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2021-12-31-accounts

Newport Pagnell URC Trustees’ Annual Report 2021

NEWPORT PAGNELL UNITED REFORMED CHURCH

REGISTERED CHARITY NUMBER 1179609

Reports of the Trustees and

Financial Statements

For year ending 31 December 2021

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Newport Pagnell URC Trustees’ Annual Report 2021

NEWPORT PAGNELL UNITED REFORMED CHURCH

ACCOUNTS YEAR END 31 DECEMBER 2021

CONTENTS LIST

Page
Report of the Trustees 3 - 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14 - 21
Detailed Statement of Financial Activities 22 - 23

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Newport Pagnell URC Trustees’ Annual Report 2021

Report of the trustees

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities (FRS 102) (effective 1 January 2019).

Reference and administrative details Registered Charity number

1179609

Principal address

67A High Street Newport Pagnell MK16 8AB

Trustees

Mrs Eva Bangle (Secretary) Mrs Ursula Ghaleb Mr Graham Ghaleb Miss Victoria Paulding Mrs Angela Tearle Mrs Julie Turner Mrs Ruth Tompsett Mrs Janet Wilson Mr Peter Williams

Minister (from 1.1.22) Rev’d Jo Clare-Young

Organisational structure

The constitution of the United Reformed Church states that church elders are the charity Trustees. Elders meet formally once a month and are responsible for all areas of church life: day-to-day running, pastoral care, ministry, mission, promotion of the Christian faith, finance, buildings. The minister is employed by the national United Reformed Church and advises the elders: the church entered a period of vacancy in October 2020, followed URC procedure to call a new minister and Revd Jo Clare-Young took up this post from 1 January 2022. Major decisions are made by Church Meeting: all members are asked to meet every 2 months. Elders make recommendations to Church Meeting but ultimately decisionmaking rests with the meeting.

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

Trusts are distilled from the United Reformed Church Act (1972 and 1981) and Scheme of Union (1972) adopted 20 June 2011. The church is a member of the East Midlands Synod of the United Reformed Church, which owns the church buildings in Newport Pagnell and the Manse (occupied by the Minister).

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Newport Pagnell URC Trustees’ Annual Report 2021

Independent examiner

Michael Emery ACA (member of ICAEW) 22 St John’s Street Newport Pagnell MK16 8HJ

Bankers

Barclays Ltd Leicester LE87 2BB

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Solicitor

The charity does not have an appointed solicitor but has access to one via the regional office of the United Reformed Church: East Midlands Synod 1 Edwards Lane Nottingham NG5 3AA

Professional Team for the Mead Centre construction project

Architect/ Project Manager: Gavin Hinton Cook RIBA AADip Chartered Architect Hinton Cook Architects, 8 Linford Forum, Linford Wood Milton Keynes MK14 6LY Construction contractors: Archway Construction(Northants) Ltd 12 Queensbridge, Bedford Road Northampton NN4 7BF Quantity Surveyor: Tim Acott TJA Surveying Service Ltd 88 School Rd, Astcote, Towcester Northants NN12 8NN

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Newport Pagnell URC Trustees’ Annual Report 2021

Trustee selection methods

Those members of the Elders’ Meeting of Newport Pagnell United Reformed Church who are qualified to serve as charity trustees are collectively the Charity Trustees of the Charity and are appointed and shall act in accordance with the procedures for the time being laid down by the Church Meeting of Newport Pagnell United Reformed Church which shall be in conformity with the Scheme of Union of the United Reformed Church.

Elders are elected by the Church at the AGM (usually held in March) and serve for up to 3 years, then may be re-elected for a further 3 years, then must stand down for at least one year.

Risk management

The trustees recognise they have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Public benefit, objectives and activities

The Charity’s purpose as set out in its governing document is the advancement of the Christian faith for the benefit of the public in accordance with the Scheme of Union of the United Reformed Church

The church’s main objectives are:

To provide a Christian witness in Newport Pagnell, and wherever our members find themselves at work or at leisure

To provide regular Christian worship and teaching in a variety of styles to large and small groups, freely open to anyone

To develop Christian maturity in worship and daily living

To play our part in ecumenical work in Newport Pagnell, Milton Keynes and wider To be supportive of those in need, through friendship, caring action and prayer

To support other charitable work through financial donations, locally, nationally and internationally

To offer our buildings and facilities to other groups from our community, particularly to those promoting health, training or cultural activity

To develop our vision of a new centre, known as the Mead Centre, to replace an old church hall, through working with community groups, fundraising and work with an architect to coordinate the building project. The Mead Centre is due to open early 2022.

In all the above we believe we are operating for public benefit through the advancement of religion, development of community and support of those in need.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Information on all church activities is available from the website urcnewportpagnell.org or from the church office (tel: 01908 611427, email: secretary@urcnewportpagnell.org).

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Newport Pagnell URC Trustees’ Annual Report 2021

Use of Volunteers

Apart from the minister, everyone working for the charity is an unpaid volunteer. There are around 20 active volunteers, including the elders. Volunteers undertake a large range of roles including leading worship, pastoral care, running children’s and family activities, secretarial work, treasurer, buildings upkeep, work on all aspects of developing the new Mead Centre, community work, liaison with other local groups including churches, fundraising events and many others. All volunteers who have any role in pastoral care or children/family work are DBS checked. Some volunteers help with one specific area, others cover multiple areas and give enormous amounts of time to the church.

Grant making policy

The charity does not make formal grants. However from time to time the elders are made aware of an individual in need and may make a small discretionary award from church funds.

The charity normally supports the United Reformed Church 1% appeal, which asks churches to donate 1% of their annual general income to a URC fund ‘Commitment for Life’, which is donated via Christian Aid to finance specific projects abroad. A decision is made annually at the AGM regarding continuing to support this.

Occasional special collections are made for outside charities eg at Christmas or in response to national or international disasters: money is sent directly to the relevant charity.

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Newport Pagnell URC Trustees’ Annual Report 2021

Newport Pagnell United Reformed Church - Church Secretary's Report

Newport Pagnell United Reformed Church - Church Secretary's Report

January 2021 – December 2021

We entered 2021 still in vacancy, following the departure of our Minister Revd. Jenny Mills in September 2020. Having moved to producing online services earlier in the pandemic we once again provided similar worship. Revd. Ruth Maxey, Minister from Milton Keynes Church Without Walls, was appointed as our Interim Moderator, and a Call Group was formed. Church members and representatives from the Mead Centre, (our Community Building project) met regularly, initially via Zoom, to commence the process of finding a new Minister. Our Pastorate Profile had already been sent to Synod Moderators at the end of 2020.

Church life continued although we were unable to meet in person. We held regular Zoom sessions comprising various groups, Bible study, Sunday Coffee and Chat after the online service, and several opportunities to meet online during the week. Those without computer access received a hard copy of the Sunday service, and still continue to do so.

The Pastoral Group kept in contact with Church Members and friends, and although not meeting in person this gave everyone an opportunity to stay connected.

Face to face worship in the Church resumed in May, following the URC Moderators’ Guidelines, and initially numbers were reduced, though these increased over the Summer, and we were delighted to welcome some new Members. Adopting a cautious approach, we have not returned to running many of the pre-pandemic sessions, partly because of lack of personnel, and because people were reluctant to attend. We took advantage of the empty premises by having the Church decorated during the summer.

The task of finding a new Minister continued and in August 2021 the Call Group met with a prospective candidate, Revd. Jo Clare-Young. We invited her to Preach with a View, and this took place mid-October, over the weekend, giving her an opportunity to meet members of the Church and the Community, and vice versa. Following the service, a Church Meeting on 20[th] October voted to issue a call to Revd. Jo Clare-Young to be our Minister, a 50% scoping for the Church, and 25% Mead Centre, and she accepted.

Our previous Minister had now moved out of our Manse and arrangements were made for this to be decorated throughout, and preparations made for Revd. Jo Clare-Young and her husband to move into the Manse just after Christmas.

Plans for her induction on the 22[nd ] January 2022 are being drawn up, albeit scaled down because of Omicron restrictions, and we are looking forward to a new step in our Christian journey here at Newport Pagnell United Reformed Church.

Eva Bangle Church Secretary December 2021

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Newport Pagnell URC Trustees’ Annual Report 2021

Financial review – comprising our Reserves Policy and Treasurer’s report.

Reserves policy

The charity's reserves policy is to hold free reserves sufficient to cover 3-6 months’ ordinary expenditure. At 31 December 2021 the free reserves comply with this policy.

The general unrestricted funds cover general expenditure, funding for the manse and a regular monthly payment to central URC funds, calculated as around 52% of general income for the preceding year.

Restricted funds include the Buildings Fund (for maintenance on the buildings) and Visscher Fund designated for match-funding on buildings maintenance. The Mead Centre Fund is restricted for work to develop the new centre. Money collected for outside causes is held in a Special Collections Fund.

The free reserves, representing general unrestricted funds, amount to £15,252 at 31 December 2021 (2020: £10,884 ).

Treasurer’s Report

General Funds

The general account consists of unrestricted funds, and includes the manse funds. Income to the general fund includes regular donations from members and others, which have continued through the year, income from hire of the buildings and occasional fund-raising efforts. Until March 2020 the church building was in use daily during the week by local voluntary groups related to mental and physical health and local interest groups, as well as for church activities. All this stopped with the Covid-19 pandemic . Church Sunday services resumed during 2021, but not weekday activities, and the voluntary groups only started to return from Summer 2021 onwards so there was an overall reduction in income.

Expenditure from the general account includes the contribution to the URC Ministry and Mission Fund, calculated at 52% of the previous year’s income. This was renegotiated during the pandemic and a reduced amount has been paid. Other expenditure is on the upkeep of church and manse buildings, and the costs of the church’s mission. Fixed costs have increased especially fuel bills which were on new contracts from Summer 2021.

Staff costs: URC ministers are remunerated from URC central funds. As we had no minister throughout 2021 there were no ministerial expenses to cover. The cleaner works on a ‘contract for service’ basis and was on reduced hours because of the pandemic until Sept 2021.

The previous minister moved to a new post from 1 October 2020 but continued to live in the manse until August 2021. Rent was paid by the national URC and this has helped the general funds. Council tax and water rates, while still being paid from church accounts, were reimbursed by the national URC. The manse was empty for a few months and council tax was not payable as it is a house normally occupied by a minster of religion.

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Newport Pagnell URC Trustees’ Annual Report 2021

The unrestricted funds show a surplus of £4,368 for 2021. The previous year’s deficit has been reversed and this is due to the income from manse rental.

Building and Visscher Funds

Income to the building fund is from quarterly investment income, total £3,463 in the year. These investments are with CCLA and belong to the church. For many years the East Midlands Synod had held these on behalf of the local church: in 2019 Synod returned these to the management of the church. During 2021 it became clear that the Mead Centre costs were increasing owing to delays and rising costs of building materials. These can be attributed to the changed UK economy with the UK leaving the European Union, and also to the pandemic. The church decided to sell 5 of the six investment funds and this realised a total of £104,224 towards the Mead centre.

The Visscher fund was a memorial gift to the church some years ago and can only be used to match fund expenditure on church building maintenance. Any maintenance work on the church building can be funded 50% from the Building fund and 50% from the Visscher fund until the money is used. During 2021, redecoration of the church building and some electrical works were undertaken and the Visscher fund balance is now £25,681 .

Mead Centre Fund

This is our major capital project. Fundraising has been going on for 8 years to make the new centre a reality. Building work finally started in March 2020 with demolition of the old hall, and the first phase of building was nearing completion at the end of 2020. Work continued during 2021 despite delays. While we had hoped to open in the Autumn, we reached practical handover in early December 2021, but the building opening is still delayed because the mains water has not been connected. Total spent to end 2021 was £1,186,801, including construction costs, architects’ and surveyors’ fees and a professional fundraiser helping with grant applications.

Income to the Mead Centre fund in 2021 was from regular giving, fund-raising events and grants, totalling £445,651. Grants still to be claimed at year end were £28,163. The church also made a decision to take out a loan from the URC Trust of £75,000 to be paid back over 7 years starting in August 2022. The Mead Centre fund was in deficit by £9,828 at the end of the year. The deficit arose because expenditure was incurred in anticipation of income that was received after the yearend. The deficit is sufficiently covered by unrestricted funds at the balance sheet date. The total raised over the years for the Mead Centre is £1,280,136, including pledges. Total expected cost to complete the building including fitting hoists and equipment for people with disabilities is £1,343,615.

Work is nearing completion to register the Mead Centre as a separate charity, trustees have been appointed, a bank account opened and its finances will be separate from the church. It is disappointing that to date it is still not open and is starting to incur running costs while as yet it has no income. Negotiation will take place in 2022 regarding paying of the loan and in returning some finance to the church investment funds.

Fundraising for other charities

The church supports some charities regularly: Commitment for Life and Water Aid.

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Newport Pagnell URC Trustees’ Annual Report 2021

Plan for future periods

The church intends to continue working as it has done, expressing the Christian faith by words and action. The vision of the Mead centre as a community resource for all is continuing to develop: it is hoped to open in early 2022. There is wide support from the local community and a range of people on the management group.

Financially, the church is partly dependent on donations from members, and with an aging membership there are concerns about reduction in income. All members are asked regularly to review their giving in line with inflation and what they can afford. The church also receives significant income from use of the building by other local organisations: this was only reaching prepandemic levels by the end of 2021. The trustees are kept aware of the current financial situation via monthly reports from the treasurer.

Ruth Tompsett – Treasurer

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Newport Pagnell URC Trustees’ Annual Report 2021

Independent Examiner's Report to the trustees of Newport Pagnell United Reformed Church

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 12 to 21.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Newport Pagnell United Reformed Church you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Newport Pagnell United Reformed Church’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.

...................................... Michael Emery ACA ICAEW

22 St John Street Newport Pagnell Buckinghamshire MK16 8HJ

Date: 08/08/2022

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Newport Pagnell URC Trustees’ Annual Report 2021

NEWPORT PAGNELL UNITED REFORMED CHURCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Total Total
Notes Unrestricted Restricted funds funds
funds funds 2021 2020
£ £ £ £
INCOMING RESOURCES
Income and endowments from:
Donations and legacies 33,240 440,792 474,032 152,909
Charitable activities 100 0 100 406
Other trading activities 4,526 5,649 10,175 12,913
Investments 13,602 3,466 17,068 10,253
Other 0
Total 51,468 449,907 501,375 176,481
RESOURCES EXPENDED
Raising funds 9 3,438 3,447 4,567
Charitable activities 7 47,091 605,667 652,758 527,725
Total 47,100 609,105 656,205 532,292
Net income/(expenditure)
before investment -
gains/(losses) 4,368 -159,198 -154,830 355,811
Net gains/(losses) on
investments 0 12,982 12,982 9,672
-
Net income/(expenditure) 4,368 -146,216 -141,848 346,139
-
Net movement in funds 8 4,368 -146,216 -141,848 346,139
Reconciliation of funds
total funds brought forward 10,884 246,945 257,829 603,968
Total funds carried forward 15,252 100,729 115,981 257,829

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Newport Pagnell URC Trustees’ Annual Report 2021

NEWPORT PAGNELL UNITED REFORMED CHURCH BALANCE SHEET AT 31 DECEMBER 2021

Total Total
Note Unrestricted Restricted funds funds
funds funds 2021 2020
£ £ £ £
FIXED ASSETS
Investments 10 0 72220 72220 163462
CURRENT ASSETS
Debtors 11 4120 3270 7390 6772
Cash at bank and in hand 11132 101239 112371 92114
Total Current assets 15252 104509 119761 98886
CREDITORS
Amounts falling due within one year 12 0 -7000 -7000 -4519
NET CURRENT ASSETS 15252 97509 112761 94367
TOTAL ASSETS LESS CURRENT LIABILITIES 15252 169729 184981 257829
CREDITORS
Amounts falling due after more than one year 12 0 -69000 -69000 0
NET ASSETS 15252 100729 115981 257829
FUNDS
Unrestricted funds 8 15252 0 15252 10884
Restricted funds 8 0 100729 100729 246945
TOTAL FUNDS 15252 100729 115981 257829
Signed on behalf of all the Trustees on :
Signature Print name Date of Approval
Victoria Paulding 04.07.2022

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Newport Pagnell URC Trustees’ Annual Report 2021

Notes

1.Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Newport Pagnell United Reformed Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Grants

Grant income is recognised when the charity has entitlement to the income, it is probable that the income will be received, and the amount of the grant can be reliably measured.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs including general overheads and governance costs and have been allocated to activity cost categories on a basis consistent with the use of resources.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.

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Newport Pagnell URC Trustees’ Annual Report 2021

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Debtors

Debtors are monies owing to the charity at the balance sheet date, including gift aid in respect of donations received during the period.

Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Funds structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Restricted funds can only be applied for the purpose specified by the donor. Further explanation of the restricted funds is provided within the trustees’ report.

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Newport Pagnell URC Trustees’ Annual Report 2021

2 2020 SOFA breakdown by fund

Unrestricted Restricted Total funds Total funds
funds funds 2020 2019
£ £ £
INCOMING RESOURCES
Income and endowments from:
Donations and legacies 27,999 124,910 152,909 120,342
Charitable activities 406 0 406 321
Other trading activities 3,959 8,954 12,913 20,723
Investments 5,100 5,153 10,253 5,281
Other 0 0 0 0
Total 37,464 139,017 176,481 146,667
RESOURCES EXPENDED
Raising funds -36 4,603 4,567 3,351
Charitable activities 40,562 487,163 527,725 112,747
Total 40,526 491,766 532,292 116,098
Net income/(expenditure)
before investment
gains/(lossess) -3,062 -352,749 -355,811 30,569
Net gains/(losses) on 0 9,672 9,672 13,986
investments
0
Net income/(expenditure) -3,062 -343,077 -346,139 44,555
Transfers between funds 0 0 0 0
Net movement in funds -3,062 -343,077 -346,139 44,555
Reconciliation of funds
total funds brought forward 13,945 590,022 603,967 559,412
Total funds carried forward 10,883 246,945 257,828 603,967
3 Incoming resources
u/r funds r funds Total Total
2021 2021 2021 2020
Donations and legacies
Donations from individuals 31040 350747 381787 50422
Legacy 1000 10000 11000 0
Grants (see note 4) 1200 80045 81245 102487
Total 33240 440792 474032 152909

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Newport Pagnell URC Trustees’ Annual Report 2021

Charitable activities
other
100
0
Total
100
0
Other trading activities
premises hire
4519
0
Fundraising events
7
5649
Total
4526
5649
Investment income
Bank interest
2
3
Dividends
0
3463
Manse rent
13600
0
Total
13602
3466
Total Incoming resources
51468
449907
4
Grant income
Grants for Mead Centre
Co-op 2%
Middleton Gift
MK Community Assocation
Garfield Weston
Rotary Club
John Apthorp Charity
Anson trust
URC East Mids Synod
URC Trust
URC Trust
Laing Foundation
Total
Grants for church funds
East Mids Synod
Chinese Church
Pilots
URC Trust
Total		 100
406
100
406
4519
3248
5656
9665
10175
12913
5
287
3463
4866
13600
5100
17068
10253
501375
176481
2021
2020
4,546
25,000
25,000
25,000
499
11487
1,000
30,000
25,000
25,000
10,000
80,045
102,487
2021
2020
500
0
400
0
100
0
200
0
1200
0		 100
406
100
406
4519
3248
5656
9665
10175
12913
5
287
3463
4866
13600
5100
17068
10253
501375
176481
2021
2020
4,546
25,000
25,000
25,000
499
11487
1,000
30,000
25,000
25,000
10,000
80,045
102,487
2021
2020
500
0
400
0
100
0
200
0
1200
0
0
0
0
0
0

5 Trustees' remuneration and benefits

There was no trustees' remuneration or other benefits for the year ended 31 December 2021 or for the year ended December 2020.

There were no trustees' expenses paid for the year ended 31 December 2021 or for the year

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Newport Pagnell URC Trustees’ Annual Report 2021

ended December 2020

Donations made by trustees without any conditions attached totalled £345,432.

6 Independent examiner's remuneration

Examination-related assurance services

2021 2020 720 727

7 Expenditure on charitable activities

Activity
undertaken
directly		 Activity
support
costs		 Governance
costs		 Total Total
£ £ £ 2021 2020
£ £
Promoting the Christian faith 57,744 720 58,464 43,321
Mead Centre Project 562,884 31,410 594,294 484,404
Total 620,628 - 32,130 652,758 527,725

8 Movement of funds

Movement of funds
Net Transfers
Fund name Balance Income/ Investment between Balance
at
at 1/1/21 expenditure gain funds 31/12/21
£ £ £ £ £
General fund 13,354 -1,787 11,567
Manse fund -2,471 6,155 3,684
Building Reserve 177,873 -2,931 12,982 -104,224 83,700
Mead Centre 38,029 -152,081 104,224 -9,828
Visscher Fund 29,921 -4,240 25,681
Special Collections 1,122 54 1,176
Totals 257,828 -154,830 12,982 0 115,980

The Mead Centre Fund was in deficit by £9,828 at the balance sheet date. The deficit arose because expenditure was incurred in anticipation of income that was received after the year-end. The deficit is sufficiently covered by unrestricted funds at the balance sheet date.

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Newport Pagnell URC Trustees’ Annual Report 2021

Net movement in funds, included in the above are as follows

Incoming
Resources
Fund name
resources
Expended
£
£
General fund
37,868
39,655
Manse fund
13,600
7,445
Building Reserve
3,463
6,394
Mead Centre
445,651
597,732
Visscher Fund
0
4,240
Special Collections
792
738
Totals
501,374
656,204
9
Expenditure per fund
2021
u/r funds
Raising funds
Mead Centre
0
Other
9
Total
Charitable activities
Urc Ministry and Mission
24,438
Ministry costs
480
Minister's travel costs
87
Minister's removal costs
2,740
Cleaning
2,611
Maintenance/repairs
5,005
Phone/IT costs
1,450
Fuel/Water
1,468
Manse Council Tax
-321
Insurances
3,222
Publicity
Equipment purchase
405
AV System update
4,064
Licensing and fees
322
Gifts/grants to other bodies
400
Miscellaneous
Audit and accounting
720
Mead Centre legal/prof
Mead Centre other fees
Mead Centre build costs
Total
47,091		 2021
r funds
3,438
0
9,665
116
608
499
1,254
453
738
7
28,250
3,161
560,916
605,667		 Movement
in funds
£
-1,787
6,155
-2,931
-152,081
-4,240
54
-154,830
2020
u/r funds

-
35
-
35

24,840
522
491
2,417
2,073
1,428
2,624
1,179
2,752
27
868
520
95
727
40,563		 2020
r funds
4,602
4,602
1,027
86
413
900
1,355
3
29,319
454,060
487,163

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Newport Pagnell URC Trustees’ Annual Report 2021

Total expended 47,100
 609,105 40,528 491,765
10 Investments
2021 2020
£ £
Non-current financial assets
Financial assets at fair value 72,220 163,462
The fair value gain recognised in the Statement of Financial Activities in the period
is £12,982 (2020: £9,672) .
11 Debtors 2021 2020
£ £
HMRC - gift aid 7,390 6,772
12 Creditors
2021 2020
£ £
Amounts falling due within one year
Funds held for community
larder 1,000
Deferred grant income 900
Funds for AV system not spent (inc GA) 2,619
Legacy not spent 1,000
Loans and borrowings 6,000
Total 7,000 4,519
Amounts falling due after more than one year
Loans and borrowings 69,000 0

Of the amount shown above, £21,000 is repayable in more than five years by way of instalments.

13 Investment Funds

During 2019 CCLA investment funds, formerly held on behalf of the church by East Midlands Synod, were transferred to the direct control of the church. At that time it was not known if there were any restrictions on their use and they were accounted as restricted pending investigation.

Further information in early 2021 shows that the six funds include 5 related to former local village churches which all closed at least 25 years ago with the funds transferred to NPURC. The sixth relates to a former manse sold at least 50 years ago.

20

Newport Pagnell URC Trustees’ Annual Report 2021

The trustees have taken advice from the Directors of the Synod trust, including the Convenor of the Synod Finance who was a practising Charted Accountant with charity specialism until his retirement in 2018, that these funds can be regarded as unrestricted.

At a NPURC church meeting on 9 June 2021 it was agreed to realise the investment funds from the 5 former village churches. Investment gain was calculated at £104,224.20 and this money was allocated to the Mead Centre project and spent during 2021.

14 Related party transactions

During the year the charity received an unsecured loan of £75,000 from The United Reformed Church

Trust.

The loan includes a repayment holiday of 12 months and is then repayable via quarterly instalments over 6 years.

Interest is charged on a quarterly basis using the CCLA Charities Deposit Fund deposit rate, varied on 1 January each year.

Newport Pagnell United Reformed Church can repay the entirety of the outstanding balance at any point without incurring any penalty charges or additional interest.

21

Newport Pagnell URC Trustees’ Annual Report 2021

15 Detailed Statement of financial activities for year ended 31 December 2021 This statement does not form part of the SOFA report

Income over all funds

Voluntary income
Donations inc GA
Legacy
Mead centre donations inc GA
Mead centre grants
Church grants
Miscellaneous
Fundraising events
General
Mead centre
Investment income
Bank interest
Investment dividends
Manse rental
Income from premises hire
Raised for outside causes
Totals
Net gains on investments
Costs incurred over all funds
Church Activities Costs
Note
Urc Ministry and Mission
Ministry costs
Minister's travel costs
Minister's removal expenses
Cleaning
Maintenance/repairs
Phone/IT costs
Fuel/Water
Manse Council Tax
refund
Insurances
Publicity		 2021
2020
£
£
30,249
27,999
11,000
-
350,747
21,409
80,045
102,487
1,200
-
100
406
7
711
5,649
8,954
5
287
3,463
4,866
13,600
5,100
4,519
3,248
792
1,014
501,375
176,481
12,982
9,672
2021
2020
£
£
24,438
24,840
480
522
87
491
2,740
0
2,611
2,417
14,670
3,100
1,566
1,514
1,469
2,624
-321
1,179
3,830
2,752
0
65

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Newport Pagnell URC Trustees’ Annual Report 2021

Equipment purchase 903 440
Licensing and fees 775 1,768
Gifts/grants to other bodies 1,138 1,875
Miscellanous 7 33
AV system 5,318 0
Audit and accounting 720 727
Mead construction costs 560,916 454,060
Mead nonbuilding costs 28,250 29,319
Mead other fees 3,161
Fundraising costs 3,447 4,567
Total 656,205 532,293
Mead Centre Costs breakdown
2021 2020
£ £
Archway Construction 560916 454060
Professional and legal fees 28250 29253
Other fees paid 3161
Licensing costs 453 900
Fundraising costs 3438 4602
Publicity 0 65
IT costs 116 86
Insurance 608
Premises costs 285
Equipment purchase 499
Miscellaneous 7 5
Totals 597732 488971
Detailed costs of Professional and Legal fees above
2021 2020
£ £
Hinton Cook Architects 24156 21392
TJA Surveying 1814 1560
David Smith Associates 1440 0
KDK Archaeology 0 4015
Other survey/preliminaries 0 2286
JHAI 840 0
Totals 28250 29253

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