NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net surplus of £159,349 for the year ended 31 December 2024, driven largely by a £223,000 insurance settlement and investment gains. Unrestricted reserves increased to £1,306,611, a level the trustees consider adequate and in line with their policy to fund expected deficits and guard against rental income loss. The charity operates a defined contribution pension scheme and has no disclosed pension deficits or trading subsidiaries.
What the accounts disclose
“There is a need to retain sufficient reserves to fund the expected annual deficit and to guard against the potential loss of rental income. The trustees consider the level of reserves held at year end is adequate and in line with the policy.”
Trustees
- Adam Owen
- Clifford Rapley
- MIKE PRESTON
- Peter Thomas
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £323k | £173k |
| 31/12/2023 | £106k | £169k |
| 31/12/2022 | £66k | £176k |
| 31/12/2021 | £101k | £190k |
| 31/12/2020 | £258k | £247k |
Common questions
Is NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY financially healthy?
The accounts state that the charity reported a net surplus of £159,349 for the year ended 31 December 2024, driven largely by a £223,000 insurance settlement and investment gains. Unrestricted reserves increased to £1,306,611, a level the trustees consider adequate and in line with their policy to fund expected deficits and guard against rental income loss. The charity operates a defined contribution pension scheme and has no disclosed pension deficits or trading subsidiaries. Its FY2024 accounts were independently examined.