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2024-12-31-accounts

GRACE CHURCH UPTON CHARITY NUMBER 1201545 REPORT ANDACCOUNTS FOR THE YEAR ENDED 31 DECEM8ER2024

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GRACE CHURCH UPTON

CONTENTS AND CHARITY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024

CONTENTS

Trustees:

Revd Jonathan Deja (Chair) Revd Nicholas Alexander John Scully Dr Neil Menon Dr Rachel Menon Dr Andrew Ward Joanne Alderman Joanna Green Madeleine Peston Matthew Kinton (Treasurer) Dr Owen Davies Revd Amanda Marriott (stepped down on 14/3/2024)

Governing Document: adopted12/12/2022, approved 11/01/2023 and amended 24/03/2023 Charity Number: 1201545

Principal O�ice: 27 Barring Street, Upton, Northampton, NN5 4DD

Accountant and Independent Examiner

Bankers: Metro Bank, One Southampton Row London WC1B 5HA Web: metrobankonline.co.uk

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GRACE CHURCH UPTON

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

Objectives and Activities

The Charity's principal objects, as set out in its constitution, are

“1. the advancement of the Christian faith in accordance with the Basis of Faith, and other charitable work for the public benefit, within (but not limited to) the parish of Duston and Upton in the Diocese of Peterborough;

  1. such other charitable purposes as shall, in the opinion of the Charity Trustees, put into practice the Christian faith in accordance with the Basis of Faith, including but not limited to:

  2. the prevention and relief of need, hardship and sickness;

  3. the advancement of education;

  4. the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances, with the object of improving their conditions of life, provided that the advancement of such purposes must be undertaken in a manner that is consistent with the doctrinal distinctives and ethical statements, as may be adopted and amended by the CIO from time to time.”

The vision of the Charity is to share life in Christ, seeing the wonderful good news of Jesus' rescue, which transforms, unites and equips a community, prayerfully shared with all in the Upton area.

In planning the activities of the Charity, the Trustees have had regard to the Charity Commission's guidance on public benefit, and are satisfied that the activities mentioned in this report have all been for the public benefit.

Structure, Governance and Management

Grace Church Upton was established as a new church in 2021.

The Charity, which is a church, was registered as a Charitable Incorporated Organisation on 11/01/2023, with charity number 1201545. It is a CIO governed by a Constitution and Rules. The policy and operating decisions of the Charity rest with the Trustees who meet regularly to monitor the activities of the Charity.

The church operates within the Diocese of Peterborough in the Church of England.

ln accordance with the Rules trustees may be appointed by a majority of the existing trustees. There must be at least 3 charity trustees and a maximum of 12, including up to 2 External Trustees who can serve up to two terms of 3 years. Trustees must meet a minimum of 4 times a year and a quorum exists where 50% of current trustees are present, subject to a minimum quorum of 3 people.

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GRACE CHURCH UPTON

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

Achievements and Performance

Church of England

Grace Church Upton continues to exist as an independent CIO. Although it is part of the Church of England’s Diocese of Peterborough, and operates with the full support of the incumbent of the parish and of the bishop, it does not have a Bishop’s Mission Order or other means to operate in a regularised fashion within the structures of the Church of England. The minister, Jonnie Deja, continues to be Associate Vicar at Moulton Parish Church and to receive a Church of England stipend. The vicarage and principal o�ice, 27 Barring Street, is owned by the Diocese.

Grace Church noted with deep sadness the House of Bishops’ drift towards denial of the historic orthodox Christian faith during 2024.

People

Sundays

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GRACE CHURCH UPTON

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

Prayer and Discipleship

Outreach

Partnership

Financial Review

Unrestricted income for the period was £146,088 and restricted income £6,018. Total income £152,106 (2023: £165,313) Total unrestricted expenditure for the period amounted to £54,857 and restricted fund expenditure was £14,307. There was therefore a surplus in the unrestricted fund of £91,230 and a deficit in the restricted fund of £8,289 this year. This was covered by restricted funds brought forward, see note 2 page 10.

The Ukraine Fund has a remaining balance of £3,370 after expenditure of £549.58. The balance will be expended during 2025.

Total bank balances increased from £85,149 (2023) to £168,091 at the year end.

The trustees keep the internal and external risk factors for the church under review. In particular are the risks that congregation numbers could fall and there is the possibility that the charity could leave the Church of England and thereby become fully responsible for the costs of ministry, particularly stipend and accommodation.

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GRACE CHURCH UPTON

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

In the light of the above, the trustees have resolved not to pay the parish share request for 2024, saving £15,000 (2023).

The trustees have further agreed and designated a Vicarage Fund of £30,000, which will remain as a standing fund until needed or re assigned to other projects.

the year and Ruth Taylor who received £2,000 in the following year to 31 December 2025. This amount is shown in “Liabilities” on page 10.

Expenses to the Trustees

One trustee received reimbursed expenses and one related party to two trustees received the benefit of a bible training course prior to commencing a voluntary internship.

There was also a contract of employment with a related party, who is the spouse of a trustee. The contract terminated in December 2024. The trustees have followed a robust policy regarding conflicts of interest arising through this employment contract.

Details are given in the Notes to the Accounts, note 5 page 11.

No other trustee received any other remuneration from the Charity during the period, as the minister receives a stipend from the Church Commissioners.

Reserves and Investment Policy

The Trustees have established a policy that a sensible level of free reserves should be maintained to ensure the Charity can continue to operate if income is below budget or if unplanned contingencies arise. A “fixed” reserve of 6 months sta� costs, including pension and the rent overhead should be used as a measure of the minimum required in this event. The trustees investigated a higher rate interest account, in order to set aside an amount of £40,000 under this policy, which was implemented in the year to 31 December 2025. The amount of fixed reserve will be reviewed annually. Free reserves in excess of £40,000 are regarded as floating reserves, which can be designated for internal or outreach projects in the future.

At 31 December 2024 the free reserves totalled £76,019. The calculation is shown in the Notes to the Accounts note 4 page 11. The trustees are satisfied that this level of reserves is appropriate for a young church that is establishing priorities for its mission and means that the church continues to move forward with a sound financial base. The charity is able to pay creditors in full for at least 12 months from the balance sheet signature date.

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GRACE CHURCH UPTON

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

Responsibilities of Trustees Under Charity Law

statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

accurate view of the state of a�airs of the charity and of the receipts and payments of the charity for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with 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 applicable Charities (Accounts and Reports) Regulations, and the provisions of the CIO constitution. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

information included on the charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

Approval

This report was approved by the Trustees and signed on their behalf by:

Matthew Kinton

Mr Matthew Kinton

Treasurer

Date: 28 October 2025.

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GRACE CHURCH UPTON FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Independent Examiners Report to the Trustee of Grace Church Upton

I report to the trustees on my examination of the accounts of grace Church Upton for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity trustees of Grace Church Upton you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the accounts carried out under section 145 of the 2011 Act and in carrying out my examination of the accounts I have followed all the applicable Directions given by the Charity Commission under section 145 (5) (b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1) accounting records were not kept in respect of Grace Church Upton as required by s130 of the Act; or 2) the accounts do not accord with those records.

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.

Sarah Smith

Sarah A Smith (Mrs) MSc BSc FCCA FCIE

28 October 2025

TSA (Oakham) Ltd

Temple House 8, Main Street Cold Overton LEICS LE15 7QA

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GRACE CHURCH UPTON FINANCIAL STATEMENTS

FOR THE YEAR 1 JANUARY 2024 TO 31 DECEMBER 2024

Receipts and Payments Account
Receipts
Income from donations and legacies
Gifts from churches
Grants & fees
One off donations
Planned Giving
Gift Aid tax received
Church Groups
Weekend Away
Children and Youth: (JTD, Roots)
Outreach
Upton Tots
Summer Holiday Club
Investment Income
Bank Interest
Other Income
Start up Donations
Ukraine Support: transfer of funds
Total Receipts
Payments
Staff
Parish share
Employee and pension
Conferences and hospitality
Training
Administration
Insurance
Office and promotional materials
Independent Examination and Accounts
Mission Giving
Grace Church Coventry
Church Groups
Weekend Away
Sunday Service
Sunday Service : Rent
Children and Youth (JTD and Roots)
Event hire and refreshments
Outreach
Summer Holiday Club
Ukraine - Support
Other events
Other
Start Up Costs
Total payments
Total Net receipts ( - expenditure)		 General Fund
2024
£
Note 3
37,133.75
3,000.00
15,232.17
54,820.00
22,903.80
10,981.50
120.00
291.80
885.00
719.49
0.00
0.00
146,087.51
0.00
12,897.41
1,085.92
240.00
354.29
1,476.31
790.00
6,000.00
14,422.56
3,703.15
9,010.00
440.21
815.56
1,878.91
0.00
1,742.81
0.00
54,857.13
91,230.38		 Restricted
Fund
2024
£
Note 2
0.00
0.00
5,700.00
310.00
0.00
0.00
0.00
0.00
0.00
8.19
0.00
0.00
6,018.19
0.00
13,757.44
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
549.58
0.00
0.00
14,307.02
-8,288.83		 Total
Funds
2024
£
37,133.75
3,000.00
20,932.17
55,130.00
22,903.80
10,981.50
120.00
291.80
885.00
727.68
0.00
0.00
152,105.70
0.00
26,654.85
1,085.92
240.00
354.29
1,476.31
790.00
6,000.00
14,422.56
3,703.15
9,010.00
440.21
815.56
1,878.91
549.58
1,742.81
0.00
69,164.15
82,941.55		 Total
Funds
2023
£
11,434.00
4,000.00
9,039.00
36,815.00
0.00
8,771.39
135.00
0.00
730.00
69.98
94,318.78
3,895.35
169,208.50
15,000.00
31,324.11
1,338.10
0.00
366.86
724.53
0.00
0.00
11,470.66
1,688.43
8,113.75
743.74
977.99
1,706.95
6,152.22
946.78
3,505.09
84,059.21
85,149.29

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GRACE CHURCH UPTON FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

General Fund
2024
Statement of Assets and Liabilities
£
Metro Bank Instant Access Deposit Account
Metro Bank Community Account
Cash
Total Assets
Represented by:
Accumulated Funds
At
01 JANUARY 2024
73,490.63
Total Net receipts ( - expenditure) in Year
91,230.38
At
31 DECEMBER 2024
164,721.01
Liabilities:
The trustees have contracted to pay as follow:
Accounts preparation and Independent Examination
This will be paid in 2025
Ruth Taylor, Mission Partner, Ministry Associate.		 Restricted
Fund
2024
£
11,658.66
-8,288.83
3,369.83		 Total
Funds
2024
£
78,641.00
89,162.00
288.00
168,091.00
85,149.29
82,941.55
168,090.84
£
735.00
2,000.00
2,735.00		 Total
Funds
2023
£
8,463.11
76,686.18
0.00
85,149.29
0.00
85,149.29
85,149.29

Notes

Restricted Funds
Trainee Minister Fund
Ukraine Fund
Total		 At 1 Jan 2024
Income
Expenditure
£
£
7747.44
6,010.00
-13,757.44
3911.22
8.00
-549.58
11658.66
6,018.00
-14,307.02		 31 Dec 2024
£
0.00
3,369.64
3,369.64
3
The trustees have resolved to designate funds for
A) Mission Partners Fund
The performance of the church's Mission objectives.
B) Vicarage Fund
The future provision of accomodation for the Minister.
At 1 Jan 2024
Income
Expenditure
A) Mission Partners Fund
Grace Church Coventry
13,817
8,150
-6000
B) Vicarage Fund
0
30,000
0		 31 Dec 2024
15,967.00
30,000
45,967.00

A second mission partner, Ruth Taylor, had been identified and a payment authorised at the October 2024 trustees meeting, but transferred during the 2025 financial year.

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GRACE CHURCH UPTON FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4
Calculation of floating reserves
Total Unrestricted Fund at 31 December 2024
Designated Funds
Mission Partners
15,967
Vicarage Fund
30,000
Fixed Investment Reserve
40,000
Provision for liabilities
2,735
Floating reserves
76,019		 £
164,721.01
88,702
76,019
164,721.00

5 Trustees and Related Parties Expenses

The charity has reimbursed the following out of pocket expenses for trustees attending or facilitating charitable activities.

a) One trustee was refunded £572.78 in the period to 31 Dec 2024.

The categories of expense were hospitality and conference costs including travel and accomodation.

signed on behalf of the trustees on 28 October 2025

Matthew Kinton

Mr Matthew Kinton Treasurer