GRACE CHURCH TRURO Report and Financial Statements Year ended 31 March 2023 Company Number: 07328613
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2023 DIRECTORS. REPORT The directors presenl their rep(Kl and the unaudited financial 5tatemenls for Ihe year ended 31 March 2023. The tinancial 51atemen15 Comp wilh Ihe Statement of Recommended Practice.. Accounting and Reporling by Chorities preparing lhe accounls in occordance with Ihe Financial Reporling Standord applicate in the UK and Republic of Ireland IFRS 1021 issued in Oclober 2019 and Ihe Financ1 Reporling Slandard applicoble in the United Kingdom and Republic of Irekjnd IFRS 1021 and wilh the Charities Acl 2011. OBJECllVES, ACVlEs AND PUBUC BENEFIT The moin oreos ol choritoble oclivily ol Groce Church Truro are to advance the Christian foith ond the provsion ol relief. educolion ond ossislonce for persons in conditions of need, hordship or distress. In order to ochieve this. the objects ol the compony ore as follows.. lo odvonce the Chrislion foilh by such meons os the Compony shall determine from lime lo lime. lo relieve person5 who are in conditions ol need. hardship or distres5 a5 a result of local or inlernationol disoslei. or by ieoson ol Ihew social, medicol or economic circumslonces. lo advance educalion in family life. in morrioge ond lomily relationships, in porliculor, bul not exclvsively. by the orgonisotion of courses for the teaching ol skills and porenlhood. lo odvance Christian Teligious educolion and training. The moin aclivilies undertoken in relotion to the Charity's purposes are: Pastoral cawe & gllls lo Ihose In need: By Ihis we Simp mean looking aller people". Whelher Ihis is through orgonising our network ol community groups Imidweek smoller groupsl, equipping through teaching or direcl intervention with individuals through eilher personal or linancial resources our aim is lo build up and serve people to live life lo Ihe lullesl. Sunday meellngs & related actfvlty= Gathering logether is an expression of the friendship that we have as part ol Ihe Christn failh. It is also a mean5 by which people who have never experienced the Christian life con be introduced to it and be helped lo lake next steps lo follow Jesus should they so wish. Due to the Covid-19 pandemic, physically meeling logelher was not possible for much of this yeor, however remote ollernatives were pul in ploce. Oulreach & communty projects.. An imperoltve of the Christian failh is lo reach out lo those who don't know Jesus. We believe Ihot there is good news lo be shored. In this orea we ore seeking not On lo orgonise ond equip bul in oddition explore woys in which we con moke o moleriol difference to the lives of the wider community around u5. We recogni5e this a key area for growth.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2023 Objectives and Aclivilies cont When plonning our activities lor the yeor. Ihe Directors ond Leadership ol the chorily have considered the Charity Commission's guidance on public benefit ond, in porlicular, the specific guidonce on chorilies for the odvoncement of religion. The review ol octivilies in this report reflects how we hove implemented this through a ronge of oclivilies which we consider lo be in line wilh both this guidonce and our objeclives. Groce Church Truro is o dynomic, growing church with o vision lo bring help not jusl to ils members bul olso the locol oreo, Cornwoll ond the UK. The directors recognise. and are sincerely grotelul for. the volunteers who contribute so much lo oll Ihol happens in the life of the church. Every week up lo 50 volunleers ore oclive in Ihe Church to build community, help Ihose in need ond help orgonise galherings to come logether and worship Jesus Chrisl. REVIEW OF THE YEAR'S AcllviTIES stall Slolfing within the year ending 31st March 202 remained stable. Mall Leach and Andrew Sampson remoined on slalf lor 5 days per week,. with Rochel Bennells working 1.5 days per week. Church lamlly Alongside introducing people lo the Chrislion loilh, o principle oim ol Groce Church is seeing people equipped "for works ol seNice" In other words. lo ploy their part in society as a whole through Iheir paid work, Iheir leisure. their relolionships - in lacl. Iheir whole lifel All are welcome to ollend our regular Sunday services. wilh Ihose also being broadcasl on Zoom for those unoble to atlend in person. As well as Sunday meetings, church members meel midweek in communily groups where the day-tO- day life of the church is worked out. These groups are 'open' communities where anyone can belong ond also begin lo outwork Ihe vision ond values ot the church in every aspect of their lives. We place our prime emphasis on discipleship and seek to 'learn from the master,, Je5US. Grace Church continues to enjoy a close relationship with our wider family ol churche5, Advance. A5 part of this. Andrew Sampson conlinue5 to hold a role on Ihe national leadership team for Advance UK. a5 well as continuing to focus Advance churche5 across Devon & Cornwall. We See this as an exciting outworking of our Vision to be a church that funclions a5 a sending and resourcing base foi other churche5 in the region.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2023 Llvlng wlth Vlslon At various poinls in the life of Ihe church, Ihe Elders casl a vision to the Church. Describing o vision os '0 compelling picture of whot the future mighl be like,, Groce Church has embarked on praying for and seeking God's work in o number of areas. This Continual needs prayer. The Church conlinued lo prioritise gathering together lo pray with organised meelings each monlh in the evening and daytime. and weekty occasions on a Sunday moming. Twice a year. the church gathers for a week of proyer ocross the city. Aclivilies throughout the year in line wilh Ihis vision are sel oul below: Llves changed by the gospel Each ol our Sundoy morning preoching series throughout the yeor oimed lo connect the Christian lailh lo everyday lile as well as being an opportunity lor enquirers to lind oul more. The elders continued lo golherwith our community group leaders remolely on a b termly bosis, for evenings ol Iroining ond envisioning. Our childrens work continues olongside our moin meetings. ond our childrens workers continue to coler lo the needs ol the children omongsl us. whether in person or online. Connectlng our frlends wllh the gospel We ore focused on encouraging every member of the church to see themselves on Ihe missionory frontline ond shore the gospel with others as they hove opportunity. Our Chrislmos carol service was celebroted. with mony members of the communily not normally associated wilh Ihe church being oble lo join with us lo celebrate the fe51ive season. Job Clvb: tumlng around materfal prospects We continued supporting the Job Club in portnership with Christians Agoinsl Poverty ICAPI working primorily Ibul not exclusively) with Ihose who have been helped Ihrough the CAP debt advice service. Worklng wllh other churches We believe in the biblical principle of portnership and ore commilled lo partnering with other like-minded churches where we con. We ore on octive member of Churches Together in Truro. which is the main church ecumenical body in the city and port of Churches Together in Briloin and Ireland. Every Churches Together executive meeting hod ol leost one represenlotive trom Groce Church and Andrew Sompson ottended the monthly Truio ministers, proyer meetings hosted by the Methodist Church. Grace Church is a150 a partner church of Advonce. an inlernational movemenl of churche5 that exists to advance the gospel Ihrough planting and strengthening churches.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2023 Expresslng God's generoslty Over the year the chority hos mode severol gifts to other choriloble couses to directly pursue its objectives to pursue the Christion foilh ond of the provison of relief, educalion and a55iStance for persons in condilK)n5 of need. hardship or distress. Flnanclal Revlew Incomlng resources Tolol incoming resources for the year ending 31 Morch 2023 were £197,350. This included donolions ond gift old lololing £197.233 from church members, the principal source of funds for Ihe charity. Resoufced expended Tolol resources expended were £202.599. Funds and Balance Sheet Total unre51ricled funds ore £94.024 lof which £43.929 is vndesignatedl ond reslricted funds ore £36,746 01 the year end. Reserrfo$ pollcy The directors review the chority's reserve5 policy regulady in the lighl of Charity Commission guidance. There are three categories ol reserves held. Generol funds ore undesignoled. Designaled funds orise from the setting oside of some general giving agoinst Ihe identified needs in line with Ihe Charity's objectives.. To maintain a fund with which lo be able lo ossist members of Ihe church in need To mainloin an operolional cosls contingency To sel oside l OTO ol unreslricled income each yeor lo distribute as gifts lo other charilable causes lo directfy pursue the charity'5 objectives to pursue Ihe Christian loilh and of Ihe provision ol relief. education and assislance lor persons in conditions of need. hardship or dislress. Restricted funds arise where gifts are received for specific purposes. Expendilure is distributed in line wilh Ihese requirements.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2023 Investment polky In keeping with the reserves policy. funds ore mainloined lo meet foreseeoble recurring expenditure. The Chorily does not hold subslonliol investments, nor does it judge it appropriale to do so. In order to achieve 51ighlW higher inlerest rates Ihan Ihose associated with the charily's current accounl, a5 well a5 dislribute Ihe funds across different occounls, slandard deposil occounls and fixed-rote deposil lor bonds) of six or 12 month periods may be used to maximise inleresl whilsl keeping all funds in cash. The choice of such accounls 15 aimed at maximising interesl whilsl maintaining the necessary degree ol access. Consideration is also given to ethical and envronmental issues in choosing inveslment inslilulions. Internal control and r15k management The direclors have overoll responsibility for Grace Church Truro's system ol internal control. Such a system can provide only reosonable and not obsolule ossurance agoinsl errors or frouds. There 15 0 clear delegation of the directors, authority through the Eldership to the rest of the church. Groce Church operoles o plonning and budgeting system with on onnual budget approved by the boord of directo. Significonl chonges ore subject lo specific approval. A financial reporling syslem compares resulls with the budget on a quarterty basis. The direclors are 50t15fied Ihal systems are in place lo monitor. manage ond miligale Grace Church Truro's exposure lo major risks. A risk register has been created lo help track and manage the most significanl risks Ihal could impact the charity. Each risk 15 reviewed al least once a yeor by a subcommittee of the directors. The direclors have pul in place controls lo prolecl againsl Ihe identified risks ond where the risk level is deemed lo be unocceploble, oddilionol controls are being implemented. Risk management is a dynomic process ond the directors ensure thol new risks ore oddressed 05 they orise. The directors recognise that the notvre of some of the charity's work requires octive acceptance and managemenl of some risks when undertaking aclivilies to achieve Ihe objectives ol the charity.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2023 structure. Govemance and Management Groce Church Truro wos incorporoled on 28 July 2010 05 o compony limited by guaranlee ond registered os a charity on 29 September 2010. The company was established under a Memorandum of Associalion which established Ihe objecls and powers of Ihe charilable company and 15 governed by it5 Articles of A5socialion. In Ihe evenl of the company being wound up member5 are required to contribule an amount not exceeding £1. The directors, who meet al leasl four times a year. ore responsible lor ultimate slrolegic decisions, recognising the oversight ol the Church rests with the Elders. The directors ore regorded as Ihe trustees of the chority lor the purpose of the Charities Act 1993. Directors are appointed ot the Annual Generol Meeting. The directors may also appoint a direclor lo serve until the next Annuol Generol Meeting. ot which time he or She would cease to hold office but would be eligible for election. The direclors monitor finonce. risk management. human resource monogement, facilities monogemenl, heollh ond solely ond sofeguarding. The Eldership ol Ihe Church oversees the achievement of the objectives of the chorily. day-to-doy operolionol decisions ond the co-ordinotion ond direction of Groce Church Truro's work. Progress is monitored regulorly by the direclors. The directors are members ol the church and bring experience and expertise in business, accounting. and leoder5hip and as Iru51ees in previous churches. Training is provided lo board members as required. Using informalion from Advice for the Voluntory Sector IAIVSI, we have developed on induction checklist Ihol lo ensure thol new directors ore given access lo oll necessary informotion to lully underslond the role ond responsibilities of being a Trustee. The checklist olso covers the odministrotive records Ihol need to be updated when a new person is appoinled.
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2023 Reference and Admlnlstratlve detalls Charity name Regislered charity number Charlty's prlnclpal address and Reglstered Office Grace Church Truro 1138212 5 Grenville Road Truro TRI 3TJ Trustee & Dlrectors Mallhew Leoch Chri5 Ward (Resigned- 12109120231 Poul Williams Talon Archbold Judy Pyke Robert Gilliland Benjamin Mumford (Resigned- 16105120231 Kathryn Nichols Kerry Doyle (Appointed - 05112120231 Elde Andrew Sompson Mollhew Leoch Benjamin Sewell John Pelers Reglslered Company Number 07328613 Bankers Nalional Weslminsler Bank 2-4 Nicholas Slreel Truro TR12RN Slewardship Services IUKETI Ltd l Lamb's Passage London ECIY8AB CAF IScolli5h Widows Bank plcl 67 Moffison Slreel Edinburgh EH3 8YJ Webslle www.gracelruro.org
GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2023 Th• dlr•cloii d•¢lor• Ihal Ih•y hov• appiov•d lh• r•port ab•v•. 51gn•d on behall of th• ¢horfly'$ dir•clors: Full names: Tolan Aichbold oc Posilion.. Treasurer Trustee Date:
GRACE CHURCH TRURO- 07328613 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 INCOME AND EXPENDITURE ACCOUNT Unreslricted fund5 Restricted Income Ivnd5 2023 Total 2022 Total Note In¢ome ond end¢wmerth from: Donolions Churitoble activitie5 Investments Government grants Other Total 153,819 43,414 197,233 153,292 68 153.936 43.414 197,3SO 153.360 Exp•ndllvre on.. Choritable activities Tolal 153.91 S 153.915 48.684 48.684 202,599 202,S99 Nel InCome/lexpendUie) 21 15,2701 (5,2411 1,249 Tron$lers tween Ivnds Nel movement Sn lunds 21 15,2701 (5,2491 1,249 Reconcllloll¢n ol lunds.. Total funds brought lorrfard Tolal funds cowwled lorward 94.¢J)3 94.0?4 42,016 36.746 136,019 130,770 134,770 136.019 13 The 51alement ol financial aclilivilie5 include5 011 gLin5 and losses recogrwsed in the yeor. All income orid expenditure derives from continving octivities.
GRACE CHURCH TRURO. 07328613 BALANCE SHEET AS AT 31 MARCH 2023 UN•slilcl•d R•itrlcl•d lund# In¢om• lunds 2023 2022 Tot No1• Fixed o$5e15 Tangible o55els 10,732 10.732 2.645 lolal Flxed A$5•1J 10.732 10.732 2.645 Currenl 055els Debtor5 C05h at bonk ond in hand 53.975 39.414 7.197 29,549 01,172 68,903 53.914 84.637 10 Total Cuir*nt A%s•ls 93.389 36.746 130,135 138.551 Ciedilors.. amovnls falling olve wSlhin one year 110.0961 {10,094) Nel current ossels 83,293 36.746 120,039 133.374 Tolal n•1 0$5et5 94.024 36.746 130,770 136,019 Funds ol the ChoFity Re511icled incom8 lund5 Unie51ricled Ivnds 13 36.74 30,744 94,024 42.014 94.CQ3 94.024 Totol rhqiSty Ivndi 94.024 36,146 130,770 136.019 For the year ending 31 March 2023 the company wos enlllled lo exemplion Irom audit under section 477 of the Companie5 Act 2006 reloting to smoll componies. Ihe member5 hove nol iequired the compony lo obtain on avdil ol ils occounls lor Iho yeor In qvestion in accoidonce Mrilh seclion 476. The diieclors acknowledge IheiT re5pon51bililies lor complyin9 wrylh the T8quiremen15 01 the Acl wlh re5PeCt to gcrounling record5 and the preporalion ol accovnls, These accovnls are prepared in occordance with Ihe speciol PTovisions ol Part 15 01 the Compani6$ Acl reloting lo small componies and constitute Ihe annual accounls reqviied by Ihe Companies Acl 2QM)6 and olè lor circvlalion lo members ol Ihe compony. Ihe notes ot poge5 13 10 29 lorm port of Ih•5è oceoun15 Approved by the dlreclors. ond signed on theii beholl by. and aulhori5ed lor i$5ue on 2s/oJ/i+ T Ar¢hbold Tieasurer Mr M Leoch Tru51ee 10
GRACE CHURCH TRURO - 07328613 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 Tolol 2022 Tolol Nole Cosh Ilows Irom operollng 0¢trtIes- Nel cosh provided by lused inl operoling oclivilies (3.892) 117,8361 Cash Ilows Irom Investlng acllvllles- Interest received on cash deposils Purchoge ol equipment Nel cosh provided by lused inl investing oclivilies 68 12.7331 12.6651 (11.799) (11.782) Change in cosh and cash equivolenls in the reporting period 115,674) 120,5011 Cosh and cosh eqLJivolenls ol Ihe beginning of the reporting period 84.637 105,136 Cash and cash eqvlval•nls at the end of th• r•portlng perfod 68.963 84,637
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Nole I Basls of preparation 1.1 Basls of accounllng These accounls have been prepared under Ihe historicol cost convention with items recognised ot cost or Ironsoclion volue unless otherwise stoted in the relevont notes to these accounts. The occounls have been prepared in accordance wilh the Slatement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance wilh Ihe Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 and the Financial Reporling Stondord applicable in Ihe United Kingdom and Republic of Ireland IFRS 1021 ond with the Chorities Act 2011 . The charity constitutes a public benefit entity as defined by FRS 102. 1.2 Golng concein The directors consider thot there is no significonl doubt on Ihe chority's obilily to continue as a going concern. 1.3 Change of accountlng pollcy The accounts presenl o true and fair view and Ihe accounting policies adopted are Ihose oullined in nole 2. 1.4 Changes lo accountlng esllmales No changes to accounting estimates have occurred in Ihe reporting period13.46 FRS 102 SORPI. 1.5 Materlal prfor year errois No material prior year error have been identified in the reporting period13.47 FRS 102 SORPI. 12
GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
Note 2 Accounting policies
2.1 INCOME
Recognition of These are included in the Statement of Financial Activities (SoFA) when: income · the charity becomes entitled to the resources; · it is more likely than not that the trustees will receive the resources; and · the monetary value can be measured with sufficient reliability. Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Grants and Grants and donations are only included in the SoFA when the general donations income recognition criteria are met (5.10 to 5.12 FRS 102 SORP). Tax reclaims on Gift Aid receivable is included in income when there is a valid donations and declaration from the donor. Any Gift Aid amount recovered on a gifts donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. Support costs The charity has incurred expenditure on support costs. Volunteer help Given the absence of a reliable measurement basis, the value of any voluntary help received is not included in the accounts. The nature and scale of the role played by general volunteers is described in the trustees’ annual report. Income from This is included in the accounts when receipt is probable and the amount interest receivable can be measured reliably. 2.2 EXPENDITURE AND LIABILITIES Liability Liabilities are recognised where it is more likely than not that there is a recognition legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Governance Support costs have been allocated between governance costs and and support other support. Governance costs comprise all costs involving public costs accountability of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg staff costs by the time spent and other costs by their usage.
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GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Note 2 | Accounting policies |
|---|---|
| Pension cost | The charity operates a defined contribution pension scheme. |
| Contributions payable to the pension scheme are charged to the | |
| Income and Expenditure account in the period to which they relate. | |
| Redundancy | The charity made no redundancy payments during the reporting period. |
| cost | |
| Deferred | No material item of deferred income has been included in the accounts. |
| income | |
| Creditors | The charity has creditors which are measured at settlement amounts less |
| any trade discounts. | |
| Provisions for | A liability is measured on recognition at its historical cost and then |
| liabilities | subsequently measured at the best estimate of the amount required to |
| settle the obligation at the reporting date. | |
| Basic financial | The charity accounts for basic financial instruments on initial recognition |
| instruments | as per paragraph 10.7 FRS 102 SORP. Subsequent measurement is as per |
| paragraphs 11.17 to 11.19, FRS 102 SORP. | |
| 2.3 ASSETS | |
| Tangible fixed | These are capitalised if they can be used for more than one year, and |
| assets for use by | cost at least £100. |
| charity | They are valued at cost. |
| The depreciation rates and methods used are disclosed in note 9. | |
| Debtors | Debtors (including trade debtors and loans receivable) are measured on |
| initial recognition at settlement amount after any trade discounts or | |
| amount advanced by the charity. Subsequently, they are measured at | |
| the cash or other consideration expected to be received. | |
| Current asset | The charity has investments which it holds for resale or pending their sale |
| investments | and cash and cash equivalents with a maturity date less than one year. |
| These include cash on deposit and cash equivalents with a maturity date | |
| of less than one year held for investment purposes rather than to meet | |
| short term cash commitments as they fall due. | |
| They are valued at fair value except where they qualify as basic financial | |
| instruments. | |
| Financial | The charity only has financial assets and financial liabilities of a kind that |
| instruments | qualify as basic financial instruments. Basic financial instruments are |
| intitially recognised at transaction value and subsequently measured at | |
| their settlement value with the exception of bank loans which are | |
| subsequently measured at amortised cost using the effective interest | |
| method. |
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GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Nole 3 Analysls of Income Analysis Unrestricted funds Restricted income funds 2023 Tolal 2022 Total Donatlons and Donations and legacles: gifts Gift Aid 135,919 17.9 153.819 41,262 177,181 2.152 20,052 43.414 197,233 134.469 18,823 153.292 Total Income from Inveslments: Interest income 68 68 Totol 17 other: Gain on disposal of a tongible fixed osset held for charily's own use 100 Government Grant Tolal 100 TOTAL INCOME 153,936 43.414 197.350 153.360 other Informotlon: All Income In the prlor yeor was unreslrlcted excepl for: £23,930 Donations and £2.143 Gift Aid 15
GRACE CHURCH TRURO- 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Note 4 Anaty515 of expendllure Activity or programme Unreslricled nds Reslricled income funds 2023 Tolal 2022 Tolol Exp•ndllur• on Pa5torol Core & gift5 to Ih05e in need charltobl• o¢lfv1•s Sunday Meeting5 & rebted oclivity Outreach & community projects 63.068 32.015 9S,083 66.581 45.302 8.420 53,722 34,983 45.545 8.249 53,794 50.548 TOTAL EXPENDITURE 153.915 48.684 202.599 Anolysls ol expend1* on Chorfloble octlvllles Activity or progromme Activities undertaken direcl Support Costs 2023 Tolal 2022 Tolul Postoral Care & gilts lo those in need Sundoy Meetings & related activity Oulreoch & community projects 33,010 62,073 95.083 66,581 .376 23,346 53.722 34,983 30.448 23,346 53.794 50,548 T¢>l¢l 93.834 108.765 202.599 Prior yeor expendilvre on chorilotle oclivilies can be anaty5ed 05 follow5= Activity or programme Activities undertaken direct Support Costs 2022 Total Pastoral Care & gills lo those in need Sunday Meetings & related activity Outreach & community projec15 4.764 61.816 66.580 13.018 21.965 34.983 24.020 26.528 50.548 41.802 110,309 16
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Nole 5 Support Cosls Support cost 2023 Bosls of Total allocation Pastoral Sunday Outreach Governance 408 1,224 Equally 102.987 stoff Hours Slaff Costs 59,115 21.936 21.936 Office Expenses Total 2,550 l.C02 l.(KJ2 4.554 staff Hours 62,073 23,346 23,346 108,765 Support costs are ollocoted primarily on the basis of sloff lime, os this is the best indication of where resources are expended. Staff costs are opporlioned directly.. each employee's costs according to the staff hours spenl on each activity across an average week. Office Expenses are apportioned generally.. according to lolal number of stoff hours spent on eoch oclivity. Governonce costs ore allocoled equally across the three activties. Nole 6 Detolls of certaln Items ol expendllure Fees for exomlnatlon of the occovnts 2023 2022 Independent exomlner's fees Tax advlsory fees other fees pald lo the Independenl examlner 300 300 17
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Nole 6 Pald employees 6.1 Slaff Costs 2023 2022 Salaries and wages Social securily costs Pension costs (defined conlribulion scheme) other employee benefils 89.710 94,874 7,005 4,667 6,272 6,714 840 Total slaff costs 102.987 107,095 Expenditure on stoff working for Ihe charity whose contracts are wilh and ore poid by a related party: £nil12022'. £nill No employee5 received employee benefits (excluding employer pension costs) for the reporting period of more thon £60,0W. Tolol omount poid lo key monogemenl personnel lincludes Irustees ond senior manogementl for their services to the chority.. £87,011 12022.. £87,906) 2023 2022 Numbei Number 6.2 Average head count In Ihe year Fundralslng Charltable Acllvllles Governance other Tolal 18
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Nole 7 Deflned conlrlbutlon penslon scheme Amount of conlributions recognised in the SOFA os an expen5e.' £6,27212022'. £6,714). Grace Church Truro contributes 7% of employee's salaries to the scheme. £6.272 of pension expenses are ollocated lo unreslricled funds, as the majority of slaff resources were expended on unreslricted fund activities during the year. £nil was allocated to the Falmoulh Church Plant reslricled fund lo represent Ihe staff time spent on this project. 19
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Nole 8 Tanglble Ilxed assets 8.1 Cost or valuallon Flxlures & Flttlngs Computer Eqvlpment Total At l April 2022 Additions 4.435 4,666 9,101 11.799 11,799 Disposals At 31 March 2023 4,435 16.465 20,900 8.2 Depreclallon and Impolrmenl$ Slraighl Line I SL") or Reducing Balance l RB I Rale RB SL Total 25% 3 years At l April 2022 Disposals Depreciation At 31 March 2023 3.975 2.480 6,455 136 3.577 3.713 4.111 6,057 10,168 8.3 Net book value At 31 March 2023 324 10,408 10.732 At 31 March 2022 460 2.185 2,645 20
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Nole 9 Debtors and prepayments 2023 2022 Prepoyments and accrued income 61,172 53,914 61,172 53,914 Nole 10 Cash at bank and In hand 2023 2022 Short term deposits Cash at bank and on hand 20,359 20,354 48,604 64,283 68.963 84,637 Cash ot bonk ond in hond is held to meet short-temi cosh commilments 05 they fall due, rather thon for investmenl purposes. All shorl term deposits ot the yeor end were held in the form of cosh deposits. 21
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Nolell Credltors ond accruals Amounls falllng due within one year 2023 2022 Trade creditors Accruals and deferred income Pension 600 600 986 637 PAYE 5,528 1.032 Wages Credit card 2.982 2,908 10,096 5,177 Nole 12 Falr volue of assets and Ilabllllles The Direclors do not deem the Charity to be exposed lo ony material credit risk Ilhe risk of incurring a loss due to a deblor nol paying what is owed) liquidily risk Ilhe risk of nol being able lo meel shorl term financial demands) or market risk Ilhe risk thal the value of an investment will foll due to chonges in the market) arising from finonciol instruments to which Ihe chority is exposed ol the end of the reporting period. There is no change in the fair value of bosic financial instruments (debtors. creditors. investments (see section I I , FRS 102 SORPII measured at fair value through the SOFA thal is attributable to changes in credit risk. 22
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GRACE CHURCH TRURO- 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Note 14 Charlty lunds {cont) 14.1 Translers between funds Reason for Ironsfer Amount Belween unrestricted To meet any 5horlfall belween donations ond reslricled funds received for o specific purpose. ond resources acluolly expended on that purpose. 2023: £0 2022.. £0 14.2 Deslgnoted lund$ Planned use Pvrpose ol the de$lgn¢Jllon Amounl Individvols in Need Funds Sel 05ide eoch yeor from General Funds ogoinsl poslorol needs within the Church lo be administered as Ihe leaders. discretion. Any money vndistribuled ol yeor end held in Designoled Fund lor lulure needs. 2023: £4,218 2022.. £11,979 Operolional Cosls Three monlh operolional conlingenl fund in the evenl ol vnexpecled loss in income 2023: £18.000 2022.. £18,CMJ) Church Plonling To help future Chvrch Plonling endeovours 2023: £0 2022.. £0 2023: £15.775 Folmouth Church Plant This fund sels aside a proporlion of general donation5 lo help fund the Falmouth Church Plonl 2022.. £15.775 Giving This fund 5els aside l 0% of unreslricted income each year which is dislribuled as gifts lo other choritoble couses lo directly pursue Ihe charity's objeclives to pursue Ihe Christian lailh ond of the provision ol relief, educotion ond ossislonce for persons in condilion5 of need. hardship or di5tres5. 2023: £12.102 2022.. £5,882 24
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Note 15 Transactions with Iwstees and rel(Tled parlies 15.1 Trvstee remuneration and benefits In the period the chority hos poid tsuslees remunerolion ond benefit5. Amounts pald or benefit valve 2023 2022 Remuneratlon Penslon conlrlbullon TOTAL TOTAL Name of trustee Mallhew Leach Legal authorlty Articles 01 Association 38,485 2,881 41,366 42,098 Payment was made entirely lor services given under the terms ol his employment contract os Elder/Leader ol the Church. ond not lor his role os Trvslee. All trustees are volunteers who give Iheir lime and expertise withoul chorge. 15.2 Trv$tO0$' oxpon$e$ In the period no trLJslee expenses hove been incurred. 2023 2022 Type ol expenses relmbursed Subslstence Offlce Expendllvr• Tralnlng TOTAL Number ol Iruslee5 reimbursed l(x expense5 or who had expenses paid by the chority.. O 12022: 01 15.3 Transoclions Vth related parties The lolal amount of donations received in the period withoul conditions from all Trustees wos £18.06012022.' £18.0601. There were no outslonding bolonces wilh reloled parties as at 31 March 202312022= £nill- 25
GRACE CHURCH TRURO - 07328613 NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Nole 16 Reconclllallon of net Income/(expendlluie) to nel cash flow from operallng acllvllles 2023 2022 Net lexpenditurel for the reporting period Adjustmenls for.. Depreciotion charges Inlerest received on cosh deposits Ilncreasel I decrease in debtors Increase / Idecreasel in credilors (5,249) 1.249 3.713 972 (17) 1681 (7,258) 119.0721 4,919 19171 Net cash provided by (used in) operating activities (3,892) 117,8361 Nole17 Chorltoble Company Stolvs The charity does nol hove a share capilal as the liobilities of its members are limited to the guarantee up to a maximum of £1 each. 26
CHARITY (OMMISSION I FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Rèport to thè trustees GRACE CHURCH TRURO On accounts for the year ended 31st MARCH 2023 Charity no {if any) 1138212 Set out on pages 2-26 I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 31103 12023. As the charity's trustees, you are responsible for the preparation of the accounts in accordance Wth the requirements of the Charities Act 2011 I'the Act'} Responsibilities and basis of report I report in respect of my examinat10n of the Trust's accounts carried out under se-clion 145 of the 2011 Act and in carrying out my examination, I have lollokwed all the applicable Directions given by the Charity Commission uiider seGlIL,n 145(Jllb) of the Act. Independent I have completed Iny examination. I confirm that no material matters have examiner's ststement come lo my attention in connection with the examination which gives me caLJse to believe that in, any material respect". the accountin9 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 concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Signed: Date: 21/031zoZ Name: REBECCA THOMAS Relevant professional qualification{sl or body lif any): FCCA Address: EZ rf£CvER8YK) tolo. F-ALTA CoRhJLJALL IER Oct 2018
Seetion B Dlgclosure Only complete Il the examiner needs lo highlight material mallers of concern (see CC32, Independent examination of charity ac¢ounts'. directions and guidance for examiners). Give hore brlèf detsilg of any items that the examiner wlshes to disclose IER Oct 2018