GRACE CHARITY
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
REGISTERED CHARITY No. 284216
BDB PITMANS
One BarthDlomew Close
Londun
ECIA 7BL
DX 339401 Lwdon Wall
50160 siation fload
Anchwage
Cambridge
34 Bridge SlreEI
CBI 2JFt
Reading. RGI 2LU
DX 339601 Cambridoe 24 DX 146420 Readin9 21
Grosvenor House
GrD5vÈnor Souare
Souihafnpton. SO15 28E
OX 38516 SoulhamptDn 3
T *44 101345 222 9222
wwwwbdbpitrnans.com

GRACE CHARITY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
CONTENTS
Page
REPORT OF THE TRUSTEES
14
REPORT OF THE INDEPENDENT EKAMINER
STATEMENT OF FINANCIAL ACTWITIES
BALANCE SHEET
NOTES TO THE FINANCIAL STATEMENTS
74

GRACE CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2021
The Trustees are pleased lo present their annual Iruslees, report together with the financial slalemenls of the
Charity for the year ended S April 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Full n8me.' Grace Charty
Registered Charity number. 284216
Princip81 address".
BDB Pitmans LLP
One Barthobmew Ck)se, London
EC4A 7BL
Trustees..
F Appelbe
Mrs VThomas
Dr L Hobby
A Appelbe
Independent Examiner
Julia Strike TEP
One Bartholomew Ckjse. London
EC4A 7BL
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by ils governing dccumenl. a deed of trust dated 17 March 1969. and conslilules
an unincorporated Charity.
Appolntment of Trustees and Trustee induction and training
Trustees are appointed by deed. New Iruslees are briefed on their legal obligations under chaiity law, the
Charity Commission guidance on public benefit, infomed of the contents of the deed, decision-making
processes and recent financial performance of the charty. Befo￿ taking on the role they meet key advisors
and other Iruslees. Trustees are encouraged to attend appropriate exlernal training events where these will
facililale the undertaking of their role.
Risk Management
The Trustees recognise that they have a duty lo identify and review risks lo which the Charity is exposed
and lo ensure appropriate controls are in place lo promde reasonable assurance against fraud and error.
The Trustees have considered the main areas of iisk and are of the opinion that the Charity has the
resovrces that, under noimal conditions would allow these risks lo be mrtigated lo an acceptable level in ils
day-1041ay operations.
08JECTIVES AND ACTIVITIES
The Charity was created by deed of trust dated 17 March 1%9 and exists lo benefrt such legally charitable
obiects as the Trustees at their discretion select.
The Trustees consider applications for granls al meetings throughout the year.
Page 1

GRACE CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2021 {¢ont.)
Public Benefit Statement
The Trustees have referred lo the guidance contained in the Charity Commission's general guidance on
public benefit when reviewing the Trust's aims and objectives and in planning future activities and
deciding on the grants for the year. The Charity's objects are for the public benefit. Those objects are
achieved by virtue of the grants made by the Trustees lo Charities in England and Wales and lo
individuals lo assist with their education.
ACHIEVEMENTS AND PERFORMANCE
Because of the pandemic. the Trustees dbj meet in person but virtually, on various occasions lo
consider the charitys activities and achievements during the year. The char(table donations were agreed.
27 giants were made during the year12020'. 23 grants paid). ranging from £150 10 £5.000 and the lolal is
shown in note 2 to these accounts.
The Charity has sel up a new educalronal initalive. Ocean Ambassdors 10A1. The Trustees have
received legal advice from BDB Pitmans on this ini(ialive. They have adwsed that OA can be a sub-fund
of the Charity.
OA was created lo support lectures of studenls, some of which may be filmed for future use. Assistance
is also given to Unile(I World Colleges. initially via Atlant￿ College. in creation of a new international
baccalaureate cenlred upon marine environments.
The Trustees have agreed lo set aside approximately £12.000 per annum to support the training and
lectures and also sludenl prizes. In the first fv•o years there will be some additional costs for the
promotion of OA'S educational inilialive.
The Trustees wll review OA annually and report on any changes lo Ihe ini(ialive and also the creation of
student prEes as they arise.
The TNSI Funds were held in investments arKI cash. Income for the year. in the foTm of dividends
amounted lo £31.149.00 {2020". £40,245). The market value of the investments al the date of the
Balance Sheet was £713,214.64 {2020.. £554.769}. The Trustees were pleased lo S￿ the increase in
value of the portfolio following the fall in value in 2020. The Tmslees a￿ aware of the impact the Covid
19 Pandemic had on the investments and their values in 2020 and the income arising from the
investments held loo. The Charity is invested for the long letm arnl the Iruslees will continue lo monitor
the investments and their performance.
FINANCIAL REVIEW
Charitable Expenditure
The 2020 grants lotalled £39.69112020'. £25.873). of these £10.941.0012020= £4.5231 related lo OA.
Other Expenditure
Expenditure relating lo the management, adminislralion and governance of the Charrty, amounted lo
£4,02012020.. £3.154}, less than 10A of the value of the Charity al 5 April 2021.
Page 2

GRACE CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2021 (cont.}
Investment Policy and Perforniance
The Trustees have an investment portfolio wth M&G comprising shares in their Sterling Charifund, with units
held in both their Income and Accumulation Funds. The investment in this fund offers the Trustees the right mix
of capital growth and income lo meet their poltcy arKI is aclivety managed by M&G direct. The Trustees monitor
the perfomance al their meetings and when the quarterty reports are received.
The investment portfolio showed an increase in market value over the period. wth unrealised gains of
£156,500.05 {2020'. unrealised losses of £202.6411. There were no realised gains12020". nil}.
Reserves Policy and going concern
The Trustees only use income arising dunng each year for grants and do not spend more than their annual
income each year.11 is not envisage(S that there will be future commitments that exceed future income on an
annual basis therefore the ITuslees are happy with the current reseNe level. The Trustees are ol the view that
the Trust is a going concem.
Exemptlons from Disclosure
There are no exemptions from disclosure_
Law applicable to chari(ies in England & Wales requires the Trustees to prepare financial slalemenls for each
financial year which give a true and fair view of the Chariws financial activities during the year and of ils financial
position al the end of the year. In preparing financial stalements giving a true and fail view. the Trustees should
follow best practice and..
select suitable ¥counling policies and then apply them consislenlly..
make judgemen15 and eslimales that are reasonable and prudent",
slate whether appI￿able accounting standards and statements of recommended
practice have been followed. subject lo any departures disclosed and explained in the
financial statements and",
prepare the financial slalemenls on the going concem basis unless (( is inappropriate to
presume that the charity will ¢ontinue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the
financial position of the charity and which enable them to ensure that the financial $18lemenls comply with
applicable law and regulations. They a￿ also responsib￿ for safeguarding the assets of the Charity and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Sign8d on behalf of the trustees:
Date-
1510712021
Page 3

GRACE CHARITY
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES
IN RESPECT OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2021
I report lo the Trustees on my examination of the accounts of the Grace Charity for the year ended 5 April 2021
which are sel out on pages S 10 9.
Responsibilities and basls of report
As the charily trustees of the Trust YOLF are responsible for the preparalKJn of the accounts in accordance with the
requirements of the Charities Act 2011 I'lhe Act')-
I report in respect of my examination of the Ttusfs accounts carried out under section 145 of the 2011 Act and in
carrying out my examination I have followed all the applicable th"reclions gwen by the Charity Commission under
section 145 (51 Ibl of the Act
Independent examlner's statement
I have completed my examination. I confim) thal no material matters have come lo my attention in connection swlh
the examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the Trust as required by section 130 of the Act." or
the accounts do not accord wlh those records,. or
the accounts do nol cornp￿ with the applicable requiremenls concerning the form and content of the
accounts sel out in the Charities {Accounls and Reports) Regulations 2008 other than any requirement
that the accounts give a'true and fairf view which is not a matter considered as part of an independent
examination.
I have no cOn￿rn5 and have come across no olher matter5 in connection wrth the examination lo which attention
should be drawn in this report in order lo enable a proper underslanding of the accounts to be reached.
Julia Strike TEP
One Bartholomew Close
London
EC4A 7BL
Date. 1510712021
Page 4

GRACE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2021
Unrestricted
Fund
2021
Total
2020
Notes
INCOME & EXPENDITURE
Income and endowments from:
Investments
31.149.30
40,245
Donalk?ns feeeived
166.80
Total Income and endowments
31.316.10
40,329
Expenditure on:
Charitable expenditure
Grants
Support costs
39,691.00
4.020.00
25,873
3,154
Total expendlture
43,711.00
29,027
Nel gainsl{losses} on investments
156,500.05
1202,641}
Net incomel{expenditurel
144,105.15
1191,3391
Reconciliation of Funds
Fund balances brought fo¢ward
574,081.29
765,421
Total funds carried forward at S April 2021
£ 718,186.44
£ 574.082
Page 5

GRACE CHARITY
BALANCE SHEET AS AT 5 APRIL 2021
Notes
2021
2020
Fixed Assets
Investments
713.214.64
554,769
Current Assets
Cash
10.449.80
20,123
Less- Current Liabilities
Amounts falling due withln one year
Grants payable
BDB Pilmans LLP
5,250.00
228.00
5.478.00
810
810
Net Current Assets
4,971.80
19,313
Net Assets
£ 718,186.44
£ 574,082
Funds
Unrestricted funds
£718.186.44
£ 574,082
The financial slalements were approved by Ihe Ttustees and were signed on their behalf by..
F Appelbe- Truslee
Dale..
Page 6

GRACE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
1. Accounting Policies
Basis of accountin
The financial statements have been prepared under the historical c05t convention, wf(h the exception
that investments are shown at market value as al the balance sheet date and are in accordance with
the Statement of Re￿rnMended Practice. Accounting and Reporting by Chari(ies preparing their
accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 leffeclive, 1 January 20151 and the Charities Act 2011. The Charity conslilutes a
public benefit enlily as defined by FRS 102. Having assessed the Charitls financial position and
plans for the forseeable future. the Trustees are satisfied that il remains appropriate to prepare the
financial slalemenls on a going concem basis. Where necessary eslimales and judgements are
based on historical experience and other factors.
endilure
A li8bilily and related expendrture is recognised when theie is a legal or constructive obligation at the
balance sheet date as a result of a past event. that li is likety lo be settied and that il can be
measured reliably.
Funds
The Unreslricled Fund comprises those funds which the Trusl*s are free lo use in aceordan¢e with
the charitable objects.
Charitable Grants
Grants are recognised when the Trustees have made a decision lo make a payment and that
decision had been communicated lo the recipient and it is probable that payment will take place.
However, the recognition of any liability will be dependent on any conditions attaching to the
Investment5
Investmen15 are slated at market value as al 5 April 2021. Investment gains and losses are disclosed
in the Statement of Financial Activities.
Investment Income and Bank Interest
Investment income and lax recoverable are xeounted for on a reeewable basis.
2. Charitable Expenditure
2021
2020
Grants made during the year total￿1..
39.691.00
25,873
Support costs
Metro Bank charge
Legal & Professional
VAT (non recoverable)
10
2,620
524
3.154
3.350.00
670.00
4,020.00
£ 43,711.00
£ 29.027
Page 7

GRACE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021 Icont.)
3. Investments
Movements on quoted inveslmenls were as folbws..
2021
2020
Market value brought fowafd
Add.. acquisitions al cost
554,769.17
1.945.42
754,972
2.438
556,714.59
757,410
Nel gainlllossl on revaluation
156,500.05
1202.6411
Market value al year end
È 713,214.64
£ 554,769
Historical cost value at year end
£ 525,506
£ 523,%0
All investments are situated in the UK and listed on a recognised st￿k exchange.
Investments which represent 5% or more of the lolal portfolio are considered by the Iruslees lo be
material are..
2021
93.45%
6.55%
2020
93.68%
6.32%
M & G Charifund - Income Unrts
M & G Charifund - Accum Units
4. Investment income
2021
2020
Income from UK investments
£ 31.149.30
£ 40,245
5. Movement in Funds
2021
2020
Unrestrlcted Funds
General fund
Fund value brought forward
Add..
Nel movement in funds
574,081.29
765.421
144,105.15
(191.3391
Fund value at year end
£ 718,186.44
£ 574,082
Net movement in funds labovel. arises as follows"
Movement in
funds
2020
Unrestrlcted Funds
General fund
Incoming
Gains and bsses
31.316.10
156,$00.05
187,816.15
40.328
2D2,641
1162,3131
Less-. Expenditure
43,711.00
£ 144,105.15
29,027
£(191.3401
Page 8

GRACE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2021 Icont.)
6. Trustees. Remuneration and Expenses
None of the Trustees have been paid any remunerat￿￿ or received any other benefits from an employment
with their charty or a related entty, no trustee expenses have been incurred nor have there been any
related party Iransa¢lions in the reporting period that require disclosure. {2020 also £0 in all cases)-
Independent examination fees are charged but they are part of BDB Pilmans LLP'S general expenses. The
functions are carried out separately wthin BDB Pitmans LLP.
7. Employees
The Trust does not have any employees.
Page 9