GRACE CHURCH TRURO Report and Financial Statements Year ended 31 March 2021 Company Number: 07328613 111 *A80YFZRF• 3110312022 COMPANIES HOUSE
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GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2021 DIRECTORS, REPORT The director5 present Iheir report ond the unaudiled finonciol slolement5 for the yeor ended 31 Morch 2021. The financial slolemenls comply wth the Slolement of Recommended Practice.. Accounling ond Reporting by Charitie5 preparing their accoun15 in occordarbce with the Finonciol Reporting Stondord oprjicable in the UK ond Republic of Irebnd IFRS 1021 issued in Oclobei 2019 ond the Finoncial Reporling Stondord applicole in the United Kingdom and Republic of Irelond IFRS 1021 and with the Chorities Act 2011. OBJECTIVES, ACTIVITIE5 AND PUBLIC BENEFIT The main areas of chariloble activity of Groce Church Truro are lo advance the Christion loilh and the 0vIsion of ielief. educolion and assislonce for pSOn5 in conditions of need. hoTd5hip u di5tres5. In order to ochieve this. the objecls of the compony ore os lollow5'. lo advance the Christian faith by such means os the Compony shall determine from time to limc. to relieve persons who ale in condilion5 of need. hordship or distress os a result ol locol or intefnolionol di50ster, or by reason of Iheir social. medical or economic circvmstonces. lo advonce edvcolion in'fomily rife. in moryioge ond fonlily relotionships. in porliculor. bul nol exclusively. by the orgonisotion of courses for the leoching of 5ki#s ahd parenlhood. lo odvonce Chrislion Teligiovs education ond troining. The moin octivities undertoken in relation lo the Charity's purposes are. Pastoral care & gbfts to those In need-. By Ihis we simpty meon "looking ofler people" Whelher this is Ihrough orgonising ou( network of communily groups Imidweek smoller groups). equipping Ihrough leoching or dyecl intervention with individua15 Ihrough'eilher personal or linanciol resources our aim is lo build up and serve people to live life lo Ihe fullest. Sunday meelings & relaled acllv*y: Gothering'together is on expression of the friendship Ihol we hove os F)oil of the Chrislion foith_ll 15 0150 0 mean5 by which people who hove never experienced the Chrislion life can be inlroduced to il ond be helped lo toke nexl sleps lo follow Jesu5 should they so wish. Due lo the Covid-19 pandemic. physically meeting logether wos not possible for much of Ihi5 year. however remote allernolives were pul in ploce. Outreach & community projecls.. An imperolive of the Christion foith 15 to reach uul lo those who don'l know Jesus. We believe Ihol there is good news lo be shared. In thi5 areo we ore seeking not only lo orgonise ond equip bul in oddilion explore ways in which we can moke a moleriol difference lo the lives of the wider community oround us. We recognise this is o key oreo lor growth.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2021 Objectl¥es and Activities conl When planning oui activities the year. the Directors and Leadership of Ihe chorily have considered the Chaiily Commission's guidance on public benelil and, in porticulor, the specilic gvidance on chorities lor the odvoncemenl ol religion. The review of oclivilie5 in this report reflects how we have implemented this through o ronge of octivilies which we consider lo be in line with both thi5 guidance ond our objeclives. Grace Church Truro is o dynomic. growing church with a vision to bring help notjvst lo 115 member5 bul also the locol oreo. Cornwall ond the UK. The directors recognise. and ore sincerely grateful for. the volunteeT5 who contribute so much lo all Ihal hoppens in the life ol the chvich. Every week up to SO volunteer5 ore octive in the Church to build community. help those in need ond help orgonise golherings 10 come together and worship Jesus Christ. REVIEW OF THE YEAR'S ACllVITIES Si( Sloffing within the yeof ending 31,: Morch 2021 Temoined Telolivety sloble. compared with previous yeor5. Mott Leoch ond Andrew Sompson remoined on staff lor 5 doys per week- with Rochel Bennelts working I doy per week. Duiing the yeor. Rochel &ennetts went on moternity for 3 months. with Rebecco Thorns coming onlo 51011 lo cover for Ihal period. Church famlty Alongside introducing people to lh• Chrislion toilh, a principle oim of Groce Church is seeing people equipped "for works of-?rvice" In other words. lo ploy their port in society 05 a whole through Iheir paid Work, their leisure. their relotionships- in loct. Iheir whole lifel All ore welcome lo oltend our regulor Sundoy services, which were broodcosl on Zoom & Focebook live lor much ot the yeor. os reslriclions on meeting in person were in ploce. As well as Sunday meeling5. when possible, church member5 meet midweek in community groups where the doy-to-doy life ol the church 15 worked out. These gfOUPS ore 'open' com"munilies where onyone con bek)ng ond 0150 begin lo outwork Ihe vision and volue5 of Ihe church in every ospecl ol their lives. We ploce our piime emphasis on discipleship ond seek lo 'learn from the master,, Jesus. Of course. as wilh much else in daity life. these meelings were mode more difficull lo arrange wilh the reslriclions on Social golhering5 in place. Following on from la51 yeor. Grace Church continue5 to enjoy o close relolionship wilh our wider family of churche5. Arlvnnr.p. As pnrt of this, Androw, QMp30n continues lo hold o role on Ihe norional !egder5hip team lor Advance UK, 05 well as continuing to locus Advance churche5 ocr055 Devon & Cornwall. We see this as an exciting ovtworking ol our vision lo be o church Ihal functions as a sending and resourcing bose lor other churches in the region.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2021 Living wlth Vlslon Al variou5 points in the life ol the church. the Elders cast o v15ion to the Church. Describing o vision as '0 compelling picture of whol the future might be like, Groce Church hos embarked on proying for ond seeking God's Work in o number of areus. This continually needs pfayer. The Church conlinved lo prilI1$e gothering together to pray wilh orgonised meetings each month in the evening ond doylime. ond weekly occ05ions on o Sundoy moining. Twice o year. the chuich gothers for a week ol proyer ocr05S the city. Proyer meetings were wanged remotely when meeling in person w05 nol possible. Activities throughout Ihe year in line with this vision are set out below.. • lives changed by the gospel Eoch ol our Sundoy morning preoching series throughout the year aimed lo connect Ihe Christian lailh to everyday life as well os being on opportunity lor enquirers lo find out mole. In Spplember 2020 we took on two interns- Euan Chon & Freya Umalaliev- lor o yeor focused on investing in her spilU01 growth. The elders continued lo gather with OUT community group leoders remotely on o bi- termly basi5. for evening5 of ITaining ond envisioning. For much of the yeor. our normol childrens work wos not possible. os Teslriclion did not ollow for the golhering ol people. However. our childrens workeis proved Il*xible, ond lo the fullest exlenl possible. creoled online opporlvnilies for qalherings. • Connecting friends wilh Iht gospel We ore foci15ed on encouroging every member of the church to see themselves on the missionary frontline and shore the gospel with olhers os they hove opporlunily. Our Chrislmos corol service took ploce ogoin this yeor. olbeil tKe-recorded and broadcost on Focebook Live. Job Club: lurnlng around matewial prospects We continued 5UPPOrting the Job Club in porlner5hip with Chrislions Agoinst Poverty ICAPI working primorily Ibul not exclusively) with those who have been helped through Ihe CAP debt advice service. Falmovth ChuTch planl Since launching Ihe Falmoulh church plont in 27 May 2017. the Anchof ol Hope leom h05 continued lo puisue thp. vision to grow r] r.hi irrh thot consist5 of mulliplying house congregations which onty gKitner as a whole church on a monlhly bosi5. • Worklng wilh other churches We believe in the bibh.col prinCie of parlnership and are commilled lo parlnering with other like-minded churches where we con.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2021 We ore an active member of Churche5 Together in Truro. which is Ihe main church ecumerhicol bocly in the city ond port of Chvrches Together in Biilain and Ireland. Every Churches Togelher executive meeting hod al leosl one represenlalive fiom Groce Church oncl Andrew Sompson allended the monthly Truro ministers, proyer meetings hosted by the Melhodisl Church. Groce Chvrch is olso o parlner church ol Advance. an internalionol movement of chvrches Ihol exist5 to advance the gospel Ihrov9h plonling ond slrenglhening churches. Expresslng God's generosty Over the year the chorily hos made-several gifts lo olher charitable cou5es lo directly pursue ils objectives lo pursue the Christion foilh ond of the provision of relief, education and assislonce lor persons in condilions of need. hardship di51re5S. Flnan¢ial Review Incoming resouices fotol incoming resovrces l(y the yeor ending 31 March 2021 were £160.039. Thi5 included donolions ond gift old lolaling £157.925 Irom church members. the incipol source ol Ivnds for the chorily. Resourced expended Totol reUrCeS expended were £136.908. Funds und Balance Sheet Total unrestricled funds ore £93.5971ol which £43.435 is undesignoledl ond reslricled fund5 ore £41.171 ot the yeor end. Reserves polky The directors review the chority's reserves policy reguloty in the light of Chorily Commi55ion guidance. There ore three categories of [esee5 held. Generol funds ore vndesignoted. Designated funds arise from the setting oside ol some general giving again51 the identified needs in line wlh the Chorily's obJ'eclives= To fftoinloin o Ivnd with which lo be oble 10 055151 membets of the church in need To maintain on operalionol costs contingency To set 05ide 1070 ol unrestricted incomc eoch yeor lo dislribvle os gills lo vlher choritoble cou5es to directly Pursue 14e chority's objectives lo pursue the Chrislion loilh ond of the pfovision ol relief. educolion and 055islance lor persons in conditions of need. hardship or distress. Restricted funds arise where gilts are received for specitic puiposes. Expendilure is dislribuled in line with these reqviremenls.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2021 Investment policy In keeping wilh the re5erve5 policy. funds are moinlained to ineel loreseeable recurring expenditure. The Charity does not hold subslantiol inve5tment5. nor does il jvdge it oppropriole lo do so. In order lo ochieve slightly higher interesl rate5 than those 05socialed wilh Ihe chority's current occovnt, os well 05 dislribute the funds ocross different accounls. standard deposit occounls ond lixed-role deposit lor bonds) of six or 12 month periods may be used lo moximise inleresl whilsl keeping all funds in cash. The choice 015uch accoun15 15 aimed ol moximising interesl whilst moinlaining Ihe nece5SOry degree of occess. Consideralion 15 0150 given lo elhical and environmenlol issues in choosing investment inslilulion5. Internal control ond rlsk monagemenl The directors have overoll responsibility for Glace Church TrufO'S system of inlernol conlrnl_ Sur.h a 5y51em can provide only re050noble ond not ob501vle ossuronce ogoin51 errors or Irouds. There is o cleor delegolion of the directors, oulhorily through the Eldership lo the resl ol the church. Groce Church operates a planning ond budgeting system with on onnuol budgel approved by the boord of direct$. Significonl chonges ore subject lo specific approvol. A financial ieporting system compores results with Ihe budgel on o quorlerty bosis. The directors ore solisfied Ihol systems ore in ploce lo monitor. monoge ond mitigote Groce Church Truro's exposure to mojoi risks. A risk register hos been creoled lo help Irock ond monogc ine ryY)$1 signiliconl risks that could impocl the charity. Each risk is reviewed ol leosl once o yeor by a subcommillee ol the directors. The directors have pul in ploce controls to protect ogoinst the identified risks ond where the risk level is deemed lo be unacceploble. addilional controls ore being implemented. Risk monogement is o dynomic process ond the direcl(xs ensure thot new risks ore oddre55ed os they orise. The direclor5 recognise thol the notvre of some of Ihe chority's work requires octive acceplance and managemenl ol some risks when underloking aclivilies lo achieve the objeclives ol the charity.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2021 structure. Govemonce and Monogemenl Groce Church Truro was incorporoled on 28 July 2010 Os a compony limited by guoronlee and registered 0$ o charity on 29 September 2010. The company was estoblished under o Memorondum of A55ociolion which esloblished the objects and powers of the chorilable compony ond is governed by its Arlicle5 01 A550ciation. In the evenl of the comrKJny being wound up members are required to contribule on omounl not exceeding £1. The director5, who meet ot leost lovr times o yeor, ore responsible lor ultimole slrolegic decisions. recognising the oversight ol the Church rests with Ihe Elders. The directors ore regorded os the Iruslees of the chorily lof the PUTP05e of the Chorilies Act 1993. Directors ore oppoinled ol the Annuol General Meeling. The directors moy also appoint a direclor to serve unlil the next Annuol GeneToI Meeting, ol which lime he or she would cease to hold office but would be eligible lor election. Thp. dire.ctors monilor linonce. risk monogemenl. humon resource monogemenl. focililies monagemenl. health and solely ond safeguording. The Elder5hip ol the Church oversees the ochievemenl of the objeclive5 of the chaaty. doy-to-doy ope."olionol decision5 and the co-ordinolion ond direction of Groce Church Truro'5 work. Piogress is monitored regularly by the directors. The director5 ore members of the church ond lying experEnce ond expertise in business, occounling. ond leodership ond 0$ Irvstees in rxeviovs chvrches. Training is provided to boord members 0$ iequiied. Using inlormolion from Advice for Ik. Voli inlory Sector IAfVSI, we hove developed on indvction checklist Ihol to ensure thoi new directors ole given occe5s lo all necessary informolion lo fully undefsland the role ond respon5ibililies ol being o Trustee. The checklist also covers Ihe odmini5trolive records Ihat need to be updated when a new person is appointed.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2021 Reference and Administrative details Charty name Registered charty number Charity's piincipol addre55 and Reglsteied Off ice Groce Church Trvro 1138212 5 Grenville Rood Truro TRI 3TJ Tiustee & Dlrectors Matthew Leach Chris Ward Paul Williams Talon Archbdd Judy Pyke Robert Gillilond- Appointed 20 July 2021 Elder5 Andrew Sampson Matthew Leoch Beniomin Sewell Registered Company Nvmber 07328613 onkeT5 Notionol We5tmin5ter Bonk 2-4 Nicholos Street .1 2RN Stewardship Service5 IUKETI Lld l Lomb's Passage London ECIY8AB CAF Iscollish Widows Bonk plcl 67 Morrison Slreet Edinburgh EH3 8YJ Webslte www.gracelrvro.org
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2021 Slgned on belMJV al the chryvs thclo Full namex Paul Wlknms eoch Poslllon: CtrK]ir 29/311 21/s/zz
GRACE CHUftCH TRURO - 07328613 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 INCOME AND EXPENDITURE ACCOUNT Uniesfrfjcled Ivnds Resmcted income lund5 2021 Tolol 2020 Totol Nole Income and endowments frofft: Donolions Choriloble octtvtties Investments Governmenl gront5 Other 121.833 36.093 157.926 173.874 247 1.797 1.717 200 lolal 123.947 36.093 100,040 expendllure on.. Choritoble activities Total 113.593 113.593 23.315 23.315 136.908 136.908 144.973 144.973 Net Incomellexpendltu"re) 10..354 12.778 23.132 29,148 Transfers tseeen furyds Nel rriovemenl in Ivnd5 10.354 12.778 23.132 29.148 Reconciliolion of lunds: Totol lund5 brought lorNor¢Y Tolal lunds cathed lorward 83.245 93.S99 28.393 111.638 134.770 8?.489 111.638 The slotemenl ol linonciol oclitivities includes ol goins and kjsses recolSed in the yeor. All income ond expendilure derive5 Irom continLring aclwilies.
GRACE CHURCH TRURO - 07328613 BALANCE SHE AS AT 31 MARCH 2021 Total xed ossets Tongble assets 817 817 Cwent ossets Debto Cash ot Ixmk and in hand 34J 105.1 12.799 103.119 10 36.336 98A)7 41.171 139. 115.918 Creditots: amcMJnts taln9 within one yeor 16Th51 (6.0951 15.0961 Net cwent ossets 1712 41.171 133J83 110.821 T¢)tal net4Jssets 3.597 41.171 134,718 Fun(ts of the Chaiity Restricted income funds Unrestricted lunds 13 41.171 28,393 83,245 13 93.597 93.597 41.171 134.718 111.638 FLYlhe yetrendiry 31 K4Jch 2r21 the ccrfnpony V•VS enfr1 to exenwl¥ffi frLYn 0*t vndersediDn 4n ol Ihe Companies kt X>)6 reloting to smol c(Mporwes. The membas hove nol reqLired Ihe company to rtitan ( ou(fit of its occcxmts year in qveslion in accdance wilh section 476. The directCrf5 ackno¥edge thwr resrx)nsiblities fcw cOrr7r 4Mlh the requwement5 of the kt respect lo occounting reuyds ond Ihe Pfewotion of occounts. These occounts (Ye prepared in (Icc<xdonce wlh trt spec#$ provwrts of P(xl 15 of the Componie5 ktTekstirKJ lo small compories ond constitute Ihe ornual occounts rerywed by Ihe Comparies XM)6 and fft for cyaatrOn to meml)as of cornpony. The note5 Qt p¢Jge5 13 to VO fonn pcfft of lh acc(Nmts £9/031zo21 hAr M Leach
GRACE CHURCH TRURO- 07328613 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 Totol 2020 lolal Note Ca5h"IIows liorn operatlng aclivllies- Nel crjsh provided by Ivsed inl operoting octivities 2.310 34.560 Cosh flow5 Irom investing aclrvilies-. Interest received on c05h deposiTr5 Purch05e ol equipment Net cosh provided by lused inl investing activitie5 247 {409) {292) 247 Change in cosh ond cosh eq"uivolents in the repcmling F)eiiod 2.019 24,8D8 Cosh ond cosh equivolenls ol the beginning ol Ihe ieporting perrod 103.119 78.311 Cash and cosh equlvalenls al the end ol the reporting perfod 105.138 103.119
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Nole I Basis ol preparalion l.l Basis of accounting These accounts hove been prepared under the historical cost convenlion wilh items recognised ol cost or transaction volue unless olherwise slated in the relevonf noles lo these accounls. The accounts hove been prepored in occordonce with the Sloteme'nt of Recommended Proctice". Accounling and Reporting by Chorities preparing their accounts in occordonce with the Finonciol Reporting Stondord applicable in Ihe UK and Republic of Irelond IFRS 1021 issued in October 2019 and the Financial Reporting Stondord opplicoble in the United Kingdom ond Republic of Irelond IFRS 1021 and with the Charities Act 2011 . The charity constitutes a public benefit *3-,tity a< defined by FRS 102. 1.2 Going concern Despite the or)going uncertointies in relolion to the Covid-19 pandemic, the direclors consider Ihal there is no significant doubl on Ihe chorily's ability to continue os a going concern. whether in relotion to the ongoing pondemic. or other potentiol events or condilions. 1.3 Change of accovnling policy The occounts present o true ond foir view ond the occounling policies adopted are'.those outlined in nole 2. 1.4 Changes to accounting estimates No changes to accounting e51irhales hove occurred in the reporting pefiod13.46 FRS 102 SORPI. 1.5 Materlal prlor year e01$ No malericl prior year error hove been identified in the reporting period13.47 FRS 102 SORPI.
GRACE CHURCH TRURO- 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Note 2 Accovnling policies 2.1 INCOME Rèeognwlon of me5e ore inclvded in the Stotement ol Fmoncid Aclivilies ISOFAI when.. Income the chorily becomes entild to Ihe resources.. it is mce likely lkn nol thot the Irustees wdl receive the resowce5.' ond Ihe monelory v¢2kJe con be meosured with sulficient reliobility. e¥e hos been no ollselting ol ossels ond liobifities. or income ond expense5. unless requred ty F)emNtle¢J by the FRS 102 SORP or FRS 102. otlsèMn9 Gionts and donot]on5 Gronts ond donolions ore On inclvded in Ihe SOFA when the generol income recognilion crilerio ore mel15.10 10 5.12 FRS 102 SORPI_ Tolr reclalms on Gitt Aid receivatsle is incktded in income when there i% a volid donallons and declarotion from the donor. Any Gifl Aid omounl recovered on o gllts donolion is considered to . porl ol thot gift and is Irealed os on oddition to the some fund os th£ 11101 donotion unless the donor or fhe terms of the oppeol hove specifEd otherw5e. 5vpport C051$ chority hos in¢ved expen(twe on support Costs. Volunteer help Given the absence of o reltoble measurement basis. Ihe valve of any voluntory help rècetved is not included in the occounts. The noture ond scole ol th8 role played by general vdunl8et5 15 described in the twslee5' annual rewt. Incomè fvom Inleresl TFN5 15 included in the occovnt3 when receipt 15 probable and the cjrnount receivable can be measufed reobty. 2.2 EXPENDITURE AND UABILlllES Llabllity reco9nlllon Liobilities ore recognise(I where It is more ke thon nol thot there is o legol or con51wcttve obligotion committing the chtyily to poy out resoLKce5 ond the amour,1 ol the gbts"gotlgn con be meoswed with reosonoble cerlointy. Governance ond support Costs Support costs hove betn olocoted bètweèn governonce costs ond other support. Govefr)ance c05t5 compase c0515 invotving public occovntobilily ol Ihe chority ond its cornpfiance with regvbtion and good p¥octice. Support costs inclvcle centr(4 fLmCtions ond hove been allocated to octivily cost cotegories on o bosis consistent wilh the use ol resources. eg stolf costs by the lime spenl ond other costs by their v50ge.
GRACE CHURCH TRURO- 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Not• 2 Accountlng poueies The ¢hority operotes o defined conltibulion pension scheme. Conlnbutions poyoble lo Ihe pension scheme ore chcrged lo the Income and Expenditure occou.ryl in the period lo which they relote. Pènsion cost Redundancy cosl The charity mode no recAJndoncy poymenls thjring the reporting Perd. Delewied Income No moleriol item ol deleffed income has been included in thE occovnts. Credor$ the chority hos credtors which ore meosured ol setllement omounts less ony trode olscounts. Provlslons lor A liobility is measLKèd on rècogrNtion ot its hislollcol cost ond then subsequently Meased ot the besl estimole ol Ihe omounl reouired to settle the obli90lion al the reportin9 dote. Boslc fflnonclol The chc¥ity occovn15 bus finon¢ial in5trumpn15 on iniliol recognition in5fruments os per porogroph 10.7 FRS 102 SORP. Subsequent meosvrement 1$ 05 per p(Yogroph5 11.17 10 11.19. FRS 102 SORP. 2.3 A5SET5 langible fixed These ore copttolised if they con De used for more th one yeor. ond o$sèts for use by cos1 ol leost £3CA)_ charlty They ore volued ot cosl. The deweciatrn rates and methods V5ed ijre disc105ed in note 9. Deblois linckJd'ng Irode deblors ond kjons receivoblel ore meosured on Initial recognition ot seltlement omovnt ofter ony trode discounts or omovnt advanced by Ihe chly. Svbseqventty. they ore meosured at thè cosh of oth ConseOI10n expected to be received. Deblors Cwwenl as5el Investments The chorily hos investments which it hokys fc* fesole or pending their sale ond cosh ond cosh ewAvolents wth o molurity dote less thon one yeor. Thèsè include cosh on dep051t and cash equivolent5 Wlth o moturity date ol less thon one yeor held tor investment purposes rother Ihon lo meet ShCl term cosh commitments os they foll dve. They ore valued al fcwr volue except where they qva&'fy 05 bosic finoncial instruments. Flnonclal in51rvmenls The chorily On hos finonciol assets ond h"noncid liobililies ol o kind thot qLolify os basic h"nonciol instruments. Bossc finonciol in5tnxnents olè inlilidly recognised ot trOnet10n vdue ond sub5equentW meosured ol their settlp.menl value wlh thA pxrp.ptv)n of bonk. klon: which ole svbsequently meosured ot CNnlIsed cost using the effective interest method.
GRACE CHURCH TRURO- 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Nole 3 Analy¥ls of incorn"e Analysis Unrestricted funds Restricted income funds 2021 Total 2020 Tolol Donalions and Donations ond legacies: gifts Gift Aid 102.691 19.142 121.833 33.190 135.881 2,903 22.045 36.093 157,926 145.669 28.205 173,874 Total Income from investments: Interest income 117 117 117 247 247 Tolol 117 Other: Goin on disposal of o tangible fixed ossel held for charity's own use 2(K) Government Granl 1.797 .997 1.797 1.997 Totol TOTAL INCOME 123,947 36,093 160.040 174.121 other Informatlon: All income In the prlor year wos unrestricted except for: £39.403 Donations ond £5,308 Gift Aid
GRACE CHURCH TRURO- 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Not• 4 Andysls ol expendttvre Activity ot tyogromrne Unrestricted lun(ts Reslricted come funds 2021 Tolal 2020 Tolol Expendltrure on Postorol Care & gitls to those in need ¢horiluble acllvlllÈs Sundoy Meetings & reloled octivity Outreoch & comrnvnity pr(4ec15 51.815 8.760 60.575 54.475 23.095 3.286 26.381 34.141 38.683 11.269 49,952 56.357 TOTAL EXPENDITURE 113.S93 23.315 136,908 144.973 Angly5is of expendtture on chgwiloble uctwilies Aclivity or progromnle ActwrtEs underfoken directly Support Costs 2021 Tolol 2020 Total Paslorol Core & gift5 to Ihose in need 5undoy Meeting5 & reloted oclivity outre0c, & community projects 55,666 60,575 54.475 23.573 26,381 34.141 17.064 32.888 49.952 56,357 Tolal 24.780 112.127 136,908 144.973 Prioi year expèndilurè on choritable activities con be anotysed 05 follow5.' Actwity or progr(wnme ACtNitie5 lertoken directly Svpp¢yt Costs 2020 Tolol Pttslofal Core & gifts lo those in need Sunday Meeting5 & reloted activity Ovtreoch & community projects 5.331 49.144 54.475 13.643 20.498 34,141 27.809 28.548 56.357 46.783 98.190 144.973
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Note 5 Support Costs Support cost 2021 Basis of Total allocation Pastoral Sunday Outreach Governance 326 326 326 979 Equolly 104.307 staff Hours Slalf Costs 51.920 21.650 30,738 Office Expenses Total 3.420 1.596 1.824 6.841 stoff Hours 55.666 23.573 32.888 112.127 Support costs are allocotpd primorily on the bosis of stoff time. 05 Ihis is the best indicolion of where resources ore expended. Slaff costs ore apporlioned direclly.. each employee's costs occording lo the slotf hours spenl on eoch octivity ocross an ~-tionpd generally.. occording to tolol averoge week. Office Expenses ore opr- number of staff hours spenl on each octivily. 0VernOnCe costs are allocated equally ocross the three aclivties. Note 6 Detai15 of certoin items of expendllure Fees for examlnatlon of the accounts 2021 2020 Independenl examinew's fees Ttsx advisory lees Olher fees paid to Ihe independent examiner 300 600
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Note 6 Pold employees 6.1 Slaff Cost5 2021 2020 Saloiies and woges Social security cos15 Pension costs (defined contribvlion 5¢hemel Other employee benefits 93.431 80,093 4,449 3.919 6.440 5.586 405 1.324 Tolal staff costs 104.726 90.922 Fxpenditure on stoff working for the chority whose controcts are with and ore paid by a related party.. £nil12020= £nill No employees received employee benefils lexclvding employer pension costs) for the reporting period of more thon £60.C. Total amount paid to key managemenl personnel linclvdes Irustees and senior monogementl for their services to the chority: £76,54412020'. £65,276) 2021 2020 Numbei Number 6.2 Average hectd count in the yeaw Fvndraising Charitable Actlvities Governance other Total
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Note 7 Defined contribulion penslon scheme Amount of contributions recognised in the SOFA os on expense: £6,44012020.' £5,5861. Grace Church Truro confributes 7% of employee's salaries to the scheme. £5.667 of pension expenses are ollocoled to vnreslricled fvnds. os Ihe majority of stoff resources were expended on unrestricted fund oclivities during Ihe year. £/73 was allocated to the Falmouth Church Plant reslricled fund to represent Ihe staff lime spent on this project.
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Nole 8 Tonglble fixed assels 8.1 Cost or volvallon Fixtures & Flttlngs Computer Equipment Totol At l April 2020 Additions 4.435 1.925 6.360 408 408 Disposols At 31 March 2021 I4) 1.933 (400) 6.368 4.435 8.2 Depreclation and Impalrments Slraight Line I"SL"l or Reducing Balance I'RB'I Rale RB SL Totol 25% 3 years At l April 2020 Disposols Depfecialion At 31 March 2021 3.618 1,925 5.542 14(Kll 136 (400) 340 204 3.822 1.661 5.482 8.3 Net book valve At 31 March 2021 613 272 885 At 31 March 2020 817 817
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Note 9 Deblors and prepoymenls 2021 2020 PYepaymeNts and accrued income 34,842 12.799 34.842 12.799 Nole 10 Cash at bank ond in hand 2021 2020 Sh(xt term deposits Cash at bank and on hund 20.348 20.311 84.790 82.808 105.138 103,119 C05h al bonk ond in hond is held lo meet short-term cosh commitmenls as Ihey fall due. rather than for inveslmenl purposes. All short term deposils ot the yeor end were held in the form of c¢Jsh deposils.
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Notell Creditors and accruols Amounts falling due withln one year 2021 2020 Trade creditors 405 Accruals and deferred income Pension 61x1 1,200 551 1.719 2.354 PAYE 2.245 Wages Credil cord 1.017 1,093 6,095 5,096 Note 12 Falr valve of assets and Ilabilllies The Directors do not deem Ihe Charity to be exposed to any material credit risk Ithe risk of incurring a loss due to a debtor not paying whot is owed) liquidity risk Ithe risk of not being able to meet short term finoncial demandsl or morkel risk Ilhe risk thol the volue of an investment will lall due lo changes in Ihe marketl arising from finonciol instruments to which the chority is exposed at the end of Ihe reporling period. Th'ere i) no change in Ihe foir value of basic finoncial inslrumenls Ideblors. credilors, investmen15 (see section I l. Fkb 102:sORPII meosured at foir value Ihrough the SOFA that is otlributoble lo chonges in credit risk.
GIACtCHUlCrtTRURO. 01S21613 NOTES FORMING PARI OF THE FINAEL StATE£r*I5 FOR fHE YEAk ENDEDII hL4RCH X)21 •iJ tisjia IA5 wi4 T4
GRACE CHURCH TRURO- 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Nole 14 Charity funds (cont) 14.1 Translers between lunds Rettson lor tronsfer Amount Between unreslricled To meet ony sh(xlloll between donolions ond reslricled funds received lor o specific pvrpose. and resources ocluolly expended on thol purpose. 2021= £0 2020. £0 14.2 Designoted lunds Planned use Puwpose ol Ihe designollon Amount Individuols in Need Funds sel Oside eoch:,eor trom Generol -ds wilhin the Funds ogainst posl(xal ne- Church lo be odmini5tered os the leoders, discielion. Any money undislribvled ol yeor end held in Designaled Fund lor lulure needs. 2021: £11.979 2020: £11.979 Operolionol Costs Three monlh operolionol conlingenl fund in the evenl ot unexpected loss in income 2021- £18.000 2020.. £18.¢M) Church Planting To help future Chuich Planting endeavour5 2021: £0 2020.. £0 Falmoulh Church Plonl This fund sets oside a PfOPOrtion of general donations lo help fund the Falmouth Church Plonl 2021: £75.775 2020.. £15,775 Giving Thi5 fund sets oside l 0% ol vnrestricled income eoch yeor which is distributed 0$ gills lo othei choritoble covses lo (Jirectly yuisug Ilie charlty's ODjètlives lo pursue the Chrislion loilh ond of the piovision ol relief. education and assistance lor persons in conditions ol need. hardship or distress. 2021: £4,409 2020.. £5,980
GRACE CHURCH TRURO- 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Nole 15 Tronsactions with trvstees and related pillties 15.1 Trustee remunerotion and benefits In the period the charity hos poid tIUslees rernunerolion ond benefits. Amounts paid or benefit valu'e 2021 2020 Remuneration Pension conlrlbvllon TOTAL TOTAL Nome of trustee Mallhe.w Leoch Legal aulhoiity Articles of A55QCiQtion 37.238 2.607 39.845 29.013 Payment w05 mode entirely for service5 givfri i und-: the term5 01 hi5 employment conliacl as ElderlLeoder ol the Church. and not for his role os Trustee. All tfUSlees ore volunteers who give their lime ond expertise wilhoul chorge. 15.2 Tivstees, expenses In the period no Iruslee expenses hove been incurred. 2021 2020 Type ol expenses reimbursed Sub'slstence 332 Offke Expendllure Tiaining 276 TOTAL 608 Number of trustees reimbursed for expenses or who had expense5 paid by the chority.. O 12020.. 41 15.3 Ironsaclions with reloted parties The tolal amount ot donations received in the period without conditions from oll Twslees was £13.50012020.. £15.5101. There were no oulstonding bolances Wlth related porties os ol 31 March 2021 12020.. £nill.
GRACE CHURCH TRURO- 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Note 16 Reconcilialion of net income/{expendilure) lo net cash flow from operating activilies 2021 2020 Net lexpenditurel for Ihe reporling period Adju5tmenls for.. Deprecialion charges Interesl received on cash deposits Iln¢reasel / decreose in deblors Increase I Idecreasel in credilors 23.132 29.149 340 431 (117) (22,043) 12471 18.3401 3.567 998 Net cash provided by (used in) operaling oclivilies 2.310 24,560 Nole17 Charitable Company Stalvs The chaiity does nol have a shore copital as the liobilities of its members are limiled to Ihe gurantee up to a m0muM of £1 each.
CHARITY COMMISSION FOR ENGLAND ANO WALES Independent examiner's report on the accounts Section A Independent Examinees Report Report to the trusteesl members of cRpLc C0£cH f£uRO On accounts for the year ended S Zoll Charity no lif any) 07S2g613 Set out on pa9es -2 I report to the truslei:" on my examination of Ihe accounts of the above charity {'the Trust") for the year ended Responsibilities and basis of report As the charrty's trustees. you are responsible for the preparation of the accounls in accordance with the requirements of the Charities Act 2011 ('Ihe Acl-). I report in respect of my examination of the Trust's accounts carried out under seclion 145 of the 2011 Act and in carrying out my examination. I have followed all the applicable Direclions given by the Charity Commission under seclicn 14Jf{5)Ibl of the Act Independent examiner's statement mem app3. Delete I l if.?ot applicable. I have completed pxamination. I confim) that no mate.rial matters have come to my attention in connection with the examination (other than that disclosed below ") which gives me cause to believe that in. any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts did not accord with the accounting records,. or the accounts did not comply with the applicable requirements conceming the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thal the accounts give a 'true and fair. view which is not a maller considered as part of an independent examination. 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 lo enable a proper understanding of the accounts to be reached. Please delete he words in the bracket.s if Ihp.y nfn nnl Apnly. Signed: Date: 30.3.2022 Name: Relevant professional qualificationls) or body FCCA IER Oct 2018
(if any): Address: 8 2 IRÉvert67w 12eAD FALMWi T¢ li 58S Sectton B Disclosure Only complete if the examiner needs lo highlight material matters of concern (see CC32. Independent examination of charity accounts." directions and guidance for examiners). Giv'e here brief details of any iterns that the examiner wishes to disclose. IER Oct 2018