Greyfriars Missionary Trust (Registered Charity No 270369) Annual Report and Flnancial Statements Year anded 31 December 2023 "To see Readlng transforn)ed by the love and power of Jesus"
GRVfFRIARS PAISSIONARY TRUST CHARtrY REGISTRATION NUMBER 270369 ANNUAL RepoRT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CONTEpifs page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Ststements
GREYFRIARS MISSIONARY TRUST CHARITY REGISTrATION NUMBER 270369 Report of the Trustses 1. E8tabli8hm•nt and Purpose Greyfriars Missionary Trust ("the Twsfi was estsblished by a Trust Deed dated 25th September 1975. The Trust's main purpose is the advancement of relIgn by the promots.on and encouragom8nt ol Christian missionary work in the Evangelical Christsn tradition. 2. Tru8ts0• and Offic•rs Durlng the year, and In the period to the approval of this Repor( th8 folking seTred a6 Trustao•.' Martln Haley, Chalr (appointed as Trusteè and Chair on 23 September 20231 Ellzabeth Smrth {resigned as Tru$toe and Chair on 23 Soptember 2023) Alan Cross {as GYIar$ PGC representabve) Craig Hampton Sven Lewis (Treasurer) Timthy Seals Revd David Walker, Vlcar of Grey[9 Church Rè&Jing The numbw ofTru8lees may not b& fthver than fouror more than six. Two trust•88 serve ex offt, one as the Vlcar of Greyfn'ars Church Reading and the other as Greyfn'ars PCC reprosentative. The apwlnlment and removal of Trustees who are not Twstees ox Offic vests in the $tIng Trustee8 alone. The followlng officer assistsd the Ttea$.. 8rntary: Tlmothy Gunas•kar 3. Addru• The pnCIpal address of th8 charity ' Greyfriars Missionary Trust Greytriars Centre Friar Street READING RG1 1EH 4. Object and Maln Actlvlty and Plans for Future Perfods Under its goveming docunxn( the obJe¢bve of the Trust is to beneffit Christian Missionary work. To achieve this ot4"ectNe. the main activty is to act as a channel for gNing by m8mbefS of Greyfn'ars Church. Reading and New Hope ChUh, ReadirKJ tcrwards the swnsorship of Greyfnars, Mission Partners and the suprAYt of Mission Sc¢ith"es in which the churche5 have an interest. The Trust fulfils its objective principalty by making grants to other chantsble bodS. In future periods, the Trust plans to continue SFonsoring Greyffiars, Mission Partners and Mission &Iet and doing so in ways Ihat refiect the interests of the members of Greyfn'ars Church and New Hope Church. Page 1
GREYFRIARS MISSIONARY TRUST CHARITY REGISTRATION NUMBER 270369 5. Finances No part ofgeneral giving to Greyfrtars Church or New Hope Church goe5 to SUPPOrt its Mission Partner5. Those individualswho wish to part¢ipate in the ffinancial supportof the MisSn Partners and the Mission Societies Supported by the Trust grve dire¢ty to Gfeyfriar¥ Missionary Trust Trust income for 2023 was £93.256, down 9.8% on incoff in 2022 of £103,382, due to certain donors discontinuing their giving during the year. There were revaluation gains of £7,298 on h)ntemi financ1 investments12022'. £10,558 ValUation lossl (Note 7 ofthe Financial Statem8rrts>. whth Yre broadty consistent with the perft>mnce ofwid8r investment markets in 2023. The Trusys propety at 14 Sa¢kville Street ntinUed to be rented out during 2023, generating ntaI income of£14,06012022.. £13,920). Management fees, maintenance and other expenditure amounted to £3,638 for 2023 {2022: £2,984). 6. MIs8lon Pathorn The Trust supported 14 Mission Partners around tha world in 2023 (2022.. 16). Grant scales at whlch Mission Partners are fvnded were increased in 2023 by 7.5% on 2022 level$. The nel resu of the funding increase less funded Mission Parthers in 2023 was thal grants to Mission Partners decreased to £103,577 in 2023 from £1(.399 in 2022 (Note 4 of the Financial Statements). The ¢alling of each of the Mission Parb)•r¥ is tested by a panel of rnmbors of thè Greyfriars Mi$6ionary Trust Trustées and a PCC iepresenlatsve tefore being accepted for supwrt by the Trust. 7. Oth•r Grants Grants of£1,000 were made lo Mlssk)n Soclelbs In 2023 (2022.. £5,000). In aoditlon. a grant of £2,600 wa8 made to a Short-temi youth mission from Greyfriars Church. Reading lo Tanzani8 In the summer of 202312022. grants totslllng £700 were made to Pport varlou8 short-iem m1661on aclvltses). (Note 4 of the Financial Statements}. 8. Re8orve8 The Trustees asse88 the adequacy of the Trusf8 ieserves at each meetsng during the year lat least three meetings a year are held). In assessing the reserves. adequacy the Trustees take account ot. Expected levels of income and budgeted levels of expenditure. inciuding commitments to Misslon Partners, over the short and longer term.. Whether there are dekits that to be funded out ofcash reserves over thè m8dium temi.. and The need to hold funds to meet unforeseen operational Costs. To the extent the Trustees assess significant umUlatIonS of funts had (Mxurred. giving to missions would be incre88ed accordingly. The Trustees rngard the Legacy Fund of £185.988 {22. £178.6891 as lont8m reserves, to be retained lo provide an Incoff until $u¢h kn.me a¥ rt is required either to meet a shortfall in general donats.ons received or to provide furKis for broadèning thg scopg of the Twst's giviThJ to missions. Page 2
GREYFRIARS IAISSIONARY TRUST CHARITY REGBTRAMON NUMBER 270369 9. Public Benefit The Trustees have complied with the duty (set out in Section 4 of the Chanties Act 20111 to have due regard to public benefil guidance published by the Charity Commission. The Trustees consider that public benefft is provided by the focus of the grants on education and training. relief of pjverty, swrts and reatIOn. ¢On$atr.0n and communty deveknpment. togetherwrth religious xts'vities. 10. Rlsk Assessment The Trust exists to make grants to missK*nari8s mission $th"8$ whth Greyfriars Church and New Hope Church wish to SUPPOrt financialty. The major source of InCOff to the TrLtst is grfts, chiefly from members of Greyfn'ars Church and New Hope Church, past and present. The Trustees consider that the greatest risk to the Trust's ability to conts'nue its actpiib'es that giving to the Trust could diminish. Were income to decrease substantialty, the Trust wouhj have to r&Juce the level andlor scope of grants. However, this risk is mitigated at the present tyme by the availabilty of funds. Regardlng the risk of losses arising from dishonest a¢tivthes or negligence on the part of officers or Truslees, the Trustees consider that intemal Check procedures readY in place provide reasonablé a86uranc8. 11. Pr•paration of Accounts The accounts (financial $tatem8ntsl have been ppared in accordance with the Financial Reporting Standard appluble in Ihe Unrted Kingdom and R&publK of IreLqnd IFRS 102}. the Stateffent of Recommended Pra¢ti¢e'. Accounts'ng and Reporting by Charities preparing their acGount8 in accordance with the Financ1 Reporting Stsndard aPpIable in the UK and Republlc of Ireland IFRS 102), and tha Charities Act 2011. This Report ha8 been approvod by tho Tru$tees. Slgned .2024 (Chair of the Trustoes) P483
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GREYFRIARS MISSIONARY TRU8T STATEhlENTOF FIIIANCIAL A¢TI¥TnES lorthl 31 D•e•fflbw CHARITY AEGISTRATION NUMBER2TO¥O9 X23 UnTeMrtrd Fund• O•¥luMt•d Funds 2022 IIICOhllNG RESOURCE8 Tolal Volunt8ry Irrtm• Grf1 donab"r NOGtAl d( S4209 11,483 7,378 13.236 6A3Z Ire Tax RethlmJ 73.571 731 J5120 86,306 3,186 13.920 103,382 14mQ TotsiKom 218 RESOURCES EXPENI Ch•rbt•¥e Grants and doMkn• Rental prowty C1 Othor cc4ts olcharfloL4• aththi 1107.171) IJMJ81 1107.1rn 1112,00&1 12,9841 1111 J171 1116,11n (2001 111I16n 1112,10 {116.317) iknt•xp•ndllUV• brf•m n•t ITh¥•• 1149111 112,9351 110.SOBI D•lklilrom on •£Uvb1b 23.492 RECONCILiATIOII OF FUN08 TO funds brtyj rtywird ol•1 fund8 urrl•d fortrI 29J 814 272.122 IS2 260,50• BALANCE 8HÉET•• It )1 O•cwnb•r2013 2023 2022 NOW4URRENT AS8Er8 IIK.00 ioo,c 78.689 178,689 In¥•iim•nl• Toi•l flx•d t86.918 CURRENT AS$Ers Inv•$thnI• Debtorn Cmh al and In han¢Y Totsl curnnta8••ts 58,882 5.661 3106• 93,832 4.e02 74.T11 LIABiunES: hllng du• w*hkn on•swr I2) TOTAL NET ASSETS 272.1 FUNDS OF THE CHARirY Unrestricted GeThryral 14421 185. 34.433 178.689 TOTAL IUNO8 272.122 artin Hwhy Cha(rofTru8ieei GrtrIr8 mts8lTry 13 Jurn 2024
GREYFRIARS IISSIOMARY TRUST CHARiff REGISTIIATION NUMBER 270369 p86 NOTES TO THE ACCOUNTS 8TATEAEIIT OF ACCOUMTING POU¢IES The InancPdl stst8rnts ara lpAred in KtordaKo Wih Charths SORP IFRS 1021. Inccffle trom gms aThJ ¢knen8 * fxedittil ID revenw it is r&abIts. come trom m8jor "e5 is brw L•Jy tr •xwnts war trAble. and fijnd marwJ•rs. 7. THntytle ai••ts tog freth)kl 14 Stro•t Rwjvw.. Ij as 4M•t wrchaW M 31 OtL•mlJ8r 1998 kn £87.500 W8¥aj &) 2000#t f1fy).1. The TnJ81 doès h•¥e a orro¥&I1&yl. The 4t this histcl¥4U9kn wih'n the acojjnts. Th• rnvknwth• wcs•tyfc¢kndt•iw of yr. ffj the e¥•rrt w Imp•tsow# 4 ffied th• Tru8f8 I LEGACY FUND Th• Legxy FuTrl rwrthJ IwJ05 from th¢l•t• MrJ D Dann and MlÉts E J LI•rA?. In 1985 and 1W r86P8th8ty. In 19gB, th• Tn¥t Lwj ofthé L•qxy FLmd to wrchats• hrMJ88' 114 Sackv¥kn Str881l fvcth Grorn Jrth•rts rflh• Trust knrtyJOJ. L•qy Fund hr•a a Wrrt• £185.080 at 31 Dw•r202312022.. É178.0891. TN•¢tywkn•sE1ty).C&J whb * tho c•rtythq va*J• of14 S¥kvlh Str•ot4nd É8S.988 Id•l kn Pk•81. De81GNATED FUIID8 The charlty h# no w¢bwm9nll11. Th• twit•M rn•y ¢kn•t• c•rlth ILMW• or yclf6 2009 Trwt r•c•W i imt Df£100,1)JO Ircm Emmnwl As• Tr) 1) reknrNrwJ fthj ar•J th•m••Kw kn fv•ndaldMficuNkn. Th• gfftwaj to mak• i dhknrKe * r OV'. Tr tyuiiryw hD¥e b)8rnfvJr•dwWd a bJTrJ for rglthJ CHARrrABLE ACTIVITE8. GRANn AIID DONATIONS The maln purwB6 offv Truii to afvj (IBbTh fi•knwyifr4vJ thOurIg•1 ¢dGrWr• Chwth. R•Jlnp •nrt N6w Hopo Clx¥c, Réodlng. Th• IN•i•M MWI P•thB and do w fty F•rknd¥ ordhwrfty of yearn. whk can extertsj. Thrd nLg8nwats a ¢4nmltyhWI tylt4ty for th•Tnl th• 2022 Th• nwnt8 and p•ld in thH.' l••lon P•rtn•rn. R•e•hTkn¥ Pk)nq•rn I{udITa Pth•r#l 31,470 1S.735 21.oao 15,736 7.374 T,5115 7,51S 108,399 Over8eaa Ml86w)ntiry 10,118 11,915 fvurGh Sctknty CMRJHoiKEtsn Youth A Mkn#h IlJ20 320 101,077 5,000 700 OnOff gfft•lorBhortt•rni n•lDn 107.177 112,099 Fundlng of #YI• Fund Grf Resfrthd Gh1 107,177 111.099 107.177 112.C99 GOVER14ANCE COSTS A 188 oF£25012022.. £2MI li pwrt4&toth• ffdm¥ofth8arwwal reFtal1 XXOLm¥.
QREYFRi•A8 MI8SIOIIARY TRUST CIIARrrY REG18TRATION NUMBER 270189 NOTES TO THE ACCOUNTS FIXEDASSETS yed Jt£100.000 tya qualw h) 21X¥J. ThB r8Wn Itatth¥I0n afvj Mtto th• INVESTMENTJ ImfMtm•nts It MthtVth• 2022 Lwi t•nn Short t• Totsl Ewlii frjn UK 6x•J wuiitsvB UK BhJrtt8Th dè 2190 2.742 75.947 146,147 133.371 M•th•i v•lu• al Wknnlng of>•w Trnnsf8rs to vJrrnnl8cLr¥mt N•1 aln Marfc81 ¥8lu8 #t ¢md of 1J4in 152.820 110,0001 7,449 135371 11 Th•Tru$ fund mat)ager l.. CCLA Ihv#trrnt C8F Chwth (rf 146 135,371 8 DEBTORJ 2022 HMRC.Gm Rqc 2,89J 2.987 &108 • cREroA8 2022 200 200 10 RELATED PARTYTR4NSACTIOII8 Flra1&trU¥tIfySwve C(1x1 IPCCI rllknfkn CIV R•r4Jknq dwtr$ 2023. Th• 11 ¢OMWTMENT8 Trnasuror Grwfvrs Mhb•t4wryTNIt 13 June 21r44