2021-12-31-accounts - Grace Community Church (Stevenage)

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REGISTERED CHARITY NUMBER: 1108473

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

GRACE COMMUNITY CHURCH (STEVENAGE)

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

		Page
Report of the Trustees	1	to	5
Independent Examiner's Report		6
Statement of Financial Activities		7
Statement of Financial Position		8
Notes to the Financial Statements	9	to	17

GRACE COMMUNITY CHURCH (STEVENAGE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Background

Grace Community Church was formed from a merger between City Church and Hydean Way Baptist Church in October 2004. The trust was formed in March 2005.

In March 2009 the church, via the trust, obtained a mortgage to purchase a building with grounds in Hydean Way, Stevenage at which point the Trust became responsible for its ongoing maintenance and development.

Grace Community Church is a member of the Catalyst family of churches (which is a part of Newfrontiers), and a member of Churches Together in Stevenage (CTiS)

OBJECTIVES AND ACTIVITIES

Objectives and aims

The promotion of the Christian Faith by establishing, maintaining and supporting Christian Fellowships, Missionaries and other Christian workers.

Page 1

GRACE COMMUNITY CHURCH (STEVENAGE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

ACHIEVEMENT AND PERFORMANCE

Review of Activities & Achievements 2021

When planning activities the elders and trustees give due regard to the Charity Commission's guidance on public benefit and, in particular, the specific guidance to charities for the advancement of religion. We aim to enable ordinary people to live out their faith as part of the community of Stevenage and the neighbouring villages. We also engage in specific activities through which to show the love of God to others in the local community and beyond.

The year began with Government Covid 19 restrictions still in place. This meant that the usual in-person meetings at the Church Building including Sunday morning services, Youth Ministry and Community outreach and social action activities continued to be suspended. Sunday morning meetings continued online and the Zoom video conferencing platform was used for other meetings.

With the church building effectively closed, the opportunity was taken to carry out some maintenance and upgrade activities. The most significant of these was the replacement of both final exit door sets to the building with units that were compliant with fire safety regulations.

With the partial lifting of restrictions in the Spring, a decision was made to return to in-person meetings on Sunday mornings, the first such meeting being Easter Sunday. In order to meet the Government guidelines still in place, the capacity of the Main Hall was reduced to 60 seats in order to maintain physical distancing, and this in turn meant that two shorter meetings were held to meet demand. At the same time, investments were made in equipment and software to support this way of operating. This included:

Supplying hand sanitizer stations at various points in the building. These have been left permanently in place
In-house manufacture of mobile Perspex screens for people leading meetings to stand behind
Camera plus hardware and software to enable meetings to be filmed and live-streamed via the internet to church members unable or unwilling to attend in person. This has been maintained as a permanent feature, providing a better 'catch-up' recording of church meetings and extending the reach of the church via the internet
Improving the broadband speed to enable live-streaming
Setting up a church YouTube channel to make video recordings widely available.
Introducing 'ChurchSuite' church management software. This was being considered for some time previously, but the facility to be able to manage bookings for meetings so that numbers could be controlled accelerated its introduction. 'ChurchSuite' is now increasingly being used to manage data and administrative tasks.

By September, with Covid restrictions lifted, the church returned to one larger meeting on Sunday mornings and in-person meetings for all the various internal and external activities of the church gradually resumed. The various outreach activities and social action projects included:

Doorway - ministering to the spiritual needs of adults with learning difficulties.
Coffee Shop - open to the community and serving inexpensive refreshments and light lunches every Friday in term time.
Grace's Space - a monthly Saturday club to support children who have been diagnosed with Autism Spectrum Disorder and their families.
The Journey Place - a weekly drop-in, providing a supportive community for vulnerable local people. Many of the people using this service have a history of mental ill health, learning difficulties, homelessness, etc. A hot meal is provided each session at minimal cost to attendees.

In October a new activity called 'Mainly Music' was started. This is a music-based learning and development activity for babies/toddlers and their parents/carers. It also provides opportunity for social interaction over refreshments, which were provided by the church's 'Coffee Shop' team. This seemed to meet a need within the Stevenage Community as it was quickly filled and by the end of the year had a waiting list.

Throughout the year the church supported a local foodbank by collecting donations and by church members helping to serve. We also continued to be involved in supporting overseas mission and social care activities with Newfrontiers and others, including:

Himalayan Inland Mission, India.
Light for Life Foundation, Bulgaria. (Support ended July 2021)
Christian Faith Tabernacle Churches, Zimbabwe.

Page 2

GRACE COMMUNITY CHURCH (STEVENAGE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

A Newfrontiers' church in Valencia. (Support ended 31st December 2021)
A family supporting refugees in Greece (through Catalyst).

In summary, 2021 was another strange year due to Covid 19 and Government imposed restrictions, and activities were significantly curtailed for a large part of it. However, by the end of it church life was returning to some sort of normality.

FINANCIAL REVIEW

Finance Review 2021

These are the sixteenth set of accounts for a full calendar year.

A fairly conservative budget was set at the beginning of the year due to the uncertainties surrounding Covid 19 restrictions. However, income not only held up well throughout the year but exceeded budget by a little over £27k (or 23%). This was largely due to increased giving from church members, which represented 81% of the total. Most of the remaining income came from tax reclaim through Gift Aid/GASDS

The Trust continued to expend resources in five main areas:

1. Property running costs.

Management and administration. This included the salary of a full time elder/pastor, a part-time staff worker, a part-time administrator, part-time admin assistant/bookkeeper and a part-time caretaker. The Trust also continued to pay a pension to a retired pastor.
Funding of Church ministries and activities.
Mission giving to overseas and external organisations. (All giving received for specified missionary work is held in restricted funds).
Special projects. This included Building improvements for fire safety and the purchase of equipment to enable live streaming of meetings over the internet.

Expenditure was less than budget because of Covid restrictions affecting items 1 and 3, and this caused a small surplus to be generated for the year. Item 5 was funded from savings.

Reserves policy

The Trustees keep a minimum of £20,000 as a contingency float for emergencies and to secure a reserve to pay all salaries for six months in the event that donations cease. At the end of 2019 the Trustees agreed to increase the second full time Elder`s reserve to £30,000. This, along with the £20,000 contingency, was invested in a saving account with Kingdom Bank in 2020.

Risk Review

The Trustees are conscious that the work can only continue with the financial support of the members and congregation giving by collection and donation. Without this support the work would be unable to continue.

Page 3

GRACE COMMUNITY CHURCH (STEVENAGE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

FUTURE DEVELOPMENTS

In 2022 it is planned to:

Continue to provide regular church activities.
Continue to seek to grow the church.
Resume planning for the employment of a second full time elder
Continue to emphasise and encourage prayer.
Continue to develop leadership at all levels within the church.
Continue to promote Christian discipleship within the church.
Continue to support our existing outreach and social action projects
Start a clothes bank for children aged 3 to 18 (complementing an existing clothes bank for children aged 0-3 run by
Vineyard Church, Stevenage)
Continue to support overseas missions.
Continue to put an emphasis on supporting and developing the younger age groups in the church.
Refurbish the church hall and adjoining rooms. These have had little spent on them for many years and it will be a major undertaking to renovate and update them with latest technology and improved facilities. It is planned that eventually we will begin hiring out rooms in the building, both to serve the local community and to generate revenue.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The trust is a charity registered on 7 March 2005 (Charity No. 1108473). Its governing document is the Declaration of Trust, dated 10 February 2005.

Charitable objectives

As a Christian congregation, Grace Community Church has the purpose of promoting the Christian religion.

Recruitment and appointment of new trustees

There were no resignations during the course of the year and no new appointments. Therefore, the composition of the Trustees remained unchanged.

Organisational structure

The spiritual government and leadership of the church fellowship is carried out by the church's team of elders. The trustees are responsible for the proper management and administration of the trust's funds, assets and activities in accordance with the provision of the trust deed and in furtherance of the trust's objectives. Three elders have served as trustees in 2021.

The trust deed requires the trustees to meet at least twice every calendar year. In 2021 the trustees held a formal meeting on four occasions: two using the online meeting platform Zoom and two in person. Jon Woodrow continued as Chairman of the Trustees throughout the year.

The trustees have a secretary to the trustees who is not a trustee.

The trustees continued to employ a full time elder/pastor, a part-time administrator, a part time admin assistant/bookkeeper, a part-time caretaker and a part-time staff worker (assisting the full-time elder).

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1108473

Principal address

Hydean Way Stevenage Hertfordshire SG2 9XJ

Page 4

GRACE COMMUNITY CHURCH (STEVENAGE)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees

P Watkins J Scott J C G Woodrow J V Sugden D Horne Mrs J Kuffour Mrs T Dance Mrs L Scott

Independent Examiner

Neil Harding FCA Bradshaw Johnson Chartered Accountants Croft Chambers 11 Bancroft Hitchin Hertfordshire SG5 1JQ

Approved by order of the board of trustees on 13 September 2022 and signed on its behalf by:

J C G Woodrow - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRACE COMMUNITY CHURCH (STEVENAGE)

Independent examiner's report to the trustees of Grace Community Church (Stevenage)

I report to the charity trustees on my examination of the accounts of Grace Community Church (Stevenage) (the Trust) for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Neil Harding FCA Bradshaw Johnson Chartered Accountants Croft Chambers 11 Bancroft Hitchin Hertfordshire SG5 1JQ

7 October 2022

Page 6

GRACE COMMUNITY CHURCH (STEVENAGE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 139,942 Other trading activities 3 4,453 Total 144,395 EXPENDITURE ON Charitable activities Grace Community Church 135,161 NET INCOME 9,234 RECONCILIATION OF FUNDS Total funds brought forward 111,587 TOTAL FUNDS CARRIED FORWARD 120,821	Restricted funds £ 29,354 - 29,354 17,741 11,613 455,015 466,628	31.12.21 31.12.20 Total Total funds funds £ £ 169,296 148,644 4,453 1,491 173,749 150,135 152,902 126,044 20,847 24,091 566,602 542,511 587,449 566,602	31.12.21 31.12.20 Total Total funds funds £ £ 169,296 148,644 4,453 1,491 173,749 150,135 152,902 126,044 20,847 24,091 566,602 542,511 587,449 566,602
			150,135
			126,044 24,091 542,511
			566,602

The notes form part of these financial statements

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GRACE COMMUNITY CHURCH (STEVENAGE)

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2021

Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS	Unrestricted funds £ - 3,185 131,993 135,178 (14,357) 120,821 120,821 120,821	Restricted funds £ 435,426 - 31,202 31,202 - 31,202 466,628 466,628	31.12.21 Total funds £ 435,426 3,185 163,195 166,380 (14,357) 152,023 587,449 587,449 120,821 466,628 587,449	31.12.20 Total funds £ 438,450 13,728 122,797 136,525 (8,373) 128,152 566,602 566,602 111,587 455,015 566,602

The financial statements were approved by the Board of Trustees and authorised for issue on 13 September 2022 and were signed on its behalf by:

L Scott - Trustee

J C G Woodrow - Trustee

The notes form part of these financial statements

Page 8

GRACE COMMUNITY CHURCH (STEVENAGE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Grace Community Church (Stevenage) meets the definition of a public entity under FRS 102.

The accounts are prepared in pounds sterling.

Income

All income is included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
Investment income is recognised on a receivable basis.

Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes attributable VAT which cannot be recovered, and is reported as part of the expenditure to which it relates:

Costs of generating funds comprise of the costs associated with attracting voluntary income through fundraising. - Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Tangible fixed assets

Depreciation is calculated to write off the cost of each fixed asset over its expected useful life. The annual rates used, which are consistent with last year are:-

Building - over 50 years Land - not depreciated

Minor fixed asset additions are not capitalised, instead they are expensed via the Statement of Financial Activities.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through terms of an appeal.

continued...

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GRACE COMMUNITY CHURCH (STEVENAGE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Short term debtors and creditors

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.

3. DONATIONS AND LEGACIES

Gift aided and other donations Gift aid receivable OTHER TRADING ACTIVITIES Premises usage donations Other income	31.12.21 £ 144,559 24,737 169,296 31.12.21 £ 670 3,783 4,453	31.12.20 £ 122,075 26,569	31.12.20 £ 122,075 26,569
		148,644
		31.12.20 £ 400 1,091 1,491
			1,491

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

continued...

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GRACE COMMUNITY CHURCH (STEVENAGE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

5. STAFF COSTS

2021	2020	2020
£	£
63,348	62,670
-	659
3,488	3,460

66,836	66,789

		150,135
		126,044 24,091 542,511
		566,602

continued...

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GRACE COMMUNITY CHURCH (STEVENAGE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

7. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
COST At 1 January 2021 and 31 December 2021 DEPRECIATION At 1 January 2021 Charge for year At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020	Freehold property £ 453,570
	15,120 3,024
	18,144
	435,426
	438,450

Included in cost or valuation of land and buildings is freehold land of £302,380 (2020 - £302,380) which is not depreciated.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

8.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.12.21	31.12.20
		£	£
	Prepayments and accrued income	3,185	13,728
9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.12.21	31.12.20
		£	£
	Trade creditors	443	556
	Other creditors	13,914	7,817
		14,357	8,373

continued...

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GRACE COMMUNITY CHURCH (STEVENAGE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

10. MOVEMENT IN FUNDS

Unrestricted funds General fund Contingency Fund Second Full Time Elder Fund Restricted funds Acts 2 v 45 Miscellaneous Property Fund Youth Fund Special Projects TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Mission Funds Acts 2 v 45 Miscellaneous Property Fund Special Projects TOTAL FUNDS	At 1.1.21 £ 61,587 20,000 30,000 111,587 1,980 965 438,450 1,120 12,500 455,015 566,602 Incoming resources £ 144,395 13,472 1,246 886 - 13,750 29,354 173,749	Net movement At in funds 31.12.21 £ £ 9,234 70,821 - 20,000 - 30,000 9,234 120,821 557 2,537 330 1,295 (3,024) 435,426 - 1,120 13,750 26,250 11,613 466,628 20,847 587,449 Resources Movement expended in funds £ £ (135,161) 9,234 (13,472) - (689) 557 (556) 330 (3,024) (3,024) - 13,750 (17,741) 11,613 (152,902) 20,847

continued...

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GRACE COMMUNITY CHURCH (STEVENAGE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds General fund Contingency Fund Second Full Time Elder Fund Restricted funds Acts 2 v 45 Miscellaneous Property Fund Youth Fund Special Projects TOTAL FUNDS	At 1.1.20 £ 51,796 20,000 20,000 91,796 1,063 7,058 441,474 1,120 - 450,715 542,511	Net movement in funds £ 19,791 - - 19,791 917 (6,093) (3,024) - 12,500 4,300 24,091	Transfers between funds £ (10,000) - 10,000 - - - - - - - -	At 31.12.20 £ 61,587 20,000 30,000
				111,587 1,980 965 438,450 1,120 12,500
				455,015
				566,602

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Mission Funds Acts 2 v 45 Miscellaneous Property Fund Special Projects TOTAL FUNDS	Incoming resources £ 127,167 8,791 1,677 - - 12,500 22,968 150,135	Resources Movement expended in funds £ £ (107,376) 19,791 (8,791) - (760) 917 (6,093) (6,093) (3,024) (3,024) - 12,500 (18,668) 4,300 (126,044) 24,091	Resources Movement expended in funds £ £ (107,376) 19,791 (8,791) - (760) 917 (6,093) (6,093) (3,024) (3,024) - 12,500 (18,668) 4,300 (126,044) 24,091
			4,300
			24,091

continued...

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GRACE COMMUNITY CHURCH (STEVENAGE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Contingency Fund Second Full Time Elder Fund Restricted funds Acts 2 v 45 Miscellaneous Property Fund Youth Fund Special Projects TOTAL FUNDS	At 1.1.20 £ 51,796 20,000 20,000 91,796 1,063 7,058 441,474 1,120 - 450,715 542,511	Net movement in funds £ 29,025 - - 29,025 1,474 (5,763) (6,048) - 26,250 15,913 44,938	Transfers between funds £ (10,000) - 10,000 - - - - - - - -	At 31.12.21 £ 70,821 20,000 30,000
				120,821 2,537 1,295 435,426 1,120 26,250
				466,628
				587,449

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Mission Funds Acts 2 v 45 Miscellaneous Property Fund Special Projects TOTAL FUNDS General funds	Incoming resources £ 271,562 22,263 2,923 886 - 26,250 52,322 323,884	Resources Movement expended in funds £ £ (242,537) 29,025 (22,263) - (1,449) 1,474 (6,649) (5,763) (6,048) (6,048) - 26,250 (36,409) 15,913 (278,946) 44,938	Resources Movement expended in funds £ £ (242,537) 29,025 (22,263) - (1,449) 1,474 (6,649) (5,763) (6,048) (6,048) - 26,250 (36,409) 15,913 (278,946) 44,938
			15,913
			44,938

The general funds are the unrestricted funds available for the use of the Church.

The contingency fund is a designated fund for emergencies and a reserve to allow salaries to be paid should donations cease.

Page 15

continued...

GRACE COMMUNITY CHURCH (STEVENAGE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

10. MOVEMENT IN FUNDS - continued

The second full time elder fund is a designated fund for possible use towards paying a second full time Elder's salary.

Restricted funds

Each week we collect money for specific missionary and aid organisation which we support as a Church. These vary each week and rotate on a published calendar. This money is then topped up from funds and sent to the organisation. We show this in the accounts as 'Restricted Missionary Giving' to show that we are holding that money and sending it straight out again. There is one restricted fund that is different, it is called the ACTS 2v45 Fund, it represents the balance of a special monthly offering designed to provide funds to be used at the discretion of the Elders. Tax is not reclaimed on any money given to this fund as it is used primarily to meet the needs of individual members of the church.

Purpose of each restricted fund

Mission Funds

Comprised within this heading are Catalyst, H.I.M offerings, Light for Life, Tearfund, and Zimbabwe. The purposes of these are:

Catalyst (a part of Newfrontiers) - For donations to Newfrontiers, the group of Christian Churches to which we are affiliated and the relief work they are doing in troubled countries.
H.I.M offerings - for donations to the Himalayan Inland Mission - a Christian organisation in India who run an orphanage and give help to the disadvantaged. We have personal contact with the Directors of this organisation.
Light for Life donations - For donations to the "Light for Life" organisation, a UK based organisation, supporting Christian work in Bulgaria helping people with disabilities. We have personal contact with the Directors and staff of this organisation, with one of their staff having been a member of Grace Community Church.
Tearfund - For donations to Tearfund, an international Christian relief agency.
Zimbabwe - For the support of Christian work in Zimbabwe and to provide money for famine relief, channelled through a personal contact with Zekia Moyo.
Greece - To support Jonathon and Sarah Crowhurst and family who are working with refugees in Greece..

Acts 2 v 45 offerings

For members of the church who have financial needs - used at Elders' discretion. No gift aid is claimed back on any donations to this fund.

Property Fund

A restricted fund set up for the land and buildings and donations received towards the cost of the Hydean Way Worship Centre and other property related costs.

Youth Fund

The church received a legacy from an ex church member. This bequest was specifically given to fund Youth activity.

Special Projects

Page 16

continued...

GRACE COMMUNITY CHURCH (STEVENAGE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

10. MOVEMENT IN FUNDS - continued

A fund set up to receive donations specifically given for special projects within Grace Community Church.

Miscellaneous fund

A restricted fund that comprises Journey Place, Clothes Bank and other miscellaneous specific receipts. The purposes of these are:

Journey Place - The Journey Place is a weekly drop-in which is held on the church premises each Tuesday. It's open to all poor and disadvantaged who would appreciate being part of a supportive community. There are teas & coffees and a low-cost lunch, along with various activities, and there's always a listening ear for anyone who needs it.
Clothes Bank - A monthly drop-in to provide clothes to needy families with 3 - 18 year-old children.

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

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