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 wrr*xe 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 n*gt 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*ar. ￿nI hJentMtrJ thè Tru8f8 poky M tO*Tle Ihe asset to its re￿￿8b1& ¥ak*. INVESTMEIITS Inv••tm•rts •lMvknt V*k 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)eferr*J 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• tn*laM w￿d•r (Wr*r• ¢hJrth a rdal•J party. lTr*dlr•J GhlW4 th• TnMf8 for2022 01£5.78312ff21.. £5.1COI. 11. COMMITMENT8 sy￿ Lv*i5 Tre8SU Grryh'ars Moswry Tn*t