Grace Community Churcb (Ireland) Limited
Trustees, Report
The trustees, are dire¢tot5 for the purposes of company law, present the annual report together with the
financia] statements of the ckwitable company for the yeaT ended 30 September 2022.
Objectives and activities
Objects and ainL
The charitable pU￿oSe of Grace Community Church (Ireland) Limited is the advancement of the Christian
religion for the benefit of the public in the area of benefit.
The principal fiinction is to relieve the proverty and the advancement of education and to provide facilities in the
interest of welfare with the object of improving the conditions of life for said inhabitants.
Public benefil
The direct benefits flowing from advancement of religion include holding weekly church services, mid week
gatherings and small group5 which are open to anyone.
A direct benefit comes from providing facilities at a community hub in Richhill. This community spa¢¢ 15
place for diifferent groups in the collllnunity to meeL
Trnstees And officers
The trustees aryd officers serving during the year and since the year end were as follows:
Trustees..
Mr Neil Dawson
Mr David Allan M¢Brid¢
Mr N¢vill¢ William Garland
The trustees meet regularly to discuss the broad strategy of the charity.
Ob'ectives and A¢tivities
The principal activities of the charity ar¢ to SUPPOrt and facilitate the Chwch, raise awareness and understsnding
of Evangelical Christian beliefs and prdctices. Cary out missionary and outreach Work within the community
served by the church as well &$ holdin8 regular public worship 5ervic¢5 in the context of the Church.
Our office and administrative address is l Blenheim Courl Richhill BT619JQ. The main activity of our charity
t2k¢s place at The Hub, Richh&ll. W¢ have been leasing this building since November 2019. The facilities at The
Hub allow the Gharity to hold weekly church services, mid week services and youth clubs. The building is also
available for community use and is currently used by a speecb and dram& group, a group for those with
additional needs and for group ci)mmunity meetings. Since last year. with the relaxing of Covid-19 restriction
we have seen growth in the number of ￿mMunity groups using the Space both on a weekly basis and for one off
events. We have been able to provide the spac¢ to our local primary school to support their Ditch the Dark ¢v¢nt
and h05ting a market event for the primary 6 Business Beginning5 class to sell products they have created.
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Grnce Community Church (Ireland) Limited
Trustees, Report
Funds are raised by way of contributions, donations, grants and any other lawfjJl method towards the aims of the
Charity. Since retumtng (after relaxing of Covid-19 restrictions) to ttleeting in person we have seen a slight
increase in the fmancial giving through the weekly offering from the church. However the cost of living crisis
has had an irnpad on how much those within the church are able to give. The 5ignifact increase in the Gost of
electricity in particular h&8 negatively affected our finances.
We were, however, able to obtain grants from EA amd ABC Council towards the running costs of the youth
club. We also received a grant to help with renovations to the kitchen in the Hub. This has allowed us to
continue sending funds to the charitable projects we have chosen while still covering the costs of leasing and
rLll)ning The Hub. The charity endeavours to keep a prudent amount in reserve for the cash flow purposes but
most fimds ar¢ Spent in the short t¢rn].
Youth Club
As of September.2021 we have been running 2 weekly youth clubs one for primary 6 and 7 and one foT 1st to
3rd years. There has been a siglltficant response to this with arouud 130 youllg people attending between the two
sessions. This in an in¢reas¢ of 50 young people from the previous year.
These youth Clubs have greatly benefitted the young people in the area because of the rural setting there are
limited activities and resources available to them.
Future Plans
In the n¢xt year ￿ would like to have a d¢di¢ated prayer room in our Hub building that will be open to all th¢
churches in our community to help improve relattons between the different churchs and denominations.
The charity is seeking to continue increasing its community engagement. We have already seen how valuable
the youth clubs have been and the charity is seeking to continue to develop new pro8rdms for young people and
their families as well as other people within the community.
Structur4 governance and maDaEement
Nathre ofgoverning document
The Gharity is a wmpany limited by guarantee, governed by its Memorandum and Articles of Association. It has
been granted charitable status by The Charities Commission for Northern Ireland under r¢gistr*ion number
NOC107784.
FiDancial instruments
Objectiva dndpolldes
The charity's activities expose it to a number of flliancial risks including credit risk, cash flow risk and liquidity
risk. The us¢ of fillanci￿ derivative5 is governed by the charity's policies approved by the board of trustees,
which prnvide written principles on th¢ use of financiai derivativcs to manag¢ th¢se risks. The tharity does not
use derivative fmancial instruments for speculative purposes.
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Grace Community Church ￿reland) Limited
Trustees, Report
Credtl ruk
The charity's principal fll]ancial assets are bank balances and cash. trade and other receivables, and investments.
The Charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance
sheet are net of allowances for doubtfill receivables. An allowance frir irnpainnent is made where there is an
identified loss event which, based on previous experience. is evidence of a reduction in the recoverability of the
cash flows.
The credit risk on liquid fimds 3nd derivative financial instrLunents is limited because the eounterparties are
banks with high credit-ratings assigned by international CTedit-rating agencies.
The charity has no significant conwitration of credit risK with exposure spread over a large numb£r of
unterparties and custr)mers.
Llquidity rifk
In order to maintain liquidity lo ensure that sufficient fimd8 are available for ongoing operations and future
developments, the charity u5e5 a mixtilre of long-terni and short-tenn debt finance.
Further detsils regarding liquidity risk can be found in the Statement of accounting policies ID the fjnancial
statements.
Statement of trustees, responsibllities
The ttijstees (who are ￿s0 the directors of Grace Community Church (Ireland) Limited ftir the pU￿OseS of
mpany law) are responsible for preparing the trustees, report and the financial statements in accordance ￿7th
applicable law and United Kingdom Accounting Standar(ts (Unifrd Kingdom Generally Accepted Accounting
Practice), includtng FRS 102 "The Financial Reporting Stand8rd applicable in the UK and Republic of Ireland"
Cornpany law require5 the trustees to prepare fman¢iai ststements for each financial year. Under company law
the tnjstees 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 charitable company and of the incoming resources and application of resources,
including its income and expenditure. of the charitable company for that period. In preparing these financial
statements. the trustees are required to-.
select suitable accounttng policies and apply thern ￿nsistentIy.
observe the methods and prtnciples in the Chartties SORP.
rnake judgements and estimates that are reasonable 2nd prudent.
state whether applicable accounting standards. comprising FRS 102 have been followed. subject to any
matertal departures disclosed and explained in the financial statements" and
prepar¢ th¢ financial statements on the going ¢on¢ern basis unless it is inappropriate to presume that the
charttable company will ¢ontinue in business.
The tn￿eS are responsible for kwing proper accounting records that can disclose with reasonable accuracy at
any time the financial position of the charitable company and enable them to ensure that the fmancial sLqternents
cornply with the Companies Act 2006. They aTe also responsible for safeguarding the assets of the charitable
mpany and hence for taking reasonable steps for the prevention and detedion of fraud and other irregulariti¢s.
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Grace Community Church (Ireland) Limited
Trnstees, Report
The Inistees are responsible for the maintenance and ithgrity of the coryornts alld SE￿]CIal information
in¢luded on the chaTitable CO￿panY'S website. Lwslation governing the preparation alld dissemination of
financid statsmeots may differ from legislation ijj other jwisdirtiolls.
ed by the trustees of the cbarity on 22 Jjme 2023 and Si￿ed on its behalf by:
Tn
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