**Grace Church Dell Road Registered No. 1155358**
**REPORT & ACCOUNTS**
**for the year ended 31 March 2023**
_"We're all about helping people love Jesus more and more"_
## **GRACE CHURCH DELL ROAD**
## **for the year ended 31 March 2023**
## **LEGAL & ADMINISTRATIVE DETAILS**
## **Address for correspondence**
Grace Church Dell Road 8 Dell Road Cotteridge Birmingham B30 2HZ
## **Governing Document**
Constitution date 16th January 2014
Charitable incorporated organisation registered with the Charity Commission 16th January 2014
## **Charity Registration Number**
1155358
## **Trustees**
Mr Andrew Weatherley (Chairman) Mr Graham Jackson (Resigned 20th July 2022) Mr Nathan Gunn Mr Edward Boothroyd Mr Stuart Ward Mr Peter Grahame (Resigned 6th December 2023) Mr Ben McNeely (Resigned 12th July 2023) Mr Ben Kirsch Mr Joshua Jackson (Appointed 12th July 2023) Mr Samuel Hawkins (Appointed 6th December 2023)
## **Bankers**
Lloyds Bank Cooperative Bank Nationwide Building Society 1846 Pershore Road 118/120 Colmore Row Nationwide House Cotteridge Birmingham Pipers Way Birmingham B3 3BA Swindon B30 3AS SN38 1NW
## **Independent Examiner**
Archie McDowall BA CA Stewardship 1 Lamb's Passage London EC1Y 8AB
## **INDEX**
Page 1 Charity Information Pages 2 to 6 Trustees' Annual Report Page 7 Independent Examiner's Report Page 8 Statement of Financial Activities Page 9 Balance Sheet Pages 10 to 16 Notes to the Accounts Pages 17 Detailed Statement of Financial Activities with Comparatives
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_"We're all about helping people love Jesus more and more"_
## **GRACE CHURCH DELL ROAD**
## **TRUSTEES' ANNUAL REPORT for the year ended 31 March 2023**
## **Structure, Governance & Management**
## _Governing Document_
The Church is a registered charitable incorporated organisation, affiliated to the Fellowship of Independent Evangelical Churches (FIEC).
The Charity Commission granted Registered Charity status on 16[th] January 2014 under registration number 1155358.
For the year ending 31[st] March 2023, the Church was governed by a Church Constitution dated 16[th] January 2014. There is also a Church Covenant which sets out the beliefs and practices of the members and deals with the day-to-day operation of the Church, including the appointment of Elders.
## _Organisational Structure_
The Church is governed by a leadership team (Trustees) comprising all of the Church's Elders and two Deacons of the Church. They meet regularly throughout the year to set policy and review the activities of the Church.
The decisions of the Trustees of the Church are subject to the scrutiny of the members of the Church at business meetings of the Church members which occur at least four times a year.
Significant financial decisions are taken having considered the advice of the members of the Church as required by the Church's governing documents.
The Trustees plan to review the governing structure of the Church in Autumn 2023 and consider changes to the governing documents so that a wider group of people can be appointed as Trustees of the Church.
The Trustees are not remunerated by the Church for their work as Trustees. However, two Trustees, acting in the year to 31[st] March 2023, were remunerated for their work as employed full-time Elders of the Church. The remuneration of Elders is determined in accordance with the Church Constitution and Church Covenant. The remuneration of employed Elders is recommended by the Church's Employment Committee consisting of selected members of the Church and chaired by a Deacon. The remuneration received by Elders is accepted by a vote of the members of the Church on the proposal of the Trustees following their consideration of the recommendations of the Employment Committee. An individual Elder does not participate in the determination of the remuneration they receive, whether directly or indirectly.
## _Recruitment and Appointment of Trustees_
Trustees and Elders of the Church are proposed by the existing Trustees where they have satisfied themselves both of the need for further Trustees, and that the person proposed meets the qualifications set out in the Church Constitution. Following election by the members, training and induction of new Trustees is overseen by the existing Trustees, who may delegate certain elements of the induction process to staff members.
In the past year, Graham Jackson has stepped down as a Trustee and Elder. Ben McNeely also decided to step down as an Elder and Trustee in summer 2023. The Trustees express their gratitude to Graham and Ben for their years of diligent and faithful service. Josh Jackson became an Elder and Trustee of the Church in July 2023.
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## _Risk Management_
The Trustees have examined the major strategic and operational risks which the Church faces and confirm that systems have been established to monitor those risks so that the necessary steps can be taken to lessen them.
## **Objectives**
The charitable objects of the Church are the advancement of the Christian faith in accordance with the Church's Basis of Faith primarily but not exclusively within Birmingham and the surrounding neighbourhood; and other such charitable purposes as shall, in the opinion of the Trustees, further the work of the Church.
## **Review of activities and impact for Public Benefit**
The Church holds a series of weekend and midweek activities and in addition provides financial support to individuals and organisations involved in Christian activities.
When planning and reviewing activities, the Trustees give due consideration to the Charity Commission's general guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of the Church in our local community.
The activities of the Church are overseen by its leadership (the Elders, Trustees and Deacons), and are carried forward both by the Church staff, and by the extensive involvement of volunteers drawn from Church members and other regular attendees. This pattern is seen in all areas of the life of the Church including: leading of midweek groups; youth and children's activities; and activities within the community.
The Church welcomes members and attendees from all backgrounds with the aim of ensuring that they do not miss the opportunity to benefit from its activities.
The continued use of Dell Road Gospel Hall as a venue has proved to be a great asset for the Church, especially when other venues haven't been usable due to Covid related restrictions. During the year the Church transitioned back to mainly in person meetings after a long period of meeting via Zoom or in small groups. With effect from September 2022, the Church restarted meeting at Stirchley Baths on a regular basis which has been a real benefit for the Church, providing greater space and facilities whilst remaining at the heart of the Stirchley community. Longer term, the Trustees are seeking to find a permanent new building in the community that will accommodate the Church's needs. Further details are found in the 'New Building' section below. A second service was started in September 2023 at the Church's building at Dell Road to accommodate growth in the Church's regular attendance.
## _Regular activities_
Noah's Ark, our parent and toddler group has continued to run and provides a space for parents and carers to socialise. This provides a vital help to avoid social isolation often felt by parents in the early days of parenting. The atmosphere of Noah’s Ark is regularly commended for its welcome.
Our youth programme has expanded through the last year and now meets every Sunday afternoon in term time, provides a safe place for secondary school age children to play games and explore questions of faith. In October 2022 the young people went on their first weekend away, combining with the youth programme from another local church. A new weekend is planned for autumn 2023.
As the Church recovered from Covid, we responded to a need in our community to support people who have English as a second language. The Church launched an English club providing language teaching and opportunity for language practice. The classes are intentionally small (between 1015 students) and provide a safe context for people to ask questions as well as practice their spoken English. In addition to the class, the Church has also organised a number of events including picnics and parties for families of the classes to meet one another. Following the classes
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_"We're all about helping people love Jesus more and more"_
there is a short basic English Bible Study where a number of the students enjoy the opportunity to investigate Christianity.
Another community need following Covid led to the Church providing a warm space for older members of the community to meet and chat over tea and coffee. Every Tuesday the Church runs an open discussion time, particularly welcoming retired people who enjoy time to meet, chat and there is a short talk from one of the church pastors. For the group who have been meeting together it has proven to be a vital moment of social interaction in their week.
The Church has been able to provide new training opportunities, including an 8-week pastoral care course. Around 15 people met weekly, utilising materials from Crosslands Training Course. Most of the people who attended were not Church staff but members of the Church interested in how to help people in need. We were delighted with the uptake of the course and look forward to running future courses of this kind. The Church has planned a future course for people who are coping with bereavement, running in Autumn 2023.
The Church continued running a course for people investigating Christianity called “Come Dine With Us”. For the first time the course was able to run in Can Eat, a local café and it again proved popular.
The Church also launched a new support programme for students at the University of Birmingham, offering pastoral care through a number of 1-2-1s enabling every student attending the Church who wants it, to receive some pastoral input from someone older. The Church also launched monthly meetups for students (termtime only) called Brunch-ology. Hosted in the homes of Church members and meeting on Saturdays for brunch, students have the opportunity to find out more about Christianity and a chance to ask lots of questions. These have also proven to be popular, regularly gathering around 15 students.
Our summer holiday club was back in August 2022 engaging 5-11 year olds in the community for a week of crafts, Christian teaching, quizzes and sport. Around 30 children attended every day and the team was made up of a wide range of folks from across the Church.
As well as our weekly Sunday services, the Church also offered additional services at Christmas and Easter to provide the local community with more opportunities to connect with the Christian faith during those seasons. The Church also hosted a Nativity Trail which enabled families and young people to explore the real meaning of Christmas alongside an activity trail around the local community. The Church continued its support in providing Christmas gifts for children in families receiving short-term accommodation for homeless families. At Easter, the Church was able to run an Easter Egg hunt with clues to find around the local park. All of these events received lots of support and were widely appreciated by the local community.
We are delighted that Josh Jackson was able to join our staff team in August 2021 in a trainee role with a focus on church planting training, youthwork and a partnership with Crosslands training centre. Josh has been a real asset to the Church and we are thankful for the fundraising that has made his continued employment possible through the last year. The trustees hope that Josh will be with us, at least until he has completed his 4 year seminary training.
Due to the increasing growth in the Church and need for greater operational support, the Trustees recruited an Operations Manager to lead the Church's operations in September 2022. The Trustees view this as a key role for the future growth of the Church and the individual is already making a significant impact across the Church, allowing the Trustees to focus on strategic matters.
The Church has continued to build partnerships with cross-cultural mission organisations, and we were delighted to be able to host a number of short and long-term missionaries in the Church who are serving in Birmingham from overseas. These volunteers serve and support the Church throughout the week as well as receiving mentoring during their time in the UK. The Church provides financial support to their sending organisations but does not provide direct financial support to the individuals.
4
_"We're all about helping people love Jesus more and more"_
The Church remains committed to reaching, teaching, discipling, and training Christians to carry out Gospel ministry in our community and further afield. As part of this activity, the Church is committed to planting churches in the Birmingham area. The Church is therefore involved with the Birmingham Collective (previously known as 2020 Birmingham), as part of a coalition of Birmingham churches working in partnership to launch new churches across the city. Andy, one of the pastors of Grace Church has continued to be involved in the training of new church planters through the Birmingham Collective.
## **Impact of Covid-19**
During the financial year the operations of the Church were barely impacted by Covid-19 as social distancing and isolation restrictions have been removed allowing services and activities to return to normal operation.
To the date of signing of these accounts, the Covid-19 pandemic has had minimal impact on the finances of the Church. Reserves are in line with expectations and the reserves policy has not been amended.
## **New Building**
Due to the continuing growth of the Church and the number of people attending the services and activities of the Church, it has become increasingly clear that the Church needs to relocate to a new building. Following a competitive marketing exercise undertaken by Birmingham City Council in 2020, the Church was selected as the preferred bidder to become the long-term tenant of the former Selly Oak Constituency Office which is located on Stirchley High Street. This is a historical building in the centre of Stirchley but as it has been empty for a significant period of time, the condition of the building has deteriorated further and a substantial level of investment is required to bring it back into use.
A Heads of Terms document was agreed with the Council in May 2022 and the formal lease is in the process of being agreed. The Trustees have appointed architects to support a proposed extension and refurbishment of the building in order to bring it back into use for the benefit of the Church and the wider community. A fundraising project has also been commenced with the aim of securing funding for the project. The Church has been consulted on the plans, and in summer 2023 the Church conducted an engagement process with the local community. The Trustees applied for planning permission in autumn 2023 with a decision expected in early 2024.
## **Financial Review**
The accounts have been drawn up on the accruals basis.
The total incoming resources for the year were £281,428 (2022: £197,368). Resources expended in the year were £215,478 (2022: £143,641). This resulted in an overall surplus for the year of £65,950 (2022: £53,727). The main reason for the significant increase in income was due to income received relating to the new building project in the amount of £91,232. The Trustees expect giving to the new building project will continue to increase over future years as the project progresses.
The Church's funding principally comes from gifts and donations made by members of the congregation, together with associated gift aid. The Church provides support by grants to a wide selection of individuals and organisations involved in Gospel ministry who have links with the Church. Grants are considered by the Trustees and, where required, voted on by the Church membership in accordance with relevant provisions of the Church Constitution.
Cash balances at the end of the year were £159,621 (2022: £114,031) of which £63,129 (2022: £65,612) was unrestricted, available for general purposes and not designated, or restricted for any specific purpose.
## **Reserves Policy**
In regard to unrestricted funds: the Church holds a General Fund which does not include funds which have been designated by the Trustees for a specific purpose.
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_"We're all about helping people love Jesus more and more"_
The Trustees are committed to holding a level of reserves for General Funds that will cover three months' costs, subject to sufficient funding being available to achieve this, while not hampering the ongoing development of the activities of the Church. The precise level of reserves to be attained is subject to regular review considering levels of activity and prevailing circumstances.
The level of General Funds at 31 March 2023 is more than three months’ of costs.
Regarding restricted funds: these are accounted for separately; only accepted for projects or activities sanctioned by the Trustees and in accordance with the objectives of the Church, and; expenditure is not committed beyond the level of funds received. The Trustees do not therefore have a specific reserves policy for restricted funds.
## **Trustees' Responsibilities**
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 on 30 January 2024 and signed on their behalf by:
## **N. Gunn**
_**N. Gunn**_ – Trustee
6
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **GRACE CHURCH DELL ROAD ('the Charity')**
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 March 2023 on pages 8 to 18 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 Charity’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 ICAS, 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 BA CA Institute of Chartered Accountants of Scotland
Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: 31 January 2024
7
## **GRACE CHURCH DELL ROAD**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 MARCH 2023**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Other income
5
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
6
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
15
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
15|Unrestricted
Funds
£
172,212
5,786
88
178,086
145,191
145,191
32,895
-
32,895
29,899
62,794|Restricted
Funds
£
103,342
-
-
103,342
70,287
70,287
33,055
-
33,055
33,797
66,852|Total
Funds
2023
£
275,554
5,786
88
281,428
215,478
215,478
65,950
-
65,950
63,696
129,646|Total
Funds
2022
£
187,593
7,915
1,860|
|---|---|---|---|---|
|||||197,368|
|||||143,641|
|||||143,641|
||||||
|||||53,727
-|
|||||53,727
9,968|
|||||63,696|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The notes on page 10-17 form part of these accounts.
8
## **GRACE CHURCH DELL ROAD**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2023**
|Note
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors
9
Cash at bank and in hand
10
**CREDITORS: Amounts falling**
**due within one year**
11
**Net current assets / (liabilities)**
**Total assets less current liabilities**
**CREDITORS: Amounts falling due**
12
**after more than one year**
**TOTAL NET ASSETS**
**FUND BALANCES**
15
Unrestricted Funds
General funds
Designated funds
Restricted Funds|Unrestricted
Funds
£
1,938
1,938
6,445
101,977
108,421
(8,240)
100,181
102,118
(39,325)
62,793
23,946
38,847
62,793
-
62,793|Restricted
Funds
£
-
-
9,209
57,644
66,852
-
66,852
66,852
-
66,852
-
-
-
66,852
66,852|Total
Funds
2023
£
1,938
1,938
15,653
159,621
175,274
(8,240)
167,033
168,971
(39,325)
129,646
23,946
38,847
62,793
66,852
129,646|Total
Funds
2022
£
1,534|
|---|---|---|---|---|
|||||1,534|
|||||2,626
114,031|
|||||116,657
(8,020)|
|||||108,637|
||||||
|||||110,171
(46,475)|
|||||63,696|
|||||15,276
14,622|
|||||29,899
33,797|
|||||63,696|
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
## **N. Gunn**
N Gunn
Date: 30 January 2024
Charity number: 1155358
The notes on page 10-17 form part of these accounts.
9
## **GRACE CHURCH DELL ROAD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **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 previous year's accounts were prepared using the receipts and payments basis but, this year, the charity was obliged to prepare its accounts using the accruals basis. The results for 2022, which are comparatives quoted in these accounts, have been restated using the accruals basis (see note 17 for details).
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) 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.
When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.
- 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.
## 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.
10
## **GRACE CHURCH DELL ROAD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
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. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.
## 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 donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
## Equipment
Over 3 to 7 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) Investments Fixed asset investments are held to generate income and / or for their investment potential. Current asset investments are investments that are held specifically for sale or are investments that the charity expects to sell by the next balance sheet date. Investments, other than social investments (see below), are valued as follows:
- i) Investment property and 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.
## g) 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.
## h) 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.
## i) 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).
- j) 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**
|**ations and legacies**|||
|---|---|---|
|Donations of cash and similar
Other grants receivable
Income tax recoverable|2023
£
219,626
19,473
36,455
275,554|2022
£
148,152
12,259
27,183|
|||187,593|
11
## **GRACE CHURCH DELL ROAD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **4 Income from charitable activities**
|Church retreats and events
Hall hire
**5**
**Other income**
Insurance claim refund
Other
**6**
**Charitable expenditure**
**a**
**Costs incurred directly on specific activities**
Staff costs
Staff support
Events
Utilities
General Expenses
Equipment
Child protection
Rent
Visa Sponsorship
Building project
Grants payable (note 8c)
**b**
**Costs incurred on support & administration**
Governance costs
Independent examiner's fee
Other
Depreciation of tangible fixed assets
Insurance
**Total expenditure**|2023
£
1,286
4,500
5,786
2023
£
-
88
88
2023
£
123,784
8,375
5,629
3,711
8,656
2,146
785
9,550
-
27,448
190,083
22,155
212,238
930
105
1,035
1,415
790
3,241
215,478|2022
£
35
7,880|
|---|---|---|
|||7,915|
|||2022
£
1,860
-|
|||1,860|
|||2022
£
93,768
4,389
4,989
3,697
5,009
91
616
7,159
3,000
7,166|
|||129,884
11,030|
|||140,915|
|||900
-|
|||900
1,131
694|
|||2,726|
|||143,641|
The fee payable to the independent examiner for preparing and examining the accounts was £930 (2022: £900).
## **c Grants payable**
|Grants for local support
Grants for mission support
The comparatives for the previous year are as follows:
Grants for local support
Grants for mission support|Institutions
£
-
15,070
15,070
Institutions
£
-
7,020
7,020|Individuals
£
6,085
1,000
7,085
Individuals
£
600
3,410
4,010|2023
£
6,085
16,070|
|---|---|---|---|
||||22,155|
||||2022
£
600
10,430|
||||11,030|
12
## **GRACE CHURCH DELL ROAD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
The charity's principal grants to institutions comprised:
|charity's principal grants to institutions comprised:|||
|---|---|---|
|Fellowship of Independent Evangelical Churches
Serving in Mission
Interserve
Arab World Ministries
Agape UK
Converge (US charity)
Greater Europe Mission UK
Grants to institutions for less than £1,000 each|2023
£
2,370
2,800
1,400
1,400
2,500
3,000
1,500
100
15,070|2022
£
2,220
2,400
1,200
1,200
-
-
-
-|
|||7,020|
## **7 Analysis of staff costs, the cost of key management personnel and trustee remuneration**
The average monthly number of employees during the year was 4 (2022: 3). 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 trustees and the key staff named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:
|Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Andrew Weatherley
39,718
-
2,976
Stuart Ward
31,699
-
2,317
ollowing amounts were payable in the previous year:
Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Andrew Weatherley
38,912
-
2,918
Stuart Ward
30,089
-
2,257|2023
£
42,694
34,016|
|---|---|
||76,710|
||2022
£
41,830
32,346|
||74,176|
The following amounts were payable in the previous year:
Andrew Weatherley and Stuart Ward 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.
## **8 Tangible fixed assets**
|Cost
At 1 April 2022
Additions
Disposals
At 31 March 2023
Accumulated depreciation
At 1 April 2022
Charge for the year
Eliminated on disposal
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022|Fixtures,
fittings and
equipment
£
8,464
1,819
10,283
6,930
1,415
8,346
1,938
1,534|Total
2023
£
8,464
1,819
-|
|---|---|---|
|||10,283|
|||6,930
1,415
-|
|||8,346|
|||1,938|
|||1,534|
13
## **GRACE CHURCH DELL ROAD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **9 Debtors**
|**Falling due within one year:**
Tax recoverable
**Total debtors**
**at Bank and in Hand**
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
Petty cash
**itors: liabilities falling due within one year**
Accruals
Finance lease liabilities
**itors: amounts falling due after more than one year**
Finance lease liabilities|2023
£
15,653
15,653
2023
£
154,572
5,000
48
159,621
2023
£
1,090
7,150
8,240
2023
£
39,325
39,325|2022
£
2,626|
|---|---|---|
|||2,626|
|||2022
£
113,983
-
48|
|||114,031|
|||2022
£
870
7,150|
|||8,020|
|||2022
£
46,475|
|||46,475|
## **10 Cash at Bank and in Hand**
## **11 Creditors: liabilities falling due within one year**
## **12 Creditors: amounts falling due after more than one year**
## **13 Loans and finance leases**
The liabilities for finance leases referred to in notes 12 and 13 fall due for repayment as follows:
|Repayable:
Within one year
Between one and five years
After five years|Otherwise
than by
instalments
-
-
-
-|By
instalments
7,150
28,600
10,725
46,475|2023
2022
£
£
7,150
7,150
28,600
28,600
10,725
17,875
46,475
53,625
Finance leases|2023
2022
£
£
7,150
7,150
28,600
28,600
10,725
17,875
46,475
53,625
Finance leases|
|---|---|---|---|---|
|||||53,625|
The church has entered into a lease arrangement, whereby Church Growth Trust have invested £80,000 as a grant towards the new extension. The lease commenced on 1st October 2014 and allows for the £80,000 to be recovered over a 15 year period at an interest rate of 4% per year by way of an annual rental payment of £7,150.
## **14 Pension commitments**
During the year employer’s pension contributions totalling £8,287 (2022: £5,974) were payable to defined contribution personal pension schemes.
14
## **GRACE CHURCH DELL ROAD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **15 Funds**
During the year the movements in the charity's funds were as follows:
|_Designated Funds_
Premises fund
Mission & Partnership Fund
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
Love fund
Ward Fund
Jackson Fund
Premises fund
Aggregate of funds|Opening
balance
2023
£
13,847
775
14,622
15,276
29,899
4,278
1,165
28,354
-
33,797
63,696|Incoming
resources
2023
£
-
-
-
178,086
178,086
1,250
-
10,860
91,232
103,342
281,428|Outgoing
resources
2023
£
-
(775)
(775)
(144,416)
(145,191)
(3,035)
-
(30,835)
(36,417)
(70,287)
(215,478)|Transfers
in the year
2023
£
25,000
-
25,000
(25,000)
-
-
-
-
-
-
-|Gains and
losses
2023
£
-
-
-
-
-
-
-
-
-
-|Closing
balance
2023
£
38,847
-|
|---|---|---|---|---|---|---|
|||||||38,847
23,947|
|||||||62,794|
|||||||2,494
1,165
8,379
54,815|
|||||||66,852|
|||||||129,646|
## **Details of funds:**
Premises Fund - funds designated for any future costs in relation to new or improved premises Mission & Partnership Fund - funds designated for the support of mission and partner activities Love Fund - funds restricted for the support of individuals and families in financial need
Ward Fund - funds restricted for the support of Stuart Ward as an employee of Grace Church Dell Road
Jackson Fund - funds restricted for the support of Joshua Jackson as an employee of Grace Church Dell Road. (This fund was named the FIEC fund in a previous year, but it still has the same purpose.)
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|**ysis of net assets by fund**
assets and liabilities of the various funds were as follows:|||||
|---|---|---|---|---|
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year
Creditors falling due after one year||General
Designated
funds
funds
£
£
1,938
6,445
63,129
38,847
(8,240)
(39,325)
23,946
38,847
Unrestricted Funds|Restricted
funds
£
9,209
57,644
66,852|2023
£
1,938
15,653
159,621
(8,240)
(39,325)|
|||General
funds
£
1,938
6,445
63,129
(8,240)
(39,325)
23,946|||
|||||129,646|
15
## **GRACE CHURCH DELL ROAD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
_In the previous year the movements in the charity's funds were as follows:_
|_Designated Funds_
_Premises fund_
_Mission & Partnership Fund_
_General Unrestricted Funds_
_Total Unrestricted Funds_
_Restricted Funds_
_Love fund_
_Ward Fund_
_Jackson Fund_
_Westhill Fund_
_Aggregate of funds_|_Opening_
_balance_
_2022_
_£_
_3,413_
_775_
_4,188_
_(29,311)_
_(25,122)_
_5,688_
_1,165_
_28,238_
_-_
_35,091_
_9,968_|_Incoming_
_resources_
_2022_
_£_
_8,750_
_-_
_8,750_
_168,110_
_176,860_
_-_
_-_
_19,608_
_900_
_20,508_
_197,368_|_Outgoing_
_resources_
_2022_
_£_
_(14,316)_
_-_
_(14,316)_
_(105,523)_
_(119,839)_
_(3,410)_
_-_
_(19,491)_
_(900)_
_(23,801)_
_(143,641)_|_Transfers_
_in the year_
_2022_
_£_
_16,000_
_-_
_16,000_
_(18,000)_
_(2,000)_
_2,000_
_-_
_-_
_-_
_2,000_
_-_|_Gains and_
_losses_
_2022_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|_Closing_
_balance_
_2022_
_£_
_13,847_
_775_|
|---|---|---|---|---|---|---|
|||||||_14,622_
_15,276_|
|||||||_29,899_|
|||||||_4,278_
_1,165_
_28,354_
_-_|
|||||||_33,797_|
|||||||_63,696_|
## _**Analysis of net assets by fund**_
In the previous year, the assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year
Creditors falling due after one year||General
Designated
funds
funds
£
£
1,534
2,626
65,612
14,622
(8,020)
(46,475)
15,276
14,622
Unrestricted Funds|Restricted
funds
£
33,797
33,797|2022
£
1,534
2,626
114,031
(8,020)
(46,475)|
|---|---|---|---|---|
|||General
funds
£
1,534
2,626
65,612
(8,020)
(46,475)
15,276|||
|||||63,696|
Premises Fund - funds designated for any future costs in relation to new or improved premises Mission & Partnership Fund - funds designated for the support of mission and partner activities Love Fund - funds restricted for the support of individuals and families in financial need
Ward Fund - funds restricted for the support of Stuart Ward as an employee of Grace Church Dell Road Jackson Fund - funds restricted for the support of Joshua Jackson as an employee of Grace Church Dell Road. Note: this fund was named the FIEC fund last year, but it still has the same purpose
Westhill Fund - funds restricted for Christmas events
## **16 Transactions with related parties**
During the year the charity:
- a) received donations totalling £49,447 from related parties (which includes trustees, any other members of key management and anyone closely connected to them).
Except as disclosed in note 7 'Analysis of staff costs', there have been no other transactions with related parties during the year.
16
## **GRACE CHURCH DELL ROAD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **17 Reconciliation with previously reported funds**
In the previous year the charity prepared its accounts using the receipts and payments basis; in the current year the charity's income exceeded £250,000 and so it is now obliged to use the accruals basis for the preparation of its accounts. The comparatives presented in these accounts have been re-stated using the accruals basis and a reconciliation with the reserves and results reported previously follows:
|previously follows:|||
|---|---|---|
|_Reconciliation of reserves_
Previously reported reserves, at 31 March
Adjustments arising from use of accruals basis:
Inclusion of previously excluded fixed assets
Inclusion of previously excluded debtors
Inclusion of previously excluded creditors
Re-stated reserves, at 31 March|2022
£
114,031
1,534
2,626
(54,495)
63,696|2021
£
68,058
1,791
1,764
(61,645)|
|||9,968|
|Previously reported results
Adjustments arising from use of accruals basis:
Capitalised expenditure less depreciation
Movements in debtors resulting in the recognition of more / (less) income
Movements in creditors resulting in the recognition of less / (more) expenditure
Re-stated results
_Reconciliation of results_|2022
£
45,973
(258)
862
7,150|
|---|---|
||53,727|
17
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Other income
5
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
6
**Total Expenditure**
**Transfers between funds**
15
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
15|||**DETAIL**|**GR**
**ED STATEMENT O**
**FOR TH**|**ACE CHURCH DE**
**F FINANCIAL ACT**
**E YEAR ENDED 31**|Total
2023
£
275,554
5,786
88
281,428
215,478
215,478
-
65,950
63,696
129,646
**LL ROAD**
**IVITIES WITH COMPAR**
**MARCH 2023**|**ATIVES**|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||1|Unrestric|Designated
2023
£
-
-
-
ted funds|Restricted
2023
£
103,342
-
-|Total
2023
£
275,554
5,786
88
281,428
215,478
215,478
-
65,950
63,696
129,646|G
1
1
1
1
(
(
|Unrestric|Designated
2022
£
8,750
-
-
ted funds|Restricted
2022
£
20,508
-
-|Total
2022
£
187,593
7,915
1,860
197,368
143,641
143,641
-
53,727
9,968
63,696|
||||General
2023
£
72,212
5,786
88|||||eneral
2022
£
58,336
7,915
1,860
68,110
05,523
05,523
18,000)
44,587
29,311)
15,276||||
|||1|78,086|-|103,342||||8,750|20,508||
|||1|44,416|775|70,287||||14,316|23,801||
|||1|44,416|775|70,287||||14,316|23,801||
|||(|25,000)|25,000|-||||16,000|2,000||
||||8,670
15,276|24,225
14,622|33,055
33,797||||10,434
4,188|(1,293)
35,091||
||||23,947|38,847|66,852||||14,622|33,797||
|||||||||||||
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