the Joseph é Rank Irust the Joseph Rank trust Report and financial statements for thc year ended 31 st December 2022 Charity number J093844 Company number 4465857 (A ¢ompary lipnlied by guarantee) the Joseph d Rank rrusi Trustees, report and financial statements for the year ended 315t December 2022 Contents Page Legal and administrative info[ll￿tiOn Report of th¢ T[￿S￿5 3tolO Independent Auditor's report llto14 Slatemenl of fmancial activities 15 B￿ance sheet 16 SLqtement of cash flows 17 Notes forn]ing part of the financial statements 18to25 Grant conmlitments made during the year 26to28 the Joseph o Rank rrusr THE JOSEPH RANK TRUST LEGAL AND ADMINISTRATIVE INFORMATION Charity name Charity registration number Company ￿gIStratIon numlKr Web address Th¢ Josq)h Rank Trust 10938U 4465857 Twitter handle: @joswhRankT￿st Registered offiee and S¢¢r¢thry's office Worth Corner, Turners Hill CRAWLEY, RHIO 7SL Tru#leeJ Mr James IJ Rank (Chaiman) Th¢ Reverend Darren Holland Th¢ Reverend Carole Holmes Th¢ V¢ry Reverend John Iryine Mr Joseph Piers Jennings Ms Gay Moon (Vi¢e-Chalrmt7n) Mr Colin Rll Rank Mrs Sue Warner (113.4) (21 {21 11,3,41 11.3.41 (C'ommittee member5hw.' l = FInaP￿ 2 = Mdhodift FyndAdviY(ry Gro41. 3 - Nominalions, 4 - Appointments) Sthff Dr John H Higgs PhD MSC (City) MA (lthd) MA IKir48rn) BA (H￿) Mr Alan T Lester FCA Accountant Auditors Moor¢ Kin8Ston Smith LLP. Betchworth House. 57A5 Station Road REDHILL, RHI IDL Bankers Barclays Bank plc. 114 Fenchur¢h StreeL I￿N[K}N. EC3V OBB lllvestment 4dvi8¢rs CCLA. l Angcl Lan4 LONDON EC4R 3AB Whitley As5Ct Managem¢nt Limitd. 116 PrinceAJale Road LONtX)N Wl 14NH (until 22.4.2022) Soli¢itorJ Bates Wclls. 10 Quccn Str¢th Place. LONtK)N, EC4R IBE the Joseph a Rank trusr THE JOSEPH RANK TRUST REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2022 TRUSTEES, REPORT The Board of Trusteffj who also s¢rved Company DI[￿t0[5 during the year, of The Joseph Rank Trust ('the ChaTity'. 'TnJst' or 'Company') present their rewirt for thc year ended 31 D￿ember 2022. 11)e Trustees confirm that th¢ f￿ancIal statements have been preparcd in a¢¢ordAn¢¢ with the Companies Act 2006. the Trust's governing document and the Ststement of Recommended Praclice applicable to charities prcparing a¢¢ounts in accord8nc¢ with FRS 102. eff￿tive l Januory 2019. REFERENCE AND ADMINISTRATIVE DETATIS The Trust is a charitable company limited by guarantee. It w&$ incorFK)rated on 2￿ June 2002 and re8iStered as a charity on 18th September 2002. The Company was established under a Metnorandum of AsS￿latiOn. which established the obJ￿ts and powers of the charitable company and is governed under its arti¢l¢s of a￿)ciation. In the event of the Company being wound up members ar¢ r¢qui]rd tt) contribute an amount not ¢xceeding £1 eaclL On 31* December 2002, th¢ Company succeeded to the undertaking {including all assets. subject to all liabilities) of The Joseph Rank Benevolent TnL5t. The assets of that Trust comprised the Methodisi Church Fund, a Restricted Fund to be applied for purposes connected with. or for the bencfit of, Methcdism and a General Fund. available to be applicd to support wider charitabl¢ objects. 'rhe JosLph Rank B¢n¢volent Trnst itself. which w&5 estsblished on 29th April 1999, succccded to th¢ undertaking of The Joseph Rank Benevolent I rusl (No. 3). which was esiablished on 18, April 1929. The Joseph R4nk Benevol¢nt Trust (Trjo. 3) succecdd to the und¢rtAkings and 8malg8mation of The Joseph Rank Bencvolcnt Trust (No. 2). which was cstablish¢d on 1° October 1918, Tho Joseph Rank Benevolent Trust (No. 4). which w&8 e#ablisha on 23" June 1931. and The Jos¢ph Rank (1942) Tru3L which was ethbliSh￿ on 21* April 1942. All of these Trusts had been cstabli$h¢d by the late Mr. Joseph Rank or by membeJ8 of his family. Following a r¢solution made by the Tr￿ at the 2009 AGM. The Registrar of Companies for En8land and Wales authorised a change of name of the charity from The Joseph Rank Trust Limited to The Jos¢ph Rank Trust. The change came into effect on 151h June 2IKI9. STRUCTURE. GOVERNANCE AND MANAGEME The Trust is governed by its Memordndum and Articlcs of As%)ciation adopted on @ June 2002. Thc Trustees mcet four times during the year to govern the Charity. Tntst¢¢s' m¢%lings include Board meetings whcrc Trustees review strategy. opcrational and inv¢simcnt perfornian¢e and the setting of operating plans and budg¢ts. An Annual General Meeting is held in July. The Trust is a member of the Charity Finance Group and the Secretary is an a¢tiv¢ member of th¢ Foundation's Forum. the Wales Fund¢rs Forum and the Christian Funders, Forum. Effective partn¢rship FKtween TrustKs and staff continues to contribute significantly to our success. The Board delegates the exercise of ¢e￿in powers in connertion with the management Ihe Joseph d Rank rrusr THE JOSEPH RANK TRUST REPORT OF THE TRUSTEES (CONfINUED) YEAR ENDED 31 DECEMBER 2022 and adrninistrntion of the Chariry as set out below. This is controlled by regular reporting back io the Board, so that all decisions made UDder delegat¢d FX)wers are ratifid by the full Board. The athninistrdtion of the Trust is dir￿ by the Board of TnL9t￿ with certain aspects of the work being delegatd to four committees: li) finance. (21 methodist fund advisory group. {3) nominations and14) apEK)intment4 which bave defill￿1 ternis of reference. The primary function of the finance committee is to monitor the perfomiance of thc investment advisers and to keep the main Board advised of the level of funding available for the purposcs of making grants. It also oveT5CCS thc gcncrnl financial thinistrntion of th¢ Trnst. The Methodist Fund Advisory Group is resp)nsibk for ￿nSiderIng in detail appeals submitted by churches. circuits and districts of The Methodist Church of Great Brilain and The Methodist Church in Ir¢land. and thereafter to put forward recommendations to th¢ main Board. Both the above commiltees mct fo￿allY four times during the year. The nominations committee is responsible for k¢eptng under review the constttution of thc Board and making recommendations on the appointment of new Trustees. The app)intments committee was establish¢d to put T¢wmmendation$ on stsff matters to th¢ Board. All of the Trustees are Involved in the grant-making process of the Trust. Th¢ S¢¢r¢tary is r¢sponsible for the daY-t￿daY m&n8g¢mcnt of thc Tn￿1 and for impl¢mentin8 policies agreed by thc Board of Tn￿te¢s. The Accountant assists th¢ Secretary and is responsible for the 'frusl's financial matters. Rccrultment and illtmen¢ ofTrust The Trustees are also Directors for the purposes of Companies Act 2006. Under the provisions of clause 12 of the articles ol asK￿I8t1on, a Chairnian is elecl¢d for a terni of five years. Mr. James Rank was re-elethd Chairn)an in July 2022. His office will run from October 2022 to OCto￿r 2027. a period of five years. Each year. at the &nnu81 general meetin& one third of the eligible Tn]stees retire by rotation. At the forthcoming annual genffal meetin& The ReVer￿d Carole Holme& Mr Joseph Piers Jennin8s and Ms. Gay Moon retire by rotation and bein8 eligibl4 offer themselves for trelection. Under the provisions of clause 7(1) of the articles of aswiation. Trusts are appointed by resolution of the Board following recommendations put forward by the Chairman. Clause 7{2) of the articles of association stipulates th8L in selecting tKrsons to be appointed as Truste¢& account shall be taken of the FKneftts of apFK)inting a person who is able, by virtue of his or her pcrsonal or professional qualification4 to contribute to the pursuit of the objects or management of the Tn￿. All Tnths are required to declare at the AGM all relevant interests, details of which are kept in a Register of Interests which is mainfained by the Secretary. the Josepho Rank trust THE JOSEPH RANK TRUST REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2022 Truslee roles induction aDd tr*iniD The 'l'rustees all have skills that enabl¢ them to contribute to the work of the TrusL Thos¢ skills a kept up to date by a combination of their involvement with the work of the TTr￿ both in reading atrf)ut specific areas of the 7'n￿'S work and visiting proj￿ being supported by th¢'frust. In addition, Trustees ar¢ provided with copies of literature pTThlu¢ed by th¢ Charity Commission And oth¢r organis&tions dealing with changes in legislation and current 8￿1 prdctice. Trustees also participat¢ in Friodic 'Blue Skies days. where the work of the Trust and possible future initiatives ar¢ considerejj away from the olTi¢¢ with the help of an independent facililator. ¢a¢ement f Trustees, Res Dsibilities Th¢ trustees (who are also directors of Th¢ Jos¢ph Rank Tn￿l for the purposes of company law} are responsible for preparing th¢ Trustees. Report and th¢ financi81 statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Genernlly Accept¢d Accounting Practice) including FRS 102 'Thc Financial Reporting Stsndard applicable in the UK and Republic of Ireland,. Company law Trquires trnstees to prepAre f￿an¢t41 stAtements for each financial year which give a truc and fair view of th¢ state of affairs of the Charitable company and of th¢ incoming rcsouw¢$ and application of reSou￿¢s. including the in¢ome and expenditurc. of the ¢haritable company for thal period. In prcparin8 thc financial Statemen￿ th¢ ¢rust¢es arc required to.. select suitsble accounting poli¢i¢s and then apply them ¢onsistent]y' observe th¢ methods and principl￿ in th¢ Charities SORP. make judgements and estimates that are rea9)nable and prnden stAte whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the fmancial statements; at prepare the financial statements on the going Concern basis unless it is inappropriate to presum¢ that the charitabl¢ ¢ompany will ¢ontinue in busines5. The trustees are responsible for keeping adequate accounting records thal JiSLlob¢ with r¥￿SUnabl￿ accuracy at any time the financial w)sition of thc charitable company and to enable th¢m 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 taking reasonable steps for the pr¢v¢ntion and detection of fraud and other irregularities. the Joseph é Rank trust THE JOSEPH RAIYK TRUST REPORT OF THE TRUSTEES {coNfINUED) YEAR ENDED 31 DECEMBER 2022 In so far as the trnstees are aware: there is no relevant audil inforniation of which th¢ ¢haritable ¢omp2ny's auditor is unaware. and: the trustees have taken ail stcps that they oughi to bave taken to make th¢mselves aware of any relevant audit inforniation and to establish that thc auditor is aware of that inforniation. Th¢ lrnstees are responsilTrle for the m8intenanee and integrity of the corpornte And financial infomiation included on the charitsble company's website. tL8islation in the United Kingdom governin8 the preparation and dissemination of fuw¢ial statements may differ from legislation in other jurisdictions. OWECTIVES. ACTIVITIES AND ACHIEVEMENts The Trnst's ￿gis￿red objects are: to advan￿ th¢ Chri8ti8n faith: to further any other objeLts or purp)ses which arc cxelusively charitsbl¢ a￿rdIng to the18ws of England and Wales in force from time to tim¢. Grant mgkin The TruslcLS Tncet th¢ obj￿tIveS through iwo main wtivities: l. Projects that d¢monstrate a Christian approach to thc pra¢ti¢al, educational and spiritu nccds of people of all ages. 2. The adaptstion of Church properbes with a view to providing improved facilities for use by the church and its work in the community in which it is baseiL with due rewd to the requirements of the Methodist Church Fund Ca restr￿¢edfv￿). In making grants for the adaptation of Church propertie4 the Trustees work with all denominations plus ¢hur¢hes. circuits and districts of The Methodist Church of Great Britsin, and The Methodist Church in Ireland. Consideration is given to Churches th* advance the Christian faith by funding pmjccts that meet the soctal needs of the community around them. After supp)rting these main aclivitics, the Trustees are p￿par￿ to consider oth¢r appeals, although Tesourcc5 rcmainittg to support such appeals are limited. Other appeals which are selected for consideration by the Tn￿ musL in their view. demonstrate a Christian appr￿h to the practi¢al. educational and spiritual needs of people. The Trustees do not consider appeals from individuals. unregistered organi5aiions or from charities for the bencfit of named individuals. rhe Joseph é Rank trust THE JOSEPH RANK TRUST REPORT OF THE TRUSTEES (coiYfiNUED) YEAR ENDED 31 DECEMBER 2022 When considerfng appeals io the TnM if there any contlicts of inierest thal arise from agenda item& the Trustee in question is required to withdrdw from any subsequent discussion as deemed appropriatc by the Chairn]an, and this is no￿] in th¢ minut¢s of the meeting concerned. The Trust's online During the year. the "l rnsl maintained its existing websiie www.rankirust.org and a social media prescncc on 'l'witt¢r using th¢ handle CuJJosephRankTrust At the end of the year the Trust had 1,156 followers and achieved 36209 twitter impressions (nwnber oftimes users saw our hveeis) during the year. 'lThe l rnst's website publishes important inforniation on what the TNst aims to do. how to apply to the Trust for fundin& and Wh￿ the Trust has been doing. This infonnaiion i5 available free to all V15iiors. The Trust makes available a grdnt map on the homepfjge to showcw its grants. Since 2017 the Trust has Submitted its grant data to 360Givin8 www.threesiKtygiving.or8 Public Bellefi The 'l'rustccs have complied with section 4 of the Ch8riti¢s Act 2006, having duc regard for the Charity Commission's guidan¢¢ on public benefit when reviewing the Tn￿t'S aims and objectives, when setting the ￿an1 making policy and in makin8 awards. The 'l'rustees are satisfied that th¢ Trust meets the public benefit tcquir¢meni by 5UPPOrting a wide and diverse rang¢ of charitablc activities. and th¢y care￿IEY review the public benefit impa¢t when con.sidering grant applications and continuc to support only UK registered charities. Aehievemell and rfonnanc¢ The Trust aims to ideniify and support ¢h8rities which can demonstrat¢ that they can deliver su¢¢¢ssful outcomes on behalf of individual4 groups and communities they seek to serve. Through the Trust policy of visiting app￿1& iM)th prosFVtive and existin& we are constsntty surprised to discover the diverse and wide range of activitie5 and suppli¢s that are delivered to front-line benefi¢i4ri¢s. As a responsive grant-makor. with a grant-plus methodology (nol only givingfinarycial support b where appropriole imparlprojecl-relevanl knnwledge al￿ hestpraclice). we op¢rate ￿[Os5 a large num￿[ of SU￿5¢¢torS in the Christian and faith-based commwlities that we serve. Sce www.ranktrust.o@caiegorisedlinks.htm for fuTther details. the Josephé Rank rrusi THE JOSEPH RANK TRUST REPORT OF THE TRUSTEES (coNfiNUED) YEAR ENDED 31 DECEMBER 2022 A significant area of our fimding is core funding or revenue fundin& which is awarded to chartties in both a restri¢i¢d and unrestricted way. During th¢ year. grAnt commitments totalling £2.551,500 (2021.. £2.682.250) w¢r¢ made of which £447.000 (2021.. £398.000) representcd Commitments to Methodist chU￿h appeals &nd £2.104.500 (2021: £2.284,250) repres¢nted commitsnents to commwlity s¢rYic4 education and youth projects. A summary list of commithi¢nts is primluced lat¢r in this rewrt (pages 26 to 28) showin8 the geographical spread in the IJK based up)n Royal Mail postcodes. Despite the pandemic the Trnst continued ils IX)licy of visiting proSp￿tIve and existing app¢als and 2(K> visits were made by the Secretary and Trllstees. This was made possible by the Covid-19 exemptions granied by the prevailing guidance issued by the UK authoritie4 and the goodwill and hospitality of the charities hosting the visits. Detsils of grant commitments are given between pag¢s 2610 28. FINANCIAL REVIEW Investment 'lThe main inveslment objectives are to protect the investment portfolio from the effects of inflation. th¢r¢by providing funds to respond to identified needs whilst also securing the capilal base for the long-terni future. In deciding upon investsnent4 the 'frust's investmcnt adviscrs adopt a Socially Responsible Inve￿ment (SRI) policy that in¢ludSt-pand¢mic. Re5¢rYes oli Th¢ unly restriction that the Memorandum and Articles of Asswiation Pl￿ on the use of capital is that the resources of th¢ Method1￿ Chur¢h Fund must applied for purposes ¢onnected with, or for the benefit of. Methodism. The work of thc Tn￿l is dcpend¢nt up)n th¢ inwm¢ prcrtluced by the itiv¢sthi¢nt portfolio. As at 31. December 2022. it is estimated that it will pr(Kluce a return of at least 3 /• whith will be suffiGi¢nt to en&ble the Trust to ￿ntinUe with its established F*tt¢rn of 8rant making. the Joseph o Rank trust THE JOSEPH RANK TRUST REPORT OF THE TRUSTEES {coNfiNUED) YEAR ENDED 31 DECEMBER 2022 At 3151 December 2022 the reserrf¢s within the Gcneral Fund amounted to £69.707m (2021.. £80.388m) and within the Methodist Church Fund £16.774m (2021.. £19.329m). As ststed above, the reserves are rwuired to produce an inLX)me sutTici¢nt to enable the Tn￿ to finance its work. The Trust's policy is to nol make substantial incre&ses in T￿erveS. which. at their ¢unMt level, 8Te considered adequat¢ to finance the work of th¢ TnisL It is anticipated that resourc￿ expendcd in any one year might not always match incomtng resources with the result that the level of reserves will fluctuale in addition to any increases or d¢¢tr&8es because of movements in the value of investments within the wtfolio. The InCTe￿ in the value of the portfolio is explained on pa8e 8 in the inveslm¢nt p¢rforniance section. The Finan¢e Committee continues to review th¢ res¢rves policy and the l¢v¢l of reserves held on an on-going basis to ensure that they 4r¢ adequate to fijifil the Trust's commitments and to ensure financial sthbility. F￿ch year the Board of Trustees examines all areas of the Charity's operations and consider what major risks may arise in each of thcsc areas. The principal risks ar¢ th¢ loss of our 2 staff (interna]) and a si8nific8nt downturn in the economy (external). In the opinion of the 'l-rustees, the Charity h&s cstabli5hed pr(￿dur¢S and review sysl¢ms to manage these risks. In addition. th¢ Finance Committee considers risks specifically related to finance and investments at each of their meetings, with any issues raised being reported to the main Board of Trustees. As cxplained at note l(a) to the financial statcmcnts. thc TTUStees have c¥Jnsidered the likely iMp￿t of Covid-19 on the Trust and they do not believe it will have a malerial impact on the ability of the Trust to continu¢ to meet its charitable objectives. Relr4ted arties The Trust does noi have any directly related partics. Staff sAlarle8 The Finance Committee fornially reviews the stsff salaries and conditions year and makes recomm¢nd8tions to the main Board of Trust¢¢s. Auditor Moore Kingston Smith LLP has Indicat￿ its willingne55 to ¢ontinue in office. FUTURE PLANS The Trust plans to continue the a¢tivities alon8 its e5tsblished lines and will be responsive to new developments by organisations that qhare the Tn￿,5 objerfives. Th¢ Trustees intend to continue to follow a slrnte8y that has the following ain]s'. (i) to bc prfractive in the approach to grnnt 8ivin& thejoseph o Rank trust THE JOSEPH RANK TRUST RKPORT OF THE TRUSTEES {coNrtNUED) YEAR ENDED 31 DECEMBER 2022 (2) to provide a grant-plus approach (not only givlngfv￿￿l suppori where appropriale imparl projeet-relev¢yts knowledge besl prt*lice), its dealings with charities seeking {31 to collaboratc and network with other Trusts and organisations with similar objectives: {41 lo take steps to increase income; {51 to promote best practice in the use of church and community buildiogs. {61 to b¢ transparent. pro-active and open with our grant dat The Trustees are content that Mr jo￿ph Rank our founder. would approve of the efforts of the Trust over the last year and would be satisfied that the Trust is meeting the rnornl and legal obligations that it owes to its bencficiarics and to its benefactors. Approved by th¢ Trustees of The Joseph Rank Trust (cknty n¥mber IOP3844 and company nwnber 4405857) on 20 April 2023 and signed on its behalf by: J.B. RANK Chgirman io the Joseph o Rank rrusi INDEPENDENT AUDfroR'S REPORT TO THE MEMBEKS OF THE JOSEPH RANK TRUST Opinion We have audited the fmaDcial statem¢nts of The Joseph Rank Tn￿ ('the charitsble company,) for the year ended 31 December 2022 which comprise the Statement of Financial Activities including the Income and F,xpendilure AccounL the Balance Sheet. the C&sh Flow Statement and notes to the financial statements. including signifi¢ant ￿0￿ntIng policies. The financial reikning framework that has been applied in their preparation is applicabl¢ law and United Kingdom A¢wunting Standards. including FRS 102 'The Financial R¢porting Standard Applicable in the UK and Rcpublic of Ireland, (United Kingdom Genernlly A￿epted Accounting Practice). In our opinion the fuwicial statements: give a true and fair view of th¢ 5t&te of the charitsble company's affairs &s at 31 December 2022 and of its incoming r¢souro¢s and application of r¢sourc¢& includin8 its inwm¢ and ¢xp¢nd&tur¢, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in a¢wrdance with thc requirements of the Companies Act 2006. Basis for opillion We ¢ondu¢ted our audit in accordance with InternalioDal Standards on Audiling (UK) (ISAS (UK)) and applicable law. Our responsibilities under those stsndards are further described in the Auditor's Rcspvn5ibilities for the audit of the financial statements section of our rcporL Wc are independcnt of the charitable company in accordance with thc ¢thical rcquircments that r¢levant to our audii of th¢ financial statements in the UK. including the l.-RL's Ethical Standrf and we havc fulfilled our oiher ethical rcsponsibilitics in accordance with th¢se requiremcnts. We b¢li¢ve that the audit ¢vid¢n¢e we have obtained is sutficient and appropriate to provide a b&sis for our opinion. Conelu8iong re]8dng to going Collcern In auditing th¢ f￿ancIal statthi¢nty we have concluded that the trustees, use of the going concern basis of counting in th¢ pr¢paration of the finan¢ial statements is appropriat¢. Based on the work we have p¢rfOrnle￿ ￿ h8v¢ not identified any m8tsrial uncertainties relating to events or nditions thal individually or collectively. may c￿t significani doubt on the charitable company's ability to ¢ontinue as a goin8 Concern for a period of at le&8t twelve months from when the financiai statements are authoris¢d for issue. Our responsibilities and the responsibilities of the tTUStees with rw to going concern d¢scribed in the r¢l¢vant section5 of this Jrport. Other inforniAtIo The other inforniation ¢ompriscs the infornlation included in the annual r¢porL other than the financial statements and our auditor'5 Teport thereon. Th¢ trustees are respon5ibl¢ for the other infonnation contained within thc annual report. Our opinion on th¢ fmancial 5tatcm¢nts does not cover th¢ oth¢r infomation and, except to the extent otherwise explicitly stated in our rewtL we do not express any fonn of ￿urall¢e conclusion thereon. Our re3ponsibility is to tht othtt Anfomjation an4 in doin8 $0. consider whether the other inforn)8tion ig materially incon5i5tcnt wtth the fllwicial statements or our knowledg¢ obtained in the cours¢ of the audit or the Joscph o Rank Irusi othenvise appears to be materially Misstat￿ If we identify such material inconsistencies or apparent material misstatements. we are required to det¢rn)xn¢ whether there 15 a material misstatem¢nt in the f￿ancIal statements themselves. If, based on the work we have perforni¢& we wnclude that there is a material misstatement of this other inforn)ation. we are required to report th* fact. We have nothing to report in this regard. Oplnlons on oiber matters prescribed by the CompAnle8 Act 21M16 In our opinion. based on the work undertaken in the course of the audit: the inforniation given in the trustees. anrtual report for the finonciAI year for which the financial statements are prepared is wnsistent with the financial ststcm¢nts' and the trustees. annual report have been prepared in accoTd8nce with applicable legal requirements. Matter6 on which we *rt requlred to report by exceptio In the light of the knowledge and understanding of the company and its environm¢nl obtained in the course of the audil, w¢ have not id¢ntified material misstsiements in the trustr¢s' annual reporL We have nothing to r¢port in reSp￿t of th¢ following matters where the Companies A¢t 2006 requires us to rewrt to you if. in our opinion". adequate accounting rewrds have not t*en ke￿ or returns adequa* for our audii havc nol b¢¢n receivcd from branches rtot visited by us; or the financial ststcmcnts arc not in agreement with the a¢¢ounting records and returns: or certain disclosures of trustees, remuncralion specified by law are not madc. or wc have not received 811 the information and explanations we require for our audiL OT the trustees were nut entitled to preparc th¢ fllwlcial sIat￿nCnts in accordanc¢ with the small companies rcgime and tske advantag¢ of the small companies exemption in preparing the trustees, 8nnual report and from preparin8 a strAle8ic reporL Respongibilltle8 of tr￿le¢5 As explained mor¢ fully in the trustees. resFx)nsibilities slatement set out on page 5. the tnjstees (who are also the directors of the charitsbl¢ company for th¢ purp)ses of company law) are responsible for the preparntion of the financial slatements and for king satisfied thai they give a true and fair view, and for such internal control as the trystees detemine is necessary to enabl¢ the preparation of fjnancial statements thxt Are free from material misststem¢n¢ whether due to fraud or error. In preparing the financial statsments. the trustees are res￿nSIble for assessing the charitable company's ability to Lontinue as a goin8 Conce￿ diglosin& &s applicable. matteTS related to going Concern and using ihe going concern basis of accounting unl¢ss thc truste¢$ either intcnd to liquidate thc charitablc ci)mpany or to &qe operations. or have no realistic alternative but to do so. Audltor's Re8ponsibilitiey for Ibe audit of the fiDgnciAI statements Our objectives are to obtain r￿Onable assurdncc alK)￿ whether the financial slalements as a whole ar¢ free from material rnisstatement, whether due to fraud or error. and to I￿Ue an auditor's rerK)rt that includes our opinion. Reasonable a&surance is a high level of assurance. but is not a guarantee that an audit conducted in Accordance with ISAS (UK) will always detect a material mtsstatement when it exists. Misstatelnents Can artse from fraud or error and are considered material if. individually or in aggregate. they could reasonably be expected to influence the economic decisions of users tsken on the b&sis of these financial st&tem¢nts. 12 the Joscphé R2nk trust As part of an audit tn accordance with ISAS (UK) we exercise professional judgement and maintain profcsstonal scepticism throughout th¢ audit. We also: Identify and assess the risks of mat¢rial MiS￿Ment of the f￿anCIal statements. whether due to fr&ud or eTror, design and pcrfomi audit proced￿ ￿￿E￿)nsIve to those risk& and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one ￿sUlting from etTor. as frnud may involve collusion. forgery. intentional omission& misrepffsentatiOTLS. or the override of internal control. ObtAin an understanding of internal control relevant to the audit in order to design audit proC¢du￿$ that are appropriat¢ in the CiTcumslance4 not for th¢ purtK)ses of exptEssing an opinion on the effectiven¢s5 of the charitable cnmpany's internal control. Evaluate the appropriateness of accounting policies useAJ and the reasonabl¢ness of accounting cstimates and related disclosur&s made by the trustees. Conclude on the appropriateness of the trustees. usc of the 80ing concern basis of accounting and, based on the audit evidence obtained. whether a material uncertainty exists relaied to ¢v¢nts or conditions that may cast Significani doubt on the charitable company's ability to continue as a going concern. If we conclude that a mat¢rial uncertainty exists, we are rwuired lo draw attention in our auditor's report to the related disclosures in the fmancial statements or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on th¢ &Ltdit evidence obtained up to the date of our auditor's report. However. future events or conditions may cause the charitablc company to cease to continue as a going concern. Evaluate the ov¢rnll presentstion. strncture and content of the financial ststements, including the disclosures. and whether the financial stateTnents reprcsent the undcrlying transactions and cvcnts in manner that achieves fair presenlalion. We communicate with those char8ed with gov¢rn8nce regardin& among other m8tters. the planned scope and timing ofthe audit and significant audxt finding4 includin8 any significant dcfi¢i¢n¢i¢s in intcrnal control that we identify during our audit. Explanmtlon ￿ to what extsD¢ th¢ audit waj coMid¢red eapable of dete¢littg irregularitie4 inelMding fraud Irregularities, including fraud. are instan￿5 of non-compliance with laws and regulations. W¢ design procedure5 in line with our responsibilities. outlined aknve. to d¢te¢t m8ierial mi5Statem¢nts in respect of irregulariti¢s. including fraud. Th¢ extent to which our pr()cedu￿S are capable of detecting irregularities, in¢ludin8 fraud is detailed below. The objectives of our audit in respect of fraud are: to identify and &ss¢ss the risks of material misststement of th¢ fin&n¢ial 8tatements du¢ to fiiud. to obtain sufficient appropriate audit ¢vidence regarding the assessed J'iJkJ of. matcrial misstatcm¢nt du¢ to fraud. through d¢tsignin8 And impleTnenting appropriate responses to those ￿eSSed risks; ond to respond appropriately to instances of fraud or su5￿Cted fraud idenlified during the audit. Howevcr, the primary responsibility for the prevention and defrction of fraud rcsts with both management and thos¢ ch8r8d with governan¢¢ of the charitable company. Our approach w&$ as follows. We obtained an understanding of the legal and regulatory requirements applicable to th¢ Charitable company and consid¢r¢d that th¢ most significant arc the Compani¢s Act 2006, thtr Chariti¢s Act 13 The Josepho Rank trus 2011. th¢ Charity SORP. and UK fi[￿iCial reporting standards as issued by the Financial RqN)rting Council. We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those Charg￿ with governanLY. We assessed the risk of matsriaj misstatement of the financi21 stAtements. including the risk of material misstatemeni due to frdud and how it might ¢xcur. by holding di5¢USSiOJ)s with management nd those charged with govern8n¢e. We inquired of management and thos¢ ¢haTg￿ with governance &$ to 8ny known instances of noD- Compliance or SUS￿Cted non4ompltance with laws and regulations. Based on this understanding, we designeA specific appropriate audit PT(Kedures to identify instances of non-wmpli8nce with laws and regUl￿10n$. This included making enquiries of management and those eharged with governance and obtaining additional eorroiK)rative evidence as required. There are inherent limitations in thc audvt PTc*¢dur¢s d¢wiiKd above. We arc less likely to become &war¢ of instances of non-compliance with laws and regvlations that are not closely related to events and tr8nsactions reflected in th¢ financial ststements. Also, thc risk of not detecting a material misstatem¢nt du¢ to fraud 1$ higher than the risk of not detecting one resulting from error. &8 fraud may involve dclibernte conc¢alment by. for example, forgery or intentional misrepr¢sentstions. or through collusion. Use ofour r¢port This rep)rt is made solety fo the charitable compony's memlxr4 a5 a iKNay? in ac¢ordance with Chapter 3 of Part 16 of th¢ Companies Act 2006. Our audit work has tten underlaken so that we mighi state to the company's mcmb¢rs those mAttcrs we are requirtyj to slal¢ lo them in an auditor's report and for no oiher purpose. To th¢ fullest extent pcrniittd by law. w¢ do not accept or assumc r¢S￿nsibIlItY to any party other than the charitable company and charitable company's rnembers a5 a body. foT our audit worl for this report, or for the opinions we hav¢ fornied. James Saunders (Senior Statutory Auditor) for and on behalf of MIM)re Kingston Smith LLP. Statutory A￿ltOr 17 * 2&LJ Bctchworth House 57-65 Ststion Road Rcdhill RHI IDL 14 Ihe Joseph é Rank rrust ststement of finYdDciAI YdCtivitie8 for tbe year ended 31 Deeember 2022 (IneludiDg Income and Expenditure Ac¢ouDt) 2022 2021 General methodi￿ Tothl Fund Church Funds Pund Methodist Church Fund Total Funds Fund Notes £'o £'ooo Ineome from Investment income l(c) & 2 2,040 513 2.553 1.981 502 2,483 Donations Total 503 Expenditure ott: Charitable Activities 3&4 2,346 452 2.798 1452 353 2.805 TotV41 452 Realiscd net gains(losses) on disposal of investments (1.453) (363) (1,816) 2.952 795 3.747 Unrealised gains (losses) on revaluation of inveslments (8.922) (2.253) (11,175) 6,587 1.614 8,201 Net in¢om¢ (deficit) alld nel movemelll funds (10.681) (2.555) {13230) 9,068 2,559 11,627 Reconcilialion of fundj: Total funds brought forward Total funds ¢arrled fonvgrd The statemert of financial activitie5 includes all gains and losxs in the year. All incoming resources and resourtts eX￿nded derive from wntinuing a¢tivili¢s. 15 rhe Joseph o Rank trust B41gnce shttt at 31# December 2022 2022 2021 General Methodtst Totsl FuDd Church Funds Fund restricted General Fulld Methodist Church Fund restricted Total Funds £'ooo Fixed assets Invcstmcnts Tangible &s8ets 70.678 17.S42 88.520 81,124 20.475 101.599 10 88.520 10 Current assets Debiors Cash at bank 508 128 636 465 118 583 657 1.471 (470) 1,001 1.743 (503) 1.240 Creditors Amounts falling due within one year Net current ass¢ts (liabilities) 12 529 546 335 Total &ssets less current liabilities 70.132 16,843 86.975 80.790 19,416 100.206 Cyrants payable after more than one year 13 425 494 402 87 489 Net assets Total funds Unr¢stri¢t¢d funds 69,707 69,707 80.388 80,388 R¢5tricted ￿Thds Th¢ not¢s on page5 18 to 25 forni part of awwits. These accounts are prepArd in accordance with the provisions of the Companics Act 2006. Approv¢d by the Trust¢¢s of 'fhe Joseph Rank Trust (cwnwnber 4465857) and authorised for Issue on 20 April 2023 2nd signed on their behalf by: Dir￿tOrS 16 the Joseph é Rank rrusr Statement of eash flows for the year eDded 31st December 2022 2022 2021 Totsl Funds Funds C#8h used in operating activities Cash flow8 from investing activities Investment income 2,501 2.612 Purchase of r￿ed assets Pr￿eedS from sales of investhients Purchase of investrnents and additional deposit 18,(K15 20.100 20 C*$h prnvidtd by Investing a¢¢iviti (Decre￿￿lnLrease in cash in the year Cash and cash equivalents at the b¢8innins of thc year Total cash and ¢a$h equivAkDts At the end of ihe year (292) (95) 657 752 Reconciliation of net movement Sn funds to cash flow from operating a¢ilvilies Net movement in fijnds statement of financial a¢tiviti¢s {13236) 11,627 {Gains)losses on iovestments 12.991 (11.948) Investsnent Income (Incr¢as¢)Decrease in debtors Increasel(decrease) in creditots (2.553) (i) (88) (2.483) (8) Increascl{dwrwe) in grants du¢ after l year Net cash used in operating activitiE5 62 17 rhe Josepha Rank rrust Notes forniing part of the finaDcia] statsments for the y￿r ended 31 December 2022 l. Accounting polici¢5 The fjnancial statrments have Eten prepared in a￿rdance with A¢¢ounting and Rep)rting by Charities: Statement of Recornmended Practice applicable to charities preparing their aca>unts in a¢¢ordante wtth the Fillanciat Rep￿ing Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP RS 102)), the FillattciAI R¢poning standard applicable in th¢ UK alld Republic of Ireland (FRS 102), and the Companies Act 20(￿. The partieul8r aecounting policies adopted by the Tnjgtees are described below.. (a) Aecoulltlllg Convention and ￿¢59￿¢￿¢ of golllg concern The financia] statements have been pr¢p8red UDder the histori￿] ¢onventioJL as modified by the inclusion of fixa &qset investments at mid-m8Tket value. The Tn￿teeS consider that there are no aterial uncertainties ￿E￿ut th¢ Tru￿'S abilty to continue as a going ¢oncern. The most significant areas of adjustmenl and key &%sumoions that affect items in the accounts are w do with estimating the liability from multi-y¢ar grant comrnitments (see note l(d) and notes 12 ond 13 for more imforniation). With re$￿tt to the next repoTtiDg p¢riixl. the year ending 31. December 2023. the most significant areas of un¢¢rtainty that afftet the caTrying value of ass¢ts held by the Trust 8tt the level of investsnent return and the ￿rOm)art¢e of the inve5tyn¢nl m¥rk¢ts (see the Financial Review on pages 8 and 9 for more infomi8tion) inctuding the impact of the conflict in Ukraine and a5so¢i*ed ¢¢onomic pressures. Th¢s¢ financial ststements art Prepared in sterling which is the function41 ¢urrency of the charitable company. Monetary amounts in these financial sw¢m¢nts are rounded to the ntar¢si one thouwd pounds. Th¢ Charitsbl¢ company meets the der￿l￿on of a public tenefit enuty und¢r FRS 102. (b) Fund #eeountin8 The Methlxlist Church Fund is restricted to be appli¢d for puryjoses ¢onnected Wil￿ or for the benefit of, Methodism. The General Fund is available for use at the disttdion of th¢ ThL*es in furtheTance of th¢ g¢nernl objectives of the TTU5t. (c} Income All income is included in the siatement of financkn￿ activili¢5 wh¢n the Thist is cnlitled to the inwme and the amount can be quantified with r¢asonable accuracy. The lollowin8 specific policies are applied io pani¢ular categories of income.. lttvestsnent income repwts iDteresL dividend& and prrwty fund Incl￿1¢ (together with the ass(xiated tsx credit). In addition, the Fund has c47ncluded an for a wtial rebate of mortagemeni ftes which is treated ￿ income. (d) Exptnditure Expenditure is recognised on att accruals basi$ as a li8bility is incurred. Bxpenditur¢ includes VAT. which the TnL￿ is unable to recover, and is rewrted as parf of the expenditure to which it relal¢s.' Charitsble expenditure ¢omprises grants and those costs incurred by the Trt￿ in fimding its activities. It includes both ¢osts that can be auocated dir¥tty to guch acttvities and those ¢ost$ of an indirect nabjre n¢ce&sary to 5UPPOrt them. Grdnts comprise commitmmts made during the year irrwpertive of the dates when payments th¢rewJdcr become due. (ioveman¢e costs include thos¢ ¢osts &ssrtiated with meeting the eonstitutional and statulory rcquircrncnts of th¢ Tn￿t and includ¢ audir f¢¢s and costs linkcd with the slTategic mana8emcni of the T￿￿t and are allocatrd w chari¢8ble expendittwe. (¢) Fixed a55ets Fixed assets (excluding investments) are sratrd at cod less accumulatryl dcpreciation. LkpTeciJtion is calculated to write off the Cost of the &￿ts by equai insthents over three y¢ars. Inv¢siments hcld as fixed ￿Sets are revalued at rnid-m&*et value ￿ the balance sheet date and the gain or lo&$ tsken to the staEement of financial activitics. (D Rttirement benefits The Trust operdtas a defffted contributi¢)n scheme. The amLKuff ¢￿ged ￿ the income and ¢xpeDditure account in rwect of pension ¢03ts and othcr trtirement kn¢fits is the clmtributions pay8ble in the year. 18 rhe Joscphé Rank trust Nots8 forming part ofthe fin4tt¢k*l statemellts for the year eDded 31" De¢eJnber 2022 (eolltinued) (g) Rellt*l- operntillg lease Renthls payable under operating le￿ are chaTged against in¢om¢ on a strtiigbt-line basis over the tern) of the lease. (h) Critical actounting ¢S¢lmat¢s #nd areas of Judgement In the view tsf the Tru%iecs in applying the acc4>unting p)li¢?es adopt*l no judgements were required that have a 5ignthcant effect on th¢ amounts r¢cognised in thc financial ststements nor do any ostin￿t¢S or assumptions made cany a Si￿]fiCant risk of matrial adjusmient in the next financial y¢ar. {1) Fin8nci*l Illstrumtnts {]) C&sh and cash equivalents. Cash and cash equivalents t￿l￿de c&th at battks and in hand and sh(*t-m diwo$its with a maturity date of three months or less. (li) Debtors and Creditors Lkbiors and Creditors re￿1¥able or payabl¢ within one yew of the reporting date are ¢affi¢d 81 their transaclion price. Debtors and creditors that arc receivable or payable in more than one y¢ar and not subject to a market ra* of intsrest are m¢&surd at th¢ pre￿t value of the expected futswe rec¢ipts or pa)ryn¢nts di￿ounted at a market rate of inter&%L (iii) Fixed Asset Envestments Inv¢stm¢nts are a forni of basic financial instrllnent and trt initially recognised at th¢ir transactio value and subsequently remeasured at their fair value at the balance theet d8fe using mid-market value. Th¢ Statement of Financial Activilies includes the oet 88ins and losses arising on revaluation pnd di$posa]s throughout the yeor. 19 Ihe Joseph o Rank rrusi Notes forniing part of the financial $tatenJeDts for the year ended 31° Deeember 2022 (¢ontiDuql) 2022 2021 M¢thodist Totsl Church Fwids Fund (r&stricted GeneYa] Methodist Fund Church Fund rcstrict¢d Total Funds Fund £'o(K) £'o(K) £'O(K) £'ooo 2. Investment income Cash h¢ld within th¢ portfolio 166 41 207 Dividends Investment Fund Income 14 18 23 3. Resourtel expended 2022 Allocation Charitable activities Governance l￿sts 2022 I'otal Costs dircctly all(xated to a¢tivities Grants committed (net) Audit fee Dire Direct 1492 2.492 li Support costs allocated to activities Investment manag¢m¢nt Premises General office expens¢s Trustees. expenses Stsff DireLt 102 102 12 19 Us8ge Time 17 14 159 33 General Fund 2.346 Methodist Church Fund 452 20 the Joseph a Rank trusr Notes forniing part of the financial ststements for the year ended 31" Detembtr 2022 {contlllued) 4. R￿OurceS expended 2021 All￿tion Charitable activities Governance costs 2021 Total Costs directly allocatLxI to activities CJrnnts committed (net) Audit fee Di￿1 Di 2,530 2.530 Support costs allocated to activities Investment management Pretnises General offic¢ ¢xp¢ns¢s Trustees, expenses Staff Costs Direct 12 29 26 Tim¢ Time 140 16 33 156 80 2.452 General Fund 35 80 Methodist chU￿h Fund 2022 Genern] M¢thodist Fund Chuwh Fund r¢stricied 2021 Trtal Funds Genernl Mdhodist Fund Church Fund restricted Total Fund5 £'ooo £'ooo 5. Net incoming (outgoing) re8Ollftes for the year These are stated after charging: Auditors. remunerdtion Payments under opKrating lews 21 Ihe Joscphé Rank trusr Notes forniing pgrt of the financial statemeDts for the yeAr ended 31" December 2022 (¢ODtiDued) 2022 2021 General Fwjd Methodist ChuTch Fund (restric Totsl Funds General Methodist Fund Church Fwid restricted Total Funds 6. Staff eosts number8 Salaries Social Security costs Life, Pem)anent Health & Medical Insurnnce Pension contributions (see noie J6) 132 13 132 13 131 12 131 12 159 156 156 During the year. th¢ Trust had one fiJll-tim¢ ￿ployee and one part-tim¢ employee. One employee's emoluments fell within the band £ICrf).000 to £1 10,(KM) (2021: 1. £100.11(M) to £1 10.000). Both employees are key managwnent P￿rtne1. 7. Trustees, remuneratlon and relgted party ￿n9￿CtIonS None of the Trustees received any rcmunerntion during the year. Travel and out of pocket cxpenses mounting to £2,014 (2021: £1,156) wcrc r¢imburs&4 to 5 Trustecs (2021.. 4). The Reverend DaTren Ilolland is an employee of Bolton Mcth(Klist Mission who received a grant p8ym¢nt of £12,500 during the year. The Very Revw¢nd John Irvine is # Trustee of Ridley Hall who re¢eived a grant payment of £36,000 during the year. Mr Joseph Piers Jennings is a member of the ¢on8regation of Freedom Church Jersey who re￿IVed a granl payment of £60,000 during the year. No other Tn￿t￿8 or other p¢rson rel8ttyJ to the Trust had any personal Inte￿51 in any contract or transA¢tion entered into by the T￿￿ during the year. 8. TaxAtIo As a Charity, the Trust is exempt In)m tsx on incom¢ #nd gtiins fallin8 within port 1 O ITA 2007 or section 256 of the Taxation of Chorgeable Gains 19ty2 10 the extent these are applied to its charitable objects. No tsx charges have arisen in thc Tn Ihe Joscph a Rank trust Notes forming part of the financial statements for the yesr ended 31° December 2022 (CODtiDued) 2022 2021 Gen¢ral Methodist Totsl Fund Churcb Funds Fund restricted G¢n¢rnl Methodist Total Fund Church Funds Fund restricted £'o £'ooo £'ooo 9. Illvestmellts Market value at I" January 2022 Additions 81.124 20.475 101.599 71,580 18,113 89,693 15,938 3.985 19.923 (13.089) {3264) (16,353) 108 27 135 Sales (15.858) (3.963) (19.821) Increase in portfolio c&8h 14.334 3.583 17.917 53 Adjustment to record market ILJ value of investments Market value at 31" Docember 2022 81 101599 Historical cosl at 31° r)ecember 2022 048 03 L6 936 Investments 56,236 14,442 14.232 3.610 70.468 18.052 81.016 108 20.448 101,464 27 135 Cash held within FK)rtfolios Market valu¢ at 31" D¢c¢mlKr 2022 20 475 101599 At 31° D¢¢¢mb¢r 2022 the investment Frfolio which comprises m8rk&able and listed Securities consisted of the following invesknents.. Charities Inyestmcnt Fund Units UK listed shares Overseas shares Tr ixed income Cash holdin8S 56236 14.232 70,468 63.594 14,384 2,323 714 108 16,093 3,598 580 178 27 79,687 17.982 2.903 892 135 101599 14.442 .052 23 the Joseph a Rank rrusi Noteg forniing part of tbe financial statements for the year ended 31° De¢ember 2022 (continued) 2022 2021 Methodist Churth Fund (r¢$tricted £'o(x) General M¢th¢)dist Fund Church Fund restricred Total FuDd# General Fund Total Funds 10. Tanglble flxod a&qets Furniture & equipment Cost At I" January 2022 Additions 21 21 21 21 Di$po$al 3 IW De¢¢mber 2022 21 21 Depreciation At l# January 2022 Ch8rge for the year 20 20 20 20 On disposals At 31. tkcemE*r 2022 21 21 20 20 Net book value At 31° D¢ccmb¢r 21Y22 At 3111 December 2021 I l. Debtors Inyestment in¢om¢ ree*ivable PrepaymenLS 506 128 634 464 582 508 636 Invesknent income Rceivabl¢ is a fu￿￿claI instrum¢nt and is measurryj 8t present valu¢. 12. Credhor9 Amounts fa]lin8 due within one Tthxation Accruals Grants payable 12 12 529 556 24 rhe Joseph o Rank rrust Notes fonning part of the financial statements for the y￿r ended 31" Deeember 2022 (Continued) 2022 2021 General MLxh(Mlist Fund Church Fund ra51ncted Total Funds G¢neral Methodist Fund Churrh Fund restricled Total Funds £'ooo £'O(N) 13. Grant Commitments tiranl Gommitm¢nts at I"January 2022 643 ￿108 805 Granl ¢ommttrn¢nts mad¢ in the year Cancellationslrecoveries Grants paid 2.105 (40) (2.104) 447 2.552 (15) {55) (477) (1581) 2285 (96) (1.975) 398 2.683 (57) (153) (503) (2.478) Movements in the year Grant commitments at 31" December 2022 42 598 JL24 643 ￿108 Payable as follows: Within one year After m(Ire th8n onc year 2,(Kl I 529 2.530 2,063 556 2,619 425 489 598 643 14. C8pitAI comrnitments At 31. Dx¢mber 2022 there were TAO C8Pital eommifments (2021: £nil). 15. Members The Company is limited by guarantee. havin8 no share capital, in a¢wrdanc¢ with Clau￿ 7 of the memorandum of &ssociation. every Tnemi*r. of whom there is no maximum number. is liable to ontribute & sum not ex¢¢¢din8 £1 in the event of the Company bein8 wound up. At 31° D￿ember 2022 the CompAny had 8 M¢M￿lS (2021: 8). At 31° December 2022 and 311t December 2021 all of the members were also Direcior5 of the Company. 16. Retirement Benellts The 'lrust contributes to a dcfined wntributions scheme, for the employK whose emoluments fell within the band £1 00.O(M) to £1 10,IXIO the assets of which are held sep8rnt¢ly from those of the charity in an indep¢ndcntly adminisl¢red fund. Thc pension c4)st charge reprcscnts contributions payable by the Trust 8nd alnounted to £9.922 all of which I￿1 been paid over to the fund before 31¥ December 2022. 25 rhe Josephé RAnk trusi THE JOSEPH RANK TRusf- GRA￿[ COMMrrMENTS MADE IN 2022 CkL4NIYEL ISLAJWS: Freedom Churclu Jersey MHA Guernsey 60.0(N) 25,0 CHANNEL ISLANDS: 85.000 85,000 EAST ANCLIA: Linlon Free churc￿ Catnbridge River churc￿ Ipswich (over 3years) The Faraday Institute. Cambridgc (over 3)YarJ) Stanway F.vangelical Church. Colches Ridley Hall, Cambridg¢ St Andrew's Church. Hingham Cambrid8e & District Youth for Christ (over 3￿ar3) 25,000 45,000 30,O¢X) 36.000 25.000 22.5(M) EAST ANGLIA: 243,51X) 243,5¢J) LONDON: St Matthew's churc￿ Bethnal Green Spinnaker TnL8t (ov¢r 3 years) Rivertyank Trust, Richmond (over s￿￿$) t George & All saints. Tufnell Park lover 3￿￿3) OTchards (over 3 years) Spilalfields Crypt TrusL Shoredilch (over 3 ￿ar￿) 18.1)(x) 22.51Y) 37,500 36.1)00 45.000 45.000 LONtX)N.. 204,LMy) 204,000 MIDLANDS: EnCoMp￿s, Rushden St Elizabeth's c'hurc￿ Coventy Woven Si Leo's, Basford St Paul's ChurclL Forebridge (Q￿r 3y¢ory) Holy Trinity Church, Headington Qu8ny Hope Church, Oswesty St Andrew's churc￿ D¢aft Court Si Mary's Church, Bloxl]am Si Mary's Church. Wheatley Church of the Matyr5, Leicester (over 3yearJ) Holy Trinity Church. Ha71emere (over 3yeovs) Raund$ Methodist Church 50.(KK) 15,000 30,000 25,000 25,000 40.000 25.000 20.000 25.500 30,IMK) 30.0 MIDLANDS: 340.5 340.500 NORI'HERN IRELAND: ast Belfast Mi55ion (over 3yeors) Christ churc￿ Kilkeel FAenderry Memoria] Methcdist Churc14 Portadown MCI WDR, Belfa Bdllinamallard Methodist Church Ballymena Methodist Church 30,0 25.iy 30,0(N) 100.o(x) 75,(M)O 20.000 NORTHERN IPELAND: 280,0(KI 280.0 26 the Joscph & Rank trust THE JOSEPH RANKTRusf- GRANf COMMTfMENIS MADE IN 2022 NORTH EA￿. City churc￿ New¢astle (over 3 years) 45,0(J) NORTH WEST: 45.000 45.000 NORTH WEST: Bolton Christian Community Cohesion (otryr 3yvaFJ) Christ Church Heeley. ShetTield (over 3 years) St Helens Christian Life Centre (over 3years) The Church of the Holy and Undivided Trinity. Fjlale Killinghall Metlv)dist Church Dalton Community Church 'rhe Light Church. Bradford The Alliance. Manchesi¢r (over 3J*ars) Active Hope, warring￿tt (over 3 yeav.$) The Grove Methodist Church, Rerford Lifeline HatTogate (over 3 years) St Wilfrid's Chu￿h, Bradford St Petcr's ChU￿h, Bury (over 3year$) 30.0 18.IM)O 30.000 5,000 25,000 40,000 20.000 30.000 37,5 33,000 30.0(M) 30,IXK) 30.1)iKI NORTH WEST: 358,5(N) 358,51)0 SCOTLAND: Josiah Veniure UK SCtAI.' 01&8gow (Jdny & Pitmedd¢n Church. Aberdeen (over 3years) Cairn Moverneni Edinburgh (over 3 )Yars) Dennistoun B8Ptisi ChurclL Gl&sgthv Da]meny Kirk. F.dinburgh (over 3years) Portree & Bracadale frc¢ Church of&otland St Andrew's Church Moffat 25.C 25.000 28.500 30,IXJ) 25,IX)O 24.(KM) 50,(My) 35,CrfJ) SCOTLAND: 242,5(KJ 242,500 SOUTH EAST: St Faith's Church. Maidstone Aid to the Chur¢h in Need UK Cls'iers, Southamp￿n (over 3 years) Lewes Quaker Meeting St Paul's Church. Bourn¢mouth (over 3 ￿ar3) St Johns Church, Folkeslone (over 3 years) Kidz Klub, Brighton & Hove (over 3ywx) Option5 Chichestcr (over 3 years) St Jude's Church, South5ea (over 3 Irars) 30.000 25,000 45,0(K) 25.000 30.000 19500 35,000 30,000 30,IK SOUTH EAST: 269.5( 269.5 SOUTH WEST: 13ridgwater Baptist Chur¢h St Laurence Church, E&st Harptree Saliash Bapti51 Church (over 3 yeors) St Austell Parish Church St Bonifa¢e Church. Exeter St Peter & St Paul Churc14 Taunlon The Christian Adventure Centse, Viney Hill 20,000 30,000 24,000 35,￿0 45.000 30,0 30,￿K) 27 £he]osepho Rank trust THE JOSEPH RANK TRusf- GRANT COTrIMrrMENfs MADE IN 2022 Plymouth Mth{￿lS1 Centrnl Hall (over 5￿ar$) St James churc￿ Lecklwnpstead The Pilsdon Community. Bridwrt SALT South WesL Plymouth (over 3Jrars) The Branch TrusL Chipping Norton Encounter Christtanity. Bristol (over 3￿¢￿s) 39.000 25.000 30.000 30,000 50,000 22,51X) SOUTH WEST: 410.5(KI 410.5IN) WALES: Calvary Baptist Church. Brynmawr Victory Churc1¥ CwmbEan {ovtr 3￿or$) 35.000 37.500 WALES: 72.500 72,500 28