REGISTERED COMPANY NUMBER: 04975683 (England and Wales) REGISTERED CHARITY NUMBER: 1121461
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2025
for
Grace Incorporation Faith Trust(G.I.F.T)
Raise Chartered Accountants Trimble House 9 Bold Street Warrington WA1 1DN
Grace Incorporation Faith Trust(G.I.F.T)
Contents of the Financial Statements for the Year Ended 31 March 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 9 |
| Detailed Statement of Financial Activities | 10 |
Grace Incorporation Faith Trust(G.I.F.T)
Report of the Trustees for the Year Ended 31 March 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Director/Trustee Report for the Year Ended 31st March 2025
1. Introduction
This report is submitted on behalf of the Board of Trustees of Grace Incorporation Faith Trust (GIFT) to accompany the financial statements for the year ending 31st March 2025. GIFT remains committed to our core mission of promoting community-led, heritage-inspired education and community lifelong learning as key drivers for urban regeneration and social inclusion. We continue to serve vulnerable individuals and families across Greater Manchester, with a focus on African, Caribbean, and other global majority communities.
2. Achievements and Performance
Over the financial year 2024-2025, GIFT has maintained a consistent programme of targeted community support through a mix of face-to-face and digital delivery from our base at Brow House. Key programmes included:
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Skills 4 Life: Diverting young people from anti-social behaviour through personal development and leadership training.
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Family Support Programme: Mediation and advocacy for families and young people at risk of exclusion.
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Joining in Motion (JIM): Personal development and employment pathway support for adults facing mental health, digital, and
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skills-related barriers.
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Afterschool Provision: Small-group academic tutoring and extracurricular enrichment for young people aged 11-16.
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Digital Inclusion: Basic IT training, device access, and digital confidence building for adults and families.
Across all services, GIFT supported an estimated 120 unique service users this year, with an average weekly footfall of 70 participants engaging in educational, well-being, and employability activities. Of these, over 40 progressed into further training, employment, or volunteering. 70% of users reported increased well-being, confidence, and life satisfaction through structured evaluation and feedback.
3. Financial Review
The charity operated within a prudent financial framework over the past year, balancing service delivery needs with available income streams. Our funding mix included grants, charitable donations, and project-specific funding. GIFT has secured grants from The National Lottery fund (Awards for All), Postcode Neighborhood Trust, Clothworkers and The Alchemy Foundation totalling £50,650 (2024: 68.590).While the economic environment remains challenging, GIFT continues to adapt, actively pursuing fundraising opportunities and capital investment to sustain and expand operations. The total income received for the year was £64,075 (2024: £ 98,486) and a surplus of £2,196 was achieved for the current year (2024: £ 27,753).
4. Reserve policy and ongoing concern
A formal policy on reserves was agreed at the 27th March 2025 meeting of the executive committee.
The trustees have set a reserves policy which requires:
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Reserves be maintained at a level which ensures that GIFT's organisation's core activity could continue during a period of
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unforeseen difficulty. For the current year this is estimated to equate to £20,000.
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A proportion of reserves be maintained in a readily realisable form.
The calculation of the required level of reserves is an integral part of the organisation's planning, budget and forecast cycle. It considers:
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Risks associated with each stream of income and expenditure being different from that budgeted.
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Planned activity level
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Organisation's commitments
5. Strategic Plans and Priorities for 2025-2026
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Digital Hub: To create a multipurpose digital hub and expand workspace capacity.
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Digital Inclusion Expansion: Deliver IT and employability sessions for digitally excluded young people and households.
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Mental Health & Well-being: Culturally competent support in collaboration with partners like Just Psychology.
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Volunteer and Youth Leadership Pathways: Supporting local residents into training, volunteering, and leadership roles.
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Partnership Working: Strengthen links with Making Education a Priority (MEaP), One Manchester, local authorities, schools, and health providers.
6. Governance and Risk Management
GIFT is governed by a Board of Trustees who meet regularly to oversee strategic direction, financial oversight, and risk management. We ensure compliance with our charitable objectives and the requirements of the Charity Commission. This year, we undertook a review of our safeguarding and GDPR policies, strengthened operational procedures, and continued to support our team of sessional workers and volunteers through training and supervision.
Page 1
Grace Incorporation Faith Trust(G.I.F.T)
Report of the Trustees for the Year Ended 31 March 2025
7. Public Benefit
The Trustees have considered the new obligations of the Charities Act 2006. We are satisfied that Grace Incorporation Faith Trust (G.I.F.T) complies with the Act and with section 4 of the Act concerning 'public benefit' guidance issued by the Charity Commission. Our main activities and who we are trying to help is described.
Support young people, men and women from a diverse range of communities to access education and to tackle a range of issues that affect their access, performance, and progression into education, training and employment.
8. Trustee Declaration
The trustees declare that they have approved this report and that it complies with the requirements of the Charities Act 2011. This report was approved by the Board of Trustees on behalf of the charity and signed on its behalf by:
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04975683 (England and Wales)
Registered Charity number
1121461
Registered office
Brow House Ground Floor 1Mabfield Road Manchester M14 6LP
Trustees
Ms H L Dunn Lecturer In Educ Ms P H Mckie Retired Social Worker (resigned 1.4.24) Ms J Ngawoofah SEND Education Consultant H Ngawoofah Community Development Consultant Ms A Attah-Hayford Civil Servant (appointed 1.4.24) Ms M F M T Essaka IT Consultant (appointed 1.4.24)
Company Secretary
Approved by order of the board of trustees on ………..25/11/2025…… and signed on its behalf by:
.............................................................................. H Ngawoofah - Trustee
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Grace Incorporation Faith Trust(G.I.F.T)
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2025
| (Incorporating an Income and Expenditure for the Year Ended 31 March 2025 Ac |
count) | ||||
|---|---|---|---|---|---|
| 31.3.25 | 31.3.24 | ||||
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 34,425 | 29,650 | 64,075 | 70,240 | |
| Other trading activities | 2 | - | - | - | 28,246 |
| Total | 34,425 | 29,650 | 64,075 | 98,486 | |
| EXPENDITURE ON | |||||
| Raising funds | 3 | - | 9,700 | 9,700 | 17,167 |
| Charitable activities | |||||
| General | |||||
| 44,959 | 6,500 | 51,459 | 53,566 | ||
| Total | 44,959 | 16,200 | 61,159 | 70,733 | |
| NET INCOME/(EXPENDITURE) | (10,534 ) | 13,450 | 2,916 | 27,753 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 44,315 | - | 44,315 | 16,562 | |
| TOTAL FUNDS CARRIED FORWARD | 33,781 | 13,450 | 47,231 | 44,315 |
The notes form part of these financial statements
Page 3
Grace Incorporation Faith Trust(G.I.F.T)
Balance Sheet 31 March 2025
| Balance Sheet 31 March 2025 |
||||||
|---|---|---|---|---|---|---|
| 31.3.25 | 31.3.24 | |||||
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible assets | 8 | 1,256 | - | 1,256 | 46 | |
| CURRENT ASSETS | ||||||
| Cash in hand | 37,417 | 13,450 | 50,867 | 48,435 | ||
| CREDITORS | ||||||
| Amounts falling due within one year | Amounts falling due within one year 9 |
(4,892) | - | (4,892) | (4,166) | |
| NET CURRENT ASSETS | 32,525 | 13,450 | 45,975 | 44,269 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | TOTAL ASSETS LESS CURRENT LIABILITIES | 33,781 | 13,450 | 47,231 | 44,315 | |
| NET ASSETS | 33,781 | 13,450 | 47,231 | 44,315 | ||
| FUNDS | 10 | |||||
| Unrestricted funds | 33,781 | 44,315 | ||||
| Restricted funds | 13,450 | - | ||||
| TOTAL FUNDS | 47,231 | 44,315 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ..................25/11/2025……and were signed on its behalf by:
............................................. H Ngawoofah - Trustee
The notes form part of these financial statements
Page 4
Grace Incorporation Faith Trust(G.I.F.T)
Notes to the Financial Statements for the Year Ended 31 March 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost Computer equipment - 33% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2.
OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| Fees | - | 28,246 |
continued...
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Grace Incorporation Faith Trust(G.I.F.T)
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
3. RAISING FUNDS
4.
| Investment management costs | |||
|---|---|---|---|
| 31.3.25 | 31.3.24 | ||
| £ | £ | ||
| Property repairs | 9,700 | 17,167 | |
| NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.3.25 | 31.3.24 | ||
| £ | £ | ||
| Depreciation - owned assets | 459 | 151 |
NET INCOME/(EXPENDITURE)
5. TRUSTEES' REMUNERATION AND BENEFITS
Mr Henry Ngawoofah is an employee of the charity within the year to 31 March 2025 and was paid £28,166 (2024: £26,000) which is in line with the charity's conflict of interest policy. His role is in the capacity of project/bid writing consultant and project management, managing the projects and partnerships with consortium partners.
The total amount of pension contributions paid by the charity was nil (2024:£346)
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
6. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| Wages and salaries | 28,166 | 26,000 |
| Social security costs | 2,632 | 2,333 |
| Other pension costs | - | 346 |
| 30,798 | 28,679 |
Mr Henry Ngawoofah, who is a Trustee of the charity, was also employed by the charity to provide project and consultancy services and the management of partnerships. He was paid £28,166 in the financial year (2024:£26,000) and pension contributions of £0 (2024: £346). This has been addressed in the charity's conflict of interest policy.
Mr Henry Ngawoofah received no remuneration for his services as a Trustee of the charity. No other Trustees received any remuneration. (2024: nil)
The average monthly number of employees during the year was as follows:
| 31.3.25 | 31.3.24 | |
|---|---|---|
| Project management | 1 | 1 |
No employees received emoluments in excess of £60,000.
continued...
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Grace Incorporation Faith Trust(G.I.F.T)
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ Restricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 70,240 - Other trading activities 28,246 - Total 98,486 - EXPENDITURE ON Raising funds 17,167 - Charitable activities General 53,566 - Total 70,733 - NET INCOME 27,753 - RECONCILIATION OF FUNDS Total funds brought forward 16,562 - TOTAL FUNDS CARRIED FORWARD 44,315 - 8. TANGIBLE FIXED ASSETS Fixtures and fittings Computer equipment £ £ COST At 1 April 2024 16,036 447 Additions - 1,669 Disposals (14,651 ) - At 31 March 2025 1,385 2,116 DEPRECIATION At 1 April 2024 15,990 447 Charge for year 46 413 Eliminated on disposal (14,651 ) - At 31 March 2025 1,385 860 NET BOOK VALUE At 31 March 2025 - 1,256 At 31 March 2024 46 - |
Total funds £ 70,240 28,246 98,486 17,167 53,566 70,733 27,753 16,562 44,315 Totals £ 16,483 1,669 (14,651 ) 3,501 16,437 459 (14,651 ) 2,245 1,256 46 |
|---|---|
continued...
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Grace Incorporation Faith Trust(G.I.F.T)
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.3.25 | 31.3.24 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Other creditors | 4,179 | 3,453 | |||
| Accruals and deferred income | 713 | 713 | |||
| 4,892 | 4,166 | ||||
| 10. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.4.24 | in funds | 31.3.25 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 44,315 | (10,534 ) | 33,781 | ||
| Restricted funds | |||||
| Restricted fund | |||||
| - | 13,450 | 13,450 | |||
| TOTAL FUNDS | 44,315 | 2,916 | 47,231 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 34,425 | (44,959 ) | (10,534 ) | ||
| Restricted funds | |||||
| Restricted fund | |||||
| 29,650 | (16,200 ) | 13,450 | |||
| TOTAL FUNDS | 64,075 | (61,159 ) | 2,916 | ||
| Comparatives for movement in funds | |||||
| Net | |||||
| movement | At | ||||
| At 1.4.23 | in funds | 31.3.24 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 16,562 | 27,753 | 44,315 | ||
| TOTAL FUNDS | 16,562 | 27,753 | 44,315 |
continued...
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Grace Incorporation Faith Trust(G.I.F.T)
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 98,486 | (70,733 ) | 27,753 |
| TOTAL FUNDS | 98,486 | (70,733 ) | 27,753 |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net | |||
| movement | At | ||
| At 1.4.23 | in funds | 31.3.25 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 16,562 | 17,219 | 33,781 |
| Restricted funds | |||
| Restricted fund | |||
| - | 13,450 | 13,450 | |
| TOTAL FUNDS | 16,562 | 30,669 | 47,231 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 132,911 | (115,692 ) | 17,219 |
| Restricted funds | |||
| Restricted fund | |||
| 29,650 | (16,200 ) | 13,450 | |
| TOTAL FUNDS | 162,561 | (131,892 ) | 30,669 |
11. RELATED PARTY TRANSACTIONS AND TRUSTEES' EXPENSES AND REMUNERATION
Note 5 sets out the details regarding the Trustees' expenses and remuneration.
The charity had net movement of £2,140 (2024: £24,146) received from Making Education a Priority (MEAP) CIC relating to the Community Business Manager's role in managing the partnership projects. This is treated as a related party due to a common director.
The charity has a loan owing to Henry Ngawoofah (Trustee) of £2,649.58 (2024: £1,022.35).
Page 9
Grace Incorporation Faith Trust(G.I.F.T)
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
| Detailed Statement of Financial Activities for the Year Ended 31 March 2025 |
||
|---|---|---|
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 13,425 | 1,650 |
| Grants | 50,650 | 68,590 |
| 64,075 | 70,240 | |
| Other trading activities | ||
| Fees | - | 28,246 |
| Total incoming resources | 64,075 | 98,486 |
| EXPENDITURE | ||
| Investment management costs | ||
| Property repairs | 9,700 | 17,167 |
| Charitable activities | ||
| Wages | 28,166 | 26,000 |
| Social security | 2,632 | 2,333 |
| Pensions | - | 346 |
| Insurance | 96 | 96 |
| Light and heat | 199 | 216 |
| Telephone | 941 | 554 |
| Postage and stationery | 446 | 1,639 |
| Advertising | 100 | - |
| Computer & website | 2,102 | 1,012 |
| Professional fees | 81 | 48 |
| Staff travel | 192 | 585 |
| Rent & rates | 213 | 201 |
| Project costs | 12,523 | 5,124 |
| Consultancy fees | 1,938 | 13,624 |
| 49,629 | 51,778 | |
| Support costs | ||
| Management | ||
| Sundries | - | 189 |
| Finance | ||
| Bank charges | 135 | 164 |
| Governance costs | ||
| Accountancy and legal fees | 1,236 | 1,284 |
| Fixtures and fittings | 46 | 105 |
| Computer equipment | 413 | 46 |
| 1,695 | 1,435 | |
| Total resources expended | 61,159 | 70,733 |
| Net income | 2,916 | 27,753 |
This page does not form part of the statutory financial statements
Page 10