In accordance with the Trustee's policy of retaining a reserve fund of 1 years
General Purpose fund expenditure our Building Society account remains untouched
at £88,448 increased by the annual interest of £1366 over the 2022 reserve.
The Church remains 75 in a satisfactory financial position with reasonable reserves
and an acceptable working balance account. That said we must not be
complacent. As stated above the giving to our India mission has risen conslderably
and masks the reduction in Hall income resulting from Covid l(Kkdowns ,and the
General purpose fund l ie the day to day running costs) continues to run at a loss.
Overall, the Church is still runnlng at a loss and 2023 saw a large rise 7n the gap
between income and expendSture. The start of 2023 has seen significant
expenditure on the India mlsslon with a trtp by 3 of our fellowship to Indfa in
January. Members will also be aware that the Church is also subject to the cost of
living crisis facing the nation. Inflatlon is affecting our costs as are large energy
price rises. Staff pay rises, penslon costs and rtses fn National Insurance costs are
also Impacting on our finances. The leadership also wishes to consider certaln
improvements to the Church's facilities. It is dlfflcult to predlct how Church
flnances will fare in 2024. Nevertheless, wlth God's grace and providence we pray
that our financial position will improve to a point where we can look forward to
our income exceeding expenditure and the Church's ffnancial position becoming
sustainable for the long term. We must pray that God witl guide us and continue to
provide resources to tmjlld hTS Church In this communlty to his Glory.
Treasurer

Section B
Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32,
Independent examination of chanty accounts". directions and guidance for
examiners).
Give here brief delalls of
any items that the
examiner wlshes to
disclose.
IER
October 2018