Charity registratlon number 1185718 GRACECHURCH BROMSGROVE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
GRACECHURCH BROMSGROVE LEGAL AND ADMINISTRATIVE INFORMATION Tru$tees Dr J Colèrnan Mr R Hopkins Mrs R Dixon Mr T Prilchald Mr l Dixon Miss S Coppack Charlty number 1185718 Princlpal addrèss 3 Guild Road Brom5grove Worcestershlre B60 2BY Indèpendent examinér Colm McGrory The Oakley Kiddermin5ter Road Droifv4id) Vvorcestershire WR9 9AY
GRACECHURCH BROMSGROVE CONTENTS Page Trustees, report Indépendent examinè¢s report Statement of financial activities Balan¢e sheet Notes lo the financAal statèments 8-16
GRACECHURCH BROMSGROVE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial staternerhts for Ihe year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting polides set out in note 1 to the financial slalemenls and comply with the charity's CIO conslitulion, the Charities Act 2011 and "Accounting and Reporting by Charities.. Siatement of Recomrnended Practice applicable lo charities preparing their accounts in ac¢ordance with the Finanaal Reporting Standard applicablé in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191". Objectivès #nd actlvltlès The charitable objectives arè 85 follow5.. i} The advancement of the Christian religion in the United lfjngdom and overseas. ill The advanment for the public benefit of religious and olher education. iiil Thé ièlief of the siek and disabled. iv) Such other charitable purposes as the trustees in their absolule discretion think ff(. When planning our activities for the year. the trustees have complied with their dutie5 under section 1715) of thè 2011 Charities Act lo have due regard to guidance published by the Chaiity CoTnmission's on public benefit and in particular the specific guidan¢e on tharilies for the advancement of religion. This is achieved through social support to the elderly and poor, educational courses and régular Sunday rneeling5. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the ¢haiity should undertake. Aehievements and perfonnanc8 Signiflcant activities Particular ways in which the objectives have b8en fulfilled incjude.. Ragijlar Sunday afternoon meetings open lo the public and including teaching on the Christian faith. Educational course5 to leach on the Christian faith (Alpha courses open to the publi¢l. Involvement in Ghurches Together initialives Such as Street Prayer which are open to everyone. General prtsvision of social support lo m8rnbers and non-rnembers of the charity. House groups for members and non-merDber5 of Ihe charity, meeting ragularly for prayer, study and mutual support. Specific donations to Charities and individuals working in Churches in Turkey, Uganda and East Afiica. Specific donations to a family providing medical and practical support at a hospital in Zambia. Regularly serving the cornmunily with evenis throughout the year whi¢h include assisting local people and organisations to carry out gardening, painting. litter picking el¢. Also to hold annual events on lo the general public such as a quiz night, summer BBQ and Christrna5 party. Weekly soaal group and meal for the Charford community al St Andrews church hal known as Open Doors which Indudes Bible teaching and activities. Regular a¢tiwlies for young people, including taking a party lo a summer camp organised by Newfrontier5 (Newdayl. Regular provision of meals to the local community, at no charge. Involvernent, together with other churches in the area, in the PfoMslon of Street Pastors to support members of the public. Employment of a Re¢overy Communty Development Worker for onè day a week to build on. and develop. new and existing structures within the ¢ommunily lo support those with drug and alcohol addiction. Alongside this we are looking at woiking with others in the setting up of a residential drug and alcohol'recovery. house in Btomsgrove. The Charity relies on donations from members of the charity. This income was in line with expectation. There were no additional fundraising a¢tivi&es. Grantmaking Vvhen the budget is sèl, after discussions with the elders and the Iru51ee5, arnounts lo be gifted as donallons to third pgrti85 are agreed and budgeted for.
GRACECHURCH BROMSGROVE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Finan¢ial review The net re5uII for the year was a deficit of £2,821 P023 deficit.. £18.5971. The charty received donations and legacies. and investment income amounting to £46.57412023'. £43,619) of which £49,39512023.. £62,216) was spent in pursuit of the charity's objectives. At 31 st March 2024. £19.51812023'. £19,175) was held as rèstricted funds and £89,68112023'. £92,845) wa5 held as Ljnrestricted funds. Of the unrestricted funds. 8 significant Sum has been allocatèd to the development of drug and alcohol support services in Brom5grove. In 2020 we employed a Recovery Community Development Worker for one day a week to build on, and develop. new and existino structures within the ¢ommLJnity to support those with drug and alcohol addiction. We continue to do this. It has been successful in forming links with established substance misusè organisations, receiwng referrals from County service. Group meetings ntInue lo be much needed and and appreciated, particularly over tha last few years with reduced social contact. Alongside this we are ILKJking at worklng wth others in the setting up of a residential drug and alcohol ,coVery, house in, or aroLJnd, Biomsgrove. We envisagè that thè need for such support will rernain in the current financial climate. Rèservès policy The charity aims lo have reserves equivalent lo Ihree rnonlhs of average expenses, Currently around £15,000. This 15 reviewed annually. This level ol reserve would enable Gracechurch lo fulfil ts ongoing cornmitments to its slalf and agreements to lease and hire facilth'es and continue its nomial operatiny actlvitles should a shortfall in incorne or unexpected costs arise from lime lo lime. In determining the le1 of resetves, the Trusteès took into account the currently low levels of fixed expendrtuie and risk incurred by thè Trust. The ¢harity has no invastments other than the bank accounts which are used lo perform the day to day adivilies. Risk managèment The trustees identify the major risks lo which the charity Is exposed each financial year when preparing and updating a strategic plan, in particular those relating to the operations and finanees of the charbly. The trustees then review major risks which have been identified, and establish systems lo mitigate those risks. The charity is salisfie(I that systems are in place to miligate their exposure lo the major risks which have been so identified and reviewed. The charity is open lo fhe usual financial risks of any organisalion, and the charity has introduced controls to minimise these risks, including procedures to prevent Iraud. In addition. the accounts are regularly explained lo members of the diarity in open meetings where all are Invited. They are open for members inspection al any lima. The finances are subject lo an independent Accountancy rèview. The charity carries a comprehensive insurance policy. Work with children and vulnerable adults is open lo risk. The policy 15 that any visits and counselling is done in pair5, as is children's work and the transport of these individuals. Vve havè a s3feguaTding policy. Both Elders of the Church and some of the Trustees have enhanced Safeguarding training Ilevel 2&31. Wè use th6 indèpendènt training and support organisation Thirtyone.'eight www.thi oneei ht.0 for training and adw¢e when needed. All workers are required lo bè clgared by the DBS.
GRACECHURCH BROMSGROVE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure. governance and management The chaiity is a Charitable Incorporated Organisation and is constituted under a Trust Deed dated 19th September 2019 and is registered with the Charity Commission with number 1185718. The CIO ¢urrently mploys two members of stalf. The trustees who served durfng the year and up to the date of signature tsllhe financial ststemenls were.. Mr B Bevins (Resigned 19 September 2023) Dr J Coleman Mr R Hopknns Mrs R Dixon Mr T Prilchard Mr l Dixon Miss S Coppack The trustees are appointed on discussi)n befvrfeen the elders and serving trustees. They a signed in as trustees at the first meeting they attend. The elder5 are Steve Vincent and Jonathan Colernan who prode spiritual and strategic direction to the Churth. The trustees meet at least four times a year and the elders and leadership team meet monthly lo discuss an plan objectives and the implementation thereof. Matters of concein are iaised with all members. Staff of the charty have delegated authorty to carry out day lo day activities thIn p0cleS agreed by the board. Eeumenlcal Telationship¥ Gracechurch works c105ely with other Christian organisations such as Newfronliers and the Evangelical Alliance and other churches in the local area. statement ot trustees. responsibilitie8 The trustees are responsible for preparing thè Trustees. Report and the finan¢i81 statements in accordance with applicablè law and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the statè of affairs ol the charity and of thè incoming resources and application of resources of the charity for that year. In preparing these financial ststements, the trustees are required to: Select suitable accounting pollcSes and then appty Ihem consislenlly., - observè the methods and principles in the Ch8Filies SORP.. make judgements and eslimales that are reasonable and prudènt.. state whether applicable accounting siandards have been foll¢>wed, subject to any material departures di5elosed and explained in thè financial stalements., and prepare Ihg financial 5talernenls on the going concern basis unless il 15 inappropriat& to presume that the charity will Continue in operation. The trustees are responsible for keeping sufficient accounting iÉcords Ihat disclose with reasonable accuracy at any time the financial position of the charity and enable Ihern lo ensure that the financial 51alements compty with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the tru51 deed. They are also responsible foi safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irre9ularities.
GRACECHURCH BROMSGROVE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Insstses, report was approved by thè Board ofTrustses. Mr l Dixon Truste
GRACECHURCH BROMSGROVE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRACECHURCH BROMSGROVE I report lo the trustees on my examination of the finanrial 51alemenls of Gracechurch BTomsgTove (the chartyl for the year ended 31 Maich 2024. Re$pon5ibilitigs and basis of report As the trustèes ol the charity you are responsibl& for the preparation of the financial statements in a¢xordance with the requirements of the Charities Act 2011 (the 2011 Acll. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 1451Sllbl of the 2011 Act. Indèpendènt examinerfs statement Your attentson 15 drawn to thè fact that the charity has prepared financial staternents in accordance with Accounting and Reporting by Charllies preparing their ac£x)unls in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities-. Statement of Recommended Practi issued on 1 April 2005 which is referred to In the extant regulations bul has now been withdrawn. l understand that this has been done in oidei for financial statements to provide a true and fair wew in accordance with Generally Apted Accounting PTaCtic8 effective for reporting periods beginning on or after 1 January 2015. I have completèd my èxamination. I confimi that no rnatters have come to my attention in conne¢tion with the examination giving me ¢8use to believe that in any material re5pecl'. accounting records were not kept in respe¢l of the charity as required by section 130 of the 2011 Act,. or the financial statements do not accord with those records., or Ihe financial Statements do not comply with the applicable requirements concerning the fom) and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any rèquirèment that tha account$ give a true and lair view which is not a rnatter considered as part of an independent examination. I have no concerns and have corne across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be Teached. Colm McGrory FCA Ormerod Rutter Limited The Oakley Kiddermin51er Road Droiiwich Worcestershire WR9 9AY
GRACECHURCH BROMSGROVE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlctsd R8strictsd funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes In¢ome from: Donations and legaciès Investm8nts 44,100 1.556 918 45,018 1,556 38.S90 519 4.509 43,099 519 Total income 45.656 918 46,574 39,109 4.509 43,618 Expenditure on: Charitable activities 48.820 575 49,395 52,676 9.539 62,215 Total èxpènditure 48,820 575 49,395 52.876 9,539 62,215 Net in¢omellexp•ndlturel and movement in funds {3,1641 343 12,8211 113.5671 15.0301 118,597} Reconciliation of fund$: Fund balances al 1 April 2023 92,845 19.175 112,020 108.412 24.205 130,617 Fund balances at 31 March 2024 89,681 19,518 109,199 92.845 19,175 112,020 The stalemenl of finan¢ial a¢livilies indudes all galns and losses recognised in the year. All income and expendtiure derive from continuing aclivilies.
GRACECHURCH BROMSGROVE BALANCE SHEET ASAT31 MARCH2024 2024 2023 Notes Flxed assets Tangible a&%ets 11 1,076 1.133 Currgnt assets Cash at bank and in hand 111.737 114.432 Creditors: amounts falling due wlthln one yaar 12 (3,614) 13,5451 Net current assets 108.123 110.887 Total assets less CUFTent liabiliti8 109.199 112.020 Income funds Restricléd funds Urirestrfcted funds Designated funds General unrestricted funds 13 19.518 19,175 15 50,800 38.880 47.000 89,681 109,199 112,020 3.J.1..12S.... Tho financi81 statements were approved by the Tw*es on.. Mr l Dixon Trustee
GRACECHURCH BROMSGROVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Charity information Gracechurch Biomsgrove 15 a Charitable Incopoialed Organisalion ICIOI with the Charity Commission for England and Wales. 1115 govemed by a trust deed dated 19th September 2019 and adopted by its members. 1.1 Aceounting convention The financial slalemenls have been prepared in accordance with the ¢h8rily's Igovèming documentl. tha Charities Act 2011, FRS 102"The Financial Report(ng Standard applicable in the UK and Republie of Ireland. I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Chaiilies." Staletnenl of Ré¢ommènded Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 20191. The charity is a Public Benefrt Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for Charit not to prepare a Staternent of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a true and fair view. This departure has involved following the Statement of RecoThmended Practi for charities applying FRS 102 rather than the version of the Statement of Recornmended Practice which is referred lo in the Regulations bul which has since been withdrawn. The financial slalements are prepared in sleding. which is tha lunctional CUrneY of the charity. Monetary amounts in th85e financial slalements are rounded lo thè neamst £. The financial slalemenls have been prepared under the historical cost eonvanlion. Tha principal accounting policAes adopted are Sel out below. 1.2 Going concern At tha time of approving the financial stalemenls, the INslees have a 8$Onable expectation th* the ¢harity has adequate resources lo continue in operational existence for the foreseeable future. Thus the Iwslees continue to adopt the going concerrb basi5 of accounting in preparing the financial slalernents. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in fvrtherance of their charitable objectives. Restricted funds are subject to specffic conditions by donors or grantors as to how they may be used. The purposes and useg of the restricted funds are set out in the notes to the financial statements. 1.4 Income Incorne 15 recognised when the charity is legally enlilled lo il after any performance condilior15 have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity ha5 been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised al the lime of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution. the arnount is known, and receipt is expected. If the amount is not known, the legacy is Irealed as a contingent asset.
GRACECHURCH BROMSGROVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcl¢$ Icontinued) 1.5 Expenditurè Expenditurè is racognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a Iransler of economie benefits will be required in settlement. and the amount of the obligation c8n be measured reliabty. Expenditure is classified by actiwly. The costs of each a¢tiwty are made up of the total of direct costs and sharèd costs. inoauding support COSts involved in undertakin9 each activity. Direct $1$ attributable lo a single activity are allocated directly to that activity. Shared costs which contribute lo rnoie than one activity and support costs which are not attributable to a single activity are apportioned beiween those 8¢1ivilies on a basls on51Stent with the use of resourees. Central staff costs are allocated on the basis of lime spènt, and depreciation charges are allocated on the portion of the assevs use. 1.6 Tangible fixed assets Tangible fixed a58ets are initially measured at cost and subsequendy measured at cost or valuation, nel of depreaation and any impairmenl losses. Depreciation is recognised so as to write off the ¢081 or v81uallon of assets less their residual values over their usaful lives on the following bases.. Fixtures and fittings Computer equipment 100k. 50¢A straight line basis 20°- 33% straight line basis Thè gain or loss arising on any disposal of an a55el Is determined as thè drfference beeen the sale procèèds and the carrying value of the asset, and is recognised in nel inme/{expenditUreI for the year. 1.7 Impairment of fixed assets Al each reporting end date, the ¢harity rethews the carrying amounls of its tangible asse15 to determine whether the is any indication th8t those assets have suffered an impairment loss. If any such indication exists, the rewverable amount of the asset is èstimated in ord&r to deterniine the extent of the impaimienl loss Irf any). 1.8 Cash and ¢ash equivalents Cash and cash LI1valentS includ& cash in hand, deposits held al call with bank5. olhei short-terrr liquid investments with original maturitiès of thraa months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in rrent liabilities. 1.9 Employee benefjts The cost of any unuseil holiday enlitlemant is racognised in the period in which the employee's serwce5 are received. Termination benefi15 are recognised Immediate as an expense when thè charity is demonstrably committed to tèminale the employment ol an employee or lo prowde lermin81itsn benefits.
GRACECHURCH BROMSGROVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crltleal accounting estimatss and judgen*nts In the application of the charity's accounting policies, the trustees are required to make judgements. eslimales and assumptions about the ¢arrying amount of assets and liabilities that a not readily apparent from other sources. The eslimale$ and 8ssociatÈd assumptions are based on historical expeiiencè and other factors that are considered lo be relevant. Actual iesults may drffer from these estimates. Thè esliwnale5 and underlying assumptions ar& rèviewed on an ongoing basis. Revi510ns lo aceournting esllmale5 are recognised in the period in whi¢h the estimate is revised where the revision affects only Ih8t peiiod. or in the period of the revision and future periods whèrè the revision affects both current and future periods. Donations and1ogaei¢$ Unrestrictsd Restrl¢t•d fund$ funds Total Unrestricted Rest[ted funds fvnds Total 2024 2024 2024 2023 2023 2023 Donations and gifts Non gift aid donations 41,199 2,901 918 42.117 2,901 36,568 2,022 4.S09 41.077 2.022 44,100 918 45.018 38,590 4,509 43.099 Incom• from investments Unrestricted Unrestrictsd fund$ funds 2024 2023 Interest receNable 1.556 519 10-
GRACECHURCH BROMSGROVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 haritable a¢tlvltie$ 2024 2023 Stahycosls Hardship fund Sundry costs Church gatherings General giving Housing fund costs Church planling fund Witnessing costs Conference and tralning costs Small gatherings Newday costs 6.605 350 2.448 2.960 11.470 225 6,605 995 1,613 2,132 13,615 8,544 4,629 2.051 358 5,623 4.673 2.696 694 2.479 34.600 46.165 Share of support costs (see note 61 Share of governance costs (see note 61 13,595 1.200 14.620 1,430 49.395 62,215 Anatysis by fund Unièslricled funds Restricted funds 48,820 575 52,676 9,539 49,395 62.215
GRACECHURCH BROMSGROVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Supp¢Yt Governaneè costs costs 2024Support costs Govemance CO515 2023 Stsff costs Depreciation Premises costs Printing and stationery Lègal and professional Audi( fees 6,906 741 3.651 1,713 584 6,906 741 3,651 1,713 584 1,200 6,027 1,272 4,512 2,258 551 6.027 1.272 4.512 2.258 551 1,430 1.200 1.430 13,595 1.200 14,795 14.620 1.430 16.050 Analysed between Charitable aclivities 13,595 1.200 14,795 14.620 1,430 16,050 Governance costs indudes costs incurred to the auditors of £1,200 {2023'. £1,400) for Independent èxamination fees. Net movement Sn funds 2024 2023 The net movement in funds is stated after chargingllcrediling).. Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets Loss on disposal of tangible fixed assets 1,200 741 1,430 1,146 126 Trustees None of the trustees lor any persons connected with them) received any rgmunèration or benefits from the charity during the yèar. Employee8 The average monthly number of employees during the year was: 2024 Number 2023 Numbèr Employment eosts 2024 2023 Wages and salari¢s 13,511 12,832 12-
GRACECHURCH BROMSGROVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employegs Icontlnuèdl There werè no èmployèas whosè annual remuneratK)n was more than £60.000. 10 Taxation The charity is exempl from taxation on its actiwlies because all ils income is applied for charitable purposes. 11 Tangible fixed ass•ts Fixtures and ljttlngs Computer equlpmont Totsl Cost Al 1 April 2023 Additions 5.192 120 7,814 565 13,006 685 At 31 March 2Q24 5.312 8,379 13,691 Dapreclatton and impaimient At 1 April 2023 Depieciation charged in the year 4.903 164 6,971 577 11,874 741 At 31 March 2024 5.C67 7,548 12,615 Carrying amount Al 31 March 2024 245 831 1,076 Al 31 Marth 2023 290 843 1,133 12 Creditors: amounts falling duè within onè 2024 2023 Trade creditors Accruals and deferred income 1,594 1,951 1.650 3,614 3.545 13-
GRACECHURCH BROMSGROVE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR YHE YEAR ENDED 31 MARCH 2024 13 ReSlrfetedlrtd# Aloyemgntln fuThd• Mov•rnqniinfvndi In¢4Thing knroThi 1 Aprf12021 1 ApA1242J ndod 31 MaTch 1024 NoUnI fund cnJr¢h PL3Mry fthidlJwthn 1 Hard7hlplund 18 (2251 11.792 4,953 9,071 18.$441 19951 8.078 7,72 24,205 4.509 19.$391 918 19,518 HtrJSing fjJn&+afurvJ kn pro¥ldesuppDrtfoifulurq housiig ar1[dIng praIRS Church pl*ingfuThdlJun i-TuThdstO Supwl achuich pknt m s$910¥e Hatdship tuna- •fundfaru$e kn MiwoON9and¢o1r•Sentlrthbilrtaltsi
GRACECHURCH BROMSGROVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 14 Analysis Of n•t assèts belyrfeèn funds Unre$trlct8d funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tarigible assels Current asselsllliabililiesl 1.076 88,605 1.076 108.123 19,518 89,681 19,518 109,199 Unrestrictsd funds 2023 Re$trleted funds 2023 Total 2023 At 31 Mar¢h 2023: Tangible assets Current assetsllliabililiesl 1,133 91,712 1,133 110,887 19.175 92,845 19,175 112,020 15-
GRACECHURCH BROMSGROVE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 D8signat¢d fvnds The unrestricted funds of the charity comprise the unexpended balanS of donations and giants which are not subject to specific ¢ondilions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specAfic purposes. Balancoat 1 Aprll 2022 Transfers Balance at l Aprll 2023 TraIr$ Balanco at 31 March 2024 Housing fund Hardship fund 43,000 3.000 1,000 46,000 1.000 3.000 800 49.000 1.800 43,000 4,000 47,000 3,800 50.8CX) Housing fund- lo prowde support for future housing 01 building projects. Hardship fund- a fund for use in future Drug and Alcohol residential rehalitatI seNl¢es. 16 Related paty transaction$ The were no disclosable related party transaCtS during the year12023- none).