GRACE BAPTIST
CHARITIES LIMITED
FINANCIAL STATEMENrs
FOR THE
YEAR El￿ED 31 DECEMBER 2023
Company nutnber: IM)090055
Charity number: 1172489
CoDtents
Pagt
Report of ihe Directors
Direcior5' Rttsponsibiliiies
Report of the lrtdepertdeni Audiior
Statement of Financial Actiwties
Balance Sheet
Staiement ofcash Flows
No*s to rhe AceoLmts
10

GRACE BAPTIST CHARITIE5 LIMITED
(BY GUARANTEEI
REPORT OF THE DIRECTORS FOR TFIE
YEAR ENDED 31 DECEMBER 2023
Objettives and ActlVLties
ie coinpaiis a¥iS as a Lorporaie Inisi¢e of chai'itaL)le tivsts. and acts as Custodian tnistee for a number ot churches.
The company a150 receives loans froin chuiches and charithblc tIllSl5. and as5i5ts 5vme chui'clies and tyusis tlii'ougli
the provision of loans and olher advances.
The direciors confimi ihal rh¢y have liad due regard to the giiidance issued by the Charity Lomiiii.sSlOti on public
beiiefir. Iii particular, Ilie role as ￿15[¢¢5 for ¢liurch¢s and the provision of gi'aii¢s aiid loan5 from irust fiiiid5
ti)wai'd5 the stipend costs of pastors and ihe Inain￿￿OnCe of chuich buildings coniribute to rhe pl.ov1￿(On of
huiches aiid worsliip services.
Achievemenls and P¢rforrnance
The company coniinued to support chuiThe8 ￿1th major buildino redevelopinenr scheme5 througli loan fundin¥
and advice.
The ¢otllPdliy mana(Tes il iiumber of tNsi funds ai)d &pi?iits ot £87.?54 were niade to Nelve ¢hur¢hes from ihem.
These were for buildints repairs. siippon for i)iiiiisrer5 aiid biiildinD
projects. In addition. granrs of £60.000 wa5
made lo the AGBCSE Tfainins Fuiid 10 lund iraining tutiire n)iiiisiers arid L?4.000 lo AGBLSE HOML Mission t(Tr
fund local niiss10n siipport in ihe cliurches Inierest of £7i,917 distributed to cliurclies irusis for charii)
loan balances held.
Finaiicial Review
The Eil)iLal Invesimeni Poliiy loi. Ilie poiilolio ol. iiiv¢sirnenis (ndnaued by Investec Wealih & Investmeiii Limited
wa.% rcvieived in ?0? l. The performance iva.% al%0 moiiitored through the vear aiid reponed io Ihe Board of
dii'tciors. l-his poiitolio represeiils nioiiies held oli belialf ol Ilie Associarion ol Cira¢e Bapti.st Churches (South
Easll. 'AGBCISEI" and Ii'usis foi. which the cornpany is ttus(e¢.
Duriiig the yeai., short ierm loans fi'oin Lhui'4h¢s wid rwsts l iiicluded iii creditors) iiicrcased by £78,731. This is
Inaiiily due to addilional invesiiiieni by tlie churches fund fuiure project5, but Ivii&er ienn loaiis decreased by
£35,01 l. This is rnaiiily funds being uiilised io niaiiiiain iiiini.%lrie.%. Loans to churclie% and Irusrs liiicludcd in
debtor5) d¢Lrtdsed £167 81? This is mainly du¢ to Th¢ coimpleLLon of one ol- building projeci in iht year
resLilting in repavnient of (he IDan. The nei effecr is a iiicrease in c&sh balances of £J81.397
ReJen'es i?olia'
The company I'egularly gei)erales a surplus froni accouiil Jnd property manageimeiii eliai.ges and the dii'cctois have
a poliL>' of di51ribiitlLigT ai)5 surplu5 funds eftih Jear by of a gr￿lt L() AGBLISEI. Thv Compan). Secrctary,
Finaiice Officer aiid oiher administrative siatt are eirployed b) tIIL Associalioii. Tlie directors have a￿'¢ed it is
appropriate to butld a small Irserve to cover futuit repairs aiid maintcnance for the property oH'ned b) Ihe
coiiipaiiy,. prioT to tlial It was lio¢ felL neccssai? to relain ieserves ii) lh¢ ¢onipanv, otlier than Il)e revaluation
reserye.
In ihe OPiTiion of Ihe directtsrs. tl)e 5thre ot-lhe company's affairs is satlsfaclory.

GRACE BAPTIST CHARMES LIMITED
IBY GUARANTEE)
121
REPORT OF THE DIRELTORS FOR THE
YEAR ENDED 31 DECEMBER 202)
Icoiiiinued)
FiirtdrÉii.Yi17X
Iii rec¢iii ye￿.$. the ¢ompai)v has liniiL¢d ils fuiid-raisino activities to discussioii at meetiiigs of iru5t¢es aiid
Iiiembery ai'ound budgiets and coiiiparison of acwal outnim versus budtset. Mie conipany doe5 not eiiiploy outside
or coinm¢i"cial fuiid-i"aisers. and does noi make appeals tor fuiids beyond its rnenibeis. The ¢ompaiiy ha% not
siib5Lribed to aii). fuiid-raisiiig regulator.
Future Plans
The company ¢oniinued to support tlie retndining Ilvo Luri"eni redevelopmeiii sclieiiie5 tlii'ough 202i and into 20?4.
It has been iiivolved in tlie pi'e-planiiiiig of a fi]iiher three poiei)lial dewelopmcnts. Ir coniinuc.% 10 support other
Lhurches ihrougli tlie provision of LI￿5( sTri'aiils The Loinpaiiv 15 conliiiuiiig its l<iiionali5alion pi'o4ramine lo seek 10
i'cduce Ilie niirnber of managed Irusis bj. mergii)g tnist5 whil.4t followiii¥ the Charity Commisioii regiili¢ IIOIIS.
Struclure Govern¥nce and Management
The conipany. was incorpoi'aied linder Its Memorandiim and Anicle.s doted 13 DLcember 1907. In lh¢ iv¢nt uf (he
cornpany beillu wouiid uy. tlie iiiembers are eacli reqiiiyed 10 coiitribiitc an oinoiint i)ot exceediiig ?5 pence. Tlie
dii'eciors ol. the Lomplllly (he otrice￿ and meinbei's of ihe Ex¢Liiiiwe Committee OF tlie Assotiation of Grace
Bapiist Chui'clies Isoiitli F.asi), pi'ovided tliai i)ot more Ilian one-lialf of such nienibei's are pasiors of aSs￿lated
chuiclies. No maxii)Iiim iiLimber of director5 is sp¢cilied in the Memorandum and Aiticles.
TIw51ee tiaiiiiiig cniirses are made aTrailahli to Ihc diiectOTS each year aiid CliariN Commissioi) iipdates are reported
dt Association Comjnittee Meetings lo keep diiectors infoiined ol. cuiient 155ues and changes iii lcglsl￿tIo17 etc.
117ve.siiweiiipoli
The diirctoi's exercise the invesirneiii poThers of Ihe iiidividual chiirches and trusis in accordaiice wilh Ilie pow¢r5
and policies ot. tlie churches arid Irusts. The coiiipan). s own iLive5liiieii15 are niade iii accordance with tlie
invesimeiii poivers coiiiained i*iihin the Tru51¢e Aci ?000.
Tlie direciois have assessed the priiicipal risks to which (he coinpaiiy i.s cxposed, iii paiiicultjr those related io the
opei'alioii5 Iiiid fili￿lLe of Ihe Lonipans, aiid ai-¢ satistied il)at pnKedui'es are iii pla¢¢ to initi￿ ate it5 c%posure to
tlieni. A risk regisrer 15 In place and 1% rcvicwcd on a regpular basis.
Risk-5 identified include iioii-coinpliance with cliarits, lilw.. liquidiTr Imirigated by Inan tcrnis in place wilh chui'cliLS
¢t¢.- spread of iJive51mtiils: r¢view of pyopeiij holdiiigl and Ios5 of dara and s)'st¢ms lJiiiLibNate¢J by coi)IraLlii)u with
ext¢rn&l 5uppIiLr ot l.T. suppoit and oft site backups).
Gft'LIIRi iiioklng poliL!'
TIIL company does noi ni¢lke gi'anls froim company funds, otl)er than payinents io (he beneliciary. chui¢lies under
the legaLJ fuijds. l-hese graiits are issued iii accordaiice w iih tlie Icrms of tlic le¥acies. Wl)¢￿ Ilie Board makes
rai)Is fron) the Irusts for wliich li is the Irusiee, die gi?iiis ar¢ made iii accordaiice with Il)e terms of ihe individual
trusts.

GRACE BAPTIST CHARMES UMITED
18Y GUARANTEEI
131
REPORT OF THE DIRECTORS FOR THE
YEAR ENDED 31 DECEMBER 2023
l¢oiitillu¢d)
Reference AdmlthL5tr8tlve Detalls
The dIre￿Or$ who sc￿ed the coinpaiiy for die whole 01- any part of the year were as follows..
Chaimian.. A Creedy.
P Fuggle,
A G3rdn¢r (Finance Officer).
B Jones (Appoinied Nov 2023),
A Kin¥,
D J Mortimer.
Mi55 M O, Mara,
A A Ollley (resigi)ed Sept 20?31:
P Smith.
J Southcombe (Treasurer}
P M Woodley
Company Seeretsry".
Finance Officer..
L WiDmill
A M Gardner
The Compan> Secrdaiy. who is employed by AGBC(SE), has delegated authority io auihoris¢ rnutine and ploiined
mailltenaiicc for Iru5L A55ociation aiid church propertle5 Wlthin an annual budget. The budget is approved by the
Board in Nov¢mb¢r for th¢ following y¢ar.
Retsisiered office..
62 Bride Stsre¢ London, N7 8AZ
The priiicipal advisers of (he company are as follows..
Audiiors..
Ja¢ob Cavena¥li & Sk¢¢l, 5 Robin Hothj Lane. Siition.
Surrey SMI 2SW
Principal BaiikeT5
CAF Bank Limited, 25 Kiiigshill Aveniie. Kiiig5hill. Wesi
Mallink. Kent ME19 4JQ
Suffolk Building s￿iety, PO Box 547. Ipswich, Suffolk,
IP3 9WZ
Principal Invesknnent Managers..
InvesieL Wealih and Investment Lid. 2 GL'e5ham Street.
London EC2 7QP
Principal Soliciiors
Carter, Lemoii Camerons LLP, 10 Aldersgaie Street,
London. ECIA 4HJ
Edward Connor Solicirors. 10 The Poiiit. Market
Harboiough, LE16 7QU
This report lias been prepared iii accordance with the special provisions of Part 15 of the Companies Aci ?006
relaiii)g to 5niall companies.
BY ORDER OF THE BOARD
(2J
J. Southcombe
Direttor
1st July 20?4

GFIACE BAPTIST CHARITIE5 LIMITED
IBY GUARANTEE)
141
STATEMENT OF DIRECTORS, RESPONSIBILITIES
The diitciois (being trnsiees of the charitable companJ) are responsible for PrEparIn￿ the Directors, Report and the
rinaiicial statel￿ents in accordance with applicable law and United Kingdom Accouiiiing Stsndards Iuiiited
Kingdom Generally Ac¢ept¢d Accounlinx Practice).
Company law requires the directors to prepare financial 5t21ements for each f￿a]Icial year which giv¢ a true and
fair view of the slate of affairs ol the company and of the incoming resources, including the inconie and
expenditUTe, of die company for Ihat period. In preparing Ihose financial 5tai¢ment& ih¢ directors are required iu..
selecl suitsbl¢ accounting polici¢s and then apply them coiisistenily;
observe the metliods and principles in the Charities SORP
make judgements and esiiniares ihai are Irasonthle aiid prudent-
stale wliedier applicable UK Accounting Standal'ds havc been followed. subject to any materia
departutts. and
Pf¢Paf¢ th¢ finaiicial statements on rlie going Concem basis, unless It ig inapprtyriate io presume that the
harTty will continue in operdtion.
The directors are responsible for keepiiig proper accounting records which disclose with reasonabl¢ accuracy at any
time the financial p05jtion of the company aiid to enable it to efi5ure that the flnancial siatemenis ¢omply with the
Companies Aci ?006. They are also responsible foT safeguardijig the &%sets of ihe compaiiy and hence for taking
reasonable steps foi- the pirvention and detection of fraud and oihth. irregularities.
The direc(or5 who held office at the date of approval of thi5 Annual Rep(rt as sei out above, each confiiTh (hat..
so far as they aware, there is no r¢l¢vanl audit infoiThation linfomiaiion required by the charity 5 auditoi. in
conneciioii with preparing their report) of which the charity's audi(ors are unaware,. and
the diTe¢iors have takeii all the sieps they oughi to have taken in order to make themselves awar¢ of any
relevant audi( infoniiaiion and to e5thblish thai the ch8rity'5 audiiotx are aware of ihai infomialion.
BY ORDER OF THE BOARD
62 Bride Street
Loiidoii
N7 8AZ
dffjl
J. Suiiil)ioIYibe. Direcior
Grace BgPt15t Charitles Llmited
1 st July 2024

GRACE BAPTIST CHARITIES LIMITED
IBY GUARAP4TEEI
REPORT OF THE tNDEPENDENT AUDITOR
TO THE MEMBERS OF
GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEE}
Opinio
We have audi¢ed the fillaiicial siateinenis of Grace Bapiisi Chariiies Ltd (Ihe 'eharity'l for the year ended 31
Decembei. 2023 which compi'ise ihe Siatemeni ot Financial Aciiviiies, rhe Balance Shtei. the Statcinent of Casli
Flows and the iio(es to ihe tinaiieial s(atemeiiis, inLILiding a summary. of sigiiifiLani ac¢oun(iiiL policies. The
rinancial reporting framework t]iai has been applied in tlieir preparation is applicable law aiid Uniied Kiiigdom
Accountinij Standard5, iJicludiTig Finaiicial Reponing Standard l O? The Fuiancial Reportinu
Stsndard applicable
in th¢ UK and R¢public of IIEland Iunii¢d Kiiigdom Gen¢rallv Acc¢pL¢d A¢¢ounting Prafjlice).
In oiir opinion the tinancial staiemenis-.
giv¢ a twe and fair vi¢iv of lh¢ stat¢ of th¢ chai'itable conipany's affairs as &¢ i l December 2023 and of il5.
incoming resoui'ces aiid applicatioii of resources for the year theii ei)ded-
have been properly prepared in accordance wilh United Kintsdom Generdlly Accepted Accouniing
Piactice- aiid
have been prei)ared in accordaiice with the r¢quirciiients of the Companies Act 2006.
Basis fur opinion
We condlic￿d our audit in accuid&inLe H'ith Intetnational Standard8 on Auditing {UK) IISAS (UK)) and applicable
law. Our responsibiliiies under Ihose standards are fu1￿ler described in the ALidiior's responsibilities for the audii of
tlie financial 5tatemen15 seclion of our report. We al'e indepeiidElIt of the cliaritable coimpwiy iii accordance with ihe
e(hical requiremei)ts Ihar are relevant io our audi( of ihe fiiiancial sthieiiients ii) die UK. iiiLludiiig the FRC'S
Eihical Siaiidard. aiid ive have fulfilled our oiher ethical responsibiliiies in accordance ￿'1th the%e rcquiremeiits. Wc
believe thai the aLidit evidence we have obtaiiied is sufficient aiid appropriate to provide a basis for our opinion.
Conclusions relAting to going concern
In auditing the fjiiancial siateiiients. we have coiicluded that the directors. use of the goiiig conceni basis of
accouiiiing in ihe preparation of Ilie Iinancial s￿reme1}IS is appropriai¢.
Based on Ihe work we have perfurnied. we have not identified aiiy material uncertainties relaling lo events or
coiidiiiolls thai. individually oi. colleciively. may casi significant doubt on the Charity'5 abilily lo corilinue as a
going coiicern for a persod ot ai least 12 n)onths from when ilie fiiiaiicial staten)ent5 are aiiihorised for issue.
Oui. r¢spoiisibiliiies and the respoiisibiliiies of Ihe dir¢c(ors with re5p¢cr to goiiig ¢oiicerJi are desci'ibed in the
relewant seclions of this reporr.
Other information
The otlier ii)lormation comprises the intom)alioii iiicluded iii die ani)ual Irport, iiicluding the dIr￿torS, report,
other than rhe fiiiancial sratemenrs and our audilOI s report iheieoii. The direc￿15 are responsible for the ￿her
infoffliaiion COn￿lned withii) tlie aiinLial report. Our opinion 01) the fii)aiicial sratenienis does not cover Lhe other
infoTmalioii &nd, excepi to the extent oiherwise explicitly staled in our repoil, we do noi express aiiv form of
as511raiice conclusioii theiroii.
Our resptsiisibiliry is to read Ilie oiher inforniaiion and. ii) doinLI 50. consider wlieiher tlie oili¢i' information is
materially iiiconsisient wilh the financial statemellts or our knoilledoe ob￿ined in rlie course of Ihe audit. oi.
oilierwise appear5 10 be rnateriallj. nii55taled. It we identity such tnalerial incoiisisieiicies or appareiii iiiattmal
mis5taterneiit5, w'e Rre r¢quired lo detertnine wh¢dier Ihis ¥ive5 rise io a maieridl misstatemeni in tlie financial
statcmenL% themselves. If. based on the work we liave perfortned, we cohclude thai Ihere is a niaierial missiatenieni
of this other infoiJnation, w'¢ are IrqLiired to repoit that fact.
We liave iiothing to report iii Iliis regard.

GRACE BAPTIST CHARMES LIMITED
18Y GUARANTEEI
161
REPORTOF THE tNDEPENDENT AUD11"OR
ro THE MEMBERS OF
GRACE BAvfisT CHARITIES LIMITED
(BY GUARANTEE)
Iconiiiiued)
Opinion5 on oiher matters pre5crib¢d by the Cofflpklnies Acl 2000
In our opinion, based on Ili¢ work uiidenakei) in the cours¢ of our audit..
(he informaiion givcn in tlie Tnistee5' Repuit, which iiicludes th¢ dir¢LIOLS' report prepared for the
PUTpose5 of company law, for tlie financial year for which ihe finaiicial statemeiiis are prepared is
consistent WiLh the finaiicial SULenients: and
the directors report included witl)in the frustees, Rcport lia5 been prepared in accordanc¢ ivith applicabl¢
legal Irquirem¢ntS.
Marters on whleh we nre required to reporl by exceptio
In the light of the knoTh'ledge and uiidcistandin.
of the charity ai)d irs eiivironinevt obtained iii the course ol- the
aiidil, we have noi identified Inaici'ial iiiisstaten)ents in the direciors, report included with the diretior.s report.
We have noihiiig io report in respec( ot the followins matters in r¢lation to ivhich the Companies Act 2006
requires lis 10 rtpon 10 vou if. in our opinioii..
adeqiiat¢ accouiitinu record5 have not beeii kept, or i'eL11rn5 adequate ftsr our audii have been reccived
fron) branches TlO( V151ted by LIS., or
Ihe tinancial statcments are not ii) aoreemeni witli tlie acc(xiniiiig record5 and i'etums.. or
certain disclosiires of tn15tCes' I'emuiieratioii specified law are not made.. or
e have not Irceived all the infonmatjon and explanaiians w.e require for our aiidii.. or
Ilie direciors were iiot entitled to Prepare ilie finai)cial statemeiiis iii accoi'dance wilh ihe siiiall companies
r¢gim¢ and lak¢ advaiitaiTe olihe small companie5 exympiions in prcpariiig the dircctors, iep011 and from
the reqiiiremeiit to pr¢par¢ a 5traLe£y IL ieporl.
Responsibiliiies of directors
As eyplaiiied iiiore fvll}' in Il)e dii'ector.s' respoiisibilities siatemcni, tlie trustec.s' (wlio are al.%0 Ihe direclors of the
harl￿ble coinpany for the purposes of co11)p￿Y laKvl al'e respoiisible for ihe PTepdrnlioii ot'ihL tiiiaiicial stalcnieii15
and for being satisfied thai IhLy give a iwe and fair view. aiid for 5uih iniemal coiiirol as die tr1151ee5 determine is
ece55ary lo eiiable tlie preparatioii of fiiiancial sralemenis that are free fi'om maierial missiatcment. whetlier due 10
fraud or errvr.
In prLparing tlie fIna￿claI statel￿entS. the direciors are reskN)nsibl¢ for as5e55inu the charity's abiliry 10 contilllle as a
going concern, disclosiiig. as applicable, niallers related to goingj concern afid Llsinu
ie goiiig concern basis of
accouniing unless Ihe diieciois cithcr intelid (o liquid￿e the COrnP¢iny oi. to cease operalioiis. or have no reali5ll
altemaiive bul lo do so.
Auditor's responsibilities for Ihe auilit of the fjnanclal statements
Our objectives arL to obtain reasonable assiirancc about whetlicr ihe fiiiancial statemei)ts as 8 wliole ar¢ free frgm
IMaierial mi55raiem¢ni. whethei. due to I'raud or ei-ioi.. ￿ld to Issu¢ an auditor's report Ih<lt ii)cludts our opinioii.
Reasoiiable assurance is a higli Icvel of assui'ance, but is noi a gLiaraniee that an aiidiL lundiicted ii) aLLordaiice w'ith
ISA5 IUKI ￿,111 alm'ays deicci a maierial iiiisslalement wheii 11 exisrs. Missiatement% can arise fl'oin fraud or error
and are Loiisidered maierial if. individiially- or iii tli¢ a¥¥iegaltr, the¥ coiild reasoiiably be ¢xpected 10 iiifluence the
economic det1510115 of list￿ iaken on ihe basis of ihese fiiiancial staiements.
The exreni to whicli oiir procedures ￿ capabl¥ uf detEciing irre&iiilariiies, including fraud is deiailed below..

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEEI
REPORT OF THE TNDEPENDENT AUDITOR
TO THE MEMBERS OF
GRACE BAPTIST CHARITIES LIMITED
(BY GUARAf4TEE)
Based on oiii undersiaiiding of Ilie ¢oinpany. we idenlified that (he principal I'isks of noi)-coniplidnie witl) laws aiid
iegulaiion5 related to cliariry legislaiion aiid we con5idei.ed tlic cxlcnt (o w,hich noll-compliance mi¥hi have a
material effeci on ¢he tinaiicial sia¢enienrs. We also considered those laws and re(7ulatioiis that have a direct iiiipact
oli (he prepaiaiion ot t11e financial siale1￿¢1￿ts SLicli as the Conipanies Aci 2006 and Charit1¢5 Aci 2011.
We assessed ihe susceptibility of the coinpany's financial s(afemenis to ma￿rIal Liiisstaiemeni includiiig obiaiiiiiig
an under5taiiding ot how fraLid Tnight occui.. by tnakiiig eiiquirie5 of Tnaiiagemeiit. ¢onsideriii(T (he internal coiitrols
in place aiid di5CU5sion amoiiLF51 the ¢ngag¢iii¢Mt teaiii.
We deiemiiiied thal the principal risk's were relaied ro Inanagenient bias in accouiiting estimates inclLiding
valuaiioii of inv¢s(ment propert) aiid Inanagemeiii overrid¢ ol conu'ols ard the i)IiS-Stalemellt ot prop¢rtv
transaciions or loan balances.
In Ir5ponsE io the risks identified we de518iied procedui'es which iiicluded. but ￿ere noi limiied t(Tr challengiiig
significant accoiiiitiiig esli1￿ales, evalua(ii)g Ilie compaiiy's Ill￿rnal Lonirols, wid verifying pi'operty iransa¢Lions
and loati balances w'i(h ihird parties.
There are inherent limiiaiions in the audit procediir¢s d¢scrib¢d above. The niore I"eiiioved that laws and
re¥iilaiion.% are frnm finaiicial traii.%aciions. the less likel J. it 1% tliat we M'ould becorne aware of non-c(Knpliai)ce.
Matei'ial illisstaieiiients that arise diie lo fraiid cali be hai'der io delect than those iliat arise from error as Il)es' may
involv¢ deliberate eoncealineiit or cgllusion.
A ftirther description of our responsibilities for the audit of the finaiicial sialcmcnis is locared on tlie Fiiiaiicial
Repoiting Couiicil's iNebsite at. http.liWM*V.fic.o[(p U￿aUdit0rsresp￿IsibiljtI¥ts. This dr5cription lonns part ot- our
audiiorfs report.
Use of our report
T]iis Teport 15 Inade solely lo Ille cliaritable compdti)'s Inembers, as a body. accordaiice willi Chapter ! ot. Part 16
of ihe Coiiipanies Aci 2006 and I'ebFulaiioiis niade uiidei. that Aci. Our audit work hab b¢eii undertaken so ihai we
niiglit statc ia tlie charitable conipaiiy's ni¢mber.s Ihikse maitcrs we are required to slate to Ihem in an aiidiion.
Irpuit aiid for iio oiher puipose. To Lhe fijllesi ¢xLeiit peniiitied by law, we do nol accepl oi" &isbume rebponsibiliiy 10
anyone oiher Ihaii Ihe chariwblc coiiipaiiy aiid its m¢mb¢rs as a body. foi. our audit work. for thi5 report, or for ihe
opiiiions M"e have fomied.
R l Haffenden MA (Cantab) FCA (Senior Statutory Auditor)
for 2nd on behalf of Jacob Cavenagh & Skeet.
Sialutory Allditor
Chai'lered Accountants
5 Robin Hood Lane.
Sutton.
Sun"ey
SMI?SW
Daied.. I S T_
2£)1

GRACE BAPTIST CHARITIES LIIIITED
18Y GUARANTEEI
STATEMENT OF FINANCIAL ACTIVITIES
IINCLUDtNG tNCOME AND EXPENDITURE ACCOUNTI
FOR TEIE YEAR ENDED 31 DECEMBER 2023
31123
Toial
Fund5
2022.
Total
Funds
Uthrtstrieted Restrieled
Fund
Fund
Tncome cNdoMment5 from:
Chariiable actiwiiies
Invesimeiiis
Nttle
80.566
80,566
89.5)8
I7O,I24
77.456
38.001
115,457
165,846
4.278
ExpeNdiiure on:
Raisillg fund5
Cliaritable activitLC8
Total expenditure
7.628
142,?57
149,885
7.628
14?797
149,925
6,742
105,098
111.840
40
Net ineome before Net gains I (losse5) on investments
15.961
4.238
20.199
3,617
Net gains I1105ses) on invesunents
Realiscd {10sses} tsn iiivesiments
Uni'ealised 1 (losses) 01) 11)VLsimeiirs
14,071)
46.605
(4,071)
46.605
42,534
144,9591
(47,8861
Net income l {expenditurc} and Nei movement in Funds
58.495
4,238
62.733
144,269)
Rteonciliation of funds..
Funds bi'oiiJo it tonvard
Funds cariied forwurd
454, j3*
512 830
1 £3.643
157881
607.978
67n711
6)? ?47
607.978
10
No operations weie acqiiiied or disconiii)Iied diirii)g rhe year.
Prluryertr NllMIy515.'
Uiireslricl¥d ReilriL¢¥
Fuiid
Fuiid
21J??
rululfmjirfs
Income and endowments from..
77.456
36.075
113,531
77.456
38,001
I S,457
Investinei?Is
Total income and endowrnentS
1.926
1.926
Expendlture on:
Raisiiig fiinds
Cliaiirable activities
Toial eipenditure
6.742
105,098
111.84U
105.058
111,800
40
40
Operating surplus
1.731
1.886
3,617
Net IIos5e5) I gain5 on investments
Realised {losseg1 I gains 011 iiiv¢smients
Unrealised (losses) l uains 011 investsiients
(?.9?7)
(44,959)
(47.886)
(46,155)
(2,9?71
144.9i91
147,8861
144,269)
N¢t (expenditure) l income and Net movernent in Fund4
1,886
Reconciliation of fuNd5:
Fiinds brouglii forward
Funds carried forward
iOO.490
454 33S
151,757
li3643
652,?47
607.978

GRACE BAPTIST CHARITIES UMITED
(BY GUARANTEEI
BALANCE SHEET
AT 31 ST DECEMBER 2023
2023
2022
Note
Fixed 855¢ts
Invesunents
1.458.995
1,422.i19
Current a55ets
DebioTS liiicluding £703.017 (?022.' £857,031 I due
in more than one yearl
Investments
Cash at Baijk
Toial C'urren¢ qssel
735.135
892,145
61,020
1,343,645
2.139.800
159,669
863.604
1,915,418
Cr¢diiors: Aniounts fallii)g due wiihii) 01)e year
7 12.504,419)
{?.271.083)
Net eurrent (liabilities)
(364.619)
l j) f.(Tr6i I
Total assets Icss eurrent IIAbllitles
1.094.376
1.116().6i4
Creditors: Amounts falling dut after one year
(4?3:665)
14i8.6761
Total net a55¢ts
670 711
607 978
The funds of the charity:
UTrrestricled funds
Revaluation Reserve {IinJesiricted)
Toial Unre5trici¢d Fund
473,803
39,027
511 830
410,927
43,41)8
4)4,335
Restricied incom¢ fi]nds
Total funds
157,881
670711
607 978
These finai)cial statenienls have been pr¢pared in accordance with the 5p¢¢i81 provisioiis relatiiig to small
companies within Part 15 of the Companies Aet 2006 and were ttpproved by the Board on I st July 2024
and sig￿ed on their behalf by..
Company registraiion nuinber.. 00096055
Direcior
Gl'ace Baptist Charities Limited

GRACE eApnsT CHARITIES LIMITED
(BY GUARAi¥fEEI
1101
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2025
2022
Tolul Fmiids Tol41 F4ndJ
Stwtement of cash flows:
Table
Cash flows from operatlng activitles:
NeL cash provided by (used inl operating aciivities
292,426
351,057
Cash flows from investing activities:
Dividends, inteTest and reni from investni¢nis
Proceeds from sale of investiments
PUrch￿e of investments
Net cash provided by Iu5ed inl ithvesting aaivities
83.108
306.967
(202.460
(1,859.208)
187.615 11.279.036)
19.061
Change cash *nd ¢95h eqvivalents in the reporting period
Cash and cash equivaleiiis at the begiiiniiig vf the repoiting pcriod
Cash and cash ¢quiv4l¢n15 al the end of ihe reporting period
480.041 (A,630,0931
863.604
?,49j,697
T8ble A- Reconciliation of net incoffle l (exp¢nditur¢) to nei cash flow
froth oper#ilng *etivitles:
21123
3022
Net income l (expendittjre) for the reporting perithj {as per
tlie statement of fiiiancial activities)
Gains on investinents
Dividend5, interest and rent from invesrnients
{Iiicrease) in debtors
IncT¢ase l (decrease) in crediiors
Nrt e*sh provided by (used inl operating Activities
144,2691
47.8116
(19.061)
(41.176)
(294,4J71
-351.057
(42.534)
{89.5581
163.476
198.309
29?.420
Table B- Anal)sis of c45h 411d cash ¢qyivalent5:
Cash in hand
Notice deposits {less (han i monihs)
Total easb and cash tquivalent5
1 ?95,922
47,723
817._IOK
863 6U4

QFIAGE BAPTIST CHARITIES Lff•llTED
IBY GUARANTEEI
NOTES TO THE ACCOtNTS
FOR TFIE YEAR ENDED 31 DECEMBER 20?3
ACCOUNTINC. POLICIES
The principal accouiitillu policies adopted. judgemeiiis aiid key sources of es111￿aLI0n uiicertainlv iii the
prep¢￿all017 of Ihe finanLial siaLetneii15 are a5 follows..
{a) A<counting convention
Tli¢ finanLial statttiients l?ave been prepared (Inder tl)e Conipanies Act 2006 and in accordance with the
Chariiies Sthteineiit of R¢cotnmEn(led Praciice ICliariii¢s SORP IFRS 102)) and Tr inancial Repoiling
Standw'd l O
(FRS 102). The financial siaiements are drawii lip oli Ihe histurical cost L)asis of ac¢ountiiig,
as niodified by Ihe revaludtioii of iiivestsneiit properties. The financial stalcmeiit5 are prepared iii pounds
sterling rounded w the neare.%i pound.
Glace Bapiist Cliarities Limiicd i)ieets the definiiion of a piiblic benefil entity under FRS 102. 11 15 a
cliarilabl¢ cumpai)y liniited bw ouaraniee wilh registered oftice of 67 Bride Strcct, London. N7 8A7..
{b} Going coneern
Tlieie ale 110 material Iincenainiie% ahoiit the chariry's abilitv 10 coniiiiu¢ gp¢ralions for (l)e foreseeable
ILlture.
Icl Incom¢
Loan iiiie1.esi receivable. intcrest pas"'able on deposits. Rciilal iiieome and maiiageiiient cliarg¢s are
re¢¢)gTnised oji an arcruals bd51S.
Voluniary income iii¢luding legacies 15 klLLounied loi. oni¢ the charity has £nlitlein¢iil 10 Ilie income, it is
probable Ilie inconie will bL rcceived ai)d ilie amouni of incorne re¢¢ivable can be reliably nieasiii'ed.
Idi Exp¢nditure
All ¢¥penditure is included oil ali accruals basis. C haritable expendiiurc comprises all expendiiiirc direcily
relaieil lo tlie objecis of the cliariry. Tl)iS ITILlu(ies goveiTiai)¥e cosis whicli iepre5enl ihe cost of
compliancE Wlth coiisiirLiiional and siaruiory requirements.
1¢) Investments
Inve5tm¢nl and invesrment pi'opeiTies aT¢ Stared <it market value ai the balanc¢ sheet dale. Any gain or Ioss
011 re￿aluatIOn is tak-eii lo (he Staieiiient of Financial ActiNiiies. The directors review (he value of
investment properties ani)ually dnd obtain extei'nal valuatlOll5 every five ycai's. Any gain or loss 01)
rcvaluatioth is takeii to the Siatemei)i of Finaii¢ial A¢iiviii¢5.
It) Debturs
Loans to cliurclie5 aiid trusts and otiier dcbtors are iiicluded at rlie set(leineni aiiiount diie. Prepavmeiits are
valued at ihe atnount prepdjd.
{gl Cash at bank
Cash at bai)k incliides cash and shon temi highl) liqiiid invesimeiits with a sliort mattirity. of tliree months
or less from the dale ot opening of Ihe d¢p051t.

GRACE BAPTIST CHARrriES LIMITED
IEY GUARANTEEI
NOTES TO THE AccoifNTS
FOR THE YEAR ENDED 31 DECEMBER ?0?3
(continued)
(h) Creditor5 provisions
Creditois and provisions are iecooJiised whei'e tl)¢ chdrily has a preseiii ubligaiion arisillg fi.otn a past
¢vent ihai will probably tt5uII iii tlie transfei. of fiind5 to a third pairy and Ihe amouni due to settle Ihe
obligaiioii can be m¢a5ured or ¢sliiiiaLed ieliably. Crediiors aiid pi'ovisioiis are recogTrised ai their
(i) Fund *¢counting
The funds held by d)¢ chai'ity air either..
Resiricled fvnds- Iliese are tunds that can only be used for particular restricted purposes wiihin the
objects of ihe chai'iTh. Resirictioiis ar15¢ wlien SPeLilied by (he donor or when tuiid5 are raised lor
parti¢iilar piirposes.. or
UiiresiriLted fiinds- Ihese are fi]nds whicli can be u5¥d iii accordance widi the chai'iiable objecis at the
discittioii ot the direciors.
2 INCOME AND ENDOWMENTS
2023
Unre5tricttd Restricted
2023
Total
2022
Total
2,1 Income from charitable 8Ctivies
Manauemeiit cl)arge.s
Property rnana¥einent
Administi'ation charges
Inteiesi fi'om loans 10 chui'¢li¢s and Irusts
i2.735
16.566
12,640
18,6?5
80.566
32.735
16,)66
12.640
18,67)
34.643
20.403
l O.Yi9
77.456
?.2 Income frum investnients
Iiivesthiei)I properties
Invcsiinents listed on recognised slLKk ex¢l)anue
Bank and oil)er iiiiciesi
6.817
6.817
43,274
39.467
89.)58
2).864
8.925
38.001
35.189
4.:78
All iiivesimeni iii¢ome arose fL'Olll assets held in Ilie UK
3 EXPENDITURE
2023
2023
Unrtsirieted Restricted
2023
Tot¥1
2022
To￿1
3.1 Raising fiinds
Investnient nianagement
Iiivestmeiit propcrt). expenditure
5.874
1.754
i.874
1.7)4
7.628
3.976
?,766
3.2 Charitable &ctivitie5
Gi'ant payable to AGBCISE)
Inierest payable to chuiches and irusis
Office aiid staiiontry cost5
Developmeni consultancy ¢95ts
Trus*e managenienl charge
Legal aiid pi'olessional tees
GoveraJiLe LOSIS
Bank charges and interesi
60.677
75.927
154
1.065
60.677
75.927
li4
1,065
40
4.656
40
40
41
4.308
Si
142.257
4.308
85
14? ?97
4,1 li
40
IO),098

GRACE BAPTIST cHAR￿lEs LIMITED
(BY GUARANTEEI
1131
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER ?0?3
Iconrinuedl
211?3
Inve5trnenl
prupL'rtlL'5 investments
2023
Quoted
?023
4 INVF,STMEwrs
Market valllc at 151 Januaiy 2023
Addiiions
uiirealised110sses1 I gain5
Disposals
Markei value ai 315( D¢cwnb¢r ?0?"
179.771
1.24? 548
301,109
50.986
1,42?,319
301,109
46.60)
l)11,038)
1.458.99i
14.)¥ I I
1.283.6n5
Hisiorical cosi at 31 st December 20?3
li6)63
1,294,580
1.430.94)
Historical c051 at 31 si Derember ?02?
13636i
1 ?94,580
1.430,943
'rhe diieciors obraijied a professional v31uatioii of the investment pr()penie5 in DecciTLber ?01 l a11d l)ave
updaTrd this bj. ref¢renc¢ io Iha(ional house priLe indices.
i DEBTORS
Loan5 {paysble after rnore than one year)
Loans io chlli'ches (i)
Loans to trLLSts141
2¢123
2022
288,031
569,000
857031
492,000
703.017
Other debtors
Amvunts due chuiclies
Sundry debtors
11.508
20.610
i2.118
14.808
i5.114
Total debt￿r$
735,135
892.145
6 CURRENT ASSET JNVESTME.rff5
2023
2022
CouTriie8 and Cambridoe Bank 95 days, iioiice
61.090
159,609
1.fj9.669
7 CREDITORS.. a1710uiiis fallin&> du¢ within one )'ear
2022
AtnoLiiilb diie io Lliiirches
Amouni due to AGBCISEI
Amounts due to Irllstq
Other credirors
1,901.303
i37,416
2)9.977
3,713
2.504419
1.76i.047
18? 90?
319.50?
2?71083
8 CREDITORS.. amounts falling due after niore than one year
21P?3
2022
Amoiints due io chiiirh¢s
42i,665
4)8 676
This represents amounts due to churches where Ilie balance 15 Ov￿. £100,000 and tlie iioiice pei'iod
¢k¢eeds 36) days.

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEEI
NOTES TO TFIE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER ?073
{conlinuedl
9 RESTRICTED FUNDS
2023
2023
2023
Hayes Lane
Legacy
Downe
Leuacy
1 ?6,747
3.529
1201
130.2)6
Total
Balance at 1st January ?0?3
Iiicome
Expendirure
Balance at i15t December 20?3
153.643
4.278
1401
157.881
749
20
?7.615
FIRure5forpreviouy JbÉttrfvr L'omporis011
2022
2V22
2022
Hayes Lane
l£gacy
26,579
Duwiie
Legacy
l?j.178
1,589
120
1?6 747
Total
Balance at I si Jai)uary 202?
Iiicoime
Expendimre
Balanc¢ dt 31 st Decembei. 20*2
151.757
1,926
1401
1 $3.64j
1201
?6.896
Th¢ rcstrictcd funds aros¢ froin legacies receivcd to tic applied for tlie bcncfii of specific chui'ches at Ihe
disciyiion ¢)f tl)¢ diiEc1015 ofthe coinpany.
10 IYET ASSETS
U•ire51rlcl¢d Res¢rlcled
21125
Tolol
Curreiilyeur
Investiiienls
Net c￿￿¢1]t Iliabilitiesl J assets
Loiig t¢nll Iliabiliii¢s)
1.478.995
{522:500)
{4?3.66 j
51? 830
1,4i8,995
1364.619)
(4?3.665)
670.711
1 $7,881
157.881
31J22
IINTeslriclerf Reslrlcl¢d
Figure&lorprevious i'e4rlvr (￿li1p￿rISon
Iiiv¢s(meiitS
Ner ciirreiii Iliabiliiies) l asseis
,412. J19
1509,i081
{4f 8.6761
454 )3)
1.471.319
(355.665)
1458,6761
607 978
15i,643
153 643
Tlie injsiees. policy is io invest original tuiids to provide both capital fiLnd5 aiid incoiiie.
I I AUDIT, INDEPENDENT EXAMINATION AND OTHER FINANCIAL SERVICES FEES
The compaiiy's aiidiiors made the followin(y cliarge5'.
2023
2022
Fee for audit of accounts
F¢e foi. other 5¢rv1¢¢5
4.200
36
4.236
i.900
80
12 STAFF COSTS AND EMPLOYEE BENEFITS
Tlie charitv did not ¢iiiplov ali). staff diiriiiu tl)e veal..

GFiACE BAPTIST CHARITIES LIMITED
18Y GUARANTEEI
NOTES TO THE ACCOUNTS
FOR THE YkAR ENDED 31 DECEMBER ?023
Iconiinuedi
13 ASSETS HELD OP4 BEHALF OF THIRD PARTIES
The company acts as d trust coi'poraiiun being custodian trustee for various chuiehes and tI￿StS. Recoi'ds are
kept which identify the holdinos applicable io each ¢hurch aiid tru.%1 for iiivcEtmcnts held in the name of thc
conipany. Tlie5e assets and Iheir associaied transactions arc dcali witli in tlie aciollnrs ot Ilie chLirches alid
(rusis concerned.
It has been appoijited tr115tee. in some C￿¢5 b} the Chariry Coiiimissioner5. of variou5 chai'LtIES listed iii note 14
which hav¢ been ¢S￿blIshed io advanc¢ Ihe work of the AGBCISEI in 5P¢¢Lfic g¢ographi¢al areas. The a55¢1s
held in ihis c&pacity at 31 December 20?3 wer¢..
Iiivesiments linder maiiogeinenl
Investjneni properties
Properry used loi. cl)ai'iiable puiyoses
Oihei. 11ei assers
Loans
5.938.228
1.771.688
1.77?.446
6.6??
345,66)
9.834.647
The ¢onipaDv also acts as ciisiodian rrusie¢ of ce11ain assets for various ¢hur¢li¢s which have their own local
niaiiagiiig Iru5tees. The c0511valuatiOli LTrf a55ets lield iii this capacity lexcludinD
Ilie value of ali> cliiireh
pi'emises and manses t(M' whicli no reliable cost infoiination is available) at ilst DeceinbeT ?0? j ivas..
Inyestinenis undei. managcment
Iiivesimeiii propeny
Properties ii%cd tor charitable piirposes
Odier net &Ssers
Loan5
445.1 ? j
6?4.999
1.444.773
42i.840
1?97,?1 ?)
2.64) .)25
14 RELATED PARTY
'rii¢ followiiig direciois are also irysiees ot. the A(iBCISEI (the 'chariry i and. as sllcli, have an iniei'est in
rransaciions cai'ried out oli behiilf of Iiusis aiid cliurches adiiiiiiisiered by tlie coinpany and lh¢ chai'iry.. A A
Oiiley Iresigiied Sepi 20?3)' A Ci'eedy. P Fiigglc. A Gardner IFiiianc¢ Officer). B Jolle.s (Appointed Nov
20? J I, A Kiiig. D J Monimer, Miss M O. Mai?. P Smiih, J Souihionibe ITir&surei') and P M Woodlej. Tlie
trdiisaciions ii?volve gi'aiiis aild Iiianagemeni cliaiges paid by rhe tyu5ts and chiirch¢s pdminist¢r¢d by th¢
Company.
Trusi tunds relaiing 10 tlie following iwsis were adminisrered by ilic ￿￿1% of iheir Trusr D¢eds.' Avonmoie
Avenue- Britshcoii Tiusi; Biicklaiid Coininon Baptist Cl)apel Trust: Dudley Baptist ChurLh Trust.. -Eben¢z¢r"
Bapt181 Chapel. Ilford Tnist.. Eva Rance Cliai"iry: Feli11am 'Zoai' Cliapel Tnisi.: Feltl)am 'AvoiiwicK' Trust..
Gadde5den Row Chapel frust. Grace Charities Trust. Littl¢ Wild StrEet Tru51 Chapel (Stricl Bapiistl Fuiid:
Maj'ford Chapel Tnisl,. Pottcii End Cliapel Fund.. Providence Cliapel, Kin¥s(vn Trns(,. Richiiiond Hoiiies Tnisr:
'Salem' Baptist Chapel, Richmoiid Cli?L I'ity: Wilstone Chapel.
Durinu ihe yeur. an int¢r¢5t bedring loan fa. cility of up to £200.000 or￿lLed tv Hope coiniiii1ni￿ Cl)urch of
which the tn151ec, AA Ottley is also a tru51ee. £91,500 of rhe faciliry had been drawn down at >ear end. Iii
additioii, an in(¢r¢st beai'in¥ loan ol- £?_S,00 I advaiiced to N¢wtowii Baptist Church. Chesham ol. NNhich the
mislee D Moniiiier is also a trustee. Thc balance at year eiid ￿'aS £9.£17.
14 TRUSTEES, REMUNERATION AND EXPF.NSES
No reiiiLin¢ration or reirnbiir5enienl of Expen5e5 directl). or iiidirectly out of tlie ￿ndS oftlie charity was paid or
Pdyable for th¢ >C&ii' 10 any tru51ee (Trr Iu per501i 01. per50n5 k]iowii (o be coniiecied with any oftl)em.