Penhurst Retreat Centre Charitable Trust
Registered Charity 1060817
The Manor House, Penhurst, Battle, TN33 9QP
REPORTS AND FINANCIAL STATEMENTS
For the year ended 31 March 2025
| Contents | Page |
|---|---|
| Legal and administrative information | 1 |
| Report of the Trustees | 2-6 |
| Independent Examiner's report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the accounts | 10-16 |
CHARITY No. 1060817 PENHURsf REfREAT CENfRE CHARITABLE TRUST Page l of 16 LEGAL AND ADMINisfRATIVE INFORMATION YEAR ENDED 31 MARCH 2025 Trustees Michael Brackpool (retired 14 February 20251 David J Greenslade John Charles French (resigned 5 October 2024) John A Lyttle {retired 18 November 2024) Douglas Roger Wakeling John Lowood Richards Richard William Langmead (Chair) Louisa Gail Bailey {appointed 10 October 2024) John Francis MacDiarmid (appointed 22 November 2024} Rev Gary Marshall Cregeen {appointed 31 May 20251 Trust Office The Manor House Penhurst East Sussex TN33 9QP Tel: 01424 892088 E-mail: info@penhurst.org.uk Bankers Santander Bank 2 Triton Square. Regent'5 Place LONDON NWI 3AN Investment Bankers CCLA 8Q Cheapside LONDON EC2V 6DZ Independent Examiner Lorraine Brown Blue Ridge Accounting ServIs Ltd The Old Court House North Trade Road Battle TN33 OEX Charity Re8lStration Registered Charity no 1060817
CHARITY No. 1060817 PENHURST REfREAT CENTRE CHARABLE TRusr Page 2 of 16 REPORT OF THE TRusfEES YEAR ENDED 31 MARCH 2025 The Trustees have pleasure in submitting their report together with the financial statements for the year ended 31st March 2025. The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (Charities 50RP FRS 1021 as amended by Update Bulletins l and 2, Financial Reporting Standard 102 IFRS 102) and the Charities Art 2011. LEGAL AND GOVERNANCE ISSUES 1.1 Constitution of the Charity and Status The governing instrument of the charity isthe trust deed dated 23rd September 1996 and amended by deed th of variation dated 30 June 1997 and 8 October 2002. The Charity was registered with the Charity Commission on 19th February 1997 with the number 1060817. The Charity is registered with HM Revenue and Customs IHMRCI. reference XR 21863 and is exemptfrom corporation tax under part 10 of the Income tax Att 2007. 1.2 Trustee Body The Trustees who held Offi during the year and to the date of this report are listed on page I, Legal and Administrative Information. We bid farewell to John ttle. John French and Mike Brackpool who. together. gave many years of invaluable service. We welcomed Lou Bailey and John McDiarmid as new Trustees. 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 are appointed by the Trustee body. following a skills analysis and suitable references. Mr Richard Langmead currently seNes as Chair of the trustee body. 1.3 Trustee inductlon 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 bythe network fortraining and support. 1.4 Trustee meetings The Trustees normally sthedule four meetings each year and are usually joined by the Centre Manager/Director. All meetings are fully recorded with clear decisions and action points. The Trustees have 3 comprehensive annual programme to ensure that policies and procedures are regularly updated and reviewed. Legal advice is sought when necessary. A register of Trustees. interests is held to ensure that there are no conflicts 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 conflitt 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 to assist the management with the running of the Charity- Some Trustees provide practical support in running the Charity. others help with management and others with property maintenance. They seek to provide ongoing support to the paid stsff and volunteers. Forthe financial yearcovered by this report. the Charity was managed on a day-to-day basis byjoanna Legg- Bagg Icentre Manager, left in August 20241 and Jason Cottingham Ilnterim Centre Director from July 2024, and Centre Directorfrom November 20241. Annual appraisal is undertaken with them and trustees are asked to contribute to this process.
Page 3 of 16
PENHURST RETREAT CENTRE CHARITABLE TRUST
CHARITY No. 1060817
REPORT OF THE TRUSTEES {Cont'd) YEAR ENDED 31 MARCH 2025
1.6 Risk Management
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.
2. OBJECTIVES OF THE CHARITY
The objectives of the charity are:
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(i) The advancement of the Christian religion either in the United Kingdom or overseas
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(ii) The advancement for the public benefit of religious or other education
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(iii) The relief of the aged, poor, sick or disabled
The Trustees aim to pursue these objectives through running a specialist Retreat Centre at Penhurst. The particular emphasis of the Retreat Centre is to provide retreat facilities for individuals and small groups returning from stressful environments overseas or within the UK or preparing to serve overseas. This is done through led group retreats and individual retreats which provide the opportunity for private reflection.
3. ACTIVITIES, PERFORMANCE AND OUTCOMES
3.1 Review 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 Retreat Centre has welcomed mission partners from all over the world, as well as groups from a variety of UK agencies and churches.
This year was characterised by a review of the Retreat Centre's organisational structure to streamline the administrative function and improving on the service and guest experience that we provide. With the departure in August of Joanna Legg-Bagg, Centre Manager, Mr Jason Cottingham was appointed as Interim Director and subsequently confirmed as Centre Director in November 2024. Mr Mark Strand was hired as a short-term consultant during the handover, with a focus on tackling some projects to improve the facilities and management of the Centre. A new strategy document was produced from discussions between the Chairman and management. Early results of these changes have been a more coherent and motivated staff team and an enhanced guest experience.
A new website was launched, enabled by a new Starlink internet service, together with a redesigned and much improved annual brochure and programme.
The Retreat Centre continues to be a member of Global Connections, but has had less participation than in previous years in GC Member Care and HR Forums and the wider European Member Care network.
The Retreat Centre often uses trained de-briefers to assist mission partners returning to their passport country or in transition and this is a key element of the service provided by the Retreat Centre. The Retreat Centre has continued to encourage further training in de-briefing and listening skills so that we can respond to guests returning from difficult situations overseas. Staff and volunteers are also involved in various retreat networks based on spiritual accompaniment, and support for those on their faith journeys.
Each year two newsletters are sent out either electronically or by mail to supporters and potential users, who also receive the retreat programme. Much work has gone into continuing to ensure these mailings comply with good practice and the GDPR regulations. The retreat programme is also regularly distributed to key mission agencies as are flyers and advertisements.
CHARITY No. 1060817 PENHURST RREAT CERE CHARrfABLE TRUST Page 4 of 16 REPOKT OF THE TRUSTEES (Convd) YEAR ENDED 31 MARCH 2025 3.2 Outcome5 and Impact The Retreat Centre aims to provide the environment where small groups and individuals preparing to serve overseas or returning from stressful environments overseas or working within the UK can find physical, mental and spiritual renewal. The Retreat Centre Director together with the Trustees regularly survey the perceived benefit to retreatants through- Visitors, book and guest feedback form. This is a way of receiving feedback and the Retreat Centre is regularly praised for the sense of renewal people receive. Use by mission agencies: The number of referrals from mission agencies is encouraging and the Retreat Centre has a good reputation among its main client group. Use by others: The Retreat Centre is now being used regulady 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 care agenues and ntre5 in Europe. 3.3 Public Benefit The Trustees are committed to improving the organisation's practice and ensuring that it delivers public benefit as it fulfils its objectives 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 Retreat Centre is open to all wishing to access its services. including those of other faiths or none. provided that they respect the Christian ethos of the Retreat Centre. FINANCIAL OVERVIEW 4.1 Results Details of the financial results for the financial year are given in the Ststement of Financial Activities on Page 8 and the Balance Sheet on Page 9 and the accompanying notes on Pages 10-16. The Retreat Centre f(Kused on improving faalities. IT infrastrutture and guest rooms in the first half of the year and has had an encouraging response with a higher number of guests coming in 2024 compared to the previous year. and guests actively commenting on overall improvement of the Retreat Centre. However, continued economic pressures and increases in cost of food and utilities in particular, together with the cost of upgrades, led to an overall deficit of £33,869,123/24= deficit of £3.1311. During theyear ending 31st March 2025. guest fees were £177,958123124: £154.7991. Donations and grants amounting to £22.935123124: £47,313) were received. Total expenditure for the year was £255.089123124.' £226,330). Details of related party transartions are as set out in note 15 to the accounts. TheTrustees remain committedto investresources in staff salaries, trainingand development. butcontinued economic pressures and investment for long term SUc$S of the Retreat Centre, meant that savings on expenditure needed to be made. This trend may need to continue into the future years until our reserves have been restored. This year a fundraising campaign is planned to help boost our reserves. 4.2 Going Concern: Having reviewed the level of funds available together with the future projected cash flow. the Trustees have reasonable expectation that the Retreat Centre has adequate resour5 to continue its activities for the current financial year. Accordingly. they continue to adopt the going concern basis in preparing the financial statements.
Page 5 of 16
PENHURST RETREAT CENTRE CHARITABLE TRUST
CHARITY No. 1060817
REPORT OF THE TRUSTEES {Cont'd) YEAR ENDED 31 MARCH 2025
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 requirements of the charity. 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 reserves (general fund current assets excluding long term interest free loans) were £201,265 (23/24: £249,961). The Trustees aim to repay the loans when due and where possible maintain the level of reserves at its declared policy.
5. FUTURE DEVELOPMENTS
The Trustees are confident that the Retreat Centre offers an exceptional experience to all who visit. However, we recognise that our visibility remains limited, potentially causing us to miss opportunities to reach those who are unaware of our offer. In response, we are committing focused resources to enhance our publicity, marketing, and communications. This effort aims to increase our profile within the Christian community across the South of England and beyond. Our strategy includes launching a new website, creating new brochures, and proactively using these tools to extend our reach, particularly to churches, young professionals and Christian leaders.
While we are grateful for significant reserves and generous donations, 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 success of the Retreat Centre. 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:
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Enhance the guest experience by maintaining a warm, welcoming atmosphere, with a significant focus on increasing bookings.
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Allocate funds strategically to pay off loans and manage due payments effectively.
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Expand our led retreat program, with a particular focus on mission partners, leaders, and young professionals.
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Continue to review and improve data management practices, ensuring best practices and legal compliance in fundraising and personal data usage.
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Improve and update of the bedrooms on a room-by-room basis as resources allow.
6. INDEPENDENT EXAMINER
The Trustees undertook a competitive tendering process for the appointment of the charity's independent examiner during the financial year. This decision was part of the Trustees Board's commitment to good governance and ensuring continued value for money. As a result, Blue Ridge Accounting Services Ltd, was appointed and sincere gratitude was extended to Jacob Cavenagh & Skeet for their service to the Retreat Centre.
Page 6 of 16
PENHURST RETREAT CENTRE CHARITABLE TRUST
CHARITY No. 1060817
REPORT OF THE TRUSTEES (Cont'd) YEAR ENDED 31 MARCH 2025
7. STATEMENT OF TRUSTEES' RESPONSIBILITIES
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 Wales requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of its financial activities for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudently;
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state whether the policies adopted are in accordance with the appropriate SORP 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
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prepare the financial statements on the going concern 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) Regulations 2008 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 Langmead (Chair)
Date signed: 12 *16* . \ 2.-cl-5:°
Page 7 of 16
CHARITY No. 1060817
PENHURST RETREAT CENTRE CHARITABLE TRUST
INDEPENDENT EXAMINERS REPORT YEAR ENDED 31 MARCH 2025
I report to the charity Trustees on my examination of the accounts of the Penhurst Retreat Centre Charitable Trust ("the Trust") for the year ended 31[st ] March 2025 set out on pages 8 to 16.
Responsibilities and basis of report
As the charity's Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:
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(1) the accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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(2) the accounts do not accord with those records; or
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(3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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
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(4) the accounts have 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 Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102).
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 accounts to be reached.
Lorraine Brown
Blue Ridge Accounting Services Ltd The Old Court House North Trade Road Battle
East Sussex TN33 0EX
Date signed: 17 December 2025
Page 8 of 16
CHARITY No. 1060817
PENHURST RETREAT CENTRE CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025
| Total | Total | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Funds | Unrestricted | Restricted | Funds | ||
| Note | Funds | Funds | 31/03/2025 | Funds | Funds | 31/03/2024 | |
| £ | £ | £ | £ | £ | £ | ||
| INCOME FROM: | |||||||
| Donations, legacies and grants | 2 | 19,272 | 3,663 | 22,935 | 37,229 | 10,084 | 47,313 |
| Charitable activities | 3 | 186,870 | - | 186,870 | 162,666 | - | 162,666 |
| Deposit Interest | 4 | 11,415 | 11,415 | 13,220 | - | 13,220 | |
| TOTAL INCOME | 217,557 | 3,663 | 221,220 | 213,115 | 10,084 | 223,199 | |
| EXPENDITURE ON: | |||||||
| Raising Funds | 5 | 5,607 | 5,607 | 2,217 | - | 2,217 | |
| Charitable activities | 6 | 248,571 | 911 | 249,482 | 218,823 | 5,290 | 224,113 |
| TOTAL EXPENDITURE | 254,178 | 911 | 255,089 | 221,040 | 5,290 | 226,330 | |
| NET INCOME/(EXPENDITURE) | (36,621) | 2,752 | (33,869) | (7,925) | 4,794 | (3,131) | |
| Transfers between Funds | 13 | 2,238 | (2,238) | 6,782 | (6,782) | ||
| NET MOVEMENT IN FUNDS | (34,383) | 514 | (33.869) | (1,143) | (1,988) | (3,131) | |
| RECONCILIATION OF FUNDS | |||||||
| Total funds brought forward | 1,324,899 | 6,740 | 1,331,639 | 1,326,042 | 8,728 | 1,334,770 | |
| TOTAL FUNDS CARRIED FORWARD | 1,290,516 | 7,254 | 1,297,770 | 1,324,899 | 6,740 | 1,331,639 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
Page 9 of 16
CHARITY No. 1060817
PENHURST RETREAT CENTRE CHARITABLE TRUST
BALANCE SHEET YEAR ENDED 31 MARCH 2025
| Note | 31/03/2025 | 31/03/2024 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXED ASSETS | |||||
| Property at Penhurst | 12 | 1,109,221 | 1,109,221 | ||
| Other Tangible Fixed Assets | 12 | 8,159 | |||
| 1,117,380 | 1,109,221 | ||||
| CURRENT ASSETS | |||||
| Debtors | 8 | 2,777 | 16,814 | ||
| Cash at Bank and in hand | 246,925 | 289,782 | |||
| 249,702 | 306,596 | ||||
| CREDITORS | |||||
| Amounts fallingdue within one year | 9 | (41,183) | (49,895) | ||
| NET CURRENT ASSETS | 208,519 | 256,701 | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 1,325,899 | 1,365,922 | |||
| LONG TERM CREDITORS | 10/11 | ||||
| Amounts fallingdue after more than one year | due after more than one year | (28,129) | (34,283) | ||
| NET ASSETS | 1,297,770 | 1,331,639 | |||
| FUNDS | |||||
| Unrestricted Funds | 14 | ||||
| General Funds | 1,290,516 | 1,324,899 | |||
| Restricted Funds | 13/14 | ||||
| Guest Fees Fund | 2,440 | 1,784 | |||
| SyzygyMission Support Fund | 4,814 | 4,956 | |||
| 7,254 | 6,740 | ||||
| TOTAL FUNDS | 1,297,770 | 1,331,639 |
The notes on pages 10 to 16 form part of these financial statements.
These financial statements were approved by the Trustees on 16 December 2025 and signed on their behalf by
c"J -e
Page 10 of 16
CHARITY No. 1060817
PENHURST RETREAT CENTRE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025
1.ACCOUNTING POLICIES
1.1 Accounting Convention
The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP FRS 102), Financial Reporting Standard 102 (FRS 102) and the Charities Act 2011. The particular accounting policies adopted are described below.
The financial statements have been prepared under the historical cost convention. The charity meets the definition of a public benefit entity under FRS 102.
1.2 Going concern
Having reviewed the level of funds available together with the future projected cashflows, the trustees have reasonable expectation that the charity has adequate resources to continue its activities. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
1.3 Fixed Assets and Depreciation
Tangible Fixed Assets are stated at historical cost less depreciation. Depreciation is provided on all assets, other than the freehold property, at 10 to 25% of cost per annum and is intended to write off the assets over their estimated useful lives. The percentage so written off is subject to annual review. Expenditure on the acquisition of fixed assets over £1,000 (approximately) is capitalised at cost.
The estimated residual value of the freehold property is not less than the net book amount at any given time.
1.4 Fund Accounting
Funds held by the charity are classified as one of
Unrestricted General Funds -These are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted Funds -These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. These funds are described in note 13.
1.5 Income
Income is shown on an accruals basis. Donations are recognised when received. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legacies are accounted for as soon as any conditions for receipt have been met.
Fees receivable are only recognised once the retreat has taken place.
Dividends and interest are accounted for when receivable and allocated to the appropriate fund.
Page 11 of 16
CHARITY No. 1060817
PENHURST RETREAT CENTRE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (Cont'd) YEAR ENDED 31 MARCH 2025
1.6 Expenditure
Expenditure is accounted for on an accruals basis.
Charitable expenditure comprises of expenditure directly related to the objects of the Charity. Other than fundraising costs, all expenditure including ongoing support, administration and governance costs form an integral part of the cost of carrying out the direct charitable objectives of the charity.
Fundraising and publicity expenditure comprises all the expenditure in relation to fu ndraising and publicity for the Charity, including its newsletter and the management of its investments.
1.7 Debtors
Grants receivable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.
1.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.
1.9 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
1.10 Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Page 12 of 16
PENHURST RETREAT CENTRE CHARITABLE TRUST
CHARITY No. 1060817
NOTES TO THE FINANCIAL STATEMENTS (Cont'd) YEAR ENDED 31 MARCH 2025
| 2. DONATIONS AND SIMILAR INCOME | 2. DONATIONS AND SIMILAR INCOME | UnrestrictedRestricted | UnrestrictedRestricted | Total Funds | Total |
|---|---|---|---|---|---|
| Funds -- |
Funds | 2025 - |
Funds | ||
| £ | £ | £ | 2024 | ||
| £ | |||||
| Donations | 17,122 | 2,238 | 19,360 | 35,906 | |
| Trust Funds | 2,150 | 1,425 | 3,575 | 11,407 | |
| 19,272 | 3,663 | 22,935 | 47,313 | ||
| 3. INCOME FROM CHARITABLE ACTIVITES | 3. INCOME FROM CHARITABLE ACTIVITES | Unrestricted Restricted | Total Funds | Total Funds |
|
| Funds -- |
Funds | 2025 -- |
2024 -- |
||
| £ | £ | £ | £ | ||
| Charitable activities | 177,958 | 177,958 | 154,799 | ||
| Miscellaneous income | 8,912 | 8,912 | 7,867 | ||
| 186,870 _————————— |
186,870 | 162,666 nd |
|||
| **4. ** | INCOME FROM INVESTMENTS | UnrestrictedRestricted | Total Funds | Total Funds |
|
| Funds | Funds | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Bank & Deposit Interest | 11,415 | 11,415 | 13,220 | ||
| 11,415 | 11,415 | 13,220 | |||
| **5. ** | FUNDRAISING EXPENDITURE | UnrestrictedRestricted | Total Funds | Total Funds |
|
| Funds | Funds | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Fundraising and publicity | 5,607 | 5,607 | 2,217 | ||
| 5 607 ~~ee~~ ~~ee~~ |
5 607 ~~ee~~ |
2,217 ~~oe~~ |
Page 13 of 16
PENHURST RETREAT CENTRE CHARITABLE TRUST
CHARITY No. 1060817
| Unrestricted | Unrestricted | Unrestricted Restricted |
Unrestricted Restricted |
Total Funds | Total Funds | Total Funds | Total Funds | ||
|---|---|---|---|---|---|---|---|---|---|
| **6. ** | CHARITABLE EXPENDITURE | ||||||||
| Funds | Funds | Funds | 2025 | 2024 | |||||
| £ | £ | £ | £ | £ | £ | ||||
| Project Running Costs | |||||||||
| General Property Costs | 40,558 | 40,558 | 42,262 | ||||||
| Guest Costs | 33,258 | 911 | 34,169 | 24,498 | |||||
| 73,816 | 911 | 74,727 | 66,760 | ||||||
| Staffing Costs | |||||||||
| Staff and Housing Costs | 142,620 | 142,620 | 137,793 | ||||||
| 142,620 | 142,620 | 137,793 | |||||||
| Other Charitable Costs | |||||||||
| Project Management Costs | 8,220 | 8,220 | 8,144 | ||||||
| Other Costs | 21,192 | 21,192 | 6,171 | ||||||
| 29,412 | 29,412 | 14,315 | |||||||
| Bank Interest on Loans (Santander) | 624 | 624 | 1,094 | ||||||
| Governance Costs | |||||||||
| Independent Examination Fee | 1,075 | 1,075 | 2,086 | ||||||
| Trustees' meetings and expenses | 1,024 | 1,024 | 2,065 | ||||||
| 2,099 | 2,099 | 4,151 | |||||||
| TOTAL CHARITABLE EXPENDITURE | Ce | 248 571 | 911 | 249,482 EEE |
224,113 = |
||||
| Total | |||||||||
| 7. STAFF AND TRUSTEES COSTS | Un restricted | Restricted | Restricted Total Funds |
Funds | |||||
| Funds | Funds | Funds | 2025 | 2024 | |||||
| £ | £ | £ | £ | ||||||
| Gross wages | 114,289 | 114,289 | 112,611 | ||||||
| Employer's NICs | 1,561 | 1,561 | 1,521 | ||||||
| Employer Pension Contributions | 5,394 | 5,394 | 6,339 | ||||||
| Staff Accommodation - Rent and Rates | 17,190 | 17,190 | 13,541 | ||||||
| Temporary Staff | 3,325 | 3,325 | 5,053 | ||||||
| Holiday Pay Accrued | 861 | 861 | (1,272) | ||||||
| 142,620 | 142,620 | 137,793 |
| No employees received emoluments in the year in excess of £60,000 (2023/24: None). | ||
|---|---|---|
| 2025 | 2024 | |
| Average number of employees of full-time staff employed during the year | 1 | 3 |
| Average number of employees of part-time staff employed during the year | 7 | 5 |
| Total average number of staff employed during the year | 8 | 8 |
No remuneration was paid to or waived by any Trustee in respect of such office.
CHARITY No. 1060817
Page 14 of 16
PENHURST RETREAT CENTRE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (Cont'd) VEAR ENDED 31 MARCH 2025
| 2025 | 2024 | ||
|---|---|---|---|
| **8. ** | DEBTORS & PREPAYMENTS | £ | £ |
| Income tax debtor | 1,031 | 15,076 | |
| Other income debtor | 1,253 | 1,579 | |
| Prepayments | 493 | 159 | |
| 2 777 | 16,814 | ||
| 2025 | 2024 -- |
||
| **9. ** | CREDITORS:Amounts falling due within one year | £ | £ |
| Trade Creditors | 1,826 | 6,551 | |
| Taxation and social security | 440 | 37 | |
| Accruals and deferred income | 26,558 | 36,181 | |
| Accrued holiday pay | 1,658 | 797 | |
| Government backed Covid Santander Loan | 6,329 | 6,329 | |
| Other Creditors | 4,372 | ||
| 41,183 ~~—~~ |
49,895 ——— |
||
| 2025 | 2024 | ||
| **10. ** | CREDITORS:Amounts falling due after one year | £ | £ |
| Government backed Covid Santander Loan | 28,129 | 34,283 | |
| 28,129 —~~——E~~ |
34,283 — |
||
| 2025 -- |
2024 -- |
||
| **11. ** | Government backed Covid Santander Loan | £ | £ |
| Amount Borrowed brought forward | 34,283 | 40,612 | |
| Adjustment to balance brought forward | 175 | ||
| Amount repaid in year | (6,329) | (6,329) | |
| Amount Borrowed carried forward | 28,129 | 34,283 |
A UK Government backed loan of £50,000 was advanced on 7th August 2020, with no interest payable in first 12 months. At the end of the interest-free period, the Charity took advantage of a 6-month repayment holiday where any interest accrued was added to the loan principle. After that period interest only became payable until 7th August 2022. Following that date, both interest and capital repayments have been made when due. The loan is scheduled to be repaid in full by 7th August 2030.
CHARITY No. 1060817
Page 15 of 16
PENHURST RETREAT CENTRE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (Cont'd) YEAR ENDED 31 MARCH 2025
12. FIXED ASSETS
| 12. FIXED ASSETS | |||
|---|---|---|---|
| 12. FIXED ASSETS COST |
Property Furnishings & ID |
Property Furnishings & Equipment ~~f~~il |
Total Assets |
| As at 01 April 2024 | 1,109,221 | 9,098 | 1,118,319 |
| Additions | 10,879 | 10,879 | |
| Less disposals | |||
| As at 31 March 2025 | 1,109,221 —~~_———————~~— |
19,977 —=—~~——————~~ |
1,129,198 ~~[=~~ |
| As at 01 April 2024 | (9,098) | (9,098) | |
| Charge for period | (2,720) | (2,720) | |
| Reversed Depreciation | |||
| Less disposals | |||
| As at 31 March 2025 | ~~—~~ | (11,818) —~~—~~ |
(11,818) ~~ee~~ |
| Percentage Charge | 10%1 | ||
| 25% | |||
| NET BOOK VALUE | |||
| As at 31 March 2025 | 1,109,221 | 8,159 | 1,117,380 |
| ————— | SSS | —————___=—— | |
| As at 31 March 2024 | 1,109,221 ~~—————_~~ |
$$ | 1 109 221 ——~~+———=~~ |
The tangible fixed assets are held in direct furtherance of the charity's objects. The Trustees are of the opinion that the market value of the freehold property is not less than its book value.
13.MOVEMENTS OF RESTRICTED FUNDS
| Balance at | Income | Expenditure Transfers | Expenditure Transfers | Balance at | |
|---|---|---|---|---|---|
| 2025 | 01 Apr 24 £ |
& gains £ |
&losses £ |
£ £ |
31 Mar 25 £ |
| Development Fund | 2,238 | (2,238) | |||
| Guest Fund | 1,784 | 1,388 | (732) | 2,440 | |
| Syzygy Mission Support Fund | 4,956 | 37 | (179) | 4,814 | |
| 6,740 3,663 (911) (2,238) 7,254 ~~SS~~ |
|||||
| Balance at | Income | Expenditure | Transfers | Balance at | |
| 2024 | 01 Apr 23 £ |
& gains £ |
&losses £ |
£ | 31 Mar 24 £ |
| Development Fund | 2,277 | (2,277) | |||
| Guest Fund | 4,228 | 2,061 | (4,505) | 1,784 | |
| Pond & Paddock Renovation Fund | 4,500 | (4,500) | |||
| Syzygy Mission Support Fund | 5,746 | (790) | 4,956 | ||
| 8,728 10,084 (5,290) (6,782) 6,740 ~~se~~ _ |
The Development Fund relates to donations given for specific projects for the improvement of the Manor House. The transfer during the year is in respect of the utilisation of these funds on property improvements.
The Guest Fund is the subsidise the stay of certain guests in line with the terms set by the donor. The transfer represents the subsidy provided to guests via this fund.
Page 16 of 16
PENHURST RETREAT CENTRE CHARITABLE TRUST
CHARITY No. 1060817
NOTES TO THE FINANCIAL STATEMENTS (Cont'd) YEAR ENDED 31 MARCH 2025
The Syzygy Mission Support Fund is made up of funds donated to the Centre by the Syzygy Charity, on its closure, for the support of Mission Workers when staying at the Centre and any associated Mission related expenditure.
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| 2025 | Long | |||
|---|---|---|---|---|
| Fixed | Current | Term | Total | |
| Restricted Funds | Assets £ |
Assets £ |
Liabilities £ |
Assets £ |
| Guest Fund | 2,440 | 2,440 | ||
| Syzygy Mission Support Fund | 4,814 | 4,814 | ||
| 7,254 | 7,254 | |||
| Unrestricted Funds | ||||
| Free reserves | 201,265 | 201,265 | ||
| Fixed asset reserve | 1,117,380 | (28,129) | 1,089,251 | |
| Total Funds | 1,117,380 | 208,519 | (28,129) | 1,297,770 |
| Long | ||||
|---|---|---|---|---|
| 2024 | Fixed | Current | Term | Total |
| Assets | Assets | Liabilities | Assets | |
| Restricted Funds | £ | £ | £ | £ |
| Guest Fund | 1,784 | 1,784 | ||
| Syzygy Mission Support Fund | 4,956 | 4,956 | ||
| 6,740 | 6,740 | |||
| Unrestricted Funds | ||||
| Free reserves | 249,961 | 249,961 | ||
| Fixed asset reserve | 1,109,221 | (34,283) | 1,074,938 | |
| Total Funds | 1,109,221 | 256,701 | {34,283) | 1,331,639 |
15.RELATED PARTY DISCLOSURES
The charity maintains a conflicts of interest register and trustees note any related party interests before there is discussion on any grants and trustees do not take part in any decisions when there is a conflict of interest.
During the year, donations totalling £550 (2024: £1,300) were received from Trustees. Travelling and subsistence expenses of £1,024 (2024: £1,490) were paid to the Trustees. There were no other related party transactions.