2022-12-31-accounts

Greyfriars Missionary Trust R• Ist•rod Cha . No 270369) Annual Report and Financlal Stat8m8nts Year ended 31 December 2022 o see Readlng translormed by the kne and power of Jesus"

GREYFRIARS MISSIONARY TRUST CHARrrY REGISTrATION NUMBER 270369 ANNUAL REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2022 CONTENTS page Report of thè Trustees 1-3 Independent Examinerfs Report Staternant of Flnancial Actrvities Balance Sheet Notes to the Financial Statements 6-7

GREYFRIARS MISSIONARY TrUST CHARrrY REGISTrATION NUMBER 270369 1. Establlshment and Purpo Gr8yfriars Missionary Trust rthe Trusf) wa8 e8tabll6hed by a Trnst De￿ dated 25th September 1975. The TrusY$ main wrrxe is the advancement of religK)n by the promo1￿ and 8ncourag¢ment of Chrfslian mI￿lonary work In the Evan981i¢al Christian tradit￿. 2. Trust••s and Officars Durfng th8 yaar. a￿1 In tha p8rlod to thg approval 01th18 R8p)r( the follovlng Berved a$ TN•tso•: Ellzabeth Smhh. Chalr Alan Cross Helen Dlbl•y (resigned 23 Jun8 2022) Cralg Hampton Sven L•wl8 (appo)tad 23 JU￿ 2022 to th8 rolo of Tru8te8 and Tr8aBuror with 8ff8ct from 31 Octob8r 20221 Tlmothy S•als R•vd Davld Walk•r. Me4r ol Groyfrlars Churth R6adlng The number of Trust￿ may not b8 than knjr or rrMYo than six. Tho follo￿ng officer8 a9818t￿ the Tru8lee8: S•cr•tsry Tlmothy Gunts•k•r lappolnted by amail on e wi 2022 and 9123 June 2022 Trusteè mgellng}. Tha positton of Secretsry was vae4nl fr¢￿ 4 March 2021 untll Mr Gunasekarfs appc4ntmgnt- th8 dulio6 of Secretary wer8 fuffllled by the Chalr and othor Trustee8 durfng the va¢4nGy. Tr•aAur•r Al•xl• Wa¢xl Iro*ned 23 Junè 2022 with effecl from 31 OGtober 20221. 3. Addre88 The prlnclp818ddress of the charlty b.. Greyfriars MIs8ionary Trust Greyfriars c￿tre Friar Street RE401NG RG1 1EH 4. Object and Maln Actlvlty and Plans for Futurn Perlods Undar Its governlng do¢umenl, the oblective of the Trust L8 to benefft Christian Mlssionary work. To athigve thls obpctive. the maln aclivrty is to acl a8 a channel for gNing by memb8r5 of Greyfrtars Church, Reading and New Hope Church. Reoding towards the sponsorship of Greyfriars, Mission Portners and the support of Mission Sodeties In whth the thurthes have an interest. The Trust fulfil$ 8 oblective prinapalty by making grants to other charitsble trx4Jies. lft frjturg periods. Ihe Trust plans to continue Sponsoring Greyfriars, Mission Partners and Mtssion SOL>8t￿ and dolng so in ways that refiect the interests ofthe members of Greyfriars Church and New Hope Churth. Page 1

GREYFRIARS MISSIONARY TRUST CHARITY REGISTrATION NUMBER 270369 5. Flnances No partofgoneral glvlng to Greyh1ats Chwth or New Hop6 Church mto supwt its MisS￿n Partners. Those individualswho wish to pa￿apate in the financial support of the Mission Parthers and th6 Mission PJoGieties supported by the Trust gift dir&#ly to Greyfnat¥ Missic￿ary Trust Trust income for 2022 was £103.382. up 13.7% on Inc<￿ in 2021 of £90,938. dtfvén principally by incr&9sed charrtable giwng by donors. Tharg were rovaluallon 10ss6s of £10.558 on lontrtém inve3tments12021.' £10.547 revaluath?n gaSn) {Nole 7 of the Financial Ststements). ¥ttith were broad￿ rA)nwstenl the perfomiance of wider Inv8slmènt markets in 2022. The Trust's propety at 14 Sack￿11& Street contlnuèd to be rent￿ cmjt duriThJ 2022. generating rentsl In¢ome of £13,92012021.. £13.1391. Manag8ment fe88. mainlewKe and other expendllure amounted to £2,984 for 202212021: £3.969). 6. Ml88lon Partners The Trust 8UPPCrftod 16 Missim Patharn around th8 workl in 2022 (2021.. 141. Grants lo mis8￿n Partners Incr8as•d from £92,608 in 2021 to £106.399 in 2022 {Note 4 of the Flnan(ao1 Statements). Grant scale5 at which Mis81on Partners are fvnded were unchaThJed in 2022. Tho c8lllng ol each ofthe Ml8sK)n Partnern18 by a of W￿arnbe￿ ofthè Gre￿101¥ MiswonE4ry Tru81 Trustse8 8fKI a PCC repra8entslfva beftye being accepted for $uppcrt by the Tw81. 7. Othar Grants Grants of£5,000 were mad8 to MISSk￿ Soclets'88 In 2022 (2021: £nil). No grants were made for short- tami mlsslon durlng 2021 as the COVID-19 91¢)bal pandomk 8topp8d 8hort-t6m ml86lon pla¢ements golng 8h88d. As short-lemi m1881on aCt￿ty recommenced Sn 2022, th6 TnJstaes wera pleased to make gr8nt8 01 £700 to lThJlvhJua18 on Bhort-terni (Note 4 oftho Flnarthl St•t8ments). 8. Reserves Tho Tru8tea8 888•88 the adoquaGy ol tha Tnffjvs reBervg8 at each m8etlng du￿n9 tha y￿r (at leaet three me8tOngs A yaor gro held). In a8$8ssing the rgsgrv08' adaquacy th& Tru$toe8 take account of.. Expected levels of income and budgeted levels of exPw￿l1ure, Induding commllments to Mission Partners, over the $hcfft 8fKI h)nger terni; Wheth•r thorg are dolkns that n8•d to be fundgd out of cash r88aMS ¢)Vor the medlum temi.. and Th8 n8e(I to hdd furMI8 to ngt urrfore80gn operatlonal ¢>J&lB. To th• extent the Trusteas as$95s nlfi(nl 8cxumulatlon8 ￿ fund8 had occurred. g￿lTh9 to ml8810 would be Increased accordingty. The Trustees regard the Legacy Furvj of £178,689 12021: £189.247) as long-temi roserves. to be r8lained to pn)VKle an income until Such time as it is required either to meet a shortfall in gen8ral donats¢)ns recelved (Y to provwje funds broadening the 8(x)pe of the Trust's gNing to mi88iorrd. Page 2

GREYFRIARS MISSIONARY TrUST CHARITY REGISTRATION NUMBER 270369 9. Publlc B•nofft Th8 Trustees have comp118d wlth the duty (set out in Section 4 of the Charibes Act 20111 to havè due rg98rd to publtc benefit guidance published by the Charity Commiss￿n. The Trustoes consider that publlc benefit is provi(Jed by the fcw of the grants on e(lucatk)n and training, relief of povety. sports and recreation. ￿nseNatiOn and LJ)rnrnunity development, tcoother with rdigious activities. 10. Risk Assossment The Trust ex13ts to make grants to missionaries and mission socyeti8s wthich Groyfriar8 Church and N8w Hope Church wish to supwt fin&￿alty. The major s￿ree of income to Ihg Trust is grfts. chie from members of GreyM¥rs Church and New HO￿ Church. past 8nd p￿Sent. Th6 Trusle8s consider that the gr8ats$t risk to the Trust's abllity to contin4Je its actlvths 19 that gNlng to the Trugt could diminish. Were Sncome to d¢¢rease Substan￿al￿, the Trust woukj have to roduce the lavel andlorscop8 of grants. Howevor, thi$ riBk is mthgated at the pro8•nt time by the avallabillty of fvndB. Regardlng the rLqk of108888 8rWNJ from dlshonost aC¢NIt￿ or n8gllgsnr* on the pgrt of officars or Tru8te88, the Tru8tee8 ￿n6￿￿er that Intsmal check rrfoC￿uraS already in k4ace provld& mas￿able a88urance. 11. Preparatlon of Arxounts The ac(>)unls Ifinanck918tatements) have been prepared In accordarw wlth thg Flnanclal Report6ng Slanderd applicable in tho United Kingdom arKI Republ￿ of Ireland {FRS 1021, the Statement of Rècommended Precbca: A¢￿￿ling ond Reporting ty Charitias prgporing their accounts In at￿rdance wllh th8 Fln8ncl81 R8p)rtINJ sland8￿ 8ppIIc4bk8 In thè UK and Rewbllc of IreLqnd IFRS 1021. 8nd the Chodll08 Act 2011. Th18 Report h88 b￿n ar¢Yovgd by the Tru8tO88. -2023 (Chatr ol th• Truste8$1 Pagè 3

GREYFRIARS MISSIONARY TrUST CHARITY REC￿RATIoN NUMBER 270369 Ind•pend•nt Examln•V8 Report to tho Trn•to8• of Groymars Ml88lonary Trust I rep￿1 to the Trust￿8 on my 8xamk1al￿ oftho PAyx¥Jnts of the abov6 (adty fthe Tru8YI th r ended 31 Decamber 2022 whk arn oot Lmrt en p8g88 5 to 7. Re8pon¥lbllltl¢J and bJ•ls of r￿￿rt As the chority'8 Trn8tee8. yw awe rwslble for of fv ac%¥yJnts In accordance wllh r•qulrnm•nl• ofts Charlll8B kt 2011 fft Acrk I rgport In rn#pecl of my 9Xan￿nalOn of th8 Tru8t'8 aC(X)Ltnts carrl8<1 out undor 86cUon 145 of the 2011 Act and Sn carrylno out my examinatlon I h8¥9 fr￿1￿￿8d au applkatAo Dlrxdon• gfven by tho Charfty Comm16slon undw 8eclkn 145(5} Ibl of the A( Ind•pend•nt oxamlM¢• •tatem8nt I havo corrW6t•d my oxamlnjuon. I c<th that rn materlal mattarn to my attentlon In conn•ckn wllh th8 •xaMiia￿On whth g￿68 me ¢au88 to o)n6ld8r that In any matorfal rfjspeci.. tho accwnvng reo)rd$ wgro not k8Pt kn accx)rdaThx with 8gcdon 130 oftha Charltl•8 Act, or th• a￿o￿nts dkl not acc¢r¢ wllh th8 8c%￿ntIng fo￿￿. or the 8ccounts not ci)mpPy wlth tho applkabl• r8qulrem8nts concwnSng the fom and content of accounts 8•t oul In the Charitles IAcaxJnts and Rep(xts) Regulatl￿$ 2LN)8, othar than roqulr•mwrt that tho ac(￿nts a ue and falff vlvw, wh1( Is not a matter gxldored as part of on Inth[￿nI oxamlnatlon. I hav6 no concwrni and have corm wos8 no otPw matter8 In I￿n8thn twlth the 8xamlnatk)n to vthlth attontlon 8￿uld bo dram In rewt In orderto •nablo a prow underJtandlno oftha acuunts to b8 r8ach•d. Ra¢*el 8d8hw Hlll Top Ac￿unung Lld Hill Cottage. Churdl Lan8. Ufton NwvoL Readlng. RG7 4HQ Pag8 4

GREYFMARS AISSIONARYTRUST STATEMENT OF FINANCLALACnVtnES fDrth•y4w•nd•d 31 DK•mbv 2022 CMAiufi REIYSTRATION NUMBER 270319 P8ge 5 2021 UnY•&trfct•d FuTrJs D•Blgrt•lgd Fund• INCOMING RE80URCES Tot•1 VO￿nIary GrfiASJ donatkrym 16,451 11.388 5,968 11,813 75,440 2,359 13.139 90.938 11,483 7,378 13,238 DonalKJn• through CAF & tslrwl• Incom& Tox Red•mabl• 7,an In¥e$lmentthccff Inc4Jme from rortal 1166 &156 920 103.382 10J.382 RESOURCE8 EXPtNOED h•rtiabK ar¥itt86 Grant8 d￿•1￿¥ Rental pro￿ty c￿ts lJh8r ¢08ts of chadtable ar {1,1)001 11110191 119841 I92,8￿) 13.9891 110 196,6851 1114117) Governance cosm 200 11.0001 1116.J17) 200 198,88SI 1114317) 111,•aS1 112,•3SI 16,947) 77• 110,BMI 110,SS81 10,547 u• from on 4,600 ftECONelUATION OF FUNDS Totsl fvnd& bro Total lund• ¢•vrlod forw•rd 178.690 272 122 295,614 BALANCE 8HEET a• at 31 D•¢•rnl￿ 2422 2022 2021 NON4URRENT A88EYS T8ngitrAe fixed a88ets Inveitment& T4)tsl n¢)TrGurr•nl •M•ts 11JO,ONI 100.0 89.247 189.247 174689 CURRENT AS8ET8 Debtors Invesfrn•nts C88h 8t bank kn h•r•J Tot•1 ¢unnl ••••ts 24,$34 63,373 .682 ga.132 100,197 CREDtroRS.. Amount•lalllTrJ du•wlthkn omywr 12.8301 TOTAL NET A88ET8 FUNDS OF THE CHIRirY ￿[￿lrIctsd Gernral FUTh UnwlrSthd Legwcy FurK1 De%wJn•t•d Furth 45,590 189,247 174689 TOTAL FUNDS 122 Liz Smlh Chair ofTrust8es GrefvJr3 Fth¥sionaryTr￿t 3on4 IoL3

CHARTfY REGISTRATION NUMBER 270369 Pag¢ 6 NOTES TO THE Accoufrirs STATEMENT OF A¢couKllNG POUCIES The finand81 statèrnents a￿ prepared in aF4• SI￿ thv Ch￿88 SORP IFR8 1021. ¢hailty has a reawt that tsre are &Ye4￿ to COnbr￿ in cw8"onal exiilence fr¥the fores•e•& IrKom¢ fr(Mn gits arJ donatkJNo o uNJited to reven￿ kn tr rt is recel¥oble. maykndude any ￿ter£s1 wned on a kgBCy adm￿￿trakn oflts estate exerrtor. Intere818Th1 th'YrfJeTrJ on pj acc[￿d to tr GNwal Furxl. In¥e8tm8nts ore in th8 ba￿r￿ •W rrSmwknt 31 Dece4nkn. # odv•J ThWBbn8nt mw•g0rn. TaN41b￿ r￿tt assets wlgie ID a IrEelKJ ycf•ty. 14 Slr881 R8•y￿.. 11 48 aftvKakwl It¥J al8￿. Mw88 purchaled th 31 Becember 1998 tr£67.SCQ in 2W) at£1fAJ,I￿. The TnAt does not ha% o po¥? ofr•valuatbJn. Thè worrty ￿ Iherefue hdd ot h￿t0￿1 valuatljn wlthln tho accounts. The tru8te¢s rethftho prcyty olimwr•• the v48nl On W¥nivnt i¥ bl￿tif￿ lh• Tn*Vs Iw li to thè as¥t dty•n lo itB not reakabbè LEGACY FUND Tho L898cy Furk1 had • d£178.889 1131 DKefflt•r 2022 (2021.. £189,247). Thkn £I￿,0c￿kh l• th• vfil￿ of 14 Street and £78.689 of W T•Am In¥#kn￿￿{So9 Note 7). I DESIGNATED FUND8 tlty hp$ no eThj¢y￿nefiI Tho trustses may d••nth e•rtain finjs or lor wrpow. 20C4 tho TOAI rec•knd • grft of£1CM),(K from Emm4n¢MI Fbjusing Assodth lo rottthr¥J Iho fakl aTrJ fThYlThJ In flnwnual Tho gfftwo8 lo m•k• • dThYererKe to cc1￿￿￿,. ho￿ I￿rekn (kniiwattra thkn th)notkm 89 a fvJTrJ lor retlrfr m•ion p•rty￿. ID repNtad u CwlBn•l•d F￿J• th Ihem C•b3nat•J F￿J1 at 31 D•c•mber 2022 wer¢ £69,¢J 12021.. £80,rn1. 4. CHA￿TABLE AcnwnES. GPANTS ANO DONAMONS Tho maln purpom oflhe Tnot ￿ 10 rec•i dthn• fr￿1 thè ofGrthlorn Chwch. ReadlrvJ ond N￿W How Chur¢h, Rea(NThJ. Th• IN•t••• u•uaty portrwb VF• mwBion agerth aTha do $0 for P&flods ordlnarly ol 8upport may t• rwked Trusi 2022 2021 MS••lon Pirtn•rn. R•c•Mng mkn•lM ao• oneern Acticfj Parknws) Communit8s Intemgtknnal Overne88 F0y￿P Wy¢irffe Trw8latorn Church Soovty St¢ward•hip Iplwizi Joy 31,470 10,73S ,06 1473J 7.374 7.015 31,470 15,735 19.188 15,735 8,498 2.OCpJ 101399 92.6 Mknslon s￿11￿•• sho￿t•￿ mS••ton Fyndlng of •lft• Ger￿r￿ FuTrJ G ReRtrict8d Furn1 (¥ft 111,091 1,000 11 92,6C6 OThER COSTS OF CHARITABLE ACTIVMES aThl GOVERIIAIICE COST8 othor coots of ¢h•ritsblw aclvltl• gfving to the T[￿li￿1h1n Grvfjriar5 ChLYth ￿021". £rffj. A fee of£20012021. £2tKIl lo Exarnknarsxihe ofth8 annual r8Wt ond 8c(thJnts Th? th¥ity hoi no ern￿0￿￿1. The chartyts ¥c4￿te￿￿', in Iher roles as TnAteeJ. Seu•aThl Trwlw. Tr 8e• Treasurer do not recefve remY￿rat￿)n. Thwe rKJ Tr￿ the ￿ (2021.. fnll.

GREYFRfARS MIP#SIONARYTR113T ellA￿Tr REQ18TRATION NUMBER270389 P898 7 NOYES TO TrIE ACCOUPITS FIXED ASSETS onW I￿knftted ￿81 * a frBI NWY, 14 S•¢W strael R￿￿vd.. it helj a• J fiJncl)nal ffftd 81set. It￿$ Val￿d at £100.Crt)O by o qualfvd in 2NJ). The tr￿fees, rts retskn i that vakjalon aTrJ not to reV￿ue the pr0￿￿8nn￿1ty. Th8 I[￿tael re¥￿￿ the WOF•tyknr ofinpwrrwrteath >ar. ￿nI hJentMtrJ thè Tru8f8 poky M tOTle Ihe asset to its re￿￿8b1& ¥ak. INVESTMEIITS Inv••tm•rts •lMvknt Vk 2022 t•rni SPwJrtt•ffli 2tr21 Totsl Equtt￿ 0rn1 m•nApJ fvTrJ• UK fixed knlwe•t I•￿r￿S UK 8th￿1 tts￿n d 1742 74M7 1742 7&947 3.167 88.080 83,573 152.820 130 371 MBrket V81w al ofj Add dd￿0rn at mort•t v• Trnn8lern to ￿rrer1 eccount Net alwl kJ88e8 on Marflet valw at end of 61573 4•1•20 139,967 {10.0001 110.1)001 449 130.371 io,so• 10.$47 152.820 8r The T￿8￿& minager M.. CCLA Invtsim•nt k4• C8F •. DeBTOR8 2021 HMRC. Glft Rec414 knrued Inccrfn• 189J 1987 24.634 •. ¢REDmR8 cruakl l)eferrJ In¢cmo Mliskn Parw Gr•nt ICMRIPINtsrml 21 630 2.OQJ 10. RELATED PARTY TrANSACTION8 Two of t￿1081 m8mbw• oluw par0th￿ CINvth C(0x￿ (PCCI oflknfityrn dwY#J 2022. Th• tnlaM w￿d•r (Wrr• ¢hJrth a rdal•J party. lTrdlr•J GhlW4 th• TnMf8 for2022 01£5.78312ff21.. £5.1COI. 11. COMMITMENT8 sy￿ Lvi5 Tre8SU Grryh'ars Moswry Tnt