Charity number: 1068566 ELPIS MINISTRIES UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023
ELPIS MINISTRIES CONTENTS Page Roforonco and Adminlstrativo Dolalts of th& Chaiity. Its Trustso$ and Advi$grs Trusts•6' Rèport Trustees. Responsibilities Statement Independent Examinerfs R8POrt Statsment of Flnanclal Actlvltl•s Balance Sheot Notes to the Flnanclal Stat•m•nts 9-20
ELPIS MINISTRIES REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Trustees R Patty Iresigne<l 19 August 20231 C M Mudamburi A O'connor Iresiqned 5 September 20221 M Darteh (appointed 5 September 20221 A Mudamburi lappoinled 5 September 20221 Charlty rogl$tsrod number 1C68566 Principal offico A11A2 Sutherland House 43 Sulhedand Road Wallhamslow London E17 6BU Accountsnts Haslers Chartered Accountsnts Old Slats'on Roa Loughton E$$ex IG10 4PL Page 1
ELPIS MINISTRIES TRUSTEES. REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2023 The Trustees present their annual report together wth the financjal ststements of the Charity for the 1 ApTiI 2022 to 30 September 2023. Objectives and activities a. Policios and objèctives The objects of the charrty continue to be". lil The advancement of Christian religion and educalion lill Counselling in relats'on to marriage, youth, career. parenb'ng. bereavement liiil Support for families livl Training leaders Iv) Enhancing social and Community integration In setting objectives and planning for activities. the Trustees have given due consideration to general guidance published by the Charity Commission relating to public bènefit, including the guidance 'Public benefit.. running a charity IP821'. Ach5•voments and p•rfornianc• a. Flnanclal revlew Incoming resources as a whole have decreased compared the prior year, with voluntary income making up larger proportion of income. In addition. our fundraising acb"vib"es eonthnued lo be gu¢¢essful, thanks mainly lo the kind donaliens of members. Office overheads were similar lo last year wlh no significant changes lo note. Funds available are sufficient lo pemiit the charity to continue operation in the medium temi. b. Rovl•w of a¢tlvltle$ The trustees consider that the perfomiance of the charity this year has been most satisfactory. The charity would not be able to operate without the continued support of a large number of wlling support staff who give their services voluntarily, lo assist the church on a freelance basis. The charity has made a surplus in the year of £162.23412022." £%.6691, and the charty expected lo conb'nue this satisfactory perfoimance in the next year. Flnanclal r•vlew a. Going concorn After making appropriate enquiries. the Trustees have a reasonable expectation that the Charty has adeqLJate resources to continue in operats'onal existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 2
ELPIS MINISTRIES TRUSTEES. REPORT ICONTINUEDI FOR THE PERIOD ENDED 30 SEPTEMBER 2023 b. Flnancial risk management objective$ and policiès The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves al current levels, combined wth an annual rewew of the controls over the key financial systems, will provide sufficient resources in the event of adverse condition5. The Iru5tee5 have also examined other operational and business risks faced by the Charrty and confirms that they have estsblished systems lo miligale the significant risks. Structur•. gov•rnan¢• and manag•m•nt . Constitution Elpis Ministries is a registered charity. number 1C68566, and 1$ constituted under a Trust deed. The principal objective of the charity is for the advancement of Christsan religion and educats'on. b. Methods of appoSntsnent or elKtlon of Trustses The management of the Charity is the responsibilty of the Trustees are elected and co-opted under the terms of the Trust deed. Appointment of Iruslees is govemed by the memorandum and articles of association. The Board of Trustees is authorised to appoint new Iruslless to fill vanCle$ arising through resignation or death of an existing Iruslee. ¢. Organlsatlonal Structure and declslon4naklng pollcl The Charityy governing document is the Trust Deed. which is kept al the charity's principal address. d. Flnanclal rlsk manag•m8nt The Tnjslees have assessed Ihe major risks to which the Charity is exposed. in particular those related to the operations and finances of the Chanty, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Approved by order of the members of the board of Trustees on 3 September 2024 and signed on their behalf by.. Darteh Trustee Page 3
ELPIS MINISTRIES STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE PERIOD ENDED 30 SEPTEMBER 2023 The Trustees are responsible for preparing the TTU5tee5' Report and the financial slalemenls in accordance with applicable law and United Kingdom A¢¢ounling Stsndards Iunited lfjngdom Generally A¢¢epted A¢¢ounting Practicel. The law applicable to charitie5 in England 8 Wales require5 the Twstee5 to prepare financial statement5 for each financial which give a true and fair view of the stsle of affairs of the Charty and of its incoming resources and application of resotJr¢es. including its income and expendrture. for that period. In preparing these financial Ststements, the Trustees are required to.. seled suitable accounting policies and then apply them ¢onsistenUy'. observe the methods and principles of the Charities SORP IFRS 1021., make judgements and accounting eslimales that a reasonable and prudent." state whether applicable UK Accounting Siandards IFRS 1021 have been followed, subject to any material departures d15¢105ed and explained In the financial stslements", prepare the financial slalements on the going concem basis unless il is inappropriate lo presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounb.ng records that are suffiaenl to show and explain the Charity's Iran$adions and disdose with reasonable a¢¢ura¢y at any lime the financial position of the Charity and enable them lo ensure that the financial $tstement$ wmply wth the Charities Ad 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of ihe Trust deed. They are also responsible for saleguarding the assets of the Charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 3 September 2024 and signed on its behalf by.. Dartgh Trustee Page 4
ELPIS MINISTRIES INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Independent Examinerfs Report to the Trustee5 of Elpis Ministries I'the Charity'l I report to the charty Trustees on my examination of the accounts of Ihe Charity for the period ended 30 September 2023. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the prepar*ion of the accounts in accordance the requirements of the Charits'es Act 2011 llhe 2011 A¢t'l. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in ¢arwn9 out my examination I have followed the applicable Direcb"ons given by the Chanty Commission under section 1451511bl of the 2011 Act. Independent Examin•fs Statomenl Your attenbon is drawn lo the la¢1 that the Charity has prepared the accounts in accordance with Accounting and Rep¢'n9 by Charities." Slalemenl of Recommended Practice applicable to charities preparing their accounts in a¢¢ordan¢e wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the AOUntIng and Reporting by Charitie$.' Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been wthdrawn. l understsnd that this has been done in order for the accounts lo provide a true ant1 fair view in accordance wllh the Generally Accepted Accounting Practice effective for repo.ng periods beginning on or after 1 January 2015. I have completed my examination. I confim Ihat no matters have come to my attention in Connection wf(h the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by sects'on 130 of the 2011 Act., or the accounts do not accord with those records,. or the accounts do not compty the applicable requirements conceming the form and content of accounts sel out In the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ue and fairf wew 1¢h is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection wlh the examination lo which attention should be drawn in thi$ report in order to enable a proper understanding of the accounts to be reached. Page 5
ELPIS MINISTRIES INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE PERIOD ENDED 30 SEPTEMBER 2023 This port is made solely to the Charivs Tnjstees. as a body. in accordance wi(h Part 4 of the Charities (Accounts and Reportsl Regulation$ 2008. My V•vrk has been undertaken so that I might slate to the Charity's Trustees those matters l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. Dated.. 3 September 2024 Thomas Rogers Haslers Chartered Accountants Old Slalion Road Loughlon Essex IG104PL Page 6
ELPIS MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Unrestrieted fvnd$ 2023 Re$trlcted fvnd$ 2023 Total fvnds 2023 Total funds 2022 Income from: Donations and legacies Charitable activibes Inve51ment5 92,557 290.310 53,541 146,098 290,310 474 102.850 202,517 26 474 Tolal incomg 382,867 $4.015 436,882 305,393 Exp•ndlture on: Raising funds Charitable aclivibes 15,83S 255.518 15,835 258,813 4,362 204,362 3,295 Total oxpondlture 271.353 3,295 274,648 208. 724 Net movement In funds 111,514 $0,720 162,234 96,669 Ro¢on¢lllatlon of lunds: Total funds brought forward Net movement in funds 235,092 158,623 50,720 393,715 162,234 297,046 96,669 Total fund$ carrl•d forward 346.606 209,343 555,949 393. 715 The Statement of Financial AdNitie$ includes all gains and lo$$e$ rewnised in Ihe period. The notes on pages 9 to 20 form part of these financial statements. Page 7
ELPIS MINISTRIES BALANCE SHEET AS AT 30 SEPTEMBER 2023 30 Soptomr 2023 31 March 2022 Moto Fixed assets Tangible assets 10 21.195 24.491 21.195 24,491 Curr•nt a$8•ts Debtors Cash al bank and in hand 591,Y3 3.264 13,445 365,367 594,807 378,812 Creditors.. amounts falling due within one year 12 {60,0531 (9,588) Not current a88ets 534,7S4 369,224 Totsl a880ts less curr•nt Ilabllltles 555.949 393, 715 Total not a$$ots 555,949 393, 715 Charlty funds Restricted fund$ Unrestricted funds 13 13 209,343 346,606 158,623 235,092 Totsl funds 555,949 393, 715 The financial statements were approved and aulhorised for issue by the Trustees on 03 September 2024 and signed on their behalf by.. Darteh Trustee The notes on pages 9 to 20 fomi part of these financial statements. Page 8
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 General infomiation Elpis Mini51ries Is a chantable organisalion. registered In England and Wales, wlh a regi51ralion number 1068568. The address of the registered office is A11A2 Suthedand House, 43 Sulhedand Road. London, E17 6BU. The principal objective of the charity is for the advancement of Christy'an religion and education. Ac¢ountlng pollcl•$ 2.1 8asis of preparation of financial statements The finanual statements have been prepared in accordance wth the Charits"es SORP IFRS 1021- Accounting and Reporting by Charities". Ststement of Recommended Practice applicable lo charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecknve 1 January 20151, the Financial Reporting Stsndard applicable in the UK and Republbc of Ireland IFRS 1021 and the Charits'es Act 2011. The financial slalemenls have been prepared lo give a Irue and fair, view and have departed from the Charities IAc¢ounts and Reports) Regulab"ons 2008 only lo the extent required lo provide 3 Irue and fairf view. This {lepartU has invofved follwng the Charities SORP IFRS 1021 published on 1S Juty 2014 rather than the AcUntsn9 and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 vthich has since been withdrawn. Elpis Ministries meets the definrtion of a public benefit ents.ty under FRS 102. Assets and liabilities are inf(ially recognised al historical cost or transaction value unless olherwse slated in the relevant accounting policy. 2.2 Incom All in¢ome is recognised once the Charity has enlillemenl to the income. il is probable that the income wll be received and the amount of income CeIVable can be measured reliably. Income recoverable in relation to inveslmenl income is recogni$ed al the ts'me the investment income is receivable. 2.3 Expenditurn Expenditure is recognised once there is a legal or construciive obligation lo transfer ecr)nomic benefit to a third paty. it is probable that a transler ol economic benefits wll be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct cost5 and shared costs, including support costs involved in undertaking each actsvity. Direct costs attn"bulable to a single activity are allocated directly to that actiwty. Share<1 costs which conlnbule lo more than one activity and support costs which are not attributable to a single activty are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the ba$1$ of tsme spent, and depre¢iats'on charges allocaled on the portion of the asset's use. Expenditure on raising fijnds indude5 all expendrture incurred by the Charty to ra15e fvnd3 for 115 Charitable purposes and includes Costs of all fUndlS1ng acbvtbes events and non-charilable trading. Expenditure on charitable activrties is incurred on direcljy undertaking the activf(ies vthich fijrther the Charity's objectives, as well as any asswated support costs. Page 9
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Accounting policies (continued) 2.4 Tangible fixed assets and depreciation Tangible fixed a5set5 are initially recognised al cost. After Tecognrtion. under the cost model. tangible fixed assets are measured al cost less accumulated depciatIon and any a¢¢umulaled impairment losses. All costs incurred to bring a tsngible fixed asset into its intended working condity'on should be in¢luded in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslimaled usefijl lives, on 8 reducing balance basis. DepreatiOn is provided on the followng basis.. Plant and equipment 20% reducing balance 2.5 Oebtors Trade and other debtors are recognised al the settlement amount after any trade discount off&red. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.6 Cash at bank and In hand Cash al bank and in hand Includes cash and short-temi highfy liquid investments with a short maludly of three months or less from the date ol acquisib'on or opening of the deposit or similar account. 2.7 Llabllltles and provlslons Liabilities are re¢ognised when there is an obligation al the Balance Sheet date as a resutt ol a past event. il is probable that a transfer of economic benefit will be fequired in settlement, and the amount of the settlement can be estimated lIablY. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or service5 It must provide. Provisions are measured at the best estimate of the amounts reqUId to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.8 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.9 Operatlng l¢ases Rentals paid under operating leases are charged to the Statement of Finanaal Activits'es on a straight line basis over the lease term. Page 10
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Accounting policies (continued) 2.10 Pgnsions The Charity operates a defined conth"bub"on pension scheme and the pension charge represents the amounts payable by the Charity to the fur in SpeCt of the period. 2.11 Fund a¢¢ounling General fvnds are unrestricted lunds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unreslri¢ted funds thal have been Set aside by the Trustees for particular purposes. The aim and use of each designated fvnd is set out in the notes to the financial slatemenls. Reslrieted funds are funds vthich are to be used In accordance wtt) specific restrictions imposed by donors or vh)i¢h have been raiseil by the Chanty for path'¢ular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fvnd 1$ set out in the notes to the financial statements. Income from donalon• and l•ga¢l•s Unrnstrlcl8d RestrSct8d funds funds 2023 2023 Total funds 2023 Total funds 2022 Donations 92,557 53,541 146,090 102,850 Total 2022 94,508 8,342 102,850 Income from charitable activities Unrgstrlcted nd$ 2023 Totsl fund$ 2023 Total funds 2022 Tithes and offering 290,310 290.310 202,517 Total 2022 202.517 202.517 Page 11
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Investment income RtrIcted funds 2023 Total fund$ 2023 Total funds 2022 Investment income 474 474 26 Total 2022 26 26 Analy$Ss of •xpgndltur¢ by a¢tSvltlo8 Actlvltles undortakon dlr•¢tty 2023 Support costs 2023 Total fund$ 2023 Total funds 2022 Tithes and offering 200,222 58,592 258.B14 204,362 Total 2022 181. T52 22.610 204,362 Analysis of dirnct costs Total funds 2023 Total funds 2022 Staff cost$ Rent and rates 65.205 127.702 760 2.675 966 71,070 102,359 Donations Telephone and fax Advertising expenses Printing and stationery Travel and subsislen¢e 3,236 1,525 300 3,262 1.973 941 200.222 181, 752 Page 12
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Analysis of expenditure by activities Icontinuedl Analysls of support costs Total funds 2023 Total runds 2022 Depreciation Telephone and fax Insurance Repairs and maintenance Bank charges Sundry expenses Light and heal Govemance ¢osls 3,296 2.180 4.647 17,727 470 3,976 337 6,693 109 1,503 3,737 6,255 7,288 10,828 12,156 58,592 22,610 Ind•p•nd•nt •xamln•r'8 r•mun•ratlon 2023 2022 Fees payable lo the Charivs independent examiner for the independent examination of the Charitys annual a¢¢ounls Fees payable lo the ChariV$ independent examiner in respecl of.. All other services not induded above 4.500 3,300 6.645 1,560 Staff costs 2023 2022 Wages and salaries Social Security cos15 Contribution to defined contribution pension schemes 62,146 1.647 1.413 67,211 1,826 2,033 65,206 71,070 Page 13
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Staff costs (continued) The average number of persons employed by the Chanty duiing the period was as follows.. 2023 No. 2022 No. Employees No employee received remunerats.on amounting to more than £60,000 in either year. TnMt••s' romunerntlon and oxponses During the period, no Trustees receive¢J any femuneration or other benefrts (2022- £NIL). During the period ended 30 September 2023. no Trystee expenses have been incurred (2022- £NIL). 10. Tanglblè Ilxod a880ts Plant and machinory Cost or valuatSon Al 1 April 2022 78.402 AI 30 September 2023 78,402 Depreciation Al 1 April 2022 Charge for the period 53.911 3,296 AI 30 September 2023 57.207 Net book value At 30 September 2023 21,19S At 31 March 2022 24.491 Page 14
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 11. Debtors 30 S•ptomb•r 2023 31 March 2022 Due withln on¢ y•ar Amounts owed by group undertaking$ Other debtors 588,3S3 3,190 13,445 591.543 13,445 12. Credltors: Amounts falllng duo wlthSn om yoar 30 Soptambor 2023 31 March 2022 Bank overdrafts Other taxation and social security Other creditors A¢cruals and deferred income 22 94 55,437 4,SOO 5,837 451 3,300 60,053 9,588 Page 15
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 13. Statement of funds Statsment of funds - current pfrrlod Balanco at 30 September 2023 Balance at 1 April 2022 Income Expenditure Unrg$tr1¢1gd funds Dosignated funds Designated Funds- all funds 40.000 G•n•ral funds General Funds- all funds 195,092 382,867 {271.3531 306.606 Total Unrn8trlctsd fundi 235,092 382,867 {271.3S31 346.606 R•strfct•d fund• Building lund 158,623 54,015 13,2951 209.343 Total ol lund8 393,715 436,882 1274,6481 555,949 The following restricted ftrnds were held during the year.. Bulldlng fund- This lund relates lo monies receive(J for the pur¢hage of a property by the Charity. D8signatgd fund- £40,000 has been set aside the unrestricted fund to the designated fund which wll be put lowards the purchase of a property for the Charity. Page 16
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 13. Statement of funds Icontinuedl Statsment of funds - prior p8ri¢yJ Balance at 31 March 2022 Balance at l Apnl 2021 Income Expenditure Unre$trl¢led funds D85ignated funds Designated Funds- all fvnds 40,000 40,000 Gon8ral fund$ General Funds- all fiJnds 103,551 297,025 (205,484) 195,092 Total Unrostrfctsd funds 143,551 297,025 (205,484) 235,092 Rostrlctod funds Building fijnd 153,495 8,368 (3,240) 158,623 Total of funds 297,046 305,393 (208. 724) 393. 715 Page 17
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 14. Summary offunds Summary ol lund$ - current period Balanco at 30 September 2023 Balance at 1 April 2022 Income Expenditure Designated fvnds General funds Reslricled funds 40,000 195.092 158.623 40.000 306.606 209.343 382.867 54.015 {271.3531 13.2951 393,71S 436,882 {274,6481 555,949 Summary of funds - prbor yrlod 8818nc8 81 31 March 2022 Ba18nce at l Apnl 2021 Incom8 Exp8nditur8 Designated funds General funds Reslricled fvnd$ 40,000 195,092 158,623 103.551 153,495 297.025 8,368 (205.484) (3,240) 297,046 305,393 (208, T24? 393, T15 15. Analysls of net assets betwn lunds Analysls of n•t assets bgtwn funds- curront Poriod Unrestricted Restricted Total funds funds funds 30 30 30 S•pt•mber Soptambor Sopt•mbor 2023 2023 2023 Tangible fixed assets Current assets Creditors due wthin one year 21,195 385.464 160,0531 21.195 $94,807 160.OS31 209,343 Total 346.606 209,343 555.949 Page 18
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 15. Analysis of net assets betwren funds (continued) Analysls of not assets bet*wn funds- prfor period Unrestiycled funds 31 March 2022 Restricled funds 31 March 2022 Total funds 31 MaKh 2022 Tangible fixed assels Current assets Creditors due wthin one year 24,491 220, 189 (9.588) 24,491 378,812 (9,588) 158,623 Total 235,092 158,623 393, 715 Page 19
ELPIS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 16. Pension commitments The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independenyy administered fvnd. The pension cost charge represents contributions owed lo the Charity to the fvnd and amounted to £1.413 12022. £2.0331. Contributions totalling £Nil12022.' £Nill were payable to the fund at the balan sheet date. 17. Oporatlng lèayo ¢ommltments AI 30 September 2023 the Charty had commitmenls to make future minimum lease payments under non-cancellable operating leases as follows.. 30 Soptemb•r 2023 31 March 2022 Not later than 1 year 82,950 18. Rolatsd party tran$actlonJ During the period, the charity made payments of £588,353 on behaw ol Elpis Ministries CIO. During the period, M Darteh la trustee), loaned £25.000 and donated £11,500 lo the charity. 19. Post balance sh••t events Post period end, the charty have plans to transfer all assets to Elpis Ministries CIO. Page 20