Company registration number: N1650199
Chartty Tegistration number: 107784
Grace Community Church (Ireland) Limited
(A ￿MpanY limited by guarantee)
Annual Rep)rt and Financial Ststements
for the Year Ended 30 September 2023
Thomas Oliver and Associates Limited
Certified Public AGcountant
l Moygashel Mills Park
Dungamnon
Co Tyrone
BT717DH

Grydce Community Church (Ireland) Limited
Contents
Reference and Administrative Details
Trustee5' Report
2to5
Independent Examinevs Report
Statement of Financial Activities
Balance Sheet
Statement of Cash Flows
Notes to the Financia] Ststements
IOto17

Grdee Community Church (Ireland) Limited
Reference and Administrative Details
Charity Registration Number
107784
Company Rtgistratlon Number
N1650199
The charity is incorporated in Northern Ireland.
l Blenheim Court
Richhill
Arnlagh
BT619JH
Registered Office
Accountsnts
Thomas Oliver and Associates Limited
Certified Public Accountant
l Moyg&8hel Mills Park
Dungannon
Co Tyron¢
BT717DH
Page I

Grace Community Cbureb Ureland) Limited
Trustees, Report
The trustees. who aTr directors for the purposes of cornpany law, PTesent the ar]nuaI report together wtth the
fmancial statements of the eharitable ￿MpanY for the year ended 30 September 2023.
Objectives and aetivities
Objeds ond aiv
The charitable purtx)se of Grace Community Church Ureland) Limited is the advancement of the Christian
religion for the benefit of the public in the area of benefiL
The principal fi￿CtiOn is to relieve th¢ proverty and the advancement of education and to provide fa¢ilities in the
interest of welfare with the object of improving the conditions of life for said inh3bitsnts.
Public benefit
The direct benefits flowing from advancement of religion include holding weekly church services, mid week
gatheriThgs and Small groups which are open to anyone.
A direct benefit comes from providing facilities at a community hub in Riclthill. This con]munity space is
place for diifferent groups in the COu￿Ullity to meeL
Trustees and officers
The trustees and offi¢er5 serving during the year and since the year end wer¢ as follows:
Trustees..
Mr Neil Dawson
Mr David Allan McBride
Mr Neville William Garland
The trustees meet regularly to di5CUS5 the broad strategy of the charity.
Ob'ectives and Activiti
The principal activities of the charity are to 5UPPOrt and facilitate the Church, raise awareness and understanding
of Evangelical Christian beliefs and prnctices. Cary out missionary and outreach work within the community
served by the church as well as holding regular public worship services in the context of the Church.
Our o￿lCe and administrative addres5 is l Blenheim Court, Richhill BT619JQ. The main activity of our charity
tak¢5 place at The Hub, Richhill. We have been leasing this building since Nov¢mber 2019. The facilities at The
Hub allow the charity to hold weekly church services, mid week services and youth clubs. The building is aIso
available for community use and is cuThently used by a speech and drama group, a group for those with
additional needs and for group community meetings.
Page 2

Grace Community Church (Ireland) Limited
Tru5t¢es' Report
Finances
Funds are raised by way of contributions, donations, grants and any other lawful method towards the aims of the
Charity. Church attendees give financially on a weekly or monthly basis either in ¢a5h or online. For those
eligible, we are able to claim gift aid on their donations. We have also be able to obtain grants for the youth
work we do and a grant towards building renovations This has allowed us to continue giving funds to th¢
charitable projects we have chosen while still covering the w5ts of leasing and running the Hub.
The charity endeavours to keep a prudent amount in reserve for the cash flow purposes but most funds are spent
in the short tem.
Cbildren and Youth Club
Since September,2021 we have been running weekIy youth clubs for pritnary 6 and 7 and one for 1st to 3rd
years. Across the two pro8Tams we have around 140 children and young people registered. This is also the
second year we have run a community week called I Heart Richhill with a week long progrdm for children and
young people. We have two days of community projects where we do litter picks to clean up th¢ village, a
orning club for primary aged children and evening youth club for high school aged young people.
A new weekly group has stsrted for parents and preschooler5. There is a play space and activtti&8 provided for
the children. tea 2nd coffee is provided for the adults.
We have opened a community prayer space in a small porta¢abin in the grounds of theHub. Prayer is an integ
part of the charity SQ it Wds Ymportant for a space to be created to facilitate thi5 and that will be space for the
whole cornmunity. Going forward the space wiii be used to host monthly prayer days. prayer evmt5 and
availabl¢ to those within our communoity to want to make us¢ of IL
Future Plan
Community engagement has continued to increa8e from last year and the charity feels it is important to keep
focusing funds in the are4 irnproving the existing programs and developing new programs. The Hub building is
limited in space and this can be challenging for the needs of our church. We are lookin8 into other building
possibilities within the village.
Structure? governance and mauageDJellt
Nature ofgoverning docupnent
The charity is a company limited by 8uardtitee, governed by its Memorandum and Articles of Association. It has
been granted charitable sla￿S by The Charities Comrnission for Northern Ireland under registration number
NOC107784.
Financial instruments
Objeclives andpolicial
The charity's activities expose it to a number of financial rtsks including credit risK cash flow risk and liquidity
risk. The use of financial derivatives is governed by th¢ charity's policies approved by the board of t￿stee5,
which provide WTitten principles on the tL8e of financia] derivatives to manage these risks. The charity does not
Use derivative fuwi¢ial knstruments for Speculative puw)ses.
Page 3

Grace Community Church Ureland) Limited
Trustees, Report
Credil risk
The charity's principal fllwiciaI assets are bank balaThces and cath. trade and other ￿e1VableS, and investtnents.
The charity's credit risk is primarily attributsble to its trade receivables. The amounts presented in the balanGe
sheet are net of allowances for doubtful receivables. An allowance for impairnient is made where th¢Te is an
identified loss event Hthich, b&sed on previous experience, is evidence of a reduction in the recoverability of the
h flows.
The ¢redit risk on liquid funds and derivative financial instnllnents is limited because the counterparti&8 are
banks with high credit-ratings assigned by international ¢redit-rnting agencies.
*J•
The charity has no significant ￿nCentratIOn of credit risk, with exposure spread over a large number of
counlerparties and Customers.
Llquidty rLsk
In order to maintsin liquidity to ensure that sufficient funds are available for ongoing operdtions and
developrnents. the charity uses a mixture of long-terni and short-term debt finance.
Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial
statements.
StatemeDt of trustees, respollsibilities
The trustees (who are also the directors of Grace Community Cburch Ilreland) Limited for the purposes of
mpany law) are responsible for preparing the trustees, report and the fm3ncial ststements in accordance with
applicable law and United Kin8dom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice), including FRS 102 "The Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requtres the tn￿teeS to prepare fmancial staternents for each financial ye￿. Under company law
the tnJst¢es must not approve the financial statements unless they are satisfied that give a tTue and fair view
of the state of affair5 of the dwitsble company and of the inc4>ming resources and appIl￿tion of resources,
including its income and expenditEwe, of the charitabl¢ Company for that period. In prq)aring these fmancial
statements. the trustees are required to:
selert suitable accounting policies and apply them consistently.
observe the methods and principle5 in the Charities SORTr.
n￿ke judgements and estimates that are re&80nable and prudent"
state whether applicable accounting standards, Comprising FRS 102 have been followed, subject to any
material departures disclosed and explained in the financial $tstements' and
prepare the financial statements on the going concern b&8is unless it is inappropriate to PTesume that th¢
charitabl¢ company wtll La)ntinue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at
any time the fuwlcial position of tbe charitable company and enable th¢m to ensure that the fmancial statements
comply with the Companies A¢t 2006. They are also responsible for safegu8Tding the &sets of the charitable
company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Pa8¢ 4

L'èiiiiiiuiiily C.'hur&FI (lYelAiid) l.liiiited
'r*¥¥tei:M' l<¢port
rrf Ilie inx1nlo.ii￿ iiiid inti'yity vl. the orJiP)Tal¢ anil fiiiall¥ial IjiribT￿
411al4Eiiys *kb&il£. IR£,i31silioii ¥OVtsriiiiig lh¢ pwugtlou 41."
I r4
v¢d by th¢lNalK,g of th¢ tib&ity oft18 Juh¢ 2024 ii"Atd 115 tl¥'i141fb..:
I¢L

Grace Community Church ￿reland) Limited
Independent Examiner's Report to the trllstees of Grace CoD]munity Church Ureland)
Limited ('the Company,)
I report to tbe charity trustees on my examination of the ￿¢{)unts of the Company for the year ended 30
September 2023.
Respective respollsibiiitie5 of trustees and examiner
As the charity'5 trustees of Grace Community Church (Ireland) Limited (and also its directors for the purposes
of company law) you are responsible for the preparation of the accounts in a¢eordance with the requirements of
the Charities Act (Northem Ireland) 2008.
Having satisfied myself that the ac￿Unts of Gra¢e Community Church (Ireland) Limited are not required to be
audited under sertion 65 of Charities Act (Northern) Ireland 2008 and tbat an independent examination is
needed. It is my responsibility to:.
- exarnine the accounts under section 65 of the Charities Act
- to follow the pro¢¢dure5 laid do￿ in the general Directions given by the Charity Commission for Northern
ITetand under section 65 (9)(b) of the Charities Act
- to state whether particular matters have come to my attention
Basis of Independent Examiners, Report
I have examined your charity aceounts as required under section 65 of th¢ Charities Act and my examination
wa5 ca￿led out in accordance with the general Directions given by the Charity Commission for Northern Ireland
under section 65(9)(b) of the Charities ACL
An examination included a review of the accounting records kept by the charity ond a comparison of the
accounts presented Hith those records. It also included considerdtion of any unusual items or dis¢losur¢s in the
accounts, and 5¢eking expalnation5 from the trustees concerning any such matters.. l ¢onfimi th&t no matters
have come to my attention in ¢onn¢¢tion viith the examination giving me cause to belicv¢:
l. That accounting re¢ords wer¢ not kept in respect of Grace Community Chwch (Ireland) Limited
required by section 63 of the Charities Act. or
2. That the accounts do not ac￿rd with thos¢ rec4)rds' or
3. That the accounts do not comply with the accounting requirements of the Charities ACL
4. That there is Sjrther infonnation needed for a proper understandtng of the accounts tobe reathed.
IndepelldeDt Examfiner's Statement
I have wmpleted my examination and have no concerns in respect of th¢ matter (l) to (4) listed above and in
connections with the following directions of the Charity Commission for Northern treland, I have found no
matters that r¢quire drawing to your attention
Associates Limited
ertified Public Accountant
18 June 2024
Pagc 6

Grace Community Church (Ireland) Limited
Statement of Financial Activities for the Year Ended 30 September 2023
(Including Income and Expenditure Account and StatemeDt of Total Recognised Gains
and Losses)
Unrestrittrd
Totsl
2023
Note
Income xnd EndOY￿1tnts from:
Donations and legacies
52.765
52.765
Totai incA)rne
52,765
52,765
Expenditure on:
Raising funds
Charitable activities
(42,952)
(1.228)
(42,952)
(1.228)
Total expenditure
(44,180)
44,180)
Net income
8.585
8.585
Net movement in funds
8,585
8,585
Retoneiliation of funds
Total funds brought fon¥ard
23,828
23,828
Totai fimds carrted forward
li
32,413
Unrestricted
funds
32,413
Total
2022
Not¢
Income 8nd Endovrnents from:
Donations and legacies
Total incorne
48,929
48,929
48,929
48,929
Expendsthre on:
Raising fi￿dS
Charitable activities
{46,469)
(789)
(46,469)
(789)
Total expenditure
47,258
(47,258
Net income
1,671
1,671
Net movement in fimds
1,671
1,671
RecoDciliatioD of ￿ndS
Total funds brought forward
22,157
22,157
Total funds Ca￿led forward
li
23,828
23,828
All of the charity's activities dertve from continuing operations during the above tsvo periods.
Th¢ fimds breakdown for 2022 is shown in note 11.
The notes on pages 10 to 17 form an integral part of the5¢ financi￿ statements.
Page 7

Grace Cowiifruulty C'h4rth (Irelaud) Limlt
(Kegistralivii iiiiii1l￿r. NIfjs0199)
Btslakncr Sheet #s at 30 S¢pi*uber 2023
2023
N(*te
4sstls
T#ng&bl#
CMrreHI •is¢li
C&4h &1 burnk Olld in httaa
SlJ7
4J64
26,716
20.406
io
942
2A716
32.413
9$5ets
23,8?8
Fundi oTthe ¢barfty:
V¥r*strS¢led roads
33.415
32AI3
23,828
21828
f4Fhds
li
[>or tha fin)n¢ial ytar 30 SttpLenth¢r 2023 Ihc %harity was ¢nlltlcd to ¢xempfioll fmm audft undr*
477•1th¢ Comp¥M¢s Acl 2(K16 rol&tityg to 8EnaU ¢¢)mpalllcs.
ThC.a5¢rn￿￿ baye wl rwuircd ths clwity lo obt¥in uudil Dr Its acM'uaty fox th¢ y£ar in I
AccordAnc¢.with scctiou 476;
The (firtLtorn ackn(pwledg¢ th¢ir r¢s￿￿$¥b￿l(l￿ for o)Mptyins with thè rwulrnnents ofihe Ala rospcct
to ¢¢4ohti and th#pr4P*irbtioD ofacwuats.
7 ¢0 17 wcr¢ approvc41 by th¢ tr￿, aud tbrlsyutt vn 18 Jwitt
2fj24 #od sign
MrNe
Illc VIIIT
'I*GMo&Y 1010 17 fomi o£thts¢ fiitanoibl fjialtanf)ttts,

Grnce Community Cburcb (Ireland) Limited
Statement of Cash Flows for the Year Ended 30 September 2023
Z023
2022
Nots
C95h floivs from operating activities
Net cash income
8,585
1,671
Adjustments to cash flows from non-casb items
Depreciation
1,244
672
9,829
2,343
Working capitsl adjustments
Decrease in debtors
Decr¢as¢ in creditors
12,469
(432)
io
(942
Net cash fIows from operating activities
8,887
14,380
Casb flows from investkng activities
Purchase of tangible fixed assets
(2.517)
(3,184)
Net increase in cash and cash equivalents
Cash and c8sh equivalents ￿ l October
6.370
11,196
20,406
9.210
Cth and cash equivalents at 30 September
26,776
20.406
All of the ¢ash flows are derived from continuing operations during the above two periods.
The notes on pa8es 10 to 17 fr>rni an intesrnl part of th¢s¢ financial statem¢nts.
Page 9

Grace Community Church ￿reland) Limited
Notes to tbe Financial Statements for the Year Ended 30 September 2023
I Charity status
The charity is limited by guarantee. incortKyrated in Northern Irelanl and consequently does not have share
capitsl. Each of the trustees is liabl¢ to contribute an amount not exceeding £Nil towards the assets of th¢ charity
in the event of liquidation.
The address of its registered office 15:
l Blenheim Court
Richhill
Amagh
BT619JH
These fllwicial statements were authorised for issue by the trustees on 18 June 2024.
2 Aetounthig polieies
Summary of5igDificant accountillE policles and key atcounting estimytes
The principal accounting w)licies applied in the preparation of these financial statements are set out below.
These policies have been consistentty applied to ail the year5 presented, unless otherwise stated.
Statement of eomplianee
The f]nancial statements have been prepared in accordance with Accounting and Reporting by Charities..
Ststemenl of Recommended Pr&ctsce (applicable to clwities preparing their a￿oUnts in accordamce with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019)
- (Charities SORP (FRS 102)), the Financial Reporting Standard appli¢able in the UK and Republic of Ireland
(FRS 102) 2nd the Companies Act 2006.
B#si5 of prep2rgtion
Grace Community Church (Ireland) Limited meets the defmition of a public benefit entity undw FRS 102.
Assets and liabilities are initially recogtkised at historical cost or transaction value unless otherwise stated in the
relevant acwunting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue &8 a going
¢xincern nor any significant areas of uncertainty that affect the cwing value of ass¢ts held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, tt is probable that the income will be
received and the amount of the income receivable can be meLsured reliably.
Donations and legacl
Donations are reCO￿lSed when the charity ha5 been notified In writing of both the amount and settlement date.
In the event that a donation is subject to conditions that require a level of perfomwice by the charity before the
charity is entitled to th¢ fijnds, the income is deferred and not recognised until cith¢r those conditions are fjjlly
met. or the ￿lfilment of those conditions 15 wholly within the control of the charity and it is probable that these
conditions will be fulfilled in the reporting period.
Page 10

Grace Community Church (Ireland) Limited
Notes to the FiDancial Statements for the Year Ended 30 September 2023
Grants receivoble
Grants are recognised when the charity has an ¢ntitl¢rnent to the fimds and any conditions linked to the grants
have been met. Where perforniance conditions are attached to the grant and are yet to be mel the in(x)me is
recognised as a liability and included on the balance sheet &8 defetred income to be released.
Expenditure
All expendibjre is re¢oEnised once there is a legal or constructive obligation to that expenditure. it is probable
s¢ttlement 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. Where costs cannot be directly attributed to
particular headtngs they have been allocated on a basis consistenl with the use of resources, with central staff
costs allocated on the basis of time spenL 2nd depreciation charge5 allocated on the portion of thc wet's use.
Other support costs are allocated based on the spread of staff costs.
Raisingfunds
These are costs incu￿ed in attracting voluntary income, the management of investments and those Incu￿ed in
trading activities that raise funds.
Support costs
Support costs include central fijnctions and have been allocated to activity cost categories on a basis consistent
with the use of re50urces, for example, allocating property costs by flrjor area5, or per capit4 staff costs by the
time spent and other costs by their usag¢.
Governonce costs
These include the costs attributable to the charity's compliance with constitutional and ststhtory rquirements,
including audiL strat¢gi¢ n]anagement and tntstee5 meetings and reimbursed expenses.
Governmeknt grants
Government grants are recognised based on the accrual model and are measured at the fair va]ue of the asset
r￿e1ved or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue
are recognised in incorne over the period in which the related costs are recognised. Grants relating to assets are
recognised over the expected ￿8eful life of the &sseL Where part of a grant relatin8 to an asset is deferred, it is
recognised &$ deferred income.
T￿atiO
The ckLarity is COD5idered to pass the tests set out in Pardgrnph I Schedule 6 of the Finance Act 2010 and
therefore it meets the definition of a tharitable company for UK CQTpofdtion tax purposes. Accordingly, the
harity is Potentially exempt from taxation in respect of income or capital gain5 received within categories
covered by Chaptsr 3 Part I l of the Corporation T&x Act 2010 or Sertion 256 of the Taxation of Chargeable
Gatns Act 1992, to the extent that su¢h income or gains are applied exclusively to charÉtable purposes.
Tangible fixed assets
Individual fLxed assets costing £0.00 or more are initially recorded at cos¢ les5 any 5ub5equent accumulated
depreciation and subsequent accumulated impainnent losses.
Depreciation and 4JJJortisation
Depreciation is provided on tangible fixed assets so to NNTite off the cost or valuation, l&%s any estimated
residual value, over their expe¢ted useful economic life as follows:
Page 11

Grace Community Church (Ireland) Limited
Notes to the Financial Statements for the Year Ellded 30 September 2023
Asset class
Furnittwe and equipment
Depreciation method And rxte
20 /0 straight line
C&sh and tash equivalents
Cash and cash equivaIents comprise cash on hand and call deposits, and other short-temi highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
change in value.
Borrowings
Interest-bearing bo￿owing3 are initially recorded at fair value, net of transaction costs. Interest-bearing
bOrro￿￿ng5 are subsquendy caTried at amortised cosl with the difference between the proceeds, net of
transaction costs. and the amount due on redemption being recoguised as a charge to the Statement of Financial
Activtties over the period of the relevant borrowing.
Interest expense is recogtlised on the basis of the effective interest method and is included in interest payable
and similar charges.
Borrowin85 are classified as current liabilitie5 unless the charity has aTh un¢onditional right to def¢r settl¢ment of
the liability for at least twelve months after the Teporting date.
Fund structure
Unrestricted income ftjnds are general funds that are available for use at the trustces disrtion in furtheranG¢ of
the objectives of the charity.
3 Income from donlltions and legaclts
Unrestricted
nds
General
Total
fi￿dS
Donations and legacies.
Donation5 from individuals
Grants, including capital grants.
Governtnent grdnts
42.385
42.385
10,380
10,380
Total for 2023
52.765
52,765
Total for 2022
48.929
48.929
Pagc 12

Grace Community Church Ureland) Limited
Notes to the Financial Ststements for the Year Ended 30 September 2023
4 Expenditure oll raising funds
a) Costs of generating donations and legatie
Unrestricted
Dds
G¢Der41
Totsl
funds
Nots
Donations
Marketing and publicity
Depreciation, amortisation and other similar costs
Allocated supp)rt costs
13.660
loo
1,244
27,948
13,660
loo
1,244
27,948
Total for 2023
42,952
42,952
Total for 2022
46,469
46,469
Total
eosts
5 Expenditure on th*ritable activities
Unrestricted
funds
General
Totsl
nds
Note
Governance costs
1,228
1,228
Total for 2022
789
789
Total
expenditsre
In addition to the expenditure analysed above, there are also governance costs of £1228 {2022 - £789) which
relate directly to charitable activities. See note 6 for further details.
Page 13

Grace Community Church (Ireland) Limited
Notes to the Financial Statements for the Year Ended 30 September 2023
6 Allalysis of governanee and support ¢05tS
Rgising fullds expenditure
Costs of gellerating dollations and It￿¢1¢$
Unrestricted
funds
General
Totsl
funds
Total for 2022
31.795
31.795
Governance Costs
Unrestricted
funds
General
Totsl
funds
Independent examiner fees
Examination of the fu]allcial statements
Legal fees
Other governance costs
822
405
822
405
Total for 2023
1,228
1,228
Total for 2022
789
789
7 Tax4tion
The tharity is a Tegistered charity and is therefore exempt from tsxation.
Page 14

Grace Community Church ￿re1alld) Limited
Notes to the Financial Statements for the Year Ended 30 September 2023
8 Tangible fixed assets
Furnlture and
equipment
Totsl
Cost
At l October 2022
Additions
5,596
2,517
5.596
2,517
At 30 September 2023
8,113
8.113
Depreciatio
At l October 2022
Cbarge for the year
1232
1244
1,232
At 30 September 2023
2.476
2,476
Net book value
At 30 September 2023
5,637
5.637
AI 30 September 2022
4,364
4,364
9 Casb ¥nd easb equfvalents
2023
2022
Cash at bank
26,776
20,406
10 Creditors: Amounts f4lling due within one year
2023
2022
Accruals
942
Pag¢ 15

Grace Community Church (Ireland) Limited
Notes to the Financial Statements for the Year Ended 30 September 2023
11 Funds
Balance at 30
September
2023
Balance at I
October 2022
Incoming
reSOIErces
Resources
expended
Unrestricted funds
General
23.828
52,765
(44.180)
32,413
Balance at 30
September
2022
Balance at I
October 2021
Incoming
resource5
Resour¢
expended
Unrestrieted fi￿d5
General
22,157
48,929
(47,258)
23,828
12 Analysis of net assets between fuDds
Unrestricted
funds
General
Total funds at
30 September
2023
Tangible fixed assets
Current ￿Sets
5.637
26.776
5,637
26,776
Total net assets
32,413
32,413
Unrestricted
futtds
General
Total funds at
30 September
2022
Tangible fixed assets
Current assets
Current liabilities
4,364
20.406
942
4,364
20.406
942)
Total n¢t assets
23.828
23,828
Page 16

Grace Community Chureh Oreland) Limited
Notes to the Financial Statements for the Year Ended 30 September 2023
13 Analysis of net fuDds
At30
September
2023
At l October
2022
Cash at bank and in hand
20,406
20.406
Net debt
20,406
20,406
At30
September
2022
At l October
2021
Cash &t bank and in hand
9210
9,210
Net debt
9210
9.210
Page 17