Greyfriars Missionary Trust (Registered Charity No 270369) Annual Report and Financial Statements Year ended 31 December 2020 o see Rd•tranSfmed itythe love and powÈr of Jesus"
GREYFRIARS MISSIONARYTRusr CHARITY REGISTRATION NUMBER 270369 ANNUAL REPORT AND HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 page ReFM)rt of the Trustees 1-3 Independent Examinerfs Report Statement of Financial Activitses Balan Sheet Notes lo the Financial Statements
GREfFRIARS MISSIONARY TRUST CHARITY REGISTRATION NUMBER 270369 1. Establishment and Purpose Greytn'ars Missionary TTU5t rthe Trusfi Wds estabfished by a Trust Deed dated 25th September 1975. The chanty's main PUTpose is the advancement of 1J10n by the promob.on and encouragement of Christian missionary wCk Fn the Evawell1 Chfisban tradrtitin. 2. Trustees and Officers During the yearthe follumng served as Tntstg9S'. Elizabeth Smith, Chair Sin September 201-. Alan Cross. GreyrS PCC represm Helen Dibley Philip Giddings (resigned 1rp June 2021) Craig Hampton Timothy Seals lelected 10th June 2021> Revd Travid Walker. as VKar ofGreyfrBrs Chwch Reajing. The number of Tnjstees may not be fewer than four or more than six. TV Twstees seNe ex officio, as above. The appoirrtment and removal of TTUStees who are not Trustees ex officio vests in the existing Trustees. The following officers assisted the Trustees". Se¢retsry Anthew Kylg {resNJned 4th March 2021} Treasurnr Alexis Wood 3. Address The principal address of the charity is.. GreyfrÈars Missionory Tfust Greyfriars Centre Friar Street READING RG1 1EH 4. Object and Main Aclivity and Plans for Future Perfods Under tls goveming documert the obj.ect ofts Tnjst is to benefft Christian MissKinary WOTk. To aehieve this objeclive, the main athty is to xt as a channel for givtng by members of Greyhiars Church Reading and New Hope Church Reading towards the spon50r5hip of Greyfriar5' Mission Partners and the support of Mission Sooeties in the thurches have an interest The Trust ftjffits its objethve principally by maknng grants to other charitable L%yJie5. In future pe11J5. the Trust plans to continue sponsoring Greyfn"ar5' Mission Partners and Mission socith.es and doing so in ways that refiects the interests ofthe rnember5 of GreYfrIa Church and Nvw Hope Church. 5. Public Benefft The Trustees have comled wryth the duty (set in sectiC 4 ofthe Charittes Ad 2011} to have due regard to public benefft guidan published by the Chartty Commissson. The Trustees consider that public benefft Ès provided by the focus of the grants on education and training, relief of poverty. sports and recreab'on. ¢x*tservation and cwimunty development. tcgether with religious activibes. Page 1
GREYFRIARS MISSIONARY TRUST CHARrrY REGISTRATION NUMBER 270369 6. Mission Partners The Trust supported 15 Misyon Partners 8rwnd the w1 in 2020 (16 in 2019). The total of $sOrShip to MissY)n Partners ineased from £97.300 in 2019 tr) £114.406 in 2020 and thrs indud&s a £10,000 onff retirement gift to Ruth WillrnS of the missM)n agency. chrlian Literature Cn&sade (Note 4 of the Financial Slatementsl. The grant lev frK all MissK)n Pathers were Irrease by 2.4% {3% in 2019). The calling of each of the MissKJn Partsrs is tested by a panel of memirs of the Greytn"8rs Mtssionary Trust TTUStees and a PCC rewesentalive before teing wted for support by thè TTUSL 7. Other Donations Payments were made to Mission Scthlies of£10.OtX) In 20 (£26.825 in 2019). One planned Short terni mission placement was sUPpLed during yearwth a one-off grdnt of £500. l£nil in 20191 (Note 4 of the Financial Statements). The Cov119 gk>al patKlefflic stopped short temi lnissn placèm8nts going ahel. 8. Finances Trust income for 2020 was £94.958: th)wn 31% on 2019 in)Me of£136.736 primarily because of reduced donations and rental incorrE. The revaluation gains of £5.352 on investrnent assets 12019.. £11,175 rev8lLWtion gain) thè Fmancial Statents). The Trust's property at 14 SaLville Streetwa5 rwrtthxrtfr(xn Swtstr)8r 2020. generatir¥J rental income of £3.750. In the prerflng months. thè Kwty was used by a Mission Partnèr family dunr9 their UK-home vrt and also rnalntenan deccKat50n as rrIed oul. Management foes. maintenanL, detxjration and other exp&Ylilure amounted to £6.989 for 2020 (2019: £2.00n. 9. The role of Greyfriars Missionary Trust No part of general giving to GreyfrTW5 Churth or Hope Church lo suprN)rt its Mission Partners. Those ITKIrduals who wish to partiopate in Ihe financial SUPFQrt ofthe MisSn Partners an(1 the Mssk)n S(KEtW SUWMNigJ by Ihe TnJsL gift direcuytr) GrEY[ria MIonary TrusL 10. Reserves Thè TnJst88s r8gard thè Le Fund of£178.700 {201tr. £173.348) as lonterni reserves, to be relained to provhde an in¢y)1 unlÈl tBne as it requir&1 eilher to rret a shortf1 in general )nations recwvod or tr) pwde tunts tmaJenir¥J the $pe of the TnS giwng to mi8sion& The Tnjstees do not seek to maintain a generdl rese¥ve bey the red5 of providing a reasonable levd of worknr•J (2pita. and rfarry siqnificant aLxumulati¢J) of such furKls were to o(JJr. giving to missions wwld be tn¢Jeased CordIngly. Page 2
- Rlsk Assessment The Trust exists to make grants to rrttssionaries and MISS sletIeS GreyfrSaTS Churth and New Hope Church wish to suprK)rt fmn(ialty. The major SOU of income to the Tnjst is gifts. Chfy from members of Greytiiars Chtjrch and New Hcpe Church. past and presenL The Trustees cortsider that thè grèat8St risk to the Tntsfs abilty to txjntinue ris acthibes is that gIng to tt)e Trust wjld diminish. Were income to decrease subslantialty. whith is a heNJhtened rEk be(2use of the COVI[ 19 global pan¢Jemic, the TTUStwouid have to reduce the level andlor scope of grdnts. However, this r&k is mityJated at present tin by the availability of reserves largdy created by lega(ies. Regarding the risk of ktsses arEir¥J frcxn dishor 8th1t or neIger (ffi the part of officers or Trustees. the Trustees cx)nsKlerthat irttemal t&* 8lreW in ace prode rEasonale aSsLtran.
- Preparation of Accounts The accounts {finanaal staiements) have been prepared in authance with the Finala1 Reporb"rtg Standard applicable in Ihe Urbited lQrgdom aThJ RepubliG of Ireland {FRS 1021 as applrable 5inGe 1 January 2015. and the Statement of R(me¥Jed PraGlice.' A¢cwnting and Reporb"ry by Charitios preparing their accounts in aCCordare with the Financial Repong Standard applib in the UK and Republic of Irnd IFRS 102) a5 applic8b SI 1 January 2015, aThJ the ChaTib8s Act 2011. The accounts {finar¢ual statements) have been prepared lo give a and fairf view and have departed from the Charities IAc(xAJnts and Repcffts) Reguk2tions 28 only to the extent required to provide a 'true fair V.. This deparbjre has invol¥e(I followng ArUting ar¢d Reporting by Charities preparing their accounts in accordan with Ihe Financial ReporbrNJ Standard appluble in the UK and Republic of Ireland IFRS 102). rather than the AcUting and RepNting by Chanties: Statement of Recommended Practi effeclive from 1 Aw"125 whK has since been wthdrawn. This Report has been 8wYoved by Tntsle 15 O¢hb (Chair of theTrustees) Page 3
GREYFRIARS MISSIONARY TRUST CHARifi REGISTRATION NUMBER 270369 Independent Examinerfs Report to the Trustees of Greyfriars Missionary Trust I report to the Trustees on my examination of the accounts of the above chanty 1.the Trusf} fot Ihe year ended 31 December 2020 which are set out on pages 5 to 7. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparatton of the accounts in accordance with the requirements of the Charities Act 2011 {'the Acri. I report in respect of my examination of the Trusys aiwunts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under secbon 145(5) {b} of the ACL Independent examinerfs statement I have completed my examinatson. I confim that no material matters have come to my attention in connection with the examination which gives me cause to consider that in any malerial respect". the accounting records were not kept in accordance with section 130 of the Charities Act", or the COUnts did not a¢¢ord with the accounting records., or the coUnts did not comply wrth the applThble requirements concerning the form and content of accounts set in the Charities (Accounts and Reports) Regulab'ons 2008, olher than any requiremenl that the accounts give a Inje and fairf view, which is not a matter considered as part of an independent examinats"on. I have no conwns and have come across no other matters in connection wrth the examination lo which attention should be drawn in this reFKIrt in order to enable a proper understanding of the accounts to be reached. Signed IL Rachel Belshaw Hill Top Accounting Ltd Hill Cottage. Church Lane. Ufton Nerve( Reading. RG7 4HQ Ig O(hb -2021 Page 4
¥)19 INCOMING RESOURCES Vc4Un*ifAlff $1.6J3 1421• 10220 J r4(NM 14210 22,S76 103ZO 14.$01 20.0 I.444 2,870 W71 750 3,79J 10.422 136,738 Toiallnmn RESOURCES EXPENDED GRntsand Costs tsf 14SxkniStr£el 14W• 124J06 124.125 1007 122 121ts17 122 IWY7 126249 122217 132217 126249 P.TO4 13Y 11.175 11.175 P75541 21.6 RECONCIUATKIN Cf FIINDS T(1alfiJr$trw0 Th124 17& 372,921 FED ASSETS TSnwba$gets 73.739 173.739 17470D 27.418 89.6Y5 In¥estrnents 2FT 11&145 149.182 372.921 FUNDS QFTHE CHARtFY 79.124 1n.348 70.449 1mT¢ty 744 291,•f4 322.921 Lttsrtuth
I LEGACY FUND I OThER FIJNOS 2019 31970 1&735 19.105 21.136 15.735 37. 6.143 11,85S 21.9)2 15.3fj7 2.orKI 114416 97.310 10.( 12 GetEr41 tx5 1¥12S 1Q(IVJ 1246 124125
NOTESTOTrIEp£¢ciJNrs 2D?9 613FT 7Th) 139,9 89.6T5 163,414 73W8 89.675 163,023 1S92 189,372 P1.(KKI) .woi 4352 139,9$7 51 163.414 7&7(L) 61 139, 163.434 v4uBd al£If)a WW42r.ThETrtsIEe Thxio re¥duètr Treasurer