GRACE CHARITY
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
REGISTERED CHARITY No. 284216
BDB PITMANS
Reglltered Offlce
One Barth01c￿e￿ Ck)se
London
EC1A 7BL
DX 339401 London W811
Soffjo Station Road
The Anchor896
34 Bridge sireet
CB1 2JH
Reading, RG1 2LU
DX 339601 Catnbndge 24 DX 146420 ReaJiw 21
4 Grosvenor Square
Gtosvenor Square
Souihamplon. $015 2BE
DX 38518 SOu￿3Mplo￿ 3
T +44 {01345 222 9222
￿wb￿ bdbpilm¥ns com

GRACE CHARITY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
CONTENTS
Page
REPORT OF THE TRUSTEES
REPORT OFTHE INDEPENDENT EXAMINER
STATEMENT OF FINANCIAL ACTIVITIES
BALANCE SHEET
NOTES TO THE FINANC1AL STATEMENTS

GRACE CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2024
The TfU5tee5 are pleased to present their annual trustees, report together with the financial stalements ol the
Charity lor the year ended 5 April 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Full name." Gi8ce Charity
Règistered Charity number. 284216
Principal address".
BDB Pitmans LLP
One Bartholomew C105e. L[￿On
EC1A7BL
Trustees..
F Appelbe
Mrs V Thornas
Or L Hobby
A Appelbe
Mr W Thomas lapwinted 21 February 20231
Independent Exatniner.
Hamish Frost
(he B8rtholornew C105e, London
EC1A78L
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
The Charity Is controlled by its goveming docurnenl, a deed ol trust dated 17 March 1969. and constitutes
an unincorporated charity.
Appointment of Trustees and Trustèe induction and training
Trustees are appointed by deed. New trustees are biiefed ￿ their legal obligatrons undei tharity law. t
Chanty Comm15SIOn guidancE on public benefit, Informed of the contents of the deed, deusion-making
proTrsses and ￿￿rnt financial perfortnan¢e of the charity. Before taking on the role they meet key advisors
and other trustees. Trusteès a￿ encouraged to attend appropriate e*ternal training event5 there these wll
f&ilrtale the undertaking ol their role
Risk Management
The Trustees recognise that they have a duty to Identify and review risks to which the Charity 15 exFK)sed
and to ensuie appropriate controls ale in place to provide reasonable assuran￿ against fraud and error.
The Trustees have conSide￿d the rnain a188s of nsk and are of the opinion that the Charity has the
iesources that, under normal conditions would allow these nsks to be rnitigated to an acceptable level In its
day-to4ay operab"ons.
OBJECTIVES AND ACTIVITIES
The Chaiity was created by deed of trust dated 25 January 1982 and exist5 to benefit such legally
ch8ritable objects as the Trustees at their discietion select.
The Trustees (x)nsider ap￿iC3￿"9ns for grant5 at meetings and generally throughout the year.
Page 1

GRACE CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED S APRIL 2024 Icont.)
Public Benefit Statement
The Trustees have ￿ferred to the guidance contained in the Charity Cotnmis5ion's general guidance on
put)lic benefit when reviewing the Trust's aims and objectives and in planning futu￿ adivities and
deciding on the grants for the yeai. The Charity's objects are ltsr the public benefit Those objects are
achieved by virtue of Ihe grants made by the Trustees to Charities in Enoland and Wales an¢J to
Individuals to assist wth their education.
ACHIEVEMENTS AND pERFoR￿NcE
The Trustees met In person and virtually, lon various occasions) to consider the charity's activities and
aehievefflents during the year. The charitatle donatlOn5 were agreed. 13 grants We￿ made dunng the
year I2￿23. 15 giants paid). ranging from £500 to £5,0￿ and the tot81 is shown in note 2 to these
accounts.
Th8 Charity continues to support educational Init18tive, Ocean Ambassadors10A1.
Ocean Ambas5adDrs was created lo support lectures to students. some ol which may be filtned for lutuie
use. Assist8nce is 8150 given to unit￿ World Colleges. Initi3lly vi8 Atlantic col￿ge. in creatson ol a new
internaty'onal baccalaureate ￿ntred UFK)n marine environments.
TIE TrLBtees have agreed to set aside approximately £12,000 per annum to support the trainin9 8nd
lectures and also student prizes. In the first Iwo years there were some additsonal costs lor the
promoth)n of OA'S educational Initiative. Dunng this year the￿ were no cost5 atttitxrted to OA.
The Trustees continue lo review OA annually and report on any changes to the Initiatwe and a150 the
creation of student prizes as they arise
The Trust FufKls were held in investments and cash Income for the ye8r. in the fomi ol dividends
amounted to £41,797 12023 £40.2831. The market value ol the Investments at the date of the Balance
Sheet was £720,649 12023. £726,449) The Trustees Saw a decrease over the year in value ol the
portfolio and remain cautious about future investment They are awaie of the economic crisis and the
war in Ukraine and the ongoing ImpaLI these could have on the investments and their values and the
Income arising frorn those investrnents They a￿ Invested for the long term
FINANCIAL REVIEW
Charitable Expenditure
The 2024 gr8nls lot8lled £19,01312023'. £20.7501. of tmese £012023 £0) rel8t8d to OA.
Other Expenditure
Expenditure relating to the management, administration and govemance of tre Charity, amounted to
£5,52412023" £3,910), less than 1Yo of the value of the Charity at S Apnl 2024
Page 2

GRACE CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2024 IconLI
Investment Pollcy and Performan¢e
The Trustees have an investment portfolio with M&G compiising shares ln their Steiling Charifund. ￿th units
held In both their Incorne and Accumulatson FLJnds The investment In th15 fund offers the Trustees the right tnix
of capital growLh and Income to rneet their pdicy and Is actively managed by M&G direct The Trustees monitor
the perfomianc8 at their meetings and when the quarterly reports are receiv8d
The investment portfolio Showed an deuease in rnarket value over the period. Nmth unrealised losses of £43,937
12023. unrealised loss of £43,937). There were no realised gains or Iosses12023'. none)
Reserves Pollcy and golng concern
The Trustees only use income arising dLJrirvJ each year for grants 8nd do not spend more than their annu81
income each year.lt Is not envisaged that the￿ wll be future commitments that exwd future Income on an
annual basis thereft>ie the trustees are happy wth the cuiient reseNe level. The Trust￿$ are of the view that
the Trust Is a going concem
Exemptlons from Disclosure
There are no exemptions from disdosure.
Law applicable to chanties in Eroland & Wales ￿qUIreS the Trustees to prepare financial 5talernents for eath
financial year thich give a true and fair view of the Chaiity's finanual activities during the year and of its
financial position at the end ol the year In piep8ring financial statement5 g1ving a true and fair view, the
Trustees should follow best pr8otiTr and..
select suitable accounting po1icie5 and then apply them consistently.,
make judgemenis and estirnates that a￿ reasonable and prudent.,
State whether applicable accounting 5tsndards ancj statements of recomrnen(led
practi￿ have been frJloV￿d, subjed to any departures disclosed and explained in the
financial statements and-.
prepare the financial statements on the going Gon￿rn basis unless it is inappropri8le to
presume that the charity wll continue in operation.
The Trustees are respDnsib1e for keep'ng accountiro ￿CordS which disclose Mith reasonable 8ccuracy the
financial position ol the charity and which enable them to ensure that the financial statements compty wth
applicable law and regulatio￿. They are also responsible for safeguarding the assets of the Charity and hence
for taking reasonable steps foi the prevention and detedion of traud and other irregularities
Signed on behalf of the trust￿..
Date:
I/L4
Page 3

GRACE CHARITY
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES
IN RESPECT OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 5 APRIL 2024
I report to the Trustees on my examination of the accounts of the Grace Charity for the year ended 5 April 2024.
which are set out on pages 5 to 9.
Responsibilities and basis of report
As the Charity trustees ol the Trust you afe responsible for the preparation of tre accounts in accordance wth the
requirements ol the Charities Ad 2011 I'the Act'l.
I r8port in respect of my examination of the Trusfs accounts carried out undei section 145 of the 2011 Act and in
carying out my examinats.on I have followed all the applicable Directions given by the Charity Commission under
Section 145151 Ibl of the Act.
Independent examinerfs statement
I have completed my examination. I confirm Ih8t no material matters have come to my attention in ctsnnection with
the exarnination giving me cause to believe thal in any matefial respect".
ccounting records were not kept in Tespecl of the Trust as requiied by section 130 of Ihe Act.. 01
the accounts do not accord with those re¢oids.' or
the accounts do not comply wlth the applicable requirement5 concerning Ihe fomi and content of the
accounts set out in the charit￿s IAccounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fair vlew lthieh is nol a rnattef considered as part ol an independent
examination.
I have no concerns and h8ve Gome 8cr055 no other matters in connection with the examination to which attentM)n
should
drawn in this report in order lo enable a proper understanding of the accounls to be reached.
Julia Strike
One 8artholomew Close
London
EC1A 78L
Date..
/6./.2
Page 4

GRACE CHARITY
STATEMENT OF FINANCIAL ACTIWTIES FOR THE YEAR ENDED S APRIL 2024
Unrestrlcted
Fund
2024
Total
2023
Notes
INCOME & EXPENDITURE
Ineoffle and endowments from..
Investfflents
41.797.08
40.283
Total ineome and endowments
41,797.08
40.283
Expenditure on..
Charitable expendlture
Grants
Support costs
19,013.00
5,524.00
20.750
3.910
Total expendlture
24,537.00
24.660
NET INCOMEIEXPENDITURE
17,Xi.08
15,623
Net gainslllosses) on investments
18.658.29
143.9371
Net Ineomellgxpendlturel
8,601.79
128.3141
Reconciliation of Funds
Fund balan￿S brought forward
750,119.42
778,433
Total funds carried forward at S Aprll 2024
758,721.21
750.119
P4e5

GRACE CHARITY
8ALANCE SHEET AS AT 5 APRIL 2024
Notes
2024
2023
Flxefl Asset8
Investments
720,649.04
726.449
Current Awts
Cash
39,602.17
23.670
Les¥'. Current LlabiSities
Amounts falling due withln ont year
Grants payable
BDB Pitmans LLP
1,530.00
1,530.00
Net Current Assets
38,072.17
23,670
Assets
758,721.21
750.119
Funds
Unrestricted funds
758,721.21
750.119
The financial statements weie 8ppioved by the Trustees and were signed on their behalf by..
F Appelbe - Trustee
Date".
Page

GRACE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THEYEAR ENDED 5 APRIL 2024
1. Accounting Polleies
Basis of accountin
Tre financial statements have been prepared under the historical cost convention, wth the exception
that inveslments are shown at market value as at the balance sheet date and are in accordance with
the Staternenl ol Recommended Piactice.. Accounting and Reporting by Ch8rities preparing their
accounts in accordan￿ wth the F¢nancial Reporting Standaid applicable in the UK and Republic of
Ireland {FRS 1021 (effective, 1 January 20151 and the Charities Act 2011. The Chaiity constitutes 8
public benefit entty as defined by FRS 102. Having assessed the Charity's financial position and
plans for the foreseeable futU18. the Trustees are satisfied that it rernains appropriate to prepare the
financial statetnents on a going conTrrn basis. whe￿ necessary estimates and judgements arè
based on historical experience and other factors.
Ex
enditure
A liability and related expenditure is recognise(5 when there 15 a legal or constructive obligation at the
balan￿ sheet date as a result of 8 past event, that it is likety to be settled and thal il can be measured
liably.
The Unrestricted Fund oornprises those funds which the Trust888 are free lo use in accordance w%th
the charitsble objects.
Charitable Grants
Grants are recognised when the Trustees have made a decision to make a payment and Ihat decision
had been cotnmunipJted to the recipienl and il is probable that payrnent will lake place. However, the
recognition of any liability will be dependent on any corKlitions atiaching to the commitment
Investments
Investments are stated al market value as at 5 April 2023. Investrnent gains and knsses are disclosed
in the Statement of Financial Activrties.
Investmenl Income and Bank Interest
Investment income and tax recoverable a￿ accounted for on 8 receivable ba81S.
2. Charitable Expendlture
2024
2023
Grants made durin9 the ye8r tOtal￿d..
19,013.00
20,750
Support costs
Metro Bank charges
Legal & Professional
VAT (non recoverable)
40.00
4,570.00
914.00
5,524.00
10
3,250
650
3.910
24.537.00
24,660
Pa9e 7

GRACE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024 Icont.)
3. Investments
Movements on quoted investments were 85 follows..
2024
2023
Market value brought forward
Add.. acquisitions at cost
728,448.75
2,858.58
767,909
2.477
729,307.33
770,386
Net gainlllos81 on revaluation
18,658.291
143,9371
Market value al year end
720.649.04
726,449
Historical c05t value at year end
532.939.58
530.081
All investments are sltuated in the UK and listed on a recognised stock exchange.
Investments which represent 5Yo or Tnore of the total ptsrtfolio are considered by the tru51ee8 to be material
8re'.
2024
92.360A
7.64%
2023
92.78%
7.22Vo
M & G Charifvn¢J- Incorne Units
M & G Chaiifund- Accum Units
4. Investmont income
2024
2023
1ncome from UK investments
41,797.08
43,937
5. Movèment in Funds
2024
2023
Unrestrieted Funds
General fund
Fund value brought forwarr5
Add..
Net movement in funds
778.433.16
778.433
8,601.79
128.3141
Fund value at year &nd
787,034.95
750,119
Net movernent in luTrd5 labovel, anses as follows..
2024
2023
Unrestricted Funds
General fund
Incoming
Gains and losses
41,797.08
8,658.29
33,138.79
40.283
43,937
13,6541
Less." Expendrture
24,537.00
8,601.79
24.660
128,3141
Page 8

GRACE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO S APRIL 2024 Icont.I
6. Trnstees. Remunèwation and Expense
None ol the Trustees have been paid any remuneration or received any other benefits from an
employment with their charity or a ￿Lated entity, no trustee expenses have been Incurred nor have there
been any related party transactions in the reporting period that require disc105ure. 12023 also £0 in all
cases). Independent examination lees are charged but they are part of 8DB Pitmans LLP'5 general
expenses. The functions are carried separately within BDB Pitmans LLP.
7. Ernployees
The Tiusl doe5 not have any employees12023 ." None).
Page 9