Grace London Report and Accounts Year ended 31 March 2022 Stewardship Ac[i￿generOSItY 1 Lamb'5 Passage. London EC1Y &48 ¥1￿¥.&1eWardSh1p.0ry.Uk GRACE LONDON CHARITY INFORMATION FOR THE YEAR ENDED 31 lA￿tCH 2022 Trust￿8 Andrw4 HasLqm Danid Hutton Imignod 15 Jun¢ 20211 Luke 808rdrrqn Huw Ntrwton41ill lapprynt*J 15 June 20211 Thomas lapptynhj 15 20211 Staft dw HasLgm Gowmlng Docwnont CIO Constilutitin daknj 1 ADr￿ 2015 las 11 Aprfl 20211 Ch¥lty Reglstratlon N￿nbOT 1161147 Prln¢lpsl Addrw• Urnt 124 Edirt+uryh Hou88 170 Kenn1ThJ￿ft La Lorthn SE11 5DP Ind•p•nd•nt Ex•mlTr4r Lkn• Oarby FCA Skn¥rds1￿P 1 LartS'8 PaMty• LMdon EC1Y8AB Bank•r• 25 KirrfJs HIAwiu ng8 Hlll West Malkng Kent ME19 4 HSBC 28 Borough H*3h Str*t Lorthn SE1 IYB P*0• Charty Inforrn8t Trustees, Annual ReF*Nt Independent Examir*t8 Rewt Statement of Financial Aciwrooi Balance Sheet Cashflow Statoment Notes to the Accounts Detailed Statement of Finanraal ACMES wth 24 I￿11 12-19 Page 1 GRACE LONK)N TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 The trustees of G￿e LoThkn (the 'Church- or the"char[￿l. beiTrJ Amdrew Haslam. Luke Boardman. Huw Newton-Hill and Thoma5 Wheatley (the "Trustees.). have pleasure in subfnrtting this report lthe 'Reporfl and the accounts of Ihe Church (the 'AcC(￿nts.) for the year ending 31 March 2022 Ilhe 'Relèvanl Perio(ri. Objects of the chanty The Charity is a charttable ino)rw)rated organisation arxl is govemed by its o)nstitub¢)n which was established on 1 April 2015 {as amended on 11 A￿1 2015) lthe"Consbtution"). The objects of the Charity, as set in thÈ Constiiubon are to adV￿ce the Christian faith for th benefit of the public in accordan￿ the Ststemenl of Fath in LorKlon and in such other part5 of th8 United Kingdom and the worfd as the Truslees may from ts"me-tt>time think fit The Church's Statement of Farth is apFended to the Cons1]tu￿ and set out on the Church's website lgrace.londonlstslement-of-farthl. Summary of the charitys main activitiès and achigvements To further the above objects and wsion of the Churth, the Church'$ main ￿￿VIbeS and achievements during the Relevant Peric¥J wère as fol￿.. Core Activities.. During the Relevant Period. the Church contin￿d to Lbndertake its regular o)re activities, comprising." 111 tsvo separate weekty Churth swNices, hekl on Sunday momiros and evenings. ctsnsi81ing of expository preaching from the Bible. (x)rtKrte sung vrtarship and prayer. sharing of the Lord's Supper and Child￿n'S ministy fservTces"I,' 121 COTnmunty'Life Groups. vthwe people 9attw to share fty)d arKI fellcmtship and study the Bible and pray l(NJether,' and 13) mththly corporate prayer worship meetings. Prior to 19 Juty 2021. these athtses were ec¥)ducted in a rE8tricted fashion in a￿dan￿ with the UK Govemmenfs Cov1￿19 mles (the "COVID Rulesl. However. follo￿r￿j 19 Juty 2021, the COVID Rules were lffted, and the Chur(a) wa5 able trj ¢(￿￿.￿ue ts artivibe5 freely. Throughout the Relevant Period, the Church maintained a polw ensuring that all Chur¢h activities cOm￿Y the COVID Rules. Prior to the lifting of the COVID Rules, Chur¢h attendan￿ Yras less than the average attendance in March 2020 {i.e. prior to implementation of the COVID Rules). However. folk)w"ng the lrfti.ng of the COVID Rules. Church attèndance steadity grew $0 thaL at the expt'ry of the Relevant Period, the average Sunday attendance across the SeNces was ccmparable to March 2020. The Trustees also esb.mate that the Church membership grew a¥ 11 meM￿rS were added. while 8 moveil on. Children s ministy". Children's ministy ¢ontinued at the SeNces during the Relevant Period. All volunteers were required to Comp￿ barA(ground check5. have training the children's ministy leader and ￿nfirM their understanding of and ccffimilment to the Church's safeguarding wlw. Page 2 GRACE L014DOII TRUSTEES. ANNLIAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Summary ofthe charitys main activibes and achiev•ments {¢ontinuedl Evangellsm.. During the Relevant Per￿, Ihe Church continued in its efforts to share the good new6 of Jesus Christ those ￿0 do krTh¥ him. This was prinupalty done through". 111 'SaJt LNe' events. wh¥e Londoner5 from all walks of lile cxjme together and engage face-to-face on matters of faith and philosophy I'satt ￿ve.1.. and (2} the 'Salt Course,. a course designed for pwjle wanbng to extdore life's big questions from a Christian perspeth.ve lthe'salt Cwrsel. As a resum of the COVID Rules, Salt ￿Ve wa$ SUSFerKled until Septemtser 2021. BeNYeen September 2021 and March 2022, we held four Satt ￿ve events. ab￿ the Chrisban farth. anxiety, psychology and human identity. E*h event was well attended. vthh e.80-1CNJ attendees at each event. Prior to the lifts'ng of the COVID Rules. the Salt Course was held online, w7th a Sall Part Two group Yknich ran from Jan 2021 to July 2021. Satt Part groups ¥e groups for non£hristians and rfftv Christians to look further into the person of Christ Once the rules ￿re lffted. the course was hdd irpperson again las it had been beforts the implementation of the COMD Rule51. Cwrses were held in Odober .21 and FÈb '22. The Trustees èstimate that C.4￿50 people attended a Salt CCIJ￿ during tl* Relewdnt Peric￿. Thè Relevant Period was a fruitful b"me, as God conlinued to move in the Church cx)mmunrty. During the Relevant Period, 12 pèople were bapts"sed. All glory to Godl OtherActfvities.' The Church arranged a numl)er of events and *vay-days during the year whith are an opportunity for Church member5 to gthr together. deepen relationships. enjoy times of corFY)rate sung worship and prayer and hear exwsitLYy frrxn the Bible andlor receive trainiro from the Elders or other leaders. During the Relevant Period, these events w￿L￿￿j (1) monthty men's mrnisty,. 12} a men's weekend away,. 131 W•r￿en'S events; 14) weekty mum's group," 151 the Cty Felbw5hip, a discipleship course focussed on under5tsndirg G(Kl's purpose for wc*k'. 161 a number of leaders. away days. and 17la women's bible sturfy. Folkming the 1tfb.ng of thé COVID Rules, the Elders are plannirvJ a Churth weekend away in 2023. wll be the first sitK* 2019. Thére We￿ al$o, as afvRys. many informal. O￿t(￿one disthpleship meetiry as wEII as cthÈr acphoc vneetings happening through0￿ the Relevant Perityj. In planning the ￿bvthÈ$ the Trustees ha￿ appfied ￿ guid￿ on publ￿ ber￿fft issued by the Charity Commission. Staff team There wÈre three additions to the staff team durirKJ the Relevant PericKI as e￿Jrch activrties ￿suMed followng the lffting of the COVID Rules, requiring greater operab.onal oversight. Zach Kellett joined as a full-time Operations Cix)rdinator. Bekah Eggleston joined as a part-time wel￿Me Coordinator and jor￿ Thornejoined as a part-time Media Co￿dInator. Page 3 GRACE LONDON TRUSTEES, ANIIUAL REPORT FOR THE YEAR ENDED 31 IAARCH 2022 Relationships with other churches and Individuals Th¥ Tru81ees believe that the obJ'e¢ts of the Church are best acc¥)m￿ished in relationship other churches and people through movements such as Advance. Advan￿ is a global movement of churches partnering together to advance the good news of the Chrisban faith through plantin9 and strangthening thurches Iwvh¥.advanc¢movemenl.coml. The Church has continued to benefit from it8 relatsonship with Advance during the Relevant Perioj. t1￿ugh regular Advance gathertngs were prevented by loc&down. The Church continues to ènjoy irrfomial but dos• rolatiMship8 other churches and individual Christians arwnd the world. Stru¢tur•. Govaman￿ and Managomon¢ Annual Gen•ralAl••Ung." Th• Annual General Meebng lor ￿ Relevant Penod was held on 15 June 2021 Ithe"AGMI. DurirvJ the AGM."111 Andrew Haslam reti￿ from Off￿ and was subsequ8ntly reappointed as a Trustee, In accordance ￿￿th clauses 13 aNJ 16 of the Constitution',121 Daniel Hutton relSred from office definitivdy as a re8uIt of moving Way from Lorthn with his famity. As noted in the Tru8tees' Annual Report for the year onded 31 Mar¢h 2021, the Trustees are inueJt bel￿4•). The Cmstitrrtion PTOVKle8 that nv4V charity tru8t••s w•ll be appointsd by Ihe'members. of th• Chur¢h las that word is defined in the Conslrtubon. beirrfJ the Elders of thg Church) (dause 131. and new charity trustees will be provK1ed with a Copy of the Constsiution {and any amenthrents to rt) as well 88 th8 latest trustees, annual rewt and statement of aecoLmts Idause 141. The Trustees.. Al the commencement of the Relevant Period, the Trustees were Andrew Haslam, Luke Boardman and Danid Hutton. Folbwing the AGM and for the remaind¥r of th? Relevant Peri¢Jd. th• Tru8t••s w•r• Androw Halom, Luk• Bo8Tdman, Newton•Hil Thoma$ SonlorPastor.' During Ihe Relevant Period, Andre4¥ Ha$lam o)nb"nued to be employod as Senior Pastor of the Church. The employmenl ol Andrew Haslam. who is also a Trustee, is in accordanc• dause 6 of the Con3tilulion I'Benefrts and payments lo trustees and connecaed persons'l. Andrew Ha$lam's ern￿OYment and remuneration do not relate to his rd8 as a Trustaa of Church. D•eision makiftg.. IA a¢¢¢rdancg wth t￿ Church's Consbtution. the and operating d￿1¥10r￿ of the Church rest wrth thg Trustee$ and, U￿M•tety. the"Members" of th• Church. Thè Trustèès communicate frequentty and maet regula￿Y {* least quartetyl to discuss and m¢)nitor the acti￿11•# of the Church. However, many of day-tW responsibilthes in the lrfe of thg Churth arg d•lagat•d to the Church's stsff team an¢J volunteers. The Tru$lees have com ￿led wrth their duty lo have due regard to th• guidance on Publ￿ beneffil published by the CharTty Commission in exercising their powers or dub"es. Finance.. Al financial payTnents from the Churth's online banking knlty wilh CAF Bank requirn validakn.onlauthorisation from a Second member of the Trustee andlor finance teams dl payments. A naw bank account has been set-up vnth HSBC for O￿abonal fin￿c¢S which require$ valkdatonlauthorisaticm) for all paymerts over £1,OtKI. Pag9 4 GRACE LONDON TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Financial rgview During the year income inueased by £86.842. to £586,148. and experKIrtu￿ increased by £122,918, to £359,915. As a resuli, the net ineome fix the year dewsed by £36,077, to a surplus of £190.233 and the charitys net assets irueased by the same amount. to £506.911. Net cuffent assets increased by £196.908, to £501,990. Inc¢yne in the Relevant vras predominantty due to the generous donations of the Churth community. Incomé increased in line vth the growth of the church, expendtture InC￿aSed significanlly due to the resumpts'on of (*urch a¢*"vrbes after the COVIt>19 pandern￿. Current assets increased signffi(sntty due to the incxeased surplus. Rent expenses increased by £26.868. to 13% of expenditures (FY20f21.' 9%). largely as a result of reGommenung nomial Church activ￿es, al￿ thereby usin9 the London Nautical Schotsl as a venue, fcAlobving the gradual easing and then Irlb'ng of the COVID Ruth. Total grant5 and gifts by Gra￿ Londcn to miSs￿nary arnl charitable cause5 is 13% of expenditures IFY20121.' 13%). The bulk of thesè ftJnds1£36,1501 went tLywards SUPFM)rbng the work amongst the churches in the Advance nets￿rk. a fvrther £6,(K)O going towards chur¢h ￿lie[ in the UK and abroad. £8.871 was given to grtls to miss*Jn in the U At the end of the Relevant Period. the Salt Ministy restrh*ed fund was in deficit with no fiJrth8r donations antiripated. Thwefore. the tntstees agreed to ckne thi5 lund and deared the deficit from ￿n￿StriCted furKIs. The Charrty ujntinL￿d to kyepare its aoX￿nts using the aorruals basis. Reserves policy The Trustees have prewousty determined that the c￿￿ty should aim to hold unrestiicted cash of 1.5 onths, of payroll and rent expenditure {which equates trj al)out £35.0001 in thè designated fund for general re$￿Ve5 so that Charity (x)uld continue to OFerate should income and l or expendrture vary adversely. At the year end. the Chanty held unrestr.cted ￿5h in thè designated fund for general reserves of £34,986 and the Charity is ￿Mpl￿"n9 its current reserves polw. Gi￿n the gTfhth of the churc* in recent years and the irKrease in owational and stsff CA)sts. the trustees are undertaking a review of the reserves t)olicy during the 2022-2023 financial year. However, with an unrestriited cash balance of £355.126 as at 31103122, in addib.on to the designated reserve, the trustees a￿ confident that any higher reqU1￿ment V•vuld Èe ￿MfortablY met. K¢y risks and uncertainties The chartty is ex[¥)$￿ to vari¢)us risks - be owa1ion￿. finanaal or reputational. The trustees review the charitys activities regularty lo identify significarrt risks and. vknere wssible, they take appropriate measures to mits.gate those risks. or parb￿jIar note. the Truslees are trinsistenyy monitoring COVID and safeguarding risks, and erHleavcMJr to keep policies rdating lo both risks up to Pa￿5 GRACE LONDON TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Plan8 for the future OUT hope looking fts￿￿rd is lo start many new thJr(*es, and to continue the sknv and deliberate wo of helping each person who ¢omes through our doors discovei more about Jesus and his amaang life. and find themselves amidst a famity in the heart of the ¢ity. Responsibiliti•s of trustees undercharlty law The trustees are responsible for weparing the trustees. annual report and the financial ststements in a¢xordarKe with applicable l• and United Ifjngd￿ Aco)unling Standards {Unrted lfjngjom Generally Accepted Accounting pra¢ti￿). Charity law r8qui￿$ the trustees to prepare financi4 statements for each finanaal year give true and fair view of the State of the affairs of the thanty as at the balan￿ sheet date and of its incoming resources and applicati￿ of reS￿r￿. in(*Jding irmme and eX￿)drtuFe. foi the financial year. In preparing these financial slatements, the trustees are required to.. 1. select Surtable accounting pdiaes arthj apptythem Consist￿,. 2. observe the methods and winc4ples in the Chwilies SORP; 3. make judgements arKI estimates that are reasonab￿ and prudent 4. state whether the appl￿ a¢(x)unting standards have been folltrNèd, subjeta to any material d8parlure$ disdosed and explained in the finan￿￿ ststements" artd 5. prepare the financial ststements on a going concem basis U￿esS it is inappropriate to presume that the d)arty wll (x)ntinue in operation. The trustees are reswnsible for keepFrvJ proFer accounting reu)rds thal dI￿105e with reasonable accuracy at any time the finarKial pOS￿"0n of the charity and etwble ihetn to ensure that the financAal statements compty with the Charibes Act 2011 and the Charity {A￿￿rIts and Reports) Regulations 2008. They are also responsible fef Saf￿u8rdir￿￿ the assets of the charrty and hence for taking reasonable steps for the prevention and detec*tin of fraud and other irregularities. Approval This report was approved by the trustees ￿ signed on Iheir belkiff by.. LUKE BOARDMAN L3 Page 6 INDEPENDENT EXAMINEifs REPORT TO THE TRUSTEES OF GRACE LONDON Ilhe Charity) I report to the charity trustees on my exam1rk7tiL￿ of the a¢O￿nts of the Charity for the year ended 31 Mard) 2022 on pages 8 10 20 foll¢x*ing. whth have been prEparèd on the basis of the accounting policies sel out on pages 12 to 13. Responsibilities and basis of r•port As the chartys trustees of the Charitable Ir￿tated Organisab"on are ￿spOnSible for the prepara￿D ofthe a￿￿t$ in accordance 74thh the r￿Uirements oflhe Chathes Acl 2011 Cih8 Actj. I repyjrt in respect of my examination of the CharTVs accxjunts CAni*J out under section 145 of the Act and in carrying out my examinab.on I have followeAJ all the appl￿ble Directions given by the Charity C(¥nmission urKler se¢lion 14515){bl of the Ad. Independent oxamin*s staternent Sincé the Chartws gTOSS in(xJme exce*ded £250.(iYJ yvur examiner must be a memt*r of a t￿Y listed in section 145 of the 201 T Act_ I confim that l am qualffied to tjndertake the examination because l am a member of The Inststlrte of Chartered Aco)untants in England and Waks. which one of the listed I have cornp￿d my examination. l o)nfim that no WI￿tterS have o)me to my attenb.on in r))nnet*"on the examination gtvir4J me cause to believe.. 1. accounting records were Th)t kept in res￿ of the Charity as wuired by seclM)n 130 of thè Act.. or 2. the accounts do not aoxrd wth those ￿c(￿￿$.. or 3. the aG(K>unts do not cornp￿ with appli(>ble requirements Corwr￿n9 th• fomi and content of accounts set out in the char￿eS (Accounts arKI Rew)rtsl Regulati(M)s 2￿8 other Ihan any requirement that the accounls give a Itue and fair view which ts nol a matter cons*Je￿ as part of an indep￿dent ex8minalion. I have no r￿n￿m$ arKI have come 4c¥oss no olher matters in conne¢tion the examination to which attention should be dravm in this rep)rt in order to enable a woper understanding of the accounts to be reached. Lisa Dartjy FCA The Institute of Chartered Ac&￿Atants in England and Wales Stewardship 1 Lamb's Paswe London EC1Y 8AB Dale.. 30th January 2023 Page 7 GRACE LONDON STATEIAEKf OF FINANCIALACTIVrnES FOR THE YEAR ENDED 31 AWiCH 2022 Totsi Funds 2022 Total Funds Funds 2021 INCOME AND ENL)0￿￿ENTs FROM: Donations and Bank interest 586.142 499.292 15 Total ineom8 and endtrwrnents 150 585,148 499.K EXPENDITURE ON: Cha￿￿tab￿ ￿￿"V￿e$ 395.915 272.997 Total eX￿ndItUre 395.915 272.997 Net galnsll105se51 on In¥e5knen Not Incom￿{eXp0nd1￿1e) 199.448 19.2151 190.233 228,310 11 111.6711 11,671 Nèt movement In funits 187.777 2,456 1￿j.233 226.370 Rocon¢illatlon of fund¥: Tota fw)ds brought foThthl 304.717 11. 316.677 90,367 Totsl lunds earried for*anl 11 492.495 14.416 5&S,911 318.677 The statement offinandal a¢bth includès ajl gairs ar¥J *tsses r￿niSed in ts year. l inc4)me &ynd￿re d•ri¥e fr(Mn ¢xntinuirvJ operations. The notes on pwJe 12.19 fom) part ofthese accounts. PasE 8 GRACE LONDON BALANCE SHEET AS AT 31 MAJICH 2022 Tot•1 FuThJs 2022 Total Fund& 2021 FuThJs FuTrJ5 NXED ASSETS Tangible assets 4.920 4.920 4,920 4.920 11.595 11.595 CURRENT ASSErs Debto Cash at bank and in han¢J 29.601 4n.104 29.601 487.520 29,695 29).372 14,416 14,418 517,121 320,067 CREDITORS.. knounto fallln9 Iluo wlthln ono yoar 115.1301 (15.1301 114,9851 Nét euyrnnt a*Mts i (l￿NItt￿l) 487.575 14.416 501.990 305 082 Totsl M•8t• kn•• ¢urr•nt Il•bllltkn* 14.416 506,911 316,677 TOTAL NET ASSETS 492.495 506911 316,677 FUND BALANCES Unresincted FuThJ$ Genernl ftJn(Is De5ignat•d lun 374.517 117.978 492.495 374.517 117.978 492.495 215,807 88.910 304.718 Ralthctba Fund8 14.418 14.418 492.495 14.418 5C6.911 316.677 Th• financkql 8tat•mnts w•ro appro¥•d by th• Board ofTrusts•8 SVdn•J on iti by.. LUKE BOARDMAN %q 1.25 Charity nurrber. 1161147 The nots8 cfi p898 12.19 fo￿ part 0fth0￿ XLyJunlo. Pa￿9 GPACE LONDO FOR THE YEAR ENDED 31 IAARCH 2022 CASH FLOW STATEIAENT NolE 2022 2021 Cash flows from optrrntyng aetsvitl88'. Netcash pmvld8dby/(usedlnJ opernbnga¢iivll 199.070 208.268 Cash flfft from Inv¢5dng actlvities: Oivhlends. interest and rents trom invesbmrts PrKeetts frern the SO￿ of property. plant a￿fj •]WF¥rnnt Purchase of property. plant equiwent Prot￿d8 from Sa￿ of inVestr￿nts Purchase of invesb7*nts 11,9221 16,3661 1.922 8,366 Chanplrt ¢•sh and•qulv8lents In the repothgpwlod Cash •nd oqulvalents at tho btgtnnlng oftht y•ar Ch•n98 ta•h and •qubvalont8 du• to ¢xchany• r•t• 197.148 290.372 199.902 90,470 C•sh •ndcosh •qulv•l•nts•tth• ondollh•)*v 487,520 290.372 An11￿1* of ¢h4nq•8 In rnt (*bt: At *¥rt of At •nd of C•sh.fl¢ Ctth 29).372 197,148 487.520 Total ng¢funds I Id•bti 2￿.372 197,148 487.520 Page 10 GRACE LONDON FOR THE YEAR ENDED 31 IAARCH 2022 NOTES TO THE CASH PLOW STATEMENT Note a.. Reconcilla￿n of net incW¢X￿rK1ty￿)lo r%t ca&h Il￿froM okwating a¢tr¥iti 2022 2021 oclivities) 19)233 226.310 Adjustmenis for.. Depreuation charges and ptovision5 for I)wair￿￿Trt Ilncreaselldecrease wi dèbtors Increaselldecreasel in creditors Netcash provldedby(usedlnJ operalpfftJacbviltes 8.597 8.138 4.166 130,3441 199,070 208.268 Note b: Analysi5 ofcash ar￿ cash equivalents 2022 Cash at bankwilh urrnedtate aLt 4B7,520 290.372 Total cash and ¢asb equiva*rts 487.520 290.372 GRACE LC￿DoN NOTES TOTHEACCOVNTS FOR THE YEAR ENDED 31 MARCH statutory Inlomiaiio The chartiy is a tha11￿6 L¥g*Msati￿ [W•st￿Ed wih Clwty in EThj￿n￿ & Th8 thariV8 A¢¢ountlng Polkkns The8e fina￿ 818tenwt8ar8 wepw•Y on 8 LW¥ t￿. urwJ¥ tho cost￿￿vention. RepO￿￿j by Charthes wepanTrJ tr*r sEx￿ntS in Wilh the Fin¥ts•l Re￿￿9 Stsnd*O a￿1¢¥￿e in the UK and of Irdand IFRS 1021 I'the ChantX5 SORn. Rewbw siandard ap￿￿8b* io the ￿ft9d￿ and Repu￿￿ of IralBnd I'FRS ior) and tr* Char*os 2011. Tho dwty meets dafiThbon ofa publicbbnth entsty as Set out In FRS 102. •(rnrd4nc¢ *ith'knyJntirvJ 4nd Rwxtiw ty Chantias. Sl¥1*￿1 cl t +lJril 2005. bul thi• atyxunting siar¥lard has bew tttn re¢1￿8￿ by fv Ch8th88 SORP Methn￿ n the w￿801￿a paragraph. The olprity ha5 wepw•Y l￿fir* In SORP." th￿dD￿rtUre from tt 2008 Regulabons Is to b•nec*wryfor T#)*noai f•"r tru8t88s ha¥e asses8e¢ whethor th• w ol IN •pprcwwt¢ •nd ccffiwdered pU￿￿e avents or conthbons Ihat mvJhl c4St syniftcanl doubt 4￿knty of tho to •$ • gt4NJ The trL$t8￿ ha￿ madè th •5*ssment for n pBiiod of nt knt ¢)ne trtyn the dakn ol of 8th￿*71*. In partwlar bwst•88 have conshyered the chanty8 aryl ￿rI￿)r￿A 8nd pjwtle and I CY èxwndituro vafy un8￿C￿￿1y. The trustws he￿ Ih•l baw¢ i¥ a r¢*￿•￿￿ exp&#th that the dwty has ad•qL￿ta rets0￿ oxlnue for ihe fore%•wtle knur•. to the wno ))￿￿ b•w$ in Its bl Jos Induding Is wlc*J th• t•)rn •nb"UtsJ r•c*pt, iNI *ii¢Amt reCei￿ty19 con be mè#JurthY *ith W$￿￿*ble <¥tsinty. and ftr•F4 1$ FLY th¢ most pwt mcome It gonerally rte4gniaad rt 18 rec•W. kyonly dpftrred th¢ has to [£￿01￿¢*)&t￿rOrÈ ￿tted to li￿ tho dorKr IrKcm•from ¢wIti￿•nd *ats•s irdude&" 11 Recover#bk* gift *d. This 18 f•?>￿ tr• ￿lI*j Gift •d that has rKrt been r•))w&J by thè b•i•n¢e sheei (l&ie is 88 adebby 111 L•gth. IrK%ffl• frcffl is 18 rec*ibvJ the eyAe rx. rfo•rfw, o*ty tr•• The th￿ty has th8 lh* it ￿ onty aL*¥Ay. tr* Chroty•n t•foi, •nd IrKw¢ from don￿¢￿1 •ndt*Anbkn￿ thibes 1$ in res￿ Exp8nOilure. l￿WIr￿j imKo¥w3t4e VAT. is wh8n it L8 •￿rnY rx. ife8rfi¥, a W1 ryconytDJthve oNlo8￿n fer Psym￿l arlses provided that it is seiuwthil %*ll be r1¥uK￿l and trt amwit of LW'c¥) ¢an ￿ measured The tharity mak88 gr8ftts to cAher Ins¢httrtK￿ and *)JMduals ie luther its i*athabk8 c*"K*¥es. Gr￿ts p3yaNe are T*X)ynisad construcb¥e oWvJabons anse. ge￿lY ¢hanty exrrt9$805 a to the tE(xF¥enl that can té mea8ur•Y The c05t of fLY)d8 is nol 8ionrfKanl¥d hBBntst beefi $4wratdyd￿0￿j. The Charifjes SORP requires chanties ￿ irxx¥nÈ £g)),t#x) to to ￿ vwicw thrbts uThJerfaken by th thwity. The natu￿ ot of the L*aritylthuNth bè so ffttsgrated Ihlt lh2 L**rkt48 8(*wty Costs are Govemance costs, are IndLthd in exrwthure on charitswe thbe5 Ixrt are i￿tified separaiety note5 to the tycrnunts. inGWBs 8S80C*d wlh tr* txaminatoi of the firWKl￿ #al￿ents, cornr￿￿¥￿ £vnstsbJbun¥l P￿12 GRACE LONDON NOTES TO THEACGOUNr¥ FOR THE YEAR ENDED 31 IWH W2 Acc¢uThtin9 PokiTrB (cont￿￿￿￿ nbn General funds 8fe unrgstrthd fiJTrJs ¥*Kh at tr% of fv trusw in fvJrtt￿nCe of ￿ 98neral obJ'ethv8s of the charity. frJT¥Js crwise unr8*Jthl furth th81 have t*Bll set asth ty ts ITu5tees for p8rbcuL8r Irdude Cbnal￿ns rec*iy•J kn *p￿S vyfic fithids are donati￿$ thai are rthn8d as Items wtthasd ot d￿•t•￿ fr)r the cs8t wthe fair value of doTwtsd itsms, is mre than £5(N) afyj Tr rtjm 1$ tts benefft than ￿ ￿e￿jn￿n9 Fertsj. OeprerAalion is charged on a ¥traKJhl lirrf baTA8 50 85 ¢knffj el each asset to rt8 8Sbrn*•J Irf any) over its O¥PeGknd EquikNMnt I￿ra 10 7 >*ar¥ dic4t8 th4tth8 thnq rroy ry>tb8 The charity operate5 08fine¢Y hy ￿￿¥￿￿•. Ot4Wtiw ts) tr*¥e scts*nes IndBpondenOy administsr¢d fiJnd& income. Tho thaiitys fir￿￿jaI I¥¥￿ aThJ finarwi Wl •$ ￿￿C 88 by FRS102. Éxc*pt for loans. C￿di10￿ an¢ d8btrJrn arè rr*￿ed at th•ir •xpethd ••Wern￿l IrThrn•ly thè art￿01 ￿ cath tho charity oycts to p•y or r•c8Nel. ￿ ch8rty recoqni8e8 Iithlitts of trlat r*ma￿l ¢￿t4*AndIng •* th• y•Ar •nd li O th• IwbllilN8s 8xd￿5ny Intef•¥¢ ts)8rg•ab￿ on in fvlwe ywsl. The Iru$tees do not uJn&thr ilat are ￿Y e¥tsmAts￿ •t the balarw thiei dat* M coukl Danations olc88h aThl $miL8r 48S,SI0 409.048 20.701 499 292 P42 13 GRACE L¢)NDC*4 NOTES TO THE ACCOUNTS FOR TrEVEAR ENDED 31 IAARGN 2022 Charltabk•xpAndknY• 2021 c￿ts incurFvd dirKty on spKlfir Books & Tr&nino Matsri ConferenLY Fees Confeienc* Fcthy & A*eomns>J*bcn Ctrop5 General Ewen88S osplalrty Food aNI Dri Pastoral Meetyngs Ewse5 P￿athin0 HonornnLrn% Hwtydty RBnt 630 1,796 10,554 3,257 25,807 1,010 I￿6) 1.402 1.691 79 1.046 24,095 34,330 1,958 52. 49,766 147 479 63 283 c￿ts InGUFrqd on •upport& adffl1nI•tr￿n Govèmanctr costs Indewndenl exan￿n0￿￿teO 2.100 4,080 2,100 B8nk F••8 D8wed8VM Exp• Employtrn NAtiC￿ If￿￿r Insurance IT So￿are and Censumabbs 2,277 8,597 14,083 1,214 4.917 1,340 8,136 10,164 1,222 15,￿4 2,757 11,915 penS￿n8 Postage. Fr8iaht& CtyJrier Profes*ts￿l Prinbrvj. Ewlprwt 13.829 2.670 2,833 1,788 148.938 180.088 541 Teth. Audio ￿sU11 Burwt Staft ExFen5es 81wVowry •n(l Offi¢¢ &pF41•s T•l•ph¢)no & In￿Met Trnval. IntemOti1sMI Tra¥el. Nal*Jn4 1,1C¥J 1.670 817 1.313 1.708 248 436 137 Totsl wpgrKl#yr• 395 915 The fee pllyab￿ 10 ts indèpwdent l)• É3.8ty)12Q1.. £2.1ty)I', in ￿1￿0￿ th¢ charity wd £63012021.. É150lto StW8rd8hip for r£ffjxdt4rKy w¥ Pw14 GRACE LONDON NQTES TO THEACCOUNTS Fcfe YEAR ENDED 31 IIARCH 2122 Charttablo•xpend￿UIv 1coniinu￿l Grams payab[8 1ncjuded￿th￿ thefigweftrGrant8& Gffl5in nc*4a fc4k*w¥.' 2022 42.451 42,4S1 6.￿9 8.000 48,4S1 48.451 Ins*ttJb￿s Inthvidu*s 2021 Grantsftr UK￿ rnisshjn 24,920 24.520 9.410 9.410 34.330 34,330 2022 2021 Athance Ne￿￿k UK Advance Netwuk Gkkn ope Churr* Vauwhall Emtrbanuel Chur Grwrwj Chur(*. Ar￿a Covwj R￿￿f cOrryn￿ Gr(xJrxl Churth. Madagasrgr 33.451 6,380 2,971 6.000 42,4S1 24,920 2021 GrosSW8gesand sal¥ 180.D89 14.083 13.829 208.ry)1 171 015 The aver&Je mcthly number of amp￿￿$ (#Jrir#J ts JEar was 6.9 13)21." 5.41. Pknt (rf the *bwtses are carried out by oluntsers. 148.936 1D.164 Pen￿￿ thariws key management crmw* truths ar¥J thp W stsff oam&4 the Chatity Inf￿b￿ pagB. Tow empluymenl benefits pay8tle lo keyman•3emBnifurts year weas Wy5% 2022 Andrp* Ha819m 5,280 4.400 71.280 59.400 130.680 ,000 The folknwngaMtyJnts￿re payth￿ W•Jes & pe￿r Trustees." Andrew Plaslam 59.400 51,300 110700 47.500 15 GRACE LONDON NOT&% TO THEACGOU14TS FCII THE YEAR ENDED 31 MARCH 2022 Tangib￿ fixed as¥ets Fiktijres. ngs aThJ uipttEnl Total 20 At 1 ADril 2tr21 A￿￿ti￿$ At31 2022 42,105 42.1 44,027 44,027 Aoxynulated dwe(iat¥)n Al 1 Apnl 2021 Charge fr*the year At 31 Marth 2022 .510 8.597 39,107 30,510 8,597 39,107 Net W val At 31 March 2022 4.920 At 1 April 2021 11.595 11.595 Debtors 2022 2Q21 Falling duetthln oney•ar Tax re(x)v¥abbe Ttyde debtors Otherdebtor5 Prepayments iruxne Tow debtots 11.155 21,n8 14,101 3.268 29.601 Cash at Bankand ￿ Hand 2021 Cash at bgnkTrhith imrredk* 487,520 290 372 Crwditors.. Ik3bilrbestalliw dfftwithin Or￿yeAr 2022 2021 4.10 Gtyttoblvaati￿S 3.508 fj.301 15,130 8971 14,9 10 Ptytslon cofflmitmerts sion stherw No b**V2 5￿t￿8￿ (2021." £6QI. 16 NOTES TO TrIEACCOUNTS FOR THE VEAR ENDED 31 IAARCH 2022 11 Funds in the yeaf 20rd b8kgDce 2022 2022 DoW78led Furtls Gen¥81 reseryes &ving tOAd￿￿ Want￿Try Mercy Furwj Warchest r grant gMIVJ 35.fy)1 12561 10.475 (211 33.707 110,475) 27.151 27.151 34.986 (33.4511 70,641 115.Cts)I 88.910 148,4511 1338,0991 77.513 117,978 215.807 189,1831 374,517 TotA UrrfulrfL*d Futh(l• 304.717 1388,$501 492.495 t rnllll8trylhJr +brty Fund 1,488 10.475 150 (9.1751 4,131 14,416 11. 1S0 (9.3851 11,871 14,416 Aggrty4to 316.67T 586.148 1395.9151 806,911 al Fundsare transferr*J Unre5trK*d Fw19kn Deyonattrj FL￿￿f￿￿o wrwB88 c4gMrvJ to thb klovornenl il¢Jlno a War c*)8rcauwb•W ywjrL￿n80f thechaW5 Irwr•. l The ￿t ministryfr￿ thJrfrvJ ¢k•&t"Croar•Wrt*￿Kthd 0efi(Jt¢je￿ frcrfTr unr•strKaod fLThI$ AN•￿1* of n•t ••MIg bylund TI* and lig￿liteS olih• VArIf￿$t1￿0￿OIf¢1tsYrt' fuThJ8 2022 Tarsiblefixed a¥ets Debtot5 Cash ai bankand in Credilrystslliw ¢Y￿wIthn c¢* 4.920 29,601 487.520 115,1301 29.601 355.12 115.1301 117.978 14.416 374.517 117.978 14.416 506,911 17 GFIACE LONDON NOTESTOThEACCOVNTS Fcft THE YEAR ENDED 31 IAARCH 2022 11 Fund5 (conyn￿d) ow.rg Ir%3JniwJ Outyxng T￿SferS in theyear 2021 C￿J￿ng bgan 2021 2)21 2021 2021 23.557 12561 15 11,429 15.949 35.OD1 12561 10.475 43.690 Giwn9 to AdvarN* granifur Mercy FLThJ War Cf (XhergrantgMrKJ 115,9491 13901 10.865 43.690 17.971 23.￿1 10.880 134.310) 89.D39 86.910 66.661 476.462 (238.29n {89.D39} 215.807 B9.982 487.342 1272.6071 3D4.717 Re*tik*d FuThYs Sall rThnistry IlurKI Furxl 1.1(X) 10.865 1,485 10.475 1390} 365 11.965 13901 11.960 499.X Z99n 316.6TT Anatysis of netttssetsbyfrthd Inthtr t*evK)us wr. the assets8￿ liaL¥libes trftr* Y**xtsfiuxts￿easfdkA¥s. Gwwal Restyicieis fun(ts fiJThls 2021 Tangl￿8 fixed asse Debiors Cash al bankatsj in hand Creditors falliThJ dlewtrin r￿e yr 11.595 29.695 189.502 114.9851 11.595 29.695 290.372 114.9851 88,910 It. 215.807 88,910 tl,960 316.677 Paje 18 GRACE LONDON NOTES TOTHEACGIXINTS FOR THE YEAR ENDED 31 MhRCH 2022 11 Fund5 {cothnt*d) GeN￿al Resewves Fund." C￿tir￿Jen1 furkys fty U￿ fina[¥)￿ The use of trÈ5e funds are yoveffted ty the trustees, reser¥es WILY. *tuch tarpts a of an avrye L* 1 5 mLY)ths of payyoll and rent payrrents, Giwng trIAdVan￿ gr8ntfvThY." Funds dpwgr• forfLdfilling Ttu*ees' wrvj tl&SJe tc S￿[xyt fir4Naally. the Advance NetW(￿k,5 operatsons In the UK and Intwnabcrtalty. Neitratsfers of£33.707*rÈrnade m FY21f22 IFY20t21". £15.9791 from 9ener fund$ into thi5 de*gnat&J trfiJffil pbJse5 in the UK aThJ Other Giwrtg grant fund" Fund5 de￿gnatell for fuffiiiing he Tnthe5' w￿￿r￿ry givrvJ tt) OTwisatsoths and Indi￿d￿lS In tr*ir owabons to further th'ecbves wth Gr¥t LL¥Kkn'$ w are b2nefiriats¥ of support as thstsrrbed bylhe Ttustees Net tsansfers Df£27 151 we maae in Ff21f22 IFY20f21 £17.9711 fft*n gerwJ frJrvJs ts) tri8d8*gnabJ fijnd tofu￿1 dl%xebc￿￿ry to thewisats)ns * inthvKAJal. Sait Ministy fvrK1.' FLtrvJs began t•rwJ ￿lI￿J in FY18119 aTrJ are res￿1 kx#pose of ts sa￿ amir¥ lo engaotr Londoners on i￿ueS of fath. Wloscply and lrfe thrw and (x)urses. With the fiwrshirw of ihts rr￿nisty ar expenditure ¥Agnffi(*y e¥LYednJ Wd5 frcm gerwal furvJ5 to rkne rethtfyy fvnd at thÈ end of b fin3nual w. rw Fund". seknp in 2020tr h￿p an￿￿thE￿Wrth and Y4)pcrt 12 Tran5actioll* with related Wti05 theyear ts chatty. al [￿1Ved dorthons ￿j.074 I￿21. £65.gXTrI relatsl rxbes iTr*JJes knu*xs. any Lther rremters of bl paid no expenEes12021.' £0) to. trfur, Ihetyuaees **lIst(xrr￿r￿ tyjtdutss a￿<7￿￿}￿1￿ b*NJ trustees.. ramtwvsementsfor seNny asa tru5teeare not IJNS P*Je 19 li- I