REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 FOR EVANGELICAL MOVEMENT OF WALES MHA Chartered Accountants and Statutory Auditor Elfed House Oak Tree Court Cardiff Gale Business Park Cardiff CF23 8RS EVANGELICAL MOVEMENT OF WALES CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Page Report of the Trust•05 1 to 5 Report of the Independent AudStQTS 6 to 7 Statement of Flnanclal Actlvltles Balan¢e Sheet Cash Flow Statement 10 Notès to th• Cash Flow Statement Notes to the Flnanelal Slatements 12 to 21 EVANGELICAL MOVEMENT OF WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023 Th8 trustses present thair r8POrt I￿1h the flnanc(al statamon15 of the charity for Ihe year ended 30 Seplember2023. The trusl¢es have adopted the p￿¥6510n5 of Accounting and Reporting by Charibes.. Statement of Re￿rnMen￿ed Practice applicable to charities preparing their a¢¢ounts a¢cordance with th6 Financial Reporting Standard applicable in the UK and Rep￿blIC of Ireland IFRS 1021 leffeGlive 1 January 20191. OBJECTIVES AND ACTIVITIES Obl8Ctlves and alms Th8se are as folows.. al Th8 promotior* of a true and faithful ￿tnesS to thè lundarnental truths of the Chr￿t12n faith188 ouuined In the Do¢trinal Belief in Clause 31 and to the essential spiritual unlty of those who $ubs¢rfbe to it. bl To bring others to 8 personal kno￿ledge of the Lord Jesu5 Christ, and to encourage such lo live a godly lrfe. To foster èvangelistn. e)periential religion and a conc8m for rewval. dl To provide means for unitsng and eo-ordinaling the wlness and fellowship of evangdical churches. fellowships and individual Ghrisb'ans. el The formation and supervision of evangel￿al fellowships. The publication, distribution and s*e of Erolish and We15h literature consistent wth Ihe Doctrinal Belief of the Movement and to fac￿lItate the same to open such shops and other Lxjuets as may be necessary lor these purposes. Prowded that Ihe IADvem8nt shall not undertake any permanent trading which is not 8ncillary to the objects deS￿bed above. gl To provKle Christian v￿￿er$ who subs¢ribe to the Movements DtKtrin81 Beli8f with advice and support. hl Yo promde theologlcal edueation training for p8rsork8 aspiring to Christon serwce wpthin the evangekal constituency. To co-operate other Ix)d¢es. at home and abroad, bvhich svb5crib8 to the Movernenfs Doctrlnal Beliets In thè furtherance Of th8 fwegolng Aims and Oblactives. To help Chri8tl8ns think and act biblrally regatding Ihe worfd in which we libE. Subject lo any GonseTrt5 requir8d by law, lo borrow and raise rnoney In any manner whether or security 01 any public appeal to facilltate th* achlevemenl ol the oblects. To inv8St surplus monies from time to time Sn suth manner as Is allowed by ¢aw. ml To do all such other lawful things as are necessary for the achievement of the 0￿e¢l$. kl Slgnlflcant actlvltles The Movement $¢rves ¢hurches. We continue to serve the church bw. supporting. training, encouiaging and developing churth l&aders'. resDurcSng tralning churche8 and Christiar4S With Bible-based, gospekeDtred resources., cryanising conferences 8nd events that lea¢h the 8ible and promote Christian unity by bringing together people fwm a variely of different churchfrs., running camps and other ministries for young people; suppotting ¢hurches In misslon and evangelisrn., encouraging prayer, particularty for Wales. In this context. volunteer5 contribute significanty to almost 811 areas of Ihe Movemenfs work. Thfs p￿￿￿￿$ 8 strong basis of skills. 8nd enable8 our rninislries to be more alloTdable. Our Garnps anrl our bookshops in Bang￿. 8ala, Neath and Wrexhatn ar8 totslly staffed by volunl88rs. Publlc beneflt of the 8ervlee$ provided by th¢ Movement The organisalions trustees can confirm that they have complied bvith the duty in Section 17 of the Chgrities Act 2011 to have ijue regard to publ1¢ benefit guldanee published by the Comrni58ion, as demonstrated by the above oèlectfves and activities. Pagg 1 EVANGELICAL MOVEMENT OF WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023 ACHIEVEMENT AND PERFORMANCE Charltablts aCtI￿tIeS 11 has be&n a busy ye8r for th8 tharitywth an increase In minis¢ries and numbers a￿E$s1ng ¢)ur se￿CeS. The folltrwing is 8 Summary ol Ihe main a¢tivits'es of Ihe year. 1 Serylng th¢ ChuT¢h through organlsing conferenc•8 and ¢vènt$ that teach the Bibl? and promote Chrlstlon unlty by brlnglng logethe¥ people fiom dlfferent Gh￿￿h*S The summer residenlial conferenc85 in Engllsh and Welsh took place. Roughly 1,100 8tt8nded the English conference in person, 250 allended th8 Welsh COnfe￿nCe, and many rnore watched onlin8. The South Wales Ladies Conference as well attended. and our ConferetFC8 Centr8 SUPPCrted many hu￿1[0d$ of Christians and Churehe5 throughout the UK. 2 Se￿{￿g the Church through Supportlll9. Training and Oeveloplng Chuich Leaders The training and support of church leaders are of major significance for the church's health In Wales. Twenty-foui men are curr8nlly on our Thedogl¢al TrolnSno Course 1￿cl. designed for m8n ca118d into Chiistlan mlnlslry . an Increase over the prevlous yeaw. The course Continues its hybrid dellvery. with Some 5tuden15 and lecturers joining from off-site locations. Our P8slors' Wives Annual ConfeTence look place in Bala with around 30 women attending, and ￿gUlar onlin8 meetirrfJs tske plac* over Zoom. Wolsh and English R88id8nts"al Mlnl$ter$' ¢￿ferenCeS rosumed wllh roughly 20 and 75 men 4ttendSng, respectively. 3 Ser¥ing the Church through runnlng camps and other mlnl$trl•s f¢xyoung p81)ple Over the ¢ourse of tho year. we rdn fourteen residential camps attended by over 500 young people. We increas8d our bursaries for young people frorn disadvantaged ￿onoMiC siluations this year. We have also employed a youth ¥esources workef on a thre&yeaF ¢onlTa¢t to develop r8sourc8s for young people dellvered Ihrou9h ftx)bde phonos. 4 Servlng th¢ GhuKh throu9h resourclng and tralnlng ¢huKhes and Chrl$tlans wlth Bible based. Gospel entred resou￿e$ Our Engllsh and We15h language trwazines, The Evangelkal Magazlno antf Y Cyl¢hgr8vm Efengwaidd continued to be pr(xJured and appreclaled. We are producing few8r ErKJli$h and Welsh language books (published under the Bryntirlon Press and Gwa5g 8r>nlirion imprinlsl. bul have beerTr heartened by the sales ol avangeli51ic resources and ¥￿wIng figures for ¢xJr bi4ingual KEbsiles IErnwlHoli-CyfflrulMECIEvangelical Magaine and YouTube ¢hanDelsl. Our bookshop$ cfjntinuo. but sales or• lallirvJ, whlch led to the ¢lo$ure of the Bangor bookshop. 5 Servlng the Church through supporting chtsrehe5 in M15sion and Evang8lF5m We produced and dislribute(J evangelistic magazines lor use by churGhe5 and 8t national events such a5 the Nat￿￿81 Eisteddf￿. the Roy81 Wdsh Show, 8n¢5 the Hay Festival. Stsff rnernbers ènd tDJstees also p8rtrcipal8d in evan9eli5ti¢ events and podcasts Ihroughoul the UK. 6 Servlng thtr Chvt¢h through encourlglng prayer forwales We continue lo encourage prayer thfOU9h prayer letters and bulletins. and subscription numb*s are Inrxeasing. Oue to slaffing limitslions. we di5Gontinued the produclicn of daity devol+ons. FINANCIAL REVIEW Financlal p051tlon The attached financi21 statements set tt)e Sn¢orne and expenditure of Ihe chanty for Ihe year lo 30 September 2023 8nd lh8 position at the year end. The Evangelical Movement of Wales ￿pOrted a defi¢it for the year of £5,448 comparad to a surplus of £47,505 In the premous year. ITh the past, assets were sold lo mainlaln a cash balance. This is not our preferred rnethod of pro¥Ading cash r&sour¢e5 even though the value of properlles oNfrned by EMW is mora than Ihe ffgure shown lrn these 8¢¢ounlS. Onty11 ab501ulely necessary would Ihe value hald in property be used to seture shDrt-terTn overdraft facih'tE5. Prlnclpal fundlng Sou￿?$ While surplus frorn some rninislri¢& continues to be an important sourGe of income, VR continue to be grateful for the 9enerou$ 9iwng ¢>f our 5UPPOrter5 and r6cognise Ihat all these resources ults"malely are prOV￿e￿ by our G¢yJ. Investment pollcy and oblectlves There are no restrictions on th8 EMWS ¢nveslrnent P￿r. The twslees have Invested cash not Immedlately r6qu5r8d In Money Market accounts as this ha5 been foun¢1 to give the bost return and ensure acces5 to tho fund5 Is available when necessary. Stock market investrnents art not c￿sidered to be in accordance wth the EMW'S ethical stanlpoinl. Page 2 EVANGELIGAL MOVEMENT OF WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023 FINANCIAL REVIEW Re$oNo$ poIiGy The total funds of £1.925,934 Indude £96,889 whl¢h are held for restricted purposes as shown in the notes to the accounts. A futher £1,364,702 has been designated for spaufic purwses. set wt in the same note. These designated funds compris& of fLKed as8els, stock and cash. The rernalnlng £464.943 artr the f￿8 reserves. The ¢harty's policy is to have sufficient free reserves lo cover working (apital requirernenls. day to day runniw e05ts and planned deficits without the n2ed for bank bornowln9. The trustee5 fewew the policy annually ¢n the light of charoing clrwmstsnces. Risk management Th& principal risks la¢in9 the EMW are financi￿ risk, the risks associated vhlh $afeguarding chlldfftn adults at risk of harm. falling volunteer numbers. and a rnove away from our do¢trinal basls. Our volume of aGtivity ￿rna1ned high ￿ the summer of 2023. and we are gral8fttl for the number of stjltable volunteets. Whlle the overall activlty level an(t the EMW'S dependen¢e on gifts Co￿tInUe, the Iru5tees believe that the EMW wll be ablÈ to continue intrj the futur&. We remain commilled to d8¥eloplng our Informa￿on systems and strengthgning good wkiw p¥actice5 thrDugh our Empbyee Handbook and staff trainlng. An inlemal review of the administrative systerns land stsffiTrJ support) will tsko place next year to Safeguard staff 5UPPOrt and the Cofreet and tffeclive use of volunteers. Saleguarding rfsks principally ari59 from our th with ckdldren. Th8se risks arg managed by a dÈeFrfy ing¥ained assessment, approval, rnonitoring, and reporbng $y8lem for our staff, volunteers. all who can ac¢ess EMW activities. The Irustses commi$$ioned an external review Ihis year, and a new policy and code of conduct was introduced. Thi5 pdicy has been irnplerr￿ted and ¥rill be ck)sely monitored by a rtomlnated person acting on behaLt of Ihe trustees, wth updatss snd raports given to all trustees. meetings. We bel￿e tyayerfulness L% vital alongside our wactKal diligen￿ in all these area$. FUTURE PLANS Our Management Boarij has ￿cognISed the follohwryj areas as ￿Orit￿5 for Ihe coming years.. Supportlng Leaders. Thls Includes.. Relaunching our New Pastors. Conferance and Church Training Days. Increasing our prowsion for women in Chrisliart work through a retreat. Emtysoylng a Pasttsral D1￿Ctort0 $L*PPOrt pastor5 throughout Wales. Children and Youlh W¢yk. Thls in¢ludes'. I￿reasing the numberof shorter camps to ensure that camps ere more arxessible lo young people. Laun¢hing a mobile phone-b8sed resource to support young people. Developing a nethrk of youth leader5. Evan9elism an¢ Prayer. This indudes.. Working ck)sely wth Chur¢hes and Christians in geogrdphical a￿a5 that have lillle support. This indudes Church r&vMalisation. Staff support and welfare. Th5$ indudes.. Ensurlng that Man8gemenl Board members are Ilnkod ￿th stsff to offer support. A rewew of staffing structures to ensuie that the Ntsth Wale5 Office is supJ>orted and sentor members of 5toff are not overworked. A revlew of adminlstralve proc¥sses ￿1h]n the charity to ensure offectNO use of resour￿$. The Man8gem8nl Board VAII be refomed next year Ip¢r the ¢on5th't4Jtionl. We seek to appoint new trustees to help broaden the boarcf5 gifts and repres8nlalion. Page 3 EVANGELICAL MOVEMENT OF WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED JO SEPTEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Gov•mlng document The Evangelical Mov8menl of W8le$lMudiad Efen9ylaidd Cymru Iherelnafter referred to a$ the EMWI vds ￿gIstered a& a charity on 19 November 1963. The EMW'S Constitution, adopted on 9 Aprfl 1962 and arnended on 24 Apr¢1 1980. 1S November 200Q, and 20 February 2008, governs the ¢h¥rity. whi¢h 15 an unincorporated assoclab"on. RÈ¢ruitment and appo¥nlment of new trustees New tnJ$tees are appointed lo the Management Board fdlmng Ihe EMW'S Const￿lUtiOn. Appointment to Ihe board shall be made by a resolution of Iw&thirds of the members of the board who are present and voting. The chairman and vice-chairs shall b8 8le¢ted by Ihe board metnber5. and the support of ￿￿thIr￿lS tsf the members of the board who arè p￿sent and vob.ng is required. No person shall be eligible lo be a rneTnber of the Management Board unless ￿ shall give a5senl lo land stqn annually) the doctrinal basis of the EMW and live a lile worthy of the gospel. The Mana9em8nt Board shall serv8 for a of three year5. At the end of the Ihr88-year period. all board members shall retire, but members meetlhe ellgitrA'lity criteN8 abov8 ¥*ill be 81￿1ble for re-appointment. Organi$atJonal $twcture Members of the Management Board are the EMW'S Iru8tees. They have full and final fesponsiknlity for formulating Im[*eMen￿.ry the EMVV'S ￿rn$, Objects, and Doclrlnal Basi$. The boord consists of the chaimian, vrce matertal ¢Separtures from Finanoal Reporbng Slandard 102. The financial statement5 have been prepared lo giv8 a'tnje and far, vlew and have departed Irom the ChaThtsos IAccounls and Reports) Regulation5 2008 only to Ihe exient to provFde a Yrue and faiff wew. Thls departure has Involved following the Accounting and Reporting by Charities.. Statement of Recomm8nded Practice applicable to tharities preparing their accounts in accordance wth the Financial Re￿rtIng Standard applicable in the UK and RepUt￿lC of Ireland issued in Otlober 2019 other Ihan the Accounbng and Reporting by Charities.. Statem8nt ol Recommended Pra¢ti¢e effective from 1 April 2005 %thich has since been %frilhdrawn. Evangelical MDvemenl of Wales meets the definhion of a public benefft enbty zs de[[￿nstrated wilhin the Report ol the Trustee5. Income All Incotne 15 reco9nised in the Statement of Financial Actiwlies once the charity has entid8ment lo the fund$. It is probable Ihal Ihe income VAII be received and the amount ¢an be measured rellably. Thi5 InGludes Capital 9rant5. Don2ttons and legaties In¢ome Indudes ¢Jonations. glfts and grants that tyowde Core funding or are of a gen8ral natu￿ and are recognised where there is enlillemenl. probability of receipt and the amount can be mea$ured with sufficient reliabilily. Such In￿Me 1$ ¢¥ferred wh¥n the donor 5peofie$ il mu$t be used in luture a¢¢ounting periods or tho donor has irnposed conditN)ns which rnu5t be met before the charity has uncondi￿onal enlidernent. Ir￿orne fr(xn Gharitable activities include5 income received under contract or %th8re 8ntfdement to grant fundlng IS Subject to specific performanca condillons. This in¢ome is ￿¢09n1$￿ as the ￿lated Se￿ceS are prowded and ther8 Is entitlement. probability of ￿ceIpt and the amount Can be measured with suffiGieTrt reliability. Income 15 deferred when the amounts received are in advance of th8 perfomiance of the seNce or event to wh￿h they elat8. Investrnent income is recognised on a rec84vaNe basis. tt is not Ihe policy of th8 charity to show income net of expenditur8 unless t￿ sums invotved are lrnmaierial. Expenditure 8bililie5 ar8 r8cogni58d as exp8ndItU￿ as scon as there Is a 18g81 or constructive obligallon comml¢¢ing the charlty to that expeftdilurè. il is probable Ihal a transfer of economic beneffls VAII be requlred in settlement and the arn(yJnt of the obligation can b& measured reliably. Ex￿ndItUre is accounted for on an accruals basis and has been classified under headings Ihat aggregale all cost related lo Ihe category. Where tost$ ¢annol be dif0¢Uy attributed to particular headings they have been allocated lo activitie5 on 8 bast5 consi51ent with the use of resources. Page 12 continued... EVANGELICAL MOVEMENT OF WALES NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED JO SEPTEMBER 2023 ACCOUNTING POUCIES- ¢ontlnv8d Expèndttur* EXpendItu￿ on ¢haritable actI￿tieS cornprisas those costs Incurred by the eharlly in th$ delivery of it5 acti*ities and servic85 for its beneficiarles. It Includ&s both costs that can bo alkxatEd direcuy to such acllviti85 and those costs of an Indirect nature necessary to 5UPPOrt th8m. Support costs are those cost$ that, whll$l ne¢es5ary to deliver an acti¥ity, do nol themsefv8$ Produ￿ or constitute Ihe output of the charitable acti￿ty. This Includes governan￿ costs Mthlch are those costs ussociated wSth meeting the Gonstiiutional and statutory requlr8ments of the charfty and Include the accountancy fees and costs linked lo the $trategl¢ management cf the tharity- Allo¢atlon and apportlonment of ¢osts AJI costs are allocalÉrl between the expelldibJre cale9ories on a basis designed to refiecl th8 use of the source. Costs relating to a Par￿cular 8ctivbty ar8 allocated dire¢Uy, others are apportionèd on an approprfale basi5. Irr8CQV8rab18 VAT is allocated on the same basls. Grants payable Grant5 payabla are payrnents made to third parties in the furfheran¢e of Ihe tharitable objectives of the charity. The grants are recognised Whe￿ the trustees have agreed to pay the grant and the re¢ipient has a reasonable expeetstK)n Ihat they will receive a gr8nl, provided IhÈy Com￿Y wlh the terms of the agreement. Grants offered subject lo terms and conditions which have aot been met al the year end date are noted as a commitment but not accrued as expenttiture. Pension ¢o$ts and other post-retlrement benefits Th8 charity 0￿rateS a d&fined Gontribution pension scherne for ernployees. The assets gf Ihe $¢heme we held separatety from those of the charity. The annual contributifms payable are charged to the 5taternent of finar￿￿91 activities incorporating the income and expentliture aGGount. Flx8d a888ts and d¢pre¢latJon Fixed assets a￿ inrtially recorded at cost. Only assets whith cost £500 or mtye a￿ ¢apitali5e(t by Ihe charity. De￿o￿tion 15 calculated so as to write off the cost of an asset, less its esbmaled ￿Idual value, over th? Useful e￿noMiC life of thai asset as fdlows.. Equipment Freehold prO￿ty 20Y4 straight line 2% straight line The freehold property is depreaated over ￿ expected useful Ilfe tsf SO years, ¥nles5 thE trustees wn5id8r the ¥esidual value is nol less than Ihe fX)sL Invèstment property Inveslrnenl property is sho￿ at most recent valuauon. Any ag9￿gate S￿￿luS or deficit arising from changes in fair value is ￿Cognised in Ihe St8tem8nt of Financial Aetivrties. stock5 stock Is Included at the lower of cost or net pealisatle value c81culat8d on an allornat4ve sto¢k valuamon molhod based on the current S81es price le$$ the pr￿1￿Cts gross profit mart up which 15 dependant on the nabjre of Ihe stock item. Operating leasing agreement8 Rental$ payable under operating 18a585 are charged to the Statement of FlnancSal AC￿￿tt￿8 as Incurred 0¥or th tèrm of Ihe lease. T8xatlon The charity Is exempt from tax on its ¢harit&Ae octi￿ties. Financial instruments The ¢harity only has financ￿1 •5sels and finanryal liabilities of 4 kir¥J thal qualify as basic finanual instnJmeTrl$. Basi¢ finanoal instrurnenls are initially reeognised at tra￿actiOn value and subsequently measured al Iheir setdement value. Page 13 continued... EVANGÈLICAL MIWEMENT OF WALES NOTES TO THE FINANCIAL STATEMENTS- contlnuod FOR THE YEAR ENDED 30 SEPTEMBER 2023 ACCOUNTING POLICIES- continued Taxallon DebtOTS Trade debtors and other debtors are recognised at the selllemenl arnounl dLt8 and wep8yments are valued ai the arnount prepaid. ¢r¢dito Crettitrjrs are recognl$ed where the charty ha5 a present obligation resulllng from a past ewnt that probat4y rosull in the transfer of funds to a third party and the amount due ¢0 $8ttle Ihe oblig8tior* can b8 measured or estirnaled reliably. Creditors are normally recognised at their 5elllement amount after allowlng for any Irade dlscounls due. Fund$ s¢wdure Unrestricted ftsnds reprp5ent re50urce5 available lo be apptied by the trustee$ for Ihe general purposes of the charity. Designated fvnds a￿ amounts set aside from the general ￿reStricted funds to be used fly particular purposes. They remain part of unrestricted funds. Restricted fvnds are iesources to which the donor has stipulated may only be applied for parbcular purpo$e5 ithin the cthaTitys obiects. Termlnatlon paymént$ The chaisty recognises terrninalicm payments as an expense arLd a liability only wh&n Ihe entity 18 demonstrably committed either lo temiinate the ewFAoymenl of an ernPloy￿ or a group of employeos before the nomal rellremenl date oi to provide lenllhation benefits as a result of an offer made in order to enc(yJrage voluntsry dundancy, Employ88 benefits When employees havé rentlered service to the charty. short.tem) emyoyee benefits to which emrAoyee$ are entilled are recognised èl the undiscounted arnount expected to be paid in exch8ng8 for Ihat servlce. DONATIQNS AND LEGACIES 2023 2022 Donations Legacies Grants 114.544 60,149 137,373 21.503 4,000 174,693 162.876 Grants recelved, IncludeEI In Ihe above, are as follow5.. 2023 2022 Swansaa Cty Counc Neath Port Talbot Councll 2,000 2,000 Page 14 ¢onUnued... EVANGELICAL MOVEMENT OF WALES NOTES TO THE FINANCIAL STATEMENTS- contlnvod FOR THE YEAR ENDED 30 SEPTEMBER 2023 INVÈSTMENT INCQME 2023 2022 Depv511 accounl interest 5,814 3T8 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Activ&ty Bookshops Pr885 and M￿az￿ne$ Conleren¢e Centre Conferences Camps OU¥&r mlnistrios Bookshop $ale$ Pre55 & magazine s¥Fe5 Conferenc8 C8nlre fee$ Conferences Income Camps inccrne Other ministr 120,089 15,488 T5,353 192.942 132,572 31,521 127.9S7 15,286 88,477 180.057 122,443 40.05CI 567.965 574,270 CHARITABLE ACTIVITIES COSTS Support ¢OSts Isee note 71 Diffj¢t Costs Tota15 Bookshops Pre3s ar￿ magazlne$ onfe￿nCe centre Conferences Camps Olher rnlnlslrles 124,145 22,889 153.040 174.463 87,253 16.816 11,407 16,364 8.938 45,845 63,323 53,19) 135,552 39,253 161.978 220,308 150,576 70.Q06 578,606 199,067 777,673 SUPPORT COSTS Govemanc costs Salarfos Ott)er Totals B￿kshOpS Press and magaanes ¢onferen¢e ¢entr¢ Confe¥ences Camps Other minSsts)"es 5,376 7.712 4.212 21.606 29.843 25,067 5,S1S 7,912 4.322 ¥2.1fj6 30,617 25.718 S16 740 404 2,073 2,863 2,405 11,407 16,364 8.938 45.845 63,323 53.19CI 93,816 96,250 9,001 199.067 In¢luded wSlhSn support Costs is an amount of £5,000 in re5P8Ct of statutory 8udit fees and £4.400 in respect of othar serwces paid to the auditor. Pag8 15 Continued... EVANGELICAL MOVEMENT OF WALÉS NOTES TO THE FINANCIAL STATEMENTS. con¢lnu¢d FOR THE YEAR ENDED 30 SEPTEMBER 2023 TRUSTEES. REMUNERATION AND BÈNÈFITS There were no trustees. remuneration or other benefits lor the y88r ended 30 Sepiember 2023 or for the periyj ended 30 Seplember 2022. Tru$t¢e$' expenses There were paymènts made of £80812022. £3.8591 to 2 12022 - 41 trustee5 in r8SP8Ct of the re¢mburs8ment of Iravelling expenses incurred bytrustees attending meetings on behalf ofthe MovemenL All other paymenls made to trusiees are ¢Jisclosed as 1o1gted partytransactions in note 19. STAFF COSTS 2023 2022 Wag8s and salaries Slxial security costs Pension costs 156,115 11,039 2,772 1fj4,472 10,862 2,874 169,926 178.208 Total rernuneral￿n paid to k8y management pewnnel in Ihe yearamounted to £38,04212022.. £40,616). The avora90 numbor of staff &mp4oy8d by the chaAty dudw the yearw8$ 1112022.. 111. No employee re¢elved remuneraYon in ex￿5 of £60.0¢]O durirvJ the year. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES Unr8Stricled funds Reslrlct fijnds Totsl fvnds NCOME ANO ENDOWMENTS FROM Donation5 and169acies 77,647 85.229 162.876 Charitable activiti85 8wkshops Pres5 and magazln8S Conferenee cent Conference5 Camps Other minl$lries 127,957 15.286 88,477 180.057 122.443 40,050 127,957 15,286 88.477 180,057 122.443 40,050 Invéstment Intome Olher inGome 378 19,514 378 19,514 Total 671,809 85,229 757.038 EXPENDITLIRE ON haritable a¢tlYltlo$ ecmikshops Press and ma9azines Conference centre COnfe￿nceS Camps Other minislries 150,318 36.212 79,313 207,004 100,010 81,150 21,125 575 8,560 1.060 12,413 11,793 171,443 36,787 87,873 208.064 112.423 92.943 Total 654,007 55,526 709,533 NET INCOME 17.802 29,703 47,505 Poge16 continued... EVANGELICAL MOVEMENT OF WALES NOTES TO THE FINANCIAL sfATEMENTS- ¢ofttinued FOR THE YEAR ENDED 30 SEPTEMBER 202J OMPAK4TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- ¢ontlnued Unrestricted fvnds Reslricled funds Total fvnds RECON¢ILIATION OF FUNDS Total funds brought lorward As prewously reported Prlor year adjustment 1,932,189 193,9531 45.fj41 1.977,830 I93,￿3) As r88tated 1.838.236 45,641 1,883,877 TOTAL FUNDS CARRIED FORWARD 1,856,038 75.344 1.931,382 11. TANGIBLE FIXED ASSETS Freehold property Equlpment Totals COST At 1 October2022 Additions 1,306.171 4,786 52.765 7,159 1.358,936 11,945 At 30 September 2023 1,310.957 59,W24 1,370.881 DEPRECIATION At 1 October 2022 Charge for year 102.195 8,242 43.359 6,262 145,554 14,504 At 30 September 2023 110,437 49.621 160,058 NET BOOK VALUE AI 30 Septetnber 2023 1.200.520 10,303 1,210.823 AI 30 Septernber 2022 1.203,976 9,406 1,213,382 11 INVESTMENT PROPERTY FAIR VALUE Al l October 2022 and 30 September 2023 10,893 NET BOOK VALIJE At 30 September 21)23 10.893 At 30 September 2022 10,893 The invèstment property relates to an &rea of land held BryntSrion. It Ls belng hgld vthlh thè potential of getting plannlng permls5ion andlor for resale. Page 17 contirxjed... EVANGELICAL MOVEMENT OF WALES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR EP4DED 30 SEPTEMBER 2023 13. STOCKS 2023 2022 stocks 78.4Y7 89,029 14. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors Other debiors p￿paYments and accll￿ incorne 5.902 10,859 60,098 4,767 21,693 48,538 76,859 74.998 s. CREDITORS.. AMOUNTS FALLING DUE W￿H1N ONE YEAR 2023 2022 Trade ¢reditor$ VAT Other creditors Accruals and delerred incomg 156,679 40,638 8,220 17,277 5,484 36.024 9,456 131,784 222,814 182,748 16. LEASING AGREEMENTS Minirnum lease payments under rx)n-¢an¢ellable uperallng leases fall due a$ lollows.. 2023 2022 Within one year 14,347 16,654 Operating lease payments recognised as an 8XP8nse in the year arnOUnt￿ to £26.58012022.. £24.1711 17. MOVEMENT IN FUNDS Net movement in lunds Transfers beiween funds At 1110122 At 3019123 Unr¢$trlded lunds General iund Stock fund Capital asset funcl BYG Designated Development fund 478.845 89,029 1,224.275 83.889 126.9931 13,091 170,5321 12,5591 464,943 78.497 1,221.718 63,889 1.856,038 126,9931 1,829.045 Restrlcted fund$ BYG Dev&lopment fvnd Auntie Bessie Carnp Support fvnd JE Davios flowers fund Lwbrau lund Show5 and Fairs Evangelism Wrexharn Lkx)kshop 330 20.628 19,009 17,498 4,879 13.000 330 15,283 40.760 30.346 4,879 5,291 IS,3451 21,751 12,848 17,7091 75,344 21.545 96.889 TOTAL FUNDS 1,931.382 15,4481 1,925.934 Page 18 continued... EVANGELICAL MOVEMENT OF WALES NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR ThE YEAR ENDED 30 SEPTEMBER 2023 17. MOVEMENT IN FUNDS- Contlnued Net movamenl In funds, Induded in the above are as follows- Incoming resources R8sourcgs 6¥pended vement in funds Unrestrlcted funds General fund 692,397 1719,3901 126,9931 Restrtcted funds Specific donations BYG Development fvnd Auntie Bessie Carnp Support fund JE Davies flowers fund Llwybrau fund Wrexham booksh)p 40.208 270 2,400 22,300 14,650 140,2081 12701 17,7451 1549} 11,802} 17,7091 15.3451 21,751 12,848 17,7091 79,828 158.2831 21.545 TOTAL FUNDS 772.225 1777,6731 15,4481 Comparatlves for mov¢m¢nt in funds Prior year &dju5trnenl Net movemènt in funds Transfers batsv88n fvnds 1110121 3019122 Unrestricted funds General fund Stock fvnd Cap￿181 asset fvnd 8YG De5ign8ted Development fund 419.848 117,260 1.331,192 193,9531 17,802 135,148 128,2311 1106,9171 478.845 89,029 1,224,275 63,889 63,889 1,932.189 193,9531 17,802 1.856.038 Restricted funds BYG D8V81opment fund Auntie Bessie Carnp Support fund JE Davi85 flow8rs fund LIv￿ra￿ fund Shows and Fairs Evangelism Wrexham bookshop 330 330 20,930 16,334 3.498 {3021 2,675 14.000 20,628 19,009 17,498 4,879 4,879 13.000 13,000 45,641 29.703 75,344 TOTAL FUNDS 1,977,830 193,9531 47.505 1,931,382 Page 19 Cc￿lIn￿ed... EVANGELICAL MOVEMENT OF WALES NOTES TO THE FINANCIAL STATEMÉPITS- ¢ontfjnutd FOR THE YEAR ENDED 30 SEPTEMBER 2023 17. MOVEMENT IN FUNDS. contlnu¢d Comparative net movement in IutKJs. included in the above are as follows.. Incomlng resources R8sour(*s expended M0￿Ment In fvnds Unr¢$¢rl¢¢ed funds General fund 671.809 1654.0071 17.802 R•$irlct0d funds Spe¢ifi¢ donations BYG Developmentfund AUn￿e Bessie Camp Support fvnd JE Davigs flowers futTrd Llwybrau lund Wrexham bookshop 50,824 330 4,400 2,675 14.0(M) 13.000 150,8241 330 13021 2,675 14.000 13,000 14,7021 85.229 155,5261 29.703 TOTAL FUNDS 757.038 1709.5331 47.505 DESIGNATED FUNDS.. Capltal asset fund The capstal 05sel fund represents the fLX8d assels of the chafity. stock fund The stock lund 1$ to ensure the charity has the wDrkirYJ rapltal aVaila￿e to meet Ihe stock requirements of Ils shops and the prgss. BYG Deslgnated Developmentfund The BYG 08signaled Davelopmenl lund is to support the extensi￿ to the Bryn-y-groe$ ¢or*feren¢e centre. RESTRICTED FUNDS: SpÈ¢lfi¢ donati•n$ This fund r8pr8sents donatlons recelved for use by the bookshop. pr8ss, ¢onf8ren¢e centre or camps tt) which it was given. BYG Dovelopment fund This con51St5 of dona￿OnS 8Trd gits received to wowde an extensior to the 8ryn-y-gro8s con(grence centre. Aunt1* Be$sie camp Supportfund This fund is used io subsidise ¢amping trips for children ￿ ne8d. J E Dovie$ Iltswefs fund This fund eonsists ol donation$ and gifts received in liau of flow8rs on the death ol J E Davbs. a prior chaimian of Ihe Movoment. The donat￿n5 are to be used as spe¢ifled by the family of J E D￿￿e$. Llwybrau fund Thi5 fund coThsists of donations and glfts recelved to assist the ministy of Ltvrybrau - a Welsh language youth mag8zine foruJmmunl¢atino the Christign faith. Shtsws and Falrs Evang?Ilsm fiJnd The Abttryst¥Yyth Trailer Commrttee transferr8d the fvnds to ￿ used for *x)fk in $how$ ènd (al￿. Transfers be￿88n funds At the year end a transfer has been made lo bring lh8 ckjstng fund balance In Ilne the balarI￿ sheet value on both the stock anLI ¢apilal asset funds. Pag& 20 continu8d... EVANGELICAL MOVEMENT OF WALES NQTES TO THE FINANCIAL STATEMENTS- ¢ohtlnued FOR THE YEAR ENDED 30 SEPTEMBER 2023 EMPLOYEE BENEFIT OBLIGATIQNS The charity C￿￿￿UleS to indlvidual slakeholder pensicffjs. The assets of tho schemes a￿ held separately fr£Yn Ih0s8 of the ¢harily in independenly adrninisl8red lunds. The pension c05t charge represents contributions payable on behalf of the employees of the eharity and arnounled lo £2,77212022.. £2.8741. As at 30 Seplernber 2023 there were contributions outstanding of £Nil12022.. £Nill. 19. RELATED PARTY DISCLOSURES The follwng payment5 W8r8 made to trustees dwlng the year. In addllon to ony rglmbursement of expwses disck>5ed in notg 8.. 2023 2022 P Swann M Thomas speaker fees Speaker fees 105 145 75 Aggregate donatk)ns Irom trustee5 In the year arnounlett lo £2,14012022.. £2.3001. The Movement contro5s the Evangelical Movernenl of Wales Trust Limited due to 115 ability to approv8 the appointment of the Evangelical Movement of Wales Trust Limil6d's directors. Transactions be￿e￿n the two parti85 during th8 year were as follows.. Donations receivable from Evangelical Movement of Wales T¥ust Limited amounted to £1.86212022.. £3.0601. The arnounl outstanding al the year end wa$ £18112022.. £1621. The Movement shares trustees in comrnon with the Etnrnanuel Evangelical Church, ￿ Heath EvangÈli¢al Church, the Borras Park EvangelirrtHI Church, E￿wy5 El8n9￿81dd Gymraeg Caerdydd and Affinity. Transactions b8tween the partles during the year were as fomows.. Donations receivabl& from th8 Emmanuel Evangelical Church amounted to £949 12022.. £4001. Donation5 receivab￿ from the Heath Evangelical Church amounted lo £Nil12022.. £1,245). Dtsn2tion5 rereivable from the Borras Park Evangelical Church amounted to e2.026 12022.. £2.0301. Donations receivabl8 from the Eg Efen9ylaidd Gymraeg Caerdydd amounted to £355 12022.. £Nill During the year, professional fees of £16,86012022." £15.9441 were paid to Borras Park Evang81ical Church as a conlribulv)n towards the salary of M Thomas. The balance payable at year end was £1,46712022.' £Nill. During the year payments We￿ made lo Affinity. a donaton pay8ble of £1.200 12022.. £Nill. and speaker exp8nses £10012022.. £Nill Page 21