GRAYS BAPTIST CHURCH
FINANCIAL STATEMENTS
31ST DECEMBER 2024
REGISTERED CHARITY NO. 219975
GRAYS BAPTIST CHURCH
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
CONTENTS
| Page | |
|---|---|
| Charity information | 1 |
| Trustees’ Annual report | 2 - 6 |
| Independent examiner’s report | 7 |
| Statement of financial activities | 8 |
| Balance Sheet | 9 |
| Notes | 10 - 15 |
| Detailed income and expenditure accounts | 16 - 19 |
GRAYS BAPTIST CHURCH
CHARITY INFORMATION
| TRUSTEES | J. Burt (deceased 12.11.2024) |
|---|---|
| D. Franks | |
| S. Livermore | |
| P. Stephenson | |
| H. Hutchinson | |
| R. Kensell | |
| G. Kabia | |
| L. Ansong | |
| R. Ohene | |
| R. Akinlawon | |
| Rev L.A. Ashley | |
| BANKERS | Lloyds |
| 34 High Street | |
| Grays | |
| Essex | |
| RM17 6LX | |
| ACCOUNTANTS | Peaty & Co |
| Chartered Accountants | |
| 163-164 Moulsham Street | |
| Chelmsford | |
| Essex | |
| CM2 0LD | |
| CHARITY REGISTRATION NUMBER | 219975 |
| ADDRESS | Orsett Road |
| Grays | |
| Essex | |
| RM17 5HH |
1
GRAYS BAPTIST CHURCH
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
The Trustees of the charity present their annual report and the financial statements for the year ended 31st December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16/07/2014.
HISTORY, OBJECTIVES AND ACTIVITIES OF THE TRUST
| NAME OF CHARITY | Grays Baptist Church |
|---|---|
| GOVERNING DOCUMENT | Deed of Settlement dated 26th January 1894 |
| DESCRIPTION | A place for religious worship by a church or society of |
| Protestant dissenters called Particular Baptist |
The Charity Registration Number, Charity Address and List of Trustees can be found on page 1.
| MANAGEMENT AND GOVERNANCE ARRANGEMENTS | MANAGEMENT AND GOVERNANCE ARRANGEMENTS |
|---|---|
| LEADERSHIP | Minister, 2 Elders, 8 Leaders |
| MEMBERSHIP | 66 (as at December 2024) |
| MEMBERSHIP | |
| STATISTICS:age groups | 0-20 years - 0 members |
| 21-40 years - 26 members |
|
| 41-60 years - 25 members | |
| 61+ - 15 members | |
| EMPLOYEES | |
| MINISTER | Rev L.A. Ashley |
| CLEANERS | Mrs J. Sackey (part time) |
| Mrs D. Phillips (part time) |
The trust deed provides for a minimum and a maximum of trustees. When there is a requirement for new trustees, these are identified and appointed by Church members. The chair of trustees is responsible for the induction of any new trustee which involves awareness of a trustee’s responsibilities, the governing document, administrative procedures, the history and philosophical approach of the charity. A new trustee receives copies of the previous year’s annual report and accounts and a copy of the Charity Commission leaflet ‘The Essential Trustee: What You Need to Know’. Most of the existing trustees have held office for over 10 years.
The trustees annually review the risks that the charity faces. These continue to be considered minimal and relate to falling numbers and ages of members.
2
GRAYS BAPTIST CHURCH
TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2024
PROCEDURES AND MEETINGS
ELDERS’ MEETING
Regularly throughout the month.
LEADERS’ MEETING First Monday of the month
CHURCH MEETINGS
-
(a) The Church Members meet quarterly for Christian fellowship and for the transaction of the business of the Church; one of these meetings shall be the Annual General Meeting. Normally the Minister will chair the meetings.
-
Notice of such meetings shall be given at Public Worship on at least two Sundays before the meeting.
-
(b) A Special Church Meeting may be called at the discretion of a majority of the Leadership Team, or at the written request of ten members.
-
Notice of such meeting shall be given at Public Worship on at least two Sundays before the meeting.
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(c) All Members are entitled to attend Church Meetings, but only members aged 16+ shall be entitled to vote.
-
(d) A member shall be entitled to a postal vote for an item at a Church Meeting to be decided by ballot provided that their reason for non-attendance is accepted by the Leadership Team.
CHURCH ACTIVITIES
Sunday Services First Sunday of the month All Age Service with Family Communion. Second to Fifth Sundays Preaching Service at 10.30am Average attendance Adults and Children 80 Youth Activities Children’s Church – Primary age Teenager’s Church – Secondary age Creche Each Sunday
3
GRAYS BAPTIST CHURCH
TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2024
Mid-week
Online Bible Study Wednesday evening Daytime Bible Study Friday morning Ladies Fellowship 1st Friday evening in the month Mens Fellowship 4th Saturday morning in the month
Special services held during 2024 Believer’s Baptism Receiving new Church members Marriage Child dedication
Meetings/Activities involving the Community
Rascals - a Parent and Toddler group, held weekly, used by approximately 20 families.
The Space - a community “drop-in” centre, held weekly, open to anyone, 15 people per session.
The funding for all activities is through donations plus some fund raising activities. The leadership team oversees all activities with help from a dedicated band of volunteers.
ACHIEVEMENTS AND PERFORMANCE OF THE TRUST
Grays Baptist Church continues to be a member of:
-
the Baptist Union of Great Britain
-
the Eastern Baptist Association
-
the Evangelical Alliance
and the Church continues to consist of those individuals who have become a member according to Section 4 of the Church Rules (updated November 2005), Section 4.
4
GRAYS BAPTIST CHURCH
TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2024
During the year, the Church membership has risen, along with the number of people attending services. It continues to support events within the Baptist family both locally and regionally and also participates in events taking place locally with other Churches in the area.
FINANCIAL REVIEW
The Church finances are set out on pages 8 to 15. It is the trustees’ policy not to acquire or maintain large reserves and this is reflected in our financial statements. However, in December 2019 a legacy of £300,035 was received which has led to the significant increase in reserves.
FUTURE PLANS
The trustees continue with their plan set out in its Deed of Settlement, maintaining a place of religious worship in Grays.
TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
5
GRAYS BAPTIST CHURCH
TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2024
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
INDEPENDENT EXAMINER
The trustees intend to ask the existing accountants to undertake the independent examination of the Trust in the following year.
This report was approved by the board on and signed on their behalf by:
……………………………… Miss S. Livermore
6
GRAYS BAPTIST CHURCH
INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF GRAYS BAPTIST CHURCH FOR THE YEAR ENDED 31ST DECEMBER 2024
I report to the trustees on my examination of the accounts, set out on pages 8 to 15, of the above charity (”the Trust”) for the year ended 31st December 2024.
Responsibilities and basis of report
As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirement of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiners’ statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that, in any material respect:
-
the accounting records were not kept in accordance with s130 of the Charities Act; or
-
the accounts did not accord with the accounting records: or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair, view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
L. Ayling FCA
Peaty & Co Chartered Accountants 163-164 Moulsham Street Chelmsford Essex CM2 0LD
7
GRAYS BAPTIST CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024
| Note Income Income and endowments from: Donations and legacies 2 Investment income 3 Other income 4 Total income and endowments Resources expended Expenditure on: Charitable activities Total expenditure 5 Net income/(expenditure) before transfers Transfers between funds Net movement in funds Reconciliation of funds Fund balances brought forward at 1st January 2024 Fund balances carried forward at 31st December 2024 |
Unrestricted 54,668 347 1,330 _ 56,345 _ 96,757 _ 96,757 _ (40,412) 25,481 _ (14,931) 51,798 _ 36,867 _ |
2024 2023 Restricted Total Total 3,060 57,728 49,726 14,531 14,878 14,829 - 1,330 2,388 _ _ _ 17,591 73,936 66,943 _ _ _ 12,567 109,324 83,524 _ _ _ 12,567 109,324 83,524 _ _ _ 5,024 (35,388) (16,581) (25,481) - - _ _ _ (20,457) (35,388) (16,581) 352,075 403,873 420,454 _ _ _ 331,618 368,485 403,873 _ _ _ |
|---|---|---|
All the above results are derived from continuing activities. All gains and losses realised in the year are included. Note 9 gives details of changes in funds applied for fixed assets for charity use.
8
GRAYS BAPTIST CHURCH
BALANCE SHEET
| Fixed assets Tangible assets Current assets Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Net assets Funds Unrestricted funds Restricted funds Fixed asset valuation reserve |
AS AT 31ST DECEMBER 2024 Notes 2024 2023 £ £ 8 2,963,302 2,887,381 331,755 367,083 9 1,800 1,740 _ _ 329,955 365,343 _ _ 3,293,257 3,252,724 _ _ 10 36,867 51,798 10 331,618 352,075 10 2,924,772 2,848,851 _ _ 3,293,257 3,252,724 _ _ |
|---|---|
The financial statements on pages 8 to 15 were approved by the Trustees on and signed on its behalf by:
………………………
Miss S. Livermore
9
GRAYS BAPTIST CHURCH
NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2024
1. Accounting policies
(a) Basis of preparation and assessment of going concern
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) issued on 16th July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS102.
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
(b) Fund structure
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
(c) Income recognition
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
10
GRAYS BAPTIST CHURCH
NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2024
Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
(d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
(e) Fixed assets
The church premises and contents are included in the balance sheet at insurance value because reliable cost information is not available, and valuation would incur significant costs which would be onerous compared with the additional benefit gained by the user of the accounts.
The manse premises are stated at cost.
2. Donations and legacies
| Donations and legacies | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Offerings | 44,194 | 36,893 |
| Donations | 5,554 | 5,853 |
| HM Revenue & Customs refunds | 7,980 | 6,980 |
| _ | _ | |
| 57,728 | 49,726 | |
| _ | _ |
11
GRAYS BAPTIST CHURCH
NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2024
- Investment income
| 3. | Investment income | ||||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| £ | £ | ||||
| Bank interest | 14,878 | 14,829 | |||
| ______ | ______ | ||||
| 4. | Other income | ||||
| Hall hire | 1,330 | 2,388 | |||
| ______ | ______ | ||||
| 5. | Total resources expended | ||||
| Staff | Other | Total | Total | ||
| Costs | Costs | 2024 | 2023 | ||
| Charitable activities: | |||||
| Premises expenses | 5,746 | 51,044 | 56,790 | 32,623 | |
| Ministers costs | 32,305 | 2,174 | 34,479 | 32,636 | |
| Activities of Church groups | 825 | 825 | 925 | ||
| Other Church costs | - | 1,247 | 1,247 | 1,501 | |
| Donations | - | 10,349 | 10,349 | 8,651 | |
| ______ | ______ | ______ | ______ | ||
| 38,051 | 65,639 | 103,690 | 76,336 | ||
| ______ | ______ | ______ | ______ | ||
| Governance costs | - | 1,800 | 1,800 | 1,740 | |
| Support costs | - | 3,834 | 3,834 | 5,448 | |
| ______ | ______ | ______ | ______ | ||
| Total resources expended | 38,051 | 71,273 | 109,324 | 83,524 | |
| ______ | ______ | ______ | ______ |
12
GRAYS BAPTIST CHURCH
NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2024
The resources expended by the charity include:
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Independent examiner’s fee | 1,800 | 1,740 | |
| ______ | ______ | ||
| 6. | Trustees’ remuneration |
The trustees neither received nor waived any emoluments during the year (2023 - £Nil).
| 7. | Staff costs | |||
|---|---|---|---|---|
| Wages and salaries | 38,051 | 36,049 | ||
| ______ | ______ | |||
| 8. | Tangible fixed assets | |||
| Land and | Fixtures and | |||
| Buildings | Fittings | Total | ||
| Valuation: | ||||
| At 1st January 2024 | 2,673,071 | 214,310 | 2,887,381 | |
| Revaluation | 71,625 | 4,296 | 75,921 | |
| __ | __ | __ | ||
| At 31st December 2024 | 2,744,696 | 218,606 | 2,963,302 | |
| __ | __ | __ | ||
| 9. | Creditors: amounts falling due | |||
| within one year | ||||
| Accruals | 1,800 | 1,740 | ||
| _ | _ |
13
GRAYS BAPTIST CHURCH
NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2024
10. Statement of funds
At 01/01/24 Income/ Expenditure Transfers At 31/12/24 Revaluation
| Unrestricted funds: | |||||
|---|---|---|---|---|---|
| General reserve | 51,798 | 56,345 | (96,757) | 25,481 | 36,867 |
| ______ | ______ | ______ | ______ | ______ | |
| Restricted funds: | |||||
| Building fund | 733 | 830 | (10,888) | 10,200 | 875 |
| Youth work fund | 580 | 860 | (984) | - | 456 |
| Space fund | 25 | 479 | (308) | (180) | 16 |
| Rascals fund | 203 | 753 | (387) | (500) | 69 |
| Audio Visual fund | 10,767 | 184 | (-) | - | 10,951 |
| Legacy fund | 339,767 | 14,485 | (-) | (35,001) | 319,251 |
| ______ | ______ | ______ | ______ | ______ | |
| Total restricted funds | 352,075 | 17,591 | (12,567) | (25,481) | 331,618 |
| ______ | ______ | ______ | ______ | ______ | |
| Fixed asset valuation | |||||
| reserve | 2,848,851 | 75,921 | - | - | 2,924,772 |
| __ | _ | _ | ______ | __ | |
| Total funds | 3,252,724 | 149,857 | (109,324) | - | 3,293,257 |
| __ | _ | _ | ______ | __ |
The General reserve represents the free funds of the charity which are not designated for particular purposes.
The Building Fund represents funds received for maintenance of the Church buildings.
The Youth Work Fund represents the funds of the Sunday School and Youth Group.
The Space Fund represents the funds of the drop in centre.
The Rascals Fund represents the funds of the parent and toddler group.
The Audio Visual Fund represents funds raised towards the replacement and maintenance of the sound system.
The Legacy fund represents funds received in December 2019 from a deceased member. The funds are invested to earn income to be used towards the salary for the Minister.
14
GRAYS BAPTIST CHURCH
NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2024
| 11. | Analysis of net assets between funds: Unrestricted Restricted Total Funds Funds Fund balances at 31st December 2024 are represented by: Tangible fixed assets 2,954,187 9,115 2,963,302 Cash at bank and in hand 9,252 322,503 331,755 Creditors (1,800) - (1,800) _ _ _ Net assets: 2,961,639 331,618 3,293,257 _ _ _ |
|---|---|
15
GRAYS BAPTIST CHURCH
DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| General fund | ||||
| INCOME | ||||
| Offerings and donations | 54,668 | 45,497 | ||
| Interest received | 347 | 118 | ||
| Hire and weddings | 1,330 | 2,388 | ||
| Transfers | 35,681 | 30,350 | ||
| _ | _ | |||
| 92,026 | 78,353 | |||
| EXPENDITURE | ||||
| Building and maintenance | 45,902 | 26,470 | ||
| Pastoral | 35,726 | 34,137 | ||
| Donations | 9,495 | 7,779 | ||
| Support and governance | 5,634 | 7,188 | ||
| Transfers | 10,200 | 1,200 | ||
| _ | _ | |||
| 106,957 | 76,774 | |||
| _ | _ | |||
| Net (expenditure)/income for the year | (14,931) | 1,579 | ||
| _ | _ | |||
| Building fund | ||||
| INCOME | ||||
| Offerings and donations | 805 | 660 | ||
| Interest received | 25 | 23 | ||
| Transfers | 10,200 | 1,200 | ||
| _ | _ | |||
| 11,030 | 1,883 | |||
| EXPENDITURE | ||||
| Repairs and renovations | 10,888 | 6,154 | ||
| _ | _ | |||
| 10,888 | 6,154 | |||
| _ | _ | |||
| Net income/(expenditure) for the year | 142 | (4,271) | ||
| _ | _ |
16
GRAYS BAPTIST CHURCH
DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2024 (continued)
| 2024 | 2023 | 2023 | ||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Youth work fund | ||||
| INCOME | ||||
| Offerings and donations | 860 | 935 | ||
| Interest received | - | 1 | ||
| _ | _ | |||
| 860 | 936 | |||
| EXPENDITURE | ||||
| Activities | 130 | 200 | ||
| Donations | 854 | 862 | ||
| _ | _ | |||
| 984 | 1,062 | |||
| _ | _ | |||
| Net (expenditure) for the year | (124) | (126) | ||
| _ | _ | |||
| Space fund | ||||
| INCOME | ||||
| Offerings and donations | 479 | 392 | ||
| EXPENDITURE | ||||
| Donations | - | 10 | ||
| Food, equipment etc. | 308 | 341 | ||
| Transfers | 180 | 100 | ||
| _ | _ | |||
| 488 | 451 | |||
| _ | _ | |||
| Net (expenditure) for the year | (9) | (59) | ||
| _ | _ |
17
GRAYS BAPTIST CHURCH
DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2024 (continued)
| 2024 | 2023 | 2023 | ||
|---|---|---|---|---|
| £ | £ | £ | £ |
|
| Rascals fund | ||||
| INCOME | ||||
| Offerings and donations | 753 | 711 | ||
| EXPENDITURE | ||||
| Food, toys, equipment etc. | 387 | 383 | ||
| Transfers | 500 | 250 | ||
| _ | _ | |||
| 887 | 633 | |||
| _ | _ | |||
| Net (expenditure)/income for the year | (134) | 78 | ||
| _ | _ | |||
| Audio Visual fund | ||||
| INCOME | ||||
| Offerings and donations | 163 | 1,531 | ||
| Interest received | 21 | 4 | ||
| _ | _ | |||
| 184 | 1,535 | |||
| EXPENDITURE | ||||
| Equipment | - | - | ||
| _ | _ | |||
| - | ||||
| ______ | ______ | |||
| Net income for the year | 184 | 1,535 | ||
| ______ | ______ |
18
GRAYS BAPTIST CHURCH
DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2024 (continued)
| 2024 | 2023 | 2023 | ||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Legacy fund | ||||
| INCOME | ||||
| Interest received | 14,485 | 14,683 | ||
| EXPENDITURE | ||||
| Transfers | 35,001 | 30,000 | ||
| _ | _ | |||
| 35,001 | 30,000 | |||
| ______ | ______ | |||
| Net (expenditure) for the year | (20,516) | (15,317) | ||
| ______ | ______ | |||
| SUMMARY | ||||
| General fund | (14,931) | 1,579 | ||
| Building fund | 142 | (4,271) | ||
| Youth work fund | (124) | (126) | ||
| Space fund | (9) | (59) | ||
| Rascals fund | (134) | 78 | ||
| Audio Visual fund | 184 | 1,535 | ||
| Legacy fund | (20,516) | (15,317) | ||
| _ | _ | |||
| Net (expenditure)/income for the year | (35,388) | (16,581) | ||
| _ | _ |
19