Graceway: Registered charity no. 1198296
GRACEWAY
FINANCIAL STATEMENTS
for the period ended 31 March 2023
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Graceway: Registered charity no. 1198296
GRACEWAY
Year ended 31 MARCH 2023
| CONTENTS | |
|---|---|
| Page | |
| Independent Examiner’s Report | 3 |
| Client Approval CerFfcate | 4 |
| Trustees Report | 5 |
| Statement of Financial AcFviFes | 7 |
| Balance Sheet Summary | 8 |
| Analysis of Income and Expenditure and | 9 |
| Notes to the Financial Statements |
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Graceway: Registered charity no. 1198296
GRACEWAY
Period ended 31 MARCH 2023
Report of the Independent ExaminaFon To the Trustees of GRACEWAY
I report on the accounts of the charity for the period ended 31 March 2023 which are set out on pages 2 to 3.
RespecFve responsibiliFes of the charity trustees and examiner
As the charity’s trustees you are responsible for the preparaFon of the accounts. You consider that an audit is not required for the year under secFon 144(2) of the ChariFes Act (the 2011 Act) and that an independent examinaFon is needed. It is my responsibility to:
Examine the accounts under secFon 145 of the 2011 Act
Follow the procedures laid down in the general direcFons given by the Charity Commission under secFon 145(5)(b) of the Act and
State whether parFcular maXers have come to my aXenFon.
Basis of Independent Examiner’s Report
My examinaFon was carried out in accordance with general direcFons given by the Charity Commission. An examinaFon includes a review of the accounFng records kept by the charity and a comparison of the accounts presented with those records. It also includes consideraFon of any unusual items or disclosures in the accounts and seeking explanaFons from you as elders concerning any such maXer. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s statement
In connecFon with my examinaFon, no maXer has come to my aXenFon:
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which gives me reasonable cause to believe that in any material respect the requirement to keep accounFng records in accordance with secFon 130 of the 2011 Act; and to prepare accounts which accord with the accounFng records and to comply with the accounFng requirements of the 2011 Act have not been met: or
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to which, in my opinion, aXenFon should be drawn in order to enable a proper understanding of the accounts to be reached.
Richard Smart BA (Hons) Accountant
120 Bohemia Road St Leonards on Sea East Sussex TN37 6RP
21[st] July 2023
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Graceway: Registered charity no. 1198296
GRACEWAY
Period ended 31 MARCH 2023
Client Approval CerFficate
The accounts for the period ended 31[st] March 2023 were approved by the trustees on 22[nd] July 2023 and signed on their behalf by
Mrs Sandra Janet Medway Chair of Trustees
Charles Jardine Chief ExecuFve Officer
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Graceway: Registered charity no. 1198296
TRUSTEES ANNUAL REPORT
LEGAL & ADMINISTRATION INFORMATION
Graceway is a Charitable Incorporated OrganisaFon, which was registered with the Charity Commission of England & Wales on 18 March 2022. Registered number 1198296.
Trustees:
Sandra Janet MEDWAY (Chair) Amando Vermont Lancelot BROWN (Secretary) Edwin Pena MUOZ (Treasurer)
appointed 2022 appointed 2022 appointed 2022
ExecuFves:
Charles Rapsey JARDINE (Chief ExecuFve Officer) Rebecca Louise HODGE (ExecuFve Officer for Frontline Services)
appointed 2022 appointed 2022
Principal Address:
1-2 CrickeFng Lane, Herstmonceux, East Sussex BN27 1QL
Independent Examiner:
Richard Smart, Accountant
Trustee MeeFngs
Trustees met twice in 2021 (Pre-registraFon), once in 2022 and twice in 2023. The first AGM is planned for early autumn 2023.
The Chair met with ExecuFves on a regular basis during 2022/2023.
TRUSTEES REPORT
The Trustees present their annual report and financial statements for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounFng policies set out in note 1 to the financial statements, and comply with the the ChariFes Act 2011 and the Accoun&ng and Repor&ng by Chari&es: Statement of Recommended Prac&ce applicable to chariFes preparing their accounts in accordance with the Financial ReporFng Standard applicable in the UK and Republic of Ireland” (FRS102) (second ediFon).
Charitable ObjecFves & AcFviFes:
Objects:
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1.1. The advancement of the ChrisFan religion in Medway, Kent and elsewhere in the UK through the holding of prayer meeFngs and bible classes, ChrisFan outreach services, and the provision of informaFon on ChrisFanity to enlighten others about the ChrisFan religion;
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1.2. The relief of those who are in need in Medway, Kent and elsewhere in the UK by reason of financial hardship or social and economic disadvantage, through the provision of services, items, faciliFes and grants of money to relieve those needs, either directly or through other chariFes; and
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Graceway: Registered charity no. 1198296
- 1.3. The relief of sickness and the preservaFon of both mental and physical health in people in Medway Towns, Kent and elsewhere in the UK through the provision of counselling and support, and educaFonal informaFon.
Public Benefit:
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what acFviFes the charity should undertake for the public benefit.
In parFcular, the Graceway team brings together professional and faith based services and seeks to collaborate with other ChrisFans and people of goodwill. Our focus is to combine and share skills, experFse and resources in a joined up way that will meet local needs across the Medway Towns.
2022/2023 AcFviFes:
Prior to charity registraFon, Graceway volunteers met with various people from several stakeholder groups across the Medway Towns. These included church leaders and groups such as Churches Together in Medway, Medway Council and Medway Voluntary AcFon, in order to hear about local needs. Following this, it was collecFvely agreed that GW would work collaboraFvely with a consorFum of Key Partners on developing a local community hub called Hope Haven Hub (H3). The aim would be to co-ordinate a range of frontline services.
Our reporFng period began on 1st April 2022 and the Graceway team, consisFng of the Execs and Chair, met with Key Partners to plan and implement the Hub and its services during 2022/2023. MeeFng invitees, acFviFes and decisions were recorded by way of Minutes which were circulated to aXendees.
In October 2022 Graceway Counselling (GWC) was launched, amer successful funding bids. An informaFon leaflet was created and a team of qualified Counsellors were recruited. Contact was made with agencies and community groups with clients wanFng to be referred for counselling sessions.
In January 2023, and in collaboraFon with Key Partners, Wellbeing Courses (GWB) were organised at two church locaFons. In February funding was sought for the recruitment and training of new course leaders for addiFonal support groups such as Kintsugi Hope & Fresh Start.
In February 2023, following a successful funding bid, a self employed Project Coordinator was appointed to develop Graceway’s Mental Health Project (GWMHP), to include GW Counselling & Wellbeing.
Key Partners:
Graceway is working with Churches Together in Medway; Emmaus URC; The Vines URC; New Life Community Church and Medway Foodbank.
Funding Partners:
Graceway received private donaFons and grant funding from The NaFonal LoXery; the Benefact Trust; Woodward Charitable Trust; Arnold Clark and the Co-op.
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Graceway: Registered charity no. 1198296
| STATEMENT OF FINANCIAL ACTIVITIES | ||||
|---|---|---|---|---|
| (IncorporaFng Income & Expenditure Account) | ||||
| for the period ended 31 March 2023 | Unrestricted | Restricted | 2023 | |
| Note | £ | £ | £ | |
| INCOME FROM: | ||||
| DonaFons and Legacies | 2 | |||
| DonaFons | 3,859 | 3,859 | ||
| Grants | 4,900 | 20,250 | 25,150 | |
| Donated goods and services | ||||
| Charitable acFviFes | ||||
| Trading acFviFes | 3 | 1,195 | 1,195 | |
| Total income | 9,954 | 20,250 | 30,204 | |
| EXPENDITURE ON: | 4 | |||
| Raising funds | ||||
| Fundraising acFviFes | 2,135 | 2,135 | ||
| Charitable acFviFes | ||||
| Management, Counselling & Mental Health | 1,225 | 9,523 | 10,748 | |
| Legal costs | 4,062 | 4,062 | ||
| Independent ExaminaFon | 250 | 250 | ||
| Insurance | 517 | 517 | ||
| Sundry expenses | 399 | 399 | ||
| Total expenditure | 8,588 | 9,523 | 18,111 | |
| Net Income or Expenditure for the period | 1,366 | 10,727 | 12,093 | |
| Funds Transfers | -528 | 528 | 0 | |
| Total funds carried forward at 31 March 2023 | 838 | 11,255 | 12,093 |
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Graceway: Registered charity no. 1198296
| BALANCE SHEET | 2023 | |
|---|---|---|
| as at 31 March 2023 | Note | £ |
| ASSETS | ||
| Current assets | ||
| Bank Account | 5 | 17,730 |
| Current liabiliFes | ||
| Accruals | 6 | 705 |
| Long-term creditors | ||
| Startup loan | 7 | 4,932 |
| Total net assets | 12,093 | |
| FUNDS | 8 | |
| Unrestricted | 838 | |
| Designated | ||
| Restricted | 11,255 | |
| Total funds | 12,093 |
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Graceway: Registered charity no. 1198296
NOTES TO THE ACCOUNTS
for the period ended 31 March 2023
Note 1: AccounFng policies
Basis of preparing the financial statements:
The financial statements of the charitable incorporated organisaFon (CIO), which is a public benefit enFty under FRS 102, have been prepared in accordance with the ChariFes SORP 2018 (FRS 102) ‘AccounFng and ReporFng by ChariFes: Statement of Recommended PracFce applicable to chariFes preparing their accounts in accordance with the Financial ReporFng Standard applicable in the UK and Republic of Ireland (FRS 102) (effecFve 1 January 2019)’, Financial ReporFng Standard 102 ‘The Financial ReporFng Standard applicable in the UK and Republic
The financial statements have been prepared under the historical cost convenFon except for investments which are included at market value, as modified by the revaluaFon of certain assets.
The financial statements are presented in sterling, rounded to the nearest pound.
Going concern
The Trustees have considered both the charity’s financial posiFon at the year end and the impact of future acFviFes. The Trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.
Income
All income is recognised in the Statement of Financial AcFviFes. Once the charity has enFtlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.
Volunteers & donated goods and services
The value of services provided by volunteers is not incorporated into these financial statements. Where goods or services are provided to the charity as a donaFon that would normally be purchased from suppliers, this contribuFon is included in the financial statements at an esFmate based on the value of the contribuFon to the charity.
Expenditure
LiabiliFes are recognised as expenditure as soon as there is a legal or construcFve obligaFon commiqng the charity to that expenditure, it is probable that a transfer of economic benefits will be required in seXlement and the amount of the obligaFon can be measured reliably. In the case of grants payable, these condiFons are met when the amount of grant awarded has been communicated to the recipient, and there are no condiFons aXached to the grant which give the charity discreFon to avoid this commitment. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly aXributed to parFcular headings, they have been allocated to acFviFes on a basis consistent with the use of resources.
AccounFng esFmates & judgements
In preparing the financial statements esFmates and judgements have been made when applying the accounFng policies. These are evaluated on an ongoing basis and are based on historical experience.
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Graceway: Registered charity no. 1198296
Raising funds
IniFally a fundraiser was contracted to raise funds, mainly for services and some core costs. Startup funds were loaned, and donaFons received. A website and social media promotes Graceway’s acFviFes and services. The Chair helps with fundraising, including government grants and trust funds.
Fund accounFng
According to SORP 18 (FRS 102), income and expenditure are analysed on the basis of their purpose, e.g. restricted for services.
| Note 2: DonaFons and legacies | £ |
|---|---|
| Fundraising income: | |
| DonaFons | 3,859 |
| Grants | 25,150 |
| Gim Aid | |
| 29,009 | |
| Donated goods and services e.g. food and IT services. During the startup period | |
| the charity has received unquanFfed goodwill benefts. | |
| Note 3: Trading acFviFes income | £ |
| Not-for-proft Counselling service income | 1,195 |
| Paying clients enable services to break even. | |
| Note 4: Total expenditure | £ |
| Raising funds | |
| Fundraising acFviFes | 2,135 |
| Charitable acFviFes | |
| Other trading acFviFes | |
| Management support costs | 1,225 |
| Counselling and Mental Health fees | 9,523 |
| Support costs | |
| Legal costs | 4,062 |
| Independent ExaminaFon | 250 |
| Insurance | 517 |
| Sundry expenses | 399 |
| 18,111 |
Paid fundraising yielded £12,650, compared with voluntary efforts yielding £12,500. Direct services costs @ £9,523 are low, not reflecFng the market value of the work. Legal setup costs were relaFvely high, while acccrued Independent ExaminaFon fees should be minimal.
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Graceway: Registered charity no. 1198296
| Note 5: Cash at Bank | £ |
|---|---|
| Lloyds Treasurer's Account | 17,730 |
| Records are reconciled monthly | |
| Note 6: Current liabiliFes | |
| Counselling and Mental Health fees | 455 |
| Independent ExaminaFon (esFmated) | 250 |
| 705 | |
| Accrued costs are due within one year. | |
| Note 7: Long-term creditors | £ |
| Startup loan | 4,931 |
| PaFent loan is interest free and unsecured. | |
| Note 8: Funds | £ |
| Unrestricted | 838 |
| Designated | |
| Restricted | 11,255 |
| 12,093 | |
| Restricted funds from Benefact Brighter Lives pays for mental health project | |
| coordinaFon for 12 months. Unrestricted funds enable general charitable | |
| acFviFes. |
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Graceway: Registered charity no. 1198296 Page 12 of 12