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← Grace Church Wolverhampton

2024-08-30-accounts

GRACE CHURCH, WOLVERHAMPTON

TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

Company Registration No. 10905279 (England and Wales) Charity Registration No. 1174223

Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

Contents

Page
Trustees Report 4
Independent Examiners Report 8
Statement of Financial Accounts 10
Balance Sheet 10
Notes to the financial statements 11 - 16

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

Trustees Report Objectives and Activities

The Charity’s objects (“Objects”) are for the public benefit and are specifically restricted to the advancement of the Christian faith and the relief of sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, in such parts of the United Kingdom or the world as the Trustees from time to time may think fit.

Grace Church Wolverhampton is a Christian Church working in partnership with the Catalyst group of Newfrontiers churches, as well as sharing together with Connect, an association seeking to network Wolverhampton’s Churches. Grace Church believes that the good news of knowing God personally through faith in Jesus Christ is a message that is as important today as any other. The team serving GCW is led by Mark and Sally Lloyd who were called to Wolverhampton to assist in planting the Church in 2011 alongside Anthony and Gill Henson who were the original leaders of the church plant. Anthony and Gill had established a number of churches across the South East and the Midlands over the past 26 years. GCW has been established as a church since March 2013.

GCW believes that you do not have to be of a certain standard to get involved and participate in the life of the church. There are no experts. Even those who have been doing it for more than 30 years, do not consider themselves to be experts. There are also no perfect people including the leadership team and Elders. The church seeks together to simply go with what they believe God is saying at each stage of its development within the local context. GCW is built on a number of teams. It believes that having a good core team is an essential element in establishing the work that God has called it to. The church is young in heart and flexible, full of faith, able to adapt and prepared to take risks.

GCW desires to fulfil the command of scripture to take the Gospel into the world. GCW desires very much to grow not so much from transfer growth from other churches but by reaching new converts and seeing prodigals return to the Lord.

The vision of the church is about building a solid foundation of the Grace of God, the Word of God and the Holy Spirit but also reaching out to the community and the world around us. As much energy is spent on reaching people outside of the church as it is building up those who are already in the church.

Grace Church has certain values and characteristics which shape what it does and how it does it. These are:

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

Leaders and members of the congregation are committed to upholding and promoting this vision and these values.

Grace Church’s main activities comprise of the following:

Achievements and Performance

The Church has carefully and slowly emerged from the impact that Covid-19 has had on all institutions and churches. It continues to practice the Christian faith by teaching the Bible and by assisting the enquirer through all means available including electronic communications.

The Zoom facility has continued to greatly help us as a key for gathering people to pray or in small community groups when not able to meet face-to-face. Similarly, we have continued to utilise our YouTube recordings to ensure those who are unable to join us on a Sunday morning can access key pastoral teaching. However, following an emphasis on building community together we have stopped streaming our complete service and encouraged people to join back with the key ‘face-to-face’ expressions of church community. This was also reflected in our church barbecue, which was well attended and provided a perfect opportunity to develop community across the church.

We have continued to meet within the same location, which is reflective of many of the key needs in most communities within Wolverhampton. As a community we are currently in the process of assessing where we can meet to best serve the key localities around us. We have hosted a number of family focussed, community enriching events around the celebrations of Easter and Christmas. This has included animals, gifts and interactive services for all ages. We have again been particularly keen to assist the elderly and vulnerable during this year. Regular pastoral visits have continued alongside a number of initiatives to provide practical support to those in need. This has included a community sharing table as a response to the cost of living crisis so that all who come on a Sunday have access to a range of products and donations for free. Also, in the area of supporting the vulnerable, the Manna soup has restarted in a community centre in the Heath Town area of the city. It is regularly attended by at least 30 people with varying needs providing a key hub in the community. The volunteers, led by a member of the church receive constant positive feedback.

One impact of Covid that is increasingly being recognised throughout the world, is the impact on mental health. Through our church working in partnership with other organisations, assistance has been brought to schools, various contexts of social need and other groups. This is a key, ongoing need within the church and we are in the process of identifying some key ways we can be equipped to provide pastoral support and improve the mental wellbeing of those we meet with.

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

This period has again been a time of working closely with other Wolverhampton/Black Country churches, social action networks. There are a number of people within the church who have significant roles of influence within the city in the charitable, volunteer and support sectors. For instance a key leadership family within the church have began an initiative to develop a “street association” including community clean up events and street parties. This action has deepened connections within their neighbourhood and provided links with local councillors.

The church has provided care and assistance to a growing number of young families, to the extent where we now see that a major opportunity for the church is in providing support for young families. We have responded to this with the provision of a youth work and ongoing kids church on Sundays. Also, one Sunday per month we have developed our “family communion service” which has become a focal point for more accessible, interactive and community focussed expressions of worship.

We have made a number of donations during the year to assist the mission of this church and other churches via various ‘churches together’ groupings, as well as youth work, the poor and the elderly. One key new initiative has been an ongoing friendship with a Methodist church in another locality. Grace Church has provide fellowship and worship support on a monthly basis, meeting with this small congregation and providing teaching to see how we might partner together to serve the city. And the church has also sent donations to parts of the world where existing deprivation has been compounded by pandemic and war, in particular Kenya and Ukraine.

Grace Church continues to reflect in many ways the rich diversity of life in Wolverhampton and the Black Country with all age groups, many cultures and backgrounds represented within the congregation. We also have a growing awareness of neurodiversity present within our community.

The challenges we face as a church are exciting as well as very stretching and we look forward to another year of being a church with such a wide vision to impact the City of Wolverhampton, the Black Country and beyond.

Financial Review

Grace Church made a significant but planned financial loss during the last financial year. The majority of the charity’s general fund is made up of tithes and donations from the members of the organisation who contribute towards the ongoing costs of running the organisation. Income levels have continued to remain on the lower scale throughout this financial year. This continues to be a legacy of COVID and the ongoing challenges it has presented.

A conscious decision was made by the Elders and Trustees to invest some of the church’s significant reserves into the training and transition of Mark Lloyd into the role of Lead Elder of the church and developing a post COVID vision for the future of the church.

The church has a policy of not holding more than three months of reserves unless there are specific requirements for doing so. It currently holds free reserves of just under £…, which is more than the 3-month policy requires.

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

As previously indicated, the transition of the church to new leadership alongside investing in future growth, has required some reserves to be used in a deliberate and intentional manner in consultation with Elders and Trustees. This coming financial year and potentially next financial year will require ongoing investment and use of reserves, however this will enable the church to continue to serve the community in the same way it has for a number of years as well as implementing a long term strategy for financial stability and sustainability.

Structure, Governance and Management

The Church is governed by Articles of Association and is constituted as a Charitable Company (limited by guarantee). It is overseen by a board of trustees who are appointed by the Elders of the church.

In relation to the policies and procedures adopted by the charity for the induction and training of trustees, current and any new trustees are referred to guidance from the Charity Commission on their website under the heading of “Trustee Role and Board”. The Chair of trustees has put together an induction pack which includes guidance from the charity commission, information about the church itself including its policies and procedures and financial status and health.

New trustees are provided with up-to-date charity commission guidance relating to the role and responsibilities of trustees. They are provided with copies of the policies and procedures of the organisation and encouraged to read through them and ask any questions that they may have. The Chair of trustees meets with them to discuss the above documents, answer any questions and ensure that they have understood the requirements of the role that they are being asked to undertake.

The trustees are all members of the congregation. They all have experience of governance within educational or charitable organisations and a number have served on other boards in similar capacities or work operationally in partnership with boards within their own organisation.

The charity is currently led by a lead Elder Mark Lloyd who has transitioned to being the pastor of the church. He is supported by the other Elder Anthony Henson, a team of trustees and a wider leadership team. This is one of the biggest changes and opportunities in the past year. The year has reflected significant transition as Mark has developed within the role of Trainee Pastor to begin to take a lead role within the Eldership Team. Anthony has remained a key part of the Eldership team, transitioning into a position where his expertise and experience can be best utilised through teaching, mentoring Mark and other leaders and pastoral support. The church continues to be behind this initiative and has in fact flourished alongside the development of this team. Whilst these steps have meant a mid-term financial stretch for the church, the financial reserves have allowed for the extension of the ministry of the church in a new way, as well as galvanising the church into a new sense of purpose and action and has provided sound foundation for the future pastoral leadership of the church.

Mark’s role has included the gathering and initial development of a core team from within our wider leadership structure. Mark and Anthony have commissioned a revitalised website and rebranding too. Mark has led on the initial development of new vision and initiatives as well as providing a growing level of pastoral support and teaching.

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

Anthony has also continued to fulfil a wider remit with churches and leaders beyond Grace Church. He has mentored a number of other church leaders in the UK and Germany, providing support on key areas such as leadership development, church planting and pastoral ministry.

Grace Church is part of the Newfrontiers family of churches and benefits greatly from the support of those churches within this group through conferences that are organised by them and through the personal relationships between the church leaders. Grace Church is part of the Catalyst Network in Newfrontiers. The Catalyst Team is led by Simon Holley and encompasses a number of New Frontiers churches in the UK and across the world including many Russian speaking countries and the Middle East

Mark has also attended the “Leadership and Theology Training” run within the Catalyst Network of church alongside continuing connections to the Catalyst Hub of Churches.

Reference and Administrative details
Charity name Grace Church Wolverhampton
Other name the charity uses
Registered charity number 1174223
Charity’s principal address 61 Vicarage Road, Wednesfield, Wolverhampton, WV11 1SE
1
2
3
4		 Trustee name Office (if any) Dates acted if not for whole
year		 Name of person
(or body) entitled
to appoint
trustee (if any)
Matthieu Lambert Chair / Treasurer Elders
Denise Bellingham-
Young		 Elders
Drusilla Kwembe Safeguarding To November 2023 Elders
Stephen Morgan Staff welfare Elders

Name of chief executive or names of senior staff members (Optional information)

Mark Lloyd is the “Lead Elder” having the effective function of CEO.

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

Declarations

T he trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2019. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These accounts have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the charity’s trustees

Chair of Trustees – Matthieu Lambert – dated 1st January 2025

Matthieu Lambert 1[st] January 2025

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

Independent Examiners Report to the trustees of Grace Church Wolverhampton

on the accounts for the year to 31[st] August 2024 as set out on pages 10 – 16 in this document

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed

Independent examiner's statement

It is my responsibility to:

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in, any material respect, the requirements:

to prepare accounts that accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

Signed:

Mervyn Thomas

Dated: 09/09/2024

128 Putnoe Lane Bedford MK41 8LS

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

Statement of Financial Activity
Unrestricted
Restricted
Total this		 Total last
For the year ended 31st. August 2024 Notes funds funds year year
£ £ £ £
Incoming resources 3
Incoming resources from generated funds -
-
-		 -
Voluntary income 51,455
980
52,435		 53,375
Total incoming resources 51,455 980 52,435 53,375
Resources expended 4
Costs of Generating Funds 2,281
-
2,281		 1,332
Charitable activities 65,921
2,467
68,388		 73,603
Total resources expended 68,202 2,467 70,669 74,935
Net incoming/(outgoing) resources before
transfers (16,747)
(1,487)
(18,234)		 (21,560)
Gross transfers between funds 7 -
-
-		 -
Net movement in funds (16,748)
(1,487)
(18,234)		 (21,560)
Total funds brought forward 68,589
2,781
71,369		 92,929
Total funds carried forward 51,841 1,294 53,135 71,369
Balance Sheet
Unrestricted
Restricted
Total this		 Total last
For the year ended 31st. August 2024 Note funds funds year year
£
£
£		 £
Current assets
Debtors 5 7,907
-
7,907		 3,743
Cash at bank and in hand 44,140
1,294
45,434		 67,866
Total current assets 52,047 1,294 53,341 71,609
Creditors: amounts falling due within one
year 6 (206)
-
(206)		 (340)
Net assets less liabilities 51,841 1,294 53,135 71,269
Funds of the Charity
Unrestricted funds 51,841
-
51,841		 68,588
Restricted income funds 7 1,294
1,294		 2,781
Total funds 51,841 1,294 53,135 71,369

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

Approved by the Trustees and signed on their behalf.

Matthieu Lambert 1st January 2025

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

NOTES TO THE ACCOUNTS YEAR ENDED 31 August 2022

1 BASIS OF PREPARATION

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with:

The charity constitutes a public benefit entity as defined by FRS 102.

1.2 Going concern

The Charity is a going concern. Income generation through members’ donations is maintaining adequate reserves.

1.3 Change of accounting policy

The accounts present a true and fair view and the accounting policies adopted are those outlined in note 2.

1.4 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).

2 ACCOUNTING POLICIES

2.1 Income

Recognition of income

These are included in the Statement of Financial Activities (SoFA) when:

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants and donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).

There are no performance-related grants.

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

Legacies

Legacies are included in the SoFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.

Government grants

The charity has not received any government grants in the reporting period.

Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Contractual income and performance-related grants

This is only included in the SoFA once the charity has provided the related goods or services or met the performance-related conditions.

Donated goods

The charity has not received any goods in the reporting period considered to be of material value. No donated goods have been monetised.

Donated services and facilities

Donated services and facilities are included in the SoFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.

Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SoFA.

Support costs

The charity has not incurred expenditure on support costs.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the Trustees’ annual report.

Income from interest, royalties, and dividends

This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.

Income from membership subscriptions

No membership subscriptions are charged.

Settlement of insurance claims

Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP) and are included as an item of other income in the SoFA.

Investment gains and losses

Investment gains or losses in the year are recognized in the SoFA

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

2.2 Expenditure and liabilities

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Redundancy cost

The charity made no redundancy payments during the reporting period.

Deferred income

No material item of deferred income has been included in the accounts.

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts

Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date

Basic financial instruments

The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.

2.3 ASSETS

Tangible fixed assets for use by charity

These are capitalised if they can be used for more than one year, and cost at least £10,000 They are valued at cost except for land and buildings which are shown at the values at 31 December 2016.

The depreciation rates and methods used are below: Furniture and fittings 10% straight line Computers and equipment 33% straight line Buildings 0% straight line

Intangible fixed assets

The charity does not have intangible fixed assets, that is, non-monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

3 Analysis of income
Unrestricted Restricted
Total funds
Total funds
funds funds 2024 2023
Donations and legacies: £ £ £ £
Voluntary donations 43,417
980
44,397
45,797
Gift Aid 7,911
-
7,911
7,423
Interest 127
-		 127
155
Total Donations and legacies 51,455 980 52,435 53,375
4 Analysis of expenditure
Unrestricted Restricted
Total Funds
Total funds
funds funds 2024 2023
Expenditure on generating funds: £ £ £ £
Webpage 2,205
-
2,205
1,309
Publicity and printing 76
-
76
23
Total expenditure on generating funds 2,281 - 2,281 1,332
Expenditure on charitable activities -
Salaries and wages 37,789
-
37,789
46,996
Pensions 686
-
686
-
Travel, conferences 4,890
-
4,890
5,797
Office Expenses 4,385
-
4,385
4,238
property costs (rents) 6,910
-
6,910
6,683
Resources, Catering and cost of meetings 922
2,467
3,389
3,253
Pastoral and care for the needy 2,740
-
2,740
2,735
Ministry and Catalyst 7,069
-
7,069
3,354
Children 361
0
361
377
Governance (Independent Examiner) 170
-
170
170
Total expenditure on charitable activities 65,922 2,467 68,388 73,603
TOTAL EXPENDITURE 68,203 2,467
70,669		 74,935
5 Debtors and prepayments
Analysis of debtors Amounts falling due within one year
2024 2023
£ £
HMRC Gift Aid 7,907
3,743
Total 7,907 3,743

Grace Church Wolverhampton

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Grace Church, Wolverhampton Trustees Report and Financial Statements Year ended August 31st. 2024

Charity: 1174223 Company: 10905279

6 Creditors and accruals

Analysis of creditors Amounts falling due within one year
2024 2023
£ £
Accruals 50 50
Creditors 156 290
Total 206 570

7 FUNDS ANALYSIS

Movements of all funds summarised in the Statement of Financial Activities.

Fund Fund
balances balances
brought Incoming Outgoing carried
Fund Name forward resources resources Transfers forward
£ £ £ £ £
Church Unrestricted 68,589 51,455 (68,203) - 51,841
Soup Kitchen Restricted 2,781 980 (2,467) - 1,294
Total Funds 71,369 52,435 (70,669) - 53,135

8 Trustees Disclosures

In respect of expenses, Trustees have not received any expenses for their duties as trustees. There have been a number of reimbursements over the course of the financial year to all three trustees for direct expenditures on behalf of the charity in circumstances where it was simpler for the trustee to incur the expense and request reimbursement than arrange for the charity to make the initial payment.

Grace Church Wolverhampton

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