## Grace Church, Cambridge
Report and Accounts Year ended 31 December 2021
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **GRACE CHURCH, CAMBRIDGE**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## **CHARITY INFORMATION**
**Directors/Trustees** Mr G Beynon Mr M Borg Mr R Dobson Mrs F Doel 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|
|Charity 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 2021**
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**
The continuing global pandemic (COVID-19) impacted in-person gatherings for the first part of 2021, but Grace Church Cambridge continued to meet its objectives to share and live out the Christian faith through the daily activities of the church family. Through this the church provided family support, community support programmes for the unemployed, debt-stricken and elderly, and care for international visitors to Cambridge. Sunday services were a hybrid of in-person and on Zoom throughout the year, with numbers attending in-person increasing as the year went on. Despite still needing to require proof of a negative COVID-19 test for all attendees, the year ended with a special service Christmas Candlelight service at the Round Church. This event was well attended and was recorded and shared via YouTube for those who could not attend.
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 Bible study and discussion, support and prayer. We continued to hold prayer meetings and monthly church family meetings online via Zoom.
## **Community Outreach**
In 2021, 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 difficulties. Although COVID restrictions were less strict, COVID still loomed large, and so visits were irregular. We were able to continue work with a combination of visits and phone calls, however. Another debt coach from Hope Church East Chesterton worked alongside our debt coach and both were fully booked.
Families are normally visited and supported by a trained debt coach and trained volunteer befriender. The CAP financial team at head office do the debt management planning and build an achievable route out of debt, giving on-going support until our clients go debt free. Trained Grace Church people then continue to support those who are working with us for as long as they want our support. In 2021, we saw six families go debt free.
We also began to re-establish our various weekly groups. After re-starting a job club with low attendance, we adapted and began to focus more on families. The Grace Church children and family worker got involved and we started a group at the nearby Church of the Good Shepherd on Mondays. We converted our Job Club into a oneto-one service and one of our church members connected with those interested in jobs, while our family group offered parenting, budgeting and life skills advice. Grace Church’s trained Life Skills coaches aim to promote discussion and sharing of ideas to point people to healthy lifestyle habits, such as maintaining good mental health, practical cooking skills, healthy relationships and household budgeting on a low income. We also had six Grace Church members who trained to offer the Money Course. We delivered two four-week courses, one during the day and the other in the evening, supporting six people across those two courses.
Page 2
## **GRACE CHURCH, CAMBRIDGE**
## **REPORT OF THE DIRECTORS**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
Grace Church also ran some online evening sessions over two weeks for the charity “Homestart” and supported four families in this way. We also ran an online session for four people on budgeting for “Make do and mend,” another charity focusing on mental health.
Our Community Outreach Worker was seconded to work with Emmanuel Church in Northstowe for one day each week where she ran a Life Skills group. Emmanuel regularly had four or five families coming to this. An evening money course was attended by five people, and a “Summer Drop In” for a coffee and chat allowed us to connect with several local families and individuals as well as provide information about CAP. Six of the Emmanuel team trained to become money coaches.
In December, Grace Church homegroups provided hampers and goody bags for families and individuals who were struggling financially.
## **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 the global pandemic beginning in 2020 limited this ministry. 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. 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 has continued to serve children and young people who are part of the church family, and those in the local community in 2021. A combination of resources were created for parents to use with children at home, including teaching ideas and short input videos, as well as in-person classes for children aged 0-12 on Sunday mornings from April 2021. The teaching teams have continued with a whole church curriculum model, enabling families to learn together. The Teens programme continued online with a fortnightly Sunday evening meeting. At Easter and Christmas, gift bags with Bible story books and activities were given to local families to help explain why these events are significant. From September 2021, a Christians Against Poverty group specifically suitable for local families with pre-school children was established to enable parents to attend CAP Life Skills and Money courses.
## **Supporting International visitors to Cambridge**
The Grace Church volunteers working with international visitors continued their work throughout 2021, albeit still restrained by restrictions on face-to-face meetings. For most of the year, English and Bible teaching took place via Zoom, but face-to-face meetings recommenced in October. As has been the case since the start of the pandemic, there were only a 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 one-to-one meetings.
Page 3
## **GRACE CHURCH, CAMBRIDGE**
## **REPORT OF THE DIRECTORS**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## **National and international financial support**
Grace Church was also able to provide financial support to a number of Christian organisations in the UK in 2021, as well as provide financial support for church partners living and working in Bulgaria, Greece, Manchester, China and Indonesia.
## **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 £235,529 (2020: £314,262) and expenditure was £293,408 (2020: £254,555) to give a net deficit of £57,879 (2020:surplus of £59,708). The unrestricted cash balance at 31 December 2021 is £200,573 (2020: £194,471). 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 £200,573 at 31 December 2021. 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 2021**
## **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
5. 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
M Borg
Date: 2 October 2022
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 2021 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**
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**
Archie McDowall BA CA Institute of Chartered Accountants of Scotland
3 October 2022
Stewardship 1 Lamb's Passage London, EC1Y 8AB
Page 6
## **GRACE CHURCH, CAMBRIDGE**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
|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
2021
2020
£
£
£
£
199,329
30,539
229,868
312,620
110
-
110
198
4,769
-
4,769
270
781
-
781
1,175|
|---|---|
||204,990
30,539
235,529
314,262
206,203
87,204
293,408
254,555|
||206,203
87,204
293,408
254,555|
||(1,214)
(56,665)
(57,879)
59,708
(4,944)
4,944
-
-|
||(6,157)
(51,722)
(57,879)
59,708|
||188,880
86,193
275,073
215,365|
||182,722
34,472
217,194
275,073|
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 2021**
|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
2021
2020
£
£
£
£
785
-
785
1,783|
|---|---|
||785
-
785
1,783
200,573
34,472
235,045
280,664|
||200,573
34,472
235,045
280,664|
||18,636
-
18,636
7,375|
||181,938
34,472
216,409
273,289|
|||
||182,722
34,472
217,194
275,073|
||159,651
-
159,651
164,913
23,072
-
23,072
23,967
-
34,472
34,472
86,193|
||182,722
34,472
217,194
275,073|
The financial statements were approved by the Board of Trustees on 2 October 2022 and were signed on its behalf by:
## **M Borg**
M Borg
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 2021**
## **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.
- a) Going concern
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:
- i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
- ii) The charity relies on volunteers to carry out many of its activities, particularly Christians Against Poverty work and Manor Care Home ministry. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
- iii) Legacies. Income from legacies is recognised when a distribution is received from the estate or, if earlier, when the charity has been notified that a distribution will be made and the amount receivable can be measured reliably.
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
- Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
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
- General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
Page 9
## **GRACE CHURCH, CAMBRIDGE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## 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**
Unrestricted
Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
Donations
199,329
30,539
229,868
307,308
Grants
-
0
0
5,312
199,329
30,539
229,868
312,620
**4**
**Charitable activities**
Unrestricted
Restricted
Total
Total
Funds
Funds
2021
2020
**a**
**Direct Charitable Costs**
£
£
£
£
Salaries, travel and expenses
Note 5
128,666
18,510
147,177
157,039
Venue Hire and other hire costs
17,730
-
17,730
8,830
Church activity costs
11,226
7,344
18,570
15,915
Training
1,635
5,444
7,079
10,090
Depreciation
999
-
999
1,278
Grants payable
Note 4c
40,379
55,906
96,285
51,356
200,636
87,204
287,840
244,509
**b**
**Support & Administration**
£
£
£
£
Independent Examination fee
2,100
-
2,100
1,890
Insurance
638
-
638
688
Professional services and support costs
2,829
-
2,829
7,468
5,567
-
5,567
10,046
**Combined charitable activity cost**
206,203
87,204
293,408
254,555
**c**
**Grants**
Institutions
Individuals
2021
2020
£
£
£
£
Missionary support
26,704
10,010
36,714
27,157
Church planting
55,906
-
55,906
20,000
Relief of poverty
-
3,665
3,665
4,199
82,610
13,675
96,285
51,356
The charity's principal grants to institutions comprised:
Pioneers
7,500
7,500
OMF
5,500
6,500
FIEC
2,504
2,042
Acts 29
3,000
1,800
SIM International
6,200
1,315
Emmanuel Northstowe
55,906
20,000
UCCF
2,000
3,000
Beirut disaster appeal
-
2,219
Other institutions
-
180
82,610
44,556
In addition to the fees payable for the preparation and examination of the accounts, the charity paid £1,002 (2020: £1,074) to Stewardship
for payroll bureau and consultancy services.|Unrestricted
Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
199,329
30,539
229,868
307,308
-
0
0
5,312|Unrestricted
Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
199,329
30,539
229,868
307,308
-
0
0
5,312|
|---|---|---|
||199,329
30,539
229,868
312,620||
||Unrestricted
Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
128,666
18,510
147,177
157,039
17,730
-
17,730
8,830
11,226
7,344
18,570
15,915
1,635
5,444
7,079
10,090
999
-
999
1,278
40,379
55,906
96,285
51,356||
||200,636
87,204
287,840
244,509||
||£
£
£
£
2,100
-
2,100
1,890
638
-
638
688
2,829
-
2,829
7,468||
||5,567
-
5,567
10,046||
||206,203
87,204
293,408
254,555||
||82,610
13,675|96,285
51,356|
|||7,500
7,500
5,500
6,500
2,504
2,042
3,000
1,800
6,200
1,315
55,906
20,000
2,000
3,000
-
2,219
-
180|
|||82,610
44,556|
Page 10
## **GRACE CHURCH, CAMBRIDGE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## **5 Analysis of staff costs**
|||
|---|---|
|**ysis of staff costs**
Salaries
National insurance
Pension costs
Staff expenses (including accommodation rental costs)
Total staff costs|2021
2020
£
£
114,041
118,454
5,756
5,723
8,499
8,572
18,881
24,290|
||147,177
157,039|
The average monthly number of employees during the year was 5 (2020: 5.58). 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|2021|
|---|---|---|---|---|
|||employment|contributions|Totals|
|||benefits|||
|Trustees:|£|£|£|£|
|Graham Beynon|31,685|-|2,340|34,025|
|Robert Dobson|31,392|-|2,515|33,907|
|Stewart Garry|19,392|-|395|19,787|
|||||87,719|
The following amounts were payable in the previous year:
||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|
In addition the charity incurred expenditure in respect of the customary provision of accommodation to Joshua Monteiro amounting to £nil (2020: £8,800) and to Stewart Garry amounting to £12,000 (2020: £12,000), both of whom have been 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 2021**
|**6**
**Tangible fixed assets**
Cost
At 1 January 2021
Additions
Disposals
At 31 December 2021
Accumulated depreciation
At 1 January 2021
Charge for the year
Eliminated on disposals
At 31 December 2021
Net book value
At 31 December 2021
At 1 January 2021
**7**
**Cash at bank**
Bank operating account
Bank deposit account
**8**
**Creditors: liabilities falling due within one year**
Grant obligations
Hall hire payable
Pension contributions payable
Accruals|Equipment
Total
and fittings
2021
£
£
5,483
5,483
-
-
-
-|
|---|---|
||5,483
5,483|
||3,700
3,700
999
999
-
-|
||4,699
4,699|
||785
785|
||1,783
1,783|
||2021
2020
£
£
184,083
229,813
50,962
50,851|
||235,045
280,664|
||2021
2020
£
£
-
5,275
15,371
-
1,165
-
2,100
2,100|
||18,636
7,375|
Page 12
## **GRACE CHURCH, CAMBRIDGE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## **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|11,007|2,770|(3,665)|-|10,112|
|Training fund|12,960|-|-|-|12,960|
||23,967|2,770|(3,665)|-|23,072|
|_General Unrestricted Funds_|164,913|202,220|(202,538)|(4,944)|159,651|
|Total Unrestricted Funds|188,880|204,990|(206,203)|(4,944)|182,722|
|_Restricted Funds_||||||
|Christians Against Poverty|-|2,400|(7,344)|4,944|-|
|Training Fund|29,652|21,624|(23,955)|-|27,321|
|NCA School maintenance fund|800|-|-|-|800|
|Northstowe Plant|55,741|6,515|(55,906)|-|6,350|
|Total Restricted Funds|86,193|30,539|(87,204)|4,944|34,472|
|The assets and liabilities represented by the various funds are as follows at 31 December|||2021:|||
||Fixed|Bank & cash|Other net|Total||
||assets|balances|assets|||
||£|£|£|£||
|Restricted funds|-|34,472|-|34,472||
|Unrestricted funds|785|200,573|(18,636)|182,722||
||785|235,045|(18,636)|217,194||
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:
||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|0|-|800|
|Trainee Church Planter Fund|-|4,512|(4,512)|-|-|
|Northstowe Plant|47,282|52,249|(43,789)|-|55,741|
||74,484|89,416|(81,696)|3,989|86,193|
|The assets and liabilities represented by the various funds were 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)|275,072||
Page 13
## **GRACE CHURCH, CAMBRIDGE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
- **10 Transactions with related parties** During the year the charity:
- a) received donations totalling £59,124 (2020: £81,069) funded by related parties (which includes trustees and anyone closely connected).
- b) paid expenses of £nil (2020: £nil) to, or for, the trustees.
Except as disclosed in note 5 'Analysis of staff costs', there have been no other transactions with related parties during the year.
## **11 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 2021**
|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
2021
2020
2021
2020
2021
2020
2021
2020
£
£
£
£
£
£
£
£
196,559
210,457
2,770
12,807
30,539
89,356
229,868
312,620
110
198
-
-
-
-
110
198
4,769
270
-
-
-
-
4,769
270
781
1,115
-
-
-
60
781
1,175
Unrestricted Funds - General
Unrestricted Funds - Designated
Restricted Funds|
|---|---|
||202,220
212,039
2,770
12,807
30,539
89,416
235,529
314,262
202,538
171,059
3,665
1,800
87,204
81,696
293,408
254,555|
||202,538
171,059
3,665
1,800
87,204
81,696
293,408
254,555|
||(318)
40,980
(895)
11,007
(56,665)
7,720
(57,879)
59,708
(4,944)
(3,989)
-
-
4,944
3,989
-
-|
||(5,262)
36,991
(895)
11,007
(51,722)
11,709
(57,879)
59,708|
||164,913
127,921
23,967
12,960
86,193
74,484
275,073
215,365|
||159,651
164,913
23,072
23,967
34,472
86,193
217,194
275,073|
Page 15