NORTHERN BAPTIST CORPORATION LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees, who are also directors for the purposes of company law, have pleasure in presenting their report
and the financial statements of Northern Baptist Corporation Limited ('the Corporation,) for the year ended 31
December 2023.
The financial statements have been prepared in accordance V￿th Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities prepanng their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) -
(Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) and the Companies Act 2006.
Objectives and activities
The Trustees have taken cognisance of the Charity Commission for Northem Ireland's guidance on public benefit
as defined in the Charities Act {Northem Ireland) 2008.
Northern Baptist Corporation Limited is established to advance the Christian faith for the public benefit by
promoting the interests of Baptist Churches in Ireland. This benefit extends to the publi¢ through the member
churches of the Association of Baptist Churches in Ireland (Association) and through the work they do together
as an Association by making known the Christian Gospel of the Lord Jesus Christ and through the provision of
premises for public worship, the provision of opportunity for education of those entering ministry, engagement in
Christian mission and delivery of a variety of Christian ministries.
Achievements and performance
Throughout the year the Corporation continued its work on behalf of the churches in the Association, providing
trustee, financial and legal services.
Trustee se￿ices
Northern Baptist Corporation Limited continues to operate as property holding trustee for Baptist Churches. One
property sale took place during the year. and the Corporats'on took possession of one building following the
closure of a church.
Guarantees
The Corporation continues to assist eight churches by way of guarantee over debt. No new guarantees were
issued during the year.
Church Loans
The Corporation has provided loans to seven churches to assist with the purchase or renovation of buildings.
Five new loans were issued during the year.
Retired Ministers Housin
Scheme
Six properties continue to be employed in the Scheme providing housing to retired ministers. No property
additions or disposals were made during the year.
Investment
Interest rates improved significantly during the year, allowing the Corporation to resume earning investment
income for churches and departments of the Association. During the year the Corporation placed funds in deposit
accounts on behalf of five churches.

NORTHERN BAPTIST CORPORATION LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Achievements and performance {¢ontinued}
ort to Association of Ba
tist Churches in Ireland
The Corporation continued to promote the interests of Baptist Churches in Ireland through supporting the work
they do together as an Association in a variety of ways during the year. Financial support was given to the Insight
Magazine and to assist with administration costs associated to the ABCI 2013 Retirement Benefits Scheme. The
Corporation continues to allow the Association the use of the Baptist Centre as a facility in which to undertake its
work.
Association of Ba
tist Churches in Ireland Minist Su
ort
During the year the Corporation provided financial support to sustain the work of the Association Ministry
Support. Throughout the year this vital function has provided counsel and guidan￿ to over 50 individuals
involved in Pastoral Ministry and also support of churches that are wthout a pastor. This Scheme has proven to
be a great help as assistance and advice is given for a variety of settings.
Income Protection Scheme
This valuable Scheme continued to operate on behalf of the churches. This Scheme provides an Insuran￿ for
churches whose pastor experiences a period of long te￿ illness. There are cU￿entlY no ongoing claims under
this Scheme.
ABCI 2013 Retirement Benefrts Scheme
°the Scheme"
The Corporation continues to provide a guarantee in favour of the Trustee of the Scheme over the Deficit
Reduction Contributions to the Scheme as detailed in the schedule of contributions dated 2 December 2022.
The Corporation remains in Contingent Assets agreements with the Trustee of the Scheme under which there will
be a charge over properties owned by Northern Baptist Corporation with carrying value of £332,000 and a
charge over £175,000 of funds held in escrow.
Financial review
The results for the year are set out in detail on pages 11 to 24. The Corporation recorded net income for the year
of £248,602 (2022- £316,029).
At the year end cash at bank and in hand was £3,780,028 (2022 £3,648,509). It should be noted that the
majority of this balance is represented by deposits held on behalf of Churches, Trusts and Association
Departments.
At 31 December 2023, the total funds of the Corporation amounted to £5.681,191 (2022 - £5,436,403). All of the
funds of the Corporation are unrestricted funds. However. funds totsling £4,377,665 (2022 - £4.236,786} have
been designated by the directors for specific purposes, which are explained in more detail in note 18.
Unrestricted funds are considered to be essential to support the work of the Corporation in promoting the
interests of Baptist churches in Northem Ireland, which indudes providing financial support to the Association of
Baptist Churches in Ireland as required. Unrestricted funds are also essential to provide sufficient ￿ndS to cover
any unforeseen costs which may arise and to fulfil the legal obligations of the Corporation. The free reserves of
the charity at 31 December 2023 are represented by unrestricted and undesignated net current assets and
amount to £867,148 (2022 - £781.606).
Conduit funding
The Corporation received £Nil funds from the Dobson Twst during the year which was distributed to a church on
behalf of the Dobson Trust. There was no closing balan￿ owng at 31 De￿mber 2023 (2022 - £9,625).

NORTHERN BAPTIST CORPORATION LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Structure, governance and management
Northern Baptist Corporation Limited is a company limited by guarantee and does not have a share capital. It is
governed by its Memorandum and Artides of Association. which were most re￿ntlY updated in February 2018.
The liability of each member of the company is limited to an amount not exceeding £1. The Corporation is
controlled by the Executive Committee of the Churches. Council of the Association of Baptist Churches in Ireland.
Directors are sought according to the needs of the Corporation. New directors are briefed on their legal
obligations under charity and company law, the content of the Memorandum and Articles of Association, the
committee and decision making process and re￿nt finanaal perfomiance of the charity.
Responsibility for the day to day running of the charity is delegated to the company secretary. Mr D Ramsey.
The Trustees, who are also the directors for the purpose of company law, and vtho served during the year and up
to the date of signature of the finanaal statements were=
Mr S Glasgow
Mr R Millar
Mr D Nicholl
Mr J Mccluskey
Mr P Smyth
Mr M Patterson
Mr l Grant
Pastor E Ewart
Pastor N Walson
(Resigned 13 May 2023)
(Resigned 11 May 2024)
(Appointed 13 May 2023)
(Appointed 20 May 2024)
Statement of Trustees. responsibilities
The directors, who are also the trustees of Northem Baptist Corporation Limited for the purpose of company law,
are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting Pradice).
Company Law requires the directors to prepare financial statements for each financial year which give a true and
fair view of the state of affairs of the charity and of the incoming resources and application of resources, including
the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the directors are required to..
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed. subject to any material departures
disclosed and explained in the financial statements., and
prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the
charity will continue in operation.
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statements comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.

NORTHERN BAPTIST CORPORATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Auditor
In accordance with the company's artides. a iesolution proposing that GMCG 8ELFAST be reappointed as
auditor of the company will be put al a General Meeling_
Small Companies Exemption
In preparing Ihis report. the directors have taken advantage of the small companies exemptions provided by
section 415A of the CompaniesAct 2006.
Disclosure of infomiation to auditor
Each of Ihe Trustees has confirmed thal Ihere is no information of which they a￿ aware which is relevant lo the
audit, but of which the auditor is unaware. They have further confirmed that they have laken appropriate steps lo
identify such relevant infomialion and to establish that the auditor 15 aware of suth information.
The Trustees. report was approved by Ihe Board of Trustees.
Mrs
las
Trustee
Mr D Ni¢holl
Twslee
3 Ig IgLI?¢
Dated:...