## FINANCIAL REPORT 2022 – 2023 I will start with the headlines we hear on the news daily. Cost of living crisis and Energy Costs, they have both influenced the finances of the church this last financial year. Good news or bad news? Let’s start with the less positive facts so we can end on a high. Less income and higher expenses, with lower attendance, decreasing number of members and most people having less disposable income means offerings and donations are down and the cost of running the church is higher. Energy costs have gone up significantly as we all know. In the news we hear many churches and charities have struggled to make ends meet. Luckily, we are not in that position and we still have been able to finish the financial year with a surplus. We received a one off payment in November of £170.23 from the government to offset the cost of electricity costs, but that only covered the cost of electricity for that month we still have to find extra funds for gas usage and electricity over the winter months. The income from the Manse and hall hire is currently enabling the church serve the community as it has done for many years. With the creation of the new cost centre, hall hire, we can now more easily see how much income we get and allocate costs if we need to. We have had a change of tenants in the Manse and with a water leak earlier in the spring there has been some repair costs recently which will come out of the current financial year and reduce the income for a while, but we were able to make a claim on the insurance for part of the costs. We have finished paying legal fees for the transfer to a registered charity. The gift aid returns from the government still remain on a level with previous years. We had more money in the bank at the end of March compared to the previous financial year and although the profit is down significantly compared to last year, we ended the financial year with a surplus of £2,617 which under the circumstances I think is not bad at all. Pia Bennett May 31[st] 2023 SOWHBOURNE FREE CHURCH FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 soiJrHBOURNE FREE CHURCH CHURCH INFORMATION FOR THE YEAR ENDED 31 MARCH 2023 CHARITY NUMBER 1193628 START OF FINANCIAL YEAR l April 2022 END OF FINANCIAL YEAR 31 MARCH 2023 PASTOR Mr Paul Cox SECRETARY Dr M Arkle TREASURER Vacant MANAGING TRUSTEES Dr M Arkle AT 31 MARCH 2023 Mrs W Ranft Mr R Rogers Mrs P Bennett INDEPENDENT EXAMINER Vacant BANKERS Lloyds Bank pk 4 West street Havant Harnpshire P09 IPE SOUTHBOUANE FREE CHURCH BAiANCE SHE￿￿£ AT31 MARCH 2023 2023 2022 Asstrs CASH FUNDS.. Uoyds Bank Current Account 58.679 55,945 Uoyd5 8u51ness Attount 117 58,679 56,062 FUNDS Buildin8 Fund 5,847 1.105 Missionary Fund 1,194 Pastorfs Fund 34,978 Hall Hir• 2,442 1,451 Church Fund 1.481 829 Manse Fund 13,977 12.388 General Reserves 4.000 58.679 55,945 Balance in Uoyds Bus Acct 117 TOTAL FUNDS HELD 58.679 56,OS2 FINANCIAL STATEMENT 31 MARCH 2023 TOTAL INCOME FOR THEYEAR 18,021 20.308 {.117> TOTAL EXPENDITURE FOR THEYEAR 15.287 11.989 TOTAL IDEFICM SURPLUS FOR THE YEAR 2,617 8.319 OPENING BALANCE I APRIL2022 56.062 47.743 CLOSING BALANCE 31 MARCH 2023 58,679 56.062 SOUTHBOURNE FREE CHURCH CHURCH FUND INCOME AND EXPENDITURE ACCOU￿[ FOR THEYEAR ENDED 31 MARCH 2023 INCOME- IREsfRICTEDI 2023 2022 Offerings 4.055 6,346 Hire of Hall sèe new tost centre 765 Donation5 140 Grft Aid-Tax Refunds 1.182 Other Income Insurance Claim TOTAL INCOME: 5,239 8,319 EXPENDITURE Preacherfs Expenses 256 285 Gas Electricity Sewage Charyes 1,432 955 Repairs and Maintenance 1,625 1,302 Affiliatkjn F•• 340 250 Cleanlng Expenses 780 633 Bulldin8 and Contents Insurance 1,217 1,097 Sundries 1,442 4,075 CIO Legal Fees 495 TOTAL EXPENDITURE: 7.587 10,406 SURPLUSIDEFICIT) FOR THE YEAR 12.3481 12,0871 ACCUMULATEO FUND I"APRIL2022 3,829 ' 2.916 ACCUMULATED FUND 31" MARCH 2023 1.481 329 Trdnsfer agreed Sol￿H8ouRNE FREE CHURCH CHURCH BUILDING FUND INCOMEAND EXPENDITUREACCOUNTFOR THE YEAR ENDED 31 MARCH 2023 INCOME- IRESTrICTEDI 2023 2022 TOTAL INCOME 1,204 69S EXPENDrruRE TOTAL EXPENOITURE 1,462 SURPLUS IDEFICITI FOR THE YEAR 12581 695 ACCUMUIATED FUND I" APRIL 2022 6,105 410 ACCVMU￿TED FUND 31" MARCH 2023 S.847 1,105 Transfer a8reed • SOUTHBOURNE FREE CHURCH MANSE FUND INCOME AND EXPEND￿uRE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 INCOME- (UNRESTRICTED 2023 2022 TOTAL INCOME 11.%7 11,550 EXPEND￿uRE Fees and Maintenance 3,378 2,796 SURPLUS FOR THE YEAR 8.589 8,754 ACCUMULATED FUND I"APRIL2022 3,634 ACCUMULATED FUND 31sf MARCH 2023 13.977 12,388 ' Transfer agreed • SOUTHBOURNE FREE CHURCH CHURCH MISSIONARY FUND INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 INCOME-IRESTRICTEDI 2023 2022 INCOME 98 TOTAL INCOME 98 EXPENDITURE TOTAL EXPENDITURE SURPLUSIOEFicin FOR THE YEAR ACCUMUL4TEO FUND 1ST APRIL2021 1.194 1,194 5T ACCUMULATED FUND 31 MARCH 2022 892 1.194 SOUTHBOURNE FREE CHURCH HALLHIRE FUND INCOME AND EXpEND￿uRE ACCOUNT FOR THE YEAR ENDED 31 WRCH 2023 INCOME 2023 2022 INCOME IRESTRicfED) Hlre Fees 1,991 TOTAL INCOME 1.991 EXPENDITURE Equipment Sundries TOTAL EXPENDITURE {DEFICITISURPLUS FOR THE YEAR ACCUMULATEO FUND I" APRIL2022 451 ACCUMULATED FUNO 31" MARCH 2023 2,442 451 soiJrH8OURNE FREE CHURCH CHURCH PASTOR'S FUND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 INCOME- IRESfRICTEDI 2023 2022 TOTAL INCOME TOTAL EXPENDITURE s￿38 5URPLUS/DEFICIT FOR ThE YEAR (4,9381 840 ACCUMULATED FUND 1ST APRIL 2022 34,978 34,138 ST ACCUMULATED FUND 31 MARCPI 2023 34,978 SOUTHBOURNE FREE CHURCH Charity Law required the church Trustees to prepare Fina￿la1 Statements for each Financial Year that comply with the regulations set ¢￿t in the Ctharities Act 2011 The Fina￿la1 Statements shown on the foll￿1n& Page$ 4 to 10 were approve by the Trustees on and signed on thèir b•half bv: . Dr M Arkle {Church Secretary & Chairl