GRACE BAPTIST
CHARITIES LIMITED
FINANCIAL STATEMENTS
FOR THF.
YEAR ENDLD JI I)Tr"CEMBF.R 2024
Company nuinber: 000960S.S
Charity number: 1172489
Conlents
Pgge
Report of the Direcrors
Direclors, Responsibilities
Repoi1 of the Independent Auditor
Staicnieni of Financial Activities
Balaiice Slieet
Siaicmeni of Cash Flows
Noies lo tlie Accounts

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEEI
REPORT OF THE DIRECTORS FOR THE
YEAR ENDLD J l DI-'CEMBER 2094
ObjecliN'es and Aetivities
Tlie coinpan J acts as a corporate trustee of cliariiable trLlSts, and acls as custodian trustee for a nLimber of churches.
Tlie coiiipany also receives loans trom cl)urcl)es and charitable trusis, and assists some churches and irusls through
the provision ot. loans and other advances.
The directoi's conlirin Ilial tliey have l)ad due regard lo tlie ouidaiice issiied by ilie Charity Coiiiinission on public
benefii. In particular. Ihe I'ole ￿ Iruste¢s for chui'cl)es aiid the provision of grants and loans from ii'ust lunds
loww-ds the stipend costs ot" pastors and the Maintenance of church buildiiigs contribuie to the provision of
cliui'clies and worsliip services.
Achic4vemenls and PerfDrmgn¢e
The c()nipai)y continued lo support chLirches w'ith iiiajoi. bLiilding redevelopnieni schen)es tlirough loaii fuiiding
and advice.
The coiiipany maiiages a nuniber ol. trust liiiids and graiits of £79,-£67 were made lo thiiteeii cliiii'cl)es from them
for suppoil of ministers. Ii) addilion, gi'aiils 01 £60,000 ￿'aS made lo Ilie AGBCS r Traiiiiiig Flind to fund Irainiiig
rllture niiiiisiei's aiid £4J,9.5 I to AIJBCSE I loiiie Missioii to liiiid Ii)cal iiiission support in ilie cliurclies. H'ere niade
out ol. Triisi Funds. The Luiiipany, OLII ()f lis iiiconie, has dislribuied Inieresi of £1 ?3,998 10 cliLircl)L% &ind trLislS fui.
chariiy loan balances held, logetlier ivith a gi'1< ni 01. £68 141 lo AGBCSI. in I'ecogiiitioi) 01-5ervices pi'ovided.
FiDSlll¢ldl Rei'iew
The Eiliical InvLsinieiii Pol ic), lor the portfolio of ii)vestnieiits nianagTed by li)vesiec Wealth & liivestmenl l.iiiiited
was revieii'ed li) ?021. Tlie i)erforii)anLL' was als() IIIL)nilui'ed Ilii'oiigh the yeai. ai)d I'epoi'ted 10 tlie 13oai'd ol-
directors. I'liis portfolio represen(s moiiies lield on behal I. ol. the Association of Gl'ace Baptist ChurLhes {Souih
East) and irusts for which the conipany is trustee.
During tlie year, slioil leriii loans li'om cliui'Llies and Ii'usts (iiicluded in crediiors) InCre￿¢d by £548,973. This is
maiiilv due io addilional iiivestsn¢ni by the chui'che5 10 tund fuiure projeels, bui lon4ei' ieriii loans decreased by
£119.709 iiiaii)ly because a churcli cliose io invest Ihc money for longei. lerin growtli. Loans 10 chui'clies and trLlSts
{included in debiors) dccreased b). £196,1 J4. TIIIS is ITiainl}' due lo tKvo trusts liquidatingy a poi'lioii of Ilieii. stock
portfolio and repayiiig their loaiis. l-lie net el-fect is a iiicrease in cash and ¢urrent asset iiivestmeni bc21dnces of
£545,4iJ.
ResL'ri c5 poIicJ'
Tlie coinpaiiv regiilarly geneiates a surplus troiii account aiid property niaiiag?eiiienl cliai'ges aiid the direetoi's liave
a polic>. of disli'ibuling any siirplus fui)ds eacli yeai. by ii'ay ol" a grai)I to AGBC{SE). The Coimi)an>' Seci'etary,
FinLiii¢e Officer Jnd other administi'atiie slalT are einplo>'ed b), the Association. I'he direclOI'S have agreed il is
appi'opriate lo build a sn)all reserve lo covei. ftitiire repairs and niaintenance tor tlie property om'ned b), tl)e
company. pi'ioi. 10 thai il iwas not felt necessar}. to retain I'eserves in the compan},, otliei- tliaii tl)e I'evaluaiion
rese￿e.
In ilie opinioi) of the dii'eclors, tl)e Slate of the compaiiy's affairs is salisfaciory.

GRACE BAPTIST CHARITIES LIMITED
IBY GUARANTEEI
121
REPORT OF THE DIRECTORS FOR THE
YEAR ENDED JI DECEMBER ?0?4
(contiiiued)
Fundi aisiiig
In recent years, the company l)as limited its tuiid-raising activities to discussion at meetÉngs ot- trustees and
Imenibers around bLidoets and coiiiparison of actual oultui'n vei'sus budoet. Tlie conipany does iiol employ oiitside
oi. coiiiniercial fund-raisers, and does not make appeals for funds beyond ils nienibers. Tlie company has not
subsci'ibed to aiiy fuiid-l'aising regulator.
Futui'e Plans
The company continiied to support the remaining livo curi'enl redevelopineni schemes ihi'ougli ?0?4 and into ?0? j.
It lias been involved in Ilie pre-planiiing of a t"urthei' Il)I'ee polei)tial de¥'elopiiients. It coiilinues lo support other
chui'ches tlirough the pi'ovision ot. ti'usl graiits. The compan), is conlii)uii)g its rationalisation pi-ogramme 10 seek io
reduce (he iiumber of Inaiiaged Irusis by merging ti'usts whilst following the Charity Coinrnision regiilatioiis.
Structure, Cwovernan¢¢ and Management
The company was incorpoi'ated undei. its Memoi'aiiduim arid Ai'ticles dared 13 Decembei. 1907. In the eveiil ()f the
coinpany being M'OLind up. tlie members are each reqiiired to contribule an ainouni not exceeding ?5 pence. The
directors of the company are the officers and nienibers of tlie F..xecutive Conimiltee of Ilie Associalion of Grace
Bapiisi Churches (South East), provided that not more than onL-hall' of such niembei's are pastors ot as.sociated
chui'ches. No maxiinum niimber of dii'ectors 1.% speLified in the Memorandum and Articles.
Ti'iJsiee5 ' trai171PIX
Trustee training coursLs ￿'e niade avai11¢ ble to the direciors each yeai. and Cl)drity Coinmission iipdaies are repi)11ed
at Association Coi)Iiniiiee Meetings to keep directors iiiformed of curreni issues aiid chaiiges iii legislation etc.
J17vesliiienl poliLI'
The dii'ectoi-s exei'cise the investmeni poivers ol. the individual churcl)es and trusts iii accordance w'illi the poivers
and policies of Ihe chLirches and trusts. The coinpany's own investinents al'e iiiade in accoi'dance with the
iiives(nicnl powers contained wiihiii ilie Trusie¢ Act 2000.
Risk ManagL'npenl
Tlie direclors l)ave assessed the pi'incipal I'isks io ivhicli the coiiipaiiy is exposed, iii paitl¢Lilar iliose related to the
operations and finance of ihe ci)rripaiiy and ale salislied tlial pi'ocedures are in place io mitigate its exposiire to
Ilieni. A I'isk register is iii place and is I'eview¢d on a regulai. basis.
Risks identified include non-compliance with chai'ity law; liquidity (niitigaied by loaii ierms in place with chui'ches
etc., spread ot iiivestmeiits; review of propert), liolding) and loss of data and systems {iiiitiLyaied by conti'acting Nvith
exteimal suppl ier of l.T. support and oft site backups).
Gi'ap71 niakiiJgpolicJ'
The company does noi make granis fi'om coiiipany funds, other tlian payments to ilie beneficiary chui'ches under
the legacy funds. These grants are issued in accordance Kyith ihe terms of ilie le&Jacies. Whei'e the Board mak'es
grants from Ilie tl'USts for w'hich il is the trusiee, the grai)Is are made in accordance witli the terms of tl)e individual
trusts.

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEEI
131
REPORT OF THE DIRF.CTORS FOR THE
YEAR FNf)F.D J l DF.CEMBER ?0?4
(coniiiiued)
Reference and Adm inistratii'e Details
Tl)e direciors who served ihe company tor ilie ivhole or any part of tlie year ivere as t-ollows..
Miss M O, Mara,
C Clarksoii {appointed Ocl 20?4).
P Sniith.
J Souihcoinbe (Treasurer) (resigiied Oct ?014),
P M Woodley (resigned Oci 2024).
Chairman.. A Creedy Ichainnan),
P Fuggle,
A Gardnei. (Finance Otficer),
B Jones,
AKing,
D J Moi'timer (Treasurer frorri Oct ?0241,
Company Secretary.,
Finance Ot-ficer..
L Wiiimill
A M Gardner
The Company Secretary, Ivlio is einployed by ACJBCISE), has delegjaled authorit), 10 auil)oi'ise I'outine and planiied
Inainienance for ii'LlSt. Associaiioii and chui'¢li pi'openie5 W'ithin an aniiLial bLid&Jet. The budgei is approved by the
Board in November for the following yeai..
Registered oftice..
6? Bride Streel, London, N7 8AZ
l-lie principal advisei's ot the coinpanv are as follows..
Auditors..
Xeinadin Audit Limited, -5 Robin Hood l..anL, Suttoii. Sui're),
SMI 2SW
Prii)cipal E30nkers
CAf. Bai)k Limiied, ?5 Kingjshill Aveiiue, Kingsliill, Wcst
Mallink. Keni MF19 4JQ
SutTolk Building? Society, PO Box 547, Ipswich, Siit'folk,
IPl 9W/
Principal Investnienl Managei's..
Iiivestec Wealth and Iiivestinciil Ltd, 2 Gi'esliaiii Street,
London EC2 7QP
Priiicipal Soliciiors
Cartel.. Lemoii Cainei'ons LLP. I O Aldersgate Sti'eet.
Londc)n, EC I A 4HJ
Edwai'd Coiinor SaliL'ilOI'S. I O The Point, Mai'ket
Hai'boi'ouc
-h, LE16 7QU
This rep011 has beeli pi'epai'ed iii accordance with the special provisions of Pan 15 of tlie Companies Act ?006
relating to sniall cumpanies.
BY ORDER OF THE BOARD
D Moitinier
Director
)Oth June ?02i

GRACE BAPTIST CHARITIES LIMITED
18Y GUARANTEEI
141
STA TEMENT OF DIRECTORS, RESPONSIBILITIES
Tlie direcioi's (beino trustees of tlie charitable company) are responsible for prepariiig the Directors" Report and ihe
tinancial slatemenis in aecordaiice ivith applicable law and United Kiii¢)dom Accounting Standards (United
Kiiigdom Genei'ally Accepied Accounting Practice).
Coiiipany law I'equires Ilie dii-ecioi's to prepai'e financial siateineiifs foi. each fiiiancial yeai. Ivhich give a Irue ai)d
fair viem. of the state of affairs of the coinpany and of il)e inconiing I'esoiirces. including the incoine and
expenditui'e. ot. the con)pany t.or tl)at period. In preparing those tiiiancial statenients, Ihe directors al'e required io..
selecl suitable accounting policies aiid tlien apply Il)em consistently.
observe the iiieihods and principles in the Chai'ilies SORP
make judgeinents and estiniales that are reasoiiable and pi'iident,.
stale w,heiher applicable UK Accounting Standards have been followed, subjeci to any material
departures,. and
prepai'e ilie tinancial slaierrieiiti on the going coiicern basis, unless it is inappropi'iate to pi'esuine that the
charit), M'ill continue in 01)eration.
The dii'ectoi's are re.spoiiqible for keeping pi'oper accounting I'ecords which di%close ivith re&sonable accuracs, al an),
tiine Iht financial posiiion ol. Ihe conipany and io enable it lo ensure that ihe finanLial sialLinLnts cuinpl). witli ihe
Coiiipanies Act ?006. Tl)ey <ll'e al.%0 I'c5p(Insible tor safegu<irdingJ tlie assets ol. ilie con)paiiy and lience lor takinly
re&soiiable steps foi. the preveniioi) aiid detection ol" ti'aud aiid oihei. ii'i'egularities.
The dii'eclors who held oifice ai Ihe dale of 1¢ ppl'oval of Iliis Annual Report, as sel out above. each confirm that..
so far as ihey al'e aware, thei'e is no relevant audit information {infoi'iMalion requii'ed by the chai'ity's audiloi. in
coiineclion iyitli preparing il)eii' report) of wliicli Ihe cliarity's auditors are Linaware. and
the directors have taken all the slep5 they ouglii to have lakeii iii order to niake themselves aivare of any
relevant audit information arid lo establish that tlie charity's aiiditors are aware ot- thai intoi'mation.
BY ORDER OF THE BOARD
6? Bride Sii'eet
London
N7 8AZ
D mo￿1171¢r, Direcior
Grace Bapttst Charities Limited
Joih June 202.5

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEEI
{51
REPORT OF T14E INDEPENDENT AUDITOR
TO THE MEMBERS OF
GRACE BAP'fisT CHARITIES LIMITED
(BY GUARANTEE)
Opinion
We have audited the financial ststenients of Gi'ace Baptist Charities Ltd {Ilie 'charity') for the year ended i I
Deceniber ?0?4 wliich cornprise tlie Siatement of Fiiian¢ial Activities. die Balance Sheet, the Statement ot" Casti
Flows and Ihe notes lo the financial stsleinents, including a sumniary of significanl accounting policies. The
financial reporting fraMe￿,Or￿ that has been applied in Ilieir preparation is applicable law and United Kingdoin
Accounting Standards, iiiclLiding Fin<incial Repoi'ling Standard l O? Tlie Finaiicial Reportiiio
Staiidard applicable
in the UK aiid Republic ot. Ireland (Uniied Kinodon) Generally Accepted Accounting Pi'actice).
In our opiiiioii ihe financial slateineiils..
givL' a true and fair vieiv of the %tate of the charit8blL company's atTairs as ai 31 December 20?4 and of- its
incoiniiig resoui'ces and ¢ipplicalion of resourcLS lor tlie )'¢ar ihen ended:
have beeii pi'opei'ly pi'epared iii accordai)ce witli Uiiited K ingdoin Generally Accepted Accouniiii(J
Practice. and
have been prepared in accordance M'ith the requirements of Ihe Companies Aci ?006.
Basi% for opinion
We coiiducled our audit iii aLcoi'dance witli Iniei'national Standards on Auditing (U K) { ISAS (U l< )) aiid applicable
law. Oui. responsibi l ilies Liiider those standdrds arL lurther described in tlie Auditor's responsibi l ities lor the audit of
Ilie finaiicial slalemenls seclioii L)f L)ur I'epoi't. We al'e independeiil ol- the Lhai'ital)le coinpanj. iii accordanc<' wilh the
eihical I'eqiiii'enient5 Iliat al'e relevaT)I lo our audit of tlie Iin211cial staleimenis in the IJK. incliiding Ilie FRC'S
Eil)iLal Siaiidaj'd, and ive have fLilfil led our other eiliical I'espoiisibilities in accordanee ￿,1[￿7 iliese requii'ements. We
believe that tlie audil evideiice we have obthined is sut'ficient aiid appropriate 10 pi'ovide a basis lor oiii. opiiiion.
Conclusions relalin(v to going concern
In auditing ihe financial siatements, we have concluded ihat tlie directors. use of the going concem basis of
accouiiling iii Ilie preparation ot. the financial slaleiiients is appropi-iate.
Based on tlie work ¥ve liave perlorined, we have iiot identified any maierial uncertainlie.5 relciling lo events oi.
condiii<)Iis thai: iTidividually or colleLtivel)'. may casi significan( dc)ubi on the Chariiv's abilily to coiitinue as a
80in8 concern loi. a pei'iod ol. at leasl l ? nionili% fi'om wl)en tlie tiiiai)cial staiemei)Is are authorised lor issue.
Oui. rL'spoiisibilitie% ill)d the responsibilities ol. the direciors ivitli respect to (Joiii&v coiicei-n are described in the
relevant seclioiis ol. Il)is I'epoil.
Other information
The oihei. iiifornialion coniprises the iiitormation included iii ihe annual repoi1, ii)cludiiig tl)e dii'eclors report,
other tl)an tlie fiiiancial staleIiieiits and oui. auditoi s report Iliereoii. The directoi's al'e resi)oiisible r()r the other
intorinatioii contained ¥viiliin the annual I'eporl. Our opinion oli tlie financ ial 51ateiiients does not cover ilie otl)Lr
infoi'malion and: excepl lo the extent other￿'15e explicitly slated in oui. report, ￿'C do not e.xpres5 aiiy form of
assiii'ance concliision thereon.
Oui. respoiisibilits is to read the other inforn)alion and. in doing so: consider ￿,hether the other information is
nialei'iallv inconsislenl with tlie financial stateiiienls or our kil0￿,[edge obtained iii tlie course of the audit, oi.
otlierwise appe￿5 to be Tnaieriall), misstated. If li'e ideiiiify sucli malerial inconsistencies or appai'eni maierial
misslatenieiils, li'e are required lo delerniine 14,hetlier tliis gives rise to a n13terial niisstatenient in tlie financial
stateiiienls Iheiiiseli'e5. 11., based on the 14'ork' we hak'e pei'formed: we concliide that tliere is a maiei'ial Inisstatemenl
of tliis othei. intormation, H'e2 41'e requii'ed 10 report thai fact.
'e have noihino lo report in ihis regai'd.

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEEI
161
REPORT OF THE tNDEPFNDENT AUDITOR
TO THE MEMBERS OF
GRACE BAPTIST CHARITIES LIMITED
(BY GUAR.4NTEE)
(coiitiiiued)
Opinions on oiher m4tters pi-eseribed b!, the Compxnies Act 2006
In our opinioi), based on ihe iN'oi'k' undenaken in Ilie course of our audit:
tlie intonnation iyiven in tlie Trustees, Repoil, ￿.1]IcI1 includes tlie directors. report prepai'ed tor tlie
purposes of compan! law, foi. the tinancial year for ii,liicli the financial statements are pi'epared is
cunsisieni willi Ilie financial siaiements- aiid
the dii'ectors, repoi't included within d)e Trustees, Report l)as beeii pi'epared in accordance witl) applicable
legal requiremenii.
Matters on whieh ive are requil'ed to report by exception
In Ilie liglii of ilie knoivledgye and understanding ot. the charity. and lis enviroi)meiil obtained in the coiii'se ot the
audit, Ive have noi identified material misstatements in the directors I'eport included ￿'1th the directors, report.
We have noiliiiigy to report in respeci of the lollowing iiiatiers in relaiion 10 wl)icli ilie Coiiipanies Aci 7006
requires lis lo reporl to you il-, in our opinioii:
adequate accouTiliiig records have i)oi been kept, oi. returns adequate for our audii have noi been received
fi'om branches not visited by LIS: or
the linanLi<il slaleinenls are noi in agyi'eeimenl w'ith Ilie accoiiniing recoi'ds and retui'ns. or
cei'iaiii disclosures ()f ii'usle¢s' I'Lniuiieraiioii speLilied by law al'e not iiladc. or
'e have not received all the int-oriiiqi lioii and explanations li'e requii'e for our audit. oi.
the directoi's were iiot entitled io prepare ihe finaiicial slaienients in accoi'dance ivith tlie sinall complinies
I'egTime aiid tak'e advanthge of Ilie siiiall conipanies exeinplioiis in preparing) the dii'ectors, repoii and fi'om
the reqiiii'emeiit to pi'epai'e a sli'alegic repoI1.
Responsibilities of directors
As eiplained Inorc fully in the direclors responsibilities statemeni. Ihe triistees, (Ivlio are also ilie directors of tlie
cl)arilal)le conipany loi. the pui'poses of coi)Ipany law) arL I'esponsible lor Lhe prepai'dlion ot. the l iiiaTicial staleiiients
and foi. being satisfied that tl)ey give a ti'ue an<1 laii. vie%v. and for such iiitei'ii.I1 conti'ol as the tru%iees deiei'mine is
iiecestiary to enable tlie pi'eparaiion of fiiianL'ial statLinents ihdi are free from material misstiilemeiii. wheihLr due 10
fi'aud or errol..
In prepai'ingi the finaiicial slalements. the directors are responsible for assessii)g the chai'ity's abiliiy to continue as a
goinrt concern, disclosing, as applicable, matters related to g70ing concei'n and usinby ihe going concern basis of
accounting uiiless the direciors eidiei. intend to liquidate the compaTiy or 10 cease operations, oi. liave no realistic
alieniative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objeLlives al'e lo obtain reasoiiable assiirance about whether the Iiiian¢i81 siateiiieiits as a thihole are free Irom
matei'i2& I Inisslatemeni. Ivheiher due to fi'aud or ei'ror. and 10 issue an aLiditor's I'ep011 that includes oui. opinion.
Reasonable assurance is a higli level of assuraiice, but is not a ouarantee that an audil coiiducied in accoi'dance ￿ itli
ISAS (UK) will alivays detect a niatei'ial iiiisslaienieI11 ¥i.'lien it exists. Miss(aienienls ean ai'ise fi'oni fraud oi. ei'i'or
and are coiisidered iiialerial it., individually i)I' iii ilie aggregFate, they could reasoiiabl), be expected io influence tlie
econoinic decisions ot" users (aken on the basis of these financial staiemeT]IS.
Tlie exient lo i￿7)1ch oui. procedures are capable of deteciing iii'egularilies, includiiig fraud is detailed below..

GRACE BAPTIST CHARITIES LIMITED
18Y GUARANTEEI
171
REPORT OF THF. INDEPFNt)ENT AUDITOR
TO T14E IMEMBERS OF
GRACE BAPTIST CHARITIF.S LIMITED
(BY GUARANTEE)
Based on oiir undei'sianding of Il)e company, we identified that the principal risk's of non-coinpliaiice w'itli law's and
regulations related io cliai'ity legislation and M'e considered the extent to which non-compliance might have a
matei'ial effect oli the financial statemeii(s. We also considered tliose laws and regulaiions (hai have a dii'e¢i iinpact
on the preparaiioll of the finaT)cial ststernenls sucl) as the Conipanies Aci ?006 and Chariiies Act ?0 I i.
We assessed ilie suseeptibiliry of ihe ¢oiiip8n> s Iinancial siatemenls lo maierial niisslalemenl. ir)cliiding obtaiiiing
an understanding of ho¥v Iraiid miglii occur, by making enquiries of management, considering Ihe inleriial controls
in place and disciission anioiigst Ilie ei)ga¢?enient team.
We deierinined Ilial ihe principal I'isks were related to nianagenient bias in 1¢ccounling estimaies iiicluding
valuation of inveslnieni propei1y and maiiagemeni override of coiilrols and ihe niis-51ateiiieni of property
Iransaclions oi. loaii balances.
In response lo the risks ideiititied we desigTned procediires M,hicl) included, bill ivei'e not limited ta cliallenging
Slg7nificant accoLinting estimales, evaluating IliL COlllPiin} s iniernal controls, iind vei'ityiiig propL'ity Ii'aiisaciions
and loaii balaiices w'ith Il)ird pai'lics.
Tliei'e are inhei'eiii limiiaiions in the audit procedures desci'ibed above. The Inore renioved that law5 and
regjulaiioiis aTe fi'oiii financial Iransactions. tlie less likel), il is il)at ive ii'ould become aivare of i)on-conipliaiice.
Matei'i<ql IiiiSSi<?iemei)Is thai arise due to ti'alid cali be harder l() delect tliaiJ Iliose that ai'ise Iroiii error as they Inay
involve delibei'ate coiicealtneiil or collLlSlVn.
A further descripiioii ot- oui. I'espoiisibilities foi. the audit of the fii)ancial statei)ients is located on the FinaiiLial
Reporting Council's website ai: http://1v￿'W.frc.org.uK.laud1i0rsresponsibIIi1Ies. This desci'iplion lornis pail of our
audiior's repoi'l.
Use of our i'eport
I'l)is repoi'l is nii?de solely to the cliaritable compaiiy's iiiembci's. as a body. iti accordance i¥iil) Cliapter J of Pail 16
of (he Lonip(Inies Act ?006 and reglilations Inade linder thai Act. Our audit work has becn undeiiakei) so Iliat we
might siale io Ilie cliarilable coii)panv's menibei's those mailers we al'e I'eqiiired lo stale lo tlieiii in an auditors,
report aiid for no oiliei. purpose. To Ilie fullest exienl pei'iiiilled by law, Ive do not accept oi. assui)ie responsibility 10
anyone other Il)an the chai'iiable company and its meinbei's as a body, for oui. ic udit ￿'Ork, foi. this report, or foi. the
opini01is we l)ave loriiied.
R l Haffenden MA (Cantab) FCA (Senior Statutor), A￿dItor)
for and on beliaif of Xeinadin Audit Lim ited,
Siatulory A uditor
Chartered Accountants
5 Robin Hood Lane.
Sutton,
SuiTey
SMI 2SW
Dated.. 16 &CP￿￿£E£ 2c,IS

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEEI
181
STA1"EMENI' OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND FXPENDITURE ACCOI,;NT)
FOR T14E YEAR LNDED 31 DECEIMBER ?094
21J24
Total
Funds
2023 *
U nrestricted Restricted
Fund
Fund
Funds
In¢ome and endownients from:
Cl)ai'ilable aciiviiies
Invesimenls
Nole
90,?69
l )O,i44
220,613
90,?69
135,9)9
226,228
80,566
89.558
170,124
5.615
Expendiiure on:
Raising funds
L h<iril&qble aclii'ities
Total expendilure
8.60)
900.180
208,785
8,605
??o,??o
228,825
7,6?8
142?97
149,92.
Iyel {deficit) l income before net gains on inwestments
11,828
(14,425)
(2,597}
20,199
Nlet gaii)s on invesiments
Realised (losse%) on iiivesiinents
Unrealised gains on inveslii)enls
(1? 7J7)
79,897
67,160
(12.7i7)
79,897
67.160
(4.071)
46.605
Nel ineome and Net movement in Funds
78,988
(14.424)
62,733
Reconciliation of funds:
Funds bi'ougl)I foi'iyard
Funds carried forward
5 5 ?,830
591818
157.881
143456
670,75 1
735 274
607,978
670711
No OPLralii)Iis iwei'e acqiiii'ed oi. discoiitinued dLiringT tlie year.
"Prior Jiear unalJ'si.i.'
Unr£'.Ilricled Re.IlriL'led
Fiiiid
2023
Ti)ialfiiiicl.f
Income and endownients from:
Chai'ilable aciiviiies
Invesinienls
Total incnnie and endom'ments
80.566
80,)66
89,558
170,124
4,?78
4.278
16S,846
Expenditure on:
Raising fiinds
Chai'itable activ ities
Totul expenditu re
7,6?8
142?57
149,885
7.698
142,#97
149,925
40
40
Operating surplus
15,961
4,238
20,199
Nel gains on ini'eslmenis
Realised (losses) l Liains on inveslinenls
Unrealised gaii)s oil ini'esiniei)Is
(4,071)
46.005
(4,071)
46,605
Nel income and Net nioi'ement in Funds
58,495
4,238
62,733
Reconciliation of fu nds:
Funds bi'ou2hi foi'iv2c rd
Funds carried forward
454.)3i
512 8JO
153,643
157 881
607.978
670711

GRACE BAPTIST CHARITIES LIMITED
IBY GUARANTEEI
191
BALANCE SHEET
AT 3 1ST DECEMBER !0?4
2024
2023
Nc)le
Fixed assets
lnvesi1￿e1itS
1.5?0,114
1,458,99i
Current assets
Debtors (includiiig £498.491120• J- £8i7,031) due
in more than one year)
Investmei)Ib
C&8h <11 Bank
Tolal L'iip'reppl assels
539,521
73i.13i
63,644
1,886.474
?.489,639
61.0?0
1,34J.645
? 1)9.800
Ci-editors.. AIDounts falling due iviihin one ye￿.
? 970,5?3
? 504.419)
Nel current (lillbilities)
480 884)
364619
Tolal assets less cu rreni liAbililies
1,039,?30
1.094,376
Creditor&: Amounts falling due after one year
(303,9i6)
(42i,6651
I'otAI net a$setS
735 ?74
670 711
The funds of the charitv:
Uni'eslricted liinds
Fail. Value Reservc {unrestl'iCled)
Toial Uni'esti'icled F und
477.708
114.110
591,818
478,617
51?.8JO
Restricted incoiiie funds
Total tuiids
10
14J,4i6
735 •74
157,881
670.711
These financial statements have been pi'epared in accordance witli Ilie special pi'ovisioiis relatiiig lo sinall
cornpanies wiiliin Part 15 of the Con)paiiies Act ?006 aiid ivere approved by the Board on 30tli Jui)e •0?5
and signed on tl)eir behalf by-
Company regsislration nui)Iber'. 00096055
D Mortimei., Director
Grace Bapiisi Cl)ariiies Liniiied

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEE)
1101
STATEMENT OF CASTr4 FLOWS
FOR THE YEAR ENDED 31 DECEMBER 20?4
2024
2023
Tolul Fuhd.s Tolul Fund.,
Stalement of Cash flows:
T¥ble
C95h flows from operating activities:
Net ca.sh provided by (used in) operatino activities
40?.751
29?,4?6
Cash nows from inve.sting actii'ities:
Div idends, interesE and reni froin iiivesiineiils
Proceeds li'om sale of investineJ)Is
Purchase of invesliiients
Net cash provided by (used in) ii)vesliiig activities
lJ6.661
194.308
1190,891)
140.078
31)6,907
707.460
187.C)15
Change in cash and ca.sh eq u ii'alent.4 in Ihe reporting period
(.￿h and casli equivalei)15 1( I IhL begiiniiiiis) ol. Ilie I'¢poi1inb period
Cash anij casli equii'alenls ai ilie end of tlie reporting period
542,829
I,i4i.645
1886 474
480,041
8C).?,C)04
1343 645
l able A - R¢'¢oncilialion of net income / (expenditure) to net cash flow
rroin operdlin% aclii'ilies:
2024
Nel inconie / (expendiiure) for the ieportiiig period las per
Ilie ststeinenl of financial activities)
Gaiiis 01) ]n￿eStn]entS
Dii'ideiids, interesl and rent froiii inve5tn)ents
{ Iiicrease) in debioi's
Ii)ci'ease I (decrease) in ci'ediloi's
Net C115h proi'ided by (used in) operating aetivilies
64.563
{67.1601
{13i,959)
194,956
346.i51
402751
(4?.514)
{89.5581
163.476
198.309
292 4?6
Table B - An21)'sis of cash and easli equii'alents:
C￿h iii hand
Notice deposiis (less Ihan 3 nioiiil)s)
Toldl cash and cash equivalents
1,8)7.038
49.4.36
1 886 474
1 ,295,9?2
1343 645

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEE)
NOI"ES TO T14E ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER ?0?4
ACCOUNTING POLICIES
The pi'incipal accoiiniing policies adopted, jlidgenieiits and kev sources ot. estiniatioll Linceitaintv in the
preparalioii of the finaiicial stateiiients are as lolloivs..
(a) Accoun ling coni'ention
The financial slatenieiits have been prepared undei. Ilie Coiiipaiiies Act *006 and in accoi'dai)ce wilh rhe
Cliariiies Sialenieiit ot- Recommended Praciice (Charities SORP (FRS I O?)) and Finaiicial Reporiing
Siiindard 102 (FRS I O?). Tlie fiiiiiiicial staieillents are d1'a￿'n up oli Ilie lii%torical cost L)asis of accoiiniiiib.
ils Inodi fied by tlie revaluaiion ol. in¥'esthieni propei'lies. The fiiiai)cial S￿1￿11]ents are prL'pai'Ld in pounds
sterling r()unded 10 Ilie nearesi pouiid.
Gl'ace Bapiisl Cliai'ities Liniiled iiieeis Ilie defiiiilioii of a PLiblic benetit eniity linder FRS I O? li is a
charitable conipany liinited by gyuaraniee with regisiei'ed otfice of 62 Bride Street, London, N 7 8AZ.
Ib) Going concern
Tl)ere are no nidlerial Iiiicerlainties aboul Ilie cliarity's abil ilj. 10 Loiilinue ils operaii()ns for Ilie foi'e.seeable
fuiiire.
Ic) Income
l.oan interest receivable. interest payable on deposits, Rei)lal iiiconie and managyeiiieiil cl)ai'ges are
I'ecobyni%ed uii an acLI'Ll¢tls basis.
Voluntary ii)come includiiig leg?acies is accounted foi. once the cliarily has eiiliilen)ent to tlie iiicome. il is
pi'obable the income will be I'eceiN'ed aiid Ihe ciinounl of income receivable cali be reliably measured.
(d) Eipendilure
All eip¢ndilure is included on an accriials basis. Cliariiable exi)eiiditure Lomprises all expeiidiiure directly
I'elated io the objects of the cliai'ily. This iiicliides goveimance costs ivliicli I'cpi'eseiii tlie cost ol,
compliance ivitli conslitulioiial and slatiitory requii'einenls.
(e) Investn)enis
InvesiniLnt and invesinienl propeilies are sialed al niarkel vdlue al tlie balaiice sl)eet dale. Aiis, gain or loss
on I'eva5ualion is lakeii to the Statement of Financial Activities. Tlie dii'ectoi's i-eviev, tlie value of
investineiil properties aiiniiallN' and obtain exiernal valiialions ei'ery five years. Aiiy gain oi. loss on
revaluation is iakeii lo Ilie Stalenienl ol" Financial Activities.
(D Debtors
Loans to cliurches and Ii'usi% and othei. debtors are included at Ilie settleinenl ainount due. Prepayiiieiits al'e
valiied ai the amouni prepaid.
(g) Cash at b#nk
Cash al bank includes cash aiid shon tei'm Iiighly liquid investments M'ith a short niaturity of tliree Inonihs
oi. less fium the dale of opeiiing ol" the deposil.

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEE
1121
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED J l DECEMBER ?0?4
(conliniied)
(h) Creditor5 and proi'is)OllS
Ci'editors and provisioii% are recogTiiised where the charity lias a pi'esenl ohli(yation arising from a past
eveni ihat will probably I'esuli ii) the Iranstei. ol. fui)ds ID a third parry arid the ainoiint due 10 settle the
obligation can be measui'ed or estimated reliably. Creditors and pi'ovisions are i-ecogjnised at their
settleiiient amount.
(i) Fund accounting
Tlie funds held b), Ilie charity al'e either:
Restricted funds ihese are tunds ihat can onl}, be used for particular restricted purposes wiil)in the
objects ol. the charity. Resti'ictions arise ivhen specitied by the doiior or ivl)en t.unds are raised loi.
particular PLirposes' or
Unrcstricled funds - Ihese are fui)ds which can be used in accoi'dance with Il)e charitable objects at the
discreiion of the dii'ectois.
2 INCOVI AE AND ENDOWMENTS
2024
2024
lJn reslricted Retilricie(J
2024
Total
202J
Total
2.1 I ncon)e froni charitable actiwies
MaJiageiiienl charges
Pi-operty managemeiil
Adiiiin islralion cliarges
Interest from loans to cliurches aiid irusls
38.460
38.460
18.9?7
14,184
18,698
16,566
14.184
18.698
90.?69
18,625
80.5C)6
2.2 Incoine from investment
li)vesliiienl propeilies
Investments listed on recognised stock exclianb?e
Baiik and oilier interesl
7.238
44,061
79.045
130J44
7,2i8
44.061
84.C)60
lii.959
6,817
5.615
i9,467
All investin¢i)i iiicome arose Iroi)i assets l)eld in Ilie UK
3 EXPENDITURE
2024
2024
U nrestricied Restricted
2024
Total
2023
Tot21
3.1 Raisin2 funds
Ini'esliiiLnt Inanagemeni
Inveslnient pi'opeit), expenditui'e
6.085
2,520
8.605
6,085
2,5?0
8.60)
5,874
1,754
3.2 Charitable actil'ities
Grant pa>'able to AGBC(SE)
Gi'ant payable to Doivne Baptisi Cliui'ch
Inlei'est pas'able to chLirches and trLists
Office and stationer), costs
Developinent consultancy costs
Trusiee nianageinent cliarge
Legal and pi'ofessional fees
Goi'erance costs
Bank cliarge5 and inierest
60,677
20,000
?0.000
1 ?3.998
509
1 ?3,998
509
360
75,927
1£4
1,065
40
40
40
40
40
6.97?
60
700.180
4,308
8$
14?.297
60
220,720
20,040

GRACE BAPTIST CHARITIES LIMITED
IBY GUARANTEEI
1131
NOTES TO THE ACCOLINTS
FOR THE YEAR ENDF.D i l DECEMBER ?0?4
Iconiinued)
2024
2024
Investnieiit
Quoted
properties investwnents
2024
4 INVESTMENTS
Markei value at I st Januaiy ?024
Additions
Uiirealised gains
Disposals
Mai'kei valLte at 31 st Deceiiiber 2024
175,J90
1,28i.605
188 ?67
1 ,458,99i
188,?67
79,897
707.0451
1.5?0 114
3.)42
{?07.045
1341 18?
178.93?
H isiorical c()sl al 31 sl December ?024
136)6)
1 ?69.641
1406 004
14 isiorical LOSI ai i I si DL'ceniber 2023
136.363
1 ?88419
1.4?4.78?
The directors obiained a professional valuaiion of rhe invesimeni properties in t)eceinber 2021 and l)ave
updated Iliis by I'eference lo n21ional house price indices.
5 DEBTORS
Loan.$ (payalile at'ler niare than one )'ear)
-oaiis lo chiii'cli¥S (.? )
-oans lo tru.sts (4)
2024
21123
?46.491
?5?.000
498.491
211,017
49?,000
703017
Oiher debtor5
An)()Iinls dLie fi'oin cl)urcl)es
Siiiidi'y debiors
19.900
?1,130
41.UiO
11,-fj08
?U.610
Total debtors
$39,521
7J5,13fj
6 CIJRRENI" ASSET INVESTMEiYTS
?024
21)23
Couiities ai)d Caiiibi'idge Baiik 95 days, noii¢¢'
63.644
63.644
61,020
61.0*0
7 CRFDITORS.. ainounls falling due ¥i'iihin one year
?1}24
20?3
Amouiits due to cliurcl)es
Amoiint dLie io AGBC(SE)
Amounts due io Irusis
Otlier creditors
?,396 ??7
254,26)
314,0•6
6.007
2.970.i2J
1.901,303
)i7,416
?59,977
?504.419
8 CRF.DITORS.' ainounis falliiig due after more than one year
2024
202J
Amounis due io cliurelies
303,9)6
423 66)
This represeiits amoLinls due to cliui'ches ￿,here ilie balance is ovei. £ 100.000 aiid the iiotice period
exceeds J65 days.

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEEI
1141
NOTES TO TIIE ACCOIJNTS
FOR T14E YEAR ENDED 31 DECEMBER ?0?4
(continued)
9 RESTRICTED FUNDS
2024
2024
2024
Ha}es Lane
Legacy
?7,6?)
1.05i
(20
?8.658
Downe
Legacy
lJO?56
Total
Balance at I st Jaiiuary 20?4
liicome
ExpendilLlI'e
Balance ai J I st DeLembei. ?024
157.881
i.615
20,040)
14i.456
20,0?01
114.798
Figure.f for prei'ioii.s Jieurfor ci)nipiiri.soii
2023
202.1
2023
Hayes Lane
Legacy
Downe
Legacy
126.747
3,5?9
(?0
lJO?56
Toial
Balaiice at I st January •0?3
Incoine
Expenditure
Balance ai i I st Decen)ber 20?3
1.$3,643
4.778
40)
li7.881
749
(?0
27.6?5
I'he I'esti'icted funds arose fi'oni le<Jacies receivLd to be applied for Ilie benefit of specific chui'chLs (11 (lie
discretioii of the dirccloi's ol. the conipany.
10 IYET ASSLI'S
Upireslricled Re.slricled
2024
Tolal
C.urrLiiilJ'gur
Iiiveslii)LiilS
Net cui'i'eiii (liabilities) / asseis
Long iei'in (liabililies)
1 S?0.114
1480,8841
{30J.956
7J S.?74
(6?4,J40)
303 1)56)
f91 8113
14i.456
14i.4)6
202.1
Tolal
Unre.slricled Re.Ilricled
Fi&puresfiJri)revii)u.i.yeurfi)r L'oiNpari.son
Investments
Nel ciiiyent (liabilities) / assets
Long terni (liabiliiies)
1,458.995
(5?2,500)
4?j,66i)
512 8.)0
1.458,99)
(364.619)
42J:665}
670.711
157,881
157.881
I'lie Iriistees policy is to invesl origiiial lunds 10 provide both capiial fuiids aiid income.
I I AUDIT, INDF.PENDEYT EXAMINATION AND OTHER FINANCIAL SERVICES FEES
Tl)e conipaii} s auditor5 niade Ilie l-olloiving charges:
2024
202.1
ree for audit of accouiits
Fee for oihei. services
4.440
72
4.51?
12 STAFF COSTS AND EMPLOYEF. BENEFITS
Tlie Ch￿.]l}, did not emplov an), staff dui'ing the year.

GRACE BAPTIST CHARITIES LIMITED
(BY GUARANTEEI
1151
NOTES TO THE ACCOIJNTS
FOR THE YEAR ENDFD J l DECEMBER ?0?4
{continued)
13 ASSETS HELD ON BEFIALF OF THIRD PARTIES
The coinpany acts as a Lrust corporatiDn being CLlStodian iruslee foi. va]'ious cl)urches and irusts. Records are
kepi Ivliich identify the holdinos applicable lo eacl) chui'cl) and ii'ust toi. invesimenls lield in the naiiie of Ilie
companv. Tliese assets aiid iheir associated ti'ansactions al'e dealt will) in il)e accouiits of tlie cliuiclies and
Ii'usls coiicerned.
It has been appointed trLlStee, in son)e cases by tl)e Cliaritv Commissioners, ot- various cliarities lisied in note 14
whicli liave beeii eslablished to advaiice Ilie ¥i'oi'k of ilie AGEIC{SE} li) speeiliL g7ei)gyraphieal are￿. Tlie assets
held in this capaciti. at i l DecLinber 20?4 were..
Iiii'esiin¢iitS Liiider Inanagemeiii
nN'Lsiiiieiit propeiliL%
Properr%' used loi. ¢liai'its]ble purposes
Otlier net assels
Loans
5.909.601
1,81J,596
2,078,?40
259.60J
10.061.040
The coinpaiiy also acts as cusiodian trustee ol. cei1aiii asseis loi. varioiis churclies i¥'hicli liave their own local
managing Iriisiees. The cosilvaluation ol" assets held in tliis capacity le.¥cluding ilie valiie of ar]y chui'ch
premises and manses for whicli no I'el iable Cost infornialion is ai'ailable) al 31 sl Deceiiiber ?0?4 wa8..
Investnients uiidei. nianagyeineiit
Iiii'esinieiit propert),
Propei1ies used for chiiriiable purp()ses
C)Iliei' iiei asseis
l.oans
786.307
624,999
1,444.77J
JOi,00()
229,68?)
19Jl.401
14 Rf.LATED PARTY
TlJe follow'ing direLloi's al'e also li'uslees of Ilie AGBC{SE) (the -charily') aiid, &8 such, liave ali inieresi in
transactions cari'ied oul oli behall. of Ii'usts and cliurches administered by Ilie coiiipany and the cliai'ity.. A
Ci'eedy Icliairman). P Fuggyle, A Gardiiei. {Fiiiance Ol'ficer). B Jones, A King , D J Moitinier (Tre￿urer
froni Oci •O?4), Miss M O, Mara, P Siiiiih, J Southcon)be 11-I'easurer) (I'esiLiried Oct ?0?41, C Clark'soii
(appointed Oct ?0•4). aiid P M Woodley (I'esigned Oct ?094).
The Iransactions iiivolve oi'ants and
niaiiaaemeni chai'ges paid by Ilie Iriists aiid chui'¢l)es adminisiered by Ihe coinpany.
Trusi liinds I'elatino lo the tollowiiig IrLlSts wei'e adininistered by the tenms of their I'riist Deeds: Ai'oiimore
Avenue: Bi'igliion I'rust- Buekland Coi))Inot) Baptisi Chapel Trust,. Dudlev Bapiisi Cl)Lirch Ti'usl; 'Fbenezei
Baptist Chapel, Illord Trust: Eva Rance Charity; Feliham 'Zoar Cliapel Trust,; Feltliam 'Avonii'ick' Trusl,.
Gaddesden Roiv Chapel TrLlSt,' Grace c.harities Trust- Little Wild Streei Trust Chapel (Strict Baplisi) FLllId:
Mayfoi'd Cliai)el T'rust: Poiten Eiid Cl)apel fund. ProvidLnce Cliapel, Kinostoii Trust; RiLlimoiid Homes Trust.
"Salem ' Baptisi CliapLI, Richiiiond Chariiy. Wilsloiie Chapel.
An interesi bearing loan of £25,001 has been advanced to Nemtown Baplisl Church, Cheshaiii of wliich the
trustee D Mortimer is also a irusiee. Tlie balance at year end was £6,991.
15 TRUSTEES, REMUNERATION AND EXPENSES
No reiiiunerat1011 or I'eiinbursemeni of expenses dii'ectly or indirectly out ot- the t.unds of ihe cliai'ity ivas paid oi.
pavable for ilie I'eai. to aiiv Irustee 01. to an). person or pei'soiis L-￿0￿,n to be coiiiieeied ii'.ith any of Ilieiii.