| SectionE | Financial review |
|---|---|
| Brief statementofthe charity's policyon reserves |
It isthe charity'spolicytoaimtohold fundstocover approximately3 months'outgoingswhichequatestoc.f27.000intotalln addition, we holdfundsinvarious designated and restrictedfunds (seeNotes to the |
| Accounts)andarepleasedtobe abletoassistthoseinour congregation | |
| and beyondthrough our BenevolenceFunds. | |
| Details ofanyfundsmaterially indeficit |
None |
| Further financia! review details | (Optionalinformation) |
|---|---|
| Youmay choosetoinclude additional information,where relevantabout: |
The charity'sincome is primarily made upofofferings by membersand visitorstosupportthecharity'swork andrelatedtaxrefunds claimed throughGiftAid. lnaddition,the charityhastakenup collectionsfor |
| othe charity'sprincipal sourcesoffunds(including |
variouscharitieswhichhave been supplemented fromthegeneral income a minimumof1Oo/oofthepreviousyear's collectionincome. |
| any fundraising); | Theprincipal costs relate tothepaymentofthePastors,therentofthe |
| ohowexpenditurehas | churchpremises andtherent of ahouse.Expenditure alsotookplacefor |
| supportedthekey objectives | variousresources, purchasedtosupport the work. |
| ofthecharity; | |
| oinvestment policyand objectives including any ethicalinvestment policy adopted. |
Thefixedcosts of regenerationarehigh (staff costs, rentalsand committed charitablegiving)butarebeingcoveredmonth-by-monthby the collectionincome andassociatedGiftAidreceiptswitha surplus, freeingupthedonation and other incometocoverdiscretionarybudgeted expenditure. |
| ignedonbehalfofthecharity' | strustees | |
|---|---|---|
| Signature(s) | Signed | Srgned |
| Fullname(s) | Benjamin Spearman | RobertlanScott |
| Position(egSecretary,Ghair, etc) |
Chair | Treasurer |
| Date | 29 October 2023 |
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| Unrestrictedlunds | ||||||
|---|---|---|---|---|---|---|
| GeneralDesignated Funds Funds |
Restricted Funds |
Total 2023 |
Total 2022 |
|||
| cc | t | I | ||||
| Employment costs | Note4 | 67 889 | 67,889 | 63,495 | ||
| Plemises rentals | 35 720 | 35,72A | s3,285 | |||
| Mission and Outreach | 3,542 | 3,542 | 2,250 | |||
| Residential and Retreats | 7,621 | 7,621 | 7,809 | |||
| Resources | 3,694 | 3,694 | 6,436 | |||
| ConferencesandTraining | 1.'108 | 1,108 | 1,234 | |||
| Other expenditure | 6.985 | 4,678 | 't1,663 | 10,950 | ||
| Governance Costs | 1 170 | 1,170 | ||||
| Administration lnsuaance |
761 890 129381 |
A | 4,678 | 761 890 134.059 |
810 876 129.320 |
|
| Grants paidinrelation to charitable activities undertakenbyothers | ||||||
| Organisations | ||||||
| Lugisisa lndlela Village(LiV) | 2,219 | 2669 | ||||
| DFN UK | 1,800 | 1,800 | 3,329 | |||
| ArUessTheatre Trust | 4,165 | 4.165 | 6,088 | |||
| Graceworks Elaml\4inistries |
2,158 2,453 |
2,453 | 2,194 0 |
|||
| Teen Challenge UK Beauty from Ashes |
1,11 0 0 |
1,1'10 0 |
0 1,000 |
|||
| Charity:Water Kerygma180 |
0 0 |
0 0 |
1,000 1,000 |
|||
| Release lnternational lnlernational Justice[,,1inistryUK Barnabas Fundrefood.give lndrvrdJa,sand organisations< €1.00C |
0 0 0 |
0 0 0 |
1,000 1,365 2,693 |
| Designated Funds | |
|---|---|
| Asset ReplacementFund | Thisis asinking fund to enable the church to replace broken or obsolete asseis, particularlylTand sound equipment |
| VisionFund(designated) | This relatestotunds (e5,000) which were set aside fromthegeneral fundin2017/8 towards the eventual purchase ofa |
| building or buildingaplace of our own, (including church 'planting") which may involve land purchase or upgrading abuitding. | |
| There is arestricted VisionFund10which church members have made donations specifically for thispurposeAt aBoard | |
| lvleetingduring the year, the trustees agreed that,aswith normal general fund donations,1o%would be given to Christian | |
| charities; this was announced to the church and donors were given the option to opt out,1OO%oftheir donations remarningrn | |
| the reslricted VisionFund. | |
| Special BenevolenceFund -Covid19(designated) | Thiswasestablishedbythetransferof15,000 fromthegeneralfundastheCovidlgpandemictookhold Asthethreatof |
| Covid receded,thetrustees decided to redesignatethefund asDesignated BenevolenceFund to enable the charity to meet | |
| needs during the cost of living crisis | |
| Special Benevol€nceFund | See above |
| Restricted Funds | |
| BenevolenceFund | A fund for the reliefofpoverty and distressinthelomlcommunity. The pastors may useit attheir discretlon to glve emergency fnancialsupporl to individuals andfamilieswhether church members ofnot. |
| Special BenevolenceFund -Covid19 | This fund was set upasthe pandemic look hold so that there wouldbefundsatthe disposalofthe church to support primarily |
| those who wereinfinancialdifilcultyas aresultoffurlough orredundancyVery generous donations werereeivedFrom the | |
| outset donors agreed that unutilised iunds shouldbekansferedtotherestricted VisionFund when the pandemic was over. | |
| As the pandemic hasrecededitwas repiacedbythe cost oflivng crisls the Trustees cons deredthattwould be more | |
| sensible for the remaining balance to betransferTedtothe'genera'restricted Benevolence Fund (above) and major individual | |
| donors were approached and agreed to the changewhch gives added flexibility | |
| VisionFund(restricted) | See Designated Vision Fundabove.This fund receives payments donated specifcally for the stated purpose |
| MissionFund(Restricted) | Afund establishedbyappeal to enable assistance to be given to people with llmited resourcestoworkinthe mission field |
| Charities Colleetion Fund | Receives collections for specific Christian charjties and disburses them, along with the monthly "general allocation" |