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2021-08-31-accounts

05554986

Grace Church Dulwich (A company limited by guarantee)

Report and Financial Statements For the year ending 31 August 2021

Charity number 1111740 Company number 05554986

Grace Church Dulwich (A company limited by guarantee)

Financial Statements for the year ending 31 August 2021

Contents Page
Report of the Trustees 2
Report of the Independent Examiner 7
Statement of Financial Activities 8
Balance Sheet 9
Notes forming part of the financial statements 10

1

Grace Church Dulwich

Report of the Trustees for the year ending 31 August 2021

Reference and Administrative Information

Charity name: Grace Church Dulwich Charity registration number: 1111740 Company registration number: 05554986 Registered Office 135 Sydenham Park Road Sydenham London SE26 4LP

Directors of the Company and Trustees for the purpose of charity law Rev. S Dowdy Chairman / Senior Minister Mr B Jones Churchwarden Mr A Neden Treasurer Mr A Burke (resigned 2 February 2021) Dr N Hallett (resigned 2 February 2021) Mrs L Nelson Mr W Nettleford (appointed 2 February 2021) Mrs H Simmons (appointed 2 February 2021)

Secretary

Mrs V Widdows

Independent Examiner

Ajay Rajani FCIE, Stewardship, 1 Lambs Passage London EC1Y 8AB

Bankers

NatWest Bank, St Paul’s Branch, Juxon House, 98 St Paul’s Churchyard, London EC4M 8BU

Structure, Governance and Management

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 6 September 2005 and registered as a charity as from that date. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1 each.

Recruitment and Appointment of the Church Council, Directors of the company and Trustees for the purposes of charity law

Under the company’s Memorandum and Articles of Association the greater of (i) two or (ii) one third of the members (aside from the Senior Minister and Wardens who serve ex-officio) shall retire at each Annual General Meeting in rotation. Appointments (other than the initial appointment of the first members of the Church Council) or re-appointments shall be by election at the Annual General Meeting, with the approval of the Senior Minister and for a fixed period of three years.

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Grace Church Dulwich

Report of the Trustees for the year ending 31 August 2021

The Directors of the company are also charity trustees for the purposes of charity law. Trustees are appointed for a fixed term of three years (aside from the Senior Minister and Wardens who serve ex-officio). The appointment or re-appointment of any Trustee is by the remaining Trustees and requires the prior written approval of the Council of Reference and the Church Council.

Objectives and Activities

The objects of the company are the advancement of the Christian Faith.

We are an Anglican Evangelical church who meet in different locations in South East London. People of all ages and stages and backgrounds meet at Grace Church, committed to learning from the Bible as we seek actively to love and serve Jesus Christ. Visitors are always welcome, particularly all those investigating the claims of Jesus or looking for a church family to make their own.

What sort of church are we?

We are Christian - Grace Church Dulwich is a mainstream Christian church, teaching what the vast majority of Christians throughout the world have believed for centuries. That is we believe in one God who has revealed Himself supremely in His Son, Jesus Christ. We can know God as our Father by placing our trust in Christ’s death on the cross which is the only way we can be reconciled to God. The work of God the Holy Spirit is to draw people to faith in Christ, giving us new birth, and new spiritual life as He makes us more like Christ.

We are Evangelical - We believe that the Bible is God’s word and is our final authority in all matters of faith and life. We seek to listen to and obey God’s word, applying it to every part of life. Clear and relevant Bible teaching is at the heart of all our main meetings. We seek to build networks and friendship with other churches who share our convictions about the Bible and about the gospel.

We are Anglican - We affirm with the 16th century Anglican Reformers the great truths which were rediscovered at the time of the Reformation, as expressed in the 39 Articles and Book of Common Prayer: the sovereignty of God in salvation, justification by faith alone, salvation in Christ alone. We are a Church of England church with a Bishop’s Mission Order. But our unity is in Christ not in any one denomination and as such people from any denomination or none are welcome.

Our mission statement

Our overall purpose is to make disciples of Jesus Christ.

We believe that Jesus’ Great Commission of Matthew 28:16-20 is the mission of the church: to go into the world and make disciples by declaring the gospel of Jesus Christ in the power of the Spirit, and gathering these disciples into churches that they might worship and obey Jesus Christ both now and in eternity- to the glory of God the Father.

We seek to achieve this overall purpose of making disciples as we;

This leads to 3 essentials around which the ministry of Grace Church Dulwich is built;

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Grace Church Dulwich

Report of the Trustees for the year ending 31 August 2021

Achievements and Performance

The principal activities of the company are:

These activities are undertaken in and around the Dulwich area of South-East London.

In planning these activities the Trustees have had regard to the guidance on public benefit issued by the Charity Commission. All of these activities have welcomed newcomers from the local community throughout the year.

For the year the principal mission partners were Holy Redeemer Streatham; through Crosslinks, a Minister and his family working in Naples, Italy, an individual working with Calvary Church Castlebar, Eire; and, through Grace Baptist Mission, the principal (and his family) of Proclamation Institute Zambia.

Financial Review

The Company is dependent for funding solely on donations from members of the Company and other individual donors.

In the year to 31 August 2021, the Company recorded a surplus of £41,157 (2020: £40,962) on unrestricted funds from its usual activities. In addition the charity has reported a gain of £55,000 on revaluing its social investment and so this year’s total surplus on unrestricted funds is £96,157. The surpluses in 2021 and 2020 have continued restoring the historic reserves. Supporters have continued to give generously, partly in anticipation of increased ministry costs in 2021/22. Although there were periods due to COVID 19 restrictions which impacted our ability to meet physically this did not impact our income. At the same time our venue costs reduced, more than covering the relatively small additional costs of meeting on line.

In 2021 the Senior Minister of the Company spent a proportion of his time in respect of St Botolph’s Aldersgate and a proportion in respect of the Company. During the financial year ended 31 August 2021 the agreed split was 15%/85% until 11 July 2021 at which point he stepped down from St Botolphs to dedicate all of his time to Grace Church Dulwich (2020 - 15%/85%). The costs associated with the Senior Minister were shared in approximately the

4

Grace Church Dulwich

Report of the Trustees for the year ending 31 August 2021

same proportion between St Botolph’s and the Company. Apart from the involvement of the senior minister in both ministries there are no other connections or formal relationships between the Company and St Botolph’s.

These financial statements record only the financial transactions – they do not and it would not be possible to record all the voluntary work done and resources provided by many to support the charity and its objectives.

Reserves

The company does not currently own any building or other significant fixed assets (aside from the investment in a residential property in the Brockley area) nor is it currently contemplating any longer term financial projects such as would require the establishment of substantial reserves. Consequently the Trustees consider that whilst this remains the case, a prudent readily realisable reserve would be to have unrestricted net current assets of somewhere between £140,000 to £200,000, enough to cover approximately rental obligations, six months of expected other expenditure, and potential expansion of ministry. The charity ended the year with unrestricted net current assets of just under £180,000, which is within the range set by the policy for holding reserves.

Responsibilities of Trustees

The directors are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

  5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible

5

Grace Church Dulwich

Report of the Trustees for the year ending 31 August 2021

for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Stewardship Services were appointed as reporting accountants and one of their employees serves as the company's independent examiner.

This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees on 30 January 2022 and signed on their behalf by:

Mr A Neden FCA (Trustee)

6

Grace Church Dulwich

Independent Examiner's Report to the Trustees of Grace Church Dulwich

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021 on pages 8 to 19 following which have been prepared on the basis of the accounting policies set out on page 10.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited 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

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a Fellow of the Association of Charity Independent Examiners, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Ajay Rajani FCIE Fellow of the Association of Charity Independent Examiners

Stewardship 1 Lambs Passage London EC1Y 8AB

31 January 2022

7

Grace Church Dulwich

Statement of Financial Activities (including Income & Expenditure Account) for the year ending 31 August 2021

Unrestricted Restricted Total Unrestricted Restricted Restricted Total
Funds Funds Funds Funds Funds Funds
2021 2021 2021 2020 2020 2020
Notes £ £ £ £ £ £
Income and
endowments from:
Donations 2 266,321 50 266,371 240,981 1,045 242,026
Interest receivable 75 - 75 121 - 121
Charitable activities 3 1,354
 -
 1,354
 3,476
 - 3,476
Total income and 267,750 50 267,800 244,578 1,045 245,623
endowments
Expenditure on
charitable
activities:
Grant payments 4 28,500 1,095 29,595 26,982 - 26,982
Activities relating 5 193,442 - 193,442 171,772 - 171,772
directly to the church
Governance costs 6 4,651
 -
 4,651
 4,862
 - 4,862
Total expenditure 226,593
 1,095
 227,688
 203,616
 - 203,616
Net gains on
investments 55,000 - 55,000 - - -
Net incoming / 96,157 (1,045) 95,112 40,962 1,045 42,007
(outgoing)
resources
Total funds brought 208,065 1,045 209,110 167,103 - 167,103
forward
Total funds carried 304,222 - 304,222 208,065 1,045 209,110
forward

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

8

Grace Church Dulwich

Balance Sheet as at 31 August 2021

2021 2020
Notes £ £ £ £
Fixed assets
Social investments 11 125,000 70,000
Current assets
Stock 12 521 521
Debtors 13 53,011 46,886
Cash at bank and in hand 135,289
 99,002
188,821 146,409
Creditors: amounts falling due within one year 14 (9,600)
 (7,299)
Net current assets 179,222
 139,110
Net assets 304,222
 209,110
Unrestricted funds
Fair value reserve arising on
revaluation of social investment 11 55,000 -
Balance of unrestricted funds 249,222 208,065
304,222 208,065
Restricted funds -
1,045
Total 15 304,222
 209,110

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Trustees on 30 January 2022 and were signed on its behalf by:

Mr A Neden FCA (Trustee) Company Number: 05554986, Charity Number: 1111740

9

Grace Church Dulwich

Notes forming part of the Financial Statements for the year ending 31 August 2021

1 Accounting Policies

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found in the Directors’ Report.

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The principles adopted in the preparation of the financial statements are set out below.

The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b. Fund accounting

Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

c. Income and endowments

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

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Grace Church Dulwich

Notes forming part of the Financial Statements for the year ending 31 August 2021

Income from donations includes recoverable gift aid, which is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from events organised by the charity.

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services to beneficiaries. It comprises expenditure on activities undertaken directly and by grant funding to other institutions and individuals. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and includes the fees of the independent examiner.

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £2,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged: Computer software and hardware 2 years Fixtures and fittings 5 years

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Grace Church Dulwich

Notes forming part of the Financial Statements for the year ending 31 August 2021

Stock is valued at the lower of cost and net realisable value.

Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term (unless another systematic basis is more representative of use).

The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive).

12

Grace Church Dulwich

Notes forming part of the Financial Statements for the year ending 31 August 2021

The directors do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

2 Income from donations

ncome from donations
Unrestricted Restricted Total funds Total funds
funds funds
2021 2021 2021 2020
£ £ £ £
Monetary donations upon which 231,625 - 231,625 212,249
income tax was reclaimable (and
including this tax)
Other monetary donations 34,696 50
 34,746 29,777
266,321 50 266,371 242,026

During the year the charity received donations totalling £9,352 (2020: £15,800) from related parties (which includes the trustees, any other members of key management and anyone closely connected to them).

3 Income from charitable activities

Bookstall sales
Contributions to the cost of events		 2021
£
-
1,354
1,354		 2020
£
144
3,332
3,476

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Grace Church Dulwich

Notes forming part of the Financial Statements for the year ending 31 August 2021

4 Grant payments

2021
£
Grants to organisations to support
UK and overseas mission:
Holy Redeemer Streatham
5,000
Crosslinks (re a family working
in Naples)
5,750
Crosslinks (re a church worker in
Eire)
6,000
Grace Baptist Mission (re
Proclamation Institute Zambia)
4,000
UCCF (re an individual working
with local colleges)
-
Crosslinks central support
-
Catford Christian association
-
London City Mission – Webber
Street day centre
1,095
Proclamation Trust (re a bursary
supporting Bridge Church
Peckham)
-
Crosslinks (re Christ Central
Soweto)
4,000
Southwark diocese support
2,000
Grants to individuals to support UK
and overseas mission:
Roger Carswell talks
1,750
______
29,595

5
Activities relating directly to the church
2021
£
Staff salary and directly related
costs
92,598
Staff accommodation costs
69,605
Venue related costs
18,536
Other ministry costs
8,842
Other costs
3,861
Cost of items sold on the bookstall
-

193,442
 2020
£
3,000
5,750
6,000
4,000
-
1,232
-
-
3,000
4,000
-
-
______
26,982

2020
£
89,421
54,870
15,334
8,762
2,892
493
171,772

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Grace Church Dulwich

Notes forming part of the Financial Statements for the year ending 31 August 2021

6 Governance costs

overnance costs
2021 2020
£ £
Legal, accountancy and corporate 4,651 4,862
fees and insurance

7 Net Incoming Resources for the Period

This is stated after charging: Year ending 31 Year ending 31
August 2021 August 2020
£ £
Depreciation 0 0
Independent examiner’s fee 1,500 1,500

In addition to the above fee for examining the accounts, the company paid Stewardship £688 (2020: £659) for payroll bureau services.

8 Staff costs and trustee remuneration

Staff costs were as follows:

taff costs were as follows:
Year ending 31 Year ending 31
August 2021 August 2020
£ £
Salaries and wages 78,424 74,875
Social security costs - -
Employers pension contributions 14,174
 14,546
Total 92,598
 89,421

Excluding the Senior Minister (who is not employed directly by the charity) the average monthly number of employees during the year was 3 (2020: 3); this equates to 1.9 (2020: 1.9) full time equivalent staff. Most of the charity's activities are carried out by volunteers.

The company’s key management comprise its directors. Total employment benefits payable to key management for the year were as follows:

Wages and Employer
salaries pension Total
contributions
To Rev. S Dowdy, who is a trustee:
In the year ended 31 August 2021 29,546 6,843 36,389
In the year ended 31 August 2020 25,996 7,464 33,460

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Grace Church Dulwich

Notes forming part of the Financial Statements for the year ending 31 August 2021

Rev. S Dowdy served as the charity’s Senior Minister and received the above payments for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity’s governing document. These payments represent the charity’s 85% share of the employment costs paid by St Botolph’s Aldersgate, up until 11 July 2021, from which date the charity is bearing 100% of the employment costs.

In addition the charity incurred expenditure totalling £33,134 (2020: £31,936) in respect of the customary provision of accommodation to the Senior Minister so that he could better perform his duties.

No other trustees received employment benefits in either the current or preceding year. No staff received salaries at a rate of more than £60,000 per annum.

Except for the reimbursement of expenses incurred when acting as agent for the charity, or incurred when undertaking employment and clergy duties, no expenses were paid to (or for) the trustees.

9 Related party transactions

During the year:

10 Tangible Fixed Assets

Fixtures
and fittings
Computer
software
and
hardware
£
£
Cost
At 1 September 2020
11,850
2,711
Additions
-
-

At 31 August 2021
11,850
2,711

Accumulated depreciation
At 1 September 2020
11,850
2,711
Charge for the year
-
-

At 31 August 2021
11,850
2,711

Net book value at 31 August 2021
and at 31 August 2020
-
-		 Total
£
14,561
-

14,561

14,561
-

14,561

-

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Grace Church Dulwich

Notes forming part of the Financial Statements for the year ending 31 August 2021

11 Social investments

Residential property
2021 2020
£ £
Cost brought forward 70,000 70,000
Gain on valuation at fair value 55,000 -
Valuation carried forward 125,000 70,000

The social investment referred to above comprises a 15.38% interest in a residential property at 20 Barriedale, London, which was acquired in 2012. The investment was made to help fund the provision of accommodation to the senior minister of Grace Church Brockley; no rent is receivable on the investment. Previously the company was unable to reliably determine the fair value of its interest in the above residential property and the property was included at cost less impairment. However this property was under offer in January 2022 and, in these accounts, the charity’s share of the expected proceeds have been used to estimate the property’s fair value at 31 August 2021.

12
Stock
Books for resale
13
Debtors
Income tax recoverable
Other debtors
Prepayments
14
Creditors: Amounts Falling Due within One Year
Trade creditors
Taxation and social security costs
Accruals		 2021
£
521

2021
£
46,325
-
6,686
53,011
2021
£
-
-
9,600

9,600
 2020
£
521

2020
£
42,450
-
4,436
46,886
2020
£
-
-
7,299

7,299

17

Grace Church Dulwich

Notes forming part of the Financial Statements for the year ending 31 August 2021

15 Movements in funds

Movements in funds
At 1 Incoming Outgoing At 31
September Resources Resources August 2021
2020
£ £ £ £
Restricted funds:
Christmas appeal
1,045		 50 1,095 -
Unrestricted funds
208,065		 322,750 226,593 304,222
Total funds
209,110		 322,800
 227,688 304,222
n the previous year the movements on the charity’s funds were as follows
At 1 Incoming Outgoing At 31
September Resources Resources August 2020
2019
£ £ £ £
Restricted funds:
Christmas appeal
-		 1,045 - 1,045
Unrestricted funds
167,103		 244,578 203,616 208,065
Total funds
167,103		 245,623 203,616 209,110

In the previous year the movements on the charity’s funds were as follows

As at 31 August 2021 all of the company’s assets and liabilities were in respect of unrestricted funds. As at 31 August 2020, except for cash of £1,045 held by the restricted Christmas appeal fund, the company’s assets and liabilities were entirely in respect of unrestricted funds.

Purpose of Restricted Funds

Christmas Appeal As a result of appeals over Christmas, donations were received for London City Mission for the work of the centre in Webber Street working with the homeless.

16 Operating lease commitments

The company has entered into operating leases on certain properties. Commitments for future minimum rental payments are shown below:

inimum rental payments are shown below:
2021 2020
£ £
Payments falling due:
Within one year 98,364 73,728
Between one and five years 51,750 24,500

These amounts represent the gross rental commitments.

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Grace Church Dulwich

Notes forming part of the Financial Statements for the year ending 31 August 2021

17 Pension contributions

The Senior Minister is employed by another charitable enterprise and the company makes payments to this charitable enterprise for a share of his services. These payments include contributions to the Church of England Funded Pensions Scheme, which is a multi-employer defined benefits pension scheme. The company may have a constructive obligation to make contributions towards any funding deficit reported by this scheme however the company is unable to determine the extent of this obligation (if any) and the pension scheme has been treated as if it were a defined contribution scheme. The following pension contributions have been charged to the Statement of Financial Activities:

inancial Activities:
2021 2020
£ £
Church of England Funded Pensions Scheme for Senior 6,842 7,464
Minister
Defined contribution scheme for other employees 7,332
 7,082
14,174 14,546

19