GRACE CHARITY TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 REGISTERED CHARITY No. 284216 Broadfield Lon ECIA 78L OX 339101 LrthW4 34 Bvthae stre C81 2JD Reathty RGI 2LU 152BE DX 33W)I Ckn24 OX 146120 Retty21 DX 38516 &yJthaTWa +44101345 222 9222
GRACE CHARIIY ANNUAL REPORT AND FINANCIAL STATEMENTS CONTENTS Pag• Trus¢ees' Report Independent Exarninerfs Report Statement ol FinarKial Actmties BalafKe Sheet Noles lo the Financial Slatgments
GRACE CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees a F4eased lo Kesenl th"r annual Trustees. Rert togethu v•th the firyanoal slatemenls of the Charity for the year eTrJed 5 April 2025. REFERENCE AND ADMINISTRATf¥E DETAILS Ragislefed Charty nurnber.. 248216 Prinap81 adthess.. L¥ UK LLP One Barlhob)mew Ck)s¢, Lond ECIA 7BL Twstees.. Mfs V Thcnas Dr L Hobby A Appelbe Mr W Thomas Indépèndent Examiner.. Mrs Julia Strike TEP One Barthok)maw Ch)8•. Lonth ECIA 78L STRUCTURE, GOVERNANCE AND MANAGEIIFENT Govemlng doeumènt The Chaiity is ¢ontroled by it5 90sm1 dUMen1, a deed of tsust dalgj 17 Mard) 1969, and o)nstrttstes an unin¢orpor•tgd thanty. poinkn•nt ol TrUIt• and Try•to• Inductoon and trtlnlng Truslees are appoinled by deed New twstees a brEled on lh gaI obhJaIS under charily Liw, the Charity Comrn15&0n guidance on public berefrt. nfoMd ol the contents ol the deed, dwslc-rnakig processes and recent financial perfomance of the chanty. Before lakirg on the ro they mèet key adwsors and other Iruslees Truste¢s are &ncouraged lo attend aForopria¢e external Iraning e%ents whwe these will laulrtale the undertakn'ng ol their role Rl$k Manag•m•nt The Tru5ta8s récogntse thal they a duty lo ¥J8nlfy and risks lo whth the Chanty is exposed and lo ensure appropriate conlrols are in placè to kyovide reasonable assurance frdud aryj ertor. The Trustees have considered the main aa$ of risk and are ol the opinion that the Chanty has the sourceS that. under noftnal eondth.ons all these risks 10 te mitigaled lo an acreptatA8 1 in it5 day.l04ay op8r8tK)ns. oaJECTps AND ACTTnEs The Charrty was cxeated by deed of trtt dated 25 January 1982 and eAists lo tenefil such kgally charitable objects a5 the Trustees al Ihwr discre1k select. The Trustees conswjer appli¢XK)ns f( grants at meen95 and gen8ralty th[gUl1he ar.
GRACE CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 IconLI Public 88nefil Ststernent The Tiuslees have ferred lo the guanCe contain811 m Ihè Charity Cofflmkssth's genefal gUAjan on public benelrt when reviewng the Trust'5 aims aThl objeth¥es and pLgnning firture a¢"e5 and deoding on the grants for the ar The Charilvs objects are for the wbb"c berrf. Those IojefAs are athieved by rtue of the gfanls made by Ihe Tnjstees to Chant$ EnglaTrJ and Wales and to indinlualsto assist their education. ACHIEVEMENTS AND PERFORMANCE The Trustees mel in person and wrtualty on various oCcasS to cSider the charivs adivrts and achievements during the yèar. Thè charilae dl)n9 were agreed. 18 grants mJa durin9 Ihg yoar 12024.. 151 as shown in Tr)le 2 to these acc(wffit$. Tha Charty tlU0$ lo $upport edwalbywl initkglNe. 0¢ AJrbbass8dors10A1 Ocean Arnb45sadc¥s waj creed lo support ctureS to stnts. some of ¥thith rnay be fi1rn for future use Assistance is also gNen lo Unrted Wortj co1$, uirtialty wa Allantic Colloge. m creat¥)n of a new InlemalN)nal baccalaurea18 C8nlrgd y rnarir enMrOnrnt5. The Trustees have agreed lo sel aside approxNnal8ty £12.( per annum to gJPPOrt Ihe tsaining and lactures and also 51udenl prr£ès. In the hvo years the re 50m¢ •SJitional costs for the promotK)n Qf OA'5 educational inrtk8iNe. During this yyar there were no cthts alln'trJt8d lo OA. The Trusleas conknuè lo raM4 OA anrtuaHy and rèFtyYt on to th& Thtiabvè and also the erè8th?n ol sludenl pryes os they arise. The Trust Funds We hdd in in¥pstments and cash. Income for tha year In the fomi ol dkndends amotsnted lo £44.15912024." £41,79n. The rnarket value of the inveslfflenl$ al th¢ dole ol ts Balancg Sheel wa6 £709.364 12Q24.. £720.6491. The Trustees saw a ¢Jecrease over the year ¥1 the le ol lh8 pcKff¢YN) and Mn caU1S abcJt future Invesimtrnt. They are aware of the continuing econorn $1$ arJ polth.cal uncertainty arwnd the worfd and the oryoing impact these could have on inve61ments their values and the &isiThJ frcffl those investrneThts. They are invested for Ihe long le. FINANCIAL REVIEW Charltablo Expendlturn The 2025 grant5 lolalled £40.10012024". £19.013). or Ihese. £NIL12024. £NILI folated lo OA. Other Expendliurg Expènditure reL4ting lo the mwenl. admITristratn 90veffla of the Chanty amtyJnted to £3,642 12024.. £5.5241, s9 than 10A of Ihe Value of the Ch8ty ai 5 Awl 2025. Investment Pollcy and Perfomun Th8 Tru5tee5 have an in¥e5tm¢nt PK)rtloli) wilh M&G )Mpn$ing sha$ n ther SlerliThJ Chafifund, wth units Id in tM)th their Income and Aowrnulalion Fund5 The Inv8sknenl in this lund offers the Trustees the righl mix of capital growth and CoMe to tneet th&r and B acti¥Ely managed * M&G direLI. The Ttustees rnonitoT the perfom)artt at their Meet9$ and vknen Ihe quarterly tepL¥t5 are re(X1. The investment portfolKJ Shed a de(xease li market Je over the pwj reiSed losses of £14.468 12024.. £8,658). There were no realised gains or kJsses12024." none). P4e2
GRACE CHARir REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 20251conLI Roserves Policy and g¢ing concgrn The Trustees only use Income an51ry during tath sear grants anL1 do ¥eThl rn than their annual Income each year It Is >t envisagJ thai tsre 11 tye luturo tMMtS ihat 8xcd fijtur? Inccrfne on an annual basis thelOre the tru$w a hwy rJJrr8nl re88r¥e Ky1. The TnJ585 are of th8 VBW that Trust Is a going concem Ex•mptlon• lyom DthcloAur• The are no exempiions from disL6we. The law applicab to char?5 In Er%JLqThl & Wakn t•quir•s IlN• TnJ$t•8s to p(eparo statemonts for each Iinanaal year which gwe a true aTrl Izir of Ihe Chanty arKI of wource$ arnl ap1¢80 of resource5 of Charty for that penLxJ In prepanng Ihese financJal strentS. ts Trustses are requi4 lo sew SUttsb accountsThJ aTrl thèn IWI ¢X$t8ty. mokglktyrn8nts 8Stmaltt that ar• 1•88onabl& and WLthnL * state whether applicab actounbng $tsThJard$ and ststements of rety)mmeTrJed pra¢tK ha been lo11d. su0¢1 to any departures disdosed aThJ e>yained In tha f•aral staternents aThJ'. prepare Ihe financwl 5tat8m8n15 on the gc¥ryJ tCeM basis unwrt is napwcw8tè to that I ¢hanty will contnue In cyralvjn Th¢ Trusts8s are r•spon$iblfr lof keer9 WUnrj rgwds tthsdoso +hth rg8sonab 8r8¢Y IN8 rinancial positron of charrty aNJ whKh enabb them to ensure Ihal b)e rma4a1 $¢a*ments with applicable law and regulat)n3 They a also reSp0Th51b for 5afèauardir¥J the assets of th8 Chanty and hencg ror lakiThJ steps l(w Ihe prwontson aTrJ deteckn offraud aTrJ otrtsr vre•Aartss. Slgned on bohaN olth• Iru•tw•: O•te'. 71712025
GRACE CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES IN RESPECT OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 I rerort to Ihe Tru5t88s on rny examinatiM of the acxxunts ol the Grace Chanty br the ended 5 Awl 2025, which are set on pages 5 tr1 9. R•spon8lblll and b•8h of r•port As the charrty tnjstees of Ihe Trust y)u are resw¥15ible Ic the preparatNffi ollhe acInts in aca)rdanr with the requrements of the Charities Act 2011 Ilhe Art). I report In respecl of my examination of the Twsfs accounts carried ¢xrt und¥ secticffi 145 ofthe 2011 Act and in carryng ou¢ my 8xarninalion I ha¥e all the ap[Aatre Th'fectK)ns giv ty the Charrty C¢)mmission under sectK)n 145151 Ibl of the Act. Ind•pondgnt examlnorfs 8tsteTh•nt I have completed my examinat. I cfirrn Ihat no rnaterial mamers con* lo my attenlhm in conn$dn with the exaTninalK)n giving mt caus• to that In any mateiial fespect". accounling records were nol kept in rested olthe Tt as requwèj by 130 Ort Act,. or the acKounls do not acoyd with those recNds.' or tho accounts do not ccmpty wth the appIae requMen1$ c(knxrrung Ihe form and content of the accounts sel out in Ihe Charities IAcwJnlS and Reports) Rèwtatx)ns 2CI]8 other than any requirement that the a(o)unls and fairf m¥ %thich is rot a matter conSKlered a$ part of an independent examinat. I have no concem$ 8j h8¥• ¢omo s$ no othai malt8(s •) eonneelion examination lo whth atlention Should be drawn in thy6 reFtyJrt in wder to onablt a propèr und8tstandmg ol actot$ to bo r8ached. Mr5 Julia Slnke TEP One Bartholomew Cbse London EC1A 7BL Date.. 21 Page 4
GRACE CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2025 Unrestricted Fund 2025 Total 2024 Nots• INCOME & EXPENDITURE Income and endowments Irom: InStmentS 44.159.27 41,797 Total Incom• •nd endowments 44.159.27 41.797 Exp•ndlturn on: Charftabh oxp•ndltyr• Grants Support costs 40.100.00 3,642.tyJ 19,013 5,S24 Total •xp•ndlturn 4J,742.00 24 $37 NET INCOMEIIEXPENLNTUREI 417.27 17.260 Nèt Ilossesl on inveslrnènts 114,468.041 18,6581 N•t l•xp•ndltureWn¢orne 114,060.771 Reconelllatlon of Fund• Fund balan$ brought loThYard 751,721.21 750,119 Total fund• urrknd forAT4rd at 5 Aprll 2025 744,670.44 758.721 Page S
GRACE CHARITY BALANCE SHEET AS AT 5 APRIL 2025 2025 2024 Flxed A888ts Inv8slmenls 709.3H28 720,649 Curr¢nt A•Mts Cash 35.306.16 39,602 Lu•.. Curr•nt Lkbllrt Amount$ lalllng du• wlthln on• y••r Broad11 Law UK LLP l.SS) 1.5)) Not Current A88ot• 36,306.16 38.072 Not A88•ts 744,670A4 758.721 Fund* Unre51ricted fuTrJ5 744,670.44 758,721 Th8 finano81 slants wOTrd by tho Tnjstwi andwero th•f tthawty" F Awelte- Tw$lee Da".
GRACE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2026 1. kcountlny Pollcl The finanaal statements have been prepared under the historKal CO con%Enb'on, wth the excepb'on that inve5tm8nls are shown al rnarket value as al the babnce sheet dale and are accordano wlh the Slalement of Recommended Pracc.' AccountiNJ and RtpthrvJ ty Chafits twepwng their actx)un15 in accordan¢% with the Financial Reporting Standard ar•Iae in the UK and RepublK of Irplar¥J {FRS 1021 leftective, 1 January 20151 and the Charrt$ Act 2011. The Charty conslrtulès a puNic benefft ertrty as defined by FRS 102. Hawng as585sed the Charrtl5 financial powtK)n and pkns for Ihe lore5eeable future. the Trustees are satisfied that it remains approprle to prepare finanoal statemenls on a g(ry cOrM bass. Where n8ces5ary èslimales and jLKlg8rnent5 arg based on hisloarnl experCe and olhèr lxlots. A Iiablrty 8nd rdat•d •xp8ndrtura s reeognised when ther• Ls a Wl or constrU.¥e oblgation al the balance sheet dat8 as a resutt ol a pasl ebpnl. that it is likety lo be setyed and that I C be m¢¥sured rdwbty. Tlw UnrtstriLi•d Fund eompns•s Ihosa lurtds whth th8 Trustees are tree to use in accofdance wth the charrtable objecls. Charitabtè ran Grant5 are recognised vtheTh the Trustees have rn o dec15th 10 makè a pawna)18nd th8t dèc4sbn had èn cornrnunicated to the recpient and rt 15 probaue that payment wdl tske place Hwe¥er, the recognition of any liabilrty wll be dependenl any crdn$ attachry io the Commitr1. InstmentS arè staled al market value as al S April 215. In¥eslmwrt gains aTrJ 10%se5 are disdosed the Stalement of Financpl Admties. Investment Income and Bank I ere Investment income and tax recoverable are accowted for on a receNab1eba$. 2. Charitsbl• EXndIre 2025 2024 Grants rnade during the ypa¥ tOtald.. 40,100.00 19,013 Supp(Kt cost5 Metro Bank tharges Legal & Profe55ional VAT (non recoverabk) 40 4,570 914 5,524 3.035.00 607.1Th] 3,642.00 43,742.00 24,537 Page 7
GRACE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 IconLI 3. Investmonts Mo%ements on quoted in¥e51meiits were as lollm. 2025 224 Markèl value brou9h¢ forward Add.. aCqlSl0nS at cost 720.649.04 3.183.28 726.449 2.858 723132.32 729,307 Nel 00) on rèwdlua 114.468.041 {8.6581 Market value at year end 709,364.28 72D.649 Hk%lortsl cost al year end S36,12186 532.940 All Investments are ¥rtuaièd in lh8 UK listed w a rètr)gnised sloc exthar¥Ja. Investments which reprn1 5% more of the total rt[ollO are &)nsidered ty th¢ tntslees lo be material aTO'. 2025 91 92% 808% M & G Charifund- Inceffja Unrts M & G Charilund- Units 4. In¥tment In¢om• 2025 2024 IrKome from UK In$1MentS 44.159.27 S. Movefflent In Fund• 202S 2024 untrIcted Fund• General fund Fund value brought lOard 778,433.16 718,433 Net movemenl in lunds 114,050.771 8,602 Fund wdlue at year end 764,3 87.0 Nèt movemenl in funds labol. lseS as fd1(Y.. 2025 2W24 Unrestr?cted Funds General lund IornIng Gains arrfj $Se$ 44,159.27 14,468.04 29.691.23 41.797 8.658 33,139 Less.. Expendrture 43,742.00 24,537 114,050.77 8,602 Page 8
GRACE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 202SlconLI 6. Truste¢$' Remunorniton and Exp•nse8 Ntsrnt of the Trusiees ha¥e b$8n pa any reMration w r8ceThd any beneffts Irom an emF4oyment wlh the Charity or a related entty.12024.. £NILI. No Trustee expenses have been curred, K)r have there been any rlataY party trarathns in Ihe reporting perioy Ihat require dek)su¥e.12024. £NIL in an rasesl. Independent examination lees are charged but they a part of Broadf*lJ Lw UK LLPS genet81 expenses. The luncth)ns are carried out separalelywthin Broadfiekj Law UK LLP. 7. Employaes The Trusl doe5 not haw any empbye¢s (2024. none). Pe9