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2020-12-31-accounts

Grace Church, Cambridge

Report and Accounts Year ended 31 December 2020

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

GRACE CHURCH, CAMBRIDGE

FOR THE YEAR ENDED 31 DECEMBER 2020

COMPANY INFORMATION

Directors/Trustees Mr G Beynon Mr M Borg Mr R Dobson Mrs F Doel Dr P James (until 20 February 2020) Mr J Monteiro (until 20 February 2020) Dr D Roberts Mr M Rowland Mr S Garry Governing Document CIO - Foundation Conversion dated 21 September 2020 Company Registration Number 8257453 Charity Registration Number 1150034 Registered Office 8 Fairbairn Road Cambridge CB4 1UG Independent Examiner Archie McDowall BA CA Stewardship 1 Lamb's Passage London EC1Y 8AB Bankers Co-operative Bank

CONTENTS
Page
Company Information 1
Directors' Report 2-5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9-14
Detailed Statement of Financial Activities with Comparatives 15

Page 1

GRACE CHURCH, CAMBRIDGE REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees have pleasure in submitting the Report and Accounts for the year.

Change of status

In September 2020, Grace Church was reconstituted as a Charitable Incorporated Organisation (CIO) with the Charity Commission and ceased to operate as a Limited Company. The Church Trustees took advice from various experts and it was agreed this form of organisation was better fit for Grace Church.

Objects of the charity

The charity's objects are the advancement and practice of the Christian faith.

Governance

The policy and operating decisions of the charity rest with the Trustees who meet regularly to monitor activities of Grace Church Cambridge. New Trustees are nominated by the current Trustees and their appointment is confirmed by a vote of the Grace Church Cambridge membership.

Review of activities

Despite a global pandemic (Covid-19) in 2020 that impacted in-person gatherings for much of the year, Grace Church Cambridge continued to meet its objectives to advance and practice the Christian faith through the weekly activities of the church, provide family support, community support programmes for the unemployed, debtstricken and elderly, and care for international visitors to Cambridge. Sunday services moved online in March and continued on Zoom for most of the year, apart from a few weeks in October and November. A special service was recorded at the Round Church and streamed via YouTube on Christmas Eve.

Grace Church Cambridge employed five people to oversee the running of church activities.

Grace Church conducted weekly Sunday services for the regular congregation and guests as well as weekly small group meetings for discussion, support and prayer. With the move to online activities in 2020, the church organised a number of special Sunday evening seminars covering topics like: ‘Where is God in the pandemic?’, ‘Dying Well: A Christian view of death’ and ‘What the Bible says about caring for Creation’.

Emmanuel Church Northstowe

Grace Church has been working since 2016 to partner with other Cambridge churches to plant a new church in Northstowe, a new town being constructed north of Cambridge. In April 2018, Emmanuel Church Northstowe began meeting as a church. Grace Church employed a pastor in 2019 to lead this growing group of adults and children and maintained oversight of this ministry. Emmanuel Church Northstowe is financially independent of Grace Church and is now legally independent as a Charitable Incorporated Organisation.

Community Outreach

In 2020, Grace Church continued its work in the community in partnership with the national charity, Christians Against Poverty. Grace Church staff and volunteers worked with local people struggling with debt burdens, unemployment and financial mismanagement. Due to COVID restrictions we were unable to continue with our usual face-to-face coffee drop in from March 2020, debt visits, Life Skills or Job Clubs. Instead, we connected with our contacts and new folk who were struggling, by using Zoom or phone calls. We were unable to run a Job Club specifically, but one of the trained coaches met remotely with individuals to discuss their needs and to help give practice for interviews as well as preparation of CV’s etc. We still have three trained coaches for the CAP job club. Two new men were referred to the Job Club for one-to-one support. One member of our group found employment.

Page 2

GRACE CHURCH, CAMBRIDGE

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2020

Grace Church and its five trained coaches also run a Life Skills course for people in the local area, teaching healthy eating and drinking, how to maintain good mental health, practical cooking skills, healthy relationships and household budgeting on a low income. We also trained another Life Skills coach in 2020. We did a modified version of Life Skills on Zoom, using CAP material called Kick Start. We managed to give three people Internet access (dongles for two households) and computers/ipad for three households provided by the church, that were normally used for our Job Club. This enabled us to all stay connected. When restrictions allowed, we met up for socially-distanced walks in a local park to encourage our members and keep them connected as many of them are isolated.

Finally, Grace Church works with Christians Against Poverty to help families struggling with debt. We have a newly trained debt coach who is attached to Hope Church in East Chesterton. Families are normally visited and supported by church staff and volunteers, and a CAP financial team helps to build an achievable plan for paying off their debt. We had to do this work remotely, with the occasional garden visit. We have continued to have three new clients per month. Most of the families and individuals we supported had emergency aid provided by the church and from CAP. Last year, seven families supported by Grace Church went debt free.

In December, we provided 30 hampers and goody bags for families distributed from 4 different local churches. These were for individuals who were struggling financially.

Over the course of 2020 we saw one profession of faith from our contacts. We also ran a group called 10, 10, 10 (10 mins game, 10 mins testimony, 10 mins Bible discussion) and had between 2- 9 people attending this via Zoom. We also ran a group for people exploring the Christian faith until Dec 2020, with three people remotely on Zoom.

Care Home Ministry

A team 8-10 staff and volunteers from Grace Church has been holding services in Manor Care Home on Sunday afternoons since 2012, but in 2020 this was limited. Before the pandemic we were enjoying regular visits to the care home, delivering services on a fortnightly basis as well as developing relationships with the residents and staff and praying for them. It was a great encouragement to see the team serving the residents and staff at the care home and delivering clear gospel messages.

During the pandemic we have unfortunately not been able to go into the care home but as a team we have met to pray for the residents and organised a DVD service, zoom services, Christmas cards from Grace kids and endeavoured to keep in contact with the staff at the care home. The ministry is currently paused whilst we wait for restrictions to be lifted. We look forward to when we can go back to delivering services and sharing the gospel with the staff and residents of Manor Care Home.

Children and Youth

Grace Church continued its work with children and young people in the area in 2020, primarily through the Sunday service on Zoom. The children’s team developed helpful activities for parents to use at home during the online services, and the Sunday services themselves were designed to include more children. The Teens programme continued online with a fortnightly Sunday evening meeting. Mums of pre-school children at Grace met together weekly on Zoom to discuss biblical approaches to parenting and to encourage each other. At Christmastime, special gift packs with games and Christmas books were given to local families, and a Nativity walk was set up in the local area to help families understand the Christmas story.

Supporting International visitors to Cambridge

The Grace Church volunteers working with international visitors continued their work throughout 2020, albeit very much restrained by restrictions on face-to-face meetings. From March onwards, all English and Bible teaching took place via Zoom. There were few new local contacts, but we were able to maintain links with and continue to help many existing friends who had returned to their own country. We were also able to support some internationals staying in Cambridge at various times through meeting up outdoors one-to-one.

Page 3

GRACE CHURCH, CAMBRIDGE

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2020

National and international financial support

Grace Church was also able to provide financial support to a number of Christian organisations in the UK in 2020, as well as provide financial support for church partners living and working in Cornwall, Manchester, China and Indonesia.

Covid 19 update

During the year Grace Church Cambridge has responded to the COVID-19 pandemic in a number of ways. Sunday services were conducted online, as were mid-week small group sessions. The Christians Against Poverty work continues online, and the church has been instrumental in providing support for CAP clients by continuing debt counselling, job skills training, and general life skills interactions — all online. Our work for internationals also moved online, and has allowed the church to reach and support people who are no longer in Cambridge. The monthly giving that supports the work of the church has been maintained. Our risk analysis shows that there is currently no impact on the viability of Grace Church Cambridge.

Public benefit

In planning the activities the Trustees have had regard to the guidance on public benefit issued by the Charity Commission.

Financial review

Income for the year was £314,262 (2019: £330,989) and expenditure was £254,555 (2019: £246,679) to give a net surplus of £59,708 (2019: £84,310). The unrestricted cash balance at 31 December 2020 is £194,471 (2019: £147,183). This is a solid basis to continue the growth of the Church in the local community. The Directors are very grateful for the generous support of the Church members.

Reserves policy

The Trustees have established a policy whereby free reserves held by the charity should be maintained at between 3 and 6 months of normal monthly church expenditure. The Trustees are happy with the level of free cash reserves of £194,471 at 31 December 2020. The charity is holding excess reserves as it is considering potentially purchasing property at some point in the future. The Trustees also intend to use some of the surplus reserves on training for new pastors at Grace Church.

Risk statement

The Trustees have reviewed the risks to which a small charity operating with few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.

Page 4

GRACE CHURCH, CAMBRIDGE

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2020

Responsibilities of trustees under charity law

The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material departures

disclosed and explained in the financial statements; and

  1. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the

charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the trustees and signed on their behalf by:

M Borg

Date: 22 September 2021

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRACE CHURCH, CAMBRIDGE ('the Charity')

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2020 on pages 7 to 15 following, which have been prepared on the basis of the accounting policies set out on pages 9 to 10.

Responsibilities and basis of report

As the charity’s trustees of the Charitable Incorporated Organisation 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 Charity’s accounts carried out under section 145 of the 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.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do 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.

Archie McDowall BA CA Institute of Chartered Accountants of Scotland

27 September 2021

Stewardship 1 Lamb's Passage London, EC1Y 8AB

Page 6

GRACE CHURCH, CAMBRIDGE

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2020

Note
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Investments
Charitable activities
Other
Total income and endowments
EXPENDITURE ON
Charitable activities
4
Total expenditure
Net income/(expenditure)
Transfers between funds
9
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
9		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2019
£
£
£
£
223,264
89,356
312,620
321,570
198
-
198
303
270
-
270
6,463
1,115
60
1,175
2,653
224,846
89,416
314,262
330,989
172,859
81,696
254,555
246,679
172,859
81,696
254,555
246,679
51,987
7,720
59,708
84,310
(3,989)
3,989
-
-
47,998
11,709
59,708
84,310
140,881
74,484
215,365
131,055
188,880
86,193
275,073
215,365

Movements on reserves and all recognised gains and losses are shown above.

The notes on page 9 to 14 form part of these accounts.

Page 7

GRACE CHURCH, CAMBRIDGE

BALANCE SHEET

FOR THE YEAR ENDED 31 DECEMBER 2020

Note
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Cash at bank
7
CURRENT LIABILITIES
Liabilities falling due within one year
8
Net current assets
NET ASSETS
FUND BALANCES
Unrestricted funds
General funds
9
Designated funds
9
Restricted funds
9		 Unrestricted
Restricted
Total funds
Total funds
Funds
Funds
2020
2019
£
£
£
£
1,783
-
1,783
2,340
1,783
-
1,783
2,340
194,471
86,193
280,664
221,667
194,471
86,193
280,664
221,667
7,375
-
7,375
8,642
187,096
86,193
273,289
213,025
188,880
86,193
275,073
215,365
164,913
-
164,913
127,921
23,967
-
23,967
12,960
-
86,193
86,193
74,484
188,880
86,193
275,073
215,365

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

M Borg Date: 22 September 2021
Charity number: 1150034

The notes on page 9 to 14 form part of these accounts.

Page 8

GRACE CHURCH, CAMBRIDGE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Statutory information

The charity is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.

2 Accounting policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements 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) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The principles adopted in the preparation of the financial statements are set out below.

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes:

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.

Investment income represents income generated by the charity's assets and includes bank interest.

c) Expenditure

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The cost of raising funds is not significant and has not been separately disclosed.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) Fund accounting

Page 9

GRACE CHURCH, CAMBRIDGE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

e) Tangible fixed assets

Fixed assets acquired for use by the charity are capitalised and depreciated over their estimated useful life unless they cost less than £500 when they are written off on purchase.

Depreciation periods are as follows:

Freehold land Not depreciated Freehold buildings 50 years Equipment Between 3 and 7 years Computer equipment 3 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

f) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

g) Taxation

The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

h) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

3
Donations and legacies
Donations
Grants
4
Charitable activities
a
Direct Charitable Costs
Salaries, travel and expenses
Note 5
Venue Hire and other hire costs
Church activity costs
Training
Translation fund
Depreciation
Grants payable
Note 4c
b
Support & Administration
Independent Examination fee
Insurance
Professional services and support costs
Combined charitable activity cost		 Unrestricted
Restricted
Total
Total
Funds
Funds
2020
2019
£
£
£
£
223,264
84,044
307,308
313,642
-
5,312
5,312
7,928
223,264
89,356
312,620
321,570
Unrestricted
Restricted
Total
Total
Funds
Funds
2020
2019
£
£
£
£
114,957
42,083
157,039
155,495
6,817
2,013
8,830
29,124
8,741
7,174
15,915
24,782
670
9,420
10,090
3,162
-
-
-
954
1,278
-
1,278
1,038
31,175
20,180
51,356
25,343
163,638
80,871
244,509
239,898
£
£
£
£
1,890
-
1,890
2,310
688
-
688
682
6,643
825
7,468
3,790
9,221
825
10,046
6,781
172,859
81,696
254,555
246,680

In addition to the fees payable for the preparation and examination of the accounts, the charity paid £896 (2018: £844) to Stewardship for payroll bureau and consultancy services.

c

Grants
Missionary support
Church planting
Relief of poverty
The charity's principal grants to institutions comprised:
Pioneers
OMF
FIEC
Acts 29
SIM International
UCCF
Emmanuel Northstowe
Beirut disaster appeal
Other institutions		 Institutions
Individuals
2020
2019
£
£
£
£
22,157
5,000
27,157
24,140
20,000
-
20,000
-
2,399
1,800
4,199
1,203		 Institutions
Individuals
2020
2019
£
£
£
£
22,157
5,000
27,157
24,140
20,000
-
20,000
-
2,399
1,800
4,199
1,203
44,556
6,800		 51,356
25,343
7,500
4,375
6,500
3,500
2,042
546
1,800
3,800
1,315
1,200
3,000
-
20,000
-
2,219
-
180
3,719
44,556
17,140

Page 10

GRACE CHURCH, CAMBRIDGE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

5
Analysis of staff costs
Gross wages, salaries and Employer's NIC
National insurance
Pension costs
Staff expenses (including accommodation rental costs)
Total staff costs		 2020
2019
£
£
118,454
115,779
5,723
6,662
8,572
9,167
24,290
23,886
157,039
155,495

The average monthly number of employees during the year was 5.58 (2019: 5.33). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the following trustees named on the Company Information page. Total employment benefits payable to key management for the year were as follows:

Salaries Other Employer pension 2020
employment contributions Totals
benefits
Trustees: £ £ £ £
Graham Beynon 30,924 - 2,283 33,207
Robert Dobson 30,626 - 2,448 33,074
Joshua Monteiro (for six months) 12,343 - 1,512 13,855
Stewart Garry 18,327 - 363 18,690
98,826

The following amounts were payable in the previous year:

Salaries Other Employer pension 2019
employment contributions Totals
benefits
Trustees: £ £ £ £
Graham Beynon 30,181 - 2,228 32,409
Robert Dobson 29,880 - 2,374 32,254
Joshua Monteiro 24,083 - 3,024 27,107
Stewart Garry 4,470 - 29 4,499
96,269

In addition the charity incurred expenditure in respect of the customary provision of accommodation to Joshua Monteiro amounting to £8,800 (2019: £13,200) and to Stewart Garry amounting to £12,000 (2019: £5,290), both of whom are trustees, so that they could better perform their duties.

All the trustees listed above served as church leaders and received the above payments for serving in that capacity, not for serving as trustees; these payments are permitted by the charity's governing document.

Page 11

GRACE CHURCH, CAMBRIDGE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

6
Tangible fixed assets
Cost
At 1 January 2020
Additions
Disposals
At 31 December 2020
Accumulated depreciation
At 1 January 2020
Charge for the year
Eliminated on disposals
At 31 December 2020
Net book value
At 31 December 2020
At 1 January 2020
7
Cash at bank
Bank operating account
Bank deposit account
8
Creditors: liabilities falling due within one year
Grant obligations
Accruals		 Equipment
Total
and fittings
2020
£
£
5,762
5,762
722
722
(1,000)
(1,000)
5,483
5,483
3,422
3,422
1,278
1,278
(1,000)
(1,000)
3,700
3,700
1,783
1,783
2,340
2,340
2020
2019
£
£
229,813
171,014
50,851
50,653
280,664
221,667
2020
2019
£
£
5,275
5,000
2,100
3,642
7,375
8,642

Page 12

GRACE CHURCH, CAMBRIDGE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

9 Funds

During the year the movements in the charity's funds were as follows:

Opening Incoming Outgoing Transfers Closing
balance resources resources balance
£ £ £ £ £
Designated Funds
Hardship fund - 12,807 (1,800) - 11,007
Training fund 12,960 - - - 12,960
12,960 12,807 (1,800) - 23,967
General Unrestricted Funds 127,921 212,039 (171,059) (3,989) 164,913
Total Unrestricted Funds 140,881 224,846 (172,859) (3,989) 188,880
Restricted Funds
Christians Against Poverty - 1,750 (5,739) 3,989 -
Job Education Fund 284 - (284) - -
Training Fund 26,918 30,105 (27,371) - 29,652
NCA School maintenance fund - 800 - - 800
Trainee Church Planter Fund - 4,512 (4,512) - -
Northstowe Plant 47,282 52,249 (43,789) - 55,741
Total Restricted Funds 74,484 89,416 (81,696) 3,989 86,193
The assets and liabilities represented by the various funds are as follows at 31 December 2020:
Fixed Bank & cash Other net Total
assets balances assets
£ £ £ £
Restricted funds - 86,193 - 86,193
Unrestricted funds 1,783 194,471 (7,375) 188,879
1,783 280,664 (7,375) 275,073

The restricted Training fund comprises donations given towards the training of new pastors.

The restricted Northswowe Plant fund comprises donations given towards the establishment of a new church in Northstowe.

In the previous year the movements in the charity's funds were as follows:

Designated Funds
Training Fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Christians Against Poverty
Job Education Fund
Training Fund
Crosslands Translation Project
Trainee Church Planter Fund
Northstowe Plant		 Opening
Incoming
Outgoing
Transfers
Closing
balance
resources
resources
balance
£
£
£
£
£
-
-
-
12,960
12,960
-
-
-
12,960
12,960
123,266
224,846
(172,859)
(15,749)
159,504
238,388
186,437
(166,032)
(2,789)
256,003
481
3,760
(7,030)
2,789
-
284
-
-
-
284
-
35,326
(8,408)
-
26,918
-
954
(954)
-
-
-
6,974
(6,974)
-
-
7,025
97,538
(57,281)
-
47,282
7,790
144,552
(80,647)
2,789
74,484

The assets and liabilities represented by the various funds were as follows at 31 December 2019:

Restricted funds
Unrestricted funds		 Fixed
Bank & cash
Other net
Total
assets
balances
assets
£
£
£
£
-
74,484
-
74,484
2,340
147,183
(8,642)
140,881
2,340
221,667
(8,642)
215,365

Page 13

GRACE CHURCH, CAMBRIDGE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

10 Transactions with related parties During the year the charity:

Except as disclosed in note 5 'Analysis of staff costs', there have been no other transactions with related parties during the year.

11 Events since the year end

In April 2018, Grace Church sent a number of members to start a new ministry in Northstowe, a new town being constructed outside of Cambridge. During 2020 this group became an independent church, registered at the Charity Commission as a Charitable Incorporated Organisation. During 2021 the balance of the restricted Northstowe Plant fund is being transferred to the new charity.

12 Members

Each member of the company commits to contribute if the charity is wound up an amount of £10.

Page 14

GRACE CHURCH, CAMBRIDGE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 DECEMBER 2020

Note
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Investments
Charitable activities
Other
Total income and endowments
EXPENDITURE ON
Charitable activities
4
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
9		 Total
Total
Funds
Funds
2020
2019
2020
2019
2020
2019
2020
2019
£
£
£
£
£
£
£
£
210,457
178,242
12,807
-
89,356
143,328
312,620
321,570
198
303
-
-
-
-
198
303
270
5,558
-
-
-
905
270
6,463
1,115
2,334
-
-
60
319
1,175
2,653
Unrestricted Funds - General
Unrestricted Funds - Designated
Restricted Funds
212,039
186,437
12,807
-
89,416
144,552
314,262
330,989
171,059
166,032
1,800
-
81,696
80,647
254,555
246,679
171,059
166,032
1,800
-
81,696
80,647
254,555
246,679
40,980
20,405
11,007
-
7,720
63,905
59,708
(84,310)
(3,989)
(15,749)
-
12,960
3,989
2,789
-
-
36,991
4,656
11,007
12,960
11,709
66,694
59,708
(84,310)
127,921
123,265
12,960
-
74,484
7,790
215,365
131,055
164,913
127,921
23,967
12,960
86,193
74,484
275,073
215,365

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