Reglstered Chath Number: 1192822 IEngland and Wales) GRACE CHURCH BATH (A Charitsble Incorporated Organisatlon) Annual Report of the Trustees and Unaudited Financial Statements for the year ended 31 December 2023 Independent Examlner: Mr L Whatlln8 Flat 12B Klngsley Road Bedford MK40 3SF GRACE CHURCH BATH (A Charitsble Incorporated Or8anlsatlon) co￿ENr5 OF THE ANNUAL REPORT OFTHE TRusfEES AND UNAUDITED FINANCIAL STATEMENfs FOR THE YEAR ENDED 31 December 2023 Page Referen￿ and administratlve information Report of the Trustees Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities io Balance Sheet li Notes to the Financial Statements 12-23 Page I GRACE CHURCH BATH (A Charitable Incorporated Organisation) REFERENCE AND ADMINISTRATIVE INFORMATION CHARtrY NAME Grace Church Bath REGISTERED cHAR￿y NUMBER 1192822 (England and Wales) PRINCIPALAP4D REGISTERED OFFICE Emmanuel Church Apsley Road Bath BAI 3LP TRusfÉES Trustees who have Served at any time from the beginni￿ of the accounting period until the date this report was approved are: Miss Amy Cousley (appointed 18 July 20241 Mr Michael Craine- Lay Reader Rev Michael Farrier- Incumbent Mr Bruce Gardiner (appointed 18 July 20241 Dr Gaston King Mr Vighnesh Padiachy. Chairman Mr Kevin Purkiss Miss Anna Rew (resigned 17 June 2024) Mrs Rachel Seaborne Miss Shona Stewart (appointed 18 July 20241 MEMBERS In accordance with the constitution of the Charitable Incorporated Organisation, the members of the CIO shall be its charity trustees, who are the only persons eligible to be rnember5. Page 2 GRACE CHURCH BATH (A Charitable Incorporated Organisation) REFERENCE AND ADMINISTRATIVE INFORMATION (CONfD) MINISTRY LEADERSHIPTEAM Those serving on the Ministry leadership team at any time from the beginning of the accounting period until the date this report was approved are: Mr Andrew Close (from 23 May 20241 Mrs Joy Craine- Elder Rev Michael Farrier- Pastor and Elder. Chairman Mr Bertie Kennedy- Elder Mr Jonathan Salisbury (to 3 April 20231 Rev Francesca Youing5 (from 18 June 2023) TREASURER Mrs Gillian Jordan BANKERS Natwest 24-25 Stall Street Bath BAI IQF INDEPENDEp¥f EXAMINER Mr Lewis Whatling Flat 12B Kingsley Road Bedford MK40 3SF Page 3 GRACE CHURCH BATH (A Charitable Incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2023 The trustees present their annual report wlth the financial ststements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: ststement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102, effective l January 20151. The constitution of the Charitsble Incorporated Organisation. dated 7 Ortober 2020. was amended and approved by the Charity Commission on 13 December 2020. Grace Church Bath became a registered charity on 16 December 2020 {Registered Charity Number 1192822, Charity Commission for England and Wales). Atms AND PURPOSES The objects of Grace Church Bath, Charitable Incorporated Organisation. as approved by the Charlty Commission. are to advance the Christian faith in the 8ath Deanery of the Church of England, Diocese of Bath and Wells, as the trustees may from time to time think fit including through providing services for prayer and worship and pastoral care and outreach into the community. OBJEcnvES AND AcllviTIES Grace Church Bath is a Misslon Initiative, endorsed and provided for under a Bishop's Mission Order dated 9 February 2021. The order was made bythe Bishop ofthe Diocese of Bath and Wells under part 7 of the Mission and Pastoral Measure 2011. The objective5 of the Mission Initiative are to promote the Christian faith and the common good. and to plant a new church community initially specifically focused on families and others who are impacted by Sunday morning sports, or for whorn an afternoon expression of worship is more appropriate. CLERGY Rev. Michael Farrier is the leader of the mission initiative in accordance with the Bishop's Mission Order. He has been in post a5 Priest-in-charge of Emmanuel Church, St Nicholas Church Kelston and Grace Church 8ath since his licensing in February 2020. The 8ishop's Mission Order also names the visitor of the mission initiative as the Ven Dr Adrian Youings, was the Archdea¢on of Bath until 17 June 2024. The Revd Charlie Peer tskes on this role of visitor when he becomes the new Archdeacon of Bath in September 2024. The role of the visitor is to carry out the functions specified in section 81 of the Mission and Pastoral Measure 2011. WORSHIP AP4D SPIRtWAL UFE With a continLFed emphasis of being shaped and 8uided by the Bible, as God's final and authoritative Word, in all that we do, the Grace Church Bath family have continued to serve towards our mission focus of being a church family at 4pm for all who cannot attend Sunday church service5 at tradttional times. This ontinue5 to include an ernphasis on spor( though not exclusively so. Page 4 GRACE CHURCH BATH (A Charitable Incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2023 (convd) WORSHIP AND SPIRITUAL LIFE ICONT'DI This year our preaching and teaching series. to all ages, saw us journey through chapters 11 to 21 of John's Gospel, chapters I to 22 of Genesis, and the First Epistle of Peter. c￿er the summer weeks we explored 'Encounters with Jesus,. looking at the first-hand interactions certain men and women had with Jesus and the impatt this had on them. then, and us today. Over Christmas we focussed on the supremacy of the Son of God, come to earth. We ran a speciflc Bible-teaching series of three parts over consecutive months (March, April, May) exploring the Scriptures on the subject of human identity. These were largely discussion and Q&A sessions. supported by Bible teaching in specific areas of issues relating to identity. We continue to focus on our welcome as a church. with h05Pitality before ènd after services. as well as fellowship and pastoral support beyond Sundays. Our service time remains strictly one hour14pm- 5pm) to allow for a good amount of time for mutual fellowship and discipleship together. Thi5 is an important aspect of our Sunday gathering. The children and youth are offered a hot meal after the service to encourage their fellowship together, as well as supporting parents. The whole church family enjoyed meal together after the Service on 22. January. which was both a delight and great funl Our children and young people met for fellowship at the"Scubed" youth group and more groups have stsrted in 2024 to 5UPPOrt our growing children's ministry. The women in our church family enjoyed a dav of fellowship, friendship and teaching in March. There was a church family BBQ in June, with games in the I￿al park also happening at various times in the year* generally straight after the Sunday gathering. We were delighted thac having completed her curacy with us, Rev Fran Youings joined the team as a permanent member of stsff in the role of Associate Minister. Whi15t Grate Churth fully employ Fran, her role continues to see her serving both at Grace Church Bath and across the benefice of Bath Weston St. John with Kelston. At Grace Church Fran has specific responsibilities in the development and oversight of pastoral care and discipleship, and is the staff member responsible for supporting the music and the children and youth volunteer leaders. The number of committed regular worshippers at Grace Church Bath as at February 2023 was 86 {2022: 701. Of these regular worshippers, 39 were students12022: 251. CHURCH BUIU)INGS Grace Church Bath does not own or manage any buildings, but continues to be a tenant at St. John's. Lower Weston, providing a weekly Christian witness in a church where there is otherwise no ongoing worship. We are grateful to God for the provision of thi5 Opportunity. PASTORAL CARÉ A total of 6 people15 adults and I child) were baptised during the year. The Bishop's Mission Order doe5 not authorise the solemnisation of marriage. Page 5 GRACE CHURCH BATH (A Charitable Incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2023 (convd) MISSION AND EVANGEUSM Grace Church Bath places an emphasis on witnessing to others. In 2023 we ran a three session Hope Explored course, and we also hosted Roots of Jazz. an event that combines excellent jazz music with gospel testimony. There was a clothes-swap event in March to raise money to support Save the Children's Turkey Earthquake Appeal. At Christmas we held our second Carols at the Rec Event, with over 2,000 people attending at the Bath Rugby grounds to sing carols and hear a gospel rnessage. There was a Carol Service at Grace Church Bath too, and a popular wreath-making event including a tslk. It is clear that the vast majority of our outreach activity focused on people coming to us. and attending events that we were hosting. The Ministry Leadership Team and the Community Outreach Team ICOTI have recognised the need to focus more on 'going ouv than 'brin8ing in, and we will look to addre55 that in the year ahead. FINANCIAL REVIEW Total incoming resources for the year were £124.49812022- £118.453) of vthich £32,199 was restricted for the purposes of funding future ministry, admin hours or renovations to the building of St. John's where Grate Church Bath meets. £70,937 was unrestricted voluntsry donations, mainly regular giving by dirert payment to the bank account. £15,448 was from Gift Aid on those amounts, £345 was collections for missions. £2,370 COrnPTised payments received in respect of Inon-fundraisingl evangelistic church events and £3,199 vrns other income relating to costs shared with other churches. In 2023, the amount of voluntsry income (excluding grants) given by trustees. including Gift Aid tsx recoverable. VRS £39,301 or 35% of the total amount given12022= £59.797- 55%). Expenditure comprises mainly salaries. running costs. mission and evangelism costs and misslonary giving. At the end of the year, reserves stand at £164,207. of vthich £101,357 is unrestricted funds {2022: £104.445. of which £57.754 was unrestricted funds). RESERVES POUCY The trustees. policy on reserves is to try to ensure that incorne exceeds expenditure in any given year and unrestricted funds are maintained at a level that allows the trustees to take action in the event of cessation of a rnaior part of its voluntary income. In particular, they aim to rnaintain a balance on free reserves which equates to at least three rnonths of unrestricted payments, in order to be able to smooth out fluctuations in cash flow and to meet ernergencies. DEANERYSYNOO Two members of the mission initiative sit on the Deanery Synod for the year. Thi5 provides the church wth an important link to the wider Structures of the Deanery and Diocese. Page 6 GRACE CHURCH BATH (A Charitable Incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2023 (conyd) srRucfuRE, GOVERNANCE AND MANAGEMENT Grace Church Bath is a charity, re8iStered with the Charity Commission in England and Wales. The method of appointment of trustees is set out in its constitution, the Constitution of a Charitable Incorporated Organisation whose only voting members are its charity trustees. All those who attend our services are encouraged to register on the Mission Initiative Roll of Grace Church Trustees are responsible for making decisions on all matters of general concern and importance to the charity Including deciding on how the funds of the charity are to be spent. The trustees delegate much of the responsibility for the day-to-day running of the church to the Ministry Leadership Team. Their decision- making is also informed by the Finance and Resources Team. including the Treasurer. Trustees met 3 times during the period with an average attendan￿ of 81%. VOLUNTEERS Church families survive and thrive largely on the willingness of members to volunteer to serve God in His church. We rely on one another, using the gifts that God ha5 given to US to serve Him and His mission. We are grateful to God for each other, therefore, in the ways that we work and serve together in all areas of the church. We thank one another for all that is being done, and for the huge efft>rts beln8 made, often at personal cost. RISK MAt4AGEMENT The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Report of the Trustees was approved by order of the 8oard of Trustees on 3 October 2024 and signed on its behalf by.. Mr Wi8hnesh Padiachy- Chairman Page 7 GRACE CHURCH BATH (A Charitable Incorporated Organisation) STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kin8dom Generally Accepted Accounting Practice). The law applicable to charities in Engl4nd and Wales. the Charities Act 2011, Charity (Accounts and Reports) Regulations 2LTh)8 and the provisions of the Church Accounting Regulations 2006 require the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources. including the income and expenditure, of the charity for that period. In preparing those financial ststements, the trustees are confident that they have-. selected suitable accounting policies and then applied them consistentlv,. observed the methods and principles in the Charity SORP; made judgements and estimates that are reasonable and prudent; and prepared the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustee5 are responsible for keeping proper accounting records which disclose vAth reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the Church Accounting Regulations 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the Board of Trustees on 3 October 2024 and signed on its behalf by: i. PJ Mr Vi8hnesh Padiachy- Chairman Page 8 GRACE CHURCH BATH (A Charitable Incorporated Organisation) INDEPENDENT EXAMINEWS REPORT to the Trustees of Grace Church Bath on the accounts for the year ended 31 December 2023 Respectlve responslbllltles of the Trustees and the examlner The charity trustees are responsible for the preparation of the accounts. The charltys trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility: to examine the accounts under section 145 of the Charitie5 Att; to follow the procedures laid down in the general Dirertion5 given by the Charity Commi55i0n (under section 145151{b) of the Charities Act); and to state whether particular matters have come to my attention. Basis of independent examinerfs statement My exarnination was carried out in accordance with the general Direction5 given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and compari50n of the accounts presented with those records. It also include5 consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees as concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fairf view and the report is limited to those matters set out in the statement below. Independent examlnerfs statement In connection with my examination, no matter has come to my attention: l. which gives rne reasonable cause to believe that in any material respert the requirements: to keep accounting records in accordance with section 130 of the Charities Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Art have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understsnding of the accounts to be reached. Signature Date 30/09 /?oa< Name Mr Lewis Whatling Relevant professional qualifications or body {if any): ACCA Address Flat 12B Kingsley Road. Bedford MK40 3SF Page 9 GRACE CHURCH BATH (A Charltable Incryrnted I￿gIn11*110n) Statement of Flnancl•l Adlvltle8 forth¢ yfrar ended 31 December 2023 TOT Fuf•J• Fund• 31.1223 31.12.Y2 N*10 N¢kn ql INCOMING RESOURCE8 Volvnt•ry In￿Me 3Zi93 118.929 116,824 Aetivltkns forg8nw8Ung bJnd¥ Incoma frnm thurch gcm 2,370 2,370 Olher Snco 3.199 3.199 TOTAL INCOIIINO ResoLWKES 124h•O 118.45J IIESOURCES EXPEPIDED Expor￿lIum ￿. Raising fund* 17 12 Church athib 49.561 11152 64,713 49.154 Olh•r •xp8ndtturè 15.158 49.186 NET INCOMING RE8OURces 17M41 Tran•f¢￿ fijnds 18821 NEf MOVEMENT IN FIINDS 16,1 R￿0￿¢1]14110n of fund•.' Total fundi ￿￿ght 57.764 35.138 101JS7 104445 ¢￿￿￿t￿*119urn• for th• 1ndhIdu￿ frJnd• *••lKywn Sn Ilcth 10 to 12 P•w 10 GRACE CHURCH BATH IA Charltable Incorpornted Organlsatlon) Balan￿ Sheet as at 31 December 2023 31.1123 31.12.23 31 t222 31.12. AXEDASSFts Tangl￿e fLxeA aB8ets 2,814 2.614 CURRENT ASSETS 08téor8 23.675 21,989 Caah at t>•nk and In h￿d 159,￿ 102,815 183,501 LIABILMES Amounts falliw due wittwn one year 23,173 NET CURReNT ASSErs 15T.838 101.631 TOTAL NET ASSETS 104,445 FUNDS 101.357 57,754 46,891 End0￿ent TOTAL FUNDS 104107 104.445 Apyoved by Ihe Tru•teeJon 3 Octobe¥2024, and 81gned beham ty. v- IJ, Mr Vuhne8h Padtachy (Chairman) MrBGillLqn knd8n ITrvaBurer Py11 GRACE CHURCH BATH (A Charltable Incorpornted Organl••tlon Nots• to the Flnan¢lal Stat•ment¥ fortho year end•d 31 D•combw 2023 1 ACCOUNnNG pOL￿lEs The fin8M•l qtatemtynt8 ha¥% teen %¥lth FRS102. The fin8ndal •tatewts have teen wepar•J uthrlhe hwtorlcal rtht o¥c¥forthe valu*on ol investment awts lifanyl. are 8t The finanual indLth all tran￿(%01* 8¥8ets Ilabilrti88forwhich th• charity 18 reW)n￿￿e in I￿. Theyd¢ not indude the awxnt8 of chur¢h grou￿ uw¥ththr rnain affillation to another Wy, nor Ihw that Bre Info￿81 gatherir¥Js ol church mernt*rn. Th¢ fin8nLxèl *8temÈnts hav¢ teen weFqr*J on the g¢¥ffj conc*m ATrJ the Tr￿tea￿are not aware ofany r•aBortsknthy Ihts i• r8 not apFllcaNe. The tharlty Ss a PuUlc Benefft Enw. Fundi {R•s•Nul qtsarterfy monagament acC¢unts￿￿* enablÈv*m to ewrtUrtVe￿Js Inc¥)me re¢eNed. The chathy aim8 ITr any one year r*)tto have Èyndrture exce¥Jlro Income. aim&to have unresthLtsJ tuth 4t a levelltrAt allo￿ the Tr￿ to take athon in the event ofa ces¥Uon of a major wt of4t8wJluntary Ine4Jme. R•&trtctedFwth reweBent monles reeeN¥J lor a 8peuThc ¢tii•d or purpJ8e may only be expeTrJ•J on the ot¥ect ¢r wrwjse trw *epNen. Any ￿lanCe remai￿￿ urtswnt at Ihe end ofeach year ¢arri*J forwarrj as a balance ¢n that fuTh#. The ¢hanty d¢eB not In¥e6t se￿rntety hr each fund. In the evantthat intere¥t ￿ retht4e mon* iTrv8* then th*1& aFPOrtionedto indfv¥lual fwvjs on an a¥erage tyaknce b*iB. erethe cakytsi m￿t be hekl pennanentty * the chaiity W the incme can t* tjoed as the charty8888rt or expenda148 erK*yMnents, tJJth the cathl 3TrJlhe income carl be IAed tythe charhyfor rts Incomlng R•¥ourc•• Tax refvnd& are rewJnfyed wh¢n due. Gtants are acmunted forthen the eharty h IWY to Ihe amounts du•. IntereBt B ori￿ed L4ades are tskeTr into aLxxunt when rece￿￿. Other Inty)me fd reix¥nwJ when it * re£¢Nat4e. I In¢¢ming rep*Jurcé& oro ace4yJrrted for gr Grants and donthro are for*tW) 04wuwhen awathA. The Diocesan parBh $hare ￿ account￿ lorvthn du l other eyThJrture B generally reccgno¢d r8 Intyjrr￿I. Page 12 GRACE CHURCH BATH IA Charllable In¢orpornted Organlsatlon) Not￿ to th• Fln•n¢l•l Ststemonts lor yw ended 31 D￿eMb￿ 2023 1 AccoupifiNO POUCIES Iconvdl Flx•d As••l• Equlwnent aTrJ hjrnknre b)W and Lwj bythe (*8rt¥ ** deFraaatsd ¢n a *rayM.Ilne b* vrferlourye* lor overlhree year6 in the ¢ase of rn￿¢17T e4uiw￿nt 8Th1 ts¥o yearn in the m of MO￿"1e ￿one￿I, exceFrt erethe chartty ha¥ lo dlspw of an asset earfierthan eypected or bef¢)rethe eTrJ of the ￿rtI￿ 8Btlmat*d lrfe. When the case. the ￿Itten t¢ it6 r￿t reali8at4e walue. Investments Irf aThyl arev8l¢wJ at market value *the￿j ￿the accounlrYJ WK*J. P4ge 13 GRACE CHURCH BATH (A Charltable In¢orporatsd Organlsatlon) Note¥ to tho Flnanclal Statemwts for the year •rKled 31 Decemb￿ 2023 (contlnu•d) TOTAL 31.12.23 TOTAL 31.12.22 FuThJ8 Fund FuTrJ& ¢10 e17 2 INCQMING FUNOS 2a Voluntwy I[￿m• Planned gNlng". Gift Athd ¢S)nalor4 Tax rewverab 57,311 15,448 11680 57.311 15,448 12.680 555 24,5 54,070 13.949 1.244 714 37.007 7.500 ColletbonB aTrJ &rytUp Grft day8 Ilnc ￿ Ak1 £4,875) Grnn¢5 Don*'¢ns, appeats eto Collectknrffj for PABtyor4 (notè t21 Legacies 24, 311• 118.92 110,624 2b IncLThfrom SDw•th￿nts.' Interest Events In0￿￿￿￿J￿4WrvJl 1M29 3.11KI 3.199 TOTAL INCOMING FUNDS 311 124,498 111.453 J FUNDS EXPENDED Ja R•l•lrwJ fttnd• Sumup (wmlB& 17 12 3b Church •rlfvlU Minsionary & charitatye gMrvJ Dlocesan parish share Salarfes. wag88 S tthorarla Clergy & staff MB8ion & evarvJelth CK Church runnirvJ & I￿l￿tenar￿4 C¢* oftradlr¥J Dew8o*ion ofchurth MlnBty tralMe• tMJrsaiie8 7,453 5,875 8,414 1S,152 21,117 2.108 5.933 8,984 3,217 1,*0 11,59B 11,598 2,575 2,$75 581 14152 04,713 49,154 TOTAL FUNDS EXPENDED 14150 49,1 Pag• 14 GRACE CHURCH BATH (A Charltablo Incorporated Ory4nl•atlon) Notes to the Flnan¢lal Slat•m•nt• for the year endod 31 Dec•mber 2023 Icontlnued) Total FundB Funds FuTrJB 4 TANGIBLE FIXED ASSErs COST at 1 January 2￿3 AkI￿n$ at cost 5,538 6,330 449 at 31 D¢¢¢mber2023 11,417 11,417 OEPRECIATION at 1 January 2023 Charge foTthe year Dwyxab at 31 Decemtér 2Q23 2.722 2,575 2.575 449 4,848 NET BOOK VALUE 31 Dewthter 2tr22 2M14 2￿14 Flx•a aBBets comrrn and ¥oufyJ lor durwMJ 8er¥ic• as￿11 aj a n)otile ￿one for bythe Pa8t4y. 31.12.23 31.12.22 S DEBTORS Tax recoverablÈ Pre￿yments and x£¥wJ InLX)mt 19,855 21,242 747 23,075 21,989 31.12.23 31.12.22 Q UA￿LmE$ Arnount• falling due in one year. al lor rn￿Onary gmng tothird parbe8 8uppDrt fvTra IpYe*iouhy known a&'HaTthhip ful￿} Ire*1*￿￿ fuTrts- nrte• 8 and 111 knount dueto Bath Weuton St John PCC18¢e ￿te 171 Othercr8dttor6 8Th1 accru* 7,108 10.111 2,188 8.417 2.457 23.173 6,273 11.176 25m3 Page 15 GRACE CHURCH BATH (A Charltable Inco￿Orated Organl•atlon) Notm to th• Flnanclal 8latem&nts for th? year ondod 31 December 2023 Ic¢>ntlnued) 7 FUNDS IREseRVESI RESTRICTED FUNDS 131 0e¢emter 20rJ. Ihe re*rK*•J Mlnllty fuMI During 2022. a gffl doywas he*J lorthe purpJ&e of ra￿n0 monbeB to fund more mthotry fiou￿, Bp8cMcallyvAth a vi•w to ern￿o￿rg an A8￿c*Ste Min*er. app)intrnent to WBB m•Je in 2023 arn¥the restrrd*J fuTrts in thb re••N• are belNJ accordirvJty. In •<hn. anclherg¢ft day*d& hekl in 2trXJforthe purpxè of ra￿￿9 further mon1¢• to fund minBtry ttout4 arKI thè* luTraBwe tothts re6triC￿ fuTra. Admln houm Grants were re¢¢￿ed durfTrJ 2ff22 aTra 2tr23 from St Hel￿* Church. BthoFoJate for Ihe ol frJThYtw more mln*trative hour& There wa8 a m(xJegt increase in •JrninWraYv• hWr¥wor￿s ty ethtlng pwsonn81 duriThJ 2023 and the restrictal furK1s In th￿ re8oNe ￿re to fvr*Y the extra hourn No aFP)irrfment ol addknonal pernonnel wa8 mad¥ during 2tr23, an M8nager ￿ aprA)inknY 8TrJ 8tsrt*J th duw 2024. the c£* are bory funded Ihe grnnt moni08 in thh fund until they are bjlty Supportfund Iwwlou•ty'H•rd¥hlpluTrT) The Grace Chur¢h le*Jernh1ptr￿the ¢Je¢tskn in •arty2023to ￿eate a fund to wJpr*Jrt ofthe corqrtya vrty) have teen imFac*ed by the c<¢t of IMr¥J cr*& ThtswB8 c¥eated by OFP)rtKJThiry one Ihird of Ihe mo*onary gMtYJ fundsthat h*J been a¢xyued in resFeL* of 3)>￿￿1. Outhg 2023, Some of Ih¢•e lundB have baen ullbwj f¢r IhlB wrw. indJJdir¥J 8uppJrlng th'klren to Chrf*n camp. 8ulldlng fuhd A 1)ttk￿￿ comp•llon w8B hepj In thur(* In earty2023w*h mont•B r8*•J for ftrture refttsvalorffj oftha St Johnb tr*Jlidlry *there Cburth Bath m88ts. ENDOWME￿ FUNDS There Hfe no eThI¢￿￿nt fv Detsits ofth• In thry unrt*rktsJ luTrJ8 areg)Wen kn 10 and 11. O ANALYSIS OF N￿ASseTs 8Y FUfrXJ Unre5triLt&J Funrlj Re•tri￿￿1 ETrJobvment Fund Funds Total 31.12.23 Tanglble r￿d 8* ncrte 4a 8.569 note4b Current a88eb s￿"1￿*• fallirg duv*ithiTr one year 119.345 24,557 101.357 64,1 183.501 25,863 104.207 FINANCIAL COPIIIITMENTS There are no finanoal cc4nmttments aB at 31 De¢￿t￿2￿￿812￿L £nlll P4¢ 10 GRACE CHURCH BATH IA Charllabl• Incorporatod Oryanl•atlon) Note• to the Flnanclal Statsmnts for th8 year end•d 31 Decomb•r 2023 {contlnuedl 10 UNRESTRICTED FUNDS Gentral FuTrJ 91.12.23 General Furyl 31.12.22 INCOMING FUNOS Voluttt•ry amed ghiw". Gift AkJe(I doTration8 Tax recovera￿8 57.311 15.448 IZ6 54,070 13,949 1,244 714 cell￿"0n89Th￿ SumLt• Gift*YayB Grants DonabonB, apFeab et¢. Colwons for MI￿0￿ lTh)t8 121 Legad•• 140 72.117 E￿nt81n¢￿1UThjra￿"wI 2,370 1199 TOTAL INcoMrt4G FIINDS 73.946 FUNDS EXPENDED Ra￿Tra fund• 17 Churth 49.￿1 49.154 roTAL FUNDS EXPENDED 49.162 NetgalWk•xs10Tr (nvether*ts NET INCOPAINQ FUNDS 4n1 24n4 Tran•ler b6ttwen 12,1881 PIET MOVEMENT IN FUNDS 8alanc• tsro￿ht l￿ward 57.754 35,1S6 101,3ST J7.754 Prye 17 GRACE CHURCH BATH IA Charthbl• Incorpornted Organlmtlon) Notes to th¢ Fln•nclal Slatements for tho year ¢nd•d 31 Decembw 2023 Icontlnued) 11 RESTRICTED FLWIDS nkny hpurn ￿min Tr￿Ul¥ FurKI Fund Bullding Fund Tot•1 31.12.22 Fund. 31.12.23 INCOMING FIX4 Volun* Inct Plan￿d gmng.. Gift A¢J8d donntion¥ T&¥ reco¥er8b Coll*tron5 and Sumup Glft days linc GfftAkJ £4,875) Grnnt8 DonatFon%. appo911 8t¢. Coll•¢tion8 for Mist1￿ Inrt• 121 37.W7 100 32.190 Ev•nts 1n0fvfundra￿in9j TOTAL IIKOMINO FUNDS 3119 FUN￿ expENDED 14,21e 1S,1S2 TOTAL FUNDS EXPENDÉD 15.158 Net vin￿lOBses) an In¥•stments Ner INCOMIPIO FiIP408 10• 17.Q41 18821 18821 2,188 NET MOVEMENT IN FUNDS 10A68 16,IS• 46,691 g•Jan¢• broulltrt 97,Crt)3 1188 48.091 47W1 4S,891 ' Supwt Fund ywlou•ly •b'N¥dBhtp FurAI' P8y18 GRACE CHURCH BATH IA Charllable I￿onI0rated Organlsatlonl Nol•s tr• tho Flnancl•l Statsmenl8 for the year Onded 31 DKomber 2023 1con1lnu￿) 12 MISSIONARY & C114RrrABLE GIVING Tolal ol¥•n the chArlty Save the Chikjren (rU￿*Y earthquake apWI 185 Hom• Mls•kn• & +)thor Chutch S(%10110A'. Grace Church Bath supp)rt luTh I Sou18 Ser¥¢ the Cty S•cul# Organ1• Totsl dorÈ&tbon• m•Jo In th•*xounlln4 pwI(•l Accrua1forft￿￿• mS••Son•ry gMrvJ: ch￿￿an% in Swrt Cro•gllnk 4.n9 2.369 Totsl m1•01￿￿ ¢hqrtlabl• ghflThJ L¢M." amount (*•rlle￿ to wpportfvnd Total mknh)nary ¢hathabl••Mno pw lh• P•Je 19 GRACE CHURCH BATH IA Charltable Incorp￿￿ed Oryanlsatlon) Note8 to the Flnanclal Statements lorthe yearended 31 December 2023 (contlnued) 13 STAFF COSTS STAFF COSTS Staff co*8 F4kl ty GCB durirvJ tha accountirvj pen&J *we as fadrtion to c•ntritthi￿tO A611￿ndIary p#¢k•Je wss 8kn ￿k1 to th¢ knx4&te th¢ CfvJr(* CcmMl&s￿n¢rn roll stip2rd £24,293 Ilull year eqU￿￿tI, adu81£13,tr24 in pxt irs the year, In **lthon to wntMbuOon8to defined t¢neflt Fendon scheme. Grace Chur¢h Bath wntribut*J £14.216 kn the yearto cover these ¢x)6ts and Ih? Nl 8nd pen￿On ci*S bythe Baih Welk C¥oc888n etrard ofFlTrBnce. 14 PENSIONS Grac•Churth nct ￿rt5￿pate h any xheme as not emF*Jy any staff up to the end 2023. Staff Ire ern￿oy￿ ty th? PCC tyf Bath WestoTr St th)hn, exr£¥rt lorthe current mfinWy staff *tto, ckwy, h emK4oy•J by Ihe lJo¢e¥e of 8ath aTrJ Wel* siaff cthts are r•thargbJ tothe ¢h•nty18ee note 131. Th• PCC of8ath Weth 8t John ￿l￿•t¢s4￿th* per￿ &Jlkter S¢*eme IPen*on 8ulVJer 2014 se¢Uonl of the Chwch Wtykers pe￿On FuThJ ICWPFI for lay *aff. CWPF b •jMin￿ler•j by Chur¢h of ErYJlatKI Perri0￿ 8c4rd. hoth the CV4FF ¥#•et•tyrat•ty from thxe oltr* PCC of We*on St. John and clher porti￿pating employers. CWPF h*kntryJ 8eL*kfB'. a. a delerrvd annuty kno￿ 89 Pe￿On BuikJerClau&v, and b. A ca&h balanx section as Perfyon Buihyer 2014. Pen%on Bulhler Claw 8 pertsbyn. ac>>JmuL8t•Y from c¥>thMtioro pgpj and converted Into ¢Jefwed annuty durirvJ eM￿0yrne￿ bg¥•J on term& ¥et arNI rev￿￿ ty the Churth of ErylaTrJ Pen￿On8 Board time to time. Ow¢bonary inc¥ea8e8 may ab) be deF￿"r￿j on In¥e*merrt return8 and PerA*n Bulkler 2014 IB a cash t*tK* ￿*￿Methat W￿ld1$ 4 lump sum memt•s to provKJe benefits at retirement. Pon￿Oft ￿￿￿tYjI1￿ are recorded in an account fertrach rnember. D￿retknary bon[￿ rnay be belore rebrement, do￿￿j1￿￿ on Investment retu￿￿ and ther factorn. The accoun( plu8 any b)n4w dedar•J, r6 P8y8ble, urTrauc•Y. from •38 65. Pffje21 GRACE CHURCH BATH (A Charlt•bl• In¢orporatod Organl•atlon) Nots8 to th• Flnanclal Stst8m•nts for th• year onded 31 Dec¢mb•r 2023 Icontlnuod 14 PENSIONS l¢¢*￿dI The *h•mB ￿ cortsthr*S to t¢ ¥ nvJMwFW>*me a de￿￿t*j in Secthjn 28 of FRS 1W2. Th4& because P￿tle to 8ttributethe PeMoTr &JikJef S¢hemeb asBets aTrJ Iiats"l￿"e8tO speth'l emWoyeTr anol meortsthat contrftthknns are acthunt•J for 85 If the S¢herne were a defined contdtxrtlon *eme. In Ihe afxountsofthe PCC ofBath Wethn St. John, Ihe pen&iorts charged to the SOFA Sn thè y*ar are th8 ccffjtrlb￿ p•y•trAe (Xy￿. t1.275,' 2￿. £3,2OJI. A ¥￿U8t￿n ofthè P¢rwon &JihYer Schernè out 0￿8 avery Ihr•e yw. Th• moot ￿nt was out a at 31 DacembÈr 2tr22 For the PerrioTr ￿l￿￿erCIa6￿c 8efAon, the ￿22 valuatlon reNtalad a W[F4￿ of £34.8m on the orqoirva a85umWorts w&. At Ihe mc*t recert annual reN7ew effeLtr 1 Jwnuary 2￿4. Ihe PJJar(l ¢hc*e to grant diBcretionary of 6.PA to t(rth pen￿￿ yet in payment aThJ petyon8 in Fayment in re•pec* of 8aM¢e pr4)r to ￿1 1997., arxl # ix)nuB on In F•yrr%nt In re6FeCt ol BeNce 80 th&t th* pe￿iDn inc¥easewa& S% (where calculated tO8ed on InfSaUoTr up to 2.5YJl. Th foll¢Md imy1￿Me￿ in th6 ￿ThjIT¥ ￿r 2￿23. Thwe ￿ no rwuwemert for deficrt wmet)ts at the current )'me. Forth• P￿￿IDn 8ulk1er 2014 tection, the reVea￿d a 8uNoof£8.5m on the owdrq aBwm*onB There ts no requirement foFdefi(at payments at the currenttift The nex1 Valu￿0￿ hduè •$ ar 31 tkc•mber2ry25. The leg81 stiudure of the scheme Is wjch thai rf another emtAoyer faits. thtr PCC of 88th We&ton St. John ewld be(>xne responwtée for a share ofthe employer8 Fe￿On Ilatslth'es. A8 8tsff are a empbyed on behawol Grace Chur¢h Bath18ee ncte 171. the chaw coukl ako bemme reVrBI￿a lor F4yirvJ part of th￿sh#re. The ￿￿ent min* *8ff membe¥, eTrWoytr# tythe t*"oc888 of Bath aNJ Wdls, like othar faergy mernt*roYtho C￿r¢h of EnglaTrJ FuThJ￿ PerthSc*eme ICEFPSI. 15 TRUSTEES. REMUNERATION AND EXPEN 31.1223 31.12.22 Rev M F•rrt¢r IP•#cfjl Mr M Cra1￿ (Lsy Reader) Mf V Padiachy Mrs R 8eat*)mt 1,144 712 767 Th888 amotsnts￿re in r88pect of Ihe f&1M￿TreMent of co&s paky le.g. offKe equlF¥neni church runnir¥ costs. rnit&on t￿1$) aThY exp8fi￿ caftwrg out thwrdutie8 on tthaN of Ihe chanty. P4e 22 GRACE CHURCH BATH (A Charttablo Incorporated ￿an111t11)nl Notes to the Fln•nclal 8tatem•nts for the ymr •nded 31 D•cemb•r 2023 {¢ontlnued) PARISH SKARE t•th• COMIAON FUND UrKJerthe term¥ oftr* Diotese of Balh and Bthoty8 Mwon Orde¥datwl 9 Fetvjary 2021 that eTrJor8e& aryl makas wovwon ft* Grace Church Bath, in c¢wtstson wlth the Common Fund Commftt•e of th& 8•th aThJ Wèlb ￿0C8san 8oard ol Flnanc%. (kne Chwch wll aim to tske full part in the common fund Echeme for 6hare after 3 yeaTr from tsdate olthb order. In the meanl'ff* Ma￿￿a voluntary Contri￿11>￿$ in lieu of parth share. bas•J on the numberof g￿￿. No conldbutiortrav*re m•ae in the year 31 Ewmbar 202312022". £nill. 17 RELATED PARTY TrANSAcn(hNs The PCC of Path Wethn 6i John b a pgty ofGr3ce Chwch 8ath. The frAkhirvJ key m•nwwt F￿￿onn￿ Church Bth 8re TrU8t￿ ofth• PCC of Bath Wethn St Jcthn.. M. Fant8r. PaDtor (Trithe aThJ rr*mt¢r of Le•Jar6hlpT•aml . CrairN Lay Rethr (fr￿1 In •sa￿Ort, the Idloww ern￿Oyee ofthe PCC of Bath st. John to fortha ehari G. Jordan. Tr•awrer arKI kniink**ortr¥ Pathr Cc•ts Incu￿ed ty the PCC on behawof GC8 are recharg¥J to GCB under a Memorar¥aum of UfvJ¢r*aTrJlrva. Th1• include8 eM￿0y￿ent (to SeFlerrter 2ry23.. 60% of W Irorn Oct¢èer Tr23. 80.7Phl and 50% Of￿ co&$ of runnlrKJ the ￿ar￿j ¢)ffic• at Emmanua81 Chur¢h. GCB paKI r6ntto Ihe PCC forthe uue olst Church aunrva Ihe year. The amounts recha¥ged by th• PCC toto ¢X8 kn the ar• ￿￿￿]•$ tn iry]￿bjUol C06t Ilnej and cornpnBe. 31.12.23 31.12.22 SaLryrie4 ￿e8 & hoTKJraita aergy & *aff e¥en•eB Rent Church runnlng & M￿n¢t￿alK• 9,350 11041 2.tr2S 21.117 2,575 757 12,4eg P¥8 YJ