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← Grace Church, Truro

2025-03-31-accounts

GRACE CHURCH TRURO Report and Financial Statements Year ended 31 March 2025

Company Number: 07328613

DIRECTORS’ REPORT

GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report and the unaudited financial statements for the year ended 31 March 2025.

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 (FRS 102) 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 follows:

The main activities undertaken in relation to the Charity’s purposes are:

Objectives and Activities cont

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GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2025

When planning our activities for the year, the Directors and Leadership of the charity have considered the Charity Commission’s guidance on public benefit and, in particular, the 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 to be in line with 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 the 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, together with Saskia Archbold 2 days a week. Emma Mills continued to work one day a week leading our Transforming Lives for Good project. Dakarai Kuhlengisa was appointed in July 2024 to work 3 days a week as Operations Manager. Staff costs account for 63% of the charity’s total unrestricted expenditure for the year, which demonstrates the relational and pastoral priorities of the Charity.

Church family

Alongside introducing people to the Christian faith, a principle aim of Grace Church is seeing people equipped “for works of service”. In other words, to play their part in society as a whole through their paid work, their leisure, their relationships – in fact, their whole life!

All are welcome to attend our regular Sunday services. 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 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. We place our prime emphasis on discipleship and seek to ‘learn from the master’, Jesus.

Grace Church continues to enjoy a close relationship with our wider family of churches, Advance Movement.

Living with Vision

• Lives 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: Come, Holy Spirit; Tales of the Kingdom (parables of Jesus); The Spirit is given for Mission; To the ends of the Earth and the depth of our hearts.

Children attending our Sunday gatherings (Grace Kids) are part of either the Key Stage 1 or Key Stage 2 group. The children's work is based on Montessori methods

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GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2025

using Godly Play to support children's understanding of the Bible in ageappropriate ways. We have used various materials (fabric, wood. clay, paper craft) to respond and explore the Bible stories on a deeper level. Children have enjoyed a soft play afternoon, Church Fun Day and Christmas 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 time together on Sundays, Grace Church Youth continue to enjoy Friday night socials which have mostly run fortnightly throughout term. With 12-14 year old and 15-18 year old age groups our Sunday sessions are 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 20 young people aged 12 - 18 from Grace Church Truro and Blaze Church Newquay to the “Newday” festival in Norfolk. They enjoyed great teaching, large corporate worship and opportunities to build relationships across churches and it has been a joy to watch them grow as a result.

Grace Church Truro has many members working in the NHS and other public services where job demands, and shift patterns may prevent attendance at weekly meetings. We recognise the need to ensure all members feel included, loved and supported and therefore alongside our weekly community groups we have encouraged more informal, sometimes digitally enabled, communities to form. This year we have formalised this into our “Interest Groups” which meet this need. The groups are themed around sports, gender, family circumstances and other things people have in common.

• Transforming Lives for Good

In partnership with the Christian charity Transforming Lives for Good (TLG), we continued to run the Early Intervention project in 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 at school, or other needs identified by the teaching staff. Volunteers from Grace Church Truro meet for an hour a week, for a year, to form a relationship with a child based on curiosity and empathy and offer additional support to that provided by teaching staff. Alongside this commitment, more volunteers from Grace Church Truro also provide ‘listening lunchtimes’ for children who simply need someone to talk to and help navigate the unstructured times at break.

• Connecting our friends with the 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 to create more opportunities, including the Alpha Course and a Christmas carol service.

• Porthtowan Church plant

After a number of years praying for a church planting endeavour in the coastal

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GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2025

village of Porthtowan, nine miles outside of Truro, a faithful core team of individuals have begun planning in earnest for the forming of a congregation which launched publicly in January 2025. We are delighted to see the church growing in faith and number with a vision to share the love of Jesus in and around Porthtowan. They have a particular heart to communicate the gospel through serving the community, for example through community-building activities like the Big Lunch, and regular communal meals for lonely older people.

• Deepening the understanding of our faith

We continued to run the ‘Advance Theology’ course with Modules 4, 5 & 6 on Exile and Return, The Gospels and Paul’s letters. The Advance Theology Course is a twoyear course which covers the entire storyline of the Bible, summarises theological doctrines and highlights several key points in the history of the church. Learners do preparatory reading, watch a teaching video and meet fortnightly as a group to discuss the content.

• Working with other churches

We believe in the biblical principle of partnership and are committed to partnering with other like-minded churches where we can.

Grace Church is also a partner church of Advance, an international movement of churches that exists to advance the gospel through planting and strengthening churches. We also supported two church members to visit a partner church in Asia in Autumn 2024.

• Expressing God’s generosity

Over the year the charity has made several gifts to other charitable causes to directly pursue its objectives to pursue the Christian faith and of the provision of relief, education and assistance for persons in conditions of need, hardship or distress. These gifts included: £10,000 to Blaze Church Newquay, £4,875 to Advance Movement; £4,400 to UCCF and student mission work; £1,220 to Christians Against Poverty; £1,300 to Truro Foodbank; £500 to Hidden Help; £2,230 on overseas aid.

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GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2025

Financial Review

Incoming resources

Total incoming resources for the year ending 31 March 2025 were £248,089. This included donations and gift aid totaling £239,199 from church members, the principal source of funds for the charity.

Resourced expended

Total resources expended were £247,156.

Funds and Balance Sheet

Total unrestricted funds are £116,320 (of which £54,683 is undesignated) and restricted funds are £30,573 at the year end.

Reserves policy

The directors review the charity’s reserves policy regularly in the light of Charity Commission guidance. There are three categories of reserves held.

General funds are undesignated.

Designated funds arise from the setting aside of some general giving against the identified needs in line with the Charity’s objectives:

Restricted funds arise where gifts are received for specific purposes. Expenditure is distributed in line with these requirements.

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GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2025

Investment policy

In keeping with the reserves policy, funds are maintained to meet foreseeable recurring expenditure. The Charity does not hold substantial 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 accounts and fixed-rate deposit (or bonds) of six- or 12-month periods may be used to maximise interest whilst 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 risk management

The directors have overall responsibility for Grace Church Truro’s system of internal control. Such a system 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 operates a planning and budgeting system with an annual budget approved by the board of directors. Significant changes are subject to specific approval. A financial reporting system compares results with the budget on a quarterly basis.

The directors are satisfied that systems are in place to monitor, manage and mitigate Grace Church Truro’s exposure to major risks. A risk register has been created to help track and manage the most significant risks that could impact the charity. The directors have put in place controls to protect against the identified risks and where the risk level is deemed to be unacceptable, additional controls are being implemented. Risk management is a dynamic process and the directors ensure that 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 undertaking activities to achieve the objectives of the charity.

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GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2025

Structure, Governance and Management

Grace Church Truro was incorporated on 28 July 2010 as a company limited by guarantee and registered as a charity on 29 September 2010.

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 directors 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 the 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 the 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, accounting, and leadership and as trustees in previous churches. Training is provided to board members as required.

Using information from Advice for the Voluntary Sector (AfVS), 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 administrative records that need to be updated when a new person is appointed.

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GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2025

Reference and Administrative details

Charity name Grace Church Truro Registered charity number 1138212 Charity’s principal address 5 Grenville Road and Registered Office Truro TR1 3TJ Trustee & Directors Talan Archbold Resigned 18 June 2024 Kerry Doyle Ray Gilliland Matthew Leach Resigned 28 January 2025 Kathryn Nichols Judy Pyke Helen Sewell Appointed 18 June 2024 Paul Williams Alison St John Appointed 20 May 2025 Elders Andrew Sampson Matthew Leach Benjamin Sewell John Peters Registered Company Number 07328613 Bankers National Westminster Bank 2-4 Nicholas Street Truro TR1 2RN Stewardship Services (UKET) Ltd 1 Lamb’s Passage London EC1Y 8AB CAF (Scottish Widows Bank plc) 67 Morrison Street Edinburgh EH3 8YJ

Website

www.gracetruro.org

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GRACE CHURCH TRURO REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2025

The directors declare that they have approved the report above.

Signed on behalf of the charity’s directors:

Full names: Helen Sewell Position: Trustee Date: 17 December 2025

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GRACE CHURCH TRURO - 07328613

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 INCOME AND EXPENDITURE ACCOUNT

Note
Income and endowments from:
3
Donations
Charitable activities
Investments
Expenditure on:
4
Charitable activities
Reconciliation of funds:
Total funds carried forward
14
Net movement in funds
Total funds brought forward
Total
Total
Net income/(expenditure)
Transfers between funds		 Unrestricted
funds
Restricted
income funds
2025
Total
2024
Total
£
£
£
£
208,604
32,896
241,500
208,460
-
4,747
4,747
-
1,843
-
1,843
2,458
210,447
37,643
248,090
210,918
205,791
41,365
247,156
195,728
205,791
41,365
247,156
195,728
4,656
(3,722)
934
15,190
100
(100)
-
-
4,756
(3,822)
934
15,190
111,565
34,395
145,960
130,770
116,321
30,573
146,894
145,960

The statement of financial actitivities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

GRACE CHURCH TRURO - 07328613

BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
9
Total Fixed Assets
Current assets
Debtors
10
Cash at bank and in hand
11
Total Current Assets
Creditors: amounts falling due within
one year
12
Net current assets
Total net assets
Funds of the Charity
Restricted income funds
14
Unrestricted funds
14
Total charity funds		 Unrestricted
funds
Restricted
income funds
2025
Total
2024
Total
£
£
£
£
3,478
-
3,478
9,281
3,478
-
3,478
9,281
15,351
1,011
16,362
16,865
115,018
29,562
144,580
128,177
130,369
30,573
160,942
145,042
(17,526)
-
(17,526)
(8,363)
112,843
30,573
143,416
136,679
116,321
30,573
146,894
145,960
-
30,573
30,573
34,395
116,321
-
116,321
111,565
116,321
30,573
146,894
145,960

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The notes at pages 13 to 29 form part of these accounts

Approved by the directors, and signed on their behalf by, and authorised for issue on xxx 2025

Helen Sewell

Trustee

GRACE CHURCH TRURO - 07328613

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Note
Cash flows from operating activities:
Net cash provided by (used in) operating activities
18
Cash flows from investing activities:
Interest received on cash deposits
Purchase of equipment
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
11
Cash and cash equivalents at the end of the reporting period		 2025
Total
2024
Total
£
£
14,560
58,751
1,843
2,458
-
(1,994)
1,843
464
16,403
59,215
128,177
68,962
144,580
128,177

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 1 Basis of preparation

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

The accounts have been prepared in accordance 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 (FRS 102) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

1.2 Reconciliation with previous Generally Accepted Accounting Practice

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required and have deemed no such restatements necessary.

1.3 Going concern

There are no material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern.

1.4 Change of accounting policy

The accounts present a true and fair view and the accounting policies adopted are those outlined in note 2.

1.5 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).

1.6 Material prior year errors

No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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.

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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 £300.
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.

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 3 Analysis of income
Analysis Unrestricted Restricted 2025 2024
funds income funds Total Total
£ £ £ £
Donations and Donations
legacies: and gifts
 181,074 27,166 208,240 180,762
Gift Aid
 27,230 3,730 30,960 27,697
General
grants
provided by
government/o
ther charities
300 2,000 2,300 -
Charitable Total
Income for		 208,604 32,896 241,500 208,460
activities: events
 - 4,747 4,747 -
Income from Total
Interest		 - 4,747 4,747 -
investments: income
 1,843 - 1,843 2,458
Total 1,843 - 1,843 2,458

TOTAL INCOME		 210,447 37,643 248,090 210,918

Other information:

All income in the prior year was £26,646 Donations and £544 Gift Aid unrestricted except for:

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 4 Analysis of expenditure

Activity or programme Unrestricted Restricted 2025 2024
funds income funds Total Total
£ £ £ £

Expenditure on
Pastoral Care & gifts to those in need		 57,964 25,276 83,240 83,670

charitable
activities
Sunday Meetings & related activity		 61,039 6,431 67,470 66,039

Outreach & community projects		 86,788 9,658 96,446 46,019
TOTAL EXPENDITURE 205,791 41,365 247,156 195,728
Analysis of expenditure on charitable activities
Activity or programme Activities Support Costs 2025 2024
Pastoral Care & gifts to those in need undertaken
directly
£
32,155		 £
51,085		 Total
£
83,240		 Total
£
83,670
Sunday Meetings & related activity 26,374 41,096 67,470 66,039
Outreach & community projects 42,151 54,295 96,446 46,019
Total 100,680 146,476 247,156 195,728
Prior year expenditure on charitable activities can be analysed as follows:
Activity or programme Activities Support Costs 2024
Pastoral Care & gifts to those in need undertaken
directly
£
24,611		 £
59,059		 Total
£
83,670
Sunday Meetings & related activity 27,857 38,182 66,039
Outreach & community projects 18,276 27,743 46,019
70,744 124,984 195,728

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 5 Support Costs

Governance
Staff Costs
Office Expenses
Total
Support cost		 Pastoral
Sunday
Outreach
2024
Total
Basis of
allocation
£
£
£
£
595
595
595
1,785
Equally
46,364
34,920
48,846
130,130
Staff Hours
4,126
5,582
4,854
14,562
Staff Hours
51,085
41,096
54,295
146,476

Support costs are allocated primarily on the basis of staff time, as this is the best indication of where resources are 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 Details of certain items of expenditure

Fees for examination of the accounts
2025 2024
£ £
Independent examiner’s fees 309 300
Tax advisory fees 0 0
Other fees paid to the independent examiner 0 0

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 7 Paid employees

7.1 Staff Costs

7.1 Staff Costs
2025 2024
£ £
Salaries and wages 119,827 107,523
Social security costs 6,124 1,759
Pension costs (defined contribution scheme) 9,085 6,902
Other employee benefits 473 36

Total staff costs		 135,510 116,221

Expenditure on staff working for the charity whose contracts are with and are paid by a related party:

£nil (2024: £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:

£100,231 (2024: £94,558)

7.2 Average head count in the year 2025
2024
Number
Number
Fundraising - -
Charitable Activities 5 5
Governance - -
Other - -
Total5 5

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 8 Defined contribution pension scheme

Amount of contributions recognised in the SOFA as an expense: £9,085 (2024: £6,902).

Grace Church Truro contributes 7% of employee’s salaries to the scheme.

£8,906 of pension expenses are allocated to unrestricted funds, as the majority of staff resources were expended on unrestricted fund activities during the year. £179 was allocated to the Social Action restricted fund to represent the staff time spent within the year.

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 9 Tangible fixed assets

At 1 April 2024
Additions
Disposals
At 31 March 2025
Rate
At 1 April 2024
Disposals
Depreciation
At 31 March 2025
At 31 March 2025
At 31 March 2024
Straight Line ("SL") or Reducing
Balance ("RB")
9.1 Cost or valuation
9.2 Depreciation and impairments
9.3 Net book value		 Fixtures &
Fittings
Computer
Equipment
Total
£
£
£
1,359
15,167
16,526
-
-
(1,359)
(1,605)
(2,964)
-
13,562
13,562
RB
SL
Total
25%
3 years
£
697 6,5487,245
(697)
(984)
(1,681)
- 4,5214,521
- 10,085 10,085
- 3,4783,478
661 8,619 9,281

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 10 Debtors and prepayments

Prepayments and accrued income
Note 11 Cash at bank and in hand
Short term deposits
Cash at bank and on hand		 2025
2024
£
£
16,362
16,865
16,362
16,865
2025
2024
£
£
107,09020,646
37,490107,531
144,580
128,177

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 the 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 2025

Note 12 Creditors and accruals

Trade creditors
Accruals and deferred income
Pension
PAYE
Credit card		 2025
2024
£
£
10,0001,781
2,3061,828
-32
2,563
-
2,6574,722
17,526
8,363
Amounts falling due
within one year

Note 13 Fair value of assets and liabilities

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) , liquidity risk (the risk of not being able to meet short term financial demands) or market risk (the risk that the value of an investment will fall due to changes in the market) arising from financial instruments to which the charity 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 11, FRS 102 SORP)) measured at fair value through the SoFA that is attributable to changes in credit risk.

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 14 Charity funds

Details of material funds held and movements during the year ending 31 March 2024

Fund balances Fund balances
Type * Purpose and Restrictions brought forward Income Expenditure Transfers carried forward
1 April 2024 31 March 2025
Fund names £ £ £ £ £
General Fund UR General purpose 55,144 209,607 (178,001) (32,067) 54,683
Designated - In Need UR Set aside for Pastoral Needs - 840 (3,264) 11,200 8,776
Designated - Operation Costs UR Three month operational contingency 39,000 - - - 39,000
Designated - Giving UR Set aside 10% of unrestricted income in 17,420 - (24,526) 20,967 13,861
year. To be distributed as gifts to other
charitable causes in line with Charity's
Objectives
Restricted - Church Planting R Donations made specifically to 3,750 - - - 3,750
facilitate future church planting
activities
Restricted - Falmouth Church Plant R Donations made specifically for 19,522 - (19,522) - -
Church Planting endeavours in
Falmouth and related expenditure
Restricted - Training R Donations made for annual Training 3,149 - (1,000) - 2,149
Schemes (practicial & theological
training internship programme) and
related expenditure
Restricted - In Need R Donations to meet specific pastoral 100 - - (100) -
needs
Restricted - Building R Donations made to fund future 2,350 - - 2,350
buildings
Restricted - Social Action R Donations made to fund social action 2,891 894 (3,785) - -
work
Restricted - Pothtowan R Donations made towards work in 2,792 27,978 (5,685) - 25,085
Porthtowan
Restricted - Newday R Donations made specifically to help (158) 8,771 (11,373) - (2,760)
fund youth event "Newday" and
related expenditure
Total Funds 145,960 248,090 (247,156) - 146,894

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 15 Charity funds

Details of material funds held and movements during the year ending 31 March 2024

Fund balances Fund balances
Type * Purpose and Restrictions brought forward Income Expenditure Transfers carried forward
1 April 2023 31 March 2024
Fund names £ £ £ £ £
General Fund UR General purpose 43,929 184,272 (154,005) (19,052) 55,144
Designated - In Need UR Set aside for Pastoral Needs 4,218 - (5,440) 1,222 -
Designated - Operation Costs UR Three month operational contingency 18,000 - - 21,000 39,000
Designated - Falmouth Church Plant UR Set aside proportion of giving for 15,775 - - (15,775) -
Falmouth Church Plant
Designated - Giving UR Set aside 10% of unrestricted income in 12,102 - (13,163) 18,481 17,420
year. To be distributed as gifts to other
charitable causes in line with Charity's
Objectives
Restricted - Church Planting R Donations made specifically to 3,750 - - - 3,750
facilitate future church planting
activities
Restricted - Falmouth Church Plant R Donations made specifically for 18,618 5,410 (4,506) - 19,522
Church Planting endeavours in
Falmouth and related expenditure
Restricted - Training R Donations made for annual Training 4,149 - (1,000) - 3,149
Schemes (practicial & theological
training internship programme) and
related expenditure
Restricted - In Need R Donations to meet specific pastoral - 7,600 (7,500) - 100
needs
Restricted - Building R Donations made to fund future 100 2,250 - - 2,350
buildings
Restricted - Social Action R Donations made to fund social action 7,102 1,225 (750) (4,686) 2,891
work
Restricted - Job Club R Funding received to establish Job Club 1,000 - - (1,000) -
and related expenditure.
Restricted - Pothtowan R Donations made towards work in 1,788 1,585 (581) - 2,792
Porthtowan
Restricted - Website development R Funding received from the Templeton 238 - (48) (190) -
Foundation for the development of
Grace Church website
Restricted - Newday R Donations made specifically to help - 8,576 (8,734) - (158)
fund youth event "Newday" and
related expenditure
Total Funds 130,769 210,918 (195,727) 145,960

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 16 Charity funds (cont)

16.1 Transfers between funds

Reason for transfer Amount
Between unrestricted To meet any shortfall between donations 2025: £100
and restricted funds received for a specific purpose, and
resources actually expended on that		 2024: £0
purpose.
16.2 Designated funds
Planned use Purpose of the designation Amount
In Need Funds set aside each year from General 2025: £8,776
Funds against pastoral needs within the
Church to be administered as the leaders'		 2024: £0
discretion. Any money undistributed at year
end held in Designated Fund for future
needs.
Operational Costs Three month operational contingent fund in
the event of unexpected loss in income		 2025: £39,000
2024: £39,000
Giving This fund sets aside 10% of unrestricted 2025: £13,861
income each year which is distributed as
gifts to other charitable causes to directly		 2024: £17,420
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.

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 17 Transactions with trustees and related parties

17.1 Trustee remuneration and benefits

In the period the charity has paid trustees remuneration and benefits.

Amounts paid or benefit value 2025 2024 Remuneration Pension TOTAL TOTAL contribution Name of trustee Legal authority £ £ £ £ Matthew Leach Articles of 46,837 3,279 50,116 47,279 Association

Payment was made entirely 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 Trustees' expenses

In the period no trustee expenses have been incurred.

17.3 Transactions with related parties

The total amount of donations received in the period without conditions from all Trustees was £22,490 (2024: £19,780). There were no outstanding balances with related parties as at 31 March 2025 (2024: £nil).

GRACE CHURCH TRURO - 07328613

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Note 18 Reconciliation of net income/(expenditure) to net cash Reconciliation of net income/(expenditure) to net cash flow from
operating activities
2025 2024
£ £
Net (expenditure) for the reporting period 934 15,190
Adjustments for:
Depreciation charges 5,803 3,445
Interest received on cash deposits (1,843) (2,458)
(Increase) / decrease in debtors 503 44,307
Increase / (decrease) in creditors 9,163 (1,733)
Net cash provided by (used in) operating activities 14,560 58,751

Note 19 Charitable Company Status

The charity does not have a share capital as the liabilities of its members are limited to the gurantee up to a maximum of £1 each.

Document Activity Report

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Independent examiner's report on the accounts

Section A Independent Examiner’s Report e ~~ee~~

Report to the trustees GRACE CHURCH TRURO ~~PC~~ On accounts for the year 31[ST] MARCH 2025 Charity no 1138212 ended (if any)

Set out on pages

I report to the trustees on my examination of the accounts of the above charity Grace Church Truro for the year ended 31/03/2025.

Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report 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 carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

I have completed my examination. I confirm 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 that in, any material respect:

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.

Date: 17/12/2025

Signed: Name: REBECCA THOMAS ~~PO~~

Oct 2018

1

IER

Relevant professional FCCA qualification(s) or body (if any):

Address: 82 TREVERBYN ROAD, FALMOUTH, CORNWALL, TR11 5BS

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 .

Oct 2018

2

IER

IER Oct 2018

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