## ## ## ## |Trustee|name|Office|(if|any)|Dates
ear|acted|if|not|forwhole|Name
to a|ofperson (or body) entitled
oint trustee
ifan|ofperson (or body) entitled
oint trustee
ifan| |---|---|---|---|---|---|---|---|---|---|---|---|---| |Anthony|Miles|Chair||||||||||| |Wendy|Massey|||||||||||| |Emelye|Chanot|||||||||||| ## ## ## ## ## ## |Brief statement|Brief statement|ofthe|BSCwas fortunate
to receive initial seed funding
from a number oftrusts| |---|---|---|---| |charity's|policy|on reserves|and individuals
when
itwas formed
in 2015.| ||||However,
BSCremains
reliant each year on financial
gifts from| ||||individuals,
trusts and churches
within
Bristol and beyond
which can be| ||||one-off, ongoing or fora limited
period oftime. Given this dependency,| ||||the trustees
believe
it appropriate
to target reserves at approximately
six| ||||months ofongoing
expenditure
plus the budgeted
deficit for the next year| ||||before new fundraising.
The reserves at31"August 2021 were F27,900The projected| ||||expenditure
and deficit for 2021/22 before new fundraising
were F36,000| ||||and f9,000 respectively
giving a reserves target off27,000. Reserves| ||||therefore represented
103'/o oftarget.| ||||The trustees consider this level ofreserves reasonable
but continue to| ||||seek new sources ofincome
in order to reduce the 2021/22 deficit.| ||||BSCstarted the year with projected expenditure
exceeding
pledged| ||||income by F11,000. We are very grateful to God for existing donors who| ||||have continued
to support BSCand for the 218,500 ofadditional
gifts| ||||received
from trusts (F12,500), churches
(F4,500) and individuals| ||||(F1,500) - leading
to an overall increase
in income ofover 30/o to| ||||F35,500 and a surplus
ofR4,000.| ||||Total expenditure
increased
to 531,500. As explained
above, most of| ||||BSC's new activities
duding the year related to the development
and| |Financial|performance||rollout ofChristmas
in a Boxand Easter in a Box —together they
accounted
for approximately
half oftotal expenditure
in the year. These| ||||'new costs' were offset by a reduction
in the consultants'
other activities| ||||due to the pandemic
such that the 'net cost' was principally
the f5,400| ||||cost ofthe materials
themselves.| ||||Time did not permit the planned
further development
of BSC'swebsite| ||||with planned
expenditure
ofF3,000 rolling forward
into next year.| ||||We start 2021/22 with a projected shortfall
ofE9,000 including
these| ||||website costs. We hope to reduce this deficit by increasing
the number| ||||of churches
which support
financially
the ongoing Christmas
and Easter| ||||in a Box roects.| ## |CO
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