G114C.E C.'HARITIESTRIIST AdmlAIsi¢red by Gract B&ptist Charitits Limittd FINANCIAL STATE￿IENTs FOR THE YEAR ENDED JI DECF.MRER 2023 Charlty number= 1171468 Contents Pgge Ilipurt iTrl'ih¥ Trusi¢Ls Report of ilie IndependLnt EYaniin¢r flalaiicL %hLei Siiil¢ffj¢n¢ iil-cash Floivs Notes lo Ihc ALiuun15 GRACE CHARITIES TRUST RF.PORT OF TEIE TRUSTF.F.S FOR TrIE YEAR ENDED ) l DECEMBER 1023 The trusiees have pl¢&%ure in subiniiiing their repoii und ih¢ audii¢d financial Sulenients for the GraLr ChariLies Trust for the year ended 3151 D¢i¥mb¢r 20?l. Th¢v liav¢ been prepJJed in (he foiThdil pres¢ribed bv the S(aiem¢nl of Rerommcndrd Pr￿11¢¢ IFRS I O?l.'Accouniing and Reponing b> ChariLlVS' ibsued bv Ihe Charily Cofflmissioneys. ObJ¢¢¢fve5 Aetlvitits Tlie objeLts ot'th¢ Cli￿'1ty are Io Tecei￿e and adminisier donation5 ond io reclaim income tax. trom HMRC in LKcordance Mritli the HMRC Gifi Aid Kh¢me und 10 disiribul¢ th¢se donaiivns reclaimed incorne among $u¢h ¢haritie5 ￿ld lor such chari¢dbl¢ purposes ivhull!. or mainli, conccrned the advanc¢menl ol religion. The trusiees, poli¥y IS to r¢¢eitre donations either direcili fiurn individuals or Ihrou8h luLal church¢s or Kharilie5 dnd remit both oitts and tax recvvered to the donv13' nominated charities subject 10 Ih¢sr being )iiihin the SLope of the chai'ity"'s objeLlii'e$ and ai the discreiion of Ihe ilwsleek Cunsequeii(Iv all funds ofdie Lharity are lE5￿Cted. Grani ipJukingpoliiJ' rhe charir). mak.es granTS lo th¢ Lhi'istian ¢harities nominattd ￿, Ihc doTror&. The direclot5 Ot. thc li￿S[￿ confimi that they had due regard io lh¢ guidance issucd bi. the Chw'its. C&mmission vn public b¢iielil In paiiicular. donations inconie disiril)Ulid are tor chaittahle purposES M'holl* or maiiil).. eoncemed iih (he adN'ancement of religion. Sorne ol. IhL Christian orBaJiisatioiis receii.-iiig funds thiYHJgh IhL cliarity are also ii)woli.ed in tlie reliet'ol'pokert)-. the udi'aiicenienl ol'h¢alth and IhL saK'in8 01-lii'cs. Aehiev¢m*ttts and Performinte During 20?]. ?7 ehariiie5 Used the (pill Aid slheme adminisi¢red bv the Trusi and £1 1? 9)6 1£108.052 in ?0?21 was recfrNer¢d in i&N fthi- disirihution wilh ihL origiiilll doiiaiioDS. Giti Aid Claims generally made quarterl) vr upon i'eceipi or Ihi uppropriate snlomi11ion fmm charities. In addiiion. a grani reLe1￿ed frvm Particular BiWiiSI Fund i(iivwxls th¢ Iheolo8ical rrdiiiino ot o member in Ihu ¢hurch&% in membership w'iih (he Associalion tsf Gwt Bapiisi ChuTches Isouih Lasil A total of £688,329 1£1.492,747 in 702*1 paid lo b¢n¢ti¢i)ri¥s out of donations irceived IrLx)vered. Fln4n¢191 R¢vitw Th¥ Trust cwtinueii 10 pr(>ce5s Gift Aid claims and di5tribuie donations prumpil).. 'l-he balancc5 held al th¢ ycar*nd includ. £1.28S o( ￿gUI￿ gifcs tor a ¢hui¢h thdi choipses 10 receii'e a mDnihl!' donation t'rom the TtW51. Eg.3•4 gift5 recei%'¢d $hi)1111' befor¢ year end and noi l'ei paid oui £6.889 of gifts received where Ihe dOniTr￿ ha￿"¢ iiol >'el exprcsscd their Iii5hcs. GRACE CHARITIES TRUST RF.POR'I ()].- Tt4F. TRIJ%'fELS I-.()R TrIE YLAR ENDLD i l DECLMFIER 20?3 l¢ontinuedi Strueiur¢ Govtrn4nc¢ Management l-he"frus¢ was establi%h¢d hy a D¢claratioii ot'Trusi daied 6111 June 1978. The injslee is tirace Bapiist Chartties Liinited. The I rust Deed I￿￿lsed and updaied In 2019 iLTr eiisure il aLLuraielv rrlleL15 11)c currcnl Gift Aid proce$5r5. The Trustee5 havc dclLJted the responsibiliLy for the adminisiiJiion Df donalion5. inLludin8 recovery ot. lax: ta the Financ¢ Officcr ol. Iht Association of GixtL BaptlSt Lhurches Isouih Fast). Risk.Iloipugeweiil The Trusiees have assessed tlie principal risks to ivhich tlie chariN' 1% eXp￿Sed, in particular iho%e IElaied ti) the thperaiions and finance of the charih, and sati%lJed diat proL¢dUr￿$ arc iii place to miiigate our eiposure to the niajor ris￿. A risk rLgisiLr i% mainLiined rc￿1￿*.¢d. R¢f¢reDce Administrative Detslls The iliai'ily adrninislercd bN the Iwsi¢¢s. (i17¥e Baplisi Charbties Limiied. throughoui the >'eai'. 'lThc compan!. s r¢gi51eird office is 62 Bride Siiycl, Loiidon. N7 8AZ. The LonipanTr regislralson liutn￿r is 9605). ic direciors of Ilie Lompany at th¢ d￿. ot'this report ivere.. A .4 0iil¢%' {r￿igned Sepi ?0?31: A Creed> (Chaiiinan l.. P le,. A G￿￿ner IFinaii¢e Ofti¢eri.' B Jon¢s (Appoinied Nov 202Jl. A kiiig ' D J Mortirner: Miss M O. Marn P SmiLh,. J SouihLombe (TwU￿rI.. P M Woodle). The CDmptiDY S¢rr¢l4ry. %*h(i 15 emplTr>'ed bj AGBCISEI. delegated auihoriTh 10 auihoi'is¢ rouiine and plann¢d uinienani¢ lor ITU51. Assoiiaii(In and Lhurch prop¢rti¢s i¥i¢liits an Jnnuul bud¥isers ol tlie ihariLJ ar¢ as fts1lo￿5.. Accuuniaiits.. Jalob Ciik¢nagh & Ske¢i. 5 Rvbin Houd Lui)¢. SulU)11. Su￿￿1. SMI *S Priiicipal BanL'¢rs CAF Bank Limited. ?) KiThJ￿ illl ATrenue. Kingshill. We5L Malling, Kent fvIE19 4JQ GKA¢E CHARITIES TRUST (31 REPORT OF THE IRUSTEES FOR TFIE YEAR ENDED 31 DECEMBLR 2U2) {l¢￿tInued) Truslet5 Respon5iblllths The '[rL￿tte.% ar¢ rtsponsiblc for prLparing the Trust¢e.%' Rewrt and the fi#an¢ial staLements in aLLvr4Jance with applicable law and Uniled KingdoTn (i¢n¢rally Accepied Accounting Practice. IAW applicabl¥ to chariii¢8 in En8land and Wales requires Ihe Trustees w pitwe littancia5 &t*m¢nts foi. each linancial year which gi￿¢ a Iruty and luir Vici￿ ol the ch&riTr'5 tintsncial jc11￿111￿5 In Ihe veur and ol. ils tinancial position tsi the end ot. Ihe year. In preparin8 tinancial sta*menLs giving a true and fair view. the Tw$tees are requircd t(i.' 5Llcci suitable ai¢OUnting policies and then appl} them ¥onsistendy', bSer￿ thL niethThls ￿ld principles in the Chariti¢s SORP, makejudgLmLnts amd ¢stima￿S lh* or¢ tY&sonabl¢ and prud¢nl- sthte ii'heiheT appli¢able UK Aicuiiiiting SknNidiwds have bttn folloii¢d. 511bjeLt iu anir material departur¢s.' and prepare the tinancial slalemcnis on the going concem basis. unle&% it is inappropriate 10 pr¢suine ihai the chwiiy iiill oiilinue in UP-r&ion. Th¢ Trusiee5 responsibl¢ tor keepiiig proper accuunling r¢cords ivhich diKI(Is¥ ivith re&%onable accurac). al tiine Ihc riiiancial pos11ioii ot Ihc cl)&rit>' and which enable thenJ io ¢nsur¢ ihai (he tinaniial sM¢nienLg Lompl>' w'iih rlie Chariiies ALt 2DI l. They art also rcsponsibl¢ for safeguarding the &s5et5 01- th¢ Lharitv and hence tor iakijig re&%unable sieps tor lh¢ prevention and deiertion ot. traud und oil)¢r iiTegiilai'iiie>. FOR AND ON BEHALFOFTHETRUSTEES 62 Bri(l¢ Sir¢ei Lundun N7 8AZ IIJK/ J. Soutbcombt Dirtttor of Grnte Bapilst Ch47Itles Limited 151 Jul> 20?4 ORACE CHARITIES TRUST DEPENDETrKf EXAMTNER'S REPORT TO THE TRLISTEES OF GRACE CHARITIES TRUST T I'eport to the charity trustees on mv cxamiiiaiion of thc aqLCOlJlll8 of die Cirace Charitie8 Trust (the "TIu81"1 for ihe vear endcd 31 December ?023 set on pages 5 10 8. Rtsponsibilities bASiS of report As ihL charilj S iruste¢5 you responsible lor the [￿tp￿.￿lI0n ot the accoun18 in uccordarKe with the requir e¥aMinaiion of th¢ TNrt's a¢¢ounL8 as cwried out undei. seLiion 145 ol- the ?01 I ALt and iii rying out MJ. examinaiion I have follo1￿ed ￿1 the applicablL Dircction5 gii'cn by the Charity. Commission under secrion Indepthdent ex8miner's st8temefftt Since the Twsi's ¥ru55 income e¥c¢¢ded £2iO.000 %'(Mir examinei. must bc o mcmbcr ot- u bodv lisicd in 5eciion 145 ot. the 2011 Ail. I confii'm Ihai T am qualitied 10 undeiiake the eiaminaiion l)ecause l am ) membei. ol. the Instiiuie of Cliar*red AccountanES iii Eiieland and Wale%, i¥hith is ot'thL listrd bodics. T liaNY ¢ompl¢l¢d m). ¢iamination. I coiilim thai no maierial mai(ers have come io mv aiieniion in connection ivith ih¢ examiiiaiioii gi￿Ing m¢ iause u) believe Ihai iii anN' mai¢rial r¢sp¢¥l.' accounting r¢coTd5 were kepi in ￿Spect ol-Ihe'fru51 a5 required by seciion 130 ot'the Act.. or the accounts do noi accord iviih ihn.8e retords,. or the ac¢ourtts do noi compl) wiih the applicablL Irquiremints conccrning the form and coniLMI Ot &ccounts Ki out in lh¢ C'hariii¢s (Account5 and RiP0111 Rcgulaiions 21108 other Ihan anN I'equirement th• the aLrounis giwe a'irue wid fair i.ieM' ￿hICh is not a mailer considertd part i)f ￿ indepLndimi ¢Namination. I havc no conCcri￿ and 11&se come air￿1$ no i)thLr matttrs in Lonncction iviih ¢h¢ Elaniinalion io iihi¢h att¢niion should be drawi ii) Iliis Iwort in 01.dLr 10 in2blc a piDpir undrislanding ot. Ihe accnunLs to be re￿h¢d. Rl¢hard Hgfftnl¢N CTA FCA JArolp Cavtnagh & Skee( i Rvbin Hvtyj Lan¢. SuitOJL Surre SMI 2SW Da*. Ir gJZ Qft￿£ CHARITleS TRUST STA TEMENT OF FfNANCIAI_ ACTIVITILS IINCI.UI)ING fNCOMF. AND F.XPF.Nt)ITURF. ACC()LJWII YEAR ENDED 31 DECLMBER ?0?3 2023 RestTlcted Fund5 2022 RestTiCted Funds Ine•me from.. Donatioiis tMTrn&tions Gi7nts Incurn¢ l&x Kcovered 738.4?0 656,307 108,052 l.i0? 779 2,595 11 ?.956 Ini."esllli¢nts Tol*l Income 187 699,390 84 1.502.863 Expenditure on: Charitable aciiNiii¢s Paid to bLnct1ei￿.lCS Admini51raiion chai¥ts 01)ice aiid stO1iOtt¢ry B￿k chiwge5 Audilurs. ferQliidepeiideni examindiion Total elpendi￿re 6118,329 5.640 1.492,247 5.529 60 870 694.905 3.QdO IJOO.857 Nei lTh¢ome and Net movement In Funds 4A85 2.006 RetOlL¢ili*tion of funds.. Fulids biry)ught forn&atKI rarritd forward 13.012 17 I I,QU6 All te¥o£nis¢d gilins Ivss¢s ar< r¢fl¢¥ied Ilirougli ili¥ Siai¢m¢nf L)fFiiMI)Lial AeiiN'ities and all aitiNiiies were Loiiiinuiii& BALANCE SHEET AT 3 isr DF.CF.MtJF.R ?023 21123 2022 Currtllt Assets: l)ebior.% C￿h deposiied ivith fji'we Bapiist Charities Ltd 2.100 13.852 18J73 Liwbilitie5 Crtdiior%.' .4mounts fallin8 dut iTriihin (Triie Jcar 18761 13.0001 Totsl ntt assets 17.497 13.012 The funds of the tb2rity'. Ri%lfiCt¢il fLthds ,Ipproird b>. the Trusiee on 1st July ?0?4 aJ)d signed on rh¢ir b¢half b>.: Dir¢rto¢' ol- Grlct BApti%t Cbarities Llmlled GKA¢E CHAAITIES TrUST STATEMENT OF CASH FLOWS AT i 1ST DECEMBER 2023 2023 21122 Tt7twl Funtts Trtftl Funds Statemcnt of ¢x5h flow5- Tablt Cfish flows from operatlhg 4di*ities: Net cash proi'ided b>. (used inl Oper￿1118 aLiiviiies 4.33) 1.923 Cash floiv5 from inve5tiDg aclivitit5'. Iniertst Net cash providcd by (used inl invesiing activities 83 ¥3 ChAnEe In tash t￿h equlvaltnis In ihe reportlmg perlod C4L5h and c&sh equ1Tr21ints ai rh¢ beginning i)fihe rep)rting period Cs5h ¢*sh equiv4ltnts #t the (If th¢ teporlihg period 4321 13.85? 18 2,006 11.846 Table A- Recontlliation of Dtt inc0￿e I l¢1p¢ndltu￿I to n¢¢ ¢gslF floY4 from op¢r¥¢fini *rtivilies: 2023 21122 Nei inLome I le.¥penJiture) for th¢ r¢p)rting perivd the 5talemrni ol. linanr1￿ll i￿LivI11t5} Icioin.%l / IossLS inst￿ments Dikidend%. in￿￿'s¢ an41 reni from inTr¢siments Change in debtor5 Cliange in ¢r¢dilur¥ N*t cash provided by lused inl optralin¥ aetivitie5 J.48) ?.006 11861 2.160 18il {2,1601 2.160 4.335 Table B- Anatysi5 of tash and cash equlv*knts: C".ash in liand T401ice dep￿Sits iILss than 3 months) Totsl ¢gsh and ta5h equfv4lents 18.373 18 73 13 GRACE CHARITIES TRUST (71 NOTF.S TO TTIE ACCOU￿[S I'EAR F.Nt)El) 31 DLL EMBER 2Q?3 ACCOUNTING POLICIES Thc principal accnuniin8 wlicies adopied. judgLmLnrs and ke>. sourt¢s ol. e81imaiion Uncertaint￿ in th¢ preparaiion ol. Iht fiThaniial 51ai¢m¢n15 ar¢ a5 tollows: lal Arrounting ionvcn*io Th¢ linancial statemenis havt bcin pi'Lparnd undLI' Iht Chtsriliis Aci ?01 l and in accordance wilh th¢ ChiWiti¢s Sialement of Fi¢ciMnmended Practi¢L Ichariii¢s f ORP IFRS 102)) and Financial Reporting Sthndard 102 IFRS 1021. -the tinancial stalimints w'c draiNn up oil ihe histOTILal cost basis of accounting. a5 moditied bv the r¢Nalualion of inv¢simcni propcrtie8. 'fheiE are no maicrial Un￿rtaInti¢$ aboui Il)e thariiy's abiliry 10 coniinue in operaiion. Thc finwicial 5taiemenis ar¢ prePa￿d in pounds %ierling IN)undLd to the neartst pound. Cirncc ChariliLs Ttwsi meeLS the definition ot a public henefii enLitv undei. FRS 102. It is an unin¢orpomt¢d chw"ithble Hiih registered addri5S 0162 FJridL SireeL London. N7 8AZ. Ibi Going concern Thirc aTL ni) niaterial Lincertainiies aboui thi chwit¥' 5 abilib. to coDtinue. (¢1 Tn¢om¢ Voluiitarn. inLonie is aLLuuiiied lor unce Ilie cliarii? 11&5 enliilenicllL lo the incomc. it is probable thL income w'ill be reiti￿¢d and thr aniounl DI. IllLOrnC T¢Leii'dble Can be reliably measured. Idl Ejpend1t￿re All cYpLnditure 15 iniluded on av accruals basis. Charitable ekpendiiure comprise5 all ¢xpendiiur¢ diirLtly i*laLed io the objeLlS ol. the chariiv. Thi5 iiicludes i0￿. Crediiors dnd piDNi5ion.s air r¢cognis¢d at ¢h¢ir s¢tilimLni amount. IIRACE CHARITIES TRUST 181 NI)TES TO THF. ACCOU￿[S YEAR LNDLD 31 DECEMBER 202) l¢othtinuedl 2 RELATED PARTY TRANSAcfioNS Gruce Bap1151 Chariiie5 Limiied 15 the corw>rate Iru51e¢ for the chariry. ln the ¢(￿TSe ol- ils performance as Nsiee. the Company holds operaiing cash fiinds of ih¢ charity. Dui'ing 2023. Ihe in[￿est raii paid 10 the cliarity oi) thL c&sh balanccs held w&s 1.75Yo p.a. for 151 Januaiv lo 3 1st March, 2.2jQ/• Iriirn Isi April 10 30th JunE 3 ?i°th frorn I si Jul! 10 30 S¢ptember and 3.7i°/o from 1st O¢wbei' to 3 Idi December. crediied quwtcrlv. ThL bal￿7￿C olc&sh funds hcld ai 3 1st t)Lcembci' was £18,373. The irusi¢¢ proTrid¢d adniinistration s¢rvic¢s LQ ihe Lliaritri. and made a Lh￿￿¢ of £5,640 1£5.529 in 202?) fL)r th¢ re50UTCt5 U5td. J TRUSTEES, REMUNEIL4TION AND EXPENSFS No rtrnun¢rTriipn or reimbur5¢meni ol'¢xp¢ns¢5 direril} or indir¢cilN' out ot. the funds ol-Th¢ ¢haritv ￿ld or payoble tor Ihe Jear 10 an},'I'iusie¢ or lo an) person or p¢rsons known 10 be connectcd wilh anv ol th¢rD. 4 INDEPENDENT EX.4MINATIONIAUDrr FEES ie l¢es paid for Ilie Indeptiideni Exami11￿lOn 120??: Audit Feel of ilie aC￿unts £870 1?0?2..£).0001. A addiliundl f¢e ot. £i? Piiid as an insui?n¢¢ piEmium io CONEr piDlessional 6OSLS incuiird iNhile d¢alin¥ ii'iil) rei'ieik6 b> HMRC of oili aid clain15 la51 >fJr. 5 STAFF COSTS AND EMPLOTrTE BENEFITS The charily dicl fior emplo} any 51aft'during lh¢ ywdr.