GRACE CHURCH TRURO Report and Financial Statements Year ended 31 March 2021 Company Number: 07328613 111 *A80YFZRF• 3110312022 COMPANIES HOUSE #138 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 applicol￿e 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 p￿SOn5 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 pri￿lI1$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 sp￿ilU01 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 prinCi￿e 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 re￿UrCeS 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 [ese￿e5 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 tse￿een 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 reco￿lSed 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 tal￿n9 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 acc￿dance wilh section 476. The directCrf5 ackno¥￿edge thwr resrx)nsiblities fcw cOrr￿￿7r￿ 4Mlh the requwement5 of the kt respect lo occounting reuyds ond Ihe Pfewotion of occounts. These occounts (Ye prepared in (Icc