REGISTERED COMPANY NUMBER: 11595189 (England and Wales) REGISTERED CHARITY NUMBER: 1180195 UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 FOR GRACE COMMUNITY CHURCH BEDFORD Haines Watts First Floor, Woburn Court 2 Railton Road Woburn Rd Ind Est Kempston Bedfordshire MK42 7PN
Grace Community Church Annual Reports- Year Ended 31/March/2025 CONTENTS OF THE FINANCIAL STATEMENTS Page Reference and Administrative Details Report of the Trustees Independent Examiner's Report Balance Sheet Statement of Financial Activities Cash Flow Statement Notes to the Financial Statements
Grace Community Church Annual Reports- Year Ended 31/March/2025 REFERENCE AND ADMINISTRATIVE DETAILS TRUSTEES O Alade B Alade R J Evans D A Parish JPutt M Salter REGISTERED OFFICE 229 Bedford Road Kempston Bedford Bedfordshire MK42 8DA REGISTERED COMPANY NUMBER 11595189 (England and Wales) REGISTERED CHARITY NUMBER 1180195 INDEPENDENT EXAMINER HW Bedford Limited First Floor, Woburn Court 2 Railton Road Woburn Rd Ind Est Kempston Bedfordshire MK42 7PN Pagel I
Grace Community Church Annual Reports- Year Ended 31/March/2025 REPORT OF THE TRUSTEES The 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 31st March 2025. 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 the Republic of Ireland (FRS 102) (effective l January 2019). OBJEcfivES AND ACTIVITIES Objectives and aims The Church exists to promote the Christian faith directly in its immediate community or indirectly further afield through partnership with similar churches and organisations. The Church meets regularly to worship God for who He is, and to thank Him for all He has done for us. We have always had a strong emphasis upon teaching the Bible, and our leaders are committed to explaining the Bible in a way that is contemporary, accurate and relevant. We review all our meetings on regular basis to ensure they remain accessible, helpful and clear. Belief in Jesus restores our relationship with God and helps improve our relationships with others. We aim to show this through love and commitment within the church and by serving our wider community, focusing especially on caring for those who are poor, needy, or vulnerable. Both individual members and the church as a whole are dedicated to this mission. The Trustees and Officers regularly review activities to meet these goals. The Church's Mission Statement is: To know Jesus and to make Jesus known. Its core values are commitment, compassion, and courage. Public Benefits Statement The church schedules regular Sunday services (both morning and evening), along with midweek meetings focused on worship, teaching, and prayer. These activities are open to everyone and are intended to explain the Christian faith and the principles of the Gospel. The church offers several groups for families that meet either on Sunday mornings during the service or during the week in term-time. These groups provide Bible instruction and activities tailored to different age ranges. The church maintains a safe and welcoming setting for young people who attend. Throughout the year, "Explore" courses are offered to those who wish to learn more about the Christian faith, ask questions, and explore spiritual matters in a welcoming and open environment. The church organises various activities aimed at serving the community in Kempston and Bedford: In partnership with Christians Against Poverty, the church provides practical assistance for individuals facing financial challenges. The church hosts a monthly lunch for seniors, offering free meals, opportunities for social interaction, and a brief gospel presentation. In collaboration with the Trussell Trust, the church operates a Foodbank distribution centre. The church facilitates groups for men and women who may be isolated and seeking support. participation is free and open to Financial review The Church relies on donations for 98% of its income, sourced from members and the local community. Unrestricted income increased to £613,140 (2023/24: £513,023), plus £22,949 (2023/24: £11,050) of other unrestricted income, totalling £636,089 (2023/24: £524,073). Unrestricted fund expenses rose to £553,241 (2023/24: £519,480). After transfers, the general unrestricted reserve was £131,059 at year end. Plans for Future Periods We appreciate our volunteers and staff and look forward to continuing our work In Bedford and nearby areas. We hope our application to build a centre on donated land is approved. This space will serve Church meetings, host community activities, and be available for other local groups to benefit the Kempston and Bedford communities. Pagel 2
Grace Community Church Annual Reports- Year Ended 31/March/2025 STRUCTURE GOVERNANCE AND MANAGEMENT Appointment of Officers and Trustees The Church maintains that its officers, including Elders and Deacons, are selected by divine guidance for their respective roles, with such appointments acknowledged collectively by the congregation. Consequently, officers must be Church members and are appointed by fellow members during designated meetings. These positions of elders and deacons are typically held for an indefinite period. Occasionally, officers may depart from the Church or reprioritise personal commitments, leading to resignation from leadership positions. Any subsequent changes in officers are determined by Church members at specially convened meetings. In accordance with the Memorandum and Articles of Association, certain officers may also serve as Trustees and Directors. Governance of the Church is entrusted to a Trustee board, which must comprise a majority of elders and a minority of paid Trustees, whether employed or otherwise. For the year ended 31 March 2025, the Trustee composition was as follows: M. Salter- Elder and paid employee J. Putt- Elder and paid employee C. Atkinson - Elder and paid employee B. Alade- Deacon and unpaid volunteer O. Alade- Deacon and unpaid volunteer C. Almond- Elder and unpaid volunteer (resigned January 2025) D. Parish - Deacon and unpaid volunteer R. Evans- Elder and unpaid volunteer To foster ongoing development, the Charity recognises the advantages of limited terms for Trustees" accordingly, every two years, two- thirds of Trustees retire and are succeeded by new appointees. Other employees In 2024/25, the Church employed a total of 14 staff members, consisting of 7 full-time and 7 part-time employees (excluding Trustees). Among these, five served as Elders. The other staff members were responsible for providing family care, supporting vulnerable and needy individuals, and handling administrative tasks. Reserves policies At the end of the year, the Church reserve was £131,059 (compared to £94,292 in 2024). This fund is allocated to support future ministry needs, cover emergencies, and address any decrease in giving that may occur over a six-month period. Investment policy The Church does not maintain long-term surplus funds, and any bank balances exceeding working capital are placed in deposit accounts approved by the Trustees. No formal investment policy is currently in place. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the . 2025 and signed on the board's behalf by: mp ny directors, on Christopher Atkinson - Trustee Chair Pagel 3
Grace Community Church Annual Reports- Year Ended 31/March/2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRACE COMMUNITY CHURCH BEDFORD Independent examiner's report to the trustees of Grace Community Church Bedford ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2025. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act- or the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appliable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Alberto Di Lorenzo FCA HW Bedford Limited First Floor, Woburn Court 2 Railton Road Woburn Rd Ind Est Kempston Bedfordshire MK42 7PN Date:............................................. Pagel 4
Grace Community Church Annual Reports-year Ended 31/March/2025 BAIANCE SHEET- At 31/March/2025 Fund Type Designated Unrestricted Restricted Total 2025 Total 2024 Notes FIXED ASSETS Tangible assets 12,997 12,997 2,363 CURRENT ASSETS Debtors Cash at bank 10,667 108,461 119,128 103 10,770 202,196 212,966 15,230 247,322 262,552 50,991 51,094 42,744 42,744 CREDITORS Amounts falling due within one year NET CURRENT ASSETS (1,066) 118,062 (840) 50,254 (4, 160) 38,584 (6,066) 206,900 (76,590) 185,962 NET ASSETS FUNDS Unrestricted funds Restricted funds Designated funds TOTAL FUNDS 131,059 50,254 38,584 219,897 188,325 131,059 50,254 38,584 94,292 64,220 29,813 219.897 188,325 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for: ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The financial statements were approved by the Board of Trustees and authorised for issue on ..-..-.-......-.-........ and by: signed on its behalf opher Atkinson - Trustee Chair Pagel 5
Grace Community Church Annual Reports- Year Ended 31/March/2025 STATEMENT OF FINANCIAL ACTIVITIES Fund Type Designated Unrestricted Restrirted Total 2025 Tota I 2024 Notes INCOME FROM Donations and legacios 636,089 52,238 688,327 597,168 EXPENDITURE ON Direct charitable expenditure Support costs Total expenditure Net Income/(Expenditure) Before Transfers 532,706 20,535 553,241 66,204 37,310 636,220 20,535 656,755 634,083 25,534 i 659,617 66,204 37,310 82,848 (13,966) (37,310) 31,572 (62,449) Transfers between funds Net Income/(Expenditure) (46,081) 36,767 46,081 8,771 (13,966) 31,572 (62,449) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 94,292 131,059 64,220 50,254 29,813 38,584 188,325 219,897 250,774 188,325 CASH FLOW STATEMENT Cash flows from operating activities 2025 2024 Net Income/(Expenditure) for the reporting period (As per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest receivable (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operating activities 31,572 (62,449) 887 {3,885) 4,460 (70,524) (37,490) 1,575 (3,508) (98) 66,108 1,628 Cash flows from investing activities Purchase of tangible fixed assets Investment income Net cash provided by/(used in) investing activities (11,521) 3,885 (7,636) (2,351) 3,508 1,157 Change in cash and cash equivalents in the reporting period Opening balance Closing Balance {45,126) 247,322 202,196 2,785 244,537 247,322 Pagel 6
Grace Community Church Annual Reports- Year Ended 31/March/2025 NOTES TO THE FINANCIAL STATEMENTS Statutor Information: Grace Community Church Bedford is a charity registered in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page I of these financial statements. The nature of the charitvs operations and principal activities are stated on page 2. Accountin Policies: Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102) '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 I January 2019),, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is entitled to the income, performance conditions are met, amounts can be measured reliably, and receipt is probable. Donations are recognised once the charity is notified of the amount and settlement date in writing. If donations have conditions requiring performance, income is deferred until those conditions are met or under the charity's control and likely to be fulfil led. Tangible fixed assets Fixed assets are recorded at their original purchase cost and are subject to depreciation over time. Office equipment typically depreciates at an annual rate of approximately 25%. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds are available for use towards the charity's objectives at the trustees, discretion. Designated funds are allocated by the trustees from unrestricted funds to support specific anticipated expenditures of the charity. Restricted funds must be used for particular purposes within the charity's objectives. These restrictions are set either by the donor or when funds are raised for defined purposes. Tan ible Fixed Assets: Office Equipment Additions 11,521 887 COST Opening 56,357 53,994 Closing 67,878 54,881 DEPRECIATION NET BOOKVALUE 2,363 10,634 12,997 Debtors: Amounts Fallin Due Within One Year: Loans outstanding Income tax recoverable- gift aid Prepayments Other debtors 2025 930 8,185 1,617 38 2024 930 7,435 6,865 Total Debtors 10,770 15,230 Creditors: Amounts Fallin Due Within One Year: Deferred grants Accrued expenses Other creditors 2025 2024 5,000 71,472 118 5,969 97 Total Creditors 6,066 76,590 Pagel 7
Grace Community Church Annual Reports- Year Ended 31/March/2025 Movement in Funds: 2024 Income Unrestricted funds General fund Restrirted funds Training fund Building fund Needy Persons fund Other funds Total Restricted Funds Designated funds Tithe fund Expenditure Transfers 2025 94,292 636,089 (553,241) (46,081) 131,059 43,629 5,356 14,885 350 64,220 16,250 33,682 925 1,381 52,238 (24,924) (36,030) 15,070) (180) (66,204) 34,955 3,008 10,740 1,551 50,254 29,813 {37,310) (656,755) 46,081 38,584 TOTAL FUNDS 188,325 2023 688,327 Income 219,897 2024 Unrestricted funds General fund Restritted funds Training fund Building fund Needy Persons fund Other funds Total Restricted Funds Designated funds Tithe fund Expenditure Transfers 115,351 524,073 (519,480) {25,652) 94,292 36,645 9,148 24,013 5,326 75,132 12,499 55,420 455 (5,515) (59,212) (9,583) (11,279) (85,589) 43,629 5,356 14,885 350 64,220 4,721 73,095 1,582 1,582 60,291 {54,548) (659,617) 24,070 29,813 188,325 TOTAL FUNDS 250,774 597,168 The expenses paid out of the various funds are explained below: Designated Tithe Funds Tithe Fund Previous Year, unrestricted donation income 2025 2024 38,584 558,855 46,081 586,118 7.9% Restricted Building Funds During the current financial year, donations amounted to £33,681 and expenses totalled £36,030. Restricted Training Funds Training costs cover compensation, course fees, travel, and materials. Last year, one trainee completed in summer and another began in September. Donations and Le acies Fund Type Designated Unrestricted Restricted Total 2025 129,084 429,005 107,289 12,949 10,000 Total 2024 86,427 399,753 99,938 11,050 Ordinary donations Income from gift Aid donations Gift aid Other Income Legacies 88,209 419,915 105,016 12,949 10,000 40,875 9,090 2,273 Total Donations and legacies 636,089 52,238 688,327 597,168 Pagel S
Grace Community Church Annual Reports- Year Ended 31/March/2025 Direct Charitable Ex enditure: Staff Costs: Salaries Employer's national insurance Employer's pension contributions Total Staff Cost 2025 367,875 29,891 27,492 2024 316,896 24,704 24,006 365,606 425,258 No employees received emoluments in excess of £60,000. Trustees, Remuneration and Benefits: Dr Martin Salter, Jon Putt (appointed 18 March 2024), and Christopher Atkinson served as Church Elders and Trustees this year. Their total remuneration, including employer Nl and pension contributions, was £166,482 (2024: £157,663). Trustees acting as Elders incur reimbursable costs for the Church, but no expenses are incurred for their Trustee duties. Elders, and Deacons, Costs- Including Training: Training costs General costs Elders, book allowance Total Elders and Deacons 2025 8,028 3,695 803 2024 7,006 6,434 697 12,526 14,137 Remaining Charitable Expenditure: Members & visitors cost Facilities & catering costs Costs of other outreach events Publicity & Communications Donations & grants Planning & development costs Total remaining charitable expenditure Total Direct Charitable Expenditure 9. Su ort Costs: 2025 2024 16,714 52,505 7,375 56,614 32,547 21,473 28,876 19,966 44,345 77,119 59,212 254,340 36,030 198,436 636,220 634,083 Professional Fees & Subscriptions: Subscriptions Accountancy Payroll fees Other Professional costs Total Professional Fees & Subscriptions 2025 4,084 2,491 1,491 6,272 2024 9,829 2,490 1,201 232 14,338 13,752 Examiner fees of £850 (2024: £850) are reported under accountancy costs, and are classified as governance costs. Remaining Support Charges: Bank charges Equipment, insurance & depreciation Total remaining support charges 2025 2024 1,356 1,148 4,841 6,197 10,634 11,782 Total Support Costs 20,535 25,534 10. Related Par Disclosures: There were no related party transactions for the year ended 31st March 2025. Pagel 9