## Report of the Trustees of the Ark Church for the period 6th April 2024 to 5th April 2025. ## Delivered at the AGM, 7.30pm, 21st October 2025. 1. The financial year that we are speaking of tonight was the first to have Paul Anderson as Chair, being joined by Karen Bruin and Richard Ayres as Trustees. 2. The total income of the church in the last accounting period was significantly stronger than the previous year at £77639 (£59084) – an increase of £18555. This is a great blessing, and we remain thankful for the generosity of God’s people. 3. Expenditure in the accounting period was down by £1775 to £57358 (£59133) 4. Stephen’s net salary amounted to £24270, Inland Revenue (tax & NI) was £4817 and pension costs totalled £2172. 5. Rent covers the use of Foxwood Community Centre, a storage Unit at Stadium Storage and the church Office in Huntington Road. Total rent for the year was £9006 (£9802) which was a fall of £796. 6. Cleaning is now provided by the community centre and so has disappeared from our outgoings. 7. Our telephone and internet costs have risen to £613 (£477) a rise of £136. Insurance was £514 (£487) a rise of £27. 8. The government refunded us £8225 (£7843) a rise of £762 in gift aid. As with other years the variation in gift aid is as usual to do with the differing dates on which we claimed our refunds. We thank God for charity law in this country and the contribution of the government to our outgoings! 9. 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 £11292 (£5967), of undesignated gifts were received on line, which is a rise of £5325. - 10.Cash flow was our best ever and we should say that we have done well, never having been late with any payment. - 11.Having transitioned to being an Ichthus link church, we have contributed £1689 in the last financial year. Also we kept our subscriptions up to date with the EA, OSL, CCLI, & Thirty One Eight. Total Subscriptions were £469. We ran Halves throughout last year at an increased cost of £4821 (£4368). We have also contributed £175 to Operation Restoration in Bolivia in the last year. - 12.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. - 13.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: Paul Anderson, Trustee Karen Bruin, Trustee Richard Ayres, Trustee ## **Ark Church Balance Sheet 6 April 2025** **Income** £ Balance 6 April 2024 b/f 7,712.97 HMRC Charities 8,225.05x Non-designated by bank 43,540.00x non-designated by box 14,581.15x Non-designated by internet 11,292.82x ## **Expenditure** Audio auditor Bank charges Books Christmas Events Church-related items Compassionate fund Computer Equipment/software CVM Men's Ministry Halves HMRC Icthus Insurance Internet Men's Meetings Office consumables Operation Christmas Child Operation Restoration Bolivia Pension Contribution Rent Salaries Sound and video equipment Subscriptions Sub-total Total **85,351.99** balance 5 April 2025 c/f Total ## _£_ 1,773.03 x 50.00 x 116.87 x 1,476.10 x 442.16 x 3,346.49 x 0.00 286.78 x 120.00 x 4,821.45 x 4,817.92 x 1,689.30 x 514.23 x 613.18 x 238.53 x 658.00 x 289.00 x 175.10 x 2,172.75 x 9,006.20 x 24,270.08 x 12.03 x 468.92 x 57,358.12 27,993.87 85 351.99 ## ARK - Audit of 2024-25 Accounts ## Introduction - 1.1. This report presents the findings from the examination of the accounts of The Ark Church for the year ended 5th April 2025. ## Independent Examiner's Statement - 2.1. I have conducted an examination of the records held and confirm that no material matters have come to my attention in connection with the examination. ## Findings ## Spreadsheet - 3.1. A review of the spreadsheet and supporting documentation indicated evidence of reconciliations being performed for all transactions recorded on the spreadsheet and within the bank statement. - 3.2 A discrepancy of £50 was identified as part of the reconciliation process and the reason for this wasn't identified at the time of receiving the accounts. ## Expenditure - 3.2. A random sample of 10 expenditure items was selected from the bank statement records. Of these: - 3.2.1 Two items lacked receipts to evidence the purchase; however, one appeared to be for rent as an ongoing purchase and the auditor was advised that no invoice was received from them but this will be asked for going forwards. - 3.2.2 Two of the sample items exceeded a value of £250. The auditor was informed that all transactions over this amount are authorized by the trustees and that this is minuted as part of trustee meetings. - 3.2.3 All items were recorded on the transaction spreadsheet, and where applicable, purchases were detailed on the halves spreadsheet. ## Income - 3.3. A random sample of 10 offerings was selected. The following was noted : - 3.3.2. It was not possible to verify the offerings in the receipt book due to some amounts being grouped together. However, the total balances for incomeand - expenditure had been reconciled, and the general offerings on the spreadsheet corresponded to the bank amount. - 3.3.3 Prior to being deposited, the cash is independently verified and signed by two individuals, providing evidence that the check has been completed. ## Grant Money - 3.4. Records pertaining to grant money received are comprehensive, with all income and expenditure being recorded separately and a running total maintained of the remaining balance. This ensures that the funding received is utilised for its intended purpose. ## Recommendations - 4.1. Receipts should be provided when possible to evidence that the recorded expenditure was appropriate and for the stated values. ## Independent Examiner Details Signed: L Greenhow Name: Lauren Greenhow Professional Qualification: CIPFA and CMIIA Date: 5th May 2025