2022-12-31-accounts - Grace Tabernacle

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	GRACE TABERNACLE PENTECOSTAL ASSEMBLIES	GRACE TABERNACLE PENTECOSTAL ASSEMBLIES	GRACE TABERNACLE PENTECOSTAL ASSEMBLIES	Charity No (if any)	1089184	CC17a
	Annualaccountsforthe period
	Period start date	01/01/2022	To	Period end date	31/12/2022

Section A	Statement of financial activities
Recommended categories by activity Details of own analysis Note Incoming resources (Note 3) Incoming resources from generated funds Voluntary income S01 Activities for generating funds S02 Investment income S03 Incoming resources from charitable activities S04 Other incoming resources S05 S06 Resources expended (Notes 4-8) Costs of Generating Funds Costs of generating voluntary income S07 Fundraising trading costs S08 Investment management costs S09 Charitable activities S10 Governance costs S11 Other resources expended S12 S13 S14 S15 S16 S17 S18 S19 S20 S21 *Total funds carried forward* Total funds brought forward *Net movement in funds* *Net incoming/(outgoing) resources before* *transfers* Gains and losses on investment assets Gains and losses on revaluation of fixed assets for the charity’s own use Other recognised gains/(losses) *Net incoming/(outgoing) resources before* *other recognised gains/(losses)* Gross transfers between funds *Total resources expended* *Total incoming resources*		Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
		155,482	5,176		160,658	162,188
		-	-	-	-	-
		-	-	-	-	-
		-	89	-	89	1
		-	-	-	-	-
		34,728	88,783	-	123,511	67,116
		190,210	94,048	-	284,258	229,305

		-	-	-	-	-
		12,381	7,772	-	20,153	46,709
		-	-	-	-	-
		-	-	-	-	-
		94,486	-	-	94,486	93,022
		-	-	-	-	-
		18,152	73,376	-	91,528	44,225
		125,019	81,148	-	206,167	183,956
		65,191	12,900	-	78,091	45,349
		32,806 -	32,806		-	-
		32,385	45,706	-	78,091	45,349

		-	-	-	-	-
		-	-	-	-	-
		32,385	45,706	-	78,091	45,349
		42,705	53,393	-	96,098	50,749
		75,090	99,099	-	174,189	96,098

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Section B Balance sheet

Unrestricted funds £ F01	Restricted income funds £ F02	Endowment funds £ F03	Total this year Total last year £ £ F04 F05	Total this year Total last year £ £ F04 F05
24,892	1,786,722	-	1,811,614	1,813,536
-	-	-	-	-
-	-	-	-	-
24,892	1,786,722	-	1,811,614	1,813,536

-	-	-	-	-
325	-	-	325	954
-	-	-	-	-
59,851	333	-	60,184	27,881
60,176	333	-	60,509	28,835

9,978	1,687,956	-	1,697,934	1,746,273

50,198	- 1,687,623	-	- 1,637,425	1,717,438 -

75,090	99,099	-	174,189	96,098

-	-	-	-	-
-	-	-	-	-

75,090	99,099	-	174,189	96,098

75,090			75,090	96,098
-			-	-
	-		-	-
		-	-	-

75,090	-	-	75,090	96,098

Signature		Date of approval Print Name
		PASTOR REID		07/08/2023

CC17a (Excel)

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Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

• and with*  Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);

and with the Charities Act.

N/A

-Tick as appropriate:
if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;
if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick
“Financial Reporting Standards for Smaller Enterprises (FRSSE)”.

CC17a (Excel)

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Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

Recognition of incoming	These are included in the Statement of Financial Activities (SoFA) when:
resources	 the charity becomes entitled to the resources;
	 the trustees are virtually certain they will receive the resources; and
	 the monetary value can be measured with sufficient reliability.
Incoming resources with	Where incoming resources have related expenditure (as with fundraising or contract income)
related expenditure	the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations	Grants and donations are only included in the SoFA when the charity has unconditional
	entitlement to the resources.
Tax reclaims on donations	Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to
and gifts	which they relate.
Contractual income and	This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind	Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
	Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or
	distributed by the charity.
	Gifts in kind for use by the charity are included in the SoFA as incoming resources when
	receivable.
Donated services and	These are only included in incoming resources (with an equivalent amount in resources
facilities	expended) where the benefit to the charity is reasonably quantifiable, measurable and material_._
	The value placed on these resources is the estimated value to the charity of the service or
	facility received.
Volunteer help	The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income	This is included in the accounts when receivable.
Investment gains and losses	This includes any gain or loss on the sale of investments and any gain or loss resulting from
	revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation committing the
	charity to pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs of trustee
	meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance	Where the charity gives a grant with conditions for its payment being a specific level of service
conditions	or output to be provided, such grants are only recognised in the SoFA once the recipient of the
	grant has provided the specified service or output.
Grants payable without	These are only recognised in the accounts when a commitment has been made and there are
performance conditions	no conditions to be met relating to the grant which remain in the control of the charity.
Support Costs	Support costs include central functions and have been allocated to activity cost categories on a
	basis consistent with the use of resources, eg allocating property costs by floor areas, or per
	capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use	These are capitalised if they can be used for more than one year, and cost at least £500. They
by charity	are valued at cost or a reasonable value on receipt.
Investments	Investments quoted on a recognised stock exchange are valued at market value at the year
	end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress	These are valued at the lower of cost or market value.
	NONE
POLICIES ADOPTED
ADDITIONAL TO OR
DIFFERENT FROM THOSE
ABOVE

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Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Analysis	This year Last year £ £	This year Last year £ £
TITHES AND OFFERINGS	160,658	162,188
RENTAL INCOME	84,783	14,100
INVESTMENT INCOME	89	1
OTHER	38,728	53,016
	-	-
Total	284,258	229,305

	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-

INTEREST RECEIVED	89	1
	-	-
	-	-
	-	-
	-	-
Total	89	1

	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-

CC17a (Excel)

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Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended Resources expended may be further analysed if this would help the reader of the accounts.

Analysis	This year Last year £ £	This year Last year £ £
ADMINISTRATIVE EXPENSES	94,486	93,022
	-	-
	-	-
	-	-
	-	-
Total	94,486	93,022

	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-

	20,153	46,709
	-	-
	-	-
Total	20,153	46,709

	91,528	44,225
	-	-
	-	-
	-	-
	-	-
Total	91,528	44,225

	-	-
	-	-
	-	-
Total	-	-

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Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

*support costs.*
Support cost type	Fundraising activity £	Charitable Activity £	Governance Activity £	Total Cost £
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
Total	-	-	-	-

Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).

Number of trustees who were paid expenses Nature of the expenses Total amount paid

This year	Last year

NIL	NIL
£0	£0

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

*appropriate box(es).*
Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor Independent examiner’s or auditors' fees for reporting on the accounts	This year £	Last year £
	4200	3840

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Section C Notes to the accounts (cont)

Note 7 Paid employees Please complete this note if the charity has any employees.

7.1 Staff Costs

Fundraising Charitable Activities Governance Other Total 7.2 Average number of full-time equivalent employees in the year Employer’s National Insurance costs Pension costs Total staff costs Gross wages, salaries and benefits in kind The parts of the charity in which the employees work	This year £	Last year £
	46,366	45,205
	6,314	4,628
	-	-
	52,680	49,833

nt employees in the year	This year Number	Last year Number
Fundraising	1	1
Charitable Activities	1	1
Governance	1	1
Other	-	-
Total	3	3

7.3 Defined contribution pension scheme Please complete if a defined contribution pension scheme is operated. Brief details of the scheme N/A

The costs of the scheme to the charity for the year The amount of any contributions outstanding at the year end The amount of any contributions prepaid at the year end

This year		Last year
£		£
	0		0
	0		0
	0		0

CC17a (Excel)

17/10/2023

Section C Notes to the accounts (cont)

Note 8 Grantmaking

Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

8.1 Total value of grants

8.1 Total value of grants
Purpose for whichgrants made	Grants to institutions Total amount £	Grants to individuals Total amount £
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-
*Total*	-	-

8.1 Grantmaking costs

If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated with grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs.

Support costs of grantmaking

£0

8.3 Grants made to institutions

If the charity has made grants to particular institutions that are material in the context of its grantmaking please give details of the institution supported, purpose of the grant and total paid to each institution listed. Sufficient information should be given to provide a reasonable understanding of the range of institutions supported.

*institutions supported.*
Names of institutions	Purpose	Total amount of grantspaid £
		-
		-
		-
		-
		-
		-
		-
		-
		-
		-
*Total grants to institutions*		-

CC17a (Excel)

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Section C Notes to the accounts (cont)

Note 9 Tangible fixed assets

Please complete this note if the charity has any tangible fixed assets

9.1 Cost or valuation

Freehold land & buildings £	Other land & buildings £	Plant, machinery and motor vehicles £	Fixtures, fittings and equipment £	Payments on account and assets under construction £	Total £
1,786,722	-	33,395	68,037	-	1,888,154
-	-	-	3,428	-	3,428
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
1,786,722	-	33,395	71,465	-	1,891,582
-	-	28,915	45,703	-	74,618
-	-	1,120	4,230	-	5,350
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	30,035	49,933	-	79,968

1,786,722	-	4,480	22,334	-	1,813,536
1,786,722	-	3,360	21,532	-	1,811,614

9.4 Revaluation

If any fixed assets have been revalued please give details of the valuer and method of valuation

N/A

* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

CC17a (Excel)

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Section C Notes to the accounts (cont)

Note 10 Investment assets

Please complete this note if the charity has any investment assets.

10.1 Fixed assets investments

Add/(deduct):net gain/(loss) on revaluation Carrying (market) value at beginning of year Carrying (market) value at end of year Add:additions to investments at cost Less:disposals at carrying value	£
	-
	-
	-
	-
	-

Please provide below:

10.2 A breakdown of the market values of investments shown above agreeing with the balance sheet row B03.

10.3 A breakdown of the income from investments agreeing with SOFA row S03.

Investments in subsidiary or connected undertakings and companies Analysis of investments Other investments Total Investment properties Securities not listed on a recognised Stock Exchange Cash held as part of the investment portfolio Investments listed on a recognised stock exchange or held in common investment funds, open ended investment companies, unit trusts or other collective investment schemes	10.2 Market value at year end £	10.3 Income from investments for the year £
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-

10.4 Material investment holdings

If any single investment is material in terms of its value (for example represents more than 5 per cent of the value of the charity’s total investments) please provide details.

Investment held

Market Value

CC17a (Excel)

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Section C Notes to the accounts (cont)

Note 11 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
-	-	-	-
-	-	-	-
325.0	954.0	-	-
-	-	-	-
325.0	954.0	-	-

Note 12 Creditors and accruals

Please complete this note if the charity has any creditors or accruals. 12.1 Analysis of creditors

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
1,687,956	1,734,475	-	-
-	-	-	-
-	-	-	-
9,978	11,798	-	-
-	-	-	-
1,697,934	1,746,273	-	-

12.2 Security over assets

If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.

CC17a (Excel)

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Section C Notes to the accounts (cont)

Note 13 Endowment and restricted income funds

Please complete this section if the charity has any endowment or restricted income funds.

13.1 Funds held

Please give a brief description of any of the following type of funds held by the charity:

permanent endowment funds (PE);
expendable endowment funds (EE); and
restricted income funds, including special trusts, of the charity (R).

Type PE, EE Fund Name Purpose and Restrictions or R

13.2 Movements of major funds

Please give details of the movements of the major funds summarised in the restricted and endowment columns of the Statement of Financial Activities.

Fund names	Fund balances brought forward £	Incoming resources £	Outgoing resources £	Transfers £	Gains and losses £	Fund balances carried forward £
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
Total Funds	-	-	-	-	-	-

13.3 Transfers between funds

Please give details of any transfers between funds.

From Fund(Name)	To Fund(Name)	Reason	Amount
UNRESTRICTED	RESTRICTED	TO MAINTAIN A POSITIVE BANK BALANCE	32806

CC17a (Excel)

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Section C Notes to the accounts (cont)

Note 14 Transactions with related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in note 6) details of such transactions should be provided in this note. If there are no transactions to report, please enter “None” in the relevant boxes.

14.1 Remuneration and benefits

Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee or other related parties by the charity or any institution or company connected with it.

Name of trustee or connected party	Legal authority (eg order, governing document)	Amounts paid or benefit value	Amounts paid or benefit value
		This year £	Last year £
REVEREND PAUL REID	CONTRACT OF EMPLOYMENT	46,366	45,205

14.2 Loans

Please give details of and amounts owing to or from the charity’s trustees or other related parties by the charity at the year end.

Due to trustees and related parties Due from trustees and related parties	Name of trustee or connected party	Legal authority	Amount owing	Amount owing
			This year £	Last year £

14.3 Other transaction(s) with trustees or related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a trustee or related party has a material interest.

Name of the trustee or relatedparty	Relationship to charity	Description of the transaction(s)	This year £	Last year £

CC17a (Excel)

17/10/2023

Section C Notes to the accounts (cont)

Note 15 Additional Disclosures

The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.

CC17a (Excel)

17/10/2023

CHARITY No: 1089184

GRACE TABERNACLE PENTECOSTAL ASSEMBLIES OF THE WORLD INC.

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

- Bray on Thames -

THE ACCOUNTING HOUSE COMPANY LIMITED

GRACE TABERNACLE - PENTECOSTAL ASSEMBLIES OF THE WORLD INC

31 DECEMBER 2022

INDEX
	Page
Charity Information	1
Trustees Annual Report	2-3
Independent Examiner's Report	4
Statement of Financial Activities	5-6
Balance Sheet	7
Notes to the Accounts	8

GRACE TABERNACLE - PENTECOSTAL ASSEMBLIES OF THE WORLD INC

31 DECEMBER 2022

TRUSTEES

P.A. Reid J. Pitt Bishop L. Thomas P.P. Reid

CHARITY NUMBER 1089184 (Registered in England & Wales)

ACCOUNTANTS

The Accounting House Co Ltd WeirBank Monkey Island Lane Bray on Thames SL6 2ED

BANKERS

NatWest Bank plc 57 Victoria Street London SW1H 0HN

GRACE TABERNACLE - PENTECOSTAL ASSEMBLIES OF THE WORLD INC

TRUSTEES ANNUAL REPORT

The Trustees submit their financial statements for the year ended 31 December 2022.

LEGAL STATUS

Grace Tabernacle - Pentecostal Assemblies of the World Inc. is governed by a constitution and is a registered charity number: 1089184. It's address is Grace House, Grenaby Road, Croydon CR0 2EJ.

OBJECTIVES

The object of the charity is to promote the Christian religion in the South of England. It has the following specific investment powers:-

Power to collect, accept, issue appeals for donations and to do all things that shall further the attainment of the objects of the Church; and,

Power to invest money, real and personal property; and

Power to be at liberty to borrow as required by law.

CHARITY'S ACTIVITIES AND ACHIEVEMENTS DURING THE YEAR

To promote Christian faith through:

Regular Services Regular Sunday School teaching Bible Study Classes Looking After Youth

The structure of the Church comprises of a Pastor, Ministers, Deacons and Sunday School teachers.

The Church holds regular conferences for different age groups of the congregation:-

Liaising with local churches of the local community Liaising with Pentecostal Churches in the UK and throughout the world

Apart from the Pastor, all are volunteers.

The charity did not experience any deficits in it's fund raising activities.

RESERVES POLICY

The Charity has two types of reserves namely a general reserve which represents the unrestricted funds reserve stands as £75,090 (2021 : £42,705) and a building fund reserve which represents the restricted building fund reserve stands at £99,099 (2021: £53,393).

GRACE TABERNACLE - PENTECOSTAL ASSEMBLIES OF THE WORLD INC

TRUSTEES ANNUAL REPORT (continued)

GIFT AID CLAIMS

The Charity received Gift Aid claims of £34,337 during the year (2020 : £30,227).

INVESTMENT SELECTION POLICY

Short term - short term fixed deposit and money market account.

REVIEW OF MAJOR RISK

Health and safety, annual fire inspection to comply with fire regulations.

The Charity has building and public liability insurance covering the buildings.

DECLARATION

I declare, in my capacity of Trustee, that:-

The Trustees have approved the report above and overleaf and have authorised me to sign on their behalf.

………………………………………………………

P.A. REID

7 August 2023

INDEPENDENT EXAMINER'S REPORT TO THE MANAGEMENT COMMITTEE OF

GRACE TABERNACLE - PENTECOSTAL ASSEMBLIES OF THE WORLD INC

We report on the accounts of the Charity for the year ended 31 December 2022 which are attached.

Respective responsibilities of trustees and examiners

As the Charity's management committee, you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7) of the Act, whether particular matters have come to our attention.

Basis of independent examiner's report

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

Inconnection with our examination, no matter has come to our attention:

(a) which gives us reasonable cause to believe that in any material respect the requirements;
to keep accounting records in accordance with section 41 of the Act; and
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
(b) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

THE ACCOUNTING HOUSE CO LTD

WeirBank Monkey Island Lane Bray on Thames SL6 2ED

7 August 2023

GRACE TABERNACLE - PENTECOSTAL ASSEMBLIES OF THE WORLD INC

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

	2022	2021
UNRESTRICTED FUNDS £ 155,482 - - 34,337 - 391 -	RESTRICTED FUNDS £ 5,176 4,000 84,783 - - - 89	£ 131,961 28,586 14,100 30,227 24,430 - 1
190,210	94,048	229,305
12,381 94,486 18,152	7,772 - 73,376	46,709 78,580 58,667
125,019	81,148	183,956
65,191 32,806) (	12,900 32,806	45,349 -
32,385	45,706	45,349

GRACE TABERNACLE - PENTECOSTAL ASSEMBLIES OF THE WORLD INC

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

UNRESTRICTED FUNDS £ - 4,213 6,128 2,040	2022 RESTRICTED FUNDS £ - - - 7,772	2021
		£ 559 4,061 4,034 38,055
12,381	7,772	46,709
46,366 6,314 5,379 6,660 1,740 790 8,349 713 1,807 3,139 3,496 625 923 - 120 1,377 2,007 2,633 587 - 1,211 250	- - - - - - - - - - - - - - - - - - - - - -	45,205 4,628 2,119 2,866 - 882 2,712 150 1,117 3,377 3,394 567 885 200 120 1,377 5,444 3,005 82 - 450 -
94,486	-	78,580
88 - 4,200 470 811 7,233 5,350	- 73,376 - - - - -	44,225 3,840 1,900 811 2,042 5,849
18,152	73,376	58,667

GRACE TABERNACLE - PENTECOSTAL ASSEMBLIES OF THE WORLD INC

BALANCE SHEET

31 DECEMBER 2022

	2022	2021
UNRESTRICTED FUNDS £ 24,892 325 59,851 60,176 1,146 7,424 1,408 9,978 50,198 75,090 75,090	RESTRICTED FUNDS £ 1,786,722 - 333 333 - - 1,687,956 1,687,956 1,687,623) ( 99,099 99,099	£ 1,813,536
		954 27,881
		28,835
		885 6,747 1,738,641
		1,746,273
		1,717,438) (
		96,098
		96,098

These financial statements were approved and signed on behalf of the Council of Management

…………………………………………… P. A. REID (Pastor)

…………………………………………… V. REID (Treasurer)

7 August 2023

…………………………………………… DATE

GRACE TABERNACLE - PENTECOSTAL ASSEMBLIES OF THE WORLD INC

NOTES TO THE ACCOUNTS

31 DECEMBER 2022

1 ACCOUNTING POLICIES

Accounting convention:

The financial statements are prepared under the historical cost convention and are in accordance with applicable accounting standards.

Depreciation:

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its estimated useful life, on the following annual bases:

Furniture and equipment Computers Motor vehicles 2 FIXED ASSETS Cost: At 1 January 2022 Additions At 31 December 2022 Depreciation: At 1 January 2022 Charge for the period At 31 December 2022 Net Book Value: At 31 December 2022 At 31 December 2021 3 DEBTORS Prepayments Other debtors 4 CURRENT LIABILITIES Taxes and social security costs Accruals and deferred income Hire purchase creditors Other creditors 5 RESERVES At 1 January 2022 Net incoming resources Apportions At 31 December 2022	: 15% reducing balance : 33.33% on cost : 25% on cost Freehold Land & Motor Buildings Vehicles £ £ 1,786,722 33,395 - - 1,786,722 33,395 - 28,915 - 1,120 - 30,035 1,786,722 3,360 1,786,722 4,480 General Reserve £ 42,705 32,385 75,090 - 75,090	Fixtures Furniture & Equipment £ 48,825 2,628 51,453 29,340 3,317 32,657 18,796 19,485 Restricted Reserve £ 53,393 45,706 99,099 - 99,099	Computer £ 19,212 800 20,012 16,363 913 17,276 2,736 2,849 2022 £ 325 - 325 1,146 7,424 1,408 1,687,956 1,697,934 Total 2022 £ 96,098 78,091 174,189 - 174,189	Total £ 1,888,154 3,428
	1,786,722			1,891,582
	- -			74,618 5,350
	-			79,968
	1,786,722			1,811,614
	1,786,722			1,813,536
				2021 £ 954 -
				954
				885 6,747 4,166 1,734,475
				1,746,273
				Total 2021 £ 50,749 45,349
				96,098 -
				96,098