The financial afairs of the trust remain solid, with general fund having reserves of £889,552 and Heritage fund growing from 334,232 to £744,739. The Heritage fund had an income of £453,297 and very limited expenses as the fund raising campaign was wound up. The only weakness was the reduction in value of the investments where we show an unrealised loss of £96,046, due to weakness of the London Stock market where we are principally invested. In respect of our regular activities, income from the Ride and Stride sponsored cycle ride, grants from charitable trusts and subscriptions were at a similar level to the prior year. Investment income grew significantly, up from £41,476 to £61,076, due to the growth of the Heritage fund investments. Once again we were able to increase the grants to churches to £197,000, up from £194,000 in 2014/15. The outlook for 2016/17 and after is for a continuing growth of the Heritage fund. This will enable further growth in the level of funds we can award.
Giles Dessain FCA
You can download a pdf version of the Summary of the Accounts 2015/2016 here.
Annual Report 2016
Download the Annual Report 2016
Abingdon Baptist Church
Awarded a grant by the OHCT of £15,000 for major internal improvements in 2014/2015