The Living Hope Church saw income from tithes and offerings increase to just under £850,000 last year.

Tithes and offerings are the principal source of income for the church, and the majority is paid directly to its bank accounts by standing order.

The latest audited accounts for the church’s charitable company show that income from this source totalled £849,820 in the 12 months to the end of August last year - up from £797,654 the previous year.

Total income, including restricted fund donations, interest income, and income from conferences and other events was £920,324, up from £886,173 in 2016.

But total expenditure also rose, from £926,928 in 2016 to £960,008 last year, leaving a deficit of just under £40,000.

In 2015, Living Hope was named in the House of Keys as being in the top 20 of Manx-registered charities, ranked by income.

As a charitable company, the church’s income is exempt from income tax.

It was a significant year for Living Hope in 2017 which saw the launch of two new congregations with Sunday evening services at Castletown Civic Centre and South Douglas Old Friends’ Association.

Average weekly attendance at the Sunday morning services in Douglas, Port St Mary, Peel and Ramsey increased from 525 to 553 over the year.

Living Hope employs eight full-time pastors and assistant pastors, four of whom served on the board of the company during the year.

The annual accounts show that directors’ remuneration fell, with the resignation of one board member, from £222,969 to £197,660. Tithes and offerings from the directors dropped slightly from £32,588 to £28,302.

Lead pastor Jonathan Stanfield made headlines when the congregation was invited to make donations to help him buy a new home in Douglas, Holly Lodge, which is used as a manse.

Mr Stanfield was given an £160,000 interest-free loan by the church to buy the property.

The accounts show a valuation adjustment on the loan of £68,754. This, it states, comprises a £71,412 write-down to £88,588 less a figure of £2,658 being the deemed annual interest of 3% during the course of the year. The accounts explain the 3% figure has been assumed for the purpose of valuing the loan.

During the year, Living Hope hosted two international conferences and sent ministers and teams of volunteers to support other churches partnering with Four12 in the UK, Ireland, Switzerland, Romania, Egypt, South Africa, Zambia, Brazil and the Calais refugee camps.

A total of £85,304 was spent on missions, £29,900 on evangelism and £105,352 on ministries.

The church’s funds totalled £1,678,021 including general funds, building funds and a financial needs fund. This is down from £1,717,705 in 2016.