FINANCIAL REPORT 2024 – 2025
You have all received the accounts a few weeks ago to be approved at this AGM.
As I am sure you have noticed, we have a deficit this year of £7,176. This is greater than we have had before and we continue to see the increase in cost on every level in running the church. As I have said in previous years, less income and higher expenses, with lower attendance, decreasing number of members and most people having less disposable income, it means offerings and donations are down and the cost of running the church is higher. We see this in the Church Fund Account where income is £4,390 and expenditure £11,668 which leaves a loss in that account by £7,278. Energy costs and all utility costs continues to be high. We still have to find extra funds for gas usage and electricity over the winter months and the Trustees have locked in rates which will come into effect during this financial year which should help us lowering energy costs.
The income from the Manse this year was £10,123 and Hall Hire had an income of 4,502, this is still enabling the church to serve the community as it has done for many years. With that in mind, the trustees decided to make some transfers from Hall Hire to Pastor’s Fund and from the Manse Fund to the Church Fund
The gift aid returns from the government are on par with last year. We have seen a slight increase in regular attendance to the Sunday services, but offerings and donations are more or less still on the same level.
Looking forward in this financial year the Trustees have already made some positive steps in
church life and the finances. We have decided to transfer £15,000 from the Building Fund to
the business account which will give a higher rate interest than keeping the money in the
current account.
As we approach our 170[th] anniversary, Southbourne Free Church’s still has a valid place in
our community and we continue to pray for God’s guidance and leadership in increasing our membership and finances.
Pia Bennett May 31[st] 2025
SOUTHBOURNE FREE CHURCH FIP4ANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
SOUTHBOURNE FREE CHURCH Charity Law requlred the Church Trustees to prepare Financial Ststements for each Financial Year that comply with the regulations set out in the Charities Art 2011 The Financial Ststements sh¢)wn on the following Pages 4 to 10 were approve by the Trustees on and s18ned on thelr behatf by: . Dr M Arkle (Church Secretary & Chalrl
SOLrrHBOURNE FREE CHURCH CHURCH INFORTIoN FOR THE YEAR ENDED 31 MARCH 2025 CHARITY NUMBER 1193628 STARTOF FINANCIAL YEAR l Aprll 2024 END OF FINANCIAL YEAR 31 March 2025 PASTOR Mr Paul Cox SEcRARy Dr M Arkle TREASURER Vacant MANAGING TRUSTEES Dr M Arkle AT 31 MARCH 2025 Mrsw Ranft Mrs P 8ennett INDEPENOENT EYAMINER Vacant BANKERS Uoyds Bank pk 4 West Street H•vant Hèmpshire P09 IPE
SOUTHBOURNE FREE CHURCH BALANCE SHEEf AS AT 31 MARCH 2025 2025 2024 ASSETS CASH FUNDS: Lloyds Bank Current Account 51.081 58.257 Lloyd5 Busine$5 Account $1,081 58.257 FUNDS Bullding Fund 17,059 8,565 Misslonary Fund 492 892 Pa5torf5 Fund 6.467 20.947 Hall Hlre 5.756 6.254 Church Fund -1,781 497 Manse Fund 19,088 17,102 General Reserves 51,081 58,257 Balance in Uoyds Bus Acct TOTAL FUNDS HELD 51.081 58.257 FINANCIAL STATEMENT 31 MARCH 2025 TOTAL INCOME FOR THE YEAR 20,362 21,684 INTERNAL TRANSFER TO SAVINGS 20,( TOTAL EXPENDITURE FOR THE YEAR 27,538 22,106 INTERNAL TRANSFER FROM SAVINGS 20.tXN) TOTAL IDEFICIT) SURPLUS FOR THE YEAR {7.1761 14221 OPENING &ALANCE I APRIL2024 58,257 58.679 CLOSING BALANCE 31 MARCH 2025 51.081 58.257
SOLIThBOURNE FREE CHURCPI CHURCH FUND INCOME AND EXPENDrtURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 INCOME- (REsTRIED) 2025 2024 Offerings 3.485 3.032 Donations 125 Gift Aid- Tax Refunds 905 740 Other Income 107 Insurance Claim TOTAL INCOME: 4.390 EXPENDITURE Pre•¢herfs Expenses 565 Gas Electricity Sewage Charges 3,807 3,662 Repalrs and M•intenance 2.438 1.030 Affiliation Fee 340 Cleaning Expenses 795 Buildlng and Contents Insurance 2.025 1.837 Sundrles 1.299 1,975 CIO Legal Fees Gardening 41x1 TOTAL ExPENDvRE. 11,668 10.188 SURPLUSIDEFICITI FOR THE Y£4R {7.2781 {6.1841 5T ACCUMULATED FUND I APRIL2024 5.497 6.681. 5T ACCUMULATED FUND 31 MARCH 2025 -1.782 497 Transfef agreed '
SOUTH80URNE FREE CHURCH CHURCH BUILOING FUND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 INCOME- IRESTRicfEDI 2025 2024 INCOME 494 718 TOTAL INCOME 494 718 INTERNAL TRANSFER FROM SAVINGS iO.IXK) ExPENDURE TOTALEXPENOITURE INTERNAL TRANSFER TO SAV114GS io,c*J) SURPLUS IDEFICITI FOR THE YEAR 494 718 ST ACCUMULATED FUND I APRIL 2024 16,565 7.847 ST ACCUMULATED FUND 31 MARCH 2025 17,059 8.565 ' Transfer agreed '
soiJrHBOURNE FREE CHURCH MANSE FUND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 INCOME-IUNRESTRICTEDI 2025 2024 TOTAL INCOME 10.302 12.034 EXPENDITURE Fees and Maintenance 316 1,910 SURPLUS FOR THE YEAR 9,986 10,124 ST ACCUMULATED FUND I APRIL2024 9.102 6,978 ST ACCUMULATED FUND 31 MARCH 2025 19,088• 17.102 ' Transfer agreed *
SOUTHBOURNE FREE CHURCH CHURCH MISSIONARY FUND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 INCOME- [RESTRIE0} 2025 2024 INCOME TOTALINCOME EXPENDITURE TOTAL EXPENDITURE SURPLUSIDEFicm FOR THE YEAR 14CQJ $7 ACCUMULATED FUND I APRIL 2024 892 ST ACCUMULATED FUND 31 MARCH 2025 492 892
SOUTHBOURNE FREE CHURCH CHURCH PASTOR'S FUND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 RCH 2025 INCOME- IRESTRICTEDI 2025 2024 TOTAL INCOME 674 915 INTERNAL TRANSFER FROM SAVINGS io.(x)J TOTAL EXPENDITURE 15.154 iO.(KJ8 INTERNAL TRANSFER TO SAVINGS lo. SURPLUS/DEFicrr FOR THE YEAR 114.480) 19,0931 ST ACCUMULATED FUND I APRIL 2024 20,947 ST ACCUMULATED FUND 31 MARCH 2025 6,467 20,947
SOUTHBOURNE FREE CHURCH HALL HIRE FUNO INCOME AND EXPENDITURE ACCOUNTFOR THE YEAR ENDED 31 MARCH 2025 INCOME 2025 2024 INCOME IRESTRICTEDI Hire Fees 4,502 4.012 TOTAL INCOME 4,502 EXPENDITURE TOTAL EXPENDITURE IDEFICITISURPLUS FOR THE YEAR 4,502 4.012 ACCUMULATED FUND I"APRIL 2024 I,Z54 2.242 5T ACCUMULATED FUND 31 MARCH 2025 5,756. 6.254 • Transfer agreed • io