# **Report of the Trustees of the Ark Church for the period 6th April 2022 to 5th April 2023.** ## **Delivered at the AGM, 7.30pm, 12th September 2023.** 1. The total income of the church in the last accounting period rose by just over £11k on the previous year at £60940 (£49476) .This is encouraging, but largely due to the changes in delivery times of gift aid and some hang overs from COVID.. We remain thankful for the generosity of God’s people. 2. Expenditure in the accounting period was up by £4993 to £62095 (£57102) . 3. Stephen’s net salary amounted to £23401, Inland Revenue (tax & NI) was £5206 and pension costs totalled £2058. 4. You will be aware that in the previous financial year we moved out of a long term building share with the Methodist Church, which they terminated. We were forced to make changes OR face huge financial costs. Staying there would have seen a large ramp in rent, plus we would still have had to take on the stadium storage unit as that was no longer included at Trinity. Rent continues to be a significant cost to us, be it to Stadium Storage, The Holiday Inn, Living Word Church and the last contributions to the Methodist circuit totalling £12430. Whereas this was a rise of over £6k, by moving out of Monkgate we estimate we saved ourselves over £2k and had better facilities as a result. The huge contribution by volunteers to the move, over several weeks, was greatly appreciated. We expect this to drop in the current year due to increased use of Foxwood CC and that there will be no more contributions to the Methodists. 5. Our cleaning bill fell by £1340 and we expect it to be nominal ongoing. 6. Our telephone and internet costs fell almost by a half because of the move from £976 to £499. 7. The government refunded us £10824 (£6889) a rise of £3935 in gift aid. We thank God for charity law in this country and the contribution of the government to our outgoings! 8. In the 12 months since our last report, the website has continued to be a major ministry of the church touching and helping far more people than our gatherings. Also £6457 (£5165) of undesignated gifts were received on line, which is a 20% increase year on year. 9. Cash flow was good and we should say that we have done well, never having been late with any payment. 10. We have continued to support Ground Level to the tune of £68/month, CVM £20/month and keep our subscriptions up to date with the EA, OSL, CCLI, & CCPAS. We ran Halves throughout last year at an increased cost of just over £3k and that was entirely funded by designated contributions. We have also contributed £570 to Operation Restoration in Bolivia in the last year. 11.With the current pressure on the cost of living, the trustees recognise that there has been financial pressure on a lot of households and we continue to thank those who donate regularly for their great generosity. Church vision must always be matched by provision, and without you none of this could happen. 12.The Trustees were grateful to Karen Bruin who looked after our books and to Lauren Greenhow who audited them. In gratitude to God, and fully accepting the accounts as a true and faithful record this report is made by: Dr Jayam Lazarus, Trustee Pauline Redman, Trustee Graham Lawrence, Trustee Paul Anderson, Trustee ## **Ark Church Balance Sheet 6 April 2023** ## **Income** |**Income**|| |---|---| |Balance 6 April 2022 b/f|8917.06| |Non-designated by bank|27299| |Non-designated by internet|6457.87| |HMRC Charites|10824.75| |non-designated by box|13618.85| |Designated gifs (CVM and Halves)|2740| Sub-total 69857.53 Total ## **Expenditure** Rent Insurance Cleaning Subscriptions Books/Mags/CDs/Training Telephone/internet Sound and video equipment Compassionate fund Salaries HMRC Pension Contribution CVM Men's Ministry Ground Level Computer Equipment/software Posters auditor Christmas Events Operation Restoration Bolivia Halves Men's Nights Church-related items Office consumables Bank charges Sub-total balance 5 April 2023 c/f Total £12,430.30 £406.87 £7.78 £608.48 £1,802.07 £499.96 £1,310.35 £200.00 £23,401.39 £5,206.38 £2,058.84 £240.00 £831.00 £1,148.82 £38.47 £50.00 £235.85 £570.00 £3,055.65 £73.24 7533.67 £273.94 £112.58 £62,095.64 £7,761.89 £69,857.53 ARK - Audit of 2022-23 Accounts ## **1. Introduction** - 1.1. This report details the findings from the examination of the accounts of The Ark Church for the year ended 5[th] April 2023. ## **2. Independent Examiners Statement** - 2.1. I have completed an examination of the records held and I confirm that no material matters have come to my attention in connection with the examination. ## **3. Findings** ## Spreadsheet errors - 3.1. A review of the spreadsheet and back up documentation identified that there was evidence of reconciliations being carried out for all transactions recorded on the spreadsheet and within the bank statement and all totals accurately balanced back to the amounts on the bank statement. - 3.2. The auditor was advised and it was noted from looking at the records that the balance sheet did not yet balance and was misstated by a total of £848.81. Although not material, this should be reviewed and corrected if possible. ## Expenditure - 3.3. A random sample of 10 items of expenditure was chosen from the items recorded on the bank statement. Of the 10 items reviewed, 2 had no receipt to evidence the purchase and 1 had a receipt but was marked with the incorrect reference on the bank statement. - 3.4. All items appeared on the transactions spreadsheet and where the purchase was for halves, they were detailed on the halves spreadsheet. ## Income - 3.5. A random sample of 10 offerings was chosen and although it was not possible to verify the offerings in the receipt book due to the fact that some amounts are grouped together, the total balances for income and expenditure had all been reconciled and the total general offerings on the spreadsheet corresponded to the amount in the bank. - 3.6. It is also pleasing to note that prior to being paid in, the cash is independently verified and has been signed by 2 signatures as evidence that the check has been completed. ## Grant money - 3.7. The records in relation to all grant money received are good with all income and expenditure being recorded separately with a running total being kept of the remaining balance. This serves to ensure that the funding received is being spent for the purpose it was intended. 4. Recommendations - 4.1. The balance sheet should be reviewed and attempts should be made to identify the reason for the misbalance. - 4.2. Where possible, receipts should be provided to evidence that the expenditure recorded was appropriate and for the values stated. ## **5. Independent Examiner Details** |**Signed:**|L Greenhow| |---|---| |**Name:**|Lauren Greenhow| |**Professional**
**Qualification:**|CIPFA| |**Date:**|15.7.23|