Company registration number.. N1650199
Charity registration number.. 107784
Grace Community Church (Ireland) Limited
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 September 2024
Thomas Oliver and Associates Limited
Certified Public Accountant
l Moygashel Mi115 Park
Dungannon
Co Tyrone
BT717DH

Grace Community Church (Ireland) Limited
Contents
Reference and Administrative Details
Trustees, Report
2to5
Independent Examiner's Report
6t07
Statement of FiT]ancial Activities
8t09
Balance Sheet
io
Notes to the Financial Stat¢rnents
11 to 17

Grace Community Church (Ireland) Limited
Reference and Administrative Details
Charity Registration Number
107784
Company Registration Number
N1650199
The charity is incorporated in Northern Yreland.
l Blenheim Court
Richhill
Arniagh
BT619JH
Registered Office
Accountants
Thomas Oliver and Associates Limited
Certified Public Accountant
l Moygash¢l Mills Park
Dungannon
Co Tyrone
BT717DH
Page I

Grace Community Church (Ireland) Limited
Trustees, Report
Th¢ trustees. who are directors for the pU￿oseS of company law. present the annual report together with the
financial statements of the charttable company for the year ended 30 September 2024.
Objectives and activitie$
Objects and aipns
The charitable purpose 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 ￿nctIOn is to relieve the provety and the advancernent of education and to provide facilitie5 in the
interest of welfare with the object of improving the conditions of life for said inhabitants.
Publlc benefil
The direct benefits flowing from advancement of religion include holding weekly church services, mid week
gatherings and small groups which are open to anyone.
A direct benefit comes from providing facilities at a conununity hub in Richhill. This community space is a place for
diifferent groups in the community to meet.
Trustees and o￿l¢erS
The trustees and officers serving during the year and since the year end were as follows:
Trnstees:
Mr Neil Dawson
Mr David Allan McBride
Mr Neville William Garland
The trustees meet regularly to discuss the broad strategy of the charity.
Ob'ectives and Activities
The principal activities of the charity are to support and facilitate the Church, raise awareness and understanding of
Evangelical Christian beliefs and practices. 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.
Head
uarters
Our office and administrative address is l Blenheim Court, Richhill BT61 9JQ. The main activity of our charity
takes place ai The Hub, Richhill. We have been leasing thts building since November 2019. The facilities at The
Hub allow the charity to hold weekly church services, mid week service5 and youth clubs. The building is also
available for community use and is Cu￿entlY used by a speech and drama group, a group for those with additiOT]al
needs and for group community meetings.
Page 2

Grace Community Church (Ireland) Limited
Trustees, Report
Finances
Funds are raised by way of contributions, donations, grants and any other lawful method towards the airns of the
charity. Church attendees give financially on a iveekly or monthly basis either in cash or online. For those eligible
we are able to clatm gifted on their donations. We have also been able to obtain grdnts for the youth work we do and
a grant towards buildino renovations. This has all0￿'¢d us to continue giving ￿ndS to the charitable projects we have
chosen while still covering the cost of leasing and running the hub. The charity endeavours to keep a prudent
amount in reserve for cash flow purposes but most funds are spent in the short tenn.
ChildTen and Youth
Since September, 2021 we have been running weekly youth clubs for primary 6 and 7 and one for I st to 3rd years.
Across the two programs we have around 150 children and young people registered.
This is also the third year we have run a community week called l Heart Richhill with a week lono program for
children and young people. We have two days of community projects where we do litter pt¢ks to clean up the
village, a morning club for primary aged children and evening youth club for high school aged young people.
The weekly parent and toddler group is continuing and has good engagement from the community. There is a play
space and activities provided for the children, tea and coffee is provided for the adults.
One Sunday mornings we have a weekly preschool program. a bi-monthly Sunday school program for primary I
I st years and a monthly breakfast club for high schoolers.
Pra
ers
ace
Last year we opened a community prayer space in a small portacabln in the grounds of the Hub. Prayer is an integral
part of the charity and we have seen people frorn our community engaging in the use of this space. We will continue
to use this space to host monthly prayer days, prayer events and is available to those within our community to want
to make use of it. We hope to increase the use of it in the next year and have more engagement from the local
community.
Future Plans
Cornmunity engagement has continued to increase from last year and the charity feels it is important to keep
focusing funds in the aTea. improving the existincr
PTograms and developing new prograrns. The Hub building is
limited in space and this can be challenging for the needs of our church. We are still looking into other building
possibilities within the village. We are also hoping to develop the outside space we have including Create and open
outdoor room for young people to use during the week as well as making use of it for our community programs.
Strueture? governanee and management
Nature ofgoverning document
The charity is a company 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 registration number
NOC107784.
Page 3

Grace Community Church (Ireland) Limited
Trustees, Report
Financial instruments
Objectives andpolicies
The charity's activities expose it to a number of financial risks including credit risk. ¢&sh flow risk and liquidity risk.
The use of financial derivatives is governed by the charity's policies approved by the board of trustees, which
provide written principles on the use of financial derivatives to manage these risks. The Charity does not use
derivative financial instruments for speculative purposes.
Credit risk
The charity's Principal financial 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 doubtful receivables. An allowance for impaimient 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 Tisk on liquid funds and derivative financial instruments is limited because the CoUnte￿artIeS are banks
with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant conc¢ntration of credit risk, with exposure spread over a large number of
counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that su￿1Clent funds are available for onooing operations and future
developments, the charity uses a mixture of long-term and short-tenn debt finance.
Further detai15 regarding liquidity risk can be found in the Statement of accounting policie5 in the financial
statements.
Staternent of trustees, responsibilities
The trnstees (who are also the dir¢¢tors of Grace Community Church (Ireland) Limited for the purpos¢s of company
law) are responsible for PTeparing the trustees, report and the financial statements in accordance with applicable law
and United Kingdom Accountino Standards (United Kingdom Generally Accepted Accounting Practice), including
FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year. Under company 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 charitable company and of the incoming Tesources and application of resources, including its
income and expenditure, of the charitable cornpany for that period. In preparing these financial statements, the
trustees are required to..
select suitable accounting policies and apply them consistently.
observe the methods and principles in the Charities SORP.
make judgements and estimates that are re&sonable and prudent-
state whether applicable accountinu 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 unles5 it is inappropriate to presume that the
charitable company will continue in business.
Page 4

Grace Comrnunity Church (Ireland) Limited
Trustees, Report
The trustees are responsible for keeping proper accounting records that can disclose with reasonabl¢ accuracy at any
time the financial position of th¢ charitable company and enabl¢ them to ensure that the financial statements comply
with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and
hence for taking reasonable steps for the prevention and detectton of fraud and other irregularities.
The trustees are responsible for the rnaintenance and integrity of the corporate and financial inforniation included on
the charitable company's website. Legislation governing the preparation and dissemination of financial statements
may differ from legislation in other jurisdictions.
The ar￿Ual report was approved by the tnjstees of the charity on 19 June 2025 and signed on its behalf by..
e William Garland
Trustee
Page 5

Grace Community Church (Ireland) Limited
Independent Examiner's Report to the trustees of Grace Community Church (Ireland)
Limited {'the Company,)
I report to the charity trustees on my examination of the accounts of the Company for the yeaT ended 30 September
2024.
Respective responsibilities of trustees and examiner
As the charity's 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 accordance with the requirements of the
Charities Act (Northern Treland) 2008.
Having satisfied myself that the accounts of Grace Community Church (Ireland) Limited are not required to be
audited under section 65 of Charities Act (Northern) Ireland 2008 and that an independent examination is needed. It
is my responsibility to'.-
examin¢ the accounts under section 65 of the Charitie5 Act
to follow the procedures laid down in the general Directions given by the Charity Comrnission for Northern Ireland
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 accounts as required under section 65 of the Charities Act and my examination was
carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland undeT
section 65(9)(b) of the Charities Act.
An examination included a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records. It also included consideration of any unusual items or disclosures in the accounts. and
seeking expalnations from the t￿Stee$ concernino any such matters.. I confinn that no matters have come to my
attention in connection with the examination giving me cause to believe..
l. That accounting records were not kept in respect of Grace Comrnunity Church (Ireland) Limited as required by
section 63 of the Charities Act. or
2. That the accounts do not accord with those records. or
3. That the accounts do not comply with the accounting requirements of the Charities Act.
4. That there is further inforniation needed for a proper understanding of the accounts tobe reached.
Page 6

Grace Conimunity Church (Ireland) Limited
Independent Examiner's Report to the trustees of Grace Community Church Ureland)
Limited ('the Company,)
Independent Examiner's Statement
I have completed my examination and have no concerns in respect of the matter (l) to (4) listed above and in
Connections with the following directions of the Charity Commission for Northern Ireland, I have found no matters
that require drawing to your attention
Iver and Associates Limited
Certified Public Accountant
19 June 2025
Page 7

Grace Community Church (Ireland) Limited
Statement of Financial Activities for the Year Ended 30 September 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains and
Losses)
Unrestricted
funds
Total
2024
Note
Income and Endowments from:
Donations and legacies
Other trading activities
59,306
908
59,306
908
Total income
60,214
60,214
Expenditure on:
Raising funds
Charitable activities
(48,046)
{1,244)
(48,046)
{1,244)
Total expenditure
(49.290)
(49,290)
Net income
10,924
10,924
Net movement in funds
10,924
10,924
Reconciliation of funds
Total funds brought forward
Total funds carried fonvard
32,413
32,413
43,337
Unrestricted
funds
43.337
Total
2023
Note
Income and Endowments from:
Donations and lecracies
52.765
52,765
Total income
52,765
52,765
Expenditure on:
Raisino 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
Reconciliation of funds
Total funds brought forward
Total funds carried forward
23,828
23,828
32,413
32,413
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages I I to 17 forn] an integral part of these financial statements.
Page 8

Grace Community Church Ureland) Limited
Statement of Financial Activities for the Year Ended 30 September 2024
(Including Ineome and Expenditure Account and Statement of Total Recognised Gains and
Losses)
The funds breakdown for 2023 is shown in note I l.
The notes on pages I I to 17 form an integral part of these financial statements.
Page 9

Grace Community Church (Ireland) Limited
(Registration number: N1650199)
Balance Sheet as at 30 September 2024
20?4
2023
Note
Fixed assets
Tangible assets
4.713
5,637
Current assets
Cash at bank and in hand
10
38,624
26,776
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
43,337
32,413
Total funds
43,337
32.41)
For the financial yeaT ending 30 September 2024 the charity was entitled to exernption from audit under section 477
of the Companies Act 2006 relating to small companies.
Directors, responsibilities..
The members have not required the charity to obtain an audit of its accounts foT the year tn question in
accordance with section 476,. and
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and the preparation of accounts.
The fiT]ancial statements on page5 8 to 17 were approved by the trustees, and authorised for issue on 19 June 2025
and Signed on th
beh
f by..
le ivilliam Garland
Trustee
The notes on pages I I to 17 forn] an integral part of these financial statements.
Page 10

Grace Community Church Ureland) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
I Charity status
The charity is lirnited by guarantee, incorporated in Northern Ireland, and consequently does not have share Capital.
Each of the trnstees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the
event of liquidation.
The address of its registered office is..
l Blenheim Court
Ri¢hhil
Annagh
BT619JH
These financial statements were authorised for issue by the trustees on 19 June 2025.
2 Accounting policies
Summary of significant accounting polieies aJ)d key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These
policies have been consistently applied to all the years presented, unless othen¥ise stated.
Statetnent of compliance
The financial stateTnents have been prepared in accordance with Accounting and Reporting by Charities-. Statement
of Recommended Practice (applicable to charities preparing theiT accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)) (issued tn October 2019) - (Charities
SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and
the Companies Act 2006.
Basis of preparation
Grace Community Church (Ireland) Limited meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical c05t or transaction value unless otherwise stated in the relevant
accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going
concern nor any siunificant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity Opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash
flow statement in these financial Statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will b¢
received and the amount of the tncome receivable can be rneasured reliably.
Page I

Grace Community Church (Ireland) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Donalions t7nd legacies
Donations are Tecognised when the charity has 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 perforniaTtce by the charity before the charity
is entitled to the funds, the income is defe￿ed and not recognised until either those conditions are fully met, or the
Ifilment of those conditions is wholly within the control of the charity and it is probable that these conditions will
be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions Itnked to the grants have
been met. Where perfonnance conditions are attached to the grant and are yet to be met, the incorne is recognised as
a liability and included on the balance sheet as deferred incorne to be released.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable
settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure
heading that aggregate similar Costs to that catetsory. Where costs cannot be directly attributed to particular headings
they have been allocated on a basis consistent with the use of resources. with central staff costs allocated on the
basi5 of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are
allocated based on the spread of staff costs.
Raisingfunds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in
trading activities that raise funds.
Support costs
Support costs include central functions and have been allocated to activity cost cateoorie5 on a basis consistent with
the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent
and other costs by their usage.
Governance costs
These include the costs attributable to the charity's compliance with constitutional and statutory requirements,
including audit, strategic management and trustees rneetings and reirnbursed expenses.
Government grants
Government grants are recognised based on the accrual Tnodel and are measured at the fair value of the asset
received or receivable. Grants are classified a5 relating either to revenue or to assets. Grants relating to revenue are
recognised in income over the period in which the related costs are recognised. Grants relating to assets are
recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is
recogni5ed as deferred income.
Page 12

Grace Community Church Ureland) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Taxation
The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 201 O and therefore it
meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially
exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I I
of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that
such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £100.00 or rnore are initially recorded at cost, less any subsequent accumulated
depreciation and subsequent a¢curnulated impainnent losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual
value, over their expected useful econornic life as follows..
Asset class
Fumiture and equipment
Depreciation method and rate
20 % straight line
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-temi hiJo Jly liquid investments
that are readily convertible to a known amount of cash and are subject to an insignificant risk of chancre in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Inter¢st-bearing borrowings
are subseqtsently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the
amount due on redemption being recognised as a charge to the Statement of FiT)ancial Activities over the period of
the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and
similar charges.
Borrowings are cla55ifTed as curyent liabilities unless the charity has an unconditional right to defer settlement of the
liability for at least twelve rnonlh5 after the reporting date.
Fund structure
UnTestricted income funds are general funds that are available for use at the trustees discretion in fjjrtherance of the
objectives of the charity.
Page 13

Grace Community Church (Ireland) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
3 Incolne from donations and legacies
Unrestricted
funds
General
Total
funds
Donations and legacies.
Donations from individuals
Grants, including capital grants-
Grants from other charities
56.027
56,027
3.279
3,279
Total for 2024
59,306
59.306
Total for 2023
52,765
4 Income from other trading aetivities
Unrestricted
funds
General
Total
funds
Events income-
Other events income
908
908
Total for 2024
908
908
5 Expenditure on raising funds
Allocated
support costs
Total
costs
Costs of generating donations and legacies
Total for 2024
48,046
48,046
48,046
48,046
Total for 2023
42,952
42,952
6 Expenditure on eharitable activitR¢s
Totsl
expenditure
In addition to the expenditure analysed above, there are also governance costs of £1.244 (2023 £1,228) which
relate dir¢¢tly to charitabl¢ activities. See note 7 for further details.
Page 14

Grace Community Church (Ireland) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
7 Analysis of governance and suppor¢ costs
Support costs allocated to raising funds
Finance
costs
Information Administration
technology
costs
Total
funds
Basis of allocation
Costs of generating donations and
legacies
356
75
32,696
33.127
Total for 2024
356
75
32,696
33,127
Total for 2023
393
181
27,474
28,048
Governance costs
Unrestricted
funds
Ceneral
Total
funds
Independent examiner fees
Examination of the financial statements
Legal fees
774
470
774
470
Total for 2024
1,244
1,244
Total for 2023
1,228
1,228
8 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 15

Grace Community Church (Ireland) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
9 Tangible fixed assets
Furniture and
equipment
Total
Cost
At l October 2023
Additions
8,113
766
8.113
766
At 30 September 2024
8,879
8.879
Depreciation
At l October 2023
Charge for the year
At JO Septernber 2024
2.476
1,690
2,476
1,690
4,166
4,166
Net book value
At 30 September 2024
4.713
4,713
At 30 Septernber 2023
5,637
5,637
10 Cash and cash equivalents
2024
2023
Cash at bank
38,624
26,776
I l Funds
Balance at 30
September
2024
Balance at I
October 2023
IncomRng
resour¢¢s
Resources
expended
Unrestricted funds
General
60,214
(49,290)
Balance at 30
September
2023
Balance at I
October 2022
Incoming
resources
Resources
expended
Unrestrieted funds
General
23,828
52,765
(44,180)
32,413
Page 16

Grace Community Church (Ireland) Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
12 Analysis of net assets b¢tTrveen funds
Unrestricted
funds
General
Total funds at
30 September
2024
Tantsible fixed assets
Current assets
4.713
38,624
4,713
38,624
Total net assets
43,337
Unrestricted
funds
General
Total funds at
30 September
2023
Tangible fixed assets
Current assets
5,637
26,776
5,637
26.776
Total net assets
32,413
32,413
13 Analy515 of net funds
At30
September
2024
At l October
2023
Financing cash
flow5
Cash at bank and in hartd
26,776
11,848
38,624
Net debt
26,776
1.848
38,624
At30
September
2023
At l October
2022
Financing cash
flows
Cash at bank and in hand
20,405
6.371
26,776
Net debt
20.405
6,371
26,776
Page 17