THE GRACE FELLOWSHIP REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 Reglsterad Charlty Numr.. 1194027 Company Numbgr.. 07265827 (England and Wale8)
THE GRACE FELLOWSHIP CONTENTS Page No. Company Infomialion Rewrt of the Trustees Report of the Independent Examiner Slalemenl of Financial Aclivth'es Balance Sheet Notes lo the Financial Slalemenls 8-12
THE GRACE FELLOWSHIP COMPANY INFORMATION R•gistered Company Number 07265827 R•glstered Charity Numb•r 1194027 Tru$t¢•s John Tanton (Elderl Joshua Tonton Tracey Luckham (to September 20231 Paul Davis Graham HOarKI {from September 2023) K•y Manag•m•nt P•rsonng1 Trustees as above Nigel Sharp (Elder Malcolm Hoad IP851orl Nigel Hoad (Eldor) R•g18tgr•d Offl St. Johns Chur Singleton Road Great Chart Ashford Ind•p•nd•nt Examln•r Bergsfords Chartered c¢rtrfd Ac(ounl 1-2 Rhodium Point Hawkinge Business Park Folkeslone Kent B•nk•rn Lloyds TSB pl¢ Kingdom Bank
THE GRACE FELLOWSHIP TRUSTEES REPORT The Trustee5 yesert thr rekK)rt aTrJ examined finarKial statements of charity lor the year enO&l 31 December 2023. The Tntstees have ath)pied the provisKxts of ststerrwt of RecornmerxlJ PfactKe ISORPI"AwuntirMJ and Re'n9 by Charities" IFRS 1U21 wepariThJ the annu tep)rt a1 of the cjiarty. The finan¢ial ststernents have Len prepar•J xDJrdarKe the accoLmtirJ p)lici8s set in Ihe Th)tes to Ihe accounts and comply th the charity$ govemiNJ IJcrL the ChorfS Aci 2011 Accountir¥J and RepJrtiThJ by Ch8rrtie5.' Staternenl of RecommeTh1ed Practre a[ble to ch8nlw twarirvJ their acb)unis in &cordance witti the Financrdl Reportiry StaTrJarts apF4ic4ble in IhE UK aTrJ of Ird8ThJ pUy in OGtober2019. obh¢ll¥ •nd •¢lltAlle• The princlpal xb.vty is to &Jvance the chtran larfh. • &tordarKe th ihe Statet of bdief5 apFearing in the govemir document, in $y¢h and in such pa ol the Unrted Kid0M or as Ihe Tntsiees ol Ihe charity from to time think frt and to fu11 sh other PuoseS are th8rit8bto xcor¢ir3 to Iw of ErgLgThJ ar%J Wales 8ThJ ore conneci&J with the ¢haritaNe ork ol Ihe charity. To relieve 9kr arkl fin8nci81 hèrdshp pror a1 pe good he8Mh by thè pffjv1sn ol Ilm$. gtr>95 or seNKe5 of any kind. iluding through Ihe provIs)n ol co111j aTrJ suprKJrt in such ol Ihe Unrted Kiwdom or the world a¥ Ihe Tr11&$ from t1 r Publlc bonefflt statnant The Trustee5 confirm that tlw hav• referred ty) the the Chgrbty fA>mm48M8 general 9uldance oft wbic benefil %en revieww Ihe Chatys aims obiothts F4anniry future actN85. A¢hknThnts •nd PgrlonnMc• In fv P•rlod The main method Ihai The Grwk Felk)wshw uses k) carry oth its chantabS• athity. whth provtyjes public benefit, is 1 provi$h)n of 8ible teachirMJ on a regubr b8Sk8 in servKes w kasi 0 exh week ¢Jev•bpmenl and use of teaehing gifts of church mèmbets has teen throah Ihe ol pnnlgj resources on 8 leing basis. a broad parti¢ipaiwJn In the wular leadirg of meetiNJs provish)n Of t•&hity lor 8 5inrfKanl percenlage of the main ¢hur¢h Serwces. The teach9 objeelive of th¢ Chanty was furtW enj by 8n onhne twnce ilh thla avsilable •ith•r VIB 8 INe 51ream reconjed SI•5 on YouTubelZoJm. During Ihe pernd. several peotAe h8ve st8rteJ regular atteThJance Mi respJn5e 10 Ihe of ¢he Chanty in teachi 8nd ¥eeking lo INe the ChrlIan farth. ch8rty has been aclNe in seekiw to t¥JJ W wth the cornrnunity throk4h t8rer toddlers group and 8 colfe• rTh)rn¥wa whKh are Open lo al. An Easter Farnity Trail an(1 Chrtstmas services are tsvo examfv ol acts.vit uThJertak•). The provi$K)n of chi h95 been kepl in th.ne Ihe Charrtls $tatJ objecfft through ihfr apwintment of 8 full .8 P8Stor. with addilh?nal teachiThJ 5UPPJrt provthj by 8 mixlure of memters of th¢ o)wwa¢KJn ex¢em81 preachets. The 8dvgnce ol Ihe Christs'an Faith was sw)rted throu9h lh• provisth ol slfIe tsachiThJ trj chlk1ren and youth from the church famity and wnrnunty. Tho was achv&J Ihrowjh beekly SuThJay S¢Fthl classe5 Friday evenirs youth oroup meetings whKh provhyed a SOC SP1 to the INes of 8 of chikIn and teenagers. These actwities have been $18ffed by volunteeis 8Th1 supported ty Ihe charity lor the c05101 equip1 aTrJ n5m&bS. The church buikJiThJ in Greal Chart Ihe mafry laThJible asset W by Ch8rtywhh 1$ in yjpwrt of its 81rn5 both a* physical presencè 8Th1 8 venue for #CVit5 Ihat seek to reach the commLMty. There was litue ¢aptal exrwrfjilure made 2023, with work on the buikjiw confined to mainienarte &iivity. bekm Ihe £1.( c#kMalI5an thT85hohJ. The aims ofthe Chwity have abo W furttsr&J by ol sw to Ike mirnknj ir¥JwhfjuBls and organwtions.
THE GRACE FELLOWSHIP TRUSTEES REPORT Risk pIcY The Trustees are resp)nsibk for Ihe ManeMent of the aThJ have thnbfttl roks lo Grace Felk)wship alxl impMented approprle controL% The key Cont used by the charity Ind.. . Comprehensive lanniw. tvJgthNJ aThJ trnitori ofexFeThditure ' Estsblished struc of key roks cD¥eri fina. lIk)Irj opwatwI thibe5 ' Fornial written proce£JLJres such as Chi# ProlectKJn ' Forrnal written proc8dures for ii5k Bssessmenls for olf site actiwis . Lewjership meetirg5 hekl ilh loml wJeTrJas aThJ put4 miNrtes . Clear avIriSa1n a apwoval 1$ lor experwJrtur¢ ' Professional examinatk)n wesentakn ofwwwal acc4yJn ' Tra[ler of risk through Inswance PolKies ' Provis)n of training for FccJ Safety c'by Prolect¥Jn ' En5uriThJ COM4r8 wlh th• GDPR lh8 fairtrealmgnt ol irbyivbjua Idontlffled A declln• In In¢omlny fin•n¢hl rnsour¢•s We h8ve a reserves wlKy that albws the charity to txrffer the imw of a (le¢line in giwng. Th18 Wbcy alknw the Operatn$ of Ihe charity10 contsnL a year rflac&J ilh 8 sKJnrfwit dqdine r850Urn. C•t•¥trophlc loss by Ilr• The chanly h85 buihfjing insw¥nc¢ th up to £369,315 to rthMhJry 8ThJ refit the premLses. In hnè bilh 8 number of other ehurches Ik1 hire 8iiwnaiiv• 8£¢oftwn to meet in r8tsJik4ir¥J was car out. Loss oldr• Th& organisats'on has data aTh1 syll•ff 8• rth3ardthJ as tthal Ar F4v a proce86 01 regu18r back upg that are slored securety. Flmnclal Rovb•w The th8rity is finarKialty deFeTrJent on lUn ol ts berS Irom olher ir¥JivvJuals around Ihe UK. T¢)tsi receipts lof the year 8mounied £74.378 12022.. £44.3571. ExpeTrJiture lotalbj £50,483 12022.. £43,1801. As a $v ol these nK)veffnts. 8 suwus of £23,89512022'. £1.1771 was for its i*ar. Al 31 0mber 2023 fuTrJ8 arnOunt to £235,70212022.. £211,807). A¥ al 31 De¢ernber 2023 bkn was (xrt8ry the wrch8se of the bjire beiNJ r•p8ba in line wth the schoduk s•1 by the leThlers. As thè arnunt Ilir$ due in tes5 ¢han 12 rrKsTrths aFprgxim8tety 4% of the cash at bank the reselves ot4'eciNe of the Chamy has W met at this A)ini. The Twstees 11 continut to rn1¢or the ChaNWs a.Ity to me81 ts financ ot4h3ath)ns. R•••r¥ polky The Trustees have revwed the 9eneral reserves hekl by the chaiity aThl leel Ihat Ih8y are TrJl exce5sNe gNen the goal of empbwr¥J the p8Stor lull at some point the fulure. They 8150 aim to hokj m 9enwal reseNes an amount equivalent to
t 881 1 y•afs nThtyago aThJ b)an paymnts with an *ldrttyJnal gerwal expelite.
Al 31 December 2023 desvjnaled hJnds affthni•J to t120.73912022.. £117.2371. Further detad5 te found in rote g. At 31 December 2023 restted fuTrJ5 arnunt to £592 IW22.. £7711. Furtherdetw"b can be fou In rKJte 9. Pay pollcy for k•y rnanagw1rf perwnnel The Trustees consider that the Tnlee5 8nd the Ek1ers togetw fX)mKx¢e the key mareMent pewnnel of the charity in charge of dIrec.j and eontrolliTvJ. nJnnir¥J oFe¥8. the chanty on a day lo day bas. The key rnanagemeni personnel o are Inv0fv In all decis makirvJ arK) [ble lor dby to day managernent Oftt charity are detailed on page l. All Truste88 gNe of Iheir t1 frEety aTrJ rn Tnthee rewwj rwrKwatr" Jn for the dutes of 8 Trustee durirYJ thè year. The Charity empkTryed a port-time pas10r.
THE GRACE FELLOWSHIP TRUSTEES REPORT Pl for th• lutu Tf atm Is for the church to in number as pw beco Chrisliars aTh1 as otrr ChrBb"ans pin the ¢hurch. This growlh in nurnber ill a0 irKrease the finamal base of the church. A5 ¥eswrces alknw. the Trustees would wsh to see the Charity expand its activitS. aThY the employ7ent of a pastor teaclw fulkbme 15 hekl as a key aim for the future. Duriry 2023 Malcolm Hoad eonbnued In h6 empkn. becomiro full D"me paSr a¢her of Gra FelkNship from April. The church is now lookiThJ into cnnstructK)n rwects to expaTh1 Ihe Ib)r spxe of the cent churth tAj11[j lo make rt more Useable forthe uTrJertaken to serye Ihp cluth Ihe commw¥ty. Structur• The chanty was incorrora¢wJ as The Grace Fdb4ts8hip. a wmpany h"mrted ty guwanlee aTrJ rnt hamng a share capital under the Companies Act 1985, on 26 May 2010 and L8 govemul by its MernraThYurn of A550ciation as &1opted on incorporalk)n. It 15 rlSter 8s cornpany numLr 07265827 h8kl excepleil charty statu5 re9iStefed a5 an affiliate of lh8 FIEC charty number 263354 until 8 Aw"12021 when rt became a wi8ler&J chanty In ¢s own h1. beirYJ gtven ts charity numter 1194027. Gowrnan¢g ond Managgnxn¢ During ¢h8 y8ar the folk)wThJ were Twstees of Ihe charity. John Tanton Joshua Tanton Trx¢y L(Kkh8m (to s9ptern 20231 Paul Davi5 Grnham Hol Ilmm Seri 20231 The Trustees who seThed durirg 2023 are as detsw aiwe. Tl thg rffjulrets of the MeryKrandum of A$sOCl8lh?n wthich govems tl 8pwinlrnent of TnJ51ees. During the ye8r. trustees We lM$ ex¢e5 urthr b)e ol sect)n t3.2 kn the MemDr&ThJum of Assoc17. See note 3 of Ihe financial $latements for dets4¥. Tru•t•••' R••porffjlbllW The Trustees Iwho 8re also for Ihe purp)ses ol company are lor weparirva the Trustees, Annuol RerKrt and the fina191 ststernents in accor¢8rKe wilh aWKable Iw4 and Uniled KiThJ¢om AccouThtiTrJ Slarards lune Kiffjdom G8nero1ty Atc•pttd AccoLtnfr'rvJ Prxithl. The18w applicabk lo ¢h8rfie$ In Er4ThJ Wa requires Ihe to pr8par¢ finarKk815¢8lernents for each financial year which give a tsue and fair viv4 01 the stste of afflai ol the chanty and of th? in¢omiry resources and gf resources of Ihe charity for thot year. In prep8rirKJ these finarwl st01effts. Ihe Trusiees a wuired to." . Select Suitab xo)untr)9 OKies Itth appty ihem consi5ty. . obseNe the meiho#s aTr1 sei in Charilies SORP 2015 IFRS 1021.. . m8ke JeMen1S and esbrr¢8tes thal a reay0n9b aTrJ WLhlent'. . 5t8te whoiher apJicaLle stand&¥d$ have been folkywed. sut4ect to any material depthires doebstrj 8ThJ expL•in&J in the financial ststernenl$', . prepare the financi81 sts1eftts the corKem Un 115 wPFpn9te to tL$me the charty conlnue. Thè TNstees r•Snl• lor kewNJ Iper cOlvd rw)rds Ihai ¥•lh reasonable accurncy ai any 'rne th• rinarKial rx)srton of Ihe charity and enable them to ensure th81 the finawal slateffnts ¢>ynpty ¥¥rth the Charnw Aci 2071, the Charity (Accounts aThJ Rep)rts1 RegIA8t 2CK18 aTrJ the w0V)n5 of Ihe Mendurn of Association. They are 8150 responsible for safeouardir¥J Ihe assets rf the charity aThJ for iakiNJ SOnae eps lor the pVeIK)n and detectn of fra1 arKI otw Irrgjularities. Small company •xemptlon The financial statement5 have been wepared in ith of 15 of Ihe COmpw5 Act 2006 relating small companies. Apwoved ty the Trustees 5vJned on thelr by. Date.. IS-*-Z+-
THE GRACE FELLOWSHIP INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES I report to the charity Injslees on my examination of the atojunls fw the year ended 31 December 2023 which are sel out on pages 6 to 12. RgsponslbllStSes and ba8ls of report As the charity Iruslees of the company (and also its dtrectors for the purposes of company lawl you are responsible fof the preparation of the accounts in accordance wth the requirements of the Companies Act 2006 (Ihe 2006 Act,). Having satisfied myself that the accounts of the company are not fequired to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of Ihe Charities Act 2011 I'lhe 2011 Acl'l. In carrytng out my examination I have followed the directions given by the Charity Commission under section 145{5) (bl of the 2011 Act. Independent oxamlner's r•port I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause lo believe.. accounting records were not kept in wspecl of the rx+mpany as required by se¢llon 386 of the 2006 Act". or the accounts do not accord wrth those records,. or the accounts do not comply with the a¢¢ounling requiremenls of section 396 of the 2006 Act other than any reouiremenls Ihal the accounts give a 'true and fair vbev/ which is not a maller considered as part of an independent examination.. or the accounts have not been prepared in accordance wlh the methods and principles of the Stsiemenl of Recommended PraCte for accounlin9 and reporting by charities. I have no concerns and have come across olher matters in connection yh the examination to which allenlion should be drawn in this report in order to enable a proper understanding of the account$ to be reached. Mr Christopher Dodd The Association of Chartered Certrf*d Accountants Beresfords 1-2 Rhodium Point Hawkinge Busines5 Park Folkeslone Kent Date..
THE GRACE FELLOWSHIP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 DECEMBER 2023 2023 2022 Note Unrestricted Restrlctod Funds Funds Total Total Income from: Donations 71.216 814 72.030 43,587 Interest Receivable 135 Other In¢ome 1,740 1,740 835 Total Incoma 71,824 2,554 74.378 44.357 Expendlture on: Charitable activities 2&3 2,393 50,483 43,180 Total oxpandltur• 48,0 2,393 50,483 43,180 Not mov•m•nt In fund8 23.734 161 23,895 1,177 Tr8nsf•rs between funds 1340) 24.074 {1791 23.895 1,177 Reconclllatlon of funds". Fund balances 311 January 2023 211.036 771 211.807 210,630 Fund balancos at 31 December 2023 235.110 592 235.702 211,807 All transactions are derived from continuing aclivities All recognised gains or losses are included in the Statement of Financial Activities
THE GRACE FELLOWSHIP BALANCE SHEET AS A T 31 DECEMBER 2023 Note 2023 2022 FIXED ASSETS Tangible assels 160,082 161,302 CURRENT ASSETS Debtors Cash al bank and in hand 7,077 78,840 5,569 58,613 85,917 64,182 Credltors: amounts falllng duo wlthln ono yoar {4.462) (4,207) NET CURRENT ASSETS 81.455 $9,97S 241,537 221.277 Crfjdltors,. amounts falllng due after more than on• y•ar (5,8351 (9.470) NET ASSETS 235.702 211,807 R•pre86ntad by Reslricled funds Oesignaled funds General funds 592 120,739 114,371 771 117,237 93,799 235,702 211,807 For tho ffinanclal year endod 3108comber 2023 thg company was onllugd lo exemption from audit under BeC1n 477 of the Comp8ni&s Act 2006 rel81irKJ lo sm811 ccrfnp8fti¢$. TN$lees' Sponsibl1111e$ rhe member5 h8ve nol required the wnp8ny lo obtsin 8n audit of ils finarKial statements for the year In quSOn In accordance wth section 476., The Trustees acknovhedge their spOnSibl1"eS for complylng vthh the roquIr&MlS of the A¢1 with respect to accountin9 1g¢ord8 and preparatKX) offinawal 8talert*nts These financial stalements have been pwared accordance vmh the special pro¥ishJns of Part 15 of th8 Companl&s Act 2006 relating to small compani8S. Tho financial ststem8nts appro by the Board 0fTruSt on nd sbjned on its behalf by.. Tru$tèo Company number 07265827
THE GRACE FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES 1.1 8asls of pr•paration The Grace Fgllowship is a private limited company by guarantee antl wislergd charity with the Charity Commission in the Unrted Kingdom and a regIsted company in England and Wales. The address of the re9islered office of the chanty is given in the charity inlomialTron on pago 1 of these financial stslemenl5. The nalure of the ¢hariVs operati¢)ns aThJ principal activitw aro lh& advancement of the Christian faith and such other chantable purposes ?$ th& Twst88s shall from kn"m& lo ts.me determing. The ¢omp8ny n$t[tuteS a public benefft enlty as defined by FRS102. Th6 financial 5talements have been prepared in accordance with A¢¢ounling 8rKJ Reporting by Charities.. Stslemenl of Recommended Pr3¢lice applscable lo Char"eS prepaiing their accounts in 8¢cord8n¢e with the Financial Reporting Standard applicable in the UK and Republic ol Ireland issued in October 2019. the Charitles Act 2011, Ihe Comp8nie$ Acl 2006 and UK Generally Accepted Practi$ as il applies from 1 January 2015. The financlal statgments ar8 prepared on a going ccKKem ba5 under Ihg hlstorfcal Cost convenllon. The financial slatemgnts ar8 prepared in slérfing whh is the functK)nal currancy of the charity round lo th8 ng8r8s1 £. The significant accounting polici85 4ppI in the Pfeparalion of the finanrAal Statements are sel out bg1¢)w. These policies hav8 boon con$10n11Y appli to all yoaTS prtsented unl888 othepwise stated. 1.2 In¢omlng r•¢ognltlon All in¢omtr is includèd in the St81emenl of Financlal Actfvilies {SoFAI when the Charity Is legally enlilled lo the income after any perfomance ¢ondrtitins h8ve been mel. the 8mounl can be me85ure¢J reliably and it s probable that the income will be feceived. - Voluntary income including donations arKI Is Indudad in the SOFA when rec8ivabl8. Investment income is induded whgn re¢eivable. - Gift Ald paid by the UK govemm8nt on qualfyng vIng 1$ reCOlsed when recelvable. 1.3 Exp•ndlturn r•¢ognttlon All expenditure Is accounted lor on an aC¢nlS basis, is inclusive of VAT and has been classified Ltrnder headings Ihat aggregate all costs related to thal category. Expenditure is recognised wh&n thgrg is a legal or constructive obligation lo make payments lo third parties. it is probable that Ihe settlemenl will be required and the amount of the obligalion can be measured rel¢8y. Expenditure on ch8ritable activities comprises Ihoso ¢osis incurrgd by the charfty in the delivery of Its activllies and services for lis beneficiaries. It indudes both costs allocated directly to such 8clivilios and Ihos costs of an Indirect nature necessary to piNI Irn. 1.4 Funds struetur• Unrestricled income funds comprise those lurKls which the Trustèès are free lo use for any purpose In furtherance ol the charitable obieclives. Unrestricled funds include designated funds where the Truslees. al their discretion, have created a fund for a speufic PUTf)se. Reslrl¢tfjd funds arg funds that only bg used for parlilar TriCted purposos wllhin the obiocls of the Charity. Resiriction artses when spectr by th* dcwr or whfjn lund$ are raisgd for partl¢vl8r restricted Pufposes. If any rostrict8d fund falls into dgficit this wtll b8 mot by a transfor from the unrestrict8d fvnds.
THE GRACE FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 1.5 T•ngibl• flxed assots and depreciation Tangible fixed assets, other than freehold land. are slatetl al Cosl less depreciation. Assets which cost less Ih8n £1,000 are not capitalised. Depreciation is provi(le(l al rales calculated to wrile off the cost or valuation, less estimaled r8gdual value, of eh asset over its eXkWted useful life. as follows.. Freehokl buildings Long Life Assets sepaiable frrm buildir¥J Fixtures, fittings ansj equipmgnl Computar equipment 50 years straight line 15 years straight line 5 years slraighl line 3 years slraighl lin Land is not dèpro¢i818d. 1.6 P•n8lon contributl¢n$ The charity operates a defingd contritmjtion plan lor tho benefit of ils employeas. Contributions are exnsed as they becomg payable. 1.7 Tax The charity Is an exempl charity within the mean0 of S¢hedub& 3 of Charltles Act 2011 and is considered to p8S5 the lesls set out in Paragraph 1 Schedule 6 Finance Act 2010 ond Iharafore il meets Ihfj definition of a ¢h¥rilable company for UK corporatTh tax wrrKises. 1.8 Golng concwn The financial slatamenls have ken prepared on a goin9 conc8m basis as the Tru51ees believe Ihal no malerlal uncertainlies exist. The Trustees hav¢ nSIdered Ihe level of lunds held and the exk)&Cted level of Income and expenditure lor 12 months from aLrthorising Ihese financial stslemenls. The budg&1gd incomg and expendrture is sufficient th the level of resems lor Ihe ch8Tily lo bo able lo conllnuo as a going concem. 1.9 Judgtrm•nts and k•y sourc•s ol eBtim*tlon un¢•rtalnty Accounting eslimates and judgements are ¢ontsnually evaluated and 8re based on hlslorlcol experignco and other factors. includin9 exltationS ol fulure evenls that are believed lo be rgasonablo und&r the clrcumslances. Useful economic lives of tangible assets: The annual depre¢i81ion chaige for tangible assets is sensilive lo chan$ In the ostlmated useful economic lives and regdual values of the assets. Tho useful economic Iivgs and residual valu85 are reassessed annually. Thgy are amended when necessary lo rello¢1 ¢urront estimates, based on technological a(fvancements. fLrture inveslment$, economic ulilis8lKM aThJ the phyy'cal condition of the assets. See notg 4 lor the carrwng value of proptrrty. plant and oquipm8nl, and nole 1.5 for the useful economic lives lor oach dass ol asset.
THE GRACE FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 2 ANALYSIS OF EXPENDITURE 2023 2022 Dlr•ct D85i9nated R•strict•d Costs Fund Fund Total Fun Totsl Fund$ Charttabl• a¢tlvlth'. EvaThJeli51ic eVts Minlsty costs lindudir#J vJ5ttiThJ yeackn8rs1 Missionary aThJ b•nwol 1,110 5.238 1.179 5.659 3.646 3.466 751 2,335 304 720 1.956 1.220 421 5.6 3.271 2.781 895 1,284 232 Insurancè Subscriplh)r Leg81 costs ISale9uorllng & Componlg9 Hw$6} Interasl costs Mainienan¢ellmprovemeTht It capltal Depr8cialbJn olher 751 720 1.786 2,148 3,224 635 GoTh•A¢• ¢osts'. lTrJepeTrJont •xamh)ws fe• 660 630 Tot•1 r••ourc• •xp•nd•d 21.247 2.393 23.64CI 22.058 J STAFF COSTS AND KEY MANANGEIKNT PERSONNEL REMUNERATION 2023 2022 Gro$s wages Employer'$ Nl Empbyerfs pensknn Conftt¢nc 25.333 20,144 1.280 230 26.843 è78 The av•rAg• numb•r ol•mthees ¢JuriNJ Ihe ye8r ¥0$ 1 12022.. 11. There aro emoYeeS 14ilh emUments above £OO,(W12022.' 01. DurSTrJ the year £3.320 paKJ to tru51oe5 and dder5 for rmtmeftwi ol CW eXpeTrYJfÈ. The roirnburs•meni c¥)vwed a variety ol CA)$1 I8d15 inrJudiThJ ministy experses rnaffitenar costs. 10-
THÈ GRACE FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 TANGIBLE ASSETS Froehold land and buildings, equlpment, fixtures and flttSno$ Cost As al 1 January 2023 Additions Disposals Al 31 December 2023 211,160 211,160 DeprnGlatlon A5 al 1 January 2023 Charge for period Eliminated on disposals Al 310ecember 2023 49.858 1,220 51,078 Net book valuos At 31 De¢embef 2023 160,082 Al 31 December 2022 161,302 Included in Freetw)Id Property is la which is not depreciated. DEBTORS 2023 2022 GWI Aid reclaim due Oihei debtors and prepayments 4,958 2,119 7.077 3,683 1.886 5.569 CREDrroRS: Amounts falllng du• wlthln one year 2023 2022 Other loans and mortgages Other creditors and actnJals 3.426 1.036 4.462 3,293 914 4,207 CREDrroRS: Amounts falllng due after more than one year 2023 2022 Other loans and mortgages 5,835 5.835 9,470 9,470 The mortgag8 is secured by a legal charge over the property.
THC GRACE FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS YEAR EAIDED 31 DECEMBER 2023 8 ANALYSIS OF NET Asseys BeTWEEPI FUNDS TanRlb ed assets N•t¢yrrent Non current Ilab51ttfj&s Totsl Genefal lunds Desgnated lufid$ Reslricied fijnds 84.2B9 13.4261 592 81.455 114,371 120,739 592 235.702 15.8351 160.082 5,835 CknskJnaled fund$ cc¥nprf8e the f(yry'. Tr•D¥f•r% bat fvnds 3,502 Valu• D•slyn•t•d Dlr•¢t ¢ts Surplus I D•¥lgn•t•d Funds Frn8hohJ ProF4rty 3.502 3.502 Tranif•rn Rmtrict Gl¥lng Dk•cl Ggsts R•¥trl¢t•d Fundi fvnd• ID•fl¢ltl Hlndleap Sbknp Fr•¢ Grace Churthlstyjih East Youth B•n•¥okne4 Fund 13001 Chw¢h d01 •¥•Thts IBèQ & FITwryk¥l 421 75 Bu19- ¢c4eto 168 Bubb 235 2.554 64 2.393 100 340 71 179 • FVNO BALANCES A••131 D•¢•fflb•r 2022 A•at31 D•c•mb•r 2023 Surplui I G¢n¢rnl Fund Freeho Prop•rty Bubbles Buikling- N•w toik818 SON and LKJhl- Tra¥d Eyns Bène¥oknc 93.799 117.237 20,572 3.502 71 114.371 120.739 235 50 41 13WI YOOG Caring for LKe Chrislrnis Oflerfng for k)cal { 225 225 32 211.807 23.895 235.702 obCts offunds Freèhokl Prope The TW8?$ bave d8sTra¢ed I fr¢ehold poperty. th8 a81•y fiTrarKt liabllths. as Ihi5 $Sèl i% Ml freety aval•ble to ¥nd but (8 W ¢0 a base from the chadty ean undertake ds athvit. The Ghwth runs a group fof tarets aTrJ l(Jdr8 The vdunlary dona1kl are aerx)unted for Ih88e Finanrial Slalementswhwe IhBy offset lhEeYndrtuIe on equpmeniand refreshmenls The Lurt runs a for rwF48 o¥er the 8ge 0150. The donation$ received a accounled lor withiTr these Fwial Slatwei)L% where tsy offset the expenditure w food, e4viprneni and tran$wi. CJnThJ the the gen1 lund mei b8h¥ew reuNod ¥nd Ihtr ¢4sts runnwig Ihe gityJp. YOW ofGod lYtK)Glis a 9Jp by fv thurth. BubblBs SoK¥nd Lhl YC)OG 10 COMPANY STATUS The Company a company knited by gU•an and noi havirvj 8 tharfr ¢apl. Every mefflLr ol th& ctsmpany undertakes to contribute in a windx)9 up sum not exceeding £10 wh151 IhEy are a c¢ year 8fter coa%rJ to be 8 membè¥, IOW8rds debts arKI kabi1rt5 u)nlracd te&)re cea*rKJ kn te a memtw. -12-