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← Grace Church, Cambridge

2024-12-31-accounts

Grace Church, Cambridge

Report and Accounts Year ended 31 December 2024

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

GRACE CHURCH, CAMBRIDGE FOR THE YEAR ENDED 31 DECEMBER 2024

CHARITY INFORMATION

Trustees Mr M Borg Mr R Dobson Mrs F Doel Dr D Roberts Mr M Rowland Mr S Garry Mr G Dalzell (Resigned 14 April 2025) Mrs J Rigby (Resigned 14 April 2025) Mr B Beaton (Appointed 6 January 2025 Governing Document CIO - Foundation Conversion dated 21 September 2020 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 - 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10 - 14
Detailed Statement of Financial Activities with Comparatives 15

Page 1

GRACE CHURCH, CAMBRIDGE

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

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

Grace Church Cambridge continued to meet its objectives as a charity in 2024 to advance and practise the Christian faith through the weekly activities of the church, supporting a local secondary school with family and student engagement, spiritual and relational support for the elderly, and care for international visitors to Cambridge

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

Grace Church has held weekly Sunday services for the regular congregation and guests, as well as weekly small group meetings for Bible study, discussion, support, and prayer. We also held in-person and online prayer meetings and monthly church family meetings. Pastoral care was also provided by a range of staff and volunteers across the church.

Other regular discipleship groups

Grace Ladies

This is a group of about 20 women of all ages, meeting weekly to read the Bible, pray and socialise together.

Men of Grace

Each month, a group of about 15 men gets together to share testimonies, pray, and consider how the Bible applies to certain areas of life.

Theology book group

This group read J.I. Packers ‘Knowing God over the first half of 2024, engaging in an online discussion forum as well as several in-person events.

A particular encouragement for us as a church in 2024 was being able to celebrate seven baptisms of individuals from a range of ages and backgrounds. We are thankful to God for his work in their lives, and were delighted to welcome visitors and guests to each of these services.

Our main meetings continued to take place in North Cambridge Academy, despite the redevelopment of the school’s main hall. We were thankful for both the temporary provision of the school’s café space and the additional help from volunteers, which enabled us to continue running our services in a new environment.

A new ministry at Grace has also included the caring for and discipling of students who have started attending Grace through student meals and church family care, alongside the provision of one-on-one Bible studies and prayer support.

Page 2

GRACE CHURCH, CAMBRIDGE

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

We have also seen several significant staffing changes: the resignation of our community worker and the appointment of a new part-time administrator. As a church, we were pleased to vote for the creation of a new parttime role to support our expanding international ministry, which will begin in January 2025.

As a church, investing in ongoing training to equip people for more effective service remains a long-term priority. We were therefore delighted to partner with a range of training institutions by providing financial support to individuals studying part-time, including Training for East Anglian Ministry (TEAM), Biblical Counselling UK, Crosslands Seminary, and Oak Hill Theological College.

Finally, we have been grateful to continue using the church’s designated fund for hardship to support several individuals within and outside the church who have encountered financial difficulties. We are grateful to our members for their generosity, which has enabled us to establish this fund and make this ministry possible.

Ministry Teams

Community Outreach

Throughout 2024 a team of volunteers, led by church staff, engaged in several service opportunities to address some of the needs of local people. This has included regular in-community meetings, as well as occasional events.

In March 2023, our employed community worker resigned from her post, following a long-term illness, and a leave of absence for six months prior to her resignation. During her leave of absence, the volunteer community team continued with the established programme of Cup and Chat, providing a weekly drop-in space in a community café for local people, particularly serving those who suffer from poor mental health, health conditions, poverty, and learning needs. The weekly Cup and Chat programme came to an end in April 2024, as church staff and volunteers involved were redeployed to other community projects, including the Manor Care Home café, and at North Cambridge Academy, the local secondary school. However, termly outings took place to enable relationships to continue, and attendees were taken to a local park for a summer walk, and were presented with gift hampers at Christmas.

Occasional events in the local area included assisting the North Cambridge Community Partnership (NCCP) with an Easter trail for local families, with over 100 children in attendance, and also running an Advent craft morning in partnership with the NCCP for local families, with decorations made for the community Christmas light switch-on.

Grace Church regulars participated in the Arbury Carnival, taking part in the parade and providing a stall with craft activities for children, games, and space for chat and discussion. We also provided, in conjunction with the carnival committee, a flag-making activity for children taking part in the parade.

Page 3

GRACE CHURCH, CAMBRIDGE

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

Serving within North Cambridge Academy

Grace Church has developed a partnership with North Cambridge Academy, the school in which the church meets on Sundays, enabling the people of the church to meet various needs of the school community.

A team of volunteers run the school’s Community Hub Café on a weekly basis, providing drinks and snacks to any pupils, parents and staff who come to the after-school café on Wednesdays. Grace members also process donations of second-hand uniform, which are then distributed to families through the Café.

Members of the Grace staff team were invited and have delivered RE lessons to the Year 7 cohort on the meaning of Christmas. Extra-curricular learning has also been supported as Grace members have taken part in supervising students on ‘Flatpack’ learning days and leading mock interviews.

As an act of support for the staff team at North Cambridge Academy, Grace Church organises a termly ‘cake drop’ of gifted cakes for teaching and support staff, which has been greatly appreciated.

Care Home Ministry

A team of 6-8 staff and volunteers from Grace Church has been holding services in Cambridge Manor Care Home on alternate Sundays since Grace Church was founded in 2012. It has been a joy to see new residents and staff at the care home enjoying these traditional services on a regular basis. The attendance of these services has been a great encouragement as we have consistently filled the piano room with residents, staff and family members who very much appreciate these times together. In addition to the alternate Sunday services, we also now provide a drop-in coffee and chat for the residents on alternate Mondays. This is run by a smaller team of 3-4 staff, who have enjoyed building relationships with the staff and residents (and their family members) at these Monday meetings.

Children and Youth

Children aged 0-11 have the opportunity to attend weekly Grace Kids classes as part of our weekly service. Volunteers are DBS checked, and provide a safe, friendly and fun environment for children to learn about what the Bible teaches and how it applies to our lives. Parents are supported to engage with their children about what they are learning through weekly information sheets.

Our Grace Kids volunteer team are supported through a programme of review and training sessions. There has been a continued focus on supporting volunteers to take on new areas of responsibility within lesson preparation and delivery.

A new Sunday evening discipleship group for our 9-13 year olds was established in September 2024. This group meets fortnightly with a team of 4 adults, for a meal together, games, and time to study the Bible, applying biblical principles to daily life. This group has provided a safe space for young people to discuss questions about growing up, relationships and participating in community.

Our Teens group have fortnightly meetings, including a meal and time spent looking at the Bible. These sessions have been significant in building strong interpersonal relationships and in helping our young people think biblically about living out their faith. The teens group had a weekend away in March 2024, which was well attended and gave an opportunity for extended teaching and reflection. A number of teens meet one-to-one with adult mentors to read the Bible and apply learning to daily life.

We have provided opportunities to serve local families, including a community Easter Family Fun afternoon, with Easter egg hunt, crafts, games and a short Easter talk, and Advent craft activities. We have also invited local families to a Family Carol Service and a guest service specifically tailored for people new to church.

Page 4

GRACE CHURCH, CAMBRIDGE

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

Supporting International visitors to Cambridge

Grace church has a long history of helping international visiting scholars, families and friends. We provide free English classes on Mondays (in person) and Tuesdays (online). We run Bible discussion groups in simple English on Mondays, Tuesdays and Fridays. In conjunction with Friends International, we host an annual 8-week evening course introducing Christianity, specifically for international visitors to Cambridge. We have also provided support for some internationals staying in Cambridge at various times through one-to-one meetings, outings and social activities. In 2024, this included helping to lead a week-long trip to Cornwall for 12 international guests. Finally, we make a concerted effort to welcome and include international visitors at our Sunday morning church services.

Christmas Carol Service at the Round Church

For the last three years, Grace has held carol services in the centre of Cambridge in the historic Round Church building. This has been a great and intimate venue for members of the public to come and sing traditional carols by candlelight and hear the message of Christmas. We were delighted this year to be able to continue to hold two services (an afternoon and evening service) to enable as many guests to attend as possible. We had people attend from all over Cambridge and from different backgrounds and faiths wanting to ask questions about what Christians really believe about Christmas. We continue to be grateful to St Andrew the Great church for the use of the building and hope to be able to continue to do more of these evangelistic events in the future.

National and international financial support

Grace Church also provided financial support to several Christian organisations in the UK in 2024 and to church partners living and working in Romania, Greece, Manchester, East Asia, 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 £276,424 (2023: £239,229) and expenditure was £234,241 (2023: £247,423) to give a net surplus of £42,183 (2023: deficit of £8,195). The unrestricted cash balance at 31 December 2024 is £175,837 (2023: £158,632). This is a solid basis to continue the growth of the Church in the local community. The trustees 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 £175,837 at 31 December 2024. 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 5

GRACE CHURCH, CAMBRIDGE

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

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:

Matthew K Borg ---------------------------------------------------------------Matthew K Borg (Jul 24, 2025 18:15:49 GMT+1) M Borg Jul 24, 2025 Date: _______

Page 6

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 2024 on pages 8 to 15 following, which have been prepared on the basis of the accounting policies set out on pages 10 to 11.

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

Archie McDowall (Aug 14, 2025 14:53:02 GMT+1)

Archie McDowall BA CA Date: Aug 14, 2025 Institute of Chartered Accountants of Scotland

Stewardship 1 Lamb's Passage London, EC1Y 8AB

Page 7

GRACE CHURCH, CAMBRIDGE

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

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
10
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
10		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2024
2023
£
£
£
£
201,724
61,585
263,309
229,128
3,830
-
3,830
501
8,368
-
8,368
7,608
918
-
918
1,992
214,839
61,585
276,424
239,229
194,998
39,244
234,241
247,423
194,998
39,244
234,241
247,423
19,842
22,341
42,183
(8,195)
378
(378)
-
-
20,220
21,963
42,183
(8,195)
155,068
31,044
186,112
194,306
175,288
53,007
228,295
186,112

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

The notes on page 10 to 14 form part of these accounts.

Page 8

GRACE CHURCH, CAMBRIDGE

BALANCE SHEET

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors
7
Cash at bank
8
CURRENT LIABILITIES
Liabilities falling due within one year
9
Net current assets
NET ASSETS
FUND BALANCES
Unrestricted funds
General funds
10
Designated funds
10
Restricted funds
10		 Unrestricted
Restricted
Total funds
Total funds
Funds
Funds
2024
2023
£
£
£
£
776
-
776
2,116
776
-
776
2,116
6,978
-
6,978
-
175,837
53,113
228,950
189,955
182,815
53,113
235,927
189,955
8,304
106
8,409
5,960
174,511
53,007
227,518
183,995
175,288
53,007
228,295
186,112
166,462
-
166,462
146,112
8,826
-
8,826
8,956
-
53,007
53,007
31,044
175,288
53,007
228,295
186,112

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

Matthew K Borg Matthew K Borg (Jul 24, 2025 18:15:49 GMT+1) --------------------------------------M Borg Jul 24, 2025

Charity number: 1150034

The notes on page 10 to 14 form part of these accounts.

Page 9

GRACE CHURCH, CAMBRIDGE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

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:

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 10

GRACE CHURCH, CAMBRIDGE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

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 £1,000 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
2024
2023
£
£
£
£
Donations
198,651
61,585
260,236
229,128
Tax recoverable
3,072
-
3,072
-
201,724
61,585
263,309
229,128
4
Charitable activities
Unrestricted
Restricted
Total
Total
Funds
Funds
2024
2023
a
Direct Charitable Costs
£
£
£
£
Salaries, travel and expenses
Note 5
114,563
18,422
132,984
149,180
Venue Hire and other hire costs
17,537
-
17,537
19,830
Church activity costs
12,905
-
12,905
22,928
Training
2,106
8,047
10,153
7756
Depreciation
1,340
-
1,340
1,340
Grants payable
Note 4c
39,854
12,775
52,629
39,693
188,304
39,244
227,548
240,727
b
Support & Administration
£
£
£
£
Independent Examination fee
2,280
-
2,280
2,184
Insurance
810
-
810
784
Professional services and support costs
3,603
-
3,603
3,728
6,693
-
6,693
6,696
Combined charitable activity cost
194,998
39,244
234,241
247,423
c
Grants
Institutions
Individuals
2024
2023
£
£
£
£
Missionary support
50,359
-
50,359
37,577
Relief of poverty
-
2,270
2,270
2,115
50,359
2,270
52,629
39,693
The charity's principal grants to institutions comprised:
8,300
5,500
2,795
2,184
2,569
5,334
18,920
17,720
12,320
-
-
1,515
OMF
FIEC
Acts 29
SIM International
*Emmanuel Church Northstowe
FIEC Europe
Romania Missions
5,454
5,399
50,359
37,653
In addition to the fees payable for the preparation and examination of the accounts, the charity paid £826 (2023: £929) to Stewardship for
payroll bureau and consultancy services.		 Unrestricted
Restricted
Total
Total
Funds
Funds
2024
2023
£
£
£
£
198,651
61,585
260,236
229,128
3,072
-
3,072
-		 Unrestricted
Restricted
Total
Total
Funds
Funds
2024
2023
£
£
£
£
198,651
61,585
260,236
229,128
3,072
-
3,072
-
201,724
61,585
263,309
229,128
Unrestricted
Restricted
Total
Total
Funds
Funds
2024
2023
£
£
£
£
114,563
18,422
132,984
149,180
17,537
-
17,537
19,830
12,905
-
12,905
22,928
2,106
8,047
10,153
7756
1,340
-
1,340
1,340
39,854
12,775
52,629
39,693
188,304
39,244
227,548
240,727
£
£
£
£
2,280
-
2,280
2,184
810
-
810
784
3,603
-
3,603
3,728
6,693
-
6,693
6,696
194,998
39,244
234,241
247,423
50,359
2,270		 52,629
39,693
8,300
5,500
2,795
2,184
2,569
5,334
18,920
17,720
12,320
-
-
1,515
5,454
5,399
50,359
37,653

Page 11

GRACE CHURCH, CAMBRIDGE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5
Analysis of staff costs
Salaries
National insurance
Pension costs
Staff expenses (including accommodation rental costs)
Total staff costs		 2024
2023
£
£
86,370
106,645
2,690
4,087
4,354
7,679
39,571
30,769
132,984
149,180

The average monthly number of employees during the year was 3.4 (2023: 4.5). 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 2024
employment pension Totals
benefits contributions
Trustees: £ £ £ £
Robert Dobson 28,942 - 2,270 31,212
Stewart Garry 36,141 - 897 37,038
68,250

The following amounts were payable in the previous year:

following amounts were payable in the previous year:
Salaries Other Employer 2023
employment pension Totals
benefits contributions
Trustees: £ £ £ £
Graham Beynon (until 1 June 2023) 20,063 - 1,978 22,041
Robert Dobson 29,419 - 2,318 31,737
Stewart Garry 30,430 - 726 31,155
84,933

In addition the charity incurred expenditure in respect of the customary provision of accommodation to Stewart Garry as well as Robert Dobson amounting to £12,414 (2023: £12,389) and £21,600 (2023: £12,600) respectively, who are both 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.

6 Tangible fixed assets

Tangible fixed assets
Cost
At 1 January 2024
At 31 December 2024
Accumulated depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 1 January 2024
Debtors
Trade receivables
Gift aid recoverable
Other debtors
Cash at bank
Bank operating account
Bank Savings account		 Equipment
Total
and fittings
2024
£
£
9,504
9,504
9,504
9,504
7,387
7,387
1,340
1,340
8,727
8,727
776
776
2,116
2,116
2024
2023
£
£
2,756
-
1,422
-
2,800
-
6,978
-
2024
2023
£
£
124,609
89,445
104,341
100,511
228,950
189,955

7 Debtors

8 Cash at bank

Page 12

GRACE CHURCH, CAMBRIDGE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9 Creditors: liabilities falling due within one year
Creditors: liabilities falling due within one year
Hall hire payable
Other creditors
Pension contributions payable
Accruals		 2024
2023
£
£
2,608
1,105
1,173
972
2,348
1,700
2,280
2,184
8,409
5,960

10 Funds

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

Designated Funds
Hardship fund
Training fund
Events and projects
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Training Fund
NCA School maintenance fund
Northstowe Plant
Romania Missions
Ukraine
Walkers
Total Restricted Funds		 Opening
Incoming
Outgoing
Transfers
Closing
balance
resources
resources
balance
2024
2024
2024
2024
2024
£
£
£
£
£
8,956
-
(2,270)
-
6,686
-
800
-
-
800
-
8,368
(7,028)
-
1,340
8,956
9,168
(9,298)
-
8,826
146,112
205,672
(185,700)
378
166,462
155,067
214,839
(194,998)
378
175,288
17,642
59,722
(26,469)
-
50,895
800
-
-
-
800
12,602
96
12,320
-
378
-
-
-
541
(454)
-
87
-
181
-
-
181
-
1,044
-
-
1,044.38
31,044
61,585
39,244
-
378
-
53,007

The assets and liabilities represented by the various funds are as follows at 31 December 2024:

Restricted funds
Unrestricted funds		 Fixed Bank & cash
Other net
Total
assets
balances
assets
£
£
£
£
-
53,113
(106)
53,007
776
175,837
(1,326)
175,288
776
228,950
(1,432)
228,295

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

The restricted NCA School maintenance fund comprises donations given towards the maintenance costs of the school where the church meets.

The restricted Northstowe Plant fund comprises donations given towards the establishment of a new church in Northstowe. The fund closed after final payment was made during the year.

The restricted Romania Missions fund was set up as a category to record our support to Adulum Church in Romania The restricted Ukraine fund was a once-off appeal in response to the crisis when the invasion first took place. The restricted Walker fund comprise donations given towards support for our mission partners.

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

Designated Funds
Hardship fund
Training fund
Events and projects
General Unrestricted Funds
Total Unrestricted Funds		 Opening
Incoming
Outgoing
Transfers
Closing
balance
resources
resources
balance
2023
2023
2023
2023
2023
£
£
£
£
£
9,556
-
(600)
-
8,956
12,960
-
-
(12,960)
-
-
7,608
(8,542)
934
22,516
7,608
(9,142)
(12,026)
8,956
151,467
192,439
(205,150)
7,356
146,112
173,983
200,047
(214,292)
(4,670)
155,068

Page 13

GRACE CHURCH, CAMBRIDGE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10 Funds (cont.)

Funds (cont.)
Restricted Funds
Training Fund
NCA School maintenance fund
Northstowe Plant
Romania Missions
Ukraine
Walkers		 6,015
37,344
(25,716)
-
17,642
800
-
-
-
800
12,265
338
-
-
12,602
1,220
1,000
(5,399)
3,179
-
24
-
(1,515)
1,491
-
-
500
(500)
-
-
20,324
39,181
(33,131)
4,670
31,044

The assets and liabilities represented by the various funds were as follows at 31 December 2023:

Restricted funds
Unrestricted funds		 Fixed Bank & cash
Other net
Total
assets
balances
assets
£
£
£
£
-
31,323
(279)
31,044
2,116
158,632
(5,682)
155,067
2,116
189,955
(5,960)
186,112

b) paid rent of £21,600 (2023: £12,600) to trustee, R Dobson, for use of a property owned by Mr Dobson for church accommodation.

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

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 2024

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 gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
10		 Total
Total
Funds
Funds
2024
2023
2024
2023
2024
2023
2024
2023
£
£
£
£
£
£
£
£
192,556

182,338
9,168
7,608
61,585
39,181

263,309
229,128
3,830
501
-
-
-
-
3,830

501
8,368
7,608
-
-
-
-
8,368
7,608
918
1,992
-
-
-
-
918
1,992
Unrestricted Funds - General
Unrestricted Funds - Designated
Restricted Funds
205,672
192,439
9,168
7,608
61,585
39,181
276,424
239,229
185,700
205,150

9,298
9,142
39,244
33,131
234,241
247,423
185,700
205,150
9,298
9,142
39,244
33,131
234,241
247,423
-
-
-
-
-
-
-
-
19,972
(12,711)
(130)
(1,534)
22,341
6,051
42,183
(8,195)
378
7,356
-
(12,026)
(378)
4,670
-
-
(20,350)
(5,355)
(130)
(13,560)
21,963
(10,721)
(42,183)
(8,195)
146,112
151,467
8,956
22,516
31,044
20,324
186,112
194,306
166,462
146,112
8,826
8,956
53,007
31,044
228,295
186,112

Page 15