REGISTERED CHARITY NUMBER.. 1161147 Rewl al the Trus1￿ arKI Aud*ed Hnancial Stalemertts f¢x thè Year Er￿ed 31 March 2025 Grac• london Brewers Ch(Ylered Accounlants1Stotulory Audttrorsl Unit 3 8K1￿Y Courtyord Bromley Surrey GU50LA Gface London Contents otlhe Financial 51alemerts tor the Year Ended 31 March 2025 Pogè Reference and Admlnlstralfvè Deta￿5 Rèwt ofthe Trustee5 Repryl of the Independenl Audlo Slalemènt of Flrlancial AclivRles Baluncè Sheet io Cash Flow Stalement Notes to the Cash Flow Statemènl 12 Not05 lo the Flnanclal Statements 13 10 22 Detolled Statement ol Nnonclal AclNRles 23 10 24 Groce London Relerence and Adminislratwe Detal lor the Yeor Ended 31 March 2025 TRUSTEES Andrew Halom Luke Booidmon Huw NewtorFHlI I Ire5tyJned 20.5.241 Paul Nicholag lapwnled 20.5.241 Ih0rn05 Wheattey PRINCIPAL ADDRESS Unit 6 IA>62 Clopham Road Lor￿On SW90JJ REGISTERED CHARJTY NUMbER AUDITORS Brewers Chortered Accountants (Statutory Audrlorsl Unit 3 BirNey Coutyord Bramley Surrey GU50LA BANKERS CAF Bonk Limited 25 Kings Hill Avenue Kngs Hill West MalirKJ Kent ME194JQ CCLA Fund McN)ogers Linited One Angel Lane London EC4R 3AB Poge I Grace London Report of the TrU￿te$ for the Year Ended 31 March 2025 The trv5tee5 present the￿ repc¥* with the ffnonciol d(rtements ol the chority foT Ihe yeor ènd&d 31 Morch 2025. The tmslees have odopted the provisions of Accounting (￿d Repcyling by Chcrrit&s= Slolemenl of Recomrnended Proctice applicoble to chorilies prepamg thwi accovn15 in occordance with the FinancKJI Reportiry Stondord opplrable ITF the UK ond Republic ol Irelond IFRS I(Y21 leffectNe l J￿uary 20191. OBJEcfivES AND AC￿VITIEs Objecllves ond olm5 Groce London cariies ovt a Nmber ol aclMtE5 in (￿der to odvonce the c￿StIan foith for the benefft of t public Ithe Object'l. primority by means ol church semces ond other pU￿1C events, presenting thè messoge of tho Christion loith ot live events and published miJleriol. Thè charity also support5 olheT indNidua15lorgani50tions èngoged in the same Obiecl. Pubnc benefft The Trustees have compfied wth ther dLrty lo hove due regryd to the guidonce on public benefrt published by the Ch￿ty Commission in exeicising Iheir powers or dut￿S. ACHIEVEMENTS AND PERFORMANCE Chgrituble odivrliès To hJrther Ihe objects and ￿K)n of the Church. tts Church-s morn activities were- Core Aclivlll•s.' the Church continued to undertake its regulor Core ¢xtivthes. com[￿S1ng. 11 I three seporale weekly Church Services. held on Sunday momings ond evenings. con51Sting of exp05itory preo¢hing from Ihe Bible. ccwate sung wwhip prover, of the Lord's Supper and chilthen'5 miniilry 1'5ervi¢es"I; 121 weekly community 'Lile Groups. where p&ople golher lo shore food and fellowship ond study the Bible and proy together.. ond 131 monthty corporole prayer and wc¥5hp meetir¥Js. Our thrd weekly Chwch service wos lounched in October 21Y24 in Holbom. Cèntrol London, re5Utling in the Church running three service5 acr055 two locotions. These core octivities reflect our desire to bè a genuine comrnunity in the city ond to preach engoge with Chri5t'5 rodical demands of If15cip￿5hlp. Foundot5ons: Ihe Chwch continued lo run o'FovndalK)ns' course wh￿h enob￿d church members to grow irTr th8ir Iheologicol understonding. Th￿ 9-week COLYse ron over the yeor on T￿$d(ry evenings. Chlldren'5 mlnlthy." Children's ministry ci)ntinued at the Serwce5. We defight in seeing our children engage wtth the truth found in the 8ible and ore thonkful to oll of our chil(ken's Min￿try voluntee¥s who are so dedicated to the children. All volunteers were required to complete bockgrouTrd check5. hove troirmng wilh the children's ministry ￿ader and conlini Ihew und￿tanding of ond commitment tts the Church's safeguarding pohcy. Poge 2 Groce London Report ol the Trustees tor the Yèar ErKled 31 Algrch 2025 ACHIEVEMENTS AND PERFORMANCE E¥gngelism'. the Church continued in its efforts lo shue the good news of Jesus Cthst WTlh those who do not know him. This was principaly done I￿Ough.. I I I 'Sdt Live. event5, where Londoners from dl wok5 of ¥fe come together and engoge foce-to-face on motters of faith and philosophy1'5olt Lwe'J-. ond 121 the 'Sall Course,, a course designed for wonliThJ lo exrlcxe lrfe's big què5tion5 from a Christian perspective Ilhe'Soh CoLwse"l. During the yeor wè hosted two Solt LNe events on the toprs of Tr Case Agcan5t seculc￿$M, and 'How to be Human in the Digital Age,. We atso h051ed hyo Satt Courses. The year was a fruitful tine. C￿ Gc)d continued lo move in the cP￿reh c(xrmurwty. tkjring the year, 15 people were boptised. All glory lo God! Olher ActrvÈlie5.' The Church orranged o number ol events ond away-days dL)ring the year which (¥e an opportunity for Church membets to gtslher together. deepen relotion5hips. enjoy times of corporate sung worship and prayer ond heor exp05itory preaching from Ihe Bib￿ ondlu receive Ir(ining from the E￿er$ or other leaders. These events included.. I I I three women's min￿lry events. ncluding o day conference. 121 three men'5 miriistry event5. ir)cluding o retreok. 131 Week￿ rnum'5 goup, 141 the Ctly Fellowship. o dtscipleship course focv55ed on understanding God'5 purpose for woth ond151 supportyig the Webber Street diry centie by orgonising monthly meols with o gospel talk. The Church also wrote a number ol songs lor the church membeT5 to siThJ ot vorious g(Jlheriru5. One ol these songs, 'Crucible'. w05 recorded ond releosed onlo streaming plotloms in November 2024. There were olso, as a￿aYS. mony infomoL one-l£H)ne d￿Cl￿es￿p meetings as well as other od-hoc meetings happening throughout the year. Relalionshlps wlth olher ehvrches ond IndNkluals The Trustees believe Ihot the objects ot Ihe Church are best acCompl￿hed ￿ relationship with other churches and people Ihiough movemonts such as Advance. Advonce 15 0 globol movernent of churches portnering together to advance the good neY4s 01 the Christion fc4lh Ihovgh plonling and Stre￿then1I)g churches IwwN.odvoncemtsvement.coml. The Church hos con*nued lo benefit from its rel011￿Shlp with AdVa￿e during the yeor. The ChLYch continuè5 to enjoy infomicl but close ielationships with other churches ond indiwdual Christians around the worfd. FINANCIAL REVIEW Financlol posllion During the year income increosed by £T92k to £1.084m. ond expenditvre increased by £410k to £1.091 m resulting o deficit of £8k la dècre05e of £281 k from the £273k surtAus bst year). The chority's net ossels decreased to £985k Inel current assets £949kl. Income in the yeor was predomirnont￿ due to the generous donalions of the Church community. which increased sub5tontially mainty due to the numericol growth in the ohendonce. Expenditure 0150 increo5ed during the yeor. with a Church weekend cjway in June 2024 being a signiftanl conlTibutK)n, ￿ well as increosed stoffing costs. The increased giving was less than the ir￿reaSed expenditrure resulting in 0 Small deficit in the yeor. Total grants and gifts by Groce Lond<￿ to mi5SK)wry ond chortFatAe couses W05 £87k Ilosl year £53kl. £27k1£33k last yeorl went towoids 5upr)orting the work om<)ngs1 the chLYches in the Advance ne1work. £40k wos given lo stockwell Baptist Church. £IOk was gwen to FAST London ond £1 Ok wa5 gwen in other gifts lo mission in thè UK. The Trustees policy lo give oway l 0% ol income eoch ond any Ur￿penI money is corried forword. Tre Charity continued to Fyepore its accounts using the occrvols b0515. Poge 3 Groce London Report of the Trvsleè5 tor the Year Ended 31 March 2tr25 FINANCIAL REview ResèNes polky The Trustees have delemined Ihot the Chority 5h(xJkY oim lo hoky unrestricted re5erve5 of appro￿rNoteIY three months ol puyroll and rent expen(Stuie. which equotes to cyound £2(M),(KA). Thi% level of reserves is considered Sufficient to enoble the Chottty to continue to operole should income or expen(fiture vory odversely. Al the year end. the Charity held unrestricted ¢ogh 01 £754.847 ocross the Generol fund & Designoled Generol Reserve. Thè Tru5tee5 COn5idei thol the Ch￿Y it therefore comptying with rts reservè5 r)oicy. Key rlsks gnd uncertalnlles Tre Charity ￿ exposea to vtrious risks - be they operathyyjl. finoncid or reKxJlalionol. Tre Trustees review the charify's activities regularfy to identify sunificant rtsk5 and. where p055ible. they lake oppropriole meosures lo mitigole those risks. Of porticvlisl ngte. the Trustees ore conshstenlw monitoring s¢JFeouording risks and maintains it5 5aleguording poficy orKI troiniro schedule up lo dale. FUTURE PLANS Our hope for the lutvre is lo st(rt many new churches. ond to continue the slow and deliberate work ol helping eoch per50n who comes through our doors cftscover more about Je5U5 ond am(￿ng life and find themselves amidst o family in the heart of the cty. STRIJCTLIRE, GOVERNANCE AND MANAGEMENT Gov•rnln9 document The chority is contr￿led by its govemng documenf. o deed of trust (md constitutes an unincorporated charity. Charlly conslltutlon The Chorily ￿ o Choritoble Incixporaled Orgornalion and is govemed by its conshtulion wh￿h was eSlabl￿hed on l April 2015 los omended on I l April 20211 Ithe"ConslthJtion'l. The ChLKch's Stolemenl ol Faith ￿ oppended to the Constitution i4 set ou* on Ihe Church's websile lgrace.londonlslolemenl-ol-laithl. Indvcllon ond Irolnlng ol new twslee5 The Constitution provides thot new chority twstees wil I be appointe¢Y by the 'Member5" of the Church los th(rt word is defined in the Con5titulion. beiThJ the Elders ol the Church) Iclov5e 131. and new charity trustees will be provided with a copy of the Constitution lond ony amendments lo ill os well 05 he lotesl trustees. annual report and slolemenl of accounts Iclou5e 141- The Tivslee5'. Throughovl the year. the Trwtee5 were Anth8w Has￿m. Luke 8wrdman. Paul Nicholos and Thomas Wheatley. Legd Pa510r." During Ihe yeor. Andrew Hoslom conlinueé lo be employed a5 Lead Poslor ol the Church. The empkiyment ol Andrew Ho51om. who is also a Tnjslee, ￿ in aCcorda￿e with clouge 6 01 the Constitution I'Benefit5 and poymen15 lo charity Iruslees ond connected pet50ns'l. Andrew Hosbm's employment ond remuneration do not rebate lo his rde 05 0 TTU5tee of Ihe Church. Decision moklng- In occordonce with the Church's Constitution. the poficy and opèroting deciskYY of the Chvrch rest with the Trustees and. ultimately. the 'Member5" 01 the ch￿ch. The Ttuslees communicate frequently and meet règularly lal lea51 quarterFyl lo discu51 ond Monti￿ the aclNilies of the Church. However. mony ol the day-ltrday re5pon5ibilitie5 in the file of the Church are delegated lo the Church's stoff team ar￿ volunteers. Flnonce: All linonciol poyments from Ihe Church's online bat*ing focilty with CAF Bank require voKdotionlouthorisation from o second member ol the Trustee and/￿ ￿ance teoms. Sddo prepaid cards are used, with indivKlual payment limits. as an added security meosvre. Page 4 Grace London Report ol the Trvstees loi the Year Ended 31 Mtsrch 2025 STATEMENT OF TRUSIEES. RESPONSIBILMES The trustees ore re5POn5ible for preporing th& Rep(Yl of the Trustees orKI the financiol gtotements in occW Stolement ond notes lo Ihe fjnoncial statements. including o 5ummory ol signiffcont occounting policies. Ihe finonciol reporting fvamework thot has been applied in their preporotion is appficoblÈ ond United ￿ngdoM Accwnliro Standards Iunited Kingdom Generolly Accepted Accounting Procticel. Wé weré unable lo oblain Sufficient oppropriale audtl eVIde￿e Tegar(fiTYJ the opening bolances as ol l Apri 2024. In ovr opinion. except lor the effects of the motteT descrbed obove. the finar￿101 5totemenls: - give o true ond loir view of the slote of the chcY5Vs offoir$ 0$ 0131 March 2025 orKS ol its incoming resources ond opplicolion ol resources. for the year then ended.. - hove been properly prepared in accordarte wiFh United Generoly Accepted Accounting Practice., ond - hove been p￿pared ir) occordonce wlh the requirements ol the Charitie5 Act 201 i. Basls loi op5nlon We conducted our auifit in occordonce with Intemolionol Slandord5 on Auditng IUKI IISAS IUKII and oppli¢oble law. Our responsibilities under those stondords ore further descnbed in the Auditors, responsibilitie5 for the oudil of the linonciol stotemenls section of iepul. We ore independent ol the charity in occordonce wrrh the ethical reqU￿eMentS Ihol are relevant to our audit of the fnancial stotemenls in the UK. including the FRC'S Ethicol Slondord, ond we have fulfilled ow other ethicol responsit4lities in (Jccordarnce with these Tequiremènts. We believe thot the ourfit evidence we hove obtained ￿ sufficient ond opprwale to provide o basis for our opin￿n. Conclusions relaltng lo goln9 concem In audiling Ihe financial 5totements. we FKwe concl￿￿ed thot tW51ees' use ot the going concern ba￿$ of accounting in the preporolion of ffnonciol 5totemenlg is apFKopriote. 8osed on the work we hove performed, we hove not Klentfied ony m(rterial uT￿ertainl1e5 Teloting to events or conditions thot. 1TTrdr4iduol￿ or colleclively. moy cast signific(￿1 doubl on the charity's obilily lo continue 0$ o gcxng concern lor o period tsf ol ￿0$t hvelve months from when Ihe firionci01 slolement5 ure outhorised for issue. Our responsibilities and Ihe re5ponsibli it￿5 of the ttustees ￿th respect to gn inclvded in the Annual Rep(Yf. other than Ihe financial slalement5 ond our Report of the Independent Auditors thereon. Our opinion on the finoncial stolemenls does not cover the olher information and. except to thè extènt otherwise explicitly staled in our report. we do not expre55 any fomi of ossurance cortlusion thereon. In connection wTkh our audit of the rn0￿101 statemenls. our respw6ibiSty i% to rèod the olher inlorrnation ond. in doing so. consider whether the other inf(Krnation is moleriolty incon5islent with the financial stolements or our knowledge obtoned in ovdit or otherwise oppear5 to be moterolty mi55toted. If we identty such moteriol inconsistencies or appcyent material mis5totements. we (xe required to determine whether this give5 rise lo a maleriol mi55totement in the finonciol 5t(rtemenls themselves. 11. bctsed on Ihe work wè have perfomed. we conclude thal there ￿ a moterial m￿statement of thi5 Other lif0m￿tIon. we are required to report thirt foct. We hove nothiw to rèport in this regard. hlatlers on whlch we are iequked lo repryl by èxc•p*ion We have nothing to repcrt in respect ol the following m(rtlers where Ihe Charitie5 (Accounls and Report51 Regulolions 2(Y)8 requires us to report lo you if. in our opnion-. the informolw gNen in the Report ol the Trustrees is nconsi4tent in any moleriol respect wth the financial 5tatemenls-. or sufficient accounting records hove not been kept: or the fir￿nCIal 51otements ore not in ogTeement with the accountiro records and relurn5-, we hove nol recewed all the intomation and eXplor￿lI0n5 we ieouire for our audit. Poge 6 Report oflhe Independent Audlors to Truslees of Grace London Responsibilittes of ITU3tees As expbined mole fully n the Slolement of Irustee5' ResportsibilitEs. Ihe trustees are responsible lor the preparotion of the linonciol stotement5 whth give a true ond fair view. ond tor such internal control 05 Ihe trustees determine is necesscry to enable the prepoTaknon ol finoncial Statements th(rt ale free trom moleriol mi55talement. whether dve lo troud or error. In preparing Ihe financial statements. the trustees ore responsbi le lor osse$5ing the charity's abli ify to continue as a going concem. disclosing. ￿ app[cat￿e. matters rebted lo going concefft and ￿1rng the going concem basis ol occounting unless the trustees either ntend to liquKJote the charity or to ceose operations. or hove no realistic oltemalive but to do so. Our responslbilttles forthè avdil ol the financlal stolemonts We have been appointed 05 ovrfrtor5 under Section 144 of the Charities Act 2011 ond report in accordance with the Act ond relevant regulations m(KJe or hoving effect Ihereunder. Our objectives are lo tsbton re050nable ossuronce about whether Ihe finonciol statements as a whole ore free from material misstotement. whether due to fraud or error. ond to I￿Ve a Report ol the Independent Auditors that inclvde5 our opinion. Reosonoble ossuronce is o high level of o5suronce. trxjl is not o guarontee that on oudil conducted irn accordance with ISAS IUKI will oWays delect o moteriol misstatement when it exists. Misstotemenls con arise Iiom fraud or err￿ ond ore considered material il. indiwduolly ￿ in the aggregote. they could ieasonobly be expected to influence the economic decisions of Use￿ token i)n the bosis ol these linoncial slalements. The extent lo which our procedures ￿e copablè of detecting uregutstlies. fftclurfing fraud is detailed below-. Irregulcxilies, inclucfing fraud. are instonce5 of norFc0mr￿lon¢e wtlh law5 and regukntions. We design procedures in line with our respO￿lbilIties. oullined obove, to defecl moteriol mwtalements in respect of irtegulorilies. ncluding fraud. These rnotters were d￿cussed QrnQTvJsI the engogemenl team al the plonning 5toge and the teom remoined alert lo nles Ic￿M port ol these finoncial statement5 Pogell Groce London Notes to the Cash Flow St¢Jlement for the Yeor Ended 31 March 2025 RECONCILIATION OF NE[ IEXPENDITLIAE)IINCOME TO NEI CASH FIOW FROM OPERATING ACTIWTIES 2025 2024 Net (expendllure)Ilnc<>mè lor the repothng perfod {05 perth• statement ol Finonclal Actfvhies) Adjuslmenls for. Depreciotion charges hterest received Increase in debto IDecreasellincrease in creditors (7.672) 273,289 5,892 (11.425) {13.191) [148) 2.231 12,6521 152.3671 2,317 Net CU5h {u5ed In)Iprovlded by opwallon$ 26,544 222.818 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 C(sh Now Al 31.3.25 Nel cash C￿h al bank ?34,0?i 47.63 886.454 934,091 47,637 B64,454 Totol 934.091 47.637 886,454 Ihe notes fcym pcyt of these financid 51atemenls Poge12 Groc• London Notes to the Finoncitil Stotemonts lor the Year Ended 31 March 2tr25 ACCOUNTING POLICIES Basls of prepartng the financlol st¢rtements The lin(ncial slalement5 have been Pfepored urKler the historical c051 conventw. The financial slotement5 have been prepared in occord(Jnce with 'Accounting and Reporting by Chorities- Slalement of Recommended Practicè oppficablè to charitiès pieparing their accounts in Occordar￿e with the Financiol Reporting Stcndord ar)rAl¢ob￿ in the UK and Republic ol Irelond IFRS 1021 (Second Editionl, and Ihe Finoncial Reporting Standord Op￿￿oble in the United Kingdom and Republic ol Ireland IFRS 1021 and the Chartlies Act 2011 ond UK General￿ Accepted Practice os it applies from l Januory 2015. The financial stotemer)Is hove been prepored to give o 'true ond farf wew and have departed from the Charitie5 IAccounts n volunteer5 to carry out mony ol its octmlies. However, in accordance with the SORP, the value of these services has not been included in these financial slotemen15 as they cannot be reliably me05ured. When donuled goods. 5wwces (￿d locTI rtie5 lye distftsted ￿ consumed. ori expense in respect of those item5 is included in the Statement of Financiol Activilies. At the year end ony gocxts Ihot hove not beèn distributed or consumed are recognised as stocL donoted fixed assets ue copitdi5ed. Iiil Legociès_ Income frixn legocies ￿ recogni%ed when ¢ distribution is received from the eslolo or, rf earlier. when the chortty has been notified that o distribution wll be made and the omounl receivable con be measured refiobty. Income from charitable ocliwlies represents in¢ome receivable from goods. Services and locilities supplied in furtherance of the charity's choriloble objects. It includes income from church retrÈat5 and other events ond courses. Poge 13 conlinued... Grace London Notes lo the Fil￿ncIal Statements - continued lor the Yeor Ended 31 Moich 2025 ACCOUNTING POUCIES- conllnued Income Investment income represents ir)come generated by the chority's assets arKI inC￿deS income from ar)d bonk interest. The charity has taken the view Ihol it h(￿ On￿ onè ch(yitotJe octivily. nomety the odvoncement of the Chrittion farth. ond dl incomè from donobons. leg¢xie5 (nd ctrK¥itoble actiwties is in respect of this one aclivify. Expendllure Expenditure. incluLfing irrecoveroble VAT. is recognised when il ￿ incurred or. if eodier. when a lego1 or constrvctive obligotion lor o poymenl arises VOVKled Ihcrt it IS Probable that settlement will be fequir8d ond the amount of the Dbligotion can be me05ured reliobty. Expendilure is oc¢ounted lor on an accruals bosis and been C￿￿1￿ed under heacfings thot oggregote oll cost related to the category. Where costs cannot be directly (rttribuled to porticukir headings they hove been ollocoted to activities on a bos consistent with the use ol resoLwce5. The cost of raising funds is nol 5ignficonl and ha5 not been 5eporatety d￿ck)Sed. The Chorilies SORP requires charilie5 Wtlh income over £5(XI.(XK) to allocote costs lo the various actr4ilies undertoken by the ch(yrty. Tre nature of the work of choritylchurch ¢onsidered to be 50 inlegraled thot the core choriloble activity c05t5 ore consKlered to be lor the one octivity. The chcxify makes gonts lo other in51itutions ond I￿￿￿d￿01% to further its chorttable objectives. Grants pCw0b￿ are recognised a5 construclNe obligotK)ns orise. whih is generally when the charity expre55es o commitment to the recipwl that can be measured relKJbty and then onty lo the extent thot any condition5 0SSOCKlted with the grant are outside of the control of the chortly. Grants offered subject to conditions whth hove ml been met al the yeaT end dote ore noted os a commitment bul not Qcctued os expendituie. Tangibl• ILxed a55èts IteTMS purchosed or donoled for the chority's own use ale copitolised when the c05t of purchased ilems. or the loir volue ol donaled itetns. is more thon £XY) and the item is expecled to benefil the chority oveT more thon one occounling period. Deprecic¥kion is charged on o straKJhl line bo5i5 so as lo write down the value of each as5el to it5 estimated residuol volue lil anyl over tis expected vseful economic life. To achieve this objective the followng rates of depreciotion ore chorged= ftxtures. fillings and equpment- ot varwng rotes on cost. bÈ1ween 3 to 10 yea￿. The corryiry volues ol langbi le fixed assets ole reviewed for impoumenl in period5 when events or chonge5 in crcvmstonces incfiole that the corwng va￿e moy not be recoveroble. Toxation The chority is exempl from tox on it5 choritoUe oclNil¢es. Fund accounlFng Unrestricted funds con be used in acC￿dance with the chfitoble objectives gt the discretion ol the trustees. Designated funds comprise uNestricted fund5 Ihol have been gèt oside by the frustèès for porticuloT purposes. ReStr￿ted lund5 con arn￿ be vsed lor PCThcular restricted purposes within the <)t>jects of the chority. Restr¢tions arise when specrfied by the donoT OT when funds are roi%ed lor particular restricted purposes.. they inclv¢e donolion5 roGeived from Opp9a￿ for 5pecTfic octNitie5 cw projects.. Page 14 continued... Groc• London Notes to the Finuncial Stthements- contlnu•d for the Year Ended 31 March 2025 ACCOUNTING POLICIES - conttnved Fund o¢c<)vntlng Further expbncTlion ol the noture ond purpose of each hjnd ￿ inc(uded in the notes lo the financial statements. Penston costs ond other post-rethement benefits The charity operotes o delined contribution pension Scheme. ContritxJtions payab￿ to the charify. perngion scheme are chorged lo the Stolement ol FinoncKJl Aclivities in the period to which they relote. The ctssels ol thèse schemes are held separately fr¢Jm those ol thi￿￿ty in ￿dependenIty odminiilered lund5. DONAIIONS AND LEGACIES 2024 DonatDns of cash arKI similar Incomè lox recoveroble 860.734 135.165 763.246 146.532 995.299 909.778 INVESTMENT INCOME 2025 2024 Bank interest 11.425 2,652 INCOME FROM CHARIIABLE ACTfviiiES 2025 2024 Activity Church retreats and evènts Church retrecrt Christian School Christion Scho 450,954 16.031 42,184 76.985 42.184 CHARITABLE AcnvmES COSTS Grant funrfno of acliwlies Isee nole Support costs lsee note 71 D￿e￿ Cosls Totals Choritable Activities 407.677 87.043 596,661 1.091,381 Poge IS continued... GFOCe London Notes lo the Flnonclal Slalements - continued for the Yeur Ended 31 Moich 2025 GRANTS PAYAbLE >)25 2024 Charitatje Activities 87,043 53,234 The total gronls paKJ to in51tlutions ckjriro the yeorwos os follows.. 2024 Granl for UK and over5eos miss 77,043 33,234 The Chority mode grants to in5ttPuti¢xfj tolallirYJ £77,043 12024: ￿.234).. being £27.0431£2024.. £33,234) to Advonce Network UK, £40,(KM) lo Slockwell Baptist Church and £lO.Cm to FAST London. SUPPORT COSTS Governonce COSt5 Marnogemenl Inonce Totals Charitable Actwities 574.960 4.790 16,905 596,661 TRUSTEES. REmuNERA￿oN AND BENEFlfS Trustee, Andrew Hoslam, received rernunerot￿ fu his ro￿ os Senior Posl¢y 0$ deloiled in note 9. No remuneration was received for his Trusteeship role. No other Trustees receTved remvnerotion or benefits for the yeai ended 31 March 2025 nor lor the year ended 31 Morch ￿24. Tru51ees' Èxp•nses There were no Irustees. expenses paid lot the yeor ended 31 March 2025 mr lor the yeor ended 31 March 2024. STAFF COSTS 2024 Wages and 501arie5 Sociol security costs Olher pemion cost5 431,307 44.356 34.470 316,513 26.815 24.665 510,133 367,993 The Church view Key MorKoement Personnel og Andrew Haslom ond Jeremy Moses. Andrew Hoslam seNed os a Senior Pastor and received o salary for 5eMng this role. nol Iof serving a Trustee.. these poymenls are permitted by the ch￿Ily5 govetnng documenl During the yeor Andrew Hoslam received salary of £82.9￿l2o24'. £87.2501. empk)yer notionol insLKonce contiibulion £IO.192 and em￿￿0Yer perGion contribution £6.￿6 I￿24.. £6,980). other membeT5 of key manogement received solary of £74.92812024= £67.0[￿). employer natunal insuronce Contribut￿ £9.085 employer pension contribution £5,99412024- £5.3601. The average Month￿ number ol employees during the ye¢yw05 os follows.. 2025 13 2024 All 5toff Poge 16 continued... Grace london Notes lo the Financiul Stalèments - contknv•d for the Yègr Ended 31 Morch 2025 STAFF COSTS- c<)ntlnued The numbèr of empk)yees wh¢xe employee beneffts lexcludyvj employer pertsion coslsl exceeded £60.￿0 was: f25 2024 £60,001 - £70.C £70,001- £80.0(K) 0,001- £90.(KK) io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACT]vmES Unreslricled furKJs Restricted hJnds Totol funds INCOME AND ENDOWMENTS FROM Donotlons and legocies 897.278 12,5CK) 909,778 Chathblè tsdlthes Chvrch retreot 41184 42.184 Investment income 2.652 2.652 Total 942.114 12.5Cx) 954,614 EXPENDITURE ON Charltobl• actlvilles Charitoble Activitie5 677.056 4.269 681.325 NET INCOME Translers between lunds 265.058 12.8891 8,231 12.889 273.289 Nèt movemenl In funds 252.169 21.120 273.289 RECONCIIIATION OF FUNDS Total funas troughl torward 707.189 12,416 719,605 TOTAL FUNDS CARRieD FORWARD 959.358 33,536 992,894 Poge 17 continued... Grace London Notes to the Finoncial s1atemeT￿- conllnued IOT the Year Ended 31 March 2025 TANGIBLE FIXED ASSEts Fixtures. fittings ond equipment COST At l Apri12024 Additions 34,806 32,518 At 31 March 2025 67.324 DEPRECIAIION At l Apri5 ?024 Charge for y6or 25.014 5,892 Al 31 Morch 2025 30.904 NET BOOK VALUE At31 Much 2r25 36,418 At 31 March 2024 9,792 12. DEBTORS 2024 Amounls falling duè within one ye￿. Trade debtors Tax recoverokse other debtors Prepoymenls and accrued inc¢)me 4.COO 28.522 8.542 33,982 22,827 18.724 46.686 88237 75.046 Amcwnls falling due oftrer more thon one ye(r. other debtors 14.824 14.824 Aggregate omounls 103,061 89,870 Page 18 continued... Groce London Note5 lo the Finoncial Statements - continued lor the Yeoi Endèd 31 March 2025 13. CREDITOR5: AhlOUNTS FALLING DUE WItHIN ONE YEAR 2W25 2024 Trade creditors Other creditors 8.788 31.923 11.548 29,311 40.711 40.859 14. LEASING AGREEMENtS Minimum letxe payments under noTrCanCellab￿ operuling leasès loll due a5 follows.. 2024 Within one yeor Betrween one and five yeors 48.125 187,436 59.269 212.394 255.561 271,663 15. MOVEhlENT IN FUNDS Net movement in fun(ts Transfers belween funds At 31.3.25 Al 1.424 Unrestrkted lurKIs Genèral fund Designoted Generol ReSe￿e Designaled Gving Io Adv(nce gront fund Designoled War Chest Designoted Other grarnl giv 745.301 71.248 75.70S (166.563) 29.156 654.443 109.404 (27,043) 27.043 48.233 106.] 36.709 154,333 41,118 959.358 (i 7.338) 2.278 Reslricled funds Mercy Fund Core Teom Fund CFwistian School Fund 950,298 25.>)5 8231 {4.I40) 1,862 21.165 {10.093) 13,759 13.759 33,5 3.066 34,924 TOTAL FUNDS 992,894 985.222 Poge 19 conlitujed... Gioc• London Notes to the Financlal Stolements- contlnued lor the Year Ended 31 March 202S MOVEMENT IN FUNDS . conlinuèd Nel movement in functs. *icluded in the gboye ue as folow5: Incoming resources Resources expended Movernent in funds Unrèstricted fur￿$ Generol fund Designated Giving lo Advance 9ront fund Designoled Ottier grant gmrg 1.067,678 1991.973) 75,705 {27,043) (27,0431 a0.¢￿) 1.067,678 (1.079.016) (11.338) Re51rldÈd lunds Care Teom Fund Christian School Fund (10.0931 (10.￿3) 13,759 10,031 16.031 12.365 3.666 TOTAL FUNDS 1.063.709 &721 1.091,381 Comparalive5 for movement in fvnds Nel movement in lunds Tronslers belween funds Al 31.3.24 At 1.4.23 Unreslrkled funds Generol fund D8signoted General Reserve Designoted GNing to Advonce grant fund Designated War Chest Designated Other grant gmng 569.992 35.226 318.292 1141.9831 36.022 745.301 71,248 I￿.234) 33.234 10.192 49.646 95.908 7.063 106.100 36.709 20,(XX)I 707.189 265,058 1120891 959.358 Restrlcled funds Mercy Fund Cole Teom Fund 12.416 12,889 25.X15 8,231 8.231 12,416 8,231 12.889 33.536 TOTAL FUNDS 719.éKJ5 273.289 992.894 Page 20 continued.. Grace London Noles to the Flnonclal Stotèment5 - ¢Ortlinued for Ihe Yètsr Ended 31 March 2025 15. MOVEMENT IN FUNDS - conllnued Comparative nel movement in knrK15, included in the (*)ove (xe 05 follow5.' Incoming resources Resources èxpènded Movement in funds Unre5trlcted fvnds General lund DesIgr￿ted Giving to Advonce gront fund Designoled Other gront gmng 942.114 1623,8221 318.292 133.2341 20.1 133.234 20.￿0) 942.114 1677.0561 265,058 Re5tstcted funds Care Team Fund 1151X) 14.2691 8.231 TOTAL FUNDS 954.614 681.325 273.289 Designated General Reservè5 Fund- Conlingent bjnds desKJnotèd for use in exceplh)nal ffnanciol circvm5tonces. The use ol ItrEse fv￿$ ore govemed by the tDJslees' reserves policy. whrh targets a mointenonce ol an average ol 1.5 months of poyroll ond rent payments. ond the drcwing down ol such funds is complemented by o tTUSlees' roticx￿1e ond plon lo recovef the reseNes torgel level. Designaled Giving to Advonce granl ￿nd." Funds designoted ICY lulflling the Trustee5' voluntory giving pledge lo support linancialty. the Advarce Nefvlort's operations in the UK and nternational￿. Tronslers of £27.043 wère mode in yeor ended 31 Much 2025 I￿24= £33.23411 from general funds into this designoted fund for lulfil giving pledges lo the Advance Nehvcrt in the UK ond obrooj. Designaled Other Giving grant fund-. Funds de5ignoted lor fulfilng the TnJ51ee5' voluntary giving pledge to support organisotK)ns and 1nd1wdua￿ in IhÈir operatl)￿ lo fvrther objectives afigned with those of Groce London's or ore suitable beneliciarie5 01 charitol￿e supp(Yl os discerned by the Trustee5. Net transfers ol £64.409 were mode in year ended 31 March 2(r25 12024.. £49.6461 from generol funds lo thi5 designated fund to fulfil discreti￿Ory dornotion5 to orgonisalions and indNidual. . Reslricled Mercy Fund.. setup in 2020 to he￿ anyone in Ihe chLKch wfv) finds Ihamséfves in need and wilhoul 5UPPC¥t. Translers belween funds Fund5 Ore transferred from UnreStr￿ted FurKls to Des￿nated and Restricted Funds lor the purposes of setting aside reserye5. giving to the Acfvance Movement. buikling a WCY Chest for future church ￿0W1h ond church planting and gtwing to other causes bosed on specific pti¥)ortw ol the charity's income. Page 21 contirujed... G￿l¢e London Note5 to the Flnunciol Stalemenls- conllnved lor the Y•ur Ended 31 March 2025 16. EMPLOYEE BENEFI[ OBUGATIONS During the yeor employerf5 pension contribution5 totallng £34.47012024'. £24.6651 were payable lo defined contribution personol pension s¢hemes. Pension contri￿tiOnS lolaling £3.144 IXI24'. £2.7841 were owing al Ihe bolonce sheet dale. 17. RELATED PARTY DISCLOSURES During the year the Church received donofi(X￿ of £65.439 12024: £57.2791 from rebted porties Iwhich includes Trv5tees. ory other members ol key man(yment and anyboty closety connected to Iheml. Janice 8oordman. who i4 closety reloted to Luke Boorclmon. o Trustee. received employment ben8ffts tolallirYJ £1 0,23212024.. £9,234) lor Fx0vid￿g project related ser￿e5 to thè Church. Poge 22 Grac• London Detailed Slotement of Finantiol Aclivft5•s for the Year Ended 31 Moich 2025 2025 2024 INCOME AND ENDOWMENTS Donotlons und legacles Donotions of c05h and similar Incomè lax recoverable 860.134 135.1 763.246 146.532 995299 909,778 Inveslment Incomè Bonk interest l T.425 2.￿2 Charilable advkles Clwrch retreals ond events Christian School 60.954 16.031 42.184 76,985 42.184 Total incomlng rex>urces 1.083,709 954.614 EXPENDITURE ChariFable octiythes Books & Troining Maleriol Cor)lerencÈ fees Conference FOCA & AccommockJli¢)n Generd Expenses H05pilolity Food & Ekink Posloral Meetings Expenses Preaching Honorarium & Hospitolity Rent Gran15 10 institutions Grants lo individuols 27.194 J.473 83,788 32,183 90.978 1.590 3.076 167.395 77.043 10.0 11.142 1,125 89.639 11.352 40.188 1.187 1,986 68.534 33.234 20,000 494.720 278,387 Support cosls Managemenl Solories Employ8r5 National Insurance Pension Cosls stoll Meelng Expenses Insuronce Travel Telepthne & Intemet Postoge. SlotionÈry. Office Supplies & Covrier Licewing & Subscriptions Printing, Advertising & Marketing Tech. oudio & equipmenl sundry ca￿led lorword 431,307 316.513 26,815 24.665 4.887 1.510 1.120 5.416 3.575 1.930 2.512 167 389.110 34.470 7,881 11.983 1,752 9.991 ,872 7.618 7.675 565,540 ThTh page does not fom p(Yt of the slalufory ffwnciol statements Page 23 Groco London Detalled Stalemenl of Financial Aclivihès lor Ihe Yegi Ènded 31 March 2025 25 2024 Manogement Brought fonNord tr Soflwarè & Consumable5 DepreciatKJn 565.546 3.522 5,8r2 389.110 3.995 2,231 574,960 395,336 Flnance Bank Fee5 4.794 1,170 Governance costs Auditors, remunèrotion Independent exominerfs fee Other accour)ting fees 16.8 5,640 792 105 16,905 6.432 Tolol resources expended 1,09i.38i 681.325 Nel (expenditure)/lncome 7,672 273.289 This page does not f¢ym p(sl ol the slalulory finaT)ciol slolemenls Page 24