GRACE CHURCH TRURO
Report and Financial Statements
Year ended 31 March 2024
Company Number: 07328613
•AOIXLP6R•
2811212024
COMPANIES HOUSE
#49
DIRECTORS, REPORT

GRACE CHURCH TRURO
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
The director5 present their report and the unaudited financial statements for the year
ended 31 March 2024.
The financial statements comply with the Statement of Recommended Practice:
Accounting and Reporting by Charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the
United Kingdom and Republic of Ireland IFRS 1021 and with the Charities Act 2011 .
OBJECTIVES, ACTIVITIES AND PUBLIC BENEFIT
The main areas of charitable activity of Grace Church Truro are to advance the
Christian faith and the provision of relief. education and assistance for persons in
conditions of need. hardship or distress. In order to achieve this, the objects of the
company are as foll0v￿.
to advance the Christian faith by such means as the Company shall determine
from time lo lime.
to relieve persons who are in conditions of need. hardship or distress as a result
of local or intemotional disaster, or by reason of their social. medical or
economic circumstances.
to advance educotion in family life, in marriage and family relationships. in
particular. bul not exclusively, by the organisation of courses for the teaching of
skills and parenthood.
lo odvance Christian religious education and training.
The main activities undertaken in relation to the Charity's purposes are:
Pastoial care & glfts to those In need: By this we simply mean "looking after
people". Whether this is Ihrough organising our network of community groups
(midweek smaller groups), equipping through teaching or direct intervention
with individuals through either personal or financial resources our aim is to build
up and serve people to live life lo the fullest.
Sunday meellngs & related acllvlty: Gathering together is on expression of the
friendship that we have as part of the Christian faith. It is also a means by which
people who have never experienced the Christian life can be introduced to it
and be helped to take next steps to follow Jesus should they so wish.
Oulreach & communlty projecls: An imperative of the Christian faith is to reach
out to those who don't know Jesus. We believe that there is good news to be
shared. In this area we are seeking to organise and equip but in addition
explore ways in which we can make a material difference lo the lives of the
wider community around us. We recognise this is a key area for growth.

GRACE CHURCH TRURO
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
Objectfves and Activlties cont
When planning our aclivities for the year. the Directors and Leadership of the charity
have considered the Charity Commission's guidance on public benefil and, in
particular. Ihe specific guidance on charities for the advancement of religion. The
review of activities in this report reflects how we have implemented this through a
range of activities which we consider lo be in line wilh both this guidance and our
objectives.
Grace Church Truro is a dynamic, growing church with a vision to bring help not just
to its members but also the local area. Cornwall and Ihe UK. The directors recognise,
and are sincerely grateful for. the volunteers who contribute so much to all that
happens in the life of the church. Every week at least 50 volunteers are active in the
Church to build community. help those in need and help organise gatherings to
come together and worship Jesus Christ.
REVIEW OF THE YEAR'S ACTIVITIES
staff
Matt Leach and Andrew Sampson remained on staff for 5 days per week. Saskia
Archbold was recnJited as adminislrator at the start of the year, 2 doys a week.
Emma Mills was also appointed at the slart of the year to work one day a week to
establish the Transforming Lives for Good work (see below). Staff costs account for
65% of the charity's total unrestricted.expenditure for the year, which demonstrates
the relalional and pastoral priorities of the Charity.
Church famlly
Alongside introducing people to the Christian faith. a principle aim of Grace Church
is seeing people equipped for works of seNice" In other words, to play their parl in
society as a whole through their paid work, their leisure, their relationships - in fact,
their whole lifel
All are welcome to attend our regular Sunday seNices. As well as Sunday meetings,
church members meet midweek in community groups where the day-to-day life of
the church is worked out. These groups ore 'open' communities where anyone can
belong and also begin to outwork the vision and values of the church in every
aspect of their lives. We place our prime emphasis on discipleship and seek to 'learn
from the moster,. Je5US.
Grace Church continues to enjoy a close relationship with our wider family of
churches. Advance.
Llvlng wlth Vlslon
Ilves changed by the gospel
Each of our Sunday morning preaching series throughout the year aimed to
connect the Christian faith to everyday life as well as being an opportunity for
enquirers to find out more. Topics covered included: An overview of Hebrews - Why
Jesus is better (than everythingll; Serving the Community: The Lord's Prayer:
Abraham- living by faith: Tales of the Kingdom: Jesus, parables.

GRACE CHURCH TRURO
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
Children attending our Sunday gatherings (Grace Kids) are part of either the Key
stage l or Key Stage 2 group. The children's work is based on Montessori methods
using Godly Play to support children's understanding of the Bible in age-
appropriate ways. We have used various materials (fabric, wood. clay, poper
craft) to respond and explore the Bible stories on a deeper level. Children have
enjoyed a soft play aftemoon. Church Fun Day, Christmas party and Christingle
service that reaches out to the community. A creche space for babies and pre-
schoolers continues to be provided. allowing for role play opportunities. small
world toys and books of simple Bible stories.
As well as our regular lime together on Sundays. Grace Church Youth have
enjoyed an increase in the frequency of our Friday night socials which hove mostly
run fortnightly, instead of monthly.
As the group has grown to over 20 youth, we have split into Iwo separate age
groups of 12-14 and 14-16. adding to our team of adult volunleers and providing a
more stnjctured transition from the younger kids work at Grace church into youth.
This has allowed our Sunday sessions to be more focused to the needs of each
group and continue to provide opportunities for our older youth to be engaged
and connected into serving teams and the community of church.
One of our highlights of the year has been taking 18 of our youth along with 6 from
blaze church to Newday festival in Norfolk. the success of which has sparked
further conversations amongst us leaders on planning more local join events for
young people to continue building relationships and community here in Comwall.
We are looking forward to continuing growth as a group as we seek to provide a
nurturing environmenl for young people.
In January 2024, we re-launched our midweek community groups. These groups are
'open' communities where anyone can belong and also begin to outwork the vision
and values of the church in every aspect of their lives. With the re-launch and
clearer strategy these groups are thriving as members help one another grow in
love. shoring the ups and downs of life, together in prayer.
Grace Church Truro hos mony member5 working in the NHS and other public
services where job demands. and shift patterns may prevent attendance at weekly
meelings. We recognise the need to ensure all members feel included, loved and
supported and therefore alongside community groups we have encouraged more
informal. sometimes digitally enabled. communities to form.
Transformlng Llves for Good
In partnership with the Christian charity Transforming Lives for Good {TLGI. we
launched the Early Intervention project in May 2023. Working with a local secondary
school in Truro. the project seeks to support secondary school age children who
need support with areas they are finding challenging, be that emotional, making
friends. fitting in al school, or other needs identified by the leaching staff. Volunteers
from Groce Church Truro meet for an hour a week. for a year, to form a relationship
based on curiosity ond empathy with a child and offer additional support to that
provided by teaching staff. At present we have five coaches who have all

GRACE CHURCH TRURO
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
undergone training and commenced coaching sessions in February 2024. We are
looking forward to recruiting and training more volunteers to support more pupils at
the school.
Connecting oui lrfend$ wlth Ihe gospel
We are focused on encouraging every member of the church to see themselves on
the missionary frontline and share the gospel with others as they have opportunity.
We also hosted events throughout the year lo create more opportunitie5. including
the Alpha Course and a Christmas carol service.
Falmouth Church planl
During the summer of 2023, the leadership team took Ihe difficult but necessary
decision to close Ihe Falmouth Church plant work, known locally as Anchor of Hope.
The excellent community built since the start in 2017 continues to forge relationships
across Falmouth. whilst individuals have found other churches with whom to worship
and continue the missions. Since the year end all reslricted 'Falmouth Church Plant,
funds have been passed on to organisations carying out a similar work, with the
agreement of donors.
• Porthtowan Church plant
After a number of years praying for a church planting endeavour in the coastal
village of Porthtowan. nine miles outside of Truro. a faithful core team of individuals
have begun planning in eornest for the forming of a congregation. Towards the end
of the year. a Good Friday reflection together with an Easter Sunday celebrating in
the village holl have helped launch the work in a more public manner. Since the
year end. plans have accelerated and we are excited to see the forming of this
new church plant.
• Worklng wllh other churches
We believe in the biblicol principle of portnership and are committed to partnering
with other like-minded churches where we can.
Grace Church is also a partner church of Advance, an intemational movement of
churches that exists to advance the gospel through planting and strengthening
churches.
Expiesslng God's generoslty
Over the year the charity has made several gifts to other charitable causes to
directly pursue its objectives to pursue the Christian failh and of the provision of relief.
education and assistance for persons in conditions of need. hardship or distress. These
gifts included: £4.125 to Advance Movernent," £2.420 to Christians Against Poverty;
£3.100 lo Truro Foodbank: £5(X) to Hidden Help; £378 to Heathercombe Brake Trust;
£140 to UCCF and £2,500 to VOriOUs church planting endeavours.

GRACE CHURCH TRURO
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
Financial Revlew
Incomlng resouices
Total incoming resources for the year ending 31 March 2024 were £210,918. This
included donations and gift old totaling £208.460 from church members, the
principal source of funds for the charity.
Resourced expended
Total resources expended were £195.728.
Funds ond Balance Sheet
Total unrestricted funds are £1 11.5651of which £55.145 is undesignatedl and
restricted funds are £34.395 at the year end.
Reseryes pollcy
The directors review the charity's reseNe5 policy regularly in the light of Charity
Commission guidance. There are three categories of reserves held.
General funds are undesignoted.
Designated funds arise from the setting aside of some general giving against the
idenlified needs in line with the Charity's objectives:
To maintain a fund with which to be able to assist members of the church in
need
To maintain a three-month operational costs contingency
To set aside l 0% of unrestricled income each year to distribute as gifts to other
charitable causes to directly pursue the charity's objective5 to pursue the
Christian faith and of the provision of relief. education and assistance for
persons in conditions of need, hardship or distress.
Restricted funds arise where gifts are received for specific purposes. Expenditure is
distributed in line with these requirements.

GRACE CHURCH TRURO
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
Investmenl policy
In keeping with the reserves policy. funds are maintained to meet foreseeable
recurring expendilure. The Charity does not hold substontial investments, nor does it
judge it appropriate to do so.
In order to achieve slightly higher interest rates than those associated with the
charity's current account. as well as distribute the funds across different accounts.
standard deposit occounts and fixed-rate deposit (or bonds) of six- or 12-month
periods may be used to maximise interest whi15t keeping all funds in cash. The choice
of such accounts is aimed at maximising interest whilst maintaining the necessary
degree of access.
Consideration is also given to ethical and environmental issues in choosing
investment institutions.
Internal control and rf5k management
The directors have overall responsibility for Grace Church Truro's system of internal
control. Such a syslem can provide only reasonable and not absolute assurance
against errors or frauds. There is a clear delegation of the directors, authority through
the Eldership to the rest of the church.
Grace Church operales a planning and budgeting system with an annual budget
approved by the board of direclors. Significant changes are subject to specific
approval. A financial reporting system compores results with the budget on a
quarterfy basis.
The directors are salisfied that systems are in place to monitor, manage and
mitigate Grace Church Truro's exposure to major risks. A risk regisler has been
crealed to help track and manoge the most significant risks that could impact the
charity. The register currently conlains 43 potential risks, each of which is reviewed at
least once a year by a subcommittee of the directors. The directors have put in
place controls to protect against the identified risks and where Ihe risk level is
deemed to be unacceptable, additional conlrols are being implemented. Risk
management is a dynamic process and the directors ensure thot new risks are
addressed as they arise.
The directors recognise that the nature of some of the charity's work requires active
acceptance and management of some risks when undertoking activities to achieve
the objectives of the charity.

GRACE CHURCH TRURO
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
stiuctvre. Governance and Management
Grace Church Truro was incorporated on 28 July 2010 as a company limited by
guaranlee ond registered as a charity on 29 September 201 0.
The company was established under a Memorandum of Association which
established the objects and powers of the charitable company and is governed by
its Articles of Association. In the event of the company being wound up members
are required to contribute an amount not exceeding £1.
The directors. who meet at least four times a year, are responsible for ultimate
strategic decisions. recognising the oversight of the Church rests with the Elders. The
direclors are regarded as the trustees of the charity for the purpose of the Charities
Act 1993.
Directors are appointed at the Annual General Meeting. The directors may also
appoint a director to serve until Ihe next Annual General Meeting, at which time he
or she would cease to hold office but would be eligible for election.
The directors monitor finance. risk management, human resource management,
facilities management. health and safety and safeguarding.
The Eldership of the Church oversees the achievement of the objectives of Ihe
charity, day-to-day operational decisions and the co-ordination and direction of
Grace Church Truro's work. Progress is monitored regularly by the directors.
The directors are members of the church and bring experience and expertise in
business, accounling. ond leadership and as truslees in previous churches. Training is
provided to board members as required.
Using information from Advice for the Voluntary Sector IAfVSI, we have developed
an induction checklist that to ensure that new directors are given access to all
necessary information to fully understand the role and responsibilities of being a
Trustee. The checklist also covers the administralive records thal need to be
updated when a new person is appointed.

GRACE CHURCH TRURO
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
Reference and Admlnlstrallve delalls
Charity name
Reglslered charlty number
Charlty's princlpal address
and Reglslered Office
Grace Church Truro
1138212
5 Grenville Road
Truro
TRI 3TJ
Trustee & Direclors
Talan Archbold
Kery Doyle
Ray Gilliland
Matthew Leach
Kothryn Nichols
Judy Pyke
Helen Sewell
Paul William5
Resigned 18 June 2024
Appointed 18 June 2024
Elders
Andrew Sampson
Matthew Leach
Benjamin Sewell
Reglstered Company Number
07328613
Bankers
National Westminster Bank
2-4 Nicholas Street
Truro TRI 2RN
stewardship Services IUKETI Ltd
l Lamb's Passage
London
ECIY 8AB
CAF (Scottish Widows Bank plc)
67 Morrison Street
Edinburgh 1143 8YJ
Webslle
www.gracetruro.org

GRACE CHURCH TRURO
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
The dlrectors declare that they have approved the report above.
Slgned on behall of the charlly's dlrectors:
Full names:
Helen Sewell
Poslllon:
Trustee
Dale:
18 December 2024

CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's report on the
accounts
Section A
Independent Examiner's Report
Report to the trustees
GRACE CHURCH TRURO
On accounts for the year
ended
31ST MARCH 2024
Charity no
(if any)
1138212
Set out on pages
IFGck(&
CQ¢J
I report to the trustees on my examination of the accounts of the above
charity Grace Church Truro for the year ended 3110312024.
Responsibilities and
basis of report
As the charity's trustees, you are responsible for the preparation of the
accounts in accordance with the requirements of the Charities Act 2011
("the Act").
I report in respect of my examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carying out my examination, I
have followed all the applicable Directions given by the Charity Commission
under section 145(5Xb) of the Act.
Independent
charity's gross income exc
dto
examiner's statement underta
ion by being a qualified member of [insert name of
le.
le listed bo
I have completed my examination. I confimi that no material matters have
come to my attention in connection with the examination (other than that
disclosed below ') which gives me cause to believe thal 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
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 lo which attention should be drawn in this report in
order to enable a proper underslanding of the accounts to be reached.
Please delete the words in the brackets if they do not apply.
Signed:
Date:
i%.11.i*
Name:
REBECCA THOMAS
Relevant professional
qualification(s) or body
(if any):
FCCA
IER
Oct 2018

Address:
82 TREVERBYN ROAD, FALMOUTH, CORNWALL, TR115BS
Section B
Disclosure
Only complete if the examiner needs to highlight material matters of concern
(see CC32, Independent examination of charity accounts.. directions and
guidance for examiners).
Give here brief details of
any items that the
examiner wishes to
disclose.
IER
Oct 2018

GRACE CHURCH TRURO - 07328613
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
INCOME AND EXPENDITURE ACCOUNT
IlnTeslTlcled
funds
Resfrlcted
come fvnds
2024
Total
2023
Totol
Nole
Income and endowments from:
Donalions
Choritoble aclivitle5
Investment5
Tolal
181.814
26.646
208,460
197,233
2,458
184,272
2.458
210,918
26,646
197.350
Expèndllure on:
Choritable activllles
Tolol
172,609
172,609
23,119
23,119
195.728
195.728
202.600
202.600
Nel Income/(exp•ndlhKe)
11,663
3,527
15.190
15.2501
Tran￿•ts b•lw••n fvnds
5,878
15.8781
Nel movement In Ivnds
17,541
12,351)
15,190
15.2501
R•conclllallon of fvndi:
Tolol lunds brought forword
Tolal lundi caffled foThvaid
94,024
111.565
36.746
34,395
130.770
145.960
136.019
130,770
The stolement of financiol aclltivilies includes all gains and losses recognised in the year.
All income and expendilvre derive from conlinuing activitie5.

GRACE CHURCH TRURO - 07328613
BALANCE SHEET AS AT 31 MARCH 2024
Unrestrkted
Reslrt¢led
funds Income funds
21Y24
Tolol
2023
Tolal
Nole
Fixed ossels
Tongible 05sels
9,281
9.281
10,733
Tolal Flxed Assets
9.281
9.281
10,733
Currenl assels
Debtors
Cosh ol bonk ond in hand
10
16,838
93,809
27
34.368
16.865
128.177
61,172
68,962
Tolal CvTh•nl Ass•ts
110.647
34.395
145.042
130,135
Creditors: omounls folling dve within
one yeor
18,3631
(8.363)
110.0961
Nel cvffent ossets
102,284
34.395
136.679
120,039
Tolal nol assoh
111.565
34.395
145.960
130,770
Funds of lh8 Charity
R8slricled income fund5
Unrestricted funds
14
34.395
34,395
111.565
36,746
94.024
14
111.565
Total chorfty fvnds
111.565
34.395
145.960
130,770
For the yeor ending 31 March 2024 the compony was entltled to exemplion from oudit vnder section 477of the
Companies Act 2CQ6 relaling to 5moll componies.
The members have not required the compony to obtain on avdil of its occovnls lor the year in queslion in
accordonce with section 476.
The directors ocknovledge Iheir responsibilities lor complylng with Ihe reqviremenls of the Acl with respect to
accounting records ond the preporalion of accounts.
These occounts are prepared in occordonce with the special provisions of Part 15 of the Companies Act relating
to small componies and constitute the annual accoun15 required by Ihe Componies Act 2W6 and ore for
circulation to members of the company.
The notes ot poge$ 13 to 29 fomi part ol these accounls
Approved by the direclors. ond signed on their beholf by, and avthorised for issue on 18 December 2024
Helen
ewell
Trustee

GRACE CHURCH TRURO- 07328613
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024
2024
Tolal
2023
Total
Note
Cash flows from operatlng aclfvlmes:
Nel cosh provided by (used in) operating oclivities
18
58,757
13,892}
Cash flows from invesNng acllvltles:
Inleresl received on cosh deposits
Purchase of equipment
Nel cash provided by Ivsed inl investing aclivilies
2,458
(1.994)
464
111,8001
111,7831
Change in cash and cosh equivolents in the reporting period
59.215
115.6751
Cosh ond cosh equivalents al the beginning of the reporting period
68,962
84.637
Cosh and cash equlvalents al the end ol Ihe reportlng pwlod
128,177
68,962

GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Note I
Basls of preparallon
1.1 Basls ol accounllng
These accounls have been prepared under the historical cost convention with
items recognised at cosl or transaction value unless otheTrvise stated in the relevant
notes to Ihese accounts.
The accounts have been prepared in accordance with the Slatement of
Recommended Practice: Accounling ond Reporting by Charilies preparing their
accounts in accordance with the Financiol Reporting Standard applicable in the
UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 and the Financial
Reporting Standard opplicable in the United Kingdom and Republic of Ireland IFRS
1021 and with the Charities Act 2011.
The charity constitutes a public benefit entity a5 defined by FRS 102.
1.2 Reconclllallon wlth pievlou5 Generally Accepted Accountlng Practlce
In preparing the accounts, the trustees hove considered whether in applying the
accounting policies required by FRS 102 and the Charities SORP FRS 102 Ihe
restatement of comparalive items was required and have deemed no such
restatements necessary.
1.3 Golng concern
There are no material uncertointies related to events or conditions that cast
significant doubt on the charity's ability lo continue as a going concern.
1.4 Change of accounllng pollcy
The accounts present a true ond fair view and the accounting policies adopted
are those outlined in note 2.
1.5 Changes to accountlng esllmates
No changes to accounting estimates have occurred in the reporting period13.46
FRS 102 SORP).
1.6 Malerlal prfor year errors
No material prior year error have 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 2024
Note 2
Accounting policie$
2.1 INCOME
Recognillon ol These are included in the Statement of Finoncial Activities ISOFAI when".
Income
the chority becomes entitled to the resources:
it is more likely than not that the truslees will receive the resources,.
and
the monetary valve can be measured wilh sufficient relioblllty.
There has been no offselling of assels and liabilities. or income and
expenses, unless required or permitted by Ihe FRS 102 SORP or FRS 102.
Offsettlng
Granls ond
donallon$
Grants ond donations are only included in the SOFA when Ihe generol
income recognition criterio ore met15.10 to 5.12 FRS 102 SORPI.
Tax reclalms on Gift Aid receivable is included in income when Ihere is a valid
donollon$ and declaration from the donor. Any Gift Aid amount recovered on a
glfts
donation is considered lo be part of that gifl ond is Ifeated as an
addition lo Ihe same fund os Ihe initial donation unless the donor or the
terms of the appeal have specified olhen*ViSe.
Support cosls
The charity has incurred expendilure on support costs.
Volunteer help Given the absence of a reliable measurement basis, the value of ony
voluntory help recelved is nol included in the accounts. The nature and
scale of the role ployed by general volunteers is described in the
twstees, annual report.
Income from
Interest
This Ss included in the accounts when recelpt is probable and the
amount receivable can be measured reliably.
2.2 EXPENDITURE AND LIABILITIES
Llablllly
Liabilities are recognised where it is more likely Ihan not that there is a
recognlllon
legol or constructive obligalion committing the charity to poy out
resources ond the amount of Ihe obligation can be measured wilh
reasonable certainly.
Governanc•
and support
costs
Support costs have been ollocoled between governance costs and
other support. Governance costs comprise all costs involving pvblic
accountability of the charity and its compliance with regulation ond
good practice.
Support cost5 include central functions and have been allocated to
activity cost categories on o bosis consistent with the use of resources.
eg staff cosls by the time spent ond other cosls by Iheir usoge.

GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Nole 2
Accountlng pollcles
The charity operates a defined contribution pension scheme.
Contributions payable lo the pension scheme are charged to the
Income and Expenditure account in the period to which Ihey relate.
Pen$lon cost
Redundancy
Cost
The charity made no redundancy payments duting the reporting period.
Deferr•d
Income
No material ilem of deferred income has been included In the
accounts.
Credllors
The charity has creditors which ore measured ol setllement amounts less
any trade discounts.
A liability is measured on recognition at its hislorical cost and then
subsequenlly measured ot the best estimat8 of the omount required to
settle the obligalion at the reporting date.
Provlslons lor
Ilabllllles
Ba$lc Ilnanclal The chority accounts for basic financial instruments on initiol recognition
Instrumenlg
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
Tanglble flxed These are capilolised If they can be used for more than on8 year, ond
assets loi u$e by cost at least £3￿.
charlty
They are valued ot cost.
The depreciation rates and methods used are disclosed in note 9.
Debtors (including trade deblors and loans receivoblel ore measured
on initial recognilion ot settlement amount afler any trade discounts or
amount advanced by the charity. Subsequenlly, they are measured at
the cash or other considerotion expected to be received.
Debtors
Cuffenl a$$el
Inveslmenls
The charity hos investments which it holds for resole or pending their Sale
and cash and cash equivalenls with a maturily date less than one year.
These include cash on deposit and cash equivalents with a maturity
dote of less than one year held for investmenl purposes rather Ihan to
meet short lerm cash commitments as they fall due.
Tliey are valued ai falr valuè except where they quality as basic
financial inslruments.
Flnanciol
Inslrumenls
The charity only has financial assets and financial liabililies of a kind that
quality as basic financial instrvments. Basic financiol instrvments ore
intilially recognised ot transaction value and subsequently measured at
their setllement valve with Ihe exception of bank loans which are
subsequently measured al amortised cost using the effective interest
method.

GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Note 3
Analysis of income
Analysis
Unrestricted
funds
Restricted
income funds
2024
Total
2023
Total
Donallons and Donations and
legocles:
gifts
Gift Aid
154,667
27.153
181.814
26.102 180.762
544
27.697
26,646 208,460
177.181
20,052
197,233
Tolal
Income from
Inveslments:
Interest income
2.458
2,458
2,458
2.458
Tolal
TOTAL INCOME
184,272
26,646 210.918
197,350
other Infoirnatlon:
All Income In the prlor year was
unrestrlcled excepl loi:
£41,262 Donations and £2,152 Gift Aid

GRACE CHURCH TRURO- 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Note 4
Analysls of expendlture
Activlty or progromme
Unrestricted
funds
Restricted
income lunds
21)24
Total
2023
Total
Expendllure on Postoral Care & gifts to Ihose in need
charltable
acllvllles
Sundoy Meetings & related octivity
Outreach & community projecls
76,170
7,500
83.670
95,065
57,305
8.734
60,039
53.731
39.134
6.885
46.019
TOTAL EXPENDITURE
172.609
23,119 195,728
202.600
Analysls of expendllufe on charltable acllvlttes
Aclivity or progromme
Aclivilles
undertoken
directly
Support Cosls
2024
Tolul
2023
Tolol
Postorol Care & gifts to those in need
Sundoy Meetings & relot8d aclivity
Ovtreoch & community projects
59,059
76.170
57.305
3?.134
95.065
19,123
38,182
53,731
11,391
27,743
53.804
Tolal
47,625
124.984 172,009
202.6CQ
Prior year expendilvre on choriloble octivities con be analysed as follows:
Acllvlty or progromme
Aclivilies
vndertaken
directly
Support Costs
2023
Totol
Posloral Core & gifts to those In need
Sunday Meetings & reloled activity
Outreach & community projects
33,011
62,054
95.065
30.375
23.356
53.731
30,448
23,356
53.804
93.834
108.766
202.6CO

GRACE CHURCH TRURO- 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Note 5
Support Cosls
Support cost
2024 Basls of
Total allocallon
Pasloral
Sunday
Oulreach
Governance
476
476
476
1,428 Equally
111,527 Staff Hours
staff Costs
53,237
33,963
24.327
Office Expenses
Total
5.347
3.743
2.941
12,030 staff Hours
59.059
38.182
27,743
124,984
Support costs are allocated primarily on the basis of staff time. as Ihis is Ihe best
indication of where resources ore expended. Staff costs are apportioned directly: each
employee's costs according to the staff hours spent on each activity across an average
week. Office Expenses are apportioned generally: according to total number of staff
hours spent on each activity. Governance costs are allocated equally across the three
activties.
Note 6
Detalls of certaln Items of expendltvre
Fees for examlnallon of the accounts
2024
2023
Independent examlnei's fees
Tax advlsory fees
Other fee5 pald to the Independent examlner
3(X)
300

GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Nole 7
Pald employees
7.1 st¢)ff Costs
2024
2023
Salaries and wages
Social security costs
Pension costs {defined contribution scheme)
other employee benefits
107,523
89,709
1,759
7,005
6,902
6,272
36
Total staff costs l 16,221
102,986
Expenditvre on staff working for the charity whose contracts are with and are paid by
a related party:
£nil12022: £nil)
No employees received employee benefits (excluding employer pension costs) for
the reporting period of more than £60.000.
Total amount paid to key management personnel {includes trustees and senior
management) for their services to the charity:
£62,1781201: £57.0611
2024
2023
Number Number
7.2 Average head count In the year
Fundrolslng
Charitable Acllvllles
Governance
other
Tolal

GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Note 8
Dellned conlrlbullon penslon scheme
Amount of contributions recognised in the SOFA a5 an expense: £6.902 (2023:
£6.272}.
Grace Church Truro contributes 7% of employee's salaries to the scheme.
£6,875 of pension expenses are allocated to unrestricted funds. as the majority of
staff resources were expended on unrestricted fund activities during the year. £27
wos allocated to the Social Action restricted fund to represent the staff time spent
on these projects within the year.

GRACE CHURCH TRURO . 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Note 9
Tanglble flxed assets
9.1 Cost or valuotlon
Flxlure$ &
Flttlngs
Computer
Equlpment
Total
At l April 2023
Additions
4,434
16,465
20,899
1,994
1,994
Disposals
Al 31 March 2024
13.075)
1.359
13.2921
15,167
(6,367)
16,526
9.2 Depreclatlon and Impalrments
straight Line I SL") or Reducing
Balance {"RB")
Rate
RB
SL
Total
25%
3 years
At l April 2023
Disposals
Depreciation
At 31 March 2024
4,171
6.057
10,167
13,633)
220
12.384)
2.875
{6,017)
3.095
698
6,548
7,245
9.3 Net book value
At 31 March 2024
661
8,619
9.281
At 31 March 2023
324
10,408
10,733

GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Note 10
Debtors and prepaymenls
2024
2023
Prepayments and accrued income
16.865
61,172
16.865
61,172
Note'l I
Cash at bank and In hand
2024
2023
Short term deposils
Cash at bank and on hand
20.646
20.358
107,531
48,604
128,177
68,962
Cash at bank and in hand is held to meet short-term cash commitments as they
fall due. rather than for investment purposes.
All short term deposits at Ihe year end were held in the form of cash deposits.

GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Note 12
Credllors and accruals
Amounts falllng due
wlthln one year
2024
2023
Trade creditors
Accruals and deferred income
Pension
1,781
1,828
986
PAYE
Credit card
5,528
2,982
4,722
8,363
10,096
Note 13
Falr value ol assels and Ilabllltles
The Directors do not deem the Charity to be exposed to any material credit risk
(the risk of incurring a loss due to a debtor not paying what is owed) , liquidily risk
(the risk of not being oble to meet short term financial demands) or market risk (the
risk thal the value of on investment will fall due to changes in the market) arising
from financial instruments to which the chority is exposed at the end of the
reporting period.
There is no change in the fair value of basic financial instruments (debtors,
creditors. investments (see section I I. FRS 102 SORPII measured at fair value
through the SOFA thal is atlributable to changes in credit risk.

GRACECHURCH T*UIO- 0732•113
NOIES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
JI *prh>)
G￿￿lFu￿
Iiyth
141
LW
&7$)
441D
14,
ITXXI
bul
7.1
11
Im
•*J•U•wr41
lJQ.M•

GIACE CHuRC￿TRu10-￿Y)l•lI)
NOTES FORMING PAItT OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO JI MARCH 2024
all
i&
r47l•a.*olfntyJ￿tWp1o￿ Vl
VN J•loth
IT*
7¥
•d.J&4J¢lub
414
IVJ
lJl,74•

GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Nole 16
Charlty funds (conl)
16.1 Transfers between funds
Reason for transfer
Amount
Befvrfeen unrestricted To meet any shortfall befv4een donations
and restricted funds received for a specific purpose. and
resources actually expended on that
purpose.
2024: £0
2023: £0
16.2 Deslgnaled funds
Planned use
Purpose of Ihe deslgnallon
Amounl
Individuals in Need Funds set aside each year from General
Funds against pastoral needs within the
Church to be administered as the leaders,
discretion. Any money undistributed at year
end held in Designated Fund for future
needs.
2024: £0
2023: £4.218
Operational Costs
Three month operational contingent fund in
the event of unexpected loss in income
2024: £39,000
2023: £18,000
Falmouth Church
Plant
This fund set aside a proportion of general
donations to help fund the Falmouth Church
Plant
2024: £0
2023: £15.775
Giving
This fund sets aside IO% of unrestricted
income each year which is dislributed as
gifts to other charitable causes to directly
pursue the charity's objectives to pursue the
Christian faith and of the provision of relief,
education and assistance for persons in
conditions of need, hardship or distress.
2024: £17.420
2023: £12.102

GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Note 17
Transacllons wllh trustees and related partles
17.1 Truslee remuneratlon and benellts
In the period the charity has paid truslees remuneralion and benefits.
Amounts pald or benefll value
2024
2023
Remunerollon
Penslon
conlrlbutlon
TOTAL
TOTAL
Name ol Iruslee
Mallhew Leach
Legal authorlty
Articles of
Association
44.186
3.093
47.279
41,366
Paymenl was made enlirely for services given under the terms of his employment contract as
Elder/Leader of the Church. and not for his role as Trustee. All trustees are volunteers who
give their time and expertise without charge.
17.2 Tiuslees, expenses
In the period no trustee expenses have been incurred.
17.3 Tfansacllons wlth relaled partles
The tolal amounl of donations received in Ihe period without conditions from all Trustees was
£19,78012023." £18,060). There were no oulslanding balances with related porlies as at 31
March 202412023: £nil).

GRACE CHURCH TRURO - 07328613
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Nole 18
Reconclllallon of net Income/{expendlture) lo nel cash flow
from operotlng acllvllles
2024
2023
Net (expenditure) for the reporting period
Adjustments for:
Depreciation charges
Interest received on cash deposits
Ilncreasel / decrease in debtors
ncrease / Idecreose) in creditors
15.190
15.249)
3.713
(2.458)
44,307
(17)
{7.258)
4,919
(1.733)
Net cash provided by (used in) operating activities
58,751
(3,892)
Note l?
Charltable Company Status
The charity does not have a shore capital as the liabilities of its members are
limited to the gurantee up to a maximum of £1 each.