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|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|
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|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.|
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|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"|