Comp•ny rtglstrntlon number 07163237 IEnqland and Wales) Charfty reglstr•tion number 1134634 {England and Wale•l GRACE CHRISTIAN TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026 Caladine Charlered CerliFied Accounlant5
GRACE CHRISTIAN TRUST LEGAL AND ADMINISTRATIVE INFORMATION MrA Mayo Mr l Mayo MTS J Mayo Country of Incorporntlon United lfjngdom Fngland and Wale8 C¢xnp•ny numhr 07163237 Ch•rfty numb•r (England and W•l••l 1134834 R•gl•t•r•d offlce Offord Manor Shorahlll Lane Otlord Kent TN15 8XF Ind•p•nd•nt •x•mln•r John C8ladlne FCCA CTA FCIE Coladlne Llmlt•d Chantry House 22 Upperton Road Ea3lboume East Sussex BN21 IBF Metro Bank One Southampton Ri London 1B5HA
GRACE CHRISTIAN TRUST CONTENTS Pag• Trustees, rnport Independent •xamlnerf8 report sl8lem•nt of flnandal *cUv6fj81 Statement of Ilnandal po8hlon statement of ¢Jsh flo Notes to Iha flnandal stsl•m•nts 8-18
GRACE CHRISTIAN TRUST TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 28 FEBRUARY2026 The tru8tee$ are glso directOf8 of the chaflty for th• purpos88 of the Companles Acl 2006, present their report 7Mth the finandal statements oflhe chanty for the perlod ended 28th February 2026. Th• Irustee5 have adopted the provisions Of Accounting and Reporting by Charftle$'. Slalement ot Recommended Practice applicable to c8rile8 preparfng their account8 in accord8n¢e wllh the Flnandal Reportlng St•nd8rd appllcable in the UK and Republk of Ireland {FRS 1021 (effective 1 January 20191. ObJoctlve8 and a¢tlvldg• The objectlves of the charty are lo 8thnct th• Chrl8lan faith and a160 to relieve ¥lckn¢$s, hardship and promote and preserve good health. The tru8tee8 report that th¥ actiVe8 of the Grace ChStian Tnjst durlng the year have been dlrecled lowgrd8 fiJrthering118 charllable obje¢tive8 lor the public benefit. In SOn0 prfOre5 and maklng dec)slon8, the tru$lge$ have had due regard to the Charlty ComrniB8ion's guld•n¢& on public benefrt. The work of the Trust durfng the year ¢an b• grouped Into three princlpol ar•••'. th? ps1on of houslng lor Ih08e In need support of local thurth work gT8nl$ to organi$atlons cornmunlcatlng th• Chrfstlgn falth Publk benefit The Iru818•8 ha pald du? regord to guldance 18su•d by the Charty Comm1681on kn deddlng whgt gctlvNles the tru81 Ahould undertake. Achl•v•ment• •nd p•rfomianc• Swniflcant activities and achievements 8gainsl obJ'8Ctives The TruBt currentty operatè& three smal hou6ing prolect8, •a¢h •lmd 01 provldlng practical lupport to IndldU•ll and lamllie8 •XP•rtèndng need. Th¢ prop8ty In Caterharn has conllnued to pro¥ld• Accommodation for tm) Ukralnlan lamllles Ihrough the Tru61'6 p8rtnershSp wKh Tandridge Dislrl¢t Coundl. Thls orTangemenl has enabled th• famlllg$ to aGcg88 Stable housing and Support during a period of dlsplacament. The propeity In rfIngham was occupied for longèr th¥n orfglnalty anticApated by an extended famlly, rafie¢tlng the level 8nd complexlty of need. The 18mity has now suceesslully transltloned into four separat• homès. Is meetlng It8 own houslng costs, and Ss managing it8 finan$ Indepandentty. The TruBlees conslder thls to be a positlve outcome In t•m15 of 8UPPOrtlng beneffd8wle6 toward$ or¢8ter Independence. In Order to Irryjrove the lono4emi effectlveness ol th16 888el, the Tru8tees are Beeklng plannlng p•ml88ion to convert the Wartin9ham property Into self-contained aparlments. An initlal application was not ?pprov•d, and revised scheme is in preparallon. Subject lo obtalnlng the necessary consents, Ihls development wlll require Invoslm8nt, whlch the Trustees conslder lo be an 8pproprtate and prudent use of the Trnst'8 resources in furtherance of its charitable purpose8. During the year, ¥ property In C8tetham Valley became 8vailable for purch08e. The Trustees havo agr•¢d lo proceed wlth the a¢qulsltion. subject to 6alisfactory Eornpletion of conveyancing, with the intenb'on ol further expanding the Trust'5 capauty lo provide housing for thosa In need. Al the date of signing, no legal commitment eited lor the purchase.
GRACE CHRISTIAN TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED FOR THE YEAR ENDED 28 FEBRUAR Y2026 The Trust hos c4Jntinued to prov6d• 8mo11 grants to local thurches In 8UPPOrt of thelr acJvltles and outr¢a¢h withln thelr communitses. Durfng the yeaT, the Tru$l$&s hav• also supported a church in south Croydon in developing pfopDsals to renovate ili building. This has involved engagement wtth the church leadership, profe8slonBI advS8er¥, and the wlder congTeg¥lion. Grants have been rrad& to ¢ontrlbule towards Ihe cost6 ol design work, visualiiation. and the praparatlon of a anniTrg application. Th8 Trustee8 fecognize Ihe importsnce of ensuring thal such projects are vlable. sustainable. and aligned wlth th• Trust'8 charftsble oblectlv85, and will continue to monrtor progre88 8¢cord5ng1y. In addition. the Twsl has made a number of grant8 to OTganl3atlonJ end Indlvldual8 engaged In communlc8ting th Chrl¥ti8n fath. both thIn the UK and over6ea$. These have induded 8upport for 8 thaatr• compony. a chlldren'8 worker b8¥vd In C•nlrnl Europe. and a thurth engaged in hum8nllarlan work in Eastem Europe. The Trustees are sallsfied th8t tha88 grants are con818tsnt wrth the Tru81'8 oblectlves and contrtbute to the advancement of Its chgrltablo purpose8. Flnan¢l•l r•vlew Income lor the year 13 £403.012 12025.. £938,418) ThlB Is lower th8n last year due lo a reducuon kn d¢fjallon6, however Inv¢8tment Income has seen a POBttive Inco8$e dun9 lh8 y88r. Expendltvre on tharitable activities wa8 £83,452 12025.. £32.4181. There is 8 gain of £56,957 1202S'. loss £4,913) on revaluallon of In¥e8tmenl$. The net movem8nt8 on funds was a 8urplu¥ for th• y•ar of £375,55312025.' £901,087). Reserves poNcy It Is the pollcy of the tnJ8t thBt Unrestcted lund8 whl¢th have not been deslgn¥l¢d for a spedflc use 6hould be m8lntalned at a18vel equlvalenl lo betwe8n three gnd six month's expendftuffj. Th¢ trustees conslder that reservp8 81 this level wlll trn$urè Ihat, in the event of 8 8igniflcanl drop thjndlng, they VAII be able to continue the trust'8 current act19 while consldaratlon is given to ways In which additional lundB may be ralBed. Thi8 level ol re$erv•8 ha3 been mAlntalned throughout the year. Pl•n• forfutur• p•rlod• Looking ghead. the Trustee8 Intand to continue to advence th• Tru8lB charttable oblÈctfve8 whllo •X•fcl$lng cgreful 8loward8hlp of Its resource8. In particular, the Trustees alm lo mak¢ further progres5 in Ihe developmanl of the Warflnghgm property, subjèct lo obtalnlng the necessary plannfng cons6nt, wilh a vlew lo enhancing 11$ ¢apAclty to provide sustainable houslng for th080 In ne. The Trustees 8180 expect to con(Inue working wlth the church In South Croydon to 8UPPOrt the development of vkqble and dellverable scherne for the n0¥tIOn or redevelopment of rt8 buildlng, regnIzIng the Importance of 8nsuring that propoBals are prBdical. 8U5tainable, and appropriatety re8ourced. More generally, the Truat••s 11 continue to administer th• Tru5Vs 8ssels and fijnds responBibty. applylng Ihem effeclfvety In furtherance of the TnJsfB purpo8e6. In doing so, the Trustees will have regard lo gpproprfate rfsk rnan8gement. value for money, and the Ch¥Tity Commi58lOVb'5 guidance on public benefit. Strueturg. governance and manag•m•rt The charfty Is controlled by ils governing dowrnnt. a d8ed of Injst, and conslilutes a company. limited by guarantee, as defined by the Ci)mpanI Act 2006.
GRACE CHRISTIAN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 The trustees. vtho are al80 the directors the purpo of company law. and vtho Served durfng the ye8r gnd up to the do19 of slgngture ofthe finanrAal Btatements were.. MrAMayo Mr l Mayo Mrs J hrtayo RecwittFl8nt and 8ppolnlment of Irustee8 New Trustees ar• rocrulttd as and when the rjjrrent trusleeB doem M n¢wsary. Any new Iw8tse8 are appolnted ty PD88lng an ordln•ry rlsolutlon at a general meelng of th8 company. or98n1s8t8l structu Curr8nity, th• d¥y lo day m•nagem8nt oflhe charity 18 undert8ken ic4aty by the Iru8tee8 oflhe chBwfjty. Induct and Iroinlng oftrust&es As part of the inducuon pro¢e8$ new Iru8leas are provlded vllh a ¢¢py of th• 'Stalernent of Beliets" that Ihè Gro¢• chrisn Tru$1 oper8le$ under. In addluon new tnJslee8 are provlded Charfty CommlSBlon documentatlon $0 tho1 they hove o full understandlng of their re8pon¥lblllll•8 0$ trust8. The trusl*es' po W88 approved by the Board of Tw$t¢•$. MrAM Tru•t•• 3rd July 2026 Dale..
GRACE CHRISTIAN TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRACE CHRISTIAN TRUST I report to the trustee8 on my ex8mlnatlon ofthe finanrAal 8tatements of Grace Chri8tian Trust (th• tmstl for the year ended 28 February 2026. R•¥pon•lbllltlo• and bw•lg of r•port As the tru$lee$ of the trust land also Its dlrèctors for the Purpos of company lawl, you are responsit4e for the preparauon of the financial slalements in accordance with the requlrements of the Companies Act 2006. Havlng satisfied myself that the finanual ststements ol the Irust are not Tequired to bè audlted under Part 16 of the Companies Act 2006 and are ellgible for kndependent examlnatlon, I report In re5P8Ct ol my examln8tion ol the trust'6 finand815ts18ments cariled out under $8ction 145 01 the Charities Act 2011. In carying out my examlnalion I have lolowed Ule Dlrections given by the Chgrtty Cwmission under sectlon 145ISllbl of the ChariUesAcl 2011. Indepgnd•nl •xamln•rf• •tatem•nt Slnce the trust'$ gro$s Income exceeded £250.000 your exarniner must be a m•mber of g bo¢ty1181ed In et10Th 145 ol the 2011 A¢t. I confirrn that l 8m qualtned to undertake th8 examlnation because l am a m•mb8r of the As50ua110n of Chartered Certified A¢¢ountanls. which is one of the Ilsted bodies. I have completed my expmlnallon. I confirm Ihal no mattèrs have come lo my attenllon In eonnectlon the •xarninalSon givlng ¢au$e to belleve that In 8ny mat•rfal respect.. accounting CordS were not kept In respect ol the IN$t 88 rnqulred by Bedon 388 oflh• Compan188 Act 2006. the fin8nci818tatements do not accord wlh those recordB', OT the financial slalements do not compty wrth the arx¢unling mqulremen18 018ecUon 398 of the Companie¥ Act 2006 oiher thAn Any requlrernenl that the nn8n¢lg18tatemenl8 gple ¥ tru• and view, wthlch is not a m•tt¢r con81dered 08 part of 8n independent examlnatson., or the flnancS8l $latemènti have not been prepared In accordance with th& methods and principle8 of the St8temenl of R¢¢ommeThded Practlce for 8ccounllng and reporung by ¢haritl8s applicable lo chari118s preparlng thalr flnancial stalemenli aceordonce vAth the Flnanclol Reporting Standard èppll¢abl• In the UK and Republlc ol Ireland IFRS 1021. I hove no concems and hav¢ ¢ome across no other m8ttèr8 In connection wlth the examlnallon to whlch attentlon should be drawn In thls report In order lo enable a proper under6tandlng of the finondal statements to be rea¢hod. John C•l•dln• FCCA CTA FCIE Culadine Limited Ch8nlry House 22 Upperton Road Easlboume East Sussex BN21 1 BF Dale..
GRACE CHRISTIAN TRUST STATEMENT OF FINANCIAL ACTIVITIES ONCLUDING INCOhlE AND EXPENDITURE ACCOUMTI FOR THE YEAR ENDED 28 FEBRUARY2026 Unr•8trlcted Unr¢strfct•d lund8 fund8 2026 2026 Nots• Incom• from.. Donotlon5 and legados ChBrilablo 8LXlvrtle8 Investments 325.000 20,000 58,012 871.000 30.000 37,418 Total Incom• 403,012 938,418 Exp•ndlfvr• on.. Ralslng bJnd8 Ch8dtable activilie8 8.218 77.234 5,127 27,289 Totsl •xp•ndltur• 83,452 32,416 Net galn81lloB6es1 on Inv•8tm•nts 13 56.957 14.9131 N•t In¢¢m• 378.517 901,OB7 Other r•¢ognl••d gn$ •nd lo••••'. Olh•r1095e8 19641 movem•nt In fund• io 375,553 901,087 R•con¢lll•tlon ol fund•: Fund balances at 1 Mard) 2025 2,829.824 1,928,737 Fund b•lanc•¥ It 18 F•bw*ry 2026 3,205,377 2,829,824 The stalemenl of finandal aetlvbfj88 Includes all galn8 and108888 recognlsed th• y•8r. Al Ino)me and expendNur• derive from continulng 8cts"vltle8.
GRACE CHRISTIAN TRUST STATEMENT OF FINANCIAL POSITION ASAf 28 FE8RUARY2026 2026 2025 Notes Flxed a••et• Pioperty, plant and equlprnent Investments 1,125,118 725,740 1.140,857 663.599 17 1,850,858 1,804.456 Current a•••ts Trade and other Terable8 Cash at bank and In hand 7,895 1,348,904 4,199 1.023,329 1.356,799 12.2801 1,027.528 12.1801 Curr•nt Il•bllltl•• 19 Net curr•nt a•••t• 1,354.519 1,025,368 Total ••••t• l••• eurr•nt Ilabllltl•• 3.205,377 2,829,824 N•t a•Ht• 3.205.377 2,829,824 Th• fund• of th• tnmt Unre6trfct8d fvnd6 3,205,377 2,829,824 3,205,377 2,829,824 The ¢omp8ny18 8ntttled to the exempuon froffl the audlt requlrement contalned In 8•don 477 of the Compan1?$ Acl 21)06, for the year ended 28 FelxuBry 2026. The dlrector8 acknovAedg8 th•lr reOnsIbIle8 foi comptying vAth th• requirements ol Ihe Companles Act 2Crf)6 wlth respect lo acc¢untlng reeordg and the preparation of flnand•l $talemont8. The mernbèrs h8v8 not r•qulred the compony to obtaln an audit of Its flnandal ¥lalem•n18 for Ihe yeBT In questjon In accord8n¢è wlth 8ecllon 478. The$e flnandal 8talemenls have been pr¢par8d In accordancè th th8 pfovlslons appllcable lo companles subject lo the Bmall companies reglme. The fln ¢lal lal¢mgnts wem approved by the tru$ts¢$ Mayo Tnt•• Mr l Mayo Tru Company registration numb•r 07163237 (England and Wale61
GRACE CHRISTIAN TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 28 FEBRUARY 2026 2026 2026 Ca•h flow• from oper•tlng actlvltle• Cash generated from tsp6rallons 22 276,443 883.687 Inve•tlng 4ctlvhl•• Purchase ol investments Proceeds from dl$pos41 of Investmants Inv&stmenl income received 1213,1481 207,964 54,316 161,0101 51,288 33.217 N•t ¢a•h q•n•rnt•d from Inve•tlng •¢VItI 48.132 23,493 N•t In¢r•••• In ca•h and c••h tyulv*hnts 325,S75 907,180 Cash and c88h equfvalonts at b•glnnlng ofyear 1.W23,329 116,149 Ca•h and ¢•¥h •qulvalonts •t •nd of y••r 1.348,904 1,023,329
GRACE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUAR Y 2026 Accountlng pollcl•8 Compony Infomiatlon Grace Christian Trust li • private CAympany Ilrnhed by gu8ranlee IncowporBtsd In England and Walei. Tho reglstered office is ONord Manor. Shorehlll Lane, Otfrrd, Kant. TN15 8XF. 1.1 8a•iB of prep4rJtlon The ffinancial 8talements havg bgen prepared in accordanc wllh the ITU81'8 govemlng document. th8 Companies Act 2008. FRS 102 Yhe Flnancial Rèporting Standard appllcBbltr In the UK ond Republlc of Ireland. C'FRS 1021 and the Ch8ritSe8 SORP 'Accounllng and Repon9 by Charitles.. Statement ol Recommend¢d Pradce appllcable lo ch8ritles preparlng their accounts In accordance with the Finandgl Rep¢rtkng Standard applicable in the UK and Republlc of Ireland IFRS 1021. leffectlve 1 J•nu#ry 20191. The trust IB a Publlc Beneffit Enlbty defined by FRS 102. The flnandal 3tatements Ar• prepored in sterfing, whlch Is tha functlonal curr•ncy of the trust. Mon•tsry amoun15 In these flnan¢lg1 st8tem8nls are rounded to lh• nearest £. Tho financlgl statements have been pwpgred under the hi810rf¢81 cost conventlon, lrnodified tv Include the rev8lu8tion of freehold propertles and to include inve8tmenl prop8rt188 and certain flnanclal Instruments at falr valuel. The prlncSpal accountlng pollda8 adopted are 8151 out below. 1.2 Golng ¢on¢èm At the tlme of approng the fln8nclal statemen15, the tru$loe$ have a reasonable •xpect8tlon that the Iru8t ha6 adequate resourc8S to conts'nue in oper8lional existence lor the foreseeable luture. Thu6 the trusl•e8 conunue to adopt th• golng concern ba81¥ of accounllng In preparfng th? Ilnandal 8tatoments, 1.3 Ch•rftable fund• Unrestrfcted lundo are avallable for al the dl8cretlon ol tho trustee8 In fvrtheran of Iholr ch8rftsble oblectlve6. Resthcted fiJnd8 are 8ublect lo gpedflc condrtlon6 by donors or gr8ntOf8 as lo how Ihoy may be used. The purposes and usts of tho r8strlcted funds are 6el out In Ihe notes to the financlJl $tst•mants. Endowmant funds are subject to 8pgcmc condillon8 by donorn th81 Ihe capital must be mjlnlglned by the trust. IA Ineom• Income is re¢ognlMd ¥then Ihe tru8t18 legalty enlV¢d to h after any perfomiance condltlons have en mgt. the amounts Can b8 measured rellabty, and il is probgble that Income wlll bo r•c8lved. C85h donallon8 are r8cognlsed on recefjpt. Other donatlons Are recognised On the trust has been notified of the donation, unl¢s$ perf0mlan conditions require deferral of the arnount. Income tsx recoverable In Tel816on lo donations recelved under GhlAld or d8od8 ol covenant 16 recogni&èd at the Ume of the donation. Legacies are recognised on receipt or otherwls? If the trust has been notffied of an Impending dl8lrfbutk*n, thg 8movnt 18 known, and receipt Is exp8ct8d. If the gmount Is not knovm, tha legacy is treated ag a coHtingent •55et.
GRACE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2026 A¢¢ountlng poll¢1 IContlnu•dl 1.6 Exp•ndlture Expendlture Is recognised once ther• Is a legal or constructivo obllgAtlon to tranBfer economlc benefft to o thlrd p8rty. h Is probable that a transf8T of economlc b8nefftB 11 b$ qUIred In setMem8nl, and the amount of thè obllgation can be measured reliably. Expenditure 18 dessed by adJvlty- The cos16 of e8th actlvty arn made up of the totsl of direct cost8 and shared costs, indudlng Support costs involved In undertaklng each aclvty. Dliect co$1$ attdbutable to B single activity are ¥llo¢ated directly to that actfvity. Shared costs whlch contribule lo more Ihan one activlty and support costs which are not attributable to 8 sSn9le acijvty are apportioned btheen those activilles on a b9815 ¢01131stent with the use of Te8ourc¢s. Central staff costs Bre allocatgd on the bBsli of tim• spent. and d8piedatlon charges are Blloc8led on the portlon of the asset's us•. 1.6 Prop•rty, plant and equlpment Propety, plbnt and 8quipmant are Initlally msUred at ¢08t and sub6equ•nlty m•a8ured 8t CO81 or valu8tS0n, n?1 of deprndatlon and any iralM7nIr08leS. Depredation IB recognlsod so as to write off the ¢011 or vAlualcfj of ajseti le$¥ Iholr re81duo1 value8 over Ih•lr u8eful Ilves on the fo10Trg basle.. Freehcld 18nd and bulldlng$ Flxtures and fittingB 2% Slrolght Ilne 33Y• BITaighl Ilne The galn or loss art81ng on the dl#pos81 of An a8set18 detennined a$ the dlfference befvleen thè 8ale proceed8 •nd tha carrylng value of thtr 88set. and13 recogn13ed In th• ¥tatement of fin8nrAal actIvIo8. 1.7 Nonllcurrent Inv••tmenti Fixed aB8et investment8 are Inllially me88ured at trnnsactlon prfco •xedInG lrnn8acllon co¥l¥. and Jr• $ub¥equentty megsLtred at falr value al each reportjng date. Changes In value are rcognli¢d In n•t IncDmell8xpendllurel for the year. Tr8nsaction costs are eXpend 8s IncUrd. 1.8 Impalrm•nt of non-curr•nt 4•80ts Al each reporting end data, the trust revlow8 th• carylng omounl8 of it8 tanglbl& #888t8 to determine whether there 13 any Indl¢8tlon that those assets have 8uff?r•d Impalmienl 1085. If any such Indlcatlon exl¥ts, the recover¥bb amount of the asset is estimatéd In order to determine the extent ol the impairmenl195$ IW onyl. 1.9 C•8fv •nd ca¥h equl¥ahnt• Cash 8nd cash equiv8lents include ush hand, depo$lts hold at call banks, othèr 8hort-term Ilquld investrnenls with original maturities of three months or 1¢$$, and bank overdrafts. 88nk overdrafts are Bhovm thin borrwngs in current liabilitles. 1.10 Fln•nci•l in¥trurnonts The trust has elected to •ppty the provisions of Section 11 'Baslc Fln8nrAal InslNments' and Sectlon 12'01her FlnanThal In3lruments Isgue8' of FRS 102 to all of its flnanclal instruments. Flnanclal Instruments are recogn15¢d In the trlr5 balance sheet when ihe trust becom0$ p8ty to the ontr8Ctual provision8 of the Instrum1. Finanryal assets and liabilitles are offseL wth tho net amounts presented In the fin0nci81 $18tement8. when there is 8 legally enforceable right lo set off the recognised amounts 8nd there is an intention 10 5elUe on a net basls or to realise the asset and settle the Ilability 8imull?n¥¢*usly.
GRACE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 28 FEBRUARY2026 A¢countlng pollcl•8 (connu•d) B•slc Iln•nclal assets BASIC finanaal assets, which inchjde trade ènd othèr feceivMble8 and cash and bank balances. are Initlalty measured ot transactlon price includlng tran$a¢tlon cosis and are subsequentty cBrrled at amortlsed cosl using the 8ffective interest rnethod unless the arrangemenl con8trtutes 8 finandn9 trans8Ctty)n, where the transactlon 15 rneasured al the present V81ue of the future receipts dl8counl•d At a markal rate of InteresL FinanrAal as6ets das5th8d as raceivable ¥in one year are not amortJ"sed. Bajic flnancl•l Ilabllltl•8 Basic financial liabllitles, In¢ludln9 trade and other payable6 and bank loans are Inillalty recogni5ed al transaction price unless the 8rrangamenl constituteB a financing tr8n8acllon. Whe the debt Instrument l¥ measurtd at th& presènt value of Ihe future payments dlscount¢d at a market faie of intere51. Finandal liabllille$ das$lfi¢d a$ p8yable wllhSn one year are not 8mortls•d. Debt Inslrum8nl8 ale subsequenlty carrf•d al amortlMd cost. using the effedve Int¢f•8t f8le method. Trade payableB ar• obllgalons to pay for good8 OT servlct$ th•t hav• ba•n aquired in the ordlnary COUTJe of operation3 from Suppliers. Amounts payable Bre da¥$lfied 98 currant 118blllNes bf payment 16 due wllhln on¢ ye8r or less. If not. Ihey are presented as non-¢urr¢nt liabllttles. Trade payablès are r•co9n18ed inltlally 81 Irgns8Ction price and sub8equenlty rneasud 01 arn¢rtlsed c08t U81ng Ihe effecllv& Interest mathod. D•r•cognltlon of Iln•n¢hl Ihbllltl•¥ Flnandal 11gbilrties derecognloed when the Iru$t'$ contractual obllgaUDn8 oyplro or 8r• dlscharged or cancelled. 1.11 Employee benefit• The cosl of 8ny unuBed holld8y enltlèm•nt 18 fecognlsed In the perfod In whlch Ihe employee'8 Bera6 are racalved. TeIaOn benefits 81¢ recognlsed Immedlalety as an expen88 when the tsusl Is demonstrably committed lo lemiin8t8 the employment of an employee or to prowld• t•mlnation beneflts. Cyltlcal accoUnn9 ••tlm4te• and Judg•m•nt• In the appllcatlon of the tru$f¥ grcountlng pollcles, the tru31ee3 are requlred to makfr judgements, estimate¥ Bnd assumptlons about the carylng amount of 85sels and IlablllUe$ that are not readlly apparent from oth•r Éourc•s. Thè astlmates and associated assumptions are based on hlstorlcal experien and other tsdors that ar• congld•red to be relevont. Actval TesuttJ may dNf•r from Ihese estlmates. The estimates arml undertying 8s¥urnplons a reviewed on en ongoing b8$1s. Revlslon3 to accounlng esllmate8 are recognlsed In th8 perfod In whlch the esllmate li r8ViBed where th8 revision affect5 onty that period, OT in the p¢rfod of Iht ravlslon and future periods where the revlsion affects both current and fiJluTo porlod•. Income from don•tlons and legaclo1 Unrn8trlct•d funds 2026 Unre8trlctod funds 2025 Donations and g1ft5 325,000 B71,000 10-
GRACE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2026 Income from charftabl• •ctlvlOeB Charftsbt• Charltabl• Income Incom• 2028 2026 Charftable rent81 in¢ome 20.000 30.1KJO Analy•l• by fund Unre61ricted funds 20,000 30,000 Incorn• frnm Inv•4tm•nts Unrn•trlcted Unrn•trlct•d lund• fund• 2026 2025 Income from Ilsted Inve8lmenl• Inlere¥t recelvable 10.078 47.934 9,eco 27,818 58,012 37.416 Exp•ndlturn on rnl•lng fund• Unre•trtct•d Unrn•trfct•d lund• lund• 2028 2025 Inve•tffl•nt manag•m•nt 8.218 5,127 11
GRACE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2026 Exp•ndIre on ch•rlt•ble *¢tlvlUeJ Charlt•bl• •xpendltur• Charttable expenditure 2026 2025 Dlrect co•ts Depreciation and Impalrmenl Rent81 prop¢ty 8xpense8 15,738 22,870 18,111 1,259 38,408 17,370 Grant lundlng of actlvitl?B not• 81 30,951 7.519 share of •upport •nd gov•rnanG• Gts l•M n¢t• 91 Govemgnce 7,875 2.400 77.234 27,289 An•ly•l• by fund Unreitricted fund8 77,234 27,289 GT•nt• pyabl• chabI• •xp•ndhur• 2028 Ch8rltabl8 expenditure 2025 Grants to InBtltuUon8'. Mlcro gr#nts to local UK chuTthe$ other 7,269 18,987 7,519 24.238 7,S19 Gronts lo Indfvlduals 8,715 30,951 7,519 12-
GRACE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2026 Support costs •lloc•tsd to •¢tlvltle• 2028 202B Offlce èxpense$ Governance costs 233 7,642 153 2.247 7,B75 2,400 Charltable expendltur8 7.875 2,400 2028 2028 Gov•m•nc• eo•ts compTI••: Ind•pendent examkn8lh)n fe88 Accountancy Legal and profe88ional Sundry oxpen$e$ 1,000 1,334 3,302 2,006 1,2 7,642 2.247 10 N•t mov•m•nt In fund• 2026 2025 The net movem?nl In fund6 1$ itated After charglngllcredillngi.. Fee¥ payabl¢ for the kndap•ndenl examln8Jon of th• ch8rfVs )Inandal Bt8tement$ Depreciation of ownad propety, plant and equlpmont 1,000 15.738 1,920 18.111 11 Tru•t••¥ None ol the twsl8•8 lor any persons connected with thpml re1ved any reMunemOn or b•n•fits from the trust durfng th8 y88r. 12 Employ• The average rnonlhty numb*r ol•mployees during the year wa5.. 2026 Numb•r 2025 Number Total Thare were no employees who8e annual rgmun8rallon was more than £fjQ,OtrJ. 13-
GRACE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 28 FEBRUARY2026 13 Gain• •nd loue• on Inve•tments Unre•trl¢t•d Unr•8trlcted lund• funds 3026 2025 GaIn(lo$S91 arislng on- Rev8lu8lon ol Investment8 Sale of in¥e8lmenls 112,214 {55.2571 18,6701 1,757 56,957 14,9131 14 Tax•tlon The ¢h¥rtty Is exempt from taxallon on Its Acllvhle8 becau8tr 811 Income Is Applled for charltablo purpo888. 15 Oth•r g•ln• and Io•M• Unr••trlcted Unr••trlct•d fvnd• fund• 2026 2026 Goln8lllo$Bes} upon.. Forelgn exchang• 18 Prop•rtyJ pl•nt •nd •qulpm•nt Fr••hold l•nd FIXtw 4nd and buMdlng• flttln Tot•1 Cogt At 1 MArch 2025 1,180,381 1,121 1,181,502 At 28 February 2026 1,180,381 1.121 1,181,502 Depr•¢l•tlon and Impalrnient At 1 M8ich 2025 DepreclalSon charged in the y¢8r 39.525 1 5,738 1.121 40.646 15,738 Al 28 Fttrrtuwy 2028 55,283 1,121 58.384 Carrylng amount At 28 February 2026 1.125.118 1,125,118 Al 28 F•bw4ry 2025 1.140,8S7 1.140.857 Freehold land and buildings contslns a r¢8ldentlal property purch8sed by the chartty during the year. This is being rented out to families in need. al 8 below markel late level of fent. As such, it is held for th¢ fulfillrnent irf tharitgble purposes, rather than Investment retUTns, and hence Is induded 85 P tan9ible frxed asset In use. 14-
GRACE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2026 17 Flxed asset Inveth•nt• Llt•d Inve•knents Coat or ¥olu•tlon At 1 March 2025 Addllions Valu8tlon cAnge$ Dlsposals 683.599 213.148 112,214 1283,2211 At 28 February 2026 725,740 C•rrylng •mount Al 28 February 2028 725,740 At 28 February 2025 883,599 18 Trad• and oth•r Mc•lv•bl 2026 2026 Amounts f•lllng du• 4thln on• y•qr: other roc•lv•ble$ 7,895 4,199 19 Curr•nt Ilablllll 2028 2025 Accrua18 and deferred Income 2.280 2,1 10 Unr•strlet•d fvnd• Th8 unS'cted funds ot th• tharlty compr13e the un8xp•nded balances of dvnollon8 and grants wh1( •re not subject to Spodfic condltlons by donorB and grantors as to how they may be used. These indude designated funds vknich h&v• been set aside out of unrestricied fvnds by Ihg Iru8lees for sperAfl¢ purpo8•9. At l March 2025 Incomlng r••ourc R•soureeg oxp•nded GalnB •nd At28 lo$sè•F•bruary 2028 Genaral funds 2,829,824 403,012 {83,452) 55.993 3.205,377 Previous y•ar: At 1 March 2024 Incomlng re•ourc•s Resources expend¢d G•ln• •nd At28 10oMsFebruary 2025 General fund8 1,928,737 938,416 132,4161 {4,913} 2,829.824 15-
GRACE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2026 21 C•4h generated from op•r•tlon• 2026 202 Surplus for the year 376,517 UbJl.087 Adlu&tm•nts far.. Inveslmenl Incom8 rets)gnls8d In 8tatsm•nl of financlg18CtivlU•8 For•lgn exchange dlfferencas Lo1[984n) on dlsposal of inveBtments Fglr value gains &nd1088•8 on InveBtmenl8 Depr•datk)n and lfflpalmionl ol propety, an1 and equlpmenl {58.012) 19841 55.257 1112.2141 15.738 137,4161 11,7571 8.670 16.111 Movem•nt• Irb worklng c•pttAI: Incrnaselldecrea881 In trade and oth•r payable8 121 11,0081 C••h q•ner•t8d Irom op•ratlon• 276.443 883.687 21 An*ly•l• ol ch•ngM In n•t lund• Th• IN8t had no materlll debt durfng the year. 76-