## Broadgrace Charitable Incorporated Organisation T����ee�� a���al �e���� a�d financial statements _– 1[st] September 2019 31[st] August 2020_ ## Contents |T����ee�� ann�al �e�o��|page 1| |---|---| |Financial review|page 10| |Inde�enden� e�amine��� �e�o��|page 12| |Financial statements and notes|page 13| ## T����ee�� a���al �e���� ## � For the period 1[st] September 2019 31[st] August 2020 ## Reference and administration details ## Charity name and registered charity number Broadgrace | 1171839 _The charity is also often referred to as Broadgrace Church._ ## Cha�i���� ��i�ci�al add�e�� and contact details Broadgrace Church, The River Rooms, Church Street, Coltishall, Norwich, NR12 7BX. 01692 535593 | www.broadgrace.org.uk | enquiries@broadgrace.org.uk ## Names of the trustees who manage the charity |_Name_|_Office_| |---|---| |Stephen Michael|Chair of Trustees (and elder of the church)| |Daniel Ernst|Trustee (and elder of the church)| |Matthew Hall|Trustee (and elder of the church)| |John Hindley|Trustee (and elder of the church)| |Timothy Chapman|Trustee| |Fiona Foreman|Trustee| ## Relationship to Broad Grace Charitable Trust _Broadgrace CIO_ was created to replace an existing charity, _Broad Grace Charitable Trust_ (registered Charity number 1136670). The trustees of _Broad Grace Charitable Trust_ implemented the transition from a Charitable Trust to a Charitable Incorporated Organisation for legal reasons, primarily for the CIO to have the legal ownership of our building, The River Rooms. Under current charity law, as a CIO exists as a separate legal person, titles to buildings can be held in the name of the CIO. Previously, as a trust, The River Rooms was held in the names of the trustees. This can lead to costly fees and a time-consuming process to transfer legal ownership of the building every time the trustees change. _Broadgrace CIO_ (Charity number 1171839) was created and all assets and activities of _Broadgrace Charitable Trust_ were transferred to the new CIO on 1[st] September 2017. _Broad Grace Charitable Trust_ was then closed, and was removed from the Charity Commission register on 2[nd] October 2018. 1 | P a g e ## Structure, governance and management Broadgrace is constituted as a Charitable Incorporated Organisation (CIO). It is governed by a _Constitution of a Charitable Incorporated Institution whose only voting members are its Charity Trustees_ (the �Con��i���ion� ), dated 21[st] February 2017. ## Appointment of trustees Cha�i�� T����ee� a�e a��oin�ed b� a �e�ol��ion �a��ed a� a mee�ing of �he �S�i�i��al Leade��hi�� of �he church. The Spiritual Leadership is made up of the elders of the church. All members of the Spiritual Leadership are currently also trustees. The trustees are in agreement, however, that it is also important to ha�e �e��e�nal� �����ee� a� membe�� of �he boa�d� The� b�ing a b�oade� �e���ec�i�e and �i�dom �ha� i� a valuable addition to that of the trustees who are more closely involved with the day-to-day work of the charity. They also contribute different experience of work and church life that is extremely valuable. ## Governance and management of Broadgrace The Con��i���ion ��a�e� �ha�� �The ��i�i��al go�e�nmen� and leade��hi� of �he Ch��ch Fello��hi� fo� � he purposes of which the CIO has been established shall remain with the Spiritual Leadership and to the extent to which the Charity Trustees are not synonymous with the Spiritual Leadership their powers shall be confined to the proper management and administration of the CIO in accordance with the provisions of this Constitution and in furtherance of the Objects and in so doing they shall have full and proper regard to the Spiritual Leadership provided always that they shall not act outside their powers as conferred by this Con��i���ion and b� gene�al la��� The Spiritual Leadership of the church is made up of four elders: Daniel Ernst, Matthew Hall, John Hindley and Stephen Michael. All four of these are also trustees of the charity. In addition, two of the elders are also employed to serve as pastors of the church: John Hindley is employed full-time and Daniel Ernst is employed for one day per week. They have absented themselves from discussion of salary and all other em�lo�men� ma��e�� d��ing �����ee�� mee� ings. However, a� �he T����ee�� Mee�ing on ��[th] January 2020 it was decided that we should establish a formal Remuneration Committee made up of Matthew Hall (Chair), Timothy Chapman, Fiona Foreman and Steve Michael. This committee will undertake all discussion of salary, terms and conditions and other matter relating to employment. This should allow for fuller discussion of these matters than previously. The elders of the church meet weekly for prayer and to discuss any urgent pastoral or other matters. They also meet monthly to discuss any business affecting the church and to spend longer considering the life of the church. T�o o� �h�ee �ime a �ea� �he� ha�e an �a�a� - da�� �oge�he� �o allo� fo� �ide� �eflec�ion . They also meet for an evening from time to time to discuss theological matter that have interested one of them. The trustees meet twice a year or more frequently if there is a need to do so. The elders are accessible to all the members of the church and regard themselves as members together of a family and not above or superior to any other members. They strive to have a highly consultative decision making process, with church members having great involvement in and ownership of decisions. Many other members serve in various ways, and we are highly dependent on one another in all aspects of church life. 2 | P a g e ## Professional advisors ## Bankers HSBC, 18 London Street, Norwich, Norfolk, NR2 1LG. ## Independent examiner Guy Drummond, 11 Leckhampton Road, Cheltenham, GL53 0AX ## Public benefit statement The trustees are satisfied that the activities we undertake to meet our charitable objects are for the public benefit. All the various meetings, groups, courses and events are open to the public; events and activities are advertised as widely as possible and members are keen to share their faith and church life with the community. Additionally, some of the meetings and events we run are specifically aimed at the general public. One example is the _Family Easter Supper_ , which we organise to inform families in a fun and accessible way of the events of the first Easter. Another would be _Tiddlers_ , our baby and toddler group which is widely regarded as a making a valuable contribution to village life. We similarly use our building, The River Rooms, to serve the local community. The facilities we provide there are available to everyone. At each meeting, the trustees consider how the charity is benefitting the public in its activities and in the general ways that church life is conducted. ## Activity of the charity in meetings its objectives ## Objects The Objects of the CIO are, for the public benefit, the advancement of the Christian faith, in accordance with the Statement of Faith, in such ways as the charity trustees may from time to time decide. ## Activities of the charity In common with all his churches, Jesus Christ lies at the heart of all we are and do as a charity. Our main activity is to live as a family who love, care for, support and disciple one another. We seek to be an open family, welcoming in all who want to join us in investigating faith in Christ or in following him. This means that our culture is of paramount importance. Love has to be real, which means we must make time to know each other and our Lord. As a result of this we prioritise praying and reading the Bible together as the primary means of relating to God, and time together knowing and loving each other as the primary means of relating to one another. This culture is more important than the organised activity of the church. Most ministry is carried out as we share time, gifts and lives with one another and with our neighbours. The elders and members of the church focus much of our attention on cultivating such a culture of love and faith, with the organised activities of the church seen as supporting this aim rather than being dominant. This approach is both more freeing for church members, allowing all to serve one another rather than controlling what Christian service looks like, and also more effective. This is because we are free to respond 3 | P a g e to need as we see it, rather than having to go through structures or decision-making bodies. In a larger church these might be necessary. As a smaller church, though, we strive to only create structures and ministry programs that will support the family life of the church rather than institutionalise it. Because of the significant impact of the coronavirus outbreak, it is useful to review the activities of the charity separately before the resulting lockdown and then from the lockdown onwards. This divides the year in two. ## September 2019 to February 2020 During the first six months of the year, as always, we tried to keep the focus on the relationships of love with God and one another that we mentioned above. We also sought to serve our community in love and share the good news of Jesus with those around us. The central pattern of church meetings revolves around our gathering together on Sundays and our two community groups: - _Church family meeting:_ we meet together weekly on a Sunday at 4pm. This is the meeting of the church family to which we always hope visitors will come who might like to consider joining us as we follow Christ together. We spend the time praying, reading the bible and having a talk based on the Bible passage for the week. During this time the main focus of our Bible readings and preaching was Galatians, with a short Christmas series and a series of talks on the environment (see below) to break this up. During our meetings, we usually sing hymns and songs to praise our God, and sometimes watch video clips, have interviews with members of the church and other activities to help make the meeting engaging. The meetings are for all ages, and we provide a creche which young children and their parents can use if they want. The last part of the meeting is a meal for the children, tea, coffee and cake for the adults and time to talk and pray informally with one another. On the first Sunday of each month we all have a meal together and share bread and wine as Christ reminds us of his death on the cross for us. - _Community groups:_ we have two community groups which meet weekly, on Wednesday evenings, for prayer and Bible study as well as simply spending time together. These groups do not only meet, but � - are also the ongoing context in which we can know each other better and share our lives the good and the bad � with one another. We invite all members of the church to be part of one of the groups, each of which is led by two of the church elders. We invite our friends and those who might be interested in finding out more about Jesus to the Wednesday meetings and other times the groups get together. One of the groups shares a meal each time they meet, the other cake and drinks. Both groups seek to create a culture where we share our lives outside the group meetings, and this is led by the elders who serve as group leaders. Alongside these main and ongoing activities, we have several ministries or activities that support our objects as a charity. These are ongoing ministries that may not continue indefinitely, but are currently useful in achieving our objects: - _Tiddlers:_ our baby and toddler group. We continue to have a good number of parents and carers at our meetings on the first and third Wednesdays of the month. The team work hard to maintain a very friendly, welcoming atmosphere. One of the joys of Tiddlers is the range of families who come along, from a wide range of background. We continue to believe that we are meeting our aim of providing a place of welcome and love to those who are struggling as they seek to care for children. There was also a Christmas food tasting evening in December for the adults to socialise without their children. 4 | P a g e - _Kid�� Cl�b�_ for primary school aged children we provide fortnightly club where they learn about Jesus from the Bible, pray, sing, do crafts and enjoy a fun time together. We have dedicated, enthusiastic volunteer leaders, and have been able to bring more church members to join the group as leaders. Daniel, one of the elders, had o�e��igh� of o�� �o��h and child�en�� mini�� ries during this time and took a lead in helping us coordinate the groups, as well as in serving and training the leaders. Hannah Michael is our Safeguarding Co-ordinator and ensure that our policies are reviewed at least annually, and that leaders receive training on safeguarding as well as holding an enhanced DBS check. She also reviews and updates our risk assessments. - _Gi�l�� and b���� Bible ���die��_ the teenage girls and boys in the church each have a bible study group. These are great fun, as well as providing an opportunity for them to apply their faith deeply in their lives. Both groups are well-led and popular among the teenagers in the church. A � abo�e� Hannah�� �ole as Safeguarding Co-ordinator applies to these groups as well. - _Sch��l�� mini�����_ John, our pastor, continued to take assemblies and help with Religious Education in several local schools. This is a great opportunity to serve the wider community, help the schools and engage the children with the good news of Jesus Christ. Relationships with staff are very good, and mutually supportive. Towards the end of the year, John was asked to become a Foundation Governor for the Nebula Federation of schools. This was discussed among the elders and John agreed to take on this role. It will begin in September 2020. - _Equip:_ we continue our training partnership with several other local churches. This year the main activity continued to be a termly Saturday morning meeting to train women from our churches in studying the Bible and teaching it to one another. This had to be cancelled for the Summer term due to the coronavirus. There was also an excellent day conference organised in February, led by a team from _Living Out_ and well attended by members of Broadgrace and the other churches involved. - _Acts 29:_ we continue to be an active part of this church planting network, in Great Britain, Europe and globally. Our involvement includes conferences that benefit and encourage our pastor and other church members. John is part of the Rural Collective leadership team. The Rural Collective is a group working to promote rural church planting across the world. This role involved him travelling to Northern Ireland in October 2019 to speak at a conference on rural church planting. He has also continued to support rural church planting more locally, through coaching two rural planters through the process of establishing the church he leads and as the Rural Co-ordinator for Acts 29 Europe. - _Missionaries:_ we have continued to support a family on long-term mission service to Central Asia. This involves financial support, prayer and regular (at least monthly) video calls between church elders and members and this family. The family also had a short, un-scheduled, visit back to us in August 2019 for (successful) medical care for one of their children. They stayed with us in September 2019 and it was a real joy to see them again. They were scheduled to make a longer visit to the UK, spending a week or two in Norfolk in July 2020 but this was cancelled due to the coronavirus. - _SaRang Church:_ we enjoy our partnership with SaRang Church which is in Seoul, South Korea. As well as praying for one another, in July 2020 Sarang Church pledged £10k over two years to help with the costs of theological study for a member of Broadgrace (see below for more on this). The first half of this gift was received in August 2020 ready for the course to begin in September. 5 | P a g e - _Wider ministry:_ the elders continue to encourage John, our pastor, in his wider teaching and preaching ministry. This again included speaking at a church weekend away and lecturing at London Seminary. Our treasurer, Flick, also provides valuable advice and support to churches and Christian organisations. Daniel and John also supported other local churches through visiting preaching. - _The River Rooms:_ we see our building as a community resource, through renting space to the local café, and offices to the _Wellbeing_ NHS counselling service and two businesses. We also seek to make the hall available for community use, and gladly host the monthly editorial meeting for _The Marlpit_ , the local village magazine. During the Autumn of 2019 we saw an increase in hall bookings, through the work of Hannah Michael who handles this for us as a church. During the Autumn of 2019 we also held the following events: - _Autumn talks_ : our Autumn lectures in 2018 had not been as successful as those in 2017. We decided not to repeat them. We had, however, also decided that we wanted to consider the relationship between God and climate change as a church and scheduled three talks for our Sunday church meetings in November and December. We opened these more widely to the community, with advertising and a particular encouragement to church members to invite friends and family. We only saw one or two visitors join us for these talks but they were challenging and helpful for us as a church family. As a result the e lde�� �lanned �o ��end �ime on �hei� ne�� �a�a� da�� di�c���ing change� �e might need to make as a church to better reflect our theology of creation. This away day was cancelled but the discussion will be picked up once it is possible to do so. - _Hustings_ : for the 2019 election, we held an election hustings. All the local candidates came to The River Rooms, and the event was introduced by Matthew, one of our elders and chaired by Felicity, one of the members of the church. The building was full, with over 100 people present, and Felicity ensured a lively but civil and fair debate among the candidates in response to questions from the floor, which were submitted in advance. This was an excellent way to serve the community and would be worth repeating at another election. ## March to August 2020 - The co�ona�i��� o��b�eak and �he en��ing �lock do�n� �e���ic�ion� and ��b�e��en� change� �o �he la� and the government guidance for churches profoundly affected our activities, as they did for most o�gani�a�ion�� In God�� k indness and wisdom, however, the heart of our church family life remained the �ame� The Bible�� ���e�� on lo�e fo� God� fo� one ano�he� and fo� o�� neighbo�� o�e� �a��ic�la� e���e��ion� of this love made it relatively easy to persist in church life. The biggest challenge has been that we are created as embodied spirits � we are made to relate to one another with our bodies as well as our voices and so the isolation and separation that the response to the virus has necessitated has cut across an essential aspect of our creatureliness. The church responded to this in two main ways: - We tried to make best of a bad situation, moving online using Zoom for as many meetings as we could. as a small church we are able to keep the relational nature of our meetings to a degree, using chat rooms at the end of the meeting and keeping with a live service rather than pre-recording elements. This suited us well as a church and meant that our online meetings have, to a degree, felt like our reallife ones. 6 | P a g e - We sought to see each other, spend time together, message, write, and keep both our church family life and our care for our neighbours going. As elders we were hugely encouraged by the love shown across the church family, and the practical and creative acts of service. Many of the children wrote cards and notes to members of the church who lived alone, and popped them in to say hello at a distance. Church members cooked meals for those who were sick, shopped for neighbours, picked up prescriptions and served in many more ways. As it became impossible for us as elders to communicate with everyone we realised that many people were ringing one another, especially those who are more vulnerable or isolated. As the lock-down eased this then moved into spending more time together in the allowed groups of two households or up to six people outside. This is a great blessing as a church, as it makes obvious the truth that ministry is done by all and for all, not simply by the elders or other leaders. Spiritually we think we will have grown in Christ through this experience. The other challenge for us as a church was that one of our elders, and part-time employee, Daniel Ernst, was taken ill in March. We do not yet know whether he caught the coronavirus or something else, but he was ill for several weeks and the recovery period was lengthy. We also placed Daniel on furlough as a ���den� �e��on�e �o �he financial �i��a�ion of �he ch��ch� A la�ge �a�� of Daniel�� �o�kload o�e� �he Summer term would have been the cancelled holiday club. The other main part was his oversight of the work with children and young people and this was taken up by John Hindley. In considering the impact of the coronavirus on our activity in 2020, it is useful to look at what we kept, what we lost and what we gained. ## _What we kept_ - _Church family meeting:_ we moved our meetings onto Zoom, as above, and opted to teach through E��he� and �hen begin Ma�k�� go��el� Bo�h of �he�e ha�e been �ell -received and of great spiritual benefit to us. Zoom is working fine but clearly not ideal. Over the Summer we held two outdoor meetings on Saturdays in addition to the Sunday Zoom meetings. This was after talking through options with the church family and were appreciated by most. We did not replace the Sunday meetings as we did not want to exclude those who could not come for medical reasons or because they were shielding vulnerable relatives. - _Community groups:_ the two community groups have moved onto Zoom as well. Whilst it works perfectly well for Bible study and prayer the loss of face-to-face relationships is clear and we were really struggling until we were able to meet in person after restrictions were eased. It is clear to us all that we need one-another and will rejoice greatly when we can eat, laugh, hug and be with one another again. - _Sch��l�� mini�����_ John recorded weekly video assemblies for the school he usually visited. These were then sent to parents schooling at home, and were much appreciated by the head-teachers. We also made efforts to support school staff in the church family and to encourage our local schools and teachers. It feels as though already good relationships have got stronger during this time. - _Acts 29:_ whilst several trips were cancelled, John was able to host and teach in various Zoom webinars and prayer meetings to support rural church planters and pastors across the world. These were so wellreceived that we will continue a monthly webinar into the next year. John also completed a course for the core teams of rural church plants that will hopefully be published in 2021. 7 | P a g e - _Missionaries:_ we continued to support the family on long-term mission service to Central Asia. The personal support of church members was particularly important during this season as they dealt with some additional pressures due to the coronavirus in their context. They had been due to return to Norfolk on Home Assignment but sadly this had to be cancelled. - _The River Rooms:_ we kept the building safe, and supported A Piece of Cake with a delayed implementation of a rent review and free use of the hall once they reopened to allow staff to keep a distance from one another as they prepare food. Our other tenants continued to use the offices, in a reduced capacity. Both have, however, served notice for October 2020, one due to coronavirus and the other through needing a bigger premises. This means that, whilst income for 2019-20 was not severely impacted by the coronavirus we are looking at needing to rent all three offices at the start of the 202021 year. ## _What we lost_ - _Holiday Club:_ we were particularly excited about the holiday club, booked to run at Buxton School, as we had taken a break in 2019. Cancelling this was both sad in itself and might result in a loss of momentum now that we have had a two-year hiatus. We pray that the Lord will enable it to go ahead in 2021. - _Big Day Out:_ we had to cancel our planned Big Day Out at Mundesley, sadly for many members of the church. - _Equip:_ we have not been able to run any Equip events, cancelling or postponing what was planned. This is a shame, but the extra time and energy needed to lead the churches during the virus outbreak has made it an obvious ministr � �o �a��e� I� i� al�a�� an �e���a� o�e� o�� �eg�la� �o�k� We a�e �lanning �o meet in September 2020 to discuss how to restart. - _Tiddlers:_ a �adne�� of lockdo�n �a� �o��ing o�� o� deli�e�ing �he lea�e��� ce��ifica�e� and gif�� �o �he Tiddlers we will not be able to bid farewell and pray for as they move on the pre-school or school. We have really missed this lovely group, we are fearful for some of the family that are isolated and vulnerable in different ways. We are trying to work out what might be possible in September, but this has been a sad loss. ## _What we gained_ - _Kid�� Cl�b�_ �hil�� no� a ne� mini����� d��ing �he ini�ial lockdo�n �e mo�ed o�� Kid�� Cl�b �o being a weekly Zoom meeting. We were surprised at how the children engaged and enjoyed this. The format was well- ��i�ed �o ����e�� and Jell� and Jack�on �e�e a ke� �a�� of �he online Kid�� Cl�b� So �o��la� was the club that we saw two new children join and some who had become a little disaffected return. Over the Summer of 2020 we planned a relaunch of these groups in the garden of the Hindle��� ho��e� All the children were keen to remain involved. This is a wonderful answer to prayer for more children to engage with Kids Club. As a result, we will have more groups than previously going into September 2020 and have been blessed with new leaders wanting to serve in this way. There has been significant work done on safeguarding, risk-assessments and covid-19 safety measures that has been cheerfully undertaken by church members. 8 | P a g e - _Gi�l�� and b���� Bible studies:_ in the same way as with Kids Club, these groups both saw a surprisingly good season of spiritual growth among the members. - _Wider ministry:_ John had a number of speaking engagements and trips cancelled. This led to some time over the Summer which he used to submit proposals for two book projects. We are hoping that one or both of these will proceed and give John an opportunity for more writing, which he will enjoy and would be a chance for us to serve the wider church. - _Our tenth anniversary_ : Broadgrace Church was planted on 16[th] May 2010 and so we celebrated our tenth anniversary during the lockdown. We took advantage of the season to invite supporters and friends from across the country and world to join us for a service to give thanks to God and reflect on �he good and bad of �he la�� �en �ea��� In God�� ��o�idence� Zoom failed ac�o�� �he �o�ld on �he Sunday we were meant to meet and we had to postpone for a week. It was a good time, and a particular highlight was that our mission partners from Central Asia were able to join us and be interviewed. - _Theological study opportunity:_ whilst not a consequence of the coronavirus, during this time the elders had been considering how we might help someone to study and train for ongoing ministry. We had been in conversation with a couple in Suffolk who were considering moving to join us for this purpose. In Feb��a�� �he� decided �ha� �hi� �a� no� �he Lo�d�� call on �hei� li�e�� A� �e ��a�ed and con�ide�ed what we should do the Lord made it apparent that we should approach a member of the church, Emily Paterson. Emily is an able theologian and Bible teacher and a committed member of the church whom we thought would benefit from the opportunity. She was keen to pursue this and her employer agreed her to decrease her working days from five to three. She will study for a Graduate Diploma at the Cambridge Learning Community in Union School of Theology. The church will provide £10k towards this, of the £30k needed to cover course fees, study costs and a living grant to enable Emily to pursue this study. Emily will not be employed by the church but will continue to serve voluntarily as part of her study. We hope that we might be able to employ Emily one or two days per week on completion of her course. The church is seeking to raise the additional £20k required over 2020-22. Sarang Church, our partner church in Seoul, pledged £10k of this before the course begun. Entering the new year of 2020-21 we are nervous about what the months ahead hold. It is hard to see how we keep much of what has been good during a Winter with lock-down restrictions. However, we know and have seen the goodness, faithfulness and kindness of Christ. Our hope rests in him and he will not fail us. 9 | P a g e ## Financial Review The charity raises money primarily through the giving of its members, gifts from supporters and through income from rental of the River Rooms. The accounts are prepared under the Receipts and Payments method. During the financial period to 31 August 2020, £67,797 (2019: £113,946) was received in donations, with an additional £9,062 in gift-aid receipts. Within this, a donation of £15,000 was received specifically to repay some of the non-interest bearing loans held on the River Rooms. Additionally, £29,721 (2019: £32,150) was received in rental income from the River Rooms and £1,693 (2019: £3,313) in other income incl�ding �o�al�ie� f�om John Hindle��� ��blica�ion�� The value of direct charitable activities was £58,664 (2019: £66,167). Loan repayments of £29,939 (2019: £86,917) were made against both interest-bearing and non-interest bearing loans. In addition, the charity has made donations of £3,150 (2019: £5,160) to a number of other local and national charitable organisations. ## S�a�e�e�� �f �he cha�i���� ��lic� �� �e�e��e� The trustees have decided to maintain £25,000 in reserves. This figure was based on the following requirements: - £5,000 available cash funds to be maintained in relation to general church activities. - £10,000 available cash funds to be maintained in relation to the River Rooms. - £10,000 repairs and maintenance fund for the River Rooms. The cash balance at 31 August 2020 was £54,151. ## Details of any funds materially in deficit There were no funds in deficit at 31 August 2020. ## Risk statement The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks. ## S�a�e�e�� �f �����ee�� �e�����ibili�ie� Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year. 10 | P a g e We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011. We are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. We are responsible for the maintenance and in�eg�i�� of �he cha�i�� and financial info�ma�ion incl�ded on �he cha�i���� �eb�i�e in acco�dance �i�h legislation in the United Kingdom governing the preparation and dissemination of financial statements. ## Independent Examiner Mr Guy Drummond has been a��oin�ed a� �he cha�i���� inde�enden� e�amine�� His report can be seen on pages 12. ## Approval This report was approved by the trustees and signed on their behalf by: Stephen Michael _Chair of Trustees_ 11 | P a g e Independent Examiners's Report to the trustees of Broadgrace CIO st st for the period I September 2019 - 31 August 2020 I report to the trustees on my examination of the accounts of Broadgrace CIO I'the charity'l forthe year ended 31 August 2020 on page5 11 to 16. Responsibilities and basis of report As the trustees of the charity. you are responsible forthe preparation of the accounts in accordance with the requirements of the Charitles Act 20111'the 2011 Act'l. I report in respect of my examination of the charitvs accounts carried out under 5ectlon 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commi55ion under section 14515llbl of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no materi31 matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in accordance with section 130 of the 2011 Act; or the accounts do not accord with the accounting records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed Guy Drummond Address- 11 Leckhampton Road, Cheltenham. GL53 OAX Date= lo zi bToadgrace ## Financial Statements for the year ended 31[st] August 2020 ## Receipts and Payments Accounts |Notes
**_Income receipts_**
Donations, legacies and grants
Gift aid receipts

Income from charitable activities
Rental Income

**_Capital and similar receipts_**
**_Total receipts_**|**General**
**Funds**
£
47,297
9,062
1,693
29,721
87,773
-
**87,773**|**Restricted**
**Funds**
£
20,500
-
-
20,500
-
**20,500**
|**2020**
£
**67,797**
**9,062**
**1,693**
**29,721**
**108,273**
-
**108,273**|_2019_
_£_| |---|---|---|---|---| |||||_113,946_
_10,132_
_3,313_
_32,150_
_159,541_| |||||_-_| |||||**_159,541_**| _**Payments**_ 13 | P a g e |Payments in relation to charitable
activities undertaken directly
2
Grants paid in relation to charitable
activities undertaken by others
3
Purchase of fixed assets
Purchase of investments
Loans repaid
**_Total payments_**
Net of receipts / (payments) before
transfers
Transfers between funds
**Net movement in funds**
Cash funds as at last year end
**Cash funds at this year end**|58,664
3,510
62,174
-
-
14,439
14,439
**76,613**
11,160
-
**11,160**
37,491
**49,151**|-
-
-
-
-
15,500
15,500
**15,500**
5,000
-
**5,000**
500
**500**|**58,664**
**3,510**
**62,174**
**-**
**-**
**29,939**
**29,939**
**92,113**
16,160
-
**16,160**
37,991
**54,151**|_66,167_
_5,160_| |---|---|---|---|---| |||||_71,327_| |||||_-_
_-_
_86,917_| |||||_86,917_| |||||| |||||**_158,244_**| |||||_1,297_
_-_| |||||**_1,297_**
_36,694_| |||||**_37,991_**| The notes on pages 17-19 form part of these accounts. 14 | P a g e ## Statement of assets and liabilities |Notes
**A**
**Cash funds**
Cash at bank with immediate
access
Notice deposits
Petty cash
**B**
**Other monetary assets**
Gift aid due to charity
Other debtors
**C**
**Liabilities**
Interest Bearing Loans
Non-interest bearing Loans
Tenants Deposits
Taxes due
Grants payable
Accrued expenses|**General**
**funds**
**£**
49,151
-
-
**49,151**
2,556
1,950
**4,506**
137,782
27,000
3,574
-
5,000
727
**174,083**|**Restricted**
**funds**
**£**
5,000
-
-
**5,000**
-
-
**-**
-
-
-
-
-
**-**|**2020**
**£**
**54,151**
**-**
-
**54,151**
**2,556**
**1,950**
**4,506**
**137,782**
**27,000**
**3,574**
**-**
**5,000**
**727**
**174,083**|2019
£| |---|---|---|---|---| |||||37,991
-
-| |||||**37,991**| |||||2,601
95| |||||**2,696**| |||||149,271
45,000
3,574
359
-
156| |||||**198,360**| £12,344 of the interest-bearing loan is due within the 2020/21 financial year. Interest-bearing loans are held with Rural Ministries and interest is paid at a rate of 1% above Bank of England base-rate. Non-interest bearing loans are held with Stephen Michael (Trustee) and Ethco Limited (owned by Matthew Hall, Trustee). 15 | P a g e ## **D Assets retained for charity's own use** |**Fund to which**
**asset belongs**
Land and buildings (The River Rooms, Church Street, Coltishall)
Furniture and PA Equipment|**Current**
**value**
**£**| |---|---| ||**447,530**
**25,189**| ||**472,719**| The trustees have used insurance values as an approximation for current values. ## **E Investment assets** The charity does not have any investment assets. ## **F Guarantees and secured debts** The outstanding balance on the charity's loan with Rural Ministries is secured on the River Rooms. At 31 August 2020, the balance was £137,782. The loan is due to be fully repaid in March 2031. The accounts were approved by the trustees and signed on their behalf by date[-------------------------------------------- ] ------------- The notes on pages 17-19 form part of these accounts. 16 | P a g e |58,664
-
**58,664**
65,863|Interest Payments on loans
2,145
-
**2,145**
2,818|Other operating costs
5,090
-
**5,090**
6,638|River Rooms Operating
2(a)
9,258
-
**9,258**
11,313|Employment costs (including Pension payments)
42,171
-
**42,171**
45,094|**Notes**
**£**
**£**
**£**
**£**|**funds**
**Funds**
**2020**
**2019**|**General**
**Restricted**
**Total**
**Total**|**2**
**undertaken directly**|**Payments in relation to charitable activities**|for specific activities or projects.|are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals|the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds|General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of|intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.|payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not|that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and|payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined|The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and|**1 Accounting policies**| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| **----- Start of picture text -----**
Other donations (UK) Rural Ministries Church Planting (UK and Europe) Grants for: Insurance Repairs and Maintenance Utilities
Notes
,3 ,1 ,9
£ funds General 355 7,833
510 590 1,200 720 258 1,070
£ Funds Restricted
- - - -
,3510 ,590 1 1,200 720 £ 2020 Total ,9258 355 1,070 7,833
,5160 ,240 1 1,200 2,720 £ 2019 Total ,313 11 363 821 10,129
**----- End of picture text -----**
|**Total funds**|||River rooms loan repayment fund|Funding for Emily Patterson|_Restricted funds_||River Rooms (Repairs and Maintenance Fund)|River Rooms (Rental reserve)|General Church Activities|_General Reserves_|General funds||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**37,991**||**500**|500|||**37,491**|10,000|10,000|5,000|-|**12,491**|**£**|**31.08.2019**|**at**|**Balance**| |**108,273**||**20,000**|15,000|5,000||**88,273**|-|-|-|-|**88,273**|**£**|**Receipts**||| |**(92,113)**||**15,500**|15,500|||**(76,613)**|-|-|-|-|**(76,613)**|**£**|**Payments**||| |**-**||**-**|-|-||**-**|5,000||-|-|**(5,000)**|**£**|**Transfers**||| |**54,151**||**5,000**|-|5,000||**49,151**|15,000|10,000|5,000|-|**19,151**|**£**|**31.08.20**|**at**|**Balance**|