Financial Statement
In March 2022 we aimed for to break even in the year to 31st March 2023, acutely aware that this was a very tough target.
The operating surplus of £92,000 has therefore been received by the Trustees with gratitude and encouragement. In addition, £223,000 was a one-off capital grant for the building of The Ark. So at the year end, the published accounts show a surplus of £315,000. Of the £92,000, £89,000 has been added to restricted reserves. These are funds which have been earmarked for specific purposes and the balance has gone to unrestricted reserves, to which there are no strings attached by external parties. Excluding the funding for The Ark development, income was £1,119k, a small increase on the previous year, and expenditure remained steady at £1,027k, in spite of increases in activities and facilitated by reductions in central costs.
