St Catherines Church Burbage
Financial Report Year Ending 31 December 2023
The financial accounts for the year to 31[st] December 2023 shows the following, with a comparison to 2022:
| to 2022: | ||
|---|---|---|
| 2023 (£) | 2022 (£) | |
| Income | 121,206 | 119,909 |
| Expenses | 121,688 | 105,297 |
| Profit/Loss | -482 | 14,612 |
| Assets | 57,326 | 45,201 |
| Liabilities | 40,359 | 27,752 |
So, as you can see the income is up slightly and expenses are substantially higher which has led to an operating loss in 2023 of £482, which considering the economic climate I consider to be well within the ability to manage and function.
You will also note that we have assets exceeding liabilities. The main assets is the balance in the bank accounts along with monies owed in gift aid from HMRC. The liabilities are made up mainly of expenditure incurred in 2023 yet not paid until 2024 as well as outstanding fees payable to the diocese.
The main source of income is, as we are all aware, from giving, weddings, and funerals and it has been an up and down year for this.
Many of you will recall my talk to the congregation in August on giving in conjunction with my note in the notices in June when I showed that on the current rate of giving at that time we would be in severe financial trouble sooner rather than later, topped off with a projected shortfall of @£6,073 in giving for 2023.
Since then the projected shortfall went from that to:
September £7,622 November £5,180 December £3,871 Actual shortfall
So by digging deep into your pockets we have managed to make a significant dent into the shortfall for or main sources of income.
In addition, we have also had some super results in our fundraising activities with profits raised on the following:
Christmas Fayre £2,967 Burns Supper £1,270 Irish Evening: £ 447 Rectors Ball £2,081
In addition to this we discovered that we are eligible to reclaim any VAT that we pay on building repairs, so a refund was claimed and paid of £2,768.
All of our obligations were met apart from some outstanding fees owed to the diocese for weddings and funerals, and the Parish Gift was paid in full along with the balance of the loan from St Peters which has enabled us to increase the balance in our reserve bank account to £15,500.
It is also worth noting that we are still maintaining payments of £1,000 per month into this account along with a standing order to the diocese of £2,000 per month for the parish gift.
Once again it has been an eventful financial year which we have survived and my thanks once again go to all the congregation, Father Andrew and the finance team.
Tim Neal Treasurer
St Cathgrln8s Church Burbag8 Flnanclal Roport Ygar Endlng 31 Docombor 2023 The financial accounts lor the year to 31 si De(£mber 2023 shows the following, with a c(xnparison to 2022." 20231£) 121.206 121,688 482 57,326 40,359 20221£) 119.909 105,297 14,612 45,201 27,752 Incorne Expenses ProfiVLoss Assets So, as you can see the income is up slighvy and expenses are substantially higher which has led to an operatiThJ knss in 2023 of£482, whth considerirKJ the economic dimate I consider to be well within the abilty to manage and functKJn. You will also note that we h8ve assets exceeding liabilities. The rn8in assets IS the balance in the bank accounts akjng with monEs owed in gift aid from HMRC. The liabilities are made up mainly of expenditure incurred in 2023 yet mt paid until 2024 as well as outstandin9 fees payable to ihe diocese. The main sour(% of income is. as we are all aware, from giving, weddings, and funerals and it has been an up and down year lor this. Many ol you will recall my talk to the congregation in August on giving in conjunction with my note in the notices in June when I showed that on the current rate ol giving at that time we would be in severe finanaal trouble sooner rather than later. topped off with a projected shortfall of @£6,073 in giving for 2023. Sirr* then the projected shortfall went frcffj that to. Septernber £7.622 November È5.180 December £3,871 Actual shortfall So by diggingdeep into your pocketswe have m8nage(J to m8k8 a signrficantdent into the 8hortf811for or main sources of income. In aijdition. we have 8180 had some sup8r re8ults in ourlundr8i$ingactivitig$with profits raised on theloiiowing-. Chnstmas Ftyra Burns Supper Irish Evenin& Rectors Ball £2.967 £1.270 £ 447 g2.081
In addition to this w8 discovered thatwe are 81igib18 to r8ciaim 8ryVATthatwe pay on building repairs. so a refunij w8s cLaim8d and paid of £2.768. All of our obligationswere met apartfrom sorne outstsndingfees owed to the diocese forwedding5 8nd funer8is. and the Parish Grtwas paid in full 8longwith the ba18nce of the loan from St Peter5which has enabled usto incre890 the balance in our reserve bank account 10 £15,500. It IS 8Lso worth notingthatwe aT8 Still maintaining paym8ntsof £1,000 per rnonth into this account 8longwith 8 stsnding orderto the diocese of £2.000 per rmonth forthe parish gift. Once again tt h85 been an eventful fin8ncialyear which we have survwed and mythank5 once again 80 to sllthe congregation, F8thèrAndrew and thefinanee team. Tim Ng8l Tr8asLJrer
St Cath•$ Church An•ty•l• of Incomg and oxp•ndlturo $91g¢tgd pgrlod: 01 Jjnuary 2023 to 31 Dgc•rnbgr 2023 Tfrtal eomln9 111)10- F8esfNwdln fLhiwals 11073 12073 16.(lJg 724 1>%15- RoYR( 01(W)10-Gin knj-standlng Oi 01(WO.Glft &l.W¢•kty Envowb 021M)1o.Othwwd gwlng- SlaThingOrdws 441 25.383 441 25,383 2Z,243 124 124 1414 1414 Vl8&kly Env81opas 5.172 1,861 O3W15.C0nROCOYts ¢)YY)20.GII Ehv•lOPO•. 00.¢017 atWéddlry& Fumrals 1,e45 FLYd RaIng 18 547 10.011 o810.TaX GIft 10.thhwthythgener•tsJ OXWO. 14èAyCMrth 11175 11175 810 810 oirth5- PLAnMJMJU8ILEE EVENTS e78 12&) OMS. DONATICIS ¢HRISTUS REX REFURB 05. PlaDNmRos0 Gatthn StA)rbSorSp 05. Datfodlknmm 030. May F•yT• OO- N4lnl 138 182 f&)100-Ch[islTh Fa• (&)105. 8aeofkn (&)120. 1(M)c 0120. 135- OW140- lrfbh IfJ)270.CottÈb&C*•& 1443 2.gn 24 1.997 2213 2,213 11012 12012 4.014 525 120120-ChuTthhal 120JOO. 92.031 94.244 g•nw•l•Lllund• Tol•ts 17 21)24 Pag• I
T ••tnoiid LMty• 9.778 13.379 120110-Churth hall1•knb1 121035- Lgnl 1210- 121150- P¥AmSunday Lunth 29 1.2 107 107 271 11.238 11,230 14, Om5. DEFI8RILATOR Gfl4Nr 08(N)15. KINGS CORONATKK4 IREES S.39) 6.2 s,e61 7.287 0th155.WaTrSp3ce Grants 1)300.8¥&Ch¥o8 ROfd 130350.VATREcMED 130400.$4**r 2.768 15,72S kncominB fEsources Grand totals 118.400 1212 171M)35. RectST PWCosts 170115. LL¥Kh(>A 71 17020$. 14è&&yCIRXth Exp¢n•o• 170240. Bbap8a1¢( 2)I0.or 127 8.470 127 8.470 2310. Ph 231W. 23201Q.WthlloCrq &576 270200.CHRL8TitsREX REFUR818HMENT 170195- PlaDNm Gatthn 1105. Rev 170. RectSBa1cCts 17fAN5.AffQfflLlT••c0L 17rO-ClISts F•TO 170120- 170130- 81 In&h Ev•nlng 170210- May Fa¥c(lS 231075.VLlUntEmp 615 615 .931 1364 470 470 1.407 Totsis 34.149 34.149 31.165 17Awl 2024 Pa9•2
Th•y Luty Ch&iirAbl••t&vifiès l7(o.Ph Lunch 1810-ch¥11ab10 1W)10-Pwsh Gfft 20.FrGI 231010.(T•fw1k 24(M)10.El8th 241WO-Ga& 35LO.r 2W70.Fnind&of)bC 25(thO.Pth Oulln9 27(M)25.AVSystèrn 27(KO.Pv 2Tfthi.WlaquD 27fy)70-M•n Po1 25,( 711 771 iyj 35 27S 31J16 28.477 Gov•nMnc•costs Z(W30.EffWuyee Co41• 202100-Tax & Nl 21(M)10.QwgYèXr 23(N)10. Irranc0 2221• 22, 21,01 6.1 4.631 4.925 241110-G•%vd Eloth 49. 49, 46,143 2291 145 231CW- MEMORI EETrKHES 2JICW. KINGS COR(WTWY4 TREES 232015-WIFI 2320.2 LICEFf 2.713 2.T13 Ji $77 6221 6J14 R•8ourc8• Grand total• 121.65 12•7 )24 Pag•3
St Cathwln•• church Balance Sheet (Summaryl A5 at.. 31 Decernber 2023 4Jiiiw2023 As a)1112tt022 Flx•dxs•ls TaryJlbhJ 1.373 8,3n 8.373 8.3n 19.698 31.62T 57.326 45.201 U15 40 359 2T,F52 17,418 25,821 TaL11 lbIl¥ 2455• 25,821 •prn$ont•d 158,T22 D•slgnal•d 12J16) 12.3481 DoYad. ParishLands(>•ty 750 Des91ad. &br¥)& Lhn9 1119J411 Dwad. Lunthc Dowad. Qu04wTM Pwty2016 I11)) 361 113.e031 3ei Pew (5.4611 15.4611 1,239 dw¢h 24JJ* 26,821 17AwI2024 Pkpl
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