Company registration number: 05101167
Charity registration number.. 1104551
The Melanesian Mission
{A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2024
WESTCOTTS
CHAItTERED ACeOUNYA14YS
& BUSINESS ADVISEPS

The Melanesian Mission
Contents
Reference and Administrative Details
Trustees, Report
2to7
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
10
Notes to the Financial Statements
11to24

The Melanesian Mission
Reference and Administrative Details
Trustees".
Mr C Butler (appointed 16 September 2023)
Canon J Brooke
Revd M 8 Cox {resigned 16 September 2023)
Revd C Duce
Ven Dr M R Gilbertson - Vice Chair
Mrs D Jordan (resigned 12 October 2023)
Revd K Pwaisiho
Rt Revd M J Rylands - Chair
Mr S Scoffield
Revd J J Wise
Secretary
Katie Drew
Charlty Reglstratlon Number
1104551
Company Reglstratlon Number 05101167
The charity is incorporated in England and Wales.
5 Trumps Orchard
Cullompton
EX15 1TW
Reglstered Office
Independent Examiner
Westcotts {SW) LLP
47 Boutport Street
8arnstaple
Devon
EX31 1SQ
Page 1

The Melanesian Mission
Trustees. Report
The trustees, who are directors for the purposes of company law, present the annual report together
with the financial statements of the charitable company for the year ended 31 March 2024.
Recruitment & Appointment of Trustees
As permitted in the Constitution, ￿0 of the Trustee Directors, Revd J Wise and Ven Dr M R
Gilbertson (who replaced Mrs D Jordan), are appointed as Trustees by the Archbishop of Melanesia.
The Revd Richard Carter, as Commissary to the Archbishop of Melanesia, normally attend5 Trustee
meetings, in a non-voting capacity.
Purposes and Aims
The constitutional objective of the Mission is..
'To advance the Christian religion by furthenng the charitable activities of the Anglican Church of the
Province of Melanesia in the Province of Melanesia and the United Kingdom..
MS$slon Statement
MMUK is a Christian mission agency working in partnership with the Anglican Church of Melanesia
(ACOMI through prayer, companionship and giving. The strategic objectives are therefore..
1. Partnershlp
MMUK seeks to develop living partnerships be￿een ACOM and religious communities in
Melanesia and churches in the UK, for example through I￿o-waY visits, mission and theological
training.
2. Financlal Support
MMUK seeks to provide financial support for ACOM and its chosen projects.
3. Advocacy
MMUK seeks to work in solidarity with ACOM and to speak out on issues that affect Melanesia
and its people.
4. Educatlon
MMUK seeks to facilitate connections between schools and colleges in the UK and Melanesia
and to support ACOM in its educational work.
5. Prayer
MMUK seeks to resource and encourage prayer with and for the church in Melanesia and for
the communities it serves. MMUK also seeks to learn from and be refreshed by the riches of
the spiritual life in the church in Melanesia.
In all of this, MMUK seeks to grow creative and constructive friendships in Christ,
Public benefit
The Trustees have considered the Charity Commission's guidance on public benefit and the specific
guidance on charities for the advancement of religion. Having considered the activities which the
Mission undertakes which are detailed in our achievements and performance, and our planning for the
future, the Trustees are of the opinion that the Mission exists and conforms to the requirements for the
public benefit.
The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act
2011 to have due regard te the public benefit guidance published by the Charity Commission for
England and Wales.
Page 2

The Melanesian Mission
Trustees. Report
Achievements and perfomiance
Trustees met regularly throughout the year, online in June and in person after the Annual General
Meeting in September, in London in November and for days in January at Foxhill, Cheshire for the
residential. At the residential most of the programme was devoted to sessions seeking to develop a
more strategic way of orderirsg our work as a charity, facilitated by Charles Hobson. a consultant who
has worked with a wide range of Christian organizations helping them in managing strategic change.
The trustees identified important are2s of work including.. visits in both directions to build relationships.,
maintaining the real value of the annual grant to ACOM; increasing publicity and awareness of
MMUK'S work,. developing educational resources relating to climate change,. fostenng partnerships
be￿een schools., and encouraging prayer for, and learning from, the Melanesian Church. Work to
co-ordinate and progress these strategic areas is being taken forward by the trustees.
The Annual General Meeting and Festival Day took place at Chester Cathedral on Saturday 16th
September with over 30 people attending, including representatives from Society of St Francis, the
Community of the Sisters of the Church and the Sisters of the Jesus Way. At the meeting, the
Accounts for 202212023, the appointment of an Independent Examiner for 202312024 and the Minutes
of the last AGM, were received and approved by members. Revd Martin Cox stepped down as
Trustee, after serving for 14 years. For the election of Trustees, members agreed to the following, as
recommended by Trustees the re-election of Ven Dr Mike Gilbertson, as Trustee and Vice Chair for
three years, and Canon Jane Brooke as Trustee for one year. Mr Colin Butler was also elected as
Trustee for three years. with special ￿Sponsibl11ty for Education and School Partnerships. The
remaining Trustee vacancy remained unfilled, as the charity continued to search for a person
with Fundraising skills.
At the Eucharist t￿0 new Associates were admitted lo the Community of the Sisters of Melanesia. At
the Festival, presentations were given by Society of St Francis on their environment advocacy work
with the UN, and by the charity on its Care for Creation work. There was also recognition for the
35th anniversary of the Diocese of Chester's link with the Province of Melanesia.
In October MMUK Trustee Mrs Daphne Jordan, one of the Archbishop's appointed Trustees,
resigned. The Archbishop of Melanesia appointed Ven Dr Mike Gilbertson to become his second
appointed Trustee.
Throughout the financial year the charity continued to support the mission of ACOM with a grant of
£39,000. Additionally, the accounts reflect assistance provided for Acom-requested projects and
missions in the region. Listed here some of the support provided,
One of the earliest cyclones of the season Tropical Cyclone Lola, hit Temotu and Vanuatu at
the end of October 2023, and in response MMUK sent £2,305 in emergency funds.
The Community of the Sisters of Melanesia ICSMI consecrated their new chapel at Veranasso
at Pentecost in May 2023. Although the building was completed, some work remained to be
done, including a retaining wall and fixtures and fittings, and MMUK continued to fundraise for
this project in this financial year sending £1,510. In total MMUK has collected from CSM
Associates, other UK donors and parishes £12,523 in the past three years for this project.
MMUK continued to collect funds to provide lunches for the Community of the Sisters of
Melanesia, sending this year £2,850
St Patncks College in Verana'aso received a donation of £1,856.
Page 3

The Melanesian Mission
Trustees, Report
MMUK continued to support the Environment Observatories project review and expansion in
Solomons, with a salary contribution of £1,000 for the project manager and sending sets of
equipment. In September 2023, six pilgrims walked sixty miles in six days raising awareness of
the climate crisis and its impacts in Melanesia with over 100 people encountered at churches,
reception at Wells Palace for church wardens, and along the walking route. £2,736 was raised
for the Environment Observatories.
A third shipment of sewing machines and materials was collected and sent to Melanesia for the
Mothers, Union sewing workshops
To assist with the completion of the Retreat House at the Community of the Sisters of the
Church, HQ, TNK, £6,930 was sent in November 2023.
Supporters and donors have been regularfy briefed on the charity's missions and with news and
prayer requests from Melanesia. The new website was launched in February 2024 and regularly
updated with blogs. events and prayer requests. The final magazine went out in autumn 2023 and
email newsletters distributed in May, July, September, November 2023 and in 2024 in January. Over
the last year the Executive Officer and the Care for Creation Officer have run online supporter events
and training, and given talks in person and online, to parishes, MU meetings, universities and schools
in Chester, Ely, Exeter, London Dioceses, reaching over 1,000 individuals. MMUK has also
contributed to other online events with the Associates to the Melanesian Sisters.
The charity posted recorded reflections for Advent 2023 from the Community of the Sisters of the
Church and for Lent 2024 from the Society of St Francis.
The charity continued to ne￿Ork with other mission agencies working in Melanesia and attended the
ORAC (Oceania Regional Anglican Alliance Committee) conferences and presented at FONO (Pacific
Anglican Primates) in Solomons in May 2023 and in Cairns, Australia in February 2024. After
attending these conferences, the Executive Officer rnet with ACOM clergy, staff, schools, the religious
orders and the Mothers, Union in Solomon Islands and Vanuatu. The Care for Creation Officer also
attended and presented at the ORAC Tneeting in Solomons, reviewed the Environment Observatory
sites, gave school talks and ran training programmes for ACOM staff and the religious orders. The
Archbishop's appointed Trustee, Revd Jacky Wise attended Acom's General Synod and ran clergy
training sessions in Solomons, in November 2023.
The first placement in Solomons arranged by MMUK since COVID, took place in May 2023, and
during the year the charity worked with six others preparing to make trips to the region in the next
financial year.
Following the appointment of a new Trustee responsible for school partnerships and education, the
charity conducted a review of existing partnerships. As part of thi5 effort, the charity created a termly
school newsletter to support existing partnerships and foster fresh initiatives. The renewed emphasis
on connections be￿een Chester schools and Melanesian schools indicates the possibility of closer
ties and potential teacher exchanges in the upcoming financial year.
Flnanclal review
The trustees report..
deficit of £12,837 12023 8 deficit of £9191 on Unrestricted fund5 before revaluations of
investments.
deficit of £775 (2023 surplus of £3,209) on restricted funds. The deficit is due to restricted
funds received in previous years being spent in this financial year.
Page 4

The Melanesian Mission
Trustees. Report
Principal funding sources
Voluntary income
During the year, the charity received £44,006 in voluntary donations (2023- £57,854).
Investment income
The accounts show an increase in investment income this year at £113,931 (2023 £113,239). The
Trustees are pleased that investments continue to provide a consistent level of income for the charity.
Reserves Policy and Golng Concern
The Trustees hold restricted reserves of £10,037 and endowment reserve5 of £44,512
The following designated reserves are held at the yearond..
Lambeth the Trustees are building up a designated fund towards the costs of supporting ACOM
attendance at the next Lambeth Conference. Al 31st March 2024, this fund held £5,083.
Investment Reserve
Unrestricted Investments are held to provide income to fund the activities of the charity.
Invèstmènt income forms our principal source of funding. The Trustees have designated a
reserve equal to the valuation of its unrestricted investments which cannot be used to fund
expenditure without being sold of £3,287,960.
The remaining reserves of £52,306 are held in the Unrestricted Income Fund.
The Trustees have reviewed the circumstances of the Charity and consider that adequate resources
continue to be available to fund its activities for the foreseeable future. The Trustees are of the view
that the charity is a going concern.
Investment pollcy and objectlves
The Trustees adopted a revised investment policy at their meeting on 30 November 2015 which is
reviewed annually.
The aim is to balance the need of current and future beneficiaries. The capital remains invested to
provide for future beneficiaries and the income is spent on current charitable activity.
The Charity's investment funds are invested to produce the best financial return within an
acceptable level of risk.
The investment objective is to balance income and capital returns. The assets should be
managed to at least maintain the real capital value of the funds, whilst generating a sustainable
level of inve5trnent income to support the current charitable activities.
The current income target is set at £100,000 per annum (a starting yleld of 50/0) and as such the
overall investment objective is a retum of inflation plus 50/9 pa, which will maintain the real
valuation of the assets. whilst funding annual increase in expenditure in the region of 50kn per
annum.
Management of Rlsk
The Trustees are of the opinion that the charity's objectives and operation are inherently of low risk
and this is minimised by its procedures in all areas.
Page 5

The Melanesian Mission
Trustees. Report
The Trustees have identified that the main risks to the charity are..
The current cost of living crisis which may reduce our voluntary income.
Static investment income which is not keeping with our expenditure
Loss of Executive Officer
The Trustees manage the risk to cashflows by preparing and reviewing budgets on a regular basis
and ensuring sufficient cash deposits are held to meet current spending commitments.
Plans for future periods
Develop the strategic objectives of the charity into an achievable work packages for staff and
Trustees
Review of our investment strategy with the assistance of independent financial advisors.
Ensure a smooth handover from the Care for Creation Officer to the Environment
ObseNatory Project Manager, when the Cur￿nt contract finishes
Develop ideas for a future PhD researcher at Southampton University to investigate flooding
preparedness in Melanesia
Increase supporter numbers in the UK, including volunteers to assist with areas of work,
including fundraising, social media, giving talks and raising awareness for the charity
Continue to update and resource the website, to include a prayer board, school resources
and advice for placements
Review the communications strategy, in moving away from printed materials to a solely online
presence
Recruit Trustees to fill vacancies and skills shortage, including a fundraising Trustee
Support and develop school partnerships, encourage teacher exchanges
Develop meaningful placements in Melanesia for UK clergy and lay people for the mutual
benefit of the visitor and the hosting church, school or religious order
Fundraise for a Mothers, Union project in Melanesia
Organise a pilgrimage to pray for and raise funds for the Ministry to Women mission in
Melanesia
Deposit the charity's archive at suitable, accessible locations
Statement of trustees, responslbllltles
The trustees (who are also the directors of The Melanesian Mission for the purposes of company law)
are responsible for preparing the trustees, report £nd the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland" The report and accounts have been prepared in accordance with the provisions
in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare fin8ncial statements for each financial year. Under
company law the trustees must not approve the financial statements unless they are satisfied that
they give a true and tsir view of the state of affairs of the charitable company and of the incoming
resources and application of resources, including its income and expenditure, of the charitsble
company for that period. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently.,
observe the methods and principles In the Charities SORP.,
Page 6

## **The Melanesian Mission** 

## **Trustees' Report** 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them 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 for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 

## **Small companies provision statement** 

This report has been prepared in accordance with the small companies regime under the Companies Act 2006. 

The annual report was approved by the trustees of the charity on 21 September 2024 and signed on its behalf by: 

Rt Revd M J Rylands Chair of Trustees 

Page 7 



The Melanesian Mission
Independent Examiner's Report to the trustees of The Melanesian Mission ('the
Company,)
I report to the charity trustees on my examination of the accounts of the Company for the year ended
31 March 2024.
Responsibllitles and basls of report
As the charity's trustees of the Company land also its directors for the purposes of company law) you
are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 2006 {'the 2006 Act'l.
Having satisfied myself that the accounts of the Company are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination
of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act,).
In carrying out my examination I have followed the Directions given by the Charity Commission under
section 145{5llb) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection
with the examination giving me cause to believe:
1. accounting records were not kept in respect of The Melanesian Mission as required by Section
386 of the 2006 Act", or
2, the accounts do not accord with those records,. or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a 'true and fair view, which is not a matter
considered as part of an independent examination., or
4. the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities lapplicable to
charities preparing their accounts in accordance with the Financial Reporting Standard
8pplicable in the UK and Republic of Ireland {FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in thi5 report in grder to enable a proper understanding of the
accounts to be reached.
Catherine Williams FCA DChA
Westcotts ISW) LLP
47 Boutport Street
Barnstaple
Devon
EX31 1SQ
Date... 'kn-.. . ..S£.ptA2(NatE ￿ 2C>
Page 8

The Melaneslan Mi53ion
Statement of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expendlture Account and Ststement of Totsl
Recognised Gains and L03803)
Unr•$trlcted Restrlcted Endowment
funds
funds
funds
Total
2024
Total
2023
Not•
Income and Endowments from:
Donations and legacies
Investrnent income
24,885
112,300
19,121
44,006
113,931
57.854
113,239
1,631
Total incorne
137,185
19,121
1.631
157,937
171,093
Expendftur• on:
Charitable activities
150,022
19,896
169,918
173,590
Total expenditure
Net
incomingl(outgoing}
resources before gains
{105sesl on Investment
asset
Gainsl(losses) on listed
investments
150,022
19,896
169 918
173,590
12,837
775
11,981
2,497
107,596
1,536
109.132
208,133
Net
(expenditure)lincome
Transfers befvieen
funds
(120,433)
{775)
95
(121,113)
(210,630)
4,792
4,792
Net movement in funds
(125.225)
4,017
95
{121,113)
(210,630)
Reconclllatlon of fund•
Total funds brought
for4vard
3,471,574
3522011
3 732 641
Total funds carried
fonHard
18
3,346,349
10,037
44,512
3,400,898
3 522,011
All of the charity's activities derive trom continuing operations during the above I￿0 periods.
The funds breakdown for 2023 is shown in note 16.
The notes on pages 11 to 24 fom an integral part of these financial statements,
Page 9

## **The Melanesian Mission** 

## **(Registration number: 05101167) Balance Sheet as at 31 March 2024** 

|**(Registration number: 05101167)**<br>**Balance Sheet as at 31 March 2024**||||
|---|---|---|---|
|||**2024**|**2023**|
||**Note**|£|£|
|**Fixed assets**||||
|Investments|12|3,329,797|3,438,929|
|**Current assets**||||
|Debtors|13|7,437|7,815|
|Cash at bank and in hand|14|67,045|79,088|
|||74,482|86,903|
|**Creditors: Amounts falling due within one year**|15|{3,381}|(3,821}|
|**Net current assets**||71,101|83,082|
|**Net assets**||3,400,898|3,522,011|
|**Funds of the charity:**||||
|**Endowment funds**||44,512|44,417|
|**Restricted income funds**||||
|Restricted funds||10,037|6,020|
|**Unrestricted income funds**||||
|Unrestricted funds||3,346,349|3,471,574|
|**Total funds**|16|3,400,898|3,522,011|



For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

## Directors' responsibilities: 

- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and 

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. 

The financial statements on pages 9 to 24 were approved by the trustees, and authorised for issue on 21 September 2024 and signed on their behalf by: 

Rt Revd **M** J Rylands Chair of Trustees 

The notes on pages 11 to 24 form an integral part of these financial statements. 

Page 10 



The Melanesian Mission
Notes to the Financlal Ststements for the Year Ended 31 March 2024
I Charlty •talu8
The charity is limited by guarantee. incorporated in England and Wales, and consequently does not
have share capital. Each of the members is liable to contnbute an amount not exceeding £1 towards
the assets of the charity in the event of liquidation.
The address of its registered office is..
5 Trumps Orchard
Cullompton
EX15 1TW
These financial statements were authorised for issue by the trustees on 21 September 2024.
2 Accountlng pollclo•
Summary of glgnlflcant accountlng pollcl88 and koy accountlng o•tlmatas
The principal accounting policies applied in the preparation of these finanrjal st8tements are set out
below. These policies have been consistently applied to all the years presented, unless otherwise
stated.
Statement of compllanc•
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities. SL3tement of Recommended Practice (applicable to charits'es preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102)) {issued in October 2019) - (Charitjes SORP (FRS 102)), the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006.
Basls of pr•paratlon
The Melanesian Mission meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
levant accounting policy notes. The financial statements are prepared in sterling, which Is the
functional currency of the entity.
Golng concern
The trustees consider that there are no materlal uncertainties about the charity's ablllty to contlnue as
a 90ing concern nor any significant areas of uncertainty that affect the carrying value of assets held by
the charity.
Exemption from preparlng a ca8h flow Statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not
included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income
will be received and the arnount of the income receivable can be measured ￿lIablY.
Page 11

The Melanesian Mission
Notes to the Financial Statements for the Year Ended 31 March 2024
Donatlons and legacles
Donations are recognised when the chanty has been notified in wnting of both the amount and
settbement date. In the event that a donation is subject to condibons that require a level of
performance by the charity before the charity is entitled to the funds, the income is deferred and not
recognised until either those condits'ons are fully met, or the fulfilment of those conditions is wholty
wilhin the control of the charity and it is probable that these conditions will be fuffilled in the repo￿.ng
period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the
administratorlexecutor for the estate has communicated in writing both the amount and settlement
date. In the event that the gift is in the fom of an asset other than cash or a financial asset traded on
a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable
with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Investment Income
Investment income 18 Included when receivable.
Expendlture
All expenditure is recogni5ed once there is a leg81 or constructive obligation to that expenditure. rt Is
probable settlement Is required and the amount can be measured reliably. All costs are allocated to
the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot
be directly attributed to particular headings they have been allocated on a basis consistent with the
use of resources, with central staff costs allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Charltabl• •¢tlvltle8
Charitable expenditure comprises th08e costs incurred by the charity in the delivery of its activities
and services for its benef ciaries. It includes both costs that can be allocated directly to such activities
and those costs of an indirect nature necessary to support them.
Grnnt provlslons
Provisions for gr8ntS are made when the intention to make a grant has been communicated to the
recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Support Costs
Support costs include central functions and have been allocated to activity cost categories on a basis
consistent with the use of resources, lor example, allocating property Costs by Iloor areas, or per
capita, slaff costs by the time spent and other costs by their usage.
Taxathon
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potents'ally exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sectson
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exdusively to charitable purposes.
Page 12

The Melanesian Mission
Notes to the Financial Statements for the Year Ended 31 March 2024
Flxed asset Investments
Fixed asset investments, other than programme related investments, are included at market value at
the balance sheet date. Realised gains and losses on investments are calculated as the difference
be￿een sales proceeds and their market value at the start of the year, or their Subsequent cost, and
are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are
credited or charged to the Statement of Financial Activities based on the market value at the year end.
Cash and cash equlvalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly
liquid investments that are readily convertible to a known amount of cash and are subject to an
insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in
furtherance of the obJectives of the charity.
Designated funds are unrestricted funds earmarked by the trustees for a particular future project or
commitment.
Restricted income funds are those donated for use in a particular area or for specific purposes, the
use of which is restricted to that area or purpose.
Expenclable endowment funds are invested to produce income which is restricted to the purposes
declared by the donor.
Financial instruments
Classlflcatlon
Financial assets and financial liabilities are recognised when the charity becomes a paty to the
contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the charity after deducting all of its liabilities.
Page 13

The Melanesian Mission
Notes to the Financial Statements for the Year Ended 31 March 2024
Recognltlon and measurem•nt
All financial assets and liabilities are initially measured at transaction price (including transaction
costs), except for those financial assets classified as at fair value through profit or loss, which are
initially measured at fair value (which is nomially the transath'on price excluding transaction costs),
unless the arrangement constitutes a financing transaction. It an arrangement constitutes a financing
transacts'on, the financial asset or financial liability is measured at the present value of the future
payrnent5 discounted at a market rate of interest for a similar debt instrurnenL
Financial assets and liabilits'es are onty offset in the statement of financial posits'on when, and only
when there exists a legally enforceable right to set off the recognised amounts and the charity intends
either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows
from the financial asset expire or are settled, bl the charity transfers to another party substantially all
of the risks and rewards ol ownership of the financial asset, or cl the charity. desplte having retained
some, but not all, significant risks and rewards of ownership, has transferred control of the asset to
another paty,
Financial liabilities are derecognised only when the obligation specffied in the contract is discharged,
cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares
(where shares are publicly traded or their fair value is reliably measurable) are measured at fair value
through profit or loss. Where fair value cannot be measured reliably. investments are measured at
cost less impairment,
Investments in subsidiaries and associates are measured at cost less impaimient. For Investments in
subsidiaries acquired for consideration including the issue of shares qualifying for merger relief. cost
is measured by reference to the norninal value of the shares issued plus falr value of other
consideration. Any premium is ignofed.
Page 14

The Melanesian Mission
Notes to the Financial Ststements for the Year Ended 31 March 2024
3 Income from donations and legacies
UnrestrScted
funds
General
Restricted
funds
Total
2024
DonatSons and legaclos;
Appeals and donations
Legacies
Gift Aid
15,732
7,500
1,653
17,936
33,668
7,500
2,838
1,185
24,885
19,121
44,006
Unrestrlcted
funds
Ganaral
Restrlcted
funds
Total
2023
Donatlons and legacles.
Appeals and donations
Gift Aid
22,309
1,544
23,853
31,709
2,292
54,018
3,836
57,854
34,001
4 Investment Income
Unrestrlcted
funds
General
Endowment
funds
Expendable
Total
2024
Bank interest receivable
Other income from fixed asset investments
1,831
110,469
1,831
112,100
113,931
1,631
1,631
112,300
Unrestricted
funds
General
Endowment
funds
Expendable
Total
2023
Bank interest receivable
Other income from fixed asset investments
1,050
110,558
1,050
112,189
113,239
1,631
111,608
1,631
Page 15

The Melanesian Mission
Notes to the Financial Statements for the Year Ended 31 March 2024
S Expenditure on charitable activities
Unrestricted
funds
General
Restricted
funds
Total
2024
Note
Activities undertaken directly
Grant funding of activities
Allocated support costs
26,157
47,521
76,344
4,757
15,139
30,914
62,660
76,344
150,022
19,896
169,918
Unrestricted
funds
General
Restricted
funds
Total
2023
Note
Activities undertaken directly
Grant funding of activities
Allocated support costs
6,026
69,527
60,827
136,380
6,211
30,992
12,237
100,519
60,834
37,210
173,590
6 Analy818 of 8UPPOrt Costs
Support costs allocatod to charltable actlvltles
Total
2024
Total
2023
Staff costs
Office expenses
Travel and subsistence
Independent Examiners fees
Trustee expenses
Governance expenses
Insurance
MMUK Pilgrimage Expenditure
57,485
6,937
3,475
2,518
2,667
502
980
1,780
46,073
6,530
2,951
2,450
1,444
463
923
76,344
60,834
Page 16

The Melanesian Mission
Notes to the Financial Statements for the Year Ended 31 March 2024
7 Grant-making
Analys15 of grants
Grants to Instltutions
2024
2023
Grants to institutions
Grants to institutions
62,660
100,519
The Trustees make an annual grant of £39,000 to the Anglican Church of Melanesia (ACOM),
Applications for further grants are considered by the Trustees as appropriate,
8 Net Incomlngloutgoing resources
Net outgoing resources for the year include..
2024
2023
Gainsl(losses) on listed investments
109,132
208,133
9 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity
during the year.
During the year, 8 Trustees We￿ reimbursed travel expenses totalling £2,667 {2023.' 4 Trustees..
£463).
Page17

The Melanesian Mission
Notes to the Financial Statements for the Year Ended 31 March 2024
10 Staff costs
The aggregate payroll costs were as follows..
2024
2023
Staff costs durlng the year were:
Wages and salaries
Social security costs
Pension costs
55,986
216
3,561
59,763
42,818
3,255
46,073
The monthly average number of persons (including senior management I leadership team) employed
by the charity during the year was as follows..
2024
No
2023
No
Charitable activities
No employee received emoluments of more than £60,000 during the year.
11 Taxatlon
The charity is a registered charity and is therefore exempt from taxation.
12 Investment8
Llsted
Investments
Cost or Valuatlon
At 1 April 2023
Revaluation
3,438,929
109,132
At 31 March 2024
3,329,797
Net book value
At 31 March 2024
3,329,797
At 31 March 2023
3,438,929
All investments shown above are held at valuation.
The historical cost of the investments is £1,781,67812023'. £1,781,678)
Page 18

The Melanesian Mission
Notes to the Financial Statements for the Year Ended 31 March 2024
13 Debtors
2024
2023
Other debtors
7,437
7,815
14 Cash and cash equlvalents
2024
2023
Cash at bank
67,045
79,088
15 Creditors: amounts falllng duo withln one yoar
2024
2023
Other taxation and social security
Accruals
881
2,500
634
3,187
3,821
3,381
Page 19

The Melanesian Mission
Notes to the Financial Ststements for the Year Ended 31 March 2024
16 Fund$
Balance
at1
April Incomlng ReBource8
2023 resources expended
Other
recognlsed
gainsl
(losses
Balance
at31
March
2024
Transfers
Unrestricted funds
General funds
Investment reserve
Lambeth
Teacher exchanges
for Chester schools
72,935
3,395,556
3,083
137.185 (150,022)
{7,792)
52,306
1107,5961 3,287,960
5,083
2,000
1,000
150,022
137,185 3,346,349
4,792
107,596
1,000
3,471,574
Restrlcted funds
COVID Emergency -
Solomons
CSC Retreat House
Extension
CSM - General
CSM - Lunch project
CSM - Chape
Emergency Appeal -
Cyclone Harold
Environment
Observatories -
Solomons
Environment
Observatories -
Vanuatu
Exeter Dicoese links
Human Rights BHC
Melanesian
Brotherhood
Mothers, Union
Other restricted
funds
Society of St Francis
St Stephens Pamua
Girls, Dorm
St Patrick's, Vanuatu
Dux Award
St 8arnabas
Cathedral
113
(113>
6,168
916
2,875
3,313
16,930)
(998}
12,850)
(1,510)
762
339
2,064
498
257
2,089
2,301
50
(501
588
2,888
14,6551
3,984
2,805
305
807
19
(3051
750
1,557
19
38
21
50
70
88
57
(341
155
423
125
1245)
1150)
35
273
175
175
1,810
(1,856)
{200)
46
425
225
156
156
Page 20

The Melanesian Mission
Notes to the Financial Statements for the Year Ended 31 March 2024
Balance
at1
April Incomlng Resource$
2023 ra6ourcès expended
Other
recognised
gainsl
(10888$)
Balance
at31
March
2024
Transfers
6,020
19,121
19,896
4,792
10,037
Endowment funds
Expendable
Patteson Moss Fund
Amy Rawson
Elenor Rawson
Cyril Rawson
4,227
13,396
13,396
13,398
104
509
509
509
1115)
{474)
(474)
473
4,216
13,431
13,431
13,434
44,512
3,400,898
44,417
1,631
1,536
Total funds
3,522,011
157,937
169,918
109,132
Balanco
at1
Aprll Incomlng Resources
2022 resources expended Transfern
Other
recognlsed
galnsl
(losses)
Balance
at31
March
2023
Unrestricted funds
General funds
Investment reserve
Lambeth
56,937
3,600,850
20,000
134,991
(116,993)
{2,000)
72,935
(205,294) 3,395,556
3,083
19,387
2,000
3,677,787
135,461
136,380
205,294
3,471,574
Restrlcted funds
Community of the
Sisters of the Church
General
COVID Emergency -
Solomons
CSC- TNK Kindy
CSM - General
CSM - Lunch project
CSM - Chapel
Emergency Appeal -
Cyclone Harold
Environment
Observatorie5 -
Solomons
Environment
Observatories -
Vanuatu
Exeter Dicoese links
3,500
(3,5121
12
1,050
12
268
1,939
2,782
3,567
{4,504)
113
112)
971
2,825
1,593
1900)
12,700)
(3,877)
339
2,064
498
50
50
1,595
3,298
(4,305)
588
305
807
305
807
Page 21

The Melanesian Mission
Notes to the Financial Statements for the Year Ended 31 March 2024
Balance
at1
April Incomlng Resources
2022 resources expanded Transfers
Other
recognised
gainsl
110s88s)
Balance
at31
March
2023
Human Rights BHC
Melanesian
Brotherhood
Mothers, Union
Other restricted funds
Society of St Francis
St Stephens Pamua -
Girls, Dorm
St Patrick's, Vanuatu
Oux Award
19
38
21
30
63
2,812
{2,812)
38
21
155
423
125
625
1265)
250
2,732
11,328
(2,8071
111,328)
200
175
425
34.001
37,210
6,020
Endowment funds
Expendable
Patteson Moss Fund
Amy Rawson
Elenor Rawson
Cyril Rawson
4,262
13,787
13,787
13,789
104
509
509
509
(139)
1900)
(9001
900
4,227
13,396
13,396
13,398
45,625
1,631
2,839
44,417
Total funds
3,732,641
171,093
173,590
208,133
3,522,011
Unrestricted funds
Investment ReseNe - Unrestricted Investments are held to provide income to fund the activities of the
charity. Investment income forms the principal funding source. The Trustees have designated a
reserve equal to the valuation of its investments which cannot be used to fund expenditure without
being sold.
The investment reserve and the endowment funds include unrealised gains on investment5.
Lambeth The are building up a fund towards the cost of supporting Acom attendance at the next
Lambeth Conference.
Teacher exchanges for Chester Schools The Trustees have designated £1,000 towards costs of
exchanges between schools Melanesian and Chester
Page 22

The Melanesian Mission
Notes to the Financial Statements for the Year Ended 31 March 2024
Restricted funds
John Coleridge Patterson University IJCPU)- Funds received for the establishment and support of the
John Coleridge Patterson University with in the Anglican Church of Melanesia.
CSC Retreat House Extension- Funds received towards costs of Retreat House Extension.
Melanesian Brotherhood- Monies received to assist in the funding of the Melanesian Brotherhood
CSM Lunch Project- Monies received through donations for the purpose of providing lunches for a
community of approximately 30 people.
CSM General Funds- Relating to other donations received for other specific projects of the
Community of the Sisters of Melanesia
CSM Chapel- Funds received for the building of a new chapel for the Community of the Sisters of
Melanesia.
CSC TNK Kindy- funds received to assist the funding of the Community of the Sisters of the Church
Kindy School at TNK in the Solomon Islands
Community of the Sisters of the Church General- Relating to other donations received for other
specific projects of the Community of the Sisters of th2 Church.
Emergency Appeal Cyclone Harold- Funds received to support cyclone relief following storms.
Society of St Francis- Relating to other donations received for other specific projects of the Society of
St Francis.
Exeter Diocese links-Exeter Diocese donates £500 per year to fund the dioceses link activities with
Melanesia, including events and visits. Supporters of MMUK also donate to this fund
Human Rights BHC- Funds received from the British High Commission for the purposes of providing
resources for the education of human rights in Melanesia.
Mothers, Union- Relating to other donations received for other specific projects of the Mothers, Union.
Dux Award- to provide annual prises for Students.
St Barnabas Cathedral fund- Funds received to suppart the work of the Cathedral.
Page 23

The Melanesian Mission
Notes to the Financial Statements for the Year Ended 31 March 2024
Endowment fijnds
Patteson-moss Memorial Fund Donated by Mrs John Patteson-moss of Toronto, to form a trust in
England in memory of her son. Any income generated from the capital is to be used to purchase
books for Melansian theological students
Amy Rawson Trust Fund - Bequest received in January 1975, the incorne for the benefit of the
Diocese of Vanuatu (which was later split into dioceses, Vanuatu and Banks & Torres)
Eleanor Rawson Trust Fund - Bequest received in January 1975, the income for the benefit of the
Diocese of Vanuatu (which was later split into two dioceses, Vanuatu and Banks & Torres)
Revd. Cyril Rawson Trust Fund - Bequest received in January 1975, the income for the benefit of the
Diocese of Vanuatu (which was later split into diDceses, Vanuatu and Banks & Torres}
Transfers be•￿een funds
Transfers have been made to designated funds and to restricted fund where part of the expenditure
has been made from general funds.
17 Analysis of net assets between funds
Unre8trl¢ted
funds
General
Endowment
funds
Expendable
Total funds
at 31 March
2024
Restrlcted
funds
Fixed asset investments
Current assets
Current liabilities
3,285,285
64,445
3,381
44,512
3,329,797
74,482
3,381
10,037
Total net assets
3,346,349
10,037
44.512
3,400,898
Unrestrlcted
funds
General
Endowment
funds
Expendable
Total funds
at 31 March
2023
Restrlcted
funds
Fixed asset investments
Current assets
Current liabilities
3.394,512
80,883
3,821
44,417
3,438,929
86,903
3,821
6,020
Total net assets
3,471,574
6,020
44,417
3,522,011
18 Related party transactlons
There were no related paty transactions in the year.
Page 24