Greyfrlars Mlsslonary Trust (Registered Charity No 270369 Annual Report and Financlal Statemonts Year ended 31 December 2024 'Yo set Readln8 tr4nsfornied by the love and Per ofjesus"
GREYFRIARS MISSIONARY TRUST CHARrrY REGISTRATION NUMBER 270369 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 CONTENTS page Report of the Trustees Independent Examinerfs Report ststement of Financial Activities Balance Sheet Notes to the Flnanclal Statements
GREYFRJARS MISSIONARY TRUST CHARITY REGISTRATION NUMBER 270369 Report of the Trustees 1. Establlshment and Purpose Greyfrlars MISSIOn Tru81 {Yhe Tru8f} was establlshed ty 8 Trust Deed dated 25th September 1975. The Trust'8 main purpose is the a(fvancemenl of relig by the prrnOtl and encouragement of Christian Missary work the Evan1(1 Chrislian tr•Jition. 2. Trustee• and Officers Dudng Ihe year, and In the p8rfod to the approvd of thls Rerrt the fdkhving 8erv&J as Trustws.. Marbn Haley, Chak an Cross {a8 Grer$ PCC representatlve) Cralg Hampton Sven Lewls trrga8ur8r) TnthY Seals (Resigned 11 May 2025) Revd DavKI Walker, WKar of Grayfriafs chch Rèading {until 31 July 20241 The number ofTruslees may not be fewer than four or mce than ylx. Two truste89 seN8 ex offlclo. on• as the Vlcar of Grayfriars Church Readlng and tho other as Gr8yfriars PCC preSentatIve. The apwlnlmenl and removal of Tnte86 who are not Truste08 ex offlclo v88ts In the astIng Trusl88S alone. Th• followng officèr 888i#tod th• TrU8t8.. 8•¢r•t•ry: nmothy n98¢kar 3. Addre$$ The prlncipal address of Ihè charity ii: Greyfriars Missionary Tnjst Greyfvi8rs Cèntr Frfar Street READING RG1 1 EH 4. Object and Maln Actlvlty and Plans for Futurn Porfods UrKler Its 9overnlng documen( the ol the TTUSI Is lo b8nefit Chrfstoan Mlsslonary work. To athleve this objectÉv8, Ihe main activity is to act a¥ a thannel for giving by members of Greymars Church, Reading and New Hope Church. Reading towards the sponsorydhip of Greyffiars. MSssion Partners and the support of mlOn Swetses in whith the churches have an interest. Tha Trust lulfils Its objective principally by making grants to other charitab16 b&Jios. In fvbjre period8. the Trust plans lo conlnué sponsoring Greyfriars, Mission PartneTr and Missn socie88 and dolng go In way$ Ih8t ect the Interests of the members of Greyfriars Crth aThJ Ntr Hope Church. 5. Flnances No part ofggneral giwng lo Greyfriar5 Church or Nth¥ Hope Churth goos to sw)port ts Mis$kin Partners. Those indlvkluals who wh8h to partipate in thefinancial supportof the Mission Parts)ors and th& Mi%sion SoGletloS SUPP(rted by th8 Tru81 gNe dir• to Gr6yfn'ars Missionary TTrL Trust incom6 for 2024 was £129.005. up 38.3% on income in 2023 of £93,256. principally duo to a large one-off gift in the cJr8e of the year. Page 1
GREfFRIARS MISSIONARY TRUST CHARrrY REGISTRATION NUMBER 270369 There were revaluation gwns of £1,989 on loterM financial invesbnents {2023.. £7,298 revaluation galn) (Note 7 ofthe FInancI Ststements}, whith were brollY nsIStenI with Ihe p8rformarKo of WKI inv8slm8nt mark8ts in 2024. The Trusys property at 14 Sackville Street continued to be rentsd out duriffj 2024, genèrating rental income of £14,55012023.' £14,060). Managem8ntoes. maintenance and otherexpendlturn amounted to £3.271 for 202412023: £3,638). 6. Mlssion Partners Th¢ Trust 8UPPOrted 14 M188k)n Partners 8rrMJ)d the workj In 2024 {2023: 14). Total grants payable to MSssion Partnors in 2024 decreased by £2.420 to £104.757 dut to a change wi fuThJing levels to two Partners in the year. £94,597 was paid to Mi85ion Partners in the year, vAth grants of a further £6,160 0rUed at 31 December 2024- these were paid in January 2025 (Note 4 ofthe Finanrial Ststemenlsl. The calllng ofeach ofthe MIon Partners 18 tested ty a pand of member¥ ofts Greyfvi$rs Ml88lonary Trust Tru8laos and a PCC repreoentsJv¢ béfore being acceptsd for 8UPWrt by the Tru8t. 7. Othor Grant• Grants of £3,000 were made to MissK)n &xieties in 2024 (2023: £1.000). In addition, g short-lerm mi3sion grant of £1,000 was made om the year {2023'. £2,600) (Note 4 of the Financial St8tements}. 8. Ro8orv•s Thè Trust# 8898 Iho adequaty of tho TN8f$ rwN88 at mé8tiNJ durfng the yaar {811088t three m8ellng8 8 year are held). In 888eS8lng Ihe reserves, adequacy the Trustees tako Bccount of.. xpected 18ve18 01 Income and budgel&J lovel8 of oxp8ndlbJro. IncIn9 commttments to Mlssion Partnérs. ovar thè short and longèr t8rn1.' Whèthor th4we ar• dafflclts that nood to be fundod c4Jt ol cash ovw th• mgdlum temi; and The neod to hold fvnds to moot unforo$0gn operaknnal costs. To thg extent the Trustee¥ assess SIgnifint •ccurnulalions of fund¥ W owrred giwng to MISon9 would be Incre88ed acojrdlngly. Tha Trust6 rog8rd the Logacy Fund 01 £187,977 (2023.. £185,988186 Iwtrtenn rgservgs, to bg reLglned to provld8 an Incl0 unlll such me as 11 Is roqulred ellher lo meet a Shortfall In ganeral donation$ rgcoived or to provkle lunds ft>r broadening thg scope of the Trusfs giviTrJ to missi$. 9. Publlc Bonefft The Tru8t8è8 have comr4ied with duty {86t out in Sticlion 4 of thè Charib66 Act 20111 to have du regard to public n&t guidanco publish¢d by Iho Charity Commission. Tho Trust$ consider that public benefit is Prov by the frxus of the grants on education and trning, relief of poverty. sports and recrealon, consepmtlon and communKy deveiowmrt together wlth rdlglou8 8thtt188. 10. Risk Asseument The Trust 6xl8ts to mak6 grants to mlssbnarfes and mlssk)n etIeS whkh Greyfrl8rs Church and New Hopa Church wish to supprMI finarkcially. The major sour(% of Income to the Trust Is gffts. chl8fly from members of Greyfriars Churth and New HoFe Churth. past and prgsenL Thg Trustggs consider that the greatest risk to the TrusY$ ability to ntinue its activities is that gNing to the Trust ts)uld diminish. Were InMe to decrease subslantialty. the Trustwould have lo reduce the level andlor scope of grants. HcN4ever. this risk is mib* at the wesent b'me by the availability of reserves. Page 2
GRVIFRIAR8 M18810NARY TRU8T CHARITY REGISTrATION NUMBER 270369 Regarding thè risk of bsses arising from disFK>nesl aeS or negligence on the part of officers OT Trustsas. the Trust8es consid8r that ternal ch8L wo(xlur8s already in plac8 provide r6asonab16 assurance. 11. Preparatlon of Accounts The accounts lfin8ncial ststsm8nts) have been prepared in accordance with the Finaricial Reporting Stsndard appM&gble In the Untted Klngdom and RepubliG of Ireland {FRS 1021, the Statemerrt of Recommended PracUce: Acnting and Rewting by Charitios preparing their accounts in accordance with thg Financial ROrtY1g Standard appltiblè in th8 UK and Republic of Ireland IFRS 1021, arKI tho Charities Act 2011. This Report has beon 8pprov•d by tl Trusts&s. Slgne 2025 Martin Haley Chair of the Trusleeo Page 3
Indgp•nd•nt Examln•V• R•port to th• Tnmlw• of ¢¥eyfkn MIs•lon 7nt y•arwyJod 31 Decembw20 whkth 4•t pw S to 7. R8•pIbIlItI• and bMl• of r•p¢xl rwulr•m6nts ofthe Charfuety Act 2011 . I m¥tormY •¥andnalJcn 11) TrLMV8 ar4>yJrt• ¢d IwHlw 8•ckn 14S of th• 2011 Ctrty CoThThl981on LNKlgr 145(5Xb} alt p wthl¢h ett&nUon •t•>Jfd t• drvn In th rit kn ryd•rtrJ wbl• a wJpw wtar1[a ofth• Rathel B814haw HI Top Acg>JnlNJ LJ Chwth iw•. Lhkn Nwbrt Readtr RG7 4HQ
GREYFRW MISSIONARYTRUST STATEMENT OF FIFIANCIAL ACTlvmESforth• >r•rMlvd 31 D•£•rnI 2024 CHARITY REGISTRATION NUMBER 270369 Pago 5 2023 Utvwtrlthd Dwlgmtsd T1 INCO¥INa RE8OURCE8 Vdunlzry Incc¢n• Ghl tinaiion• Non4ft Aky dwaUon6 Donaiv)ns Ihrtyjllh CAF & Ino)m• Tax RKl•inatd• 46,033 •.$57 S.314 19.123 557 &314 19.623 11.403 101320 5307 14.JJO 1977 I,220 5.207 73.576 N6t In¥eslm8nl Incomo Inm$ frc¥n wial 14.080 121,977 RF8OURCE8 ÉXPÉMDEO Ch•rtioble Gmnts affj d•n•ikn Rwtsl prrytyi 11H7STI lJ3711 174 11112021 1104.7STJ 133711 1107,17TI i&e381 1,102 1110302) 280 1112,1671 1111A52) 1110M021 •Tr•11•¢1tI b•lorn n•t r•lurni N•t mov•m•rt an IntM•kn•nt luId01b• N•t su lu D•fiGIt from on advlll 1,989 20.L114 7.298 11,813 RECONCIUATION OF FUI4)S Totol fundi b hl foThY•rd T•tsl lund• Mvrf•d f•At4rd 280,509 272,122 2eo.809 BALAN¢E $HeET u •1 $1 o•c•M 2024 24 NON4IJRAEpn A8sm TaW1b Inv•Blm8n¢• Totsl fix•d loo.000 •7,977 lfr).CbJO 85,988 185,988 CURREIIT ASSETS Inv•8im•nla 177 7,011 Cath at bank •nd h hd Tatsl ¢uTh•nt a•••l• 9.310 74.7TI Lu£s.. AmouTrtshlllbW du•TNlthln y••r 12801 TOTAL NET AS$ET8 28lm2 PU14DS OF THE CHARIYY Unraltricted Gw•r¥l Fu Vnresirkted Lty•¢y Fu OeJ&naW 1S.621 185.98B 187.977 TOTAL FLINDS Mthn Httkny ChalrolTn#i••s. Gr•yfrkn MWJwTn*t
GREYFRLARS IASSIONARYTRUST CHARifYREQI8TRATIOII NUMBER 270389 Pago 6 NOTES TO THE ACCOUNTS STATeMENT OF ACCOUNntr4G PCLKI Und•rtho GlA PTvknkJn& aBa rngbknrnd dwityth?Trt tri rwJw"m lox r•tth ¢Ain•lbn•. Irom8 tsxred@im$ are u0d1 to te• In thè samv p8r¥yJ astho dDrthts •v rnC4>¥. lftt•&t #nd dand Invoslmts IB xl4J kn tho F. and fund man8g8V8. Tan• fts•d a8Mt% rel10 • fr••lkill prrywty, 14 S•thvWo5tr0•1 Fl••thw, tt IS •furdon81 ftyd8M•t. 11 w88 31 DoC•Mr 199B forE67.5C¥) 2) •t£1CO,CO0. Tho Twst does not ho¥e a ol U•l)n. Thè prcwtykn th8r8kno h•ld at th&% htorkl Within the rKKwnts. Th• trJ%t••8 r•Yk•W th• yowtyfor knthckn sw.kn hirf•rtan &l•nUfi•d Ih• TnA wrfla th•assth L213A¢Y FUND Th• Legw Fund rqprg8ontsthD from from IM l&ts KtrJ D Dinn M1 E J Lwr¥n¢•, In 1985 and iwde r••p•¢thty. In 1998. th• TnJ¥t w•d ol iho Logxy Fund to wrth•80 th& Th• Lqw h•d a bjlw G4e187.077 4131 DnbIr2D21(2OZa.. t1,9801. Él1.0[$th kn Ih• DE•IGNATED FiIND8 Th• ¢h¥Ky h•• rn•rO>wm•ntfimth. Th• INlt••¥ m•y d•wgnts c•l•kn Ir•thrI pxpa•M. Duty 2trJg th• TnJ mc4¥8d a Wftort1(#J.000 Emm•nu•l AldI lo h• tho#• rI frL¥n th• fi•kJ th¥9•• (IhllpAJltyM. Tho ghl vns to rn8k• 8 ¢jfferen to Ihotr tr1008 hoYètrr•kn• datthX th¢tth •• • fvnd tr r•tirf HARITABLE ACTIVTfiE8.QRANT8 AND IK•MATIONS Yh• main purpo6• olth• to Ind IMM ¢by¥r•9th1 olfyWA•rn CAwrth, R••¥lrHJ Ind N•w Hcp• Chur¢h, R8gdlrvJ. The truth4 I[¢t p•i8rn mltsthrt •JandM and lor wlcpji ¢1 2024 2023 Thw armurts approvgd Ard W In >wr ww•Mknl'. MIMfjr•n P4Fln•rn. RK•Mng mIMi 4• Pionowl Ilndudlng Aclbn Porknw•l ChrfknnABwdal88 Int•malbJn•l Icunmunlm Inn 18.916 16.916 12.320 12.320 103.877 1&•15 9240 CMWHorkni Y¢th WKh A MIMkn •(Y17 Ml••lon Sod•¢l•¥ Totsi Id ITh 91.$•7 107,177 Fvndlng of ql Gen8rn1 Fund Gfft8 RaslriLled Fund GThl 107,177 Total Ift¥ Id I 107,177
CHARITY REWRATION NUMBER 2701 Pap7 NOTES TO THE ACCOUNTS & GOVEAPIANCE COSTS Afee of£25012023.' £2501 * paet0 the EyAmkwlcff I1 Llh8 rw The ¢th1 ha3 no empkn>•s. The choiity rd run lebY¥d1teern in IheYrDlsJ aj TpJ5lJ. Sx¥aryard r¥JMofth• FIXED ASSETS Th8 0n1ytatydib 88a8t pvryrty. 14 Sthlkn Sire6t Ro•thNJ." it Is hJ 888 fix8d as ftwai at£100.C¢)O bya 2rN)). Trtru5t. Is k) atIw¥u8w[ffi notto rwaluo th• prowty amualty. Tho triJJiMs ro¥th¥ th• prwrtyftyknJK4tKffisdknpwnxrt iho e¥•nt an ImFalrnent •IVE8YMENT8 InvMtrn•nt• at Ilwk•tVdu• 20YJ 19•2 1912 2,896 83,093 UK fixod k)t•r8st UK Ahort t•rTh d• 177 104 ai btylnnlng af Trnn8fer• ¢urr•nt acert InvOnI Incomo Nel ein $808 on r8V8lugLk M•rk•t ¥•lu• t•nd of 4491• J• 110.00(+I 14V47 135,371 4,177 T,208 116.847 10.1n 144154 Tho Trv$V$ luThl manag•r . CCLA Irh•trrt 17T DEBTORS 24 HMRC.IM Akl R•¢4¥ 2.414 2.188 • CAEDlfOR8 2024 2023 10 OA10 260 250 In Jamary 2025. 10 LAYED PAATY TRAiiu¢noiis maklw rela180 to tho grnnL w81 wo¥•J uui18. 11 ¢O¥MITIIITS Syen Lthy Treasurqr