The church has a nave and a north aisle. All windows are 14^th Century. The blocked archways of a demolished south aisle are visible with re-installed 14^th century windows, still with fragments of mediaeval glass in them. The north arcade and chancel arch are 13^th Century. The south doorway and the font are 14^th Century (Pevsner "Lincolnshire" p177).

The clerestory has 15^th Century windows; testament to continued improvement being made throughout the Middle Ages.

The church has two bells in a 13^th Century gabled bellcote. The smaller is medieval, dated circa 1200. It is the second oldest in Lincolnshire. The other is dated circa 1500. (Ketteringham "Lincolnshire Bells & Bellfounders" pub. 1995 p44). Braceby church was gradually improved, but funds never ran to the erection of a church tower.

On the left of the door on the wall of the South Porch is a mass dial, a primitive sundial. Mass dials were very common in the medieval period. The main purpose was to show the time of the Mass and only secondly to indicate other times of day. When the South Aisle was demolished this was reinstalled in the porch wall.

There is no longer a rood screen above the Chancel Arch, and documentary evidence records its removal during Elizabeth I's reign but cuts in the stonework indicate where it might have been fixed.

On the north aisle pillar at the back of the church is the beginning of a carved alphabet, letters  a  to  g  in Old English script.

St. Margaret’s contains one 17^th Century tomb, and that fairly simple. It is the tomb of Ann Towne, widow of Richard, the then Lord of the Manor.  She died in 1630.  There are three memorials on the wall, one 18^th Century, to Richard Torry & his wife, and two 20^th Century: a First World War Memorial to sons of the Chevins family, the other to a former villager and benefactor of the Church, Mrs. Farmery.

This lack of ostentatious display again shows a parish that was never rich. There are no coats of arms or evidence of the ‘upper classes’ ever having patronised the church.

The chancel was rebuilt some time in the late 19^th Century.   Because of this we can no longer see the chapel with ‘curiously wrought heads of men, foxes, roses, etc.’ mentioned by Edmund Turnor in his 1806 book The Soke of Grantham.  This was the chapel of the Towne family, Lords of the Manor of Braceby in the 1600s.