2025-03-31-accounts

Trustees Report

Period ended 31 March 2025

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 Our Shop ................................................................................................................................................................. 6 Our Referral Service, aka our “Free Shop” ............................................................................................................ 6 Achievements and performance ............................................................................................................................ 6 Fundraising and donations ..................................................................................................................................... 8 The way forward ..................................................................................................................................................... 8

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Legal and administrative information

Trustees	Snježana Bokulić (Chair) Claire Papazidis (Treasurer) Akua-Afrieyi Owosu (Secretary) Andreas Papazidis Jennifer Foster Danya Nusseir Najira Khanam	Appointed 10 November 2022 Appointed 30 October 2015 Appointed 15 June 2023 (resigned 6 June 2024) Appointed 1 September 2016 Appointed 5 June 2021 Appointed 10 November 2022 Appointed 10 November 2022
Charity number	1169544
Principal office	332 Lee High Road Lewisham London SE13 5PJ
Bank	Metro 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, 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:

Snježana Bokulić (Chair) Appointed 10 November 2022 Claire Papazidis (Treasurer) Appointed 30 October 2015 Akua-Afriyei Owosu Appointed 15 June 2023, resigned 6 June 2024 Andreas Papazidis Appointed 1 September 2016 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 individuals and families with the essential items they need to get back on their feet again. Since 2015, GRACE has maintained a firm presence in Southeast London, and we provide services in three primary ways, detailed below.

1. Our Shop

We support our local community by operating a top-notch charity shop with quality items, organized and presented well with low prices, enabling those with limited financial resources to shop in dignity and find items that improve their lives. We have a group of dedicated staff and volunteers who make the shop a warm and welcoming place to step into.

We are known not only for the assistance we provide directly, but for the care and companionship shown to every customer who walks into our doors. Our staff and volunteers are rooted in the community, and the testimonials shared by our “regulars” continue to illustrate that our shop is like no other. We feel that we are best described by some of those testimonials from customers and beneficiaries of our referral (free) shop:

“Your shop is not just a charity shop, it’s a family. People come in to look around and they gain so much more than a bargain…they gain fellowship and a sympathetic ear.”

“Walking into GRACE feels like stepping into a warm and welcoming community. From the moment you enter, you can sense the vibrant energy and kindness that fills the space. The staff and volunteers are always friendly, and the shop itself has a wonderful atmosphere—full of unique finds and a true spirit of generosity. It’s more than just a charity shop; it’s a place where people come together to support a great cause, connect with others, and leave with a smile. GRACE truly embodies the heart of the community.”

2. Our Referral Service, aka our “Free Shop”

We have developed partnerships and referral pathways for other charities locally and throughout Greater London who are direct service providers to individuals who are newly arrived refugees or those with precarious immigration statuses, including asylum seekers, survivors of trafficking and modern-slavery, survivors of domestic violence who have No Recourse to Public Funds or who need emergency items. Those referred to our service come into the shop like any other person spending money, but are able to shop with dignity for free, taking clothing, shoes, and household items that they require for themselves and their family members. We also provide a “top up” of new toiletries, cleaning supplies, socks, and undergarments to each person.

In addition to this, we provide support to our local community when called upon, coordinating distribution of the generous donations of items we receive to support schools, children’s charities, charities supporting unhoused people, and international calls for support. Items like children’s books and toys, bikes and scooters, and even items of clothing for “dressing up” boxes find new homes and uses within our network of schools and other local charities.

Testimonies from our referral partners and service users, again, best describe our success and care:

“We are very grateful to GRACE for the support our clients have received. They have all been able to find great items of clothing and accessories but more importantly, they have all felt looked after during their visit and they say it made them feel better. I often see my clients…wearing their new clothes and looking very happy. I'm

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extremely grateful for the GRACE team’s great work and support, and going above and beyond to support our clients.”—Referral partner charity for refugees and asylum seekers

“Our clients are often in a state of destitution…and so many of the support services available to others aren't able to help them. We have referred a number of clients to GRACEover the last year, and they have all been so incredibly grateful for the support that they have received. It has been transformative, especially in the winter months, when clients have no warm clothes… We find the referral process very well-organised and easy to do, and our clients, some of whom have limited access to communication technology and limited spoken English, have found it straight-forward to access the help provided.”—Referral partner charity for individuals with insecure immigration status

“Merry xmas to you and a happy new year...this is to say thank u and thank u so much for the clothings u gave me I had what to put on on Xmas and I was so smart am glad I found u. May God bless the works of your hands always and am grateful to [removed for privacy] who rendered me to you too.”—referred beneficiary

3. Our International Solidarity

When GRACE was established, it was in the wake of the Syrian conflict after our founders witnessed first-hand how families had to suddenly uproot their entire lives to seek safety in other lands. Our beginnings were humble, with groups of like-minded people sitting in living rooms, sorting through clothing and packaging and shipping high quality and requested items for groups receiving refugees on Greek shores.

Today, we continue in this spirit by providing financial support to purchase needed items directly in locations where they will be used by refugees and asylum seekers. We use funds from charity shop profits or specific collection drives to provide financial aid, cutting down on shipping and packaging costs and environmental impact. At times, we have specific requests from members of the community for material collections to aid survivors of environmental catastrophes such as earthquakes, and coordinate collection of relevant items for other groups to ship.

2024-25 Achievements and performance

The 2024-25 activity year was extremely busy for us, both in terms of charitable activities as well as logistical ones. Our community showed up for us in so many ways; from local fundraisers and supply drives to material support to those we serve, to physical presence in helping us pack, move, and make our new location as hospitable as possible to all who come in. Our permanent staff members, who have deep connections in the community and local knowledge, were at the helm to organize, coordinate, and execute the intricacies of locating a suitable shop, readying it for opening, and driving up our shop sales.

Our move to new premises consumed quite a bit of time and energy for staff and volunteers. We were notified, along with other businesses in the Leegate area, that we had to vacate our former shop by the end of September 2024. Aided initially by our current staff, several locations were examined for appropriateness, financial feasibility, and safety, eventually landing on the current one, which was a former Emmaus charity shop. The Board noted that the location was still easily walkable for most of our customers, which was the overwhelming desire our customers expressed through the survey we ran in the prior year. The owner of the premises, having worked with charitable enterprises before, was committed to improving the physical premises and was happy to continue supplying a reliable property to local charities.

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The Board took a recommendation to hire a consultant in June to oversee securing the new premises and designing them to be cosy and smart for our customers and clients due to the loss of space in a new location. Though we have had some continued snagging issues with construction, our community of volunteers and our staff have stepped up to develop the new site into a useful and beautiful location. We were pleased to receive a small grant from Lewisham Council at the end of our fiscal year, in March 2025, to use for further improvements and allow us to expand our referral services.

In June, we unexpectedly had to say goodbye to our Board Secretary, Akua-Afriyei Owosu, due to personal commitments. The role of Secretary was shared out amongst remaining members while the trustees collectively prioritised the requirement to move premises by the deadline of September 2024.

Local community activities:

In the first two quarters of the fiscal year, we participated in several community events to demonstrate our commitment to multiculturalism and engagement in our local scene. From promoting school fairs and providing donations for tombolas to setting up stalls in local festivals, GRACE staff and volunteers continued to lead efforts to showcase our work and garner support. GRACE was represented in person at seven events during this timeframe, while also preparing for our move and keeping the shop open with extended hours and on weekends—this was quite the feat! We continued to supply high quality goods for sale and had several “clearance” events to move inventory ahead of the move, which delighted our customers and increased sales. During the final two quarters, the GRACE staff and volunteers attended five additional in-person community events.

As we left our first “home”, we were reminded of the love and care of the locals, as tributes flooded in and many hugs and cups of tea were had. To finalise the move, our shop was closed from 11 September through 3 November to pack, move, and organise the new premises. In September, we held a “thank you” event, organised by staff, to celebrate the achievements of the year and come together as a community. A new slogan for the charity was voted on at the time by volunteers: “Connecting Communities, Changing Lives”.

Between April 2024 and March 2025, our community shop received 187 referrals representing 332 individuals, including 127 children, from 21 referral partners. This is an increase of 18 referrals, despite our services being limited during the 3[rd] quarter of the year. The majority of our beneficiaries continue to be newly arrived asylum seekers and survivors of trafficking and modern slavery in the UK, and we have seen a slow but steady increase in the number of referrals for individuals with disabilities who are also struggling with homelessness or housing insecurity.

The depth of our connections and knowledge of the community is further demonstrated by how we ensure the donations we gratefully receive are being put to the best use possible. During this year, GRACE coordinated the redistribution of donated items to support the following activities in our local community (nonexhaustive):

• Hundreds of children’s books donated to local school libraries, both primary and secondary.

• Donated Lego to support the establishment of a Lego Club in a local school.

• Provided 300 books, children’s clothing and smaller adult clothing to support a Ghanaian charity’s collection.

• Baby bank donations of clothing and toys, as well as maternity clothing.

• Provided puzzles, books, and stationary, to a local hospital’s dementia patients, and toys for their children’s department.

• Provided a local school with soft toys and outdoor toys per their request.

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• Provided bikes and scooters in disrepair to a local charity who repairs them and passes them on to local schools for use in playgrounds.

• Provided packs of incontinence pads to a local food bank who needed them.

During this time, GRACE employed two full-time 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 8 volunteers; they have been instrumental in ensuring the smooth running of the shop.

Fundraising and donations

We have continued to benefit from incredibly generous responses from our community to calls for donations. 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 and local charities, or sold in GRACE’s charity shop, with profits used to support refugees and other people in need abroad.

This year, we were recipients of fundraising efforts by several local groups who recognised our work and banded together to bolster these activities. We raised funds through the following activities:

• London Philanthropic Orchestra, which held a concert in June 2024 to benefit our charity.

• Hilly Fields MidSummer Fayre in Brockley.

• Harvest Festival at Our Lady of Lourdes Church, which raised funds as well as essential toiletries for donation to our referral beneficiaries.

• SMAG Arts Exhibition—we were nominated to receive funds from this art sale benefitting charities across Blackheath and Greenwich.

• Thomas Moore Catholic Comprehensive school donated essential toiletries.

• A Christmas carolling event hosted by Our Lady of Lourdes Church, Lord Northbrook Pub, and Summerfield Pub raised funds on our behalf.

• Greek Orthodox Church, Welling, which has been a long-time supporter of our charity, collected essential clothing for men, women, and children, and coordinated donations to us.

We would like to again thank all these groups for their generosity and continuous support.

Financial Overview:

Our sources of income during the year comprised of shop sales, grants and donations, resulting in total income of £100,000, an increase of nearly 25% compared to the previous year. Our shop income continued to grow steadily at £71,591 with grants and donations at £28,409.

Our expenditure during the year was £117,492 and includes significant investment in new premises: renovations and purchase of shop fittings and equipment. Our new location brings with it higher visibility in the new community, greater footfall and increased income. Staffing costs were lower at £52,773 as employee numbers reduced. Therefore, we ended the year with a deficit of £17,492, equating to the cost of the premises move, which was covered by our reserves. The full financial report is annexed to this report.

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The way forward

We remain 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.

Our priority in the medium to short term is to expand and level-up our operations to keep up with the positive surge in shop activity and sales. This would mainly be done by hiring another part-time staff member to support our current staff and volunteers.

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STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDING 31 MARCH 2025

Income and Endowments: Donations Charitable Activities Total Income Expenditure: Charitable Activities 2 Total Expenditure Net Income/Expenditure Total Funds brought forward Total Funds carried forward Note	Unrestricted Restricted Total 2025 Total 2024 £ £ £ £ 10,072 - 10,072 11,522 78,915 11,013 89,928 68,792 88,987 11,013 100,000 80,314 106,479 11,013 117,492 85,934 106,479 11,013 117,492 85,934 (17,492) - (17,492) (5,620) 41,238 - 41,238 46,858 23,746 - 23,746 41,238

BALANCE SHEET AS AT 31ST MARCH 2025

----- Start of picture text -----
Note 2025 2024
£ £ £ £
CURRENT ASSETS
Debtors 4 - -
Cash at Bank & In Hand 25,633 43,025
25,633 43,025
CREDITORS: Amounts Falling Due within One Year 5 (1,887) (1,787)
NET CURRENT ASSETS 23,746 41,238
TOTAL ASSETS LESS CURRENT LIABILITIES 23,746 41,238
FUNDS
Unrestricted Funds 6 & 7 23,746 41,238
23,746 41,238
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Notes to the financial ststaements for the year ended 31 March 2025

• 1 Accounting policies: The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

• a. Basis of preparation: 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 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition, effective 1 the UK and Republic of Ireland (FRS 102) and the Companies 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 stated 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 future cash flows, the trustees have a reasonable expectation that charity has adequate resources to continue its activities for the foreseeable future and consider that there were no material uncertainties over the charity's financial viability. Accordingly, they also continue to adopt the going concern basis in preparing the financial statements.

• b. Income: All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, 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 attached to the donation and this requires a level of performance before entitlement 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 recognised as unrestricted income.

No amount is included in the financial statements for general volunteer time in line with the SORP (FRS 102).

• c. Donated services and facilities: 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 services. A corresponding amount is recognised in expenditure.

Gifts in kind donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. Where estimating the fair value is practicable

Notes to the financial ststaements for the year ended 31 March 2025

• to fair value the items due to the volume of low value items they are not recognised in the

• d. Fund accounting: 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 funds 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. Expenditure and Irrecoverable 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 obligation can be measured reliably. It is categorised under the following

Costs of charitable activities include costs directly 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 expenditure arose.

• f. Allocation of support costs: Support costs are 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.

• g. Critical accounting judgement and key sources of estimation uncertainty: In the application of the accounting policies, Trustees 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 underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may 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

Notes to the financial ststaements for the year ended 31 March 2025

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 subject to significant uncertainty.

• h. Operating leases: Operating lease rentals are charged to the Statement of Financial Activities over the period of the lease.

• i. Tangible 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 tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Kitchen equipment.

• j. Debtors: Trade debtors and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income is valued at the amount due.

• k. Cash at bank and in hand: Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity date of three months or less.

Notes to the financial ststaements for the year ended 31 March 2025 (continued)

2 CHARITABLE ACTIVITIES

Charitable activities	2025 2024 Staff Cost Direct Support Total Total £ £ £ £ £ 52,773 64,159 560 117,492 85,934 52,773 64,159 560 117,492 85,934

3 STAFF COSTS AND KEY PERSONNEL

No remuneration was paid to trustees during the year (2024: £nil). Expenses reimbursed to them in their capacity as trustees amounted to £Nil (2024: £nil).

The staff costs of remaining staff were:

2025 £ Wages and Salaries 8410 · Gross riem CEO pay ent Agencies 8490 · Miscel 52,773 52,773 During the year no staff were paid more than £60,000 (2024: None).	2024 £ 59,887 59,887

The charity employed 3 staff (2024: 3 staff) with a total full time equivalent of 2.8 (2024: 2.8).

4 DEBTORS Trade debtors 5 CREDITORS Trade creditors 6 FUNDS Restricted reserves General reserves Total reserves	2025 2024 £ £ - - - - 2025 2024 £ £ 1,887 1,787 1,887 1,787 Balance Incoming Balance B/F Resources Expenditure C/F £ £ £ £ - 11,013 11,013 - 41,238 88,987 106,479 23,746 41,238 100,000 117,492 23,746

7 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Fund	Net Current Assets £ 23,746 23,746

8 TAXATION

The company is a registered charity and no provision is considered necessary for taxation.

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