Company Tegistration number. 00209503 Charity registration number: 247113 North Western Baptist Association (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 Decwnber 2023
North Western Baptist Association Contents Reference and AdmIntratiVe Details Trustees, Report 2to6 Independent Examillegs Report ststement of Financial Activities 8t09 Balance Sheet io Notss to the FinanciaL Statsments llto21
North Western Baptist Association Reference and AdMitrative Details Trustees Reverend Z Adeleye Reverend G Ayoma K Banks-Lyon R¢v¢rend J Bradbury Reverend P Jujnp Mrs D Londriau Mrs S Nutter Reverend S Oxley Ms L Quigley Mr M RHeaton Secretary Principal Office Independent Methodist Resource Centre Fleet Street Pemberton Wigan WN5 ODS Registered Office 1st Floor Block C The Wharf Burnley BBII IJG The Gharity is incoqK)rated in England. 00209503 Company Registration Number Charity RegistrationNllmber 247113 Bankers Unity TrL8t Bank Four Brindley Place BI 2JB Independent Examiner Champion TLL Lin)ited 7-9 Station lioad Hesketh Bank Preston PR4 6SN Page I
North Wtern Baptist Association Trnstecs, Report The trustees, who are directors for the purposes of company law. present the annual report tocrether with the fmancial statements of the charitsble COLDpany for the year ended 31 December 2023. Objects The objects of the charity as set out in its Memorandum of Association are: The advancement of the Cknristiall religion especiaIly by the means of and in accordance with the principles of the Baptist denomination as set out for the tin]e being in the Declatation of Principle of the Baptist Union of GreatBritain. Public BenefAt The trustees confirn 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. Report on 2023 Objectiv While we recognise the importance of setting and being beld to account against agreed objecttves, all important part of NWBA'S role is also being able to adapt to changing circumstances. and support churches as they do the satne. Perhaps one of the greatest lessons of recent years is that uncertainty cannot be avoided, and that flexibility and responsiveness are important to a succfill organitiOn &8 strategy and objtiVes. While we bave retained our focus on the agreed objectives for the year* oullined in our 2022 Annual Repor4 we have also responded to new initiattves and challenges &$ they have emerged. These have included: PROJECT VIOLET: A significant action rearch project inittated by BUGB to bigblight and respond to the experiences of wonlen in ministy and leadership. We have welcomed the issue rdise througb this and etwed positivety to consider bow NWBA should appropriately respon CHURCHES TOGETHER IN CHBSHtRE: There has been a need to support a significant transition in the operations of Churches Together in Cheshire in which NWBA Regional Ministers have played a major role, due to their associated responsibilities in this respecL LEARNING OPPORTUNITtES: We bave been pleased to support one of our ministers in establishing a network of Christian thinkers and activists to better understand the missional and theological implications of "Artificial Intelligence" We have also engaged in deeper parthersbip with Northern Baptist College in developing leaders. EVERYONE EVERYWHERE: We have been actively involved in an emerging network of Baptist leaders seeking to pIace a eater emphasis on mission and evangeli which is due to be lauuched at the 2024 Baptist Assembly. Engaging WAtb these has requtred us to re-prioritise some of our 2023 objectives, but we would report the following outcomes: Introduce and develop annual focus on discipleship: -ShariDg God's Treasure" was promoted through the year, also seeking to complement this with Tim's BUGB President's thell. MET Develop NWBA Team and embed Dew appointments: All plallned appointments were made. though the Church Life Minister for Cheshire stood down at the end of the year following a new appointment elsewhere. The team continued to work well together being appreciated by th¢ NWBA clllwches and leaders. MET Page 2
North Western Baptist Association Trnstees, Report Work with Renew Wellbeing: Unsurprisingly. growth of new settings has not been as marked as when this illitiative was launche but we have Continued to work in partnership, using this as a platforni to promote well-being more generally. MET Physical gathering/AG. We are gratethl to H1 Grove Baplist Church for hosting our first "in p¢rson" AGM gathering since 2019. this was well received and attracted a significant number of participants. MET Further consolidate and develop the Transitional Ministry Team initiativ¢: The team of transitional n]inisters has continued to grow with regular gatherings for learning and reflectiotL This has aIso attracted ministers in simiIar roles from outside our Associatio that we have been pleased to welcome. MET Offer and expand Leadership Development Hubs: Unfortunatety, demands and challenges elsewhere have not allowed us to give this the attention we hoped. It remains an important part of what we would hope to offer as an Association NOT MET Continue to offer and develop the work of the latchford L£arning Hub: The group met monthly througbout 2023 and continues to attract new participants as they rd themselves in new leadership Toles. MET Appointment of a part-time Communications & Digital Lead: A part time appoiDtinent was made in Autull)n 2023. MET Explore partnership Ivith B2Ptist Environmental Netiyorlc - Ivhile there remaiDS interest and con]miiment to this at local church leveL we have noÈ been able to develop this at Association leveL partly due to a cI]ange in peTsoDnel. NOT MKT Review & develop Ministers. Conference: A significant review w&8 Undertake thougb a significant part of the response indicated contentment with its present structure. Some changes have been made in the ]ight of comments and the event continues to be offered. MET Continue the l(WBA Pioneer Network: The network continued to meel faciIitated by a Regional Minister through 2023 MET Re-explore the development of #hub Church". Ivhile some broad convetsations have taken plac4 8nd local partnerships encourage4 this has not been developed fornially NOT MET Support BUGB human sexuality consultstion: The consultation proceeded throllgb 2023, NWBA supported churches and leaders through forn)al events and one-to-one engagemenL MET Skelrnersdale Ecumenical Centre: The Centre has reacbed a place of fillanci stability with the building debts now paid. NWBA RM continued to be secondment through the year. MET IDisciple} programme and BUGB Young Leaders initiativ&= The programme has been offered througlLOUt the year, and while participant numbers have not always been at the level hoped for, the progrdmme has been well-Teceive(L with a significant cohort ofyoung leaders engaging througblMPACT and similar events. MET Maintain core actÉvities (IMPACT, Safvduardingg W NAM development and oversighL CMD)= These have all been offered and conttnued through the year, with the Saft8uarding training backlog now largely addressed. Work has aIso been done on an onIine Ix)oking system vA]ich signifiCatY streaD]lined administration. MET BUGB finance review: NWBA officers and trustees have fiY participated in the BUGB finance review. MET Review and develop NWBA'S Safegn2rding resourw: This was undertaken in collaboration with BUGB. A key outcome of this is the online booking agement MET Page 3
North Western Baptist Association Trustees, Report Objectives for 2024 Facilitate a strategic review event for trustees and team members &8 a foundation for further consultations in the light of BUGB finance review. Continue to proniote a sense of belonging and purpose through the A550ciation theme"Open our Byes" Continue to offer and develop ongoing NVIBA initiatives and events incEuding, Ministers, Conference, Latchford Learning Conllnunity. Transitional Ministers, Home missio IfACT weekend. Pioneer Network etc. Develop an Association response to BUGB Project VioletrecoD)mendations with clear implementation aims and objectives. Engage with BUGB Finance review to put steps in p]ace for NWBA to be financially sustainable in the medium tern. Complete a series of consultation events for churches and leaders with particular reference to the BUGB Finance Review. Establish the NWBA support CIO witb initial support ph in place. Sustaiti our Ecumenical engagement with particular priority to supporting transition at the skelDrsda1e Ecumenical Centre and Churches Together in Cheshire. Participate in the Baptist"Everyone Everywhere" initsative to help churches and leaders to more fiY engage in n]ission developmenL Continue to develop and offer {Dtsciple} Progranune including a foundationaL Intern scheme. Continue to engage with "diaspoTa" thurches with specific intention to more thlly include co]wegations and members from non-British traditions. Work with Churches Together in Merseyside and Liverpool Free Churcb Council to develop an ecumenical recognition of the 40th Anniversary of "Faith in the City. in 2025. FINAIYCIAL REVIEW The Charity's main source of amiual Tecurring Éucome is a from the Baptist Union of Great Britain. BUGB income consists of Home Mission givin& legacies and other income. Our granf is a predetern]ined percentage of total inoome of BUGB in the financial year. This source has been subject to flucbjations over recent years and is dependent on the financial perforn]aDce of BUGB each year. BUGB has commenced a review into the fi]nding of associations to reduce the uncertainty that this causes. During 2023 NWBA received £102,430 (2022: £136.697) from the sale of closed churches. Otber sources ot income indude illdividual a[ Church donations. Although there is the review of BUGB fjnances currently underway, the trustees of NWBA are looking at alternative ways to fiud our activities and reduce reliance on BUGB. PLoe 4
North Western Baptist Association Trnstees, Report Expenditure is mainly in gants and stsff costs. with team metnbers empIoyed or seconded in different roles across the region. rnainly in part time posts. £139.939 of grant payments to Churc1 and projects were made in the year. The Baptist Pension scheme deficit contributlons are now £1 per montlL Investment portfolio gains amounted to £6,921. Overa]l a deficit orose on the unrestricted fund of £10314 ill 2023 - thankfully the charity has significant reserves to cover this, alld the trustees will continue to a deficit budget into 2024 by continuing to iuvest in stsffing and support for our member churches and their congregations. Funds Unrestricted funds The Charitys uDrestricted reserve ci)nsists of a general fimd and four designated fid& which at the year-end amounted to £795,155 (2022:£805,469) wbiclL the Trustees bave allocated as follows: General fund £215,355 SocÉal investment Propety £300,906 Contingency fund £200,000 (fornierly one yeafs nnI costs) East Lancasbire fulld £78,914 Pension reserve £Nil The pension reserve is to cover the calculated deficit that would be due to the Baptist Ministers Pension Fund for NWBA current and fornier employees. The fund is in sutplus and the reserve is no Ionger requireiL The improvements in the property owned by the charity in Melling and used for the work undertaken there is complete. It is considered that the cutTent valuation of the property will be in excess of the acquisition cost and improvements. with a n]arket assessment to be made, although there is no intention of disposing of the &8set. Restricted fund: Ministerial Emergency Fund: This 15 fided by donations and is used to enable stsidy grants and fmancial support for ministers in nee Grants of £2,125 (2022:£1,300) bave beenmade during the year. Investment Powers and Restrictions The Association uses the services of an investment manager for botb Association and Church inveslments. The policy Is to maximise return on invesÈment within a secure base. on a sound ethical platforni. Loans and grants The Association does not make loans available to churches.In addition to Home Mission grant ftdill we do on occ&sion'award grants to churches on application for Mission and Equipment and to cover deficits on the Baptist Ministers Pension FuThd (defjned benefit scheme). RerVeS pojicy The cI]arity has set aside £200.000 as a designatrd fund to cover one yeavs rutADing costs of the charity (excluding grant payments) due to the Wkcertainty of the amount of grant fimdi(r from BUGB, which in itself is dependent on ft8 and legacies for its own income. The reinIng reserves held in the general fillld are available for future projects. Page 5
North Wtern Baptist Association Trustees, Report STRUCTUR& GOVERNANCE AND MANAGEMENT Governing document The Company is governed by its Articles of Association dated 28th March 2019, as approved at the Special General Meeting of member cbur¢hes. Supporting the Articks procedures on electing trustees. Trustees serve for up to a three year period and a nlMUM nine years. FurtlLer sub committees are appointed when and if required by Council for specifioputposes. Risk Assessment The Trustees have introduced a risk nlagement process to assess busin risks and implement systems to mitigate these risks. The procedures will be periodically reviewed to ensure that they still meet the needs of the Charity. Custodian trusteeship The NWBA is a CustodiatL TnL%tee for many churC1S in its membership. It holds propety, stocks arld shares and bank accounts ITh its position as trustee. Deeds to properties are held with the B4)tist Union Corporation, other &ssets are held separately from Association own assets. Sm211 Compani provision statement This report has been prepared in accordance viith the sma][ companies regime under the Companies Act 2006. The annual report was approved by the trustees of the charity on 2 Septejnber 2024 aud sigu¢d on its behalf by: Reverend S Oxley Trustee Page 6
North Western Baptist Association Independent Examiner's Report to the trustees of North Western Baptist Association I report to the charity tr[teeS on my eKqmiti0n of the accou of the charlty for the year ended 31 December 2023 which are set out on pages 8 to 21. Respective responsibiIities of trust and examiner As the charity's trustees of Nortb Western Baptist Association (and also its directors for the puryoses of company law) you ar¢ r¢sponsible for the preparation of th¢ aG¢ounts in accordance wkth the requirements of tbe Companies Act 2006 ('the 2006 ACV). Having satisfied myself that the accounts of North Western Baptist Association are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinatio I report in respect of my exan]ination of your charity's accounts as CaEried out wider section 145 of the Clwities Act 2011 ('the 2011 Act,). In caing out my exatnination I have followed the Dlrections glven by the Charity Conm]ission under section 145(5)(b) of the 2011 ACL Independent examiner's statement Since North Western Baptist Association's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 ACL I CODfirm that I am qualified to widertake the examination because I am a member of tbe ACCA. which is one o£*he listed bodtes. I have completed my exan)io I CODfirni that no matters have corne to my attention in connection with the examination giving me cause to bejieve: l. accounting records were not kept in respect of North Westem Baptist Association required by sectio 386 of the 2006 A¢ or 2. the accounts do not accordwitb those records: or 3. the accounts do not comply with the accounting requirements of sectioll 396 of the 2006 Act other than any requiretnent that the accounts give a 'ttu¢ and fair view, which is not a matter considered &$ part of a independent examition. or 4. the accounts bave not been prepared in accordance with the methods and principles of the Ststement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Jreland (FRS 102)]. have no concerns and have come across no other matters in connection with the examination to which attention sILould be drawi in this report in order to eDable a proper understanding of the accounts to be reached. A Bell ACCA Champion TLL Limited 7-9 Station Road Hesketh Bank Preston Lancashire PR4 6SN 2 September 2024 Page 7
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North Western Baptxst Association (Registration llULuber: 00209503) Balance Sheet as at 31 December 2023 2023 2022 Note Fixed assets Other investments Social investments 14 14 332.166 300,906 379,984 300.906 633,072 680,890 Current assets Debtors Cash at bank and in hand 15 132,451 47.965 138,005 306,259 180.416 444264 Creditors: Amounts falling due within One year Net current assets 16 15.385 316,812) 165,031 127,452 Net assets 798,103 808,342 Funds of the charity: Restricted income funds Restricted fimds 2.948 2.873 Unrestricted income funds Unrestricted fi]nds 795,155 805,469 Total funds 17 798,103 808.342 For the fmancial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companie& Directors, responsibiEities: The members have not required the cl)arity to obtain an audit of its accounts for the year in question in accordance with section 476. and The directors acknowledge their responsibilitses for comptying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companÈes subject to the small companies regime. The financial statements on pages 8 to 21 were approved by the trustees, and authorised for issue on 2 September 2024 and signed on their behalf by. Reverend S Oxley Ttee Page 10
North Western Baptist Association Notes to the Financial Statements for the Year Ended 31 December 2023 I Charity status The charity is limited by guarantee, incoTpofdted in EnglaThd. and consequently does not have share capitaL Each of the trustees is Itable to contribut¢ an atnount not exceeding £10 towards th¢ assets of th¢ charity in the event of Iiquidation. The address of its registered office is: 1st Floor Block C The Wharf Burnley BBII IJG The principal place of business is: Independent Methodist Resource Centre Fleet Street Pemberton Wigan IWN5 ODS These fAnancial statements were athhorised for issue by the trustees on 2 September 2024. 2 Accounting polici Summary of significant accounting po]icie5 and key aceouDting estimates The principal accounting policies applied in the preparation of these fllwLGial statements are set out below. These policies have been consistently app]ied to all the years presentel unless otherwise stated. Statement of compliance The fmancial statements have been prepared in accordance with Acwunting and Reporting by Charities: Statement of Recommended Ptactice applicable to cl]arities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UL and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of hEland (FRS 102). They also compLy with the Companies Act 2006 and tsities Act 2011. Basis of preparation North Western Baptist Association Jneets the definitÈon of a public benefit entity wider FRS 102. Assets and liabilities are inittally recognised at bistorical cost or transaction value unless othenyise stated in the relevant accounting policy notes. Going concern The ITUStees consider that there are no nla1 uncertaiDties about the cknitys ability to continue Ls a going concern nor any significant areas of uncetsinty that affect the canying value of assets Ileld by the cbarity. Exemption from preparing a cash flow statement The charity is exempt from preparing a cash flow statemenL. Page Il
North Western Baptist Association Notes to the Financial Statements for the Year Ended 31 December 2023 Income and endowrnents All income is recognised once the charity has entitlement to the income, it is probable that th¢ income will be received and the amount of the income receivable canbe masured Teliably. Donations Donations are recognised when the charity has been nolified in Vltillg of both the amount and settlement date. In the event that a donation is subject to conditions that Tequir¢ a level of performance by the charity before the charity is entitled to the fimds, the income is defetr¢d and not recognised until either those GonditioDs are fully mel or the fiffilment of those conditions is wholty within the control of the cljarity and it is probable that these conditions will be fillfilled in the Teporting perio Grants receivable Grants are recognised when the charity has an entidement to the funds and any conditions linked to the grants have been meL Where perforn]ance conditions are attached to the grant and are yet to be me¢ the income is recogllised as a liability and included on the balance sheet as defted income to be released. Expenditure All expendttire is Tecognised once there is a legal or Constructive obligation to that expenditure, it is probable settlement is required and the amouTht can be measured re]iably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be direcdy attributed to particular headings they have been aIlocated on a basis consistent with the use of Tesources, with central staff costs allocated on the basis of time spenL and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raising funds These are costs incurred in attra¢ting voluntary incom4 the n]anagement of investments and those incwTed ill trading acttvities that raise fiulds. Charitable activities Charitable expenditure comprises those costs incutred by the charity ill the delivery of its activities and servlces for its beneficiaries. It includes both costs that can be auocated directly to such activities and those costs of an indirectnature necessary to support them. Grant provisions Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is un¢ertainty about either the timing of the grant or the ajnount of grant payable. Governance costs These include the costs attributable to the cl]arity's complianrx with constibjtional and statutory requirements, including audiÈ stratsgic management and trustees's meetings and reimbursed expenses. Taxation The cl]arty is considered to Pa the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable cotllpany for UK COEporation tsx purposes. Accordingly, tbe charity is potentially exempt from taxation in respect of income or capital gains received within catsgories covered by Chapter 3 Part I l of the cooration Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to cbaritable puoSeS. Page 12
North Western Baptist Association Notes to the Financial Statements for the Year Ended 31 December 2023 Programme reIated investments Programme related Investents are made in furtherance of the charitys objects and any investment return is secondary to the cl]aritable putpose supported by the investmenL Such investments are included at their cosL Any loss or impairnlent arising from such illvents is charged as part of charitable activities within the Statement of Fiuallcial A¢tivtti¢s. Fixed asset investments Fixed asset investments. other than programme related investments. are included at market value at the balance sheet dats. Realised gains and losses on investments are calculatsd as the difference between sales proceeds aud their market value at the start of the year, or their subsequent cosL and are cbarged or credited to the Stat¢eTht of FirnCIal ActivitÈes inthe period of disposal. Unrea]ised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the nwket value at the year en(L Trade debtors Trade debtors are amounts due from customers for mercbandise sold or services EKrfornied in the ordinary cowse of business. Trade debtors are recognised initsalty at the transaction price. They are subsequentty measured at amortised cost using the effective interest metho(L less provision for impairnienL A provision for tbe impairnient of trade debtors is established when there is objecttve evidence that the charity will not be able to collect all amounts due according to the original tern of the receivables. Fund structure Unrestricted income funds are geoeral fi]nds that are available for use at the discretion in fijrtherance of the objectives of the cbarity. Restricted income funds are those donated for use in a particular area or for specific purposes. the use of which is restricted to that area or purpose. Pensfions and other post retirement objigations The charity operates a defed contrl)ution pension scheme which is a pension plan under which fjxed contributions are paid into a pension fid and the charity has no legal or constructive obligation to pay fi]rther contributions even if the fund does not hold sufficient assets to pay all employees the benefits Telating to employee service in the current audprior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contnbution due for service. the excess is ttcognised as a prepaynkent. Page 13
North Western Baptist Association Notes to the Financial Statements for the Year Ended 31 December 2023 3 Income from donations Unrestricted funds Restricted funds Total 2023 Total 2022 General Donations Grants 54.184 253,985 308,169 1125 56,309 253.985 55,286 218,812 2,125 310294 274.098 Grants receivel included in the above, are as follows: Baptist Union of Great Britaill 243,485 243.485 243.485 218.812 243 485 218,812 4 Income from charitable 2Ctlvitles Unrestricted fidS Total 2023 Tot21 2022 General Youth activities. event& 50[Ce5 Ministers conference 12.147 11.943 12.147 11.943 14,989 10,412 24.090 24.090 25,401 5 Investment fineome Unrestricted funds Total 2023 Total 2022 General Unlisted investment income Listed investment income 200 1,836 200 1.836 200 2.683 2.036 2.036 2.883 Page 14
North Western Baptist Assocmation Notes to the Financial Statements for the Year Ended 31 December 2023 6 Otber income Unrestricted funds Total 2023 Total 2022 General Closed Churches Staff costs reimbursed Employment Allowance Miscellaneous 102,430 23,514 5,000 3,599 134 543 102,430 23,514 5.000 3,599 134 543 136,697 34,613 5,000 2,947 179,257 7 Expenditure on raising funds a) Investment management costs Unrestricted funds Total 2023 Total 2022 General Jnvestment management costs 3.574 3,574 3.574 4,673 4,673 3.574 8 Expenditsre OD charitable activitie5 Unrestricted funds Restricted funds Total 2023 Total 2022 General Note Home Mission Grants 132,139 7.800 264,940 77.620 132,139 7.800 264.940 77.620 121,154 28.192 243.915 67,630 Staff costs Other direct costs Ministerial Emergency Fund grants Ii 2,050 2,050 1,300 482,499 2,050 484,549 462,191 Page 15
North Western Baptist Association Not to the Financial Statements for the Year Ended 31 December 2023 9 Net incomingloutgoing resourc Net outgoijjg resources for the year include: 2023 2022 Independent Examiner's remuneration 1.080 1.080 10 Trustees remuDeratioD and expenses Rev P Jump (wbo as Regional Ministsr is also a bi]stee of NWBA): salary of £40,068 (2022: £37 422) authorised by the memoralldu and Articles. Housing payments of £12.955 (2022: £11.909) and travelling and other expenses of £6.864 (2022: £6.908) were also illcurred in the year. 11 Staff eosts The aggregate payroll costs were follows: 2023 2022 Staff costs during the year were: Wages and salaries Social security costs Pension costs 234,829 16,024 14,087 217.693 13.843 12.379 264,940 243,915 The montbty average number of persons (including senior management team) employed by the charity during the year expressed as fjjll time equivalents was as follows: 2023 2022 Mission and evangelis Adn]inistration 12 io 13 li No employee received emoluments of more than £60.000 during the year. 12 Taxation The chaTity is a registsred clwity and is therefore exempt from taxation on ivs charitable activities. Page 16
North Western Baptist Association Notes to the Financial Statements for the Year Knded 31 December 2023 13 Fixed asset investments Listed investments Unlisted investments Total Cost At l January 2023 Revatuation Disposals 375.979 5.1 (53,000) 4,005 379,984 5,182 (53.000 At 31 December 2023 328,161 4.005 332.166 Net book value At 31 December 2023 328.161 4.005 332,166 At 31 December 2022 375,979 4,005 379,984 14 Programme related investments Other investments Total Cost At l January 2023 300,906 300.906 At 31 December 2023 300.906 300.906 Provfision At 31 December 2023 Net book value At 31 Decen)ber 2023 300,906 300.906 At 31 December 2022 300.906 300.906 IS Debtors 2023 2022 Prepayments Other debtors 1.304 131.147 138,005 132,451 138,005 Page 17
North Western Baptist Association Notes to the Financial Statements for the Year Ended 31 December 2023 16 Creditors 2023 2022 Other creditors Accrnals 312,853 3.959 15,385 15,385 316,812 17 Funds Balance at 31 December 2023 Balance at i January 2023 Other recogllised gainsloosses) Incoming resources Resources expended Unrestricted funds General Fund Social investments - property Contingency fund E&st Lanc&shire Fund 213285 468,838 (473.709) 6.921 215,335 300.906 200,000 91278 300,906 200,000 78,9l4 (12,364) (486.073) 805.469 468.838 6.921 795,155 Ro8tri¢ted funds Ministerial Emergency Fund 2,873 2.125 (2.050) 2.948 Total funds 808,342 470,963 (488,123) 6,921 798,103 Page 18
North Western Baptist Association Notes to the Financial Statements for the Year Ended 31 Decejnber 2023 Balance Balance at Other at31 l January Incoming RoT recognised December 2022 rasollrw eellded Transfers gainsloosses) 2022 Unrestricted funds General Fund Social invesianents - propety Contingency fund East Lancasbire Fund Pension reserve 198.194 481,579 (465,564) 38.414 (39.338) 213.285 291,820 2(K),000 91.278 47.500 9.086 300.906 200,000 91,278 47.500 828.792 481.579 (465,564) (39,338) 805.469 Rutricted funds Ministerial Emergency Fund 4.113 1.300 2,873 Total funds 832.905 481.639 (466.864) (39.338) 808.342 Transfers between funds TTansfers between fimds in 2022 are: £9,086 from general fiuid to propety- atnount of general fimds invested in the Melling pmpety fA7,500 from pension reserve to general- ieduction in provision Fund5 are described in the Trustees ReporL 18 Analysis of net assets between fllnds Unrestricted funds Restricted funds Total funds at 2022 General Fixed asset investrnents Programnie related investments Current assets CuTrent liabilities 332,166 300,906 177,468 (15,385) 795,155 332.166 300.906 180,416 (15,385) 2.948 Totalnet assets 2,948 798,103 Page 19
North Western Baptist Association Notes to the Financial Statements for the Year Ended 31 December 2023 Unrestricted funds Rtricted fund5 Total funds at 2021 General Fixed asset investments PrograjDn related investments Current assets Current liabiIities 379,984 300.906 441,391 316,812 379.984 300.906 444,264 316,812) 2.873 Total net assets 805,469 2,873 808,342 19 Related party transactions Related paty transactions in the year are as disclosed in Note 9 and as noted beIovr. Rev P Jump {Tne and Regional Minister) is also a Tnjstee of Skeltnersdale Ecumenical Centre, registered charity. NWBA has received income frotll the Centre in the year. and paid invoices on its behal£ of which £7200 was outstanding at the year end. Trustees of NWBA may also be trteeShneMbcrS of member churches who from time to time receive grants from NWBA as part of the nornthl activities of botlL Rev P Jump is also a trustee of BUGB from which NWBA receives its core funding. 20 Baptist pension scheme The Association is an employer participating in the Baptist PeDsÉon Scheme (BPS). This is a separate legal entity administered by the Penston Tnce (Baptist Pension T Limited). The Ministers employed by the A&sociation are eligible to join the Scheme. From January 2012. pension provision has been made through the Defined Contr1UtiOn plan witbin the BPS. Other employees pension provision is with companies external to the BPS. Benefits for one employee (2022". 1) in respect of servAce prior to 1st January 2012 are provided through the Defllled Benefit (DB) Plan within the BPS. The main benefits: a defirled benefit pension of 1180th of Final Minimum PensionabIe 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. The BPS closed to thture aCCn of defmed benefits on 31st December 2011.
North W&stern Baptist Association Notes to the Financial Statements for the Year Ended 31 December 2023 A fornial vaIuatÈon of the DB plary relating to all employers w&s perfornied at 31 December 2020 by a professionaIly qualified Actuary usiug the Projected Unit metho The market value of DB Plan assets at the valuation date was £298nL The valuation of the DB plan revealed a deficit of assets compared with the value of liabilities of £18 (equivalent to a past fimding level of 940A). As a guIt of the valuation the standard rats of deficiency contributions payable by churches and other employers Ivolved in the DB Plan would remain at 12% of pensionable income. The recovery plan envisaged deficiency contributions continuing until 30 June 2026. Due to various changes however the deficit contrAbutioTh8 reduced to £1 per month in 2022. The expenditure for the year represents the employer contnl>utions payable. Page 21