Grace Church Swansea
Trustees' Annual Report
Period from 1st January 2023 to 31st December 2023
Reference and administratve details
Registered charity name : Grace Church Swansea Charity registration number: 1174245 The Trustees:
Mr B Measday (Appointed 14 Aug 2017) Mrs C McCarthy-Reed (Appointed 14 Aug 2017) Mrs D Essery (Appointed 14 Aug 2017) Mr J Pike (Appointed 20 May2020) Mr B Farr (Appointed 20 May2020) Mrs G Ware (Appointed 15 Feb 2023)
Accountants:
Stephen Kent and Co, Chartered Accountants, 456 Gower Road, Killay, Swansea, SA2 7AL
Structure, Governance and Management
Grace Church Swansea is a Charitable Incorporated Organisation, registered in August 2017. Registered Charity Number: 1174245.
Grace Church Swansea leadership have responsibility for the recruitment and appointment of Trustees of the Charity. They are responsible for identifying potential individuals with appropriate ethos and skills for the position. This is then discussed with the existing appointed Trustees. A consensus must be found to appoint. All existing and new Trustees must agree with the Statement of Belief set out in our governing documents.
All newly appointed Trustees will undergo an orientation meeting with the Chair of the Trustees to brief them on their duties and responsibilities as a Trustee, the decision making processes and the current financial position of the
charity as set out in the latest published accounts. Trustees are encouraged to attend appropriate training events where these will help them carry out their roles and responsibilities effectively.
The Trustees fulfil their legal obligations on behalf of the Charity, aiming to meet at least four times a year.
Charity Trustees:
Byron Measday
Claire McCarthy-Reed
Donna Essery
Joshua Pike
Brian Farr
Gayle Ware
Church Leadership :
Byron Measday - Senior Leader
Sarah Measday
Emma Ball
Charlotte Whitcombe
Small Group Leadership:
Emma Ball
Charlotte Whitcombe
Adam McCarthy-Reed
Chloe Measday
Employees:
Chloe Measday
Objectves and actvites
Grace Church Swansea exists to welcome as many people as possible into Church community, in order for them to learn more about the Christian faith and become passionate followers of Jesus. We welcome people just as they are, no pretence, no masks, just real life - with all its mess and challenges.
Sunday Gatherings
For several years now we have been meeting at the local Scouts Hall, Clase, where we hire a weekly space on Sunday afternoons for us to come together for worship, teaching, friendship and support. These times are important for us to share vision and purpose with the church family and for us to keep learning and exploring more about the life Jesus has called us to live together.
Pleasingly, we were able to move into our newly refurbished Church building just in time to celebrate Christmas 2023.
Small Groups
In addition to meeting together on a Sunday, we also meet together weekly in each other’s homes. These meetings provide greater opportunities for us to get to know each other, to share life together, to stand side by side, to encourage and pray for one another. Together we explore the Bible and the teachings of Jesus in order that we feel equipped and empowered to follow Him in our daily lives.
New Church building renovaton
In February, we were successful in applying for a Welsh government grant of £300,000 which enabled us to start a tendering process to employ builders to transform our building. Once we employed CJ Construction, the project moved at pace and took 6 months to complete. This project was spearheaded by Gayle Ware, Chloe Measday and a small building team – without whose diligence and dedication to the project we would be nowhere.
We are very grateful to God for his provision every step of the way in obtaining the money and skills in order to transform the building for our community. We also obtained some smaller amounts from other funding pots in order to complete the project.
| Grant Funding received from: | Amount: |
|---|---|
| James Pantyfedwen | £8,000 |
| Community Facilites Grant – Welsh government | £300,000 |
| All Churches – Benefact trust | £6,750 |
| Clase4all | £42,170 |
| Total: £356,920 |
Social Gatherings
Relationships are really important to us at Grace Church. We want to share life with people, the good times and the challenging times. To encourage the development of great friendships we have regularly organised social times for church family and friends to come together to be able to talk and have fun. This year these have included men’s and ladies evenings, crafts sessions, talks, curries, breakfasts, a beach night, bowling, fundraising events and a conference or two.
Community Projects
Another important way of us building strong relationships is by serving together. Clase is an amazing community full of life and spirit. Being part of this community and serving the individuals and families that live there is central in our purposes and objectives as a Church. 2023 was full of activity and we were able to embrace being family together and serving the community we love, Clase.
Much of the planning of the following activities was led by our Community Development Worker, Chloe Measday. During the year Chloe has continued to build on the amazing community relationships already established, she has helped us to gather friends and family, to celebrate good times, to raise funds for charity and the church renovation project, and to service the local community. She has also headed up a great small team of volunteers, together making these things possible. A massive thank you to each and every one of you for giving up your time, using your gifts and talents, and coming together to bless others. Without you all, none of this would have been be possible.
We as a team have created space for conversations and relationships to form. We have seen many new people come along to our events, as well as regulars who really know us now and are excited to bring their family along. We have continued to do similar events to before, which we know work, and have tried to re-introduce them into the community after years of being restricted to do such events. We were all very excited to particularly run our Easter Messy Church and Egg Hunt event and it was yet again a great success and continues to be our most attended event.
We continued with Messy Church events throughout the year and our Coffee mornings. We also celebrated world events with the Community such as hosting a Coronation Party for the new King. These events all continue to bring out various community members. Many who have attended have given us great feedback throughout, unprompted, including they felt the events had a warm community feel, that their families had a lot of fun and that they were grateful for free activities on their doorsteps. We ran these events in the Church and in the Community Centre.
We continued with our kids group called G-Force. G-Force has been wonderful throughout the year with around 10 children attending weekly. We have seen amazing relationships also form with the parents of these children and those families are now all mostly regulars at every event we put on. Some of our children out grew the group this year as they started comp in the September.
The Church has also organised fundraising events to help raise funds for our building renovations. We did a Winter Fair and a Quiz, both in local community buildings.
Below is a table of community events we have run or supported throughout 2023.
| Date: | Event: | Organised by: |
Venue: | No of volunteers: | No of atendees: |
|---|---|---|---|---|---|
| Jan 5th | G-Force | GC | Church | 5 | |
| Feb 2nd | G-Force | GC | 5 | ||
| Feb 25th | Welsh Party | GC | Church | 5 | 20 |
| Mar 2nd | G-Force | GC | Church | 5 | |
| April 6th | G-Force | GC | Church | 5 | |
| April 8th | Easter Messy Church and Egg hunt |
GC | Community Centre/ Park/ Church |
9 | |
| May 4th | G-Force | GC | Church | 5 | |
| May 7th | Coronaton Party | GC | Church | 5 | 45 |
| Liter Pick | GC | Community | 2 | ||
| June 1st | G-Force | GC | Church | 5 | |
| July 6th | G-Force | GC | Community Centre |
5 | |
| Summer School | Clase Primary | Clase Primary | 4 | ||
| Summer School | Clase Primary | Clase Primary | 4 | ||
| Aug 4th | G-Force | GC | Community Centre |
4 | |
| Aug 19th | Messy Church - Zack | GC | Community Centre |
11 | |
| Oct 5th | G-Force | GC | Community Centre |
4 | 4 |
| Oct 14th | Liter pick | GC | Church | 2 | 5 |
| Oct 26th | G-Force light party | GC | Community Centre |
5 | 15 |
|---|---|---|---|---|---|
| Nov 18th | Fundraising event | GC | Community Centre |
8 | 120 |
| Dec 7th | G-Force | GC | Community Centre |
5 | 10 |
| Dec 2nd | Messy Church | GC | Community Centre |
16 | |
| Dec 5th | Fundraising Quiz | GC | Clase Club | 2 | 45 |
| Dec 13th | Church Meal | GC | Toby Carvery | 1 | 42 |
| Dec 18th | Carol Service | GC | Church | 5 | 35 |
Other actvites:
We have maintained excellent links within the community through supporting and volunteering within Clase. The Church has remained linked with all the local schools including: Clase primary, Pen-y-bryn, Bishop Vaughan Comprehensive and the newly built Tan-y-Lan. We let them know about events we have on to share with the community and vice versa. We also have links with some amazing local partners including Clase Community Cwtch family centre, Clase Community centre where we host many events, local shops and residents, our local community councillors and assembly member, housing associations, local area coordinators, Clase scouts, Christians against poverty, other local Churches and much more!
Financials:
For the period of January 2023 to December 2023, our accounts have been pre pared by Stephen Kent and Co, Chartered Accountants, Swansea.
During this period Grace Church Swansea, received a total of £17834 of donations towards its charitable purpose.
Grace Church Swansea continued to sponsor a little girl through Compassion, and made donations to, World Horizon Uk, and Christian Aid, giving a total of £967 towards these charities for 2023.
We spent £8704.46 on salary cost. The part time role of 16hrs a week, for community development work during this period. This role is key to the Churches Vision for the future, to maintain and develop key community relationships within the area.
The Church received a total of £356920 of grants for the refurbishment of the church building, of which an additional £22268 was used of existing church funds, with a total of £379188 spent on the churches refurbishment of the building.
At the end of the financial period, 31st December 2023, the balance was £18425 of funds to carry forward into the next financial year, all funds are currently unrestricted.
Byron Measday
Chair of Trustees
Registered Charity Number.. 1174245 Grace Church Swansea Unaudrted Financial Statements Foi the year ended 31 December 2023
Grace Church Swansea Accountants & Business Advisors Report to Grace Church Swansea on the Unaudited Financial Information of Gra Church Swansea For the year ended 31 December 2023 As described on the slalemsnt of financial position, the trustees ol the charity are responsib for the pleparalion ol the financial statenIS for the period ended 31 December 2023, whh cornpii8e the slalemenl of financial a¢livilies, slalemenl of financial posilion and the related note5. You consider that the charity is exempl from an audit under the Charities Ad 2011. In accordance wlh your instructions we have compiled these financial stslernents in order lo assist you lo lullil or stalulory responsibilities, from the accoLFnling records and from inlormalion and explanations supplied lo us. Stephen Kent alld Company Lid 456 Gower Road Swansea SA2 7AL
Grace Church Swansea Statement of Financial Activities As at 31 December 2023 2023 2022 Total Funds Unrestricted Funds Total Funds Income and endowment8 Donations and legacies 17 Totsl Income Expenditure Expendilure on raising funds-. Costs Of iaising donations and leg8cies Expenditure on charitable activities Total expenditure 967 967 408 Other operating incorne 194 19 Net lexpendlturellincomp and net movemont In funds Reconciliation of funds Total funds brought forward Total funds carrled fopNard The slalernenl of financial aclivilies includes all gains and kjsses rpcognised In the year. All income and expendrture derwe from continuing a¢livilies.
Grace Church Swansea Statement of Financial Position As at 31 Dember 2023 2023 2022 Fixed assets Tangible fixed assets 26,468 5,800 Current assets Cash at bank and in hat 18,425 35,700 Credltors: amounts falling due wllhln one year 11,485) {1.C63} Net Gurrent assets Total a55Pt5 leBS Current Ilabllltl•s Funds of the charlty Unreslitcled funds 43 408 Total charity lunds These ffinancial statements were approved by the board of liustees and aulhorised for issue on .ASo&1.2Vand are signed on behalf ol the Ly)ard by.. Gayie Ware Treasurer
Grace Church Swansea Notes lo Ihe Financial Staternents For the year ended 31 December 2023 1. General infornialion The charity is a public benefit enlily and 8 registered charity in England and Wates and is unincorporated. The address of the principal ofli¢e is 46 Rhodfa'r Eos, CwmrhydyCei, Swansea, SA6 6SW. z. ststement of compllancg These linanGial slalemenls have been ppared in complianee with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommende(I Practice applicable to charities preparing their accounls in accordance with the Financial Report19 Standard appli¢able in the UK and Republic of Ireland IFRS 1021 Icharilies SORP {FRS 102)) and th8 Charities Act 2011. 3. Accounting policles Basis ol proparation The finsncial statements have been prepared on the historical cost t*£SiS. as modified by the revaluation ol cerlain financial assets and liabilities and investment properties mèasured al fair v81ue through income and expenditUTe. The financial slalements are prepared in sterling, which is the functitsnal currency of the entity. Golng concern There are no material uncertairities about the charity's ability lo continue. Judg•ments and kgy sources of estimalion uncertainty The preparation ol the financial ststements iequires managernenl to make judgements, estimales and assumptions Ihal affect the armunls reported. These estimates and judgements are eonlinually reviewed and are based on experience and other factors. inciu¢Jing expeclab'ons of future ents that are believecj lo be reasonable under the clrcumst8nces. Fund accountlng Unreslricled funds are available lor use al the discretion ol the Iruslees lo further any of the charity's purposes. Incomlng rgsources All incoming fesources ale included in the statement of financial activities when entitlement has passed lo the charity., il Is probable that the economic beneh"Is associaleil with the transaction will flow lo the charity and the amount can be reliably mezsured. The lollowing Speci poliaes are applied lo particular categories of income., 1me from donations or grants is rewgn&sed when there is evidence of enlillemenl lo the gift, receipl Is probable and its amount can be measured reli8bly.
Glace Church Swansea Notes lo the Financial Statements For the year ended 31 Dember 2023 Legacy income is recognised when receipt probablè and enlillemenl is established. Income from donated goods 1$ measured al me fair value of the goods unless this is impraolical to ffEasure reliably, in which case the value is derived from the eosl lo the donor or Ihe esb"maled resak v?lue. Donated lacilitie5 and services ale recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the conliibubon of general volunteers. Income from conlracls for the supply of $eNi¢es 1$ recognised wilh the deh'very of the tonlracled service. This is elassified 8s uniestricted fvnds unless there is a contractual requirement for it lo be spent on a partular purwse and ielurned if unspent, in which case il may be regarded as reslrfcled. Rèsources expended Expenditure 15 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 slatement of financial actlvities to which It relates.. Expenditure on raising funds includes the costs of all fundralslng actlvities, events, non-charitable tiading activities, and the sale of donated ¢$. Expenditure on charitable activitles Includes all costs incurred by a charity in undertaking activities that further its charitable aims tor the benefit of its beneficiaries, including those support Costs and costs relatlng to the govemance of the charity apportioned to charitable activities. Other expenditure includes all expenditure that is neither related lo raising fund5 for the charity nor part of its expenditure on charitable activities. All costs are allocaied to expenditure categories Teflecting the use of the resource. Direcl costs attributable to a single activity are allocated dlrectly to that activity. Shared costs ale apporlloned between the activities they contribute to on a reasonable. justifiable and consistent basis. 4. Trustee remuneratlon and expenses No remuneration orother benefits from empbyment with the charity or a related entlty were received by the trustees.
Grace Church Swansea Notes to the Finar¢ial Statements For The Year Ended 31 December 2023 l. General Information Grace Churth Swansea Is a public benefjt entity and a registered chèrity In Englond and Wales and Is MinCor[3ted. The reyistered orrice is 46 Rhodfa'r Eos, CwmrhydycÈlrw, Swansea, SA6 65W. 2. Aceounting ptsli<i¢$ 2. 1. Basls of Preparatlon of Flnanrial Statemenls The priTheiple ac£ountSn9 pollcie5 ale summarlsed below. They hove been èppllej con515tenUy through)ut thls year and 2.2. Tanplble Fixed As¥ets and DeprÈtlbt5on Tamgible flxed a5seis are measured at ctyst less accumulated depreciation and any accumulated impèimienl losses. Depreciation Is prevlded at rates talculated to wrlte off the cost of the fixed a5set5, less their estlmated ldal value. tsver their expECted uful lfves on the fDllobYing tyos'. Fixtures & Flttings 20% SL 3. Tan9lble Assets Lond & Property Lsehold Flxtyres & ttSng5 Tot•1 As at i January 2023 AdditvJns 8.000 8,000 22.268 22,268 As at 31 December 2023 22.268 8,000 30,268 Depre¢latlon t l January 2023 Provided dun9 the period 2,200 1,600 2.200 1.600 A5 at 31 December 2023 3,800 3,800 Net Book Val¥¢ A5 at 31 December 2023 22,256 4,200 26,468 As ai i Jarbuary 2023 5,800 5,800 Durfng the year the ch8rily received 9rant incDrn2 of £356,920 in respect ol the leasehold prOrtY. The charity expended É379,188 on irnproving the property. The excess of expenditure amountln9 to £22,268 has been shown as Leasehold Property Ad(JitlQll5. PagE 6
Graee Church Swanse Trading Income Statement For The Year Ended 31 December 2Q23 2013 2022 TURNOVER Donations GROSS PROFIT 17,834 17,834 11,546 11.546 Admlnlstratlve Expefvses Wa9es and salarie5 Employe¥s pensions Staff tralnlng Rent Llght and heat Water rates Repairs. renewals and maintenance InsUnCe vertising and markering costs Community Events Tdephone & Internet Accauntanry fees Legal & Pmfessfjonal fees Bank charye5 Ch)ritabte dol)n5 Other office c05t5 Deprerlètion of flxtures and fittings Sundry exPereS 8.790 120 182 8.495 120 400 12,7401 {5551 301 2,221 1,860 67 2,079 82 514 90 422 2,948 65 423 170 150 967 135 1,600 408 173 1,600 (15,0571 117,127) OPERATING PIIOFITIILOSSI 2,777 5,581) Other Interest recelv•ble and $imllar Income Bank terest recelvable 194 19 194 19 PROFITIILOSSI POR TME FINANCIAL YEAR 2,971 15.562 Page 7
Registered Charity Number.. 1174245 Grace Church Swansea Unaudrted Financial Statements Foi the year ended 31 December 2023
Grace Church Swansea Accountants & Business Advisors Report to Grace Church Swansea on the Unaudited Financial Information of Gra Church Swansea For the year ended 31 December 2023 As described on the slalemsnt of financial position, the trustees ol the charity are responsib for the pleparalion ol the financial statenIS for the period ended 31 December 2023, whh cornpii8e the slalemenl of financial a¢livilies, slalemenl of financial posilion and the related note5. You consider that the charity is exempl from an audit under the Charities Ad 2011. In accordance wlh your instructions we have compiled these financial stslernents in order lo assist you lo lullil or stalulory responsibilities, from the accoLFnling records and from inlormalion and explanations supplied lo us. Stephen Kent alld Company Lid 456 Gower Road Swansea SA2 7AL
Grace Church Swansea Statement of Financial Activities As at 31 December 2023 2023 2022 Total Funds Unrestricted Funds Total Funds Income and endowment8 Donations and legacies 17 Totsl Income Expenditure Expendilure on raising funds-. Costs Of iaising donations and leg8cies Expenditure on charitable activities Total expenditure 967 967 408 Other operating incorne 194 19 Net lexpendlturellincomp and net movemont In funds Reconciliation of funds Total funds brought forward Total funds carrled fopNard The slalernenl of financial aclivilies includes all gains and kjsses rpcognised In the year. All income and expendrture derwe from continuing a¢livilies.
Grace Church Swansea Statement of Financial Position As at 31 Dember 2023 2023 2022 Fixed assets Tangible fixed assets 26,468 5,800 Current assets Cash at bank and in hat 18,425 35,700 Credltors: amounts falling due wllhln one year 11,485) {1.C63} Net Gurrent assets Total a55Pt5 leBS Current Ilabllltl•s Funds of the charlty Unreslitcled funds 43 408 Total charity lunds These ffinancial statements were approved by the board of liustees and aulhorised for issue on .ASo&1.2Vand are signed on behalf ol the Ly)ard by.. Gayie Ware Treasurer
Grace Church Swansea Notes lo Ihe Financial Staternents For the year ended 31 December 2023 1. General infornialion The charity is a public benefit enlily and 8 registered charity in England and Wates and is unincorporated. The address of the principal ofli¢e is 46 Rhodfa'r Eos, CwmrhydyCei, Swansea, SA6 6SW. z. ststement of compllancg These linanGial slalemenls have been ppared in complianee with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommende(I Practice applicable to charities preparing their accounls in accordance with the Financial Report19 Standard appli¢able in the UK and Republic of Ireland IFRS 1021 Icharilies SORP {FRS 102)) and th8 Charities Act 2011. 3. Accounting policles Basis ol proparation The finsncial statements have been prepared on the historical cost t*£SiS. as modified by the revaluation ol cerlain financial assets and liabilities and investment properties mèasured al fair v81ue through income and expenditUTe. The financial slalements are prepared in sterling, which is the functitsnal currency of the entity. Golng concern There are no material uncertairities about the charity's ability lo continue. Judg•ments and kgy sources of estimalion uncertainty The preparation ol the financial ststements iequires managernenl to make judgements, estimales and assumptions Ihal affect the armunls reported. These estimates and judgements are eonlinually reviewed and are based on experience and other factors. inciu¢Jing expeclab'ons of future ents that are believecj lo be reasonable under the clrcumst8nces. Fund accountlng Unreslricled funds are available lor use al the discretion ol the Iruslees lo further any of the charity's purposes. Incomlng rgsources All incoming fesources ale included in the statement of financial activities when entitlement has passed lo the charity., il Is probable that the economic beneh"Is associaleil with the transaction will flow lo the charity and the amount can be reliably mezsured. The lollowing Speci poliaes are applied lo particular categories of income., 1me from donations or grants is rewgn&sed when there is evidence of enlillemenl lo the gift, receipl Is probable and its amount can be measured reli8bly.
Glace Church Swansea Notes lo the Financial Statements For the year ended 31 Dember 2023 Legacy income is recognised when receipt probablè and enlillemenl is established. Income from donated goods 1$ measured al me fair value of the goods unless this is impraolical to ffEasure reliably, in which case the value is derived from the eosl lo the donor or Ihe esb"maled resak v?lue. Donated lacilitie5 and services ale recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the conliibubon of general volunteers. Income from conlracls for the supply of $eNi¢es 1$ recognised wilh the deh'very of the tonlracled service. This is elassified 8s uniestricted fvnds unless there is a contractual requirement for it lo be spent on a partular purwse and ielurned if unspent, in which case il may be regarded as reslrfcled. Rèsources expended Expenditure 15 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 slatement of financial actlvities to which It relates.. Expenditure on raising funds includes the costs of all fundralslng actlvities, events, non-charitable tiading activities, and the sale of donated ¢$. Expenditure on charitable activitles Includes all costs incurred by a charity in undertaking activities that further its charitable aims tor the benefit of its beneficiaries, including those support Costs and costs relatlng to the govemance of the charity apportioned to charitable activities. Other expenditure includes all expenditure that is neither related lo raising fund5 for the charity nor part of its expenditure on charitable activities. All costs are allocaied to expenditure categories Teflecting the use of the resource. Direcl costs attributable to a single activity are allocated dlrectly to that activity. Shared costs ale apporlloned between the activities they contribute to on a reasonable. justifiable and consistent basis. 4. Trustee remuneratlon and expenses No remuneration orother benefits from empbyment with the charity or a related entlty were received by the trustees.
Grace Church Swansea Notes to the Finar¢ial Statements For The Year Ended 31 December 2023 l. General Information Grace Churth Swansea Is a public benefjt entity and a registered chèrity In Englond and Wales and Is MinCor[3ted. The reyistered orrice is 46 Rhodfa'r Eos, CwmrhydycÈlrw, Swansea, SA6 65W. 2. Aceounting ptsli<i¢$ 2. 1. Basls of Preparatlon of Flnanrial Statemenls The priTheiple ac£ountSn9 pollcie5 ale summarlsed below. They hove been èppllej con515tenUy through)ut thls year and 2.2. Tanplble Fixed As¥ets and DeprÈtlbt5on Tamgible flxed a5seis are measured at ctyst less accumulated depreciation and any accumulated impèimienl losses. Depreciation Is prevlded at rates talculated to wrlte off the cost of the fixed a5set5, less their estlmated ldal value. tsver their expECted uful lfves on the fDllobYing tyos'. Fixtures & Flttings 20% SL 3. Tan9lble Assets Lond & Property Lsehold Flxtyres & ttSng5 Tot•1 As at i January 2023 AdditvJns 8.000 8,000 22.268 22,268 As at 31 December 2023 22.268 8,000 30,268 Depre¢latlon t l January 2023 Provided dun9 the period 2,200 1,600 2.200 1.600 A5 at 31 December 2023 3,800 3,800 Net Book Val¥¢ A5 at 31 December 2023 22,256 4,200 26,468 As ai i Jarbuary 2023 5,800 5,800 Durfng the year the ch8rily received 9rant incDrn2 of £356,920 in respect ol the leasehold prOrtY. The charity expended É379,188 on irnproving the property. The excess of expenditure amountln9 to £22,268 has been shown as Leasehold Property Ad(JitlQll5. PagE 6
Graee Church Swanse Trading Income Statement For The Year Ended 31 December 2Q23 2013 2022 TURNOVER Donations GROSS PROFIT 17,834 17,834 11,546 11.546 Admlnlstratlve Expefvses Wa9es and salarie5 Employe¥s pensions Staff tralnlng Rent Llght and heat Water rates Repairs. renewals and maintenance InsUnCe vertising and markering costs Community Events Tdephone & Internet Accauntanry fees Legal & Pmfessfjonal fees Bank charye5 Ch)ritabte dol)n5 Other office c05t5 Deprerlètion of flxtures and fittings Sundry exPereS 8.790 120 182 8.495 120 400 12,7401 {5551 301 2,221 1,860 67 2,079 82 514 90 422 2,948 65 423 170 150 967 135 1,600 408 173 1,600 (15,0571 117,127) OPERATING PIIOFITIILOSSI 2,777 5,581) Other Interest recelv•ble and $imllar Income Bank terest recelvable 194 19 194 19 PROFITIILOSSI POR TME FINANCIAL YEAR 2,971 15.562 Page 7