# **GRACE & LIGHT UK (A Company Limited by Guarantee)**
UNAUDITED REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023 CHARITY NUMBER: 1115859
REGISTERED COMPANY NUMBER: 5862183
**GRACE & LIGHT UK (A Company Limited by Guarantee)**
## **Contents**
||Page|
|---|---|
|Reference and administrative details of the Company, its trustees and advisers|3|
|Trustees’ report|4-7|
|Independent examiner’s report|8|
|Statement of financial activities|9|
|Balance sheet|10|
|Notes to the financial statements|11-16|
|Income and expenditure account|17|
2
**GRACE & LIGHT UK (A Company Limited by Guarantee)**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **31 DECEMBER 2023**
**TRUSTEES AND DIRECTORS:**
**SECRETARY:**
**REGISTERED OFFICE:**
E J Greening P D S King M T E Hopkins F Ogunyide J Sweeney K Rotowa P D S King 5 Greenways Beckenham Kent BR3 3NG
**REGISTERED COMPANY NUMBER: REGISTERED CHARITY NUMBER INDEPENDENT EXAMINER:**
5862183 (England and Wales)
1115859
Michael Marshall 2 Meldon Gardens Choppington Northumberland NE62 5EW
**BANKERS:**
Lloyds plc 64 Fore Street Trowbridge BA14 8EU
3
**GRACE & LIGHT UK**
**(A Company Limited by Guarantee)**
## **REPORT OF THE TRUSTEES for the year ended 31 December 2023**
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report and financial statements for the year ended 31 December 2023.
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 (FRS102) (effective 1 January 2019).
## _**Structure, governance and management**_
The charity is a company limited by guarantee without a share capital. The limit of the members’ liability under the terms of the company’s Memorandum and Articles is £1.00 each. The charity was established in 2006 as the UK branch of Grace & Light International Ministry, a Christian charity based in Jos, Nigeria.
New trustees are normally appointed by the members of the charity at a general meeting, or by the existing trustees at other times. In this latter case the trustee must retire at the next annual general meeting, but can be reappointed. One third of all directors retire at each AGM by rotation, but can be re-elected. The Memorandum and Articles provide for a minimum of three trustees, with no maximum number.
Trustees meet at least quarterly to agree the broad strategy and areas of activity for the charity. The charity has no employees so the trustees share the responsibilities of fundraising and day-to-day administration. All trustees give of their time freely and no trustee received remuneration or expenses during the year. There are currently no formal induction or training programmes for directors.
## _**Risk assessment and management**_
The trustees have considered the major risks to which the charity is exposed and seek to manage them on an ongoing basis.
Our major operational risk is our dependence on a small team of volunteers for our work in raising funds and for future ministry in the UK.
Financially, the charity relies mainly on private donations and much of our income is given by standing order. The ability of the wider Grace & Light movement to carry on its work is directly dependent on these donors’ continued giving and the raising of additional funds.
## _**Related Parties and Others in Cooperative Activities**_
Grace & Light acts in close partnership with a number of other Christian charities from the UK in fulfilling the aims and objectives set out in the Memorandum and Articles of Association.
## _**Objectives and activities for the public benefit**_
Grace & Light takes a unique church-centred approach to the HIV pandemic, integrating prevention, care and support and attitude change activities.
We believe that the HIV/AIDS pandemic is more than a medical emergency, it is also a spiritual and moral crisis. Indeed, the spiritual and moral issues go deeper than the medical ones in both developed and developing nations.
Thus we have constructed a response that tackles all three areas. In Grace & Light medical personnel and theologians work together to transforms lives through our three principles grace, openness and love.
We work through local churches of any denomination. They are rooted in their communities and retain respect, a potent combination in the fight against HIV & AIDS.
The process begins with the minister and leaders. We only go into churches with their active support. Then we address the entire congregation during a service, giving basic information on the disease and preaching the gospel and challenging people.
4
**GRACE & LIGHT UK**
## **(A Company Limited by Guarantee)**
That challenge begins with HIV testing on the church premises for all who are interested. Two options are offered: standard confidential testing or openness – sharing your results with other people in the church who have also chosen to be open.
All who choose the second option make three commitments, to:
- Belong to Christ in the gospel
- Be open about their HIV status, whether positive or negative
- Meet together regularly in small groups to support and encourage each other.
Though we began in Nigeria, in response to the particular cultural issues there, we aim to apply this approach wherever the pandemic and Christian churches coexist.
## _**Review of activities**_
## **Overview**
During 2023 ten Grace & Light volunteer teams were active, visiting 93 churches in total, sharing the gospel of righteousness with 27,116 people and testing 2,661 for HIV/AIDS. Of those who tested, 15 were positive.
The majority (96%) chose to be open about their status and join life sharing or voluntary savings and accountability groups. Significant numbers rededicated their lives to Christ (4,392 people) or made a first commitment (475 people).
**The economic meltdown in Nigeria is having a huge impact on people and intensifying ordinary moments of temptation as parents struggle to feed their families.**
Again and again our volunteer groups are hearing cries of desperation from husbands who can’t find work and wives who want to leave husbands who are not earning enough to support their families. Family breakups are causing children to turn to crime to survive.
“We are hearing so many confessions from people trying to cut corners to survive financially,” says international coordinator Tassie Ghata. “So many confessions during our church visits.
“Wives and children turning to prostitution, people stealing from their workplaces, turning to witchcraft and fetish traditional religions. They want to live right and are asking God to give them grace to say no to things that are wrong.
‘We are challenging churches to support destitute people within their congregations and local communities, to see this as part of their ministry and calling in Jesus Christ.”
## **Schools ministry**
Substance abuse, gambling, bullying, sex, abusive relationships are common issues facing Nigerian secondary school students. Who can they trust to help them cope with these issues?
Teenagers face the same relationship and self-worth issues adults face; not only in Nigeria but around the world. They want and need someone to help them cope. Grace & Light volunteers are there for them when they can’t turn to family.
Every school our volunteers visit they share the same message: we are all made in God’s image, both girls and boys, we are equal in Christ. We should be treating each other with mutual respect as members of God’s family.
We go further, encouraging students to call out behaviours that do not honour God and so protect those in their school communities who are vulnerable. Our message has caused many to recommit their lives to Christ and to living according to his standards.
“We regularly come across students who are living with abusive guardians and being used as home help. The guardians may or may not be related to them. We help the students to return to their villages and families where they will be loved and cared for,” says international coordinator Tassie Ghata.
5
**GRACE & LIGHT UK**
**(A Company Limited by Guarantee)**
During the first nine months of 2023 the Jos and Yola volunteers visited 17 secondary schools. They shared the gospel of social righteousness with 4,130 students. Of these, 1,309 chose to be tested for HIV/ AIDS, just one student tested positive.
One thousand and thirty-seven students rededicated their lives to Christ (25%), and another 198 made a first Christian commitment (5% of the total). At Grace & Light’s annual teachers conference in September they were able to share how they feel, as well as explore the challenges they face and how God sees their young charges.
The messages they heard during the day encouraged them to recommit themselves to actively supporting the younger generation, including helping teenagers cope with the negative impacts of social media on selfesteem.
Twenty-eight teachers from 17 secondary schools in Jos attended the conference. They all teach at schools the Jos volunteer team has visited to share during assemblies.
Many gave testimonies about how the conference has challenged them to change. One person stands out for international coordinator Tassie Ghata.
“He said that he had been offered N21,000 to look the other way during an exam and accepted the money. Then on the same day he lost his mobile phone worth N80,000. He felt this was a consequence of turning from God’s standards and during the conference publicly committed to not accepting bribes in future.”
## **Voluntary Savings and Accountability Groups**
Grace & Light members in local churches are saving part of their incomes and investing in each other’s small businesses to reduce the poverty in their lives. They are members of one of the 26 Voluntary Savings and Accountability Groups (VSAG) active in many of the churches across Jos and Yola.
VSAGs are the new way of doing life sharing accountability for Grace & Light members who choose to share their HIV results after testing in local churches.
Each group has 25 to 30 members who meet each week to encourage each other in their Christian lives. The final quarter hour of each meeting is given to their savings club.
They are able to buy up to five shares; all the shares have the same value that is agreed by the group, so they have financial equitability. Group members can then borrow up to three times the value of their shares and pay interest to the group.
Interest is paid back within three months or it doubles – so others can borrow. After 12 months members receive the value of their shares plus interest earned. Then their savings club starts again from scratch.
Each savings club is run by three members who act as the treasurers. When the group meets they record deposits and borrowing in a ledger and individual passbooks then put the money in the group safe, usually in their church, or in a local bank account.
International coordinator Tassie Ghata explained: “We had been concerned for some time that members were not staying committed to life sharing groups for very long. They would join enthusiastically, then begin attending sporadically before stopping.
“This is a problem as group members depend on support from each other if they are to overcome the temptations they face each day at work and home. Adding stewardship of money has given the groups longevity.
“We are delighted that all our groups are active. Some have been operating for more than a year and are still strong. Members have enriched their homes and businesses.”
Other churches are asking for Grace & Light to start the groups for their congregations and so we are looking for funds to train new VSAG leaders.
**Book fairs: transforming people’s lives and Grace & Light’s ministry.**
Grace & Light has been selling second hand books in Jos for 13 years to help fund ministry in Nigeria.
6
**GRACE & LIGHT UK**
**(A Company Limited by Guarantee)**
In the early years our book fairs were help outside during the dry season, with books laid out on the ground. Now the fairs are held inside our spacious offices and at TCNN, Theological College of Northern Nigeria, in Jos.
As stocks of books run low, the UK charity Book Aid sends another container from its London warehouse. The books are donated by Book Aid supporters, with Grace & Light paying shipping and import fees in Nigeria.
“Book fairs are not just about raising funds for our ministry,” says international coordinator Tassie Ghata. “They are also about providing local Christians with books that encourage them in their spiritual lives. These are books they would not otherwise be able to afford. The book fairs are also a ministry for us.”
Hundreds of people come each day to browse the books, once the word gets out that Grace & Light has another book fair. Many return each year for more books. As they browse they exclaim as they find books they’ve been looking for a while, often older Christian writers.
“They stop to talk with us and share how their lives have changed after reading books they bought in previous years,” said Tassie. “We are grateful to Book Aid for its generous support supplying books over the years.”
## **Financial review**
The funding situation for Grace & Light changed significantly in 2023. Income was at a record level thanks to extra grants from OM Special Projects. However, this fund is now closed meaning we will not get their £250 a month regular support. Furthermore, our partners AMEN Trust have drastically reduced their support for us following a review of their funding priorities.
Some significant individual donors went on to glory during the year, further challenging our regular support needed for paying salaries. We are grateful to our continuing regular donors and trusts which are helping us complete the training centre project. It is hoped that the centre can become operational in 2025 if sufficient funding is found to complete construction in 2024.
Our expenses are not covered by regular UK giving. However, it has been encouraging to note the steady increase in local support for our work in Nigeria, as well as the contribution from sales at the charity shop at our Jos HQ.
## _**Reserves policy**_
The charity normally pays its expenses in cash and has no long-term liabilities. In 2021 a Special Reserve Fund was set up following a legacy donation.
Approved by the trustees and signed on its behalf by:
……………………………………………………
Edmund Greening (Chairman)
14 September 2024
7
**GRACE & LIGHT UK**
**(A Company Limited by Guarantee)**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF GRACE & LIGHT (the Company)**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the Trustees of the Company (and 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 the Company's accounts 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 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.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Michael Marshall
8
**GRACE & LIGHT UK**
## **(A Company Limited by Guarantee)**
|**Income and endowments from**
Donations and legacies
Giftaid reclaimed
Investment income
**Total Incoming Resources**
**Expenditure on**
**_Raising funds_**
**_Charitable activities_**
**Total expenditure**
**Net income/(expenditure)**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds**:
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Statement of Financial Activities**
**for the year ended 31 December 2023**
**Unrestricted**
**Notes**
**£**
2
30,316
2
6,563
3
202
37,081
4
31,070
31,070
6,011
10
(40)
5,971
4,584
5,971
10,555|**Restricted**
**£**
50,979
105
-
51,084
47,281
47,281
3,803
40
3,843
7,780
3,843
11,623|**2023**
**Total**
**funds**
**£**
81,295
6,668
202
88,165
78,351
78,351
9,814
-
9,814
12,364
9,814
22,178|**_2022_**
**_Total_**
**_funds_**
**_£_**
_62,298_
_-_
_6_|
|---|---|---|---|---|
||
**Notes**
2
2
3
4
10||||
|||||_62,304_|
|||||_61,922_|
|||||_61,922_|
|||||_382_
_-_|
|||||_382_
_11,982_
_382_|
|||||_12,364_|
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 11to 16 form part of these accounts.
9
**GRACE & LIGHT UK**
**(A Company Limited by Guarantee)**
|**Balance Sheet a**
**Note**
**Fixed assets**
**Current assets**
Cash at bank and in hand
Creditors: amounts falling due within
one year
8
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
**Charity funds**
Restricted funds
10
Unrestricted funds
10
**Total funds**|**Balance Sheet a**|**s at 31 December 2023**
**2023**
**£**
-
**22,178**
**-**
**22,178**
**22,178**
**22,178**
**22,178**
**10,555**
**11,623**
**22,178**|**s at 31 December 2023**
**2023**
**£**
-
**22,178**
**-**
**22,178**
**22,178**
**22,178**
**22,178**
**10,555**
**11,623**
**22,178**|_12,364_|_2022_
_£_|
|---|---|---|---|---|---|
|||**22,178**||||
||||-
**22,178**||_-_
_12,364_|
|||**-**||_-_||
||||**22,178**||_12,364_|
||||**22,178**||_12,364_|
||||**22,178**||_12,364_|
||||**10,555**
**11,623**||_4,584_
_7,780_|
||||**22,178**||_12,364_|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved for issue by the Trustees on 14 September 2024:
and signed on their behalf by
… ..
Peter King – Trustee
The notes on pages 11to 16 form part of these accounts.
10
**GRACE & LIGHT UK**
**(A Company Limited by Guarantee)**
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Grace & Light meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.
## **1.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **1.4 Cash at bank and in hand**
Cash at bank and 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.
## **1.5 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## **1.6 Financial instruments**
The 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.
11
**GRACE & LIGHT UK**
**(A Company Limited by Guarantee)**
## **1.7 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **2. Income from donations and legacies**
|Donations
Giftaid recoverd
**Total income from donations**
Donations
Giftaid recoverd
**Total income from donations**
**3.**
**Investment income**
Bank interest
**Total investment income**
Bank interest
**Total investment income**
**4.**
**Analysis of expenditure on charitable activities**
Direct costs - Activities|**Restricted**
**funds**
**2023**
**£**
50,979
105
51,084
_Restricted_
_funds_
_2022_
_£_
28,596
-
28,596
**Restricted**
**funds**
**2023**
**£**
-
-
_Restricted_
_funds_
_2022_
_£_
-
-
**Restricted**
**funds**
**2023**
**£**
47,281|**Unrestricted**
**funds**
**2023**
**£**
30,247
6,563
36,810
_Unrestricted_
_funds_
_2022_
_£_
33,702
-
33,702
**Unrestricted**
**funds**
**2023**
**£**
202
202
_Unrestricted_
_funds_
_2022_
_£_
6
6
**Unrestricted**
**funds**
**2023**
**£**
31,001|**Total**
**funds**
**2023**
**£**
81,226
6,668|
|---|---|---|---|
||||**87,894**|
||||_Total_
_funds_
_2022_
_£_
62,298
-|
||||**62,298**|
||||**Total**
**funds**
**2023**
**£**
202|
||||**202**|
||||_Total_
_funds_
_2022_
_£_
6|
||||**6**|
||||**Total**
**funds**
**2023**
**£**
78,282|
12
## **GRACE & LIGHT UK**
## **(A Company Limited by Guarantee)**
|||_Restricted_|_Unrestricted_|_Total_|
|---|---|---|---|---|
|||_funds_|_funds_|_funds_|
|||_2022_|_2022_|_2022_|
|||_£_|_£_|_£_|
||Direct costs - Activities|24,764|37,158|61,922|
|**5.**|**Analysis of expenditure by activities**||||
|||**Activities**|||
|||**undertaken**|**Support**|**Total**|
|||**directly**|**costs**|**funds**|
|||**2023**|**2023**|**2023**|
|||**£**|**£**|**£**|
||Direct costs - Activities|77,227|1,124|**78,351**|
|||_Activities_|||
|||_undertaken_|_Support_|_Total_|
|||_directly_|_costs_|_funds_|
|||_2022_|_2022_|_2022_|
|||_£_|_£_|_£_|
||Direct costs - Activities|_60,177_|_1,745_|_61,922_|
|**6.**|**Independent examiner’s remuneration**||||
||||**2023**|_2022_|
||||**£**|_£_|
||Fees payable to the Company’s independent examiner for the||||
||independent examination of the Company’s annual accounts||-|**-**|
|**7.**|**Trustees’ remuneration and expenses**||||
||During the year ended 31 December 2023 no trustees received any remuneration or benefits_(2022 -_||||
||_£NIL)._||||
||During the year ended 31 December 2023 no trustee expenses have been incurred_(2022 - £NIL)._||||
|**8.**|**Creditors: Amounts falling due within one year**||||
||||**2023**|_2022_|
||||**£**|_£_|
||Accruals and deferred income||-|**-**|
|**9.**|**Financial instruments**||||
||||**2023**|_2022_|
||||**£**|_£_|
||**Financial assets**||||
||Financial assets measured at fair value through income and||||
||expenditure||**22,178**|_12,364_|
13
**GRACE & LIGHT UK**
**(A Company Limited by Guarantee)**
## **10. Statement of funds**
## **Statement of funds – current year**
|**Balance**
**as at 1**
**January**
**2023**
**£**
**Unrestricted funds**
General reserve
2,777
Designated reserve
1,807
**Total unrestricted**
**4,584**
**Restricted funds**
Books
2,200
Borno
556
Building project
338
Conference
-
Minibuses
1,045
Schools
-
Tassie’s ministry
549
Testing
2,656
Training
436
**Total restricted**
**7,780**
**Total of funds**
**12,364**
**Statement of funds – prior year**
_Balance_
_as at 1_
_January_
_2022_
_£_
**Unrestricted funds**
General funds – all funds
_8,034_
**Restricted funds**
Restricted funds – all
funds
_3,948_
**Total of funds**
_11,982_|**Income**
**£**
31,825
5,202
**37,027**
2,200
-
44,500
1,308
-
50
805
1,507
714
**51,084**
**88,111**
_Income_
_£_
_33,708_
_28,596_
_62,304_|**_Expenditure_**
**_£_**
_(31,017)_
_-_
**_(31,017)_**
_(2,200)_
_(100)_
_(41,640)_
_(1,308)_
_-_
_-_
_(1,033)_
_(1,000)_
_-_
**_(47,281)_**
**_(78,298)_**
_Expenditure_
_£_
_(37,158)_
_(24,764)_
_(61,922)_|**Transfers**
**in/out**
**£**
(1,131)
1,091
**(40)**
-
-
40
-
-
-
-
-
-
**40**
**-**
_Transfers_
_in/out_
_£_
_-_
_-_
_-_|**Balance**
**as at 31**
**December**
**2023**
**£**
2,454
8,100|
|---|---|---|---|---|
|||||**10,554**|
|||||2,200
456
3,238
-
1,045
50
321
3,163
1,150|
|||||**11,583**|
|||||**22,177**|
|||||_Balance_
_as at 31_
_December_
_2022_
_£_
_4,584_|
|||||_7,780_|
|||||_12,364_|
14
**GRACE & LIGHT UK**
**(A Company Limited by Guarantee)**
## **11. Summary of funds**
## **Summary of funds – current year**
|**Balance**
**as at 1**
**January**
**2023**
**£**
**Income**
**£**
**Expenditure**
**£**
**Transfers**
**in/out**
**£**
General funds
**4,584**
**37,027**
**(31,017)**
**(40)**
Restricted funds
**7,780**
**51,084**
**(47,281)**
**40**
**Total of funds**
**12,364**
**88,111**
**(78,298)**
**-**
**Summary of funds – prior year**
_Balance_
_as at 1_
_January_
_2022_
_£_
_Income_
_£_
_Expenditure_
_£_
_Transfers_
_in/out_
_£_
General funds
_8,034_
_33,708_
_(37,158)_
_-_
Restricted funds
_3,948_
_28,596_
_(24,764)_
_-_
**Total**
_11,982_
_62,304_
_(61,922)_
_-_
**12. Analysis of net assets between funds**
**Analysis of net assets between funds- current year**
**Restricted**
**funds**
**2023**
**£**
**Unrestricted**
**funds**
**2023**
**£**
Current assets
**11,623**
**10,554**
Creditors due within one year
**-**
**-**
**Total of funds**
**11,623**
**10,554**
**Analysis of net assets between funds- prior year**
_Restricted_
_funds_
_2022_
_£_
_Unrestricted_
_funds_
_2022_
_£_
Current assets
_7,780_
_4,584_
Creditors due within one year
_-_
_-_
**Total**
_7,780_
_4,584_|**Transfers**
**in/out**
**£**
**(40)**
**40**|
|**Balance**
**as at 31**
**December**
**2023**
**£**
**10,555**
**11,623**|
|---|---|---|---|
||**-**||**22,177**|
||_Transfers_
_in/out_
_£_
_-_
_-_||_Balance_
_as at 31_
_December_
_2022_
_£_
_4,584_
_7,780_|
||_-_||_12,364_|
||||**Total**
**funds**
**2023**
**£**
**22,177**
**-**|
||||**22,177**|
||||_Total_
_funds_
_2022_
_£_
_12,364_
_-_|
||||_12,364_|
15
## **GRACE & LIGHT UK**
## **(A Company Limited by Guarantee)**
## **13. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
**Net cash provided by/(used in) operating activities**
**14. Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**
**15. Analysis of changes in net debt**
**At 1**
**January**
**2023**
**£**
Cash at bank and in hand
**12,364**
**Total of funds**
**12,364**|**2023**
**£**
_2022_
_£_
**9,814**
_382_
**9,814**
_382_
**2023**
**£**
_2022_
_£_
**22,178**
_12,364_
**22,178**
_12,364_
**Cash**
**inflows**
**£**
**At 31**
**December**
**2023**
**£**
**9,814**
**22,178**
**9,814**
**22,178**|**2023**
**£**
_2022_
_£_
**9,814**
_382_
**9,814**
_382_
**2023**
**£**
_2022_
_£_
**22,178**
_12,364_
**22,178**
_12,364_
**Cash**
**inflows**
**£**
**At 31**
**December**
**2023**
**£**
**9,814**
**22,178**
**9,814**
**22,178**|_2022_
_£_
_382_|
|---|---|---|---|
||||_382_
_2022_
_£_
_12,364_|
||||_12,364_|
|||**22,178**||
## **16.Description of funds**
**Books:** Funds to purchase new books for resale
**Borno ministry:** Funds received to be used for ministry in Borno State.
**Building project:** Funds received to build a retreat centre at Grace & Light’s headquarters in Nigeria. **Conference:** Funds received to subsidize conference fees for leaders’ conference.
**Minibuses:** Funds received to purchase minibuses to transport staff and volunteers.
**Schools:** Funds received to be used for schools’ ministry.
**Tassie’s ministry:** Funds to be used at the discretion of the International Coordinator.
**Testing:** Funds received for HIV testing expenses.
**Training:** Funds received for training expenses.
16
**GRACE & LIGHT UK**
**(A Company Limited by Guarantee)**
## **INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023**
|**INCOMING RESOURCES**
Donations
Giftaid reclaimed
Deposit account interest
**Gross income in the reporting period**
**Less:**
**Charitable Activities**
Grants paid for Nigeria ministry
**Support costs**
Travel
Web hosting
**Finance**
Bank charges
**Total expenditure**
**Net income/(expenditure) for the reporting period**
Surplus/(deficit) for the reporting period
Surplus brought forward
Surplus carried forward|**2023**
**£**
**81,295**
**6,668**
**202**
**77,227**
**890**
**69**
**165**|**2023**
**£**
**88,165**
**88,165**
**77,227**
**959**
**165**
**78,351**
**9,814**
**9,814**
**12,364**
**22,178**|_2022_
_£_
_62,298_
_-_
_6_
_60,177_
_1,581_
_29_
_135_|_2022_
_£_
_62,304_|
|---|---|---|---|---|
|||||_62,304_|
|||||_60,177_
_1,745_
_135_|
|||||_61,922_|
||||||
|||||_382_|
|||||_382_
_11,982_
_12,364_|
17