THE BRITISH PROVINCE OF THE UNITAS FRATRUM operating as THE MOR_A.VIAN CHURCH Charity Number 251211 FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Page I R THE YEAR END The trustees of the Mordvian Church Fyesent thelr rekM)rt and the cons￿&￿ated finar￿la1 staterr*nts for the year ended 31 August 2023 of the tharity. the Moravian Church (The British provin￿ of the Unitas Fratrum), which cOr￿oI*￿ate the and rt assets of Church, Its c￿r￿]ationS, its subs￿[ary tharitaNe companies (The Moravban Unlon (IncOr￿￿oted) and FUIr￿Ck SdKYJI, and FulneLk I￿1r House. These have teen prepared In the format requi￿ by the Ststement of RecoMmeTh￿d Practi￿, 'PLcoJntiThJ a￿1 ReFXJtiThJ by Charities, applKable to charities wepariro th￿r ￿COUnts in aCC￿dan￿ wlth the Flnancial Reporting Stsndard applkable In the UK and Republlc of I￿land (FRS 102). The report and statemerts akn comtty wlth tre Charttles Act 2011 and regulatlorts made thereurthler. LEGAL AND ADMINISTRATIVE DEfAILS.. Br￿sh ProvIn￿ of the Un1ts5 Fratrum, generalty kncyrtn a5 ￿'mOravIan Church,, whlch was estsbllshed by Act of Parllament In 1749, is a regtstered charlty, No. 251211. The Church Is governed by a Bcok of Order as pproved by Provincial Syncxl which cO￿sts of a blennkl gatherlng of the provlncLal ty)ard, the clergy, one representstfve from each corrfjregatbn per iffie hUrtd￿ and fifty rwnters and ex-offtio as per the Eook of Order. The Commlttee of Managemert, ￿ are tr* trustees crf the charity (a￿1 dire£tots In ctmnpary law of the subsldiary charftsble companles), are elected by Syncars. Penslons Followlng changes to leglslath)n, the prevsous dEsuetknary penslon abTaroements for mlnisters In servke pdor to 31 ALKJUSt 2010 have rep*ced by a ￿er1￿j contrfbuti)n pensh)n scheme. Thls came into effert from I January 2016. The reccgnlsed tfre hlstoric ￿nSh)n obllpuon of The ￿ravIan Unlon up to 31 De￿mber 2015. The most recent a(knarbal valuatk)n of the Fension Ilabillty was completed on 29 Aprll 2024 and calcuL3ted the Ilablllty to be £2,946,467 a5 at 31 August 2023 comFored to a Ilablltty of £3,564,559 as at 31 August 2022. All Ministers have been inforn￿d of their entlvernert Other Mlnlsters and empk)yees employed after 31 August 2010 hokl defined c￿trIbutIon pr50Thil pe￿iDn rAans a)ntrI￿te at rdtes ty t￿msefve$. OBJEcfs AND ACllVITIES Prfnclpal ObJectlve• The Church's objectfve Is to &Ymlnl#w the affalrs cl tr* fvtsyavlan Church In Sts V￿rk for the Klrydcffi of God, In accordan￿ wtth the wlll of Syr￿. Actlvltles The parent charW5 actriit*s c(Thist rf. (i) Ensurfng a suppty of mlnlsters to congregath)r6. ProvhJlThJ congregatlons wSth ad￿￿ on ccxnptylryJ wtth best prartke under chlld prckecth)n regulatlor6 kn the condLKt ￿ thelr work wtth young pa*. Adv1￿ to cor¥Jregations on fin￿JaI and admin15tJatr¥e rnatters. (Iv) Blshops, who are elecbs by SyrKxl, Ixrt who are nonetheless empbyees d the Moravlan Churchi provlde pastoral and splrltual gLIIdan￿ to congregations. (v) AdmlnlsterlrKd t1* assets of the Church through Is subskliary c￿T￿TrYI The Moravlan Unkn. {vl) MalntslnlrvJ archNes bthlch relate to congregatkTh of the thurch and the Br￿1$h Pr￿n￿. (vll) By womng with Fulneck Sch(xJ'5 advisory Eoard of Gcwenws and with the wofesslonals employed In the schrK)I, rnaintainiThJ arwj further developiw ￿ staThdard5 of academk eX￿ller￿ and pastoral care offered. Page 5 REPO R THE YEAR E OBJECTS AND ACTivrrIES {Contlnued) Strategles To promote these activitie5 the para)t chaiity: Organises the trainlrYJ of both ￿dained arKI ky pre￿hets. Has develoFed and made available trj Congre￿ a W¢￿edureS manual to regulate thelr work wlth Y￿ng people. The Church akn works wlth"APCS" to protect ts Interests ￿ young pw)le, Pmlde5 advte to cwwtK)ns on the windrles of Sou￿1 adminisirntion agaln through bulletlns and publicatkys. (Iv) The Church's Investrnent assets, which are hehj ty tts sub5idvary companyi a￿ admlnlstered wf(h the asSIstsn￿ of professional fund rnanagers. The ￿urCh'S la￿1 and buildings (whth are hdd by Its subsidory Tr Moravian Unh)n) are adminlstered thrcwh the servkes of a Ctsrtered Surveyor with vth in ￿)th Instsn￿5 to maximistro the returr6 available to the Church w6th1n constra5nts Imposed by Church's charbtsble mlsshjn. (v) The Church, through Its subsldlary ccffipany employs a full4in* archw who Spe￿IS a p)rUon Lf her tlme athLslrg congregatths ￿ hTh¥ to maintsin thelr archk¥es. Prlndpal Objectlves for the year ended 31 August 2023 The trustees detemiined the foliowlng prindpal obiectlves for tte year eNled 31 August 2023: To cortlnue to offer tralning for mintsiry ￿ lay wethng to all who wish to be trnined the trustees are satlsw aLv)ui their sultabllty. To ensure that all (c￿gregationS are encourw to adopt best practlce In ￿nneCtIOn wlth their work wlth chlklren and yourwj people. To contlnue to almlnlster tke Cthurch's assets in a way which Is approprlate to the Church's chartsble mlss arKI to maXirni5e returns for the knefft of the Church SW to these constraints. To contlnue to ryon￿e 9crfJd wactke In tr* archmng of the Church's and Coryregatlons, records by yon￿1n9 communutK*n be￿en the archfrdst emplopl at thurth H￿se and Indlvklual Congregadons. To COn￿n￿e to SUFV)rt th In tts partner pr￿In￿ of the Moravian Church In Westem Tanzanla (MCWD and also the work In South Asla, the ￿tA)nSI￿Al￿ for the latter belr#J glven io the British Province by Unlty Synod. To continue to suppjrt natlonal and ktal ecumenkal Ixxlles to ty and de4ek)p ways of wotklry rrwxe dosely with other denominatlons. To ensure the flrondal stsbllisathjn of Fulneck Sch(N)l. Page 6 GU 02 ACHIEVEMENTS AND PERFORMANCE How our activitses deliver public benefft The Trustees Confi￿ that they kn referred to the guKla￿e contsiwl in the 1]￿rtty commiss￿.5 generdl guidance on wbllc ￿nef￿ when reviewlrKJ charivs aims owti'ves in plannlNJ future acttvltles and setting grant maknn9 poliry for the year. The charity ¢2rries a wKle Trn9e of actfvitles In pUrsuar￿ of its charttable alms. The trustees conslder that these xM*s, summartstsj bek>w, ￿l)vide benefit Ix&th to our C£sNJrega￿ons and tre publk In gerffil. Revlaw of the ywr We contlnue to f￿u$ on the essentlaFs of our exIsten￿, whkh a￿ to be found In the Ground of the Unity (Church Order of the Unitas Fratrum), and to try and achietsE a proper balaKe ltheen tt*se essentlals of being a church arrfj the challenges of governan￿ in a cont&¥t char￿￿riSed lry numerical dedine and financlal Un￿rtainty. We remain confident that we can seNe Gc%l effectivety in the provir￿ despts limltath)ns of belNJ a small chur(h. We continue to look more effective ways of enpjing in mission. The trustees have devebk*d a re￿ strato)Ic plan, "Embrxtro a heart of Resllleno., as an over-archlrKJ prcwjramme. The strategic pkin will look at all areas cl our current activltles, w￿h n&v Prforltles to ensure sustalnab114ty and fu￿re grovéth over the comlng decade. Under thls Strateg￿ plan sits prcqrBmnR of renewal, Project 32, which will focus its work on devek)￿ent and growth In the coryregatlons. Buildlng on the work of the'Future Directtons and Sustslnablllty Taskfcrte,, the Project 32 Implementatkm commit￿ glves guldants to more effectlve ways crf ensurlng future Provlnclal sustalnallllty a￿1 grThth. Prt)Ject 32 got off the ground wlth the"Holy HabYG' learnlng arKi ￿ prtsjrnmme. It has teen a t1￿￿ of transltlon a￿1 adJustrnent for the Moravkn Church, for our cOngrega￿onS and for the wlder organ15atlon. In the tlme urvjer revlew one c￿jregatlon (KlThJswocrfJ), clsxejj and two ot￿erS (Salem & Royton) merged to slrKJle c0Th￿t￿)n. Renewal and grow remaln an Imperatlve for the church as a whole. Mlnlstry It Is clear that, Un￿ our cwshlp ar#J the YPMA glve money to many other projects. We are constsndy t0￿h￿ by the ge[￿ of s￿h gifts. Ecumenlcal As a provino, we contlnue to play as full a as kY)ssibk In the nath￿01 ar￿ four-natlon todles, wtth representstion on Churches Together In EngkiTrJ and thUrd￿ Tc#JetPer in Britain & Irekind. The NatIor￿1 Ecumenical OffI￿r was apwinted by the ProvirKial Board to rewesent ts Moravian ￿Urch at a National level and we a￿ grateful for the work of Br Phlllp Ccoper who currenty serves In thls Ca￿ty. The PEC will ask Synod to approve that several ecumenlcal Offi￿r5 can be appolnted on the future, a5 a way to ensure that the role of representstlonls fwJ55ed and less 0￿roUs. Sr Sarah Groves has been aP￿Inted Presklent of Irfsh Coundl of Church, (ICC). She wlll hokl thls post for one year, after whth she wlll remaln In the wesk11um as ImmeAJkte Past Preskknt. The late Blshop Joe Cooper is the only other Moravlan has held th15 tmjst, whlch to date has been hdd by on two women. Most congregations play their part In kcal ecurnenical S￿ne, fonnally ard infonnally. Br Living5tone Th(Knpson is a Trustee Chr15tlan Aid I￿land, in whith role he also sits a rrthiter af Incoffo, Finar￿, Wsk and Audlt (IFFL4) committee, for Chrwan Pjr Irela￿1 In JurÈdK*lons on the 151and. Conduslon Thls pro￿n￿ of the Moravlan Church has been In existerKe over 250 years, whth gfves It the privilege of a k*ro Instltutlonal merrrt￿. The contrStMJtlon that the church has rnade to 9x￿ty contlnLES to be the subject schoLarly Investigaticffi, the outcomes of whlch must te f￿ed matUTdy. It is ewdent that tre decllne In memtership must be halted to avoid an irreverslbk exlstentjal ulsls. Hcrtyever, w￿n consider the numter of memters and STgnmcant financlal contrlfAmons, whth we have teen able to make to SUPFQrt our missK>n locally and overseas. we could say that ts thurch Is Iwlng sb3nlflcant Impart. While the decl1￿ In nUm￿r$ Is ￿MIlar to what we see In cther communiors, the trend reinfor￿5 the need for us to te c￿rat￿)Ut the klThJ of church V￿ want te In the fU￿re. the rew strdteglc plan, project 32 prcgramme and effetttve use of taThJible and IntangIb￿ assets are some ofthe thi[￿¢ which we tel￿ vall make a dlfferer for renewal, sustainabilty arKJ effectt¥enes& Page 9 THE TR ES A major risk we fa￿ as a churd) is to fail to lfve up to the teachiTrJ5 of Jesus Chrlst In our dealings with each other and with those wlth wh)m we come into contscL The of the Church can be de5crfbed as being fold.. to nurture ￿S rneMte￿ develop their relatwjnship with CAXI and, reathlng out to those in the wlder community, to dononstrate the ChrBtian mtssage through our Ilfe and teachlng. The qualitatrve nabjre of our Ob￿ s one that the Trust&s constder to be at ts heart of our existen￿ as the Mordvian Church, We pay tribute to the orooing commtiment hard work of our ministers, the staff at the heack]uartets buildlThJ and the nu￿rouS vdunteers who rAfer such loyal seThi￿ throLtrJh ￿1r own congregations and wlthout wh(Mn there woukl te no Moravkin Church In these islands. We present thls reFXYt as belng a trkE refiectlon of our present pxtsfth)n. REVIEW OF FINANCIAL POSITION The Stateffl￿t of Hnanclal ktfvltles SU￿￿Or￿e$ the moN*mts In all tre Group's funds durlrs the year. Thls Indlcates that the Group recorded a net Increase In funds for the year of El,686,751, Compa￿ to an Increase of £2,882,847 In the wecedirwJ year. Durfrvj b)th the C￿r￿nt and ￿￿edIng financlal years the￿ have been numter of sh3niflcant events and transactiors that have dlstort&J the ￿rfornan￿ for the year as the Church has InsthJated Its restructurlng exerdse to Secu￿ Its flnandal viabilty goirwj forward and achk* maxlmum retum on Its Investments. The Group's totsl Inojme has Increased ty £992,139 to £8,019,548 and totsl expemllture by £97,123 to £7,557,788. Th15 reflects the orvJolng restructurirwJ exercise t￿n9 carried out, Total net a55ets of the Group atrw)unt to £31,470,691 and are represented by the Group's fixed assets. At year erKI the Balan￿ Sheet on pwje 15 dlscbses net cUr￿nt a$￿ts of £267,464 compar8J to net current liabilibes of £1,952,547 at the precedlng year end. Th55 primarlty rell￿ts the IMW of tr£ ongolry restrutturing exerclse. The financial pjsltlon of ￿ Group remalns strorKJi havlng an Investment ￿rtIO1￿ in stocks and shares of £2,939,874 as as a prowty held for Investrrent p￿r[￿Se5 of £27,143,814. TnLStees revleN the group and ind1vh1￿il ent6Ues reser¥es polKies on an annual basis taklro aco)unt of the total net assets of each enuty and the group as a w￿, wow5ed ￿tiVitIeS for the ftxthtt￿lrO year ar￿ tIRlr fundlng requlremerrt5. Page 10 REP RT FTHETR ntin REVIEW OF FINAIICIAL POStrioN (Contlnued) Investment Pollcy and ObJe(tlves Our investment ￿liCI is develoFEd in consulta￿￿ with ￿nan￿ arwj Pruperty Qxnmtttee, whkh makes recommendatlorns to the PEC. Tr present 5nvth￿nt Objec￿Ve is to ach￿￿ a balanc&J return In the investrnent rtfolio. The Invesbnent portr￿10 is managed ty prOf￿￿)nal managers and consEsts entirely of listed SecUr￿les. InveStn￿t thisions are based on an ethical sta￿e with the invethnt Ixoker5 belng Instruc￿ to avold speclfic and Pr￿￿tISe 7thth reas￿b￿ environma*al sensl￿Vty. The movement in market value of investments this year, reall5￿ arKI unrealised, arMunts to a minor I of £5,271. Gbven the Charws ethical investment starKe, 115 inconE requireD￿ts and the cUrr￿rt economlc cllmate, the Trustees con￿der the For￿110,5 Ferfomrte to ￿ satIsf￿tory. The Inve5trnent proFertles represent the managed estates are hekl to generate rentsl Income for the Moravian Union. The current market value of investment propertE5 ha5 teen estimated at £27,143,814, an Increase in value of £956,971 partty offset for the prcvision for impaim*nt of one protty amounting to £198,160, and net Tental Income ts £143,126 cc¥npared to the prec&Ying flnanoal year with net rental Income of £58,054. Net rentsl Incc¥))e will fluctLFate year on year d9￿kIlng cffi the level of rna1ntena￿e work requlred on the estste's propertks. FundrJl4ng Polky The Charty doe5 not Use fundraislrvj serv1￿, ccmsultants or extemal professk)nal fvrKlraLsers to undertake Its fundralslrvj a¢dvltle5 a￿1 rKJ data Is slwed wlth Ix sold to any external agende& The Charlty does r￿t undertake tlrect Mall and does not apwcoth or pressure vulnerdble Feople to suppjrt tts work. A complalnts pro￿Ure Is In p*e aThl the tharity &Jhe￿5 to the Fundratslrrfj CAJde of practte Issued the Fundralsing Regulator. FUTURE PLANS Durlng the forthcomlng year the Trustees alrn to conunue to discharge thelr cUr￿nt ￿SponSIbIlItIeS effectlvely and efflclently wlthln the constralnts of resources tx)th fIr￿n(la1 a￿1 human. The Trustees conunue to revlew the strurture ofadmlnlstratlon to ensu￿ that we areoperatlry a5 effKknUy a5 15 posslble ab)ve constraints. Furthermore, the Church, YAth a vlthy to sam￿￿￿[￿j ts record keeplThJ and financial rewtlw requlrements, wlll continue to rehew tts trust ledgw5 In order to galn Charty Ccffimlsskn corsent to tr* rrffjer of a number of the smaller furKIs. trustees determlned the r￿kM*11wj prlndpal obJecU%ts for the year eThllng 31 August 2024: To Implement the actfvths awclated wlth the strategr plan aThJ the pro￿ 32 Prtsjramme for ￿lIe￿al aTrJ To contlnue to offer trolnlng for mlnlstry or tsy we¥hlrvJ to all vtho ￿rfsh to ￿ tralned VOVKled the tnjstees are sattsfl&J about thelr sulta￿1￿. To ensure that all cor®atKMs are encouT* to a¢W best practre In connectlon wfth thelr Wth chIld￿n and young people. To contlnue to alminister the Church's assets in a way whKth 15 approprkite to the chu￿h.$ charitable mtsskjn and to maximise returns for the benefit of the thurth subFrt to these constrdints. To continue to promote gcth1 pr3ctKe In tr* archNfiw of the ￿urCh'S ar￿ C￿regatiOns, recr*ds by promoting communicatlon belJYeen the artttivist enploygj at Church House and indwidual CoThJregatlons. To contlnue to support In its partner PrOvi￿e of the Mornvian Church in Westem Tanzanla (Mcwr) and the wiyk in South Asia, the re5rL¥Ntxllty for the latter LEiTrJ given to the Brfcish Provlnce by Unlty Syncmd. To continue to support national arKi l¢Kal ecwnenTrl LKxlies to by and devekip ways of ￿￿k1￿ mcre c105ety with cther derwiinatrrs. By malntalnlrrfJ dose contact the Bckird of GoNEmors and senior siaff of the Fulneck school, trj SUPPOrt their drive for sustainability and a(adU￿ ex￿ller￿, partulaty as a re5uit current ecoThJmic climate. Page 11 RA￿AN FTHETR RT RESERVES POUCrf The trusiees recogni5e thit the i￿alIty requires reser¥es to alh)w itto continue its V￿rk In the eNtnt of unforeseen Interruptlons to Its Income stream5. The trust￿$ conskler tre Charivs reswve rquirements at least annually and to be prL￿t are of the opinh)n tkk2t Un￿str(Ct￿ reserves eyufvaknt to at tht one yearfs totsl exkEnditure should be hdd. At the current year-end, Unrestr1￿ reserves (exdudiro those eam￿rk￿l for desognated pUrp*￿s) amounted to £l,277,Oc￿ ard this reprewtal approxin• 17% of annual ex[*￿Iltu￿, excludlng hool's eyFenditure. The current economlc dlmate has contInL￿d to have a significant impart on the actfv6ties. InconE gerwatlon and expenditure of the Grovp. The Trust￿ ￿ consldered this when assewrKJ the awrlty's ablllty to contlnue as a 4￿[n9 co￿[n and the level of reserves it will require. As explalned In note I to financbal statements, the Trustees are of opinion that the reser¥es avallable to the awrity a￿ suffident to ensure that the Charlty continues for the forese&ible future. STATEMEKf OF TRusfEES' RESPONSIBILrrIES The trustees are reswnslble for preF4iring the Report of Trustees a￿1 flnandal statemerrt5 In accordan￿ wlth ppllcabte law and UnlteA Klngchjn AccountrrKJ Standards (Unlted KIr￿n C£neralty Accepted Accountlng Practice), indudiry Financial Rerortlng Standard 102 Tr FiMThial Rep)rting Stsndard appllcable In the UK and Republic of Irelarvj". Charty law requlres the Trustees to prepa￿ flnandal ststements for each finandal year whkh gfve a true and falr vlew of the state of affairs of the Group of the irKomirKJ res(wrces and appllcJtk)n of resour￿ for that period. In preparlng thc6e finarKkil staten*nts, ￿ Trustee5 are ro]uired to: . sellxt sultrble acc￿n￿￿j polldes ard aprty them ccf6lstentty; observe the methods and pdrKlpks rf the Charfties SORP," make j￿Igernents and esttmates that are reasonabk ènd prudent., and prepare tre flnarKkil statements on a conctrn basts unless ￿ ts Inapwoprfate to presume that the Group wlll contlnue to 0￿rate. The Trustees are reswnslble for proper accountlng recoryear temi, have nck been infvndentty valued by a profes*?￿1 5uryey(Y. a￿1 the valuatlon is bJ59J on present value cl fithre rentsl incL¥ne. The uncertèinties ￿lati￿j tothe untslwng aSsumtkn'￿S indude the exten51ve reFolr costs whld) are the re5c￿￿tIlty of ￿ laThYtrd u￿r kase aThJ ￿$0 the rlsk that tyrrent tenant wlll terrnlnate tr a9reement earty, under the treak dause In the ka5e. We condurted our in ￿ance wrth Intemthl *Thlards on A￿allIng (UK) IISAS (UKII arK1 applitaNe law. (￿r re5Fonslbll￿le5 under those Skr*l4rds art further dtht*d in the &iditrrt thertt￿. The trustees are ￿5￿￿￿tle for ￿ cther inform￿. Our opxnK)n on finaKial statements doe5 not CLY￿r the other arKI do not exwess any fcffm of a55uran conclLLSB)n thereon. In c¢￿ne[l￿ w5th our audlt d the fThrThl statements, ow re$F4J￿¥1ty Is to the informatth and, in Ih)lThJ ￿, consider whthr the other information 15 m*eTialty inconsistent wth the finaNJal statements (Y our knovAedge obtalned In the audr( or othewse appears to be nthrlalty m65tate(l. If we Klenty material inconsistenoes or apparent materlèl misstatements, we are ra]Ul￿ to detem11￿ vhthr 15 a material rnlsststement In the flnanclal sta￿ents or a material misstatement of the other 1nfcffibatl￿. If. b35ed on theworkwe hove concludethatthere is a m*rtal mlsstatement of thls cther irrfcrfmation. v* are reqUI￿d to rtp)rt tlwt fact We ha¥t nrthlThJ to ￿rOt in this regard. Page 13 INDEPENDEKf AUDrr TO THE TR F THE UNrrAS FRAT RA￿AN RESPQNSIBILMES OF THE TRUSTEES As explained more fulty Sn t1￿ Statement ofTru*ee< Rw)rN'￿'Iitie5 the tntstees lesr￿￿b￿ for w￿rtn9 the Rek*Jt of the TNtstee5 and the fIna￿JaI 51aterMts and Icf teiTrJ satlsfied t1¥9t they 9￿ a true and falr ￿￿•¥. and for suth Internal contrc4 as the trustees determlne 15 r¢ce55ary to eThitrAe the weparation finanoal statwnts that are free from matsrial m￿en( whet￿r due to frEth or er￿. In preparlng the flnancL41 statemerts, the truths fry a55etyThJ the d*riVs ab116ty to as a golng col￿rn, di￿loSIng, as apF4IcAb￿. matters related to gc4ng COfKem and ￿1￿9 the goiro concem basts of a(uwntlng unless the trustees eitr*r intend to1tr4uidate the tharity cf to ￿se OFeths, or ha¥e ￿ realistic altemative txt tr> ￿ so. AUDrroR'S RESPONSI8ILrriES FOR THE AUDIT OF ThE FINAPICIAL STATEMEiirs We have teen appc4.nted as auditots under Sectth) IHII) of the (harlJ&fj A(t 2011 and re￿ in actordarte with regulation5 made under that kt and relmnt regulatws made w hM"rvJ eff￿t tJweuNler. Our obJe(tfves are to ottsin feas(ffiat4e assUra￿e atr*JUt whether the financial statemerrt5 as a whde a￿ free fn)m material mlssiatemrt due to fraud or errcf, and to is$￿ an a￿rt¢￿S rerth that IrKludes cyjr oixnion. ReasC￿ab1e assuran Is a high level of assuran￿ is nc* a guarantee that an audrt C￿￿1￿cted in actordance wth IS45 (UK) will alway5 detett a matenal mtsstatement when it exists. MisStatem￿ts can aw frryn fraLbJ or erny and a￿ (￿$#￿red material if, indNidually or In the a9Jregate, thty crAdd reascffjabty be to 1nfiUe￿e the economlc d￿tsk)n5 of user5 tsken on the basls of these fin￿￿01 statsments. ¢)Jr objecllves a￿ to r*knin rea50robk assurd￿e ètojt I￿*ther the flnandèl statrments a5 a whok are free from materlal mlsstatement, W1￿her due tt) frawl ￿ error, and to an a￿l￿S remthat IndLKle5 our op1n1￿. Rea50nable assurance Is a hlgh kvel of a55urarKe but is not a guarartee that an a4xIit coTrJLKted in acc(ffda￿e wlth ISA5 {UK) wlll always deted material mls5tatement when It ￿Sts. mlsstaten￿nts can error aThJ are c0ft￿dered materlal W, lThJlvldualty or In aggregate, ty could reasonabty be exFttted to innuerKe the eojmnt of users tsken on the bals of these fina￿￿1 staterne￿. Irregularrt*s. Incl[￿Ing fraud, are InStsn￿ cl Th)n<￿￿￿tinte laws wulaticxts. We d&gn w￿￿￿re$ In Ilne wlth our reSpJr￿IbiIyC￿s, (thlned above, to detett material mlsststemerts in re5Fed of irregulèrltles, Ind4>Jlng frnthj. The extent to vthKh tyjr procedures are capable of deteth￿J irregulariiies. i1￿￿￿11r9 ft3￿j 15 detsibj tebw.. The Charity is required to COM￿ chaylty law and, based on wr of tts ath"vrtles, identified the I requirements to comFty th15 legtslatkn iThJuding the requlrement to corrn*y Kcourt for restrlrted fvnds. We galned an uNlerstsndirKJ of the tharlty Cl￿[￿￿ with its *1 and wulatory framework, Indudlng the requirement to accrwnt for re￿r￿ted luThts throw￿ 1ligJA8m with m)nryement a￿1 a revtw of t {Jc￿mented Fclicies, ￿￿edureS and controls. The team, whkh Is exFerierKed In the a￿lIt cl thèr1t6e5. (￿5thred the charity'5 sU￿ptI￿.1Ify to materlil mlsstatement and how 1rnL￿a may (mir. Our ccffis**ratkn5 I￿l￿ded the d5k of management override. r approach was to ched( that all restritid ino)me was prcwty identyfied and separatety accwntaj for and to enyjre that onty valKd and apprwK•te eXp￿IlUre was charged to re5trKted fi￿d5. This w)duded revlewlny J￿rnal adjustments and unusual transa(JJons eecause of the Int￿ent Ilm*atiors of an aLKIK thue ts a risk ttrot V￿ vlll nrt detect all lThegularltbe5, I[KI￿JIng those leadlng to a matsrial m155taternent in the finar￿val stttemerts or n￿l-(￿n￿￿47r￿e wth regulathjn. Th15 risk Ir￿reaSeS the r￿re that cempllance wtth a law or regulatK>n ts re￿￿￿d from the events aThJ transacticfs renetted In Ule finandal ststements, as we will tse less Ilkely to tecome aware of instarKes of non-Com￿larKe. The risk is also greater re9ardltvJ Irregularities ￿Cuthng due to fraud rather than errDr, as fra￿) irMA4w Irt￿ Cf*Kealmer¢ fffjery, LYAluth, omlssfv)n ￿ mlgpkJpsentstKJn. A fUrt￿r descrlpb.on of our re5p)rfjlt411tles fry the aL*Jit of the finanoal ststements 15 kLited on ￿ Flnancyal ReF4Jfjng Cour￿lI s aL. http5:IlvwM.frG(xg.uk1a￿￿It0tsr￿st1I￿t*5. This de5￿p￿Cfft forms p3rt of our auditors reprt Knox Crnpper LLP ststuttyy Audltor 65 Leadenhall Street London EC3A 2AD Knox Cropper LLP Is ellglble to art as an audltor of the Charity in term5 of section 1212 of the Companles kt Page 14 Total 2023 Totsl 2022 Income and •ndowments from: Lkntions and Legaaes other TradlNJ P£ttvlties Investments 45),619 4.831 731,799 93,243 1,187,249 93,243 1235 190 2.515.682 4,026.293 1477 573 8 019 548 1,261,494 74,571 1087 182 2,423,247 3,951,752 652 410 7 027 409 921931 1.3n,550 22,590 21,548 9,445 1.121,S84 3.934.258 Chadt•bl• •thlil othor Totsl Income 5 115 842 Expendlturn on: R•lslng Funds Fundralslng trndlng: cost of goc*Js scld and ott￿r co#s Investsnent monagement (123,th)7) (123.007) (124,165) 810 508 (933,515) (6,624,273) {739,536) {983,952) (2,211) (836,884) (191,768) (1￿3,437) (913,893) (6,546,772) Ch•rlt•bl• Actl¥ftl•s Total Exp•ndlturn 4 995 205 Net Galnsl{Lctsses) on io. li 216m4 545.310 (7.899) 754,305 2,332,082 Net Ino)nellexrendlture) 1,366,119 (262,792) 112,738 1,216,165 1,898,826 Oth•r Rec4>gnlMd Galnsl(Los••s) Actuarbjl &insllLow) on Defined Benefft Pen5 Scheme 19 470,686 470,686 983,841 Trdnslets betr￿en rwr 17 {550,M) (448,810) NEf MOVEME14T IN FUNDS 815,331 1,207,492 (336,072) 1,686,751 2,882,667 Recondllatlon of Fund•: Tot41 Funds knught Forwanl 17 461,6n 24.769,787 4,552,476 29.783,910 26,￿1,273 TOTAL FUMOS aRRIED FORWARD £1 £4 216 404 £31470 691 £29 783 940 All gains arnl losses arising in the year been in the stateM￿t of Financial Actmtyes and relate to (￿tInuIng operations. As J result of ts ¥LtTr￿ties for the year ctkirity, The Morawan Church, dtsch)sed a net increase In funds of £70,949. Its tctsl net assets at the yeareThJ #oc* at £1,110,520 The notes fomi part of these financial statements. Page 15 LIDATED BA Group Par• Notss 2023 2022 2023 2022 FIXED ASSErs Tangible Fixed A55ets Investment ProFerty Investments 4,756,235 27,143,814 2 939 874 YI 839 923 4,137,187 26,817,467 355,279 363,003 io li 36 052 263 524 697 CURRENT ASSErs StoKk 12 13 47,552 585,976 1328 993 1,962,521 27,524 507,367 1160 678 1,695,S69 129,423 919 341 1,048,764 120,267 883 124 1,003,391 Cash at Bonk and in Hand LIABILrriES CreditOf5: Amounts fallirvJ due within orE year 14 1695 057 3648 116 NEf CURRENT ASSETS 1952 547 514 874 TOTAL ASSEfs LESS CURRENT UABIUTIES 35,107,387 34,099,716 1,110,520 1,039,571 CREDrroRS: Afflounts falllng due after mor• than one year 15 (69),229) (751,217) Defined eeneflt Pensbn Liabilty 19 (2,946,467) (3,564,559) TOTAL NET ASSFrs £31470 691 £29 783 940 £1 110 520 £1039 571 The Funds of the Charlty: Resir1c￿l Funds Unrestrfcted Funds General Designated Fund Deflned Benefft Pen51on UabS11ty Deslgnate 17 4,216,404 4,552,476 1,079,796 1,009,630 17 1,277,008 461,677 1,486 17 17 (2,946,467) 28 923 746 27 254 293 (3,564,559) 28 334 346 25 231464 TOTAL FUNDS £31470 691 £29 783 940 £1110 520 £1039 571 Approved ty the Trustees on 2024 and SKJned on tkdr behalf by Mio IL M. A Hoey Charty Number: 251211 The notes forrn ￿irt rA thtse financial stat￿￿ts. Page 16 VIAN DAT 2023 2022 NEf CASH (OUTFLOW) FROM OPERATING ACTIVITIES (490.454) {J,983,495) CASH FLOWS FROM IPIVEsfiNG Investment Inclyne 1,235.1 I,￿7,182 Payments to acqulre taThJlble f assets Prr￿eed5 C￿ ￿￿1 cl tsThJlL4e fwl {783,469) (28,970) 1,119,595 property assets Jrchase of fixed &￿t In￿5￿nts io li 432,464 (978,491) (968,839) Inve5bnents li 3 130 955 3,036,fA9 2.403.904 CASM FLOWS FROM FINAIICING AcrivrrIES Intere51 paK Movement on Loans (226.6761 2 151204 (151.176} CIIANGE IN CASH AND CASH EQUIVALEiirs 168,315 (319,840) C••h •nd C•ih EgulrAlents at th• beglnnlng olthe rnportlng perlod 1,160,678 1,480,518 Gish and Cash EqUI￿1•￿ts at th4 end of th• r•portlng p•riod £1328 9)3 £1160 678 REa>NCILIATION OF NEf MOVEMEiif IN AINDSTO NEf C4SH oirrFLOW 2023 2021 Net Movement in fur¥ts fty tr£ ytar Investment Income lrterest Pald Depredatlon (Gain5)IL055es on di5FC6al of wcyrty fiwJ a55ets {GainsllLc65es on disFosal of cther fixed a55ets (GainsllLosses on in*strnent assets Invesbnent asset Impairment {IKreasellCvxea% in S￿k {Increase)/Ceuea5e In Detrtors Increa￿(L*CreaSej kn Cred￿015 Movement on Defined PensIC￿ LlalMI 1,686,751 (1,235,190) 226.676 164,421 <9%,429) 2,882,667 (1,087,182) 151,176 159,122 (652,410) 1,713 (2,463.332) 131,250 3,853 181,539) 149,316 1178 129 1983 495 {5.271) 198,160 (20,028) (78,6tr>) 137,157 MEf DEBT RECONCIUAnON 0110912022 3110812023 Cash èt Bank ar￿ In Har UBS faolty drwin down Loans repayab￿ wkhin one year Loans repayable outsth one year I.L60,678 (1,975,2C()) (167,305) 168,315 1,975,2 9.952 166 052 £2 319 519 1,328,993 {157,353} Page 17 WIAN TES TO THE FINA FOR T ENDED ATEME usr 20 ACCOUNTING POUCIES Basls of Preparatlon The financial ststements of the Charity, vthich is a pU￿1C benejlt FRS 102, have been prepared in accordance wfith the provisi0r￿ of the Charitie5 Att 2011, the Statement of RecomrneT￿ed Practi "AccountlNJ and ReFQtting by Charities" appS1cab￿ to charlties preparing aco)unts in accordan￿ wth the Financial RekY)rting Stsndard applicable in the UK and Re￿I￿1C of IrelaThJ (FRS 102), FRS 102 and the Charltles Act 2011. The financial reFLWtirKJ framework that has teen applied in their p￿para￿On is appltsble law Unlted Kin￿ ￿C(￿ntIng sts￿rdS (Untsd Ki￿￿￿￿ Generalty ACCept￿j Accounttng Prattl￿), InclLbJirrfJ FRS 102. flnanclal stateJnents consolhjate Incomlry resources and resour￿ experKied, assets and liabilityes of the following entities", ravlan Church aNI bts CorvJr8Jations (n￿ Parent) The Moravlan Union {l￿OrE￿ated) Fulneck Sch￿1 Ockbrcx)k Sthcd (urtll 28 Juty 2021) Fulneck C￿lT House pre5entatbn currency cl the finandal Stat￿rffits Is Pound Sterlltwj (£). Golng Concern The trustees consider Ulat the￿ are rw) material u￿ertaIntIe5 about the Group's ablllty to contlnue as golng cor￿er￿, The Group Is contfinulrKJ a flnanckil re5truthring exercise (see Th)te 22> and has secur8J lease on Its Ockbrook Schcol wopertles, which prevlously entered admlnlstration, and provisions made agaln5t Its kan to Fulr*ck *h￿l to supwrt Its finaKkl stabllty. In fomiSThJ this opinion, they have consIde￿ the Impart d the flnarKlal re5tructurlrKJ exerdse on IM)th ￿ Income and expendthre for at least a Ferhxl of t￿e rTh)nths from the date of apwoval of t1￿ flnandal statements, The Chadty's resefves, Includlng the investment prO[￿rtieS ￿valuat￿ reserrfe, arKI plans In place are sufflclert to ensu that it remains a going cOn￿M the foreseeable future. Inc•me Recognltl( All income is reccsnised in the Statement ￿ FlnarKlal ACtiVrt￿S 1)no tr* charty has ent6tlwnent to the fiJnd5, it is probab* that the Iruffie vhll be re￿p￿1 and the amourt can be wsured rellablv. L*nations and Legades Income from donatlons and leg￿5 Is general￿ recconlsed on r￿lpL However, Income from the Mrs E M Bates Trust Is ac¢JLEd at the balarKe sheet date If the trustee5 are satlsfied that the cTlterla of entltkn*nL certalnty and measurement have been met on tre bas15 d Ikckratk)ns ar#J/or payw*nts by the donating oryanIsat￿n after the year end. Fees receivable arKI charyes f￿ seNkes and use ￿ premtses a￿ accounted for In the pertd In whth the semce Is providejj. Fees rthable are stated after ded￿￿r0 albw3n￿, scholarshlp5 and other remissiorts granted by the 5chcK)Is. Rents recefvable are I￿uded on an accruaLs basis. Inveslff£rt i￿Orne is recryJni5&1 when recerrtl by the investment manasers. Page 18 RA I. ACCOUPMNG POUCIES (Contlnued) Income Re¢opnltlon (contInu￿) Other IrKome Is generaliy recognlsed on an accnjals basts. Expendltur• abilities are recogrlsed when a legal or Cl￿str￿￿Ne obltyj'on to make a payTnent arlses, fit is wobable that a transfer of ecommlc benefits wlll be requlred can be measLYed rdiably. Exttndtture Is charged on an accruals baas. AJI expermjlture heads In the SOFA Induk dlrert Costs and apwYryEd overhead costs. Overhead costs are ap￿rtIoned on the basis of employEe time. Charitsble athv6ties represent the dlrect costs of (ffjfirrfJ rArt the alms, tr4ether wth allocated suppxxt costs whlch are aFpO￿oned to the drfferent e￿￿ttUre h&id5 on the basls of skff ts.ff￿. r￿an￿ costs are the costs of meetlr¥J the d)arlty's ￿U￿tOry obligations and are Ind￿led wthin swp)rt costs, Stock is val￿d at the lower of cost arn1 net realIsa￿e valLE. Investments Investments a￿ a form of ba*c flnarthl InstnJm¥* ar#J are Inlyally recL)Jnlsed at tr￿r transact1￿ value and subsequently measured at thelr fair value as at balan￿ 4)eet date ￿1r￿￿ the d051ro qL￿d market prt￿. The statsment of flnanclal acttvltles Indudes the net galns a￿lI055e$ arislry on revaluation arthj dl4)osa15 thrOug￿)Ut the All galrs arKI losse5 are taken to the ststement of flnarKla actlvlUe5 as tty arlse. Reallsthl galns and losses on Investrnents are calculated as dIffe￿nce ttheen sales prThls and thelr OFenlng carylry value or thelr purthase value If acqu1￿ subsequent to the first day of fina￿￿￿1 year. Unwllsed galns and losses a￿ calculated as the difference be￿een the falr value at the year end ar￿ thdr carrylng value. Reall￿ arxl l￿wIl5ed Investment galns arKI 1055e5 are comblr*d lft ￿ ststement of flnandal acYNit*& The Trust does not acqu1￿ put opUons, derlvatrve5 or other complex flnandal Instruments. The maln form of flnandal rlsk faced ty the chartty Is that of W?￿￿1tty In equty Ma￿ets Investment markets due to wlder economlc condmons, the attltude of in7¥EStors to 1nbeSth￿t rlsK thanges In S￿rnert concernlrKJ equloes and wlthln certaln sector5 or sub sectors. Invejtrnont Property Resldentlal Investment woperty Is val￿1 at market value at the bakrKe Sheet date. It was lrKlepw￿UY valwl on 3 July 2015 ty SHP ValLWS Ltd, a firm of thartered &Jrveyors registered wth the Royal Institrjte of Charte Surveyors {RICS), based on lnfornw￿n on the ￿lts'On of the propwles supplled by Charfvs estate manager, John Forrester Ltd. The market value of the proFe￿.e5 15 revlewed annualty and ￿JUSted based on the COnd￿lon aThJ usage of those prO￿￿e5, as athlsed by John Forrester Ltd, using ￿ Halifax Reg￿nal House Pri￿ Ind1￿5 aThJ other suppK)rting informab'on when avaiL4ble. The FWor￿rt￿s of the fomer Od(broc& sch(￿ Kive been valugJ based on future rertsl irKome net of fu￿￿ repalr co*s. Leams PayTnents for operab'ng ka5e rentsls are thargej to the InCc￿ and experKIitu￿ acrount over the peric*i of the lease. Assets acqulred under finan￿ leases or hire purchase contracts a￿ ca￿￿lISed dewedated over the I￿e of the lease wth payments to the lewr belrrfj apk*Jtk)ned btheen captsl whth writes down the outstandiNJ obligation and inttrest is d)arged to ￿ Statwwt of FI￿4ndal thtjes over the perf(MJ of the lease on a Stralght-llne basls. Page 19 RA THE FINANCIAL sfATEME ntln ACCOUNTING POLICIES (Contlnued) Tanglble Flxed Assets All freehold property Is anatysed tetween furKbonal twrtles (e.g. Chwthes, Church Halts, Manses a￿1 Church House) and Investment protertles (the 'estates proFertks? a￿ malntalned to generate ￿ntaI Income. funcvonal Fwopertles are cathed at cost deprgjated. Tr 1rNestr￿t woperties we carrted at market value. For functional proFertles, defftation Is nct wovided on freehc4d land. The cost of INj1￿1n95 ￿5$ thelr ￿Mot￿l re4dual value Is depredated on a strolght-11r￿ bas15 at 186 pa for the struthre and 2.5% pa for the rwf. Cettsln proFertES Used by congregaoors are Th)t refiected on ￿ bala[￿e shee¢ alt￿￿h legal tyue may be vested In the Unlon, as tw were acquired a ThJmber of years ago and ￿ record of thdr cost Is avallable. Depredatbn of flxed assets Is kyotr￿ed at rate5 es￿rnat￿J to WTtte off tr* cosL less e5tImat￿l reshjual value of each asset over Its expetted useful Ilfe, as fdlows: Freehold land aThJ bulldlrfjs WA 2.5% NIA Leasehold bJlldlrvJs Furnl￿re and equlpment land and 2% 25- io- 33.3 15% NIA 33.3% NIA 25% the life of the lease Computer equlpment Motor vehKles Leased Assets Taxatlon For all charltatAe actI￿ve5, the thurch enkn eXeMp￿On from cffj*)rnllon tax u￿ler ￿ C￿poratIOn Taxes Act 2010. The chartty Is not registered for val￿ Ad(kd Tax (VAT) a￿1 expendture irrecovwable VAT where Incurred. Athiance F•es Sdbeme Where the Sd￿01 offers parents tt)e opporttjnlty to pay for up to seven years tuitbn fees in advaKe In accordan wlth a wrltten contract, the amounts re￿Ved are invethd arKI Interest Is accrt￿d to ccntracts. Thls is twted as defer￿ Income until the pwll Idns the sth)d the fees for eath schwl tem) are charg8J agalnst the remainlng bala￿e and tsken to IrKome. Any sh(Ktfall is treated as a ded￿￿On from fee Income aNI ary ex￿$ aCcr￿d Is treated as addithy)al sch)J Incoff*. FlnandrvJ costs Indude amwnts accr￿ In aCcOrda￿e wlth ￿ terrY6 ￿ the P1van￿ F￿ contracts. Fund Accountln9 F￿1$ held by the tharIta￿e gnxp are dthw: . Unrestrlcted gw*ral fuTrts - these are funds whith used for any pur[￿ which 6 In accordan￿ wlth the tharfty s i)bFctsves aFKI at the dlscretion of the Tru*ee5. Deslgnated furKls- tr*se a￿ fuThls set a￿de by the TTU5tee5 Out of unresthcted general ftjnds for a spedfic future purpose or kxoiecL All sums appl1￿ to the pwchase of F￿tyerty a￿ dassified as deslgnated fiJTrJs. Restricted funds - these are funds that can onty be used for a particular wrpose wlthln the obJects of the tharlty. RestrlctKJns odse when SFtofied by either the donor or by way of indication when ￿rtaIn funds are rBlsed, Page 20 TO I. ACCOUNTING POUCIES (Contlnued) Penslons The dlfferert entltles of the Mora¥lan thurch rnn a varbety of pensknn schanes. ￿jrther detalls of eath thme are st¥)wn In Note 19. As explained In n(*e 19 to these flnatKJal statements, The MOra￿an Unlon has recognlsed dls(retlonary pensions payable to retlred mlnlstets as an ol￿lgati￿. Thls lIa￿lty ts val￿￿ by The Mor￿an Unlon's actuarfes {BWCI). The Trustees review the reasonabillty of aS9jMp￿ underfwTrJ the most recfrt Valuati￿ annually and conslder wl*ther a new valuauon is requlred. If a new vall￿tI)n Is not o)nsidered necessary, adjustment s￿*jId be made to unwi￿1 the dlscount applied to m05t re￿nt vBILwtion by one ￿r. The TTUStees con4derthat the assumptiors underfyiro the prevlous valuats'on, as at 31 August 2017, have now charvjed shJnlfi(andy and an thrfal ValUa￿On was commlsslon&J aThJ completed on 6 Aprll 2023 prDwding valuations as at 31 August 2021 aryl 31 August 2022. The actuarial valuation coMmiss￿ne￿ as at 31 AugL& 2022 IrKllrated that ttE asyjmpkns as at 31 August 2021 had dmnged slgnlflcandy and a prior year adjustment has rn￿e (Note 23). Mo*mentsdurlrrfJ the year are dlsclosed In note 19 to these flnanclal ststements. with effect from 31 December 2015 the dlKretionary 5(heme for &bve rnembers wa5 dlsconb'nued and replaced by deflned contrlixjuon scheme. The d￿r[table COm￿n￿$ lIa￿lity under this 9frme is Ilmlted to paWng contrlbuyons as they arlse arKI these costs are recogn15ed In the accounts when the c￿b[rtIOns fall due. The Mora￿afi unl￿ contslbutes at tre rate of 7% of penlorkltje salarles to the prlvats penslon plars of a number of employees. As the charkntAe companVs Ilallllty under these sthemes is limlted to paylng (r)ntrlbuttons due to the schemes at the apprwlate Ume, I￿Se crsts are recognb5ed In the a(rA)￿ts contributlons fall due, A numter of the professlonal stsff employed at F￿neck thl pa￿dpate In a muftl-employer renslon scheme, the Governments, Teachers Penslon Defined Be￿fits Scheme, for tts t&)chlng Staff. The TPS Is an unfunded scheme contrlbutions a￿ calculated to spread the cost of Ferslons 0￿r emptys, worklng Ilves wlth the school In such way that the pen￿On cost Is a substsntlally kvel ref￿ntage of current ar•J future p￿SlOn)ble payroll. The TPS Is muttlemployer penslon xheme open to the soknl's teachlThJ staff It Is not PJSsltle to identify the assets aThJ Ilabllltses of the 5theme attrfbutaile to trE 9Jw)d. Tr TPS Is treated as a defined contfibuucffj scheme and the contrlbudons recognlsed as tfv are pald each year. The $Ch￿e Is managed by the Department for Ed￿at￿n. ContrltrJJtk)ns to deflned contrttyJtlon pw6lon 5cheme5 are tharged tr) 5tstwnent of flnandal activltbes In tr* year In whth they bec(Nne payable. sch￿1 wlthdrew from the Trs SC*￿ wbth effect from 31 2023 Short-t•mi d•btors and cred Debtors are recogn15ed when Charty ts legally enUUed to Income after any [￿rn￿n￿ corMlltion5 have been met, the amount can be measured relk)bty and it is kyobawe that the Income wlll be r￿fved. Cr&litors are recognlsed when the tharfty ha5 a present legal or CO￿l￿tiVe oljigatim ￿￿ltIr￿j from a past event to make payment to third party. it Is probab￿ that Sett￿ment WUI be requlred and the amunt due to setue the o1l1gatson can be meamd or esumated reliably, Page 21 RA THE FINAN ACCOUNTING POUCIES (contInu￿) Key Judgemerts and Estimates (l) Flnancial instrument classrficatson The das5ifKatfjon of finandal Instruments, tKrth assets aTrJ I*￿Ilties, as'bask. or 'Oth￿ wuires j￿gernent as to whether all appltable condltions a5 basic are meL Thls lrnYu(les tyFe of Investment or loan aTrJ Its return. The onty ha5 flnar￿al assets Ilabilitses of a that qualify as basbc financjal Instnjments. These are inltlalty recognised at transactlon value aThJ sttseqL*nty val￿1 at their 5etUement ￿￿1￿. cOn￿SSIor43ry loans r￿1Ved a￿ 1nlts.ally ￿0)gnISed at the amount recelved with the ca￿￿n9 amount adjusted In gjbsequert years to rellett repay￿￿rtS arwj accned Intwest and adJu*ed, If r￿￿SSary# for any Impaiment. {11) Useful Ilves of furKtlonal prrffjerties remainirYJ useful Ilves of deFKedabbe pr0￿fjes are rvAthved ty managpJnent at reFOrtlry date ar￿, If rece55ary, the depredavon thar9e adjusted ￿C￿￿1¥Jty. (lil) Recognlljon and valuatlon of Invesbnent The dasslflcatson of The Moravlan Unlon's propertEs between fvndjonal Investrnent purposes requlres Jx1gement of the ￿e of those propwths. Management annually revlews tts usage of propert+'es and their classlflcath)n Ls amend&l necessary. The market value of proFetks da5sffi￿ as In¥￿ts Ls anr￿￿ty r￿leWed by Managem￿tt and, based on the coTrIIUon of those prorertles, tr£ value Is aJlLSted uslrg a recL¥JnlseAI markEt 1rn11￿. C￿) Valuatbn of retr￿ mlnLstws' defiwl be￿t penlon Ilabll assumptlons underlylng the pen51on xhfft artuarlal valuatl¢)n are reviewed annually by the trustees. If they con51der that the pilndpal actuartal asSUnEtl￿fj r*)t charyd signfficanvy the Ilability at ￿ yearend should be adjusted by unwiThJlng dlscowt by one year. If they con51der that d)arKJes In p￿ndpa1 actuadal assumptyons wlll have a material Impact M the Val￿ of the Ilablllty then an acttjarfal valuatton wlll be commlssloned. It Is Intwmled that an actuarlal Valua￿on wlll be carrfed out at kast evwy ftve years to reallgn tl liablllty. As detalled aiM)ve under p￿s1On$ the artuadal valuatjon carried out lThlicat6I that the 2021 asSump￿0nS had charrfJèJ slgnfficantty a￿1 a year adjustrnent W Lwi made (mte 23). (v) Doubtful debt p￿￿slon The recoverabillty of outstsTrJlr¥J debtor balar￿e515 by senlor marwent ￿ an annual bals. When recoverablllty Is Con￿dered doubthJl, a provlsion is made agaln# the balance. Page 22 RAVIAN THE R THE YEAR ENDED 2. I>ONAT10145 AND LEGACIES Totsl 2023 G￿rnI Daslgn•t•d Funds 2022 Mrs E M Bates Trust Grants Donatlons and Legades The Loniion missi￿ in Ald of Moravlan Mlsslon 360,270 4￿31 365,101 26,842 732,306 333,956 20,609 843,929 26,842 704,957 27,349 £450 619 £4 31 £1 187 249 £1261494 3. OTHER TRADING ACTivrriES Fundralslng events £93 243 £74 571 4. INVESTMENT INCOMe Quoted SeCurI￿es Rents Recdvable Bank Interest 101,738 822.797 16,717 78,801 209.684 197,256 1,032,481 172,735 908,681 £921931 £16 717 £296 542 £1235 190 £1087 182 5. INCOME FROM CHARTTABLE ACTivrriES ool Fees Fulneck ScPwl Congregational AcUvlt*s Unlty Incon Bo)k Saks Other ActlvlYes 3,685,733 199,411 11,000 41 3,685,733 199,411 11.000 18,234 111915 £4 026 293 3,625,516 158,816 ii,crfio 19,365 137 055 £3 951752 18,193 6. OTHER INCOME Gain on d15￿531 of fixed assets 1477 573 £1477 573 1477 573 1477 573 652 410 £652 410 Paje 23 %*p4C*P4* XX l•g-5i="S- f4 * r4 r ES 85 5%% Page 24 RAWAAN R THE YEAR ENDE 8. STAFF COSTS Moravlan Moravlan Church Unlon Fuln•ck 2023 Total 2022 Total Gr055 Pay Soclal Security Costs Pen4on Costs 437,882 45,937 298,933 29,876 2,401,695 3,138,510 189,420 265,233 321835 423 363 2,912,950 3,827,106 3,043,494 263,583 432 026 3,739,103 5fA,953 349,203 Othtt staff costs £355 583 £2 912 950 £3 833 486 £3 755 059 Induded In Note 7 as follows: Staff Costs Archive Costs Mlnlsty Mln15tertal Tralnlr#J Youth and Chlldren 71,898 296,623 2,912,950 3,281,471 3,140,362 53.606 520,519 762 474,682 474,682 £564 953 No. E355 583 £2 912 950 £3 833 486 £3 755 059 No. No. Average stsff Nwnbers: Teachlng Mlnlsters Oth 55 14 54 123 13 13 37 113 28 91 16 Be￿een £70,001- E80,(KIO Btheen £80,001- E90,(KIO Be￿ttn £90,001- £100,000 Betrfftn £IOO,001- £IIO,O(KI The Key Management PersMrEI of ts Clwty are tPK6e havlng auknty ar*Y reswx6lblllty fci rlannlro, dlrecyng and contrdllrKJ the aL￿vItIeS of I￿ Charfty, dlrertty or lThJlrecily, indudlro any trustee of the cha￿ty. Key Marogement personr￿ of the Mora￿an ￿Urch are Cor￿Id￿ed to be the trMibers of the Prov1￿131 Elders. Conferen￿, who are a150 trustee& Tre Trustees are not remur*rated for thelr Ser￿￿$ as wth, However, the regulat6ors and prartlce of SY￿1 allows seNng mln15ters a￿1 Church H￿j5e staff to te ebetsj to the Pro￿n0a1 Elders, and to contlnue to re￿ve thelr stlperxlslsalartes. Du￿W¥j ￿ pertod the followlng emoluments (IndudlrvJ berEfits) paid. 2023 2022 Rev. D. R. Howarth Mi$5 R. M. A. HLW 35,686 34,031 E71897 £68 417 An amount of £11,875 (2022.. £9,805) was relmtrAJrseJJ to TrLStees for tr￿ exper6es In￿rred du￿r0 the perlc*J. Page 25 RAVIAN RCH R THE YEAR ENDED 31 AUG 9. TANGIBLE FIXED ASSEWS fjROUP 8ulldlNJs Nttlr Eq￿PMert Tot•1 Brought Forward dltlons D15P05als At 31 August 2023 6,246,847 1,414,947 17,895 7,679,689 783,469 7,030,316 1,414,947 17,895 8,463,158 Deprnclatlon BroL4ht Forward Charye for perKMJ Depwlatlon on dlsposals At 31 Awust 2023 2,318,417 115,61S 1,207.010 47,988 17.075 818 3,542,502 164,421 2,434,032 1,254,998 17,893 3,706,923 N•t Book Value At 31 August 2023 £4,596,284 £159,949 £2 £4,756,235 At 31 August 2022 PARENT £3,928,430 £207,937 £820 £4,137,187 Cost Bro￿ht Forward Addluons Dlssy)sals At 31 ALWJUSt 2023 386,172 21,413 407,585 Depredltlon Browht Fornyard Charge for per Depredation on dlsp05als At 31 A￿ust 2023 23,170 7,723 21,413 44,583 7,723 Net Book Valu• At 31 ALWJUSt 2023 £355 279 £355 279 At 31 ALgUSt 2022 £363 002 Part of the atK)ve and ￿ld1￿$ ￿ subjett to M¢Jrtgage5 - see Note 15. Certaln w)pertles used by congregatlons are not reflerted on the bala￿e although kgal the Is vested In the Moravlan Unlon, as they were acqu1￿￿ a slgnfflcant nwntv of years ago aThY no record of thelr cost Is avallabk. Page 26 NOTES TO THE FINANCIAL sfATEMENTS Contin 10. INVESTMENT PROPERTIES 2023 2022 MarketValu¢ At I September 2022 Impalmient Dlsposal Proceeds Rea115ed galn on dIsp)￿l Unreallsed Revaluatbn Galn¥(Losses) At 31 AlKJ￿t 2023 26,817,467 (198,160) {432,464) 213,342 743 629 £27 143 814 24,299,983 (131,250) £26 817 467 The Charlvs estate propertles were valL￿d on 3 Jufy 2015 by an lTrJepwwJent valuer, SHP Valuers Ltd, a ftrm of Chartere(l &#NeY0￿ reglstwe£l w￿h Royal InsVtLrte of Ctsrter&J Surveyors. The valuadon was a desktop apprab5al of market Val￿ based ￿ Informatlon ￿ the c<>ndltlon of tke properues supplled by the Charlvs estate manager, John Fcfftstsr Ltd. Investment property VBluaYons as at 31 August 2023 are based on that ValL￿tIOn ￿)us￿j by the Hallfax Seasonalty AdJLSt&J Reglonal House Prke Quartety Ind1￿$ published by the Lloyds Banklng Group. In ackjltlon, t￿ Estste rryrtles ha￿ teen ￿th¥ed for i￿ntIal Impalment based on thelr coTrJltton, oc£uparKy and comparative Val￿ of slmilar proFerUes sold on the Sdvements or In local area. One kyopety was l(1entffied where Impairment was C￿￿dered Ilkely arKI Its Val￿ has b￿n adjusted accordlrKJly, On 8 May 2024 the Isjse on the frymu txkbrook Sdwl proFertles was $￿Jr￿d and an I￿￿al Wdluaoon based on the present value of future rerstsl IrKome of ext*rted costs for those prO￿rt￿$ was carrfed out In holtse. Thls resulted In a consemtrve esttmate for those wopertles of £4,750,ocKI and Is reflected In these accounts. The Trustees a￿ In the kyfxess of commlsslonlry an Intrndent prOfes￿onal valuatlon to be perfomed on the ockbr￿k S￿￿￿1 propertles arm1 cl the Irftrtstma)t prowty wthllo In general. 11. INVESTMENTS Group P•r•nt Tot•1 2023 Totsl 2022 Tot•1 2023 Total 2022 171,248 LISTED INVESTMOITS car￿ng Value at 8eglnnlNJ of year Addlvons DisP05al Pro(2eds Reallsed Gblnsl{Losses) Unrealised Galnsl(L055es) Canyng Value at 31 Aug¢Jst 2022 5,097,609 978,491 (3,130,955) 99,327 (104,598) £2 939,874 5.S09,107 968,839 (1,194,936) 12,PA)4 198.205) 161,694 35,982 (2,042) 123,382) (2,069) 15,897 £161694 £192,898 The followlng In￿nts irKllvldualty re￿ese￿ n￿re than 5% of the totsl market value of Ih portfdio: Tr tharltles Propwty Fund £420 769 1503 697 12. sfocK Gmup 2023 2022 Moravièn Unlon 20,254 16,706 £47 552 £27 524 Page 27 THE FINANCIAL sfATEM FOR THE YEAR E 13. DEBTORS Group Parent 2023 2022 2023 2022 Trade Debtors Amounts due from related Organlsatlons other Debtors 138,636 255,245 109,752 19,671 99,935 20,332 82,970 245,301 67,128 50,981 105,142 34,816 Agents BalarKes Rtybt D £585 976 £507 367 £129 423 £120 267 14. CREDITORS: Amounts f•lllng I￿• In Iw than one y••r Group P•r•nt 2023 2022 2023 2022 Loans and Ovwdrofts Bank Loans Trade fJedltors Amounts d￿ to ￿lated OrganlsaOor Other Credltors Sc(ial Securlty and other Taxes Accruals aNI Defwred Ino)me Fees In advarKe Hlre Purchase Ccffltract Bates Trust Loan 106,906 124,846 116,369 126,440 67,620 48,316 242,413 1,584 263,448 1,553 40,628 96,847 350,146 925,237 2,073.515 89,748 330,045 861,063 174,804 175,200 £1 695 057 £3 648 116 £486 421 other credlttys In tre wecedlry Ir￿LthJ an advar£e of £1,975,200 from UBS secured agalnst the Investmert portfolKs to èld the mora￿￿1 Unkn's cashflow poslkn. Thts was repald durfrrtJ tr£ current year. Deferred IrKome consists entrdy of fees In a(fv￿￿. Grnup Parent 2023 2022 2023 2022 Balance È*ought forward Rent and S(fvx¥l Fees recefved In advan Released to reven￿ durlrvj the year Bala￿e carfed fOr￿ard 1,063 )7,485 925,237 861,063 £925 237 Page 28 HU 15. CREDITORS: Amounts falling due In more than one year More than Group 2023 Y￿r$ 8ank Loans . Fulneck Stho - MOrd￿an Uni 19,497 22,206 39,7LKI 76,547 21,694 248,191 80,891 346,9H 41,703 52,016 116,247 105,314 269,885 427,835 157,330 Bates Tr￿1 Loan Other fJedltcffs £198,783 £221,561 £269,885 £690,229 M4¥re than Group 2022 yurs ye•r• Bank Loans . Fulneck Sthool - Moravlan UnlcKt 20,511 53,416 160,516 22,566 236,875 96,493 446,835 69,955 52,016 213,932 155,873 259,441 543,328 207,889 8ates TnBt Loan Otltt Credltcrfs £121,971 £369,805 £259,441 £751,217 n Ockbrty)k sc￿ went Into admlnlstratk)n in 2021, Tr Morawan Union as guarantor assumed re5ponslt411ty for Ilatsllty In re* of O(kbrook Sthod's (MJtstsThllrrfJ bank loan balan￿S which amount to £367,676 at the tsalar￿ sheet date (2022: £494,377), of whlch £20,732 was repayable ¥vlthln year (2022: £47,542). Tl* ¢￿tsta￿lIN) loans aTE se￿red agalnst Mothan Unlon pirwty. Ful￿ Sthool has bank loan (2019}, secur8J agalnst the Fulned( Scknl property whKh Is owned by the moro￿an Unlon. At the year£nd £99,445 ranained outslandirwj, of whlch £18,554 wa5 repayabFe wlthln one Durtng 2017 a loan of £500,000 was exterrtled to The Mordvlan Urlon ty trt Mrs EM Bates Trust. The loan was to P￿de lrNestm￿t fvndir¥J to Tr Morwan UnKM to uthtske a fixed asset properties repair programme. The kian Is to be repald over a of 10 years aTrJ Is sKured agalnst Flat 5 Winkjey Court, a property valued at In exces5 cl Interest ts olarged at 2% atxm base rate. Tr loan is Consider￿ a conce551onary loan. Page 29 MORA NOTES IAL YEAR ENDED ATEMENTS 16. ANALYSIS OF NET Assrrs BETWEEN FUNDS Unrertricted Funds G￿eral Deslgnated Total 2023 Funds Group TangitAe flxed assets Investrnents Investment Properties Gish at bank a￿1 In harK Other net assetsl(IlatAiitks) 6,953 1,077,656 2,357.353 171,018 27,143,814 I￿,137 3 885 043 £25 977 279 2.391,929 1,691.200 4,756,235 2,939.874 27,143,814 1,325,993 4 695 225 £31470 691 1,002,581 810 182 £1277 OC48 133,275 £4 216 404 Parent Tarvjlble flxed assets Investments Cash at bar* and In ha￿1 Other net assetsl(Ilabllitles) 355,279 192,898 888,617 356 998 £1079 796 355,279 192,898 919,341 30,n4 £1110 520 2022 Unr••trfrted Fundi Gon•ral De•lgnated Total 2022 Fund• Group TarffJlble fixed assets Lnvestrnents Investment Propwdes Cash at bank and In hand Other net assetsl(1Sabllltles) 10,507 1,936,39J 611.381 141,044 2 237 645 £461677 1,608,943 307,295 26,206.086 240,9J4 3 593 441 £24 769 787 2,517,T37 2,853,924 4,137,187 5,097,609 26,817,467 1,160,678 7 429 001 E29 783 940 778,730 1597 915L E4 552 476 Parw TaroltAe flxed assets Invesknents Cash at bank and In Ots net asset51(11at￿i1t1e5) 363,003 161,694 853,183 363,003 161,694 883,124 28,455 £28 455 £1009 630 £1039 571 ? Page OP*m W*¢￿1￿ yii 4W Iiliiiiii Iiil Iiiiillil I Ill Paqe 31 In￿rnv>￿ i r Lny I 111 111 Ip ££ IIIiisig Iiil Iiiillil I Iii zz page 32 ATEME ED 17. MOVEMENTS ON FUNDS (Contlnued) broad PLrrws of the maln re&rkted arKI (*5kJnated funds of ihe group are as fdk)ws: Evan9elKal- to fvrther the relhJkJLS cblectfves of the ￿t{a¥L￿n ￿￿rth. m￿lSte￿ errL)IwY*nts- to surpjrt pawrent of mln*erf aryl co#s; Education- towarts ed￿atIonal wrp05e5; c￿er$eaS- to fund overseas provI￿e$ mlssthary wth; ProFerty- congegatknns funds from sle of fv￿thnal kNrixrty re￿rthd wJpety ￿ ty the 0)￿rega￿on. Relw of ￿rty- to fund g￿nts al￿ gJFWt fcfj the of p)verty: aThY 0￿r- thls is m* up of nunErows ynall re51Jkted &￿tIonS to fuThJ 5pth thties at conwthns. Deslgnatsdlund4 tWinet1 Peneftt Pen5tm Sckn* Fwxl . represert5 ts ￿ue cl the unfijnded defhyt ￿ the 9)lew* (N)te 1811)). trdnsler to thb lund ￿lects pakl durfrwj tr* )*ar,' Mknlsterg erndu￿￿nts- to siw the paYr[￿t sWr4Js arKI olated costs; ProFerty- represerts the net value crf fU￿￿C￿al Nor*rues ènd cthr fvnds deshJnated for propErty projeits at congrewns but ￿k1 w￿h1n the P4Jra¥lan Unkn a5 the Churth's awt fvjkllrg tody, The transfer In tl* ojr￿rrt year ts to lund an oNfrspend: investnEnt proterty c05t and In¥E*n*nt wcyety revaluatknn reseTh*s- rewesert In aggregak the catyThJ value of Investment prowrt*s adJ(L*e(l ty transfer tr outstsndlTrJ loan5 5￿uled ¢)n those proFerties' Other . thls Is made up of numerous ynall <*shJnaled res￿ kn furyl spedft xtmiles at coriJregatth: and 18. OBUGATIONS UNDER OPERATING LEASE AGREEMENTS FOR EQUIPMErir Group 2023 2022 The total of future lea￿ payr[￿ under fr)Ka￿elatsle yraurg ses for each of the folkh¥lr4 are: Less than One Year Beh¥een One and FNe Yea After rn0￿ than Years 63,978 77,652 991 £142,621 46,820 991 ) obllgailons •tse in the Ffj￿rt. Page 33 NOT TEMEKr NDED 19. PENSIONS The Mordvlan Churth thrwjh Mrxavlan U￿On otwates three pensi￿ sdRmes, (l) Defin&1 tenefft per61on stheff Undw thls sLfieme dlscretionary penslors were pakl to retlred minlsters In service prk)r to 31 August 2010 in accordan￿ wlth the ru￿5 estsbllshed by SY￿￿, wovided xffident funds were available. The assets used to pay t￿ pensions a￿ not held separately from other fuTrJs of tr* Charltable Company. As a result of a resdut5on passed at the 2016 Britlsh Prow'ncial SwKé, Tr Mora￿an Unbn has rec￿nIsed these pens￿n5 as an obllgatlon and an actuarkl Valua￿ of tt* liatllity was obtsln&J as 31 ALMJUSt 2023. Employee b•n•fft obllg•tlon• the Mornvl•n Churth In ralp￿t of the Llablllty The amounts recognlseAI In the BalarKe a￿ as follrh¥S: 3110812023 3110812022 Falr value of Uabllity Assets P￿sent valLE of fvnded 0￿￿gatIOnS Net {uTrJer)loverfundiro of ￿a￿lIty 3 564 559 Ur￿eCc9n15ed assets Net Defined Benefit LiatMIIty £ (2,946,467) £ (3,564,539) amourts reccMJrdsed In the Ststement of Flr4ndal ArtIV￿ are as follch¥S: 3110812023 3110812022 Cost of benefit changes Ojrtailment costs l (galns) Settlement costs l (galns) Net Interest on Net Defined Befrfit Liatility Expense recogni5ed in Profit or Loss £140 250 £73 739 Page 34 TOTH 19. PÉNSIONS (Cononwd) Mora￿an Unk)n cortrlbuted £287,656 to fuTKJ p￿Tn￿t of bwEfits over the year from l &ptemL 2022 to 31 August 2023. No contrliKthns wwe made by members over tr￿ pwlod as the UaLllity Is an unfijnded arrBngemenL No cOnt￿l￿￿10n$ a￿ exk*tted frtyn ￿ Churth or from members over the next year from I September 2023 to 31 August 2024. The Ilatllty Is unfurkled, are pald dIr￿dY by the Mora%Aan Unlon. Ch•ngu In th¢ pruent value of the UabllW• Defined Bw•lt Obllgatlon are as follows: 3110812023 3110812022 Openlng Defir￿ Bereftt Obllga Servlce cost ContrtbutlorB by rrthibers Cost of benefit charrtjes Curtallment Costs1 (galrts) UabllltÈs extlrrtjulshed on settler￿ts Beneflts paid irterest on obllgatk Expedence bsses l (galns) Losses l (galns) from thanges In asS￿p00r a051ryJ Defined Benefit Obllgath)n 3,564,559 4,742,688 (287,656) 140,250 56,678 1268,027) 73,739 135,OD5 £3 564 559 wdghted a%eRge dLratk*n of the Ilabllities of ts Uabllty was 9 y63rs as at 31 AugLtst 2023. Employ•• Bw•fft Obllpdons for Th• Moravlan Unl•)Tr In R•spect of th• Uablllty Changes In the falr value of the assets are as follcfy¥s: 3110812023 3110812022 o￿nIng falr value c+ Uablllty assets irterest on assets Retum on assets {r￿t Ind￿ In lrtuest) Assets dIst￿buted on Sett￿Me Contributions by Mordvlan Unlon Conthbutions by memters Benefits pakl Almlnlstravon expenses aosng fvir value of Uablllty assets 287,656 268,027 (287,656) (268,027) page 35 MORAWIA IA EAR END nti 19. PENSIONS {Cortlnued) prtndpal actLwrfal assumpb'ors used fly the mc6t wrt FRS 102 d1￿10￿Jres'. 3110812023 3110812022 DISCO￿ rate at e￿1 of year Dlscount rate at stsrt of year Rats of increase In deferred perslons (LPI 3%) Rate of Increase In deferred perslons (LP14%) Rate of Increase In penslons In payment (LP13%) Rate of Increase In pen￿On5 In paYTr￿nt (LPI 4%) 4.10 4.10 3.10 2.60 3.10 2.70 Mortsllty Assumptlon¥ The mortalty assumpttons are bawl on standard mortslty tsbles whkh alIcy￿ for future mortallty improvemerts, The assumptityis a￿ that a member &Jed 65 wlll lfve on average un￿1 age 87 If they are male and age 89 If female. For a memLEr ojrrendy aga 50 assumpuons a￿ that If attaln age 65, ty wlll lfve on average untll age 88 if tw a￿ male aNI u)tll age 90 if female. (11) Artlve minlsters defined contrllythn Sd￿rne Wlth effett from 31 December 2015 the dlstretlonary stheme fry acfjve mlnlstws was dlsc0nt1nL￿ and replaced by a defined contrlbtthn scheme. Benefit enOUements at 31 De￿mber 2015 U￿￿er the prevlous scheme, whlch wwe recognlwj as obligatlons ty Syn(xl durfng the precejlng year, have ￿en calojlated and nf1ex linked to retlrement, capped at ethr 386 or 4%, as part of the artuartal valuat50n. (111) Other employEes personal pen5kn plans Other emtAoyees I￿)1d Fen￿￿ ￿an$ and contribute at rates ttwn by themselves. The Moravlan Unlon contrfbutes 7% of pensionable salarfes to each plan. Tr emptyerfs ￿trIbU￿on in the year was £20,39412022: £19.015). Up untll t￿ 31 ALbJUSt 2023 the pa￿dpated In the T&Ktrws' Petwon Sd￿me (ErvJland and Waks) TPS.) for Its teachlrvJ staff. TPS Is an unfunded M￿￿Mployer deftn&J benefits pensk)n stherne governl by ￿ Teachers, Penslons Regulatlons 2010 and. from l Aprll 2014, the Teachers, Perts1￿ Scheme Regulabons 2014 (as amended). Memters contrfbute on a "pay as you go" basis wlth C￿￿tr￿onS from membws employer belrrfJ uedlted to the Extyuw. Retfiremert and other perts￿n ￿nefits are pa*J by wblic fijnds provided by Parllament. Page 36 THE FINAN AL ATEMEN 19. PENSIONS (Contlnued) The emptyer ¢)JntdtsAon rate Ls set fdlowlrKJ sd*me fdluatkns wthrtsken ty the Govwnnwt Athary Departsnent on a four.year cyde. Tr latest valuatlon ret4xt In respett of the Trs relevant to ftJlned( SdKN)I was prepa￿ at 31 March 2016 was publlshed In Marth 2019. Thls valuatlon confirmed that employer contribution rate would k 23.68%. Induslve of a s(t￿rne admlnistTakn levy of 0.0886, wbth effett from I September 2019. A new Valua￿on rep￿t was prepar&J as at 31 March 2020 arml published in October 2023. It wlll not affert the SCI￿1 whld) wlttMlre44 frorn the &Swne wlth effect from 31 August 2023 as I￿reaSed emptoyer rates do not tske effert until Aprll 2024. Additiorkil detsAs on the scheme are I￿luded In the audited financkil staten￿ts of Fulned( S(trthl. The penslon charge for the year Ir￿ludeS contrlbuiions paydble to ￿ Trs of £292,161 (2022.. £315,239) arKI at the year*nd £34,070 (2022: £32,591) was acou￿ In resp&t of c￿tAbU￿On$ to thls stheme. Per￿1(￿ costs for the year are d1th5ed In rth 8. Opt Pen#lon• Fulne& Schod partfdpates kn a gJPVOrt stsff ￿t￿me thatls regulated ty Opt Penslons whith Is an auto enrolment scheme whereby the 5chcol (￿t￿buteS 5% of gr￿5 eamlrvJ5. The penslon charye tr the ythr Ind￿ contrlbjtiors payabie to Opt Pensions of £27,722 (2022.. £32,65)). 20. RELATED ORGANISATIONS Two ofthe Moravlan ￿UrCh s Trustees a￿ al￿ Tnjstees rf the LryKlon Issodavon In AK1 of Moravlan Mlsslons. The charlty Is the prfncjpal be￿ffl￿ary of the Income of lfv Mrs E M Bates Trltst and SO￿ beneflaary of the London Asgxlatlon In Ald of Moravian Missions, charities estsbllshed for the benefft of the Moravlan Church. Ndther organlsatson Is consIder￿1 a member of The Mora￿an (hurch gro￿. The group recelved the followlrKJ amourts from related partjes durfrwj the po1(xl: . 2023 2022 Mrs E.M. Bates Tn £365 101 £333 956 The London Mis51on In of M(￿a￿an Mlssbns At 31 August 2023, the follthylrKJ balarKes We￿ (￿r$raThY￿J.' . Due frixn Mrs E.M. Bate5 Trust £125 065 Due to Mrs E.M. Bates Tntst £207 777 £258 825 Page 37 THE FINANCIAL HEY DED 21. COMPARATives FOR THE sfATEMEtir OF FINANCJAL AmVmES Total 2022 GeTh￿l Designated Funds Inc4Jme and endry*m•nts L>)nations and Leg￿eS otherTradkng P£tMtks Invesiments ,238 74,571 1,261,494 74,571 1087 182 2,423,247 1.2(V).517 15,333 1.198,397 Charitsbh Other Tot•1 Inconv4 46.439 652 410 7,010 3,898,303 3,951,752 652 410 Exp•ndtur• On: Ralslng Fund• F￿draIsIng tradlThJ'. cost of g¢bJs scAd and Ot￿ costs (124,165) 1124,165 IT29,$79) (2,310) 1182.004) 4 752 768 1913,893) 6 546 772 7 460 665 ChaTltabl• A