2021-07-31-accounts

Grace Church Haywards Heath

Report and Accounts for the year ended 31 July 2021

GRACE CHURCH HAYWARDS HEATH

FOR THE YEAR ENDED 31 JULY 2021

COMPANY INFORMATION

Directors/Trustees

Luke Thomas Jonathan Hobbs Alexander Browning (resigned 6th November 2021) Victoria Ardran Thomas Burstow (appointed 1 October 2021)

Governing Document Memorandum and Articles of Association Company Registration Number 8591570 Charity Registration Number 1153108 Registered Office 1 Kingfisher Drive Haywards Heath West Sussex RH16 4TX

Independent Examiner

Archie McDowall Stewardship 1 Lamb's Passage LONDON EC1Y 8AB

Bankers

Lloyds Bank plc 99-101 South Road Haywards Heath RH16 4ND

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	9-15

Page 1

GRACE CHURCH HAYWARDS HEATH

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 JULY 2021

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

Objects of the charity

Our charity’s objective, as set out in the objects contained in the company’s memorandum and articles of association, is, for the public benefit, to advance the Christian faith in accordance with the Statement of Beliefs in Haywards Heath and Mid Sussex and in such other parts of the United Kingdom and the world as the Trustees may from time to time think fit.

Government

The policy and operating decisions of the charity rest with the Directors who meet regularly to monitor the activities of the Company.

Review of Activities

The charity undertakes the following activities to further this objective:

• Teaching the Bible in church services, and at other church meetings.

• Providing opportunities for prayer in many different contexts.

• Providing pastoral care and biblical counselling.

• Providing opportunities for people to investigate the Christian faith.

• Providing general support to any who need it.

A particular focus of the charity has been to serve the community within Bolnore Village, having deliberately chosen to meet there so that it might benefit from having its own church. Alongside our weekly services there, we have for many years continued to run a monthly Messy Church, two weekly youth clubs, and advertise these and other meetings through leaflet drops in the area. A number of people from the village as well as wider Haywards Heath are benefiting from other church activities including participating in mid-week community groups and courses investigating the Christian faith.

Over the year many of our meetings and activities have been more limited and/or online to ensure the safety of those participating, including to meet changing legislative restrictions arising from the coronavirus outbreak. For much of the year there has been the opportunity to attend our weekly services in person at least once per fortnight, other than when legislative restrictions prevented this, and throughout the year our weekly services were live-streamed via Zoom with a recording subsequently made available on YouTube. Many of our other regular meetings have continued online over the year, with only occasional in-person meetings. From mid-July 2021 the restriction on the number of people attending our weekly services was removed and from September 2021 most of our other regular meetings have resumed in-person, although the opportunity to join online has remained in a number of cases.

No targets have been set e.g. in respect of numbers attending services or other meetings. However the elders are also encouraged by signs of spiritual growth in the church members and a number of newcomers over the last year.

Page 2

Our plans for the future are to continue to minister to the Haywards Heath and Bolnore area through the running of services, courses, other groups and engagement with the community. We will look for further opportunities to grow in number and to deepen in faith.

Many of the activities of the church were wholly or partially run by volunteer church members. The trustees are very grateful for the dedicated service of so many church members in this regard.

How our activities deliver public benefit

Our church meetings are open to all whatever their age, background or faith. We offer courses and one-off events for those investigating the Christian faith. There is a youth group held once a week that involves social interaction for secondary-aged young people, as well as Bible study and prayer. Community groups are held throughout the week and are open to all adults, providing an opportunity for Bible study, mutual support and encouragement, and prayer. Groups are run during the Sunday service for primary-aged children with games, craft activities and Christian teaching. We also run a youth club for Key Stage 2, and members of our staff team take occasional assemblies at the village primary school as well as helping with some school activities. We occasionally host purely social events where all are welcome. We have offered the CAP Money course to those who would value it, and our minister provides some support to staff at the local school. Most of these meetings have continued over the year, but often online rather than in-person. Whilst our activities have been more limited this year due to restrictions, there are also a number of other events that we have run in the past and hope to resume over the coming year.

The church’s website includes resources such as sermon recordings for those who are unable to attend the Sunday services and, since March 2020, recordings of our full Sunday services have been available on YouTube.

Pastoral care is available for anyone, whether a church member or not, who would like to discuss difficult situations in confidence with the church minister. This is advertised on the church website. Over the last year our elders have been involved in supporting those suffering difficulties with work, financial hardship, family members, and marriage, as well as those struggling with mental illness and longer term physical illness. The church minister also represents the church as a governor at the local primary school.

Other than small charges to cover costs, no charge is made for any service provided by the church.

We have been pleased to note a large number of different nationalities and backgrounds represented within the church membership and those attending services.

In planning the activities the Directors have had regard to the guidance on public benefit issued by the Charity Commission in December 2008.

Page 3

Financial Review

Incoming resources in 2020-21 totalled £113,856 (2019-20: £108,801). Of the £113,856 income in 2020-21, £95,993 (84%) was donated by church members (2019-20: £96,037 (88%) of £108,801). Additionally £11,300 was donated by the Sussex Gospel Partnership in recognition of Jonathan Hobbs’ time spent on training and development for the Partnership and £6,500 was donated by trusts towards the cost of our assistant minister, with the remainder being contributions to the cost of church events. The total resources expended for the period was £91,013 (2019-20: £100,055), of which £69,194 (76%) were staff-related costs (2018-19: £73,193 (73%)). The Covid-19 pandemic has not had a material impact on the church's finances, with no significant change in giving as a result of the pandemic and slightly reduced expenditure.

The contract of the church’s trainee minister, Daniel Woodfield, ended in August 2021 and the church has employed an assistant minister, Thomas Vaughan, on a four-year contract from September 2021. There have been greater changes than usual in giving as pledges over the period of Daniel Woodfield’s contract ended and new pledges, many beginning in October 2020 following a Gift Day, were made with a view to the church employing a new assistant minister, who has now been appointed as detailed above.

Reserves Policy

The charity’s reserves at the balance sheet date were £87,060 (2020: £64,217), almost all of which was cash at bank. Of these reserves, £8,750 (2020: £9,000) were restricted funds in relation to the charity's hardship fund. The Directors have set a policy of seeking to maintain three months’ expenditure as general reserves and have complied with this policy throughout the year.

Risk Statement

The Directors 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.

Directors' Responsibilities

Charity law requires us as Directors to prepare financial statements for each accounting year which give a true and fair view of the state of the charity and of its income and expenditure for the year.

1. Select suitable accounting policies and apply them consistently

2. Make judgements and estimates that are reasonable and prudent

3. State whether the applicable accounting standards have been followed, subject to any

material departures disclosed and explained in the accounts.

1. Prepare the financial statements on a going concern basis unless it is inappropriate to

presume that the charity will continue in business.

We are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable us to ensure that the financial statements comply with the Companies Act 2006.

We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.

Page 4

Approval

This report was approved by the Directors on 29 January 2022 and signed on their behalf by:

Luke Thomas

Page 5

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

GRACE CHURCH HAYWARDS HEATH ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2021on pages 6 to 15 following, which have been prepared on the basis of the accounting policies set out on pages 9 and 10.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 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 Company as required by section 386 of the 2006 Act; or

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

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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

8 February 2022

For and on behalf of: Stewardship 1 Lamb's Passage London EC1Y 8AB

Page 5

GRACE CHURCH HAYWARDS HEATH

Statement of Financial Activities

FOR THE YEAR ENDED 31 JULY 2021

Summary Income and Expenditure Account

Note INCOME FROM Donations and legacies 2 Investments Other income Total income EXPENDITURE ON Charitable activities 3 Total expenditure Net Movement in Funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2020 £ £ £ £ 113,793 - 113,793 107,337 13 - 13 103 50 - 50 1,361
	113,856 - 113,856 108,801 90,763 250 91,013 100,055
	90,763 250 91,013 100,055
	23,093 (250) 22,843 8,746 55,217 9,000 64,217 55,471
	78,310 8,750 87,060 64,217

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

The notes on page 9-15 form part of these accounts.

Page 6

GRACE CHURCH HAYWARDS HEATH

BALANCE SHEET

FOR THE YEAR ENDED 31 JULY 2021

Note FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank 9 CURRENT LIABILITIES Liabilities falling due within one year 10 Net Current Assets NET ASSETS FUND BALANCES Unrestricted funds 12 General Funds Restricted Funds 12	Unrestricted Restricted Total funds Total funds Funds Funds 2021 2020 £ £ £ £ 1,115 - 1,115 684
	1,115 - 1,115 684 300 444 744 1,471 78,877 8,306 87,183 63,249
	79,177 8,750 87,927 64,720
	1,982 - 1,982 1,187
	77,195 8,750 85,945 63,533
	78,310 8,750 87,060 64,217
	78,310 - 78,310 55,217 - 8,750 8,750 9,000
	78,310 8,750 87,060 64,217

For the year ended 31 July 2021, the company was entitled to the exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

Responsibilities of directors/trustees:

• a. The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with Section 476 of the Companies Act - however, in accordance with Section 145 of the Charities Act 2011 the accounts have been examined by an independent examiner whose report forms part of this document.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Directors and signed on their behalf on the 29 January 2022 by:

Luke Thomas Company number: 8591570 Charity number: 1153108

The notes on page 9-15 form part of these accounts.

Page 7

GRACE CHURCH HAYWARDS HEATH

Notes to the Accounts

FOR THE YEAR ENDED 31 JULY 2021

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company 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"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

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

a) Going concern

The trustees (who are the charitable company's directors for the purposes of company law) 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. In making this assessment the trustees have considered how Covid-19 might affect projections.

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) Donated facilities, services and goods. Goods donated for distribution to beneficiaries are recognised as income when receivable at fair value (being an estimate of the amount it would cost to purchase those items). Facilities, services and goods donated for the charity's own use are recognised as income when receivable at their value to the charity.

The charity relies on volunteers to carry out many of its activities. 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.

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

Other income 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.

Page 8

GRACE CHURCH HAYWARDS HEATH

Notes to the Accounts

FOR THE YEAR ENDED 31 JULY 2021

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.

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of

Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Over 50 years after taking account of the building's residual value Leasehold improvements Over the lease term or, if shorter, expected useful life Equipment Over 2 to 5 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.

g) Investments

• Fixed asset investments are held to generate income and / or for their investment potential. Current asset investments are i) Listed investments are valued at their market value (fair value) at the balance sheet date. ii) Unlisted investments are measured at cost less impairment where it becomes apparent that the amount that could be realised is less than cost.

Social investments are investments where the primary motive is to further the charity's objects, not to generate an investment

• i) concessionary loans. These are initially recognised as the amount paid and thereafter the carrying value at every balance sheet date is adjusted for repayments, interest charges and provisions for impairment if the amount owed may not be fully recoverable.

Mixed motive investments are investments that are held both to generate a financial return and to contribute to the furtherance of the charity's objects.

Impairment losses and losses arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Expenditure on charitable activities'. Gains arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Other income'. All other gains and losses on investment assets are included in the Statement of Financial Activities under the heading 'Net gains / (losses) on investments'.

Page 9

GRACE CHURCH HAYWARDS HEATH

Notes to the Accounts

FOR THE YEAR ENDED 31 JULY 2021

h) 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.

i) Taxation The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

• j) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).

k) Foreign currency translation

These financial statements are presented in sterling, which is the charity's functional currency.

• i) Income and expenditure denominated in a foreign currency is translated into sterling at the exchange rate prevailing on the date of the transaction.

• ii) Monetary assets and liabilities denominated in a foreign currency are re-translated at the exchange rate prevailing at the balance sheet date.

• iii) Non-monetary assets are measured at historic cost at the rate of exchange prevailing on the date of the transaction and are not subsequently re-translated.

All differences arising from the application of the above policy are charged (or credited) to the Statement of Financial Activities.

• l) 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.

• m) Critical accounting estimates and areas of judgement The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

• ln preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts i) The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current circumstances.

• ii) The constructive obligation for grants payable is based on an assessment of the likely duration of the supported activity. Again this estimate is re-assessed annually and the obligation is adjusted to reflect current expectations.

3 Voluntary income

ntary income General donations Tax recoverable Sussex Gospel Partnership Trusts	Total Total 2021 2020 £ £ 82,537 80,756 13,456 15,281 11,300 11,300 6,500 0
	113,793 107,337

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GRACE CHURCH HAYWARDS HEATH

Notes to the Accounts

FOR THE YEAR ENDED 31 JULY 2021

4	Charitable activity		Total	Total
			2021	2020
a	Direct Charitable Costs		£	£
	Staff costs		47,213	51,392
	Venue and related costs		25,259	26,510
	Training costs		2,554	3,421
	Church events		178	918
	Travel		36	111
	Grants payable	Note 3c	9,133	10,657
			84,373	93,009
b	Support & Administration		£	£
	Governance costs		1,080	1,080
	Office and administration		1,412	1,643
	Depreciation		368	404
	Other costs		3,780	3,919
			6,640	7,046
	Combined charitable activity cost		91,013	100,055
c	Grants		2021	2020
			£	£
	Missionary support		8,883	9,657
	Relief of poverty		250	1,000
			9,133	10,657
	The charity's principal grants to institutions comprised:
			£	£
	Fellowship of Independent Evangelical Churches		1,258	1,258
	New Life Church Brighton		3,600	3,600
	Overseas Missionary Fellowship		2,525	2,400
	Sussex Gospel Partnership		1,000	1,000
	Grants to institutions for less than	£1,000 each	500	1,399
			8,883	9,657

Gifts totalling £3,600 and £2,525 over the course of the year were paid to New Life Church Brighton and OMF respectively to support their ministry. Gifts of £250 were paid out to individuals over the year from the Hardship Fund in respect of the relief of poverty

The church supports missionaries in the UK and internationally. Where a particular missionary has been supported by the church for a number of years, strict compliance with the Charities' Statement of Recommended Practice (SORP) may suggest some arrangements as constituting constructive obligations such that future years' support is accounted for in these accounts as a liability. Whilst the support has no final end date in some cases, the church officers assess missionary funding on an annual basis and are confident that they have not communicated a specific commitment nor would missionaries view their support as open-ended obligations by the church.

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GRACE CHURCH HAYWARDS HEATH

Notes to the Accounts

FOR THE YEAR ENDED 31 JULY 2021

5 Staff & Trustees Gross wages, salaries & benefits in kind Employer's National Insurance costs Pension costs Total staff costs	2021 2020 £ £ 44,541 48,265 0 231 2,672 2,896
	47,213 51,392

The charity has 2 full time equivalent employed staff. Its activities are generally carried out by volunteers. No staff received salaries at a rate of more than £60,000 per annum.

Jonathan Hobbs was paid £24,153 (2020: £23,865) in his capacity as minister, and not as a trustee, as permitted by the governing document. The church also paid employer pension contibutions of £1,449 on behalf of Jonathan (2020: £1,432).

During the year employer's pension contributions totalling £2,672 (2020: £2,896) were payable to defined contribution personal pension schemes. No pension contributions were owing at the balance sheet date (2020: £nil).

Fees payable to Stewardship, other than for the annual accounts and independent examination, for payroll bureau services, totalled £627 (2020: £687).

6 Transactions with related parties

During the year the charity:

• a) received donations totalling £30,274 (2020: £24,504) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).

• b) No expenses (2020: nil) were paid to, or for, the trustees whilst carrying out duties associated with being trustees; reimbursements for expenses incurred when acting as agent for the charity or incurred when undertaking employment duties not connected with serving as a trustee are not included in this disclosure.

During the year the charity also made the following payments to, or for, related parties:

• a) Bethan Hobbs, who is the wife of Jonathan Hobbs, who is a trustee, received employment benefits totalling £3,784 (2020: £3,779) in her role as the church's Part-Time Church Assistant.

• b) Jonathan Hobbs, who is a trustee received rent of £18,595 (2020: £18,487) from the charity for a property that is owned and occupied by him. Council tax of £2,742 and water rates of £644 (2020: £2,633 and £682 respectively) were also paid by the charity in respect of this house.

7 Tangible Fixed Assets

Cost At 1 August 2020 Disposals Additions At 31 July 2021 Accumulated Depreciation At 1 August 2020 Charge for the year At 31 July 2021 Net book value At 31 July 2021 At 1 August 2020	Audio Visual Total Equipment 2021 £ £ 3,319 3,319 0 0 799 799
	4,118 4,118
	2,635 2,635 368 368
	3,003 3,003
	1,115 1,115
	684 684

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GRACE CHURCH HAYWARDS HEATH

Notes to the Accounts

FOR THE YEAR ENDED 31 JULY 2021

8 Debtors and Prepayments

8 Debtors and Prepayments
Tax recoverable Loans outstanding 9 Cash at Bank and in Hand Bank operating accounts 10 Creditors: liabilities falling due within one year Accruals	2021 2020 £ £ 300 360 444 1,111
	744 1,471
	87,183 63,249
	87,183 63,249
	1,982 1,187
	1,982 1,187

11 Acting as agent

On occasion the charity receives money on behalf of other charities or individuals, which it banks and then pays out to these charities or individuals. This income is received as agent for these other charities or individuals and the income, and the related payments, are excluded from the Statement of Financial Activities; any money that has not been distributed by the year end is recognised as a creditor.

During the year the charity acted as agent for an individual and, in that capacity: a) received £330 (2020: £nil) and paid £330 (2020: £nil)

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GRACE CHURCH HAYWARDS HEATH

Notes to the Accounts

FOR THE YEAR ENDED 31 JULY 2021

12 Funds

The restricted funds represent amounts received for specific purposes and the movements in the year are as follows:

	Opening	Incoming	Outgoing	Closing
	balance	resources	resources	balance
	£	£	£	£
Hardship fund	9,000	0	(250)	8,750

During the year no donations were received into the hardship fund in respect of the relief of poverty. Gifts of £250 were paid out to individuals over the year from this fund, and loan repayments of £667 were received.

The assets and liabilities represented by the various funds are as follows:

Restricted funds Unrestricted funds	Fixed Bank & cash Other net Total assets balances assets £ £ £ £ - 8,306 444 8,750 1,115 78,877 (1,682) 78,310
	1,115 87,183 (1,238) 87,060

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

	Opening		Incoming	Outgoing	Closing
	balance		resources	resources	balance
	£		£	£	£
OMF		-	129	(129)		-
Open Doors		-	100	(100)		-
Hardship fund	10,000		0	(1,000)	9,000

The amounts in respect of OMF and Open Doors represent amounts received at special offerings taken.

During the year no donations were received into the hardship fund in respect of the relief of poverty. Gifts of £1,000 were paid out to individuals over the year from this fund, and loan repayments of £667 were received.

In the previous year, the assets and liabilities represented by the various funds are as follows:

Restricted funds Unrestricted funds	Fixed Bank & cash Other net Total assets balances assets £ £ £ £ - 7,889 1,111 9,000 684 55,360 (827) 55,217
	684 63,249 (284) 64,217

13 Members

Each member of the company commits to contribute an amount of £1 if the charity is wound up.

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