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2023-03-31-accounts

SLIC annual report and accounts 2022 / 23

25th June

Welcome and introduction 5 minutes
Looking back to 2022 / 23 5 minutes
Election of Committee 10 minutes
General fund 5 minutes
Projects fund 5 minutes
Risks 5 minutes
Questions 10 minutes

AGM agenda

AGM agenda and overview

Bank balance (YE closing balance)

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Welcome and introduction 5 minutes 80
75.315
Looking back to 2022 / 23 5 minutes
70
63.837
63.196 2017 2018 2019 2020
Election of Committee 10 minutes
60 2021 2022 2023
53.519
General fund 5 minutes
48.807
50
Projects fund 5 minutes 43.238
40 37.598
Risks 5 minutes
31.215
29.408 29.094
27.93
Questions 10 minutes 30 26.571 26.767
23.781
20
10
0
General Projects
Thousands
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Trustees team

Motion to elect 2 more Trustees

Looking back to 2022 / 23

Members (including children): 241 Additional joining on Sundays or engaging in some way : 48

Baptisms: 9

Weddings: 2

Prayer: Fearless Prayer Online; Encounter Weeks/Prayer Rooms; Prayer for the Persecuted Church; Upper Room worship; Prayer Away Day (New Forest)

Newcomers: Hello & Welcome events (one per term)

: Collectives and Training 11 with most meeting in-person and some online (including international regulars). Cross-Cultural Evangelism Online; BOTR; The Hazel Project Training

: Local Outreach and Community English classes (minor hall/online); Community Cafe; The Homework Zone/Young Life; Awaaz Radio; B-Fit dance classes; Doorto-Door; Life sessions; The Mark Drama; Festival of Light; Silver Lining gatherings; A World Cup Christmas and Carols & Curry; Winter Shelter

Looking at the finances in context

2020 (2020/21)

2 years ago Start of Covid restrictions for England Online services. Minor building work

2021 (2021/22)

Services in church + online Most activities restart during the year Financial year we are reporting on

2022 (2022/23)

Last year Services in church (online available)

General fund

Income
2022 / 23 Value £ Change Change £
Vs. 2021 Vs. 2021
Income 89,166 +8% 6,700
Expenditure 93,567 +11% 9,134 Gift Aid
Balance(bank) 63,837 (including allocation
for repayments and
B&D of £22k)
Property(non-current assets) 902,609 0% - Gift Income Other Other
Events
Interest
Key Income Value Change Key Costs Value £ Change Expenditure Other
£ Vs 2021 Vs 2021 Hospitality Expenses
Gifts(inc cash) 69,099 +3% Salaries 61,337 +5% Telephone, Broadband and…
HRMC gift aid 11,347 -21% Utilities 5,673 +12% Tech/Online Costs
Hiring building 3,037 Insurance 5,458 +12% Repairs and Maintenance
Technology 4,316 -27% Mortgage Interest
Upkeep 4,618 -38% Rates, Power and Insurance
Salary Costs
- 10,000 20,000 30,000 40,000 50,000 60,000 70,000
2021 2022

Building fund

180000

Income to date (since 2013 inc loan)
- Loan value (exc interest)		 Income to date (since 2013 inc loan)
- Loan value (exc interest)		 Income to date (since 2013 inc loan)
- Loan value (exc interest)		 £681,523
£108,597		 160000 Loan paid
Spend to date (since 2013) £679,259 140000
2022 / 23 Value £ Change Vs.
2021 %		 Change Vs.
2021 £		 120000
Gift income + gift aid 26,543 -236% -£36,049 100000 Loan balance
Expenditure (inc capex) 11,529 241% 6,742
Forecast
Loan payments 23,792 (Plus £4,957 is interest repayment) 80000 2025
Church building capitalisation
60000
Capex in this period 11,529
Capex in prior years £599,655 40000 2027
20000
2029
0
Loan

Team expenditure (net spend)

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Team Forecast Actual
Resources / Promotional 1000 857
Hospitality 1500 1472
Worship / Technology 1400 2068
Kids / Youth work 750 405
Prayer room 68
1000
Events 1002
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Appeals
Project Projects fund
2022 £
Vs 2021		 Vs 2020 Balance BF £ 20,000 2,118
435
234
984		 Naujavan
Help Fund
Ganeshpur Church
Good Shepherd School
Hope of Glory Foundation
Ganeshpur church Income 2,118 56% 45% 6,430 Other
Good Shepherd Expenditure
Income		 1,007
435		 -1%
-43%		 -54%
9%		 6,191 15,000 3,397 1,007
7
107
431
School Expenditure 7 -49% - 2,634
Hope of Glory Income 234 518% -58% 381
Expenditure 107 -82% -66% 10,000 7,055
Help fund Income 3,397 -5% 68% 2,441 4,243
Expenditure 2,634 17% 44%
Naujavan Income 7,055 -22% -32% 27,460
Expenditure 4,243 5,000
Other(inc appeals) Income 8,408 -32% 53% 337 7,424 7,438
Expenditure 7,869 0% -41%
Other includes appeals, including for IFES, Young Life, Pakistan floods, OM Christmas and TF Africa
Hazel Project – Tempora rily holding f nds of 10940 at year end Funds sent to Hazel charity in April -

Other includes appeals, including for IFES, Young Life, Pakistan floods, OM Christmas and TF Africa Hazel Project – Temporarily holding funds of 10,940 at year end. Funds sent to Hazel charity in April

Expenditure

Income

Risks update Some key risks we face as a charity:

New 1) Building status as charity but not ‘place of worship’ impacts exemption from business rates Setup confusion during the purchase of building resulted in the application to be recognised as a place of worship to be unknowingly delayed. We have received business rates. The mitigation is underway with Registering as a place of worship and appealing recent bills through the Valuation Office Agency VOA. Aim to be resolved by end of 2023

New

2) Interest rate rises impacting mortgage Bank of England have raised interest rates 13 times since Dec 2021. Our repayment Interest rates has increase to 7% (initially 4%) effecting monthly loan repayments

3) We are reliant on the giving of a small number of givers whose circumstances may change Update: We have 52 regular givers to the general fund and 21 regular givers to pay off the building loan. We will continue to monitor.

Questions 4rioNI

2022 / 23 Value £ Change Vs. 2021
Overall income 89,166 +8%
Expenditure 93,567 +11%
- Utilities 5,673 +12%

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Bank balance (closing balance) Expenditure
80 75.315
Other
2021 2022 2023
70
63.837
Hospitality Expenses
60
Telephone, Broadband and…
48.807
50
43.238 Tech/Online Costs
37.598
40
31.215 Repairs and Maintenance
30
Mortgage Interest
20
Rates, Power and Insurance
10
Salary Costs
0
-
10,000 20,000 30,000 40,000 50,000 60,000 70,000
General Projects
2021 2022
Thousands
----- End of picture text -----

Thank you 4rioNI

General Accounts

Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 TOTAL 2022
General Gift Income
Gift Aid
Bank Interest
Other General Income		 5,269
-
-
6		 5,749
-
-
-		 5,095
-
19
-		 5,747
3,743
-
-		 5,805
-
-
-		 5,053
-
60
-		 6,278
3,562
-
5		 7,061
-
-
2,149		 5,862
-
121
41		 5,952
-
-
-		 5,322
-
-
-		 5,938
7,218
171
-		 69,129
14,524
371
2,201		 66,958
14,517
5
1,119
Total General Income 5,275 5,749 5,114 9,490 5,805 5,113 9,845 9,210 6,024 5,952 5,322 13,326 86,224 82,599
E Building/Loan Gift Income
Gift Aid
Bank Interest
Other Building/Loan Income		 1,752
-
-
-		 2,765
-
-
-		 1,555
-
-
-		 1,455
973
-
-		 1,680
-
-
-		 2,455
-
-
-		 1,725
879
-
-		 1,545
-
-
-		 1,655
-
-
-		 3,373
-
-
-		 2,065
-
-
-		 1,525
1,875
-
-		 23,550
3,727
-
-		 41,199
6,315
-
15,000
M Total Building/Loan Income 1,752 2,765 1,555 2,428 1,680 2,455 2,604 1,545 1,655 3,373 2,065 3,400 27,276 62,514
NCO Building Projects Gift Income
Gift Aid
Bank Interest
Other Building Projects Income		 -
-
-
-		 -
-
-
-		 -
-
-
-		 -
-
-
-		 -
-
-
-		 -
-
-
-		 -
-
-
-		 -
-
-
-		 -
-
-
-		 -
-
-
-		 -
-
-
-		 -
-
-
-		 -
-
-
-		 -
-
-
-
I T otal Building Projects Income - - - - - - - - - - - - - -
Events English Classes
Christmas Events
Silver Lining Events
Easter Events
Church BBQ
Other Events		 -
-
-
-
-
-		 -
-
-
-
-
740		 -
-
-
-
-
70		 -
-
-
-
609
10		 70
-
-
-
5
25		 -
-
-
-
-
172		 -
-
-
-
-
50		 299
-
-
-
-
280		 -
-
-
-
-
-		 -
-
-
-
-
70		 68
-
-
-
-
1,100		 -
-
-
-
-
520		 437
-
-
-
614
3,037		 -
-
-
-
-
-
Total Events Income - 740 70 619 100 172 50 579 - 70 1,168 520 4,087 -
TOTAL INCOME 7,027 9,254 6,739 12,536 7,585 7,740 12,498 11,334 7,679 9,395 8,555 17,247 117,588 145,113
Payroll Salary Costs
Pension Costs		 4,293
195		 4,525
207		 4,525
207		 4,525
207		 4,525
207		 4,525
207		 4,525
207		 4,525
207		 5,125
207		 4,525
207		 4,525
166		 4,525
248		 54,667
2,470		 51,805
3,209
) Total Payroll Expenditure 4,488 4,732 4,732 4,732 4,732 4,732 4,732 4,732 5,332 4,732 4,691 4,773 57,137 55,014
eneral Utilities Gas
Electricity
Water
Rates
Broadband		 299
352
0
-
60		 243
323
-
-
57		 175
332
-
-
57		 220
332
73
-
57		 188
342
54
-
57		 187
328
-
-
57		 182
345
26
-
57		 212
326
-
-
57		 392
332
-
-
28		 533
332
106
-
86		 345
332
-
-
28		 600
300
-
-
86		 3,576
3,977
259
-
688		 2,336
2,269
363
-
762
G Total Utilities Expenditure 712 623 564 682 641 573 610 595 752 1,056 705 986 8,500 5,729
URE ( Repairs & Maintenance Repairs/Maintenance
Small Capex
Cleaner
Insurance		 -
298
120
-		 -
89
150
-		 -
274
120
-		 -
-
120
-		 -
324
150
-		 -
432
113
-		 -
478
150
-		 -
106
120
-		 -
285
120
-		 -
37
150
5,458		 -
99
120
-		 -
382
120
-		 -
2,805
1,553
5,458		 -
5,495
1,320
4,891
T Total Repair s & Maintenance Expenditure 418 239 394 120 474 545 628 226 405 5,645 219 502 9,817 11,706
DI Dues and Subscriptions Evangelical Alliance
Quickbooks		 -
-		 30
-		 -
-		 -
-		 30
-		 -
-		 -
-		 30
-		 -
-		 -
-		 30
-		 -
-		 120
-		 120
-
N Total Dues a nd Subscriptions Expenditure - 30 - - 30 - - 30 - - 30 - 120 120
PE Finance Costs Bank Charges
Mortgage Interest		 8
409		 8
376		 8
380		 8
366		 5
376		 5
373		 5
404		 5
431		 5
455		 5
474		 5
495		 5
459		 72
4,998		 108
4,787
EX Tot al Finance Costs Expenditure 417 384 388 374 381 378 409 436 460 479 500 464 5,070 4,895
General Gifts to speakers
Other general expenses		 -
13		 -
-		 100
-		 -
-		 -
-		 80
-		 -
-		 100
371		 -
-		 80
-		 -
-		 -
-		 360
383		 220
335
Total Cha ritable Activities Expenditure 13 - 100 - - 80 - 471 - 80 - - 743 555
TOTAL G ENERAL EXPENDITURE 6,048 6,008 6,179 5,908 6,258 6,308 6,378 6,490 6,948 11,992 6,145 6,725 81,387 78,020
Events English Classes
Christmas Events
Silver Lining Events
Easter Events
Church BBQ
Other Events		 -
-
-
215
75
205		 -
-
-
-
-
61		 -
-
-
-
74
159		 -
-
-
-
247
180		 200
-
-
-
-
17		 -
-
-
-
-
4		 -
-
-
-
-
275		 474
-
-
-
-
75		 -
149
171
-
-
-		 -
101
-
-
-
-		 143
-
-
-
-
-		 -
-
-
-
220
-		 817
250
171
215
616
975		 177
-
132
-
-
543
s) Total Events Expenditure 495 61 232 427 217 4 275 549 320 101 143 220 3,044 852
E (Team Resources/Promotional Postage
Stationery
Literature
Flyers
Banners
Other Resources/Promotional		 -
-
150
-
-
-		 -
-
-
-
-
-		 -
112
-
-
-
-		 -
19
113
-
-
-		 -
24
-
-
-
-		 -
-
-
-
-
-		 -
209
-
-
-
-		 -
-
-
-
-
-		 -
96
-
-
-
-		 -
-
-
-
-
-		 -
137
-
-
-
-		 -
21
-
-
-
-		 -
619
263
-
-
-		 66
611
30
-
-
-
R Total Resour ces/Promotional Expenditure 150 - 112 132 24 - 209 - 96 - 137 21 882 707
NDITU Hospitality Kitchen Edible Supplies
Cleaning Supplies
Crockery
Small Equipment
Other Hospitality		 -
-
-
-
-		 -
-
-
-
11		 27
-
-
-
89		 -
-
-
-
13		 36
-
-
-
66		 41
-
-
-
53		 -
-
-
-
164		 -
-
-
-
206		 -
-
-
-
-		 -
-
-
-
67		 91
-
-
-
174		 95
-
-
-
343		 290
-
-
-
1,186		 692
-
-
-
-
E Total Hospitality Expenditure - 11 115 13 102 94 164 206 - 67 265 438 1,476 692
P Kids/Youth Kids/Youth - - - - - - 78 - - 73 101 187 438 -
EX Total Kids/Youth Expenditure - - - - - - 78 - - 73 101 187 438 -
Tech Web Page
Christian Copyright
Computer Software & Licenses
Equipment
Other Tech		 61
-
-
178
-		 61
-
-
95
-		 118
-
-
-
-		 61
-
-
-
-		 61
955
-
-
-		 61
-
-
1,125
-		 61
-
-
-
-		 61
-
-
-
-		 61
-
-
-
-		 61
-
-
-
-		 61
-
358
817
-		 61
-
-
-
-		 787
955
358
2,215
-		 713
898
42
4,241
-
Total Tech Expenditure 239 156 118 61 1,016 1,186 61 61 61 61 1,236 61 4,316 5,894
TOT AL TEAM EXPENDITURE 884 228 578 633 1,359 1,284 786 816 477 302 1,882 927 10,155 8,144
TOTAL SURPLUS/(DEFICIT) 95 3,018 (18) 5,995 (32) 148 5,334 4,028 254 (2,900) 527 9,595 26,046 58,949
Depreciation (1,567) (1,601) (1,645) (1,645) (1,645) (1,645) (1,645) (1,672) (1,672) (1,672) (1,672) (1,672) (19,751) -
Accounting Surplus/(Deficit) (1,472) 1,418 (1,662) 4,351 (1,677) (1,496) 3,689 2,356 (1,418) (4,572) (1,145) 7,923 6,294 58,949

Projects Accounts

Ganeshpur
Church		 Good
Shepherd
School		 Hope of
Glory
Foundation		 Help Fund Naujavan PFE Appeals Hazel
Project		 Other Total
Balance B/Fwd 6,430
6,191
381
2,441
27,460
-
(125)
10,940
462		 54,179
Gift Income 2,104 363 190 3,068 6,202 - 6,503 13,140 1,181 32,750
Gift Aid 136 37 48 574 1,064 - 1,137 5 42 3,042
Bank Interest 44 45 4 18 151 - - - 0 264
Total Income 2,284 445 242 3,660 7,418 - 7,640 13,145 1,222 36,056
General (1,000) - (100) (2,627) (4,200) - (8,249) (2,135) (431) (18,742)
Bank Charges (8) (8) (8) (8) (48) - - - - (80)
Total Expenditure (1,008) (8) (108) (2,635) (4,248) - (8,249) (2,135) (431) (18,822)
Total Surplus/(Deficit) 1,276 437 134 1,024 3,170 - (609) 11,010 791 17,234
Balance C/Fwd 7,706 6,627 515 3,466 30,629 - (734) 21,950 1,253 71,412

Balance Sheet

Mar-23 Mar-22 Change
Fixed Assets Buildings & Capex Buildings
Fixtures & Fittings
Equipment		 883,804
6,816
3,767		 902,609
-
-		 (18,804)
6,816
3,767
Total Buildings & Capex 894,386 902,609 (8,222)
Total Fixed Assets 894,386 902,609 (8,222)
ASSETS Current Assets Cash & Bank Current A/C - General
Current A/C - Projects
Deposit A/C - General
Deposit A/C - Projects
Cash - English Classes
Cash - BFIT		 11,769
17,480
52,069
36,698
464
40		 43,585
11,142
31,730
26,456
844
-		 (31,816)
6,338
20,339
10,242
(380)
40
Total Cash & Bank 118,521 113,758 4,763
Debtors Gift Aid Receivable - General
Gift Aid Receivable - Projects
Small Loans		 9,094
1,393
650		 6,624
1,320
-		 2,470
73
650
Total Debtors 11,137
 7,944 3,193
Total Current Assets 129,658 121,702 7,956
Total Assets 1,024,044 1,024,310 (266)
Trade Creditors Accounts Payable - - -
Total Trade Creditors -
 - -
Current Liabilities Other Current Liabilities Payroll Liabilities (1,700) (1,731) 32
Total Other Current Liabilities (1,700) (1,731) 32
Liabilities Total Current Liabilities (1,700) (1,731) 32
Non-Current
 Mortgage Stewardship Loan
Other Loan		 (98,504)
(10,125)		 (120,767)
(11,625)		 22,263
1,500
Liabilities Total Mortgage (108,629) (132,392) 23,763
Total Non-Current Liabilities (108,629) (132,392) 23,763
Total Liabilities (110,328) (134,123) 23,794
Net Assets/(Liabilities) 913,716 890,188 23,528
Brought Forward General & Building Fund Reserves
Project Reserves
Retained Earnings		 792,320
32,260
65,608		 792,320
32,260
-		 -
-
65,608
Capital and Reserves Total Brought Forward 890,188
 824,580 65,608
Reserves Current Year Surplus/(Deficit) for SLIC
Surplus/(Deficit)for Projects		 6,294
17,234		 58,949
6,658		 (52,655)
10,575
Total Current Year 23,528 65,608 (42,079)
Total Reserves 913,716 890,188 23,528
Total Capital and Reserves 913,716 890,188 23,528