REGISTERED COMPANY NUMBER: 06056250 (England and Wales) REGISTERED CHARITY NUMBER: 1118739 Report of the Trustees and Finaneial Stalements for the Year Ended 31st March 2024 for Graee Church Chlchester Sheen SticklJnd Chartered Accounlanls 7 East Pallant Chichester West Sussex P019 ITR Grace Chureh Chichester Contents of the Financial Statements for the Year Ended 31st March 2024 Page Report of the Trustees Independent Examiner's Report Statement of Flnancial Aetivltles 10 Balanee Sheet Cash Flow Statement 13 Notes to th¢ Cash Flow Statement 14 Notes to the Fln4n¢ial Statement$ 15 10 23 Detalled Statement of Tr InanLial Aetlvl¢le$ 24 to 25 Grace Church Chichester Report of the Trustees ror the Year Ended 31st March 2024 Th¢ trustees who arc also directors ot Ihc. Lharity for the pU￿oseS of the Companies Act 2006, PTesent their report with the financial statements uf the Lh(Irity fur the yeai ended 3 1st March 2024. The trustees have adopted the provisions of Accounting and Reporling by Charities.. Sialement of Recommended Prdclice applicable to charilies preparing their acLounts in accordance with the Financial Reporting Standard applicable in th¢ UK and R¢public of Ireland (FRS 102) (effcctivc l January 2019). Page I Grace Church Chiehester Report of the Trustees for ihe Year F,nded 31st March 2024 OBJECTIVES AND ACTIVITIES Objectives and aims The objeclives of ihe charily. as laid oul in the governing docurnenl, are- (a) To advanLL' Ihc Chri5tldn faith in accordance with the Statement of Beli¢fs, in such ways and in such parts of Chichester, Ihc United Kingdom and the World as the Iruslees see fil. (b) To advance the Christian faith in accordance with the Statement of Beliefs, in such ways and in %uch parts of Chichester, the United Kingdom and the World as the Iruslees see fil. The mcmbcr% of thc ch(Irity believe that a per¥onal knowledge of and rclationship with Je¥u,% Christ, thc Son of God. is a life transfonning cxpcricnce. The Bible teaches Ihal all Christian% 8hould gather to forjn a local church (the church being thL people, not the veniie thtit they meet in). This Christitin Lommunity is therefore madc up of many individuals - a galhcring of ordinary peuple, youngy and old, male tind femiilc, riLh (Ind poor, all nationaliliL's, baLkgrounds. slalus elc who coine together beLause their lives have been changed by Jcsus Chrisl IR¢v¢lalioii 7 v 9 describcs Ihe churcli as "a great miillittidc thai no onc could coiinl, from cvcry nation, Iribe, people and languagie"). Tlie Bible says that thc Church, this community of pcoplc, when properly laught and carcd for, by loviiig and serving Jesus Christ will also be Lommitted to love and carc for cach other aiid lo make a differcncc to tlie area in which Iliey livc and lo furthcr aficld. Cjrace Church, ils Tnislees, F.Iders, and members are commiltcd to building a church family that cl()8cly reflec18 New Testament principles. Grace Church is not alone in thi%, Ihcrc are many chLirchLS all aroiind Ihc world that sharc thi belief and desire to see people all over the world Come into a p¢rsonal experiLncc of knowing Jc8iis Christ as thcir LL)rd, Saviuur, and fi'iend. In partlLular, Grace ChiirLh works closely with other chiirches that are part of the Commis%ion group of Churches lo help tultil this vision worldwide. Gracc Lhiirch believc8 that the sprcad of the Chrislian faith brings with it great publAC benefil. 'I'lie Chrislian faiih includes a vision for peacc and social harniony. and that tailli givcs mcaning and piirpos¢ lo pcoplc's livcs and conlribiiles lo their well-being. As the charity undcrtakcs its activitie5 and fuifils ils objectives, w¢ Lxp¢LI to scc many people becominbi Chrisliaiis, slartiiigy, and developing their own rclalionship witli Jesus Christ. and this will havc Ilic eltecl of Iransfom)ing individual live8, faniilies and whole sociclic8 for good. The Christian Church, whcn opcralin8 corrcctly will Iransniit morals, cthics and values lo this and thture generations and crcate societal bonds and cohesion Ihal will ovcrconic all barricrs. People are most likely to become disciple8 of J¢sLlS and grow in their Christian faith if Christians liv¢ a Chrisl-likc life dmongst them, share the good news of Jc¥ii%, demonstratc God's love, and prayerfully expe¢t the Eloly Spirit's power to Iransfomi individuals, commiinities and whole naliuns. This is be%1 done thrLTrugh the Chur¢h and il.% activities. I'he beliefs and pi-iicIiLe8 of the Christian Chiirch are therLfore capable of advanLing religion for the purposLs uf Lharily law and promoting (he niorals and ethics of Ilie Christian failh is deemed in law to be capable of impaLling upon Ilie public in a beneficial way. The last year has seen Grace Church retyrn to a Icvcl of normality following the global COVID-19 pandcinic. Indeed, alihoub>li some n)enibers did not return aftcr tlie various nationwide lockdowns, many n¢w pcople have joiiied all thr¢¢ geographic sites of the church iii ChiLhcstcr, Bognor and Havanl. Attci)dance numbcr.g are now back up to prc- pandemic levels. Grace Church has ￿lfill¢d the above objectives by.. Holding regular church meetings in person. These meetings have been to worship Clod and to train, teaLh and Lare for the church members. to equip them as eftective Christian%. In addition, the ChichL'ster site is audio-.strLamLd live online each week, and a weekly prayer meelingi takes place via zoom. Prea¢liing th¢ gospcl, and planning and implem¢nting an on-goingF slratcgy ot evangelism in our principal locations as w¢ll as Ihcir surrounding areas. ProvidinL' pagtoral .support and care (and practical qupporl and provi%ic)n whcre appropriate) for tliose who participate. Facilitating and equipping tcams of volunteers to run church activities, to carc for on¢-anoih¢r and to share the g05pcI with othcrs. Page 2 Grace Church Chichester Report of the Trustees for the Year Ended 31st March 2024 Providing training and encouragement to all individuals to live a Christ-lik¢ lifestyle of prayer commitm¢nl lo God. Continuing to run or support a rang¢ of 'Grac¢Works' projects that directly provid¢ social bcncfit and care to the community. To achieve this, amongst other things the principal activities of the church have included.. Weekly meetings in Chichester, Bognor Regis and Havant. Mid-week "Grace groiips" These are small groups of about 10-15 people that nonnally meet in homes during the week. are led by volunteers and enable all church members to 8UPPOrt. encourage and build eaLh otlier up in Ihe Christian faith. (irace Chiirch now operates 19 Grace groups serving over 300 people. Meetings for specific interest groups - Amongsl otliers, Ihcsc includ¢ a students and 20's ministry, a group for adulls with additional needs. both men's and wom¢n's minislrics, and two par¢nl and toddlers, group and other activities serving the community including a Zumba class. Youth Groups - This normally includes Sunday moming Bible and discipleship classes. and a varied programme of Friday evening events including a youth wcek away, known as Ncwday, wh¢re our youth gather in the first week of. August with thousands of other yoiiih from churches across the UK. Alpha Coui'se - The Alpha Course 1% an internationally rccognised Lourse that enables people who do not yet attend a church and have no Christian faith to engage wilh the Lhiirch and begin a joumey toward.s iinderslanding and accepting the Chrislian faiih, During this ycar the Church has run an Alpha Course at the Grace Cenlre and in local homes in Bognor and Havanl. Outreacli cvcnls - In 2023124 the church hcld four siicccssful Christmas ¢arol scrviecs and inviied people from the local communitics through various fornis of advertising including singing carols in the streets and sliopping ccnlrc. DisciplL'%hip coiirscs - Through Ihc ycar the church has run a number of disciplcship coiirses and events open lo church mcmbLr8 as well as the piibliL ul largye. ThcsL have rangcd from basic Chrisliuii discipleship groups to more advanccd training events dcaling with pa%loral support and Christian growth, including cour5et> aimed al speLific needs. These courses wcre run onliiie (Ind would inclLide'. PrL-marriage counselling and guidance for people getting matTied. Bela Course (A follow on course from Alplia which helps people further develop their faith). Dccp¢r in th¢ Word (A coiirsc to lielp peopl¢ have a greatcr understanding of the Bible). Youiigy Adults (our .8iudents and 20s group) - Chichester and Bognor Regis both have campuses of Chicl)esler Uiiivergily with many sludenls altcnding from homcs acro.s.s thc UK and furlher aficld. The churcl) has provided a specific Young Adults groiip to support these young pcoplc. to help them settle in a new place, lo makc triends, to hLIp equip them for life, and lo help Ihcm grow in dnd share their Christian faith. Tuesday Groiip - Thc Chur¢h opcratC5 a groiip for adiilts with additional nccds callcd "Tuesday Group and serves people who are both part of the church and those who attended trom a Lare-home in Singleton. l O. Children's Groups - The church ha% an exciting progi'amme uf activiliLs for the children who normally attend on a Siinday in all 3 of oiir Sunday mecling 51tes. Tliis is divided inlo Iwo groups - Grace Kids (Preschoolers) for pre-school children, and Grace Kid8, for primary school ¢hildren. Our primary agcd children contiiiiie lo cnjoy our new approach lo Sunday Inorning gatherings with using in-hous¢ produL¢d multi-nicdia conlent including story-telling, worship videos and prayer points. Toddler Group The Church's toddler ministry, "LiiilL' Bcars" has scen substantial growth in our Bognor and Chichester siles. These popular groups for young childr¢n and their parcnts I carcrs now allracl 90+ pcopl¢ weekly tor oiir 90-minute Thiirsday morning sessions. 12. Adoption Support Group - In February 2024, the church launLhed a support group for families who havL' adopted or are in IhL pfoLe.ss of adopting. childr¢n. Initially running with & core of adoption families from Gra¢L Church, the group has expanded to incliide those from other churlhes in (he area as well as those wh() don'l allend LhurLh. Pray¢r meetings Prayer is a vital clcment of the Christian lite and thc ¢hur¢h holds r¢glllar prayer m¢¢lings throughout Ilie year. In addition to rcgiilar in-person pray¢r meetings, we continue tu run a w¢¢kly Monday morniiig praycr Zoom at 6=30am, this attracts up to 30 people to pray tOblLther each week. 14. Training and Equipping Leaders Gracc Church has encourdgcd and supported new leader5 Within the Church through the Commission Leadership Foiindaltons and Advanecd Grddiiate Traiiiing Courses. These courses are n by tlie Commission Apostolic Tru.%t in conjunction with Ihc Union School of Theology. 13. Page 3 Grace Church Chlchester Report of the Trustees for the Year Ended 31st March 2024 15. Along with other churches in the Commission apustolic spheTe, Grace Church allended the Commission FLstival 2023, this is the first large conference Ilie church had allended since 2019 (due lo the Covid-19 pandemic). The event, held ai the Royal Bath and West Showground, Shcplon Mallet. brought 3000+ cvangclical Chrislians logelher to worship God and learn and grow togcthcr. Son]c 200 Grace Church pcoplc atlcndLd and WL albo host¢d 17 people (rom B¢acon Lhur¢h Selsey. We have also held other activities throughout thc ycar to mcct thc needs of the church. The church incrc(Isingly has people from other nations aiid ethnicity joining. Rc¢ogni8ing this, we have held events to cclcbraie r(Icial diversity in the church to ensure that the church remains inclusive and honouring of all ils members. This has also proven lo be very siiccessful. Many people have moved into the area or connected with the church. We have hLld several "New MembLI' mornings lo introduce people to the workings of the church. Oiir popular Zumba class outreach has continued to run Monday evenings througlioul the year with a mixcd conlingcnl of Gracc Lhurch pcopl¢ and guests attending ¢ach wc¢k. 18. The above list of activities is just a snapshot of the church's activities. The full li81 of Ihc church's event8 and engagemcnls would be loo long lo list in full and would almost ccrlainly miss out somc aclivilics. This is particularly the casc because almost all that the church docs is rcsourL'ed, managLd and led by l(Irge ILams of volunleLrs. Mo%t members ot. Grac¢ Church are actively involved in serving in somc way or other and many people arc involved with several teams. It WOLild not be an overstatement to say that the niimbcr of people involved a¥ a volunlccr in some way each week would riin into the hundi'ed.s if thcy werc Lounted. A8 well as the church's organised teams of volunteers many members of Grace ChLirch are also involvLd in helping and supporting other members on a pastoral level and everyone is encouraged lo live a Christ-like lifcslyle tlial engages posilively with Iliose aruund them and allively does good lo ihose Ihey meel. Page 4 Grace Church Chiehester Report of the Trustees for the Year Ended 31st March 2024 STRATEGIC REPORT AchicvLment performance Charfitable activilies Grace Church continues lo operate as a multi-site church and the Trustees and Elders are pleased to report that all siles are strong and well-eslablished, bul th¢ church r¢mains flexible in the way that th¢ ministry is fulfilled lo enable further capacity aiid capability for growth. Development plans al the Grace Centre have continued with the progression through 2023 of plans to reconfigure the office space on the first floor to remove the old toilets and breakout spacc lo create a new officc, accessible toilet and mccling room. The creation of the additional office will enable the church lo make beller iise of the existing kitchcnlmeeling room, which has, iinlil now been used as an office Spiice for a mernber of staff. The ChLirch continues to bc ably served by ils Eldership team. Thi5 team consists of Joe Leach (Lead Elder), Tony Dark, Thomas Bishop, Sieve Blaber, Jonny Holder and Simpson Charllon. As Grace Church is a mulii-sile chur¢li, Ilie church's team of sile-speLifiL leaders continue lo operate well. This leam of thirtccn mcmbers regularly mccls with the cliurch senior l¢adorship and provides a pernianeni l¢adcrship presence al the thr¢¢ silcs to lead all aLtivilics rL'laling lo thal site. Gracc Cliurcli also continues to take an a¢tiv¢ rolc in ils local communitics. The Church's 'GraceWorks" programme cncompasses many of its activities iii the community. Such activities include.. Foodbank The Trussell Trust is a national Christian charily that works through partnership wilh groups of local churches to providc Foodbanks, emcrgcncy food supplie8 for anyone in crisis. Gracc Church support.s Foodbaiik in several ways incliiding providing volunleering and food collection. In addition, this last ycar members of Ihc chiirch prepared and dclivLrLd 134 gift and food parcels to foodbank.s and lo a C,hiche%lcr CLnlre for those in temporary accommDddtion al Christma.¥. Pregnancy Options Centre in Chichester - Grace ChurLh 1.4 pleased to support Ihe work of the Pregnancy Options Centre. The aim of this charity is lo see loving kindness at work in oiir commiinily. The Options team offer Iinderslaiiding, ¢onipassion and practical care lor those in pregnancy crisis situations. Support for inlemational missions continii¢d tluou¥h our partnersliips wilh Compassion in the Philippines. BreJdTrusl in Ukrain¢. Wc also conlinucd 10 5UPPOrt Josh Qarraway, who works with a Christian Charity in Ankara, Turkey. The church has continiied to be part of the Commission family of rhurchcs. Grace Church has supported Commission financially and practically by providing leadership inpiit to support Commission's Churches around the Soiith and Southwest of England. ThL Trustee5 are very gratefiil to the number of volunteers thill serve so laiihfiilly each week. Withoiit the hundreds of pL'opIL' who give up their liine and Lnergy the chiirch would not bL' able lo fulfil its ainis and objectives. Page 5 Grace Church Chichester Report of the Trustees for the Year Ended 31st March 2024 STRATEGIC REPORT Financial revieiv Financial position The Trustees ¢ind F.Iders sel a budgiel (InLome and Fxpenditure) al the starl of the year and this Wtis munilored Llusely throiigh the year with the 'l'ruslees and Llders receiving monthly written reports. as well as verbal reports during "I"rustee and Elders meelings. 2023124 expenditure was originally budgeted at £545,015 and th¢ Truste¢s and Eldcrs agreed to ty and achieve enough incom¢ to match this annual expenditure budgel. Budgyels were monitored rnonthly and variations to Ihc budgcl were prescntcd lo Trustees Ihroughoul the year for approval. These referred lo ¢hanges in donation Irendb and reduced/ incrca.sed in aiiticipaled c0515 (Grace Centre Mortgage interest rates, venue rentals. materials costs, energy priccs etc). Excliiding coiiti'ibutions to the restricted Eluildings Fund, Grace Chiirch finished this year with a total incorne of £573,91 o from gifts received in regular offerin&ys and speLial (gift day) offerings. As well as other inLome of £5,220 to support the cost of Grace Chiirch participation in the Newday Youth Festival, £6,000 lo siipport hardship for those in the Lhurch and community in need, and £4,152 in gifts to suppiirt the Buildings fund. Ai year end the end of the year churLh tolal expendilure was £546,505, resulting in an income sU￿lUS of £37.557. We continue lo generate the majority of our incom¢ through rcgiilar donations from church members and visitors. No Icgacies wcrc r¢¢civ¢d during th¢ ycar. Trustees and Eldcrs continue lo rcview all inconies ai)d expenses closely, forecasting month by month, paying Close attention to any polcnlial risks and irnpacts. Grace Church finished this year with a gcncral fund balance of £966,034. Thc Building Fuiid stands ai L37,867. The8C rcmaining building fiinds will be designated towtird% thc dcvclopment and Continued rcnovalion ol. the Grace Centre and specifiLally Ihe improvements to the office suitc mcnlioned above. 'rhe TrLlStees and Elder5 are therefore plc(Ised lo report that the financial performance of the church i5 Steiidy this year and are Lonfidenl Ihal the LhurLh operliles good financial controlb. This Can b¢ ¢viden¢ed in the atl¢lLhed accouiils. Plans for Future PLriods Th¢ church is now firmly back on its fcct following the pandcmic. Weekly attendance has grown substantially lo an averagc of 350 altendiiig al Ilic ycar cnd. This is coiisid¢rablL growth comparing lo 275 81 the .¥am¢ limc thL prcvi()ug ycar. Thc church is thcrcforc now in a slrong position to consider aetivitics in Ihc coming year which will further serve the community and bc more missioii tocussed. D¥spilc the impact of the war in UkrainL and the world financial siliiation, inflation rises and the cost of living crisis, the church has fared remarkably well but is preparcd foi. ongoing unccrtainty. Whilst being aware of th¢ possible impact oli chiirch fiiiances, we continiie to respond to both church mcmbers and those in oiir commiinilics, whcre additional financial and pastoral support to overcome hardship may be required. The trustees and management are continuing to assess risks to the chiirch and charily incorne. which whilst not immediately impacted by this crisis, is likely to scc change as a resiill of any economic downturn and the inevitable implications on the employnienl of members uf Ilic church. However, thc Church continues to operate a similar rangc of aclivities for the coming year, ensuring our religious and educational aims are fulfilled. S'I'RUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Charity was crcated by Mernorandum and Articles of Association, incorporated on 17 January 2007. Reeruitment and appointment of new trustce$ Vacancie8 ￿L. filled from within the church membership (or if suitable experience andlor skill is not available, from other Christian churches with whom the church is in good relationship). The Church Elders and Trustees will nominate. discuss, and approve any candidates for the role of Trustec. The individual is thcn rcquired to coniplete an application from siting rclcvant ¢Ap¢ri¢n¢e and skills and inlcrvicwcd by al least one tncillbcr of Ihc Eldership and Trustee team. After revicw and Iccdback lo Ilie rest of the Elder5hip and Trustees, if everyonc agrccs 11)c individual will be appoinl¢d. Page 6 Grace Church Chichester Report of the Trustees for the Year Ended 31st Mareh 2024 STRUCTURL, GOVERNANCF. AND MANAGEMENT Dccision makAng structure The day-to-day work of the Lharity is tnanaged by the Eldership teatn and all decision-making aulhorily is dclegated io this team. The Eldership team meets with the Trustees at least quarterly and will report on progress. issues. finances. and any other relevant items. The Trustees are available to the Eldership for discussion by telephone, email. or facc to face bettve¢n Trustee meetings if needed. Induction and tralning of neiv trustees All new Trustees are given appropriate briefing and induction training by the Lead Elder ai)dlor Chair of Trustec8. They will be made aware of relevant Charity Commissioii piiblicalions that they can access via the Charity Commi88ion's web$itc. They are also invited to altei)d relevant Iraiiiiiig event% hoslLd by Ihe Cornmission family of chiirche% lo which Gracc Church belongs. Wider Network l Relations: Grace Chiirch has membership and/or relationship with several widLr organisations as detailed below: Cjrace Church 18 part of the Commission family of Churchcs, which is part of Newfrontiers. Grace ChurLh 14 a mcmbLr of the EvangeliLal Alliance. Grace Lhurch plays a part in loLal nctworks of LhLirLhes including Churchcs Together in Chiche8ter, Churchcs .1 ogether in Bognor Regis and Chur¢hes Together in Havant . Grace Church coiilinues ils partnership wilh Compassion UK lo financially siipporl the work of die Lainbs of God Child Siirvival Unil in Ilie Philippincs. In addition to this. individual mcmbcrs of the churcli Sponsor approximalely 170 children Ihrou&yh Compassion UK. Other rLlaled parties and Sub%idiarics'. None Risk management All aLtivities of the Lhiirlh are covered by ri8k assessments and actions are tuken lo minimise &ill operating risks lo an IILLeptable li'vel. Risk Assessments arL' monitored and reviewed regularly by the chiirLh's Operations Manager on behalf of, and with support froni, Ihe Trusiecs. The largest individual risk to the church has been idcnlified as th¢ death or incapacity of a mcmbcr of thc church's lead¢rship team. If such a thin8 were to occur, the I'rustccs and other mcmb¢rs of thi l¢ad¢rship tcam would m¢¢t with thc senior rcgional leaders from th¢ Commission network of churches to discuss and agree what actions need to b¢ takcn to enable the church to continue to function and meet its goals and objcctives. Publlc benefit The Charity acknowledges ils requirement to demonstrale Clearly that il must havc charilablc piirposL.8 or 'aim8' that are for the public benefit. Details ol how the Charity has achieved thi% arL provided within thi.8 rLport. Thc trii%leL's confimi thdt they have paid due regard to thL Charity Commission guidance on publiL benefit before deLiding whal activities thL' Charity should undertake. REFERENCE AND ADMINISTIL41'1VE DETAILS Regi5tLr¢d Company number 06056250 {F.ngland and Wales) Registered Charity number 1118739 Registered office The Grace Centre 29 Tern]inus Road Chivhester West Siissex P019 8TX Page 7 Grace Church Chichester Report of the Trustees for the Year Ended 31st March 2024 Trustees S L Blaber Chair J L Groves Mrs K Bishop D E Nicholls J Leach T Goodge Company Secretary S D Taylor Independent Examiner Paul Wright fcA DChA Sheen Sticklana Chartered Accountants 7 fast Pallant Chicliester Wesl Susscx P019 11'R Bankers HSBC Baiik PIC 4 Robcrtson Street Ha%tings Ea5l SLISSCX TN34 IHW Senior Staff members to whom dally mana&FL'ment of thc Charity is delegated Joseph Leach Johnny Holder Anthony Dark Simon Taylor Lead Elder Eldcr Edlcr Op¢rali0118 Manager Report of Ihc trust cs, incorporating a strategic rcporl, approved by ordcr of the board of Iru%tccs, as Ihc company directors, on and signed on thc board's behalf by: J Leach - Trustee Page 8 Independent Examiner's Report to the Trustees of Grace Church Chichester Independent examiner's report to the trustees of Grace Church Chiehester{'the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 3 1st March 2024. Respon$ibiliÉies and basis of report A.$ the charity's truslecs ol. the Company (and also its diieLturs for the purposes of company law) you are responsible for Ihc preparation of the ilLLounts- in iiLLurd%ince with the requireTnentb of the Companie5 ALt 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required lo be audited undcr Part 16 of the 2006 Act and are eligibl¢ for independent examination, I report in respect of my cxamination of your charity's accounts as ¢arri¢d oul under Section 145 of Ihc Charitics ALt 2011 ('thc 201 l Act'}. In canying out my examination I have followed th¢ Dircctions given by the Charity Commi.q%ion undcr Scction 145(5) (b) of the 2011 Act. Independent examiner's statement Since yoiir charity's gross income exceeded £250,000 your cxaminer mLisI be a mcmbcr of a lisled body. I can confinn that l am qualified lo undertake the examination becausc l am a member of the In¥tilutc of Chartered Accountants in England and Wales. which is one of the listed bi)dies. have Lompleled my exainination. I confirni that no inatlers have come to rny altenlion in connection with the examination giving me cause to believe.. aLLounting record% wcrL' not kept in respect of the Company as required by SeLlion 386 of the 2006 A¢l,' or the accounts do not IlLLord wilh those reLords' or tlie accounts do not comply willi Ihe accoiinling requirements of Section 396 of Ihc 2006 Act other than any requirement Ihal the accounts give a true and fair vi¢w which is not a Inatler considered as part of an indcpeiidenl ¢xamination' or the accounts have not bccn prcpared in aLcordance with Ihc mcthods and prinLiples of the Slatemei)l of RL'commendcd Practice for accounting and reportiiig by charitie.4 (applicable lo chdrilie.s prcparing their dLcounts in accordance with the Financial Reporting Standard (IppIiLablL' in Ihe UK and Republic of Irelund (FRS 102)). I have Tho concerns and have come aLr0￿>s no other matters in connection with the exarninalion lo whiLh attention should b¢ drawn in Illib reporl in ord¢r lo endible a proper iind¢rslandin&F of the accoiinls lo be reached. Paul Wright FC'A DChA Sheen StlLkland Chartcred Accounianls 7 r,ast Pallanl Cliichest¢r West Suss¢x P019 ITR Date: Page 9 Grace Church Chiehester Statement of Finaneial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31st March 2024 2024 Total funds 2023 Total funds Unr¢slri¢l¢d funds Restri¢led funds Not¢s ILYCOME AND ENDOWMENTS FROM Donatioiis and legacies 563.482 11,602 575,084 549,110 Charitable activltles Church Activities 5.321 5.321 l3.019 Investment income 3,657 3.657 2.003 Total 572,460 11,602 584,062 564,132 EXPENDITURE ON Charltable Activities ChLifLh ALtivilie% 487.724 3,407 491.131 502,607 Other 55,374 55.374 Total 543 098 3,407 546,505 502,607 NET INCOME Transfers between funds 29,362 8,195 37,557 61,525 17 Net movemenl In funds 32,361 5,196 37,557 61,525 RECONCILIATION OF FUNDS Total tunds broiight forward 952,646 39,171 991,817 930,292 TOTAL FUNDS CARRIED FORWARD 985,007 1,029,374 991817 The notes Form parl of these financial slalen)ents Page 10 Grace Church Chichester Balance Sheet 31st MAreh 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Nofrs FIXED ASSETS Tangible assets ,584,332 1.584.132 1.595.102 CURRENT ASSETS Dcbtors Cash at bank and in hand 12 95,810 102 339 654 96,464 146,052 103,641 127.262 198.149 44,367 242,516 230,903 CREDITORS Aniounts falliiig due wiihin onc year 13 (26.760) (26,760) (66.365) NTr:T CURRENT ASSETS 171,389 215 756 164,538 TO'fAL ASSETS I,b SS CURRENT LIABILITIES 1,755,721 44,367 1,800,088 1,759,640 CREDITORS Amounts falling duc after more than one ycar 14 (770,714) (770,714) (767,823) NET ASSTr'rs 9t15,007 1.029 374 991817 FUNDS Unrestricied funds Rcstricted funds 17 985,007 952,646 TOTAI. FUNDS 1,029 374 991817 The charitable company is entitled to exemptioii from aiidil under SeLlion 477 of the Companies Acl 2006 for the year ended 3 1st March 2024. The Inembers huve not required Ihc Lompany lo obiain an audit of ils finanLial stalernents for the year ended 3 1st March 2024 in accordance with Seclion 476 of Ihc Companies Act 2006. The truslccs acknowledge their responsibilities for (a) en.SLiring that the charitable company kccps accoui)ting records that comply with Sections 386 and 387 of the Companics Act 2006 and preparing findllLial statements which give a true and fair view of the stale of affairs ot" the charitable company as at the end of each financial year and uf it% sutpliis or defiLit For L￿h financial year in accordanLL Wlth thL reqiiiremcn15 of Sections 394 and 395 and which otlienvise ¢omply will) thc reqLiiremenls of the Lompunies Alt 2006 r¢laling to financial stat¢ments, so far as applicable to thc charilablc ¢ompany. {b) The financia ,talemcnls were approved by the Board of Trustees and authnrised for issue on and wer¢ signed on its behalf by- The notes forni part of these financial slalenients Page 11 continued... Grace Church Chlchester Balance Sheet - Continued 3 1st Iwlarch 2024 J Leach - Trustee S L Blaber - Truslcc Th¢ notes fomi part of Ilies¢ financial slalemenls Page 12 Grace Church Chichester Cash Flow Statement for the Year Ended 31st March 2024 2024 2023 Notes Cash flows from operatlng Yd¢tivitie$ Cash gen¢ral¢d from operations Interest paid 89,413 59.245} 75,413 30,849 Net cash provided by operating activitics 30,168 Cash flojvs from investing activitles Interest reLLivLd 714 227 Net cash provid¢d by investing activities 714 227 Cash flows from financing actlvltles Loan repayments in year 12,092 24,055 Nel Cash usLd in financing activities l 2.092) 24.055) Change in cash and cash equlvalents In the rcporling perlod Cash and cash equivalents at the beginnlng of the reporting period 18,790 20,736 127262 106 526 Cash and cash equivAlents at the end of the reporting period 146052 127 262 Th¢ not¢s form part of these financial staiem¢nts Page 13 Grace Church Chichester Notes to the Cash Flow Statement for the Year Ended 31st March 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATIIYG ACTIVITIES 2024 2023 Net income for the reporting period (as per the Statement of FinAn¢ial Actlvities) Adjustments for.. Depreciation charges Interest received Interest paid Decreasel(increase) in debtors Decrease in creditors 37,557 61,525 10,770 (714) 59,245 7,177 24,622 11,294 (227) 30.849 (15,771) 12 257) Net cash provided by operations ANALYSIS OF CHANGES IN NET DFBT Al 1.4.23 Cash flow At 31.3.24 Nel cash Cash al bank and in hand 127262 18,790 146 052 127262 18,790 146 052 Debt Debis falling due within l yL'ar Debis falling du¢ aficr l ycar (32,251) 767,823) 14,983 2,891) (17,268) 770,714) 800 074) 12,092 787 982) Total 672,812 30,882 641930) The notes forn] parl of th¢se financial slalements Page 14 Grace Church Chichester Notes to the Financial Statements for the Year Ended 31st March 2024 ACCOUNTING POLICIES Basis of preparing the financial Statements The financial statements of th¢ charitable company. which is a public bcnefit entity under FRS 102. have bccn prcpared in accordan¢¢ with th¢ Charities SORP (FRS 102) 'Accounting ai)d Reporting by Charities.. Slatcmcnl of Rccommended Practic¢ applicable lo charities preparing their aL¢ounls in accordance willi Ihc Financial Reportiiig Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ircland, and the Companies Act 2006. The financial statements hiive been prepared under the hi8torical cost convcnlion. Income All income is recognised in the Statement of Financial Activities once the charity has entitl¢menl lo the funds, it is probiiblL that the incorne will be received and the amount can b¢ measiired reliably. Expenditure Liabililics arc recognised as expenditurc as soon as Ihere is a legal or constructiv¢ obli8alion coinmitting the cliarity lo that cxpendilure, it is probablc that a Iranst¢r of econumic benefiis will bc r¢qiiirLd in sciil¢m¢nl and th¢ amouni of the obligation can bc measured rcliably. Expcndiiure is accountcd for on an accruals basis and has been classified under heading8 that aggregate all co8t r¢latcd lo the Calcgory. Wliere costs cannot be dircctly attributed lo particular hcadings they have been allocated to aclivitics on a basis coiisisleiil with Ihc use of resoiirccs. Grants offcrcd 8Libjccl lo condition% which have not bccn rnct at the year end dale arc nolLd as a commitment bul not accrued as expendittire. Govcrn4nce eosls (Tovernance costs inLliide costs of Ihc preparation &ind examination ot. slatulory aclounls, Ihe cosls of Ihc trustees, mcctings and cost of any Icgal advicc io Ihc truslees on governance or constilulional mallers. TAngible flxed assets D¢prccialion is providcd al thc following annual ratcs in ordcr lo wrilc off each asset over 115 ¢slimatcd uscful life. Freehold properly Computer eqiiipment 20/0 on cost 330/0 on rediicing balance Tangible fixed assets for iise by the Charity are capilalised if they have a useful life of murL' than one year and cost al leasl £2,000. They are valued al cost or, if gifted, al the valLIL lo the Charity i)n receipt. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted fijnds can be used in accordance with the charitable objectives al the discretion of the trustees. Restricted ￿lld$ Lan only be used for particular restricted purposes within the objects of the charity. Restriction4 arise when specified by thL donor or when fund8 dre raised for particular re8lri¢ted purposes. Further eXpl￿atIon of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-rctircment benefits The charitable company operates a dLfined contribution pension schenie. Conlribulions payable to the charitablc company's pension schen]c charged to thc StatcmLnl of Financial Activities in the period to which Ihey relate. Page 15 continued... Grace Chureh Chichester Notes to the Flnancial Statements- continued for the Year Ended 31st March 2024 ACCOUNTJNG POLICIES - continued Operating lease Commitments Rentals pxid under opLrating Icascs are char&Fcd to the profit and loss account on a straight line basis over the p¥riod of thc Icase. DONATION.S AND LEGACIE. 2024 2023 Gift aided giving Gifis. liihcb & offerings Gifi aid 384,885 92,592 97,607 392,063 58.30.5 98,742 575 084 549 110 INVESTMENT INCOME 2024 2023 Rents received Deposit account interest 2,943 714 1,776 227 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity C'hurch Activities C:hurLh activitie5 13,019 CIIARITABLE ACTIVITIES COSTS Gr&nt nding of activitie.% {8cc note Support Costs (see Iiole 7) Dircct Costs 6) Totals Chiirch Activities 422,678 12,704 491 131 GRANTS PAYABLE 2024 202.3 Church Aclivitics Grants made to institutions and individuals for thL turtherance of the Charity's objects were: Institutions Foodbank Heart Breadirust Appeal Pregnaiicy Options Centre, Chichester John 3..16 BRYCC ComFesl 3,195 2,407 5,000 1,500 600 1,000 5.000 Pag¢ 16 ¢ontinued... Grace Church Chichester Notes to the Flnanclal Statements- continued for the Year Ended 31st Mareh 2024 CRANTS PAYABL&: _ continued Ncwday Commission Compassion Gift Other {CAP,Outreach, Bell Towcr, Youth Rescue, Churches Togeth¢r. UCCU) Stonepillow Other 2,000 15,000 8,500 1.235 460 ,740 47,637 Individuals 8,112 SUPPORT COSTS Govemance costs Finance Totals Oilier resources expendcd Church Activities 55,374 4,533 55.374 12,704 8,171 NET INCOMEI(EXPENDITURE) Nel incomel(expenditure) 1% slated after charging/(crediting)'. 2024 2023 Indcpcndcnl cxaminalion fees Deprccialion - owned asseis 4,080 10.770 4,680 TRUSTEES, REMUNEIL4TIOLY AND BENEFITS Diiring the financial year Iriistee Joe Lea¢li the Pdslor received £52,269 (2023.. £50,120) in salary related payments. while pension coiitribulions were made lolalling £3,65912023- £3,508). Trustees, expenses There were no 3 1st March 2023. trustees, expense8 paid for tlie year elided 31stMarLh2024 nor for the year ended No other payments were made to trustees or any PLrsons Lonnected with them during this financial period. Pag¢ 17 conlinued... Grace Church Chlchester Notes to the Fin#n¢ial Stat¢ments - continued for the Year Ended 31st March 2024 io. STAFF COSTS 2024 2023 Wages and salaries Social securily Costs Otlier peiision ci)sls 228,188 18,192 15,639 218.551 18.442 262,019 251,982 The avLI'iigc rnonlhly numbLr of Lmployees during (he year was as follows- 2024 2023 Charitabl¢ activitics No employees received emoliimenls iii excess of £60.000. TAIYGIBLE FIXED ASSETS Freeliold properly Plant and machinery Computer equipment Totals cos'i. At I sl April 2023 and 31 st March 2024 1601945 1648 725 DEPRECIATION Al I sl April 2023 Charge for ye