Penhurst Retreat Centre Charitable Trust Registered Charity 1060817 The Manor House, Penhurst Lane. Penhurst. Battle, TNAA 9QP REPORTS AND FINANCIAL STATEMENTS For the year ended 31 March 2024 Contents Page Legal and administrative information Report of the Trustees Independent Examiner's report Statement of Financial Activities Balance Sheet Notes to the account5 10-15
CHARITY No. 1060817 ACCOUNTS YEAR ENDED 31ST MARCH 2024 Page l of 15 PENHURSt REfREAT CENTRE CHARITABLE TRusr YEAR ENDED 31 MARCH 2024 LEGAL AND ADMINISTRATIVE INFORMATION Trustees Louisa Gail Bailey (Appointed 10 October 2024) Michael David Brackpool John Charles French (Resigned 5 October 2024) David John Greenslade rimothy John Herbert (Resigned as Trustee and Chair 13 February 2024) Richard William Langmead (Appointed Trustee l November 2023 and Chair 13 February 20241 John A Lyttle (Retlfed 18 November 2024) John Lowood Richards Douglas Roger Wakeling Trust Ol¢e The Manor House Penhurst Lane Penhursi East Sussex TN33 9QP Tel: 01424 892088 E-mail: info@penhur5t.org.uk Bankers 5antaniJer Bank 2 Triton Square, Regent's Place LONnoN NWI aAN Investment Bankers CCLA 80 Cheapside LONDON EC2V 6DZ Independent Examiner Miriam Hickson FC4 cfA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SMI 2SW Charity Registration Registered Charity no 1060817
CHARITY No. 1060817 ACCOUNTS YEAR ENDED 31ST MARCH 2024 Page 2 of 15 PENHURST RETREAT CENTRE CHARITABLE TRUST REPORT OF THE TRUSTEE5 YEAR ENDED 31 MARCH 2024 The Trustees have pleasure in submitting their report together with the financial statements for the year ended 31st March 2024. The financial statements have been prepared in accordance with the Charities Statetrient of Recommended Practice (Charities SORP FRS 102} as updated in 2019, Financial Reporting Standard 102 {FRS 102) and the Charities Act 2011. LEGAL AND GOVERNANCE ISSUES 1.1 Con5tltutlon of the Charlty and status The governing instrument of the charty is the trust deed dated 23rd September 1996 and a deed of variation th dated 8 October 21X)2. The charity was registered with the Charity Commission on 19th February 1997 with the number 1060817. The charity is registered with the Inland Revenue, reference XR 21863 and is exempt from tax on its charitable activities under part 10 of the Income tax Act 2CM)7. 1.2 Trustee Body The Trustees who held office during the year and to the date of this report a listed on page l. Legal and Administrative Information. Trustees are appointed for a three-year period but are eligible to stand for re- election at the end of the period as set out in the deed of variation. All new trustees need to be appointed by the trustee body, following a skills analysis and suitable referen5. Mr Richard Langmead currently serrfes as Chair of the trustee body. 1.3 Trustee induttion and training All new trustees are given information relating to the responsibilities of trustees and orientation to the work of the Charity. They are encouraged to visit the centre on a regular basis. The trust is a member of Global Connections, a network of mission agencies. Trustees and staff have attended various training events organised by the network for training and support. 1.4 Trustee meetings The trustees normally schedule four or five meetings each year and are joined for most of the meetings by the Centre Manager and Centre Host where appropriate. All meetings are fully Orded with clear decisions and action points. The trustees have a comprehensive annual programme to ensure that policies and procedures are regularly updated and reviewed. A regisier of trustee Tnterests is held to ensure that there are no contlicts of interest. This is updated regularly. Related party issues are fully declared in the financial statements. The trustees have a clear procedure that if there is a potential conflict of interest on any matter, the trustee with the potential conflict of interest is asked to leave the room and take no part in the debate or decision. 1.5 Organisation of the Charity The operations of the charity are conducted in accordance with the policies and strategy approved by the Trustees. The Charity does not normally have sub-committees but a Steering Group has been formed in the short tenn to assist with the running of the Charity and, in addition, trustees are also activety involved in the running of the charity to try to keep overheads low. Some trustees provide practical support in running the Retreat Centre, others help with management and others with property maintenance. They seek to provide ongoing support to the paid staff and volunteers. For the financial year covered by this report, the Retreat Centre was Managed on a day-to-day basis by Joanna Legg-Ba8g (Centre Manager) and Nicci Gagel, until February 2024 {Centre Host), when she resigned to enable her to look after her parents. Although they have different areas of personal responsibility they are jointly responsible for the running of the centre and work closely together. Annual appraisals are undertaken with them and trustees are asked to contribute to this process.
CHARITY No. 1060817 ACCOUNTS YEAR ENDED 315r MARCH 2024 Page 3 of IS 1.6 Risk Manasement The Trustees review risk, including its financial procedures, on a regular basis and formally review the risk action plan on an annual basis, seeking to ensure all major risks to which the charity might be exposed are identified, in particular those relating to the operations and finances of the Trust. The Trustees are satisfied that there are systems in place to mitigate the exposure to major risks. The action plan for a range of minor risks was reviewed and modified over the year as required. All safety checks are carried out as part of a quarterly, half yearly or annual schedule. OBJEcfs OF THE CHARITY The objects of the Charity are: The advancement of the Christian religion either in the United Kingdom or overseas {ii) The advancement for the public benefit of religious or other education (iii) The relief of the aged, poor, sick or disabled The Tru5tee5 aim to pursue these objects through running a speclallst Retreat Centre at Penhurst. The particular emphasis of the Centre is to provide retat facilities for individuals and small groups tUrnIng from stressful environments overseas or within the UK. or preparing to serve overseas. This is done through led group retreats and indwidual retreats which provide the opportunity for private reflection. AcnvmES. PERFORMAN AND OUTCOMES 3.1 Revlew of the activities of the Charity The Retreat Centre offers space for quiet reflection and physical, mental and spiritual refreshment for individuals and small groups, both from overseas and from within the UK. The Centre has welcomed mission partners from all over the world. as well groups from a variety of UK agencies. as well as local churches and groups. This year was characterised by a strong bounce-back from the challenges of the Covid years, but has also been strongly IMPaed by the cost of living crisis which is increasing our costs while limiting our ability to raise income. The Centre Manager, Centre Host and the staff have worked hard to maintain a presence through social media and to welcome our guests back in person. The trust has developed good links with Global Connections, the main UK network bringing together mission agencies. The trust is an active member of the GC Member Care and HR Forums, as well as the wider European Member Care network. The Centre often uses trained de-briefers to assist mission partners returning to their passport country and this is a key element of the service provided by the Centre. The Centre has continued to encourage further training in de-briefing and listening skillsso that we can respond toguests returningfrom traumatic sttuations overseas. Staff and volunteers are also invofved in various retreat networks based on spiritual accompaniment, and support for those on their faith joumeys. Each year two newsletters are sent out either electronically or by mail to supporters and FK)tential users, who also receive the retreat programme. Much work has gone into continuing to ensure these mailing comply with good practice and the GDPR regulations. The retreat programme is also regularly distributed to key mlsslon agencie5 as are fiyers and advertlsements. 3.2 Outcomes and Impact The Retreat Centre aims to provide the environment where small groups and indNiduals preparing to serve overseas or tUrnIng frorn stressful environments overseas or working within the UK can find physical, mental and spiritual renewal. The Centre Manager and Host together with the trustees regularly survey the perceived benefrt to retreatants through: Visitors, book and web based guest feedback. This is an informal way of receiving feedback and the Centre is regularly praised for the sense of renewal people receive.
CHARITY No. 1060817 ACCOUP¥fS YEAR ENDED 31ST WRCH 2024 Page 4 of 15 Use by mission agencies: The number of referrals from rni55ion agencies is encouraging and the Centre has a good reputation among its main client group. Use by others: The Centre is now being used regularty as a base for those who accompany and support others in matters of faith. Retreat Programme: Led Retreats on specialist subjects have been particularly successful and are often over-subscribed. Links with others: Strong links have been developed with the Retreat Association and the Association for Promoting Retreats. There have been significant movements towards securing better working links with other member Ca agencies and centres in Europe. 3.3 Public Benefft The Trustees are committed to improving the organisation's practice and ensuring that it delivers public benefit as it fulfils its objertp4es through the provision of specialist retreat facilities. The trustees have had regard to the guidance from the Charity Commission on reporting on Public Benefit. The Centre is open to all wishing to access its services, includingthose of otherfaiths or none, provided that they respect the Christian ethos of the Centre. The Centre has recently been enhanced by improving access for those with mobility issues. FINANCIAL OVERVIEW 4.1 Results Details of the financial results forthe financial year are 8iven in the Statement of Financial Activities on Page 8 and the Balance Sheet on Page 9 and the accompanying notes on Pages 10-15. The Retreat Centre has had an encouraging year despite lower guest numbers and the financial challenges of the economic climate in general. However. the Centre is extremely grateful that due to the generosity of its friends and supporters we have ended the year with a small overall deficit of £3,131, whereas in the previous year there was a corresponding surplus £38,917 for the year. We received several generous donations during the year, which included one of £IO,Cm and a new restricted fund donation of £5,746 from and on the closing of the Syzygy Missions Support Network. During the year ending 31st March 2024, guest fees We £154,799 (22123: £172,611). t)onations and grants amounting to £47,313 (22123: £56,674) were received. Total Expenditure for the year was £226,330 {22123: £205,030). Details of related party transactions are as set out in note 15 to the accounts. The Trustees remain committed to invest resour$ in staff salaries, training and development while mindful of the need to contain costs. Several small fundraising campaigns have been carried out during the year to help with internal refurbishments and in the coming year Trustees will be considering investing in repairing some of the elderly fabric of the building. In view of the inCaSeS to our costs, particularly fuel oil on which our remote property is dependent, we have already taken the decision to increase guest fees in 2024 for the second year running. 4.2 Going Concern: Having reviewed the level of funds available together with the future projerted cash flow, the trustees have reasonable expertation that the charity has adequate resources to continue its activities for the current financial year. We are also undertaking a review of the Centre's organisat¢onal Structu in the year 2024/25 to streamline the administrative function and Guest care services whilst improving on the service we provide. Accordingly, they continue to adopt the goin8 concern basis in preparing the financial statements.
CHARITY No. 1060817 ACCOUNTS YEAR ENDED 31ST MARCH 2024 Page 5 of 15 4.3 Investment Policy Currently any surplus funds are held on deposit with CCLA in their common investment fund. When funds permit the trustees may invest in alternative products to generate a higher rate of return. However at such time our policy is that we will make no investments in any company in which their primary activities include tobacco, armaments. the sex trade or gambling. 4.4 Reserves Policy The funds are split between those restricted for specific purposes and those available for the general requirement5 of the charity. Duringthe yearthe charity repaid £IO,(XX) being the one mainIng interest free loan obtained for the purpose of improving the facilities. In the long term, the Trustees aim to maintain a minimum level of 'free' reserves, that is not committed or invested in tangible fixed assets, equivalent to three months, running costs so that they are able to meet any liabilities and to protect from cash flow problems. At the date of the Balance Sheet, the free reseeS (general fund current assets excluding long term interest free loans) stood at £249,961 {22/23: £257,088). The trustees aim to repay loans when due and where possible maintain the level of reserves at its declared poliry. FUTURE DEVELOPMENTS The Trustees are confident that Penhurst Retreat Centre offers an exceptional experience to all who visit. However, we reco81)ise Ihdl our vi5ibilily retn6in5 limited. potentially causing u5 to miss opportunlrles 10 reach those who are unaware of our offer. In response, we are committing focused resources to enhance our publicity, marketinL and communications. This efft)rt aims to increase our profile within the Christian community across the South of England and beyond we. Our strategy includes launching a new website. creating new brochures, and proactively using these tools to extend our reach. particularly to churches, young professlonals and Chrlstlan leaders. While we are grateful for significant reserves and 8enerous donation5, our financial goal is to achieve a sustainable, small annual surplus from bookings and charitable activities. This financial independence is crucial for the long-term sustainability and succes5 of Penhurst. Our primary focus is to ensure that the Centre's income covers all operating costs without relying on donations. Consequently, any surplus will be directed towards enhancements. bursaries. and further charitable projects. Future Plans: Streamline our staff team to align with booking demands, ensuring a more efficient operation. Enhance the guest experience by maintaining a warm, welcoming atmosphere. with a significant focus on increasing bookings. Allocate funds strategicalty to pay off loans and manage due payrnents effectively. Expand our led retreat prograrn, with a particular focus on mission partners, leaders, and young professionals. Continue to review and improve data management prartices. ensuring best practices and legal compliance in fundraising and personal data usage. Improvement and update of the bedrooms on a room-by-room basis as resources allow. INDEPENDENT EXAMINER Miriam Hickson senied asthe Independent Examlnerto the charity and has stated her willingness to continue in office.
CHARITY No. 1060817 ACCOUNTS YEAR ENDED 31ST MARCH 2024 Page 6 of 15 STATEMENT OF TRUSTEES, RESPONSIBIUTIES The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wale5 requires the trustees to prepaie financial stalemeiiL5 fur Edih financial period which give a true and fairview of the state of affairs of the charty and of its financial activities for that period. In preparing these financial statements. the trustees are required to: select suitable accounting policies and apply them consistently," make judgements and estimates that are reasonable and prudent; state whether the policies adopted are In accordance with the appropriate 50RP on Accounting by Charities and the Accounting Regulations and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements: and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports} RegulatK)ns 2LX)8 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. SIGNED ON BEHALF OF THE TRUSTEES BY Richard William Lan8mead (Chair) Date signed 22 November 2024
CHARITY No. 1060817 ACCOUNTS YEAR ENDED 31ST MARCH 2024 Page 7 of 15 PENHURST RETREAT CENTRE CHARITABLE TRUST INDEPENDENT EXAMINERS REPORT YEAR ENDED 31 MARCH 2024 l lu thc LhuriLy itus"ic¢s tny ¥Aatninaliun uf th¢ aLLuunls uf the Penhur•i R¢tT¢ai C¢ntr¢ Charithbl¢ Trust (thc Trust) for the year endcd 31 st Match 2024 set out on pages 8 to 15. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requir¢m¢nts of th¢ Charities Act 2011 ('the Act,). I report in respect of my examinalion of the Trust's accounts as carried out under section 145 of the Act and in carrying out my Cmination I have followed all the applicable D1ctiOnS given by the Charity Commission under section 145(5Xb) of the Act. Independent examiner's ststemeDt I have completed my examination. I confirni that no motters have ¢ome to my attention in connection with the examination giving me cause to IKlt¢ve that in any material respect: ( l) accounting records were not kept in respect of th¢ Trust as reqUId by section 130 of the Ac¢ or (2) the accounts do not accord with those records; or (3) the accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Charities {Accounts and Report) Regulations 2008 other than any requiremcnt that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination" or (4) the accounts hav¢ not been prepared in accordance with the methods and principles of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rew)rting Standard applicable in the UK and the Republic of Ireland (FRS 102) I have no concerns and have come across no oth¢r matters in Connection with the examination to which attention should be drawn in this rep)rt in order to enable a proper undersLqnding of the accounts to be reached. M R Hiekson FCA CTA Jacob Cavenagh & Skcet 5 Robin Hood Lane Sutton Surrey SMI 2SW Datesigned 2S to
CHARrrY No. 1060817 ACCoUPs YEAR ENDED 31ST MARCH 2024 Page 8 of 15 PENIIURST RETREAT CENTRE CIIARITABLE TRUST STATEMENT OF FINANCIAL AcfiviTIF.S YEAR TO 31h)3r2024 Unrtstricttd Restricted Total Fun&s Unrestricted Rcstric¢ed Total FuDds Fund5 Fuath 31103ll024 Funds Funds 3110312023 Note INCOME FROM: Ik)nation4 legac] and grdnts Charitable activities Interest from Dep)sits TOI'AI. INCOME 37229 162,666 10,084 47.313 162,666 13,220 223,199 47.8 181.937 2,398 232,195 8.814 56,674 181.937 5.336 2.938 213 115 EXPENDITURE ON.. Raising Funds Charitable activities TOTAL EXPENDITURE 2217 218.823 221.1140 2217 2?4,113 226J30 2.531 194,062 196593 2.531 202.499 52 52 8.437 NET INCOMEI{EXPENDITURE) 7,92 4,794 Is 38,917 Trdnsters between Funds 13 6.782 (6.782) 327247 (327247) NET MOVEMENT IN FUNDS 3.131 362%9 323932 38,917 RECONCILIATION OF FUNDS Total funds brought forward 1.326.042 8.728 lJ34.770 963.193 332.660 1295,853 TOTAL FUNDS CARRIED FORWARD 24J99 6,740 lJ31,639 lJ26.042 8.728 34,770 The Ststement of Fin8n¢ial A¢tiviti&s in¢ludes all gains and low reco)15¢d in the yw.
C.HARrrY No. I{K817 ACCOUPffS YEAR ENDED 31ST MARCH 2024 Paae 9 of15 PENHURST RETREAT CENTRE CHARITABLE TRUST BALANCE SHEET AS A T 31 MARCH 2024 Notr 2024 2023 FIXED ASSETS Property at Penhurst Other Tangible Fixed Assets 12 1,109.221 1,109,221 345 J2 1.109221 1,109.566 CURRENT ASSETS Debtors Cash ai Bank and in har 16,814 ?89.78?. iUb.59b 11.974 312,821 J25,7Y7 CREDITORS Amounts falling du¢ within on¢ year (49,895) (59.981) NFT CURRF.NT A.Ts 256,701 265,816 TOTAL ASSETS LESS CURRENT LIABILITIES la65922 la75a82 LONG TERM CREDI"I'ORS io Amounts failing due after more than one y {34283) (40.612) NET ASSETS lJ31.639 l J34,770 FUNDS Ullrestrfcted Fund5 14 General Funds lJ24.899 1,326.042 Restricted Funds Development Fund Guest Fees Fund P( & Padikn'k Prujtxx lJ114 1.784 4,956 6,740 4.228 4,500 8.728 TOTAL FUNDS lJ31.639 lJ34,770 The notes (m pages 10 to 15 f(m W of these financial swements. Thes¢ linancial statements were approved by the TnleeS on 22 Novemkn 2024 &atid un thrir tKh&fby - Mr R W IAngmeud
CHARITY No. l(kn0817 ACCoUPs YEAR ENDED 31ST MARCH 2024 Page 10of 15 PE]¥Hu RETREAT CENTRE CHARITABLE TRusr NOTES TO THE FINANCIAL STATEMENIS YEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLICIES 1.1 Accounthig Convenllon The financial statements have been in accor with the Charities Sthtement of Recommended Practice (Charities SORP FRS 102) as amended by UFthte Bulletins l and 2. Financial Re)rtIng Standard 102 ffRS 102) and the CharitiL8 Act 2011. The particular acc4)untillg poli¢i&8 ath)Oed are desLYibed lOw. The financi21 qtatement% have Iten ed under the histnrical )nventi. The charity me£t8 the definiti cjf a pllblic henefit entity under FRS 102. 1.2 Going concern Having reviewed the level of funds available togcther thc fUre project (xthflow& the tnCeS have reaDable exrKctation that the charity b&s adequate rexHJrces to C4)nlinue its &tivÈties for the fortseeable future. AcLwthngly, they cA)nlit]ue to adopt the going concern b&sis in preparing the financial statements. IJ Fixed Assets and Depreciati Tan&ble Ftxed Ats aye slated at hi5tOTical CO le55 depreciation. tkpreciati(m is provi(kd on 1 as (rther than the freehold property. ai IOYO to 25Yo of (x)5t rKr annurn and 15 inlcndcd to writc off thc ovcr thcir 13tirnatcd Uful Iivc5. Thc pcrccntagc so wTittcn off 15 subjcct to annual review. Ex[d]lure on the acquisition of fixed assets over £l,(Ml) (atvroximat¢ly) ts capita]ised at cosL The TCeS consider the value of the Freehold Propty to be in excess of the gm&s iKK)k value at any time and &s such it is no longer appropriate to cbarge depreciation. 1.4 Fund Aecountlng Funds held by the Charity ore ¢la85ified &$ (me of: UnreslrictedGeneral FundT - These are fimds which can be in aectsd with the charitablc i>jcL5 al th¢ disrtion of th¢ trus¢¢¢s. Resiricled - These are funds that can only used for ItIcUlar restricted purp}S within the d>jects of the charity. RestriGtions arise when SFKcified by the donor or when fillth are raised for rtIlar resttictd PUT. These fimds are described in not¢ 13. 1.5 Income ID(x)rne i5 shown on an accruals FAsis. I>)nations are re£ogDisd when received. I[Kle tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legaci¢$ 8re a¢LM)unted for as XK)n a5 any conditions for receipt have been met. l¥ably ury unly th¥ tT¥t plu Llividends and interest are acc(MJnted for when receivable and all(Kated to the appropriate fun(L 1.6 ExpeDdithre xndItUre 1% accnunted f()r (ffi an aecrual% 1. Charitsble expenditure comwises of exIditUre directly r¢lated to the (l)jeL1s of the Charity. (hher than fun(traising costs. all expenditure including ODgoing supFx)rU anItratIOn and governall(r (x)5ts form an integrdl Iwt of the cikst of carying oui the direct ckwitable objectives of the charity. Irrecoverable VAT is char] a8ainst the category of exlly for thich it w&% incurre Fundraising and publicity exkxnditure c(miprises all the eXpndItUre in relati(m to fiuxtraising and publicity for the Ch8rity. including its newslet*r and the managemeni of its iDV&Sttnents. 1.7 Debts•rs Grdnts receivable and other debtors a included at the settlement anK)unt due. Pwayma)ts are VUed at the amount prepai(L
CHARrrY No. 1060817 ACCOUls YEAR ENDED 31ST MARCH 2024 Page11 of 15 PENHURsf RETREAT cETRE CHARITABLE TRUST NOTES TO THE TrINANCIAI. sTATEMETs (CONTINUED) YEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLlCtES (ctinued) 1.8 Cash at bank and Iwid C&sh at bank and in hand includes cash and short terni highly liquid investments with a short maturity of three months OT less from the date of opening of the {kSIL 1.9 Creditor5 and provtsions Creditor5 and provisions are reLX)gnised where the charity h&5 a present Obligati( arising from a twt event that will tthbly result in the lrnnsfer of fimds to a third party and the arnount due to seule the obligation be me&8ured or estimated rellably. Creditors and provisions are recognised at their settlem¢nl amounL 1.10 Fingtt¢ig1 instruments The charity only has fitwKial &ts and liabilities of a kind qualify as basic financial instnunents. Basic financial instnjments are InitilY recognised at tT8ns&ction value and subsequently measured at their settlement value. 2. DONATIONS AND SIMILAR If¥coME [T•restrirte41 Restricted Total Tot1 Funds FuDds Fullds 2•24 2023 Iknnations 33.629 2.277 7,807 10,084 35,4A)6 11,407 47J13 47,484 9,1 $6.674 Tn1 Funds 37229 3. INCOME FROM CHAiUTABLE ACTIVITES Ujrestrided R¢Ti¢l¢d Totsl Fulld5 Tot1 FuDds FUJMIS Funds 2024 2023 Charitable activities MIscellanuS incotne 154.799 7.867 162,666 154,799 7.867 162.666 172,611 9.326 181,937 4. tNCOME FROM INVESTMENTS r¢striet¢d Res¢ri¢ied Total FUd9 Tot*1 Funds "uttds 2024 2023 BaDk & Dep)sit Interest 13220 13320 13.220 13220 5.336 5J36 5. FUNDRAISING EXPENDITURE Uurrlrirtrd irirlrql Tulal Total Fufjds 2024 20 Fundraising and publicity 2.217 2217 2.217 2217 2.531 2.531
CHARrrY No. 1060817 ACCOUNTS YEAR ENDED 31ST MARCH 2024 Page 12 of 15 PENHUILST RETREAT CETh CHARTTABLE TRUST NOTES TO THE blYAYCIAL sfATEMEI%TS (CO]ITIliLED) YEAR ENDED 31 MARCH 2024 6. CHAIUTABLE EXPENDITURE Unre51ricied RrIde Total Funds Total Project Running Costs F•Dds 2024 2023 General ProrKrty Costs Guest Costs 37,762 24.498 45(K) 42262 ?4.498 66,760 29.763 29,982 59.745 62.?60 4,51M) Stsffjng Costs Staff and Housing Costs 137.793 137.793 137.793 137.793 121.772 121.772 Other Chritbk Costs Project Management Costs Other Costs 7J54 71 8.144 6.171 14,315 8.117 6.171 9.425 17,542 7W Interest ott Bouiice Back tKpall - Santandet 1.094 1.237 Governanee Costs Indyndent Examination Fee Trustees, meetings and exFgnses 2.086 2.(5 2.086 2,065 4,151 1.985 218 4.151 2.203 TOTAL CHARITABLE EXPENDITURE 218m3 52 224.113 202,499 IT•r¢StrIrt Restrieted Total FndS 7. STAFF AND TRUSTEES REMUNERATION Fulld5 Fmods 2024 2011 Gro&s wages Employefs NICS (tts8 Credit £5k pa) Employer Pension Contributio$ StatT Accom(M]ation - Rent and Rates TemFK)rary sff Holiday Pay Accrued 112.611 1.521 6339 112.611 ,521 105.498 761 5,941 11,249 13,541 5.053 13,541 5,053 (1272) 137,793 (1272) 137.793 (1,677) 121,772 No employees received clUMents in the year in excas of £60.1KK) (2022123.. None) 2024 2023 Average number of full-time staff employed during the year Average numE¢r of part-time stsff employed during the year Total avernge number of staff elnployed during the year No remuneration was paid lo. or waived by any Trustee in restttt of such offi¢¢. 2024 20 8. DEBTORS Income tax debtor Other income debtor Prepayments 15,076 1.579 159 16014 10,669 1.157 148 11,974
CHARITY No. 1060817 ACCOUNTS YEAR ENDED 31ST Ni4RCH 2024 Page 13of15 PENHURST RETREAT CENTRE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTllibED) YEAR ENDED 31 MARCH 2024 2024 23 9. CREDITOKS: Amounts fa]ling due within e year General Creditors Taxation and social SUrity tkferr¢d income Accrucd holiday pay Accrued bank l(An inter&st Loans due for repayment Gov¢mm¢nt backed Covid Santsnd¢r twi 6.551 37 36,113 797 6.245 35,260 2,069 78 68 10.(KK) 6.329 59,981 6.329 49095 2024 2023 io. CREDITORS: Amounts falling due after one year Government backed Covid SanÉander L( 34,283 34283 40.612 40,612 2024 2D23 11. Government baeked Covid Santander Loan Amount Borrowed brought forward Amount repaid in year Amount Borrow¢41 carried ftorw8rd 46,941 (6.329) 40,612 50,633 (J.692) 46,941 A loan of £50.1XKI was a(fvanced on 7th Au5gU 2020. No interest was kwyable in 12 months &s this w&s UK &)vernment funded. At the end of that year the Charity t(x)k thantsge of a 6 month repayment holiday where any intwesi accrued was added to the loan principle. After that period interest only Ixcatne paydble uniil 7th Augu 2022. Following that date IM)th inter& and wjital repayinents have been made when due. The loan is scheduled to be repaid in full by 7th August 2030. 12. FIXED ASSETS Totsl Assets ment COST Ai I st April 2023 Additions tkss disrwls At 3 1st March 2024 1.109221 9,098 1,118J19 1.109221 1.118J19 ACCLIMUL4TED DEPRECL4 TION At April 2023 Charge for perklml Reversed tkpreciation Less distlS At 31si March 2024 Percenlage Clkwye {8.753) (345) (8,753) (345) {9.098) JOYO., 25% (9,1198) NETBOOA VALUE At 31st March 2024 1.109221 1.109221 At 31st March 2023 .IIYla21 345 1.109.566 The langible fixed &wts are held in direct fifftherance of the charity'5 Objec The TnLStees are of the opinion that the market value of the freeliold pro is not15 than its txM)k value.
CHARrrY No. 1060817 AcCOUPs YEAR ENDED 31ST MARCH 2024 PwJe 14of15 PENHuR RETREAT CENTRE CHARITABLE TRU NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) YEAR ENDED 31 MARCH 2024 13. MOVEMENTS OF REsfRicfED FUNDS 202312024 Blanee at IApr23 Ineome Expenditure & Eains & losses Transfer Bxlance at 31 Mar 24 Development Fund Guest Fund Pond & Paddock Renovation fund Syzygy Mission Supwrt Fuod (oew 2023r24) 2277 2.(1 (2277) (4,505) 4228 4.5 1,784 (4,500) (7(A)) (52W) 5.746 10,084 4.956 6,740 &728 {6,782) 2022ll023 Balanee at IApr22 ltttom¢ Exp¢nditure & gains & losses Trsfer Balance at 31 Mar 23 Development Fund Stall. Accomm(NJation Fund (now closed) Gue Fund Pond & PaddLKk Renovation Fund 2224 2.938 (2,224) (323.252) (1,771) 328.751 (8,437) 4,228 4,5(Kl 8,728 4,5(X) lJ.752 332,660 (8.437) (327247) The Development Fund relates to donations given for stKcific projects for the imwovement of the Manor Hous¢. The transfer during the year is in respect of the utilisation of these fimts on pro improvements. The Staff A¢commixlation Fund w&s set up to provide suitable a(xomm(thion for stsff. Thc ¢knor5 (thc fonDer Trustces of the closed Benjamin Tn) unanirnously agreed to the Funds Ing dRestrICted and put to the g(Mxl $¢ of Penhurst Retreat Centre. As such this fund h&s been closed. The GuesL Fund is subsidise the stay of certain guuts in Ilne with the temis sd by the (kxK)r. The transler represents the subsidy provided to guests via thig fun The Pond & Paddock Projeci is a genen)$ grant from Sussex Lund to enable restoration and improvements to be made to the Centre's pond and padthk area. The Swgy Misslon sUprt Fund is made up of fund5 dOnad the Centre by the Syzygy Cbarity on its closure for the sUPWrt of Mi&sion Workers when staying at the Centre and any alat MISSI( relad expenditur
CHARITY No. 1060817 ACCOUls YEAR ENDED 31ST MARCH 2024 Page 15 of 15 PENHURST RETREAT CENTRE CHARITABLE TRusr NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR EIYDED 31 MARCH 2024 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Fixed Current Long Term Totsl Restricted Funds Development Fund Guest Fund Pond & Padd(xk Renovation Fund SYZY Mi&sion sup[ Fund 1,784 1,784 4,956 6,740 4,956 6.740 Uttrtttrieted Fu#ds Free Reserves 249,961 249.961 Fixed asset rewve Tutsl Fun¢Ls I,l(M).221 1.109221 (34,283) (34283) 1,074,938 lJ31,639 256.701 2023 Fiied Cvrent iKbDg Tern Libilitie Tot81 Restricted Fuads Development Fund Staff Accommlxlation Fund (iuest Fund 4228 4,5 8.728 4228 4,5(K) 8.728 IlnrÉEtrirtod Fund Free reserves Fixed asset reserve 257.088 257.088 1,068,954 1.109.566 (40,612) Tothl Funds 1,109566 265J16 (40,612) lJ34,770 IS. RCI LATCD PARTY DISCLOSURES The charity maintains a confiicts of interest regiskr and tnL8te&% re8i5ter any relat1 inrests before there is dI10n on any granls and trustees do not tske in any decisions when th¢re is a ¢onflTct of interest During the year Ik)nations totalling £1(2023. £7(X)) were received from trusitts. Trdvelling Ext of £1.41AI (2023.. £218) were paid to thrcc tru5tffs (2023: One). There were no other related tmrty Iransaciions other than £814 that was ac£rued in the previous year. (2023: 2 payments were made totalling £563 and a filler £814 was accruc41 but wt paid by the yearend lor building reFoirs to a company owned by a trust¢e).