## **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**
- **1** The CIO invests an Endowment Fund into collective investment schemes authorised and regulated in the UK. The investment objective is to generate a return of 3% above the rate of UK CPI inflation over a 5 year period. Any returns above CPI inflation will be transferred gradually to the unrestricted fund and distributed in accordance with the objectives of the CIO.
- **2** The CIO also raises donations for distribution in accordance with the objectives of the CIO.
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