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2023-05-31-accounts

DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Company Registration Number: 10933584 Charity Registration Number: 1199130

Grace Life Church Ltd

Trustees Annual Report and

Unaudited Financial Statements for the year ended

31 May 2023

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DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Table of Contents

Page
Trustees’ Annual Report (incorporating the directors’ report) 3
Independent Examiner’s Report to the Trustees 8
Statement of financial activities (including Income and Expenditure account) 9
Statement of financial position 10
Notes to the financial statements 11

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DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Trustees’ Annual Report (Incorporating the Directors Report)

The Trustees, who are also the directors for the purposes of Companies Act 2006, present their report and the unaudited financial statements of the charity for the year ended 31 May 2023. Please note that Grace Life Church Ltd was registered as a charity with Charity Commission on 30 May 2022, charity number 1199130. The Trustees therefore present a full year’s view of the annual report to provide the necessary details for this newly formed charity. The trustees have adopted the provisions of Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Reference and administrative information

Registered charity name Grace Life Church Ltd Charity registration number 1199130 Company registration number 10933584 Principal office and registered office 5 Wakefield Road Drighlington Bradford England BD11 1DH

The Trustees Marian Angela Surgenor Margarite Kamanken-Bille Harris Nathan Bikindou Andrew Philip Grimshaw Alison Grimshaw

Accountants Ace Consult Accountants Ltd Chartered Management Accountants 30 Briardale Walk Altrincham WA14 5GU

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DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Trustees’ Annual Report (Incorporating the Directors Report)

Structure, governance, and management

Grace Life Church Ltd is a charitable company limited by guarantee without share capital. Grace Life Church Ltd was registered as a charity with the Charity Commission on 30 May 2022, charity number 1199130. Prior to this, Grace Life Church Ltd was a company limited by guarantee without share capital, company number 10933584 with Companies House.

Description of the charity

Grace Life Church Ltd is a small but growing community of Christian believers. We have a vision to serve the needs of both the members of the church and also those who may not attend services but live in our local area. We aim to care for people's spiritual, physical and mental needs. At the moment the majority of our activities are funded by the members of the church but we are increasingly looking for outside funding for our activities.

Recruitment and appointment of Trustees

Three of the five trustees of the charity are also directors of the company limited by guarantee. These are

Marian Angela Surgenor Andrew Philip Grimshaw Alison Grimshaw

Trustees give their time voluntarily and receive no benefits from the charity. Pastor Andrew Grimshaw however is salaried for the pastoral work of Grace Life Church Ltd

Recruitment and appointment of new trustees is in line with the articles and with the consent of the trustees. Suitable candidates are those who are sensitive to the needs and demands of the organisation and have relevant skills and experience.

In order to bring a range of skills and cover the broad reach of the charity, the trustees are from backgrounds that reflect the diversity of the people that the charity works with.

Trustees induction and training

New trustees are briefed by the existing trustees on the objects and operations of the charity and are referred to the guidance for new trustees published by the Charity Commission.

In addition, all new trustees are encouraged to read the Memorandum and Articles and discuss any queries arising from this with existing trustees.

All trustees are expected to be familiar with the work of the charity and get involved in events and services regularly. The charity places emphasis on staff and volunteer development and trustees are also sent on training courses seen as beneficial to the charity. All trustees are expected to broadly agree with the ethos of the charity and the statement of beliefs.

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DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Trustees’ Annual Report (Incorporating the Directors Report)

Trustees also discuss the future plans of the charity in relation to the objectives of the charity and ways to secure and strengthen the financial position of the charity. Plans for the charity are also put to the AGM at least once a year.

Additional governance issues

The charity is funded by donations.

Organisational structure, affiliations and day to day operatlons

Pastor Andrew Grimshaw, a trustee and director of the company, oversees the day to day running of the company mainly assisted by volunteers. Other trustees are also regularly involved in the work of the charity through the year.

Objectives and activities

Registered objectives

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DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Trustees’ Annual Report (Incorporating the Directors Report)

Main activities

Over the past year we have continued to meet on Sundays for worship and Christian teaching. As well as this we have enjoyed various social times together where we have sought to build stronger relationships with one another as well as reach out to those around us. We have been able to alter the way that we provide for our community. This year instead of sending food hampers to our local primary school we have opened up the church on a Friday where we run a food bank and the beginnings of a community cafe. We aim to expand this in coming years.

Summary of the main achievements during the year

At Christmas time we had a special Christmas service that was opened up to a wider community. We also held a Christmas ball that included food and entertainment. This was very well received and greatly enjoyed. We made great progress in restoring the building. We also finally got some heating in to the building.

Achievements and Financial performance

The charity received donations during the year amounting to £38,456. The charitable expenditure was made in line with the stated objects of the charity. The charity incurred £41,751 (including depreciation of fixed assets of £4,991) of support and governance costs during the year resulting in a deficit for the year of £3,295.

The charity has governance costs that comprise professional fees and other administration costs. This is in addition to the support costs of the charity as disclosed in the notes to the accounts. The governance costs mainly comprise of costs of keeping the assets of the charities in reasonable working order.

6

DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Trustees’ Annual Report (Incorporating the Directors Report)

Reserves policy

The Trustees acknowledge that the Charity requires reserves to protect the organisation and its charitable program by providing time to adjust to changing financial circumstances, such as an unexpected reduction in income or increase in costs.

It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between three and six months of the expenditure. The policy is also to keep the administration costs down and not to commit to any long-term programmes or financial commitments unless and until funding is secured for that particular program.

The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. The present level of reserves available to the charity as at 31 May 2023 are £55,509

The trustees' annual report and the strategic report were approved on 14 March 2024 and signed on behalf of the board of trustees by:

A P Grimshaw Trustee / Director

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DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Independent Examiner’s Report to the Trustees (Incorporating the Directors Report)

I report to the charity trustees on the financial statements for the year ended 31 May 2023 which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes.

Respective responsibilities of Trustees and Examiner

As trustees (and also directors of the company for the purposes of company law) you are responsible for the preparation of the financial statements. You consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. You confirm that the charity's gross income did not exceed £250,000 and I am qualified to undertake the examination by being a qualified member of The Chartered Institute of Management Accountants (CIMA).

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

  1. examine the accounts under section 145 of the 2011 Act;

  2. to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

  3. to state whether particular matters have come to my attention.

Basis of independent Examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ’true and fair view’ and the report is limited to those matters set out in the next statement.

Independent Examiner's statement

In connection with my examination, I can confirm that no matters have come to my attention that give me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ’true and fair' view which is not a matter considered as part of an independent examination; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of lreland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Ace Consult Accountants Ltd Chartered Management Accountants 30 Briardale Walk Altrincham WA14 5GU

Date: 14 March 2024

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DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Statement of Financial Activities (including Income and Expenditure Account)

Notes
Income and endowments
Donations and legacies
5
Investment income
Total Income
Expenditure
Expenditure on charitable activities
6
Expenditure on administration
7
Total expenditure
Net Income/(Expenditure)
Gain/(Loss) on revalaution of Fixed Assets
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 2022
Unrestricted
Restricted
Funds
Funds
Total Funds
Total Funds
£
£
£
£
33,264
5,192
38,456
63,553
-
2023
33,264
5,192
38,456
63,553
-
-
17,638
5,192
22,830
22,489
18,921
18,921
33,523
36,559
5,192
41,751
56,012
-
-
(3,295)
-
(3,295)
7,541
0.00000
-
-
-
(3,295)
-
(3,295)
7,541
-
-
58,803
58,803
51,262
55,509
-
55,509
58,803

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The notes on pages 11 to 16 form part of these financial statements.

9

DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Statement of Financial position

2023 2022
Fixed Assets Notes £ £
Property, Plant and machinery 12 65,840 67,440
Current Assets
Debtors 13 - 3,920
Cash at bank and in hand 1,880 3,563
1,880 7,483
Creditors: amounts falling due within one year 14 2,663 3,164
Creditors: amounts falling due after more than one year 9,548 12,956
Net current assets / (liabilities) (10,331) (8,636)
Net assets 55,509 58,803
Funds of the Charity
Revaluation reserve
Restricted funds - -
Unrestricted funds 55,509 58,803
Total Charity funds 16 55,509 58,803

For the year ending 31 May 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Trustees' responsibilities:

The trustees have not required the charity to obtain an audit of its financial statements for the year in question in accordance with section 476;

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of trustees and authorised for issue on 14 March 2024 and are signed on behalf of the board by:

A P Grimshaw Trustee / Director

M A Surgenor Trustee / Director

10

DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Notes to the Financial Statements

1 General information

The charity is a charitable company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. Its registered office address is as shown in the Trustees report.

2 Statement of compliance

These financial statements have been prepared in compliance with Financial Reporting Standard 102 (FRS 102), 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, including the provisions of Section 1A "Small Entities" and the Companies Act 2006, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

3 Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and property plant and machinery measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At 31 May 2023, the charity has net assets of £55,509 (2022: £58,803). The trustees pledge their continued support to the charity. They are therefore happy to prepare these accounts on a going concern basis.

Fund accounting

Unrestricted funds held by the charity are funds that can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds held by the charity represent funds where there is a contractual requirement for it to be spent on a particular purpose and returned if unspent.

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DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Notes to the Financial Statements

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Financial instruments

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computer equipment: 25% on cost Plant and machinery: 25% on cost Buildings: 4% on cost

12

DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Notes to the Financial Statements

Impairment of Tangible assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash- generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

4 Limited by guarantee

Grace Life Church Ltd is a registered charity and a company limited by guarantee and does not have a share capital. In the event of the charity being wound up, members are required to contribute an amount not exceeding £1 each.

5 Donations, Legacies & Other Income
Church activities
Donations from members
Investment Income
Bank interest
Gainsl(losses) on sale of fixed assets		 2022
Unrestricted
Restricted
Funds
Funds
Total Funds
Total Funds
£
£
£
£
-
3,700
3,700
-
33,264
1,492
34,756
63,553
2023
33,264
5,192
38,456
63,553
-
-
-
-
-
-

13

DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Notes to the Financial Statements

6 Expenditure on Charitable activities by fund type
Events
Donations
Intercompany activities
Analysis of inter company activities
7 Expenditure on Administratlon
Repairs & Maintenance
Bad Debts
Accountancy
IT Software and Consumables
Insurance
Bank charges
Miscellaneous
Depreciation
8 Net Income/(Expenditure)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation of tangible fixed assets
9 Independent Examination fees
Fees payable to the independent examiner for:
Independent examination of the financial statements
10 Staff Costs
The total staff costs and employee benefits for the reporting
period are analysed as follows:
Wages and salaries
Employer contributions to pension plans-		 2022
Unrestricted
Restricted
Funds
Funds
Total Funds
Total Funds
£
£
£
£
3,700
3,700
17,638
1,492
19,130
22,489
-
2023
17,638
5,192
22,830
22,489
-
-
-
-
2022
Unrestricted
Restricted
Funds
Funds
Total Funds
Total Funds
£
£
£
£
1,940
1,940
14,890
3,920
3,920
2,000
1,660
1,660
2,265
1,410
1,410
1,386
662
662
578
3
3
421
4,336
4,336
7,008
4,991
4,991
4,976
2023
18,921
-
18,921
33,523
-
-
2022
Unrestricted
Restricted
Funds
Funds
Total Funds
Total Funds
£
£
£
£
4,991
4,991
4,976
2023
4,991
-
4,991
4,976
2022
Unrestricted
Restricted
Funds
Funds
Total Funds
Total Funds
£
£
£
£
1,200
1,200
1,000
2023
1,200
-
1,200
1,000
2022
Unrestricted
Restricted
Funds
Funds
Total Funds
Total Funds
£
£
£
£
13,296
13,296
13,505
-
2023
13,296
-
13,296
13,505

14

DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

Notes to the Financial Statements

11 Trustee remuneration and expenses

A P Grimshaw is a salaried employee of the charity. No other trustee is remunerated or on other benefits from employment with the charity

12 Property, Plant and Machinery

Cost
Brought forward
Additions
Disposals
As at 31 May 2023
Depreciation
Brought forward
Charge for the year
Eliminated on Disposals
Net Book Value
As at 31 May 2023
As at 31 May 2022
13 Debtors
Other debtors
14 Creditors: amounts falling due within one year
15 Creditors: amounts falling due for more than one year
16 Analysis of Charitable funds
General funds
Restricted funds
17 Analysis of Net Assets between funds
Tangible fixed asset
Current assets
Creditors less than 1		 01-Jun-22
58,803
-		 Property
Plant
Computer
Total
Equipment
79,753
15,143
825
95,721
-
3,391
-
3,391
-
-
-
-
79,753
18,534
825
99,112
15,048
13,164
69
28,281
3,190
1,595
206
4,991
18,238
14,759
275
33,272
61,515
3,775
550
65,840
64,705
1,979
756
67,440
2022
Unrestricted
Restricted
Funds
Funds
Total Funds
Total Funds
£
£
£
£
-
-
-
3,920
2023
-
-
-
3,920
2,663
2,663
3,164
9,548
9,548
12,956

Income
Expenditure
Revaluations
31-May-23
33,264
36,559
-
55,509
5,192
5,192
-
-
58,803 38,456
41,751
-
55,509
s
year		 2022
Unrestricted
Restricted
Funds
Funds
Total Funds
Total Funds
£
£
£
£
65,840
65,840
67,440
1,880
1,880
7,483
(2,663)
(2,663)
(3,164)
2023
65,057
-
65,057
71,759

15

DocuSign Envelope ID: 63D9A164-A37A-41FE-AA48-658D9ABD7702

Grace Life Church Ltd Charitable Company Limited by Guarantee Year Ended 31 May 2023

18 Related party transactions

The Charity received £3,700 for the Ugandan mission work undertaken by Marian Surgenor, Trustee and Director of the company. This was very much appreciated and enabled several activities/projects to be supported. The funds were distributed over three trips and covered the following learning institutions

Schools:

A few primary schools in rural districts in southern Uganda were supported. The support provided included, school items such as pencils, books and playground equipment. The children can have a hot meal at lunch time. There are several primary school children from impoverished families and the funds were able to support school fees and uniforms for these children.

Technical College:

The technical college is in a post conflict region of Northern Uganda and is three years old. During this time the number of students attending has steadily increased. The funds were able to support young people attending the college learning a trade. The opportunity to learn vocational skills enable these young men and women to earn a living or set up a small business, therefore, supporting their families and growing the economy. This also prevents these young people from getting into debt. The trades/skills on offer are car and motorbike mechanics, building, hairdressing, hospitality, tailoring and IT skills. These are all in line with the curriculum of the Ugandan government vocational skills certificate/diplomas. The funds assisted in the provision of fees and some equipment for the students. There is a process in place by the college to ensure that the students receiving financial assistance are properly assessed and funds are distributed through a robust process.

19 Restricted Funds

As at 31 May 2023, the amount of restricted funds were £5,192 which were monies for the Uganda trip £3,700 and Charis Bible College fees £1,492

16