2023-12-31-accounts

GRACE BAPTIST TRUST CORPORATION ANNUAL AccouNTS 2023

GRACE BAPTIST TRUST CORPORATION ANNUAL ACCOUNTS 2023 INDEX Pa eNo. Annual Report and Accounts 35-45 Comrnon Investment Fund 47-49 T￿￿t Funds 51-54 Miscellaneous Inforn)ation ANNUAL REPORT AND ACCOUNTS Chairman's lntroduth.on Report of the Directors 10-11 Report of the Auditors 12 Stalemenl of Financial Activilies 13 Income and Expenditure Account 14 Balance Sheet Cash Flow Statement 16-34 Notes to the Accounts

GRACE BAPTIST TRUST CORPORATION A COMPANY LIMITED BY GUARANTEE REGISTRATION NUMBER $92488 A REGISTERED CHARITY REGISTRATION NUMBER 251675 ANNUAL REPORT CHAIRAIAN'S INTRODUCTION 11 is my wivilege to this yearfs 8mual reFQrt crf the Grace Baptist Trust CC￿porati0n. We acknowledge God's faithfijlness and thank him for his goodness IhroLNJh another year as we have endeavoured to support encowage the work ofthe thurch95. 1 would like lo thank the office staff for their continued faithlul sgrviee, as well as eath of my colleagues ￿ the Council who give th8ir lime. not only in attending commrtt8e meetings, but also in giving their wofessional advice so willingly. For us, (( is truly a privilege to sèrve OLty Lord in guKling, advising, helping. suprKJrting aTrJ eneouraging churchBs and God's pe(pl8 as they in tum èndeavour lo serve Him I￿llY in furtheriro the cause of Christ. 11 is with pleasure that l am le lo infom you that Mr Jonathan Sayers la membw of the churth in Bedworth) joined us on the Council on 5th Jun& 21723. Hcwever. rt is with sadness that I must infonn you of the death ofone ofour longer-seNiTrJ Counal M￿barS, Mrknlfew Keen, cn 4 Fe￿uary2024. He had served the Lord on th8 c￿￿¢11 since 1999 we will miss his wise arKI insithtful cg)ntritxrtw)ns to Olf discussKJns. In my report last year, I stated that the m6ets.ng in Bethel Chapel moved to allemative acccfflmodation and retumed the thapel keys to us aTrJ thwe were infdknvshipwith the Grace Baptist Partnership to plant a new Grace Baptist Church in ￿rnb￿0n. ￿ is with gratitude to God that l am ab￿ to infomi you Ihatwmbledcfi Baptist Churthwas formally consti(uled on 234)ri12023 and that Mr Barry lfjng was reeognised a$ their pastor on 20 J8nLHry 2024. We a￿ now nvestigating providing support for 8 churth planting projec in Exeler. Regrettably. it is not all go(MJ ne4VS. Sometimes tt is rnt aMf8yS lThical to consider replanting a th￿Ch once the original church has closed. There ¥e a wmber of considerations lo be bome in mind su¢h as the reasons why the orwJinal thurch closed, the condrtion of the wemises, the stze and demoaraphics of the population, and the potential work to become estsblished. We regr81 that, during the year, it was necessary for two of the chapels undw trusteeship to be sold and furthw details are given in our Financial Review on page 6. We also sold the chapfjls in Lea in w￿hire and Ryarsh in Kent. Under the terms ofthe Charity ComMissic￿ Scheme ￿vemIng the sale ofthe Lea Chapel, the proceds are hehl in trust for the benefit ofThe lfj'ros ch￿Ch in neithtthiring Malmesbjry Tho village of Ryarsh is very small and a church plant that was beiro overseen by the Gra￿ Baptist Partnership was not sustainable there and IF￿ cause has already rek)¢ated lo the muth larger town of Maid$t￿¢ just 8 few miles away. Our expectation is that the funds from the sal¢ of the Ryarsh Chapgl will be used to purthase propgrty in Maidston•. As the funds ofthe Lea and Ryarsh Chapels are held ur¥Jerseparale trusts, ¥KI ￿ rK)t telcxYJ OLrtrighl to the Grace Baptisl Trust CorwatThi, they do not appe￿ in the Corwation's accounts. However. we covet yC￿r FTryers for these causes. One ofthe challenges weface is the need forfinancial COntri￿1￿￿S to OLK General Fur¥J. Thework ofthe Corr)oral#Jn is al a level not rM)licd by most mambers and rt is diffie￿ItfOr churehes to identfy with our ministry. The financial support of the thurches who th gwe lo our General FurKI 15 therefore P8rti¢ularly appreciated. Churthes are ccxnirvJ under increasing demands by the authorit￿5 and we believe that the CorFM)ration meets a very real need thrwgh its varied ministrigs, both practical and rinancial. I would askyou lo consmlerwhelher you could be part of our giving membership. arKI do please ontinue to pray that we will be given muth wsdom and gutsn￿ as wé seek to maintain the vorious ministries of the Corporatw)n during the c&)miTrJ year. We parti￿larlY need wiSdC￿ and guhJarKe as our rAJrrent E¥eoJtiv•. Mr Eric Cousins, is to retire in 2024 as the Direc#￿3 progress the pr(￿eSS of apFointing a 5uc£essor. Kèvin I￿￿h1r8

GRACE BAPTIST TRUST CORPORATION REPORT OF THE BOARD OF DIRECTORS FOR THE YEAR ENDED 31 OECEMBER 2023 The members of the Board of Directors submit their annual report and accounts for the year ended 31 December 2023 to be presented to the rnembers al the forthwming Annual General Meeting. The accoLtnts set out on pages 12 to 34 have been prepared in accordance with the historic cost convenb.on as modified by the revaluation of investments. and are in acLordance with the requirements of the Corporats'on's Articles of Association (dated 29th April 20231. the Companies Act 2006, the Charitres Act 2011. the Statement of Recommended Practice "Accounting and Reporting by Charities"120191, and the Financial Reporting Standard "FRS 102" The accounts have been p￿pared on a going concern basis as there is sufficient demand for the services provided by the Corporation and sufficient resources to provide those SerVi￿s. The Directors considei that there are no material uncertainties in this regard. The accounts are subject to audit. The accounts of the Grace Baptist Trust Corporation Common Investrrtenl Fund are sel out on pages 35 to 45 and are subject to audit. The accounts on pages 12 to 34 do not indude the trust funds of which the Corporation is a Trustee. CONSTITUTION The Grace Baptist Trust Corporation is registered in England as a Company limited by guarantee and not having a share capitsl IRegistrab"on Number 592488}. The Corporation is also registered as a Charity (Regislralion Number 2516751, and is recognised as a Trust Corporation under section 311) of the Law of Property (Amendmenll Act 1926. The Corporation is govemed by its Articles of Association. BOARD OF DIRECTORS The requirements of the Corporation's Articles of Association are that the Board of Directors must consist of three Officers Chaimian. Deputy chaI￿an, and Treasurer, and up to 20 other Directors. The Officers are appointed by the Board of Directors at the first Board Meeting following the Annual General Meeting. The Directors are elected at each Annual General meeb.ng from among the Ordinary Mernbers and the Delegate Members of the Corporation. Membe¥s of churches thal adhere to the Corporation's doctrinal basis may apply to become Ordinary Members on payment of the annual subscriptson Every church that adheres lo the Corporation's doctrinal basis and makes an annual donation is entiued lo nominate Delegate Members and is enb'lled to nominale a male member lo be included in the list of persons lo be submitted lo the meeting for election as a Director. As a member of the Corporation, each Director is liable to contribute £5 to the assets of the Corporation in the event of ils being wound up. The Board of Directors on 4 Mafch 2024 (the date on which the Annual Report and Accounts were approved) comprised the following". Mr J N Broome Bsc IHons} MRICS MrA R Copeman FRICS Mr M T Gray MA IHons} CeFA Mr A 8 Keen LLB- Died 4 February 2024 Mr D M Noller IEng AMIStruclE Mr R E Powell ACII (Deputy Chairman} Pastor P D Relf FCA (Treasurerl MrJ H Sayers Bsc IHons} MCIAT- Appointed 5June 2023 MT K C W Willshire ACSI FPCS MIOD Cert PFS PFA (Chairman) Unless othemise slated. each Director served in thal capacity throughout the year ended 31 December 2023. The Corporation has a Trnslees. Indemnrty Policy in the Sum of £3.000,000 for whith a premium of £1,45012022. £1,400) was paid.

GRACE BAPTIST TRUST CORPORATION REPORT OF THE BOARD OF DIRECTORS FOR THE YEAR ENDED 31 DECEMBER 2023 ORGANISATION As a Company. limrted by guarantee, is managed by th8 Bo¥d of Direc#ors. As the CorporalhJn is also a Regist￿ed Chartty. the Directors mar¢4e its afFairs as Charity Trustees. The D1￿CtOrS are also referred lo as the c￿ncil ot manag￿ent. The Council of Management meets four tThnes a year and has overall responsibilty for the govemance of the Corporation. 11 is partiujlarly responsible for (Jealing with matters involving FX)licy. Routine matters that require Board approval may be deatt wrth by the Exeujtive Committee which nomially consists of the Chairman, Dewty Chairm￿, Treasurer and other Directors. The Executive Committee may also deal with matters fern￿ed lo il by the Council of Management. In addition, the Executive Committee may considgr matters of poliry, but only ￿ the context of making recommendati￿$ to the Council of Manawent. The ExeoJtive Committefj meets up to fNe limes a year. The orricers IChairm8n, Deputy Chawman. and Treasurer) consider matters that are particularly confidential prior to their being reFQrted lo the Courril of Managem8nl and they are able to advise the Chief Executive in situations where there is s¢Jne Un￿rtaInty as to the correct application of matters of policy. In addition, certain matters are r￿rtted to the Officers ts consideration where il is thought that they should be discussed by a ccynmittee that IS smaller than the Ex&(xrtNe Committee. The Chief Executive attends all Offtcers, meetings. The offiws meet as r￿￿Sary. The Chief Executive, {Mr Eric Cousin5 FCCAI, Is fesFonsible for implementing the wlicias and resolutions of the Directors arKI for attending to all rc¥Jtine matters that clo not involve the Council of Management las a bcyjy of Trustees or Board of Directors). He hag served in that capacity since 1st January 2CKJO and o)nlinu&J lo serve at the dale this rep￿t was aFproved by the Council of Management. However, he is expetted lo retire within the f(rthcc¥ning yeaf. TRUSTEES. INDUCTION AND TRAINING indicated above, the Trustees are eed at each knrKJal Gerwal Me8ting from among the Ordinary Members and the Delegate Members of the Corporation. Memters of churches that adhere to the Corporation's doctrinal basis may apply to become Ordirklry Members on payment of the annual subscription. Every church that adheres to the CotForalion's dothinal basis and makes an annual donation to the Corporation is entitled to n(￿inate Delegate Members and is entitled to nominate a mal8 member to be induded in the list of persons to be submitted to the meeting for election as a Trustee. As rt is important tr￿1 only persons having the desired professi￿al expertise or comprehènsive knowlethJe of the churches are nomirkibj. the Board of Trustees works in partnership with the individual church8s regarding nominations. Once ngw Trusteès are appointed, they ar8 tsken throjgh a kyocess of inthjction by the Chi Executiva who ensures that they understand th9 legal duties and responsibilrties imposed on them as Trustees, using the Charty Commission pth1lcati￿ "CC3 - The Essential Trustee. as a guide. In addition, they are provid8d with COp￿S of the CorporatK)n's Art￿leS of Association- the key provisions of which are explained lo them, together wtth copies of the Corporati¢xt's various p)licies and copi8s of the most recent Stattrt¢yy A¢counts and Annual Report. They are also provided with a sel of the minutes of the most recent Trustees, Meeting Iwhmth include a reference to all outstanding issues) and the Chief Executive ensures that Ihey are fvlly briefed all ong)ing mattfjrs. The Trustees require the Chief Execuiive to keop them abreast of all developm&$ that hav8 bearing on their role as Tnjslees by proVN￿Ing them with relevant infom)ation such as articles from charity magazines and briefng notes supplied by relevant trf)dies - such as th8 Charity Commission. The Corporalwjn subsc¥ibes lo'Govemance' magazine. and copEs are made available to the OffI￿rS. Furthe￿￿e, as they ex￿e1$8 Ih8ir responsibiif(ies on the Board, the Truslees draw upon their extensive profeSsi￿al kr)owWge and experien￿ - which is enhanced by their attendan￿ al relevant training cwrses that fomi wt of their ccrtinung wofessKJnal develoFJnent.

GRACE BAPTIST TRUST CORPORATION REPORT OF ThE BOARD OF DIRECTORS FOR ThE YEAR ENDED 31 DECEMBER 2023 STATEMENT OF DIRECTORS. RESPONSIBILITIES The Directors are responsible for preparing the Anrmjal Rewt and Financial Statements in accx)rdanca with applicable law and United Kj'ngdom Generalty Accepted Accounting Practice (UK GMPI. Company law requires the Directors lo prepare accI￿ntS for each financial year which give a true and fair view of the slate of affairs of the CorporatKsn of the surplus or def￿rt of the CorForation for that P8riod. In preparing tho acwunts the DireCt￿S are required to." SelerA suilable ￿e(x￿lIng Folraes and th8n them consistenlty. Make judgements and estimates that aro feasonable and prudent. State whether applicable a￿UntIng standards have bw followed. subject lo any material departures disclosed and explained in the accounts. Prepare the accounts on a going-conwn basis unless rt is Inap[￿Pri& to Fxesumg that the Corporation will continue in owation. The Directors are responsible for keepng proper accounliThJ records whid) disciose with reasonable accuracy at any lime the financial position of the CorpLYalion and which enable them to ensure that the accounts comply wtth the CoMpan￿S Act 2LTh. They e also responsible for safeguarding the assets of the Corporation and fcf takry re&KThbl8 Steps fc the Wevent￿n and detection of fraud and other irregularities. So far as each Dwtor is ￿are, there is no relevant audr( inforynation (needed by the Corporation's auditors in eonnectiw with p￿pari￿J their report) of which the aLKlitor is unaware. Each Director has taken all thè steps that he ought to have taken as a Direttor in order lo make himsetf aware of any relevant audit irrformation. and lo establish that th8 COrp￿all0n,S auditors are aware of that infomiatBJn. OBJECTIVE The thief objective undedying all the activities of the cry)ratIL￿ is the advancement of the Christian religion. particularfy by means of in accudarKe with the ￿napleS of Parti(JJlar Baptist Churches practising Strict Communion. AIMS The Corporali)n aims to accc¥nplish this obj&twe by providing chLrch offiws with th8 reg)urces thgy need so that they are able lo attend to the administrative, financi81, legal, and ￿aCtICal aspects of church lrfe, in gèneral, and lo comply with their skitulory obligations, in particular. The Directors believe that these services are of ¢onsNJer&le assistan to c￿[Ch off￿r$ that this, in tum, furthers the Corporation's legal objective as thurthos are ablè lo conctrntrate on their main task of 8dvancing thè Christian religion. ￿lIst other simikr thwrtable organisations exist wrthin the Grace Baptist family of churches, the Board of Direcors c4Msider that the Corporation is in a unique posrtion lo offer the level of professional SUPFQrt that we are ab￿ to. owing to hvJh lev&1 of Ixofessional expertise represented on the Board. STRATEGY The nature ol the corr￿tion,5 ministry is suth that its obJ'ectNès and th& strategies il employs to achieve those objectives do not charKJe signtFicanlly from year to year. Since the C¢Nporalion is 'Trust Corporalicn., one of its fundamental ministries is to act as a Trustee of thurch woperty and various Tfust Funds established under Charity Commission schemes, trust deeds, wills and other instruments. Th& Directors, aspiration is lo provide the thjrchgs and Ih8ir members wrth the services. advice and general assIstar￿ that they require and to fu￿11 all ol the Corporation's re5wnsibililies as Tnjslees of various thapels and Trust Funds as C￿lprOhenSIVefy and efficiently as ptsssible. The strategy adopted to achEve this has been the dissemination of infomialion through a website and through the production of fact sheets, and other means as appropriate. lo respond to the variou$ needs of the churches as they have arisen and to provide routine wvices as a matter of course. The Directors have endeavoured to infcffii all pK)tgnlial b8nefiaaries of the services available lo them through th8 website and other lrteratlre. all￿$. and advértising. as appYopriat8.

GRACE BAPTIST TRUST CORPORATION REPORT OF ThE BOARD OF DIRECTORS FOR THE YEAR ENDED 31 DECEMBER 2023 ACTIVITIES AND ACHIEVEMENTS The nature of the ministy of the Grace B4)tist Trust Cofporalion makes it drfFicult lo quantfy the sU￿$S that has been athieved duriro year and to compare that aganst t￿ rtjjective sel - especially since each churth served by tr CorFK)ration is thalty independent and not under the legal or spiritual jurisdiction of the Directors. The obj'ective sel is lo rxovwje thurch offit£rs with all the assistance they need lo their churche5 effectively and the DIrect￿S consider that this has been done. Speerfically, the cOrp￿￿10n has bgen able to supkNxt ￿ work of churches and their members in the following ways.. Advisory Servi￿$.. The Corporation's thiwy services ￿m￿priSe th8 largest sirole aspect of the ministry of the Corporation in lems of ￿UrS worked and lake the form crf a help desk where staff are able to provide answers to specrfic queries churches may have. A ￿nsiderable number of telephone calls. emai15, or queries submitt&J through Ihg website were addreswj d￿n9 the year. As such queries relate to church's specrfie srtuation tt is inapFKoprkate lo provide furthw details. In addition facl sheets are published lo alert church officers to the requirements of CLffrent legislatw and gO￿j practic8. The cost of providing these $8rvic8s amounted to £116.515 12022." £103,159). ￿ number of letters of appreciation rÈceived frcyn chwch ofFJcers demonstrate muth t￿ servi¢os are valu￿. Benevolent Paym8nts". The C(iffjoralicfi administh a small n￿nb￿ of Benevofenl Funds which exist to provide financial ssislance to people in need. particuLgdy serving or relred pastors of Strict Baptist Churthes or the membèrs of such thurthes. Grants lotalling £4,1CKI were given lo Iwo Ixnefictaries during the course of the year 12022.. £7,6CQ given to tsvo). Letters received the benef￿aries highlight the signlficance of these grants to the level of thew househjld income. Chapel Proiecls.. The Corporation makgs grants to churches Icmards the cost of pL￿tha5￿7g, constructing ￿ m81ntainirvJ propertl8s. During the year, ￿ grants were awarded {2022.. £1.W.8161. SLth grants enable the projects to be undertaken where rt miLthI othe￿ise not be possible. Educational Sup￿1.. The Corporalion administers 8 Small Endmnent Furnj, the B A Wart)urton Memorial Fund. which exists lo provide financial S¢JPFK>rt for male members of Strict Baptist Churches who plan lo enter the Minislry. The assistance given by the Ccvpcrtion takes the fomi of grarts that are given towards the cost of coursa fees or the purchase of bcd(s. No grants were paKI durirKJ th8 year12022. £01. Grft Schem9: The Corporation's Gfft ￿"¢j Stheme comprises th& largest sirKJle aspect of the ministry of the Corporation in terms of financial lumover and repre￿IS the funds that ar& given lo the Corporation to support the ministy of specrfic churches and other (ryanisatKJns that further the aims and objectives of the Corporation. During the year, £276,￿￿ was re¢eived12022'. £267,3￿)}. The sum of £271405 was disbursed12022'. £261,727) with costs being incurred of £16,64512022". £14,737) resulting in total expenditure amounting to £288,050 12022.. f276,4641. Churches benefrtting are able to extend their ministries ￿Y1)nd the level they woukl U￿rWiSe ￿ Capab￿ of ￿levIng. Ministry Support.. The Corporation administer5 I￿aIn funds that are either designated by the Directors to assist churches in general, or are restricted by the donors for th8 SUPPOrt of Speur￿ churches in particular. During the year, the sum of £135,204 was spent on these activities 12022.. £124,263). Churches benefitting are ab￿ lo extend their ministries beyond the 18vo1 they would othwise be capable of hieving. Professional Services.. The Corporation acts as a Trust of churd) propety and various Trust Funds estsblished under Chanty Commission schemes, trust deeds, wills and other instruments and pYovid6S Other professional services to churches or other organisations wrthin the Grace Baptist family of churches, as the need arises. As a TnjSt￿ of Charitab￿ land and woperty. the CorWrat￿)n has teen able to give extensive advi(x) lo thurches regarding th8 larKJ and tHJildings for which they are resFonsiblg as w811 as legal advice relating to compliar￿e with Ihgir chapel Irusl deeds. Additionally. the Ctyporation produces the Grace Directory of Chwches. The C£JSI of providing these services amcmjnled to £34,809 12022.. £30,958 allhcwgh the sum of £36,943 was re￿ived in resFect of chargeable servi￿S(2022.. £9,551). Further details aro giv8n in 8.

GRACE BAPTIST TRUST CORPORATION REPORT OF THE BOARD OF DIRECTORS FOR TrIE YEAR ENDED 31 DECEMBER 2023 ASSOCIATED CHARITIES Although not 'associale(r as dori￿d by FRS 102, the CorpNion works closely with a number of charitable organisations with similar objectiV8s. In partKular, the cOrwat￿ enjoys cordk81 relations with the variou$ Associations of Grac£ Baptist Churches and with the Grace Baptist Partnership. The Chief Executive is a Trustee and the Treasurer of the ParticJJlar Baptist Fund and a Trustee of Baptist Building CIO. ￿lIst there is no formal link be￿n the CcYpor81ion and It￿Se charities the involvement of the Chief Exerjjtive enables hin to [we￿t the interests of Grace 88Ptisl Churchas. GRANT MAKING POLICY Grants are made to churthes indwthals under Ihe tefms ofthe various fijnds adminisl&red by the Corpor8tK•n. In the case of the Pastors, Fund. the Benevolent Fund the Ministers, Aid Fund. grants a￿ made dwectly lo indFviduals to rel￿ve financial hardship. In the case of the B A Warburton Memofkql Fund, grants are made directly lo irMINMluals who are preparing for the Ministry lo assist them with the costs of their trainiro. In the case of institutional grants, the grants are made lo churches or Christian Missions to assist with the costs of ctr￿reh planting. building work and maintenance projects. The Directors consider th trainirvJ men for the Ministy and assisting churches lo plant further churthes and assisting them with their building and maintenance projeds will help them lo fuifil their ministries. This will lead lo the advancement of the Christian Rel￿￿n, whK itself Is the legal obj'ective of the CorF()raticw). FINANCIAL REVIEW During the year, income (which included the sum of £509,844 arising from Ihe sale of hvo redl￿danI chapels) amounted lo £980.191 compared wtih the inccyne for 2022 of £7￿,831 {which included the sum of £390,504 from the sale of one redundant chaFel). The proceeds of the salh￿se Chapel {£213,7591 were credited to the SupFKsrt Fund las permitted by the chapel's Tfust Deed) and the proceeds of the Grundisburgh Chapl 1£296,Ce51 were allocated as reslricled funds to be disbursed over future years in accordan￿ with the wk8hes of the final churth M￿berS las directed by that chapel's Tru Deed). Expenditure in the previous year In￿￿ed the yjm of £1,541,154 which was spent a(x4uiring two residential [ropert￿5 to serve as living accommodali)n for the pastor and yOLrth pastor of Grace Church Brighton {i•thich properties ¥e held for the ￿nefit of that church under separate Trust Deeds) and r(yJtine exrndrture of £570,1C6. The CO￿esP￿dIng leval of expenditure in 2023 amounted to £578,678. The nel resutt the year lafter allowing for the investh)8nl performanc¥ - S8e next paraJraKI)) was 8 surplus of £6(r2.310 (2022.. Deficit £2.113.194). Following the outbreak of war Ni Uknaine arKI the ranifrtsions of the aconomic and political un¢ertaintrès in the UK during 2022, the CO¥porati￿'S investments have begun to recover and the income y￿Id achieved on the CorpC￿atlon's portfolto of investments was 3.43% against a target of 2.25%, and the total retum achieved was 9.86% against the ￿nehrnark of 8.59%. A surplus on the value of investments was achieved durirvJ the year arn￿lting lo £2￿,797 compar&1 with 8 deficit of £792,765 in the previous year. Principal funding sources have been ¢$Jnatiorts from supkKrting churtt￿ and personal members aThJ interest and dividends arisirKJ the Corporation's investments. A signrficanl proportion of the Corporation's ineome and expenditure reL41es to the Gtft Aid Scheme under whith donors choose lo support the ministy of particular thurches or other charitable activities th are in furtherance of the aims and objectives of the Ccwlration. During the ye income amounted to £276,205 12022.. £267,390) and disbursements to £271.40512022 £261,727). The Corporation does not (ommrt itself to supportirKJ projecis beyond limits of funds that a available, and therefore the Directors that the assets in each of Ihe funds are sufficient to enable the CorFwalion lo meet its obligatKsns Ur￿er I￿se funds as they fall due. The financial position as at 31 December 2023 was ¢J)nsthred Sat￿￿￿0ry for thg wrpjses of the Continuing wort( of the Corporatk)n. FUTURE DEVELOPMENTS Thè Corporation is currently investigating provKJing supF¥xt for a thurch planting project in Exeter continues to support the church plant in Brighlon alk￿aling £90,CtK) in 2023 (compared with £110,000 in 20221. It is the Intent￿ of ts Dir8Ctors that SUPFJt for that Foject will reduce year by year as the church beC￿neS established. Inlemally, ¢yJr Ch￿f Exe(JJtive - Mr Eric c￿sInS - 1$ expe(led to ret￿e dumg the cwrse of the next year and the Directors are CWrent￿ n the wtxess of appO￿tIng a successor.

GRACE BAPTIST TRUST CORPORATION REPORT OF ThE BOARD OF DIRECTORS FOR THE YEAR ENDED 31 DECEMBER 2023 INVESTMENTS The Corporation's Articles of As50ciatI￿ authcvise th8 Direct￿S to invest fund$ not immediately required for its purp0885 in suth investments as may for the time beiw bg prescribed by law, All suth funds are invested in the Gra￿ Baptist Trust CorpNaticn Common Inveslment Fund, which is manag&J by Fund M8n4ers, Quilter Cheviol Limtied lo athieve a realistic InC￿ne yield coupled with lory-t8rm caprtal growth as an irfatiOn￿ l￿dge rx)nsistent wth a target asset allocaticfi of interest $t(th, gills and corporate bonds 25%. equities and slructur&J investments 60%. and allemalives 15% with a permrtted 5% point variation. Investment perf￿￿ee is govend by the Trustees, acceptance of a mcKJerale level of risk aTrJ their adopt￿ of an ethical stance that avoids investment in companie5 directly con1￿￿ed wtth alcthol, gambling, F￿n￿aphy, tobaccD, and genetic modrficalion, credit institutions that appty extortionate and exorbitant rending principles, and cclnpanies where little respect is shown for the sanctty of lrfe. rights, aTrJ the natural envronment. In ￿SenCe of suitabl8 standard benthmark Ihal equates to the requirements of tho C￿poratin. the Trustees a￿1 Fund Managers have fonnulated a speaalisl ￿chmak against whid) the perfomiance of th8 fund is lo be monitored. During the year, the income yield achiev8d on tho Cwalion's portrolio of investments w8s 3.43% against a target of 2.25%, and the total retLm athieved was 9.￿% against the benchmark of 8.59%. Your attention is drawn to the f￿￿la1 review. TRUST FUNDS The Corporation acts as a Trustee of small thariti&s aTrJ tharItab￿ funds undw the temis of Charty Commission sthemes, trust deeds, wlls or other instruments. Th9 objects of thèse tnJ$ts fall within the thief objective of the C(wfyration aThJ f￿her details are given on pages 47 to 49. The Receipts and Payments Account M page 47 is a consolidated summary of the accounts of the charitable trusts that are listed on pages 48 and 49. Separate accounts are maintained for each of the trusts and relums are made to ts Chartty comm￿10n whwe appropriate. Th& Corporation administers the funds of the trusts by investing the capital in the Grace Baptist TnJ$l Corporalb Common Investment Fund. The fvnds ol the tnjsts are kept apart from th)se of Ihg Corporation by moans of separato accounlirKJ records. b￿k actounts. arKI investments. Investment in the Common Investment FurJ is on a unitised basis. FUNDRAISING The CorpOrat￿n does not efyage in fun(trai$ng ac#wities. RISK ASSESSMENT The Directors revthv the risks to which Ihe COrporat￿)n is exposed on an annual basis and they confirm that systems are in place to manage the risks that have been identified. The Pri￿1PaI risks knng tho cOrprt￿ are.. The lack of volunw donatws to fThnce Ihe Corwration's opar*ing cnsts. Owing lo Ihe professional nabjre of the services provid•J to the churthes most thwch members find it drfFi¢ull lo identrfy the benefrts that are provided and are therefore nol inclined lo support the work. A reasonable level of rèserves is maintained to mrtigate this risk. A lad( of comprehensive inlemal (r)ntrol systems owing lo there being onty iwo members of staff in the t)ffice. All the finanual controls that would be expected 8re in pla￿, and a member of the Board OF Directors, who is a Chartefed AccountsnL vistts office lo insFect the financial records on a regular basis These o￿trol$ are review￿ annualty. The loss of the Chief Executwe. The risk has been mttpjaled by the apwintm&tt of 8 Personal Assistant to W¢Jfk closely wtth him, and, wher8 n￿Ssary, by the provision of private health care to facilitsle the wovision of pyompt treatment in th8 event ¢)f a debilitating illness. This is normally a￿anged by means of private medKAI insurance. The total bss of the Offi￿ ar¥J office r8cords through a major disaster. I￿119t the probability of this risk is minimal, its effect would be very severe. This risk has been mf(igal&d by th¢ fomiulatKrt of a disaster recovwy plan. whid) is reviewed annualty.

GRACE BAPTIST TRiIST CORPORATION REPORT OF THE BOARD OF DIRECTORS FOR ThE YEAR ENDED 31 DECEMBER 2023 RESERVES POLICY The total fiJnds held by th8 Ciyporatrm * year-end amcxjnted lo £5,021,597 of which £224,056 represented En(S)wmenl FurvJs an¢J £578.367 whith represented Restricted Funds which may only be spent in 8ccordan¢e wtth the wish88 of th8 dcrnrs. Your attentKn is dra￿ to notss 19 and 26.3. Designated Funds comprise unrestncted fLYkls received by thg Corpor8tK)n following the disposal of rgdundant thapels. are thr sut￿￿a&s1[iCatKjnS wrthin Designated Funds. The Support Fund has been sel aside by the direciors in iyder to provide Supp￿ lo churthes that are undertak￿9 signrficant mainlenancE wojeets and to supp)rt the ministy of the Corporation, as necessary. This stood at £2,046,705 al the year-end ar)d Ihis is not c￿SIdered lo be excessive in view of the possibilities that could arise ￿ utilising these fijnds in the future. The Vision and Venture Fund Iprimarity designated for thurth planting projects) amountgd lo £1,734,869 and will be utili$8d as opportunities arise. By their nature th8se will be terni projects as st may take between five and ten years for a new church lo become fully sell-supportirvJ. The In￿dental Projects Fund (used lo suppc¥t miscellaneous projects as tsy ￿Se) stood at £148.814. As slated in note 26.1 it is the desire of the directors that th& costs of njnning CorForation will b8 met out of membership subscriptions, voluntary donations, yofessional services and investment income arising from General FuThJ reserves. The income arising from these sources is volatile and currently falls signtficantly short of the sum required. Eff￿S are being made lo inerease the level of income bul at present th8 directors wnsKJer that a level of reserves musl be maintsined that is sufficient lo cover such deft¢its in order to sustain the work, rK)l only in the irftmediate future bul also for sev&ral years ahead. The Directors review the Situati(￿ on an ￿r¥￿al basis aThJ al the last review. condu¢Xed in Decembgr 2023, considered that the remaining free reserves. whth amounted to £288,786 81 the yearend, must be maintained at their CLwrent level. They consider Ihat, ￿ the event of a stjdden and substantial fall in th& Corporation's income, the sum of arvoximalety £3CKI,C(MJ is required lo cover tsvo years. expenditure to enable all projects in hand to be uxnpleled, 10 8nable ￿ cons￿erab￿ number of trusteeships of properties and Trust FurKIs t)Jrrenlly held by the Ccyporation lo be transferred to another Trust Corporation, and to enable alternative a￿angeMentS to be PLrt in place for the continuance of the wide range of 5UPP)rt ministries rJJrrently be￿ig Undertak￿ by the Corporation. SIGNIFICANT CHANGES IN FIXED ASSETS There were Th) signrficanl d)anges In fixed assets during the year. PUBLIC BENEFIT The Directors have ￿nsidered the guidanc2 published by th& Charity CommisSic￿ on th8 provision of public benèfit. They confjrm that th8 thief obj8Ctive of the CorFrf)ration is the advancement of the Christian religion (which is a tharilable p￿F￿se undef law) and that the Corporation provides public benefit by offering wofessional and trustee Servi￿S- including the provtsion of advi￿ and infomiat¥)n free of charge to P8rtioJlar Baptist Churches practising Strict Communion. Grants and loans are also made available to such thurchgs. Addriionally. grwrts are paid from various Endowment Funds lo the members of ttrKJse churches where tw qualrfy under Ihe terms of the trusts of tre fuTrJs. REMUNERATION POLICY 11 is the policy of the Directors lo remunerate staff at a level whith recconises the Biblical principle that the labour8r is worthy of his hir9. ￿ere rt IS appropriate to do so, thfr Board dglemines the lev81 of salaries by referen￿ to the 'going rate for th8 job.. lhhefe there is rm) meaningfvl comparison - and specrfically $0 far as the Ch¢ef Execulive is concemed - Board Members are guided by r&ferents lo the salary that an empk)ye9 might command in the open market. Alongside thi5, and in both cases. due ￿nsideratIon is gFven lo the level of stipends that thurches served by the Corpmtion are able to pay and thè financial r¢S￿ree$ that are available wrthin the Corwration. Salarigs are reviewe(J on an annual basis, either at an Officers, Meeting or by the Executive Committee and a recommendation is submitted lo the Board of Dwe¢tors for ￿￿S￿rat￿]n at their meetirwJ in December.

GRACE BAPTIST TRUST CORPORATION REPORT OF THE BOARD OF DIRECTORS FOR THE YEAR ENDED 31 DECEMBER 2023 PROFESSIONAL ADVISORS: AUDITORS Brewer5 Chartered Accountants Boume House Queen Street Gomshall SU￿eY GU5 9LY INSURANCE BROKERS Marsh CommtrGial Rourke House Walermans Business Park The Causeway Staines-Upon-Thames Middlesex TW18 3BA BANKERS National Westminster Bank plc 39 Station Road Redhill Surrey RH11QN Access Insurance Service 212-220 Addinglon Road South Croydon SU￿eY CR2 8LD COIF Charit￿S Deposrt Fund 1 Angel Lan8 London EC4R 3AB SOLICITORS Wellers Law Grwp 65 Leadenhall Street London EC3A 2AD INVESTMENT MANAGERS QUi￿er Cheviol Limited 3 Tempte Quay Temple Way Bristol BS16DZ REGISTERED OFFICE AND PRINCIPAL OFFICE 19 Croydon Road, Calerhan, Surrey. CR3 6PA This report has been prepared in accordan￿ with the spea.al provisions of Part 15 of the Companies Act 20CE relating lo small companies, *KI was approvgj by Board of Directors on 4 March 2024. By order of the Board K C Wwltshire Chaim)an

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GRACE BAPTIST TRUST CORPORATION Opinlon We have audited the financial statements of Grace Baptist Trust Corporation Ithe'charitable company'i for the year ended 31 December 2023 which comprise the slalemenl of financial activities, summary income and expenditure account. the balance sheet and eashflow statement and notes lo the financial slaletnents, including a Su￿rnary of significant accounting policies. The financial reporting framework that has been applied in their preparation Is applicable law and United Kingdom Accounb'ng Stsndards, including Financial Repo￿.ng Standard 102 The Financial Reporting Standard appI￿able in the UK and Republic of Ireland (United Kingdom Generally Accepted Aecountsng Practice). In our opinion, the financial statements.. give a true and fair view of the stale of the charitable company's affairs as al 31 De￿mber 2023 and of its incoming resources and application of resources, including ils income and expenditu￿, for the year then ended". have been property prepared in accordan￿ with United Kingdom Generally Accepted Accountsng Practice., and have been prepared in accordance wtth the requirements of the Companies Act 2006. Basis for oplnion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial stslemenls section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit ol the financial slalements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordanee with these requirements. We believe that the audit evidence we have obtained is sufficient 2nd appropriate to provide a basis for our opinion_ Conclusions relating to going concern In auditing the financial statements. we have Concluded that the Iruslees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating lo events or conditions that. individually or collectivety, may cast significant doubl on the entity's ability lo continue as a going concern for a period of at least tsvelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going ¢oncem are described in the relevant sections of this report. Other infomiation The other information comprises the infomialion included in the annual report other than the financial slalemenls and our audilorfs report thereon. The trustees are responsible for the other infomialion contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion Ihereon Our responsibility is lo read the other infomalion and. in doing so, consider whether the other information is materially inconsislenl with the financial slalemenls or our knowledge obtsined in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a maler5al misslatemenl in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other infomalion, we are required to report that fact. We have nothing lo report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the inlormalion given in the trustees. report. which includes the directors, report, prepared for company law purposes, for the financial year for which the ffnancial statements are prepared is consistent with the financial stalemenls". and the directors, report included within the Iruslees, report has been prepared in accordance with applicable legal requirements. Matters on which we are requlred to report by exception In the light of the knowledge and understanding of the ¢harilable company and its environment obtained in the course of the audit, we have not identified maleftal misstalemenls in the ITUStees' report. 10

We have nothing to report in respect of the following matters In relaaon to which the Companies Act 2006 requiies us lo ￿port lo you if. in our opinion: adequate accwnling records have not been kepL or retums adequate for our audit have not been received from branches not visited by us.. or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees. remunerab.on specified by law are not made., or we have not received all the information and explanations we require for our audit,. or the trustees were not entitled lo prepare the financial statements in accordance with the small companies. regime and take advantage of the small companies. exemptions in preparing the trustees report and from the requirement to prepare a strategic reporL Responsibilities of trustees As explained more fully in the trustees, responsibilthes statement set out on page 4 the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being salisfied that they give a true and fair view, and for such internal control a% the Injslees detemiine is necessary lo enable the p￿paratIOn of financial statements that a￿ free from material misstatement. whether dije lo fraud or error In preparing the financial ststements. the trustees are responsible for assessing Ihe charitsble company's ability lo continue as a going concem. disclosing, as applicable, rnatters related to going concern and using the going concem basisof accounting unless the trustees either intend to liquidate the charitable company or lo cease operations, or have no realistic altemative but lo do so. Audltorfs responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial slalements as a whole are rree from material misstslemenl, whether due to fraud orerror. and lo issue an audilorfs report thai includes our opinion. Reasonable assuran￿ is a high level of assuran￿. bul is fiot a guarantee that an audit conducted in accordance with ISAS {UlQ will a￿ayS delect a material misstatement when it exists. Misslalements can arise from fraud or e￿Or and are considered material if, individually or in the aggregate, they could reasonably be expected to inftuence the economic decisions of users taken on the basis of these financial statements. Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, to delecl material misstatements in respect of irregularities. including fraud. The extent to which our prO￿ureS are capable of detecting irregularities, including fraud is detailed below-. Through communicatron with the client Through consideration of material elements of the accounts which could potentially give rise to misstslernents Through understanding the legal framewotk in which Ihe client operates Through examination of the charitable company's, policies and procedures A further description of our responsibilities for the audit of the ffinanck41 statements is located on the Financial Reporting Council's website at.. h $..lA￿.fr¢.0r .uklauditorsres forms part of our audito¢s report. onsibilities. This description Use of our report This report is made solety to the charitable company's members. as a body. in accofdance with Chapter 3 of Part 16 ofthe Companies Act 20¢%. Our audit woth has been undertaken so that we might state lo the charitable company's members those matters we are requiied lo stale lo them in an audilorfs report and for no other anyone oth urpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to work, for th. than the charitable company and the charitable company's members as a body, for our audit eport, or for the opinions we have fomied. Andrew Skilton ACA (Senior Stslutory Audilorl For and on behalf of Brewers Chartered Accountants, Siatulory Auditor Boume House Queen Street Gomshall Surrey GU5 9LY Date.. 11

GRACE BAPTIST TRUST CORPORATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 unr•strI¢t￿ Unrpstheted Resth¢ted Endowm•nt Tot Fuftds Funds Funds Gen•r41 Funds Funds 2023 Total Fund$ 2022 Income and Endowmènts fyom: Donal1￿$ and L￿acleS 7.615 876 8,491 15,593 Charitsble Athitses 31.297 276.205 313.148 276,941 Inv•3lment$ 34.831 25.614 148,708 107,793 Other 213.759 2S6.085 509.844 3￿,504 Total EX￿nditUrn on: Charitabte Aclivrfies 166.450 91.519 320.709 578,678 2.111.260 Total 578678 2 111 {Loss•sl l Galn8 on Inv•sbnents 15.273 173.772 11,752 21KJ,797 1792,7651 Nét Incomè l {Exp•nditur•) (77.434) 389.921 278.071 11.752 602.3fO 12.113,194) Trnn8f•rs betwe•n Funds 19 105.529 {100.CKQI (5.529) Not Movwnont in Funds 28,095 289.921 272.542 11.752 602.310 12,113.1941 Reconeiliatlon of Funds: Total Funds bmght foN48rd 8$ at 1 January 2023 260.691 3,640.467 305.825 212,304 4,419.287 6.532,481 Total Funds carried forward as 4t 31 Déc•mb•r 2023 19 2240￿ S 1597 4419287 Your attention 1$ to ncrte 31 shoMng ccfflp8rative figures for the pr•viws year 12

GRACE BAPTIST TRUST CORPORATION SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Total Incc¥ne 980,191 790,831 Totsl Expondrturè 578 678 21112PA) 401,513 (1,320,429) Surplusl{Deficitl on Dwos81 of IrNestments SurplusllDeficitl on Ordinary A￿1v￿e$ Nel SurplusllDefi¢rtl for the Ye¥ 20 401.513 {1,449,6771 1449 677 The Summwy Income arKI ExpenditLKe AC(￿nt is derived from the Statement of Financkql Activili8s on page 12 which. together with the notes lo the actounls on pages 16 to 34, provide full Informal￿n on the movements dwing the year on all the fvjnds of 13

GRACE BAPTIST TRUST CORPORATION BALANCE SHEET AS AT 31 DECEAIBER 2023 2023 2022 Flxed Assets: Tangibl6 Assets 21 5.267 Invèstments 3.401,272 3,200,475 Total Fixed Assets 3.4C6,$39 3,201,263 Current Assets." Debtors {falling due after one yearl Debtors (falling due within Or￿ yearl 23 23 17,5Tr) 21,000 25.088 36,707 Cash at Bank arJ in HarKI Total Current Assets 1.626,328 1,227.360 Liabllities: Creditors Ifalling dl￿ Wrthin on8 year) 24 Net Current Assets 1.615,0&9 1.218,024 Total Assets le88 Current Liabrlities 5,021.597 4,419,287 Totsl Net Assets 25 5 021 597 4419 287 The Funds of th& Charlty: Endowment Funds 224,OSS 212,304 RestrICt￿ Incon Funds 578.367 305,825 Unrestricted Funds: Designated FurKIs General Funds 3,930, 2887 3,640,467 260 691 Totsl Unrostrlcted Funds 4,219.174 3,901,158 Totsl Charity Funds 5 021 597 Thgse financial statements have been wepwgd in &x9rdan￿ wth th8 special provisions of Part 15 of the Companyès Aet relating lo small companies and the Financial Reporting Standard FRS 102. The Company is limrted by guarantee. The RegislralKJn NuM￿r of the Company is 592488. The Balan￿ Sheet arKI the Acc(MJnts on pages 12 10 34 were woved by the Board of Directors on 4 March 2024. PDRelf K C Wwllshire 14

GRACE BAPTIST TRUST CORPORATION CASH FLOW STATEMENT FOR THE YEAR ENDING 31 DECEMBER 2023 2023 2022 Net Income I (Expendi￿re} for the Yèar As per Statement of Financial Activit 602,310 {2,113,1941 Adjustments for. Depreciation (Gains) l Losses on Invesknents Dividends and Interest from Inveslments Loans made in furtherance of objects Repayment of loans made in furthe￿ts of ￿lects Ilncreas&l l Dec*ease in Debtors Increas8 I (Decrease) in Creditors 394 792,765 (107,7931 110,487) 39,5QXJ 516 764 {2(Kl,797) (148,7081 138,420) 52,407 (2,368) Cash Flow from Opernling Activities Nel Cash Provided by I (Used inl OperatiThJ ActNiti8s Cash Flow from Investing Actlvlties Dividends and Interest fr¢Jn Investsments Purchase of Investments Sale of Investments Pur¢hase of Fi¥ed Assets Net Cash Provided by l (Used in) Investry Adivr In¢rease l (Dgcrease) durfng the Year Cash and Cash Equivalents a8 at 1 January 2023 Cash and Cash Equivalents as at 31 De¢omber 2023 335016 714 131 267.294 (1,399,C63) 148,708 107,793 1284,843} 1,300,0 1 121 768 410,587 1277.2951 1,1￿.653 1.467,948 Analysis of Cash and Cash Ewlvalents Cash in Hand Notice Deposits (less than Ihree months) Total Cash and Cash Equivalents 105 1 190653 15

GRACE BAPTIST TRUST CORPORATION NOTES TO ThE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 CONSTITUTION 1.1 The Grace Baptist TTUSt Corp)ration is registered in England as a Company limited by guarantee and not having a share capital {Registration Number 592488). The Corporation is also registered as a Chanty (Registration Number 251675), and is reujgnised as a Trust Corporalijn uThJer section 3(1) of the of Propety lknienthent) Act 1926. The CorporatKJn is by rts Articles crf Asscciation. ACCOUNTING POUCIES 2.1 Accounting Standards and Convenlions These ac£4)unts have been wepared in accordance with the h￿toriC cost Conventic￿ as modrfied by the revaluation of inveslments, ar9 in £c￿da￿e with the requirements of the Corwalion'5 Art￿leS of AsKuion Idat&Y 29th April 2023), the Companies Act 20C the Charities Act 2011. the Statement of Recommended Practio 'Accounting and Reporting by Chartties" 12019), the Fnancial Reporting Standard 'FRS 102". The accounts have been prepared on a 9)ing ¢)xthm basis as there is sufficient demand for the services provided by the Corp)ratKJn and sufficient resources to provide Ih)se serv#%s. The DireCt￿S consider that there are no material un￿rtatntieS in this regard. 2.2 Public Benefft Entty The Corporati)n is a public be￿frt entty as defingd urthr FRS 102. 13 Income Income is defined as the irfow of eo)rN)mic banefrts arising the activities undertaken by the c￿lon and is a¢xounted for (grossl on a re￿1v￿ble basis. Income is included in the Statement of Financial Activitres when the Ccyporation has acquired a right to the resoLtrce, when rt is probable that tt will be r&eived, and when its monetary value can be measured wlth SufFic￿￿t reliabilty. Donations are account￿j for Up￿ receipt as ts Corroration does nol receNe grfts that are subject lo perfomance re18ted condrtions. Membershp subscn"ption$ are in the nature of grfts and are therefce treated as donati¢)ns. Legaaes are recognised when it is wthble that the bequesl will be recèived - On￿ the executors have crjnfiryned". that the C(yporalK)n is enIrt￿ to the t￿qL￿$t., that probate has been granted,. th81 there are sufficient assets in the estate to pay the legacy., 8r)d once the amount can be d&lemiird with sufricignl relk7bilty. IAhen the amount cannot be measured wrth sufficienl relith"lty, the Iw is acc(MJnted for as a contNYJenl asset. Interest R￿1Vable from b￿k deposits and Con¢￿S1onary loans, and Drvid8nds recaived from the Gra￿ Baptist Trust C￿￿￿tIOn Common Investment Fund, ￿ recognised on a receivable basis al transadK)n value. Income frcffi Professional Servios is accounted fcf upon servic ddivery at transactKJn val￿. Income arising from assets held in a Wthlar fimd forms pt of that fund with th& except￿ of income arising from En￿wment Funds whic is treated as Restricted Income. 16

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued) 2.4 Expenditure Expendilurg is defirnd as the am(NJnt of reSOurL￿ that have been utilised on 8Ctivrties undertaken by Corporation and ￿ accxurrted for gross lincknsive of VAT which cannot be recovered) on an a(zruals basis. ExFendrture is includ&d in the Slalemènl of Financial Activities Or￿ there is a al CY constnjctive obligation to make a payment lo a third party, when it is probable that Sett￿ment will be required and the amount of the obligation can be measured with sufficient reli?bilty. Legal L)ligations arise un(ler exthange transactions that are contractual wtt￿ea$ c4JnslnJctive obligations arise under non-exchange transactions suth as grants. Uncondf(ional Grants are aecounted for as expenditure when the t)ffer of a sp8crfIc monelw amount is conveyed to the ￿4plent and it is probable that the payment will be made. Grants that are subject to cnndrtk)ns are actounted for as expenditure when the conditions f811 outside the control of th& CorFyJration and it Is more likely than not that the Payment will be made- in which case a liabilty for the full funding obligation is recognis8d. If an offer OF a grant has been m8de, tyjt payment becomes unlikely, albert still possible, th& fundiryJ commrtment is disctosed as a conbngent lthilty. 2.5 Classificallon of Income and Expendi￿re Charitable Activrties c￿priSe the income and expenditure that relates directly lo the Charitable Activities of the CIyptrion. These include the advice given to churches and their Memb￿$, the administration of ￿ grfl aid schgme, thB provision of Irusleeship services, the ajministralion of trust fijnds, ald cin professi¢Mal servi¢gs for which charge is made. Governan￿ Costs a￿ those costs asscci8ted with the general management of the Corporation as trustees ensurè cx)mpliarkce wrth ¢onstitLrtional and statutory requirements. They include the costs of preparing fcf, arKI hokling, trustees, meetirKJs, the sl of preparing slulory ar£￿nIS arKJ annual retums. and Ihg cost of the annual audit. Shared Costs are ￿$9 whtch contribLrte directly to more than one 8Cttvily, such as staff c￿SIS where members of staff ar8 involved in more than or activty. Support Costs are those ry)sts whth f8cilrtate a number cl activities and which do not change directly as a resutt of the adivty undertaken, such as Offi￿ and premises wsts. Govemance C￿$ are treated as a eatwry wrthin Support Costs. 2.6 Allocation of Costs Expenditu￿ that relates direc#￿ to one activity category is allocated in full to that a¢tivty. Expenditure that relates to a numtr rf adivty catwi@s is apportI￿d according to the approximate amount of time 5P8nt c￿ each acaivrty. as follows.. Staff Benefrts are allocated." charrtab￿ Aelivrties and Govemance Costs 10%. Fixed Olf￿ Costs are allocated.. Supm Costs gYA ar)d Governan￿ Costs 10%. Thereafter, Shared Costs Iwhith erxthtNJte to more th8n one Charrtable Activtyl and Support Costs {Nthich are not attributab￿ lo one single Charitable Activity) are apportioned according lo the app￿Ximate amount of time spent on each adivily, as follows.. Advisory Services 70%. the Grft Aid Scheme 10%. *Kt Professional se￿1¢8$ 20%. 17

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Conllnued) 2.7 Capitallsalion of Fixed Assets Fixed assets are recc>Jnised when an asset is Control￿ by the c0rpntl￿ a5 a re$uR of a past transaction and it is probable thal fvrtur8 e￿noMiC benefits will accrue from it. ExFenditure in excess of £￿￿) on the wuisrtion and inst8llalion of fixed assets is capilalised at histo￿al cost. Fix*1 Assets recaived by way of gfft are caprtalised and included in irKome al their fair value (that is. Ihe amoLml at whith they could be exchanged by willing parties in an ￿,$ lengtr trThd1￿). 2.8 Deprecialion Fixtures and Fritings. Office Equiwnent Provision for deFxecialion is made at rates cakyjlated to write off the ¢X>St of the assets, less any residual value, over their useful lives as folkhv$.' Fixtures Ftitings offi1￿ Equipment Straighl Line Melhc<l Straight Line MethcKI 10 Years 3 Years ilst it is considered that the assets of the CorporalKJn are unlikety to become impaired, any asset that is fourKJ lo have a nel took value higher th￿ rts nel r8alisable value or its value in use is ￿itten lo the higher of those values. 2.9 Gains and Losses on Tangible Fixed Assets held for the Corporation's own uso A surplus arising on the diswsal of ftxed assets is included in tke InC￿e and Expenditure Account and the Statemènt of FIn￿cIal Activttias as a realised gain on the dispos81 of fixed assets. ImpaiThnent Ioss8s or deficits arising on the disposal of fixed a$ws are inchjded in the Income and Expondriure Account aTrJ Statement of Financial Activities as an addi(ional depreciation charge. Realised gains and losses ￿SIng on ￿ dw)os81 of ftxed assets hekj in a particJJlar fund form part of that fund. The Cofporalion does not have a polw of revaluing T￿gible Fixed Assets. 2.10 Investments Fixed Asset Investments represerrt investments in the Grace Baptist Trust Corporation Common Investment Fund are included in the Balan￿ Sh88t al fair value based on the price of un¢ts. The surplus or d&ficrt arisiry on revaluation is included in the Statement of Financial Activities {under"GainslLosses Investments.). The surplus or defi￿1 arising on disposal is induded in the Incx)me and Expenditure ACCL￿nI aThJ the Statement of Finanaal A(aivrties {under"Gain&lLosses on Investmenw). Realised and unrealised gains and losses investment assets hekj in a particular fund fomi part of that fuThJ. 2.11 Pension Scheme The Corporation contributes to employees, Personal Pen$Ton Plans on a defined contribution basis. cOntri￿lon5 are recognised in the Statement of Financial Activities as they become payable and alIc￿￿ed wthin Staff Benefrts (see note 2.6). 2.12 Financlal Instruments The C(￿poratIon,S Financial Assets and Liabilrties qualfy as basic financial instruments and as such are inrtk911y recognised al cash. tr￿saCtion, or settlement value. Subsequently, Curr8nl Assets arKI Liabilities are measured at cash or settlement value and Fixed Asset Inveslmenis are measured al fair Val￿ basgd on thg price of units in the Gra￿ Baptist Trust Corwration Cc¥nmon Investment Fund. 18

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Icontlnued) 2.13 Debtors Debtors are statéd at thgir recoverable ￿0￿nt- that is, the amojnl th81 it is anticipated will be received in res[￿ of ¢￿standIng b)ans or other debts, ¢N the amount th has been Paid in adv￿Ce for gO￿J$ and seNices. Loans lo churths ( note 23} are C0￿￿￿10n8ry loans which are made to assist with the acquisrtion, renovation. or maintenar￿e of prO￿rtIeS and are offer&J al rates of interest that are signrfiwlly below the market rale (usually 'interes14ree"l. Loan repayments fall due in either 20 or 40 equal instalments over a pen.od of ten y&ars and are guaranteed by three individuals who aL* as guarantors. Lo￿S are recuJnised * the amount initially lent. with the carying amount adjusted n subs8qLEnt years lo reflect the repayments made. 2.14 Creditors Creditors are recognised when the tharty has a rKesent legal or eonstructive obligation arising from a past evenl that will prct)ably regjtt in the transfer of fiJnds to a third party and the amount due to settle the Obligat￿)n can be measwed or eslimaled with SLrfficient reliabilty. Creditors afe stated at their settlement amount - that is, the amount th81 it is anticipated will be paid to settle the corp￿l0n.S liabilities. 2.15 Cash at Bank and in Hand Cash at bank and in hand indudes deposits wrth a shcyt maturty of twelve months ￿ lass from the date of opening the depo&L 2.16 Critical Accounting JUdgeffl￿ts In the applicab.￿ of the a(x￿untIn9 policies listed above. the Directors are required to make judgements assumptions ab(Krt carying values of assets 8nd liabilities that are not readily apparent frtyn other sow¢es. Those aS￿mpti￿s, based on historical experience and other fadors conswjered to be relevant, are reviewed on an cfft-goiro basis. In the view of the Directors there are no uncertainties that are likely lo r8sutt in a material adjustment lo the Carying amounts of 8ssets arKI liabilrties in the forthcoming financial yèar. 2.17 Presentation Currency The acccxjnts are derkiminat&J in £ stertir¥J rourNJed lo the ￿arest PCAJnd. 3. ANALYSIS OF SUPPORT COSTS Advisory Services Gift Aid Sthome Professional Services 2023 2022 Governan￿ Costs offi￿ Expenses Property Expenses 19,934 11,532 5.6 3,295 28,478 16,475 23,368 15,147 Support Costs are a￿Port￿ed over th& activty ¢alggories to whth tlw relate in prowtN)n to the approximate amount of ts.me spent on each 8rAivty. as folkxvs: Advisory servI￿s Gtft Aid scr￿7e Professional Serwc8s 70% 19

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 qcontinuod) INCOME AND ENDOWMENTS Unrestricted Designated Restrict•d Endtswm•nt Totsl Funds Fund$ Funds Funds Fund• 2023 Total FLrnds 2022 Donations and Legacies Subscriptions and DonalJ"ons Legacies 7,615 876 8,491 15.593 876 Charttabl• Activits•s Gift Aid Schemè ProfessK)nal Services 276.205 276.205 267,3 313 148 InvgStmÈnts Interesi Re¢eivable Investm&nt Income 27.074 10 19,645 46.719 101 989 148 708 7,579 107 793 oth•r Incoming Resour￿$ Trust Income 11 509 844 3￿ 504 Total Income and Endowm•nts 307 668 ￿780 191 790 831 EXPENDITURE Unre8tri¢lad Designated Restrlcted End0¥M￿nt rotsl Fund• Funds Fund8 Funds Funds 2023 Total Funds 2022 Charitabl• A¢tivits•s Advisory Serv￿5 8enevol8nt Payments Chapel Prtiiects Educational Supwt Grft Aid Scheme Ministy Support Professional Stryi¢xs 12 13 14 15 16 17 18 33 116.515 116,515 4,100 103.159 7,6(X) 1,568,816 4.100 16.645 271.405 45.204 286.050 276,464 135,204 124,263 34,809 30,958 1.519 Totsl Expondlture 578678 2 111260 Your aitention i¥ drawn to ncrtes 32 ènd 33 shMrwJ figures forthe prevityjs ye8r

GRACE BAPTIST TrUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Conlinuod) 2023 2022 SUBSCRipnoNS AND DONATIONS Churches Individu81s Subscriptions Charities 4,448 3.423 620 491 GIFT AID SCHEME Donations 276 205 PROFESSIONAL SERVICES Servtces ReThJer8d in Corn￿10n with Trust FLWKI Administration 15,141 Services Rendered in Connedion wrth the Saie of Redundant Chapels 16,156 Other se￿ices Rendered 4,251 INTEREST RECEIVABLE Bank Deposits Other 46,715 7,578 10. INVESTMENT INCOME Unlisted Inveslmenls- GBTC Common Invesknent Fund 11. TRUST INCOME Proceeds from Sale of Redundant Chap8ls 21

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Iconlinued) Direct Costs Support 2023 Glants 2022 11 ADVISORY SERVICES Providing Advice arNJ Information lo Churches 103 159 13. BENEVOLENT PAYMENTS Grants are m&Je to lThdivMluals Benevolent Fund Ministers, Aid Fund The Pastors, FUTh 1C 1Q CHAPEL PROJECTS Grants are made to Churches Grace ChLwth Bright￿ Manses Construction and maintenan￿ Proj'ects 1,541,154 15. EDUCATIONAL SUPPORT Grants are male to IndNwJuals B A Warburton meM￿la1 FLnd 16. GIFT AID SCHEME Administration Disbursements 10,328 271405 281733 6.317 16,645 271405 288 050 14,737 261 727 278 464 17. MINISTRY SUPPORT Churd) Projects 124 263 18. PROFESSIONAL SERVICES Services Rendered in Furtherar of Charitable Obj'ects

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (C￿￿1nUed) 19. MOVEMENT IN FUNDS Balan 1.1.23 Incom• Exp•nditurn Transfern Investment 8alan¢e GaIn￿{LO$S•S) 31.12.23 Unr•strlct•d Fund• G&ner81 Fund 743 10 Designated Funds Support Fund Vision and Venture Inodenlal Projects 1,824.025 1,676. 254.703 49,839 1,519 (1LhJ.th￿) 69,496 98,124 2,046,705 1,734,869 148 814 173 772 Restrictèd Fund$ Gift Aid Donations Brockl&y Fund Brockley Gravtyard FLFnd Grundisburgh Fund H81ifax Building FLFnd Haslemere Fund Otley Fund 8 A Warburton Memorial Fund Ministers. Aid Fund BenevoleTrt Fund The Pastors, Fund 8,268 276,205 35.367 1.617 274 303.103 271.405 {5,529} 7,539 36,984 6,262 259,917 143,416 43.186 136,612 2,018 57,979 2,018 2.651 203 520 57 e0.630 502 1,112 1,592 379 Endowm•nt Funds B A Warburton Memorial FLtnd Ministers, Aid Fund Benevo18nt Fun The Pastors. Fund Loan Fund 6.387 12,787 1,798 1e6,332 401 6,788 13,59 1,911 176,767 113 10,435 224 TOTAL FUNDS 87 980 191 578 678 2£￿ 797 5021597 The transler from Restrided Funds lo th• General Fund represerfs the fe¢ Cha￿ed ty the Corporation for administering thè Gift Aid Scheme. The transfer frc¥n Designatad Funds to the Genèral Fund r￿P￿sents an adjusknent oftsetting the shortfall beiween General Fund inccffie and experKliture. Dèsignated Funds ill be ulilised as the neg(l arises but churth planting projects are, by th&ir natu￿, lon9 lemi proje(Xs as it may tske behveen and t&n years for a new church to become fvlty ￿lI-SuppOrtIng. The b41ance of Gift Aid t)on8tiony Vill bè disbursed in accordarKe vilh the ￿$h￿S 01 the donors in the forthcoming financAal year and the balances in the Brctkley. B￿kleY Gravward. and Otley funds will be disFersed as the naed 8ris8s to support the ffl¢nistry in those ￿useS. Th¢ Haslemere Fund represents income and expenditure relating to thtr oversight of that chapel- whth has nu¥ been placed und•r the oversight of the ocrJJpying church. Grants will be ma¢J¥ from thè 6 A Warburton Memorial Fund, the Ministers. Aid Fund, the Benevolent Fund. and the Pastors, Fund as the need aris85. In accordance wth thè Uttynate Tru￿ of th8 Trust Deed goveming the procaeds from the sale of Providénce Baptist Chapel, Slaittrwaite. the funds hav& been allocated for building work in Yorkshire- specificalty for a new hall for Grace Baptist Church, HalrfaK. If a d￿lsiOn is taken not to prcteed with that project, thè funds will be used for another suitable buildin9 projecl. Th• Gnjndisburgh FLtnd ￿pre￿t$ furKts ￿1ved fo1104ing the dOSu￿ of the church and the sale of Ihe chapel and in ¢ompliance with the tern￿ of the Tnjst Deed - wll be distributèd in aceordance with insiructions received trom tnè chu(ch meMt￿5 at the date of ch)surB. Your attgntion is to not¢ 34 shoiNJ ¢tynparative fioures forth¥ previous ytar. 23

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR ThE YEAR ENDED 31 DECEMBER 2023 (Continued) 20. NET INCOME I (EXPENDITURE) ON ORDINARY ACTMTIES 2023 2022 This is stated after creditirwJ and thargiro the following amoLmts". Aftgr Crgdltlng". Interest Receivable Investment Income 46.719 101,989 7,579 1 CX),214 After Charglng". Audit Fee Depreciation Pansion Fund ContriL¥Jtions R￿1 7.750 394 19.C60 10,266 936 20,402 11,616 21. TANGIBLE FIXED ASSETS Fixknre8 Fittings and Equipment Total Balance as at 1 JanU￿Y 2023 Additions Disposals Balar￿ as at 31 Decemtér 2￿3 9,736 5,415 9,736 5,415 Accumvlated Depreciation Balance as at 1 January 2023 Charge year Eliminated in respect of Disrosals Balance as at 31 Decemter 2023 936 936 N¢1 Book Value as at 31 De¢0mber 2023 267 Net Book Value as at 31 December 2022 24

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Icontinued) 22. FIXED ASSET INVESTMENTS 2023 2022 2023 Valuatlon 2022 Valuatlo Unlisted Investments: At 1 January 2023 Additions Disposals Investment Gainsl{Losses) At 31 Dec8mb8r 2023 3.016.855 3,913,5SJ 3,2W.475 284,843 11,181,538) 5,008,397 284,843 (1,300,OCX)) 3016855 3 016 855 340127 76 3 200 475 The invostments listed above are held tyrnarity to provide an income arTrJ consist of untts h8ld in the Grac8 Baptist Trust C￿￿t￿jn Cffjimon Investment Fund. by the following funds." General Fund Supp)rt Fund 1SS,503 Units 197.163 712.122 Unit$ 959,586 197,163 258.710 959.5PE 1,177,186 Vision and Venture Incidental Proj8cas 1,CM)5,464 Untis 1.5￿,989 1,5￿.989 1,662,101 B A Warburton Fund 63,046 Units 99,7e4) 4,1C6 Units 99.760 104,219 Ministers, Aid FurKf 8,221 Unrts 6,788 Benevolent Fund 1,1￿ Units 13,59) The Pastors, FuThJ 1CE,933 Untt5 152 4￿2 1,911 152402 176 767 3 016 855 3 016 855 3 401 272 243,437 1,107,69J 1,563,977 98,C67 6,387 12,787 1,798 166 332 3 200 475 10.793 10,793 23. DEBTORS Due after one yoar Due wlthin onfr year 2023 2022 Loans lo Churches Prepayments and Ac£￿￿ Incone Othfjr Debtors 17.SXJ 21.(KQ 24,51X) 1,720 Loans to thurches are ￿n￿S1onary k)ans whth are made to assist with th8 acquisrtv)n, renovation, or maintenance of properties and are offered at rates of interest that are signrficantty ￿lOW the market rate lusualty .•￿ereSt-free-I. Loan repayments fall due in either 20 or 40 equal Instalm￿lS over a reriod of ten yeafs and *e guaranteed by three individuals who acl as guararrtors. CREDITORS 2023 2022 Due within one year Taxation and s￿al Se￿IritY Costs AccnJals and Defwred Income 1.711 1,4 11 25

GRACE BAPTIST TRUST CORPORATION NOTES TO ThE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Icontlnued) 25. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible Current Current Flxed Assets Investn￿ts Assets Liabilities Net A880ts Unrestrlctod Funds Gengral Fund De8ignatsd Funds Support Fund Vision and Venlu Incidental Projects 1,177.1 1.6S2,101 9.519 72,768 2.046,705 1,734,869 148814 3 930 388 986 882 Restricted Funds Grft Aid Donations Brockley Fund Broekley Gravey8rd Fund Grundisburgh Fund Halrfax Building Futyj Olley Fund B A Warburton mernc￿81 FUKI Ministers, Aid F￿d Benevolent Fund The Pastors, Fund 7,539 7,539 36,984 6,262 259,917 143,416 60,e)30 502 1.112 6,262 259,917 143,416 60,630 1,112 436 61569 578 367 Endowment Funds B A Wdrburton Mem¢xial Fwd Ministers, Aid F￿d Benevolent Fund The Pastors, Fund Loan Fund 6.788 13,5￿) 1.911 176.767 6,788 13.5 1,911 176,767 TOTAL FUNDS 5 021 597 Your attention 1$ drawn lo rnte 35 showmg ccffnparative fKJures for the Ffevious yw. 26. DETAILS OF FUNDS 26.1 General Funds General Funds are expendab￿ at the dISc￿li0n of the directors in furth8rantÈ of the obiects of the Corp)ralion. 11 is the desire of the directors that thè costs of running the Corporation will be met of membgrship 5Lknscriplions, Volunt￿ donations, professional services and nveStM￿l incom6 arLsiNJ frwn Gen8ral Fund reserves.

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Conlinued) 26. DETAILS OF FUNDS (Continued) 26.2 Deslgnatod Fundg Designated Funds comwse unrestricted funds re¢eNed by the CorFK)ration following the disposal of redundant chapels. The Supwt Fund h85 been set aside by the directors in ord8r lo provide supwrt to churthes that are undertakiro signrficanl maintenance projects and are utilised as the need arises within individual tocal churches. In addition a transfer is made lo the G￿eral Fund, as necessary. The Vision and Venture Fund was established following the SO￿ of the chapel in Brighton with the primary intention of supporting chur planting projects. Such wojects are, by their nature, long lem as rt may takè between ftve and ten years for a new church to be(vme fulty self-supporting. Similarty, the Incidental Projects FL￿d was established to support miscellaneous church projects. The funds will be utilised as opportunities arise and so, for the reasons gtven. rt is r￿t possible to slate when il Is anticipated that expendrture will be ineawr&J. 26.3 Restricted Funds Restricted Funds t4￿$1$1 of inrx)me ariswig frcln the Corporation's Enlknvment Funds. (see 26.41, which is available for distributic￿, d(￿lOn$ whith have been gtven lo support the ministry of SFCffic churthes, and donalims grven under CorporatK)n's Grft Aid Scheme. These donations are distributed to I￿al churches. missionary societies, and other charrtable causes that further the aims of the Corpffttion ￿ accordance with the instructions of the donors. 26.4 Endowment Funds The Pastors. Fund The Pastors, Fund was establish&J in 2010 folkywing the dosure of ￿ Strict Baptist Trust and the Strict Baptist Pension Fund under the provisions of section 74 of the Charities Act 1993. The pemianenl endowment of Ih05e tharrties has now bec(me the permanent endowment of the Corporation. Income arisiro from the Pastors. Fund Endowment is induded in Restricted Funds and is used to pay grants to Strict B¥tist whether ornlly serying or retired. B A Warburton Memorfal Fund The B A Warburton Memorial Fund wa$ established in 13. Desiring to encourage the training of men among Strict Baptist thurches who planned to enter the Ministry, the members of the Tabemade Baptist Church. Brighton collected fvnds in rn￿Ory of their p8slor, Benjamin A WarbUrt￿. The objects of th8 Trust are.. To render assistance to men who, folbwirKJ a dgfinite and clear call by the Holy Spirrt to thg ministry of the Gospel. seek to study and appty all diligence to the duty sel b8fore them. To keep the fund separ*e and distinct from all other CorK)oration furKIs. To seek fijrther donations in order to build up the capital, to invest th8 sama. To dislritrKrte the dividends ￿ accordance with the wrposes of the fund. Ministers. Aid Fund The Ministers, Aid Fund was establi$P￿ in 1917 10 pmkye temporary or pemanent financial assistance lo ministers connected with the Strict and Parti￿lar Baptist denomination and thg income is availab￿ for distribution. Under the lemis of the trust.. 'Ministers" are defined as PaSt￿S or ex pastcrs of such churches or wsons who have for a pgriod of three years or upwards regularly engaged in p￿achIng the Gospel In churches of the denomination vthether contiiuing to ￿ so or rK)L Thg Trustees (Grace Baptist Trust cOrp(￿t￿nI shall aThY will staThJ possessed of the sum representing the F￿d, and any further sums of money that may be added to it, to te hekj upon the trusts dec￿red. All securitt8s and income ￿l0￿1n9 to the arg 19 be kept separate from Ot￿r 3ecuritie5 and money. 50% of addtiions lo the fvtvj are to be a¢knd to capital. 50% dIstrit￿ed as income. 27

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued) 26. DETAILS OF FUNDS {Conllnuedl 26.4 Endowmgnt Funds (Continued) Benevolent Fund The Benevolent Fund was established in 1¥23 for the t￿Porary or pErmanert b8nefil of rfftdy persons connectÈd with Strict and Partiojlar Baptist denomination vthether such persons are pastors, r(iner8nt ministers, members or regular attendees al any thurch in the denomination or the Child￿ of any such persons. Under the lems of the trust". The Twslees IGrace Baptist Trust Corp(rt￿nI shall and will sland possessed of the sum representing the Fund, and any further sums of money that may be ad(Je(I to it, to te hekj upon the trusts declared. All securities and income belonging to the fLnl are lo be kept sep*e from other securrties and money. 50% of addttions to the fvnd lo be add8d to capital, ar¥J 50% distribJted as income. Loan Fund The Loan Fund was established by a Trust Deed daled 16 April 1912. Under lemis of the trust.. The Trustees (Grace Bapti51 Trust CorpyatKJn) are to stsnd wssessed of One ThousaThY Pounds representing the fund, and any further sums of money that may at any lime come into their hands as addf(ions to the fund. The funds are lo tE advan￿ by way of loan to the Tnjstees or members of any Strict 8nd Particular Baptist Churth in Ihg Unit&1 ￿'n9(knn fcK th8 purpose of acquiring or constructing land or buildings fcf use in Ix)nnection wsth Strici and ParticuLgr Baptist Churches. Any sums not immediately requir&J ￿ to be placed on deposrt or invested in such investments as Trustees are authorised to invest in by taw. The income arising from any such investment is to be used fcf the General Purwses of the CorporalKJn. All loans are to bè Intgrest4ree and repaid over a pwiod of not mora thon Ign years. 27. BOARD OF DIRECTORS No members of the Board recerved any remuneratron or other teneftts during the ygar12022.' £01. Seven members claimgd travelling expenses totalling £2.481 {2022.. Five memters daimed £1,119). 28

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (ContAnu0d) 28. EMPLOYEE INFORMATION 2023 2022 Totsl Payroll Costs comwsed.. Wages and SalarK8S Employers, NIC Other Benefi13 Other Pension Costs 70,610 4,963 18,784 4,1 16,719 114759 105413 Key Manag6Yment Personnel Other Staff 87.C62 79,956 114759 "Key Management Personnef is a term defining those indNiduals who have authority and fesponsibilty for planning, directirg and cont￿lI1￿j the actlvilies of the Corpxation. This dèfinition includes the Chief Executive and also the 0￿8ClOTS alihough no member of the Board received any remuneration during Ihe year {2022: £0). One employee r￿1ved emoluments between £60,IXQ £70,c￿ (2022..0) The average numbw of employees in the yearwas 212¢J22 2) The c￿￿tIOn contr1t￿￿j to two empbyee's Perwnal Pension Plans during the year12022.'21. There were rn outstandirKJ c£￿tri1xrt￿jns at the year eThJ. 29. FINANCIAL COMMITMENTS 29.1 Non•can¢ellable Operating Leases The following paym￿tS fall due undw ntyKancellabSe op&*ing leases: 2023 2022 Expiring wtthin 1 year Expiring wrthin 2- 5 years 29.2 Grant Fundlng In accordance with Uttimale Trust of the Trust Deed goveming the Fyoceeds from the sale of Providen￿ Baptist Chapel, Slailhwarte, the frJnds have been allocated for building work in Yorkshirg- specrficalty for a new hall for Grxe Baplist Churth, Halrfax. If a decision is taken not to proceed with that ￿018Ct, the funds will be used for anI￿r suitable buildiro project. Tha funds amounting lo £143.416 at the yew-￿￿ are invested in a charl1￿5 offi￿84 Invastmenl Fund Deposit A¢count12022: £136.612).

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Icontlnuedl 30. RELATED PARTY TRANSACTIONS 2023 2022 30.1 Donations Received from Related Parties Board of Directors Key Management Personnel 510 30 540 490 70 560 31. POST BALANCE SHEET EVENT 31.1 On 51h February 2024, the Board of Direclors approved a grant of £200,000, drawn from the Vision and Venture Fund, towards the purchase of a manse lo be used by a proposed church plant in Exeter. This was conditional upon the oversight of the church raising an additional £400,000 As at 4th March 2024, the date the accounts were signed. no further developments had taken place. 30

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Contlnuod) 31. STATEMENT OF FINANCIAL ACTMTES IPREVIOUS YEARI Unrestricted unrestrict￿ Restricted Endowm•nt Total Funds Funds Fund$ Funds Funds G•n•rnl D•signated 2022 InGome and Endowments frDm: Donations and Legao•s 11.838 3,755 15.593 Charitablg ActNrties 4.251 267,390 276,941 Investments 11.036 .574 10.183 107,793 Other 390,504 Total Eynditure on: Charitable ActNities 147.371 1,684.163 279.726 2.111,280 Total 147 371 111260 ILoswJ} l Galns on Invèstm (￿,122) 1693.461) {43,182} (192,7651 Net In¢ome l {ExpendituTrl 1176.368) (1.895,2461 143,182) 12,113.1941 Trnnsf•rs bétw••n Funds 130.350 66.348 (196.698) N•t Mov•m•nt in Funds 146.018) (1.828.898) (195,￿) 143.1821 12.113.194) R•eoncili*ion of Funds: Total Fund$ brought foTh¥ard a$ at l January 2022 ,709 5.469,365 .921 255.486 8,532.481 Total Funds ￿rried f0Th￿nI al at 31 1)ecemb¥ 2022 260 691 212 304 4 419 287 31

GRACE BAPTIST TRLIST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 {Conllnued) 32. INCOME AND ENDOWMENTS {PREVIOUS YEAR) Unrestrict8d Designated Re$tri¢t•d Endowment Funds Funds Funds Funds Total Funds 2022 Don4tlons and L•gac195 Subscription$ and Oonalions Legaoes 11.838 3.755 15,593 Charitsble Actlvlti•s Gift Aid Scheme Professional ServKes 267.39) 287,3 Investments Interest Reeeiv8bl¢ Inv&slmenl Income 3,327 4.252 7,579 574 107 793 other Incomlng R•source• Trust Income Totsl Income and Endowme 281328 33. EXPENDITURE (PREVIOUS YEAR) Unrestricted Designatad Re5tri¢tgd Endowment Total Funds Funds Funds Funds Funds 2022 Charltable Actlvttles Advisory Serv￿$ Benevolent P*ments Chapel Projeds Educationa5 Support Gift Aid Scheme Ministry Support Professional Services 103.159 103,159 7,600 1,568.816 1,W.816 14.737 261,n7 10.399 276,464 124,263 30,g58 113,864 1,483 29.475 Total Exponditur• 147 371 279rn

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued 34. MOVEMENT IN FUNDS {PREVIOUS YEAR) Balanc• 1.1.22 Incomfr Expendlture Trdnsfern Investsnent Balanc• GainsllLosw) 31.12.22 Unrestrf¢t•d Funds General Fund 147 371 Designated Funds Support Fund Vision and Ventur• Incidéntal Proje¢ls 1.513,418 3,766,t96 189751 426,783 52,4 (181.0411 {486.7621 1.824,025 1.876,9C6 1.655,018 693 461 Restricted Funds Gift Aid Donations Brod(ley Fund Brockley Graveyar<l Fund Halifax Building Fund Haslemere Fund Otley Fun¢J Stoke Golding Fund 8 A Warburton Memorial Fund Ministers, Aid Fund Benèvolènt Fund The Pastors. Fund 7,955 34,937 5,928 134,952 267.3Sfl 261,727 {5.350} 8,268 35,367 5,988 136,612 2,018 57.979 57,275 194,776 704 3.926 {191,348) 1.056 322 1.592 370 57 Endowmgnt Funds B A Warfourton Mèmorial Fund Ministers. Aid Fund Bèn8volgnl Fund The P8Stors' Fund Loan Fund 7.859 15.736 2.213 204,678 11,4721 12.9491 14151 {38,3461 6,387 12.787 1,798 186,332 25 000 TOTAL FUND8 790 831 4419287

GRACE BAPTIST TRUST CORPORATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued) 35. ANALYSIS OF NET ASSETS BETWEEN FUNDS (PREVIOUS YEAR) Tangible Current Current Net Fixed Assets Investments A880ts Liabilitios Ass•ts Unrestricted Funds General Fund Deslgnated Funds Support Fund Vision and Venture Incidental Pfojects 1,107,69) I.￿,977 98 IA7 2 769 734 716.335 112.929 1,824.025 1,676,9( 139536 3 640 467 870 733 Restrfcted Funds Grft Aid Donations Brockley Fund Brockley Gr8veyard Fund Halrfax Building FuTrJ Haslemere Fund Otley Fund B A Warburton Momc￿al Fund Ministers, Aj'd Fund Benevolent Fund The Pastcys, FurKI 8,268 35.367 5.988 136.612 2.018 57,979 299 1.592 379 8,268 35.367 5,988 136,612 2,018 57,979 299 1,592 379 Endowment Funds B A Warburton Memorial FLmd Ministers, Aid Fund Benevolent Fund The Pastors. Fund Loan Fund 6,387 12,787 1,798 166,332 6,387 12,787 1,798 166,332 187 TOTAL FUNDS 3 2C() 475 1 4419287

GRACE BAPTIST TRUST CORPORA TION ANNUAL ACCOUNTS 2023 INDEX Pa eNo. Annual Report and Accounts 35-45 Common Investment Fund 47-49 Trust Fund$ 51-54 Miscollaneou5 Inforniation COMMON INVESTMENT FUND 35-36 Report of the Trustees 37-38 Report of the Audrtors 39 Statement of Total Retum 39 Movement in Unrt Holders, Funds 40 Balance Sheet 41-43 Notes lo the Financial Statements 43 Significant Changes in the Portfolio 44-45 Portfolio Statement

GRACE &4PTIST TRUST CORPORATION COMMON INVESTMENT FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 CONSTITUTION The Common Investment Fund was establkshed by a SdHne of the Charity Cc¥nmission dated 2W August 1987. The Fund invests ¢apitsl on tehaif of C￿rat￿￿ and othw Churthos and Trust Funds of which the Corporation is a Twstee. The Directors OF the Ctxporation act as Trust88s of the Common Investment Fund. MANAGEMENT The Trustees have delegated the day-t(>day management and administraticm of the fwd to Fund Managers, Quitter Cheviot L￿￿ed. STRUCTURE The fund osxrates as a Unrt Tnjst. The total fuTrJ is divmled into units whith are created or canc8lled on the receipt of new funds or th8 redemption of holdings. At 31 Docombar 2023 units totallod 4,620,868120L'. 4,535.013} and w¥e valued at £1.653(E821 per unrt {2022.' £1.55547757), based on the porfolio of investment& INVESTMENT STRATEGY Approximately 5041A of the total units are hekl by pemianently endow&Y trust fiJrKls that demand a high level of income in the absence of any realist￿ opportunrties the utilisalion of their capital whereas the remainder of the untts are held by fvr¥Js Ihal are ab￿ lo ulilise their capital investment, as necessary. To oGcommodale these different inleresls, the investmenl strategy of the fund has been designed to athi&ve a realistic income yield Coupled with Song-term capital growlh as an inflationary hedge consistent with 8 target asset albcation, agreed with the invesbnent marsagers, of Interest stocks, gilts and corporate bonds 25%. equthes ar￿ slnJcturgJ inveslmenls 60%, and altemalives 15% wrth a perniitted 5% point variation. Investment perfomiance is wvemed by the Trustee$, acceptance of a moderate level of risk their adoption of an ethical stance that avoids investment in companies directly connected wrth alcohol. gambling, p￿ographY, lobaco), and genelic m¢JJrficalion, credit institutions that apply extortionate and exorbitant lending principles, and companies where little respect is shown for the sanctty of lrfe, human rights. the natural environment. INVESTMENT PERFORMANCE In the absen¢% of a suitable standard benchmark that equates lo the requirements of the Corporation, the Truste8s and FuTrJ Managers have fomiulated a specialist benchmark against whith the perfornance of the fvnd is lo be monitored. Following outbreak of war in Ukraine and the ramrfications of the ecorK)mic and wlitical un&grtainties in the UK during 2022, th8 Fund has begun lo recover and the income yigld athieved ￿ the Corporation's portfolio of invB5tments was 3.43% against a targ81 of 2.25%. and the total retum achieved was 9.86% against th8 benchmark of 8.59%. RESPONSIBILI The Trustees are responsible fcf the approval of the Investment Strategy, which is agreed with the Fund Managers. The Trustees meet FwKxJically to review the management of the funds and lo confirm any policies required.

GRACE BAPTIST TrUST CORPORATION COMMON INVESTMENT FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued) RESPONSIBILITIES OF THE TRUSTEES The Tfustees of the Common Investsnenl FuThJ are requir&d by the Scheme of the Charty Commission dated 271h August 1987, made under the Charit￿$ Act 1W, lo prepare financial statements in accordan￿ with the Charitvès {Accounts aThJ Rep￿ts1 Rggulations 2C#J8. In preparirvJ the financial statements the Trustees are requir&Y to.. Select suitable acccKJnting Folicres that are apprwale for the Furvj and then awly them consistently. Make judg9menls arKI estimates that are reasonable prL*Jent. Follow generally accepted aCl￿nting prirKiples and 4)pli¢able aca)unling standards, subject to any material departwe disclosed aThJ explained in the firkgncial slalemenls. Follow the disclosure requirements of Statement of Recommended Practice for Financkgl Statements of Authorised Funds120141. Prepare the finanaal statements on the basis that the Fund will CLintinue in q)&rati￿ unlass it is inappropriate to presume this. The Trustees are required lo manage the F￿d in accordan￿ with Scheme, maintain accounting records and lake re8wnable steps th8 prevention and detectK)n of fraud and other irregularities. On behatF of the Trustees PDRelF K C Wwltshire

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GRACE BAPTIST TRUST CORPORATION COMMON INVESTMENT FUND Opinion We have audited the financial statements of Grace Baptist Trust Ccfporation Common Investment Fund (the 'charity'l for the year ended 31 Decernb￿ 2023whith a)mprise the statement of total retum arKJ the balance sheet a￿1 notes to financkql statements, Inc1L￿ling a gummary of si9nrficant accounting policies. The finaneial reporting framewth that has been applied in their preparation is applicable law and United Kingdom AeLounting Standards. including Fffjancial ReFQrting Standard 102 The FinanGTal Reporting starpda￿ ap￿Icable in the UK and Republic of IrelaThY {Unrted lQngdc¥n Ger)8falty Accepted AccountirrtJ Practi￿1. In our opinion, the financial statements: give a true arKI fair view of the st818 of the tharits affaffs as at 31 Detsmber 2023 of its incoming resources and application of res(xJ￿s for the year then ended., have been properly preF4red in aC1J)rd￿ce wrth United Kingdom Generalty Acwled Accounting Practi￿,. and have been prepared in aCCordar￿e wrth the requirements of the Charities Act 2011. Basis for oplnion We conducted our in accordancg with Intematinal Standards on Auditing (UK) IISAS IUKII and applicable law. Our responsibilities urKler those standards are further deseribed in the Audilorfs responsibilities ￿ the audit of the finanual stalem8nts section of our r8Wt. We are independent of the charity in accordance wf(h the ethical requirements that are relevant to our audit of the financk81 statements in the UK including the FRC'S Ethical Standard, aThY we have fuKilled ow other ethical responsibilities in accordan￿ with these requirements. We bèlieve that the audit eviden￿ we have obtained 1$ Sufficient and apwopriate to F￿0VIde a basis for our ¢)pirHon. Conclusions relating to going concern In audf(ing the financial ststements, we have concluded that the trustees. use of the goiThJ concem basis of accountiro in th8 preparati¢)n of the financkql statements is apwopriate. Based on thè work we have performed, we have not identified any material U￿rtaIntieS relating to events or conditions that, individually or collectivety, may c2St signfficant d￿bt on the tharrt￿s ability to continue as a going concem for a penod of at least monthsfrom when the finarrial statements are authoris& for issue. Our responsibilities and the respons1bilrt￿S of the trustees wrth rgsFeca to ooing concem ar8 desuibed in the relevant sections of Ihis rewL Other infonnatlon The other informalijn compri￿$ information irduded in the amual rem other than the financial 51alements and our audilorfs report thereon. The Irusteos are responsible for the other infomion contained within the amual rewt. Our opinion on th8 financial stalemanl$ does not cover the other information and, ex￿p1 to the exlent otherwise explicitly stsled in our reFX)rt, we do not exwess any fom) of assurance conclusion Iherecfi. raspmsibilty is lo rgad Ihe other infomiation and, in doing so, consider whether the other infomation is materially incnnsistent wrth the financial statements or our knOw￿dge obtained in the course of the auditor otherwise appears lo te materially misstated. Ifwe identlfy such material inconsistencies or apparent material misstatements. we are required to determina whether this gives rise to a material misstatement in the finanaal slgmenls th￿s￿1Ve$. ￿, based on th8 wotl( we have perfomed, we C￿ClUde Ihat there is a material misstatement of this other irfo￿allOn, we 8re requir8d to report that fact. We have nothing lo rep￿ in this r8gd. Matters on whlch Tme are rewired lo report by exception have nothing lo report in respect of the following matters in re18ti¢m lo which the Ch&iligs (Accounts and Reports) Regulations 2CTh require us lo report lo you rf, in our ￿)inion. the infonnation gwen in thetrustses, reFQrt is ￿￿X￿s1$t8nt in any material respect with Ihefinan¢ial slatemenls., or sufficient aCCo￿ling records have mt been kept.. or th9 financial statem￿tS are not in agreement wrth the aceourting records and relums., or W8 have not reeeiv¢d all tho irrfomiation and explanations we wuire fgr our audrt. 37

Responsibilltles of trustees As explained more fully in the trustees, respDnsibiif(ies statement sel on pgge 36 the trustee5 are responsible for the weparalion of the finan￿al statements and beirKJ Satisf￿ that thoy give a true and fair view, and for such inlemal control as the tnjstees d&temine is ne￿Sary lo enable the pre￿rat￿)n of financial slalements that are free fr(￿ material misstatemgm. whether due to fr8ud or error. In preparing the finan￿al slalements, ￿ trustees are re5F￿SIble assessing the charty's ability lo continue as a going con￿rn. disclosin9, as applicable, matters relat&l to gotng (x)neem and using the going concem basis of Sec￿nting unl&ss the trustees erther netTJ to liquidate the charity or lo cease operalri)ns, or have no ￿lis11C aive but to do so. Audito￿3 responsibiltties for the audit of the financlal statemgnt6 We have been appointed as auditor under se(#￿n 144 of the Chanties Act 2011 and report in 8ecord8n with the Act and relevant regulalK)ns made c¢ having effe￿ thereund8r. Our objectives are lo cbtain reasonable asswanc8 abcAJt whether the fin￿￿81 stalemertg as a whole are free from material misstatement, whether due lo fraud or err￿, and to issue an 8uditols ￿pOrt that Includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantge that an audit conducted in accordance with ISAS {UK) will ahvays dele¢t a material misstaloment when f£ exists. Misstatements can arise from fraud or 8rnx u)nsidered material rf, indNidually or in the aggregate. they could reasonably be exFecle(I lo influw the ￿n¢￿￿1¢ decisions of users taken on the basis of these finan￿al statements. Irregularities, induding fraud, we InStar￿ of nC￿￿C%￿plIanc8 wiiti and regUlat￿)n5. We design procedures in line with our resFxJnsibilili8s, outlined gtrtrve. to de18d mat8rial misstatements in réspgct of Irregularities, including frauj Th8 extent to our K￿c&￿￿eS are capab19 of detecting irTegularitlOS, including fraud is detailed tfjbw.. Through cJJmmunicalicKt wilh the client Through consideration of material elements of the ac#xMJnt8 whth coukl potentially give rise lo misstatements Through und9rstaTrding legal framèwork in whith the oper8tes Through examination of thg tharws policies and procedures A furth&r descriptKin of cmjr respOns￿.11t18S for the audit of the financial statements is located on the Financial Reporting Council's websrte at.. h ..lfvA￿V.trc.Qr .ukJaudilorstes forms part ol our 8uditof$ rewi. onsibililies. This descriptK)n Use of our report This report is made solety lo the charitls trustees, as a body, in accordance with Part 4 of the Charities {Aceounls and Reports) Regulations 2CK)8. Our audri wofk h8s been undertaken so that we might st81e lo the chartty's trustees those matters we e rewired to state lo them in an auditr)rfs ￿pOrt and for no other purpose To Ilest extent Fermitled by l&v, wo do not aC￿pt or assume responsibility lo anyone other than the ritya the chtys trustees as a body, for rAJf 8udil work, for this report. or for the opinions we have fcffm Brewers Stat Audit Boume ouse Queen Street Gomshall Surrey GU5 9LY nlanls Dale". Y Lz Brewers Ch8rtered ACC￿ntan15 is e1￿ible for appointment as auditor of the tharity by vi￿8 of its eligibilty ft)r appointment as auditor of a company undw section 1212 of the Companies Act 2cl￿.

GRACE BAPTIST TRUST CORPORATION COMMON INVESTMENT FUND STATEMENT OF TOTAL RETURN FOR ThE YEAR ENDED 31 DECEMBER 2023 2023 2022 Nel Gainsl{Lossès) r Investments duriro tha Y 430,810 {1.688,3151 Gross Incomé 248,865 223,703 ExFenses Net Income 247.545 222,692 Tot81 RetLm the Yèar 678,355 11,465,623) Distributions (227,C￿l) 1223.189) Nel IncrnasellDecre8se) ￿ Unil Hokler5' Funds from Investment Aclivities STATEMENT OF MOVEMENT IN UNIT HOLDERS, FUNDS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Net Assets as al 1 January 2023 7.054.111 9.787.278 Mov8mgnt due to tho Croation and Cancellalicn of Units Amounts Received on Creation of Units 161.926 290,489 Amounts Paid on Cancellation crf Unit5 133,205 {1,044,3551 Net IncreasellDecreasel In Unit Holders. Funds from Investment Activrt 451.294 11,688.812) Net Assets as al 31 D8tsmbw 2023 7 638610 7054111 39

GRACE BAPTIST TRUST CORPORATION COMMON INVESTMENT FUND BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Portfojlo of Investments 7,W.193 7,001.183 Currènt Assets Debtors Cash at Bank and in COIF 72,972 53.626 302 53,928 74.611 Current Liabllltles Credrtors Net Currerrt Assets 73,411 52,928 Net Assets 7638 610 7054111 Unit Hold•rs' Fund$ 7054111 The Financial Statements on pages 3945 were apwoved by the Truslees on 4 Marth 2024. PDRe K C W Wllshire

GRACE BAPTIST TRUST CORPORATION COMMON INVESTMENT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES 1.1 Accounting conv￿tron$ These financial statemenls have teen prepared under the historic wsl convention, as modrfied by the revaluation of investments. and are in accordance with the Charities (Accounts Re[￿ls) Reguktions 2(J)8 and the Statement of Recornm￿ded Practice for Financial Statements of Aulhorised Funds {2014). 1.2 Dividends and Other Income Dividends on ordinary sl(£ks are credited to income when r8cervable. Interest on Govemment Stocks. convertib￿ Loan Stoc*s, and Bank Deposits is accrued on a daily basis_ 1.3 Distribution Policy The Fund diStr￿Utes, ￿ full. the irtome that is ac￿mU1at￿j be￿een distribution dates. 1.4 Investment Valuation Investments are valued at the mmknarket valu81iM at the close of business on the accounting date. l.S Taxatlon The Fund is exempt frcyn UK In¢￿￿e Caprtal Gain$ Tax due to its ch8ritsble status. 1.6 Fund Management Expenses FurKI Management Expenses are chty aJainst the Capital Value of the F￿d. NET GAINS ON INVESTMENTS The Nel Gainsl{Lossesl ￿ Inveslments Ojriro the year ￿)M&￿Is0.. 2023 2022 Proceeds from sale of investments 501d duriro the Original cost of investments sold during the year GainsllLossesl ￿alISed on investments sold dwing the year Net Lo$sesllGains) thereon already recx)gnisaJ in previous years Net unrealised apweciation for the year Fund Management Expenses Net GainsllLossgs) cfi Investrnent$ 1,050,436 813,764 36,601 75,968 943311 118,3631 1622 8771 {1,641,240) 25,260 472,864 430 810 1688 315 GROSS INCOME 2023 2022 UK Equities UK Fixed Interest Overseas Equilias Overseas Fixed Interest Altematives Interest on Deposits 93.482 49,952 32,720 18,441 49,325 95,579 28,138 37,731 18,428 42,505 41

GRACE BAPTIST TrUST CORPORATION COMMON INVESTMENT FUND NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 DECEMBER 2023 (Conllnued) EXPENSES 2023 2022 Audit Fee Bank Charges 1,310 10 1,(MJ2 011 DISTRIBUTIONS Distributions lake account of income re￿iVed on the ueathm of units income deducted on the cancellation ¢Jf untts. Penco per Unlt 2023 2022 20 May 2023 20 Novemter 2￿3 1.9222762 3.0345653 86,953 140108 81.611 141 578 DEBTORS 2023 2022 Amounts due from Fu￿1 Managers AcGrued Income 72,269 703 53.561 53 826 7. CASH AT BANK AND IN COIF 2023 2022 Cash at Bank (Income Funds) 1639 302 CREDITORS 2023 2022 Accruals 42

GRACE BAPTIST TRUST CORPORATION COMMON INVESTMENT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued) INCOME RESERVE The income reserve represents the income receNed by the Fund since the last distribution dale. 2023 2022 Income Reserve as at 1 January 2023 Transfer tollfroml Income Reserve In¢ome Reserve as al 31 December 2023 52.928 53,424 10. TRUSTEES The Trustees re￿iVed no remuneration or eX￿nSes. SUMMARY OF SIGNIFICANT CHANGES IN THE PORTFOLIO FOR THE YEAR ENDED 31 DECEMBER 2023 PURCHASES COST 104,400 112,700 36,500 36,500 27.000 44,500 78,300 32,000 600 15,500 25,000 71,000 73,700 Premier Miton Income Funds ICVC Corp Bond C Dis UK Gov 1250A Snr Bds 2041 UK Gov 3.25% Gilt Snr Bds 2044 UK Gov 4.25¥0 Snr Gill 2049 UK Gov 0.3750kn IIL Snr Bds 2062 UK Gov IIL Snr Bds 2073 UK Gov 0.5¥0 2029 UK Gov IIL Snr Bds 2068 Prusik Umbrella UCITS Fund Asian Equity Income Ishares li USD Traas Bd 7-10 YR UCIT ETF Bridgepoint Group Greencoat UK Wnd Blackrock Fund Managers BR CIF Ishs Env & Cbn 74,862 65.757 30,541 34,692 34,656 33,931 64,684 34,781 90,623 69,611 50,354 94,139 833 424 SALES PROCEEDS 8,700 84,700 5,000 1,380 18,000 4,000 9,440 60,000 370 220 1900 78,300 32.000 HSBC Holdings AXA Fixed Interest Investment ICVC US Short Dur High Y*ld IshaFe5 li Core UK Gilts UCITS ETF Relx CT Propety Growih & Income Fund ICVC 31 Group Matthews Asia Blackrock Fund Managers BR CIF Ishs North Am Goldman Sachs Funds Gbl Cnv Bond Ferguson Derwenl UK Gov 0.5% 2029 UK Gov IIL Snr Bds 2C68 54,783 69,920 49,980 39,867 157,656 66,821 95,722 58,124 38,802 25,507 36,150 64,042 43

GRACE BAPTIST TRUST CORPORATION COMMON INVESTMENT FUND PORTFOLIO sfATEMENT AS AT 31 DECEMBER 2023 Market Value asat31.12.23 % of total Portfolio UNITED KINGDOM CASH BALANCES QUI￿er Che¥￿t Investment Managws COIF Charities Deposrt Fund UK FIXED INTEREST 250,000 Alianz UK & European Inv Funds Gih Yield 34,IXXJ Allianz UK & Eurwean Inv Funds IIL Gi 20,(MJO Ishares li Core UK Gilts Ucits Eff 3,2CQ Ishares li I￿ Gitts Uctis Eff 200,000 Fidelity Investment Funds Money Builder 354,400 Premier Miton Income Funds ICVC Corp BoTrJ 260,000 Royal London Bond Funds Ethical Bond Z 25,7(J) UK Gov 0.25% Bds 2031 28,8(XJ UK Gov 0.625% Bds 2035 112,7￿ UK Gov 1.25% Snr Bds 2041 36,500 UK Gov 3.25% Gilt Snf Bds 2044 36,500 UK Gov 4.25% Snr Gill 2049 27,0(XJ UK Gov VL Snr Bds 2 44,5C(J UK Gov IIL Snr Bd$ 2073 34.￿5 1.831 377.750 27,132 211,￿ 44,429 163,460 259,882 261,3(MJ 20,349 20.559 73,461 32,683 37,214 35,807 UK EouinES 50,OCQ Barclays 7,7(KJ HSBC 9,750 Pwdential 16,250 Smrth IDS) 2.OCQ Compass Group 2,4CK) Experian 6,CKX) Persimmon 220,CXXJ Lloyds 2.850 Halma 1.670 Relx 4,600 Intemi￿liatè Capital Gro 780 London Stock Exchang8 50,0(K) Legal & General Group 8.5C(I B & M European Value Retail 4,CMXJ 31 Group 75,C(K) Taylor Wmpey 2,CQO Greggs 6,000 Ocado Gr￿p 25,000 Ascenlial 47.5CM) M & G 11,C((J Unite Group 440 Ferguson 31,000 JD Sports FaSh￿n 3,770 Smith & Nephew 1.3￿ Renishaw 12,OC%J National Grid 10,CKQ Unitgd Utilities Group 7,500 Segro 80,000 Urban Lcoislics REIT 6,500 Pets al Home 11,OC(t Darktrac 1,2CKJ Ashlead Group 25,C(Q Bridgepoint GroL4) 1.609,4 21 76,89) 48,934 86,502 49,936 42,920 76,848 104,2 65.094 51,937 77,303 72,337 125,550 47,617 110,288 52,040 45,504 73,350 105.640 114,840 66,374 51,445 40,659 46,514 126,960 105.950 101,920 20,683 40,337 65,544 2411338 4.217,651 31

GRACE BAPTIST TRUST CORPORATION COMMON INVESTMENT FUND PORTFOUO STATEMENT AS AT 31 DECEMBER 2023 (Continued) Marf(et Value as at 31.12.23 % of total Portfolio EUROPE EQUITIES 46,500 Blaorock Conlinentsl Eurokwn Inc(xne 16,360 Fidelity European Trust 2,695 Just Eat Takeaway 10,4C(I Premier Milon Investment Fur¥Js 86,120 58,8 32,852 USA EQUITIES 2,500 KBI Funds ICAV North America Equity A Ir 117,000 Blackrock BR CIF Ishs Eq Idx Fund 2,870 Sands Capital Funds US Seiect Gr(Th4th 280 sChr￿￿er Inlemational SeleclNJn 450 Granahan Funds US Smid 260,OCXI BNY Mellon Fund Managers US Equty FAR EAST 51,220 128,324 110,524 55,767 37,931 415610 799,376 10 EQUITIES 43,5CQ Federated H￿leS Investment FLnJs 6C(J Prusik Umbrella uC￿s Fund 50,CrfJO Baillie Grfford & Co 99,628 94,192 67 GLOBAL 261,370 EQUITIES 2,SC(l Allsping (Lux) w￿￿￿WIde Fund 17,1XKJ Fidelity China Speryal situat￿)ns 2.200 Sands Capital Funds Emerging Markets 5,500 Scottish Mortgage Investment Trust 5,750 Smithson Investment Trust 207,050 35,955 40,392 44,440 FIXED INTEREST 16,900 Pimco Global Advisor5 Investment Gf Cr&Yit ESG 154,804 15,5C4J Ishares li Treas Bd 7-IOYr UCIT Eff 302.800 AXA Short Duration Hoh Yield 68,603 257 925 ALTERNATIVE INVESTMENTS 409.2 481,332 49,000 International Public Partner 103,775 Chrysalis Investments 315,OCIJ Charities Property Fund 15,(KXI Princess Private Equty Holdings 150,000 Assura ,CKKJ The Renewals Irrfra5tructwe (&oup 71,CMJO GreencLJat UK Wnd 65,OC() Blackrock BR CIF Ishs Env & Lw Cbn 143,415 Schiehallion FurKI 67,326 80,633 387,686 134,951 72,180 102,420 107, 150,528 1,186,661 16 PORTFOLIO OF INVESTMENTS 7,565.1 NET CURRENT ASSErs 73,411 NET ASSETS 7 638610 100 45

GRACE BAPTIST TRUST CORPORATION ANNUAL ACCOUNTS 2023 INDEX Pa eNo. 1-34 Annual Report and Accounts 35-45 Common Investment Fund 47-49 Trust Funds 51-54 Miscellaneous Infomiation TRUST FUNDS 47 Receipts and Payments Account 48-49 Details of Trust Funds

GRACE BAPTIST TRUST CORPORATION TRUST FUND RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Receipls Various Trusts 310.632 545,342 Paymgnts Various Tnjsts 109,461 554,818 Surplusl(Deficltl of Receipts over Pa￿nts Balances brought foThvard as at 1 January 2023 Balances carried forward as at 31 Decèmber 2023 201,171 19.476) 556.OCE 747 701 The Corporation acts as a Trustee for the charitable trusts that are listed on pages 48 and 49 and the Rec8ipls and Payments Acc￿nt abjve is a Consolidated summary of the accounts of these Irusls. The accounts include both Caprtal and Revenue amounts. Separate acc4)unls are maintait￿d for each of the trusts and retums e made to the Charity Commission where appropriate. The Receipts and Paym8nls Account and the investments hold on behalf of the Trusls15ee below) are kept separat• Irom those of Ihe Corporation and are not indLwJed in the accounts set out on pages 12 10 34. Investmonts held on b8half of vafious tr¢tsts Interest in Grace Baptist Tnjst CtNporatNJn Common Investment FLmd £4.237,338 Further infomiation atout thurthes th we have b88n able to assist with supp)rt from th8 Trust Funds we adminislw is given on ow websrte and papÈr copies are availab￿. ￿ request. 47

GRACE BAPTIST TRUST CORPORATION TRUST FUNDS The following Chapel Trusts are administered by Order of the Charity Commission or by ￿ t&rms of Trusl Deeds. CMJrches quaIrf￿ to bengfrt thg tems of Ihe Trusts shcyjld communiote wilh the Chief ExecutlV8. Dividends re the-. - ALTON TRUST to Strict and Part1￿j1ar Baptist Chapets in Hanpshire. and &loining Cl￿ntIeS of West 8nd East Sussex. Surrey and WKshI￿. BLACKBURN TRUST to Strict and PartiC￿lar B8Ptist Ch8peb in Lar￿shir8. COBHAM TRUST to Strict and Particul¥ Baptist ChaFBls within a radiug of 12 mi￿$ of Cobham. CROYDON TRUST Iow8rds thg upkeep, extension or improV￿ent of the ￿lIdingS of Strict and Partiojlar Baptist Churches. EDENBRIDGE TRUST to Stricl and Partthlar Baoist cha￿lS in Kent. Surrey, East and West Sussax. EPPING TRUST lo Strict ParticJJl BaplL8t Chap&ls in Essex wrthin a radius of 25 miles of Epping. FENLAND CHURCHES TRUST to Strict and PartI￿18r Baptist Chtyels in Cambridgeshire, Norfolk and Lincolnshwe. FLECKNEY TRUST to Strict and PartK#Jlar BaPt￿t Chapels with a preference for those in Leicestershire. GLOUCESTERSHIRE COM81NED CHARITIES to Strict and PartioJlw B8Ptis1 cha￿19 in the County of Gloucestershire and adjoining cDunties. HORLEY (LEE STREET) TRUST lo St￿1 KI ParticJJ18r Baplist cha￿￿8 in SLxrey, Hampshire, West and East Sussex. HORNSEY RISE TRUST to Strict Bapti￿ Ch4)els in Mhddwx and London. IVINGHOE TRUST lo Partiojlar Baptist Chap*l$ in the ¢(￿ntIeS of Bedford$hire, BuckiThJhamshire, Hertfordshire and Northamplonshire_ MAIDSTONE (KING STREET) TRUST trj Strict Baptist chape￿ in the Courty of Kenl. MAIDSTONE (MOTE ROAD) TRUST to Strict Baptist Chapels wrthin 30 mi￿$ crf Maidgtone. MARDEN TRUST lo Strict and Partiojlar Bapb'st Chapels in Kent. RUSHDEN TRUST to Stitt Baptist Chapels wilhin 30 MI￿ d Rushden. SLEAFORD TRUST to Str￿t 8nd Partiajlar Baptist Chapels Trn LincA)In$hire. and adjoining Counties of Cambridgeshire, LeI￿Stershire Nottinghamshire. SOUTH8OROUGH TRUST to Stnct Baptist Chapo15 in Kert TONBRIDGE TRUST lo Strid PartKJJlw Baptisl ch￿15 in Kenl. WADDESDON HILL TRUST to Strict and Particular Baptist Chapels in the C￿UntieS of Buckinghamshire, Bedfordshire and HertFofdshire. WARBLETON TRUST to Particular Baptist Chapels with a w8f¥er￿e for tmise in East Sussex.

GRACE BAPTIST TRUST CORPORATION TRUST FUNDS (Continued) WARRINGTON TRUST lo Strrd ￿ PartthkT Bapttst Chapels in the uxmlies of Cheshire, Mersey5ide, Greater Manthestsr, Lancashire, Cumbria ¥KI IAÈst Yorkthire. WILTSHIRE TRUST to any Strict aThJ P8rticJJLqr Baptist Cha￿1 in the C(MJnty of IAfjllshire. WRIGHT MEMORIAL to Partiwlar Baptist (*￿r¢￿e5 in Lancashire and West Yorkshir8. Tnjsl Funds relating to the followirg pL%£s or ￿SOnS are adm￿lStered as (Jire￿ed by the Charity Commission, or by the tenns of tnjsl deeds or wills.. Brentford, Broadslairs, Brockham, Brockley, Chaplin Legacy, Devizes. H8wrNth - Hart￿Y Trust, Haw¢yth Manse, Ipswith Manse, Lea, Mardgn, Margale, Meopham Manse, Norris Legacy. Ottey, Portsmouth Manse. Pr8s1C￿ Settlgmenl, Ramsey, Sl. Albans, Two Waters. Wattisham, Wetherd8n Manse. 49

GRACE BAPTIST TRUST CORPORATION ANNUAL ACCOUNTS 2023 INDEX eNo. 1-34 Annual Report and Accounts 35-45 Common Inveslm•nt Fund 47-49 Trust Funds 51-54 Miscellaneous Inforniation MISCELLANEOUS INFORMATION 51 Basis of Faith 52 Rules 53 Ways we Can Help you Ways you can Help us

GRACE BAPTIST TRUST CORPORATION BASIS OF FAITH The verbal inspiration of the Holy Scrtpttjres of the Old and New Testaments and that they are the sole, Sup￿rne, and all-5ufficienl aijthority in every matter of Christian faith and practice. One living and only true God. subsisting in the Trinity of Three co-equal and co-elernal Persons - the Father, the Son. and the Holy Spirit". all infinite without beginning.. the Father neither begotten nor proceeding." the Son eternally begotten of the Father.. the Holy Spirit eternally proceeding from the Father and Ihe Son. The Deity, eternal Sonship, and spotless humanty of the Lord Jesus Chnst.. His virgin birth, cruGifixion, death, and burial.. HIS physical resurrection. and as￿nSIon into heaven. The personal, eternal, and ur￿ndItiOnal election of the Church in Christ unto evedasting salvatson. The Fall tsf mankind in Adam their federal head whose transgression is imputed lo them, and from whom they derive a corrupt nature. thereby rendering them both unable and unwilling lo meet the claims of God's righteous and holy law. That though all men are rendered spiritualty impotent by the Fall, they are none the less accountable lo God for their sins, and they shall answer for the same in the day of judgement except they be gfanted repentance unlo eternal life. The special, particular, and elemal redemption from all sin. and the penal consequence thereof, of all God's elect, through the substitutionary sacrifice of the Lord Jesus Chnst. The eternal and everlasting jusb'fication through faith of the elect and redeemed Church, by the blood and imputed righteousness of Christ. irrespective of any moral or spiritual works done by them either before or after regeneration_ The effectual calling of all the redeemed by the invincible power and grace of the Holy Spirit. according lo the counsel of God's will, involving their regeneration and sanctification by the direct agency of the Holy Spirit. through which the saints grow in grace perfects'ng holiness in the fear of the Lord. 10. The grace of faith whereby the ele¢l are enabled to believe lo the saving of their souls is the gift of God. and the work of the Holy Spirit in their hearts. convinces them of sin, works in them repentance unto life. and enables them to look lo. receive. and rest upon the Lord Jesus Christ alone for salvation. The final perseverance in the ways of God of all those who have been chosen by the Father. redeemed by the Son. and regenerated by the Holy Spirit. so that they shall never perish, but have etemal life. 12. The second coming of the Lord Jesus Christ, the resurrection of the dead, both of the just and the unjust, when the wicked will go away into evedasting punishment and the righteous into life eternal. 13. The duty and privilege of all true believers lo profess their repentan￿ towards God and faith in the Lord Jesus Christ. by being baptized, that is. immersed in water, in the name of the Father, and of the Son. and of the Hoty Spint, PTtor to becoming members of a Christian Church or partaking of the Lord's Supper. 14. The preaching of the Gospel to every creature as a divine command and solemn duty. The necessity of a believe¢s life being consistent with the profession he makes. The congregational order of the Churches. 15. 16. 51

GRACE BAPTIST TRUST CORPORATION RULES (EXTRACTED FROM THE ARTICLES OF ASSOCIATION) Every member of the Corporation shall be a member of one of the following classes, namety.. - (al Ordinary Members. That is lo say. members of a Particsjlar Baptist Church praclising Strict communion, who subscribe lo the said D(xlrinal Basis and who pay lo the Corporation an annual subscription to be fixed from time to time by the Council. Ibl Delegate Members. Thal is to say, members being delegates nominated by a Particular Baptist Church praclising Strict communion which adheres lo the said Doctrinal Basis and makes an annual donation to the Corporation of not less than five pounds or of such other amounts as shall be fixed from lime to time by the Council PROVIDED THAT Churches consisting of less than ten members shall be entitled lo nominate one Delegate Member and that Churches consisting of len or more members shall be entitled to nominate tsvo Delegate Members. that Churches con51sling of twenty or more members shall be entitled lo nominate three Delegate Members and that Churches consisting of forty or more members shall be entitled lo nominate four Delegates. The nomination of a person as Delegate Member shall be in writing, signed by the Secretary of the Church, and the same shall be delivered lo the Secretary of the Corporab"on. and upon such nomination and nolificalion in writing of hislher consent to act as such Delegate Member the person nominated shall, subject to the approval of the Council, be duly entered in the Register of Members. Each Delegate Member shall subscribe lo the said Doctrinal Basis and shall be entitled to one vote only. notsvithstanding that helshe may also be an Ordinary Member of the Corporation. Icl Associate Members. That is to say. persons who satisfy the Council that they are in sympathy with the said Doctrinal Basis and with the objects of the Corporation. Each Associate Member shall pay the Corporation an annual subscription of an amount to be fixed from time to time by the Council. Associate membership does not carry the right to vole. The Corporation shall hold a General Meets'ng in every calendar year as its Annual General Meeting al such lime and place as may be delemiined by the Council. The affairs of the Corporation shall be managed by a CoLsncil of Management. The members of the Council shall be elected at each Annual General Meeting from among the Ordinary Members and the Delegate Members of the Corporation, and every Church entitled lo nominate a Delegate Member shall be entitled lo nominate in writing a male member lo be included in the list of persons to be submitted to the meeting for election. Immediately upon election, the Council shall proceed to elect from amongst their number a Chairman, a Deputy Chainnan. and a Treasurer. Al the Annual General Meeting in every year the Council shall lay befo￿ the Corporation a proper income and expenditure account for the period since the last preceding account lor in the case of the first account since the incorporation of the Corporalionl made up lo a dale not more than four months before such meeting. together wlh a proper balance sheet made up as al the same dale. 52

GRACE BAPTIST TRUST CORPORATION WAYS WE CAN HELP YOU We exist lo serve the churches and we are able lo do this in a number of ways, as outlined below. If you feel that we can help in any of the ways listed please contact the Chief Executive. Grants and Loans Vvhen redundant chapels are sold the Money 15 invested and the investment income is available lo make grants lo other churches whose ministries are expanding and who need lo redevelop their buildings. In some cases. the capital sum may be lent lo churches, either as an interest-tree loan or as an inlerest-bearing loan at a competitive rate of interesL Professional Advlte The office staff are available to offer advice on many day-to-day matters associated with the adminislralive side of running a church. In ad¢Jition. the Board of Directors comprise a group of men who are actively involved in the work and who are able lo give preliminary guidan￿ as lo how church should pro￿ed in the light of a particular difficulty that may arise. We have expertise in various professional fields including accountancy, architecture. health and safety issues. investments, law. and surveying. Trusteeship The Corporation has been recogni5ed as a Baptist Trust Corporation within the meaning of the 8aplisl and Congregational Trusts Act. 1951 and may be appointed a Iruslee of any Particular B3plisl Church practising strict communion. Churche5 appointing the Corporation as a trustee will not in fijture be faced with the necessity of finding a lol of other trustees (sometimes as many as twelve or thirteen). even if the trust deed requires it. The Corporation is willing lo act as Iruslee alongside local people or as Sole Trustee. In this way churches will no longer be faced with difficulties arising from the fact that widely scattered trustees are rarely able lo meet". nor will problems arise if some of the trustees change their doctrinal position or refuse lo act in a matter of importance_ Furthermore, the difficulties that can arise when the last of the trustees has died or cannot be traced will not ￿CUr. We have a programme for as51sling churches of which the Corporation is a trustee by commissioning a survey of their premises and working with them to implement a 5tructUTed programme of essential maintenance. In addition advice concerning church problems is often sought, bul it should be made clear that the willingness of the Corporation to give advice is by no means limited lo those churches of which il is a trustee. Any church may approach the Corporatson knowing that its appeal will receive a sympathetic consideration. Endowment Funds We administer a number of endowment funds such as our Loan Fund, Ministers, Aid Fund, Benevolent Fund, the Pastors, Fund, and the B A Warburton Fund (which under the terms of the trust is available lo assist men who, being members of our churches, are in training for the Minislryl. We are always willing lo accept trusteeship of other similar fvnds. Taxofflciènt Giving We are able to help churches maximise their ￿SourCeS through our Gift Aid scheme, which is particularly helpful lo churches that may not have in-house expertise or to individua15 who wish lo give anonymously. In addition, one gift to us can be distributed lo various cause5 on behalf of the donor. 53

GRACE BAPTIST TRUST CORPORATION WAYS YOU CAN HELP US By giving We exist lo serve the churches and we make no charge for doing so lapart from specific servi￿$ such as the Gift Aid scheme). However, serving others is a costly business." office rent has to be paid,. the audit fee has to be paid.. so do our staffl These costs are met out of the generous giving of the Lord's people and from our investment income. latthough that is income that would otherwise be given lo churchesl. You can help us by making personal donations to defray these expenses and by encouraging your church to do so as well. By becoming a personal member Annual subscriptions are.. Full Membership- £10.00 per annum. Asswate Membership - £5.00 per annum. Personal membership is a more committed way of supporting us in our rninistry, bul in addition il enables you to attend our Annual General Meeting and have a say in the way the Corporation is run. The membership form makes il clear what type of membership 15 applicable in your case. Be warnedl If ever the Corporation were lo close down with debts. personal members would be required lo contribute £5 towards repaying them. However. we trust that by acting as good stewards of all that the Lord has entrusted to us. il will never happen. By encouraging your church to become a subseribing church Churches that make a gift to the funds of the Corporation in the course of a year are entitled lo send Delegates lo our Annual General Meeting. In this way the churches can become closely involved in the ongoing ministry of the Corporation. By remembering us In your will. The help of friends who have remembered the work in their wills has been a source of great encouragement over the years_ A 'Fom of 8eque5f is given below, whi¢h may be used in this connection. "I give and bequeath lo the Treasurer for the time being of the GRACE BAPTIST TRUST CORPORATION the sum of £ free of duties to be applied to the general purposes of the said Corporation, and I direct that the receipt of the said Treasurer shall be tsken and deemed a sufficient discharge for the same." By telllng others about ourwork and encouraging them to support us. You may have friends who are not familiar with the ministry of the Grace Baptist Ttusl Corporation. Tell them about the many services we offer and all the help and advice we can gtve. By telling us about the needs of churches and individuals. We administer a number of funds that are to be used for the benefit of others when they are in need Sometimes we know about the need. and sometimes we do not. If you know of a church or church member who needs our help. and you feel it is appropriate to let us know. we would love lo hear from you.

GRACE BAPTIST TRUST (ORPOMTION Grace Baptist Trust Corporation 19 Croydon Road, Caterham, Surrey CR3 6PA Tel: [phone] Fax.. [phone] [e-mail] www.gbtc.org.uk Company Limited by Guarantee. Registered Number 592488 Registered Charity. Registration Number 251675