Glasgow Grace Church Annual Report and Financial Statements Year Ended 31 July 2024 Charity registration number.. SC049489 Glasgow Grace Church Contents Rofgr8ncg and Administrative Detsll8 Trustees, Report Independent Examiner'8 Report Statement of Flnancial AGlivi1108 8alance Sheet Note8 to the Financi81 Stslemenl$ 7-14 Glasgow Grace Church Reference and Administrative Details Trustees Princlpal ¢)ffice 58 First Avenue Glasgow G44 3UB Charlty Re8SstrJtlon Number SC049489 Independent Examlner The Accounting Bureau Ltd 87 North Road Pool8 Dorsel BH14 OLT W•bslt• .IlwwN. las ow race. Glasgow Grace Church Trustees, Report The trustees, present the annual report together wrth the financial 8lalements of the charity for the year ended 31 July 2024. Trustees Structure, Governance and Management Glasgow Gra￿ Church is a scot￿sh Charitable Incorporated Organi5alion ISCIQI. A Copy of the charity's constilutlon is hold at thè r¢gistere¢J address. Objects and Artlvlt1•5 The church's purpose Is the advancement of the Chris118n religion in Scotland and the world for the public benefit through th6 malnten8nce In Glasgow of a body of Christian believers founded on tho 88818 of Faith and eng8ged in serving God through worship, discipl88hip, p881oral c8r8 and community outreach. Th8 church ran r•gubr Sunclay moeb'ngs In Glasgow to èxplorè and express fallh and worshlp. Tho church held smaller weekly meetings throughout the week in different parts of the city called Grace Cornmunits'es where pastoral care l¢Jok place and people were helped lo INe out their faith. Glasgow Gr8e6 also worked tO9elher with Glasgow Clty Mission. Christians Ag8insl Povety. 3-2-1, and other char￿1¢8 lo run couws and 8ènd voluni8èr8 to allovialo povoty and 8har& tho chri8ts.an faith in the city Achlov•M•nts and Pgrform•nc• We are pleased to report that the Ghurch has grown in numb8r and divgrsity ovor th• past y$ar to around 170 regular aitenders al our Sunday meetings in Maryhill. The growth has included people who hav¢ moved from nations around the world and Indlgenous Glaswegians. Mid-week groupi (Grace Communili•sl have also been growing and so we have added a further three groups in Renfrewshire. Rulherglen and Jordanhill. 59 of those people have become'partner5' lusuolly called members) of the church. We continued lo run several training sessions to help people develop their skills and gifts, including Preach Prep Ileaching and preaching preparationl. Everyday Evangelism (Sha￿n9 the Christian farth through everyday Iifel and Pursuing Prophecy (helping peopl8 to hear from Godl. Mo$1 of thi$ was delivefed by staff and leaders within the church while we also invf(ed other church leaders from within the Advance and Newtronts'ers ne￿rks, as well as other like-minded church movements, lo help us. Glasgow Grace Church Trustees, Report Nine adutts ￿r* baoi#ed Is beli•vers In Jes￿. The ¢hur¢n r•n CMrisii•n •du¢•iion for ¢hi￿rIn 4nd youth 9miipI gn a Wa•%ly b•il• for 80 ufid8f 18s laround 40 on • wa•kly ba&iJl ThiB his Included th• slan of a y￿h pfG%i4tnm¢ IDr pre-leens ind ieeni. We r8n a 3.2.1 cour￿ In Mjryhill l)r le ask gueition). ¢lscus1 and ¢wlorn flllh no ￿aller Ih•r background Th• ¢huf¢n n4• mn in Inlwn6hip wo9rnmm¢ l¢+r Ihr•e pwl• in Ih•ir eafly h¥¢nii•& In conlurKllon In1￿140￿11 DiJcil•ship We raD a wornon's confof•n¢8 and 8ibl• Study. as w911 As men'i oven18 10 n•p m•Dlal hojkh •nd Incr•35¢ peop￿93 conflaw￿• In God FlTr•nei•l Revlew During Ine period ended 31 July 2024 Ihère was a n•1 Inll¢)w ol unr051ricled lunos or £144.072 12023 £123 0581 Th• Incr095• In funding 1$ prtmanly Que10 Ihe pr￿1￿7 Ollhe churctr ind Increasod donai ons Irorn Ihe paiisnoners Tn• prirtelpal Iunding wiirces of the chui¢h ¥r• vis olfenngi oltn• erwr¢h m•mb•rn •nd r•gular 4ii•ndé•• ifid In• gift ai¢ I•￿•1M¢0 gn Ih•i• 91ft1 £w￿di1u1tr ol uni•thnL#￿ fvno1 WIS £148 1J212023'. £108.882) of ¢perthional coil• m•0¢ vp £136 441 12023 £9S.75I As ￿ Ibe bilant• *tt*trt dAI• lh• ch•nly unr••lrid•d fundi of £71.43312023 £76,49314nd r•ilfici•d lunds ol É1.75512023 £63YI 9iwnG t￿￿1 lund8 01 £73. 18812023 ¢76.1301 Reser￿ Poll£y Tho bulh of Ihe Income at GlasGtr* Grate Church IS in Iha ftym of r8oul8r ¢Jonaiion.4 Irnm ITS All￿d￿M5 In the case tsf An er.onttmiC (IDwnlurii oi 111 Iht •V•nl Ihai two or Ihiai ol our 14rgeF give15 Ge8s8 l>.eir monihiy olltnng IOT any gi*n r•a6M Ihe chwch •imts lo hiv• • mirnium oftwo mtnlhl ruming CO￿1. Including #i•lfini ¢0315. In ie•qMi the ol the pw¢d thtr ityial •munl. ex¢iudiry specific fvnis IFdiow¥hip Fund). w•$ £71493 12023 £75.4931 Thii 1$ 3 1¥ 12Q23 4 Ixl th• m8eNe8 réquired In lh• policy iepofl was BppIOwed by Ihe Iru51ees of the Chanly on Ana Glasgow Grace Church Independent Examiner's Report to the trustees of Glasgow Grace Church I report on the account8 of tho charity for th8 year ended 31 Juty 2024 which ar• sel cut on pages 5 to 14. R•spe¢tlvo reBpon•ibilitlgJ of truJteès and 0￿mIn9r The charity's Iruslees a￿ rgsponsible lor the prep8f81ion of the accounts in 8ccordance with the terms of th• Charities and Trustee Inveslm&nl lscollandl Ael 2005 and th8 Ch8ritie$ Accounts Iscollandl Regulation8 2008 la8 amended). The Gharity Iru¥le•8 conS￿er that the audit requiremènt ol Regulation 10111 lal to Icl ol the 2008 Accounts Regulations dixi8 nol apply. It is my responsibllty lo examine the accounts as required under section 44111 Icl of the Act and to 8tal8 whether particular mattefJ have ceme lo my attenlion. 8•81• of Indep•ndvnt exomln•rf8 •taternont My examlnalion is carried out in accordance with Regulation 1101 Ihe 2008 Accounts Regulations. An examinatlon Sncludes a revlew ol Ihfr accounting r8coré8 kopl by the charity ond a ¢omparlson ol th8 accounts prtsenl•d with thos• recor(Is. 11 also includes considoralion of any unusual item$ or disclosures in the accounts, and seek5 explanations from the Irust888 concerning such m•ll•rs. The proceduras undertaken do not provide all the eVId￿ce that would bg rgquir8d in an audit. and con8equ•nlly I do nol expres$ an audit opinion on the view given by tha accounts. Ind•p•nd•nt •ximln•fs •t•t•m•nt In tho cour8¢ ol my oxamlnetion, no matter ha$ rLJme lo my attonllon.. I whlch 91￿& m8 reasonable cause to b•liev• that In any m8l•rlal re8p8cI tho r8quSrem8nl8'. to keep acoounling records in accordance wlh Section 44111 lal of the 2005 Act and RegulBtion 4 01 the 2006 Accounts RegulaliDn to prep9re occounls which accord with the accounting recJ)rds and comply with RegulBtton 8 of the 2006 Accounts Regulation3 have not been mel, or 2 to which. in my opinion. attention should be drawn in order lo enable a proper under¥landing of ZLtrApril 2025 Glasgow Grace Church Statement of Financial Activities for the Year Ended 31July 2024 Ro•trlcted Incom? lund• Unr•8trict¢d fund8 Endowmènt fund¥ Prfor yeJr fund• Recomrnendod ¢itggorfe# by Actlvlty Totsl fund• Incomè INot• 31 F01 F02 F03 F04 F05 In¢wi• and ondowm•nt• Irom: Donations and ￿g￿l01 139043 140,330 106.926 Olh•rtr•aing ¥Cl￿be4 Inv•iimen Sapaiii• mat•rt81 ol InrA)m• 16,130 rotal Expendlture (Note• 41 145 359 Exyndltur• on: OFw•ti¢n•l c¢¥ 136.441 4.534 136,441 98,752 169 m•tqd•l •xp•nMiwm Other 7,157 148,132 7,157 148 301 9,080 109 001 Total 169 14•t Incom•ll•xp•ndltur•l beforo thx for th• r•portlng p•rlod 4,060 1,118 2,942 14.055 Tax p$y•￿tr Nfrt Incom•llexpondlturo1 after tax b•for• Inve8tmont ga1n8111018￿I 4,CeO 1,118 2,942 14.055 N•t glin￿(10￿￿1Qn Nèt Inoomellèxp•ndltur•l Extraordln*ry it•m8 Transfors be￿••n funds Othor rgcognlsod galn61lloBSO#1: 4,060 1,118 2,942 14.OSS G41TrS4nd105￿N Dn I￿11L41￿)n d fix4d abbttsforth• charty's uwn u gaIn￿(lOSseS) Net movement In fund 2,942 14,055 Reconclllatlon of lunds.. Totsi run48bwughl I0￿¥￿ra 75,493 637 1,755 76,130 73,188 62,075 rotal funds carTled forward Gla$8ow Grace Church Bcilance Sheet 31 July 2024 Hestrlcled UN•otrki•d Ir*llffie Er•JD%Thrt Toid Ihl• y•41 Flxod ass8t¥ F02 F03 FD4 FOS Intanuibl• asB•t4 Y4ngibhJ *¥Mt¥ (Not• 11 H¢irt4w 747 Tot•1 Ilx•d&ss•ts Currgnt ¥8$•ti 81ucks Dtbtorn Ill01• 91 Invtslm•nts Ca•li 41 4Trd In hand INot• 111 Total ¢urr•nI•￿•ts 1075 4290 Cr*ditOfS'. r•iiing du• withi one yo•r INet• 101 980 982 Il•1 cun•nt•Ss•tsrfll•bllJYlesJ rotsi ass•t5 I•ss ciitr•ni hèbllrfm r•dllois'. amountB l•lllnq du• •ft•r oDe yg11 73 188 73 188 7S.IJO Funds of the Charity E*idVW￿￿rtrt fiinds R441ri¢t•O in¢om4 fundB Unrn¥ln¢t•d lundi Rev•luJiion regefV• Fam ¥alu• r•8•N• 1 7SS 1.755 71.433 837 roe•llunds 76.13Q Ddte o., Ppvil ￿l¥IT Glas8ow Grace Church ote5 to the Fiftanclèl Statement5 Year Ended 31 july 2024 lh¢ Fin•nrWRwty Th• lh* >Jr•¥u•thilh•llh•thwrtty*¥ Y•r •t¥ J.¥PAJlQl $OAP. 47 FRtsIQ2WR Nots2 2.1 INCOME Accounting polici RecollTrmon ollncrffle Thw aro Ihèstathmonlol FinancialAthYrties ISOFAI when". lh8 Gh8nty bacomtrs •nbY¢¢ lothe resour￿.. It L4 more likely than not thai thelrustsesv•ill reuiyo ￿8¢u1￿.. Ih? rnLy￿tary vWu• wth *dnc42nt ￿la￿￿ty. Y8S' No. There hal be4n noo[r$￿tin& ￿8$sets •n¢11ODll￿Iès, ¢xineom• unlms quirnd orwmitt¥a by w¢ FRS 102 SORP or FRS 102. Yes. No. Ortnts Ind don￿oNI fy•ntr donÈlons are Onlyin¢￿ed in the S4FAv4h•n Ih•genw81 inctym• wnith criteDa aT?ffjet15 10 to 5 12 FRSI02 SORPI Yes. No. In th•t418 of port¢mign24 I￿at¢4 gfAntJ, Incurneffluslonly be rBCQ9niEed lOthtr•thni th•t pro¥id2d the splu￿d go¢d8 uteMc•¥ •s•niiuthm•nito the 918nl ¢Nyoc£urnvN*n p•rftyTnort• T•￿t•d condlUans4R rnot 15 le FRS 102 SORP) Yes. No. Nla. Ltgwt¥ •r• indu¢¢d in tho SOFAwhan receipt IB pioblltle, IbatiJ, vth•n there has boDn grnnt of prthts. Ih••X•CUION h8V• ml4b1￿MI that ar• lUffic￿nt A$￿tIl￿ L•gicl¥ No. Nl•' Yes. No. Nl4' Qw•rnrn•Trt9r•nts Tl• ¢h•rtty h•1 in ¢SIftAid rncdvablo ￿ Ir￿L￿o In incthr•wh•n Ih•i• 1$ • vllld ¢•clw*lon from th• donor. T4x r•cl•lrn• on donatlDn• Any GIftAid irnounl r•cover•d on •donalon is c¢nwo•r•¢ IOb•Vrtof ￿19fft •n¢ i• 4nd 91 Ima1￿￿¥ an wjdiboh ￿ In• sem•fund •Bthe InrtI41 doll4￿ unlam Ihedonorortre t•rmA of appeii h4va $pK￿led oth•NlSe. No. w*. Conlr4cluil Incom•4nd Thli itsoniy inc4uoeo In th•SOFA¢n￿ th• ¢h•ilty p[9v￿￿j ts rfBt•O9rnd8oi PArtorm•D¢• r•l•t•d rvlcuoi W•llh• p•rfominc• r•4taa conoibohl. gr•M• Ye$. No. Yeo" No. Nl•' Don•t•Ogoodi Don•i•dg00¢i •r• m￿l￿rnd Atflir v4lue (tho irntyJnlf¢rhthlChlhOiits•t¢Ou￿ O Tn• eo*ioi*ny it4th iMgt•Q foroi•bfjbylw w b•n•fity•Mi l•d••m•¢l9 &• l•ltV•lu• of 9Ifts alth• Iiw of th•ir r•celpi 4ndthey4re recollnimd on rKdpl. In th• r•pordnq wnod In￿*1¢￿th• itocki if• diiinbul•d. th•y 8t• recowi••a •1 en Yes. No. w•. DonttodgoDda Tor i&aleartr msutthy •1 r11r￿lU1 tyi Inrtl•l r•wiion. lilh• •xpKt•¢ WOC4•di trom I•u OVC￿4 Ottsilè, ind rwrii•d ity'lrte fr#m otièr Iiithng a¢ti¥rties' th• coff•$wndiw $W remqnljgd In th¢ ￿lIn YeB' No. Nl•' 4cb¥ldea' pr¢M*J8 trom •T• •lwrwnl••d ••'h￿frOM oth•rlr•dln9 •cttvld•s' Gotrjts don*td br¢n4oino U￿￿1￿*¢￿¥nW41*1ecooffl1loI u tsn91ty1• fix•d •u indu¢•d In th• SOFA u IrK¢mity ruouic4s wh2n recei¥abie. Yets. No. NIJ. Glts Ih kindtruw tyth•th•rty•T• Inthd•a In th• SOFA A81r￿Me￿orn domuonb wh•n re[•￿•b￿. Yes. NO. w•. Donated••ThfjEN •Trd Do￿t¢d *r￿c•S and la￿11￿•* are Induded In the SOFAwhen rnceiYed*lthe Yalué ol tm llfftlvthetharty pm¥K1*J tha ¥Wu• ofW* grfl c4n b• m888urod r•*bty No. *' DgnBted serdc*$ and ts&llb&S tholare consurned imffl￿￿te￿ are recognised ats Ine4mtr •n equiyW¢rt •m¢ufii wgn18ett 09 an und•rth•Appropwto haaaing in t￿ SOFA. Yes. No. Nla. Th•ch8rity h•$ irturT•¢ expen¢rfur¢iJi iuppxtcojts. Yes. No. Nla. The v4lueoTllny vduntary help tecw¥ed 1$ Inuua8& intr* ￿￿n*￿VIl808gcfft￿d Yes. No. Nla. Vol￿￿te4r h￿P Incorne Irom Inte￿1, royattlgsand dlvldwds Th(q & I￿￿ded hi the all(￿nts￿￿en feceiplis wobableaDd (•i bo m8¥gur8Q rtlWDIy Yes. No. Nla. Incom•froM m•mbqThNp Wmoerghip sUbSw￿￿$ r¢e•h* in the n•turtrofagfftaRrwrM8•J in Oonathona and LepAths No" wa. PknèershipJubs¢AMions %ththgivés a memberthenghtio bwfits 8r8 r*xwJniyed as incom& fyamoo Iht provisi￿01￿$ an¢ •etyryc*s a5 Incr%ne Irom charrtobie 0(*vibe3 Y8S' No. SAttl•m¥ntof In•urnnc• Inwwt• are only inthd¢d in th¢ S¢FA vjhan Ihegenern1 inw¢ cI41m• afe ￿15 Ioto 6 12 FRS102 SORP) and aTe Indu¢00 as on rt•m uloth•r inctyne In SaFA. Yes. No" Nl8' Inv••tsn•ntg4ln••nd indudes ony ie•listd trUntEaliJedgairAoi kn0#e$￿ saleof inv&*bm¢nth •nd •nyg8in or th•rewYur4 from ￿￿1￿ing Inw6bYWtJto m•rk•l¥alu• •iin• olthe Ye8. No. 2.2 EXPENDITURE AND LIABILITIES Lio￿libe3 are ie¢o9ni$8¢ *ther• rt Is mte IIWihon notlh8tthw• li i lell•l or cth)$iruciive ob1wal￿ncQrnMIllIffig the ¢h8rity to p8youlrellourw an¢ Ih•4mwnlolth¢ obliqaboneAn bo moo$ure¢ with r•asonabh ￿rtainty GoY•m•nc• •nd I￿PPort supp￿￿&1￿ haye bsen 09¢￿Tr go¥emart• ctstha￿ oth•r8upwrt. IYDvemanai casi8 wnpnstrall costs Involvino publ￿ •(t•Jnta￿IityOT theth•rty•na ill c¢mpibnc•wth rngulatson and 9tt￿ Supp* Gosts Induda c•niro1 ha¥e baen Alknttatèd to ats¥Yity Gosl c•trfod•i tyi a o¥itst¢nwsteni ¥*llh th• u$èdr•¥ourctt ag aNopAllng pr¢p•ty(thts bylw ire•i. or pwr¥pii8. Iiiff ¢4sis tsma iF•nt•nd other(t*ts bylhelrw•g•, L￿￿1￿{ rn¢ognWon N¢" Nl•' Y88. No. Nla. Ye$" Grnnth F•rtorrn•n￿ Where th• giv0¥ • condrtiong lor It• peymanl ¥*¢ffl¢lMI ol ¢ondlWon* io¥ioroulpuito be provided, such oTonls Ereonly recoqnlied In SoFAonr• red9￿nt011h•lI1rt1 pro¥idDd thè iWCiW oroutpul Yes. NO. W•. QThnts p•y•bl•%thout hDiq th•r• ir• no￿￿1vOn* •tt4chln9 10 th• gr•niih•i•nori•#thi dunDrcTh•￿ty to p•rforrnin¢•¢ondlllon• r••ll8Uc41ty i¥tsld Ihe orrnrnrtnxni. • Iwblltylor In• Mil ￿ndIng otylw•l¢n muii t• Ye$. NO. R•d￿n￿nty¢01t Th•¢￿￿ty￿a￿•￿4￿dYntt•nty ¥ymntldvnn9lh• plntso. Ye&. No" Nl). Ng ffl•t•d￿ ofdDfvrt Iwffl• h•1 twn In￿udIO In th• wJnt*. Y88. No. Cf•dtt•r• ThI￿￿ty hii crndltor•knknl¢h •F• mmiuithj 11 i0rdimeni•￿￿Thts bid• alKoun Y•s" PrO¥hlon•forll•￿l￿* A Il•bility Isffle4Aur•d *lli¥h*tsrlul OJJI •no ￿en ￿￿￿qUen1ty a•ured •llh• bwi•oomt• ollh• •mouni r•qdMd 10 MiY•lh•¢bivJiiion ￿ th• reportmg dit• Th• ¢h¥nty 1tt4vni8 loi b*￿¢ ftn•n¢K•I In•irumh114Tr Inity•l rwnitsty) is wr rngi4ph 10 7 FRS142 SORP. Suèwueffl m••wr•mnt yr pw•g1•gh8 11.17 to 11 19. FRS102 SORP. Ve3. No. Nl•' •lc fln•n¢l•l lTh•trum•rf• Y••. NO. 2.3 ASSETS Tlnglbl• fix•d •M•t• f¢r ThM•4r•uw•ii¥•J rfthty e4n b• ￿￿j for ifv•n￿ *nde4•1W *••1 by ch•rlty Nl4' Th•4•prI￿￿ iittslnd fr￿¢￿• u••d •r• ¢l*Ye•&J In nDts 14. ThtrLthrlty h0$ int•n9lDl• I￿t4 &wls. thlll l*. rw-rnon•tsty&Meii hav phpi¥i iUDSt•neè ar• hl•nVfl•blo •nd 4r•con￿* by Ih•ch¥ntythrouoh tui l¥￿gI1 rtghts. TM •mOnrW￿fj fates and moth0¢$ ya•d •r* 01￿￿￿ed In nots 1S Intsnglbl•fli•d 41••¢B YoB' Thy•r• v8lu*i alcut Yes. No. WJ. H•rSl•g• scientyfic. technolog￿1. geophyjul orenvlronment¥i qu¥lrties thaiAie h•id an¢ Maintain￿ pnncipalty for Ingbr￿n￿￿1¢rn to ￿￿￿edgE ano cullurè. Tht depredwknn rnte51nd rn¢thod$ ugid •tsdilldDsed in note 16 Yes. Yes. No. Thoy•m Vllluqd ai cog1 •Wlinve4tfflentJlnqwknJ 8h•res. ￿ed bthidyand $lmll•i irwestrDEnts llre volued 81 InI￿allY41CQ5I and 5utssgquengy81fasf vaiuE liheii marxetV8luei 81 year *hd Tre SBmètreatwni ￿apPlied ￿ unlijted In¥e$tm¥rti$ unleM laif value ¢anrtthbe mBOSUT8tr f8118bty In cag9 It19 al￿51 lrnpHITfflenL Inv•btrn•nts Yes. NIA. In¥*sknents he￿ fvr ￿901&0[ fvr 2nd $nd ¢8Sh eqU1¥a￿￿￿thh fflaturirydaté of les5thgn 1 ￿3[are tre8M a$eJj￿enI85EeIlnVeStmnts Yes, No. stock• and wor* In wogrts• St(ds hel0tr￿$S$ p9rtofw