REGISTERED CHARITY NUMBER: 292984 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 FOR THE GRACE CHARrrABLE TRUST Michael Donnan & Co Limtted Charlered Accountants and Statutory Auditors Oaktree Court Business Ctr Mill Lane Ness Cheshire CH64 8TP
THE GRACE CHARrrABLE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 Page Report of tho Trustees Report of the Independent Audltors Statemont of Financial Actlvltles Balance Sheet 10 Cash Flow Statement Notas to the Cash Flow Statement 12 Not88 to the Flnancial Ststements 13 to 19 Detailed Statement of Financial Activities 20 to 21
THE GRACE CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 The trustees present their report with the financial statements of the charity for the y8ar ended 30 April 2025. The trustees have adopted the provisions of A¢Gounting and R8POrting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)18ff8CtiV8 1 January 2019). OBJECTIVES AND AcTIVlEs Objectlvas and alms The Trust has been established to mak6 grants for charitable purposes. It particularly but not exclusively supports Christian and church r81ated activities and education needs in the UK and abroad. The Trustaes confinn that they hav& had due regard to the guidanc8 published by the Charities Commission on public benefit and are satisfied thal Ihe Trust is compliant with the duty as set out in the Charities Ad 2011. ACHIEVEMENTS AND PERFORMANCE Once again, the Charity was able to substantially increase grants mad8 during the year. A total of £2,441.800 (2024 £1,818,110) was given to a number of significant charities. In the year to April 2024, a commitment was made to significantly fund a new aircraft for Mission Aviation Fellowship. The generosity of donors enabled a plane to be funded and the trusteès were privileged lo be invited lo the dedication of the plane and its launth by lQ'ng Char16s111 al Northolt Airport last April. The plang is now in service in Papua New Guinea. Mission Aviation Fellowship was a charity we supported in 1985, our first year of operation. with a grant of £100. Contributing to the education and lrfe opportunities for young people contlnues to be an area of our support. At the Q3 Academies, sponsored by the Tnjst. Ethos Teams have been funded which have a focus on Family Support. Youth Mentoring and inspiring young people to develop their character and values all of which are underpinned by a Christian perspective. We continue to support a wide range of Christian Charities who through their work and social action bring the Christian Message of the love of Christ and practical help to those in need in Britain and in many parts of the worfd. FINANCIAL REVIEW Principal funding sources The Charity generales incomg through donations and its investments. Donations induding Grft Aid amounted to £2.688,266. The Charity generates income through its invesknents, and in accordance with the Trust Deed it has the power to invest in stocks and share investments. The financial year created a loss of £10,142 represenling the net of realised and unrealised gains and losses. In¢omo from investments amounted to £45,434. The Charity does nol carry out significant fundraising activities. The fund now amounts to £4,418,900. Page 1
THE GRACE CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 FINANCIAL REVIEW Investment policy and objactives The Trustees administer the funds and are advised by UBS London and Charfes Stanley Stockbrokers who have invested in moderate risk portfolios. This follows the Trusteés. balanced investment policy seeking to maximise returns whilst retaining the liquidiiy of fvnds in order to meet urgent demands. The Trust will continue to support th8 activities named in the objectives and aims and g8neral charitable causes in the United Kingdom and overseas. Reserves policy The reserves policy determines that th8 Charity will maintain a significant level of ReseN8s and that free Reserves should enable larger on8 off donations to b8 made without lh8 need for drawing down capital investments. The level of free Reserves compar8d to donations made in the period is considered appropriate lo meet the Reserve requirements and provide sufficient ndS to m88t Grants and Gover the Charity's Govemance Costs. FUTURE PLANS Support for the charity's main beneficiaries will continue to be given. The Trusteos ke6p in r8gular contact wllh the charities supported and monttor thoir activtti8s and oulcomes. Small charities requesting help have to be known to the Trust88s. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Grace Charitable Trust is a registered tharity, number 292984. It was established by a Trust Deed dated 30 March 1985. The Trustees administer the Trust and grants are made only to charities known to the settlors. The Charity keeps its Trustees regularly infomed of its activities and perfomiance. Trustees approve annual budgets of grants. Donations made to the Charity are carefully considered to 6nsure that they are from known and legitimate sources. Major risks have been reviewed and syst8ms or procedures hav8 bèen established to manage Ihe risks. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 292984 Prlncipal address Swinford House Nortons Lane Great Barrow Chester CH3 7JZ Page 2
THE GRACE CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 Trustees E Payne OBE R B M Quayle M S Mitchell RA Wright Mrs A M C Payne Auditors Michael Donnan & Co Limited Chart8red Accountants and Ststutory Audltors Oaktr86 Court Business Ctr Mill Lane Ness Cheshire CH64 8TP Advisers UBS AG 5 Broadgate London EC2M 2QS Charles Stanley & Co Limited 25 Ropemaker Street London EC2Y 9LY STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are responsible for preparing the R8POrt of the TrLSStees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unit6d Kingdom Generally Accepted Accounting PraCts.l. Charity law requires th8 truste8S to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Stsndards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expendtture, of the charity for that period. In preparing those financial statements, the Irustees are required to select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements-, prepar8 th8 financial statements on the going concem basis unless tt is inappropriate to presume that the chariiy will continue in business. Page 3
THE GRACE CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 STATEMENT OF TRUSTEES. RESPONSIBILITIES - continued The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charity and lo enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. They 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. Approved by order of the board of trustees on behalf by.. nd signed on its E Payne OBE - Trustee Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE GRACE CHARITABLE TRUST Opinion We have audited the financial statements of The Grace Charitable Trust (Ihe 'charity'l for the year ended 30 April 2025 which comprisa the Statement of Financial Activiti6s, the Balanc8 Sheet, the Cash Flow Statement and notes to the financial statements. including a summary of signrficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practicel- In our opinion the financial statements- givo a true and fair view of the state of the charivs affairs as al 30 April 2025 and of ils incoming resources and application of resources, for the year then ended,. have b88n properly prepared in 8¢cordance with United Kingdom Generally Accepted AGcounting Practice,. and have been prepared in accordance with the requirèments of the Charities Act 2011. Basis for oplnlon We conduct8d our audil in accordan with Intemational Standards on Auditing (UK) IISAS {UK)) and applicabl& law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial ststements section of our report. W8 are independent of the charity in accordance wtth the ethical requirements that are relevant to our audit of tha financial statements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions rèlatlng to golng concem In auditing the financial statements, we have conduded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, Y have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going Goncem for a period of al least h¥elve months from when the fi'nancial slatemenls are authorised for issue. Our responsibilities and the responsibilities of the truste8S Wth resp8ci to going concern are described in the relevant 5eGtions of this report. Page 5
REPORT OF THE INDEPENDENT AUDoRs TO THE TRUSTEES OF THE GRACE CHARrrABLE TRUST Olher inforniatlon The twste8s ar8 r8sponsible for th8 other information. The other information comprises the information included in the Annual ReporL other than the financial statements and our Report of tha Indepgndenl Auditors thereon. Our opinion on the financial stat8ments does not cover the other infomation and, except to the extent otherwise explicitly stated in our r8porL we do not express any form of assuran conclusion thereon. In connection with our audit of the financial statements, our responsibility is to r8ad the other information and, in doing so, consider whether thè other infomiation is materially inconsistent with the financial statements or our knedge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise to a material misstatement IN th8 financial statements themselves. If, based on the work we hav8 performed, we wnclude that th8r& is a material misstatement of this other infomialion. w8 are required to report that fact. We have nothing to report in this regard. Mattors on which we are required to report by exception Wè havè nolhing to report in respect of the following mattors vthere the Charities (Accounts and Reports) Règulations 2008 requires us to report to you if. in our opinion- the information given in th8 R&port of the Trustees is inconsistgnl in any material respect with the financial statements. or sufficient accounting records have not been kept., or thè financial statements are not in agreement with the accounting records and returns. or W8 hav8 not received all the infomialion and explanations w8 require for our audit. Responslbllltles of trustees As explained more fully in the Statemenl of Trustees, ResponsibilÈtios, th8 tnjstees are responsible for the preparation of tho finanaal statements which gwe a true and fair view, and for such internal control as the truste&s d&l8rmine is necessary lo enable Ihe preparation of financial statements that are free from material misstalemgn( whether due to fraud or error. In preparing th8 financial statements, the truslees are responsible for assessing the charitls ability lo continue as a going concem, disdosing, as applicable. matters related to going concern and using the going concem basis of acGounting unless the Irustees either intend to liquidate the charity or to cease operations. or have no realistic aMematNe but to do so. Page 6
REPORT OF THE INDEPENDENT AUDrroRS TO THE TRUSTEES OF THE GRACE CHARITABLE TRUST Our responsibilities for the audit of the flnancial statements We have been appoirrted as auditors under Section 144 of the Charities Aot 2011 and rewrt in accordance with the Act and relevant regulations made or having affect thereunder. Our objectives are lo oblain r8asonabl8 assurance about whether the financial statements as a whole are free from mat8rial misslatemenl, whelher du8 to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a matarial misstatomont when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are rApable of detecting itTegularities, including fraud is detailed below.. The objectives of our audit are to Klenlify and assess the risks of material misstatement of the financial statements due to fraud or error. lo obtairs sufficient appropriate audil evidonce r6garding the assessed risks of material misstatement due to fraud or error, and lo respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidablo risk that matèrial missta18ments in the financial statements may not be detected, even ihough th8 audit is properly planned and p8rfomied in accordance with the ISAS (UK). In identifying and assessing risks of material misstatement in respect of irregularitiès, including fraud and non-compliance with laws and regulations, our procedures included in tha following- W8 oblained an understanding of the legal and regulatory frameworks applicable to the charity and th8 sector in which they operate. We detemiined that the following jaws and regulatTrons were most significant.. The Charities Act 2011 and the UK taxation laws. We obtained an understanding of how the charity is cx)mplying with those legal and regulatory frameworks by making inquiries to the management. We assessed the susceptibility of the charity's financial stal6m8nts lo Material misstatement. including how fraud might occur. Audit procedures perfonned by the engagement team included:
idBntifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud., understanding how those charged wtth govemance (x)nsidered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process- challenging assumptions and judgements rnade by management in ils significant accounting 6Stimates,' id8ntifying and testiw journal entries. in particular any journal 8ntries posted with unusual account combinations,. and assessing the extent of compliance with the relevant laws and regulations. A further description of our responsibilities for the audit of the ffinancial statements is located on the Financial Reporting Council's website at vNM.frc.org.ukJauditorsresponsibilities. This description fomis part ofour Report of the Independent Auditors. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE GRACE CHARITABLE TRUST Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charity's trustees those matters we are requir8d to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Michael Donnan & Co Limited Chartered Accountants and Statutory Auditors Oaktree Court Business Ctr Mill Lane Ness Cheshire CH64 8TP Date.. Page 8
THE GRACE CHARrrABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025 3014125 Unrestricted fund 3014124 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2.688,265 1,982,569 Investment income Other income 45,435 10,143 43.185 353,488 Total 2.723.557 2,379,242 EXPENDITURE ON Raising funds 28.884 24,438 Charitable activities Christian based organisations Education Social and Medical General charitable purposes Support costs 1,387,500 1,085,410 229,000 208,000 726,750 485,150 98,550 39.550 11,412 11,735 Total 2,482,096 1,854,283 NET INCOME 241,461 524,959 RECONCILIATION OF FUNDS Total funds brought forward 4,177,440 3,652,481 TOTAL FUNDS CARRIED FORWARD 4,418,901 4,177,440 The nol8s fonn part of Ih8se financial statements Page 9
THE GRACE CHARITABLE TRUST BALANCE SHEET 30 APRIL 2025 3014125 Unrestricted fund 3014124 Total funds Notes FIXED ASSETS Investments 10 3,961,413 3,907,830 CURRENT ASSETS Cash at bank 461,688 273,810 CREDITORS Amounts falling due within one year (4,200) 14,2001 NET CURRENT ASSETS 457,488 269,610 TOTAL ASSETS LESS CURRENT LIABILITIES 4,418.901 4,177,440 NET ASSETS 4,418,901 4,177,440 FUNDS Unrestricted funds.. General fund 12 4.418,901 4,177,440 TOTAL FUNDS 4,418,901 4,177,440 The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by.. .E Payne OBE- Trustee The notes form part ofthose financial slalements Page 10
THE GRACE CHARABLE TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 30 APRIL 2025 3014125 3014124 Notes Cash flows from operating activities Cash ganeralod from op8rations 199801 222 770 Net cash provided by operating activities 199,801 222,770 Cash flows from investing actlvities Purchase of fixed asset investments Sale of fixed asset investments Interést received Dividends rec8iv8d (273,058) 215,700 5,215 40.220 (913,572) 807,844 7,641 35,544 Net cash used in investir@ acttvities 11,923) 62,543} Change In cash and cash equivalents in the reporting period Cash and cash equivalents at the beginnlng of the reporting period 187.878 160,227 273,810 113583 Cash and cash equivalents at the end of the reporting pertod 461.688 273,810 Th8 not8s fom? part of thes8 finanal stslements Page11
THE GRACE CHARITABLE TRUST NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 APRIL 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIWTIES 3014125 3014124 Net income for the reportlng perfod (as per the Statement of Financial Actlvltlès) Adjustments for: Interest rac6ived Dividends recèived Net profit on investments at revaluation Cash movement in portfolio 241,461 524,959 {5,215) (40,220) 10,142 (7,641) (35,544) (353,488) 94,484 Net cash provided by operatlons 199,801 222,770 ANALYSIS OF CHANGES IN NEf FUNDS At 1.5.24 Cash flow At 30,4.25 Net cash Cash at bank 273,810 187,878 461.688 273,810 187,878 461.688 Total 273 810 187,878 461,688 The notes form part of these financial statements Page 12
THE GRACE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 ACCOUNTING POLICIES Basis of preparlng the financial statements The financial statèments of the charity. which is a public benefit entity under FRS 102, have been praparèd in accordance with the Charities SORP (FRS 102} 'Accounling and Reporting by CharÉties- Statement of Recommended Practice applicable lo Gharities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK arid Republic of Ireland (FRS 102} (effective 1 January 2019>., Financial Reporting Standard 102 'Th6 Financial Reporting Stsndard applicab18 in the UK and R8public of Ireland. and the Charities Act 2011. The ffnancial statements have been pr8pared under the historical cost onvention. with the exception of investments which are included at market value, a5 modified by the revaluation of certain assets. Income All income is recognised in lh8 Ststement of Finanaal Activities once the charlty has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. When a donation is received to fund a specific commitment of the charty, the income is defeed to th8 accounting period in which commitrnent is defrayed. Expenditure Liabilities are recognised as expenditure a5 soon as there is a legal or constructive obligation committing tho charity to that expenditure. it Is probable that a transfer of economic b8nefits will b8 required in settlement and th& amount of th8 obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to parti¢ular headings they hav8 been allocated to activities on a basis consistent with the use of resources. Invèstments Listed investments held at the balancE sheet date are revalued to their mid market price al the balance sheet date. The investment bonds are stated at market value. Valuations have been made in the year by portfolio managers and advisers UBS AG London and Charles Stanley stockbrokers. The statement of financial acliwli8s includes the net gains and losses arising on revaluation and disposals during the year. Taxation Th8 Charity is exempt from tax on its charttabl8 activtties. Fund accounting Unrestricted funds can be used in accordanc8 With the charitable objectives at the discretion of the trustees. Reslrtcted funds can only be used for particular restricted purposes within the objects of th8 charity. Restrictions arise when specAfied by the donor or when funds are rais8d for particular restricted purposes. Page 13 ntinued...
THE GRACE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 30 APRIL 2025 ACCOUNTING POLICIES . continued Fund accounting Further explanation of th8 nature and purpose of each fund is induded In the notes to the financial statements. DONATIONS AND LEGACIES 3014125 3014124 Donations Gift aid 2,668,265 1,977,975 20,000 4,594 2,688.265 1,982,569 INVESTMENT INCOME 3014125 3014124 Bank interest Other interest receivable Income from UK listed Income from non-UK listed Propety income 5,215 6,428 14,143 19,008 641 7,641 10,279 10,859 13,562 844 45,435 43,185 OTHER INCOME 3014125 3014124 Other incoming resources 10,143) 353,488 other incoming reSoUrS of -£10,143 {2024 - £353,488) represents the net of realised and unrealised gains and losses on the Investment portfolio. Page 14 continued...
THE GRACE CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025 RAISING FUNDS Investment management costs 3014125 3014124 Inveslm&nt managemont fees Bank inter8St and charges 28.750 134 24,300 138 28,884 24,438 CHARITABLE ACTIVITIES COSTS Direct Costs Support Costs (seè not& 7} Totals Christian based organisations Education Social and Medical General charitable purposes Support costs 1,387,500 229,000 726,750 98,550 1,387,500 229,000 726,750 98,550 11,412 11,412 2,441,800 11,412 2453,212 SUPPORT COSTS Governance costs Support costs 11,412 Page 15 continued...
THE GRACE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnugd FOR THE YEAR ENDED 30 APRIL 2025 AUDITORS. REMUNERATION 3014125 3014124 Fees payablè to the tharity's auditors for the audit of the charity's financial statements 4,890 4,890 TRUSTEES. REMUNERATION AND BENEFrrs There were no trustees. remuneration or other benefrts for the year ended 30 April 2025 nor forthe yèar ended 30 April 2024. Trustees. expenses The Trustees were reimbursed expenses to Ihe sum of £2,536 (2024 - £3,677) during the year. Induded in governance costs are seuetarial costs of £3,25912024- £3,168). 10. FIXED ASSET INVESTMENTS Investments MARKET VALUE At 1 May 2024 Acquisiiions Disposals Donations Net gains on revaluations Cash movement 3.907,830 273,058 (215,700} 38,950 (10,1431 32 5821 At 30 April 2025 3.961,413 NET BOOK VALUE At 30 April 2025 3,961,413 At 30 April 2024 3,907,830 Analysis of investments at 30 April 2025., Listed inv8stments Cash in investment portfolios Non-UK equities and asset allocation fijnds UK aquities 2025 2024 23,433 56,016 3,101,380 2,981,999 357417 352,699 3.482.230 3,390,714 Other investments Property investments Bonds and allernative investments 10.864 468 318 10,108 507,008 Page 16 continued...
THE GRACE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 30 APRIL 2025 10. FJXED ASSEf INVESTMENTS - continued Cost or valuation at 30 April 2025 is represented by: Investments Valuation in 2025 3,961,413 The change in market value of investments during the year wmprises all increases and dècreases in the market value of investments held at any time during the year, including profits and losses realised on sales of investments during the year and acquisitions to the fund and fund administration costs. The histori(¥l cost of Ihe inv8Stm8nts held at 30 April 2025 was £3,063,171 12024 £2.956,593). 11. CREDITORS: AMOUNTS FALLING DUE WTfHIN ONE YEAR 3014125 3014124 Other creditors 4,200 4,200 12. MOVEMENT IN FUNDS Net movement in funds At 30.4.25 At 1.5.24 Unrestricted funds General fvnd 4,177,440 241,461 4,418,901 TOTAL FUNDS 4,177 440 241.461 4,418,901 Net movement in funds. induded in the ave are as follows: Incoming Resources Movem8nt reSoUS expended in funds Unrestricted funds General fund 2,723,557 (2,482,096) 241,461 TOTAL FUNDS 2,723,557 2,482.096) 241,461 Page 17 continued...
THE GRACE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025 12. MOVEMENT IN FUNDS - contlnuad Cornparatives for movement in funds Net movem8nl in funds At 30.4.24 At 1.5.23 Unrestricted funds General fund 3.652,481 524,959 4,177,440 TOTAL FUNDS 3,652,481 524,959 4.177,440 Comparative net movement in funds, induded in the abovè are as follows: Incoming Resources Movement resources expended in funds Unrestrfcted funds Gènéral fund 2,379,242 (1.854,283) 524,959 TOTAL FUNDS 2,379.242 1,854.283) 524,959 A current year 12 months and prior year 12 tnonths combined position is as follows: Net movement in funds At 30.4.25 At 1.5.23 Unrestricted funds General fund 3,652.481 766.420 4,418,901 TOTAL FUNDS 3,652,481 766,420 4.418,901 Page 18 )ntinued...
THE GRACE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 30 APRIL 2025 12. MOVEMENT IN FUNDS- contsnuad A current year 12 months and prior year 12 months combined nel movement in funds, included in the above are as follows.. Incoming Resources Movement resources 8xpended in funds Unrestrlcted funds General fund 5.102,799 (4,336,379) 766,420 TOTAL FUNDS 5.102.799 4,336,379) 766,420 13. RELATED PARTY DISCLOSURES Total donations and legacies recEived without conditions from Trustees or other related parties for the year ended 30 April 2025 were £154,960 (2024- £77,000). 14. OTHER FINANCIAL COMMITMENTS At the Financial Year end in addition to the grants paid during the year Ihe Trustees have also authorised the payment of further grants to the amount of £430,000 which are subject to the fulfilment of certain conditions. Page 19
THE GRACE CHARrrABLE TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025 3014125 3014124 INCOMEAND ENDOWMENTS Donatlons and legacies Donations Gift aid 2,668,265 1,977.975 20,000 4.594 2,688,285 1,982,569 Invostment incomo Bank int8r&st Other int8r8St rec8ivab18 Income from UK listed Income from non-UK listed Property income 5.215 6.428 14.143 19,008 641 7,641 10,279 10,859 13,562 844 45,435 43,185 Other Income Other incoming resOurS 10,1431 353,488 Total Incomlng rosourcès 2,723,557 2,379,242 EXPENDITURE Investmant management costs Investment management fees Bank int8r8sl and charges 28,750 134 24,300 138 28,884 24,438 Charitsble activities Christian bas8d activities Education Social and medical Gen8ral charitabl6 purposes 1,387,500 1,085,410 229,000 208,000 726,750 485,150 98,550 39,550 2.441.800 1,818,110 Support costs Governancg G05ts Auditors, remuneration C8rri8d forward 4,890 4,890 4,890 4.890 This pag8 does not form part of the statutory financial ststements Page 20
THE GRACE CHARfrABLE TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025 3014125 3014124 Governanc8 costs Brought forward Other governance costs Secretarial services 4,890 3,263 3,259 4,890 3,677 3,168 Total rèsourcas 8xpend8d 2,482,096 1,854.283 Net income 241,461 524,959 This page does not fomi part of the statutory financial statements Page 21