Grace Church Gateshead
Report and Accounts Year ended 31 December 2023
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1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
GRACE CHURCH GATESHEAD
YEAR ENDED 31 DECEMBER 2023
LEGAL & ADMINISTRATIVE DETAILS
| ADDRESS FOR CORRESPONDENCE | ADDRESS FOR CORRESPONDENCE | 186 Rawling Road |
|---|---|---|
| Gateshead | ||
| Tyne & Wear | ||
| NE8 4QU | ||
| GOVERNING DOCUMENT | CIO - Foundation registered 1 November 2013 | |
| as amended 16 May 2019 | ||
| CHARITY REGISTRATION NUMBER | 1154440 | |
| TRUSTEES | D Martin | |
| D Hewer | ||
| J Merton | ||
| BANKERS | Lloyds TSB | |
| PO Box 1000 | ||
| Andover | ||
| BX1 1LT | ||
| INDEPENDENT EXAMINER | Archie McDowall BA CA | |
| Stewardship | ||
| 1 Lamb's Passage | ||
| LONDON | ||
| EC1Y 8AB | ||
| INDEX | ||
| Page 1 | Legal & Administrative Details | |
| Pages 2-3 | Trustees' Report | |
| Page 4 | Independent Examiner's Report | |
| Page 5 | Receipts | and Payments Account |
| Page 6 | Statement of Assets & Liabilities | |
| Page 7 | Notes to | the Accounts |
Page 1
GRACE CHURCH GATESHEAD
REPORT OF THE TRUSTEES
YEAR ENDED 31 DECEMBER 2023
The Trustees have pleasure in submitting the Report and Accounts for the year.
Objects of the charity
The object of the CIO is, for the public benefit, to advance the Christian faith in Gateshead and in such other parts of the United Kingdom and the world as the charity trustees may from time to time decide.
Government
The policy and operating decisions of the charity rest with the Trustees who meet regularly to monitor the activities of the charity.
New trustees are appointed by the elders of the church/by the Trustees.
Grace Church Gateshead belongs to the following networks of churches: the North East Gospel Partnership locally and the Fellowship of Independent Evangelical Churches nationally.
In May 2019, the charity formally changed its name to Grace Church Gateshead. The CIO constitution remained unchanged.
Review of Activities
In 2023 Grace Church Gateshead has continued to promote the Christian faith in Gateshead. The Trustees have had regard to the Charity Commission's guidance on public benefit, and are pleased to give the following summary of activities.
The church has continued to hold weekly Christian worship services, open to all the public. These have enabled people in the local community to participate in shared Christian worship. The Bible teaching at these Sunday gatherings continues to demonstrate the importance and relevance of the historic Christian faith to life in the present day. In addition, the relationships and sense of community fostered through church life continue to provide a significant means of support for those connected to the church. An accessible toilet was installed within the church building during this past year. A free outdoor Christmas carols event in a local park was co-organised by Grace Church Gateshead in December 2023.
Grace Church Gateshead has continued to promote the Christian faith for the public benefit by holding weekly public Christian worship services, open to all in the community. The church has been a key source of support for many local residents through 2023.
Page 2
Financial Review
The charity's principal source of funding comes from donations made by the church congregation.
Total income in the year was £80,529 (2022: £73,944 ) and expenditure was £91,072 (2022: £51,322) giving a net deficit this year of £10,543 (2022: £22,623). The cash balance brought forward at the beginning of January was £48,429, leaving a closing cash balance of £37,886 of which £35,272 was
Reserves Policy
We aim to hold 6 months of operating expenses in reserve, for crisis and contingencies, which currently equates to £37,700.
At present our unrestricted reserves are £35,272.
Trustees responsibilities
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Approval
This report was approved by the trustees on and signed on their behalf by:
Dan Martin
Dan Martin (Sep 20, 2024 15:46 GMT+1)
D Martin
Sep 20, 2024 Date: ____
Page 3
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
GRACE CHURCH GATESHEAD
I report to the trustees on my examination of the accounts of Grace Church Gateshead ('the charity') for the year ended 31 December 2023 on pages 5 to 7 following.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in accordance with section 130 of the 2011 Act; or
-
the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Archie McDowall
Archie McDowall (Sep 23, 2024 11:52 GMT+1)
Archie McDowall BA CA
Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Sep 23, 2024 Date:
Page 4
GRACE CHURCH GATESHEAD
RECEIPTS AND PAYMENTS ACCOUNT
YEAR ENDED 31 DECEMBER 2023
| Notes Income receipts Donations Total receipts Payments 2 3 Total payments Transfers between funds Net movement in funds Cash funds as at last year end Cash funds at this year end A Net of receipts / (payments) before transfers Grants paid in relation to charitable activities undertaken by others Payments in relation to charitable activities undertaken directly |
General Funds £ 78,529 78,529 75,269 4,154 79,423 (894) - (894) 36,166 35,272 |
Restricted Funds £ 2,000 2,000 11,649 - 11,649 (9,649) - (9,649) 12,263 2,614 |
2023 £ 80,529 80,529 86,918 4,154 91,072 (10,543) - (10,543) 48,429 37,886 |
2022 £ |
|---|---|---|---|---|
| 73,944 | ||||
| 73,944 | ||||
| 51,322 - |
||||
| 51,322 | ||||
| 22,623 - |
||||
| 22,623 25,806 |
||||
| 48,429 |
The notes on pages 7 form part of these accounts.
Page 5
GRACE CHURCH GATESHEAD
STATEMENT OF ASSETS AND LIABILITIES
YEAR ENDED 31 DECEMBER 2023
| A Cash funds Cash at bank B Liabilities Falling due within one year: Mortgage Unbilled fee for Independent Examination Falling due after one year: Mortgage |
General funds £ 35,272 35,272 3,955 840 4,795 21,610 21,610 |
Restricted funds £ 2,614 2,614 - - - - - |
2023 £ 37,886 37,886 3,955 840 4,795 21,610 21,610 |
2022 £ |
|---|---|---|---|---|
| 48,429 | ||||
| 48,429 | ||||
| 3,472 720 |
||||
| 4,192 | ||||
| 24,246 | ||||
| 24,246 |
The mortgage above relates to Grove Chapel, Rawling Road and is repayable over 9 years at £3,955 per year.
C Assets retained for charity's own use
| Fund to which asset belongs Land and buildings - Grove Chapel General Fixtures, furniture and equipment General |
Current value £ |
|---|---|
| 426,983 20,344 |
|
| 447,327 |
The trustees have used insurance values as the trustees are unable to reliably estimate current values; insurance values may differ materially from current values.
D Guarantees and secured debts
The outstanding balance on the charity's mortgage (see Note B) is secured on the charity's property (see Note C).
No guarantees have been made, which result in an outstanding potential liability as at the year-end date.
The accounts were approved by the trustees and signed on their behalf by
Dan Martin
Dan Martin (Sep 20, 2024 15:46 GMT+1) D Martin
Sep 20, 2024 Date:___
The notes on pages 7 form part of these accounts.
Page 6
GRACE CHURCH GATESHEAD
NOTES TO THE ACCOUNTS
YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
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.
| Unrestricted Funds General funds £ 2 Payments in relation to charitable activities undertaken directly Employment costs (Note 4) 49,488 Outreach activities 103 Mortgage repayments 3,955 Repairs & refurbishment 6,148 Utilities 3,016 Fixtures, furniture and equipment 3,534 Insurance 881 Affiliations 1,746 Professional fees 491 Training costs 4,721 Other costs 406 Independent examination 780 75,269 3 Grants paid in relation to charitable activities undertaken by others Grants for: Church Planting 4,154 4,154 |
Restricted Funds £ 8,499 - 3,150 - - - - - - - 11,649 - - |
Total 2023 £ 57,987 103 3,955 9,298 3,016 3,534 881 1,746 491 4,721 406 780 86,918 4,154 4,154 |
Total 2022 £ |
|---|---|---|---|
| 38,315 135 3,472 620 1,258 1,788 815 1,140 155 2,745 158 720 |
|||
| 51,322 | |||
| - | |||
| - |
4 Employees & trustees
The charity has 2 employees (2022: 2 employee). One of the employees is Dan Martin, a trustee, to whom the employment costs above refer. The payments were made to Dan in respect of his role as Pastor, not trustee, and are permitted by the governing documents.
Other than direct reimbursements of expenses made on behalf of the charity, no other amounts were paid or are payable to any trustee or to any person connected to them.
5 Movement on funds
| Opening Balance Receipts £ £ Restricted funds Building Fund 1,150 2,000 Training Fund 11,113 - Total Restricted 12,263 2,000 Unrestricted Funds General Funds 36,166 78,529 Total Unrestricted 36,166 78,529 Total Funds 48,429 80,529 |
Payments £ (3,150) (8,499) (11,649) (79,423) (79,423) (91,072) |
Transfers £ - - - - - |
Closing Balance £ 0 2,614 |
|---|---|---|---|
| 2,614 | |||
| 35,272 | |||
| 35,272 | |||
| 37,886 |
Page 7