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 applicat￿e in the UK and Republic of Ireland IFRS
1021 issued in Oclober 2019 and Ihe Financ￿1 Reporling Slandard applicoble in the
United Kingdom and Republic of Irekjnd IFRS 1021 and wilh the Charities Acl 2011.
OBJECllVES, AC￿V￿lEs 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 Christ￿n 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/lexpend￿Uie)
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¢t￿rtIes-
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. 

13 



**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**|<br>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.|



14 



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¢lfv￿1•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 expend￿￿1* 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

u u
E É É

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 V￿th 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 W￿th 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£C*vER8YK) tolo. F-AL￿￿TA 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