Grace Community Church (Ireland) Limited Trustees, Report The tsvstees, who are dlrectors for the PUTposes of company law, PTesent the annual report logether with the financial statements of the charitable company for the year ended 30 September 2023. Objectives and aetivitAts Objects and aims The charitable purtK)se of Grace Cornmunity Church (Ireland) Limited 15 the advancement of the Christian religion for the benefit of the public in the area of benefiL The principal fijnction 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 benefit The dirert benefits flowing from advancement of religion include bolding weekly church servi¢es. mid week gatherings and small groups which are open to aThyor4e. A direct benefit comes from providing facilities at a community hub in Richhill. This community space is a plaGe for diifferenl groups in the community to 2neeL Trnstees and officers The trn5tees and officers serving during the year and since the year end were as follows: Tst¢es. MrNeil Dawson Mr David All McBrid¢ Mr Neville Williarn Garland The tnjstees meet regularly ts) diswss th¢ broad strategy of the charity. The principal activities of the charity are to support and facilitate the Church, raise awareness and understanding of Evangelical Christian beliefs and practices. Carry out missionary and outreach work within the community served by the church as well as holding regular publiG worship services in the context of the Churcb. ¢ad uart¢r5 Our office and administrative address is l Blenheim CourL Richhill BT619JQ. Th¢ main a¢tivity of our ¢harity tskes pl¢ at The Hub, Ridthill. We have been leasing this building slnce November 2019. The facilities at The Hub allow the charity to hold weekly thurch services, mid week services and youth clubs. The building is also available for community use and is currently used by a speech and drama group. a group for those wtth additional needs and for group community meetings. Page 2
Grace Community Church re[and) Limited Trustees, Report Finances Fund8 are raised by way of contributions, donations, grants and any other laMful method towdrds the aims of the Charity. Church attendees give financially on a weekly or monthly basis either in cash or online. For those eligible. we are able to claim gift aid on their donations. We have also be able to obtsin grants for the youth work we do and a grant towards building renovations This has allowed to o)ntinue giving fuuds to th¢ charitable projects we have chosen while still covering the costs of leasing and nllming the Hub. The charity endeavour5 to keep a pNdent arnount in reserve for the cash flow purposes but most funds are spent in the short tern]. and Youth Club Since September,2021 we have been running weekly youth clubs for primary 6 and 7 and one for 1st to 3rd years. Across the tsvo programs we have aUnd 140 children and young people Tegistered. This is also the second year we have run a community week called l Heart Riclthill with a week long program for children and young people. We have two days of community projects where we do litter picks to clean up the village, a moming club for primary aged children and evening youth club for high school aged young people. A new weekly group has started for parents and preschoolers. There is 3 play 5pac¢ and activities provided for the Childre tea and coffee is provided for the adults. ace We have opened a community prayer space in a small portacabin in the grounds of th¢Hub. Prnyer is an integral part of the charity so it was important for a space to be created to facilitate tbi5 and that will be space for the whole comrnunity. Going fonvard the space Thill be used to host monthly prayer days, prayer events and availabl¢ to thos¢ within our communoity to want to make use of it. Future Plan Community engagement has continued to increase from l&st year and the charity feels it is important to keep focusing funds in the are4 improving the existing progfdms and developing new programs. The Hub building is limited in space and this can be challenging for the need8 of our church. We are looking into other building po&8ibilities within the village. structur governance and management Nature ofgoverntng document The Gharity is a company limited by guarantee. governed by its Memorandum and Articles of Association. It has been granted ckLaritable status by The Ckwities Commission for Northern Ireland under registration number NOC107784. FiD4ncial instruments Objecilves andpolicies The charity's activities exFM)se it to a number of financial risks including credit risk. cash flow risk and liquidity risk. The use of financial derivative5 is governed by the charity's poli¢i¢s approv¢d by the board of trustee5, whi¢h provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative fmancial instsutnents for speculative purposes. Page 3
Grace Community Church Oreland) Limited Trustees, Report Credit risk The charity's priThcip financial assets are bank balances and Cash, trade and other re1vableS, and investments. The charity's credit risk is primarily attributable to Its trade Teceivables. The amounts presented in the balance sheet are net of allowances for doubtful 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 funds and derivative financial instruments is limited because the unteTpart7eS are bank5 with high credit-ratings &8signed by international credit-rating agencies. The charity has no significant concentration of credit risL with exposure spread over a large number of counterparties and customers. Liquidity risk In order to maintain liquidity to ensure that suffictent funds are available for ongoing operations and fLrture developments, the charity uses a mixtiwe of long-tern and short-tenn debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the flnancial statements. StstemeDt oftrustees, responsibilities The trustees (wbo are also the directors of Grace Community Church (ITeland) Limited for the purpose5 of company law) are responsible for preparing the trustees, report and the fmancial 5tatem¢nts in accordan¢e with applicable law and United Kingdom Accounting Standard5 (United Kingdom Genera]ly Accepted Accounting Prathice). in¢Ruding FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. Conipany law requires the trustees to prepare fmanciat statements for each financial year. Under company law the trustees must not approve the financial slalements unless they are satisfied that they giv¢ a twe and fair view of the stste of affalrs of the charitable wmpany and of th¢ incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial stalements. the trust¢es ar¢ required to: select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimatss that are reasonable and prudent" state whether applicable accowiting standards, comprising FRS 102 have been followed. subject to any material departures disclosed and explained in the financial statements" and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitsble MpanY will continue in business. The trustees aTe reswjnsible for keeping proper accounting records that can disclose reasonable accuracy at any time the fmancial position ofthe charitsble company and enable thn to ¢nsure that the fu]ancial statements C4Jmply with the Companies Act 2006. They are also responsible for safeguarding the &8sets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud 8nd other iesul8ntie5. Page 4
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