Charity Registrdtion No. 1185226 IBEX- CHURCHES WORKING WITH THE ECONOMY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 IBEX- CHURCHES WORKING WITH THE ECONOMY LEGAL AND ADMINISTRATIVE INFORMATION Truste•s Mrs Val Potter Mr Chris Goodhe3d Mr David Wrl8htOA Charlty number 1185226 Prlndpal •ddr•ss 34 Chalvln8ton Road Chandlerfs Ford Eastlelgh S053 30X IBEX- CHURCHES WORKING WITH THE ECONOMY CONTENTS Trustees, report Statement of trustee5' re5ponslbllitles statement of flnanclal actlvltles 8alance Sheet Notes to the accounts 7-10 IBEX- CHURCHES WORKING WITH THE ECONOMY TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and financial statements for the year ended 310ecember 2023. The accounts have been prepared in accordance wlth the accountlng policles set out In note I to the accounts and comply with the charity's governing document, the Charities Act 2011 and 'Accounting and Reporting by Charities" the Statement of fiecommended Practice for charities applying FRSIO2. Structure. governance and managament The charity was registered as a CIO (Charitable Incorporated Or8ani5ationl at the Charity Commlssion on 9 September 2019. Its predecessor charity IIBEX. charity number 2735511 ceased on 31 December 2019 and transferred all activities, assets and liabilities with effect from l Januaiy 2020. The Trustees who Served durlng the year were.. Mrs Val Potter Mr Chrls Goodhead Mr David Wrlghton Oblectlves and artl¥StS•s The object of the CIO Is to advance the Christian religion In Hampshlre and Oor5et through organlsatlons dealing wlth the trainin8 or employment of people in their daily work and bv.. IncreasSng the understanding of the world of work in the Churches. Encoura8ln8 churches to be community minded, interested and Involved In the econL)mlc problems and Issues in thelr nel8hbourhoods. Chaplaincy, Its development and support. Representing the Church where possible with other agencies - the voluntary sector, local authorltles and others who have a heart for the econumlc wellbelng of thelr communlty and all Its members. Revlew of the year Reporting on 2023, It was yet another year of chan8e5, of development, of evolution, of strlvlng to make sure that 18EX was needed by the denomlnatlons locally whlch fund u5.. and those whlch don't- we are by definition ecumenical! Church In the Cornmunlty Post 2022 had seen the end of the allotted period of the URC 5peclal Category Ministry post. Cllff Bembridge and Tim Clarke had each served S years, providin8 enormously useful, challenging work. IBEX wa5 eager to further develop the concept and role Df the Church in the Community Officer. Durin8 2023 we considered how to focus and develop the work further. After consultation with our funding denominations we developed a job description and person specificalion and advertlsed through relevant channels. Esther Ridsdales's appointment in january 2024 falls outside this reporting period, but she has hit the ground running. already developin8 very good relationships with colleagues from our funding Churche5, and with everyone else she encounters. Perhaps most importantly, She fits in very well wlth our two other officers, Lisa and Hannah- Chaplaincy and Medla, IBEX- CHURCHES WORKING WITH THE ECONOMY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Staffing Through 2023 we had reduced staffin8 resources. Lisa Thomas had a sabbatlcal at the end of 2022 to focus on her ordinatSon tralning, begun in autumn 2022. She returned in January 2023 but at only one day per week, but achieved much In that time. Hannah Clark was due to be ort maternity leave in 2024 - Myles was born in February, but she p￿pared for it in 2023 by training others, mainly L15a In what was needed. She has also continued making useful contrlbutlons anyway despite bein8 on leave. We are lucky to have two- now three- such committed and enthusiastic peoplel Ch•plalncv Work has continued networking chaplaincie5, developlng and encouraging others. Lisa is also relating to a wlder range of Chaplaincy entities - the Dlocesan Chaplaincy presence for Winchester, and meetlng and discoverin8 common ground wlth rural chaplains. Thls Is alon851de 5UPPOrting and helping develop number of local chaplaincies Dorchester, Winchester, Basin8Stoke, p055ibllltie5 at Lymington. Llsa has chosen as her trainin8 placement the Wlnchester Chaplaincy Law Courts Team a fascinatlng place to operate. she has become a trustee of the national chaplalncy network, WCM, a useful link. Lisa and Hannah together developed the notion of the Chaplaincy Forum, which was launched in late 2022 but put into use in 2023. Communlcatlon and Soclal M•dla Hannah contlnued to develop our social media presence and webslte. Durlng 2023 we achleved recognition from Google as a Charity, whSch brlngs free fundSng for uur website domaln, emai15 and other services, such as maps and advertlslng. This feeds in to the process of revlewlng what we actually want to achieve with the website. The Chaplaincy Forum already mentioned has struggled to take off, so needs consideratlon of whethÈr to relaunch it or to abandon St - Hannah also made sure that Lisa was enabled to input materlal on Soclal Medla and complle the newsletter In preparatlon for her maternlty lèave in 2024. We face the future with confidencel Three extremely capable Officer5 dolng enormously well In thelr Indlvldual role5, but a150 working very well together, as the three areas of work do of course overlap. But we are not cornplacent - reviewing things that don't work, developing things thai will work. seeking new opportunltles, contatts and allie5 while also making sure that we are doin8 what our oldest allies want arbd need, talking to them about how we actually develop. We are now really looklng forward to reporting on the year 20241 Flnanclal revlew and reserves pollcy Thls year the charity ha5 made a Surplus of £11,89812022.. £6,749) which resulted in unrestricted funds to carry forward of £38,76312022'. £26,865). We acknowled8e with grateful thanks the ongoing support of the Southampton District of the Methodist Church and the Wessex Synod of the United Reformed Church. It is the policy of the charity to maintain unrestricted fund5 at a level which will enable the charity to continue into the foreseeable future. Our target reseryes level is the èquivalent of 6-12 months, Worth of expenditure, and this year end reserves are well in excess of this range. The trustees are sat15fied with this position and it has enabled them to appoint a new Church in the Communlty Officer who started in January 2024. IBEX- CHURCHES WORKING WITH THE ECONOMY TRUSfEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees, ￿pOrt was approved by the board of trustee5 on 8th Au8USt 2024. Mr David Wrlghton IBEX- CHURCHES WORKING WITH THE ECONOMY STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees are responsible for p￿parIng the Trustees, Report and the financi31 stotements Sn accordance wlth applicable law and Unlted Kingdom Accounting Stsndards (United Kin8dom Generally Accepted Accounting Practice). The law appllcable to charilles In England and Wales requires the trustees to prepare financlal statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incomln8 resources and application of resources of the charity for that year. In preparing these flnancial statements, the trustees are required to.. select sultable accountlng policies and then apply them consistently.. - observe the methods and prlnclples In the Charltles SORP; make judgements and estimate5 that are reasonable and prudent,. 5tste whether appllcable accountin8 Standards have been followed, sublect to any material departures disc105ed and explained In the financlal 5tatements,' and prepare the financial statements on the going concern bè515 unless It 15 Inapproprlate to p￿sume that the charlty wlll contlnue In operatlon. The trustees are responsible for keepin8 sufficient accountlng records that d15close wlth ￿asonable accuracv ai any tlme the financlal position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Re8ulatlons 2008 and the provlslons of the trust deed. They are also responsible for safeguardlng the a5set5 of the charlty and hence for taklng reasonable Steps for the prevention and detectlon of fraud and other IrregulaTltie5. IBEX- CHURCHES WORKING WITH THE ECONOMY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Income from: Donations and legacles 19,788 19,858 Ex endlture o Charitable actlvltles 7,890 13,109 Net Income for th¢ ye•rl Net m¥ement In funds 11,898 6.749 Fund balances at l January 2023 26,865 20,116 Fund balanc•s at 31 December 2023 38,763 26,865 The statement of financlal activltles Includes all galns and105ses recognised In the year. All income and expenditure derlves from contlnulng actlvltles and 55 unrestrlcted Sn both the current and comparative year. IBEX- CHURCHES WORKING WITH THE ECONOMY BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Current assets Debtors Cash at bank and in hand 12,083 26,752 3,918 22,947 38,835 26,865 Credltors.. amounts falllng due wlthSn one year 1721 Net current assets 38,763 26,865 Income fvnds Unrestricted funds 38,763 26,865 38,763 26,86S The accounts were appro d by the TTU5tees on 8 Au8USt 2024 Mr Chris TIu5t•• oodhead Company Re815tratlon No. 1185226 IBEX- CHURCHES WORKING WITH THE ECONOMY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Company Inlormatlon IBEX- Churche5 Working With The Economy Is a CIO, registered with the Charity Cornmi55ion In England and Wales. 1.1 Accountln8 conventlon The financial statements have been prepared in accordance with the charity'518overnin8 documentl, the Charitie5 Act 2011, FRS 102 "The Financial Reportlng Standard appllcable In the UK and Republic of Ireland" I"FRS 102.1 and the Charities SORP Accountin8 and RepartSn8 by ChaTltie5'. Statement of Recommended Practice applScable to charltles preparlng thelr accounts In accordance wlth the Financlal Reportln8 Standard applicable In the UK and Republlc of Ireland IFRS 1021" leffectlve I january 20191. The charity is a Public Benefit Entity as defined by FRS 102. The flnanclal Statements are prepared In sterllng, whlch 15 the fvnctional Currency of the charSty. Monetary amounts in these financial statements are rounded to the nearest E. The accounts have been prepared on the historical cost cc*nvention. The prlncSpal accountlng policies adopted ale set out below. 1.2 Galni¢on