||||Page||
|---|---|---|---|---|
|Report ofthe Trustees||I|to|8|
|Independent<br>Examiner's|Report||||
|Statement ofFinancial Activities|||10||
|Balance Sheet||11|to|12|
|Cash Flow Statement|||13||
|Notes to the Cash Flow|Statement||14||
|Notes to the Financial Statements||15|to|23|
|Detailed Statement ofFinancial Activities||24|to|25|





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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes|||||
|INCOME AND ENDOWMENTS FROM||||||||
|Donations<br>and legacies||||537,953|11,157|549,110|495,889|
|Charitable<br>activities||||||||
|Church Activities||||3,164|9,855|13,019|10,757|
|Investment<br>income||||152|1,851|2,003|415|
|Total||||541,269|22,863|564, 132|507,061|
|EXPENDITURE|ON|||||||
|Charitable<br>activities||||||||
|Church Activities||||487,584|15,023|502,607|487,698|
|NET INCOME||||53,685|7,840|61,525|19,363|
|Transfers<br>between|funds||17|~26,413)|26,413|||
|Net movement<br>in|funds|||27,272|34,253|61,525|19,363|
|RECONCILIATION||OF FUNDS||||||
|Total funds brought|forward|||925,374|4,918|930,292|910,929|
|TOTAL FUNDS CARRIED FORWARD||||952,646|39,171|991,817|930,292|





## 

|||||2023|2022|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Notes|||||
|FIXEDASSETS||||||
|Tangible assets|11|1,595,102||1,595,102|1,606,396|
|CURRENT ASSETS||||||
|Debtors|12|103,786|(145)|103,641|87,870|
|Cash at bank and in hand||63,279|63,983|127,262|106,526|
|||167,065|63,838|230,903|194,396|
|CREDITORS||||||
|Amounts<br>falling due within one year|13|(41,698)|(24,667)|(66,365)|(68,993)|
|NET CURRENT ASSETS||125,367|39,171|164,538|125,403|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||1,720,469|39,171|1,759,640|1,731,799|
|CREDITORS||||||
|Amounts<br>falling due after more than one year|14|(767,823)||(767,823)|(801,507)|
|NET ASSETS||952,646|39,171|991,817|930,292|
|FUNDS|17|||||
|Unrestricted<br>funds||||952,646|925,374|
|Restricted<br>funds||||39,171|4,918|
|TOTAL FUNDS||||991,817|930,292|





## 

|||||2023|2022|
|---|---|---|---|---|---|
||||Notes|||
|Cash flows from operating||activities||||
|Cash generated<br>from operations||||75,413|65,088|
|Interest paid||||~30,849)|~27,910)|
|Net cash provided<br>by operating<br>activities||||44,564|37,178|
|Cash flows from investing||activities||||
|Purchase oftangible fixed assets<br>Sale oftangible<br>fixed assets|||||(69,589)<br>272|
|Interest received||||227|3|
|Net cash provided<br>by/(used||in) investing|activities|227|~69,314)|
|Cash flows from financing||activities||||
|Loan repayments<br>in year||||~24,055)|~21,364)|
|Net cash used in financing|activities|||~24,055)|~21,364)|
|Change<br>in cash and cash|equivalents||in|||
|the reporting<br>period<br>Cash and cash equivalents||at the||20,736|(53,500)|
|beginning ofthe reporting||period||106,526|160,026|
|Cash and cash equivalents||at the end|of|||
|the reporting<br>period||||127,262|106,526|





||RECONCILIATION|RECONCILIATION|RECONCILIATION|OF NET INCOME TO NET CASH FLOW FROM|OF NET INCOME TO NET CASH FLOW FROM|OF NET INCOME TO NET CASH FLOW FROM|OPERATING||
|---|---|---|---|---|---|---|---|---|
||ACTIVITIES||||||||
||||||||2023|2022|
||Net income|for the|reporting|||period (as per the Statement of Financial|||
||Activities)||||||61,525|19,363|
||Adjustments|for:|||||||
||Depreciation|charges|||||11,294|12,040|
||Loss on disposal of||fixed||assets|||278|
||Interest received||||||(227)|(3)|
||Interest paid||||||30,849|27,910|
||(Increase)/decrease<br>in debtors<br>Decrease in creditors||||||(15,771)<br>~)2,257|8,157<br>~2,657)|
||Net cash provided||by|operations|||75,413|65,088|
|2.|ANALYSIS|OF CHANGES IN NET DEBT|||||||
|||||||At 1.4.22|Cash flow|At 31.3.23|
||Net cash||||||||
||Cash at bank|and in|hand|||106,526|20,736|127,262|
|||||||106,526|20,736|127,262|
||Debt||||||||
||Debts falling|due within|||1 year|(22,622)|(9,629)|(32,251)|
||Debts falling|due after||1|year|~801,507|33,6114|~767,823|
|||||||~824, 129|24,055|~800,074|
||Total|||||~717,603)|44,791|i672,8)2)|





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## 

## 

||Rentals<br>paid under<br>operating<br>leases are ch<br>period ofthe lease.|Rentals<br>paid under<br>operating<br>leases are ch<br>period ofthe lease.|Rentals<br>paid under<br>operating<br>leases are ch<br>period ofthe lease.|Rentals<br>paid under<br>operating<br>leases are ch<br>period ofthe lease.|Rentals<br>paid under<br>operating<br>leases are ch<br>period ofthe lease.|arged<br>to the profit|and loss account|on a straight<br>line|basis over t|
|---|---|---|---|---|---|---|---|---|---|
||DONATIONS<br>AND LEGACIES|||||||||
|||||||||2023|2022|
||Gitt aided giving|||||||392,064|330,960|
||Gifts, tithes|&offerings||||||58,304|81,960|
||Gift aid|||||||98,742|82,969|
|||||||||549,110|495,889|
|3.|INVESTMENT INCOME|||||||||
|||||||||2023|2022|
||Rents received|||||||1,776|412|
||Deposit account interest|||||||227|3|
|||||||||2,003|415|
|4.|INCOME|FROM|CHARITABLE ACTIVITIES|||||||
|||||||||2023|2022|
||||||Activity|||||
||Church activities||||Church Activities|||13,019|10,757|
|5.|CHARITABLE ACTIVITIES COSTS|||||||||
||||||||Grant|||
||||||||funding of|||
||||||||activities|Support||
|||||||Direct|(see note|costs (see||
|||||||Costs|6)|note 7)|Totals|
||Church Activities|||||393,282|68,307|41,018|502,607|
|6.|GRANTS|PAYABLE||||||||
|||||||||2023|2022|
||Church Activities|||||||68,307|44,421|
||Grants made to institutions|||and|individuals|for the furtherance|ofthe Charity's|objects were:||
||Institutions|||||||||
||Compassion||||||||8,500|
||Commission<br>- General||||||||20,017|
||Earthquake|Fillipus|||||||1,500|
||Pregnancy|Options|Centre,|Chichester|||||1,861|
||John 3:16(Adrian||Holloway)||||||550|
||Earthquake|Catalyst|||||||7,477|
||Breadtrust|appeal|||||||4,940|





## 

||Home for good|||||||1,000|
|---|---|---|---|---|---|---|---|---|
||Heart for Homeless,<br>Chichester|||||||2,000|
||BRYCC|||||||1,250|
||Other (Prisons Fellowship,||Christians|Against Poverty,|Urban|Saints)||1,240|
||Food bank Chichester/Havant/Bognor|||Regis||||4,212|
||Sanctuary<br>- Syrian Family|||||||1,192|
|||||||||55,739|
||Individuals|||||||12,568|
|7.|SUPPORT COSTS||||||||
||||||||Governance||
|||||||Finance|costs|Totals|
||Church Activities|||||32,143|8,875|41,018|
|S.|NET INCOME/(EXPENDITURE)||||||||
||Net income/(expenditure)|is|stated after charging/(crediting):||||||
||||||||2023|2022|
||Independent<br>examination|fees|||||4,680|3,780|
||Depreciation<br>- owned assets||||||11,294|12,041|
||Deficit on disposal offixed||assets|||||278|



## 

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## 

|||2023|2022|
|---|---|---|---|
|Wages|and salaries|218,551|233,388|
|Social|security costs|18,442|18,677|
|Other|pension costs|14,989|16,086|
|||251,982|268,151|



|The averag|e monthly<br>number ofemployees<br>during<br>th|e year was as follows:||
|---|---|---|---|
|||2023|2022|
|Charitable|activities|7|8|



||No employees<br>received emoluments<br>in exces|s off60,000.||||
|---|---|---|---|---|---|
|11.|TANGIBLE FIXEDASSETS|||||
|||Freehold|Plant and|Computer||
|||property|machinery|equipment|Totals|
||COST|||||
||At 1st April 2022 and 31st March 2023|1,601,945|10,103|36,677|1,648,725|
||DEPRECIATION|||||
||At 1stApril 2022|13,198|5,206|23,925|42,329|
||Charge for year|7,295|1,849|2,150|11,294|
||At 31st March 2023|20,493|7,055|26,075|53,623|
||NET BOOK VALUE|||||
||At 31st March 2023|1,581,452|3,048|10,602|1,595,102|
||At 31st March 2022|1,588,747|4,897|12,752|1,606,396|
|12.|DEBTORS:AMOUNTS FALLING DUE|WITHIN ONE|YEAR|||
|||||2023|2022|
||Other debtors|||103,641|87,870|






|13.|CREDITORS: AMOUN|TS|FALLING DUE|WITHIN|ONE YEAR||
|---|---|---|---|---|---|---|
||||||2023|2022|
||Bank loans and overdrafts|(see note 15)|||32,251|22,622|
||Social security and other|taxes|||5,934|6,219|
||Other creditors||||24,760|36,732|
||Accruals<br>and deferred<br>income||||3,420|3,420|
||||||66,365|68,993|
|14.|CREDITORS: AMOUNTS||FALLING DUE AFTER MORE THAN ONE YEAR||||
||||||2023|2022|
||Bank loans (see note 15)||||767,823|801,507|
|15.|LOANS||||||
||An analysis ofthe maturity ofloans is given below:||||||
||||||2023|2022|
||Amounts<br>falling due within one year on demand:||||||
||Bank loans||||32,251|22,622|
||Amounts<br>falling between|one|and two years:||||
||Bank loans - 1-2 years||||33,508|23,879|
||Amounts<br>falling due between||two and five years:||||
||Bank loans - 2-5 years||||108,065|79,177|
||Amounts<br>falling due in more than five years:||||||
||Repayable<br>otherwise<br>than|by instalments:|||||
||Bank loans more 5 yrs non-inst||||626,250|698,451|
|16.|LEASING AGREEMENTS||||||
||Minimum<br>lease payments|under non-cancellable||operating|leases fall due as follows;||
||||||2023|2022|
||Within one year||||1,488|1,488|
||Between one and five years||||744|2,232|
||||||2,232|3,720|



## 



## 

|MOVEM|ENT|IN F|UNDS|||||
|---|---|---|---|---|---|---|---|
||||||Net|Trans fers||
||||||movement|between|At|
|||||At 1.4.22|in funds|funds|31.3.23|
|Unrestricted||funds||||||
|General|fund|||925,214|(62,355)|85,705|948,564|
|Gift Day|Designated||Fund||114,530|(114,530)||
|Youth||||160|1,510|2,412|4,082|
|||||925,374|53,685|(26,413)|952,646|
|Restricted<br>funds||||||||
|Building|Fund||||6,096|32,500|38,596|
|Josh G|||||75||75|
|Syrian Family||||1,192|(1,192)|||
|Hardship|||||500||500|
|Events<br>Members|Gifts|||3,676<br>50|2,411<br>~50)|(6,087)||
|||||4,918|7,840|26,413|39,171|
|TOTAL|FUNDS|||930,292|61,525||991,817|
|Net movement||in funds, included||in the above are as follows:||||
||||||Incoming|Resources|Movement|
||||||resources|expended|in funds|
|Unrestricted||funds||||||
|General|fund||||424,779|(487,134)|(62,355)|
|Gift Day <br>Youth|Designated||Fund||114,530<br>1,960|~450)|114,530<br>1,510|
||||||541,269|(487,584)|53,685|
|Restricted funds||||||||
|Building|Fund||||6,596|(500)|6,096|
|Josh G|||||300|(225)|75|
|Syrian Family||||||(1,192)|(1,192)|
|Hardship|||||500||500|
|Events<br>Members|Gifts||||10,232<br>5,235|(7,821)<br>~5,205)|2,411<br>~50)|
||||||22,863|~15.023)|7,840|
|TOTAL|FUNDS||||564, 132|(502,607)|61,525|





## 

|||||||Net|Transfers||
|---|---|---|---|---|---|---|---|---|
|||||||movement|between|At|
|||||At 1.4.21||in funds|funds|31.3.22|
|Unrestricted<br>funds|||||||||
|General|fund|||595,507||(57,511)|387,218|925,214|
|Gift Day|Designated|Fund||250,067||70,266|(320,333)||
|Youth|||||160|||160|
|||||845,734||12,755|66,885|925,374|
|Restricted<br>funds|||||||||
|Building|Fund|||42,941||3,742|(46,683)||
|Josh G||||||(600)|600||
|Syrian Family||||1,192||||1,192|
|Hardship||||20,802|||(20,802)||
|Events|||||260|3,416||3,676|
|Members|Gifts|||||50||50|
|||||65,195||6,608|~66,885)|4,918|
|TOTAL|FUNDS|||910,929||19,363||930,292|
|Comparative<br>net movement|||in funds, included|in the above are as follows:|||||
|||||||Inconll)lg|Resources|Movement|
|||||||resources|expended|in funds|
|Unrestricted<br>funds|||||||||
|General fund<br>Gift Day Designated||Fund||||413,551<br>70,816|(471,062)<br>~550)|(57,511)<br>70,266|
|||||||484,367|(471,612)|12,755|
|Restricted<br>funds|||||||||
|Building|Fund|||||7,761|(4,019)|3,742|
|Josh G||||||300|(900)|(600)|
|Events<br>Members|Gifts|||||9,583<br>5,050|(6,167)<br>~5,000)|3,416<br>50|
|||||||22,694|~16,086)|6,608|
|TOTAL|FUNDS|||||507,061|~487,698)|19,363|





## 

||||||Net|Transfers||
|---|---|---|---|---|---|---|---|
||||||movement|between|At|
|||||At 1.4.21|in funds|funds|31.3.23|
|Unrestricted||funds||||||
|General|fund|||595,507|(119,866)|468,718|948,564|
|Gift Day|Designated||Fund|250,067|184,796|(434,333)||
|Youth||||160|1,511||4,082|
|||||845,734|66,440|40,472|952,646|
|Restricted funds||||||||
|Building|Fund|||42,941|9,838|(14,183)|38,596|
|Josh G|||||(525)|600|75|
|Syrian Family||||1,192|(1,192)|||
|Hardship<br>Events||||20,802<br>260|500<br>5,827|(20,802)<br>~6,087|500<br>6,087|
|||||65,195|14,448|~40,472)|39,171|
|TOTAL|FUNDS|||910,929|80,888||991,817|



||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
|Unrestricted|funds|||||
|General fund|||838,330|(958,196)|(119,866)|
|Gift Day Designated<br>Youth||Fund|185,346<br>1,960|(550)<br>~450)|184,796<br>1,510|
||||1,025,636|(959,196)|66,440|
|Restricted funds||||||
|Building Fund|||14,357|(4,519)|9,838|
|Josh G|||600|(1,125)|(525)|
|Syrian Family||||(1,192)|(1,192)|
|Hardship|||500||500|
|Events|||19,815|(13,988)|5,827|
|Members<br>Gifts|||10,285|~)0,285)||
||||45,557|~31,)09)|14,448|
|TOTAL FUNDS|||1,071,193|~990,305)|80,888|





## 

|Restricted|Restricted|funds|||||
|---|---|---|---|---|---|---|
|Building|fund||:giving for the building<br>and venue needs ofGrace Church||||
|Members||Gifts|:giving anonymously<br>gifts between<br>member ofGrace||Church||
|Josh G|||:collection<br>and sending offunds|to support Josh Garraway||in Turkey|
|Syrian Family|||: fund set up to enable the church|to purchase<br>required|goods to help settle a||
||||refugee family<br>in Chichester.||||
|Hardship|||:giving to support<br>others through|the Covid-19 crisis.|||
|Events|||:money from charging<br>members|for attending<br>events;|to be|used as the need arises.|



## 

## 



|||2023|2022|
|---|---|---|---|
|INCOME AND ENDOWMENTS||||
|Donations<br>and legacies||||
|Gift aided giving||392,064|330,960|
|Gifts, tithes &offerings||58,304|81,960|
|Gift aid||98,742|82,969|
|||549,110|495,889|
|Investment<br>income||||
|Rents received||1,776|412|
|Deposit account interest||227|3|
|||2,003|415|
|Charitable<br>activities||||
|Church activities||13,019|10,757|
|Total incoming<br>resources||564,132|507,061|
|EXPENDITURE||||
|Charitable<br>activities||||
|Wages||218,551|233,388|
|Social security||18,442|18,677|
|Pensions||14,989|16,086|
|Light and heat||7,864|7,095|
|Telephone||1,799|2,847|
|Advertising||3,012|1,354|
|Sundries||4,172|4,383|
|Activities &events||13,762|11,948|
|Conferences &training||14,528|12,377|
|Equipment<br>costs||7,456|13,685|
|Leadership<br>team||5,686|3,182|
|Printing,<br>postage & stationary||3,799|3,993|
|Rent, rates &service charges||33,886|24,227|
|Repairs &maintenance||5,934|20,442|
|Running<br>costs||2,414|1,323|
|Sundry payroll costs||784|739|
|The youth &children||18,597|15,474|
|Travel &subsistence||4,489|2,999|
|Worship<br>team||631|169|
|Ministries||1,193|247|
|Freehold property||7,295|7,295|
|Plant and machinery||1,849|1,849|
|Computer<br>equipment||2,150|2,896|
|Loss on sale oftangible|fixed assets||278|
|Carried forward||393,282|406,953|





||||2023|2022|
|---|---|---|---|---|
|||||E|
|Charitable<br>activities|||||
|Brought forward|||393,282|406,953|
|Grants to institutions|||55,739|34,040|
|Grants to individuals|||12,568|10,381|
||||461,589|451,374|
|Support costs|||||
|Finance|||||
|Bank charges|||1,294|1,085|
|Bank loan charges and interest|||30,849|27,910|
||||32,143|28,995|
|Governance|costs||||
|Independent|examination|fees|4,680|3,780|
|Insurance|||4,147|3,501|
|Professional|fees||48|48|
||||8,875|7,329|
|Total resources|expended||502,607|487,698|
|Net income|||61,525|19,363|