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2023-03-31-accounts

Trustees Report

Period ended 31 March 2023

Charity Registration No. 1169544

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Contents

Legal and administrative information ..................................................................................................................... 3 Objectives and activities ......................................................................................................................................... 4 Structure, governance and management ................................................................................................................. 5 About GRACE ........................................................................................................................................................ 6 Achievements and performance ............................................................................................................................. 6 The year in review and the way forward ................................................................................................................ 7 Fundraising and donations ...................................................................................................................................... 8 Financial report ....................................................................................................................................................... 9

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Legal and administrative information

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Trustees Appointed 10 November 2022
Claire Papazidis (Treasurer) Appointed 30 October 2015
Andreas Papazidis Appointed 1 September 2016
Faten Bizzari Appointed 3 July 2017
Jennifer Foster Appointed 5 June 2021
Danya Nusseir Appointed 10 November 2022
Najira Khanam Appointed 10 November 2022
Charity number 1169544
18 Leegate,
Principal office
Lewisham
London SE12 8SS
Metro Bank
Bank
72 76 High Street
Bromley
BR1 1EG
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Objectives and activities

The Charity's objects (''Objects'') are:

1) For the public benefit to relieve and assist the victims of war, conflict or natural disaster throughout the world, in particular by the provision of volunteers, funds, food, medical aid, accommodation, access to water and sanitation and other humanitarian assistance;

2) The prevention or relief of poverty or financial hardship including, but without limitation to, providing persons in need with grants or money or by providing or paying for services, items or facilities;

3) Such other purposes which are charitable under the laws of England and Wales as the trustees, from time to time, determine.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake and to its guidance on public benefit.

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Structure, governance and management

The charity is a Charitable Incorporated Organisation (CIO) established in England and Wales on 10/10/16.

It was established using the model constitution for a CIO and its procedures and rules are those in the model constitution for a CIO whose only voting members are its charity trustees.

The charity was successful in obtaining charitable status from the Charity Commission and was formally registered as a charity on 10/10/2016 with charity number 1169544.

The Trustees who served during the year were:

Appointed 10 November 2022 Claire Papazidis (Treasurer) Appointed 30 October 2015 Andreas Papazidis Appointed 1 September 2016 Faten Bizzari Appointed 3 July 2017 Jennifer Foster Appointed 5 June 2021 Danya Nusseir Appointed 10 November 2022 Najira Khanam Appointed 10 November 2022

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About GRACE

We help those who have lost everything to rebuild their life from scratch. We aim to provide the essential items needed for individuals and families to get back on their feet again.

Since 2015, GRACE has maintained a firm presence in Southeast London. We are immensely proud of our achievements, highlighted below, and the leading role we play in harnessing the compassion of our local communities to support those in need.

Achievements and performance

The year was one of consolidation and new direction. We recruited three new trustees who joined in responsibilities for operations and communications, respectively. Our main aim has been to strengthen the operations of GRACE so that the organisation becomes more efficient and sustainable, as the Board solidified its strategic leadership role.

Local community activities:

Through our friendly and innovative shop, GRACE continued to offer quality clothing, footwear and household items at affordable, low prices to our clientele from the local community. We take pride in the fact that each -being are at the heart of our compassionate service. One customer say, every time I come into this charity shop, whoever is at the till is always friendly and smiling. It makes all

In addition to serving our community by putting at their disposal quality and affordable items in our shop, we also support individuals and families by providing basic items such as clothing, toiletries and small household items to those who need them most. We take referrals of individuals and families via partner charities and grassroots groups. These clients shop by choosing a set number of items under a cashless system in our community shop.

Between April 2022 and March 2023, our community shop received 130 referrals from partner organisations, serving 406 clients, of whom 166 children. Our principal clients continued to be newly arrived asylum seekers, including a number of Ukrainian families, people fleeing domestic abuse and victims of trafficking and modern slavery, as well as vulnerable new mothers.

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We supported a number of community initiatives, including knitting classes run by Lee Green Lives and the knitting for homeless people project implemented by the 999 Club, to whom we donated yarn and knitting needles. We continued to support Mammakind by hosting their overspill donations, collecting donations for babies, and signposting appropriate clients to them.

We pride ourselves on our community presence and the contribution we make to environmental sustainability. By collecting and selling used items we extend their lifespan and reduce waste; we also recycle any surplus-to-requirement items.

During this time, GRACE employed one full-time staff member and two part-time colleagues, for a total of 1.8 FTE. In addition, we benefited from the generous contribution of time of our established team of eight volunteers; they have been instrumental in ensuring the smooth running of the shop.

In November, we downsized by terminating the lease on Unit 19 to decrease our financial expenditure as we prepare to relocate ahead of the redevelopment of Leegate. This was the space we shared with Mammakind and AFRIL. Our shop was not affected but we are aware of the impending requirement to move to new premises.

International activities:

Our international solidarity programme has continued to support refugees abroad. We provided a small grant of £2,000 to the Medical Aid for Palestinians, our longstanding partner. We also donated £3,000 to organisations supporting refugees in Türkiye and Syria in areas devastated by the earthquake in February 2023 and started a fundraiser to raise further funds.

Financial Overview:

Our sources of income during the year included shop revenue, grants and donations for a total of £48,644. Our shop revenue rose to £33,998 and our grant and donation income was £17,117.

Our expenditure during the year was £63,390 which included staffing costs of £42,442. Therefore, we ended the year with a deficit of £14,746, which was covered by our reserves. The deficit was due to the fact that, in spite of the growth in sales, our grant funding, which was related to the COVID-19 response, had come to an end. The full financial report is annexed to this report.

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The way forward

The priority going forward is the consolidation of our operations to enable organisational growth. We are committed both to increasing the number of referrals that come to us, and to growing the sales of the retail shop so that we can serve even more clients with cashless shopping and provide more grants to likeminded organisations community, we will need to reorganise our team and ensure our approaches are effective. We also hope to further opportunities for local partnerships. We will have to look for new premises as plans have been concretized to redevelop Leegate which has been our home until now.

Fundraising and donations

We have continued to benefit from an amazing response from our community to calls for donations that have come from all over South London. Every item donated to GRACE whether clothing, household items, toys, books or other goods will continue to benefit those in need. It will either be given out locally to asylum seekers, refugees, and others in Lewisham and neighbouring boroughs who are being supported by the Council profits used to support refugees abroad.

We remain ever grateful to the incredible individual and grassroots support we have received from our local community. Parents, staff and students in Lewisham and Greenwich schools continue to support us with their donations of clothing and other items, as do local individual donors and religious groups.

Examples of incredible and touching assistance include:

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The following organisations have provided grants and financial support to GRACE.

Thank you for your support.

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STATEMENTOF FIIIANCIALACTivmES (INCUIDING THE INCOME NJ4D EXPE140TTURE ACCOUIffj FOR ThE YEAR END114G 31 MARCH 2023 Year". 20 Note Incoffle ènd Endo¥mients: Donations ION20 IOM20 17.(M)6 Charltsble A¢tbvltbes 31,724 500 ).405 Totsl In￿¢ 41144 67.411 ExpendltuY•: Chjritsble Athibes srA) 63,390 Totsl Expendlture 500 63,390 Net IncomelExpendlture 14, 14, Total Funds brouohl lo￿ard Total Funds fotvmrd 61.604 61.604

BALANCE SHEEf AS AT 315r MARCH 2023 2023 2022 CURRENT ASSETS Debtor5 Cash at Bank & In Hand 1.871 60,720 62,591 47,558 47,558 CREDITORS: Amounts Falling Due within OrE Year (700) (987) NEf CURRENT ASSErs 46,858 61,604 TOTAL ASSETS LESS CURRENT UABILITIES FUNDS Unrestricted Funds 6&7 46,858 61,604

l Accountin licies: The principal accounting policies adoptedi judgements and key sour￿$ of estimation uncertainty in the preparation of the financial statements are as follows: a. Basis of re aration.. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporbng Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition, effective I January 2019) - (Charities SORP (FRS102), the Financial Reporting Stsndard applicable in the UK and ReDublic of Ireland (FRS 102) and the ComDanies Act 2006. The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise ststed in the relevant accounting policy note. Preparation of the accounts as a going concern: Having reviewed the funding facilities available to the charity together with the expected fijture cash flows, the trustees have a reasonable expectation that charity has adequate resource5 to continue its attivities for the foreseeable future and consider that there We￿ no material uncertainties over the charity's financial viability. Accordingly, they also continue to adopt the going concem basis in preparinq the financial statements. b. In All income is included in the Statement of ￿nanCIal Activities (SOFA) when the charity is legally entitled to the income after any perfomiance conditions have been me¢ the amount can be measured reliably, and it is probable that the income will be received. The SORP requirements are followed in relation to positions where there is a time For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attsched to the donation and this requires a level of performance before entiljement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity, and it Is probable that they will be fulfilled. Gift Aid receivable on donations is ￿CoanI$ed as unrestricted income. No amount Is included in the financial statements for general volunteer time in line with the SORP (FRS 102). nated servic and facilitie Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably, and the charity has control over the item. Fair value is determined based on the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and serwces. A corresponding amount is recoqnised in expenditure. Gifts in kind donated for resale are included at fair value, being the experted proceeds from sale less the experted costs of sale. Where estimating the fair value is prarticable

upon receipt it is recognised in stock and 'Income from other trading activities,. Upon sale, the value of the stock is charged against'lncome from other trading activities, and the proceeds are recognised as 'lncome from other trading activities,. Where it is impracticable to fair value the items due to the volume of low value items they are not recognised in the financial ststements until they are sold. This income is recognised within 'Income from other tradina acbvities.. d. F nd accoun in Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted fijnds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. e.Ex endi Irr ra le VAT: All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obliqation can be measured ￿lIablY. It is cateqorised under the followinq Costs of charitsble activities include costs diredy associated with delivering the charity's objectives and an apportionment of overhead, support, and governance costs. Irrecoverable VAT Is charged as an expense against the activity for which expenditu arose. f. All ' Support costs a￿ those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include finance, H.R., I.T, general office and premises and governance costs which support the charitable activities of the charity. Inthe application of the accounting policies, Tnjstees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and undedying assumptions are based on historical experience and other factors that a￿ considered to be relevant. Artual results mav differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods. There are no estimates or judgements which the Trustees consider are subiect to siqnificant uncertaintv.

eratin leases: Operating lease renta15 are charged to the Ststement of Financial Activities over the period of the lease. i. Tan ible fixed assets: Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tsngible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic ba515 over its expected useful life as follows., Kitchen equipment. oo. Trade debtots and other debtors are recognised at the setdement amount due. Prepayments are valued at the amount p￿paid net of any trade discounts due. Accrued income is valued at the amount due. in h Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity date of three months or less.

2 CHARITABLE ACTMTIES 2023 Totsl 2022 chantsb￿ athibes 63,390 560 3 STAFF COSTSANO KEY PERS014NEL No r￿unera￿Oi was pald to tru#etsdurirMJ the year12022: Enll. Eynse5 reMrfyJr5ed to kn In thérc4xty as tr￿ee5 tAnounted to ÉNII 12022.. £nlll. The Staff ci)5ts of rernainlry Staff we: 2023 2022 Waoes and Salarie5 23.318 41442 23,318 Durfrvj the yew no were £f4),IXKI12022.. iknel. The charlty ￿ployed 3 thff12022.. 3 with a equNalent of IA12022: 0.71. 4 DEBTORS 2023 2022 Trade debtors 1,871 1,871 CREDrroRS 2023 2022 Trade Cred￿Or$ 987 987 6 FUNDS 6ala General YeMm$ 61.6Tr1 42,144 %,89) 46.856 Totèl r¢5erv•s 144 7 ANALYSIS OF NET ASSETS BEfwEEII FUNDS Net Current Unrestrlcteo Fund 46,858 8 TAXATION The (￿npanY is a registered thanty and Th) w¢y4W 15 recewy fDrt•*rm.

Independent examiner's report on the accounts Independent Examiner's Report Report to the trustees/ members of reenwich Refugee ￿'d arKI Community Enterprise On accounts for the year ended Charlty no lif any) 1169544 31° March 2023 Set out on page Respectlve responslbllltles of The charity's tWStees are responsible for the Preparation of the accounts. The trustees and •xamln•r chariV5 tru5tee5 conslder th•t an audit is not required for this year under 5ectlon 144 of the Charities Act 2011 Ithe Charhles Act) and that an independent examlnation is needed. It Is my resFrfJnsibility to: examine the accounts under sectron 145 of the Charltles Act, to follow the procedures lald down In the general Oir•rtions 8lven by th• Charity Commission (under sertion 1451511bl of the Charlties Art, and to state whether panicular marters have come to my attentlon. 84$1s of Ind•p•ndffit My examination was tarried out in accordance wlth general Directlon5 given by the examlnerfs statement Charity Commlsslon. An examlnatlon Includes a revlew of the accounting records kept by tho charity and a comparison of the accounts presented with those records. It also includes wnsideratlon of any unusual items or disclosures in the accounts. and seeklng explanallon5 from ¢he trustees con￿rniN1 any such matter5. The procedure5 undertaken do not prov4de all the evidence that would be required in an audlt. and consequentty no opinion is given as to whether the accounts present a'true and falrf view and the ￿POrt is limited to those matter5 set out in the ststement bekn¥. Independent examlner's In COnnect￿n with my examination, no matter hJ5 (ome to my attention which- Statement l. which glves me reasonable cause to belleve that in, any material respect, the requirements: to keep accountI￿d records in accOrda￿e with section 130 of the Charltles Act; and to prepare accounts whlch accord wryth tl* ac¢ount1￿ records and comply with the accountin8 requirements of the Charities Act hav• not bttn me(" or 2. to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached Gned: Zo Name: stuart Mellor HND BACIMA 16 Wyndham Courl Southampton, Hampshire. S015 IGS