RECISTERED CHARITY NUMBER: 240088 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DE EMBER 2023 FOR THE HOLY FAMILY UKRAINIALY CATHOLIC PARCHY OF LONDON
THE HOLY FAMILY UKRAINIAN CATHOLIC EPARCHY OF LONDON CONTEINTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Pllge Report ofthe Trustees Statejnent of TTUStees' Respon5ibilitles Report of Éhe Independtnt Auditors 10 10 12 Statement of Financial Aetivitit5 13 Balance Sheet 14 Cash Flow Statement 15 Notes to the Cash Flow Statement 16 Note5 to the Financial Statements 17 to 23
THE HOLY FALIIILY UKRAINIAN CATHOLIC EPARCHY OF LONDON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 The tnte¢S PTesent their report with the financial statements of the charity for the year ended 31st Deccmber 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Stattmcnt of Recommended Practice applicable to charities preparing their account5 In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). AN INTRODUCTION FROM BISHOP KENNETH NOWAKOWSKI De2r Sisters and Brothers in Christ. Welcome to this 2023 ArU8] Report and Accounts for the Ukr&inian Catholic Eparchy (Diocese) of the Holy Family of London. I thank all who are pan of the life and work of our Church. in particular our v(>luDte¢rs who are quietly helping their neighbours and showing solidarity with the most wlnerable. I thank all who have composed this Report and its Financial eomponent, ¢spe¢ially parish clergy and their helpers for their financial oversight. and the staff of the Curial Olfices who have the difficult task of ensuring our compliance with regulatory requirements on which our ability to serve the public good depends. In the pages that follow, I hope you will gain insight and context into projects that have shaped our mission over the past year. May our shared journey of faith, hope, and love rernind all of us of our calling.. to be the Church in thts place. and at this time; for we are to be the light of the world and the salt of the earth (Matthew 5.13-16), proclaiming the Good News and offering love, hope, and healing to all. With the assurance of my prayers and blessirig. Yours Sincerely in Christ, + Kenneth Nowakowski- Bishop Eparch A BRIEF HISTORY OF THE EPARCHY Although the Uktainian Catholic Church in Great Britain was not fornially established as & separate eeclesiastical entity until 1957, its origins can be traced back much fih¢r. During and immediately after the Second World War d number of Ukrainiall priests served in Britain as military chaplains for Ukrainian Catholics in the Canadian arnied forces b2sed in the county, and in the Polish Armed Forces under British eornnydnd. The process of organising the UCC began during the large- seale influx of Ukrainians into the Country in the immediate post-war years. In November 1946. an Apostolic Visitator was appointed and in December 1947, the Roman Catholic hierarchy established a committee for the welfare of Catholic European Volwitsry Workers and Displaced People of various nationalities who were arriving in Britain. This committee provided alStart¢e in such matter5 as the admittance of Ukrainian priests to the country, attangements for visits by PTiests to catnps and hoste15 in which Ukrainians were living, and the use of Roman Catholic churches for Ukrainian services. On 10th lune 1957. the Holy See i&%UEd a Papal Decree on the establishtnent of the Apostolic Exar¢hate for Ukrainian Catholics in England and Wale5. Then, in March 1967, it Wds decreed that the jurisdiction of the Exar¢hate was extended to include Scotland {with effect from May 19681, and it was renamed the Apostolic Exaichate for Ukrainian Catholics in Qreat Britain. The UCC was elevated to eporchial staS (equivalent to diocesan statu5 in the Latin Church) on the 18th January 2013. On the 15th January 2020, the Holy Father, Pop¢ Francis, in conjunction with the decision of Éhe Episcopal Synod of the UGCC, appoint¢d Bishop Kenneth Nowakowski. fom)ally Bishop Eparch of New Westminster, a5 the fifth bishop for Ukrainians in the Unired Kingdom. Following Russia's full-5cal¢ invasion of Ukraine, Ukrainians are once again seeking rege in the United Kingdom. Now, as was immediately after WW2, we musi rise to the challenge of helping and supporting them. Page I
THE HOLY FALMILY UKRAINIALY EPARCHY OF LONDON THOLI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 OBJECTIVES AND ACTIVITIES The Charity's Objects The Declaration of the Tnjst included in the Trust Deed dated 10th August 1953 specifies that the property and other assets 0Med by the Charity should be used for "serving the spiritual nttds of the faithful of the Ukrainian Catholic Church in Great Britain." The Ukrainian Catholic Church IUCC) the UK operating through the Ukrainian Catholic Eparchy (Dio¢ese) of the Holy Family of London, is a registered charity with the Charity Commission in England and Wales. undei charity number 240088. The staled aim of our charity is 'the advancement of religion at the dis¢r¢tion of the bishop and his sueeessors in titl¢ or the he of th¢ Ukrainian Catholic Chur¢h in Great Britain." The pastoral oversight of the chariry is conducted by the Eparchial Bishop, an ex officio Trustee and Chair of the Trust, in regular consultation with his Advisory Council. This body assists the Eparch in all decisions affecting the lif¢ of the Eparchy. The Board of Trustees fiklfils the Canonical role of the Eparchial Finance Committee as set out in the requirements in the Code of Canons of the Eastern Churches. The Vicar General's Office, situated in the registered office, has a defined canonIcal role. The Vicar General, an ex oificio Trustee, is responsible for personnel issues relating to the clergy in the Eparchy. Appointments to parishes and other eparchial offices are made by the Eparch in onsultalion with his Council. The day-to-day legal and financial affairs of the Charity are administered from the registered offjce {known within the Eparchy as the "Curial Office" The centralised setvice5 of the Eparchy are known ollectively as the'curia"). Also based at the Registered Office is the Epar¢hial Tribunal. which deals mainly with marriage annulment petitions, and the office of the Chancellor who deals with other Canonical matters. The Council of Priests strives to rne¢t four times per year with the Epar¢hial Bishop to discuss and give advice on a wid¢ range of issues. The Council is composed ofall the clergy in active ministry in the UK. They have also beetl constituted os "The College of Consulters" to fulfil the legal requirements of Canon Law. At parish level, the paiish priest is responsible for all aspects of running hi5 parish. Each parish is required to hav¢ a parish council that meets at least four times a year {or more frequently if necessary) to support and advise the priesL particularly in the areas of finance and properry. A comprehensive manual of "Parish Financial and Administtaiion Guidelines" is issued by the Eparchy to paiishes. Furthermore, an "ad elerum" is issucd by the Eparchial bishop regularly through which policies are conununieated tts priests covering both liturgi¢allpastoral and. when require(L fin8Tla] ond administrative matters. The EpaTchy exists to serve the spiritual needs of the laithfi]l of the Ukrainisn Catholic Church in Great Britain. The ore avenues through which these ObjtIVeS are reali5ed include.. Provision of Religious and Pastoral Services: The Eparchy piovides vital religious and pastoral services to pari5he5 and missionary points, ensuring the Spiritual well-being of its congregants. Pastoral Care for Permanent Parishioners and Temporary Residents: We recognise the unique challenges IX)5ed by the recent influx of refugees from Ukraine due to the Russian invasion. In response, we have intensified our effort5 to provide pastoral care to both perrnanent parishioners and temporary residents. Our aim is to offer support to those in greater need. foster a sense of wn)munity, and address the spiritual and emotional needs of those affected by displacement. M2iDtenaThce of Churche5 and Presbyterie5: Ensuring the upkeep and availability of places of worship and residence for clergy is central to the Eparchy's mission. Clergy Support: The Eparchy is committed to the well-being of its el¢rgy, ensuring they have proper accommodations and means of existence. To that en¢L we have taken steps to becoming a Real Living Wage employer. Furthernjore, we provide financial assistance to the UGCC Synod of Bishops and its Governing Body to fi]rther the Church's ¥nission. Additionally, the Eparchy allocates fvnds to various religiou5 causes in Ukraine, igning with its Spirial mission. In all of the activities undertaken by the Eparchy, the trustees continue to be very grateful for the work done by so many people, both paid siaff and volunteer helpers. Without the help of so many people. the Eparchy could not cany out its important work of 5preadin8 the Good News of Jesu5 Christ. Page 2
THE HOLY FAMILY UKRAINIAN CATHOLIC EPARCHY OF LONDON REPORT OF TFIE TRUSTEES FOR TFIE YEAR EINDED 31ST DECEMBER 2023 ACHIEVEMENT AND PERFORMANCE Progres5 during the Year The central iole of the Church and Eparchy is the mission of the Chtistian Gospel. Thi$ take5 a number of different forll]s into a unified whole. It is "delivered" in a variety of ways. Over the pasi year. life iti the Eparehy has tontinued io be both exciting and challenging foT us all. Ther¢ have be¢n areas of significant gro1. We focused on achieving five Key Aims.. To become a more sustainable and resilient organisation. To grow our communities through prayer, worship, and action. To develop opportunities for personal, spiritual, and community growth. To strengthen our ¢ngagement with partners and stakeholders, and to deepen ecumenical dialogue through listening and collaboration. To rnaintain and improve our historic building5, spaccs, and collections. We are particularly proud of the new mission points we have established and maintained. Saleguarding Providing a safe ¢nvironment for all is the responsibility of every person employed or involved in the Eparchy. To that end. the Eparchy strives to ensure that it adheres to Pope Francis. prayer intention for Maich 2023.. "The Church cannot try to knde the tragedy of abuse of any kind. Nor when the abuse tEkes place in familie5, in ¢lub5, or in other types of institutions. The Church tnust serve as a model to help solve ihe issue and bring it to lighi in society and in families. The Church Must otyer safe spaces for victims to be heard, supported psychologically, and piolected." As such, the Eparchial Safeguarding Office provides ongoing support, advice, and guidance to all within the EpaTchy. This includes our clergy, employees, Parish Safeguarding Representatives (PSRI. and volunteers. By working in partnership, we ensure that the parishes and communities across the Eparchy are safe spaces for all and in particular for those that are vulnerable. The current message is that safeguarding is everyone's responsibility. By building safer envirotllnents- where everyone is empowered to raise concerns, ask for advice, or ke a disclosure - the safeguarding function of the Eparehy continues to Strengthen. We achieve this through a variety of different activities that aim to ensure that everyone has an understanding that Safeguarding is what we do to prevent harm. and Child and Adult Protection is the way we respond to harni. Both elenEnts have equal importance in the work of our Charity. To underscore our cornmitment, the Trustee5, SUPPQrted by the Eparchial Safeguarding Coordinator. volunteered the Eparchy for CSSA'S {the Catholic Safeguarding Standards Agency) pilot baseline audit progratnrne. This involved the Eparchls safeguarding function being evaluated against the eight rkew safeguarding standards. The Eparchy received an overall gradsng of Comprehensivc Assurance. The report noted "Safeguarding 15 Lntsinsic to the Epaichy's rninisty and practice, and the Eparchy has ¢ntsrd¢ed developments to national safeguarding procedure5 and standards. The Eparchy has made a clear commiknent to safeguardin& which is explicitly slated online and within the Eparchial Safeguarding Resource Pack- it is also demonstrated via the Eparchy's inVeSthnt in training oppottsnities and development of key policies and prOcees., The Epahy'S proactive ¢ngag¢ment with the CSSA, in seeking to jointly develop training and policy as well as volunteering to assist the pilot audit process. indicates a dedication to qwdlity assurance and continuous improvement. Furthernre. the Eparchy has displayed a desire io share best piactice acro&s the wider Ukrainian Greek Catholic Church, and sUPWrt other Church bodie5 in achieving the highest standards of safeguarding practice in a 'On¢ ChuTCh' approach. this is also seen in the way the Eparchy works with other Ukrainian organisations to lead their communities safely and with one voice" Page 3
THE HOLY FAMILY UKRAINIAN CATHOLIC EPARCHY OF Lo,DoN REPORT OF THE TRUSTEES FOR THE YEAR ELNDED 31ST DECEMBER 2023 OVERALL GIL4D1Tr4G FOR THE UKRAINLif4 CATHOLIC EPARCHY Cotnprehensive A55uranee Standard I Safeguarding is embedded in the Church bY'S leadership, Exemplary governance, ministry. and culture Communicaiing the Church's Safeguarding Message Engagsng with and Caring for those who report having been hamied Standard 4 Effective M8nagement of Allegations and Concerns Standard 5 Mawdgement and Support of Subjects of Allegations and ConceLlJS (respondents) Standard 6 Robust Human Resource Management Standard 7 Training and Support for Safeguarding Standard 8 Qlity Awuranee and Continuous lrnprovement Standaid 2 Standard 3 COPrehenSive Assurance Exemplary Exemplary Cornprehensive Assuran¢e Comprehensive Assurance Exemplary Results Being Achieved Based upon the reporfs findings the Epahla1 Safeguarding Office in collaboraiion with the Trustees, Sub-committee on SafeguaTding will develop an action plan titled 'Safeguarding Implementation Plan" to build on the positive outcome of the baseline (pilot) audit experience. Our target IS to be graded exemplary in all eight standards, not just four of them. We continue to learn and irnprove the Epar¢hy's safeguarding fijnction. To that end, key achievements in 2023 included.. Introduction of a new Safeguarding Training Plan for Clergy, employees, and volunteer5. Cornprehensive face-to- face training for clergy in active ministry. Collaboration with other charities and organisations to broaden learning oppottsnities Introduction of aarenesS days e.g., Mental Health Awareness Week, Anti-bullying Week, International Day for the EIiEnination of Violetjce against Women aTLd Gir15, World Elder Abuse Awareness Day etc. Building professional relationships with statutory agencies. 1000 DBL compliance amongsi clergy, Eparchial employee& and volunteers (as declared on Parish Volunteers lists subFnitted to the Eparchial Safeguarding Office). M5 M Matwijiwskyj - Safeguarding Officer Ukrainian Weleotne Centre The Ukrainian Welcome Centre (UWC) was co-founded by the Ukrainian Catholic Eparchy of the Holy Family of London and the Association of Ukrainians in Great Britain in March 2022 to help Ukrainians dssplaced by Russia's 11-scale invasion integrate into life in the UK and to provsde a safe space for Ukrainian5 to stay in touch with their heritage. UWC'S core activities include drop-in advice sessions with DLR, DWI, and Horne Office representative5, as well as Shelter. Gcntral consultations are regularly provided by staff and volunteers from diverse professional backgrounds. Services include English language courses. art for well-being classes. a mother and toddler playgroup. job search / CV writing workshops, psychological 5UPPOrt sessions, seniors, rneeting5, networkin8 events, foodbank referrals, and special children's events. By the end of 2023. the UWC provided support and help for ovei 6.000 individual cases. Page 4
THE HOLY FAMILY UKRAINIAP4 CATHOLIC EPARCHY OF LONDON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 FINALYCIAL REVIEW FinaDcRal p05itio It is my privilege to present the financial summary for the year ¢ndiDg 31 st DecembeT 2023 on behalf of The Holy Family Ukrainian Catholic Epaichy of London. This report provides a comprehensive overview of our fitfdncial perfomiance aNi highlights key areas of financial management, investment, and expenditure. Financial Overview For the year under review, the Eparchy denx)nstrated a strong financial position, with total income amounting io £1,451,336. This reflects a significant increase Èn donations and grants, especially in response to the ongoing erisis in Ukraine. which saw over £1.17 million allocated to special Causes. Total expenditure reached £l,M6.535. leaving a net Sutplus of £104,801. This positive financial outcome has been driven primaTily by prudent financial management and focused fundraising efforts. ensuring the sUStain&bility of our religious, pastordl. and charitable Services. Income and Fundraising The rnajority of our income wa5 derived frorn donation5 and legacie5 (£1,336,490), reflect&ng the ongoing generosity and cornmitment of our benefactors. Additional income from investments and investment properties contributed £113.646. which fiber slrengihens the financial foundation of the Eparchy. While our rental income from investment properties remains a valuable source of nds, we continue to seek ways to diversify and grow our revenue St[ean in aligntyknt with our long-tenn strategic goals. Expenditure and Charitable AetKvities Our expenditure is aligned with the core mission of the Eparchy, prioritlsing clergy suppor¢ parish services, and charitable activities. A total of £548,494 was dedicated to parish and area support services. ensuring the provision of religious and pasioral care across our communities. Property maintenance and clergy housiftg expenses amounted to £346,277, reflecting our commitment to maintaining the integrity of our ehureh buildings and providing adequate accomrnodatigns for our clergy. In response lo the increasing needs of Ukrainian yege¢S the Ukrainian Welcome Centre played a pivotal role in offeTing pastoral care and community support. The Centre's running costs totalled £227,128, with £224,533 allocated directly to SUPPOrting these efforts. Inyestments and Asset ivlanagement The Eparchy rnaintain5 a substantial portfolio of fixed assets, which totalled £2,926,964 at the end of 2023. Key invcstments in tangible fixed asset5, including ecclesi8Stical properties, were made to support our pastoral mission and ensure the long-temi susiainability of our facilities. Propety-related expenditure remains a significarlt aspect of our financial planning, and we anticipate ongoing investrnent in maintaining and upgrading our buildings in the coming years. Future Outlook Looking ahead, the Eparchy remains committed to delivering on its spirittjal and p05tOTal mission while ensuring sound financial stewardship. Key priorities include securing future filling for property maintenance, nurturing vocations to th¢ priesthood, 2nd continuing to provide essential support to the Ukrainian regee community. We alw foresee the need for further evaluations of our propety holdings, with potential downsizing 2nd thptation stTat¢gies to ensvre that we remain flexible and responsive to the evolving needs of our congregations. As always, the Finance Office will continue to work diligently to manage resources effectively, ensuring transparency and accountability in all financial matters. We remain grateful for the continued generosity of our donors and the hard woAc of our clergy and volunteers in helping to deliver on the Epaichvs mission. Very Rev Fr David J Senyk- Finance Officer Page 5
THE HOLY FAMILY UKRAINIAN CATHOLIC EPARCHY OF LONDON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 FUTURE COMMITMENTS As we look ahead, our organisation is committed to continuing and deVelOpll its services in alignrnent with evolving time5 and circumstances. Key priorities include". Voeat10115 to the Prffte5thood: Encouraging and nurturing vocations to the priesthwd remains ll ¢ornerstone for the Eparchy's success. Cutreni efforts include the training of two seminarians for the priesthood and one Candidate to ihe diaeonate. Pollcy Evaluation: A eOT]sultation and review process 15 underway. assessing policies and procedures within th¢ harity. Property Malntenanee: Given the substantial property assets held by the charity, ongoing investment in property maintenance is essential to ensure pastoral work continues effectively. M2ny of the churches in the Eparchy are listed buildings and this gives rise to additional responsibilities. Despite the ownership by the Epaichy of substantial property assets, the reality is that this custody attracts a continuous ongoing responsibility and liability. The care and maintenance of the Charity's properties is a heavy burden since we are required to maintain them to a high Standard. We envisage that foi years to come property Maintenance will ealate and funds for this will have to be raised otherwise the buildings will deteriorate. DolvsIZ]ng and AdaptatlOD: We anti¢ipote potential downsizing of assets in response to changing congregations or, in certain cases, a return to the we of Roman Catholic Churches STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is contTolled by its governing docurnent, a deed of tTU5t and constitutes an unincorporated chariry. Charity CODstitution The Ukrainian Catholic Eparchy of the Holy Family of London is a charitable trust established by a trust deed datd 10th August 1953 and is reStered under the Charities Act 1993, Charity Registration No. 240088. The charity uses both the Ukrainian Catholie Church and the Eparchy of the Holy Family of London as working names. Orggnisation The charity Is overseen by a Board of Directors of th¢ Trust, which convenes regularly to address financial, property, legal, and administrative matters conceming the Eparchy. Additionally, the Eparchy's parishes operate under the Church's Code of Eastern Canon Law and are bound by the Canon5 of the Particular Law of the Ukrainian Greek Caiholic Church. Administrative And Advisory Bodles The Epatchy maintains key adrninistrative and advisory bodies in acc(Trrdance with Canon Law. including the Eparchial Financial Council and the Presbyteral Council. These bodies provide essential advice and support to the Bishop in matter5 related to finance, administration. and important Eparchial affaiis. Page 6
THE HOLY FAMIL Y UKRAINIAN CATHOLIC EPARCHY OF LONDO REPORT OF THE TRUSTEES FOR TIIE YEAR ENDED 31SI' DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Direetors of the Charity The charity is oveT5een by a Board of Diiectors of the TrusL which convenes regularly to address financiol, property, legal. and administrative matters concerning the Eparchy. The affairs of the charity ate govetned by the trustees. who are recruited from the senior clergy and suitably qualified and experienced lay faithful of the Eparchy. New trustees are intToduc¢d to their role 2nd responsibililies by the Secretary of the Trust at which time relevant Charity Cominissjori liteTature is issu¢d together with copies of the trust deed and the latest financial inforniation is made available. As and when required. ttustees attend fornial and infortnal training sessions. The trustees nomvdlly hold meetings on a quarterly basis to conduct the operations of the Charity including reviewing Sub-committees. aDd the impletskntation of policies. The Directors of the Charity (Trustees) are 2pp)inted by the Bishop. Trustees do not receive any remuneration, payments, or benefIts in connection with their duties as Trustees_ Trustees, who are serving MeberS of the clergy, receive a monthly stipend payment, consistent with all serving clergy members ofthe Eparchy. The Office of the Vicar General and the Offjce of Eparchial Finance Officer play vital roles in implementing directives and overseeing financial operations, respectively and report to the Trustees of the charity on a regular basis. Additionally, the Eparchls parishes opeiate under the Church's Code of Eastem Canon law and ar¢ bound by the Canons of the Parti¢ular Law of the Ukrainian Greek Catholic Church. Scope ol the Accounts The a¢¢ounts include assets, liabilities and transactio of the following.. Curial Fund5 The Curial fid$ are used to support the Bishop in providing Eparchial services and pastoral caTe and to Meet the cost of ¢entral administration. The Curial fid5 are administered by staff within the Cuiial {or Central) offic in the Cathedral Complex. Parochial Funds The Parochial fi]nds are administered, with guidance from the Central Finance OtTice. by the parish priests and are u5 to carry out the work of the Church within local areas. Ukrainian Cathedral of the Hol Famil A wholly omied subsidiary carying out aetivities which relate to the Cathedral, whose objective it is to generate profit for the benefit of the Cathedral parish as well as to support the Eparch. CONCLUDING REMARKS We hope that this report highlights what we have accomplished in 2023, draws a light on what we still hope to accomplish, and explains why oui work throughout the UK is $0 important not jiist to Ukrainians but to the wider ¢ommunity. The Eparchy is dependent on voluntary donations and you Can a real difference by supporting one or more of the following activities, besides your parish.. Support for displaced Ukrainians The car¢ of Sick and elderly priests The training of new priests (seminarians fijnd) Evangelisation and catechesis The inclusion of all people in the life of the Church The Holy Family Fund (to support body repatriation to Ukraine) Work with young people Preserving church buildings Page 7
THE HOLY FAMILY UKRAINIAN CATHOLIC EPARCHY OF LOIYDON REPORI. OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number 240088 Principal address Ukrainian Catholic Eparchy Chancery Office 21-22 Binney Street London WIK5BQ Trustees Right Rev K Bishop Nowakowski Very Rev Fr M Matwijiwskyj MBE Rev T Khomych Mr F Kurlak MBE Ms l Terlecky MBE Rev M Woodruff Dr P Kormylo College of Consultors Vcry Rev Fr M Matwijiwskyj MBE - ViraT General Rev Fr M Malysh - Chancellor Very Rev Fr D J Senyk- Finance Officer & Payroll Very Rev Fr V Fedun- Judicial Vicar Key Personnel Very Rev Fr M Matwijiwskyj MBE- Vicar General Rey Fr A Malysh- Chancellor Vcry Rev Fr D. J. Senyk- Finance Officer & Payroll Ms M Matwijiwskyj - Safeguarding Very Rev V Fedun- Judicial Vicar Auditors Sproull & Co. Chartered Accountants Statutory Auditors First Floor, Jebsen Hou5¢ 53*1 High Street Ruislip Middlesex HA4 7BD Approved by order of the board of trustees on 22nd October 2024 aThJ signed on its b¢h21f by.. Right Rev K Bishop Nowakowski- Ttusttt Page 8
THE HOLY FAMILY UKEL4INIAN CATHOLIC EPARCHY OF LONDON STATEI¥IENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31ST DECEMBER 2023 The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢¢epted Accounting Practice)- The law applicable to charities in England and Wales, the Charities Aet 2011, Charity (Accounts and Rew)rtsl Regulations 21K)8 and the provision5 of the trust deed requires the trllstees to prepare financial statements for each fiDancial year which give a true and fair view of the stste of affairs of the Chwity and of the incoming resources and application of resour¢e5, Including the income and expenditure, of the charity for that period. In preparing those financial stsiement&, the trustees are required to select suitable accounting policies and then apply them con5lStently' observe the merhods and principles in the Charity SORP: make judgements and estimates that are reason2ble and prudent; state whether applieable accounting standards have E¢en follow¢d. subject to any material depaTe5 disclosed and explained in the financial statements. Ptepare the financial statements on the going concern basis unle&s it is inappropiiate to presume that the charity will continue in busines5. The trustees are responsible for keeping piopei accounting Tecords which disclose Wlth reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial stateTnent5 Cotnply with the CharitlES Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the chariry and hence for tsking reasonable steps for the prevention and detection of fraud and oiher irregulaiities. Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE HOLY FAINIILY UKRAINIAN CATHOLIC EPARCHY OF LONDON Opinion Wt have audited the financial statement5 of The Holy Family Ukrninian Catholic Eparchy of London (the 'charity) for the year ended 31st December 2023 which comprise the Statement of Financial Activitie5, the Balance Sheet. the Cash Flow Staiement and notes to the financial statetnents, including a summary of significant accounting policies. The financial reporting frarnework that has been applied in their preparalion is applicable law and United Kingdom Accounting Standard5 (United Kingdorn Generally Accepted Accounting Practice). In our opinion the financial statements.. give a tsue and fail view of the state of the charitS affairs as at 31st December 2023 and of its incoming resources a1 application of resources, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted A¢¢ounting Practice,. and have been prepared in accordance with the requir¢m¢nts of the Charities Act 2011. Basis for opinion We conducied our audit in accordance with International Standards on Auditing (UK) (ISAS {UK)} and applicable law. Our responsibilities under those standards are further described in the AuditOTS' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the fsnancial statetnent5 Iri the UK, including the FRC'S Ethical Standard, and we have fjjlfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusion5 relating to going concer In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appiopriate. Based on the work we have perfornied, hav¢ not identified any material uncet1ainties relating to ev¢nts- or conditlons that, individually or coll¢¢tively, may cast significant doubt on the chatity's ability to continue as a going concern for period of at least twelve months from when the f]nancial statements are authori5ed for i&sue. Out iespot]sibilities and the responsibilities of th¢ tTUStees with respect to going concem are described in the relevant sections of this report. Other Informatlon The tntstees tre responsible for the other inforniation. The other information comprises the infomation included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statement5 does not oover the other inforniation and, except to the extent otheNrise explicitly stated in our report, we do not express any forni of assurance conclusion thereon. In connection with our audit of the flnancial statements, our responsibility is to read the other infom)ation anLt in doing 50, consider whether the other inforniation is materially inconsisient with the financial staternent5 or OUT knowledge obtained in the audit or otherwise appears to be materially misstated. If we idenlify such llterial inconsistencies or apparent material mi5Statetnents, we are required to (kterrnine whether this gives rise to a material misstatement ID the financial statements themselves. If, based on the work we have performed. we ¢on¢lude (hat there is a material misstatement of this other infomution, we are required to report that fact. We have nothing to report sn thi5 regard. Matters which we are required to report by exception We have nothing to report in re5pe¢t of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to rewTrn to you if, in our opinion.. the infornjation given in the R¢port of the Trustees is inconsistent in any material respect with the financial statements; or sulficient accounting records have not been kept-, or the financial statcments are not in agreement with the accounting records and rthrns. or we have not Teceived all the inforntIOn and explanations we iequjre for our audit. Page 10
REPORTOF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE HOLY FAMILY UKRAINIAIY CATHOLIC EPARCHY OP LONDON Re5ponsibilitie5 of trustees As explained mole fully in the Statement of Trustees. Responsibilities, the trustees are responsibl¢ for the prcparation of the financial statements which give a true and fail view, and tor such internal control as the tntstees deternine is necessary to enable the preparation of financial statements that are free frorn tnaterial mi5Statement. whethei due to fraud or error. In preparing the financial statement5, the trustee5 are responsible for assessing the charity's ability to continue as a going concem, disclosing. as applicable. matiers related to going concern and using the going concern basis of accounting unless the uustees either intend to liquidate ihe charity or to ¢ea5e operations, or haye no realistic alternative but to do so. Our responslbllltles for the audlt of the tlnanclal statement5 We have been appointed as auditors under Section 144 of the Charities Aci 2011 and report in accordanc£ with the Act and relevant regulations rnade or having effect thereunder. Our objectives are to obtain reasonable assiirance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors thai includes our opinion. Reasonable assurance is a high level of aSSianCe, but is not a guarantee that an audit conducted in aceoidance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise frorn fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence th¢ econornic decision5 of users taken on the basis of these financial statetnents. The extent to which our procedures are capable of detecting irregularities, including fraud 15 detailed below.. Based on our understanding of the ¢harity and the sector in which it operates, we identified the principle risks of non-compliance with laws and regulations related to the applicatjOD of charitable funds. We also considered those laws and regulations which have a direct impaci on ihe preparation of the financial statements such as th¢ Charities SORP {FRS 102). Through enquiry of management we gained an understanding of their relevant laws and regul&tion5. the entiws policies al procedures regarding compliance" and how they identify, evaluate and account for litigation claims. We understand that the charity complies with the fratnewoik through having in place iobust procedures and policies and by outsourcing aTNI taking external professional legal, tax and aceounting advice on relevant specialist fimctions and areas. The senior statutory auditor led a discussion with all members of the engagement team regarding the susceptibility of the haritys financial statements tt) material misstaten*nt, including how fraud might occur. The areas identified in this discussion were.. Manipulation or error in the classification of income leading to the under or overstatement of unrestricted or restricted funds. Manipulation or error in the use of funds leading to expenditure which i5 riot in accordance with the charitable objectives. The procedures we carried out to gain sufficient appropriate audit evidence in the above areas included.. Identify and assess the risks of rnaterial tnisstatement of the financial statements, whether due to fraud or eryor, design and perfom) audit procedures T¢5ponsive to those risks, and obtsin audit evidence that is sufficieni and appropriate to provide a basis for our opinion. The risk of not d¢te¢ting a mat¢rial misstatement resulting from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery, intentional omission5, misrepresentations. OT the overrid¢ of internal control. Obtain an understanding of intemal conttol relevant to the audit in order to d¢sign audit pro¢edur¢s that are appropriate in the circumstances, but not for the PLtrpose of expressing an opinion of the effectiveness of the charitable internal Control. Evaluate the appTopriateness of accounting policies used and the rea50nableness of a¢wunting estimAtes and related disclosures made by the directors. Page 11
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE HOLY FAMILY UKRAINIAN CATHOLIC EPARCHY OF LONDOI Identifying and testing journal entri¢5. Evaluate the overall piesentation. structure and content of the financial statement5, jDcluding the disclosures, and whether the financial stattrnents represent the undeilying transactions and events in a manner that achieves fair presentation. A further d¢scription of ow responsibilities for the audit of the financial statements is located on the Financial Reporting Council's web5jte at www.frc.org.uk/auditorsresponsibililies. This description fornis part of our Report of the Independent Auditors. Use of our report This rewrt is made solely to the charity's trustees, a5 a body, in accordance with Part 4 of the Charities (Accounts and ReEK)rts) Regulations 2008. Our audit work has been undertaken so that we Might state to the charity's trustees those matters we are required to State to them in an auditors, report and for no other purpose. To the fvllest extent pern)itt¢d by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit woik, for this report. or for the opinions we have forn¢d. prou1/ & eo. Sproull & Co. Chartered Awountan¢5 Statuiory Auditors First Floor, Jeb5en House 53-61 High Street Ruislip Middlesex HA4 7BD 24th October 2024 Page 12
THE HOLY FAIMILY UKRAINIAN CATHOLIC EPARCHY OF LONDON STATEIMENTOF FINANCIAL AcfiviTIES FOR TFIE YEAR ELN'DED 31ST DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted fund5 Restricted funds Notes INCOME ATr4D ENDOWMENTS FROM Donations and legacies 1,134.628 201.862 lJ36,490 1,120,757 Other trading a¢tivities Investment income Other income 1,200 113,196 1.200 113,646 10.255 107,463 24.083 450 T•tal 1.249.024 202,312 1,451 J36 1.262,558 LYPENDITURE ON Raising fidS 27,206 27,206 21,282 Charitable activities Fundtaising activities Parish and Area 8UPPOrt services Clergy housing and property costs Grants and donations Ecclesiastical supplies Ukrainian Welcome Centre 548.494 346,277 131,203 66,227 2.595 548.494 346,277 131.203 66227 227.128 322,353 296,311 56.971 21,090 103,414 224.533 Total 1,122,002 224,533 1.346535 821.421 r+lET INCOMEI(EXPENDITURE) 127,Ib22 (22,221) lo401 441,137 RECONCILIATION OF FUNDS Total fillKIs brought forwdrd 3,363,S05 174.970 3.538.475 3.097.338 TOTAL FUNDS CARRIED FORWARD 3,490,527 152,749 3,643,276 3.538,475 The notes forn) part of these financial statements Page 13
THE HOLY FAMILY UKRAINIAN CATHOLIC EPARCHY OF LONDON BALANCE SIIEET 31ST DECENIBER 2023 2023 Total funds 2022 Total funds Unrestricted funds Restricted fund5 Notes FIXED ASSETS Tangible assets InvestTnent property 1105,886 806.116 14.962 2.120,848 806,116 350,592 2,333,653 12 1912,002 14,962 2,926,964 2,684,245 CURRENT ASSETS Debtor5 Investrnents Cash at bank 13 14 5,595 274 638,911 5,595 274 776,698 1,250 274 912,580 137,787 644,780 137,787 782,567 914,104 CREDITORS Amounts falling due within one year 15 (66,255) (00,255) (59.874) NET CURRENT A&SETS 57&525 137.787 716,312 854,230 TOTAL ASSETS LESS CURRENT LIABILITIES 3,490,S27 152,749 3,643,276 3.538,475 NET ASSETS 3,490,527 152,749 3,643.276 3,538,475 FUNDS Unrestricted fidS Restricted funds 17 3,490,527 152.749 3,363.505 174,970 TOTAL FUNDS 3.643.276 3,538,475 The financial statements were approved by the Board of Trustees and authorised for issue on 22nd October 2024 and were signed on its behalf by.. ad2. Right Rev K Bishop Nowakowski- Trustee The not¢s fonn part of th¢se financial statements Page 14
THE HOLY FAMILY UKIL41NIAN CATHOLIC EPARCHY OF LONDON CASH FLOW STATEIMENT FOR THE YEAR ENDLD Jis"r DECEMBER 2023 2023 2022 Notes Cash flows from operatlng aetlvltles Cash generated from operations (6.129) 355,523 Net cash (used inllprovided by operating activitie5 (6,129) 355.523 Cash tlows from investing activities Purchase of tangible fixed a55ets Purchase of investment property Sale of investment ptoperty Inierest received Dividend5 received Rents received {238,0431 (5,7541 398 1.771 (113,828} 236 6,997 100,230 111.87$ Net cash used in investing activities (129,753) {6,365) Change in cash and cash equivalents in the reporting period Cash and ea5h equivalents at the b¢ginDing of the reporting period (135.8821 349,158 912,580 563,422 Cash #Dd cash equlvalents at the end of the reporting ptriod 776.698 912,580 The notes forni part of thes¢ fiEhancial siatemenis Pag¢ 15
THE HOLY FAMILY UKRAINIAN CATHOLI EPARCIIY OF LONDON NOTES TO THE CASH FLOW STATEMENr FOR"fHE YEAR ENDED 31ST DECEt*lBER 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net incotne for the reporting perlod (as per the Statement •[Financial ActAvltles) Adjustments for: Depreciation ¢haTg¢s Interest received Dividends received Social investments written off Rents received Increase irt debtors Increase in creditors 104,801 441,137 680 (1,771) (236) (6.997) 5,532 {100.230) {1,250} 17,567 (111,875) (4,345) 6.381 Net Cash (used inyprovlded by operatAons (6.129) 355,523 ANALYSIS OF CHANGES IN NET FUNDS At 1.1.23 Cash tlo At 31.12.23 Net ea5h Cash at bank 912,580 (135.882) 776.698 912,580 (135.882) 776.698 tiqllid resources Deposits included in cash cUent asset investtnents 274 274 274 274 Debt Debts falling due within l year (34,610) 9,610 (25,0110) {34,610) 9,610 {25,000) Total 878,244 (126,272) 751,972 The notes fom part of these fitfdncial statements Pag¢ 16
THE HOLY FAMILY UKIL41F41AN CATHOLIC EPARCHY OF LONDON NOTES TO THE f4lNANCIAL STATEMENTS FOR'fHE YEAR ENDED 31ST DECEMBER 2023 ACCOUF4TITrIG POLICIES Basis of preparing the financial statements The firn¢la1 statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102) 'Aecgunting aNi Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effe¢iive l January 20191,. Finaneial Reporting Standard 102 'The Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland, and the Charities A¢t 2011. The financial statements have been prepared under the historical ¢ost convention. The financial statements are prepared in sterling which is th¢ fiLnctiorh&l currency of the company. Income All income is recognised in the Statement of Financial Activitie5 once the charity has entitlement to the fimd5, it 15 probable that the income will be received and th¢ amount can be measured reliably. Expenditure Liabilitits are recognised as expenditure a5 soon as there is a legal or constructive obligation committing the charity to thal expenditure. it is probable that a traDsfer of economic benefits will be required in bettlement and the amount of the obligation can be measuted reliably. Expenditure is accounted for on an accruals basis and has been clas55fied under heading5 that ag8Tegate all cost related to the category. Where costs cat)not be directly attributed to particular h¢adings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed a$$ets Land and property is recorded at open market value. Ecclesiastical Fixtures and Fittings are deemed to have a residual value of at lesst their original historie cost, so depreciation is considered imnydterial. General FiXreS and Fittings are written off to the Income ajbj EXpendire account in the year in which they are acquired. Plant and Machinery are depreciated at 200/0 reducing balance basis. Enve5tment property Investment propety is shown at most recent valuation. Any aggregate sUlUS or deficit arising from changes in fair value is iecognised irt the Statement of Financial Activities. Taxation The charity is exernpt from tax on its charitsble activities. Fund accounting Unr¢strieted funds ean be used in aceordanee with th¢ charitabl¢ obj¢¢tiv¢s at th¢ di$tT¢tion of the trustees. Restricted fimds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donoT or when funds are rdised for particular restricted purposes. Pension Costs and other post-retirement benefits The charity operates a defined contr2bution pension scheme. Contributions payable to the charity's petLsion scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 17
THE HOLY FAMILY UKRAINIAN CATHOLIC EPARCHY OF LONDON NOTES TO THE FINANCIAL STATEI¥IEINTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023 DONATIONS AND LEGACIES 2023 2022 Donatio and gtanls Special causes 161,155 1.175,335 110.731 1,010,026 1,336,490 1,120,757 OTHER TIIADING ACTIVITIES 2023 2022 Services prtsvided 1,21)0 10.255 INVESTMENT INCOME 2023 2022 Rents received Dividends receivable Deposit ac¢ouni interest 111,875 100,230 6.997 236 1,771 113,646 107,463 OTHER INCOME 2023 2022 Insurance in¢orne 24.083 K4tSlNG FUNDS Other trading #etivltle$ 2023 2022 Impairn)ent losses 5,532 Investment managernent eost$ 2023 2022 Investment property repairs and maintenance Support costs 27,206 15,098 652 27,206 15.750 Aggregate omounts 27,206 21.282 Page 18
THE HOLY FAMILY UKRAINIAN CATHOLIC EPARCHY OF LONDON NOTES TO THE FINAN'CIAL STATEME.NTS- continued FOR THE YEAR ENDED 31ST DECELMBER 2023 CHARITABLE ACTIVITIES COSTS Support costs15ee note 8) Dlrect Costs Totals Paiish and Area support service5 Clergy housing and property costs Grants and donations Ecclesiastical supplies Ukrainian Welcome Centre 449,188 346.277 131,203 66.127 224,533 99,306 548,494 346,277 13I,203 66.227 227,128 2,595 1,217,428 101.901 lJ19,329 SUPPORT COSTS GoverD#nee costs M&nagernent Finance Totals Parish and Area support services Ukrainian Wel¢ome Centre 80,853 5.088 13.365 2,595 99.3116 2,595 80,8S3 5,088 15,960 101,901 TRUSTEES, REMUTrIERATION AND BENEFITS 2023 2022 Tntee5, salaries TTUStees' social secwity Trustees, pension contributlons to money purchase schemes 55.884 5,118 642 42,620 3,148 372 61,644 46,140 Trustees, expenses WheTe trustees are a150 clergy of the Eparchy, they are remLtherated by the Eparchy and are reiTnbursed expens¢5 for carrying out theii ministry in the sam¢ way as Other clergy of the Eparchy. During the year. three tn15tees received reimbutsemeni of expenses totalling £8,54312022 £10,545). The vast Tnajority of these expenses related to working expenses. such as travel and subsistence costs, in relation to their duties as clergy, Tather than as expenses incurred specifically in relation to their role as tllte¢s. Page 19
THE HOLY FAMILY UKRAINIAN CATH ARCHY OF LONDON LI NOTES TO TFIE FINANCIAL STATEMENTS - eoRtinued FOR THE YEAR ENDED 31ST DECEMBER 2023 io. STAFF COSTS 2023 2022 Wages and salaries Social security costs Other pension costs 535.151 41.273 9.137 304,383 14,818 3.949 585.561 323.150 The average monthly number of employees during the year was as follows". 2023 16 2022 Catholic Eparchy Tru5t¢e5 Welcome CentTe 29 20 No employees received eTDoluments in excess of £60,000. ii. TANGIBLE FIXED ASSETS Fixtures Frechold Improvements property to property Plant and machineTy fitting5 Totals COST At 1st January 2023 Additions 1,404,663 242.058 230,036 236,764 3,927 1,883,485 238,043 4,080 At 3 1st December 2023 1.404.663 472.1194 4.080 240.691 2.121.528 DEPRICIATION Charge for year 680 680 NET BOOK VALUE At 3 1st December 2023 1,404,663 472,1194 3,400 240,691 2,120,848 At 31st December 2022 1.404,663 242,058 236,764 1,883.485 In prior years land and property and fixtures and fittings had been included at historic cost and were not depreciated. In 2019 certain propertieb were profe55ionally revalued in order to tnore properly refjeet their current open rnarket value. Thi5 resulted in a gain on revaluation amounting to £977,150. A further detailed review gf all property costs was undertaken in 2020, which r¢5uli¢d in a fvrther adjustment of £22.939 arising from the reallocation of expenditure incurred in 2019 from house and church maintenance to the cost of land and property and bank accounts. In 2023, the allocation of the charity's properties as Freehold Property, Improvements to Property or Investment Property was reconsidered. A5 2 result, £1,532,893 of properties previously classified as Investment Propety have been re-presented as Freehold Property {£1,404,663) and Improvements to Property1£128.230). This has been reflected in the broughr forward figures as at 1st January 2023 in both Tangible Fixed A&8ets and Investrn¢nt Property. PÈge 20
THE HOLY FAMILY UKRAINIAN CATHOLIC EPARCHY OF LOLYDON NOTES TO THF. FINANCIAL STATELIIEYL TS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023 12. INVESTMENT PROPERTY FAIR VALUE At 1st January 2023 Additions Disposals 800,760 5,754 (398) At 3 1st December 2023 806,116 NET BOOK VALUE At 3 1st tkcetnbei 2023 80fj116 At 3 1st December 2022 800,760 Please see not¢ I I regarding the re-presentation of properties Previo5]Y allocatcd a5 Inve5ttnent Property. 13. DEBTORS: AMOUNTS FALLING DUE WITHILY OLNE YEAR 2023 2022 Other debtors Prepayments and accrued income 4J95 1,200 1,250 5,595 1,250 14. CURRENT ASSET IIYVESTMENTS 2023 2(b22 Bond deposits 274 274 15. CREDITORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR 2023 2022 Taxation and social Surity Other creditors 8,588 57,667 9.032 50.842 66.255 59,874 Page21
THE HOLY FAMILY UKIL41NIAN CATHOLIC EPARCHY OF LODON Tr40TES TO THE FINANCIAL STATEMENfs - continued FOR THE YEAR ENDED 31ST DECEt*IBER 2023 16. LOANS An analysis of the maturity of loans i5 given below.. 2023 2022 Amounts falling due within one year on denTrnd.. Other loans 25.000 34.610 17. MOVEMENT IN FUNDS LN'et movement in funds At 31.12.23 At A.A.23 Unrestricted funds GeneTal fund Revaluation reserye 2,402,355 961,150 127,022 2,529.377 961,150 3,363,505 127,022 3,4.527 Restrlcted funds Ukrainian Welcome Centre 174,970 (22,221) 152.749 TOTAL FUNDS 3,S38,475 104,801 3,643.276 Net rnov¢ment in fi]nds, included in the above are as follows.. Incoming resources Resources expended ovement in lunds UDre5trieted funds General fund 1.249.024 (1,122.002) 127,022 Restricted funds Ukrainian Welcome Centre 202J12 (224.533) (22,221) TOTAL FUNDS 1,451,336 (lJ46,535) 104.801 Page 22
THE HOLY FALIlLy UKRAINIIIN ARCHY OF LONDON ATH LI NOTES TO TFIE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2023 17. MOVEMENT IN FUNDS- continued Comparatives for movement IA funds Net movement In funds At 31.12.22 At 1.1.22 Unrestricted funds General fund Revaluation reserve 2,136,188 961,150 266,167 2,402,355 961,150 3.097,J38 266.167 3,363,505 Restrieted fund5 Ukrainian Welcorne Centre 174,970 174,970 TOTAL FUNDS 3,097,338 441,137 3,538,475 CoEnparative net rnvement sn fi]nds, included in the above are as follows.. IneominE resources Resouree5 expended Movement in funds Unrestrleted funds Generdl fund 990,018 (723,8511 266,167 Restrlcted lunds Ukrainian Welcome Centre 272,540 (97,5701 174,970 TOTAL FUNDS 1,262,558 1821,4211 441,137 18. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 3 1st December 2023. Page 23