The pre-audit position shows an operating deficit of around £1.3m, driven by continued underperformance in investments and a decrease in Parish Share income to £10.3m, down from £10.4m in 2024, failing for the first time to keep pace with inflation.
While stipend costs were lower than expected due to ongoing vacancies, these savings were offset by a substantial rise in maintaining clergy homes.
Overall, expenditure and cashflow requirements continue to exceed income by £200k each month. In response, we are implementing the trustee-approved financial plan at pace, taking decisive action considering the scale of the financial challenge. Full financial data will be published in the Annual Report.
Please note, these are unaudited figures:
