
9,225
4,214
10
11,032
26,820		 967
9,225
9,225
2,466
12
46,191
20,556
TOTAL EXPENDITURE
22,195
-
39,407		 61,601 88,642

Note 14 – Reconciliation of net cash from operating activities

Net movement in funds
Adjustments for:
Depreciation
6
Interest income
Sale of fixed assets
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Increase /(decrease)in def. inc.
Total adjustments
Net cash from operating activities		 2024
Unrestricted
Funds
£
Restricted
Funds
£
All
Funds
£
395,917
316,054
711,971
21,457
-
21,457
(8,523)
(35,380)
(43,903)
-
-
-
(195)
(11,438)
(11,633)
11,015
9,731
20,746
-
-
-
23,753
(37,086)
(13,333)
419,671
278,967
698,638		 2023 (as restated)
Unrestricted
Funds
£
Restricted
Funds
£
All
Funds
£
3,349
314,059
317,408
16,237
-
16,237
(4,112)
(17,790)
(21,902)
-
-
-
2,652
2,265
4,917
2,207
(3,346)
(1,138)
-
260,000
260,000
16,984
241,129
258,114
20,334
555,188
575,522

Newport Pagnell Baptist Church, CIO 1175783

36