NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Fairfield Church Charit no. 1138812 TREASURER'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Fairfield Church CHARITY REGISTRATION 1138812 TREASURER Howard White FINANCE COMMITTEE John Lau (Chair) Howard White Brian Ladd TRUSTEES Jackie Barton Paul Carey Milandeep Chander-Abraham Lesley Grattan Brian Ladd John Lau Paul Nettleship Howard White ASSISTANT TREASURER Cathy Clark PRINCIPAL ADDRESS Windsor Close Northwood Hills Middlesex HA6 1 PD INDEPENDENT EXAMINER Rockett & Co. Accountants 16 Rickmansworth Road Northwood Middlesex HA6 IHA INDEX Page Report of the Treasurer Report of the Paslor Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Accounts 9-12
NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Fairfield Church TREASURER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Treasurer presents his Report and the church's Financial Slatemenls for the year ended 31 March 2024. Name The name of Ihe church is Northwood Hills EvaNJelical Church {NHEC), also known as Fairfield Church. statement of Purpose The purpose of this church is lo provide a centre for Christian fellowship, worship, prayer, witness, Bible leaching and evangelism in Ihe vicinily of Northwood Hills and lo give support to Christian work in olhef platLs. The church also provides certain linancial assistance in cases of need. Trustee8 The Trustees whose nanies appear on the Charily Commission register and in whose name the prop6rty of the Northwood Hills Evangelical Church is vested on behalf of the church are a5 follows". Michael Askew {resigned 23 November 2023) Jackie Barton Paul Carey Mi18ndeep Chander-Abraham Lesley Grallan (appointed 21 Mareh 20241 Brian Ladd John Lau Paul Nellle8hip {appoin18d 23 November 20231 Howard While On behalf of the Trustees, the Finance Committee hold overall re8ponsibilily for the financial admini8lralion and management of Ihe church. Ils members are. John Lau - Chair HowArd While - Treasurer Brlan Ladd Flnanclal Revlew In the cUrn1 year, we have Seen the regular fellowship giving, induding Gift Aid, remain virtually stable. We continue lo see a slgnifi¢anl increase in our income Irom lellings al Fairfield, wilh new regular users of the building and an in¢fease n our Ghafge out rates and in a(Jdilion, we have seen an increase in our residential property incom8 following the completion of our refUlshMent programme Our reslricled income fell by £28.fJ)O, after the significant one-off gifts received last year were not repealed in the ¢urrent year. Our regular expenditure r08e by £8.(KJO, wilh maintenance on the church building and much higher utility Gosl$. as well as costs associated wilh our off slte bi-annual fell¢)wship meeting. offsel by savings on our mission support, followlng the return to Ihe UK of one of our long lem partners. The reduction in our reslricled income ha$ led to a consequential fall in our reslrided expenses, together Ythh the repayment of the funds held for the now Charity set up by one of our chur¢h members. We have ulilised a further £16.000 from our Property and Equipment Fu1 to complele the recent upgrades of our residential properties, with double glazing, carpets. decoration and kil¢kn equipment. Our General ReseNes h.ve risen significantly to £66,000. but we expect these to be run down over th8 coming year, with some high value projects to be undertaken during 2024125. Our Reslricled reserves are represented by money put aside lo fund visits to our overseas mission partners as well 35 subscripllons lo our Toddler group to cover expense9, while the monies in our Property and Equipment Fund are lo cover high value expenses on projects at Fairfield and our restdenlial properties wlh a long term benefit. Page 1
NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Fairfield Church TREASURER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Rlsk Management The Finance Committee actively review the major risks which the church faces on a regular basis and have established systems lo identify and mitigate any significant risks. The Ministry Leadership Team are led on financial matters by the Finance Committee. who regularly bring matters lo their attention for their review and rommenl as necessary. In the opinion of th8 Finance Committee. there 1$ currently no element of the (urch's activities which constitule a significant risk. Fundral8lng Pollcy The Charity does not use fundraising services. consultants or extemal professional fundraisers lo undertake any fundraising aclivilies. Additionally. no data is shared with or sold lo any external sources. The Charily invites individualg to allend services and events bul does not exert undue pressure lo attend or donate. 11 does not approach or pressure vulnerable people lo support its work. Reserves Pollcy The Finance Committee have vieWed the church's needs for reseNes In line wilh the guidance issued by Ihe Charity Commission and believe that Ihe aim should be to maintain a level of unrestricted reseNes where they would cover at least three monlh6 of the church's runnirvJ costs. The level of reseNes held al 31st March 2024 1$ therefore consid8d lo be adeqvale. The Property and Equipment Fund has been establi¥hed for many years. with annual allocations from the General Fund and it is used lo cover the cosl of major high Value prqeds with a long term benefit. This fund can be used lo cover Ihe cost of major expendllure al FaIrfk1. as well as any of the four residential properties and for the purchase for replacement and upgrading of the IT and AV equipmenl al Fairfield. During this year, we h8ve wmpS8ted the upgrade programme of our resMJential propertie$, wilh £14,000 spent on our Windsor Glose maisonette coverin9 carpets. double glazing. kitchen equipment. curtains and decorating and £1,000 on double glazing at our Seymour Gardens flat. There are no plans lo spend any signifant expetvllture on upgrading our properties in the Coming year. Publlc Benefll Within Ihe church's objectives of advancAng the Christian religion and edueation, when planning our aclivi16es for Ihe year. the Tru81883 and Management Team have consKlered Ihe Charily Commission's general guidance on public benefit, in particular, the specific guidance on charilies for the advanc£menl of rellgion. and also how planned activitie$ will contribute lo the aims and objectives that have been set. The living out of a fruitful Chrigtian faith expressed through love of neighbour and ¢onlribulion lo local communities and workplaces has a major positive public benefit for all parts of soclety arJ those impacted by it. Golng Con¢em The Trustees are satisfied th81. with thè lèvél of assets held by the church, it can continue as a going concem lor a period of at least Iwefve months from the dale of approval of these financial statements. The Trustees also have a reasonable expectation that the Charily will have adequate resourcw to continue in operation for the foreseeable future. As the Trust¢eg look fOard into 2025. we have assessed our main risk is that our membership may reduce, with people moving away from the aa and otheis passing away, bul wo a confident Ihal our regular income from our fellowship will remain al a similar level to prior years. wth much of our income received Ihrough Tegular standing order8 and from rsew members joining the church. We have also seen an increased use of our church building by ¢ommunity groups. which will bring an increase to our income. while our costs are carefully managed. Furthermore, we have previously seen thal when appeals are made lo Ihe church fellowship for addilional lunds, thes8 have been mel with a favourable response. Page 2
NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Fairfield Church TREASURER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Appolntment of Flnance Commlttee and Truslees Members of the Finance Committee are appointed by Ihe Truglees . Trustees are soughl and ppoinled by the Ministry Leadership Team of the NHEC. in conjunction wilh the Trustees. Flnanclal Statements The Trustees provide their lime and organise meelings on a voluntary basis. without chafge or cost to the church. It is Iherefore considered Ihere 15 no expenditure borne by lh& church attributable to governance in this respect. Responsiblllt188 for the Flnanclal Ststsments The Charilies Act require8 the chLErch to prepare financial slatemenls for ea¢h finanaal year which give a Iwe and fair view of the slate of affairs ol the church and of the ine£)me and outgoings of the church for Ihal period. The Finance Commillee through the Chair and Treasurer, lead this activity and when this work is done seek the approval of the Trusle6s for that work. In pParIng those financial statements, the Finance Committee are required to.. Select suitable accounting poliueB and Ihen apply them consi$lenlly. 2 Make judgemen15 and estimates Ihat are reasonable and prudent. 3 Slate whether applicable accounting standards have been foll¢)wed, subject to any material departures disc108ed and explained in the financial siatemenls. Prepare the financial slalemenls on a going concern basis unle89 it is in•ppropriale lo presume that th8 Ghurch will continue in 0ration. On behalf of the Trustees. the Flnance Committee are responsible for keeping appropriate accounting records which disclose with reasonable accuracy al any time the financial position ol the church and lo gnable Ih8m lo ensure Ihal Ihe linan¢ial slalemenls comply with the Charilies Act 2011. They are also responsible for 58feguarding the assets of the church and hence for taking steps for the prevention and detection of fraud and other irregularilies. Howard While Tasurer 8th December 2024 Page 3
NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Fairlleld church PASTOR'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Rèport on the Aetivltle¥ of the Church It has been a busy year for Fairfield Church as we conlinue lo develop and implement our five year strategic plan lo fulfil our vision - A Place to Belong, Knowing Jesus and Making Jesu8 Known. Currently. the church has 105 members. with some members moving away and another passin9 away. and we have been excited lo welcome several newcomers ir¢lo our fellowship. Over the past years, we have focused on several key strategic priorities to fulfil our vision, including nurturing understanding and ownership of our vision and mission, enhancing the quality of our morning seNices and welcome, strengthening our children and youth ministry. deepening yayer and discipleship, improving pastoral care, and building up our SUPPDrt services Ilinance, administration and our buildings and facilily management). Otsr leadership and ministry teams have been actively working on Ihose areas, and we have seen significant changes, although some area9 remain work in progrèss. In the next 12 months, we will shift our focus lo other priorities. such as leadership structures. outreach, wortd mission and worship. Our ministries ha'e continued across all areas during this time. and we a immensely grateful lo everyone who seTves faithfully and sacrificially. Fairfield Church has deployed its resou8 towards the purposes of a local church as follows:_ al Stafflng In August 2023, we welcomed our new Family and Youlh Worker, Michael Adesanya. His role is broader than Ihal of our previous youth worker, now coverin9 ove(sight of all our childrén's minislri¢s and emphasising engagement with the parents and earers of young people lo provide holistic care. Our full-time Office Manager, Candy Crane, Iransilioned to lh8 rol8 of Church Operations Manager in January 2024. taking on the role of managing the smooth running of all church operations (human and physicall and to coordinale all related operational and administrative task8. We plan lo recruit a paid slaft member or bring in volunteers. lo take on the day-to-day office admini8lralion support responsi.1111es in the coming months. Our church runs numarous activities Ihanks lo the dedication of volunteers throughout the year. A key role of the full-lim8 staff is not just lo carry out tasks. but to train, develop. encourage and organise others lo contribute. Our Sunday $eNicè$ are managed by a leam of slx In-hou8e preachers, several service leader8 and four team$ of musicians. b) Mlnlstrlè• Adv8ncing God's Klngdom Involves both staff and volunleers providing opportunities for people to explore the Good News of Jesus Christ. Alongside our weekly Sunday morning seNice. we run a range of regular ministries throughout Ihe week and year. includlng a coffee shop, Tiddlywinks lour baby and toddler groups), open youth aclivilies, bl-monlhly services for those with learning difficulties, mid-week Connect GToups for studying the Bible, prayer and p8sloral support. a women's Bible Study, a midweek fellowship group as well as weekly and monthly prayer meetings. We have Introdud lermly Cross-generational soaaS events to slrenglhen relationships across the age ranges and provide opportunilies lo invile olhefi8 from oulslde Ihe church community. These evenl8 are designèd to be fun and interaclive. We are also involved with people directly connected lo our church who are living and working abroad in God's service. We provide financial support, share their news. and pray for Ihem regularly in our church services. This year. we were especially blessed to have several of them visil us from their places of ministry as far afield as Uganda. Mexico, Argentina and France. c) Pastoral Engagement A key aspect of caring for our community is pastoral ca. In the past year our team, Currenlly four ¢hurch members under the Paslorfs leadership. h88 focused on expanding the team's capacity and enhancing the effectiveness of our processes to provide better care and ensure no-one is overlooked. We have shifted ffom being primarily actIVe to a more proactive approach, which is bearing fiuit, wilh many levels of support offered across the fellowship. Our care includes providing practical SUPPK)rt on a short-tem and emergency basis. induding small finan¢lal gifts and loans, AddilionalSy we offer emotional and spiritual support through face-ttrfa and phone nversatIOns, assi81ing people access help from external agencies and praying for each other. Page 4
NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Fairfield Church PASTOR'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Report on the Activltles of thè Church Icontinued) d) Communlty Engagement Beyond our ministries aimed #t serving aNJ engaging with the k)cal community. Ihe Fairfield building continues lo be a popular venue for external groups. These groups include U3A, Kumon tutoring. NHS blood donatson clinics. and Hillingdon Council's "Heallh and Flexibility" workshops. among others. These activities provide wonderful opportunities lo build relationships with the wider community, as well as generating an important revenue stream to support the work of the church. In summary, the 2023124 financial year has been eventful for Fairfield. especially wilh the ongoing strategic plannlng process. The next year should see further slialegic develoFKnenls imp16menled. and we look foN4ard to flectIng on and reporting the imp8cI of these in next yearfs report. Paul Tanner Pa81or Page 5
INDEPENDENT EXAMINER'S REPORT TO THE COMMITTEE ON THE FINANCIAL STATEMENTS OF NORTHWOOD HILLS EVANGELICAL CHURGH Also known as Fairfleld Church We report to the Trustees on our examir¢ation of the financial statements of the Charily for the year ended 31 March 2024. whid) ¢ompr¢se the Statement of Financial Activities. the Balano Sheet. and the related note3. This report is made lo the Trustees, as a body, in accordance with the term5 of our engagement. Our work has been undertaken so that we might carry out an Independent Examinalion of the financial slalemenls in accordance with the General Directions given by the Charity CommsSIOn8Ts. To the fullest exienl peTmitted by law, we do not accept or assume responsibility to anyone other than the Charity and Ihe Charity's Trustees as a body for our work or for this report. Rè8pon8lbilltles and Ba818 of Report The Charity's Trustees are responsible for the preparation of the accounts in accordance with the requirements ol Ihe Chafilies Act 2011 {'the Act'l. The Charity's Trustees consider that an audit is not required for this year (under section 144121 of the Charities Act 2011) and that an Independent Examination is required. We r6POrt in r8$pect of our examination of Ihe Trust's accounts carried out under section 145 of the 2011 Act and in carrying out our Examination we have followed all the appliGable Directions given by the Charity Commisslon under section 14515)Ib) of the Act. Independent Examlnèr'8 Ststement We have completed our examination. We confimi Ihat no material matters have come to our attention in connection wilh the examination giving us cause to believe that in any malerial respect . accountlng records Yre not kept In respect of Ihe Trust, as requlred by section 130 of the Act., or th6 accounts do not 8rd with Ihose records: or tha accounts do nol wmply with the applicable requirements Conrning Ihe fomi and cnntenl of accounts Set out in the Charities l Accounts and Report81 Regulations 2008 other than any requirement that the accounls gSve a 'truo and faif vlew vthich is not a matter considered a8 part of an indepandenl examination. We have be drawn concerns and have come acro8$ no other matters in connecllon with the examlnalion to whlch allenllon should nthisr rd8r to enab proper understanding ol ihe accounts to be reached. N A Ro¢kell for and on behalf ol ROCKErr & co Accounlanls 16 Rickmansworth Road Norihwood Middlesex HA6 1HA 8th December 2024 Page 6
NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Fairfield Church STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Property & Equlpment Fund Genernl Fund Note Unrestrl¢ted Restricted Building Fund Tolal Funds Total Funds Income Voluntary Income Donations, gifts and legacie5 Activltles for Generatlng Funds Receipts for use of premises and sundry olh8r recoveri85 Invèstment Income Rental in¢ome and property expenditure reimbursemenls Interest received 153,833 18.277 172,110 199,937 47,686 47.686 32,292 29,507 498 29.507 498 14,463 434 Totsl Income 231,524 18.277 249,801 247,126 Expgndlture Costs of raising funds Charitable activities Other expenditure 186,486 720 17,815 16.450 220,751 720 285.987 2,100 Tolal Expondlture Net Ineomelloutgolngsl for the Year before tr•n8fer8 187.206 17.815 16,450 221.471 288,087 44,318 462 {16,4501 28,330 140,9611 Transfers between funds Net In¢omelloutgolng$) for the Year after tran8fers 19,0 19.000 25.318 2,550 28,330 (40,9611 Balan¢es brought foNard al 1 Apdl 2023 Balan¢6s carrled lorward al 31 March 2024 41,214 2,495 1391.159 55,144 1,490.012 1,530 973 66,532 2,95T 1.J91,159 57.t•94 1.5115,J42 1,490,U12 The notes on pages 9 10 12 form part of these financial 8tatements. Page 7
NORTHWOOD HILLS EVANGELICAL CHURCH Also known a8 Fairfield Church BALANCE SHEET AT 31 MARCH 2024 2024 2023 Note Flx&d A88•18 Tangible fixed assets 1,397,489 1.398,354 Current Assets Debtors Deposit accounts Other bank balances 6,357 64,818 51.394 122,569 6,453 64,440 32,087 102,980 Llabllltles: amounts lalllng due wlthln one year 1,716 11,322 Not CurrentA58ets 120,853 91.658 Net A88ets 1.518,342 1,490.012 Funds General Fund- unrestricted reslricled 66,532 2,957 1,391,159 41,214 2,495 1,391,159 55,144 11 Building Fund Property & Equpm8nl Fund 1.518,342 1,490,012 The noles on pages 9 10 12 form part of these financial slalemenls. Approved on behalf of Ihe Trustees on 8th December 2024 8nd signed by-. Howard White - Treasurer Page 8
NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Fairfield Church NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng Pollcleg Basls of a¢tountlng The financial slalements have been prepared in accordantk with the Statement of Recommended Practice.. A¢counting and Reporting by Charilie3 preparing their accolfnts irt accordance with the Financial Reporting Standard 102'The Financial Reporting Standard appllcable in the UK and Republic of Ireland,. The financial statements have been prepared under the historical cosl convention. as modified lo include the valualion of land and buildings. Income Donations, gifts and grants are credited lo income when received. IncomÈ from curring sources such as letlings and subsciiplions from members is recorded as and when it becomes due. Expendltur• All expenditure 15 included on an accruals basis and all cosls have been directly attributed to one of Ihe funcllonal calegories of resources expended in the statement of financial a¢tivilies. Tanglble flxed as•ets Depreciation 18 provlded at the following rates in order to write off each asset over its eslirn8ted useful Ilfe as follows.. Furniture and eqvipmènl 20% on cost Depr8cialion is not provided on the freehold land and buildings. Donatlons, gllts and lèga¢le8 Donotlons, glfts and legaci88 are credited to the income when received. Donatlono for capltal exp•ndlture Donallons re¢8lved for capitsl expermlilure s credited to income vthen received. The difference tWeeft the lolal donated and the cumulative depre¢ialion charge relating to Ihe relèvant assets Is carried foTrtsrd under rèstricted lund8. Equlpment Fund The fund Created for capital equipmnl similady only reflects under expenditure the annual depreGiation charge on relevant asset5, not the tolal cost. Fund A¢¢ountlng The purpose of each fund is set out on page 2, with Curn1 adivily a1 balances in notes 11 and 12 to the financial statemènts. Flnanclal Instruments The Gharity only enters inlo basic financial irtstrument transactions that result in the reGDgnition of financial assets and liabilities like Irade and olher debtors and credÉtors. They are initially recognised at transaction value and subsequently measured at their setttemenl value. Entity of the ChaTIty Thè charity is a public benefit enttty. P89e 9
NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Fairfield Church NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2024 Proporty & Equlpm&nt Fund 2023 General Fund Unrestrlcted Restrlcted Total Total Costs of ralslng funds 3 Charltsble actlvltles Salaries, national insurance and other staff costs Visiting speakers Trainlng, recrlfilment and seminars Mission support Speci81 Gare, other gifls and support Youth work Outreach Catering Bibles, music and CD'8 Subscriptions Cleaning and refuse Church building insuranee and utilllies Premises and equipment repairs and maintenance Re8idential property maintenance costs and ulilitie8 Photocopying. p051age, stationery a1 offic Telephone and intemel Sundry Church week.end away Depreciation- furnilure and equipmenl Disposals Bank charges 84,708 250 893 36,100 1.900 1.640 2,648 602 84,708 250 87,066 769 96,577 1,626 827 2,285 529 170 982 1,738 9,812 12.775 63,435 3,006 1,680 17.815 53,915 1,900 1,840 2.648 602 180 1,540 2.275 16.060 16.170 26,893 3,295 1.540 2.275 16,(0 16.170 13.072 3.295 1.004 173 3,738 13.821 173 3.738 2,629 2,629 2,624 (2001 288 285,987 238 186,486 238 220.751 16,450 4 Other Expendltura Professional fees 720 720 2,100 2024 2023 5 Total Expendlture Staff Co8t8 Oeprecl¥tSon Other C08ts Total Total Charllable actNities Other 81.888 2,629 136,234 720 136,954 220,751 720 221,471 285,987 2,100 288,087 81,888 6 Employees 2024 2023 Wage5 and salaries Social security costs Staff pension conlribulions 77,114 1,216 3,558 81.888 80,685 1,354 3.124 85,163 Average number of employees No employee earr £60.000 or more. Page 10
NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Fairfield Church NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Land Furniture and and Bulldlngs equipment 7 Tangible Flxed Assets Total Cost or valuation Al 1 April 2023 Additions Dispo881s At 31 March 2024 1.391.159 38.720 1.764 1,429,879 1,764 1,391.159 40.484 1,431.643 Accumulated dopreclatlon At l April 2023 Charge for year Eliminated on disposals Al 31 March 2024 31.525 2.629 31.525 2,629 34.154 34,154 Net book values Al 31 March 2024 1,391,159 6,330 1,397,489 At 31 March 2023 1,391.159 7.195 1,398,354 The value placed on the church building by the project architects. HSD Building Consultants Limited, in March 1994 was £725,000, which exceeded the Valuati and relevant land costs previously induded in the accounts by £418,035. 2024 2023 8 Dobtors Incom6 lax recov8rabl8 6,357 6,453 9 Llabllltlos:. Amounts falllng duo wlthln one year Accruals and deferred income 11,322 10 Capllal Commltments and Contlngent Llabllltles There were no Capital commitment8 or contingent liabililies at the balanc 8heet date. 11 General Fund - Rostrlcted Balance Movement In Re8our¢es Balan¢8 At 1.4.2023 Ineoming Outgolng At 31.3.2024 Christian worl( and 8UPPOrt 2.495 18.277 17,815 2,957 12 Analyfjls of Net Assets 8Ètween Fund Tanglble Flxed Assets Net Current A8Sfrt8 2024 2023 Tolal General Fund - Restrlcted 2.957 2,957 2.495 General Fund . Unrestrfcted 66.532 66.532 41,214 Bulldlng Fund 1,391.159 1,391,159 1,391,159 Property Fund 6.330 1.397,489 51,364 120,853 57,694 1.518,342 55,144 1,490,012 Page11
NORTHWOOD HILLS EVANGELICAL CHURCH Also known as Falrfield Chur¢h NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Proporty & Equlpment Fund 13 Comparatlve Information 2023 Total Funds Gèneral Fund Unrestricted Restrlcted Bulldlng Fund Incom@ Voluntary Income Donations, gifts and legacie$ Actlvltles for Generatlng Funds Receipls for use of premises and sundry other recoveries lftvestmont Income Rental income and property expenditure reimbur8emenl8 Inlerest received 152.933 47.004 199,937 32.292 32,292 14,463 434 14,463 434 Total Income 200.122 47,004 247,126 Expendltura Costs of ralslng funds Charilable activilies Other expenditure 178.836 2,100 54,577 52,574 285,987 2,100 Total Expendlturo Net IncomellOutgolng8) for the Year belore trnn8fer8 180.936 54,577 52,574 288,087 19,186 {7.573) (52.574) (40,961 > Tran8f•r8 betwèon funds Net In¢ome for thè Year after transforn 19,250 19,250 {64) (7.573) (33,324) (40,9611 Balances brought foNard at 1 April 2022 88lanceB carrled forward at 31 March 2023 41,278 10.068 1391.159 88,468 1,530 973 41,214 2.495 1,391,159 55,144 1.490,012 Page 12