THE PEACE MOVEMENT Charity Number 1123497 Unaudited Trustees. report and flnancial statements For the year ended 31 March 2024
The Peace Movement Charity No 1123497 Table of contents Sectlon Page R8f@rence and Administrative Details of the charity. its Trustees and Advisers Report of the Trustees ndependent Examiner's report to the Trustees of The Peace Movement Statement Of Flnancial Activities ('SOFA°) Balance sheets Notes to the financial statements 9-17 Page No l 0117
The Peace Movement Charlty No 1123497 Reference and adminlstrative details Charity Number 1123497 R8gistered office Suite 1- 4 1 Queensgate Centre Ors8tt Road Grays Essex RM17 SD Accountants Sodavlc & Associates 193 Sixth Avenue London E12 5PT Princlpal Bankers Barclays Bank PIC 39 Threadneedle Street Branch London EC2R 8AU Trustees The Trustees who held office during the year and since year end were as follows: Lanre Joda GlorSa Olulobi Bamidele Abibu Abiodun Oyedeji Olaltan Pa9e No 2of 17
The Peace Movement Charlty No 1123497 Report of the Trustees for the year ended 31 March 2024 The Trustees are pleased to present their report together with the unaudited financial statements of the charity for the year ended 31 March 2024. The financial statements have been preparad Sn accordance wlth the accounting policies set out in notes to the 8ccounts and comply with the Charilies Act 2011, the Companies Acl 2006, the Articles of Association and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland, published on 16 July 2014. structure, Governance and Management The Church Is constituted under the church governing document and is also registered with the Charity Commlssion with charity registration number 1123497. The management of the charity is the responsibility of the Trustees who are co-opted under the lems of the governing documents of the church. There were no changes in the Board of Trustees during the year end8d 31 March 2024, Objectlves and Activitles The objectives of the charity include: The advancement of Iha Chrlstian Religlon and Faith for the benefit of the public The furtherance of charitable works and th8 purposes of th8 charlty for the benefit of the public communlty as the Trustees may declde from time to tlme. These objedives are pursued by the op6rath)n of a Centre for Christian worship at its premlses at Queens Gate Centre, Grays and by programs of events aimed at reaching out to the un-changed together with a range of communlty-cant8red projects. strategles Strategles for achlevlng the objectlves: Tha church's stralegles for achieving its objectives were: Organlsation of seminars in the church wlth proven speakers and mlnlstgrs of Ihe faith to guide members on aspects of the Chrislian faith. The Trust has organised local community centres to bring local coheslon and where people of dlfferent b8ckground can in various ways feel part of the local community. The Peace Movement has a food bank arrangement that provides food for the community espèclally for those who are struggling in these present economic times. The trust provides a food bank for members of th8 church going through hardship. The food bank supplles are free to the beneficiaries and include a range of items from dry foods to basic provisions. Thurrock Kitchen is also one of the communlty projects of The Peace Movement. This project operates a soup kitchen, run by volunteers and members of the church, which provides free hot meals and drinks for individuals sleeping rough on th8 streets and homeless individuals and th8 dasiitute in th8 community. The Trust has embarked on new initiatives that alleviate personal poverty and improving individual ability to contribute lo the national economy by trainlng, encouraging education and enhancing skills.to becom8 employable and also start businesses. The Trust also supports other charitie5 With aligned goals. The Trust presently supports a charity that houses homeless 16 - 18 year old who are displaced for varlous reasons. P•9e No 3 of 17
The Peace Movement Charlty No 1123497 Report of the Trustees for the year ended 31 March 2024 Achi8vements and Performance Th8 charlty continues to yield tremendous results with an increased rate in the number of converts in line with its Statement of Falth as stated in its governing documents. Acttvities that promote and advance the Christian faith were embarked upon with the vi8w of reaching a wider audience and enhancing its charitable obligations. The charity also continues to provide financial support to other charities operating within its objects. The charity branch In East London started in January 2018 is now a thriving flagship. achleving gradual giant strldes within the local community. Flnancial Ravlew Incoming resources were £477,366 (2023: £433,699) during the year to 31 March 2024. Resources expended were £556.151 (2023., £446,773). The net expenditure for the year was (£78,785) (2023: £13,074 deficlt). Unreslricted reseNe at 31 March 2024 was £342,915 {2023: £421,700), while restricted reserves remained at £49,703 (2023: £49.703). Publlc Beneflt The Trustees are aware of their responsiblllty lo ensure that the actlvltles and objectives of the Trust are charltabl8 and beneflt the public. In setting obj'ectlves and plannlng activities, the Truste8s have given carèful consideratlon to the Charlty Commission's guidanc8 on the public benefit and In particular its supplgmentary public guldanc8 on the advancement of religlon for the public benefrt. The Peace Movement though a rellglous Charity. has core community-based projects and outreaches that are focused on benefiting the public and its Immediate community. Re88rves Poll¢y It Is charity pollcy to malntaln reserves that w511 pemiit it to maintaSn and grow its activStles for the purpose of enhancing over time, ils ability to meet ils charllable objectives. To thal end, the Trust86s seek to ensure that there are sufficient net current assets to support working capital wlth reserves to meet current liabilities. and to afford reasonable proteclion to the organisation in the contexl of currenl and anticipated levels of activity, commilments, risks and exposures to changing economic conditions. This will enable the Charity to be in sound financial posltlon, to continue to meet its financial obllgations and also be positioned to continue to deliver its charitable objects on the longer term. Charity cash balances at the balance sheet date stood at £72,431 (2023,. £149,942> and unrestrict8d r8serve at the balance sheet date was at £342,915 (2023: £421,700). The charity ¢onsid8rs this position S8tisfaclory in light of the decision to wholly own rather than leas8 under long term operating conlracts, Donations Pollcy The Trustees seek to optimise charitable donations in a way consistent with the stated reserves policy and subject to there being sufficient cash and Ilquld resources avallabl8 to support the charity ongoing business. Rlsk Management The Truste8s have assessed the major risks to which the charity is exposed. in particular th088 r@lated to the operations and finances of the charity and are satisfied that systems and procedures are in place to miligate exposure to the major rlsks. Pag9 No 4of 17
The Peace Movement Charity No l 123497 Report of the Trustees for the year ended 31 March 2024 statement of Trustees responslbllltles The Truste8s are responsible for preparing the Trustees, report and the financial statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities In England & Wales requires the Trustees to prepare financial statements for each financial year which give a Irue and fair view of the state of affairs of the charity and of its incoming resources and application of resources. including its incorne and expenditure, for that period. In preparing these financial statements, the Trustees are required to: Select sultable accountlng policies and then apply them consistently; make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless il is inapproprlate lo presume that the charity will continue in business. The Trustees are responslble for keeplng adequate accounting records that are sufficient to show and explain the charity's transactions and dlsclose with reasonable accuracy at any time the financlal position of the charily and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provlsions of th8 Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taklng reasonabla steps for the prevention and detection of fraud and olher irregularities. Approved by order of the members of Ihe board of Trustees and signed on their behalf by: Lanre Joda Date: /, [11- Gloria Olujobi Date: IDII Page No 5 of 17
The Peace Movement Charity No 1123497 Independent examlner's report to the Trustees of The Peace Movement (Mthe charlty.) I r8port to the charity Trustees on my examination of the accounts of th8 charity for the year ended 31 March 2024. Responslbllltles and basls of report As the Trust8es of the charity. you are responsible for the preparation of the accounts In accordance with the requirements of the Charities Act 2011 ('th8 2011 ACV). I report in respect of my examinatlon of the charitys accounts carried out und8r section 145 of the 2011 Act and In carrying out my examination I have followed the applicable Directions given by the Charlty Commission under sectlon 145(5)(b} of the 2011 Act ('the 2011 Act,). Independent oxaminerfs statement The charity's gross income exceeded £250,000 and l am qualified to undertake the examination by belng a member of The Chartered Institute of Management Accountants. I have completed my examlnation. I confirm that no materlal matters have com8 to my attentlon in connectlon with the examination giving me cause to believe that In any materlal respect,, accountlng records were not kept in respect of the charity as required by sectlon 130 of the Charities Acl; or 2. the accounts do not accord wlth those records: or 3, the accounts do nol comply with the applicable requirements concernlng the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requlremenl that the accounts give a'true and fairf view whlch Is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection w5th the examinatlon to which attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reached. Thls report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charitle5 (Accounts and Reports) Regulations 2008. My work has been und8rtaken so that I might state to the charity's Trustees those matters l am required to stat8 to them in an independent examlner's report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. om oseph-Akln nya Sodavic & Associates 193 Sixth Avenue London E12 5PT United Kingdom 21ftF 54 .2024 Page No 6 of 17
Tha Peace Movement Charlty No 1123497 statement of Flnancial Activitles for the year ended 31 March 2024 Note Unrestricted Funds Year ended 31 March 2024 Restricted Funds Year 8nd8d 31 March 2024 Total Funds Year ended 31 March 2024 Total Funds Year ended 31 March 2023 Income: Income from ChalltakAe aclivilies Donatlons and legacies Church operations 349,621 55,527 349,621 55,527 309,363 58.208 Olher Income 72,214 72,214 85.954 Inve8lment income 174 Totsl In¢om8 477 366 477 366 433 699 ExpondltUTO; Charitable activities (556,151) (556,151) 1446,7731 Total expendlture 556 151 556151 Net lThcomellexpenditurel (7B,785) 178,7851 (13,0741 Transfer to reserves Not movement In funds (78,785) 178,785) (13,0741 Reconclllation of funds: Fund balances as al 1 April 421.700 49,703 471403 484 477 Fund balances as at 31 March 392 618 471403 All of Ihe above results are derived from c4)nl¥iuing acliwtss. There were no gains or losses olhei than those reporled above. The notes on pages 9 to 17 forrn part of these financial statements. Page No 7 of 17
The Peace Movement Charlty No 1123497 Balance Sheet as at 31 March 2024 Note 31 March 2024 31 March 2023 Fix8d assets Tangible assets 613,511 620,460 613511 620,460 Current assets Debtors Cash at bank and In hand 10 1,624 72,431 8,636 149,942 158 578 Creditors.. Amounts falling due within one year 11 158.486) 153,023) Net current assets 105555 Totsl assets less current Ilabllltles 629,080 726,015 Creditors: Amounts falling due after one year 12 (236,462) {254,612) Net assets 392,618 471,403 Fund8 Unreslricled gèneral funds Reslricled funds 13 13 342.915 49,703 421,700 49,703 Total Funds 392 618 471403 The financial statements were approved by the Council on... . on its behalf by: _ 2024 and slgned Lanre Joda Trustee Date: The notes on pages 9 to 17 fom part of Ihese financial statements. Pag• No 8 of 17
The Peace Movement Charity No 1123497 Notes to the financlal statements for the year ended 31 March 2024 Principal accounting pollcles The financial statements relate to the year end8d 31 March 2024. The followlng accounting pollcies have been applied consistentty in dealing wlth items which are considered material in relation to the financial slalements: 1.1a Basls of preparatlon and consolidatlon Th8 financial statemenls have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charilies: Stalement of Recornmend@d Practice applicable to charlties preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). the Financlal Reporting standard applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011, The financial statements have been prepared to give a Irue and falrf view and have departed from the Chsrilies (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and falrf view. This departure has involved following the Charities SORP (FRS 102) published In October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effectlve from 1 April 2005 which has since been withdrawn. The Peace Movement meets the definition of a public benefit entity under FRS 102. Assets and liabilities are Inltially recognised at historical cost OT transaction value unl8SS Otherwise stated In the relevant accounting pollcy. 1.1b Golng concem The financlal statèments are drawn up on th8 going concem ba8is which assumes th8 charlty will continue In operational exlstence for the foreseeable future. The Trustees assess whether the use of going concem is appropriate i.e. whether there are any material uncertalntles related to events or conditions that may cast significant doubt on the ability of the Charity to contlnue as a going concern. Tr Trustee's make the assessment in r8SP8Ct of a period of al least one year from the dale of approval for issue of the financial statements and have concluded that no malerial uncertaintles that cast slgnificant doubt about the ability of the charity to continue as a going concern have been identified. Ihus Ihey continue to adopt the going concern basis of accounling in preparing the financial statements. The charity's activitles, together with Ihe factors likely to affect its future development, performance and p0stIOn are set out in the Trustees, Report on pages 2 to 5. The financial position of the charlty, its liquidity position are described in the primary financial statements on p8g&s 8 to 9. In addition, notes 1 to 16 in the financl81 statements include: the charitys objectlV8s, policles and processes for risk management. The ongoing Cost-of-Llvlng Crisis driven largely by high inflation is one of the main issues Currently afflicting UK and Ihe world economy. Whilst it is difficult lo evaluate with any certainty the potential outcomes on the future activilies of the charity. the Trustees have a reasonable expeciatlon that the charity has adequate resources to continue in operational existence for the foreseeable future, taking into consideration the Charitys level of res8tves and actions already taken. Page No 9 of 17
The Peace Movement Charlty No 1123497 Notes to the financlal statements for the year ended 31 March 2024 Accounting pollcles (continued) 1.2 Fund accounting The general fund is an unrestricted fund which is available for use at the discretlon of the Trustees In furtherance of the general objectives of the charity. Restricted funds are avallable for use only for the specific purpose specified by the donor or grantor. 1.3 Incoming resources Income is included in the statement of financial activities (SOFA) when the charity Is legally entitled lo the Income, it is probable thal the income will be received and the amount can b& quantified with reasonable accuracy. Grants received are recognised in full at the point when Ihe Charity becomes entitled to such fund5, Th1s income is recognised in full although spend may be over differlng flnancial periods. The balance of income received forspecific purposes butnot expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of recelpt, its recognitlon Is deferred and included in creditors as deferred Income. Where entitlement occurs before Income is received, the income is accrued. Donated servic8s or facllStles are reGognlsed when the charlty has control over the item, any condltlons associated with the donated item have been met, the receipt of economic benefit from the use of charity of the item is probable and that economic benefit can be measured reliably. In accordance wlth the Charities SORP (FRS 102), the general volunteer time is not recognised. On receipt, donated professional services and facilities are recognised on th8 basis of the value of thè gift to the charity which Is the amount it would have been willing to pay to obtain servlces or facilities of equivalent economic benefit on the open market; a corresponding amount Is then recognised In expenditure in the period of recelpt. Income tsx recoverable in relation to donations recelved under Gift Aid or deeds of covenant Is recognised at the time of the donation. Income t8x recoverable in relation to investment income is recognised at Ihe tim8 the investment income Is receivable. other income Is recognised In the period in whlch it is receivable and to the extent th8 goods have been provided or on completion of the service. 1.4 Expendlture and support Costs Expenditures are accounted for on an accruals basis, rgcognised once there is a legal or constructive obligation to make a payment to a third party, probable that settlement will be required and the amount of the obligation Can be reliably measured. Irrecoverable element of VAT is included with the item of expense to which it relates. Costs which are directly attributable to charitable activities arè r8corded against thos8 activities. Costs which are not dlrectly attributable to charitable activities and which are not governance costs are termed support costs. Support costs are allocated to charitable activities on the basis consislent with the use of resources. Central stsff costs are allocated on the basis of time spent, and depreciation charges allocated on the portton of the asset's use. All expenditure is Inclusive of Irrecoverab VAT Page No 10 of 17
The Peacè Movement Charity No 1123497 Notes to the financlal statements for the year ended 31 March 2024 Accounting pollcles (continued) 1.5 Governance costs Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include ind8pendent examination fees and costs linked to the strategic management of the charity. Gov8rnance costs are allocated to charitable activities based on the activltles total direct costs. 1.6 Tanglble fixed assets and d8preclatlon Depreclauon is provided evenly on cost to write off fixed assets (over £1,000) lo their estimated residual values over thelr expected useful lives. Where there is evidence of impalrment, fixed assets are written down to recoverable amount. The principal annual rates are.. Freehold property Fumiture, fillings & equipmenl Computer equlpment Motor vehicles Leasehold improvements 250 330A 330A 25% Over the primary lease term Where a tangible asset has been acquired lo deliver a specific and designated project which may have a term less Ihan the above rale periods, the assel is depreciated over the shorter life term of the project. 1.7 Penslons The charity operates a defined contribution penslon scheme and the penslon charge to the SOFA repres6nts the amounts payable by the charlty to the fund in respact of the year. 1.8 Leased assets Rentals payable under operating leases are charged to the SOFA on a straight-line basls over the life of the lease. 1.9 Interest recelvable Inl8rest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: thls is nomially upon nolificalion of the interest paid or payable by Ihe institution with whom the funds are deposited. 1.10 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offared. Outstanding debts are reviewed for recoverability according to age and specific circumstances. Provislon is made to the extent that debts are deemed to be irrecoverable. Prepaym8nts are valued at the amount Prepaid net of any trad8 dlscounts due. 1.11 Cash at bank and In hand Cash at bank and in hand includes cash and shorl-term highly liquid Investmenls with a short maturity of three months or less from the date of acquisition or opening of the deposit or simllar account. Paga No 11 of 17
The Peace Movernent Charlty No 1123497 Notes to the flnancial statements for the year ended 31 March 2024 Accountlng pollcles (continued) 1.12 Llabllitlas and provislons Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, It is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be reliably estimated. Liabilities are recognised at th8 amount thal the charity anticipates It will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provlslons are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is malerial, the provision is based on the presont value of those amounts, discounted at the pre-tax discounl rate that reflects the risks specific to the liabillty. The unwinding of the discount is recognised In the Statement of flnancial activitles as a finance cost. 1.13 Flnanclal Instruments The charlty only has financial assets and financial liabllltles of a kind that qualify as baslcfinanclal instruments. Basic financial instruments ar8 initially recognlsed at transactlon value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost uslng the effective interest method. Page No 12 of 17
The Peace Movement Charity No 1123497 Notes to the flnancial statements for the year ended 31 March 2024 Analysls of Income Unr•slrlcted funds 2024 Totsl fund5 2024 Total funds 2023 Donations Church operallons 349,621 55.527 349,621 55,527 309,363 58.208 405,148 405,148 367,571 Rental income Inte$1 receivable 72,214 72,214 65,954 174 477 366 477 366 433,699 Analy558 of expendlturn Unrostrkted funds 2024 Total funds 2024 Tolal fund5 2023 A¢liviti88 undertaklng diieclly Support costs Govefn8nce costs 348,557 200,503 7,091 348,557 200,504 7,091 293,618 146,496 6,659 556,151 556,152 446 773 Analysls of dlrect expendlture Church operntlons 2024 Tolal fund$ 2024 Total fund5 2023 Staff costs Rents, rates and servlce chaTges Conference and seminars Thanksgiving Chaiitable donations Honorarium Hospilallty Media, advertisement and promotion Musician expenses Manse expense Entertalnmenl Transportat 73,750 99,240 33,050 9,372 6.116 17.400 14.233 4.779 71.584 18,000 73,750 99,240 33,050 9,372 6,116 17,400 14,233 4,779 71,584 18,000 74,171 71,759 17,176 11,710 5,131 11,450 9,417 16,478 56,386 18,000 240 1,700 1,033 1,033 348,55T 293 618 Pag• No 13 of 17
The Peace Movement Charlty No 1123497 Notes to the flnanclal statements for the year ended 31 March 2024 Analysls of support costs Church operatlons 2024 Total funds 2024 Totsl fund8 2023 Communication and IT expenses Light and heal Repairs, m&nlenance & deaning Insurance Training Leg81 & professional fees Subsciiptions Administiallve & offtce expenses Building security Depreclalion Mortgage inter&sl and bank charges 5.169 73,456 38,360 8,531 126 700 6,124 37,021 1,596 6,949 22,471 5,169 73,456 38,360 8,531 126 700 6,124 37,022 1,598 6,949 22,471 5.867 55,590 32,508 762 795 2,896 19,545 1,582 6,949 20,202 200 503 200 503 146,496 Govornance costs 2024 2023 Independent examiner fees Accountancy and other seNices 2,500 4,591 3,072 3,587 7,091 Staff costs The average number of employees calculated on a full-time equivalent basis was: 2024 No 2023 No Employees The staff costs In respect of the above employees were: 2024 2023 Wages and salaries Staff bonus Soclal security costs Pension contributions 66,000 5,000 770 1,9BO 63,500 6,000 2,407 2,264 73,750 171 No employee received remuneration amounting to more than £60,000 in either year. Paga No 140117
The Peace Movement Charlty No 1123497 Notes to the flnancial statements for the year ended 31 March 2024 8 Trustees, remuneratlon and expenses During the year, no remuneration or benefit was pald to any of the Trustees (2023,, £500). During the year ended 31 March 2024, no expenses were r8imbursed or pald directly to any Trustee (2023 - £Nil). 9 Tangible flxod assets Flxlures & Computer Flttlngs Equlpmènt Motor vehl¢les Premlses cost Leasehold Property Total Cost Al1 April 2023 Addlllons 235,631 1,562 7,200 180,775 615,022 1,040,190 Al 31 March 2024 235.631 1.562 7,200 180,775 615,022 1,040,190 Depreclallon Al 1 April 2022 Charge for the year 224,472 5,818 515 515 7,2ry) 180,775 6,767 616 419,729 6,949 At 31 March 2024 230 290 1.030 180.775 7,383 428 678 Nèt book valua Al 31 March 2024 530 607 640 613 511 At 31 March 2023 11,159 1,047 608,255 620,460 10 Debtors 2024 2023 Prepayments and accrued Income 1,624 8,636 1,624 8,636 Credltors - amounts falllng due wlthln one year. 2024 2023 Bank loans Trade creditc Other laxation and social security Other creditois Accnjals and defetred incorne 17,154 27,094 1,407 5,266 7,565 17,402 5,335 1,530 4,924 23,B32 53.023 PageNo Isof 17
The Peace Movement Charity No 1123497 Notes to the financial statements for the year ended 31 March 2024 12 Credltors- amounts falllng due after one year. 2024 2023 Bank loans 236,462 254,612 236,462 254,612 Included wlthln the above are amounts falling due as follows: 2024 2023 Beeen one and two years 8ank loans Between two and flve years Bank loans 41,778 42,877 Over flve years Bank loans 178,690 13 Charlty Fund8- movements in the year Balance 1 Aprll 2023 Income Exp8n8e Balanca 31 March 2024 General fund Reslrlcted funds 421,7 49,703 477,366 (556,151) 342,915 49,703 471,403 477,366 1556,151) 392,618 14 Analysls of funds The group's net assets belong to the various funds at 31 March 2024 as follows: _ Tanglblo fixed assets Current Current Long Term assels Illabllitles) {Ilabililiesl Net asgets General fund Restricted funds 613,511 24,352 49,703 {5B,486) (236,4621 342,915 49.703 613 511 74.055 58A86 236,462 392,618 Page No 16 of 17
The Peace Movement Charlty No 1123497 Notes to the flnancial statements for the year ended 31 March 2024 15 Pension commitments Th8 charity operates a defined contribution pension scheme. The assets of the scheme are held separalaly from those of the charity in an independently administered fund, The pension cost ch8rged to the SOFA r8pr8S8nts contributions paidlpayable by the ¢harlty to the fund. At tha balance sheet date. amounls totalling £440 (2023 £385) were payable to Ihe fund and are included In creditors. 16 Related party transactlons Durlng Ihe year, no payment was mad8 to any of the Trustees (2023.. £500) and there are no outstanding balances owing between related partie5 and the charity at 31 March 2024. Page No 17 ot 17