ANNUAL REPORT
For the Period Ending 30th June 2025
CHARITY NAME: The Grace Memorial Trust CIO REGISTRATION NUMBER: 1176868 REGISTERED ADDRESS: 21 Smithies Avenue, Sully, Vale of Glamorgan CF64 5SS TRUSTEES: Nigel Jones Caroline Jones Sarah Read Isabel Jones Elise Jones
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
Grants made during the period totalled £1,980 with cumulative grants since the CIO was established totalling £22,843.
Grants made during 2024/25 enabled grass roots support of homeless and vulnerable people, a guides group to provide opportunities for children in a deprived area of the UK and support to a family charity providing support and help to struggling families.
The endowment investment fund grew in value by 6.3% during the year.
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ANNUAL REPORT
For the Period Ending 30th June 2025
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 are 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 and procedures are in place to avoid conflicts of interest.
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 2024 to 30 June 2025
| Receipts and Payments Donations Gift Aid income Investment income Realised gains Total receipts Grants made Realised losses Investment fees Other costs 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 2024/25 TOTAL 2023/24 £ £ £ £ - - - 4,000 1,025 - 1,025 - - 2,740 2,740 1,813 - - - 393 1,025 2,740 3,765 6,206 -1,980 - -1,980 -3,100 - - -8,272 - -200 -200 -194 - - - - -1,980 -200 -2,180 -11,566 -955 2,540 1,585 -5,360 9,004 103,070 112,074 117,434 8,049 105,610 113,659 112,074 8,049 14,613 22,662 21,078 - 90,997 90,997 90,996 8,049 105,610 113,659 112,074 8,049 105,610 113,659 112,074 20,057 20,057 15,686 8,049 125,667 133,716 127,760 |
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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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