2024-08-31-accounts

Broadgrace Charitable Incorporated Organisation Trustees’ annual report and financial statements

1[st] September 2023 – 31[st] August 2024

Contents

Trustees’ annual report	page 1
Financial review	page 9
Independent examiner’s report	page 11
Financial statements and notes	page 12

Trustees’ annual report

For the period 1[st] September 2023 – 31[st] August 2024

Reference and administration details

Charity name and registered charity number

Broadgrace | 1171839

The charity is also often referred to as Broadgrace Church.

Charity’s principal address and contact details

Broadgrace Church, The River Rooms, Church Street, Coltishall, Norwich, NR12 7BX.

01692 535593 | www.broadgrace.org.uk | [e-mail]

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

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 ‘Constitution’), dated 21[st] February 2017.

Broadgrace CIO was created to replace an existing charity, Broad Grace Charitable Trust (registered Charity number 1136670). 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.

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Appointment of trustees

Charity Trustees are appointed by a resolution passed at a meeting of the ‘Spiritual Leadership’ of the 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 have ‘external’ trustees as members of the board. They bring a broader perspective and wisdom that is a valuable addition to that brought by the trustees who are more closely involved with the day-to-day work of the charity. They also contribute different and valuable experience of work and church life.

Governance and management of Broadgrace

The Constitution states that: ‘The spiritual government and leadership of the Church Fellowship for the 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 Constitution and by general law.’

The Spiritual Leadership of the church is currently 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, John Hindley is employed full-time to serve the church. Daniel Ernst was employed one day a week to serve the church until November 2020 at which time he resigned from this position; he continues as an elder and trustee of Broadgrace. All matters relating to employment are delegated to a formal Remuneration Committee made up of Matthew Hall (Chair), Timothy Chapman, Fiona Foreman and Stephen Michael. This committee undertakes all discussion of salary, terms and conditions and other matters relating to employment. Employed trustees will not become members of this Committee.

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. Once or twice a year they aim to have an ‘away-day’ together to allow for wider reflection. They also meet for an evening from time to time either socially or to discuss theological matters 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 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.

Professional advisors

Bankers

HSBC, 18 London Street, Norwich, Norfolk, NR2 1LG.

Independent examiner

Richard Williams, 9 Kingsway, New Malden, KT3 6AJ.

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Public benefit statement

The trustees are satisfied that the activities we undertake to meet our charitable objects are for the public benefit. All our various meetings, groups, courses and events are open to the public; events and activities are advertised as widely as possible and church 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 would be Tiddlers , our weekly baby and toddler group which is widely regarded as a making a valuable contribution to village life.

We continue to use our building, The River Rooms, to serve the local community. The facilities we provide there are available to everyone. We have a good relationship with our long-term tenants, A Piece of Cake tea room, as well as with the tenants in our offices. In 2024 we renewed the lease with A Piece of Cake for a further ten years. We took this as an opportunity to celebrate with Liz the partnership we have now enjoyed for ten years.

At each of their meetings, the trustees consider how the charity is benefitting the public, both 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 follow him in living as a church 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 Christ. 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, shaped by Christ’s gospel, 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 ministry rather than being dominant. We are more concerned with being the family of God than doing particular things (important and necessary though they may be).

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 fruitful. This is because we are free to respond 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.

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Prayer towards church planting

We have been growing in number slowly and steadily over the last few years. This has got to the point where we are occasionally beginning to reach the capacity of our building for Sunday meetings. This is not so much during the meeting, as we have about 85 seats and there have always been 10-20 available. It is more during the tea and coffee time at the end of the meeting, especially in the winter when the children cannot play outside, that we notice it.

Rather than seek a larger venue for Sundays we would much prefer to be involved in planting or revitalising a church. We are not clear where or how we should go about this and so decided to devote 2024 to praying as a church family for the Lord Jesus to lead us into this if it is his will.

This prayer has led to conversations and ideas being shared by the church family. We are looking forward to seeing where this will lead to, both as we seek to crystalise these ideas towards the end of 2024 and then to work out what the Lord is showing us in 2025.

Big Day Out, 8[th] June 2024

Each year a weekend or day together in the spring or summer has been a significant part of our church life. this year we had a “Big Day Out plus” on Saturday 8[th] June. We spent the day together at North Farm, the home of one of our church members. A number of the church family also stayed over on the nights of the Friday and Saturday, either in the house, camping or in the bunk rooms and shepherd’s hut on site (this was the “plus” part to our day together and really enjoyable for those who stayed).

We were blessed to have the Slee family join us for the weekend, with Ben Slee teaching about the role and importance of singing in our church life. These talks, and the workshop to introduce us to some new songs that Ben led, were incredibly inspiring and encouraging. We usually find that these days together are important times but this year it felt particularly so, with a deep sense of our unity in the Holy Spirit and the work of Christ among us.

Community events

We have been part of a number of very enjoyable community events during the year. We held our usual Crib Service on Christmas Eve which saw a number of visitors. We then held an Easter Explained event, which involved an afternoon of activities for families followed by a family service explaining the events of the first Easter, and a hot-dog supper. We were very pleased by the number of families that came and the engagement and positive feedback that we received. This felt like a huge encouragement regarding our desire over the years to build friendships and connections with our neighbours.

After the Easter holidays we took part again in the village scarecrow competition over the early May Bank Holiday weekend. We involved Tiddlers and the children’s groups in making a very good Aslan scarecrow, with supporting explanation and even a talk to watch via QR code. This is the photo on the front of our report. On the Sunday of the festival we helped children to plant sunflower seeds and enjoyed chatting with lots of friends who were looking round the scarecrows. We were very pleased to engage with lots of families and also to win the “community group” category in the festival.

A good number of the church family were involved in all these events. We also saw a lot of friends coming along and making comments about how they know it would be a good and enjoyable time because of the friendships they already had or the interactions they had had with the church. We have always hoped to be part of village life, contributing positively in what we do as a church and individually in our love for our neighbours. To get this sort of response and feedback is a joy to us.

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Other activities during 2023-24

As well as these significant matters, we also engaged in the following ministries and areas of church activity, many of which are ongoing but no less important for that:

• Church staff: we continued to employ both John Hindley (full-time) and Emily Paterson (two days / week) as church staff. Our understanding is that this does not increase their significance or authority as members of the church but simply frees them up to spend more time on ministry than they would otherwise be able to. They also take on a greater degree of the administrative work of the charity as a result of this extra time, to free others for works of ministry. John has continued to supervise Emily in her work, aiming for a light-touch and relational approach that seems to suit Emily. They both received an annual review with our trustees to help them in their faithfulness and effectiveness in serving Christ in Broadgrace.

• Sunday review: we had concluded the Sunday review by summer 2023 but were finishing putting changes into action during the autumn of 2023. These changes included a greater use of teams in the life of the church (for example, a catering team and AV team). These have proved effective in using the gifts of church members more fully and sharing responsibility and leadership more widely in the church family. We have also continued to work together as meeting leaders and preachers to grow in our skills and improve the up-front aspects of our church meetings.

• Church family meetings: as well as the review mentioned above, we have continued to enjoy Sunday meetings together as the main focus of our church family life. We preached through the books of 1 and 2 Thessalonians and Jonah over the course of the year. We also had a short series looking at our church life together at the beginning of 2024. After Easter 2024 we began a series in Matthew’s gospel that we anticipate will take us through the rest of 2024, 2025 and into 2026. This will be interspersed with seasonal series at Christmas and Easter and three short (five-week) series looking at the lives of the first three kings of Israel: Saul, David and Solomon. These ‘Pictures of the King’ series were planned by Matt Timmins as part of his Crosslands study, working together with John.

• Baptisms and thanksgivings: On 1[st] September 2024 we held a thanksgiving service for one of the children from our Toddler group. Her family wanted to thank God for her and pray for his blessing on her as she grows up. This was a lovely celebration and a great chance to share more of Christ’s love with a family who have been along to a few services and events at church.

• Community groups: the three community groups have continued to meet, all now on a Wednesday evening. These group focus on sharing our lives together, studying the bible and praying for one another and wider matters. We think it is likely that we might need to consider growing to four groups in 2024-25.

• Church family prayer meetings: in 2024 we began a monthly church prayer meeting, on the last Wednesday evening of each month. These have been good and encouraging times so far, with a different focus each time as well as regularly praying for our country, villages and church. They have been enjoyed by those who come, although attendance is lower than would be the case at community groups.

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• Wednesdays together: once again we had a break from community group meetings for the first few weeks of the Easter term. These meetings provide the opportunity to gather together for some teaching at The River Rooms. Again, having Zoom capability really helped those at home to join in. this was particularly appreciated by parents, where one could come in person and the other join on Zoom. We had a discussion leader on Zoom as well as on the tables in The River Rooms. The subject of our Wednesdays Together this year was an overview of the scriptures. Emily organised the series, with a range of church members leading different weeks, which made for engaging and varied approaches.

• Tiddlers: we meet weekly for this baby and toddler group. We have two teams, that alternate, giving volunteers a lower commitment. There is a lot of unity, fun and commitment from the team and a warm, welcoming, fun atmosphere to the meetings. We continue to have a story and song time each week before the snack, focusing on a bible story. We have repeated the Bible story for three weeks, varying the way we tell it, and this familiarity seems to have been appreciated by children and grownups. Numbers have been lower than in previous years, although with a higher level of regular members than at some points. We will need to look into more actively advertising the group in 2024-25 as it is clearly appreciated but a shame that more parents and carers do not seem to know about it.

• Kids’ Club: we have three groups: a younger Kids’ Club (for primary school age children), an older girls group and an older boys Bible study. All three groups meet fortnightly, the boys group in homes after school on a Wednesday and the other two at The River Rooms on a Sunday morning. The leaders put in a lot of time and effort and run excellent meetings. They also pray for and build friendships with the children. These groups have seen children inviting their friends from school, both to outings and parties and to the regular meetings. We are really glad to see them as an opportunity to draw others in as well as for the children to grow in their faith.

• Girls’ Bible studies: two of the three teenagers who were part of this group left the area for study or work this year. This led to the group ceasing to meet together although the leaders, Flick and Mim have continued to meet with the remaining girl and also the others when they have been at home. The group met intermittently when it was possible. By the end of the year this group has disbanded. There may be reunions but there will not be an ongoing group for now. The remaining girl is going to help Anna and John lead the younger Kids Club group and will continue as part of church, with supportive friendships with Flick, Mim and others at church.

• Safeguarding: we have further reinforced the training on our new suite of policies that we begun in 2021-22 and are encouraged by both the safe and careful way that our groups are run and the care for children and awareness that we might be able to help prevent harm to children we come into contact with when they are elsewhere by listening well and being observant. John has completed safeguarding training for church leaders and trustees run by Christian Safeguarding Services (CSS). We continue as members of CSS who provide advice, training and DBS support for us.

• Missionaries: we continued to support the family we sent in 2018 on long-term mission service to Central Asia. We had the joy of welcoming them back to Norfolk for part of their home assignment in the UK over the summer of 2024. They spent a couple of weeks with us in July. During this time we were able to hear from them about their ongoing ministry, renew friendships, provide advice and support and to spend much time praying with them and simply enjoying being together again. We love

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this family very much and consider that our ministry as a church is in Norfolk and also Central Asia where they serve.

• School’s ministry: John continued as a governor of the Nebula Federation. He is attached to St Faith’s School as their Foundation Governor. This gives him the opportunity to visit the school to help with the RE teaching and to support the work of the school and the head teacher. In July 2024 this included him being involved in an Ofsted inspection of the school, following shortly after involvement in the inspection at Frettenham. He has continued to take assemblies regularly at St Faith’s and also at Frettenham School, Hainford School and Coltishall School. Emily has continued to lead assemblies at Worstead School. Emily was also able to help with RE provision in Buxton School. John and Emily have helped with RE in the schools where they also take assemblies.

• Writing: John has continued to contribute articles to The Marlpit (the monthly village magazine for Coltishall and Horstead) and the Frettenham Newsletter (which is quarterly). We were encouraged to have a couple join us during the summer of 2024, in part as a result of having read the articles in The Marlpit . John has been working on a proposal for a book on leadership over the summer of 2024 which looks likely to receive a book contract and be published in due course.

• SaRang Church: we continue to enjoy our partnership with SaRang Church in Seoul, South Korea.

• Acts 29: we continue as members of Acts 29. As part of this john has mentored a church planter in Cambridge during the year.

• The Rural Project (TRP): John was the speaker at the inaugural conference for this new network in September 2023. The aim of TRP is to encourage and enable mission and church planting in rural areas. John has joined the steering committee of this and also helped to tutor a cohort using the Rural Ministry course he wrote for Crosslands.

• Norfolk Gospel Partnership (NGP): we have benefited from a number of events run both for church members and elders by the NGP. John is still on the steering committee and is assisting Richard James in leading the training strand of the gospel partnership.

• Crosslands learning site: part of the Norfolk Gospel Partnership’s training provision is the Crosslands Learning Site, based at Holy Trinity in Norwich. Several church members once again studied with Crosslands this year and Emily served as a tutor on the course.

• Crosslands seminary: Matt Timmins has continued with his study on the Crosslands Seminary course, with John acting as his mentor for this. This has continued to be a blessing to Matt and through him to the wider church family. The church is able to cover half the cost of the fees for this course, with Matt raising the rest.

• Wider ministry: John had a number of speaking engagements during the year, both online and in person. His book Weakness our Strength , was published in August 2023 and has led to him being asked to speak on it from time to time in different contexts.

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• The River Rooms: we had built up a surplus over the last few years and agreed with Rural Ministries to pay down the capital on our building loan by £35k. These payments were made in September 2023. At the beginning of the 2023-24 year the building was fully let. We lost the Corner Office tenant in March 2024 when he was unexpectedly made redundant. Over the Spring of 2024 Stephen Michael worked with Liz from A Piece of Cake (APOC) on the renewal of the ten-year lease that the tea room has with us. This was renegotiated to everyone’s satisfaction. APOC are now not opening on Sundays, which is useful for church activity. The lease renewal was a good chance to celebrate ten years of partnership and friendship and to look forward to a further ten. We are looking for new tenants for the Corner Office and might also need to do so for the other offices as the current tenants have given advance warning that they might not stay beyond their current lease term (due to finish at the end of March 2025).

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Financial Review

The charity raises money primarily through the giving from 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 2024, £54,350 (2023: £51,556) was received in donations, with an additional £9,850 in gift-aid receipts.

Additionally, £38,747 (2023: £36,591) was received in rental income from the River Rooms and £2,709 (2023: £2,850) in other income including royalties from John Hindley’s publications.

The value of direct charitable activities was £90,381 (2023: £83,505). Grants and donations paid out were £5,874 (2023: £5,905) which includes grants and contribution to fees for Matt Timmins to support his study at Crosslands as well as donations to a number of other local and national charitable organisations.

Loan repayments of £42,807 (2023: £10,438) were made against the interest-bearing loan held with Rural Ministries.

Statement of the charity’s policy on reserves

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 2024 was £33,077 which included tenants’ deposits of £3,279.

Details of any funds materially in deficit

There were no funds in deficit at 31 August 2024.

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.

Statement of trustees’ responsibilities

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.

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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 integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

Independent Examiner

Mr Richard Williams has been appointed as the charity’s independent examiner. His report can be seen on page 11.

Approval

This report was approved by the trustees and signed on their behalf by:

Stephen Michael Chair of Trustees

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Independent Examiner’s Report to the trustees of Broadgrace CIO

for the period 1[st] September 2023 – 31[st] August 2024

I report to the trustees on my examination of the accounts of Broadgrace CIO ('the charity') for the year ended 31 August 2024 on pages 12 to 15, and notes pages 1-3.

Responsibilities and basis of report

As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in accordance with section 130 of the 2011 Act; or

2. 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

Richard Williams

Address: 9 Kingsway, New Malden, KT3 6JA

Date: 25 June 2025

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Financial Statements for the year ended 31[st] August 2024

Receipts and Payments Accounts

		General	Restricted
		Funds	Funds	2024	2023
	Notes	£	£	£	£
Income receipts
Donations, legacies and grants		54,350	-	54,350	51,556
Gift aid receipts		9,581	-	9,581	13,343
Income from charitable activities		2,709	-	2,709	2,850
Rental Income		38,747	-	38,747	36,591
Investment Income		789	-	789	134
Total		106,175	-	106,175	104,474
Capital and similar receipts		-	-	-	-
Total receipts		106,175	-	106,175	104,474

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		General	Restricted	2024	2023
		Funds	Funds
Payments	Notes	£	£	£	£
Payments in relation to charitable
activities undertaken directly	2	90,381	-	90,381	83,505
Grants paid in relation to charitable
activities undertaken by others	3	5,874	-	5,874	5,905
		96,255	-	96,255	89,410
				-
Purchase of fixed assets		-	-		-
Purchase of investments		-	-	-	-
Loans repaid		42,807	-	42,807	10,438
		42,807	-	42,807	10,438
Total payments		139,062	-	139,062	99,849
Net of receipts / (payments) before
transfers		32,877	-	32,877	4,625
Transfers between funds		-	-	-	-
Net movement in funds		-32,877	-	-32,877	4,625
Cash funds as at last year end		65,964	-	65,964	61,339
Cash funds at this year end		33,077	-	33,077	65,964

Pages 14 and 15 and notes on pages 1-3 form part of these accounts.

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Statement of assets and liabilities

				General	Restricted
				funds	funds		2024	2023
		Notes		£	£		£	£
A	Cash funds
	Cash at bank with immediate
	access			33,077		-	33,077	65,96
	Notice deposits	-	-	-	-	-	-
	Petty cash	-	-	-	-	-	-
				33,077		-	33,077	65,96
B	Other monetary assets
	Gift aid due to charity			3,067	-	-	3,067	2,36
	Other debtors			-	-	-	-	5
				3,067	-	-	3,067	2,41
C	Liabilities
	Interest Bearing Loans			59,747	-	-	59,747	102,17
	Non-interest bearing Loans			-
	Tenants Deposits			3,279	-	-	3,279	3,65
	Grants payable			-		-	-
	Accrued expenses			-	-	-	-
				63,026		-	63,026	105,83

£7,703 of the interest-bearing loan is due within the 2024/25 financial year.

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D Assets retained for charity's own use

	Current
	value
	£
Fund to which
asset belongs
Land and buildings (The River Rooms, Coltishall) 630,770	630,770
Furniture and PA Equipment	37,744
	668,514

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. Total loan repayments including interest due for 2024/25 are £10,907 although this may increase if interest rates rise. Interest rate is set at 1% above base rate.

In addition, an extraordinary loan repayment of £35,000 was made in September 2023.

The accounts were approved by the trustees and signed on their behalf

by Date:23 June 2025

The notes on pages 1-3 form part of these accounts.

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Notes to the accounts

1 Accounting policies

The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

Payments in relation to charitable activities

• 2 undertaken directly

Payments in relation to charitable activities undertaken directly
		General	Restricted	Total	Total
		funds	Funds	2024	2023
	Notes	£	£	£	£
Employment costs (including Pension payments)	Employment costs (including Pension payments)	57,924	-	57,924	54,499
River Rooms Operating Costs	2(a)	20,110	-	20,110	17,688
Other operating costs		8,195	-	8,195	6,376
Interest Payments on loans		4,152	-	4,152	4,942
		90,381	-	90,381	83,505

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			General	Restricted	Total	Total
			funds	Funds	2024	2023
2	(a)	Property costs comprise:	£	£	£	£
		Utilities	14,297	-	14,296	12,764
		Repairs and Maintenance	4,444	-	3,932	3,852
		Cleaning	833	-	833	610
		Insurance	536	-	535	463
			20,110	-	20,110	17,688

3 Grants paid in relation to charitable activities undertaken by others

	General	Restricted	Total	Total
	funds	Funds	2024	2023
Grants for:	£	£	£	£
Church Planting (UK and Europe)	720	-	720	720
Rural Ministries	1,200	-	1,200	1,200
Funds for theological training	2,125	-	2,125
Other donations (UK)	1,109	-	1,109	2,870
Other donations (Overseas partners)	720	-	720	1,115
	5,874	-	5,874	5,905

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4 Transactions with related parties

John Hindley (Full-time) was employed as Pastor. Total remuneration package was £45,214 (including pension contributions of £7,535) for serving in that capacity, not for serving as trustees; these payments are permitted by the charity's governing document.

The only other expenses paid to trustees were reimbursements for items purchased in relation to ministry and travel expenses for the employed staff. All expenses payments were in line with Broadgrace financial policy and were approved by two signatories.

5 Movement of funds

Movement of funds
	Balance				Balance
	at				at
	31.08.2023	Receipts	Payments	Transfers	31.08.24
	£	£	£	£	£
General funds	40,965	106,174	-139,062	-	8,078
General Reserves
General Church Activities	5,000	-	-	-	5,000
River Rooms (Rental reserve)	10,000	-	-	-	10,000
River Rooms (Repairs and Maintenance Fund)	10,000	-	-	-	10,000
	65,965	106,174	-139,062		33,078
Restricted funds	-	-	-	-	-
	-	-	-	-	-
Total funds	61,339	106,174	-139,062	-	33,078

3 | P a g e