Rqlstered Charfty Number. 1192822 {Enand and W#le51 GRACE CHURCH BATH (A Charitsble Incorporated Organlsatlon) Annual Report of the Trustees and Unaudited Financial Statements for the year ended 31 December 2024 Independent Examlner: Mr L Whatllng 11 Orchard Close St. Ippolytes Hltchln SG4 7RH
GRACE CHURCH BATH (A Charitable Incorporated Organlsatlon) CONTENTS OF THE ANNUAL REpoKfoF THE TRusfEESAND UNAUDfTED FINANCIAL sfATEMENfs FOR THE YEAR ENDED 31 December 2024 Page Reference and adminlstratjve Information Report of the Trustees Statement of Trustees, Responsibilities Independent Examinerfs Report Ststement of Financial Attivities io Balance Sheet li Notes to the Financial Statements 12-24 Page I
GRACE CHURCH BATH (A Charitable Incorporated Organisation) REFERENCE AND ADMINISTRATIVE INFORMATION CHARrri NAME Grace Church Bath REGisfERED CHARITY NUMBER 1192822 (England and Wales) PRINCIPALA14D REGlSfERED OFFICE Emmanuel Chur¢h Apsley Road Bath BAI 3LP TrUSTEES Trustees who have served at any time from the beginning of the accounting period until the date th report approved are: Miss Amy Cousley lappointed 18 July 20241 Mr Michael Craine- Lay Reader Revd. Michael Farrier- Intumbent Mr Bruce Gardiner (appointed 18 July 20241 Dr Gaston King Mr Vighnesh Padiachy, Chalrrnan Mr Kevin Purkiss Miss Anna Rew Iresi8ned 17 June 20241 Mrs Rachel Seaborne Miss Shona Stewart (appointed 18 July 2024) MEMBERS In aecordance with the constitution of the Charitsble Incorporated Organisation, the members of the CIO shall.be its charity trustees, who are the only persons eli8ible to be members. Page 2
GRACE CHURCH BATH (A Charitable Incorporated Organisatlon) REFERENCE AND ADMINISTRATIVE INFORMATION ICONfD) MINisfRY LEADERSHIP TEAM Those serving on the mlnlstry leadership team at any time frorn the beginning of the accounting period until the date this report was approved are: Mr Andrew Close (from 23 May 2024; reslgned 4 Marth 20251 Mrs Joy Craine- Elder Revd. Michael Farrier- Pastor and Elder, Chairnian Mr Bertie Kennedy- Elder Mr Jonathan Salisbury (from 14 July 20251 Revd. Francesca Youings Mrs Gillian Jordan &4NKERS Natwest 24-25 Stall Street Bath BAI IQF INDEPENDENT EXAMINER Mr Lewis Whatling 11 Orchard Close St. Ippolytes Hitchin SG4 7RH Page 3
GRACE CHURCH BATH (A Charitable Incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2024 The trustees present their annual report with the financial ststements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102, effective l January 20151. The constitution of the Charitable Incorporated Organisation, dated 7 October 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). AIMS AND PURPOSES The objects of Grace Church Bath, Charitable Incorporated Organisation, as approved by the Charity Commission. are to advance the Christian faith in the Bath Deanery of the Church of England, Diocese of Bath and Wells, as the trustees may from tirne to time think fit including through providing service5 for prayer and worship and pastoral care and outreach into the community- OBJEcfivES AND ACVlEs Grace Church Bath Is a Mission Initiative, endorsed and provided for under a Bishop's Mission Order dated 9 February 2021. The order VRS made by the Bishop ofthe Diocese of Bath and Wells under part 7 ofthe Mission and Pastoral Measure 2011. The objertives of the Mission Initiative are to prornote the Christian faith and the common g¢)od. and to plant a new church community initially specifleally foeused on families and others who are imparted by Sunday morning sports, or for whom an afternoon expression of worship Is more appropriate. CLERGY Revd. Michael Farrier is the leader of the mission initiative in accordance with the Bishop's Mission Order. He has been in post as Priest-in-charge of Emmanuel Church, St Nicholas Church Kelston and Grace Church Bath slnce his licensing in February 2020. The Bishop'5 Mission Order a150 names the visitor of the mi55ion initiative as the Ven Dr Adrian YouirYdS, who was the Archdeacon of Bath until 17 June 2024. The Revd. Charlie Peer took on this role of visitor when he became 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 AND SPIRITUAL LIFE Grace Church Bath has continued to serve our mission aim of rea¢hin8 the sports community of Bath with the gospel and being a church family to those for whom 4p.m. makes belonging to a church possible. This is in Ilne wlth our Bishops Mission Order. Our commitment to the authority of Scripture in all matter5 of Ilfe and faith shapes all that we do. This year our all-age teaching series focused on I Corinthians, Nehemiah, and a topical series on Christian hope Page 4
GRACE CHURCH BATH (A Charitable Incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2024 (convd) WORSHIP ANO SPIRITUAL UFE IcoKfDI called 'Hope Chan8es Everything,. The Corinthians series enabled us to address some of the theolo8ical disputes that exist within every church and highlighted our commitment to tsckle difficult subjects together and learn how to disagree well. In Nehemiah we reminded ourselves of remaining 'hyper-focused' on the particular work that God has called us to. Our series in hope helped us to lift our eyes from all aspects of life on earth to see the confidence that we have in our Lord Jesus. In the summer we enjoyed 'Son-Bathin¢ as we spent slx weeks looking closely at the person and work of our Saviour. At Christmas we explored the question What do you want for Christrnas?,, discoverin8 tO8ether that every longing we have is finally and fully satisfied in the gift of the baby in the rnanger. With 'serving those who play sport on a Sundarf as our focus, we recognised that at time5 even 4p.m. can create a conflict with fixtures. We experimented with The Warm-up, as an 8.15a.m. offering for people who wanted to stay connected with the Grace Church family on Sundays when they would not be able to get along at 4. We trialled this for three Months and, whilst warmly appreciated by those of us who attended, it was deemed to be unsustainable. Among other things. this demonstrated our ststed desire to be a church that enjoys the freedom to try new things outl A highlight of the year was bèptising six adults in a special service in May. In addition, our'Away Fixture, at Oldfield Rugby Club in August and our various Christmas services (including a Christin8le and a Carols Service) enabled us to welcome manyguests and visitors through our doors. 'Sparks', for children In Reception to sch(x>l year 6, and ?-Up', for children in school year 7 and upward5. were a core offering to serve the younger members of our church family. These regular group5 provided fun and fellowship for Grace Church family and their friends. In addition. the haTd work of many volunteers provided the Sunday teaching and hot meals that serve our children so well. Once again, the women in our church family enjoyed a day of fellowship and teaching in March. We said farewell to our student leavers with a 88Q at the Vicarage in May. and we enjoyed a church family summer BBQ with food and games at the home of one of our members. In addition, trips to the Virtoria Kitchen Pub became an established way to continue our fellowship together after the Sunday gathering at Grace Church. The number of committed regular worshippers at Grace Church Bath as at Febnry 2024 was 10312023: 861- Of these regular YrshiPpers, 38 were students12023= 39). CHURCH BUILDINGS 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 othepwi5e no ongoing worship. We are grateful to God for the provision of this opportunity. PAsfoRAL CARE A total of 6 people lall adults) were baptised during the year. The Bishop's Mission Order does not authorise the solemni5ation of marriage. Page 5
GRACE CHURCH BATH (A Charitable Incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2024 (convd) MI5510N AND EVANGEUSM Having estsblished our priority, to focus on meeting people on their turf more than on ours. it has been great to see an increase in outreach that is generally more 'out' than 'in'. The growth of sports and leisure- related group5 has played a significant role in thi5. This ha5 principally been through the GCB Padel Group, with this acting as a blueprint for other groups now beginning to emerge. Our flagship Christmas servlce. 'Carols at the Rec,. saw over 2.000 attendees come and hear a clear gospel presentation in the heart of the city on Ilth December. This was hosted iointly with Widcombe Baptist Church, who had also partnered with us in holdinganother Roots of Jaiz event in April. Theyear had started with an Alpha Course vthich. despite a limited uptske, ¥fdS a valuable time ft>r those who tske part. The inaugural 'Holiday 8ible Club, was hugely successful in gr¥in8 our children an opportunity to invite friends. which they didl Well organi5ed and 5UPPOrted by a swell of volunteers, our prayer is that thls outreach event wlll now become estsblished and grow as an annual offering to our young people. Other evangelistic opportunities included the Chri5tma5 Wreath-making, event, the Family Fun Day on 13th July. and a Padel Day in May. FINANCIAL REVIEW Totsl incoming resources for the year were £129,43212023.. £124,498) of which £19.129 v$ restricted for the purposes of funding admin hours or renovations to the building of St. John'5 where Grace Church Bath meets. £85,434 was unrestricted voluntsry donation5, mainly regular giving by dirert payment to the bank account. £17,544 was from Gift Aid on those amounts, £4.304 was interest received, £1,966 comprised payments received in respect of Inon-fundraisingl evangelistic church events and £2,702 was other income mainly relating to costs shared with other ¢hurche5. In 2024, the amount of voluntsry income (excluding grants) given by trustees. including Gift Aid tax recoverable, was £27,705 or 24% of the totsl amount given {2023: £39.301- 35%). Expenditure comprises mainly salaries, Diocesan parish share. running costs, mission and evangelism costs, missionary giving and ministry trainee bursaries. At the end of the year, reserves stand at £174,728 of which £138,535 is unrestricted funds12023: £164,207, of which £101,357 was unrestrirted funds). Unrestricted reserves are significantly higher than the three months of unrestricted payments required by the reserves policy {see below). It is foreseen that these will reduce significantly over the course of the next few years with increasing min15try and building costs. RESERVES POUCY The trustees. policy on reserves is to try to ensure that income exceeds expenditure in any given year and unrestricted funds are maintained at a level that allows the trustees to tske action in the event of a cessation of a major part of its voluntary income. In particular, they aim to mèintsin a balance on free reserves which equates to at least three months of unrestricted payments. in order to be able to smooth out fluctuations in cash flow and to meet emergencies. Page 6
GRACE CHURCH BATH (A Charitable Incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2024 (convd) DEANERY SYNOD Two members of the mlssion initiatFve sit on the Deanery Synod fof the year. This provldes the church with an importsnt link to the wider structures of the Deènery and Diocese. srRucfuRE. GOVERNANCE AND MANAGEMEffr Grace Church Bath is a charity, registered 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 Incorporèted Organisation vthose onty voting members are its charity trustee5. Trustees are responsible for making decisions on all matter5 Of 8enLYal 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, includin8 the Treasurer. Trustees met 5 times during the period with an average attendance of 76 All those who attend our services are encouraged to register on the Mission Initiative Roll of Grace Church Bath. STAFF AND VOLUNTEERS As ever. the volunteers who serve 50 generously and regularly at Grace Church enable everything included in this report to happen. and so much rnore. Our understanding of our dependency upon God is often expressed through our willingne55 to Serve Him as we serve one another. We are also very grateful for the hard work and dedication of all our stsff team, who give such energy and effort above and beyond their'hours,. Amy Cousley's support and development of our children and youth ministry during her university placement and Eadaoin McAlea's cornmrtment as our MinistryTrainee, across creche, children's work and much more, have been incredibly valuable to our gospel ministry. We were a150 delighted to appoint Sam Eaton ès our part-time Operations Manager and his contribution to the development of Grace Church Bath has already been immense. RISK MANAGEMENT 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 Board of Trustees on 2 (ktober 2025 ond signed on its behalf by: Mr Vighnesh Padiach 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 appli¢able law and United Kingdom Acwunting Standards (United Kin8dom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Aet 2011, Charity {Accounts and Reports) Regulations 2r and the provisions of the Church Accounting Regulations 2006 require the trustees to prepare financial statements for each financial year which give a true and fair view of the stste of affairs of the charity and of the incoming resource5 and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial staternents, the trustees are confident that they have: Selted suitable accounting policies and then applied them consistently: - observed the methods and principles in the Charity SORP: - made judgements and estimates that are reasonable and prudent: and - prepared the financial ststements on the going concern bas unless it 45 inappropriate to presume that the charity will continue in busine5S. The tru5tee5 are responsible for keepin8 proper accounting records which disclose wtth 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 21))8 and the provisions of the Church Accounting Re8ulation5 2006. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the Board of Trustees on 2 Ottober 2025 and Signed on its behalf by: Mr Vighnesh 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 2024 Respectlve responslbilitles of the Trustees and the examlner The charity trustees are responsible for the preparation of the accounts. The charitvs 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 Charities Act; to follow the procedures laid down in the general Directions given by the Charity Commission (under section 14515llb) of the Charities Act}: and to state whether particular matters have Corne to my attention. Basis of independent examlnerfs statement My examination wa5 carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accountin8 record5 kept by the charity and ¢omparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations frorn the trustees as concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audi¢ and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is Simited to those matter5 set out in the 5tstement below. Independent examinerfs ststement In connection with my examination, no rnatter has come to my attention: which gives me reasonable cause to belleve that in any material respect 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 atUnting Tequirements of the Charities Act 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 71q/2015 Name Mr Lewis Whatling Relevant professional qualifications or body lif any): ACCA Address 11 Orchard Close. SL Ippolytes, Hitchin SG4 7RH Page 9
GRACE CHURCH BATH IA Charltabk Incorporated Organlsall•)n) Stat¢m¢nt ol Flnan¢lal Actmtlu lorthe y•ar ended 31 December 2024 TOTAL Fur Fund• Fur 31.1224 31.1223 Nt• 10 INCOMING RESCWRCES Vduntsry incun 102,978 17.4V2 120.480 If8,V29 IwlU•s for genwauw bjnds InMm8 from invethn 2b 1657 1,647 Ine•m• fr•Tn thurth 4(thifj 2.370 2d 2,702 171r2 3,199 TOTAL INCOMINO RE80URCES 110J)3 19.12• 129.432 RVJOURCES EXPEPIDED Exp•nd1tur•. Raisiw fund• 128 chUh •¢*MY 74,085 114783 84,713 othwèwdhure TOTAL RESOURCES EXPENDED 742tl 7WJ 64736 NET INCOMINO RE80URCE8 (2S.$711 lo21 89.762 11.wl NET MOVEMENT IN FUNDS 37.178 128.8S71 10Xq Rocondllatlon of funds: Totsl fund• brougm forn•rd 101JST T4ts1 fund• forwwd 131,535 30.1•3 174rn1 flqurn• forth• Indmdual funds •w• I1 Ih Nfth 10t• 12 Inelu•l¥ Pog• IO
GRACE CHURCH BATH (A Charltablo Incorporatfjd Organlsatlon) Balance 8hoet a• at 31 Decamber 2024 31.12.24 31.1124 31.12.r8 31.1223 T•ryJ1e rj a••ets lftve&trnents CUIIREvf ASSETS 24,037 23,675 C88h at bank8ThJ In haThJ 161.n4 159,826 183.T11 UABJLMES JIrrtaIaIIIlvJ du8 cne year 15. 2&863 NEf CURRENT ASSETS 170.275 15r,038 174.rn 164W7 FIJNDS 138.535 101,3S7 ,193 TOTAL FUNDS 174,728 164207 ved ty the TvAteeBon 2 Oct¢Jbw2025, and gyned on it¥ behaw by. MrWJhn¢th P•Jlaehy IChalm)aAI Gllllan Jordan (Traawrer I P4e 11
GRACE CHURCH BATH (A Charlt•blo Incorporatod Organl•atlon) Nots• to the Flnanclal Ststwnenls forthe year ended 31 Docember 2024 1 ACCOUNTING POLfciES Th ffnan¢4al &tamants ten weForJ In acCOrdar with FRS1W2. The ffnancfjal 8t8tsmerts ha k¥epgr•J urJerthe hthrical ciyl £xNenbon ex¢rf fortt lu400ft ol inbwtinert a8Bets Iilznyl, whth are Sh at markrtw4lue. The finandal thtemeftts Indude all transact5. aTrJ lIale5 lorvthi¢J) the eharlty kn resw)nsltle in law. They do not Indude the accounts of thurch grFthat their m•n affillation to another b)ty. rvx thc4e that are Informal gathellrvJ8 of church membe¢B. Thè nn8n¢lal &atements ha% been FOrj on the goi te¢ern 8TrJlhe TnAee•qr• wFre of afty r¥awn¥ thi& v4 not aWicNo. The Èarlty b a Put41c Benefft Erty. Fund• {R•Mpm) gnedY manooement aecountsknthich én8L4e thèm totrad( expeThYttura ver8Us inwme rece. The charty ai In Bny one yeaT not to have expenditure exce8diNd Income. tt ako 81ryoto have unrestriGtsJ fvrth at a th alhm the Tru8t8es to take action In the event of a ceusthn of a Maj of ts Vduntary Income. on tho wfl¢ ¢bJ"ocl or puFpt• f¢r whKh theyregn. Any b8lanc• Fernairrtrva urwnl atlh• •nd of •ach y•ar l& carried foThvard as a bo18nce on that fund. The thanty doe5 not inve sep4rately fer each fuTrl In the e¥ent Ihat En¢hjTrMtFIu reKYwentth)na14otK re¢eNed by vtay of an erK1trwment. These rnyht be erther pe[manenter0Tr, ere the ca1 mLMt be hebj permanently bythe chanty tmjtthe income a[r$ can be asthe gees •xp•ndablo •ndrth•nt4 •r0 Loth th• ¢aF¥tal and th• inMm8 wed by tho ¢h•rity fw wrp)M In¢omlng R•8oufC•S Planned glrJ, collect%Th aTra donatiorrt ar r¢(a%tsJ. Tax refunds are rectgned when due. Gr8nts are acLwnted for whenthe theiity Wlty enUtyt•Y ttsthe •mwnts d. Interest IS 4x¥ued LdeS are taken Into accountwhen rece. Obler Income r8 reccgnwl when it Y6 roceivatl•. AJI in¢¢ming r¢•¢ur¢w ai• •c02unted forg¥c48. R••ovr¢•• Exp•nd•d Grants aTrJ donatkrrf are acfthjrthd forwthen ] o¥er or wknen The Diocn rtsh $ha k* accounted for%then due. l Other eXrtUre generally fecoanvL&J it inr#j8d. P•Je 12
GRACE CHURCH BATH (A Charltabl• Incorporated Organlsatlon) Notes to the Flnancl•l Ststemonts for tho year frndod 31 DKombor 20241contlnuod) 1 ACCOUNTING POLtClES Ic4mfdl Flx•d AM•ts Èquirthent and furniture t#xyht and bythÈ charty are dtswe&a on a ht41ne ba81& overfoufyear8 leroverthree years in the c88e ol music, 8J10VaI aTrJ IT equient aThl years In the ca88 of rnotile one81. ex¢ekwher Ihe charity has plan5 to of an asset earfierthan exFect&J or before the end ofthe assets eadk?r e8ts"mated Ilfe When thlg ts the ¢xe. the astet ts Illen do to ts net reaitsat4e val. Indmdual a pJrth08t FYi¢¢ of than £250 are Itten ¢iff Investme Irf anyl are valued al marketvalue at tha ervj of the acwJntirvJ pencd P•ae13
GRACE CHURCH BATH (A Charltabl• Incorpor&tod Organlsatlon) Nots8 to tho Flnan¢lal Statfrmonts forthe year frnded 31 DKember 2024 {¢1)ntlnued) TOTAL TOTAL 31.12.23 FuThY 31.12.24 t•lO Ncts11 2 INCOMING FUNDS 21 Vduntary Income Planned gthrvd". GThl Ak1ed donatio 67.107 17.544 17.407 67,107 17.544 17.407 $7,311 15.448 12.680 Tax re¢¥J¥eraN¢ Other Collec¢rts and Sumup Gbft day8 lin¢ Glft Akj Q4751 Grants Donation8. apFeab atc. CollectrorB for (note 121 Legacie 12.402 11482 24.590 345 1019n 17.482 t2080 110.929 2b In¢mlrom In¥ulmants: Èvonts InofvfuThJral 1702 3.199 TOTAL INCOMING FUNDS 110X3 19.12 129N32 124496 3 FUNDS EXPENDED J• Ralblnq lund 126 128 3b Church xllvltl•¥ Mwionary & Charae gra Dlceson parth shore SaL8rf¢s, w488 & honorar58 Clergy & Dtalf eypenseu MOn & evangel ccdB Church runnlng & malrrtenanc• Ccols of trading Maj¢Yr reFalr8 to church tyJlkJlThJ tyepreaation of churth WUlFent Mln* traIr t[lane¥ 8.543 17.648 54.587 4.126 6.776 14.CKJ3 2.490 942 17.648 10.811 4.126 6,Tl8 14.W3 2.4 43.7S 11,598 3,521 6.167 118.783 2,575 6.167 84.713 TOTAL FUNDS ÈXPENDED 74311 7ty) 110,M1 P•w 14
GRACE CHURCH BATH IA Charltable Incoryborat¢d Organl•atlon) Nots¥ to th• Flnanclal Statements forth• year ended 31 Decemb•r 2024 (contlnued) Unresth(Atd Funds Re8lrifl¢d Endtyhinent FuTrJ& FuTra8 Trtal 4 TANGIBLE FIXED SETs at l January 2024 on8 at cost 11.417 1.405 611 12,211 11.417 Dw)Ba at 31 Doe1r 2024 611 12,211 DEPRECIAnON at 1 January 2W24 Charge for the year 4.848 3,521 611 7,758 3,521 611 7,758 al 31 Oeeemter 2024 NET BOOK VALUE at 31 De¢ember2023 FtKed a886ts c4JmpTre 1C, 80und aTrJ audKwJal •]UiW6nt purch88•J fu durrfMJ ser¥ice4 8&ll aB a moble phor for uue by the PaL¥. 31.12.24 31.12.23 S DEBTORS Tax re¢oveFatAe Prepayments and accru•J Ino)ma lJherdetknr8 20.019 4,018 19.855 075 31.12.24 31.12.fJ 8 LBILEs Amounts falliry due in one year. Accnjal fer mBwonary gmng to third Par08 SupO0rt fund Ire8trict&J fund¥- notes 8 8TrJ 111 Amourrt due to Bath WeFlon St John PCC Isee note 171 other ¢yJttors an(1 a¢cruab 5,493 7,108 6.273 11.176 Ptye15
GRACE CHURCH BATH (A Charltable Incofporated Organl•atlon) Nots• to the Flnanclal Statemenls forthe r •nd•d 31 Dec•fflb•r 2024 {¢ontlnu¢d) 7 FUNDS IRESERVESI RESTRICTEO FUNDS 31 OeGOmber 2024. th• restrkted fuTrJ& Mlnl•ty hours lund During 20Z2. 0 grft day wds hekl forlhe rPe of rrvJ nle8t0 fuThJ mcfe mifft gFeuftafywlth a Vlew to •rnptowNJ an knodate mInter. An aFwntment to Ihi8 WaS made in 2023 the re51rided fiJrKts In th1& re&erye are being uble4 accordingly. In lon. anrtheTgift day wa5 in 2023 forthe rF8 of Taa monies lo bJTrJ mlntsty hour4 With the fund8 bwrvJ athJJ to ra4rict•J fuTrJ. Thegrft ¢Jay h&J 2024 nL hekl ftsrth purythe. mln hCrn tund Grantswere recerwJ duri 2tr22. 2023 and 2tr24 Irorn St Hetents Chuf¢h, 8lshorwJate forthÈ Wfw8e offvndirvJ more admini8tratNe hourB. There wa8 a myest increa5• in adMIntrate hout6 extsng Fer8Mnd durirg 2W23 aTrJ the restricted fund& in re8erwe ale Èeing ed to fund the eth houNs No apwirthent of ath1thrsal peTronnel wa& rrtado during 2023, t¥Jt an Operatwo Manager apwinted and started %wrk durwo 2024, the cc•t8 of whom are akn) t¢iT4 funded bythe grant Mon in IhY8 fund unbl Ihey are lulty ublBed Supportfund The Grace Church kn•Jmhiptook th• in ety 20YJ tts ¢re¢ a to WJFWrt Marr?0fthe L>xyregation o have t¢•n imwthj bythe ¢t of uthis. created by aFpxh"oniTrJ oTh)thi ofthe mwonary fuThJ6 that had been accrued In resFeCt of2020f21. Dunr#J 2023 and 2W24, wme of the•e ha¥ be8n I Ihk8 purp. indudiTrJ SUPF¢rting chikjren to atteTrJ ChIn 8umrnerc4mp Bulldlng fund A'bake4ff comFdlUon hell In churth In earfy 2023 wilh rawj lor fulure fera01the St Jildirs there Grac Churth Bath me. In 2024. a ghft dayw a0 held forth aTrJ the mon6 a10 thi• restrffled fund. ENDOWMENT FUNDS There are no endtrmientfundB. Detai ofthe nV•ments kn th¢ unre•tJkd rÈthctèJ aregNan 10 11. ANALYSk8 OF NET ASSEfs BY FUND Unreicted Futts Trtal 31.12.24 FuTrJ& FuTrJs TaTrJIe 4.453 Cuffent 08gets a188 fallir¥J due within one year 149,358 15.276 138.535 36.413 185,771 15. 174728
J.193 g FINANCIAL CommMENTs There are no financ401 oJmrnthents• at 31 DemLr 3)2412023 £nHI. P4e 16
GRACE CHURCH BATH {A Charttable Incorporated Organl•adonl Nots• to th• Flnan¢lal Statements for the year •nd•d 31 Doc•mr 2024 Iconttnu•d 10 UNftESTRICTEO FUNDS Genéral GtnÈrl 31.12.23 31.12.24 INCOMING FUNDS Voluntsry Incom• PLqnngJ gMrvJ'. Grft Athl donallo Tax retr)Ver•e other 67.107 17.544 17.407 ST,311 15,448 12680 Collectr)ro arx1 Sumup GWid4 Grants Donation$. apwab et¢. Collecttora lor M01 (not¢ 121 Ltyaci85 102.m 730 irteret 1657 1370 3.199 TOTAL INCOMINQ FUNDS 110J)J FUNDS EXPENDED R•l•lng lund 17 74.085 49.561 TOTAL FUNDS ExpeNOED 74211 N6tgalNlc48881 on In¥ethents NET INCOMINO FUNDS 42.n1 Tr•r6ferbetr4%en fv NET MOVEMENT IN FUNDS 37,176 BaLqnce broWtffAward 101.357 57,754 138,555 101J57 Pape 17
GRACE CHURCH BATH IA Ch•YltafAe In¢orporntod Organl•atlon) Note• to the Flnan¢l•l Statements forthe year ended 31 Do¢ombor 20241¢ontlnued) 11 REsTRTED FUND8 Ministy hDU Fund Admin Iwr¥ Fund 8ur.wiry Fund Fund 31.12.24 31.12.ZJ INCOMINO FUNOS Voluntary IrKom• •nn¢d gmnll". Gift dj donakn¥ Other Coll•raions •nd rnup lsnc GThl id Q.4751 12482 12.482 24,590 Grants Donations, •pp•Jh etr. Collectn8 for Mi8Éloni (not• 121 L•yci•s 12A82 31199 1341 1.847 E¥•ts Inorthndr•i5inyl TOTAL INCOAIINO FUND8 12.485 19.121 )2.191 FUNDS EXPENDED Ral•lrg bJnd• 13,202 15.152 TOTAL FUPIDS EXPENDED Jo¥• 13302 15.118 gaInlLaI on In¥rtatrénts NET INMIN0 FUNDS 11y1 17NI 11,0&31 11,0861 10821 NEY MOVEMENT IN FUNDS 1lm21 11.541 128AS71 16.139 8Al•rK* htfolrI 47.371 14.(fj4 48.891 11 193 Peg8 18
GRACE CHURCH BATH IA Charltabl• In¢orporat•d Organlmllon) Notes to the Flnanclal Statements for tho y¢ar ¢nded 31 December 2024 {¢onllnu•d) 12 MISSIONARYa ¢HARITAeLE GMN Toi41 by Ihecharlty er1nk8 2.750 1750 Il¢m• Mlulon• 4 ¢)th•r Chur¢h SoGi•lM: Grace Church Bath wkwrtfund Lux Youth Profjert 136 4136 A£¢r1 f¢F fir• mW0n•ryq1Thj. Chth"arA Tot•1 mL•¥tonary and chathalgI¥lThJ L¢w.' atD)urt chaw to prt fuTha Tolal ml8iknary and ¢harllabk gmnq pw th• Slat•mqntrA Flnanclql Acllvlt188 04J P4e 19
GRACE CHURCH BATH (A Charltable Incorporat•d Oryanlsatlon) Nots8 to the Flnanclal Statements forthe year ended 31 December 20241contlnued) 13 STAFF COSTS . STNFF COSTS Staff cc&8 F4J ty GCB (l11tyJ re¢horge•l durirqthE aci¥J.ng fdl¢M." 31 1224 31.12.rJ W4es 8j salari•B Social st¢urity ex 47.052 Z341 5,174 21.509 1.127 Tot•1 •l¥ff Qne staff memberrn emE4oytsJ ty the chty durirothe year12023.' no1. te1rvat oPratK Mw•Jer #orted. rf( in June 2tr24. Cther8taff memtérs are not eftWoy¢d ty th¢ rfsew. The 8tsff membw h emtyoyed ty thè PCC o18h Wefjton Si Jthn recoup Ihe rdvdarrt wowtion of employment cc6ts pJrtainirpJ to Grace Church Bath (to wwj September 2023.. 6&.. from OctoLr 2023 80.T7%1 fharge188 akn note t71. The minw staff m8mtr emr4oyd ty the of 84th L5P employment c•BIBVi8 a re¢harge. b. STAFF NUMeERS One member ofaif r&eMoYed bythe charity. txrt the of fyvo membeTr of em0Ya by fv PCC of 8ath Weon St John atxl by Ihe tMo¢eoe of eath ar¥1 WelL4 are akn recharged to the ch8nty to refiect theirtime swt carryirq outwork lor GAR Churth Bath. The Mae number of wrsoMe4rrwrvJ 0work10r Ibjth employ&J and not eMF10 by) Ihe durfr#J Ihe tW 31.1224 31.12ZJ mIntry 0rationS Pamanlstrn 0.59 134 The average he4dts)urrt ewewtsj as fulktimo •4ur¥alerrt8 Mlnlstry Operatior Ominotrnti'ty) 1.07 1.10 HIGHER PAID STAFF There were no •MFdOyThceetDl8I emFW8e benth lexdudlryJ perBM ccds) exce•Y*J £60,¢)JO for the year.
GRACE CHURCH BATH (A Ch•rltable Incorporated Org•nlsallon) Notes to the Flnanclal Statements forthe yr end•d 31 Decembw 2024 (¢ontlnued) 13 STAFF COSTS leorfdl d. KEY MAP4AGEMEMf PERSONNEL The key management F4Jf80nnel ofth• thanty th¢ Tntyteets. do not rteelve remunerakn for Ihelr role 88Tr(th5, and the Mlnkny Le>JwshlpTeam a& lted 3. The tclal amount ol em0ye benefits lilUd1r1j emtyoyer perthon contritsknAI pabl to key marwert perwnnel for their wve88 to the Charty wa8£28.21312023.. £13.¢Y241. Thme are k Creh eath harge(S88 bw r•. knoc1 Minthrl. A8Ipendiary F4ck¥Je was pahl to the Pastor c4herth¥n in caFacty as a tnAoe6hiA an ecdestiasbcal offe ho1derthroh the Church Cc4nmsl¢nern, a5 follo.. SInd £29.152- £30,638. actual £30,thI ih fftt in the year. In •JditioTrto contritsjtiomto A•tiFeThJiary pa¢We was to the P48ate Minthrtl¥oughtt Cl¥Jr( Cc4nmwMern a5 fclhY. Strwnd £24.293- £25,5 (full year WuanI). aval £25.222 In in the year, In athjliknn to contfibuDorAto defined pen8bn erne. Grace Churc Balh contntArted £30,554 In the yeafto th costs and the aslociated Nl and KMon costs Incurred bythe Bath and Dioce6an Board of Finae. 14 PENSIONS Grac• Church Bath became an eM0yer In June 2024 and 8yned up to the Nest pensitin etheme, a vthF4 rKrbon 8cheme set up by Ihe g¢)vernrnent. Ne8t Corporatw. the Trusteethat Nrsthe Nest fjthem•, corpJraOon and ts aL>xuntst4e to Parflament throLbJh Ihe OepBrlrnent fttwoth Pen8kn The NeEt 8cheft w a J8fm&J C¥)Nlrit¥Jts"oM8dwm•. Gra¢e Church h88 only emFJy8d on¢ memberof8t8frto date. The cttargJ to the SOFA in the #r are tha contht¥Aioro payable12tr24." £. 2.. £nlll. Omer 6tsff IcuFrenty one adrnInrati0n stsff rnernt4rl are 8mrAoyed by the PCC of 8h Weston St John. ex¢eO lorthe current minBty stsff memt¢rwho, as dergy. employ&Y bythe 0¢¢ee of Bath and Well& Staff ¢e419 are recharged to the cttarty ar in tha SoFAlbee note 131. The PCC of Bath Weston St ththn WbciFts In the Per1 Bulbjer S¢hem• BeLtion IPerm 2014 se¢tionl ofthe ¢hur¢h Wort8 Perth Fund ICWPFI for18y8t8fi CWPF b adminiBtered ty the Church ol EroLqnd Pen¥ons 8oart, %%fiich hohlythe CWPF asiets 8eF4ratelyfrtynlhre ofth? PCC al 80th We st. John and other Part[Pa"r¥ emtyoyers. CWPF ¢tIOnS.. 2. the PeOn &Jlh S¢heme. whith hastsfj Sut•ect. a. z tjelerred annuty ¥ecthon knEMI as Penon 8uik#er Clw b. A ¢ash tqlance 8¢¢Don kno as Pen8kn BuiSaer 2014. P8n•lon Bullder Schèmp Both secbons ofthe PeOn Bu10r S¢heme ar• JBdefineoJ xhem P4e 21
GRACE CHURCH BATH IA Ch•rttabl• In¢orpornt•d Organlsatlonl Notes to the Flnanclal Statements for th¢ year onded 31 D¢cembor 20241¢ontlnued) 14 PENSIONS I¢r) Pewn Builder Cla¢ wowde8 a On. accumulated from eontribjtiots and Ix)nvert&4 into deferred annuty dudwd emFqoymtnt based on terntsset and reiEwed bythe Churth of EroL8nd PernJr eoard from tirrtto 'me. Dwetionary Increa8e6 may a180 added, deFefvJirvJ on Invè8trnent r¢turM other factw. Pe0 8uihlerX$14 va8 ca&h balance 8ch¢me that FYovk1e• a lump wm mtl e to benefiL8 * retirement. PenBion contiitrJbon8 are record•J in an account fcr88ch rnember. Drewry inuBes may i •Jd•J lOre retsremert depaThliNd on invesiment rèbJrts atsj other fador The 4x>Jun( U8 any b)nu888¢Jedared, payae. unrtduc&J. from age 65 There * no sutrfrdNn ol awts bew th each •e(kn ofthe Pemon &Jikder Scheme. The È¢heme o t¥)rdderj to be a MUtteMl0yer8ch?rne a& de8CTrtd In Seckn 28 of FRS 1U2. Th caw rt Vd not pxble to attrfmethe Penwon euikyer Scherne aE8ets aTraIl"88to 8Fwfic empbywB and rre8rBthat contntLrticTh are a¢Un for a& Mthe Schemè re a defined c¢ntribJtso •theme. In the accounts oftha PCC of Bath we# st John. the to the SOFA In the year are the contrttxrtior paye IW24. £1,638." 207J". e1.2761. A valuation of the Penslon Bui&r S¢heme Js carrj ehjt cnce everythFee yearn The mcet recent valuaion waBc4rri•J aB at 31 Decemtér 2 Forthe Ptnsion Cl•wG secon, Valuati r•veal&J a of£34.8m on the OoIng aJuumOion8 uwJ. At the mc•t recent annual reNknY effeLlve 1 January 2025. Ihe 8tsard thLe to grant a 4Yi6cretK)nary tonu8 of 6.7% to trJth perrion& yet in paymerrt and Femons in Yrnent in resF¢cI of seThlce prtor to Awl 1997., and a tK)nus on pertyon¥ in p?nt In respect of pcffjt-Nwl 20 serwicg w thal Ihe pension increase was 2.Ph {ere usually rt be ralcuLqtbJ on Inflation upto 2.5%). Th follo1 imyovemerts in the fvTrairo vIer224. There Yd no requirement for deficit payments at the oJrr8nt Ome. The nex1 v81u8tion Bdue aB at 31 Decomtra)25. For Ihe Penon BulK1er 2014 se¢thn. the 2tr22 Trraluation revealed a of£8.5m on the oryc4 aswmpb'orY& u%d. There B rK) requirement for deficrt Payments at the [rent time. The18gal structure of the 8ch?me &8uch Ihat If an¢ther emrAoyer fall& the PCC of Bath Weston Sl Johfi ¢oukl Corne reswn8ible for FayThJ a 6hare of the failed emsyoyefs peOn Ik?bllrtie& P46tarr ore al wmploy¥J on behaff of Grace Church 80th18ee note 171, Ihe Larty couha akn become resp)nlIe for Foyir¥J otth Bhare. The current rninW 6taif rnernber. %4fi0 l& eM0Ya bythe Dlott&e of Bath aTrJWel* I[ oth¢r dergy 4& amember ofthe Churth ol England Fund&J pe0 Scheme ICEFPSI.
GRACE CHURCH BATH (A Charltable Incorpor Organlsatlon) Note8 10 the Flnanclal Statem¢nl• forthe y••r ond•d 31 December 2024 (contlnued) 13 TRUSTEES. REMUNERATION AND EXPENSES Durlng tr•y4w. •xporMO8 w•r• Mlmburn•d or p8ld dl•lo th••• T1. 31.12.24 31.1223 Rev M FarrJÈr Iporl Alr M Cr4ine (Lay Re•Jerl 1.297 767 The6e amounts were in reBwct ofthe rm¢ernert ol co&6 Fra(.9. wulent churc runnh7 c¢ts, miwon cctsl and eXF¢r incUed whil&t carrwrYJ outtheir dukBCffl tehalf olthe dAMy. PAR SHARE kn th• COMMON FUND Underthe ofthe Oioc• gf eath aTrJ wel Mr8 Order daby 9 Fthary 2tr21 that endolves make8 wovitsitrn for (kn Church Bath. in wnJuNation wth the Common Fund Cornrttee of the Bath aTrY Wd18 OKcgB8n Board of Flnance. Gra Churc wll alm totske full part In the cc4nmon fuTh Scheme for Forxh Share after 3 yeaJ5 from the date of th rxder, in the me8nfjme mar lJntary Coniribjtio in IU ol F4mh Sham, baB•J on Ihe nwnberol wmrr#tt•J grbv cOntrioOI£l7,6I8 m•Je in th¢ year eTra•l 31 Oa¢mr 2W24{2J.. £nill. 17 RELATED PARTY TRANSACTIONS tJrirMJ Ih¢ y¢¥. flMnr#81 WJFPJrt of£39612orJ". £2661 to the knity ol a tntsto Ihelr thiklren to attend o Chrii8n 6urnmer camp. The Iruee Concern took no part ITr the de(48ion to 8pkThe the fuTraing. The 8UFP)rt in line ¢he tharitls eStaj crSteria IN finarKlal ance Ihe supwt lund, 1¢h H Dn to all rnernt¢r5 oltha corvJrtyabon. based on ne&J. Tha PCC of Bath Weston SL John ofGrace Chut¢h Bath. The fDffm%irvJ TnAa88 or kw manlgemeth of Grac• Church ¥e a Tnth ofth• PCC of 8ath Weston St John". M. Father. P8c¢lTrthe aThJ mber91 Mlthy Lethrnhip Team) . Cralne. Lay Re8der[TIé1 In Jdrtbn, the folltrthno oYa? oflhe PCC of Bfith Wethn St. John 4& emF4oyed for Ihe charty. G. Jrffilan. Traafjjrer arpJ Mmin8torto P8 Co8iB InCued bythe PCC on tehalf of GCB are re¢haiged to GCB under a MenNx8rKJtsm of UThaerstsnding. Thv& In¢lthles emF4oyment ccts (to end Sek*ember2023'. 60% of it from Octotw2023'. 80.77% of c1) aThJ 50% ofthe costs of runnirYJ Ihe Bhar•J ots at Emmanu•l Church. GC8 aWJ pakl rèrtto thv PCC fcrftha of St. Chwth durir¥ the year.
GRACE CHURCH BATH (A Charftable Incorporat•d Organlmtlon) Note8 to tho Flnanclal Ststemonts forthe year end¢d 31 Dècember 2024 (¢ontlnued) 17 RELATED PARTY TRANSAcnoNS Iconfdl The amwnts recharg8d ty the Ffc toto GCB in the parlod 4re the iThJMdual cost ne9 and comprise 31.12.24 31.12.23 Salarfas. honoraro Clergy & Btaif axper¢¥ Rent Church & maintenar 14,553 11041 19.212 12,40 P 24