## **Restore Filey Annual Report 31.3.2023 – 31.4.2024** 

Restore Filey has not passed the threshold to require independently audited accounts. This financial overview is to inform the trustees and the Charity Commission on the financial position during this financial year. Restore Filey had an income of £14,346.17 and an expenditure of £11,800.45 during the financial year. 


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Restore Filey Income and<br>Expenditure<br>Income Expenditure<br>**----- End of picture text -----**<br>


It is important to establish a breakdown in respect of the income and expenditure so that we can analyses the themes of growth within the organisation. Restore Filey received £1,144.96 in Gift Aid. We continue to ensure that this is claimed monthly, so we are ensuring that we are utilising this effectively. Restore Filey has received £8,101.21 in donations and £5,100 in grants. 


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Restore Filey Income Breakdown<br>**----- End of picture text -----**<br>




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Grants Donations Gift Aid<br>**----- End of picture text -----**<br>


In respect of expenditure the largest outgoing was in respect of resources that fund the different events that have been run throughout the year. It is encouraging that for the first 9 months of the year we were paying payroll expenses, however in September 2023 we took the decision that we would no longer continue to pay wages and would all be classed as volunteers to ensure the sustainability of the organisation. Expenses in respect of room hire continue to be a necessary outgoing for us. 


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Restore Filey Expenditure<br>Breakdown<br>Room Hire Payroll<br>Expenses Resources/Equipment<br>**----- End of picture text -----**<br>


OFFICIAL 




## **Restore Filey Annual Report 31.3.2023 – 31.4.2024** 

## **Analysis** 

Restore Filey has met all of its financial obligations during this financial year. We continue to be able to hold financial reserves and are able to meet the ongoing overheads that we hold. There has been an increase in giving and we continue to apply for grants on a regular basis. The decision to stop paying wages in September 2023 was a positive decision taken to protect the sustainability of the organisation. We continue to meet our financial obligations in respect of expenses, and this is imperative as the organisation is run by volunteers, we do not want anyone to be out of pocket. 

Restore Filey is a community church that has outreach at its heart. For this reason, we run frequent outreach events throughout the year, and this remains our largest outgoing. As an integral part of the ethos of Restore Filey it is important that we continue to be able to sustain this as it is the significant aspect of the church that connects us to the community. 

OFFICIAL