Annual Report and Financial Statements for the Year Ended 31 January 2025
Grace Publications Trust
Charity registration number: 285237
Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
GRACE PUBLICATIONS TRUST
CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 14 |
GRACE PUBLICATIONS TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
R Tibbs (resigned 11 October 2024) A M King A Prelock N Graham B Jones A Gardner A Constable
Charity Registration 285237 Number Principal Office c/o Grace Baptist Charities Ltd 62 Bride Street London N7 8AZ Independent Examiner G W Schulz FCMA Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
Page 1
GRACE PUBLICATIONS TRUST
TRUSTEES' REPORT
The Trustees present the annual report together with the financial statements of the charity for the year ended 31 January 2025.
Structure, governance and management
Nature of governing document
Grace Publications Trust is a registered charity, number 285237, and is constituted under a Trust deed.
Recruitment and appointment of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Organisational structure
The charity has a management committee who are elected/re-elected annually at the AGM and an executive to direct the work of the charity.
The charity has formulated, agreed and implemented policies in relation to privacy (GDPR), reserves, investments and risk assessment.
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Objectives and activities
Objects and aims
The principal object of the charity is to promote the better knowledge and understanding of the doctrines of the the Christian faith as expressed in the London Confession of Faith 1689 and the Strict Baptist Affirmation of Faith 1966 and to do all such lawful things as are incidental or conducive to the attainment of these objects.
The charity aims to fulfill its main object by producing, acquiring, publishing and disseminating literature of all kinds and the making and distributing of mechanical, electrical and other recordings, films and visual aids.
Public benefit
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
GRACE PUBLICATIONS TRUST
TRUSTEES' REPORT (CONTINUED)
Achievements and performance
Through another year, we thank God for enabling the Trust to continue its work of publishing Christian Literature.
During the year Grace Publications Trust produced and sold 2 new books namely “Titus Revolution” and “Gospel Church Government”. We reproduced “baptism and church membership” in both English and Spanish. We have other books in the production process and are in the process of initial conversation with several other authors. In addition, Christian Focus Publications produced a fifth volume of the “2000 years of Christ’s Power” series - GPT receive royalties from the sale of this book and the other books in the series.
DayOne continues to be our “fulfilment partner” by providing a warehousing and “pick and post” facility for all GPT website sales. DayOne also continued to handle all our trade accounts with UK bookshops and the distribution of Geneva Bible Notes (GBN).
During the year, GPT has been working with Lifeway on the marketing of the new CSB Anglised Bible, promoting it at conferences and selling it via our website. A new Managing Editor has also been appointed. GPT has also been working on a ‘magazine’ style gospel of Mark to be shared by London Churches as part of its ‘Good News for London’ project. This launched in April 2025.
We give thanks to the Lord for the faithful service of all committee and executive members, and for those who assist the Trust in editing and proof-reading manuscripts.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 3
GRACE PUBLICATIONS TRUST
TRUSTEES' REPORT (CONTINUED)
Statement of Responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the Trustees of the charity on 16 October 2025 and signed on its behalf by:
A King ......................................... A M King Trustee
A Gardner
......................................... A Gardner Trustee
Page 4
GRACE PUBLICATIONS TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRACE PUBLICATIONS TRUST
I report to the Trustees on my examination of the accounts of Grace Publications Trust for the year ended 31 January 2025.
Responsibilities and basis of report
As the charity Trustees of Grace Publications Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Grace Publications Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Grace Publications Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... G W Schulz FCMA Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
16 October 2025
Page 5
GRACE PUBLICATIONS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2025
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 2 11,004 Charitable activities 3 57,241 Investment income 4 3,235 Total income 71,480 Expenditure on: Charitable activities 5 51,133 Total expenditure 51,133 Net income/(expenditure) 20,347 Net movement in funds 20,347 Reconciliation of funds Total funds brought forward 124,457 Total funds carried forward 11 144,804 |
Restricted funds £ 935 - - 935 2,721 2,721 (1,786) (1,786) 7,924 6,138 |
Total 2025 £ 11,939 57,241 3,235 72,415 53,854 53,854 18,561 18,561 132,381 150,942 |
Total 2024 £ 2,015 53,236 3,046 |
|---|---|---|---|
| 58,297 | |||
| 46,850 | |||
| 46,850 | |||
| 11,447 | |||
| 11,447 120,934 |
|||
| 132,381 |
The notes on pages 8 to 14 form an integral part of these financial statements. Page 6
GRACE PUBLICATIONS TRUST
BALANCE SHEET AS AT 31 JANUARY 2025
| Note Current assets Stocks 8 Debtors 9 Cash at bank and in hand Creditors: Amounts falling due within one year 10 Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 11 |
2025 £ 31,342 25,449 105,264 162,055 (11,113) 150,942 6,138 144,804 150,942 |
2024 £ 27,619 23,171 84,788 |
|---|---|---|
| 135,578 (3,197) |
||
| 132,381 | ||
| 7,924 124,457 |
||
| 132,381 |
The financial statements on pages 6 to 14 were approved by the Trustees, and authorised for issue on 16 October 2025 and signed on their behalf by:
A King A Gardner ......................................... ......................................... A M King A Gardner Trustee Trustee
The notes on pages 8 to 14 form an integral part of these financial statements. Page 7
GRACE PUBLICATIONS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Grace Publications Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Gift aid
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Page 8
GRACE PUBLICATIONS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 (CONTINUED)
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Liabilities
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Page 9
GRACE PUBLICATIONS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 (CONTINUED)
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the Trustees' discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the Trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
2 Income from donations and legacies
| Unrestricted funds General £ Donations and legacies; Donations 4 Other income from donations and legacies - 4 3 Income from charitable activities Unrestricted funds General £ Sales - General 47,165 Subscriptions - Geneva Bible Notes 10,076 57,241 |
Restricted funds £ 935 - 935 Restricted funds £ - - - |
Total 2025 £ 939 - 939 Total 2025 £ 47,165 10,076 57,241 |
Total 2024 £ 1,965 50 |
|---|---|---|---|
| 2,015 | |||
| Total 2024 £ 44,756 8,480 |
|||
| 53,236 |
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GRACE PUBLICATIONS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 (CONTINUED)
4 Investment income
| Unrestricted funds General £ Interest receivable and similar income; Interest receivable on bank deposits 3,235 5 Expenditure on charitable activities |
Restricted funds £ - |
Total 2025 £ 3,235 |
Total 2024 £ 3,046 |
|---|---|---|---|
| Unrestricted funds Designated £ General £ Authors, editors & readers payments - - Marketing & advertising 17 8,213 Production & bought-in costs 200 21,326 Donated books - - Royalties - 298 Postage, carriage & packing (books) - 9,329 Printing & stationery - 156 Insurance - 425 Travel and subsistence - 424 Bank interest & charges - 967 Committee members expenses - 1,676 Consultancy 31 1,385 Secondment 23 6,003 Sundry expenses - 50 Independent examination - 610 271 50,862 |
Restricted funds £ - - - 2,721 - - - - - - - - - - - 2,721 |
Total 2025 £ - 8,230 21,526 2,721 298 9,329 156 425 424 967 1,676 1,416 6,026 50 610 53,854 |
Total 2024 £ 250 2,643 22,676 - 1,069 8,191 51 355 877 876 196 1,319 7,631 136 580 |
|---|---|---|---|
| 46,850 |
Page 11
GRACE PUBLICATIONS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 (CONTINUED)
6 Trustees remuneration and expenses
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
During the year, travel and other expenses totalling £397 were reimbursed or paid directly to 3 Trustees (2024 - £631 to 3 Trustees).
7 Related party transactions
The Association of Grace Baptist Churches (South East) received £900 (2024 - £900) for accounting services. Ben Jones is a Trustee of The Association of Grace Baptist Churches (South East) and Abigail Gardner and Andrew King are employed by The Association of Grace Baptist Churches (South East).
8 Stock
| 8 Stock | ||
|---|---|---|
| Stocks 9 Debtors Trade debtors Prepayments Accrued income VAT recoverable |
2025 £ 31,342 2025 £ 12,933 500 12,016 - 25,449 |
2024 £ 27,619 |
| 2024 £ 5,806 1,150 16,146 69 |
||
| 23,171 |
10 Creditors: amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals Deferred income |
2025 £ 5,037 2,919 - 773 2,384 11,113 |
2024 £ - - 569 998 1,630 |
|---|---|---|
| 3,197 |
Page 12
GRACE PUBLICATIONS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 (CONTINUED)
11 Funds
| 11 Funds | ||||
|---|---|---|---|---|
| Unrestricted funds General General Funds Designated Good News for London fund Total unrestricted funds Restricted funds Book fund Total funds Unrestricted funds General General Funds Restricted funds Book fund Total funds |
Balance at 1 February 2024 £ 124,457 - 124,457 7,924 132,381 Balance at 1 February 2023 £ 113,880 7,054 120,934 |
Incoming resources £ 60,480 11,000 71,480 935 72,415 Incoming resources £ 57,427 870 58,297 |
Resources expended £ (50,862) (271) (51,133) (2,721) (53,854) Resources expended £ (46,850) - (46,850) |
Balance at 31 January 2025 £ 134,075 10,729 |
| 144,804 6,138 |
||||
| 150,942 | ||||
| Balance at 31 January 2024 £ 124,457 7,924 |
||||
| 132,381 |
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GRACE PUBLICATIONS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 (CONTINUED)
12 Analysis of net assets between funds
| Current assets Current liabilities Total net assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ Designated £ 145,188 10,729 (11,113) - 134,075 10,729 Unrestricted funds General £ Designated £ 127,654 - (3,197) - 124,457 - |
Restricted funds £ 6,138 - 6,138 Restricted funds £ 7,924 - 7,924 |
Total funds at 31 January 2025 £ 162,055 (11,113) |
|---|---|---|---|
| 150,942 | |||
| Total funds at 31 January 2024 £ 135,578 (3,197) |
|||
| 132,381 |
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