REGIsfERED COMPANY NUMBEIL. 06056250 (England and Wales) REGlStERED CHARITY NUMBER: 1118739 REPORT OF THE TRusfEES AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR GRACE CHURCH CHICHEsfER Lews Brownlee (Chichester) Limtted Chartered Accountsnts Appledrdm Bams Birdham Road Chichester West Susse P020 7EQ
GRACE CHURCH CHICHEsfER CONTENTS OF THE FINANCIAL sfATEMEKrs FOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Trustees I to 8 Independent Examiner's Report ststement of Financial Activities io Balan Sheet li to 12 Cash Flow Statement 13 Notss to the Cash Flow Ststement 14 Notes to the financial Statements 15 to 22 Detailed Statement of Finanaal ActivitSes 23 to 24
GRACE CHURCH CHICHESTER REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also direttors of the charity for the purtk)ses of the Companies Act 2006, pre*nt their report with the financial siatements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recomrnended prath applioble to charities preparing their accoLsnts In accordan with the Financial Reporbng Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). Page I
GRACE CHURCH cHIcHEER REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2025 OBJECrnIES AND ACTIVITIES Objectives and aims The objectives of the charity, as laid out in the governing d(ument, are: (a) To advance the Chriskn"ar) tarth in accordan with the Statement of Beliets, in such ways and in such parts of Chichester, the United ngdoM and the Wodd as the trustees see fft. To relieve sickness and financial hardship and to promote and preserve good heath by the provision of funds, goods or services of any kind including through the provision of counselling and SUP[rt in such parts of iJichester, the United Kingdom and the World as the trustees see fjt. (b) The members of the charity believe that a personal knowledge of and relationship wff(h Jesus Christ, the Son of God, is a life transforming experien. The Bible teaches that all Christians should gather to form a local church (the church being the people, not the venue that they meet in). This Christkan community is therefore made up of many individuals - gathering of ordinary people, young and old, male and female, rith and pwr, all nats'onalities, backgrounds, ststus etc who come together because their lives have been thanged by Jesus Christ (Revelation 7 v 9 describes the diurch as gat multitude that no one could count, from every nation, tribe, people and language"). The Bible says that the thurth, this communty of people, when properly tsught and cared for, by loving and serving Jesus Christ will also be committed to love and care for each other and to make a differen to the area in whlch they live and to further afield. Grace Church, Its Trustees, Elders, and members are commlited to building a church family that dosely reflects New Testament principles. Grace Church is not alone in this, there a many churches all around the world that share thls belief and desire to see people all over the world come irto a petsonal experience of knowing Jesus Christ as their Lord, Saviour, and friend. In parts'cular, Grace Churth works closely with other churches that a part of the Commission group of Churches to help fulfil this vision worldwide. Grace Church believes that the spread of the rIstian faith brlThJs with fc great public benefit. The Christian faith includes a vision for peace and soaal hamony, and that faith gives meaning and purpo to people's live5 and contributes to their well-being. As the charity undertakes its activities and fulfils its objettives. we expect to see many people becoming Christians, startingi and developing their own relationship with Jesus Christ. and this will have the effect of transforming individual lives, families and whole socteb'es for good. The Christian Church, when operating correctly will transmit mordls, ethics and values to this and future generations and create 9xietal bonds and cohegon that wlll overcome all barriers. People are most likely to become disciples of Jesus and grow in their Christian faith if Christians live a Christ-like life amongst them, Sha the good news of lesus, demonstrate God's love, and prayerfully exrkrt the Holy Spiritrs power to transform individuals, communtties and whole nations. This is best done through the (urCh and ts ath'vts'es. The beliefs and practices of the Christian iUrCh are therefore capable of advancing religion for the purposes of charity law and promotong the morals and ethics of the Chnstian farth is demed in law to be capable of impacting upon the public in a beneficial way. In the last financial year Gra Church has seen rthi Feople get well establish&J into the life of the church with many signing up to volunteer in various roles. At the same time the church has continued to see numerical growth, particularly amongst the 18-20s age group with a notsble influx from the local universtty and college. The church has become more diverse in the makeup of its membership iK)th in ethnicity, age and soooeconomic background. Grace Church has fulfilled the above objettives by: Holding regular church meetings in person. These meetings have been to worship God and to train, teach and care for the church members; to equip them as effective Christians. In addition, the Chichester site is audio-streamed live online eath week, and a weekly prayer meeting tskes pla via zoom. Preaching the gospel, and planning and implementing an on-going strategy of evangelism in our prinapal locations as well as their surrounding areas. Providing pastoral support and care (and practical sUPPOrt and provision where appropriate) for those who par'c1patÈ. Faolitsting and equipping teams of volunteers to run thurch actimtses, to care for one-another and to share the gospel with others. Providing training and encourageJnent to all individuals to live a (riSt-llke lifele of pftyer and commitment to Gc(l. Page 2
GRACE CHURCH CHICHESTER REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2025 Continuing to run or support a range of 'GrewOrkS, projects that direcuy provide social nerrt and Ca to the communty. To achieve this, amongst other things the prinapal athitEs of the thurth have included: Weekty meetings in Chichester, Bognor Regis and HavanL Mid-week "Gra groupg, _ These are small groups of about 10-15 people that normally meet in homes during the week, are led by volunteers and enable all church members to support, encourage and build each other up in the Christian faith. Grace Church now opete5 20 Gra groups tving well over 300 people. Meetings for speiific interest groups - Amongst others, the include a students and 20's ministry, men's and women's ministnes, and I0 parent and toddlers, group and other actNities serving the community including a Zumba da55 which ran for much of the year. Youth Groups - This normally indudes Sunday nv)ming Bible and discipleship classes, and a varied programrne of Friday evening events including a youth week awayi known as Newday, where our youth gather in the first week of August with thousands of other youth from churches across the UK. Alpha Course1321 - The Alpha Course is an intematM)nally CognIsl course that enables people who do not yet attend a church and have no Christyan faith to engage with the church. The church has njn this cour over many years. During the year the church transiboned to a course known as 321 which is a shorter course than Alpha and is run over four weeks. IVS designed to hdp people think aljout God, the World and themselves. It asks the simple, yet profound questi( of What doe5 life look like, aOrdIng to Jesus? Two 321 courses were run in our Chichester site, two in Bo9nor Regis and one in our Havant site. Discipleship Explored - This is a new venture for Grdce Urch and is a follow-on course to 321. It involves bible study and matsrial's relevant to those still exploring the Christian faith or those who are Christians but want to have a greater understanding. There were the courses undertsken during the year. Outreach events - In 2024125 the church held three SU5$fijI thristmas carol Servi and invited people from the local communibes through variou5 forms of aifvertising including singing carols in the streets and shopping centre. Training courses - Through the year the church has run a number of training and other discipleship courses and events oFen to church members as well as the public at large. These have induded leadership development, advanced training events dealing with pa5torBI sUPFQrt and Christian gr0h, and other courses aimed at specific needs. These included: Pre-marriage counselling and guidance for people getting married. Training evenings on various topics includiThJ understsnding Gen Z challenges in our Cultu and those who the church supports wothng in other nations. Young Adults (our Students and 205 group) - ¢Jichester and Bognor Regis both have campuses of Chichester University with many students attending from homes across the UK and fijrther afield. The church has provided a specific Young Adults group to support these young people, to help them settle in a new pla, to make friends, to help equip them for life, and to help them grow in and share their Christian faith. There has been a notsble increa in students joining the church this year and several have become actively involved as part of our musicians, group. Children's Groups - The church has an exciting prcJfamme of activities for the children who normally attend on a Sunday in all 3 of our Sunday meeting sttes. This is divided into 0 groups - Gra Kids (Preschoolers) for pre-school Childn, and Gra Kids, for primary school children. Our primary aged children continue to enjoy our new approach to Sunday morning gathenngs with using in-house produced multi-media content including story-telling, worship videos and prayer Frf)ints. Toddler Group - The Church's tc¥Jdler ministy, 'Little Bearf has continued to thrive and grow in both our Bognor and Chichester sites. These popular groups for ycMJng children and their parents I carers now attrart 90+ people weekly for our 9MinUte Thursday moming session5. Baby Group - a new group "Baby Bears" tegan in 2024 in our Chichester site and is a group for pregnant mums and new mums. Friendship, peer support, singing and sen50ry activities are offered. The group ha5 become very SUC$Ful and continues to grow. Adopb"on Support Group - The church continue5 to run a support group for families who have adopted or are in the process of adopb'ng, Childn. Initially running wth a core of adopts'on families from Gra Church, the group has expanded to indude those from other churthes in the area as well as those who dont attend church. Prdyer meetings - Prèyer is a vitsl element of the Christian life and the church hDlds regular prayer meetings throughout the year. In addition to regular in-person prayer meetings, we continued to run a weekly Monday morning prayer Zoorn at 6:3(km. io. ii. 12. 13. 14. Page 3
GRACE CHURCH CHICHEStER REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2025 15. Training and Equipping Leaders - Gra Church has encour3ged and supwrted new leaders wthin the Church through the Commission Leadership Foundation5 and Advanced Graduate Training Courses. The courw a tun by the Commission Apostolic Trust in conjuncbon with the Union Sch[ of Theology. Along with other churches in the Commission apostolic sphere, Gra Church attended the Commission Festival 2024, a large ConfenCe held at the Royal Bath and West Showground. Shepton Mallet, bringing 3000+ evangelical Christs'ans together to worship God and leam and grow together. 249 Grace Church people attended and we also hosted a group of people from Beacon Churth Selsey. We have also held other activrbe5 throughout the year to ffleet the needs of the church. The church has seen considerable growth from people from other nations and ethnicty. Recognising this, we have worked to ensure every aspect of the Itfe of the church is indusive seeknng to have people from all backgrounds involved in the m any serving OPFortunttie5 across the church. As people have moved into the area or Connled with the churth we have held several "New Memberf, mornlngs to Introdu people to the workings of the church. Our popular Zumba class continued to run Monday evenings throughout the first part of the year with a mixed contingent of Gra Church people and guests attending eath weeL 16. 17. 18. 19, The above list of activitses is just a snapshot of the thurch's attivibes. The fvll list of the church's events and engagements would be too long to list in full and would almost rtainlY miss out some activities. This is particularly the case because almost all that the church dces is resourced, managed and led by large team5 of volunteers. Most member5 of Grace Church are actively Involved in serving in some way or other and many people are involved wlth several teams. It would not be an overstatement to say that the number of people involved as a volunteer in some way each week would run into the hundreds rf they were counted. As well as the church's organised teams of volunteers many members of Grace Church are also invofved in helping and supporting other members on a pastoral level and everyone is encouraged to live a Christ-like lifestyle that engages positively with tho around them and acts'vely does good to those they meet. Page 4
GRACE CHURCH CHICHEsfER REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC REPORT Achievements and performance Charitable artivities Grace Church continues to operdte as a mulb-site church and the T$te and Elders are pl&3sed to report that all sttes are strong and well-estsblished, but the church remains flexible in the way that the ministy is fulfilled to enable further capacity and capability for groth. The redevelopment of the Gra Centre offices and meetÉng rooms on first floor was fijlly completed in 2024. An acce55ible toilet was also installed. Wth the addttion of an extra Offi and a meeting room we were able to offer far more versatile faalities. With our expanding children's work these rmS have provided extra Spa for Sundays whi15t also doubling up as a lounge and meeting area mKlwee The Urch contsnues to be ably Ned ty ts Eldership team. This team consists of Joe Leach (Lead Elder), Tony Dark, Thomas Bishop, Steve Blaber, Jonny Holder and Simpson charOn. As Gratt Church is 3 multi-sts church, the churth's team of sittrswfic leaders continue to operate well. This team of thirteen members regularly meets wtth the thurch senior leadership and provides a permanent leadership presence at the three sites to lead all activities relating to that site. As part of the development of these sff(es the church started to explore the Bognor srte having more autonomy as fc continued to grow in numLErs and have specific plans to reach area. As a result plans were set in place for the site to become a separate churd) in the futu. Grace Church also continues to take an artNe role in tts Itxal communities. The Church's "Gratrworfs" progrzrnme encompasses many of its activities in the communty. Such activities indude.. Foodbank - The Trussell Trust 15 a national Christian charity that works through partnership wlth groups of local churches to provide Foodbanks, emergency food supplies for anyone in crisis. Grace Church supports FcK)dbank in several ways including providing volunteering and finanoal support. In addition, this last year members of the church prepared and delivered over 100 gfft and food par$ to foodbanks and to a Chithester ntre for those In temporary accommcrfiation at Christmas. Pre9nanq Options Centre in Chichester - Grace (Urch 15 pleased to support the work of the Pre9nancy Opts'ons Centre. The aim of this charity is to see loving kindness at work in our community. The Options team offer understanding, compassion and prdctical care for those in pregnancy crisis situatyons. Support for international missions continued through our partnerships with Compassion in the Philippines, Brea¢ffrust In Ukraine. We also continued to support Josh Garraway, who works wth a Christian Charity in Ankara, Turkey. The church resumed its regular ministy into Ford Prison holding monthly worship rVI$, with preathinglteachlng, prayer, times of sung worship and communion. A team of up to 15 church members will attend these sessions. The churth also gave grfts of 350 gospel-focussed chocolate advent calendars and cards to the offenders at Ford in December. The church has continued to be part of the Commi%ion family of churches which comprises churthes across the UK and in various parts of the wodd. Grace Church has supported commion financially as well as practically by provlding leadership input to support Commission's Churches in the south of the UL The Trustees are very grateful to the number of volunteers that serve so faithfijlly each week. Without the hundreds of people who give up their time and energy the church would not be atde to fulfil its aims and objectives. Page 5
GRACE CHURCH CHICHEsfER REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC REPORT Financial review Financial position The Trustees and Elders t a budget (Income and Eyrmjthre) at the slart of the year and this was monitored closely through the year with the Trustees and Elders receiving monthty written reports, as well as verbal reports during Trustee and Elders meetings. 2024125 expenditure was originally budgeted at £549,000 and the Trustees and Elders agreed to ty and achieve enough income to match this annual expendthre budget. Budgets were monitored monthly and variations to the budget we presented to Trustees throughout the year for approval. These referred to changes in donation trends and reduced/ increased in anticipated costs (Grdce Centre Mortgage interest rates, venue rentals, materials costs, energy pri etc). Gra Church finished this year wtth a total income of £583,903. This figure includes all fijnds and sources of income (induding regular tithes and offerings, gift day offerings, gifts to ScIfiC restritted funds, actiwty ts'ckets (supporting the cost of putting on optional events), bank and gift aid interest) Within this total, specific incomes of £10,078 were raised to support the cost of Grace Church participation in Newday Youth Festival, £7,500 to support hardship for those in the church and community in need, and £2,986 in gifts to supp)rt the Buildings fijnd. Within the financial year, a new designated fund was t up to accrue money to support the ongoing (long-term) maintenance of the building. This fund Is SUPFQrted by lettings income and bank savings interest from the depostt account. Known as the 'Facilibes' fund, the fund received income of £2,654. At year end churth totsl expenditure was £525,542 resulting in an income surplus of £58,361. From this surplus an amount (up to approximately £40,000) has been allocated towards supporting the launch of the Bognor Regis as an independent church separate to Gra Church (as was communicated to the church during the special offerlngs in March 2025). We continue to generate the majority of our income through wular donations from church members and visitors. No legacies were received during the year. Trustees and Elders continue to review all income5 and e>4)ense5 closety, forecasting month by month, paying close attention to any potential risks and impacts. Grace Church finished this year with a general fund balan of £1,001,368. The Trustees and Elders a therefore pleased to report that the finanoal Performan of the church is steady this year and are confident that the church operates good financial controls. This can be eVIdend in the attached accounts. Plans for Future Periods The church has seen considerable growth over lJ)e last year. Weekly attendance has grown substrntially to an average of well over 400 attending at the year end. This is considerable growth comparing to 350 at the same time the previous year. The church is therefore now in a strong posrtion to consider athities in the coming year which will further serve the community and be more mission focussed. Despite the impart of the war in Ukraine and the world financial sltuation, inflation and the cost of living crisis, the church has fared remarkably well but is prepared for ongoing unrtainty. Whilst being aware of the possible impact on church finances, we continue to restK)nd to both church members and those in our communities, where additional finanaal and pastoral supwrt to overcome hardship may be required. Of particular note is the plan to launch the Bognor site a5 a separate thurch in the autumn of 2025. Being a multi-site church has enabl&J Gra Church to accomplish much since the Bognor site was launched in 2013. has continued to grow it is now seen that rt will best seNe both Bognor arvj the Chichester and Havant Sites for the Bognor site to have the freedom to develop as a separate entity. Work has been underway to stsrt this pro5 both in terms of leadership developmenL the necessary governan, legal, finanoal and prdCtTrl steps require(J for this to happen. The church is in a strong place for fLrture growth and development across its current SFthere of Influen and the trustees and leader5hlp team continue to address bcth ri armj oppjrtunities that thi5 presents in the years to come. RUCtURE. GOVERNANCE AND MANAGEMENT Governing document The Charity was created by Memorandum and Artid&s of Asgxiation. inc(ryrated on 17 January 2007. Page 6
GRACE CHURCH CHICHEStER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 srRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees Vacancies are filled from within the thurch membership (or if suitable erien andlor skill is not available, from other Christian churches with whom the churd) is in gcrfxl relats'onship). The Church &ders and Trustees will nominate, discuss, and approve any candidates for the role of Trustee. The individual is then required to complete an application from siting relevant experien and skills and interviewed by at least one member of the Eldership and Trustee team. After review and feedback to the rest of the Eldership and Trust, if everyone agrees the individual will be appointed. Deasion making structure The day-to-day work of the charity is managed by the Eldership team and all deosion-making authority is delegated to this team. The Eldership team meets with the Twstees at least quartetly and will report on prOg$S, issues, finances, and any other relevant items. The Trnstees are available to the @dership for discussion by telephone, email, or face to face btheen Trustee mtings rf needed. Induction and tralning of new irustees I new Truees are given appropriate bnefing and induction training by the Lead Elder andlor Chair of Trustees. They will be made awa of relevant Charity Commission publications that they can access via the Charity Commission's website. They are a150 inve0 tr) attend relevant training events hosted by the Commission family of churches to which Grace Churth belongs. Wider Network l Relations: Grace Church has membership andlor lationship with severdl wider organisations as detsiled below: Gra Church is part of the Commission famity of Churches, which is part of Newfronb'ers. Gra Church is a member of the Evangelical Allian. Gra Church plays a part in local networks of churches induding Churches Together in a)ichester, Churches Together in B(yJnor Regis and Churches Together in Havant . Gra Church continues its partnership with Compassion UK to finanaalty supp)rt the work of the Lambs of God Child Survival Unit in the Philippines. In addition to this, individual members of the church sponsor approximately 170 thildren through Compassion UL Other related parties and Subsidiaries: None Risk management All attNities of the church are covered by risk assessments and actions are tsken to minimise all operating risks to an acptsb1e level. Risk Assessments are monitored and reviewed regularty by the churth's Operations Manager on behalf of, and with support from, the Trustees. The largest individual r(sk to the church has been identified as the death or incapacity of a member of the church's leadership team. If such a thing were to CCUr, the Trustees and other members of the leadership team would meet with the senior regional leaders from the Commission neIOrk of churches to discuss and agree what actions need to be tsken to enable the church to continue to function and meet its goals and objectives. Public benefit The Charty acknowledges ts reqU1ment to demor&rate dearly that it mu* have charitsble purposes or 'aims' that are for the public benefft. Detsils of how the tharity has achieved this are provided within this rewrt. The trustees confirm that they have paid due regard to the Chanty Commission guidan on public benefit tefore deading what activities the Charity should undertake. REFERENCE AND ADMINISTRATIVE DEfAILS Registsred Company number 06056250 (England and Wales) Registered Charity number 1118739 Page 7
GRACE CHURCH CHICHEStER REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2025 Registered office The Gra Centre Terminus Road a)ichester West Sussex P019 srx Trustees S Blaber Chair J E Leach Mrs K Bishop J L Groves T Goodge M Fogwill (appolnted 18.3.25) Ms U Okeme (appointed 18.3.25) Ms D E Nitholls (resigned 25.10.24) Company Secretary S D Taylor Independent Examiner Sarah Alexander FCA FCCA Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex P020 7EQ Bankers HSBC Bank PIC 4 Robertson Street Hastings East Sussex TN34 IHW Senior staff members to whom daily management of the Charity is delegated Joseph Leach Johnny Holder Anthony Dark Simon Taylor Elder Elder Edler Operab"ons Manager Report of the tnjstees, incorporab'ng a strdtegic report, approved by order of the board of trustees, as the company directors, on ..................... .... . and signed on the trrd's LEhalf by: J E Leach - Trustee Page 8
INDEPENDE[ EXAMINER'S REPORT TO THE TRUSTEES OF GRACE CHURCH CHICHEStER Independent examiner's report to the trustees of Gra Church Chichester {'the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors ft)r the purposes of company law) you are responsible for the preparation of the accounts in accordan 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 aLMdited under Part 16 of the 2006 Act and are eligible for independent examination, I rewrt in reSrt of my examinats.on of your chaiity's accounts as carried out under Section 145 of the Charities Att 2011 (e 2011 ACV). In carrying out my exarnination I have followed the Directions given by the Charity Commission under Sethon 145(5) (b) of the 2011 Att. Independent examinerfs ststement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination bec3use I am a member of the Institute of Chartered Accountsnts in England and Wales. which is one of the li¥led t(#Jies. 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: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or the accounts do not accord with those record5. or the accounts do not comply with the accountsng reouirements of Section 396 of the 2006 Art 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 the accounts have not been prepared in accordance with the methods and principles of the taternent of Recommended Practice for accounting and reporting by chanties (applicable to charities preparing their accounts in accordance with the Finanoal Reporbng Strdndard 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 reFK)rt in order to enable a proper understanding of the accounts to be reached. Sarah Alexander FCA FCC4 Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Bams Birdham Road Chichester West Sussex P020 7EQ Date: Page 9
GRACE CHURCH CHI(>IEsfER srATEMENT OF FINANCIAL AcrnirrIES (INCORPORATING AN INCOME AND EXPENDrruRE ACCOUPffj FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestritled Restricted funds funds INCOME AND ENDowMEts FROM Donations and legaaes 545.122 15,021 560,143 575,084 Charitable activities Church Attivities 13.708 5.781 19A89 5,321 Investment income 3,695 576 4,271 3,657 Total 562,525 21,378 583,903 584,062 EXpENDuRE ON Charitable activities Church Attivities 459,376 ,177 467,553 491,131 Other 57,989 57,989 55,374 Total 517,365 .177 525.542 546,505 NET INCOME Transfers between funds 45,160 40,645 13,201 (40,645) 58,361 37,557 17 Net movement in funds 85,805 (27,444) 58,361 37,557 RECONCILIATION OF FUNDS Total funds brought forward 985,007 44,367 1,029,374 991,817 TOTAL FUNDS CARRIED FORWARD 1,070,812 16,923 1,087,735 1,029,374 The notes forni part of finanaal ststements Page 10
GRACE CHURCH CHICHEsfER BALANCE SHEEr 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted funds Restritted funds FIXED SErs Tangible assets li 1.620,570 1,620,570 1,584,332 CURRENT ASSEfS Debtor5 Cash at bank and in hand 12 93,338 134,928 io 16,913 93,348 151,841 96,464 146,052 228,266 16.923 245,189 242,516 CREDITORS Amounts falling due within one year 13 {63,110) (63,110) (26,760) NEf CURRENT ASSErs 165,156 16,923 182,079 215,756 TOTAL ASSEfs LESS CURRENT UABILrtIES 1,785,726 16,923 1,802,649 1,800,088 CREDrroRS Amounts falling due after more than one year 14 (714,914) (714,914) (770,714) NET ASSErs 1,070A12 16,923 1,087,735 1,029,374 FUNDS Unrestricted funds Restricted funds 17 1,070,812 16,923 985,007 44,367 TOTAL FUNDS 1,087,735 1,029,374 The charitsble company is entiued to exemption from audit under SectÉon 477 of the Companies Act 2006 ft)r the year ended 31 Marth 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordan with Section 476 of the Companies Att 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Att 2006 and preparing finanaal statements which give a true and fair view of the state of affairs of the charttsble company as at the end of eath finanoal year and of its surplus or deficit for each finanaal year in accordan with the requirements of Sections 394 and 395 and which otherwise compfy with the requirements of the Companies Act 2006 lating to finanaal strdtements, so far as applicable to the charitsble company. (b) The finanaal statements We approved by the Board of Trustees and authorised for issue / q 12).........,,...... and were signed on ts behalf by: on J E Leach - Trustee The notes forni part of these finanaal statements Page 11 continued...
GRACE l>tilRCII CHICHESTER BALANCE SHEET- continued 31 MARCH 2025 S Blaber - Trustee The notes fcmin part of financial statements Page 12
GIiACE CHURCH CHICHEsfER CASH FLOW sfATEMEKr FOR THE YEAR ENDED 31 MARCH 2025 2025 Notes 2024 Cash flows from operating athities Cash generated from operations Interest paid 126,162 (57,989) 89,413 (59,245) Net cash provided by operating acknwbes 68,173 30,168 Cash flows from investing activities Purchase of tangible fixed assets Interest received {45,510) 2N91 714 Net cash (u*d In)/provided by investing attivities (43,019) 714 Cash flows from fjnancing actlvlties Loan repayments in year {19,365) (12,092) Net cash in finanong attivities (19,365) (12,092) Change In cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reportlng period Cash and cash equivalents at the end of the reporting period 5,789 18,790 146,052 127,262 151,841 146,052 The notes form part of these finanaal statemer¢ts Page 13
GRACE CHURCH CHICHEsfER NOTES TO THE CASH FLOW sfATEMErfr FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF NE[ INCOME TO NEf CASH FLOW FROM OPERATING ACtIvrriES 2025 2024 Net income for the reporting period (as per the Statement of Financial Activjties) Adjustments for: Depreciation charges Interest received Interest paid Decrease in debtors Decrease in creditors 58,361 37,557 9,272 (2,491) 57,989 3.116 (85) 10,770 (714) 59,245 7,177 (24,622) Net cash provided by operations 126,162 89,413 ANALYSIS OF CHANGES IN NEf DEBT At 1.4.24 Cash flow At 31.3.25 Net cash Cash at bank and in hand 146,052 5,789 151,841 146,052 5,789 151,841 Debt Debts falling due within l year Debts falling due after l year (17,268) (770,714) (36,435) 55,800 (53,703) (714,914) (787,982) 19,365 (768,617) Total (641.930) 25,154 (616,776) The notes form part of these financial statements Page 14
GRACE CHURCH CHICHESTER NOTES TO THE FINANCIAL sfATEMENTS FOR ThE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Basls of preparing the finanaal statements The financial strdtements of the charitable company, which is a publ benefft entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Ststement of Recommended practi appIlble to charth.es preparing their accounts in accordan with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effecttve l January 2019),, Financial Reporting Standard 102 The Financial Repoiting Stsndard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The finanaal statements have been prepared under the historical cost convenb'on. Income All income is CogniSed in the Statement of Financial Activtties On the chartty has entitlement to the funds, it Is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognlsed as eXnditsjre as str)n as there is a legal or constructive obiigats.on commitbng the charity to that expendIre, Tt is probable that a bBn5fer of Eronomic beneffts will be required.in setuement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accnjals basis and has been classified under heading5 that aggregate all cost lated to the category. Where costs cannot be direcdy attributed to particular headings ttw have been allocated to artivfcies on a basis consistent with the use of resour. Grants offered subject to conditions whith have mt met at the year end date are noteij as a commitment but not accrued as expendithre. Governance costs Governantr costs indude costs of the preparation and examinab'on of statutory accounts, the costs of the trustees, meetings and cost of any legal advi to the truStS on governantr or constitutional matters. Tan9ible fixed assets Depreciation is provided at the following annual rates in order to write off eath asset over ts estimated usefiJl life. Freehold property Computer equipment 2% and IO% on cost 330/0 on reduang balan Tangible fixed assets for use by the Charity are Ca'taliSed If they have a useful lrfe of more than one year and C05t at least £2,000. They are valued at cost or, if gifted, at the value to the Charity on elpt. Taxatlon The charity is exempt from c(xpordtion tax on its charitatAe activities. Fund accounting Unrestritted funds can be used in accordan with the charitable objectives at the discretion of the trustees. Restricted ftjnds can only be used for particular restrirted purposes Wtthin the objects of the charty. Restrictions arise when speafied by the donor or when funds are rdised for particular restricted purposes. Further explanation of the nature and purpose of each fund is induded in the note5 to the financial ststements. Pension costs and other post-retirement bener The charitable company operates a defined contribution pension %theme. Contributions payable to the charitable company's pension scheme are charged to the Ststement of finanaal Activities in the per1j to which they relate. Operating lease commitments Rentals paid under operating lease5 are tharged to the profit and 1055 account on a straight line basis over the period of the lease. Page 15 continued...
GRACE CHURCH CHICHEsfER NOTES TO THE FINANCIAL sfATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 DONATIONS AND LEGACIES 2025 2024 Gift aided giving Gifts, knthes & offerings Gtft aid 372,230 94,776 93,137 384,885 92,592 97,607 560,143 575.084 INVEsfMENT INCOME 2025 2024 Rents received Deposit account intrrest 1,780 2,491 2,943 714 4,271 3,657 INCOME FROM CHARABLE ACTIvrrIES 2025 2024 Activty Church Acttvities Church activities 19,489 5,321 CHARrrABLE AcrIvrrIES COSTS Grnnt funding of activities (see note Support costs (see note 7) Direct 6) Totsls Church Activibes 399,515 59,324 8,714 467,553 GRANTS PAYABLE 2025 2024 Church Activities 59,324 55,749 SUPPORT cosrs Governan costs Finance Totsls other $Our expended Church Activiknes 57,989 517 57,989 8,714 8,197 58,506 8,197 66,703 Page 16 continued...
GRACE CHURCH CHICHEStER NOTES TO THE FINANCIAL sfATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 NEf INCOME/(EXPENDrnJRE) Net incomel(expenditure) is slated after chargingl(crediting): 2025 2024 Independent examinatlon fees Depreciation - owned assets 4,455 9.272 4,080 10,770 TRUSTEES. REMUNERATION AND BENEFrrs During the financial year trLs* Joe Leach the Pastor received £54,115 (2024: £52,269) in salary related payments, while pension contiibutions were made totslling £3,788 {2024: £3,659). Trustees. expenses There were no trustees, expenses paid for the year ern1ed 31 Marth 2025 nor for the year ended 31 March 2024. No other payments were made to trustees or any persons connected with them during this financial period. 10. srAFF COSTS 2025 2024 Wages and salaries Social security costs Other pension costs 224,345 18,156 15,335 228,188 18,192 15,639 257,836 262,019 The average monthly number of empioyees during the year was as follows: 2025 Charitsble attivitres 2024 No employees received emoluments in pJcess of £60,000. Page 17 continued...
GRACE CHURCH CHICHEsfER NOTES TO THE FINANCIAL StATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 11. TANGIBLE FIXED ASSErs Freehold propety Plant and machinery Computer equipment Totsls COST At l April 2024 Additions 1,601,945 45,510 10,103 36,677 1,648,725 45.510 At 31 March 2025 1.647,455 10.103 36,677 1,694,235 DEPREaATION At l April 2024 Charge for year 27.788 7,674 8.904 342 27,701 1.256 64,393 9,272 At 31 March 2025 35,462 9,246 28.957 73,665 NET BOOK VALUE At 31 March 2025 1,611.993 857 7,720 1,620,570 At 31 March 2024 1,574,157 1,199 8,976 1,584,332 12. DEBTORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2025 2024 Other debtors 93,348 96,464 13. CREDrroRS: AMOUNTS FALLING DUE wmiIN ONE YEAR 2025 2024 Bank loans and overdrafts (see note 15) Sooal seoJrty and other tsxes Other creditors Accruals and deferred income 53,703 5,639 93 3,675 17,268 5,979 93 3,420 63,110 26,760 14. CREDrroRS: AMOUNTS FALUNG DUE AFfER MORE THAN ONE YEAR 2025 2024 Bank loans (see note 15) 714,914 770,714 15. LOANS An analysis of the maturity of loans 15 given bdow: 2025 2024 Amounts falling due within one year on demand: Bank loans 53,703 17,268 Amounts falling between one and years: Bank loans- 1-2 years 54,960 17,268 Amounts falling due beeen two arKi fve year5: Bank loans - 2-5 years 172,419 51,805 Page 18 continued...
GRACE CHURCH CHICHEsfER NOTES TO THE FINANCIAL ATEmENTs - continued FOR THE YEAR ENDED 31 MARCH 2025 15. LOANS - continued 2025 2024 Amounts falling due in more than five years." Repaydble otherwise than by insialments: Bank loans more 5 yrs rn-inSt 487,535 701,641 16. LEASING AGREEMENTS Minimum lease payTnents under non-cancdlable operating leases tdll due as follows: 2025 2024 Within one year BelM&n one and five years 1,488 4,836 3,348 4,836 6,324 17. MOVEMEKf IN FUNDS Net movement in fvnds Transfers btheen funds At 31.3.25 At 1.4.24 Unrestricted funds General fund Gift Day De&gnated Fund Youth Factlittes Designated Fund 966,084 12.030 137 6,756 (8,406) 53,721 (2,809) 2,654 43,690 1,001,368 65,751 (772) 4,465 1,900 (4,945) 985,007 Restrlcted funds Building Fund Josh G Hardship Events Members Gifts 45,160 40,645 1,070012 37,867 2,698 300 s00 4,323 80 (40,565) 300 12,300 4,323 6,500 {80) 44,367 13,201 (40,645) 16,923 TOTAL FUNDS 1,029,374 58,361 1,087,735 Page 19 continued...
GRACE CHURCH CHICHEsfER NOTES TO THE FINANCIAL StATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS- continued Net movement in funds, induded in the above are as follows: Incoming resoLJr Resources eynded Movement in funds Unrestricted funds General fvnd Gift Day Designated Fund Youth Facilibes Designated Fund 496,072 53,721 10,078 2,654 (504.478) (8,406) 53,721 (2,809) 2,654 (12,887} 561525 (517,365) 45,160 Restricted funds Building Fund Josh G Hardship Events Members Gifts 2,986 300 7,500 5,782 4.810 (288) 2,698 300 5,800 4,323 80 (1,700) (1,459) {4,730) 21,378 (8,177) 13,201 TOTAL FUNDS 583,903 (525,542) 58,361 Comparatives for movement in funds Trdnsfers between funds movement in fvnds At 31.3.24 At 1.4.23 Unrestr5cted funds General fund Gift Day Designated Fund YoLth Facilities Designated Fund 948,564 (41,768) 71,418 (3,945) 3,657 59,238 (59,338) 966,034 12,080 137 6,756 4,082 3,099 952,646 29,362 2,999 985,007 Restricted funds Building Fund Josh G Hardship 38,596 75 500 2,370 (175) 6,000 (3,099) loo 37,867 6,500 39,171 8,195 (2,999) 44,367 TOTAL FUNDS 991,817 37,557 1,029,374 Page 20 continued...
GRACE CHURCH CHICHEsfER NOTES TO THE FINANCIAL StATEMEPtrs - continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS- continued Comparative net movement in funds, induded in the at()ve are as follows: Incoming Resour resour expended Movement in fijnds Unrestricted funds General fund Gift Day Designated Fund Youth Facilities Designated Fund 492,165 71,418 5,220 3,657 (533,933) (41,768) 71,418 (3,945) 3,657 (9,165) 572,460 Restricted funds Building Fund Josh G Hardship Members Gilts (543,098) 29,362 4,152 300 6,000 1,150 (1,782) (475) 2,370 (175) 6,000 (1,150) 11,602 (3,407) 8,195 TOTAL FUNDS 584,062 (546,505) 37,557 A current year 12 months and prior year 12 months combined position is as follows: Net movement in fvnds Transfers between funds At 31.3.25 At 1.4.23 Unrestrfcted funds General fund Gift Day Designated Fund Youth Facilities Designated Fund 948,564 (50,174) 125,139 (6,754) 6,311 102,928 (59,338) 1,900 (1,846) 1,001,318 65,801 (772) 4,465 4,082 952,646 74,522 43,644 1,070,812 Restricted funds Building Fund Josh G Hardship Events Members Gifts 38,596 75 500 5,068 125 11,800 4,323 80 (43,664) loo 300 12,300 4,323 (80) 39,171 21,396 (43,644) 16,923 TOTAL FUNDS 991,817 95,918 1,087,735 Page 21 continued...
GRACE CHURCH CHICHEsfER NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in fvnds, induded in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund Gift Day Designated Fund Youth Faalities Designated Fund 988,237 125,139 15,298 6,311 (1,038,411) (50,174) 125,139 (6,754) 6,311 (22,052) 1,134,985 (1,060,463) 74,522 Restricted funds Buildlng Fund Josh G Hardship Events Members Gifts 7,138 600 13,500 5,782 5,960 (2,070) (475) (1,700) (1,459) (5,880) 5,068 125 11,800 4,323 80 32,980 (11,584) 21,396 TOTAL FUNDS 1,167,965 (1,072,047) 95,918 Restricted funds Building fund: Members Gifts: Josh G: Hardship. glving for the building and venue needs of Grace Church. giving anonymously g•fts between member of Grace Church. collection and sending of funds to support Josh Garraway in Turkey. giving to support others through the Covid-19 crisis. money from charying members for attending events. to be used as the need arises Events: Transfers between funds Where restricted funds wendi exoeds income, a transfer of funds is made from the general fund to make up for the Shortfall. 18. RELATED PARTY DISCLOSURES There were no related party transaL*ons for the year ended 31 Marth 2025. Page 22
GRACE CHURCH CHICHEsfER DEfAILED STATEMENT OF FINANCIAL AcnvrrIES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 INCOME AND ENDOWMENTS Donations and legaaes Gift aided giving Gifts, tithes & offerings Gift aid 372,230 94,776 93,137 384,885 92,592 97,607 560,143 575,084 Invesljnent income Rents recetved Depostt account interest 1,780 2,491 2,943 714 4.271 3,657 Charitable activities Church attivities 19,489 5,321 Totsl Incoming resources 583,903 584,062 EXPENDrruRE Charitable activities Wages Social security Pensions ght and heat Telephone Advertising Sundries Attivities & events Conferences & training Equipment costs Leadership team Prlnting, postage & stakn'onary Rent, rates & servic charges Repairs & maintenan Running costs The youth & children Travel & sub5iStence Worship team Ministries Freehold property Plant and machinery Computer equipment Grants to institutions Grants to individuals 224.345 18,156 15,335 11,227 2,133 1,673 4,837 41,497 8,921 5,211 1,755 3,541 25,762 8,982 5,221 7,616 2,212 81 1,738 7,674 342 1,256 47,745 11,579 228,188 18,192 15,639 23,617 2,139 5,004 5,570 33,225 8,910 6,756 2,379 5,105 30,665 8,879 1,928 11,589 2,672 717 734 7,295 1,849 1,626 47,637 8,112 458,839 478,427 Support costs This page does not form part of the statLrtory financial *tements Page 23
GRACE CHURCH cHIcHEER DEfAILED sfATEMEPtr OF FINANCIAL AcrIvmES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Support Costs Finance Bank charges Bank loan charges and interest 517 57,989 662 59,245 58,506 59,907 Governance costs Independent examination fees Insuran Professional fees 4,455 3,661 81 4,080 4,043 48 8,197 8,171 Totsl resourtrs expended 525,542 546,505 Net income 58,361 37,557 This page does not fomi part of the statLtory financial 5tstements Page 24