REGISTERED CHARITY NUMBER: 1082306
Report of the Tru8tee8 and
Flnancial Statements for the Year Ended 31 August 2024
MRS E.M. BATES TRUST
Knox Cropper LLP
Chartered Accountants and Statutory Auditors
65 Leadenhall Street
London
EC3A 2AD

MRS E.M. BATES TRUST
Contents of the Flnancial Statements
for the Year Ended 31 August 2024
Page
Reference and Admlnlstratlve Detalls
Report of the Trustees
Rèport of the Independent Auditors
Statèmant of Financlal Activities
Balanc¢ Sheet
Notes to the Flnanclal Ststements
10 to 18

MRS E.M. BATES TRUST
Reference and Admlnlstratlve Details
for the Year Ended 31 August 2024
TRUSTEES
MrRCoy
Rt Rev S Grove5 Chairman
Mrs J Seaton
Mr G Seaton
Ms Z Taylor
Mr J Hancock
PRINCIPAL ADDRESS
S Muswell Hill
London
N10 3TJ
REGISTERED CHARITY NUMBER
1082306
INDEPENDENT AUDITORS
Knox Cropper LLP
Chartered Accountants and Statutory Auditors
65 Leadenhall Street
London
EC3A 2AD
INVESTMENT MANAGERS
Brewln Dolphln
12 Smlthfleld Street
London
EC1A 9LA
BANKERS
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
ME19 4JQ
CLERK TO THE TRUSTEES
Ms. L Newens
Page 1

MRS E.M. BATES TRUST
Report of the Trustees
for the Year Ended 31 August 2024
The trustees present their report with the financial statements of the charity for the year ended 31 August 2024.
The truslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectlves and alms
Mrs Bates, original gifts were quite specific as to how the income for the two Trusts was to be apportioned and
applied for the benefit of the Moravian Church and these original objects are reflected in the new scheme,
namely:
"to pay a yearly sum of £500 to Grydcehill Church, Ballymena. County Antrim"
2)
'to advance the religious and other charitable purposes of the Moravian Church in the British
Province,. includlng the provision of choir houses and the advancement of education for children of
ministers and missionaries of the Moravian Church"
3)
'Yo advance the religious and other charitsble purposes of the Moravlan Church in any part of the
world"
As noted in the Financial Review below. the Trust wlll change to the Total Return approach to investment from
1 September 2024. As a resull of this change. the Trust's Investment Policy has been changed. and a Reserves
& Grant Making Policy has been adopted. There has been no other change to the policies adopted in furthering
the objectives of the Trust during the period.
In accordance with the provisions of the Trust Deed, the entire net income for the year is distributable by the
Trustees to the beneficiaries. Amounts not paid over during the year are accrued for payment after the balance
sheet date. The Trust holds Investments in order to generate investment income which Is distributed to the
beneficiaries, net of any Costs incurred.
PUBLIC BENEFIT
The Trustees confirm that they have considered the general guidance issued by the Charity Commission in
connection with public benefit in setting the objectives of the Charity and in particular they have considered
how planned activities further the charity's objects.
The sole beneficiary of the Mrs E. M. Bates Trust is the Moravlan Church and its congregations. The Moravian
Church in turn provides public benefit by promotlng the Christian faith and the spiritual well-being of its
members. It currently has a following within the United Kingdom of approximately 1200 members.
FINANCIAL REVIEW
The Trust's work is entirely reliant on income and investment returns from its endowments. In November 2023
after taking the advice of their Investment Managers the Trustees took advantage of the Charities (Total
Return) Regulations 2013 (The Regulations) to vary the requirements of the 2000 Trust Deed and adopt the
Total Return approach to investment from 1 September 2024.
This change has not impacted the results or reporting for the year ended 31 August 2024. However, in August
2024, the Trustees, in consultation with their Investment Managers, reduced the cash balance held with CAF
Bank.
Financial position
The beneficiaries and trustees agree that Ihe needs of the beneficiaries are currently best served by income
from a mixed portfolio of investments. In the current year this policy generated total income of £474,460 (2023:
£413,527) which allowed the Trust to donate £416,704 (2023: £360,770) to its beneficiaries. At the year end
the total net assets of the Trust stood at £11,647,242 (2023: £11,203,454).
Page 2

MRS E.M. BATES TRUST
Report of th& Trustoes
for the Year Ended 31 August 2024
FINANCIAL REVIEW
Investment policy
The Trust has a mixed portfolio of Stock Exchange investments and shares in the Charities Property Fund.
The Charity Commission scheme affords the Trustees flexibility in relation to the investment of the trust fvnds.
They have the power to delegate investment management and may allow investments to be held in the
nominee names of investment managers. These powers have been exercised, discretion to manage the
quoted securities has been given to the stockbrokers on the basls of guidelines given to them by the Trustees
and their nominee company holds the Trust's investments.
The Trustees have resolved that their policy should be "to obtain a satisfactory total return comprising Income
and capital growth against a background of medium to low risk" Furthermore, the investment managers have
been instructed to use ethical principles to manage the funds of the Trust and have been provided with clear
guidance on how this is to be applied by avoiding holdings in companies whose main activities are in the
manufacture or supply of armaments, tobacco, breweries and gambling.
Resorvés policy
The Trust requires that the whole net Incomlng resources for the year to be paid to the beneficiaries, whilst
capiial appreciation is to be retained to supplement the Trust Funds. The Trustees have hitherto sought to
balance the interests of present and future beneficiaries through their investment policy, by balancing income
and capital growth. This approach has severe limitations and the Trustees have made the necessary
resolulions to create the powers to adopt a total relurn approach although in the light of market condltlons they
have decided for the lime being not to adopt that approach but are keeping it under review.
Reserves held at the year-end consist entirely of the permanent endowment funds and amount to £11,647,242
(2023: £11,203,454) 8t that date. Reserves are held in the fonn of investments which are used to generate
investment Income for the Trust's direct beneficiaries. Reserves are not held to cover operating expenditure
since the majority of expenditure is the grant of net income to the beneficiaries. The COVID-19 pandemic,
together with the war in Ukraine and various economic factors has contlnued to impact on the income
generated by the Charity's investment portfolio and, therefore, the amount available for distribution to its
beneficiaries but will not affect its ability to remain a going concern for the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Govemlng document
Mrs. E. M. Bates Trust was formed on the 26June 2000, undera Scheme made by the Charlty Commlssloners,
by the merger of two charitable trusts: Mis Elizabeth Mary Bates, gift for the Unity of the Brethren, known as
the Moravian Church, under deed dated 11 February 1813 (Charity number 234212) and Mrs Ellzabeth Mary
Bates, gift for the Unity of the Brethren or Moravians under deed dated 25 July 1815 {Charity number 234214).
The two separate fiJnds were amalgamated from this date and the charities administered as one charity known
as Mrs. E. M. Bales Trust (Charity number 1082306).
Trustees
The names of the Trustees that served durlng the perlod and up to the date of this report are shown on page
1. There were five co-opted trustees and one ex-offlcio trustee during the course of the year. The co-opted
trustees are usually appointed upon the advice of the Provincial Elders Council (PEC) of the Moravian Church,
while the ex-officio trustee is the minister of Gracehill Church.
When a vacancy occurs on the Board, the PEC of the Moravian Church is usually invited to approach people
with the essential skills and recommend them to the Trustees for their Gonsideration. Having considered the
CVS of prospective candidates, one individual is invited by the Trustees to attend a Board meeting as an
observer. If the Board feel that the candidate is suitable. and the candidate feels similarly, helshe is invited to
the next meeting and to be elected to the Board. New Trustees are given a 'red book, which contains all the
background detailslinformation on the Trust including the latest accounts. trustee responslbllities and
governance arrangements in place.
Management
The Trustees m8et ￿1c& a year. The Trustees are advised by the professional advisers listed under legal and
administrative details. The Trust has no empjoyees.
Page 3

MRS E.M. BATES TRUST
Report of tho Trustees
for the Year Ended 31 August 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The Truslees have reviewed the major strategic, business and operational risks which the charity faces and
confirm that systems have been established to mitigate those risks. Arrangements have been made for regular
reports to be produced so that the Trustees can ensure that appropriate safeguards remain in place.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in
accordance wth appllcable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice) including Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland"
Th6 law appllcable to charities in England and Wales, the Charities Act 2011, Charty (Accounts and Reports)
Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for
each financial year which give a true and fair view of the state of affairs of the charity snd of the incoming
resources and application of resources, including the income and expenditure, of Ihe charity for that period. Sn
preparing those financial statements, the trustees are requlred to
select suitable accounting policies and then apply them consistently..
observe the methods and principles In the Charity SORP;
make judgements and estimates that are reasonable and prudent.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in buslness.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy
at any tlme the financial position of the charity and to enable them to ensure that the financial statements
comply wlth the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions
of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other Irregularities.
AUDITORS
Knox Cropper LLP have indicated their willlngness to contlnue in office and a resolution to reappoint them as
the Trust's auditor and confirm their reappolntment following their change of status to Knox Cropper LLP will
be put to the Board of Trustees at the forthcoming meeting.
Approved by order of the board of trustees on 19 November 2024 and signed on its behalf by..
•LLL C< S
Rt Rev S Groves - Trustee
Page 4

Report of the Indepondent Auditors to the Tru8tee8 of
Mr8 E.M. Bat•s Trust
Opinion
We have audited the financial statements of Mrs E.M. Bates Trust (the 'charty') for the year ended
31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the
financial statements, including a summary of signrficant accounting policies. The financial reporting framework
that has been applied in their preparation Is applicable law and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practlce), including Financial Reporting Standard 102 The Financial
Reporting Standard applicable in the UK and Republic of Ireland,.
In our opinion the financlal statements:
give a true and fair view of the state of the charity's affairs as at 31 August 2024 and of its incoming
resources and application of resources, for the year then ende(i'
have been properly prepared in accordance with United Kingdom GeneralEy Accepted Accounting Practice,
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Au¢Jiting (UK) {ISAs (UK)) and
applicable law. Our responsibilitles under those standards are further described in the Audilors, responsibilities
for the audit of the financial statements section of our report. We are independent of the charity in accordance
with the ethical requirements that are relevant to our audit of the financial statements In the UK, including the
FRC'S Ethical Standard, and we have fulfilled our other ethical responslbillties In accordan￿ wlth these
requirements. We believe that the audlt evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial statements. we have concluded that the trustee8' use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identifie(l any material uncertalnties relating to events or
conditions that, individually or collectively, may cast significanl doubt on the charlty's ability to contlnue as a
going concern for a period of at least twelve months from when the financial statements are aulhorised for
Issue.
Our responsibilities and the responsibilitles of the trustees with respect to going concern are described in the
relevant sections of this report.
Oth•r Informatlon
The trustees are responsible for the other information. The other information comprises the information
included in the Annual Report, other than the financial statements and our Report of the Independent Auditors
thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly ststed in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statemenls, our responsibility is to read the other information and,
In doing so, consider whether the other information is materially inconsistent with the financial statements, or
our knowledge obiained in the audit or otherwise appears lo be materially misstated. If we identify such
materlal inconsistencies or apparent material misstatements, we are required lo determine whether this gives
rise to a material misstatement in the financial statements themselves. If, based on the work we have
performed, we conclude that there is a material misstatement of this other information. we are required to
report that fact. We have nothing to report in this regard.
Page 5

Report of th• Independent Auditors to the Trustees of
Mrs E.M. Bates Trust
Matters on whlch we are required to report by exception
We have nothing to report in respect of the following matters where the Charities {Accounts and Reports)
Regulations 2008 requires us to report to you if, in our opinion..
the information given in the Report of the Trustees is inconsistent in any material respect with the financial
statements,. or
sufficient accounting records have not been kept; or
the fi'nancial statements are not in agreement with the accounting records and returns. or
we have not received all Ihe information and explanations we require for our audit.
Responslbllltles of trustees
As explained more fully in the Statement of Trustees. Responsibilities, the trustees are responsible for the
preparation of the financial statements which give a true and fair view, and for such Internal control as the
trustees determine is necessary to enable the preparation of financial statements that are free from materia
misstatement, whether due to fraud or error.
In preparing the financial statements. the trustees are responslble for assessing the charity's ability to continue
as a going concern, disclosing, as applicable. matters related to going concern 8nd using the going concern
basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no
realistic alternatlV8 but to do so.
Our respon81blllt188 for the audlt of the flnancl818tatemonts
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance
wlth the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors
that includes our opinion. Reasonable assurance is a high level of assurance but Is not a guarantee that an
audil conducted in accordance with ISAS {UK} will always detect a materlal mlsststement when it exlsts.
Misslatements Can arise from fraud or error and are considered material if, individually or in the aggregate.
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial ststements.
Irregularities, includlng fraud, are instances of non-complian￿ with laws and regulations. We design
procedures In 1Sne with our responsibilities, outlined above. to detect material misstatements in respect of
Irregularities, Including fraud. The extent to which our procedures are capable of detecting irregularitles,
Includlng fraud is detailed below..
We obtalned an understandlng of the legal and regulatory frameworks that are applicable to the Charity
and determined that the most significant are the Financial Reporting Standard 102 'The Financial
Reporting Standard applicable in the UK and Republic of Irdand, (United Kingdom Generally Accepted
Accounting Practice).
We understood how the Charity is complyingwith those frameworks via communlcatlon with those charged
with governance, together with the review of the Charity's documented policies and procedures.
We assessed the susceptibility of the Charlty's financlal statements to material misststement, including
how fraud might occur by consldering the key risks impacting the financial statements. These included
risks associated with Revenue Recognition and Management override of Controls. which were discussed
and agreed by the audit team
Our approach included agreeing the charity's recognition of income to underlying support. the review of
journal entries processed in the accounting records and the investigation of significant and unusual
transactions identified from our review of the accounting records.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws
and regulations. Our procedures involved review of the reporting to the directors with respect to the
application of the documented policies and procedures and review of the flnancial statements to ensure
compliance with the reporting requirements of the Charity.
A further description of our responsibilitles for the audit of the financial statements is located on the Financial
Reporting Council's website at ￿w.frc.Org.uk1audltorsreSponslbILltle5. This description forms part of our
Report of the Independent Auditors.
Page 6

Report of the Independent Auditors to th¢ Trustees of
Mrs E.M. Bates Trust
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the
charity's trustees those matters we are required to stste to them in an auditors, report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the
charity and the charlty's trustees as a body, for our audit work, for this report. or for the opinions we have
formed.
t-fyLLf
Knox Cropper LLP
Chartered Accountants and Statutory Auditors
65 Leadenhall Street
London
EC3A 2AD
19 November 2024
Page 7

MRS E.M. BATES TRUST
Statement of Flnanclal Activities
for the Year Ended 31 August 2024
2024
Total
funds
2023
Total
funds
Unrestricted Endowment
fund
funds
Notes
INCOME AND ENDOWMENTS FROM
Investment income
474,460
474,460
413,527
EXPENDITURE ON
Raising funds
38,383
38.383
35.020
Charitabl• actlvltles
Grants payable
436,077
378 507
Total
474,460
474,460
413.527
Net gainsl(losses) on investments
443 788
NET INCOMEI(EXPENDITURE)
443,788
443,788
{918,753)
RECONCILIATION OF FUNDS
Toial funds brought forward
15
11,203,454 11,203,454 12,122,207
TOTAL FUNDS CARRIED FORWARD
11,647,242 11647 242 11,203,454
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial ststements
Page 8

MRS E.M. BATES TRUST
Balance Sheet
31 August 2024
2024
2023
Notes
FIXED ASSETS
Investments
Investments
Con¢essionary Loan
11,158,169 10.568,872
155.572
207.776
10
11,313.741 10,776,648
CURRENT ASSETS
Debtors
Cash in hand
11
12
39,199
382 617
82,832
441.026
421,816
523,858
CREDITORS
Amounts falling due within one year
13
(88,315)
(97.052)
NET CURRENT ASSETS
333 501
428 806
TOTAL ASSETS LESS CURRENT
LIABILITIES
11,647,242 11,203.454
NET ASSETS
11647 242 11203454
FUNDS
Endowment funds:
Capital Account
Investment Revaluatlon Account
15
10,400,786 10,423,258
1246,456
780 196
11647,242
11,203,454
TOTAL FUNDS
11647 242 11,203,454
The financial siatements were 8pproved by the Board of Trustees and authori5ed for issue on
19 November 2024 and were signed on its behalf by..
£c2fL>-L C• s
Rt Rev S Groves - Trustee
The notes form part of these financial statements
Page 9

MRS E.M. BATES TRUST
Notes to thè Financial Statements
for the Year Ended 31 August 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The presentational currency of the financial statements is Pound Sterling (£).
Golng concern
The trustees consider that there are no material uncertainties about the Charity's ability to continue as
a going concern.
Until 31 August 2024 the Charity held its investment portfolio as an endowment fund and expended the
income generated as grants to its beneficiaries within the Moravian Church. From 1 September 2024.
the Charity will use the total relurn approach to investment and all￿ale the total return from the portfollo
in accordance with its Policies, which state
The Trustees have explicitly decided to preserve the endowment of the Trust, and do not seek to make
any allocation to income that will adversely impact the endowment or fail to respect the intentions of its
donor.. (Investment Policy 13 May 2024)
The Trustees seek to prioritise equally two objectives,
1. To maintain the annual grant of £500 to Gracehill Church, Ballymena, in County Antrim.
To set an(1 maintain a level of annual grants to the British Province of the Moravian Church
(the Church) which as far as possible is predictable and sustainable. and maintains their
purchasing power.
2. Not to compromise the ability of the permanent endowment lo generate future returns which
support and sustsin the Trust's level of grant making in the medlum and long term.
(Reserves and Grant Making Policy 13 May 2024)
The Charity holds its investment portfolio as an endowment fund and expends the income generated
as grants to Its beneficiaries within the Moravlan Church. Its structure means that administration costs
are minimal.
Flnanclal reportlng standard 102 - reduced dl8cIo8ure exemptlon8
The charity has taken advantage of the following disclosure exemptions in preparing these financial
statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland.:
the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the
funds, it is probable that the income will be received, and the amount can be measured reliably.
Expenditure
Liabilities are recognlsed as expenditure as soon as there is a legal or constructive obligation committing
the charity to that expendlture. it is probable that a transfer of economic benefils will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on
an accruals basis and has been classrfied under headings thal aggregate all cost related to the category.
Where costs cannot be directly attributed to particular headings, they have been allocated to activities
on a basis consistent with the use of resources.
Taxatlon
The charity is exempt from tax on its charitable activities.
Page 10
continued...

MRS E.M. BATES TRUST
Notes to the Financial Statements - contlnued
for the Year Endod 31 August 2024
ACCOUNTING POLICIES - continued
Fund accounting
Permanent Endowment Funds are funds given to the Trust to be held as capital. without power to
convert capital to income, and represent the initial gifts and subsequent increases and decreases in the
value of the capital. Realised gains and losses on quoted investments are taken to the Capital Account.
Any excess of the market value of investment assets over the original cost Is taken to the Revaluation
Account whereas, if the market value of investments falls below original cost, the deficlt Is wrltten off
the capital account.
Unrestricted Funds represent income that may be applied by the Trustees in pursuance of the charitable
objects of the Trust.
In accordance with the provlslons of the Trust Deed. the entire net income for the year 18 distributable
by the Trustees to the beneficiaries. Amounts not paid over during the year are accrued for payment
after the balance sheet date.
Flxed assét Investments
Investments are a form of basic financlal Instrument and are initially recognised at thelr transactlon
value and subsequently measured at thelr falr value as at the ba18nce sheet date uslng the closlng
quoted market price. The statement of financial activities includes the net gains and losses arising on
revaluation and disposaSs throughout the year.
Flxed asset Investments
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and
losses on investments are calculated as the difference between sales proceeds and their opening
carrying value or their purchase value if acquired subsequent to the first day of the financlal year.
Unrealised gains and losses are calculated as the difference be￿een the fair value at the year end and
their carrying value. Realised and unrealised investment gains and losses are combined in the
statement of financial activities. The Trust does not acquire put options, derivatives or other complex
financial instruments.
The main form of financial risk faced by the charity Is that of volatlllty In equlty markets and investment
markets due to wider economlc conditions. the attitude of investors to Investment risk, and changes in
sentiment concerning equltles and within certain sectors or sub sectors.
The Charity has extended a concesslonary loan to its primary beneficiary. This is initially recognised
and measured at the amount paid wlth the carrying amount adjusted in subsequent years to reflect
repayments, any impairments and accrued Interest.
INVESTMENT INCOME
2024
2023
Income from listed investments
Deposit account interest
Concesslonary Loan Interest
463,797
6,984
3,679
406.382
2,310
4.835
474,460
413.527
RAISING FUNDS
Investment managemont costs
2024
2023
Investment brokers charges
Page 11
continued...

MRS E.M. BATES TRUST
Notes to the Flnancial Statements - continued
for the Year Ended 31 August 2024
CHARITABLE ACTIVITIES COSTS
Grant
funding of
actlvities
(see note
Support
costs (see
note 6)
5)
Totals
Grants payable
416,704
19,373
436,077
GRANTS PAYABLE
2024
2023
Grants payable
416,704
360,770
The total grants paid lo institutions during the year was as follows..
2024
2023
British Provinc8 of the Moravian Church
Gracehill Church and Its dependencies
416,204
500
360,270
500
416,704
360,770
Charltable activities comprise of grants payable to beneficiaries in accordance with the terms of Mrs
Bates, endowment, and hence the objects of the charity.
SUPPORT COSTS
Governance
costs
Grants payable
19,373
Support costs. included in the above, are as follows:
2024
Grants
payable
2023
Total
activities
Trustees, remuneration and expenses
Pensions
Auditors, remuneration
Trustees, Indemnity Insurance
Accountancy and legal fees
Bank charges
978
6,642
6,120
505
5,068
60
370
6,387
5,280
600
6,040
19,373
TRUSTEES. REMUNERATION AND BENEFITS
The key management personnel of the Trust are those persons having authority and responsibility for
planning, directing and controlling its activities, dlrectly or indirectly, including any trustee of the Trust.
The Trustees consider that key management personnel consist solely of the Trustees and no trustee
received any remuneration durlng the year (2023: £nil).
Trustees. expenses
Three Trustees (2023: three) were reimbursed their travel expenses of £978 in aggregate (2023: £300)
in connection with Trustees meetings. The Trust has no employees.
Page12
continued...

MRS E.M. BATES TRUST
Notes to the Financial Statements - continued
for the Year Ended 31 Augusl 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Endowment
fund
funds
Totsl
funds
INCOME AND ENDOWMENTS FROM
Investment income
413.527
413,527
EXPENDITURE ON
Raising funds
35.020
35,020
Charltable activities
Grants payable
378.507
378.507
Total
413 527
413,S27
Net galnsl{losses) on investments
918 753)
918,753)
NET INCOMEI{EXPENDITURE)
(918,753) <918,753)
RECONCILIATION OF FUNDS
Total fund8 brought forward
12,122,207 12,122,207
TOTAL FUNDS CARRIED FORWARD
11203,454 11,203.454
FIXED ASSET INVESTMENTS
Listed
investments
MARKETVALUE
At 1 September 2023
Additions
Disposals
Revaluations
10,568,872
1,692,872
(1,547,363)
443 788
At 31 August 2024
11,158 169
NEf BOOK VALUE
At 31 August 2024
11,158,169
At 31 August 2023
10 568,872
There were no investment assets outside the UK.
Page13
continued...

MRS E.M. BATES TRUST
Notes to the Financial Ststements - continued
for th& Year Ended 31 August 2024
FIXED ASSET INVESTMENTS - continued
Analysis of quoted Investments by assot class
2024
2023
Other Fixed Interest Stocks
Equities
The Charities Property Fund
3,601.924
3,793,596
3,762,649
2.419,191
4,163,577
3,986,104
Tot81 Market Value
11158 169
10,568,872
The followlng investments individually represent 50/0 or more of the total holding of the Trust:
Number of
unitsl
nominal
value
No.
Market
Value
31 August
2024
The Charitles Propety Fund
Common Inv fund
3.192,202
3,762,649
Historical Cost
2024
2023
At the end of the year
9911713
9 788,675
The above quoted investments are dealt with on a recognlsed stock exchange.
Page 14
continued...

MRS E.M. BATES TRUST
Notes to the Finan¢ial Statements - continued
for the Year Ended 31 August 2024
10. CONCESSIONARY LOAN
2024
2023
Balance at the beginning of the year
Repayments during the year
Interest receivable for year
207.776
(55.880>
3,676
258,824
(55,883)
4.835
Balance at the end of the year
1 $5,572
207 776
2024
2023
Rep8y8ble wlthin 12 months
Repayable outside 12 months
S5,882
55,882
151,894
155 570
207,776
During the year ended 31 August 2017, a loan of £500,000 was extended to The Moravian Union, the
asset holding body of the Moravian Church. The loan was to provide investment funding to The
Moravian Union which is undertaklng a major fixed asset properties repair programme. The loan was
to be repaid over a period of 10 years and was secured against 49 Creighton Avenue. On 4 October
2022 that properly was sold by the Moravian Unlon 2nd th6 loan was repaid. The Moravian Union
purchased a new properly, 5 Winkley Court, agalnst whlch a new loan of £250,000 has been secured
on the same ierms. Interest is charged at a concessionary rate of 20/0 above Barclay's bank base rate
provided The Moravian Unlon fulfils the terms of the loan agreement. The loan is consldered to be a
¢on¢essionary loan.
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2024
Prepayments
Accrued income -
Chartties Property Fund
Accrued Income -
Other Investments
880
32,789
36,191
82,832
Page 15
continued...

MRS E.M. BATES TRUST
Notes to the Flnancial Statements - continu•d
for the Year Ended 31 August 2024
12. CASH IN HAND
2024
Total
funds
2023
Total
funds
On deposit account
On current account
Cash held by Investment Manager
258,480
1,000
123,137
216,579
1,000
223,447
Total
382,617
441,026
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Bank charges
Professional charges accrued
Moravian Union
12,111
76,204
16,782
80,270
88,315
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024
Total
funds
2023
Total
funds
Unrestricted Endowment
fund
funds
Investments
Current assets
Current liabilities
11,313,741 11,313,741
421,816
421,816
10,776,648
523,858
97 052)
11,647,242 11647 242 11203 454
15. MOVEMENT IN FUNDS
Net
movement
in funds
Trdnsfers
be￿een
funds
At
31.8.24
At 1.9.23
Endowmenl funds
Capital Account
Investment Revaluation Account
10,423,258
780 196
(22,472) 10,400,788
1,246,456
443.788
11,203,454
11 647 242
TOTAL FUNDS
11,203,454
443.788
11,647,242
Page16
continued...

MRS E.M. BATES TRUST
Notes to the Financial Statements - continued
for the Yoar Ended 31 August 2024
15. MOVEMENT IN FUNDS - contlnued
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
5osses
Movement
in funds
Unrestrlctad funds
General fund
474.460
{474,460}
Endowment funds
Investment Revaluation Account
443,788
443,788
TOTAL FUNDS
474,460)
Comparatlv08 for movemont In funds
Net
movement
in funds
Transfers
between
funds
At
31.8.23
At 1.9.22
Endowment funds
Capitsl Account
Investment Revaluation Account
10,277,364
1,844,843
145,894
10,423,258
780,196
12,122,207
918,753)
11.203,454
TOTAL FUNDS
12 122,207
918,753)
11203454
Comparative net movement in funds, included in the above are as follows..
Incomlng
resources
Resources
expended
Galns and Movement
1088es
in funds
Unrnstrlcted funds
General fund
413,527
(413,527)
Endowment funds
Investment Revalualion Account
(918.753)
(918,753)
TOTAL FUNDS
413.527
413,527)
918,753)
918.753)
Transfers between funds
Transfers tol(from> the Investment Revaluation Endowment Fund tol{from) the Capital Account
Endowment Fund relate to brought forward unrealised gainsllosses on investments whlch are released
on disposal of investments.
Page17
ntinued...

MRS E.M. BATES TRUST
Notes to the Financial Statements - continued
for th& Year Ended 31 August 2024
16. RELATED PARTY DISCLOSURES
The Moravian Church and one of its congregations are the only beneficiaries of the Mrs E. M. Bates
Charitable Trust and grants paid to the Church and its congregation are analysed in Note S.
Page 18