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2021-06-30-accounts

ANNUAL REPORT

For the Period Ending 30th June 2021

CHARITY NAME: The Grace Memorial Trust CIO REGISTRATION NUMBER: 1176868 REGISTERED ADDRESS: 21 Bylanes Close, Cuckfield, West Sussex, RH17 5HB. TRUSTEES: Nigel Jones Caroline Jones Sarah Read

STRUCTURE AND MANAGEMENT

The CIO has no full time employees and is managed on a voluntary basis by its Trustees who manage the CIO in accordance with its Constitution.

OBJECTIVES AND ACTIVITIES

The CIO was established to receive and manage an endowment made by Derrek and Sylvia Jones.

The objectives of the CIO are

the advancement of the Christian religion

the prevention and relief of poverty

the relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage

the advancement of education in the Christian faith

for the public benefit by making grants to individuals and organsiations.

ACHIEVEMENTS AND PERFORMANCE

The CIO was established on 25 January 2017 and the investing of the endowment fund was completed during 2019/20.

Grants made during the period totalled £1,396 to organisations involved in disater relief internationally, supporting the homeless and providing Christian support and counselling to parents.

The value of investments has recovered since the start of the Covid 19 pandemic and the Trustees have transferred an additional amount from the endowment fund to the unrestricted fund which means that the transfers from the endowment fund since July 2019 are now in line with the long term target.

As a result, the Trustees will be looking to make additional grants during 2021/22.

GRANT MAKING POLICY

The CIO has a Grant making policy in place. Grants can be made to institutions or individuals in furtherance of the objectives of the CIO. Decisions on grants to Charities will be made by the Trustees collectively in accordance with the voting procedures noted in the constitution of the CIO. The Trustees may delegate the decision to make smaller grants to 2 or more Trustees.

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ANNUAL REPORT

For the Period Ending 30th June 2021

INVESTMENT POLICY

The CIO has an investment policy which details permitted investments. The investment objective is to achieve a return of 3% above inflation over a 5 year period, with returns in excess of inflation being distributed to the Unrestricted Fund.

RESERVES POLICY

Grants are made from investment income received, realised investment gains and donations received and the CIO has very low ongoing cost commitments. The Trustees consider the risks of the Charity needing to call on reserves are negligible. Consequently the Trustees have not set a minimum reserve limit.

INDEPENDENT EXAMINATION

The Trustees of the CIO have elected to not commission and Independent Examination this year as the income of the CIO was below £25,000.

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Receipts and payments accounts For the period from 1 July 2020 to 30 June 2021

Receipts and Payments
Donations
Gift Aid income
Investment income
Realised gains
Other income
Transfer from endowment fund
Total receipts
Grants made
Investment fees
Transfer from endowment fund
Total payments
Receipts less payments
Opening balance
Closing balance
Statement of Assets and Liabilities
At cost
Current account
Investments
TOTAL
Current value:
Value at cost
Unrealised gains
Net assets at market value		 Unrestricted
funds
Endowment
fund
TOTAL
2020/21
TOTAL
2019/20
£
£
£
£
1,676
-
1,676
2,141
-
-
-
-
-
1,144
1,144
1,484
-
16
16
4
-
-
-
-
5,399
5,399
-
7,075
1,159
8,234
3,629
-1,396
-
-1,396
-1,977
-
-246
-246
-245
-5,399
-5,399
0
-1,396
-5,645
-7,041
-2,222
5,679
-4,486
1,193
1,407
4,706
109,887
114,593
113,186
10,385
105,401
115,786
114,593
10,385
5,890
16,275
14,853
-
99,510
99,510
99,740
10,385
105,401
115,786
114,593
10,385
105,401
115,786
114,593
14,558
14,558
433
10,385
119,959
130,344
115,027

NOTES

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