LiNC Chairman’s Report Nov 2023

The LINC Charity Company has shown a remarked improvement since last year’s performance. The previous year was following on from the pandemic and only reflected a gradual performance. However, this last year has ben a significant improvement. Income was almost up to pre-pandemic level, and expenditure was significantly less than previously. This was following a board decision to minimise expenditure during the past year.
LiNC Charity Company remains in a good financial position. The policy decisions on significant Financial Contingency levels taken by the LINC Board several years ago continues to be a significant help in our financial situation.
Electrical Work
The standard Fire Alarm and Emergency Light testing were carried out as required by law for a public building.

Boiler Servicing
The two boilers had the regulation testing carried out. There will be some expenditure requirement in the new financial year.

Previously, the Board made the decision to have a complete survey carried out of the whole building. The survey was to include the status of the complete external building, the internal building, the leaded lights and the spire. This work was completed during the year and we now have the reports on all repair work required to upgrade the building to first class condition. The costs of the work required are extremely high and beyond our ability to carry out without significant grant monies. The possibility of grant funding will be investigated.
The costs of the building surveys were paid out at £5232 during this year.

We also managed to reclaim the VAT paid out on much of the maintenance work carried out, which gave us a payment of £1350 from the Government Department of Culture Media and Sport. This was lower than the previous year, because improvement spending was limited.

Car Park
LINC has continued with the hiring out of the car park and been able to fill all the parking spaces throughout the year and this gave us an income of £8020

LiNC Operations trading Company
This is the part of the company which runs all the catering activities, and the Bed and Breakfast. The ability to have our rooms fully available again has resulted in a significant income. The regular Coffee Mornings and refreshments served at concerts and other functions created an income of £9566. After costs, this resulted in a donation to LINC Company of £13886.
Normal Activities
All of our usual activities have been in operation this year. The regular activities are religious services, and cultural events, with all the following contributing to income. These are coffee mornings / Film Nights /Handicraft Group /concerts and we now also hire out rooms during weekday evenings for band and choir practices, an art class and a self-help group. This resulted in a Rental Income of £6398.
The Christmas Bazaar was very successful bringing an income of £5403.
The Board thanks the relatively few volunteers and the handicraft group for their significant contributions in these activities.

Thankfully, membership has remained steady, currently 120 members of the LiNC Company. This has generated an income of £3651, which is much appreciated by the LINC Board.

Financial review and Reserves Policy
It is the policy of the charity that a high level of unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to at least one year’s expenditure. The trustees consider that reserves at this level or higher will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
Thus, this year, the annual result costs on the running of the building and activities showed an increase in funds of £10404, which is a major improvement on last year’s loss. This resulted in an increase of the reserves from £120,141 to £131809

Roger Metcalf
LINC Chairman