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2023-03-31-accounts

CHARITABLE INCORPORATED ORGANISATION

ANNUAL REPORT AND STATEMENT OF ACCOUNTS YEAR ENDED 31 MARCH 2023

CHARITY REG. NO: 1186689

1

Grace Church West Wales CHARITABLE INCORPORATED ORGANISATION

CONTENTS
Page 3 Legal and Administrative Information
Page 4 Independent Examiner's Report to the Trustees
Page 5 to 8 Trustees' Report
Page 9 Statement of Receipts and Payments
Page 10 Statement of Assets and Liabilities
Pages 11 to 13 Notes to the Accounts

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Grace Church West Wales CHARITABLE INCORPORATED ORGANISATION

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER 1186689 START OF FINANCIAL YEAR 1st April 2022 END OF FINANCIAL YEAR 31st March 2023 TRUSTEES DURING THE YEAR ENDED 31[st] March 2023

L Bartholomew Resigned 19[th] July 2023 P Prosser B Davies D Jagger Resigned 21[st] October 2022 I Watling Appointed 12[th] July 2022

The Church spiritual leaders appoint and remove trustees following the provisions laid out in the Charity's governing instrument.

GOVERNING INSTRUMENT

Constitution of Grace Church West Wales, a Charitable Incorporated Organization, dated 2 December 2019

CORRESPONDENCE ADDRESS

Grace Court House, Market Square, Narberth, Pembrokeshire SA67 7AU

e-mail: gracekanchi@gmail.com website: www.gracewales.org

BANKERS

CAF Bank Ltd 25 Kings Hill Avenue West Malling Kent ME19 4JQ

INDEPENDENT EXAMINER

Kara Williams BSc BFP FCA Ellis Lloyd Jones Audit Limited 11 Park Square Newport NP20 4EL

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Grace Church West Wales

CHARITABLE INCORPORATED ORGANISATION

INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS

Year ended 31 March 2023

I report to the trustees on my examination of the financial statements of Grace Church West Wales ('the charity') for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Kara Williams

Kara Williams (Jan 26, 2024 08:45 GMT)

Kara Williams BSc BFP FCA

Independent Examiner

11 Park Square Newport South Wales NP20 4EL

Date: Jan 26, 2024

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Grace Church West Wales CHARITABLE INCORPORATED ORGANISATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31st March 2023

Structure, governance and management

The charity is a charitable incorporated organisation (CIO) and was registered as a charity on 2 December 2019. The CIO replaced a Charity of the same name with similar objects, originating in 1988.

The Spiritual Leaders are empowered to implement the appointment of new trustees and discharge trustees by resolutions at properly constituted meetings.

The day-to-day management of the church is the responsibility of the Spiritual Leaders, as listed below:

Objectives

Grace Church West Wales is established by its constitution, dated 2 December 2019. The objects of the church are:

Public Benefit

The public benefit is served by the charity through the provision of storage and distribution space for foodstuffs, administrative offices and volunteers who work to help feed people and their families in need in Pembrokeshire and the surrounding counties. These facilities are provided to and through Pembrokeshire Foodbank. Our Café was used as a venue for the “warm rooms programme” on Fridays. Each Wednesday again at the café, free lunches are provided. Pastoral support is provided to church members and attendees, which benefits the community locally, as well as to those that we support outside the UK. In setting our objectives and planning our activities, the trustees have considered the Charity Commission's general guidance on public benefit.

Activities, achievements and performance

Grace Church has had another successful year with regular services held in Narberth. The church has continued its activities in the community, hosting the local Foodbank at the Courthouse and holding events throughout the year for the local community. The Café was used as a venue for the “warm rooms programme” on Fridays and free lunches were provided on Wednesdays. The Church continues to grow its work in the community, particularly among young people and children.

2022/2023 has been arguably the most consequential year in the history of Grace Church West Wales. A new expression of Grace Church was planted in Saundersfoot. It was decided that it would be led by L Bartholomew together with other leaders as they emerged. 25 members of the congregation were “sent”

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Grace Church West Wales CHARITABLE INCORPORATED ORGANISATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31st March 2023

by the Narberth Church to set up the new Church in Saundersfoot.

The Spiritual leaders and Trustees agreed that the new Church at Saundersfoot would not be controlled from Narberth but once it became established would appoint other leaders, achieve charitable status and be independent financially and in all other respects.

Plans for the future

On the recommendation of the spiritual leaders, it was unanimously decided in December 2022 to set aside 50 percent of our cash assets to give the new Church established in Saundersfoot a good financial foundation, within our available resources. This decision was implemented once charitable status of the new Church had been achieved and a bank account had been opened in July 2023. See “Liabilities” on page 12 below.

We are pleased to report that both Churches are growing.

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Grace Church West Wales CHARITABLE INCORPORATED ORGANISATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31st March 2023

Financial review

Total income during the year was £120,629 (2022: £85,593) with restricted income of £37,226 (2022: £9,610). Donations and related gift aid totalled £66,859 (2022: £74,013) and investment income of £242 (2022: £287).

The Courthouse roof was damaged during Storm Eunice on 14th February 2023 and due to the timely assistance of our insurers and loss adjusters’ large parts of the roof were speedily renewed. We received the settlement of £7,829 from our insurance adjusters within the year and it is recorded under Receipts from Charitable Activities and restricted gifts (Note 2b). The total receipts from charitable activities and restricted gifts was £53,528 (2022: £11,293).

Total expenditure during the year was £142,915 (2022: £92,074) with restricted expenditure of £38,196 (2022: £8,640). During the year, we were able to continue to donate significant sums for missions in UK and overseas. Giving has remained relatively buoyant given the lingering effects of COVID on attendances. Notably we were able to continue our support to Pastor Fredrick and Reeba Anthuraj in Bangalore totalling £4,266 and sending £2,402 as an emergency response to needs in Ukraine. Significantly and as a result of exceptional generosity by a number of our congregation, we were able to donate £29,225 toward replacing a vital bridge in Malawi via our partners and friends in Fisherman’s rest Malawi.

During the year, we renewed our PA equipment and purchased a vehicle to transport equipment to and from hired premises. We also purchased PA equipment for Saundersfoot, paid for hall hire there, and covered the costs of paying a salary for a pastor in Saundersfoot, prior to allocating resources to Saundersfoot for the future. See note under “liabilities” on page 12 below.

At 31 March 2023, the cash funds were £70,008 (2022: £92,294) which was all unrestricted (2022: £970 was restricted).

Reserves Policy

The reserves policy is based on contractual commitments, particularly in respect of employees. Because the principal staff are on 3-month notice contract, the policy is targeted at 3 months of total salary cost. This is currently around £12,000. Any surplus in reserves will mainly be held for contingencies and future capital projects.

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Grace Church West Wales CHARITABLE INCORPORATED ORGANISATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31st March 2023

Trustees' Responsibilities

The Charities Act 2011 requires the trustees to prepare financial statements for each financial year.

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the trust. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees declare they have approved the Trustees' report above.

Signed on behalf of the Charity's Trustees:

Ian Watling (Jan 25, 2024 20:58 GMT)
Ian Watling		 Philip Prosser (Jan 23, 2024 17:34 GMT) Philip Prosser (Jan 23, 2024 17:34 GMT)
Signature(s)
Name I Watling P Prosser
Position(s) Chair of Trustees Trustee and Senior Leader
Date Jan 25, 2024

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Grace Church West Wales CHARITABLE INCORPORATED ORGANISATION

STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31st March 2023

RECEIPTS :
Notes
Voluntary Receipts for general purposes
2a
Receipts from Charitable Activities and
restricted gifts
2b
Investment Income
2c
TOTAL RECEIPTS
PAYMENTS :
Cost of Raising funds
3a
Costs of Charitable Activities
3b
TOTAL PAYMENTS
NET INCOMING / (OUTGOING) RESOURCES
Balances Brought Forward
BALANCES CARRIED FORWARD		 Unrestricted
Restricted
Total
Total
Funds
£
Funds
£
2022-23
£
2021-22
£
66,859
0
66,859
74,013
16,302
37,226
53,528
11,293
242
0
242
287
83,403
37,226
120,629
85,593
0
0
0
0
104,719
38,196
142,915
92,074
104,719
38,196
142,915
92,074
-21,316
-970
-22,286
-6,481
91,324
970
92,294
98,775
70,008
0
70,008
92,294

The notes on pages 11 to 13 form part of these accounts.

All operations are continuing operations.

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Grace Church West Wales CHARITABLE INCORPORATED ORGANISATION

STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31st March 2023

ASSETS
Cash Funds:
Notes
CAF Bank General Current Account
Hodge Bank
Represented by:
General Funds (Unrestricted)
Restricted Funds
4
Non-cash assets
Gift Aid due but unclaimed for 2022-23
Small Donations Scheme Gift Aid due re 2022-23		 31-Mar
31-Mar
2022-23
2021-22
Total
Total
£
£
70,008
44,158
0
48,136
70,008
92,294
70,008
91,324
0
970
70,008
92,294
1,085
4,205
198
100
1,283
4,305

Liabilities

On 7 December 2022, the Trustees decided that a grant to "Grace Saundersfoot" would be made available when they received charitable status and were able to accept the money to their own bank account. This constitutes a liability of approximately £37,654 to be paid in the next fiscal year.

Before the year end, the trustees had agreed a donation of £500 to support the Korean Prayer Mission. Due to a banking error, this was not paid before the year end and was paid in the following year.

Other than the above the CIO had no guarantees or debts at 31 March 2023.

TRUSTEES RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS

Charity Law requires the Trustees to prepare financial statements for each financial year which comply with the regulations set out in the Charities Act 2011. The Trustees have elected to take advantage of the provisions that apply to small charities and have prepared a Receipts and Payments Account and Statement of Assets and Liabilities which are set out on pages 10 to 11.

The Trustees declare they have approved the financial statements above.

Signed on behalf of the Charity's Trustees:

Signature(s) Ian Watling (Jan 25, 2024 20:58 GMT)
Ian Watling		 Philip Prosser (Jan 23, 2024 17:34 GMT) Philip Prosser (Jan 23, 2024 17:34 GMT)
Name I Watling P Prosser
Position(s) Chair of Trustees Trustee and Senior Leader
Date Jan 25, 2024

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Grace Church West Wales CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st March 2023

1. BASIS OF ACCOUNTING

The accounts have been prepared under the “Receipts and Payments” basis and in accordance with the Charities Act 2011.

2. RECEIPTS
Notes
a) Voluntary Receipts for general purposes
General Donations
Gift Aid Income Tax Recovered
b) Receipts from Charitable Activities and restricted gifts
Receipts from Activities (not fundraising)
Donated Reimbursements
Restricted Donations (incl. Gift Aid recovered)
4
Insurance Claim settled (roof damage) caused by
storm Eunice
c) Investment Income
Rental Income
Interest		 Unrestricted
Funds
£
Restricted
Funds
£
Total
2022-23
£
Total
2021-22
£
58,308
0
58,308
68,240
8,551
0
8,551
5,773
66,859
0
66,859
74,013
1,761
1,761
245
6,712
0
6,712
1,438
0
37,226
37,226
9,610
7,829
0
7,829
0
16,302
37,226
53,528
11,293
45
45
0
197
0
197
287
242
0
242
287

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Grace Church West Wales

CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31st March 2023

3. PAYMENTS
a) Cost of Raising Funds
Fundraising costs
b) Costs of Charitable Activities
Notes
Insurance
Bank Charges
Administration
Accountancy & Legal
Services and Resources
Rental of Premises
Subscriptions & fees
Courthouse expenses
Courthouse Repairs
Employee costs
Ministry Gifts and expenses
Outreach costs
Gifts & Grants
Discretionary Gifts and Grants
Frederick & Reeba India
4
Mission Gifts RESTRICTED
4
Ukraine Refugees support
4
Pastor Retirement gifts
4
Fishermens Rest Malawi Bridge RESTRICTED
4
Purchase of van		 Unrestricted
Restricted
Total
Total
Funds
Funds
2022-23
2021-22
£
£
£
0
0
0
0
0
0
0
0
Unrestricted
Restricted
Total
Total
Funds
Funds
2022-23
2021-22
£
£
£
2,367
2,367
2,147
121
121
201
2,737
2,737
1,945
828
828
4,971
15,048
15,048
9,069
8,055
8,055
5,168
641
641
671
8,837
8,837
3,286
9,848
9,848
9,089
37,244
37,244
37,466
2,140
2,140
1,440
4,069
4,069
895
6,535
6,535
6,818
859
4,266
5,125
3,308
2,303
2,303
0
2,402
2,402
3,882
0
0
1,718
29,225
29,225
0
5,390
5,390
0
104,719
38,196
142,915
92,074

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CHARITABLE INCORPORATED ORGANISATION

Grace Church West Wales

NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31st March 2022

4. RESTRICTED FUNDS
Missions General
Frederick & Reeba India
Ukraine Refugees support
Fisherman’s Rest - Bridge construction		 Balance
01-Apr-22
£
Income
£
Expenditure
Balance
31-Mar-23
£
0
2,303
2,303
0
0
4,266
4,266
0
970
1,432
2,402
0
0
29,225
29,225
0
970
37,726
38,196
0
.

The restricted funds are explained in note 6 of the accounts.

The restricted funds are wholly represented by cash reserves of the charity.

5. PAYMENTS TO TRUSTEES AND DONATIONS BY TRUSTEES

£11,093 was reimbursed to 3 trustees in relation to expenses incurred (2021-22: £1,461 was reimbursed). No expenses were claimed by trustees in regard to trustee duties (2021-22: NIL). Expenses waived by trustees were immaterial.

Two trustees were employed by the charity and were paid a total of £35,000 (2021-22: One trustee paid £11,667). This year a total of NIL was paid to one connected person (family of a trustee) for work undertaken (2021-22: £3,550).

Total donations by trustees were £14,968 (2021-22: £12,042).

6. DESCRIPTION OF FUNDS

All money given by donors to a Restricted Fund is used for that purpose. Where there are expenses incurred in the delivery of goods or services in an area covered by a Restricted Fund, money may be drawn from this Restricted Fund to cover the relevant expenses in delivery of the service covered by that Fund. An explanation of the different Funds follows:

Description of Restricted Funds

Missions General - This is a fund dedicated to Mission work at home and abroad. The funds are distributed at the discretion of the Spiritual Leadership.

Frederick & Reeba India - Grace Church has a longstanding relationship with an Indian pastor and his wife who run and support a number of projects in Bangalore including a pastor’s support group and a women’s sewing workshop relieving poverty and reinforcing the spread of the Christian gospel in the area.

Ukraine Refugees Support - The Church has a long-standing contact with Marek a Bishop of the Church in Poland and when the Ukraine crisis occurred it was decided that we would support the work among the refugees being undertaken in Poland through the church there.

Fisherman’s Rest -Bridge Construction- The Fisherman’s Rest is a food and education community development project in Malawi with which the church has had links for many years. A bridge granting access to the work was destroyed in 2022, by cyclone Ana, and funds were collected and sent on toward rebuilding the bridge.

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