**CHARITY REGISTRATION NUMBER: 1173626** 

## **Amazing Grace Spaces Unaudited Financial Statements** 

## **31 March 2023** 

## **ELLIS LLOYD JONES AUDIT LIMITED** 

Chartered accountants 11 Park Square Newport South Wales NP20 4EL 



## **Amazing Grace Spaces** 

## **Financial Statements** 

## **Year ended 31 March 2023** 

||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Independent examiner's report to the trustees|**7**|
|Statement of financial activities|**8**|
|Statement of financial position|**9**|
|Notes to the financial statements|**10**|





## **Amazing Grace Spaces** 

## **Trustees' Annual Report** 

## **Year ended 31 March 2023** 

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023. 

|**Reference and administrative**|**details**|
|---|---|
|**Registered charity name**|Amazing Grace Spaces|
|**Charity registration number**|1173626|
|**Principal office**|Llanwern Park Farm|
||Llanwern Village|
||Newport|
||NP18 2DS|
|**The trustees**|Reverend L Freckleton|
||Mrs J Sims|
||Mr G Nicholas|
||Mr S Waters|
|**Independent examiner**|Kara Williams BSc BFP FCA|
||11 Park Square|
||Newport|
||South Wales|
||NP20 4EL|



**1** 



## **Amazing Grace Spaces** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **Structure, governance and management** 

Amazing Grace Spaces is a charitable incorporated organisation and is governed by its constitution, dated June 2017. The charity was set up by Caroline and Stuart Johnson. Amazing Grace Spaces (hereafter AGS) would like to thank the trustees for their hard work and commitment over the last year alongside staff and volunteers. We would like to thank all the stakeholders that have supported the charity this year we know without your support we would not have accomplished the aims and objectives of the charity. We want to especially thank Green Pastures who purchased Grace house and the amazing continued support they give. Also thank you to Lloyds Foundation for two years funding and their expertise in a number of areas that has given AGS the opportunity to grow the work they are doing. 

Jade Sims is the Chair of Amazing Graces Spaces with Lester Freckleton, Steven Waters and Gary Nicholas making up the board of the trustees. 

Trustees meet 6 times a year, overseeing the governance of the charity, making decisions about the charity's finances, safeguarding, health and safety, projects, and activities to ensure they are meeting the charity's aims and objectives. We have resumed meeting in person again also, trustees are kept up to date by emails and phone calls, if decisions need to be made regarding governance of the charity. The Director is responsible for the day to day running of the charity. Where Trustees have expertise in a certain area, they work closely with the Director on projects to ensure their development and success. 

To ensure that AGS is carrying out its primary purposes for the public benefit, all trustees work with the 6 key duties issued by the Charity Commission. All trustees understand they must act exclusively in the best interests of the charity, being actively involved in decision making and the governance of the charity. Each trustee is expected to agree and sign a document to that effect. 

## **Recruitment and training of trustees** 

We are always actively looking for new trustees that can bring new levels of expertise to the charity. 

When recruiting a new trustee, the candidate is asked for a pen profile, put in writing to the Trustees, explaining why they would like to join the board, with a brief description of experience and what they can bring. The Director and Chair meet with the interested party, to discuss what the charity does and the role and responsibilities of a trustee. Once all agree and the paperwork has been completed, including DBS check, the person is invited to the next Trustees meeting. Trustees are offered training outsourced by Thirty-one eight, an external organisation which provides all safeguard and trustee training. They also complete all DBS checks for the organisation including trustees. 

**2** 



## **Amazing Grace Spaces** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **Objectives and activities** 

The objectives of the charity are: 

The relief of those in need in England and Wales through homelessness, addictions and other social and/or economic problems by providing support, education, practical advice and low-cost accommodation. 

## **Mission** 

Amazing Grace Space's mission is to develop and provide innovative, sustainable, affordable quality accommodation and emergency shelter for those in need, to partner with other homeless services to ensure homeless people have access to support, a safe space to recover. This mission will enable AGS to offer tenants the support they require. This will be developed for each resident offering assessments, mentoring, volunteering, training, and work experience. AGS is committed to establishing a sound base, at the heart of the charity are people, developing community and sustainability. 

## **Aims** 

The charity aims to: 

- Have the ability to provide affordable accommodation; 

- Have the ability to provide access to community recovery; 

- Have the ability to provide training and work in the community; and 

- Open doors to 'partner' with other agencies, sharing the overall cost. 

The charity wishes to move towards providing a sustainable response for disabled, homelessness, sofa surfers, and the vulnerably housed, offering a pathway into: 

- Short term entrenched homelessness Pods; 

- Short term accommodation in shipping containers; 

- Short term accommodation in houses/Church buildings; or 

- Long term accommodation such as flats/houses. 

At AGS, our Core Values, for the most vulnerable in society, are focussed around giving: 

- Stability, by ensuring an environment of safety; 

- Dignity, by demonstrating genuine respect; 

- Friendship, by creating a compassionate community; 

- Purpose, by sharing life - giving Faith; 

- Plan, by encouraging new opportunities. 

It is important that Trustees, staff, and volunteers understand AGS core values. Our aim is to support the most vulnerable in society by investing in them getting to know them what their interests are how we can support them to meet their potential. 

**3** 



## **Amazing Grace Spaces** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **Achievements and performance** 

We have a long-term lease for one house with Green Pastures CBS Limited, namely, Grace house in Newport, which was bought in 2019. The house accommodates 5 ladies and the house is constantly being updated and repaired, offering an excellent standard of living accommodation. Referrals for Grace house have come from HMP Parc prison, several residential rehabilitation programs and various organisations that work with women and self-referrals. Since the beginning of our project, the occupancy rate has been 14 residents. We have provided 1,550 nights of accommodation in the last year. In 2023, we have had 8 potential residents referred. 5 residents were offered a place. Two of the residents are still at Grace house. Unfortunately, it has been difficult to move any residents onto independent living due to the lack of available accommodation. 

Over the past year, we have landscaped the garden at Grace house, which was very overgrown. It now has flowerbeds, and we are growing vegetables. This has been a positive outcome for the ladies for their mental health and wellbeing. This year, we have installed a new kitchen and utility room at the house. 

We currently have a director and 2 house managers at Grace house. We have volunteers willing to support the ladies at Grace house, taking them for a coffee and catch up and listening to see how they can support residents working with staff to give the best outcome for each resident. Staff and volunteers support the residents to access work, college, volunteering, fitness, and emotional wellbeing, making sure residents go to appointments. Each manager is assigned a resident who they meet weekly to discuss what steps they are taking for moving on and their future. This is documented, and the positive outcomes are built on. There is a house meeting and a staff and volunteer meeting monthly, to discuss issues. The residents, staff and volunteers work together so that the house can be a safe and positive place to live. 

We are proud of the positive outcomes at Grace house. Grace house is unique in the services it provides, promoting an attitude of individual, strength-based outcomes for each resident. Sadly, it is becoming harder to move ladies on to independent living because of lack of housing and its also harder to motivate the ladies. One lady works with two organisations and is growing in confidence with the support she is receiving. Another is working on a course for computer coding and working towards a Open University course. Another two are working through their problems and doing well with the hope to move to independent living. It doesn't always work out and one lady who initially did well was recently recalled to prison as she struggled in a open environment after being in prison for some years. Another, after a short stay at Grace house, returned to her family. 

Through our subsidiary Homes 1st Limited, we continue to build and sell urban emergency sleep pods, which has contributed to the funding of AGS. We continue to sell the pods to charities and councils, which has added to the sustainability of the charity. We have regular enquiries and are trying to build on the sale of the pods year on year. The benefit of this activity is two-fold, providing those sleeping rough around the UK a safe space to sleep. We know from partners who have purchased the pods that those entrenched in homelessness, who are offered a pod, are engaging with services which can work to offer the client permanent accommodation but also providing AGS with a source of income. We have sold 33 pods across the UK since designing and building them. 

We have updated our website and social media with the help of Lightmedia. We have started our blogs, which also appear on the website for people to see what we are doing. We completed the new housing contracts to meet the criteria that Welsh Assembly have stated to all landlords in Wales. This was a huge process for a small charity and thanks to our trustee, Lester Freckleton, who helped with the process. We have worked with a lot of new professionals, promoting AGS and getting involved in a greater way with these organisations. 

A big thank you to all the trusts, foundations and people that have made one off donations and grants 

**4** 



## **Amazing Grace Spaces** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 March 2023** 

supporting our work especially those that support us monthly, both monetary and by giving their time. 

## **Public benefit statement** 

The objects of the charity are to: 

- promote the relief of those in need in England and Wales, working toward providing affordable accommodation for those who are homeless being released from prison, coming out of residential rehabilitation programs and escaping domestic violence without distinction of race, gender, age, disability, religion, or sexual orientation; 

- provide good affordable accommodation for those who are vulnerable in society including converted containers, housing, and urban emergency sleep pods; 

- provide a safe space for those in recovery, who are struggling with social and/or economic problems, including mental health and domestic violence; and 

- provide support, through opportunities of volunteering, education, training, and employment. 

- The public benefits are: 

- An enhanced quality of life and sense of well-being through providing accommodation, engagement and participation in activities, leading to improvements in physical and emotional well-being, quality of life and a more stable and cohesive community; 

- Increased opportunities to engage in new activities, leading to greater social cohesion and fulfillment; 

- Enhanced active citizenship and involvement in community life. 

## **Financial review** 

Total income during the year was £123,663 compared to £102,553 in 2022. The increase was due to increased grant funding and an increase in the number of residents at Grace House, which consequently led to an increase in rental income from charitable activities. Restricted income, consisted of grant income of £30,000 (2022: £5,753 (grants) and £21,034 (income from charitable activities)). The trustees were pleased to be awarded total grant funding of £62,050 (2022: £32,528) and are grateful to all partners for their continued support. 

Total expenditure for the year was £100,345 (2022: £86,653). The increase was due to refurbishment of the garden at Grace house and increase in other costs due to inflation. As resident numbers increase at Grace house, naturally the support costs also increase. Following a small transfer to one of the restricted funds, there was a surplus of £12,965 during the year on the unrestricted fund (2022: surplus of £10,450) and a surplus on the restricted funds of £10,352 (2022: surplus of £5,450). Overall, there was a surplus of £23,318 (2022: surplus of £15,900) as grants towards the year end have been carried forward to next year. 

The balance at the year end on the unrestricted fund was £34,223 (2022: £21,258) and the restricted fund was £23,925 (2022: £13,572). Total funds carried forward at 31 March 2023 were £58,148 (2022: £34,830). . 

**5** 



## **Amazing Grace Spaces** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **Plans for future periods** 

Having a full house at Grace house is important for our future. We want to continue to offer the best opportunities for the ladies living at the house. We have started looking for funding for 3 years to keep Grace house open and fully support the requirement for the services it offers. As we are reaching capacity at Grace house, we have identified a second property with Green Pastures and are currently waiting for the completion which would expand our accommodation and enable us to help more women. Our supported accommodation has now been renamed Grace to Grace Supported Housing and the new property will be Naomi house. 

We understand with less suitable accommodation available where the ladies can move after they leave Grace house, we need to secure suitable accommodation for the ladies at Grace house once they move on. Some will need support for a long period of time because of mental health. We are in communication with our partners about potential opportunities for such accommodation. 

We are excited for the future as we continue to offer a safe space, with support and recovery for ladies fleeing domestic violence or leaving prison with no accommodation, leaving residential programs or who are homeless. Our supported accommodation is unique, in the terms of what it provides. We will walk the journey with each new resident, helping them stay positive and focused. Staying in recovery is the biggest and hardest thing they will do, without support.  We will support them as they grow spiritually and personally through volunteering, training, education, and work. 

We are excited to offer emergency sleep pods and affordable accommodation and will be promoting the house the accommodation with the support of the Trustees and partners across the UK. 

## **Reserves policy** 

The trustee's aim is to work towards ensuring sustainability for the charity and aims to build up reserves of at least 3 months costs to ensure project continuity. As a new charity, this is a work in progress and something the trustees continue to work towards to ensure that the charity can continue its work, helping those in need. 

Oct 23, 2023 The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by: 

Lester Freckleton (Oct 27, 2023 17:33 GMT+1) **Reverend L Freckleton Trustee** 

Jade Sims (Oct 23, 2023 17:59 GMT+1) 

**Mrs J Sims Trustee** 

**6** 



## **Amazing Grace Spaces** 

## **Independent Examiner's Report to the Trustees of Amazing Grace Spaces** 

## **Year ended 31 March 2023** 

I report to the trustees on my examination of the financial statements of Amazing Grace Spaces ('the charity') for the year ended 31 March 2023. 

## **Responsibilities and basis of report** 

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

I report in respect of my examination of the charity's financial statements 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 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 respect of the charity as required by section 130 of the Act; or 

2. the financial statements do not accord with those records; or 

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

## Kara Williams 

Kara Williams (Oct 27, 2023 18:24 GMT+1) 

## **Kara Williams BSc BFP FCA Independent Examiner** 

11 Park Square Newport South Wales NP20 4EL 

Oct 27, 2023 

**7** 



## **Amazing Grace Spaces** 

## **Statement of Financial Activities** 

## **Year ended 31 March 2023** 

||||**2023**||2022|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**4**|43,589|30,000|73,589|80,480|
|Charitable activities|**5**|48,631|–|48,631|22,024|
|Investment income|**6**|1,443|–|1,443|49|
|||`────────`|`────────`|`─────────`|`─────────`|
|**Total income**||93,663|30,000|123,663|102,553|
|||`════════`|`════════`|`═════════`|`═════════`|
|**Expenditure**||||||
|Expenditure on charitable activities|**7,8**|80,670|19,675|100,345|86,653|
|||`────────`|`────────`|`─────────`|`─────────`|
|**Total expenditure**||80,670|19,675|100,345|86,653|
|||`════════`|`════════`|`═════════`|`═════════`|
|||`────────`|`────────`|`─────────`|`─────────`|
|**Net income**||12,993|10,325|23,318|15,900|
|||`════════`|`════════`|`═════════`|`═════════`|
|Transfers between funds||(28)|28|–|–|
|||`────────`|`────────`|`─────────`|`─────────`|
|**Net movement in funds**||12,965|10,353|23,318|15,900|
|**Reconciliation of funds**||||||
|Total funds brought forward||21,258|13,572|34,830|18,930|
|||`────────`|`────────`|`─────────`|`─────────`|
|**Total funds carried forward**||34,223|23,925|58,148|34,830|
|||`════════`|`════════`|`═════════`|`═════════`|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

**The notes on pages 10 to 19 form part of these financial statements.** 

**8** 



## **Amazing Grace Spaces** 

## **Statement of Financial Position** 

## **31 March 2023** 

|||**2023**|2022|
|---|---|---|---|
||**Note**|**£**|£|
|**Fixed assets**||||
|Tangible fixed assets|**14**|19,050|11,689|
|**Current assets**||||
|Debtors|**15**|20,762|14,002|
|Cash at bank and in hand||23,688|14,946|
|||`────────`|`────────`|
|||44,450|28,948|
|**Creditors: amounts falling due within one year**|**16**|5,352|5,807|
|||`────────`|`────────`|
|**Net current assets**||39,098|23,141|
|||`────────`|`────────`|
|**Total assets less current liabilities**||58,148|34,830|
|||`────────`|`────────`|
|**Net assets**||58,148|34,830|
|||`════════`|`════════`|
|**Funds of the charity**||||
|Restricted funds||23,925|13,572|
|Unrestricted funds||34,223|21,258|
|||`────────`|`────────`|
|**Total charity funds**|**18**|58,148<br>`════════`|34,830<br>`════════`|



These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by: Oct 23, 2023 

Lester Freckleton (Oct 27, 2023 17:33 GMT+1) 

## **Reverend L Freckleton Trustee** 

Jade Sims (Oct 23, 2023 17:59 GMT+1) **Mrs J Sims Trustee** 

**The notes on pages 10 to 19 form part of these financial statements.** 

**9** 



## **Amazing Grace Spaces** 

## **Notes to the Financial Statements** 

## **Year ended 31 March 2023** 

## **1. General information** 

The charity is a public benefit entity and a registered charity in England and Wales and is a charitable incorporated organisation. The address of the principal office is Llanwern Park Farm, Llanwern, Newport, NP18 2DS, United Kingdom. 

## **2. Statement of compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. 

The financial statements are prepared in sterling, which is the functional currency of the entity. 

## **Going concern** 

There are no material uncertainties about the charity's ability to continue. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. 

Designated funds are unrestricted funds earmarked by the trustees for particular future project or 

commitment. 

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 

## **Incoming resources** 

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: 

- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. 

- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 

**10** 



## **Amazing Grace Spaces** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **3. Accounting policies** _**(continued)**_ 

## **Resources expended** 

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: 

- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. 

- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

## **Operating leases** 

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. 

## **Tangible assets** 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities.  A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. 

## **Depreciation** 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

Short leasehold property - 17% straight line Plant and machinery - 25% straight line Equipment - 25% straight line 

**11** 



## **Amazing Grace Spaces** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **3. Accounting policies** _**(continued)**_ 

## **Impairment of fixed assets** 

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 

## **Financial instruments** 

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. 

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. 

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. 

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 

## **Defined contribution plans** 

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. 

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. 

**12** 



## **Amazing Grace Spaces** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **4. Donations and legacies** 

||||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|---|---|
||||Funds|Funds|**2023**|
||||£|£|**£**|
||**Donations**|||||
||Donations||11,539|–|11,539|
||**Grants**|||||
||Grants receivable||32,050|30,000|62,050|
||||`────────`|`────────`|`────────`|
||||43,589|30,000|73,589|
||||`════════`|`════════`|`════════`|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2022|
||||£|£|£|
||**Donations**|||||
||Donations||47,952|–|47,952|
||**Grants**|||||
||Grants receivable||26,775|5,753|32,528|
||||`────────`|`───────`|`────────`|
||||74,727|5,753|80,480|
||||`════════`|`═══════`|`════════`|
|**5.**|**Charitable activities**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2023**|
||||£|£|**£**|
||Grace House rent||48,631|–|48,631|
||||`════════`|`════`|`════════`|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2022|
||||£|£|£|
||Grace House rent||990|21,034|22,024|
||||`════`|`════════`|`════════`|
|**6.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||Bank interest receivable|45|45|–|–|
||Other interest receivable|1,398|1,398|49|49|
|||`───────`|`───────`|`────`|`────`|
|||1,443|1,443|49|49|
|||`═══════`|`═══════`|`════`|`════`|



**13** 



## **Amazing Grace Spaces** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **7. Expenditure on charitable activities by fund type** 

||||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|---|---|
||||Funds|Funds|**2023**|
||||£|£|**£**|
||Provision of community support||3,813|3,610|7,423|
||Provision of affordable accommodation||73,802|15,065|88,867|
||Provision of training and work in the community||–|–|–|
||Support costs||3,055|1,000|4,055|
||||`────────`|`────────`|`─────────`|
||||80,670|19,675|100,345|
||||`════════`|`════════`|`═════════`|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2022|
||||£|£|£|
||Provision of community support||13,171|3,974|17,145|
||Provision of affordable accommodation||37,869|17,363|55,232|
||Provision of training and work in the community||10,589|–|10,589|
||Support costs||3,687|–|3,687|
||||`────────`|`────────`|`────────`|
||||65,316|21,337|86,653|
||||`════════`|`════════`|`════════`|
|**8.**|**Expenditure on charitable activities by**|**activity type**||||
|||Activities||||
|||undertaken|<br>Support|**Total funds**|Total fund|
|||directly|costs|**2023**|2022|
|||£|£|**£**|£|
||Provision of community support|7,423|–|7,423|17,145|
||Provision of affordable accommodation|88,867|600|89,467|55,232|
||Provision of training and work in the|||||
||community|–|–|–|10,589|
||Governance costs|–|3,455|3,455|3,687|
|||`────────`|`───────`|`─────────`|`────────`|
|||96,290|4,055|100,345|86,653|
|||`════════`|`═══════`|`═════════`|`════════`|
|**9.**|**Analysis of support costs**|||||
||||Accounts and|||
||||management|**Total 2023**|Total 2022|
||||£|**£**|£|
||General office||600|600|–|
||||`════`|`════`|`════`|
|**10.**|**Net income**|||||
||Net income is stated after charging/(crediting):|||||
|||||**2023**|2022|
|||||**£**|£|
||Depreciation of tangible fixed assets|||3,864<br>`═══════`|4,107<br>`═══════`|



**14** 



## **Amazing Grace Spaces** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **11. Independent examination fees** 

||**2023**|2022|
|---|---|---|
||**£**|£|
|Fees payable to the independent examiner for:|||
|Independent examination of the financial statements|2,604<br>`═══════`|2,400<br>`═══════`|



## **12. Staff costs** 

|The total staff costs and employee benefits for the reporting period are analysed as|The total staff costs and employee benefits for the reporting period are analysed as|follows:|
|---|---|---|
||**2023**|2022|
||**£**|£|
|Wages and salaries|32,190|27,104|
|Social security costs|1,411|1,282|
|Employer contributions to pension plans|455|427|
||`────────`|`────────`|
||34,056|28,813|
||`════════`|`════════`|



The average head count of employees during the year was 3 (2022: 2). 

No employee received employee benefits of more than £60,000 during the year (2022: Nil). 

## **13. Trustee remuneration and expenses** 

There was no trustee remuneration or any expenses claimed by trustees during the current or prior years. 

## **14. Tangible fixed assets** 

||Short||||
|---|---|---|---|---|
||leasehold|Plant and|||
||property|machinery|Equipment|**Total**|
||£|£|£|**£**|
|**Cost**|||||
|At 1 April 2022|17,993|917|3,513|22,423|
|Additions|10,028|–|1,197|11,225|
||`────────`|`────`|`───────`|`────────`|
|**At 31 March 2023**|28,021|917|4,710|33,648|
||`════════`|`════`|`═══════`|`════════`|
|**Depreciation**|||||
|At 1 April 2022|7,499|917|2,318|10,734|
|Charge for the year|3,323|–|541|3,864|
||`────────`|`────`|`───────`|`────────`|
|**At 31 March 2023**|10,822|917|2,859|14,598|
||`════════`|`════`|`═══════`|`════════`|
|**Carrying amount**|||||
|**At 31 March 2023**|17,199|–|1,851|19,050|
||`════════`|`════`|`═══════`|`════════`|
|At 31 March 2022|10,494|–|1,195|11,689|
||`════════`|`════`|`═══════`|`════════`|



**15** 



## **Amazing Grace Spaces** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **15. Debtors** 

||**2023**|2022|
|---|---|---|
||**£**|£|
|Amounts owed by group undertakings|20,632|14,002|
|Other debtors|130|–|
||`────────`|`────────`|
||20,762|14,002|
||`════════`|`════════`|
|**Creditors:** **amounts falling due within one year**|||
||**2023**|2022|
||**£**|£|
|Accruals and deferred income|2,604|2,400|
|Social security and other taxes|1,020|604|
|Other creditors|583|741|
|Other creditors|1,145|2,062|
||`───────`|`───────`|
||5,352|5,807|
||`═══════`|`═══════`|



## **16. Creditors: amounts falling due within one year** 

## **17. Pensions and other post retirement benefits** 

## **Defined contribution plans** 

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £455 (2022: £427). 

## **18. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**||||||
|---|---|---|---|---|---|
||At 1||||**At 31**|
||April 2022|Income|Expenditure|Transfers|**March 2023**|
||£|£|£|£|£|
|General funds|21,258|93,663|(80,670)|(28)|34,223|
||`════════`|`════════`|`════════`|`════`|`════════`|
||At 1||||At 31|
||April 2021|Income|Expenditure|Transfers|March 2022|
||£|£|£|£|£|
|General funds|10,808|75,766|(65,316)|–|21,258|
||`════════`|`════════`|`════════`|`════`|`════════`|



**16** 



## **Amazing Grace Spaces** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **18. Analysis of charitable funds** _**(continued)**_ 

## **Restricted funds** 

|**Restricted funds**||||||
|---|---|---|---|---|---|
||At 1||||**At 31**|
||April 2022|Income|Expenditure|Transfers|**March 2023**|
||£|£|£|£|£|
|Comic Relief|–|–|–|–|–|
|J Andrew Trust|1,419|–|(1,419)|–|–|
|Albert Hunt grant|8,283|–|(8,283)|–|–|
|Trak 2000 grant|–|–|–|–|–|
|Morrisons grant|2,840|–|(2,840)|–|–|
|Community foundation|1,030|–|(1,030)|–|–|
|The Hobson Charity||||||
|grant|–|–|–|–|–|
|Newport City Council||||||
|Participatory fund|–|5,000|(5,000)|–|–|
|Margaret Davies Charity|–|10,000|(323)|28|9,705|
|Cheshire Homes|–|5,000|–|–|5,000|
|Newport City Council|–|10,000|(780)|–|9,220|
||`────────`|`────────`|`────────`|`────`|`────────`|
||13,572|30,000|(19,675)|28|23,925|
||`════════`|`════════`|`════════`|`════`|`════════`|
||At 1||||At 31|
||April 2021|Income|Expenditure|Transfers|March 2022|
||£|£|£|£|£|
|Comic Relief|930|754|(1,684)|–|–|
|J Andrew Trust|2,192|–|(773)|–|1,419|
|Albert Hunt grant|5,000|5,000|(1,717)|–|8,283|
|Trak 2000 grant|–|13,003|(13,003)|–|–|
|Morrisons grant|–|5,000|(2,160)|–|2,840|
|Community foundation|–|1,030|–|–|1,030|
|The Hobson Charity||||||
|grant|–|2,000|(2,000)|–|–|
|Newport City Council||||||
|Participatory fund|–|–|–|–|–|
|Margaret Davies Charity|–|–|–|–|–|
|Cheshire Homes|–|–|–|–|–|
|Newport City Council|–|–|–|–|–|
||`───────`|`────────`|`────────`|`────`|`────────`|
||8,122|26,787|(21,337)|–|13,572|
||`═══════`|`════════`|`════════`|`════`|`════════`|



**17** 



## **Amazing Grace Spaces** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **18. Analysis of charitable funds** _**(continued)**_ 

## **Comic relief** 

The Comic relief grant was received towards the cost of a professional counsellor to support charity beneficiaries. 

## **J Andrew Trust** 

This donation provided one year's funding towards the salary costs of the House Manager at Grace House. 

## **Albert Hunt grant** 

The Albert Hunt grant was received towards the cost of a professional counsellor to support charity beneficiaries. 

## **Trak 2000 grant** 

The Trak 2000 grant provided one year's funding towards the salary costs of the house manager at Grace House. 

## **Community Foundation grant** 

The Community Foundation grant was received towards maintenance costs for Grace House. 

## **The Hobson Charity grant** 

The Hobson Charity Grant was received towards the cost of roof repairs which were required on Grace House. 

## **The Newport City Council Participatory fund** 

The Newport City Council Participatory fund grant was received towards counselling support provided to residents of Grace House. 

## **Margaret Davies Charity** 

The Margaret Davies Charity grant was received towards the kitchen refurbishment costs at Grace House. This was completed during 2022-23. The grant will however be amortised in line with the depreciation charged over the remaining years of the Grace House lease. 

## **Cheshire Homes** 

The Cheshire Homes grant was received towards counselling costs for residents at Grace House and once established, Naomi House. 

## **Newport City Council** 

The Newport City Council grant was received towards the salary costs of one of our House managers at Grace House. 

**18** 



## **Amazing Grace Spaces** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **19. Analysis of net assets between funds** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2023**|
||£|£|**£**|
|Tangible fixed assets|9,346|9,705|19,051|
|Current assets|30,230|14,220|44,450|
|Creditors less than 1 year|(5,353)|–|(5,353)|
||`────────`|`────────`|`────────`|
|**Net assets**|34,223|23,925|58,148|
||`════════`|`════════`|`════════`|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2022|
||£|£|£|
|Tangible fixed assets|11,689|–|11,689|
|Current assets|15,376|13,572|28,948|
|Creditors less than 1 year|(5,807)|–|(5,807)|
||`────────`|`────────`|`────────`|
|**Net assets**|21,258|13,572|34,830|
||`════════`|`════════`|`════════`|



## **20. Operating lease commitments** 

The total future minimum lease payments under non-cancellable operating leases are as follows: 

||**2023**|2022|
|---|---|---|
||**£**|£|
|Not later than 1 year|17,400|17,400|
|Later than 1 year and not later than 5 years|26,100|43,500|
||`────────`|`────────`|
||43,500|60,900|
||`════════`|`════════`|



## **21. Related parties** 

Included in amounts owed by group undertakings is £20,632 (2022: £14,002) owed to the charity by its subsidiary, Homes 1st Limited. An interest charge of £1,398 was applied to the year end loan balance and is included within other interest receivable. The interest rate charged was 7.27%. The trustees are in constant discussion with the director of Homes 1st Limited about the subsidiary's performance and repayment of the balance owed to the charity and are satisfied that the balance is recoverable. 

Total trustee donations in the year were £1,000 (2022: nil) and were unrestricted. 

There were no other related party transactions. 

**19**