REGISTERED COMPANY NUMBER: 02994834 (England and Wale5) REGISTERED C71ARrrY NUMBER.. 1043015 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR ITrIE TEMENOS ACADEMY THE TEMENOS ACADEMY CONTEN75 OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2023 Page Report of the Trustees Independent Examiner's Report Statement of Financlal ArtNities Balance Sheet 9 to 10 Notes to the Financial Statements 11 to 17 Detailed Statement of Ftnancial Activities 18 to 19 THE TEMENOS ACADEMY REPORT OF THE TRUSTEES for the Year Ended 31 December 21J23 The trustees who are also dlrectors of the charity for the purposes of the Companies Act 21X)6, present their report wSth the financial statements of the tharfty for the year ended 31 De￿rnber 2023. The trustees have adopted the provislons of Accounting and Reporting by Charitie5: Statement of Recommended Practlce appllcabte to charities preparing their accounts in aecordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} {effective l January 2019). OBJEcnvES AND ACtIVTTIES Charltsble Objects The Dbjects of the charity are: To ad￿nCe education by the provision of educational fadlities to the public in the general context of the hurnanities with emph35is on the study of philosophy and the arts in the context of the world'5 major religious and 5pirttual traditions. Artivlties The Attivities of the char-rty are set out in detail in Article 4 of the Memorandum of Association. The trustees are aware of the Charities Commission Guidance on Public Benefit and have complied WFth their duty to have due regard to the Chartties Commisslon's public benefit guidance, when exercssing any powers or dutles to which the guidance is relevant. The trustees confirm that during the year all donations received. all investment income re￿ived. and some capital, were used to fund the charlty's prograrnme, described below. Durlng the period of 2023 the Temenos Academy organised 18 publlc lettures, includlng a serles on 'Love and the Ima8in?tion'. 36 seminar Study sesslons a Temenos Academy Young Scholars Study Dayi a Study Day at the iampeter Campus of the University of Wales Trinity Salnt David in association with the unlverslty's Hamony Programme the fifth John Mlchell Study Day, and continued teaching the Foundation Course in the Perennlal Phllosophy. The programme of lectures comprised 'Fi5hernian and Crofters: A Pattern and a Harmonv by Hllary Davies; 'Christopher Wood: Talent and Confllct, by Frances Spaldin& 'Reynolds Stone: Engraver, Lecturer and Painter, by Humphrey Stone." 'Art of Mandala. by Daniel Docherty; 'Craft Practlce as an Expression of the Perennlal Philosophy, by Dr David Cranswick. The Cosmos in Stone: 'On Earth as it is In Heaven, by Tom Bree", 'Kathleen Ralne: Archltert of Paradise, by Professor Claire Garnier-Tardieu; The Transforrning Power of Love in Islamlc Mystical Thought, by Jane Clark.. 'A SurprEsed Whole: Loving the Dust of the Universe. by Dr Tom theetham; 'Shake5peare and Astrology. by Priscilla Costello; 'The Llon and the Nightingale: A Defence of Romantlc Love, bv Dr Martin Shaw A Quest for Wlsdom how do we craft a philosophy for lrfe?I by David Lorimer,; 'Love as a Cosmological For￿, by Professor Ravi Ravindra. 'Orallty and Symbolism as Repositories of African Knowledge of the Self by Dr Elvis Imafidon: 'Every Thing That Lives 15 Holy: William Blake. Imaginatlon and the Love of the World, by Dr Valentin Gerlier. The Journey After Death, by Sandra Hlll,- 'Art and Enchantm¢nV by Dr Patrick Curry: 'Faces of the Infinite: Neoplatonism and Poety at the Confluence of Africa, Asia and Europe, by Professor Stefan Sperl. Four lecturer5 were invited from abroad: Ravi Ravindra (Canada). Priscilla Costello (Canada). Claire Garnler-Tardieu (Frnnce) and Tom Cheetham (USA). The Temenos Academy Young Scholars Day, for 18-35-ye3r-olds was on the theme of 'Attention and Ritual.. The Keynote speakers were Dr Elizabeth Powell and Dr Rupert Sheldrnke. The very su¢ce&5ful Study Day, In collaboration wilh the Harmony Programme of The University of Wales Trinity Saint David. was on the theme 'fime and ride: VoyaBin£ in Enchanted Land5cape5'. The talks were 'St. Columba and the Poetlc Imaglnation. by James Harpur, Twelve-Fold Harmony: Symbol and Place. by a)ri5tine Rhone. and as serie5 of storles under the title 'A Consolation of Star5, by Hu8h Lupton. The fsfth John Mlchell Study Day at the Art Workers Guild was an excellent event. We would Ilke ts¥ thank Chrlstine Rhone for her efforts in helping organ￿e the day. The speakers were Tom Bree, Guy Hayward, Profe550r Ronald Hutton, Chrlstlne Rhone & Adam Tetlow. and Cheryl Straffon. The seminar courses th*ere Shakespeare's Juliu5 Caesar taught by Dr Joseph Mllne (30 seminars),. and Wi1Siam Blakes'5 Songs of Inn￿nCe and Experien￿ taught by Dr Susanne Sklar. Page 2 THE TEMENOS ACADEMY REPORT OF THE TRUSfEES for the Year Ended 31 December 2023 The year Saw the publication oflssue 26 of Temenos Academy Review, edlted by Professor John Careyi Jame5 Narpur and Dr Donlel Samuel. The Review 15 4 journal of Just under 300 pages. It contains articles, poems, book reviews, obituarles and colour illustrations. The Council wr5hes to acknowledge the 5UPPQrt of Professor Klm Samuel vtho genÈrou51y finances the publication of the Review. In 2023, Temenos alsD published the first Temenos Academy Dissertation Dante, Love and the Divine Feminine. This was authored by Rob2rt Harris who completed the Study Year of the Foundation Course and whose dissertation constituted the inaugural I￿Ue of the planned series. The Archive settton of the website was further enlarged by the addition of more audlo and vldeo recordings of the past lectures. The Temenos Academy runs the Temenos Academy Young Sthlars essay Scheme open to anyone aged 18-35. The 2023 Thetis Blacker Temen05 Batlk Scholarshlp, an award of £2.000 made everytwo year5 in assoclatlon with the Batik Guild, wa5 won by Umml Junld for her research irto batik-making uslng natural and waste materlals In Kelantsn. Malaysia. The trustees would also like to thank Mr Stephen Overy and Mrs Genevieve Overy for thelr administration of the Temenos Academy from tt5 foundation until June 2023 when they both retired. A party w35 held in June to mark the event. PATRONAGE On the death of Her Majesty The Queen and the accession of His Majesty King Charles 111 to the throne. the former prin￿ of Wales ceased to be Patron of the Temen05 Academy. The charty has been Informed that st will be contacted On￿ the Royal Household has Conducted a review of Royal Patronage. HNANCIAL REVIEW Prfncipal funding sources During the year the charity'5 principal funding Lame from its investment wrtfolio. general donations memberships donations for specific projects, and frorn fees for courses. lertures, and seminar5. The investment porrfolio was established after the bequest from Thetis Blacker In 2008 and has been managed by RBC Brewin Dolphin. After suffering financial losses in 2022 and the first half of 2023 the decision was made by the Council to withdraw our investments with 8rewin Dolphin. In October 2023 we wrthdrew our investments with Brewln Dolphin and transferred the moneyto our regu5ar bank accounL In September 2023 we launched a fundraising appeal. Thi5 conslsted of 3 fundraising appeal newsletter to the IOOC members of our newsletter mailing list, a letter to all Fellows of the Temenos Acaderny, and a public appeal to an audience gathered for a celebration of the ten-year anniversary of the running of the Foundatlon Course. The trustees are extremely grateful for the financial 5UPPOrt the Temenos Academy recelves from prOfe￿Or Kim Samuel, and from all other donors," from Sir Alan Parker for allowing the free use of rooms at The Llncoln Centre at Brunswick Group• from those who have klndly hosted vlsiting speakers: and from those who have voluntarlly gtven theirtirne and every to the work of the charity. Page 3 THE TEMENOS ACADEMY REPORT OF THE TRusfEES forthe Year Ended 31 December 2023 RNANaAL REVIEW RISK MANAGEMENT sfATEMEKr The activltles of the charlty are not complex: they are educatlonal, limEted to courses of Studyi lecture and semlnar mÉetin£s. publications and a website, and the award of the Theti5 Blacker Batik Scholarship. The trustees are aware that the prtntipal rlsk to the Temenos Academy is finantlal - l.e. the need to secure enough fundlng for its programrne and adminlstratlon. The maln sources of fundln8 have been from the portfollo of Investments managed by Brewln Dolphin, membership. donation5, and fees for courses lecture5 and seminars. The investment portFolio Nvas managed by Brewin Dolphin on a discretlonary basis and according to their Risk Category 3. whlch Is likely to have low market volatllity and reduced rlsk of capital eroslon. The artivities of the tharlty are limited by an annual bud8et approved by the trustees. The trustee5 review the financial position every quarter as reported in the management accounts and at trustee meetlngs. The chief priorftles are: i. to ensure fijndlng of the programme and adminlstration of the charity, by monltoring the management of the portfolio, and ende3vourin8 tts rnaintaTn and build upon its existing donor base ii. Increasing publlc awarene55 of Its work and Involvlng new members 111. renewlng and increasing Èndovrnent to secure the long-term future of the charity The trustees are also aware of thÈ other potential risks and of regulatory requirements, monitor thern at meetings and have them constsndy in mind. The charity ha5 a dear and efficient operating strutrture. The composttion of the Council and the rest of the organisation is diverse in terms of gender, ethnicity, and soclal background. The charlty has written pollcSes coverlng key areas of risk including PrNacy and Safeguardin& it has controls over the use of bank accounts and the payment of fee5 and expenses" It conducts an annual review of financial contrvts. It has a detsiled, regularfy updated Operatlng Manual that describes all admlnlstratlve Pro￿dureS so that these are known In the event of a change In key personnel. FufuRE PLANS The trustees look forward to continuing with a full pro8ramme of lectures. semlnars and study days• to fiirther collaboratlons with other organisations. and to maximizing the public benefrt of the chartty. srRUCIURE. GOVERNANCE AND MANAGEMEKr Governing documert The charlty Is controlled by its governing document, a Memordndum & Artides of Assoclation, arbd constitutes a limited companyi limited by guarantee, as defined by the Companies Art 2006. Remiitinent and appolnknent ol new trustee5 The trustees may resolve ta appolnt new trustees. Page 4 THE TEMENOS ACADEMY REPORT OF THE TRUSfEES forthe Year Ended 31 December 2023 STRUCTURE, GOVERNANCE AND MANAGEMEKr Organtsational strurture The Council controls the charity. Day-to-day administration is in the hands of the adminlstrators, one of whom attends meetings of the Council. The trustees meet pursuant to the Artides, with one meeting being the Annual General Meeting. The Chair lia1￿ with the admlnistrators to oversee the day-to-day running of the charity. The charlty is an educatlonal chaiity. and the planning of its programme of lectures, seminars and related The council controls the charity. Day-to-day admlnlstration is in the hands of the admlnlstrator who attends meetlngs of the Councll. The trustees meet pursuant to the Articles, with one meetlng belng the Annual General Meetlng. The Chalr liaises with the administrator to oversee the day-to-day runnlng of the charity. The charity Is an educational charlty. and the planning of its programme of lectures, seminars and related publications Is cEPRECIATION At l January 2023 and 31 December 2023 1,281 NE[ BOOKVALUE At 31 December 2023 At31 December2022 io. CURREMf ASSEf INVESTMENTS Brewin Dolphin {the investment managers) manage the er￿0￿m￿nt fund in medium risk Investments and according to noThal investment practi￿. During the year, the trustees wlthdrew all funds and closed the portfolio. Movements on invostment portfolio Current Asset Investment At 01.01.23 Net capital added / withdrawn Capitsl appreciation I depreciation Income recelved At 31.12.23 298.186 (291,078) 118,1361 11,028 Page 13 contlnued... THE TEMENOS ACADEMI NOTES TO THE FINANCIALSTATEMENTS- continued forthe Year Ended 31 December 2023 ii. CREDm)RS: AMOUMt5 FAWNG DUE W￿H1N ONE YEAR 31.1223 31.12.22 Trade creditors Acciued expenses 520 3,385 9,762 2,776 3,905 12,538 12. ACCRUAL5 AND DEFERRED INCOME 31.12.23 31.1222 Accruals and deferred Income 19,209 2,800 MOVEMEpif IN FUNDS Net movement in funds Transfers between funds At 31.12.23 At 1.1.23 Unrestrirted funds General fund Revaluation reserve 295,474 25.866 {56,434) (6.0391 233,001 25,866 321,340 156.434 16,039) 258,867 Restricted funds Temenos Academy Review Foundation Course 5,742 (6,0391 L8,760 17,090) 24.502 {7,090) 6,039 {297) 6,039 17,412 TOTAL FUND5 321,043 {44,764} 276.279 Net movement in funds included In the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestritted funds Generdl fund 67,948 {105,027l {19,355} (56,434) Restricted funds Temenos ArAdemy Review Foundation Course 35,564 5,029 116,8041 I2,1￿) 18,760 17,090) 40,593 128,923) TOTAL FUNDS 108,541 (133,9501 (19 355) (44,764) Page 14 contlnued... THE TEMENOS ACADEMY NOTES TO THE FINANCIALSTATEMENTS- continued for the Year Ended 31 December 2023 13. MOVEME1￿ IN FUNDS- continued Comparati¥e5 for movement In funds Net movement in funds At 31,12.22 At 1.1.22 Unrestricted funds General fund Revaluatioh reserve 421,632 25.866 {126,158J 295,474 25,866 447,498 1126,158} 321340 Restrlcted funds Temenos Academy Review Foundation Course 26.714 {1,755) (20.9721 14,284) 5.742 16,039) 24,959 {25,256) {297} TOTAL FUNDS 472,457 151,4141 321,043 Comparative net rnovÈmÈnt in funds, Induded in the above are as follows: Incoming resources Resources expended Gains and 1055es Movement in funds Unre5trlcted funds General fund 31,757 1104,0231 153,8921 1126,158) Restricted fund5 Temenos Academy Review Foundation Course 121,461) 114,7591 120,9721 {4,2841 10,475 10,964 (36,220J (25,256) TOTAL FUNDS 42,721 1140,2431 (53,8921 (151,414) Page 15 continued... THE TEMENOS ACADEMY NOTES TO THE FINANCIALSTATEMENTS- continued for the Year Ended 31 December 2023 13. MOVEMEMf IN FUN05- contlnued A current year 12 months and prior year 12 months combined position is as follow5: Net rnovernent in funds Transfers between fund5 At 31.12.23 At 1.1.22 Unr¢5trl¢ted funds General fund Revaluation reserve 421,632 25￿66 {182.S921 {6,039) 233,001 25.866 447,498 (182,592) (6,039} 258.867 Restricted funds Temenos Academy Revlew FoundatSon Course 26,714 11,7551 (2,2121 (11,374) 24.502 (7.090) 6,039 24959 13,586) 6,039 17,412 TOTAL FUNDS 472A57 {196,178} 276279 A current year 12 months and prior year 12 months comblned net movement in funds, included in the above are as follows: Incoming resources Resour￿5 expended Gains and losse5 Movement in fund5 Unrestricted fvnds General fund 99.705 {209,050) {73,2471 {182,5921 Restricted funds Ternenos Academy Review Fotsndation Course 36,053 15,504 {38,2651 26,878) (2.212) (IL374) SI￿57 (65,143) 113.586) TOTAL FUNDS 151,262 {274,193) 173,247) 1196,178) Purposes of unrestricted funds The General Fund covers the costs of the Academy's primary activtties In the furtherdn¢e of its obJects, namely lectures. publlcations and recordlngs. rt also covers the Academy's management and administr*ion costs. Purposes of restricted funds Temenos Academy Revlew Contrlbutions recelved towards the editorlal and publitatlon costs of the Temenos Academy Review joumal. Misollaneous Projects This represents the residual balances of restricted grants and donation5 on a number of projects. Page 16 continued... THE TEMENOS ACADEMY NOTES TO THE FINANCSALSTATEMENTS- contlnued fprthe Year Ended 31 December 2023 MOVEMEMf IN FUNDS- contlnued Lecture Sponso￿h1pS Contributions specifically donated towards the costs of Temenos lectures. Foundatlon Course Fees and costs 5pectfically relating towaTd5 the foundation course operated by the Temenos Academv. RELATED PAlttY DISCLOSURES During the year to 31 De￿mber 2023, Ms E Clark received £4,028 for her role as Foundation Course Registrar (2022; £4,012). Page 17 THE TEMENOS ACADEMY DETAILED SrATEmE￿ OF FINANCIAL A￿1VITIEs fDrthe Year Ended 31 December 2023 31.12.23 31.12.22 INCOME AND ENDOWMENT5 Donatlons and legacies Donatlons 80,918 11,643 Foundation Courses Foundation Courses 4.994 10,475 Investment income Deposlt account interest In¥e5tment portfolio 176 11,028 12,728 11204 12.752 Chavitable attlvities Ledures and seminars Book and pamphlet sale5 Temenos Academy Review sales 8,839 1,877 709 5,751 1,384 716 11,425 7,851 Total incoming resources 108,541 42,721 EXPENDITURE Ralslns donatlons and legarles Website costs Harmony Programme 410 2,109 458 2,519 3,452 Other trndiT* activities Foundation Courses 12,119 14,759 Investment management costs Portfolio management 2,667 4,343 Charitable acti¥ities Estsblishment Office expenses Publication5 Sponsorship 12,511 11,643 16,804 2,000 11,605 11,415 21,461 42,958 44,481 This page does not form part of the statutory financial statements Page 18 THE TEMENOS ACADEMY D￿AlLED sfATEMENT OF FINANCIAL A￿1V￿lEs for the Year Ended 31 December 2023 31.12.23 31.12.22 Charltable artivlties Other Travel Insurance Bank charges Office expen5e5 Estsbllshment- rent 463 411 347 925 5,198 1,333 696 iii 470 2,678 5,288 Support costs Mana8ement Professtonal 60.505 63,075 Governance costs Auditor5, remuneration Sundrie5 Accountancy and legal fees 3,562 2,898 241 1.706 2,276 5,838 4.845 Total resources expended 133,950 140.243 Net expffiditure before 8ain5 and1055es 125,4091 (97,522) Realised recognlsed gains and losse5 Reali5ed 8ains/(1055es) on r￿ed asset Investrnents {19,355) Net expendlture 144,764) 197,522) This page does not form part of the statutory financial ststements Page 19