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2025-08-31-accounts

Grace Church Wanstead

Annual Report and Accounts Year Ended 31 August 2025

Charity registration number 1118247

Calculus Accountants and Tax Advisers Limited

5 Priory Road Loughton Essex IG10 1AF

Grace Church Wanstead

Charity registration number: 1118247

YEAR ENDED 31 AUGUST 2025

CONTENTS
Page
Legal and administrative information 1
Trustees Report 2 - 4
Independent examiners report 5
Receipts and payments account 5
Statement of assets and liabilities 7
Notes to the financial statements 8 - 10

Grace Church Wanstead

Charity registration number: 1118247

YEAR ENDED 31 AUGUST 2025

Legal and administrative information

Legal framework CIO Chair of Trustees David Gibbs Trustees David N Gibbs Costas Argyrou Dr Keith Ferdinando - appointed 11[th] November 2024 Registered office 19 Highstone Avenue London E11 2PP Independent Examiner Sylvia Lambden FCCA Calculus Accountants and Tax Advisers Ltd 5 Priory Road Loughton Essex IG10 1AF Bankers NatWest Bank 250 Bishopsgate London EC2M 4AA Solicitors Edward Connor 10 The Point Market Haborough LE16 7QU

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Grace Church Wanstead

Charity registration number: 1118247

YEAR ENDED 31 AUGUST 2025

Trustees Annual Report

The Trustees are pleased to present their annual report and accounts.

Organisation

The church is presently constituted as a CIO (Charitable Incorporated Organisation) by the 2024 Governing document, comprising the Constitution and the Church handbook. The Church has converted from a Company Limited by Guarantee (company number 5899396) to a CIO during the year and has retained the same charity registration number. The new constitution was adopted on 19[th] November 2023 and approved by the Charity Commission on 31[st] May 2024.

Charitable Objectives

The objects of the Church are the advancement of the Christian Faith including:

1.the advancement of Christ's Kingdom by the faithful and prayerful teaching of the Scriptures at Grace Church Wanstead and by the recruitment, education, training and sending of gospel ministers and others around the United Kingdom and abroad to establish and renew Christian churches and ministries related thereto;

  1. the relief of need, hardship, physical or mental distress among any persons without limitation;

3 the support of Christians who are persecuted by reason of their faith provided always that such support shall be non-political in nature; and

4 the support of Christians who are engaged full-time in the missionary work of proclaiming the Gospel and in bringing others to believe in Jesus Christ and to live in accordance with his teaching.

Public Benefit

The Trustees have reviewed the Charity Commission's guidance on public benefit and confirm that they have complied with the duty in Section 4 of the Charities Act 2011, to have due regard to the Charity Commission’s general guidance on public benefit

continuing to provide public benefit through many and varied activities including;

None of the activities of the church that provide public benefit are restricted in any way in terms of gender, race, faith, background, or disability.

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Grace Church Wanstead

Charity registration number: 1118247

YEAR ENDED 31 AUGUST 2025

Structure and Governance

The Trustees of the charity are made up of two elders of the church and one external trustee. They manage and direct the work of the charity. They meet quarterly in accordance with the charity’s constitution, in order to carry out this function. Day to day management is overseen by David Gibbs as Senior Minister and Chairman, who meets with the other elder Costas Argyrou on a weekly basis.

Trustees are appointed or re appointed in accordance with the Church’s constitution

Activities

At the heart of our activities is a public weekly Sunday meeting held at Wanstead House, a local community centre. This is advertised through our website and leafletting 3,500 residents three times a year (Easter, Christmas and in September at the time of the Wanstead Festival). Other activities include:

Most of the charities activities are undertaken by volunteers and the charity could not operate effectively without their efforts.

In planning the activities the trustees have applied the guidance on public benefit issued by the Charity Commission.

Plans for the future

The charity will continue to seek to bring the gospel of Jesus Christ to Wanstead and surrounding area. The trustees will continue to review its activities in light of that aim, and also seek new initiatives to enhance the spread of the Christian faith in Wanstead. The partnership with other churches and the church’s affiliation to the nationwide Fellowship of Independent Evangelical Churches enhance the charity as it seeks to spread the Christian Faith in Wanstead and beyond. We have particularly been discussing with Crossway Church, Stratford how they might be involved in partnership with Grace Church Wanstead to further enhance the meeting of the objectives of charity.

Financial review

The financial year saw a surplus of £ 8,906. Total income was £80,248 (2024: £85,182) in the year with expenditure of £71,342 (2024: £73,585) for the financial year. This meant that cash reserves at the end of the financial year were £59,470 (2024 £50,564). For the first six months of the

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Grace Church Wanstead

Charity registration number: 1118247

YEAR ENDED 31 AUGUST 2025

current year the charities income has boosted by a one gift totalling of £20,000. All reserves held are unrestricted.

Reserves policy

The current reserves policy is that free reserves held by the charity should be maintained at the level required to meet the company's financial commitments to pay staff and agreed property rental for a period of not less than three months (c£16,000) and not more than six months (c£32,000) Currently our reserves are well above the top level due to a high proportion of our income being in substantial one off gifts rather than monthly regular giving. Our aim in the medium term is to increase our monthly regular income and so be able to work more in line with our current policy.

Going Concern

The Trustees continue to review the level of finances in the charity. The early part of the new financial year saw a significant of one-off gift which further strengthening the charities finances. Regular monthly income is currently running below expenditure. The Trustees continue to review the situation and at this stage are comfortable that there is no immediate danger of insolvency and the charity remains a “going concern”.

Key risks and uncertainties

The charity is exposed to various risks be they operational, financial or reputational. The Trustees review the charity’s activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.

Trustees’ responsibilities

The trustees 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).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the [Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been agreed by the Charity Trustees of Grace Church Wanstead.

Approved by the Trustees on June 2026

and signed on their behalf by:

…………………………… David Gibbs Trustee, Chairman and Senior Minister

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Grace Church Wanstead

Charity registration number: 1118247

YEAR ENDED 31 AUGUST 2025

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

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2025 which are set out on pages 6 to 10.

Responsibilities and basis of report

As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the 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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

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

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.

Sylvia Lambden FCCA

Calculus Accountants and Tax Advisers Limited

Accountants 5 Priory Road Loughton Essex IG10 1AF

Date: June 2026

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Grace Church Wanstead

Charity registration number: 1118247

YEAR ENDED 31 AUGUST 2025

Receipts and Payments Account

Unrestricted
Funds
Restricted
Funds
Total
2025
Total
2024
£
£
£
£
74,868
-
74,686
82,927
1,826
-
1,826
2,105
500
-
3,736
150
Receipts
Notes
Donations and legacies
2
Charitable activities
3
Other income
4
Total income
Payments
Charitable Activities
Governance
5
6
Support costs
7
Total Payments (excluding
assets receipts)
Total Payments
Net resources expended
Net movement in funds
Cash Fund balances brought
forward at 1st September 2024
10
Cash Fund balances carried
forward at 31st August 2025
10
77,012
-
80,248
85,182
68,405
2,406
-
66,951
865
68,405
2,406
2,774
-
3,526
2,774
73,585
-
71,342
73,585
73,585
-
71,342
73,585
11,597
-
8,906
11,597
50,564
38,967
-
-
-
-
£50,564
-
£59,470
£50,564

The notes on page 8 to 10 form part of these financial statements.

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Grace Church Wanstead

Charity registration number: 1118247

YEAR ENDED 31 AUGUST 2025

Statement of Assets and Liabilities
Notes
Cash Funds
Cash at bank
Total cash funds
Other monetary assets
Prepayments and accrued
income
Assets retained for the
charities own use
Liabilities
Accruals
Unrestricted
General funds
Restricted
Restricted 10
Total cash funds
Unrestricted
£
Designated
£
Restricted
£
2025
£
2024
£
50,564
-
-
59,470
50,564
£50,564
-
-
£59.470
£50,564
1,079
-
-
1,079 1,999
-
-
-
-
-

£363
-
-
£363
£363
£3,464
-
-
£3,464
£4,182
£3,464
-
-
£3,464
£4,182
59,470
-
-
59,470
50,564
-
-
-
-
-
£59,470
-
-
£59,470
£50,564

The financial statements on pages 6 to 10 were approved by the Trustees on and signed on their behalf by:

David Gibbs 2026 Trustee, Chairman and Senior Minister

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Grace Church Wanstead

Charity registration number: 1118247

YEAR ENDED 31 AUGUST 2025

Notes to the accounts

1. Accounting policies

1.1 Basis of preparation of the accounts

The accounts are prepared on a ‘Receipts & Payments’ basis under section 133 of the Charities Act 2011, the statement of assets and liabilities included assets listed at insured values. The results of the Charity operations are described in the Trustees’ Report and are continuing. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the [Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed.

1.2 Fund accounting policy

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

Designated funds are unrestricted funds set aside at the discretion of the Trustees for specific purposes.

Restricted funds are those which were raised for particular purposes and can only be used for those particular restricted purposes within the objects of the charity. The cost of raising and administering such funds are charged against the specific fund.

1.3 Incoming resources

Donations and general gifts are recognised as incoming resources on receipt.

Gift aid income received are tax reclaims on the donations of tax paying members of the Church and are included in donations on receipt.

Investment and sundry income is recognised when received.

1.4 Resources expended

Resources expended are included in the statement of financial activities on a receipts and payments basis. Certain costs have been apportioned between direct charitable expenditure, management and administration on a basis consistent with the use of those resources.

2. Donations and legacies

Donations
Gift aid
Total		 Unrestricted
£
68,270
6,416
£74,686		 Restricted
£
-
-
-		 2025
Total
£
68,270
6,416
£74,686		 2024
Total
£
76,452
6,475
£82,927

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Grace Church Wanstead

Charity registration number: 1118247

YEAR ENDED 31 AUGUST 2025

Notes to the accounts

3. Charitable activities
Event income
Grace Church tots subs
Total
4. Other income
Miscelleneous
Employment allowance
Total
5. Expenditure on charitable activity
Salaries
Employer national insurance
Ministers housing
Pension costs
Travel
Conferences and training
Gifts to visiting preachers
Missionary support
Telephone and zoom
Refreshments
Venue hire
Music
Toddler group and Sunday School
Events and publicity
Small equipment
Software
Printing, stationery and post
Books and literature
Sundry
Hardship fund		 Unrestricted
£
Restricted
£
Total
£
Total
£
35
1,791
-
-
35
1,791
-
2,105
£1,826
-
1,826
£2,105
Unrestricted
£
Restricted
£
2025
Total
£
2024
Total
£
500
3,236
-
500
3,236
150

500
-
3,736 150
2025
2024
unrestricted
restricted
£
£
28,378
3,047
16,534
748
264
930
355
4,000
1,375
906
8,475
18
505
1,451
161
59
234
700
-
-
-
-
-
-
-
-
-
-
-
-
-
-
29,308
3,236
16,118
711
465
511
500
4,000
685
999
8,190
2
326
1,176
-
85
106
379
28,378
3,047
16,534
748
264
930
355
4,000
1,375
906
8,475
18
505
1,451
161
59
234
-
15
250
-
-
154
-
15
250
68,405
-
66,951
68,405

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Grace Church Wanstead

Charity registration number: 1118247

YEAR ENDED 31 AUGUST 2025

7. Support costs
Subscriptions and professional fees
Bookkeeping and payroll
Insurance
Disclosure and barring service
Notes to the accounts
6. Governance costs
Independent examiners fee
Accounts preparation
Confirmation statement
Solicitor re CIO conversion
Total		 Unrestricted
£
Restricted
£
2025
£
2024
£
1,268
1,364
696
-
-
-
1,268
1,364
696
946
1,269
353
198
-
198
206
Unrestricted
£
Restricted
£
2025
£
2024
£
465
400
-
-
465
400
375
375
-
-
-
13
-
-
-
1,643
£865
-
£865
£2,406
£3,526
-
£3,526
£2,774

8. Staff costs

The charity had 1 employee during the year. The charity operates a defined contribution pension scheme.

9. Trustees and related parties

The charity employs one Trustee as Minister which is allowed under the constitution. Renumeration, pension and accommodation costs incurred by him are shown in note 5. Donations were received from Trustees and related parties but as the charity operates an envelope giving scheme to ensure privacy it is not possible to identify individual donations. Amounts paid on behalf of the charity were reimbursed to the Trustees, but no other expenses were claimed or paid.

10. Reserves

All reserves are unrestricted.

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