REGISTERED COMPANY NUMBER: 02994834 (En8land and Walesl REGISTERED CHARITY NUMBER: 1043015 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR THE TEMENOS ACADEMY Xelnadin South East Ltd 19 North Street Ashford Kent TN24 8LF 'AEBC3QVE* 1W0912025 COMPANIES HOUSE A14
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THE TEMENOS ACADEMY CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activitles 8alance Sheet 8 to 9 Notes to the Flnanclal Statements 10 to 16 Detsiled Statement of Flnancial Activities 17 to 18
THE TEMENOS ACADEMY REPORT OF THE TRUSTEES for the Year Ended 31 December 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006. psent their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of AccountSnB and Reportin8 by Charlties.. Statement of Recommended Practice applicable to charities preparlng iheir accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. Page I
THE TEMENOS ACADEMY REPORT OFTHE TRUSTEES for the Year Ended 310ecember 2024 OWECTIVES AND ACTIVITIES Charitable Objects The objects of the charity are.. To advance education by the provision of educational facilities to the public in the general context of the humanities with emphasis on the study of philosophy and the arts in the context of the world's major religious and spiritual traditions. Artlvltle5 The artivities of the charity are set out in detail in Article 4 of the Memorandum of Association. The trustees are aware of the Charities Commlssion Guidance on Public Beneflt and.have complied with their duty to have due regard to the Charities Commission's public benefit guidance. when exercising any powers of duties to which the 8uidance is relevant. The trustees confirm that durin8 the year all donations received, all investment income received, and some capital, were used to fund the charity's programme, described below. Programme Durlng the peflod of 2023 the Temenos Academy organised 14 publlc lectures which included a serles on 'Sacred Nature,. 38 semlnar study session5, 2 Temenos Academy Youn8 Scholars Oay Pil8rimaBes from Cambridge to Ety Cathedral, a Study Day at the Lampeter Campus of the Unlversity of Wale5 Trinity Salnt Davld in association with the university's Harmony Programme, a Study Day on theme on 'Lan8ua8e and Clvilisation,, and continued teaching the Foundation Course in the Perennlal Philosophy, The pro8rdmme of lectures comprised 'Peter Lanyon: Inside the Sky, by Toby Treves; 'Making Peace with Nature, bv Satish Kumar Soil. Sky and Soul.. Makin8 Connections Between Heaven and Earth, by Bishop James Jones, The Concept of Yajna {sacrlflcel, Dana l¢harityl, and Tapas lausterltyl in the Bha8avad Glta, Mediatlng Matter., The Coronation Anointing Screen and ihe role of vlsual art in the traditional Christian worship, by Aidan Hart, Seekln8 the Presente of God in Nature, by Rabbi Jonathan Wittenberg; 'Spifituality - The Inner and Outer Landscape, by Profe55or Seyyed H055ein Nasr via video-link; 'Dante's Poetic Knowledge, by Andrew Frisardi- 'Petrarch, His Fragments, and the Mirror of Nature, by Andrew Frisardi, Abrahamic and Indian Spirltual Teaehings.. Similarities and Differences, bv Professor Ravl Ravindra, Ima8inin8 Kells.. A poetic exploration of the Books of Ke115' by James Harpur The Prince, Ihe Widow, the Hemilt and their Tree of Life, by Professor Michael Barry The Eleusinian Myseteries A film screening and Q&A' by Jules Cashford: and 'Silent Muslc: Poetry, Paradox. and Prayer in the Carmelite Tradition, by Catherine Coldstream. Three lecturers were invited fmm abroad.. Andrew Frisardi Iltalyl. Ravi Ravindra (Canada). and Michael Barry (Francel, The two Temen05 Academy Young Scholars Day Pll8rlmages, for 18-35-year-olds, from C3mbrld8e town centre to Ely Cathedral took place in February and September. The very successful Study Day, in collaboration with the Harmony Progrèmme of The University of Wales Trinity Saint Davld, was on the theme 'The Learning of the Imagination.. Openlng the Doors of Perception,. The talks were 'David Jone5 Amid the Hi115' by Peter Lanyon; 'Enterin8 William Blake's Fourfold Vision. by Susanne Sklar and 'From Oream to Vision.. Joseph and the UndenNorld' by Martin Shaw. The summer Study Day on the theme 'Language and Civilisation. at Rudolf Steiner House wa5 an excellent event. The speakers were Joseph Milne. Hilary Davies, Esmé Partridge and Duane William5. The seminar courses were Shakespeare's Julius Caesar taught by Dr Joseph Milne130 seminars): and Williom 81akes's Milton tsught by Dr Valentin Gerlier118 seminars). The year saw the publication of issue 27 of TemeDOS Academy Review, edited by Professor John Carey, James Harpur and Hilary Davies. The RevSew is a journal of just under 300 pages. It contain5 articles, poems, book reviews, obituaries and colour illustrations. The Councll wishes to acknowled8e the support of Professor Kim Samuel who generou51y finances the publlcation of the Review. Page 2
THE TEMENOS ACADEMY REPORT OFTHE TRUSTEES for the Year Ended 31 December 2024 The Archive sertion of the website was further enlarged by the addltion of more audio and video recordings of the past lectures. The Temenos Academy runs the Temenos Academy Young Scholars essay scheme open to anyone 38ed 18-35. PATRONAGE . On the death of Her Majesty the Queen and the accession of His Majesty King Charles 111 to the throne in 2023. the former Prince of Wales ceased to be the Patron of the Temenos Academy. In May 2024 the former Prince of Wales renewed hls patronaBe of the Temenos Academy as His Majesty King Charles111. FINANaAL REVIEW Principal lunding souros Durin8 the year the charity's principal funding came from general donatlons, donations for specific pmjects, membershlps, fees for lectures. courses, semlnars and study days, book sales and from Interest payments from Its 5avin85 accounts. In Ortober 2023 Temenos withdfew Its investments with 8rewin Dolphin and transferred the money to our reEular bank account. In February 2024 Temenos opened a l-year charlty deposit savln85 account wlth Unlted Trust Bank which wlll mature In February 2025. The trustees are extremely grateful for the financlal support the Temenos Academy receives from Professor Kim Samuel, and from all other donors,. from Sir Alan Parker for allowin8 the free use of rooms at The Lincoln Centre at Brunswick Group,. from those who have kindly hosted visitin8 speakers,. and from those who have voluntarily given their time and every to the work of the charity. RISK MANAGEMENT STATEMENT The activities of the charity are not complex: they are educational, Ilmited to course5 of study, lectures and seminar meetings, publications and a website, and the award of the Thetls Blacker Batlk Scholarship. The trustees are aware that the principal risk to the Temenos Academy is flnancial i.e. the need to secure enough fundlng for its programme and administration. The main sources of .funding are from its investments, membership. donations (general donations nd those for specific prolectsl, and fees for courses, lectures and seminars as well as from book sales. The activities of the charity are limited by an annual bud8et approved by the trustees. The trustees revlew the financial position every quarter as reported In the mana8ement accounts. and at trustee meetln85. The chief priorities are- i. to ensure funding of the pro8ramme and adminisiration of the charity, by monitoring its investments, and endeavouring to maintaln and build upon its exirting donor base il, Increasln8 public awareness Df its work and involvin8 new members iii. renewing and increasing endowment to secure the long-term future of the charlty The trustees are also aware of the other potential risks and of regulatory requiremen15, monitor them at meetin85 and have them constantly in mind. The charity has a clear and efficient operating structure. The composition of the Council and the rest of the organisation is diverse in terms of gender, ethnlcity, and soclal background. The charity has written policies covering key areas of risk includin8 Privacy and Safeguarding. it has controls over the use of bank accounts and the payment of fees and expenses; It conducts an annual review of financial controls. It has a detailed, regularly updated Operating Manual that describes all administrative procedures y) that these are known in the event of a chan8e in key personnel. FUTURE PLANS The trustees look fonvard to continuing with a full programme of lectures, seminars and study days. to fvrther collaborations wlth other organisations, and to maximising the publlc benefit of the charity. Page 3
THE TEMENOS ACADEMY REPORT OF THE TRUSTEES for the Year Ended 31 December 2024 STRUCTURE, GOVERP4ANCE AND MANAGEMENT Governin8 document The charity is controlled by its governing document. a Memordndum & Articles of Association, and constitutes a limited company, limited by guarantee. as defined by the Companies Art 2006. Reuuitment and appolntment ol new trustees The trustees may resolve to appoint new trustees. Orcanlsatlonal structure The council controls the charity. Day-to-day administration is in the hands of the administrator who attends meetings of the Council. The trustees meet pursuant to the Articles, with one meetin8 being the Annual General Meeting. The Chair liaises wlth the admlnlstrator to oversee the day-to-day running of the charity. The charity is an educational charity. and the plannin8 of its pro8ramme of lectures, seminars and related publications is co-ordinated by its Academic Board, a sub-committee of the Council. The Academic Board comprises five trustees, and five academics one of whom is also the administrator. The members of the Academlc Board who seNed durin8 the year are: As trustees: Professor John Cèrev Ms. Emma Clark Mrs. Julla Cleave Ms. Hilary Davles Professor Grevel Lindop {Chair of the Academic Board) Othermembers: Or Joseph Mllne Dr Jeremy Naydler Dr Valentin Gerlier Dr Mark Vernon Dr Daniel Samuel (who is also the adminlstrator) The chalr of the Academic Board (who must be a trusteé) gives a report of the programme at meetln8s of the Councll. Five trustees are also members of ihe Academic 8oard, which further strengthens report5n8 links between the two bodies, The Academlc Board may call on the Fellows for advlce or help In plannlng the programme. The Fellows are 35 academics, artists, etc. from around the world. with a broad range of knowledge and experience, who may contribute to the charity's work. The position of Fellow 15 honorary. New Fellows are proposed by the Academic Board and confirmed by the Council. Trustees, members of the Academic Board. and Fellows may be invited to teach in the charlty's programme. Like other teachers they will be offered an honorarium. travel expenses, subslstence and if appropriate. accommodation. Induction and training of new trustees A new trustee will be briefed on their le8al and other obligations prior to being appointed and reminded of thelr obli8ations at the first trustee meelin8 they attend. Pa8e 4
THE TEMENOSACADEMY REPORTOF THE TRUSTEES for the Year Ended 31 December 2024 REFERENCE AND ADMINISTrATIVE DEfAIiS egistered Company Number 02994834 (England and Wales} Re&15tered Charlty Number 1093015 Re£lstered Office The Brunswick Group 16 Lincoln's Inn Fields London WC2A 3ED Trustees Professor John Carey Ms. Emma Clark Mrs. Julla Cleave Professor Grevel Llndop Ms. Hilary Davies Mr. Vinod B. Tailor, DL,, MBE Professor Kim Samuel Mf. lan Skellv Independent Examlner Xelnadin (formerly Calcutt Matthews WBZ Ltd,) Chartered Accountants 19 North Street Ashford Kent TN24 8LF Bankers The Co-operative Bank 151-ISS Lewisham High Sireet London SE13 6AA Lloyds Bank plc P O Box 1000 BXI ILT Approved by order of the board of trustees on .............03.ia91.2Q25............ and Signed on its behalf by: Mr I Skelly- Trustee Page 5
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE TEMENOS AC4DEMY Independent examlner's ioport to the trustees of The Temenos Academy ('the Companv,) I report to the charity trustees on my examination of the accounts of the Company for the yeaf ended 31 December 2024. Responslbllltles and basls of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charitie5 Act 2011 I'the 2011 Art'l. In carryin8 Out my examination I have followed the Directions given by the Charity Commission under Section 145(5) Ibl of the 2011 Act. Independent examiner's statement I have completed my examination. I conflrm that no matters have come to my attention In connectlon wlth the examination giving me cause to believe.. accountin8 records were not kept In respert of the Company as required by SectSon 386 of the 2006 Art: or the accounts do not accord with those records,. or the accounts do not comply with the accountln8 requirements of Sertlon 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an Independent examination. or the accounts have not been prepared in accordance wlth the methods and principles of the Statement of Recommended Prnctice for accounting and reporting by charities (applicable to charities preparing their accounts in atcordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland {FRS 10211. I have no concems and have come across no other matters in connertion with the examinatlon to which attention should be drawn In thls report in order to enable a proper understandln8 of the accounts to be reached. Rosanna Turner ACA DChA The Institute of Chartered Accountants in England and Wales Xelnadin South East Ltd 19 North Street Ashford Kent TN24 8LF Date.. 03.09,2025 Page 6
THE TEMENOS ACADEMY STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2024 31.12.24 Totsl funds 31.12.23 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacie5 38,200 38,200 80.918 Charitsble activities Lectures Books and Pamplets Temenos Academy Revlew 3,678 3.678 8,839 1,7S7. 829 630 630 Foundation Courses Investment income 19,246 19,246 1,485 4,994 11,204 1,485 Totsl 43,363 19,876 63,239 108,541 EXPENDITURE ON Ralslng funds 2,234 10,953 13,187 17,30S Charltable artlvltles Lecture5 Books and Pamplets Temenos Academy RevSew 46,618 46,618 90.497 2,538 16,266 11,667 11,667 Other 8,459 8,459 Total 57,311 22,620 79,931 133,950 Net 8ains/llossesl on investments 119,3551 NET INCOME/{EXPENOITURE) 113,9481 12,7441 116,6921 144.7641 RECONCIIIATION OF FUNDS Total funds brou8ht forward 258.867 17,412 276,279 321,043 TOTAL FUNDS CARRIED FORWAIID 244,919 14,668 259,587 276,279 The notes fomi part of these financial statements Page 7
THE TEMENOS ACADEMY BALANCE SHEET 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted funds Restricted funds Notes CURRENT ASSErs Prepayments and accrued income Cash at bank and in hand 325 248.436 325 268.052 342 299.051 19,616 248,761 19,616 268.377 299,393 CREDITORS Amounts fallin8 due withln one year io 13.8421 13.8421 13.9051 NET CURRENT ASSETS 244.919 19,616 264.535 295,488 TOTAL ASSEfs LESS CURRENT UABILMES 244,919 19,616 264.535 295,488 ACCRUALS AND DEFERREO INCOME li 14,9481 14.9481 {19,2091 NEf ASSEfS .244,919 14,668 259.587 276.279 FUNDS Unrestrirted funds Restricted funds 12 244,919 14,668 258,867 17,412 TOTAL FUNDS 259.587 276,279 The charitable company Is entitled to exemption from audlt under Sectlon 477 of the Companles Act 21)06 for the year ended 31 December 2024. The members have not required the company to obtaln an audlt of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 21)06. The trustees acknowledge their responsibllities for la} ensuring that the charitable company keeps accounting records ihat comply with Sections 386 and 387 of the Companies Art 2006 and preparing financlal statement5 which give a true and fair view of the state of affairs of the charltable companv as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requlrements of Sertions 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 latIng to financial statements, so far as applicable to the charitable companv. The notes form part of these financial statements Pa8e 8 continued...
THE TEMENOS ACADEMY BALANCE SHEET- continued 31 December 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statefflents were approved by the Board of Trustees and authorised 'for issue . and were signed on its behalf by: on Mr I Skelly- Trustee The notes form part of these financlal st3temeiits Page 9
THE TEMENOS ACADEMY NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing ihe financlal statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance wlth the Charlties SORP IFRS 102} 'Accountin8 and Reporting by Charlties.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l.January 20191., Financial Reportin8 Standard 102 The Financial Reportin8 Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost conventlon. Income All Income is recognised in the Statement of Financial Actlvities 'once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expendllure Liabilities are recognised as expenditure as soon as there is a le8al or constructive obligation committing the charity to that expenditure, it is probable that a transfer of econornlc benefits will be required in settlement and the amount of the obll8ation can be measured reliably. Expenditure is accounted for on an accruals basi5 and has been classifled under headln8S that 388re8ate all cost related to the category. Where costs cannot be directly attributed to particular headin85 they hwe been allocated to activlties on a basis conslstent with the Use of resources. Allocatlon and apportlonment of wsts Support costs are allocated pro rata.to the percentage of cost of the activity. T•n8lble Ilxed assets Depreciation is provided at the following annual rdtes in order to write off each asset over its estimated useful lrfe. Fixtures and flttlngs 25% on cost, Taxatlon The charity Is exempt from corporatlon tax on Its charitable activltles. Fund accountlng Unrestricted funds can be used in accordance wlth the charltable objective5 at the dlscretlon of the trustees. Restrlcted funds can only be used for particular restricted purposes within the objects of the charltv. Restrlctions arlse when specified by the donor or when funds are rnised for particular restrirted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial . ststements. Investments The investment portfolio is managed by external fund managers. Gains and losses arising during the year from cquisition5 and disp05als of investments are taken to the income and expenditure account. The investments are stated in the accounts at market value a5 at the balance sheet date. Unrealised gains arising on the revaluation of the investments are are not accounted for as income in the income and expenditure account, but are included in the balance Sheet 35 a revaluation reserve. They are also shown on the Statement of Financial Activltles as Other Recognised Gains and Losses. Page 10 continued...
THE TEMENOS ACADEMY NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 December 2024 DONATIONS AND LEGACIES, 31.12.24 31.12.23 Donations 38,200 80,918 FOUNDATION COURSES 31.12.24 31.12.23 Foundation Courses 19,246 4,994 INVE5fMENT INCOME 31.12,24 31.12.23 Dep051t account interest , Investment portfolio 1.485 176 11,028 1,485 11,204 RAISING FUNDS 31.12,21 31,12.2020 Portfolio Management Fundraiser Other 4,654 5.020 15,016 11,480 SUPPORT C05T5 Management 2023 2022 Admlnlstratlve Servlces Lecturer Fees/Expenses/Accommodation Seminar Fees/Expenses/Accommodation Office Supplles and Photocopies 50,536 6,788 2.050 51,480 5.834 3.437 905 59,8S6 61,656 Page 11 continued...
THE TEMENOS ACADEMY NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 December 2024 NEf INCOMEI(EXPENDITUREI Net Incomellexpenditurel Is stated after charging/lcreditln8}'. 31.12.24 31.12.23 Auditors, remuneration 3,409 3,562 TRusfEES' REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees, expenses Expenses claimed are for trustee travel to and from meetings of the Trustees and Academlc Board. £600 12023- £9251 was pald In travel expendlture for the year to 31 December 2024. TANGIBLE FIXED ASSETS Fixtures and rittings COST At l January 2024 and 31 Decernber 2024 1,281 DEPRECIATION At l January 2024 and 31 December 2024 1,281 NEf BOOK VALUE At 31 December 2024 At 310ecember 2023 Page 12 continued..
THE TEMENOS ACADEMY NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 December 2024 io. CREDITOR5: AMOUNTS FALLING DUE WITHIN ONE YEAR 31,12.24 31.12.23 Trade creditors Accrued expenses 520 3.385 3,842 3,842 3,905 ii. ACCRUALS AND DEFERRED INCOME 31.12.24 31.12.23 Accruals and deferred Income 4,948 19,209 12. MOVEMENTIN FUNDS Net movement In funds At 31.12.24 At 1.1.24 Unrestrlrted funds General fund Revaluation reserve. 233,001 25,866 {13,948) 219,OS3 25,866 258.867 113.9481 244,919 Restrlcted lunds Temenos Academy Review Foundation Course . 24,502 {7.0901 111,0371 8,293 13.465 1,203 17.412 12.7441 14,668 TOTAL FUNDS 276,279 116,6921 259,587 Net movement In funds, included in the above are as follows,. Incoming resource5 Resources expended Movement In funds Unrestrirted funds General fund 43.363 157.3111 113.948} Restrlrted lunds Temenos Academy Review Foundation Course 630 19,246 111,6671 110,9531 111,0371 8,293 19.876 122,6201 12,7441 TOTAL FUNDS 63.239 179.9311 {16,6921 Page 13 continued...
THE TEMENOS AC40EMY NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 December 2024 12. MOVEMENT IN FUNDS- continued Compardtl¥es for movement In funds Net movement in funds Transfers between funds At 31.12.23 At 1.1.23 Unreslrlcted funds General fund Revaluation reserve 29S.474 25,866 156,4341 16.0391 233.001 25,866 321.340 156.4341 16,039) 258,867 Restrlrted lunds Temenos Academy Review Foundation Course 5,742 16,0391 18.760 17.0901 24,S02 17,090) 6,039 12971 11.670 6,039 17,412 TOTAL FUNOS 321,043 144,7641 276,279 Comparative net movement in funds, included In ihe above are as follows: Incoming resources Resources expended Gains and 105ses Movement n funds UnreslrSrted funds General fund 67.948 {105.0271 119.3551 156,4341 Aestrlrted funds Temenos Academy Review Foundation Course 35,564 5,029 116,8041 (12.1191 18,760 17.0901 40,593 128.9231 11.670 TOTAL FiINDS 108,541 1133,9501 119,355) 144,7641 Pa8e 14 continued...
THE TEMENOS ACADEMY NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 December 2024 12.. MOVEMENT IN FUNDS- contlnued A cuirent year 12 months and prior year 12 Months combined position is as follows.. Net movement in funds Transfers between funds At 31.12.24 At 1.1.23 Unrestrlrted funds General fund Revaluation reserve 295,474 25.866 170,3821 16,0391 219,053 25,866 321.340 170,382) 16,0391 244,919 Rastricted funds Temenos Academy Review Foundation Cour 5.742 16.0391 7.723 1,203 13,465 1,203 6,039 12971 8.926 6.039 14,668 TOTAL FUNDS 321.043 161.4561 259,587 A current year 12 months and prior year 12 months combined net movement In funds, included in the above are as follows., Incomin8 resources Resources expended Gains and 1055es Movement In funds Unrestrlrted fvnds General fund 111.311 {162.338} 119,3551 170,382) Restrlcted funds Temenos Academy Review Foundation Course 36,194 24,27S 128,471} 123,072) 7,723 1.203 60.469 151.5431 8,926 TOTAL FUNDS 171,780 1213,8811 (19,3551 {61,4561 Purposes of unreslrlcted fvnds The General Fund covers the costs of the Academy's primary activitie5 ID the furtherance of its objects, namelv lertures, publications and recordin85. It also covers the Academy's management and admlnlstratSon costs. Purposes of restrlcted funds Temen05 Academy Review Contributions received towards the editorial and publlcatlon costs of the Temenos Academy Review journal. Miscellaneous Projects This represents the residual balances of restricted grants and donations on a number of projects. Lecture SponsOh1pS Page 15 continued...
THE TEMENOS ACADEMY NOTES TOTHE FINANCIAL STATEMENTS- continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS- TrtInued Contributions specifically donated tovtsrds the costs of Temenos lectures. Foundation Course Fees and costs specifically relatin8 towards the foundatlon course opernted by the Temenos Academy. 13. RELATED PARTY DISCLOSURES During the year to 31 December 2024, Ms E Clark received £4.ocKI for her role as Foundation Course Re8lStrar {2023,' £4,028>. Page 16
THE TEMENOS ACADEMY DEfAILED STATEMENT OF FINANCIAL ACTIVITIES for ihe Year Ended 31 December 2024 31.12.24 31.12.23 INCOME AND ENOOWMENTS Donatlons and leca¢le$ Donations 38,200 80,918 Foundation Courses Foundation Courses 19.246 4,994 Invertment In¢om• Deposit account interest Investment portfolio 1,485 176 11,028 1.485 11.204 Charltsble actlvltles Lectures and semlnars Book and pamphlet sales Temenos Academy Revlew sales 2,852 826 630 8,839 1,877 709 4,308 11,425, Totsl In¢omln8 resources 63,239 108,541 EXPENDITURE Ralslng donatlons and legacl•s Website costs Harmony Programme 104 2,130 410 2.109 2,234 2.519 Other trading artlvltles Foundation Courses 10,953 12,119 Investment management ¢0st$ Portfolio manaEernent 2.667 Charltable artl¥ltles Establishment Office expenses Publications Sponsorship 530 12,511 11,643 16.804 2,IXIO 11.667 21.197 42.958 This page does not form pèrt of the statutory financial statement5 Pa8e 17
THE TEMENOS ACADEMY DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2024 31.12.24 31.12.23 Charitable artivities Other Travel Insurance Bank charges Office expenses Establishment- rent 463 411 347 925 5,198 429 113 514 4,045 5,101 7,344 Support costs Management Professional 35,596 60,505 Governance costs Audltors, remuneration Accountancy and legal fees 3.409 1,441 3,562 2,276 4,850 5,838 Totsl resources expended 79,931 133,950 Net expendilure before Balns and10sses 116,6921 {25,4091 Reallsed veco£n15ed galn5 and loss Realised gainslllosses) on fixed asset investments {19,3551 Net expendlture 116,6921 {44,764) Thls pa8e does not form part of the ststutory fiTrancial statements Page 18