COMPANY REGISTRATION NUMBER: 01926963 CHARITY REGISTRATION NUMBER: 327014 Grove Books Limited Company Limited by Guarantee Unaudited Financial Statements For the year ended 31 December 2024
Grove Books Limited Company Llmited by Guarantee Flnau¢ial Statements Year ended 31 Detember 2024 Pages TSleeS, annual report (incorporating th¢ dIr¢S report) Ito3 Independent examinerfs report to the tru5teC5 Statement of financial activities (including inrome and expenditure account) Statement of financial position 6t07 Notes to the financial sLqtemcnts 8tolS
Grove Books Limited Company Limited by Gusrantee Trustees, AnnuAI Report (Ineorporating the Dlrectorls Report) Year ended 31 DEcember 2024 The trustces, who are also the directors for the purposcs of company law, present their report and the unauditcd financial statement5 of thc ch8rity for thc year ended 31 December 2024. Reference and adminlstrative details Registered charlty name Grovc Books Limited Charlty registrAtlon number 327014 Company registratlon number 01926963 Principvdl office And reglstertd office Ridlcy Hall Ridley Hall Road Cambridgc CB3 9HU The trustees Revd M P C Collinson Dr F Shaw Rcvd l G Silk Ven B T Lloyd Revd N J Blandford-Baker Rev A J Joseph (Chair) Rcv R A Knight Mr M J Simmonds Revd B A Brady (Resigncd 3 l Decembcr 2024) (Resigned I l March 2025) Comp%ny seeretAry Revd l G Silk Indep¢nd¢ot exAmlner Mr S Tharby FCA For and on behalf of StreeL8 Chartei'ed Accountants 3 Wellbrook Court Girlon Cambridge CB3 ONA Structure? governnce management LeEI ststU5 Grovc Books Limited is a registered charity, number 327014 and a company limited by guarantee, wmpany registraliun number 01926963. The company is govcrned by its memorandum and articles of association.
Grove Books Limited Company Llmlted by Gugrantee Trustees, Annual Report (Incorporating the Directorls Report) (co•llNutdJ Year ended 31 December 2024 Structure? govern4nc¢ and management {covllllMvd) Organisational structure Thc trustees determine the general policy of the organisation. The day to day managcrneTrt of the charity is in thc hands of Susanne Thompson. Risk management As the charity's gros5 income is les5 than £250,000, a deiailed risk analysis is not required. Th¢ trustees havc essed somc of the risks to which the charity is exposed and are satisfied that systetns arc in place to mitigate any exposure tu such risk5. Appolntment of trustees Vesled in continuing trustccs. When a vacancy for a truslee becomes available potential trustees will be interviewcd and votcd on at the next trustees mceling. Objectives and Aetlvltie5 'rhe objects of the charity e the advancement ol. thc Christian religion by all mcans ot. communication but principally by the publication and dtstribution of the written word. Publlc benetit Thc Trustecs have complied with the duly in Section 4 of thc Chl(leS Act 2011 to have due rc8ard to publi benefit guidance published by ihe Charity Commission. rn accordancc with its objects, the main work of the charily 15 the publishin8 of booklets whiLh advance the Chrislian religion in a wide range of subjects. The benefil is not restricted to a specific group of people.. &nyon¢, regardless of sex, race, agc or geographical location, can buy thc Eooklets, in hard copy or onlin¢ and can a150 have access to them Ihrough a library, The booklets providc essential tcaching resources for the Church of England, the Estsblished Church. This providcs an extcnded bencfil to th¢ public, as ministers, ordaincd or lay, who read thcm. thereby dcliverin8 a belter service to the public; for example, in t¢achin8 the faith or in takin8 funerals. The charity subsidises its publications io make thcm more accessiblc. This is primarily through the use of volunteer author groups which the charity eslablisheb. 'This work with auihor groups is also aimed at discernin& encouraging and co&Lhing new author5. and also providing a forum where ncw ideas and develupment5 can be discussed. Achievements And performanee During thc year the charity has continued with its aim of the advancement ol Ihe Christian faith through book5 and public&Cions. Total incoming resources were £95.417 8nd iotal outgoing resources were £107.133.
Grove Books Limlted CoMpY Limited by Guargntee Trnstee8' Annual Report UD¢orpornilng the Dirertor's Report) (¢othd) Ye¥r ended 31 December 2024 Ftnanclal review Reserves lleY The ¢harity'8 reserves equivalent to its totsl fimds per the b818nce sheet of £26,298. The level of cash (£19,193) is tsrgeted to cover three months operating expenses (support sts of £53.008), which th¢ Tntee$ reEard as prndent provision. The Trnstees note that ¢urreftt cash l¢v¢l$ are above prtent provision, Investment poweri •nd r¢strletlono These are governed by the memorandum and articles of 8880ciation which pern]it fithds to be invested in investments. s¢eurities or property at tbe discretion of the trustees. Plni for flltsre periodg The Board will be tskiDg st¢p$ to ensure w¢ ore rnaximising opportuwtie8 for wid¢r regular income, jDcludin8 the 8Gcegsibility of our di¥ital texts, and r¢hIng out to a wider and more diveT3e ¢u5tom¢r base. Smau company provisloDI This report has been prepard in accordance with the provisioas applicable to couLp4ni¢8 entitled to th¢ STDall CompleS exemption. The trustccs, annual report was approved on ... ....... . and S1cd on behalf of the board of tte¢S by.. R¢vd l G Silk Trnstee
Grove Books Limited Company Limited by Guarantee Endependent Examlnerls Report to tbe Trustees of Grove Books Limited Year ended 31 Decernber 2024 I report to ihe trustees on my cxamination of thc financial statcments of Grove Books Limilcd ('the charity,) lor thc y¢ar cnded 31 December 2024. Respon5ibllities and basi5 of report The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of thc financial statements. The trustee5 consider that an audit is not rcquired for this year under section 144(2) of the Charities Act 2011 {the 2011 Act) and that an independent examination is nccded. Having satisfied myself that the charity is not subjcct lo audit undcr company law and is eligiblc for independcnt examination. IL is my responsibility lo.. examine the accounts under section 145 ot'the 2011 Act; follow the procedurcs laid down in thc Gener&1 Dircclions given by the Charity Commission under section 145(51(b) of the 201 l Act; and to state whether particular matters havc come to my attenlion. Independent examlner's statement In connection wi(h my cxamination, no matter has come to my attcnlion.. (l ) which gives me reasonable cause to bclieve that in any material respect the irquiremcnls: to keep accounting records in accord8nce with seLlion 386 uf the Companies Act 2006. dnd to preparc account5 which accoi'd with the accounting records, comply wilh the accountin8 rcquiremenls of section 396 of thc Cumpanies Act 2006 have not bccn met, or (2) to which, in my opinion, attention should be drawn in order tu cnable a proper understandin8 of ihe accounts to b¢ re&¢hed. Mr S Tharby FCA Independenc Examiner For and on bchalt of Sireets Chartered Accounllts 3 Wellbrook Court Girton Cambridge CB3 ONA
Grove Books Limited Company Limited by Guarantee St#tement of Financial Aetlvities (including income expenditure aecount) Year ended 31 Dtcember 2024 2024 Restricted funds TotAI funds 2023 Unrestricted funds Total funds IYot¢ Intome and endowments Donalions and legacies Charitsble activilies Invcstment income Other income 2,500 2,500 92,314 10.000 102.441 75 829 92,314 603 603 Total income 92.917 2,500 95,417 13,345 Expenditure Expendituie on charitable &ctivitie5 Total expenditure 9.10 107.133 107,133 107,917 107.133 107,lJ3 107,917 Net (expenditure)Ancome and net movement in funds (14,216) 2,500 (11,716) 5,428 Reconelllation of funds Total funds brought fon¥ard Total funds carried forward 38.014 38,014 32.586 23.798 2,500 26,298 38.014 The statement of linancial activities includes all gains and losses recognised in the year. All income and expcnditurc derive from cuntinuing activilies. The notes on page5 8 to IS forni part of these financial statements.
Grove Books Limited Company Limited by Guarantee Statement of Finaneial Position 31 December 2024 2024 2023 Note Fixed assets Tangible fixed assets 16 958 1.208 Current assets Siock5 Debtor5 Cash ai bank and in hand 17 18 24,254 3,407 19,193 24.394 2.520 30.161 46054 57.075 Creditors: amounts falling due wlthin ont year 19 21,514 20,269 Net current assets 25?40 36,806 38,014 Total assets less Current li4billtles 26,298 Net a$$ets 26,298 38.014 Funds ofthe eharlty Restriclcd lunds Unrestricted funds 200 23,798 38,014 Total charity funds 20 26,298 38.014 For the year ending 31 Deccmber 2024 thc LhariLy was cnLitlcd exemption from audit undcr Section 477 of the Companies AGI 2006 rclating to small companies. Directors, responsibilities: Thc members have not requircd the company to obtsin an audit of ils financial Statements for the year in qucstion in accordance with section 476. The directors acknowledge their rcsponsibilitie5 for complying with the reqUireMt5 of the Act with rcspecl to accounting records and the preparation of financial slaiements. Thcse financial stalemenls have been prepared in accordance with the provisions appliLablc to Companies subject to thc small companies, regime. The statement of financial position continuc5 on the following pag¢. The llote5 on pages 8 to 15 forni part of the5¢ financial statement5.
Grove Books Ltmited Company Limlted by Guarantee stenllt ofFknandg1 Po8ltlon (¢oMdwd) 31 De¢ember 2024 nd are sigoed oll behalf ofthe board by. R¢vdiQSi The lloteJ oll p2ge8 8 to 15 fom part of these Ilna•¢knl s¢8tement&
Grove Books Limited Company Limited by Guarantee Notes to the FinanciAI Statements Ytr ended 31 December 2024 GeDero1 information The charily is a private ¢ompany limit¢d by guarant¢o. registered in England and Wales and a registered charily in England and Wales. The address of the registered office is Ridley Hall, Ridley Hall Road. Cambridge, CB3 9HU. United Kingdom. Statement of complianee These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in thc UK and the Republic of Ircland,, the Statement of Recommendcd Practice applicable lu charities preparing their &ccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006 and the Charities Aci 2011. Accounting pollcies Ba8ls of preparatlon The financial statements have been preped on the historical cost basis. The financial stalcments are prepared in sterling which is the functional rrettcy of the enlity. Golnz concern Thcre are no material unLertainlies aboul the charity's ability to conlinuc. Disclosure exemptlons The entity salistlCS the criteria of being a non-large charily as defined in Charity SORP (FRS 102). As su¢h, advantage has becn iaken ot'th¢ following disclosure exemptions avail¢iblc'. (a) No cash flow statement has been presented for the company, Fund aeeountlng General fijnds are unrestrictcd funds which are available for use at ihe discrction of the trustees in furtherancc ofthe general objectiv¢s of thc charity and which have not bven designaled for oihcr purposes. Income Income is included in the statement ol. financial activitics when entitletnent has passed to the ch&rity, it is probable that the economic benefits assuLiated with the transaction will flow to the charity and the amount can be reliably measured. Thc following specific policies arc applied to particular catcgorie5 of income: income from donations or grants is recognised when thcre is evidence of entitlement to the gitl receipt is probable and its amounl can be measured reliably. legacy income 15 reeognised when receipt is pr()bablc and entitlemenl 15 established.
Grove Books Limited Company Limited by Guarantee Notes to the Financial Statements (collliRMvd) Year ended 31 December 2024 Aceounting policies (¢oMlillued) Income (conllnmedj income from contracts for the Supply of goods or service5 is recognised with the delivcry of the contracted good5 Or services. This is classified as unrestricted funds unless ihere is a contractual requiremeni for it to be spenl on a particular purpose and relurned if unspent, in which case it may be regarded Èis restricted. invcstment income is rccognised in the accounts when it is received. Expendlture Expenditure is recognised on an accrual basis as a liability is incurred. Charitablc expenditure comprises those cost5 ineurred by the charity in furtherancc of the charity, objecLives and represcnt5 the cosl of goods and services and ancillaiy trading costs that have becn ineurred in charitable activities and the costs asso¢iaied with m¥e¢irtg the constitutional and statutory rcquiremenl of the charity. Tt includes both costs that can be allocatcd dir¢¢tly to such aclivitics and Ihose costs of an indirect nature necessary to suppurt them. Tanglble Assets Tangible fixed assets for use by the charity are capiLqli5cd if thcy can be used for more than one ycar and cost dt le&st £l,QOO. They are valued at CQ8t or, it-giftcd, dt the value to the charity on reLeipt. Depretlation r)eprecidtion is calculated so as io write oll. Ihc c05t or valuation of an assct, les5 Its residual value, vvcr the usefjJl economic life of that asset as follows: Office Lquipmcnt 20Yo 5trai8ht line Impalrnient of fixed Assets A review for indicators of impairment is carricd out at each repurtin8 datc, with the recoverable amount being estimatcd where such indicators exist. Wh¢re the carrying value exceeds the rccoverable amount, the asset 15 impaired &ccordingly. Prior impairments arc also reviewed lor p055ible reversal at each reporting date. or the purposes ol impairnient testing, when it is nut POS8iblc to estimate the recoverdble amount of an individual asset, an estimatc is made ot thc recoverable amount of the cash-generaling unit lo whiLh the asset belongs. The cash-generating unit is the smallest identifiable group of assets thal includes the asset and generatcs cash inflows that largely independent of the cash inflows from other assets or groups or assets. Stocks Stock is stated at the lower of cost or net realisable value. The net re&li8ablc value of stock is calculalcd on the basis of two yearg fijture sales on a straight line projcction from thc current year.
Grove Books Limited Compgny Limlted by Guarantee Notes to the Financial St&tement5 {¢willllued) Year ended 31 December 2024 Accounting policies {eoAÉINue&) Taxation No provision has been made for cotpordtion tax or defetTed tax as the charity is a registered charity and is therefore exempt. Financigl Instruments A financial asset or a financial liability is recogniscd only when the entity becomes a party to the contraciual provisions of the instrumenl. Basic financial instruments &re initially reLugnised at the amoun¢ receivable or payable including any related iransaction cost5 and are subsequcntly measured at Ihc cash or oihcr consideration expected to be paid or rcceived and not discounted. Debt insts'uments are subsequcnily mcasured at amortised ¢osL Financial assets thal arc measured at cost or 4iTnorLised c05t arc reviewed for objective cvidenLe or impairnient al Ihc end of Cach rcpcJrtin8 dale. 11- therc is objeclivc cvidence of impaimient, an impairnicnl Ios5 is rccognised under the appropriatc heading in thc slatemenl of financial activities in which the initial gain was recogniscd. Any reversals of impairment are rccogniscd immcdiutcly. iu the extcnt ihat the reversul does not result in carrying amount ol- the tinancial aSt that cxccvds what the carrying amount would have been had the impairment not previously been recugnised. Defined contribution plans Cuntribulions to defined contribulion plans are recoBnised as an cxpensc in thc period in which the related service is provided. Llmlted by Euxrantee The charity is a company limiled by gu&raniee and has no share capital. In ihe cvent of the charity being wound up. the liability in respect of the 8uarAnLee is limited Lo £1 per membcr ofthe charity. Donatlons gnd legacles Unrestricted Funds Restricted Total Funds Funds 2024 Donatlons Donations 2,500 2500 Uni'eslricted Funds Restrictcd Total Funds Fund5 2023 Donations Donations i 0,000 10,000
Grove Books Limited Company Limited by Guarantee Notes to the Financial Statemellts Iconlinmed) Year ended 31 December 2024 Charitable Activities Unrestricied TotAI Funds Funds 2024 Unrestricted Total Funds Funds 2023 Charitable trading incomc 92,314 92,314 102,441 102,441 Investment Income Unrestricted Total Funds Funds 2024 Unrestricted Total Fund&. Funds 2023 Bank interest reccivable 75 75 Other Income Unrestrieted Total Funds Funds 2024 Unrcstricted Total Funds Funds 2023 Royalties Association subscriptions 528 75 528 75 729 100 729 100 603 603 829 829 Expenditure on charltable actlvitie5 by fund type ljnrestricted Total Fund8 Funds 2024 Unrestricled Total Funds Funds 2023 Advancement of the Christian Faith Support custs 54,125 53,008 54,125 53.008 57,660 50,257 57,660 50,257 107,917 107,133 107,133 107,917 10. Expenditure on charitable actfvlties by 4rtivity type Activities undertaken directly Support costs Total fund 2024 Total funds 2023 Advancement of the Christian Faith Governance costs 54.125 50,958 2,050 105.083 2,OSO 105.917 2,000 54,125 53,008 107,133 107.917
Grove Books Limited Company Limited by Guarantee Notes to the Financial Statements (cottiimued) Yexr ended 31 December 2024 11. Analysls of support cost$ Advancement of the Christian Faith Tot212024 To1 2023 Staff costs Premiscs Communications and IT Govcmance costs Other costs 24,478 ,139 616 2,050 17,725 24,478 8,139 616 2,050 17,725 25.095 8.061 419 2,000 14,682 53,008 53,D08 50.257 12. Net (exptnditure)lincome Net (exp¢nditure)lincome is staled after ¥hargingl(creditin8): 2024 2023 Dcprcciation of tangible fixed a55ets 250 42 13. Independent exanJln&tion fees 2024 2023 Fees payable to the indepcndent cxaminer for: IndependenL examinatiun of the fin8llcidl staiemenls 2,050 2,000 'rhe independent examination fees arc lor the costs ol prcparing the financial siatements and the independent examination fee. 14. Staff costs The total staff costs and cmployec benefits for th¢ reporting period are analysed as follow5: 2024 2023 Wages and salarics Employ¢r contributions to pension plans 23,418 1,060 24,109 986 24,478 25,095 The average head count of employee5 during the year w8s 2 (2023.. 2). The &veragc number of full-time equivalent employees during the year is analysed a5 follows: 2024 2023 Administration No employee received employee benefits of more than £60,000 during the year (2023: Nil). 12
Grove Books Limited Company Limited by Guarantee Notes lo the Financi41 Statements Iconlillued) Year ended 31 December 2024 15. Trustte remuDer2tioH #nd expenses The Inistees received no remuneration in carrying out their duties as trusiees (2023.. £Nil). There were no expenses reimbursed to trustees (2023: £Nil). 16. Tangible fixed 4s5ets Equipment Cost At l January 2024 and 31 DeceThber 2024 Depreciation At l January 2024 Charge lor thc year At 31 D¢¢ember 2024 1,250 42 250 292 Carrying amount At 31 December 2024 9S8 At 31 Dccember 2023 1.208 17. Stocks 2024 2023 Goods for resale 24,254 24,394 18. Debtors 2024 2023 Trade dd)r5 Other debtors 2,706 701 1,518 1,002 3,407 2,520 19. Creditors: amounts falling due wlthiD one year 2024 2023 Trade creditors Accruals and def¢td income 2.506 17,763 21,514 21,514 20,269 13
Grove Books Limited Company Limlted by Guarautee Notes to the Flnantlal Statements fcoNiln¥ed) Year ended 31 Deeember 2024 20. Analysis of Charltable funds Unrestritted funds At l January 2024 At 31 December 2024 Income Expenditure General funds 38,014 92,917 (107,133) 23,798 At l January 2023 At 31 December 2023 Income Expcnditur¢ General funds 32,586 113,345 (107.917) 38,014 Restrlcted funds At l January 2024 At 31 Deeember 2024 Income Expenditure Restrictcd funds 2.500 2,500 At l Janudry 2023 At 31 December 2023 Income Expenditure RestriLted tiinds The restrictcd funds is a donation received in the year ended 3 l December 2024 to fund new markcting activity onlinc in ihe year cnding 31 Dccembcr 2025. 14
Grove Books Limited CompaTJy Llmited by Guarantee Notes to the Financi81 StAtements (Co11ed) Ye•r ended 31 December 2024 21. AAlySiS of net assets between funds Unrestrictcd Funds Restric*d Total Funds Funds 2024 Tangible fixed assets Current assels Crcdiiors less than l year 958 44,354 (21,514) 23,798 958 46,854 (21,514) 2,500 Net assets 2,5QO 26,298 Unrestricted Funds Restrict¢d Total Funds Funds 2023 Tangible fixed assets Current assets Creditors les5 than l year 1,208 57.075 (20,269) 1,208 57,075 (20,269) Net assets 38,014 38,014 22. Related parties During the year £5,925 (2023: £6,525) wa5 paid io K Blandford.Baker, spouse of a director and trustee, for typcsetling 5¢fviLes. K Blandford-Baker is aided by Revd N J Blandford-Bakcr, a diryctor and trustcc. As at thc b31ancc sheet date £nil (2023: £nil) was duc to K Blandford-Bakcr. 15