2022-11-30-accounts - Grace Springs Network

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Registered Charity Number

1110945

GRACE SPRINGS NETWORK

Trustees’ Annual Report

30 November 2022

Trustees’ Annual Report for the period

From 1[st] December 2021 To 30[th] November 2022

Charity name: Grace Springs Network

Charity registration number: 1110945

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	1. The advancement of the Christian religion. 2. Promotion of any charitable purposes for the benefit of the community.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	1. Bible study classes 2. Relief activities 3. Teaching and preaching seminars 4. Publication of magazine and literature
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	Grace Springs Network (formerly Grace Springs Church) has complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission (i.e. public benefit statement). Grace Springs Network was incorporated as a charitable company limited by guarantee, with no share capital on 10th July 2001. The charity is run in accordance with the memorandum of association laid out at that time, and amended on 21st March 2005, 9th June 2005 and 9th August 2005.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference Para 1.38 Policy on grant making Para 1.38

Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	• Preaching and teaching in churches • Publication of magazine and resources • Organising seminars and group meetings • One-to-one help and discipleship

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41
Performance of fundraising activities against objectives set	Para 1.41
Investment performance against objectives	Para 1.41

Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	The charity’s accounts for the period December 2021 to November 2022 were reviewed and approved on 28th August 2023. Total income was £46,020 and total expenditure was £72,619. The income comprised mostly donations from individuals and the funds were used in implementing the objectives of the charity.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The charity does not have a reserves policy.
Amount of reserves held	Para 1.22	Funds that were not allocated were reported as reserves on the balance sheet. The bank balance at the end of the reporting period was £47,150.
Reasons for holding zero reserves	Para 1.22	The charity depends on donations to fund its activities. Only funded projects are executed.
Details of fund materially in deficit	Para 1.24	None
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	None foreseen.

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47
Investment policy and objectives including any social investment policy adopted	Para 1.46
A description of the principal risks facing the charity	Para 1.46
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Memorandum and Articles Incorporated
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Company limited by guarantee
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Appointed by trustees

Additional information (optional) You may choose to include further statements where relevant about:


Policies and procedures adopted for the induction and training of trustees	Para 1.51
The charity’s organisational structure and any wider network with which the charity works	Para 1.51
Relationship with any related parties	Para 1.51
Other

Reference and Administrative details

Charity name	Grace Springs Network
Other name the charity uses
Registered charity number	1110945
Charity’s principal address	PO Box 837 Edgware Middlesex HA8 4TZ

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (if any)
	Olabode Awogbade
	Ayotunde Jones
	Gloria Olorunshola

– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address




Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date
	Olabode Awogbade
	Trustee
	18/09/2023
	18/09/2023

Charity Name No (if any) Grace Springs Network 1110945 Receipts and payments accounts

CC16a

For the period Period start date Period end date To from 01-Dec-21 30-Nov-22

Section A Receipts and payments	Section A Receipts and payments
A1 Receipts	Unrestricted funds to the nearest £	Restricted funds to the nearest £	Endowment funds to the nearest £	Total funds to the nearest £	Last year to the nearest £
General Donations	44,840	-	-	44,840	138,759
Sales	1,180	-	-	1,180	8,508
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
*Sub total*(Gross income for AR)	46,020	-	-	46,020	147,267

A2 Asset and investment sales, (see table).
	-
	-				-
*Sub total*	-				-
*Total receipts* A3 Payments
					147,267

Cost for furtherance of charity’s activ Support costs	i 71,118				180,397
	1,501				7,911
	-				-
	-				-
	-				-
	-				-
	-				-
	-				-
	-				-
**Sub total **	72,619				188,307

A4 Asset and investment purchases, (see table)
	-
	-
**Sub total **	-				-
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
					188,307

	- 26,600				- 41,040
	-				-
	73,750				114,790
	47,150				73,750

Section B Statement of assets and liabilities at the end of the period

CCXX R1 accounts (SS) Categories B1 Cash funds	1 Details *Total cash funds* (agree balances with receipts and payments account(s))	Unrestricted funds to nearest £ 47,150 - - 47,150 OK	27/10/2023 Restricted funds Endowment funds to nearest £ to nearest £ - - - - - - - - OK OK	Endowment funds to nearest £
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				-

Signed by one or two trustees on behalf of all the trustees B5 Liabilities B3 Investment assets B2 Other monetary assets B4 Assets retained for the charity’s own use	Details Details Details Details Loan Signature	Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) BBLS 37,500 - - - - Print Name Olabode Awogbade	Endowment funds to nearest £
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			Current value (optional)
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			Current value (optional)
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			When due (optional)






			Date of approval
		Olabode Awogbade	18/09/2023

CCXX R2 accounts (SS)

27/10/2023

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Charity Name Grace Springs Network (a company limited by guarantee)	Charity Name Grace Springs Network (a company limited by guarantee)	Charity Name Grace Springs Network (a company limited by guarantee)

30 November 2022	Charity no (if any)	1110945

10

I report to the trustees on my examination of the accounts of the above Company for the year ended 30[th] November 2022.

Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation of basis of report 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 2011 Act, and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 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, which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 130 of the Act or
the accounts do not accord with the accounting records

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

Signed: Name: Relevant professional qualification(s) or body (if any): Address:	Date:
		23/10/2023

	Anthonia Faponnle

	FCCA Association of Chartered Certified Accountants

	30 Eden Way, London E3 2JD

October 2018

IER

Section B Disclosure

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

October 2018

IER