## (Unaudited accounts)
## Grace Church Salisbury
Report and Accounts Year ended 31 August 2024
1
## **GRACE CHURCH SALISBURY**
## **COMPANY INFORMATION**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
## **Trustees**
M Faulkner M Greenstock (Chair) S Mathews P Moffat
## **Key Staff**
D McNee (Team leader) -- from April 2024 D Maskell (Elder)
## **Governing Document**
Memorandum and Articles of Association dated 9th July 2010
**Company Registration Number**
07310012
## **Charity Registration Number**
1137954
## **Principal Address and Registered Office**
Sarum Academy Bungalow, Westwood Road, Salisbury, Wiltshire, SP2 9HS
## **Independent Examiner**
D Rogers AAT Accounting Hut 57 Braemar Drive, Christchurch, BH23 5NW
## **Bankers**
Lloyds Bank plc CAF Bank Ltd
|**Contents**|**Page**|
|---|---|
|Trustees' Annual Report|1-6|
|Independent Examiner's Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Notes to the Accounts|10 - 15|
|Detailed Statement of Financial Activities with Comparatives|16|
## **GRACE CHURCH SALISBURY**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
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 ending 31st August 2024. 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 to the UK and Republic of Ireland (FRS 102) (effective January 2019).
Grace Church Salisbury is a growing diverse community of Christians who meet as one church in multiple locations in and around Salisbury. We are part of Commission which is a family of churches that is part of the Newfrontiers network of churches.
The Church is not a building, but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by Jesus Christ, the Son of God. The New Testament reveals the Church as a community of people, properly taught and cared for, who by loving and serving Jesus Christ, were also committed to love and care for each other and to bring a blessing to the area in which they lived. Grace Church Salisbury; its Trustees, Elders and Members are committed to the restoration of those New Testament principles. It is not alone in this, it is one of many Churches in the area, country and all over the world that is re-discovering the excitement of knowing Jesus Christ. The vision is to see the people of Salisbury and its surrounding area come into this experience of knowing Jesus as their Lord, Saviour and friend.
Our Vision is to know, love and worship our Heavenly Father and to see Jesus change thousands of lives by the power of the Holy Spirit.
Our Mission is to make disciples, serve our communities, plant new congregations and reach other nations.
## **OBJECTIVES AND ACHIEVEMENTS**
## **Objectives and Aims**
The Charity’s objectives are, for the benefit of the public, in such parts of the United Kingdom or the world as the Trustees may from time to time think fit:
1. To advance the Christian faith in accordance with the Church’s Statements of Beliefs.
2. To relieve sickness, distress or financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support.
3. To advance education, marriage and family life in accordance with Christian principles
## **Achievement and Public Benefit**
The Trustees are mindful of the Charity Commission guidance on the importance of tangible public benefits from the work of the Charity. We have sought to ensure our activities are available and open to all within the community within which we serve, both in the provision of services of worship and in the provision of community activity and support.
## **Priorities for the year have been:**
1. Continuing to develop the church family and support individuals with increasing numbers involved in the life of the church.
Page 1
## **GRACE CHURCH SALISBURY**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
2. Continuing to develop the teams for all aspects of church life and supporting and developing team leaders.
3. Appointment of a new Lead Elder designate oin April 2024, accepted fully into leadership in October 2024. Ongoing development of wider and diverse leadership as we look to grow the church and create a new Eldership Team.
4. Bringing the love of Christ to the community through:
· Alpha courses explaining why Christianity is ‘the gospel’ (i.e. ‘good news’),
· the work of Parish Nursing through meeting the physical, mental and spiritual needs of those most in need in the community and beginning to set up a small team of volunteers to support the clients under the care of the Parish Nurse.
· encouraging every member of the church to be salt and light to their neighbours and working alongside of similar hearted charities (such as "Rise 61")
## **Public Meetings:**
Sunday meetings are a time of worship, prayer and teaching for adults and children which is free and open to anyone who wishes to attend. It is an opportunity to share with others our Christian life and faith, learn about the Bible and Jesus and to meet together with our diverse family which comes from different backgrounds and cultures.
The church saw a gradual increase in numbers attending the weekly Sunday meetings. From mid 2023 to the present time there has been growth from about 150 people at our Salisbury venue on Bemerton Heath to regularly gathering between 200 and 220 people each Sunday.
In order to maintain contact and be accessible to as many people as possible, services continue to be recorded and made available in video form through YouTube and in audio form through our website.
## **The Next Generation:**
There are a number of groups on Sundays for children of different ages where the children can learn about Jesus and grow in their relationship with God in a safe and fun environment. We have four age related groups with about 40 children attending these groups.
The number of youth in the church, aged 11 – 18, continues to rise. Apart from regular work on Sunday mornings, there is a monthly gathering on Saturday evening for fun activities and some teaching with a third context of gathering together in same sex groups once a month for more in depth bible study. This group is essentially led by volunteers who are passionate about raising a generation of young people who love and honour God. There are now 44 youth (30 in 2023) on the books with an average attendance on Sundays of 27. 31 youth (23 in 2023) were supported to attend Newday in 2024. This is one of the largest Christian youth events in the UK where 12 – 18-year-olds can go to learn about and worship God.
## **Bringing the Love of Christ to the Community:**
Community Groups, called Life Groups, meet in various took place in all of the pre-pandemic locations around Salisbury, Wilton and Amesbury. These small groups meet in homes during the week and are led by volunteers. The groups provide an opportunity for people to connect with each other in order to grow as disciples of Jesus through exploring the Bible, worship and praying for one another. The 10 Life Groups reflect the diversity of Grace Church and continue to serve about 150 individuals.
Page 2
## **GRACE CHURCH SALISBURY**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
During the year Grace Church ran an Alpha courses with an average of 17 attendees. The Alpha course is an internationally recognised course that gives people who may not attend a church or who may not have a Christian faith, the opportunity to engage with members of the church to find out more about the Christian faith. The course is open to all, there is no pressure, no commitment and the course is free, with a meal included. It is a great opportunity to receive some teaching, ask questions and discuss the big questions about life in a safe and friendly environment. As a result of attending our Alpha courses, individuals have gone on to attend our “Explore Membership” course and have been welcomed into membership of the church.
## **Practical Care in the Community:**
Grace Church employs a Parish Nurse who provides support in the local community for clients with physical, social and mental health problems, both at times of crisis and for long term problems. There has been a steady increase in the number of referrals which come from a variety of agencies across the city. Interventions vary from being an advocate to health promotion, end of life support to developing group support for chronic respiratory problems. The Parish Nurse is able to offer spiritual support and prayer and is thus able to share God’s love with clients and other individuals with whom they are linked. In addition, the Parish Nurse has been able to engage other professionals and members of the church to reach into the community that she serves. The feedback we receive from both professionals and clients continues to be extremely positive and thankful for the work of our Parish Nurse. Due to the increasing number of referrals volunteers have been identified and will be joining this service to support the work of the Parish Nurse.
We continue to explore ways to serve our local communities with spiritual and practical life issues. Along with many churches, we are encountering those needing help with life in physical and mental health aspects and seeing an increase in people from all backgrounds expressing a need for nonmaterial aspects of life and values.
The members of the church have consistently been applying the principles of church life outlined in the New Testament to be ‘salt and light’ in the community, in the places they live and work and in having an impact on social attitudes in wider national society.
## **Staff and Team Resourcing:**
We are very pleased that an appointment has been made for a new employed leader, David McNee, with effect from April 2024, who will play a key part in the Eldership Team.
Whilst the church employs six different individuals in a variety of roles (two Elders, Operations Manager, Finance Officer, Parish Nurse, and Youth leader) we are fortunate to have many members who choose to give their time freely to all aspects of church life, “being salt and light” to the church and community, by providing technical, administrative and practical support.
This myriad of individuals, both employed and voluntary, through sacrificial serving, show the unconditional love of Christ through their actions which have a positive effect on our community. Much of this work is done privately, without recognition and the hours and value of the time cannot be quantified.
Page 3
## **GRACE CHURCH SALISBURY**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
**Bringing support to churches working elsewhere both in the United Kingdom and overseas** Grace Church supports the work of churches across the Salisbury area through local leadership encouragement and as part of ‘Commission’, which is a family of churches that is part of the Newfrontiers network of churches.
Further afield we continue to invest in a church plant in Ghana, now in its sixth year. Despite the complexities of life in Ghana it is good to see that the church becoming more established and numbers are slowly increasing. Grace Church continues to provide financial support plus mentoring is provided by the Elders and other members of the Commission Leadership Team.
## **FINANCIAL REVIEW**
## **Financial Position**
The Financial Team which includes Trustees, an Elder and operational staff, closely monitor the finances with reports and face to face discussions each month. Income increased on last year by over 10% due to our membership continuing to give faithfully and provide almost all of the income for the running costs and for the work that we undertake. In the absence of new external grant to support the work of the Parish Nurse, church members and others in the community continue to provide additional finance to maintain this service at its current level at a time when healthcare services are extremely stretched.
As a church we aim to give away about 10% of our income to other causes. During this financial year regular donations were made from general funds abroad totalling £16,000 and £6,000 to Commission both to support church planting. Grants of £2,500 were made to suppor the great work of Christians Against Poverty, undertaken by St Pauls Church in Salisbury, and approximately £6,700 was given, primarily to individuals, to relieve hardship.
We believe that one of the most effective ways to serve our community in the long run is to purchase a building of our own. Currently we hire facilities at a school for which we are extremely grateful, however this does curtail our potential activity options. To this end we continue to raise money through Gift Days, for a deposit for a building. The building funds are held as designated funds rather than as restricted funds to give flexibility if, for any reason we decide not to acquire premises, or there are surplus funds left over following the acquisition of any premises. In this event we will use the money to further the charitable purposes of the Church.
Total income for the year was £293,000 (2023 £260,000) with expenditure of £263,000 (2023 £212,000) as we expanded the staff team in the anticipation of further growth and development of the work of the church serving the community and abroad. As a consequence, this resulted in a surplus of £30,000 (£48,000 in 2023). �
## **Reserves Policy**
Our policy is to retain sufficient reserves:
• To ensure that Grace Church has sufficient funds to meet its financial commitments.
• To demonstrate that Grace Church has a sustainable future
• To ensure that Grace Church is able to manage unforeseen financial difficulties
• To ensure that excessive funds are not held without any identifiable reason or for any identifiable purpose.
Page 4
## **GRACE CHURCH SALISBURY**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
With the above in mind, the Trustees have set a policy to retain reserves to cover three month’s average monthly operational costs which equated to about £70,000 in this coming financial year. The level of free reserves at the end of the financial year amounted to around £165,000. (see Note 13). The excess of around £95,000 will be used for the expanded staff team given the appointment of a new full time Elder and continuing to develop activities to advance the Christian faith both within the church and the community, hence why the amount held is temporarily higher than the policy figure.
## **Investment policy and objectives**
The Memorandum and Articles of Association state that the charity may make any investments which the Trustees consider appropriate. No investments were made during the period under review.
## **STRUCTURE, MANAGEMENT AND GOVERNANCE**
## **Governing Document**
The organisation is a charitable company limited by guarantee, incorporated in 9th July 2010 and registered as a charity on 10th September 2010. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £10.
## **Charity constitution**
The charity is incorporated and registered with the Charity Commission. It was established on 9th July 2010 under a Memorandum of Association and changed its name on 6th October 2016 to Grace Church Salisbury from its previous name of Salisbury City Church
## **Recruitment and appointment of new Trustees**
The Trustees, who are also Directors, are appointed on the approval of the Members/Elders. They bring with them skills, experience and abilities which contribute to the effective and efficient operation of the charity and company. They are responsible for the general management of the charity and company and give their time freely, receiving no remuneration or other financial benefits for the work that they do.
## **Charity Structure**
Grace Church is a Christian church which is governed by a spiritual leadership team, currently comprising three Elders with one being the Lead Elder. These individuals are responsible for the spiritual direction and day to day activities of the church with the Senior Leadership team supporting the Elders in planning the way forward for the church. Locally Grace Church is part of Churches Together Salisbury as well as a member of the Evangelical Alliance.
## **Decision Making**
The Trustees have delegated much of the day to day running and administration of the charity to the employed staff and meet regularly with one of the Elders to discuss plans, issues, finances and matters relevant to the church. Trustees are available to the Elders in between meetings, if required.
The Trustees, all of whom are members of the church, continue to monitor all aspects of risk, the financial position of the church, the quality of the accounting and the impact of the economy on the life of the church
Page 5
## **GRACE CHURCH SALISBURY**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
## **Responsibilities of Trustees under Company law**
The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the Trustees are required to:
1. select suitable accounting policies and apply them consistently;
2. observe the methods and principles in the Charities SORP (Accounting and Reporting Statement of Recommended Practice)
3. make judgements and estimates that are reasonable and prudent;
4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Approval**
This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the Trustees and signed on their behalf by:
_____________________________________ Stephen Mathews -- Trustee
Date: 14th April 2025
Page 6
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **GRACE CHURCH SALISBURY**
## **('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024 on pages 8 to 16 following, which have been prepared on the basis of the accounting policies set out on pages 10 to 11.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance 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 audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians, which is one of the listed bodies.
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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 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 report in order to enable a proper understanding of the accounts to be reached.
D Rogers AAT Association of Accounting Technicians Accounting Hut 57 Braemar Drive, Christchurch, BH23 5NW
Date: 16/04/2025
Page 7
## **GRACE CHURCH SALISBURY**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations
3
Charitable activities
4
Investments
Other income
5
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
13|Unrestricted
Funds
£
254,999
11,906
1,946
-
268,851
235,261
235,261
33,590
357,242
390,832|Restricted
Funds
£
24,949
-
-
-
24,949
27,738
27,738
(2,789)
8,761
5,972|Total
Funds
2024
£
279,948
11,906
1,946
-
293,800
262,999
262,999
30,802
366,003
396,804|Total
Funds
2023
£
252,499
7,624
-
651|
|---|---|---|---|---|
|||||260,774|
|||||212,846|
|||||212,846|
||||||
|||||47,928
318,075|
|||||366,003|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on page 10 - 16 form part of these accounts.
Page 8
## **GRACE CHURCH SALISBURY**
## **BALANCE SHEET**
## **AS AT 31 AUGUST 2024**
|Note
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors
9
Cash at bank and in hand
10
**CREDITORS: Amounts falling**
**due within one year**
11
**Net current assets / (liabilities)**
**TOTAL NET ASSETS**
**FUND BALANCES**
13
Unrestricted Funds
General funds
Designated funds
Restricted Funds|Unrestricted
Funds
£
6,266
6,208
383,837
390,045
(5,479)|Restricted
Funds
£
-
-
5,972
5,972
-|Total
Funds
2024
£
6,266
6,208
389,809
396,017
(5,479)|Total
Funds
2023
£
5,922
2,778
363,223|
|---|---|---|---|---|
|||||366,001
(5,920)|
||384,566|5,972|390,538|360,081|
||390,832
172,801
218,031
390,832
-
390,832|5,972
-
-
-
5,972
5,972|396,804
172,801
218,031
390,832
5,972
396,804||
|||||366,003|
|||||151,720
205,522|
|||||357,242
8,761|
|||||366,003|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
- The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (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 net income or expenditure 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.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors and were signed on its behalf by:
---------------------------------------
Stephen Mathews
Date: 14th April 2025
Company number: 07310012 Charity number: 1137954
The notes on page 10 - 16 form part of these accounts.
Page 9
## **GRACE CHURCH SALISBURY**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
## **1 Statutory Information**
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
## a) Going concern
The Trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations includes:
- i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
- ii) The charity relies on volunteers to carry out many of its activities.. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.
Investment income represents income generated by the charity's assets and includes income from letting the charity's property and bank interest.
Other income comprises gains arising from the disposal of tangible fixed assets / social investments.
## c) Expenditure
- Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The cost of raising funds is not significant and has not been separately disclosed.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
## d) Fund accounting
- General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
Page 10
## **GRACE CHURCH SALISBURY**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
## e) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £500 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
Equipment
Over 3 to 7 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
## f) Pension scheme arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
## g) Taxation
The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
## h) Financial instruments
The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
## i) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
j) Critical accounting estimates and areas of judgement The Trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
## **3 Donations**
|**3**
**Donations**|||
|---|---|---|
|Donations of cash and similar
Other grants receivable
Income tax recoverable
**4**
**Income from charitable activities**
Church retreats and events
Other sales
**5**
**Other income**
Gains on disposal of:
tangible fixed assets|2024
£
228,112
-
51,836
279,948
2024
£
11,666
240
11,906
2024
£
-
-|2023
£
207,143
5,000
40,356|
|||252,499|
|||2023
£
7,321
303|
|||7,624|
|||2023
£
651|
|||651|
Page 11
## **GRACE CHURCH SALISBURY**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
## **6 Charitable expenditure**
|**a**
**Costs incurred directly on specific activities**
Staff salaries, travel and expenses
Venue and meeting costs
Equipment and depreciation
Conferences and training
IT and communications
Miscellaneous expenses
Grants payable (note 6c)
Direct charitable expenditure
**b**
**Costs incurred on support & administration**
Office rent and costs
Subscriptions and memberships
Professional fees
Insurance
Support costs
**Total charitable expenditure**|2024
£
149,348
43,871
8,655
6,788
5,756
2,108
216,527
32,420
248,946
8,848
1,469
1,638
2,097
14,052
262,999|2023
£
111,752
39,787
6,437
5,487
7,870
2,687|
|---|---|---|
|||174,019
26,260|
|||200,279|
|||7,377
1,410
2,350
1,430|
|||12,568|
|||212,846|
The fee payable to Accounting Hut, the independent examiner, for examining the accounts was £480 (2023: £480) with a further £618 (£nil) for payroll support.
## **c Grants payable**
|Grants for UK and overseas mission
Grants for the relief of poverty
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for the relief of poverty
The charity's principal grants to institutions comprised:
Commission Apostolic Trust
Ghana support
Madrid support
General support
St Paul PCC Salisbury
CAP support
Grants to institutions for less than £1,000 each|Institutions
£
22,649
3,011
25,660
Institutions
£
22,967
538
23,505|Individuals
£
-
6,759
6,759
Individuals
£
-
2,754
2,754
2024
£
16,349
300
6,000
2,500
511
25,660|2024
£
22,649
9,771|
|---|---|---|---|
||||32,420|
||||2023
£
22,967
3,292|
||||26,260|
||||2023
£
16,967
-
6,000
-
538|
||||23,505|
## **7 Details of staff costs, the cost of key management personnel and trustee remuneration**
The average monthly number of employees during the year was 5 (2023: 4). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the Trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:
During the year key management received employment benefits totalling £70,276 (2023: £48,735).
No Trustees received employment benefits in either the current or preceding year.
Page 12
## **GRACE CHURCH SALISBURY**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
## **8 Tangible fixed assets**
|Cost
At 1 September 2023
Additions
At 31 August 2024
Accumulated depreciation
At 1 September 2023
Charge for the year
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023
**Debtors**
**Falling due within one year:**
Tax recoverable
Other debtors
**Cash at Bank and in Hand**
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
Petty cash
**Creditors: liabilities falling due within one year**
Trade creditors
Taxation and social security
Accruals|Fixtures,
fittings and
equipment
£
12,296
1,904
14,200
6,374
1,560
7,934
6,266
5,922|Vehicles
£
-
-
-
-
-
-
-
2024
£
3,331
2,877
6,208
2024
£
204,898
184,621
289
389,809
2024
£
1,811
3,188
480
5,479|Total
2024
£
12,296
1,904|
|---|---|---|---|
||||14,200|
||||6,374
1,560|
||||7,934|
||||6,266|
||||5,922|
||||2023
£
2,778
-|
||||2,778|
||||2023
£
363,220
-
3|
||||363,223|
||||2023
£
3,941
1,500
480|
||||5,920|
## **9 Debtors**
## **10 Cash at Bank and in Hand**
## **11 Creditors: liabilities falling due within one year**
## **12 Pension commitments**
During the year employer’s pension contributions totalling £11,952 (2023: £10,919) were payable to defined contribution personal pension schemes.
Page 13
## **GRACE CHURCH SALISBURY**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
## **13 Funds**
During the year the movements in the charity's funds were as follows:
|_Designated Funds_
Building fund
Gift Day 2021 fund
Gift Day 2023 fund
Gift Day 2024 fund
Mercy fund
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
Parish Nursing Fund
Ghana support fund
Madrid support fund
Aggregate of funds|Opening
balance
2024
£
181,383
8,724
4,000
11,415
205,522
151,719
357,241
8,611
-
150
8,761
366,002|Incoming
resources
2024
£
1,294
-
-
33,661
825
35,780
233,070
268,851
13,950
10,849
150
24,949
293,800|Outgoing
resources
2024
£
-
(8,724)
(2,500)
(2,643)
(9,404)
(23,272)
(211,989)
(235,261)
(16,589)
(10,849)
(300)
(27,738)
(262,999)|Transfers
in the year
2024
£
16,154
-
-
(23,518)
7,365
-
-
-
-
-
-
-
-|Gains and
losses
2024
£
-
-
-
-|Closing
balance
2024
£
198,831
-
1,500
7,500
10,200|
|---|---|---|---|---|---|---|
|||||||218,031
172,800|
|||||||390,831|
|||||||5,972
-
-|
|||||||5,972|
|||||||396,803|
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year
In the previous year the movements in the
_Designated Funds_
Building fund
Gift Day 2020 fund
Gift Day 2021 fund
Gift Day 2023 fund
Mercy fund
_General Unrestricted Funds_
Total Unrestricted Funds|charity's funds
Opening
balance
2023
£
162,949
16,512
15,000
-
-
194,461
114,864
309,325|General
Designated
£
£
6,266
6,208
165,806
218,031
(5,479)
172,801
218,031
were as follows:
Incoming
Outgoing
Transfers
resources
resources
in the year
2023
2023
2023
£
£
£
18,434
(16,512)
(6,276)
4,000
11,415
-
-
11,062
245,660
(192,743)
(16,062)
245,660
(192,743)
(5,000)
Unrestricted Funds|Restricted
funds
£
5,972
5,972
Gains and
losses
2023
£
-
-|2024
£
6,266
6,208
389,809
(5,479)|
|---|---|---|---|---|
|||||396,804|
|||||Closing
balance
2023
£
181,383
-
8,724
4,000
11,415|
|||||205,522
151,719|
|||||357,241|
Page 14
## **GRACE CHURCH SALISBURY**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
## _Restricted Funds_
|Parish Nursing Fund
Ghana support fund
Madrid support fund
Other funds
Aggregate of funds|8,750
-
-
-
8,750
318,075|12,249
2,465
150
250
15,114
260,774|(17,388)
(2,465)
-
(250)
(20,103)
(212,846)|5,000
5,000
-|-
-|8,611
-
150
-|
|---|---|---|---|---|---|---|
|||||||8,761|
|||||||366,002|
## **Analysis of net assets by fund**
In the previous year, the assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year|General
Designated
funds
funds
£
£
5,922
2,778
148,940
205,522
(5,920)
151,720
205,522
Unrestricted Funds|Restricted
funds
£
8,761
8,761|2023
£
5,922
2,778
363,223
(5,920)|
|---|---|---|---|
||||366,003|
The principles funds held in the year were as follows:
The Building fund is an unrestricted fund set aside for expenditure on buildings intended to provide the physical resources acting as centres for the mission of the church both for its own internal work of meeting, teaching and discipleship but also to serve the local communities.
The special offering funds are unrestricted funds arising from amounts received in special offerings for the development of meetings and strategic goals. The 2024 fund is being held to support church work overseas and the 2023 fund is held to help develop projects designed by Christians Against Poverty.
The Mercy fund is an unrestricted fund set aside as a result of the 'cost of living crisis' to provide help for those in the church and local community who are in need financially where the church believes it is able to provide substantive help.
The Parish Nursing fund is a restricted fund to help support the work of the Parish Nurse employed by the church to provide practical medical, emotional and spiritual help to those in Salisbury in the communities most in need.
The Ghana fund is a restricted fund to help support the work of the church planting and development in Ghana.
## **14 Transactions with related parties**
Except as disclosed in note 7 'Details of staff costs', there have been no other transactions with related parties during the year or the previous year.
## **15 Members**
Each member of the company commits to contribute if the charity is wound up an amount of £10.
Page 15
## **GRACE CHURCH SALISBURY**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 31 AUGUST 2024**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations
3
Charitable activities
4
Investments
Other income
5
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
6
**Total Expenditure**
**Net gains/(losses) on investments**
**Net income/(expenditure)**
**Transfers between funds**
13
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
13||General
Designated
2024
2024
£
£
219,219
35,780
11,906
-
1,946
-
-
-
233,070
35,780
211,989
23,272
211,989
23,272
-
21,081
12,509
-
-
21,081
12,509
151,719
205,523
172,800
218,031
Unrestricted funds|Restricted
2024
£
24,949
-
-
-
24,949
27,738
27,738
(2,789)
-
(2,789)
8,761
5,972|Total
2024
£
279,948
11,906
1,946
-
293,800
262,999
262,999
-
30,801
-
30,801
366,002
396,803|||General
Designated
2023
2023
£
£
237,385
-
7,624
-
-
-
651
-
245,660
-
192,743
-
192,743
-
-
52,917
-
(16,062)
11,062
36,855
11,062
114,864
194,461
151,719
205,523
Unrestricted funds|Restricted
2023
£
15,114
-
-
-
15,114
20,103
20,103
(4,989)
5,000
11
8,750
8,761|Total
2023
£
252,499
7,624
-
651
260,773
212,846
212,846
-
47,927
-
47,927
318,075
366,002|
|---|---|---|---|---|---|---|---|---|---|
Page 16