Charity Accounts Intelreading the accounts so you don’t have to

GROVE CHAPEL

Registered charity 1150927 · accounts filings on the Charity Commission register

Latest income
£164k
Latest spending
£216k
Registered
2013
Accounts read
FY2023

Financial health, per its FY2023 accounts

The accounts state that the charity reported a net income of £150,216 for the year ended 31 December 2023, a significant improvement from the previous year's net expenditure. Per the trustees' report, unrestricted free cash reserves stood at £295,553, which is above the stated policy target of six months' unrestricted annual expenditure. The charity holds substantial fixed assets valued at over £4.5 million, primarily freehold property, contributing to its overall financial stability.

What the accounts disclose

Reserves policy: six months-worth of unrestricted annual expenditure (held: £296k)
“The Trustees consider that unrestricted free cash reserves should be maintained at six months-worth of unrestricted annual expenditure, based on a year when the church has a Minister (so we held £80,000 as part of reserves for 2023).” — page 5
Per its FY2023 accounts as filed with the Charity Commission.
Related-party transaction: Note 9
“A total of £4,293 (2022: £4,751) was reimbursed to the trustees and their close relations for catering supplies, cleaning supplies, repairs and maintenance, website fees, purchase of small equipment and Youth Ministry costs.”
“During the year trustees gave a total of £48,249 (2022: £48,001) in unrestricted offerings and donations and a total of £nil in restricted offerings (2022: £0).” — page 14
Per its FY2023 accounts as filed with the Charity Commission.
Related-party transaction: Note 9
“A total of £4,293 (2022: £4,751) was reimbursed to the trustees and their close relations for catering supplies, cleaning supplies, repairs and maintenance, website fees, purchase of small equipment and Youth Ministry costs.”
“During the year trustees gave a total of £48,249 (2022: £48,001) in unrestricted offerings and donations and a total of £nil in restricted offerings (2022: £0).” — page 14
Per its FY2023 accounts as filed with the Charity Commission.

Accounts independently examined (not a full audit).

Register events

Trustees

Trustee list from the Charity Commission register (current, not historical).

Operates in: Southwark

Income and spending

Financial year endIncomeSpending
31/12/2024£164k£216k
31/12/2023£282k£132k
31/12/2022£155k£156k
31/12/2021£172k£154k
31/12/2020£171k£154k

Common questions

Is GROVE CHAPEL financially healthy?

The accounts state that the charity reported a net income of £150,216 for the year ended 31 December 2023, a significant improvement from the previous year's net expenditure. Per the trustees' report, unrestricted free cash reserves stood at £295,553, which is above the stated policy target of six months' unrestricted annual expenditure. The charity holds substantial fixed assets valued at over £4.5 million, primarily freehold property, contributing to its overall financial stability. Its FY2023 accounts were independently examined.

Charities like this

Semantically similar by activities and financial character, from our analysed corpus. Compare with THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE BAPTIST, GROVE.