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2023-12-31-accounts

Charity registration number 1006077

THE JOHN W DOORLY TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

THE JOHN W DOORLY TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Miss D Dillon
Mrs C Rosenthal
Ms C Towers
Senior management Ms C Towers Chairman
Miss D Dillon Honary Secretary
Mrs C Rosenthal Trustee
Charity number 1006077
Principal address 21 Clockfield
Turners Hill
West Sussex
RH10 4AR
Independent examiner Oliver Read FCCA ACA
James Todd & Co Limited
1 & 2 The Barn Oldwick
West Stoke Road
Lavant
Chichester
West Sussex
England
PO18 9AA
Bankers Natwest Bank PLC
Knightsbridge Branch
186 Brompton Road
London
SW3 1HL
Investment advisors BlackRock Investment Management (UK) Ltd
12 Throgmorton Avenue
London
EC2N 2DL

THE JOHN W DOORLY TRUST

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 16

THE JOHN W DOORLY TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The Trust is established for the advancement of religion in accordance with the teachings of John W. Doorly as a pioneer in the research of Christian Science and its practice as a pure Science of Christianity and in furtherance of the Charitable Object the Trustees may:

During 2023, in furtherance of the above objectives, work on The John W. Doorly Trust website was further updated.

The Trust’s publications are available for purchase at subsidised prices, and a range of free material continues to also be on offer.

Such free material will either be physically sent out by mail as and when requested, or it is offered for free online reading and/ or download.

The website is kept up to date on a regular basis and is accessible for all standard modern electronic devices (PC, tablet and smartphone).

The website of The John W. Doorly Trust significantly enhances worldwide access and promotes the study of the teachings of John W. Doorly.

Work on The John W. Doorly Archive continues to be ongoing.

This will ensure that the Archive material will be available and accessible for future educational and research purposes/ projects.

During 2023 and going forward, work continues on editing the transcriptions of the Peggy Brook Summer Schools with a view to publishing them as intended by Peggy M Brook, one of the founders of The John W. Doorly Trust.

THE JOHN W DOORLY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Public benefit

The Trust is established for the advancement of religion in accordance with the teachings of John W. Doorly as a pioneer in the research of Christian Science and its practice as a pure Science of Christianity and in furtherance of the Charitable Object the Trustees may:

By these publishing and educational activities and maintaining a comprehensive website, the Trust ensures worldwide public access to John W. Doorly’s works and teachings.

This worldwide public access promotes the understanding of the contribution of John W. Doorly to the Science and system of Christian Science.

This enhanced understanding of the Science of Christian Science contributes to a constructive dialogue between the conception of the world as described by the Science of Being and the worldviews of other scientific disciplines.

This dialogue contributes positively to the world and has no harmful effects.

The organisation aims to benefit the general public on a worldwide basis. The benefit is not restricted in any way to any particular section of the public and no-one is excluded from the opportunity to benefit irrespective of the level of their income. Whilst printed literature is generally sold to the public, free copies and subsidised copies are available to those unable to pay. There is also a body of free literature, as well as free second-hand literature available on the Science of Christian Science.

In addition, all works by John W. Doorly, Peggy M Brook and selected works by other authors in conformity with John W. Doorly’s teaching of the pure Science of Christian Science are published in electronic format on the website of The John W. Doorly Trust for free online reading and/or study download.

Talks and Summer Schools on the Science of Christian Science, the Bible and John W. Doorly’s teaching of the pure Science of Christian Science have also now been made available for free listening/download via the website of The John W. Doorly Trust.

Free material as described above will either be physically sent out by mail as and when requested, or it is offered for free online reading and/or download. If sent out by mail, all postage rates are subsidised in significant measure by The John W. Doorly Trust.

Students are also generally supported free of charge with regard to any questions they raise in connection with their research work, studies or the materials / media offered by The John W. Doorly Trust.

The Trust’s activities do not lead to any private benefits.

THE JOHN W DOORLY TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

Significant activities and achievements against objectives

In 2023, in furtherance of the objectives of The John W. Doorly Trust, work continued on The Trust’s new website. This is now managed and maintained via a professional website company. The revised website is kept up to date on a regular basis and is now accessible for all standard modern electronic devices (PC, tablet and smartphone).

The new website significantly enhances worldwide access and promotes the study of the teachings of John W. Doorly.

2023 also saw work continuing on The John W. Doorly Archive in order to achieve a user friendly and searchable database as well as to ensure that the Archive material will be available and accessible for future educational and research purposes/ projects.

During 2023 and going forward, ongoing work continues on editing the transcriptions of the Peggy Brook Summer Schools with a view to publishing them as verbatim reports in due course as requested by Peggy M Brook, one of the founders of The John W. Doorly Trust.

The new book storage premises which were moved into during 2021 have proved to be an improvement in accessibility for Trustees, with a reduction in annual running costs for The Trust. The rental contract is renewed annually and provides enhanced security for the books.

Financial review

During the year, the Charity saw an increase in income to £29,292 (2022: £21,322). Expenditure also increased to £17,789 (2022: £8,436), leaving a surplus in the year of £11,503 (2022: £12,886).

The balance of reserves includes fixed assets of approximately £518, together with investments with a market value of £599,803 which are held to generate income for the charity.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to two year’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Free reserves are currently just below this level as the Charity are reliant on the portfolio of investments for its regular income.

Funds are invested with the charity’s fund manager, Black Rock Fund Managers Limited, from whom the Trustees receive information and advice regarding the performance of the charity’s investments. The performance of the Trust’s investment to date has been reviewed with the fund manager and Trustees are satisfied with the advice they received during the current economic downturn in the global stock markets, particularly as the investments have further recovered the loss in value experienced in the last few years.

Structure, governance and management

The John W. Doorly Trust is set up by Deed of Trust dated 17 October 1991. The Charity is a charitable trust. The Trustees are appointed as per Section 9 of the Deed of Trust.

All Trustees must be students of Christian Science who sincerely value the works of John W. Doorly. This ensures the continuity of the Trust and keeps the mission of the Trust focused. There is a requirement for a minimum of three trustees.

There are no subcommittees, or independent advisors appointed by the Trust on a permanent basis although if required such assistance can be discussed by the Trustees. All Trustees bear joint responsibility and decision making is a joint process decided by democratic vote. The chairman has a casting vote.

The major risk to the success of the Trust is the maintenance of the books in print, or in a format acceptable to the public generally. The Trust maintains a Risk Register of any risks, the controls in place to mitigate those risks, and the document is formally reviewed at least annually.

THE JOHN W DOORLY TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees who served during the year and up to the date of signature of the financial statements were: Miss D Dillon

Mrs C Rosenthal Ms C Towers

Funds held as custodian trustee

None held as Custodian Trustees.

The Trustees' report was approved by the Board of Trustees.

Ms C Towers

Trustee

2 April 2024

THE JOHN W DOORLY TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE JOHN W DOORLY TRUST

I report to the Trustees on my examination of the financial statements of The John W Doorly Trust (the Trust) for the year ended 31 December 2023.

Responsibilities and basis of report

As the Trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Oliver Read FCCA ACA James Todd & Co Limited 1 & 2 The Barn Oldwick West Stoke Road Lavant Chichester West Sussex PO18 9AA England

Dated: 2 April 2024

THE JOHN W DOORLY TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Unrestricted
funds
funds
general
investments
2023
2023
Notes
£
£
Income from:
Charitable activities
3
432
-
Investments
4
28,860
-
Total income
29,292
-
Charitable activities
5
17,789
-
Net income and movement in
funds
11,503
-
Reconciliation of funds:
Fund balances at 1 January 2023
101,606
563,192
Fund balances at 31 December
2023
113,109
563,192		 Total
Unrestricted
Unrestricted
funds
funds
general
investments
2023
2022
2022
£
£
£
432
957
-
28,860
20,365
-
29,292
21,322
-
17,789
8,436
-
11,503
12,886
-
664,798
88,720
563,192
676,301
101,606
563,192		 Total
2022
£
957
20,365
21,322
8,436
12,886
651,912
664,798

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE JOHN W DOORLY TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one year
Other creditors
13
Net current assets
Total assets less current liabilities
The funds of the Trust
Unrestricted funds - general
Unrestricted funds - investments
14		 2023
£
5,690
72,521
78,211
2,231		 £
518
599,803
600,321
75,980
676,301
113,109
563,192
676,301		 2022
£
363
61,799
62,162
1,572		 £
7,003
597,205
604,208
60,590
664,798
101,606
563,192
664,798

The financial statements were approved by the Trustees on 2 April 2024

Ms C Towers Trustee

THE JOHN W DOORLY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

The John W Doorly Trust is a charity registered with the Charity Commission of England and Wales, number 1006077. The Chartiy is governed by a Trust Deed dated 17 September 2011, as detailed in the Trustees' Report.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Trust's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Trust is a Public Benefit Entity as defined by FRS 102.

The Trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

These financial statements are prepared on the going concern basis. The Trustees have a reasonable expectation that the Trust will continue in operational existence for the foreseeable future, however, the Trustees are aware of certain material uncertainties which may cause doubt on the charity's ability to continue as a going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Designated funds in the Balance Sheet represent the value of the long-term investments held to generate income for the Trust. Since the investments are not freely available for use in the funding the day-to-day activities of the Trust, the Trustees consider that it is appropriate for the reserves represented by these investments to be separately distinguished in the Balance Sheet.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Trust.

The Endowment fund represents an archive of original works by John W. Doorly, as well as other books which the Trust is committed to preserving. This collection of books and papers was bequeathed as a permanent endowment to the Trust several years ago, although a value cannot be put on some items in the collection. As there is some uncertainty over this valuation, it has not been included in the accounts.

THE JOHN W DOORLY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.4 Income

Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 5 years straight line Computers 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the Trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE JOHN W DOORLY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.10 Financial instruments

The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the Trust’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE JOHN W DOORLY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

3 Income from charitable activities
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Operating Sales
Sale of books 432 957
4 Income from investments
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Income from listed investments 26,255 20,365
Revaluation of investments 2,598 -
Interest receivable 7 -
28,860 20,365

THE JOHN W DOORLY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

5 Expenditure on charitable activities

Operating Operating
expenditure expenditure
2023 2022
£ £
Direct costs
Depreciation and impairment 6,485 -
Book store rent 6,618 5,594
Printing, postage and stationery 496 525
Travel 1,345 25
Computer costs and website design 1,041 839
Currency exchange (gain)/loss 70 (149)
Bank charges 18 -
16,073 6,834
Share of support and governance costs (see note 6)
Governance 1,716 1,602
17,789 8,436
Analysis by fund
Unrestricted funds - general 17,789 8,436
6 Support costs allocated to activities
2023 2022
£ £
Governance costs 1,716 1,602
Analysed between:
Operating expenditure 1,716 1,602
2023 2022
Governance costs comprise: £ £
Accountancy 1,716 1,602
1,716 1,602

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.

THE JOHN W DOORLY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10 Tangible fixed assets

Fixtures and
fittings
Computers
£
£
Cost
At 1 January 2023
905
11,074
Disposals
-
(6,758)
At 31 December 2023
905
4,316
Depreciation and impairment
At 1 January 2023
835
4,141
Depreciation charged in the year
70
6,415
Eliminated in respect of disposals
-
(6,758)
At 31 December 2023
905
3,798
Carrying amount
At 31 December 2023
-
518
At 31 December 2022
70
6,933		 Total
£
11,979
(6,758)
5,221
4,976
6,485
(6,758)
4,703
518
7,003

THE JOHN W DOORLY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

11 Fixed asset investments

Listed
investments
Unlisted
investments
£
£
Cost or valuation
At 1 January 2023
415,581
181,624
Valuation changes
45,558
(42,960)
At 31 December 2023
461,139
138,664
Carrying amount
At 31 December 2023
461,139
138,664
At 31 December 2022
415,581
181,624
12
Debtors
2023
Amounts falling due within one year:
£
Other debtors
5,690
13
Other creditors falling due within one year
2023
£
Accruals and deferred income
2,231		 Total
£
597,205
2,598
599,803
599,803
597,205
2022
£
363
2022
£
1,572

14 Unrestricted funds - investments

These are unrestricted funds which are material to the Trust's activities.

At 1 January At 1 January
At 31 December
At 31 December
2023 2023
£ £
Investments 563,192 563,192
Previous year: At 1 January
At 31 December
2022 2022
£ £
Investments 563,192 563,192

THE JOHN W DOORLY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

14 Unrestricted funds - investments

(Continued)

Designated funds in the Balance Sheet represent the value of the long-term investments held to generate income for the Trust. Since the investments are not freely available for use in the funding the day-to-day activities of the Trust, the Trustees consider that it is appropriate for the reserves represented by these investments to be separately distinguished in the Balance Sheet.

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January At 1 January Incoming Resources
At 31 December
At 31 December
2023 resources expended 2023
£ £ £ £
General funds 101,606 29,292 (17,789) 113,109
Previous year: At 1 January Incoming Resources
At 31 December
2022 resources expended 2022
£ £ £ £
General funds 88,720 21,322 (8,436) 101,606
Analysis of net assets between funds
Unrestricted Unrestricted Total
funds funds
general investments
2023 2023 2023
£ £ £
Fund balances at 31 December 2023 are represented by:
Tangible assets 518 - 518
Investments 36,611 563,192 599,803
Current assets/(liabilities) 75,980 - 75,980
113,109 563,192 676,301

16 Analysis of net assets between funds

THE JOHN W DOORLY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

16 Analysis of net assets between funds (Continued)
Unrestricted Unrestricted Total
funds funds
general investments
2022 2022 2022
£ £ £
Fund balances at 31 December 2022 are represented by:
Tangible assets 7,003 - 7,003
Investments 34,013 563,192 597,205
Current assets/(liabilities) 60,590 - 60,590
101,606 563,192 664,798

17 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).