THE GRACE FELLOWSHIP REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 R•glstered Charlty Nurnber.. 1194027 Company Number.. 07265827 (England and Wal)
THE GRACE FELLOWSHIP CONTENTS Page No. Company Information Report of the Trustees Report of the Independent Examiner Slalemenl of Financial Activities Balan¢e Sheet Notes lo the Financial Statements 8-12
THE GRACE FELLOWSHIP COMPANY INFORMATION Regist•red Company Numbor 07265827 Rogisterod Charlty Number 1194027 Trnsteos John Tanlon (Elderl Joshua Tanton (to 1 September 20251 Paul Davis Graham Hoand Key Management Per8onnol Tfuslees as above Ne1 Sharp {Elderl Malcolm Hoad {Pastor) Nwl Hoad (Elder) Roglstorod Offl¢• Si. Johns Church Singleton Road Greal Chart Ashford Indopandent Exarnlner Beresf¢xd$ Suile 14 Cobbs Wood House Chart Road Ashfofd Banker• Lloyds TS8 plc Kingdom Bank
THE GRACE FELLOWSHIP
TRUSTEES REPORT
The Truses present their repxt aTrJ examiw1 ffftarKial Slateme of charity for the year 31 December 2024.
The Trustees have adopted the wovtsw)rts of the St8tertht of Reujmmerxyed Pra¢ii¢e ISORPI 'Accounting and Repon9
by Charities- IFAS 1021 in pparir9 the annual E%)rt ar f[wla1 slaternents ol the Charity.
The financial statements have been yepared in COT
THE GRACE FELLOWSHIP
TRUSTEES REPORT
Rlsk policy
The Tru51ees are reSkK)n5iIe for Ihe marwJwt of the charity h8¥e kJentrfd to Grace Fello¥vship and
Implement appropnaie con1r0.
The key controfs US ty Ihe chanty IrKI..
' Cornprehensive planniry. Welir#J aTrJ ol expeThJrtu
' E5lshe
THE GRACE FELLOWSHIP TRUSTEES REPORT Plans forthe I The aitn is for the church to gnjw in number 85 peopk beLxNne Chnstiars 8Th1 as other Chrisuans join the ¢hvr¢h. This gro% in number %11 also irrease financL31 base of the Church A5 rewJTces alhThi. the Twstees would wish lo see the Chèrity ekpar¢ its aclivths. Dunng 2024 Makolm Ho1 conDnLeJ in his empbyTrETrt. as full tirne pastor teacher of Grace Fe1hlp. The church s thkiry into cortstnKlkM optsons to eXP8Th1 the fky $pace of the current church buikling lo make it more ate foTtl act1 ur¥Jertaken to Serve ttE church aTrJ the cornrnunity. The charity w8s incorpof•Y 8$ Gr Felh[9. a wmpany limrtaj by gisarantee haviry a share capit81 under the Companies Act 1985. on 26 May 2010 aThJ is govemed by ts MeMraThj of Associa as ayopled on incorrx)ratw)n. 11 is registered as MpanY nurnr 07265827 hehj exc¢Wj charity status fegi%terJ a5 an affiliate of the FIEC charty number 263354 until 8 Awl 2021 when it bec•7 a Wter thiity in rfs (rwn IwJhl. tmg giveTh the charity numt4r 1194027. Govorn•nc• and ManageThnt Dunng the year the folkjwing were Trusts85 the chwty. John Tanknn Joshua fantyi (to 1 Sefftber 20251 Paul Daws The Truslees wtm) Se duriro 2024 we as dethiled atthe. The charity mt the r•quimmenls ol the me[rndUm of Associatn which gov8m¥ the apwJin¢ment of Tntsiees. Duriro the year. truses rtimtsJrsed expens•s urth lh• Jxovis)n of Stidhjn 6.2 in eaTrum of Ass0¢tn. Sg9 role 3 of the financial ststeftts for de11$. Tru•t•••' Ro•pon•lWlIt The Truses (W a also directors for the puSe$ ol tompany k4wI are résponsi8 lor prepanre the TrvBlees' Annual Report aThJ the Iin8Thcial ststements in accOrde a8b l&Y aThJ Unrted K¥WJm Aec)unliNJ S18Tards (United Kingdorn GenerallyAcctpled ACcoun.j PractKel. The 18w 10 ch8ri1s in Ergland 8ThJ Was rewires Tntses to prepare financial 51aiemenls for each finarKial year which gNe a tr and fair view of the stste of affai ol the chanty anof ol the incomirvJ soUrceS ¥ThJ 8pplut¥)n of resourtes of the charity for that year. In prepariry tIe financial s¢alerrrfnts. the Tw51ees are required to.. obsefve the meiws aThJ wnctples set ¢JJt in Chariiies SORP 2015 IFRS 1021: - make judgernents estimates Ihal are 8$0Th8tAe a1 Wlenk - stale whelher applicable StaardS have been lolb)ed. subject lo Inatwi 1$ea aTh1 explai In the rin8n¢ial $iements". . prepa the financial staiemerts on the irrfj torKem b•sis unknss it is inapprDWt to pres* the charity wll contrF¥w. The Tr$¢¢85 are r85pJnsiNe lor proper accounliThJ rwords Ihat (itycjjse th reasonable racY 8¢ any kne the rinancial rM)sit)n ol the charity enab them to ensure that the finwKral staternents compty with the Chanties Acl 2011, the Charty (Accounts ar Reponsl ReguL8¢$ 2008 Ihe prsrts of the MerrK)randum of Associa. They are also spotFsible for safeguarding the assets ol the chanty aThJ hee for t8kirrtJ reasonatle 51ep5 for Ihe prevention arn1 delecth)n of frawy other irwvlairf. Sfflall company exemptlon The financkql ststemenls have preparwl in acc4)rdance SFeQ81 of Part 15 of the Companies Act 2(K laliw to small cofflpanies. Approved by the Trustees Tr8d on their tehair ty. Dale..
Christopher Dodd (Sep 15, 2025 16:35:05 GMT+3)
Sep 15, 2025
THE GRACE FELLOWSHIP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 DECEMBER 2024 2024 2023 Not• Unrestrlcted Restridod Funds Funds Total Total Incom• from: OonalH)n$ 79.085 43.683 122,768 72,030 Interest Receivable 740 740 Other Income 1,740 Total In¢om• 79,825 43.683 123,508 74.378 expandltur• on: Chariiable activities 2&3 55.291 1,262 56,553 50,483 Total expendlture 55.291 1,262 56,553 50,483 Not movement In funds 24.534 42.421 66,955 23,895 Transfers between fund8 18.309 (18,3091 42,843 24,112 66,955 23.895 Reconclllatlon of funds: Fund balances al 1 January 2024 235.110 592 235,702 211.807 Fund balancès at 31 December 2024 277.953 24,704 302,657 235,702 All transactions are derived froffl continuing activities All recognised gains or losses are included in the Statement of Financial Aclivities
THE GRACE FELLOWSHIP BALANCE SHEET AS A T 31 DECEMBER 2024 Note 2024 2023 FIXED ASSETS Tangible assets 177.171 160,082 CURRENT ASSETS Debtors Cash al bank and in haThJ 7,546 124,518 7,077 78,840 132.064 85,917 Credltor8'. arnounts falllng du• wlthiTr one year {4,6281 14.462) NET CURRENT ASSETS 127,436 81,455 304.607 241,537 Credltors: amounts fallSng due after mor• than one year {1,9501 15.835) NET ASSETS 302,657 235,702 Repr¢8entod by Reslricled funds Designated funds General funds 24,704 184,481 93.472 592 120,739 114,371 302.657 235,702 For tha financial year ended 31 D8¢ember 2024 the company was enbtled lo exemption from audit under s8ction 477 of th• Companies Act 2006 rèlating lo srnall companies. Trustees. responsibilities The members have not required Ihe company lo obtain an audit of its financi81 st8tements lor tho y8ar in question in accordance wth sèction 476.. Th8 Tru$l8es 8cknovledge their r&skX)nsibilrties for comth"rKJ wlh the requirements of the Acl wth r8$pect lo A¢¢ounling records and preparalK)n ol finarKial ststements These financial statemants have been prepaied in a¢cNd8nce %wih ihe special pffjwsions of Part 15 of the Companies Act 2006 rèlats'ng to $m811 companies. The financial statements were approved by Ihe Board of Twstee$ oft Af• and Sgned or¢ its beh81f by.. Tru$tg0 Company numbor 07265827
THE GRACE FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES 1.1 Ba$1$ of preparatlon The Grace Fellowship is a private limited company by guarantee and register ¢harity with the Charity Commission in Ihe Uniled Kingdom and a registered company in England and Wales. The address ol th& registered office of the charity is givèn in the charity information on pa9e 1 01 Ih8se financial statemenls. The nature of the chantvs operations and principal 8Ctivit5 are lh& advancement of the Christian faith and such olher charitable purposes as the Tnjstees shall from lime to time determine. The company constitutes a public benefft entity as defined by FRS102. The fin8n¢i31 stalements have been prepared in accordance with Accounling and Reporling by Charili8s'. Statement ol Recommended Practice ap1¢able to ¢harilies preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland issued in Oclober 2019, Ihe Charities Act 2011. thg Companies Act 21N]6 and UK Generally Accepted PiaclKes as it applies from l January 2015. The financial statements are prepar8d on a golng concwn b85is under the his1orf1 ¢osl convention. The financi81 stalernen15 are prepared in sterting which is the functional cuirency of Iho ¢harily rounded lo the ne¥resl £. The signlllcanl a¢¢ounltng policies applied in the prgp¥ialion of the fin8nu81 stalements ar8 sel out below. These pollclgs have been Consistently appl to all years presenlod unl8ss olheThvise siatgd. 1.2 IncomSng r•cogn5l5on All income is included in the Slalemenl ol Financial Activttl8s (SoFA} when Ihe ch8rrty 15 legally •ntltl&d lo the income after any perfomance conditions have b8en met. the amount can be measured r8liably and11 is probable that the income will be weived. - Voluntary income including donations and gffts 1$ IrKlud8d in the SOFA when receivabl8. Investment income is induded when receivable. - Glft Ajd pold by the UK govemmenl on qualty'ng giving is recognised whèn receivable. 1.3 Expendltur• r•cognltlon All expenditurè Trs 8ccounled lor on an accruals basis. is inclusive of VAT and has b88n classifièd Ltndèr headings that aggregate all cosls related to Ihat category. Expenditure is recognised when Ihere is a legal or conslrudive obli9alion lo make paentS lo thifd parties, it 1$ probable thal the sèttlement will be r8quir8d and the ¥movnl ol the obligation can be measured reliably. Expendrture on charilable activiti8$ comprises those costs incurred by charity in Ihe delivery of its clivrties and services lor its beneficiarres. 11 indudes bolh cosls allocaled directly to such activities and those costs of an indirect nature n8c8ssary to supF¢At tr*m. 1.4 Funds structure Unrestrict8d income funds comprise those lunds whi¢h the Truslees 8re free lo use IOT any purpose in furtherance of the charitable objectives. Unrestricted lunds in¢lude designated funds where the Tru51ees, at Iheir disuetion, have cr88led 8 fund for a speufic purpose. Restricted fvnds are funds Ihat ¢an only be use(1 for particular restricled purpos8s within the objects of Ihe charrty. Restriction arises when swfied by the donor or when funds are raised for particular restricted purposes. 11 any restricled furKI falls into dofictt this will met by a transfer from the unreslrfcted funds.
THE GRACE FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 1.5 Tanglble f5xod assets and d•préclallon Tangiblè fixed assets, other than freehold land. are stated al cost less depreci81i¢)n. Assets which cost less than £1.000 artr not capi181ised. Depreciation is provided al rates cal¢ul8led to wfile off the cost or valuation, less eslimaled residual value. of each asset over its expected useful life, as follows.. Freehold buildings Long Life Assets Separable from building Fixture5. fittings and equipment Computef equipmenl 50 years slraighl lir7e 15 years slratghl line 5 years slraight line 3 years s¢faighl Ilne Building Project ¢osl$ included in Freehold buiklings. valued at £18,309, are not depreciated as the work is nol complete. Land in¢ludgd in Freehold buiklings. valued 81 £30.0$. is not depwaled. 1.6 P•n•lon ¢ontrlbutlon• The charity operates a dgfined ¢onlribulion plan for the benefit of its empklygfjs. Conlributlons are 8xpensed as IY b8come payable. 1.7 Tax The charity Is an exempl charily within the meaning of Sch8dulo 3 of Ihg Ch8rrti8s Act 2011 and is considèred to pass the tests sel ovl in Paragraph 1 Schedule 6 Finance A¢¢ 2010 and Iherèfore it meels thg d8finition ol a charitable company for UK corporation tax purposes. 1.8 Golng conc•m The financi81 stalemenls have been prepared on a golng conctm basls as the Trustees believe Ihal no materi81 un¢ert8inlies exist. The Trustees have congdeied Ihe ltrvel of funds held and Ihe exp8Ctèd level of income 8nd expenditure for 12 months from aulhonsing Ihese financial ststernenls. The budg&tgd income and expenditure is suffKient with Ihe level ol reservgs lof the charity lo be able lo conlinue as a going con¢ern. 1.9 Judg•menls and k•y sourc•s of •stlmatlon un¢•rtalnty A¢¢ounling eslimales and judgements are continually evaluated are ba on historical eXrIr and other laclors. induding expect8tions of fLrtur8 ewenls that aro believed lo be re¥sonable under lh8 ¢ircumslan¢gS. Usalul economic Iwes of lan9ible assets.. The annual dgprecialion ¢h8rge fot iangible assets is sensttive to Changes in the esllmaled useful economic livès an¢J residual v81ues ol the assets. The useful economic lives and residual values are reassessed annually. They are amen4Yed when necessary lo rell8Ct Cufrenl estimates. b85ed on technological advan¢smgnts, lulure investments. economic uiilisalion and the physical condition of the assets. See note 4 for the rryIng value ol property. plant and equipment, and notè 1.5 for the useful economic lives IOT each ol assgl.
THE GRACE FELLOWSHIP NOTES TO ThE FINANCIAL STATEMENTS YEAR ENDED 31 OECEMBER 2024 2 ANALYSIS OF EXPENDITURE 2024 2023 Direct Oe¥ignated R•strictsd Costs Fund Fund T¢t•l Fund• Tot• Funds Ch•¢•bIl a¢tiviti•'. Evangelistic events Ministy costs lindudiThJ ¥lUr#J wea(wsl Snary aNJ benovdsj Utrth In$urane¢ Subscriplk)n$ Legal c4)Sts ISafeguardiNa & Conyn Hcrttsel lTrtere51 cost5 Mainlenancenmprovernenith c4pttal OepreckqtTh Olher S47 6.756 547 7,010 6.500 3,432 742 2.648 284 1,119 5,659 3,646 3,466 751 2,335 304 720 1.9 1.220 1.804 254 3.432 742 659 1,220 1.310 1,667 1.220 1.310 Gov•rnane• cots'. Total r•1¢• •xp•nd•d 25.354 1.262 26.816 23.640 3 STAFF COSTS AND KEY MANANGeMENT PERSONNEL REMUNEIIATION 2024 2023 Gros8 %wes Empbyer'$ Nl ErnoYer'S pen8 Conl¢ren 27.929 25,333 1,369 639 1,280 230 26 843 av•riy Nmb•r ol èmF4oy885 durlw Ihe yeaf •s 1 12023.. 11. There are eryeeS with erndufflenls £60.(ts) 12023.. 01. Durirs the year £3.780 part1 lo truslees 8Th1 el¢ws for re#mbursernent ol GI¢h oxp¥Jiture. The r8irnbur$ernenl covered 8 var*ly of CA)Sl headiws induding Ministry expenses and maintenarrte costs. 10
THE GRACE FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 TANGIBLE ASSETS Freehold land and building$, equipment. fixtures and fFttlnos C<1 As al 1 January 2024 Addilsons Disposa15 Al 31 December 2024 211,160 18,309 229,469 Dapréclatlon As al 1 January 2024 Charge lor per1 Eliminated on disposals Al 31 Decembef 2024 51,078 1,220 52,298 Net book values At 31 Oecember 2024 177,171 Al 31 December 2023 160,082 Included in Freehold Propety is land and tyJilding project costs a not depreciated - see note 1.5 DEBTORS 2024 2023 Grft Aid reclaim due Other deblors an(1 prepayThenls 5,340 2.206 7,546 4,958 2,119 7,077 cREDORS. Amounts falllng due wlthln on• yr 2024 2023 Olher108ns and mortgages Other uedilors and accruals 3,569 1,059 4,628 3,426 1,036 4,462 CREDITORS.. Amounts falllng due after more than one year 2024 2023 Other loans and mortgages 1,950 1.950 5,835 5.835 The mortgage is seCUd by a legal charge over the propety.
THE GRACE FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 8 ANALYSIS OF NET AsseTS BETWEEN FUNDS TarbI0 fix¢d assets N•1 ¢UryeM Non cunènt •ssets liabilbtie¥ Tol•l General fvnds Designaied funds Restricted funds 28.862 130.COJ 18.309 177,171 64,610 56.431 6.395 127.436 93,472 184,481 24,704 302.657 11.9501 1.950 Desnaied fvnd8 comwise the fcW'. Transfèrs b•tron lunds 3.742 60.000 Valu• DMlgnit•d Dlr•ci Surplui I IDeficltl 3.742 60,000 D•slgnt•d Fundi Frevhokj Property Buildin9 Proje Trnn¥hr# R•¥tri¢t•¢l R••trict•d Fundi Dhct eo•ts fer LW• 14 14 Frfthy Youlh Club 1401 Buikling Proi8Ct 118.3091 24.097 Ck•nlng Bube5 255 43.683 214 1,262 18.309 24.112 9 FVND BALANCES As•t31 D•c•mb•r 2023 Axtht31 D•¢•rnb•r 2024 Suiplui I ID•ficlll Géneral Fund Fr••hold Property Bubb$ Buiklin9 Proloct- fesirpx•d 8ulldino Piqect- d•sgn•t• Collee Moming Frthy Youth Cty Carino lor Lrfe Chri>knas Offering kn kncal charity 114.371 120.739 235 120.8991 3,742 93.472 124,481 276 24,147 60.000 44 185 24.097 60.0 44 225 32 1401 235.702 66.955 302.657 Obl•cts ol fur$ Fre&hold Pioperty Th• Twstee5 h•ve d8sMJn8ied the fr•eW prowrfy, le85 the a$80Ci8ied fmance li8kn11iS. 88 th[$ 888ei iq noi Iety avalaN• ¥Thl bul is helj to prov# a base from the ean noertake Ils athths. The is p¥eparing to undert2ke work on the buihjwig to make the better equipped to ffleel the gro¥n9 need50f its membws and the rmMUnity The church runs a group for carers aThJ ioddrs The trolunry yal)n5 ale a¢counied for wilhln these Ficial stslefflen1rt Ilw tsffsei e4)endilure on equipfflenl and refreshments. The chwth mns a re4uLir coffee momin9 The church nms a Y¢)tslh a Fr¥l8yluwW.I BU11 Proie¢t Bubbks Coffee Momrmj Fri¢ay Youth Club 10 COMPANY STATUS The company Is a company limited by guarantee and h8Vnw a share camal Every member ol the company undertakes 10 Inbute in a windK)g vp sum exceedKw £10 whlst Ily are a member, within ¢Jne aft* 8$v ¢0 be 4 member. lowalds debts and liabilitses contraded before cea%n9 to be a mernljer. -12-
The Grace Fellowship - Accounts 31.12.24
Final Audit Report
2025-09-15
Created: 2025-09-15 By: Sue Robinson (sue@beresfordsaccountants.com) Status: Signed Transaction ID: CBJCHBCAABAAM_tYvbgZVom3XOTRtkYZDRYrhgqROofo
"The Grace Fellowship - Accounts 31.12.24" History
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