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← The Retreat York

2024-12-31-accounts

The Retreat York

Company number: 04325622

Charity number: 1089826

Report and Financial Statements

For the year ended 31 December 2024

Contents

Reference and administrative information ....................................................................................................... 1 Report of the Clerk to the Board…………………………………………………………………………………………………………………..2 Trustees’ annual report ..................................................................................................................................... 3 Independent auditor’s report .......................................................................................................................... 13 Statement of financial activities (incorporating an income and expenditure account) ................................... 17 Balance sheet ................................................................................................................................................... 18 Statement of cash flows ................................................................................................................................... 19 Notes to the financial statements ................................................................................................................... 20

The Retreat York Reference and administrative information For the year ended 31 December 2024

Company number 4325622 Charity number 1089826 Registered office address The Tuke Centre 28 Green Dykes Lane York YO10 3HH Country of registration England & Wales Country of incorporation United Kingdom Other Names The Registered Name of the organisation at Companies House is The Retreat York, since working in Manchester we rebranded the organisation to be known as The Retreat Clinics

Trustees

Trustees, who are also Directors under company law, who served during the year and up to the date of this report were as follows:

James Eddington[2,3] Martin Ford[3 ] David Robson[1 ] Clerk to the Board Clare Scott Booth[ 2,3 ] Christian Farrell[1] Resigned 16[th] December 2024 Ruth McTighe[1]

1 Member of the Quality and Safety Committee

2 Member of the Remuneration Committee

3 Member of the Audit Committee

Key Management Personnel Ruth Dixon Chief Executive Officer Heather Anderson Chief Finance Officer – Appointed 02/01/2024 Julie Hanson Business Manager Helen Cragg Clinical Services Manager – Appointed 22/04/2025 Bankers HSBC Bank plc Solicitors Cowling, Swift & Kitchin Solicitors 13 Parliament Street 8 Blake Street York Y01 1XS York YO1 8XJ Investment Sarasin & Partners Auditor Sayer Vincent LLP Managers Juxon House 110 Golden Lane 100 St Paul's Churchyard London EC1Y 0TG London EC4M 8BU

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The Retreat York Report of the Clerk to the Board For the year ended 31 December 2024

Report of the Clerk to the Board

The sale of our estate completed on 8[th] April 2025 after a very prolonged process outside of the control of the organisation. This has now secured our future for the medium term during which we are seeking alternative income streams to work towards a break-even position within the next 5 years. As part of this aim, we have taken the decision to sell our property in Manchester. We exchanged contracts for the property on 5[th] June 2025 with a completion date of 14[th] August 2025.

The Board continues to show commitment to in-person service delivery at both the Tuke Centre in York and in Manchester.

Recruitment of specialist clinical staff continues to be challenging.

Our mission is to deliver high quality, sustainable, renowned mental health services, alongside Autism and ADHD Services, helping people to live well with themselves so that we all live better together.

This is a challenging mission in the light of the current financial situation in the UK, but we continue to work towards this and are determined to succeed.

Clinical Services

We are striving to allow clients the choice of online or face-to-face therapy dependent on their preference whilst meeting the needs of our staff by offering a flexible, family friendly approach.

We are continuing to focus on our two ‘big things’– therapy and Autism/ADHD Services for people of all ages. We offer a balance between self-funded and NHS funded services.

We continue to promote our online services to people on a sub-regional basis, widening our reach and providing services further afield.

Investments and Resources - The Retreat continued to draw down on Investments during 2024. Retaining £0.176m in December 2024 (£2.237m December 2023). In addition to the investments The Retreat held £0.637m in cash at the end of December 2024. Included within the cash held were two loans, please see Financial Review section for a detailed breakdown. These figures exclude our unlisted investments.

David Robson Ruth Dixon Clerk to The Board Chief Executive Officer

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The Retreat York Trustees’ annual report For the year ended 31 December 2024

The Trustees present their report and the audited financial statements for the year ended 31 December 2024.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with the requirement of the Directors’ Report as required under company law, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives

The focus of our work

The Retreat is a charitable, not-for-profit provider of care related to people’s mental wellbeing and enabling neurodiverse people to reach their full potential and live well. We work both with the NHS and with self-funded clients and organisations in the provision of community based neurodevelopmental and mental health services for people of all ages.

The Retreat Clinics believes that successful therapeutic relationships are based on respect, dignity and tolerance and ensures the voice of the people who use its services, along with their friends, families and carers are given every opportunity to be heard.

Our main objectives for 2024 continued to be the promotion of positive mental health and the acceptance and celebration of neurodiversity. The strategies we used to meet these objectives continued to include:

The Trustees review the aims, the objectives and activities of the charity each year. In 2024 the Trustees decided that the organisation’s current aims, objectives and activities did not require a change and that the main aims during 2024 (as in 2023) were stability, financial steady state and employee wellbeing. These objectives will be considered further in 2025.

This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The Trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes

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The Retreat York Trustees’ annual report For the year ended 31 December 2024

Purposes and aims

The Retreat’s purpose as set out in the objects contained in the company’s Articles of Association, are to relieve suffering from mental illness. In simple language we describe this simply as ‘improving people’s mental health’.

Our strategic objectives for 2024

Our strategic objective remained the same during 2024. The neurodevelopmental services remain a priority due to the levels of referrals within the NHS contract

Objectives: Psychological Therapy Services

Objectives: Neurodevelopmental Services

Objectives: Services for Children and Young people

Public benefit

The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set. All of the work we undertake focuses on the benefits we can offer to the public and, wherever we can, we work with the NHS to offer services free at the point of delivery.

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The Retreat York Trustees’ annual report For the year ended 31 December 2024

Risk Review

Risk Governance: Strategic Risk

The following table reflects the position of high-level strategic risks at the date of the approval of the Financial Statements.

Key risks Mitigation Next steps
Failure to meet quality
standards in the context
of capacity issues and
recruitment problems		 Maintain our APPTS accreditation and
continue to self-assess the quality of our
services.
Recruit where possible and use carefully
curated agency staff when recruitment is
impacting on capacity to deliver		 Continue striving to recruit suitably
qualified staff, especially in the Autism
/ ADHD Service
Monitor and act on the Quality
Improvement Plan, developing this
continually
Failure to dispose
appropriately of The
Retreat’s estate and to
provide a high-quality
environment for its
clinical services		 Plans for the estate were carefully
considered, using advisers to ensure the right
decisions were made and the estate was sold.
The sale completed in April 2025.
The remaining Retreat estate has a strategic
focus on delivery needs and not about
retaining Land assets for their own sake.		 Consolidate retained buildings
Consider further changes to buildings
where necessary – including
ownership v rental models.
Financial sustainability This sale provided net proceeds to the
Retreat in April 2025 in the sum of £2.063m
(this figure is after repayment of the bridging
loan and costs associated with the sale).
£1.5m has been invested in short-medium
term investments to provide additional
income to the Retreat. Further instalments of
£1.5m will be received annually for the next 3
years
Further to this, a decision was made to sell
the Manchester property and trial a flexible
model of service delivery in the area.
Continually analysing our cost base with a
view to reducing costs whilst endeavouring to
increase our presence through additional
contracts		 Ensure we are working efficiently and
offering best value.
Consolidate current services, increase
self-funded Autism / ADHD services
and deliver to plan.
Explore becoming a Right to Choose
provider

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The Retreat York Trustees’ annual report For the year ended 31 December 2024

Risk Management: Operational risks

The Board of Trustees is responsible for reviewing major financial and operational risks to which the charity is exposed, and to ensure that systems have been established to mitigate those risks. These risks include:

Methods of dealing with these risks include:-

Board Assurance Framework

The Trustees are responsible for the Board Assurance Framework, which is reviewed on an annual basis. The following objectives and associated risks for 2024 were considered and reviewed:-

Corporate and
strategic objectives		 Review of objective
Ensure The Retreat’s
three-year strategy is
current, fit for purpose,
in place and has shared
ownership across the
organisation		 A 3 year strategy began in January 2024, and each service has objectives for marketing,
delivery and quality.
All members of the Senior Leadership Team (SLT) are fully aware of the need for
increasing income and reducing costs, and targets are reviewed at least monthly
Staff and Trustees attended an away day in June 2025 to consider future possibilities for
the services
Information
Governance standards
and GDPR compliance		 Each year we submit our Data Protection and Security Toolkit (DSP) – this assures our
compliance and the last four years we have reached compliance.
The Chief Executive successfully submitted the GDPR toolkit submissions for 2024
Continually work
towards improvements
in quality		 Improvements are monitored via monthly stats, audits, CQC, AAPTS and DSP toolkit
compliance. Issues are reported regularly via Committees and the Board
The Retreat is AAPTS registered, and we are working towards full CQC compliance via
their new online reporting site. We have been fully DSP toolkit compliant for four years.
We monitor incidents, complaints, comments and issues and regularly review in SLT,
Committees and Board
Develop an estates
strategy to ensure our
environment is fit for
modern purposes and		 Following the decision to sell Hampden House in Manchester, the charity will only hold
The Tuke Centre for service delivery. The building is in reasonable condition with the
potential to utilise a large walled garden for future service delivery as the organisation
grows

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The Retreat York Trustees’ annual report For the year ended 31 December 2024

Corporate and
strategic objectives		 Review of objective
that it can be used
flexiblyand smartly
Monitor and track our
marketing and
promotional strategy to
ensure it increases
business		 Our marketing team consists of external SEO and digital marketing support, and an in-
house Relationship Manager. Clinical staff assist with supplying material to promote
services and present on behalf of the Retreat at various events. There is a 12 month
marketing plan used to plan, deliver and monitor our presence and successes.
Recent improvements to online presence are starting to show increases in enquiries.
SEO is improving. Face to face presence in both York and Manchester is crucial for
relationship building. Service provision in Manchester will be a flexible model utilising
room hire across various locations in the area
We need to increase online presence and focus, and to be increasingly visible in our
target communities
We are currently reviewing our website to ensure we reach the widest audience possible
Ensure the organisation
achieves a stable
financial position		 The Board are regularly monitoring the financial position
The strategy and the business plan will improve the quality of the services offered but
also enable business development within a clear strategic framework, through
innovation, relationship development and partnerships
Review The Retreat’s
Business Continuity
Plan annually		 Our Business Continuity Plan has recently been reviewed; taking into account direction
and information staff would require in the event of a serious incident occurring.
The revised Business Continuity Plan is now accessible through BreatheHR so that all staff
can access it
Improve staff wellbeing Our Wellbeing Group invites involvement and ideas from all staff to improve staff
wellbeing.
Relationships with
Commissioners and the
way they commission		 We have a 5 year contract for Adult Autism and ADHD Diagnostic Assessment Services in
York (2023-2027), with a potential 2 year extension. We continue to meet with the ICB
on a regular basis. The issues raised by the DoItProfiler will continue to be discussed
with the ICB and the community, and we will work with our commissioners and our
clients to provide the best service possible
We continue to seek extra commissioned services, for the stability of provision and
finances
Use of Professional
advisers and
outsourced support		 The Board have sanctioned the use of outsourced support service as an economic
solution until the strategy changes (increasing the scale of charity). Risk includes
expensive service accompanied by poor or inappropriate advice. We plan to re-tender
most services each 5 years subject to Board approvals to ensure best-value is tested.
The Executive are able to select specialist advisors over £50k when agreed with The
Board of Directors eg Legal claims, enforcement issues etc. Any service outside budget eg
specialist legal advice – require Board approval
Reputation and clients We increasingly ask user groups and partners for feedback, and value the wider input
this offers

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The Retreat York Trustees’ annual report For the year ended 31 December 2024

Financial review

The Statement of Financial Activities for the period is set out on page 25 of the financial statements.

The financial results can be summarised in the following table.

The financial results can be summarised in the following table.
2024 2023
Operating Surplus / (Deficit) £(2,848,213) £(2,723,105)
Disposal of Fixed Assets £13,500 £17,369
Net Gains on Investments £47,278 £114,179
Accounting adjustments in relation to defined benefit pension £(3,659,000) £(1,041,000)
Net Movement of funds per SOFA £(6,446,435) £(3,632,557)

The operating results of The Retreat, which include expenditure on the charity’s two key areas of Outpatient Services and Estates and Property Management, in the year ended 31 December 2024 produced a deficit of £(2,848,213) (2023 – deficit £(2,723,105). The higher costs were associated with keeping the buildings secure until the completion of the land sale, including on-site security and increased insurance premiums

Other income from investments and donations produced income of £60,909 (2023 - £69,141). Investment income was lower as we were drawing down the investments throughout the year to operate the service.

Other trading income was reduced to £149,224 (2023: 484,320) as we vacated the final building in readiness for the land sale to complete

The overall result, before gains / losses on investments and movement on pensions, for the year amounting to £(2,834,713) (2023 - deficit £(2,705,736).

Review of Cash Position

Towards the end of 2024, the Retreat received two loans.

An unsecured loan from Dr David Robson, Clerk to the Trustees of the Retreat of £25,000 which was unsecured and free from interest. This was repaid in full on 14[th] February 2025.

The second was a bridging loan from TAB London Ltd, proceeds were received on 23[rd] December 2024, secured on The Tuke Centre, York and Hampden House, Manchester. The actual cash received after deduction of fees was £597,942. The monthly interest rate on the loan was 1% and this loan was repaid out of the first stage proceeds of the land sale which completed on 8[th] April 2025. Total interest payable was £28,080 (4 months interest on the gross loan of £702,000).

First stage proceeds from the completion of the land sale amounted to £2,191,716 after payment of legal and professional fees and repayment of the TAB loan.

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The Retreat York Trustees’ annual report For the year ended 31 December 2024

Reserves policy and going concern

Reserves Policy

It is the policy of the charity to maintain undesignated funds, which are the free reserves of the charity, at a level sufficient to cover between 6 and 18 months of expenditure, a range between £1,200,000 and £3,600,000. This period of sufficiency aligns with NHS community contracts periods and lease periods for some short-term tenancies.

This is to ensure that in periods of weaker trading, the company can continue to operate without cash-flow problems.

There was a negative value of Free Reserves at the year end £(0.7m) (2023 – £1.22m). Working capital was supported by two loans as noted above, ahead of the completion of the land sale. The Trustees took professional advice throughout the 2024 period and considered all options in relation to going concern.

The pension asset of £141,000 (2023 £4,132,000) is excluded from free reserves on the basis that this asset does not result in any cash flow to the charity and is diminishing significantly.

Investment Policy

The Retreat holds investments in a portfolio approach that includes cash balances, Investment properties, longterm reserves and short-term reserve instrument holdings.

The investments are held to enable the charity to discharge its charitable purposes and serving as a safety-net in the face of challenges and to enable some sustainability and capital investment in the medium term.

Short term reserves are held with a minimal return objective and are used to preserve capital, longer term reserves are held to obtain a return above inflation over the medium term. The Retreat Board recommended a more ethical portfolio to actively support ethical causes and further move away from companies involved in some sectors which did not align to the Quaker values. The portfolio moved to a global equity based ethical scheme in 2020 generating a total income of £20.7k in 2024 (see note 4). The Investments in total realised a net gain of £47k in 2024 versus a net gain of £114k in 2023 (see note 14),

As a Quaker charity, The Retreat has an ethical investment approach, avoiding direct investments in companies that derive more than 5% of their revenue from Arms sales, tobacco manufacture and sale of alcohol, gambling, and facilitation of pornography or prostitution.

Going Concern

2024 has been extremely financially challenging for The Retreat. The financial stability of the organisation has been, for a number of years, dependent upon the successful sale of a large part of the estate to a local developer. The decision to sell off the estate began in 2018 with completion on 8[th] April 2025.

During this period, buildings on the part of estate included in the sale were made vacant in readiness for the development to commence. Due to the long delays, insurance costs rose exponentially; additionally, on-site security was required, at considerable cost, to protect the site. This protection was not entirely successful and as a result a significant amount of lead was removed from one of the buildings, culminating in a reduction in the first stage payment of £45,000. The extraordinary costs to mitigate risks put severe financial pressure on the charity to such a level that a bridging loan was obtained to maintain ongoing clinical services.

Finalisation of the sale has provided financial security of the organisation for the foreseeable future and the organisation is exploring various options to secure additional income to further stabilise the finances for the long-term sustainability of the charity. The Retreat receives the remainder of the sale income in three annual equal payments of £1,500,000.

The Retreat continues to adopt the going concern basis in preparing the financial statements.

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The Retreat York Trustees’ annual report For the year ended 31 December 2024

Fundraising Policy

The Retreat is not a conventional charity, most of our income is generated from our charitable service provision and from the assets of the charity which includes investments and investment properties. We do not actively raise funds from the public and we have no agency arrangements in place in respect of fundraising. We have received no complaints during the year in respect of our fundraising activities.

Plans for the Future

We have spent 2024 reviewing all our costs and have reduced them where possible. Our aim is to diversify our income streams by seeking small manageable contracts with a view to finding a break-even financial position over the coming years. Costs will continue to be reviewed and any contracts will need to help cover our direct costs and contribute to overheads. Detailed work will commence during the second half of 2025.

Structure, governance and management

Constitution

The Retreat York is a charitable company limited by guarantee. It was formed on 20 November 2001 and was granted charitable status on 18 December 2001. Its governance arrangements are set out in its Articles of Association, which were amended at the AGM held on 24 June 2010 and the EGMs held in February 2011, February 2012 and November 2016.

Directors

The management of The Retreat York is vested in the Board of Directors. The Directors are also charity Trustees as defined in the Charities Act 2011. All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 7 to the financial statements.

Management

Whilst strategic decisions are taken by the Directors, the day-to-day management of the charity is the responsibility of the Chief Executive who reports directly to the Board of Directors.

Finance & Resources Committee

During 2024 the board of Trustees met monthly and discussed in detail the current financial position of the charity. Board meetings are to continue monthly during 2025 and therefore this committee has been paused.

Quality, safety and Governance Committee

This committee meet 4 times a year to consider matters related to the governance of the clinical and corporate activities.

Remuneration Committee

The Remuneration Committee is formed as a sub-committee of the Board and is responsible for meeting annually to consider the remuneration of the Executive Director.

Audit Committee

The Audit committee is formed as a sub-committee of the Board and is responsible for reviewing the Audit processes and work of the external auditors in addressing financial assurance issues of the company.

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The Retreat York Trustees’ annual report For the year ended 31 December 2024

Appointment of Trustees

Trustee Directors are appointed for a period of four years and are eligible for re-appointment for a further four years. The maximum number of Directors is eleven and the minimum three. The person appointed as the chair of the Directors is known as the Clerk. The Clerk and Deputy Clerk must be members of The Religious Society of Friends.

The Society of Friends has up to three representatives on The Retreat Nominations Committee that is responsible for recommending the names of individuals for appointment as Directors and for other working groups at The Retreat. Both Friends and non-Friends are appointed as Directors but there must always be more Friend Directors than non-Friend Directors .

Trustee induction and training

All Members and Directors receive induction upon appointment to their respective roles. Directors receive training in relation to their role as Trustees. Directors receive a copy of a range of documents including the Annual Report and Accounts and the charitable deed. Training is provided on a variety of topics relevant to the work conducted at The Retreat York.

Remuneration policy for key management personnel

The Remuneration Committee is formed as a sub-committee of the Board and is responsible for meeting annually to consider the remuneration of the members of senior members of staff.

Employee Information

Policy for employment of disabled persons

In accordance with the charity’s equal opportunities policy, the charity has long established fair employment practices in the recruitment, pay, selection, retention and training of disabled staff.

Employee Consultation

Employees have been consulted on issues of concern to them by means of regular staff committee meetings and staff briefings and have been kept informed on specific matters directly by management. The charity carries out exit interviews for all staff leaving the organisation.

The Living Wage

The Retreat operates a living wage policy and regime. The Retreats adheres to minimum wage legislation and is a living wage employer. The Retreat ensures that contractor staff also adheres to living wage guidance and seek positive assurance from key suppliers each year.

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The Retreat York Trustees’ annual report For the year ended 31 December 2024

Statement of responsibilities of the Trustees

The Trustees (who are also Directors of The Retreat York for the purposes of company law) are responsible for preparing the Trustees’ annual report including the strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 December 2023 was 6 (2022: 7).

The Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the assets of the charity.

The Trustees’ annual report which includes the strategic report has been approved by the Trustees on 11[th] July 2025 and signed on their behalf by:

David Robson

Clerk to the Trustees

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Independent auditor’s report To the members of The Retreat York

Opinion

We have audited the financial statements of The Retreat York (the ‘charitable company’) for the year ended 31 December 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on The Retreat York's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Independent auditor’s report To the members of The Retreat York

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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Independent auditor’s report To the members of The Retreat York

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

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Independent auditor’s report To the members of The Retreat York

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Judith Miller (Senior statutory auditor)

Date 15 July 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

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The Retreat York

Statement of Financial Activities (incorporating the Income and Expenditure Account)

For the year ended 31 December 2024

For theyear ended31 December 2024
Note
Income from:
2
3
4
24
5
14
24
20
Reconciliation of funds:
Total funds brought forward
Charitable activities
Net (expenditure) before other gains/(losses)
Other trading activities - estates and property
Outpatient services
Net gains on investments
Total funds carried forward
Transfers between funds
Actuarial (losses) on defined benefit pension schemes
Net movement in funds
Net (expenditure) for the year
Donations
Charitable activities - outpatient services
Other trading activities
Total expenditure
Investments
Net interest on pension scheme asset
Total income
Raising funds
Expenditure on:		 Unrestricted -
General

£
3,356
1,656,596
149,224
27,553
-		 Unrestricted -
Designated
Pension
Scheme
£
-
-
-
-
175,000		 Unrestricted -
Designated
Other
£
-
-
-
-		 Restricted
£
30,000
-
-
-
-
30,000
-
30,000
30,000
-
-
-
-
-
-
-
-		 2024
Total
£
33,356
1,656,596
149,224
27,553
175,000		 2023 Total
£
7,083
1,825,694
484,320
62,058
245,000
1,836,729 175,000 - 2,041,729 2,624,155
1,572,396
2,719,306		 16,512
499,488		 -
38,740		 1,588,908
3,287,534		 1,626,918
3,702,973
4,291,702 516,000 38,740 4,876,442 5,329,891
(2,454,973)
47,278
-		 (341,000)
-
(3,659,000)		 (38,740)
-
-		 (2,834,713)
47,278
(3,659,000)		 (2,705,736)
114,179
(1,041,000)
(2,407,695)
493,707		 (4,000,000)
9,000		 (38,740)
(502,707)		 (6,446,435)
-		 (3,632,557)
-
(1,913,988)
1,218,521		 (3,991,000)
4,132,000		 (541,447)
8,616,812		 (6,446,435)
13,967,333		 (3,632,557)
17,599,890
(695,467) 141,000 8,075,365 7,520,898 13,967,333

All of the above results are derived from continuing activities.

There were no other recognised gains or losses other than those stated above.

A fully detailed Statement of Financial Activities for the year ending 31 December 2023 is shown at note 25 to these financial statements.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

17

The Retreat York

Balance sheet

The Retreat York
Balance sheet
As at 31 December 2024 Company no. 04325622
Note
Fixed assets:
11
12
13
14
Current assets:
16
Liabilities:
17
24
19,20
20
19
Total unrestricted funds
Unrestricted income funds:
The funds of the charity:
Total net assets
Net assets excluding pension asset
Designated funds
Defined benefit pension scheme asset
Cash at bank and in hand
Tangible assets
Investments
Debtors
Investment properties
Goodwill
General funds
Total charity funds
Creditors: amounts falling due within one year
Net current liabilities		 £
288,691
637,018		 2024
£
-
7,650,693
350,000
226,186		 £
118,275
573,546		 2023
£
13,750
7,718,097
350,000
2,237,136
8,226,879
(846,981)		 10,318,983
(483,650)
925,709
(1,772,690)		 691,821
(1,175,471)
8,216,365
(695,467)		 12,748,812
1,218,521
7,379,898
141,000		 9,835,333
4,132,000
7,520,898 13,967,333
7,520,898 13,967,333
7,520,898 13,967,333

These financial statements were approved by the Trustees on 11th July 2025 and signed on their behalf by:

David Robson Clerk to The Trustees

18

The Retreat York

Statement of cash flows

For the year ended 31 December 2024

Reconciliation of net (expenditure) to net cash flow from operating activities

Reconciliation of net (expenditure) to net cash flow from operating activities operating activities
Net (expenditure) for the reporting period
(as per the statement of financial activities)
Actuarial losses
Depreciation and amortisation charges
Dividends, interest and rent from investments
Change in fair value of investments
Defined benefit pension scheme adjustments
Defined benefit pension scheme contributions paid
(Profit) on the disposal of fixed assets
(Profit) on the disposal of investment properties
(Increase)/decrease in debtors
(Decrease) in creditors
Net cash (used in) operating activities
Cash flows from financing activities
Cash inflows from new borrowing
Analysis of cash and cash equivalents and of net debt
Cash at bank and in hand
Cash awaiting investment
Total cash and cash equivalents
Loans falling due within one year
Net debt
Cash flows from operating activities
Net cash provided by investing activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Proceeds from sale of investment properties
Purchase of investments
Proceeds from sale of fixed assets
Proceeds from sale of investments
Net interest on pension scheme asset
Cash and cash equivalents at the beginning of the
year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Net cash provided by financing activities		 £
£
(6,446,435)
3,659,000
81,154
(27,553)
(47,278)
(175,000)
516,000
(9,000)
(13,500)
-
(170,416)
(41,641)
(2,674,669)
27,553
13,500
-
2,383,618
(291,755)
2,132,916
638,860
638,860
97,107
615,192
712,299
At 1 January
2024
Cash flows
£
£
573,546
63,472
41,646
33,635
615,192
97,107
-
(638,860)
615,192
(541,753)
2024		 £
£
(3,632,557)
1,041,000
566,484
(62,058)
(114,179)
(245,000)
381,000
(33,000)
(15,078)
(2,179)
55,577
(154,533)
(2,214,523)
62,058
20,164
552,179
3,131,199
(1,980,193)
1,785,407
-
-
(429,116)
1,044,308
615,192
Other
changes
At 31
December
2024
£
£
-
637,018
-
75,281
-
712,299
-
(638,860)
-
73,439
2023
27,553
13,500
-
2,383,618
(291,755)		 62,058
20,164
552,179
3,131,199
(1,980,193)
At 1 January
2024
£
573,546
41,646		 Other
changes
£
-
-
638,860 -
638,860 -
97,107
615,192		 (429,116)
1,044,308
712,299 615,192
Cash flows
£
63,472
33,635		 At 31
December
2024
£
637,018
75,281
615,192 97,107 - 712,299
- (638,860) - (638,860)
615,192 (541,753) - 73,439

19

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

1 Accounting policies

a) Statutory information

The Retreat York is a charitable company limited by guarantee and is incorporated in England and Wales.

The registered office address and principal business address is The Tuke Centre, 28 Green Dykes Lane, York, YO10 3HH.

b) Basis of preparation

The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.

The Retreat York meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees acknowledge that there has been some uncertainties, during 2024, regarding the charitable Company's ability to continue as a going concern due to the extraordinary delays in selling part of the estate, factors which have been outside the control of the trustees. The land sale completed on 8th April 2025 which provides sufficient cash reserves for the foreseeable future and with further payments to be released over the coming years. See Trustee Report for detailed analysis of net income received

Therefore the trustees do not consider that there are any sources of estimation uncertainties at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next reporting period

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

20

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

g) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Allocation of support costs

Expenditure is allocated to the particular activity where the cost relates directly to that activity. Building shared services are allocated between charitable activities and estates and property management based on approximate floor area. The cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned according to staff headcount.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

21

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

j) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

k) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,200. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Land and buildings are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Over the period of the lease 16.5% straight line 25% reducing balance 4% straight line 25% straight line

l) Intangible fixed assets

Goodwill relates to the excess consideration over net assets acquired on trade acquisitions. Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 4 years, subject to an annual impairment review.

m) Investment properties

Investment properties are measured initially at cost and subsequently included in the balance sheet at fair value. Investment properties are not depreciated. Any change in fair value is recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. The valuation method used to determine fair value will be stated in the notes to the accounts.

22

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

Unlisted investments are measured initially at cost and subsequently included in the balance sheet at historic cost less impairment for amounts considered irrecoverable. Any change in carrying value is recognised in the statement of financial activities.

Investments in subsidiaries are at cost less impairment.

q) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions are recognised where the charity has a present obligation resulting 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 normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only has financial assets and financial 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

23

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

v) Pensions

The charity operates a defined benefit plan for the benefit of its eligible employees. A liability for the charity’s obligations under the plan is recognised net of plan assets. The net change in the net defined benefit liability is recognised as the cost of the defined benefit plan during the period. Pension plan assets are measured at fair value and the defined benefit obligation is measured on an actuarial basis using the projected unit method. Actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The Scheme closed to new entrants in 2013. The scheme was closed to all members on 31st March 2024

The charity also operates a Defined Contribution Scheme for those members of staff not eligible to join the Defined Benefit Scheme. This Scheme is also used to discharge our auto enrolment obligations.

2 Income from Donations

Income from Donations
Unrestricted
Restricted
Total income from donations		 2024
Total
£
3,356
30,000		 2023
Total
£
7,083
-
33,356 7,083

The £30,000 restricted donation from The Sir James Reckitt Charity was to be used for Children and Young People and was fully utilised during the year

Income from other trading activities
Rental income
Facilities costs recharged to tenants
Income from Tend VR Ltd trial		 2024
Total
£
60,000
78,617
10,607		 2023
Total
£
253,710
230,610
-
149,224 484,320

All income from other trading activities is unrestricted in both periods

Income from investments
Dividends
Bank interest
Interest from listed investments		 2024
Total
£
17,801
6,772
2,980		 2023
Total
£
40,269
12,120
9,669
27,553 62,058

All income from investments for the current and previous financial year was unrestricted.

24

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

the year ended 31 December 2024
Analysis of expenditure
Estates and
Charitable property Governance Support 2024
For the year ended 31 December 2024 activities management costs costs Total
£ £ £ £ £
Staff costs (Note 7) 1,398,459 45,705 - 9,000 1,453,164
Direct costs 651,731 539,712 5,677 52,479 1,249,599
Legal & professional fees - 158,299 124,655 18,481 301,435
Insurance 7,621 442,969 - 30,588 481,178
IT costs 2,361 - - 320,423 322,784
Office costs 92,397 2,564 2,181 33,602 130,744
Property costs 82,493 249,964 - 862 333,319
Auditor's remuneration - - 23,006 - 23,006
Depreciation and (profit)/loss on disposal - 53,904 - - 53,904
Amortisation 13,750 - - - 13,750
Trustee expenses - - 6,559 - 6,559
Pension administration expenses (Note 26) - - - 507,000 507,000
2,248,812 1,493,117 162,078 972,435 4,876,442
Support cost allocation 941,317 31,118 - (972,435) -
Governance costs 97,405 64,673 (162,078) - -
Total expenditure 2024 3,287,534 1,588,908 - - 4,876,442

Estates and property management costs relate to the costs of running the elements of the estate which are not currently utilised by outpatient services, to which appropriate estates costs have been allocated. Some of the residual estate was tenanted by third parties for the first part of the year and generated a small amount of rental income which contributed to both the direct costs of that tenancy. The estate includes certain areas which are intentionally not tenanted and generate no income but still require expenditure for their upkeep and management to ensure the property of the charity is appropriately safeguarded. As a result Estates and Property Management generated a net deficit of £1,435,779 (2023: £691,157 deficit). The support cost allocation is based on the proportion of salaries allocated to the estate management, The increased decifit was mainly due to extremely high insurance costs and site security to protect a large unoccupied site.

For the year ended 31 December 2023
Staff costs (Note 7)
Direct costs
Legal & professional fees
Insurance
IT costs
Office costs
Property costs
Auditor's remuneration
Depreciation and Loss on disposal
Amortisation
Trustee expenses
Pension administration expenses (Note 26)
Support cost allocation
Governance costs
Total expenditure 2023		 Outpatient
services
£
1,640,890
799,989
1,147
4,767
26,961
102,394
81,368
-
-
13,750
-
-
2,671,266
859,282
172,425
3,702,973		 Estates and
property
management
£
142,766
342,442
1,300
4,978
-
739
377,454
-
535,365
-
-
-
1,405,044
131,181
90,693
1,626,918		 Governance
costs
£
-
6,566
180,547
6,100
37,334
5,184
-
21,880
-
-
5,507
-
263,118
-
(263,118)
-		 Support
costs
2023
Total
£
£
33,000
1,816,656
44,348
1,193,345
1,570
184,564
238,373
254,218
308,569
372,864
16,226
124,543
377
459,199
-
21,880
-
535,365
-
13,750
-
5,507
348,000
348,000
990,463
5,329,891
(990,463)
-
-
-
-
5,329,891

Estates and property management costs relate to the costs of running the elements of the estate which are not currently utilised by outpatient services, to which appropriate estates costs have been allocated. Some of the residual estate is tenanted by third parties and generates rental income which contributes to both the direct costs of that tenancy and to the overall upkeep of the rest of estate. This includes certain areas which are intentionally not tenanted and generate no income but still require expenditure for their upkeep and management to ensure the property of the charity is appropriately safeguarded. As a result Estates and Property Management generated a net deficit of £691,157 (2022: £913,147 deficit) after the allocation of support costs of £131,181 (2022: £147,597) which is based on headcount.

25

8 Staff numbers

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

This is stated after charging:

This is stated after charging:
2024 2023
£ £
Depreciation and Amortisation 56,547 566,484
(Profit) / Loss on disposal of fixed assets (13,500) (15,078)
Operating lease rentals:
Property 75,000 75,000
Auditor's remuneration (excluding VAT):
Audit 17,750 17,750

Staff costs were as follows:

Staff costs were as follows:
Redundancy and termination costs
Salaries and wages
Pension contribution to defined contribution schemes
Operating costs of defined benefit pension schemes (Note 26)
Social security costs		 2024
£
1,219,849
49,136
124,468
50,711		 2023
£
1,559,796
-
153,204
70,656
1,444,164
9,000		 1,783,656
33,000
1,453,164 1,816,656

The following number of employees received employee benefits in excess of £60,000 (excluding employer pension costs and employer's national insurance) during the year between:

2024 2023
No. No.
£60,000 - £69,999 1 1
£80,000 - £89,999 2 1

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £202,972 (2023: £206,526).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £6,559 (2023: £5,507) incurred by 6 (2023: 5) members relating to attendance at meetings of the trustees.

Total staff numbers are as follows (average head count based on number of staff employed):

2024 2023
No. No.
36 49

26

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

9 Related party transactions

In June 2020, the Retreat made an investment of £50,000 in to convertible preference shares of Tend VR Limited (company number 11552335). Tend VR Limited is developing technological solutions to mindfulness and low level mental interventions and the Retreat is supporting the trial and development phases of the project. The Investment can be converted to Ordinary and voting shares of Tend VR Limited in the future and under specific circumstances relating to the future ownership of the company. Tend VR Limited has three Directors, one of whom is Mr Matthew Hoad-Robson. Mr Hoad-Robson is the son of Dr David Robson, the Clerk to the Trustees of the Retreat. Dr Robson took no part in the in discussion or decision-making processes related to the investment in Tend VR Ltd. An impairment of £49,999 was recognised during 2021 to write down the carrying value of the investment to £1.

At the Board Meeting held on 6th May, it was noted that Tend VR Limited had reached a financial milestone and had forwarded the options available to the Retreat to either receive back the original £50,000 invested or to convert the preference shares to ordinary shares providing a 5% equity stake in the company. The Trustees agreed to convert the shares. Dr David Robson, the Clerk to the Trustees of the Retreat took no part in the discussion or decision-making process

A decision was subsequently taken to reverse the impairment of £49,999 in the 2024 financial year

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties in either period. Dr David Robson (Clerk to the Trustees of The Retreat) made an unsecured loan of £25,000 to the charity on 5th December 2024, with no interest payable. This loan was repaid in full on 14th February 2025

10 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

Goodwill
Net book value
At the end of the year
Cost
At the start of the year
At the start of the year
Additions in year
Disposals in year
At the end of the year
Amortisation
At the start of the year
Charge for the year
Eliminated on disposal
At the end of the year		 Goodwill
£
55,000
-
-
55,000
41,250
13,750
-
55,000
-
13,750

Goodwill represents the surplus of cost over the fair value of assets acquired on the purchase of Hampden House.

27

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

12 Tangible fixed assets

e year ended 31 December 2024
Tangible fixed assets
Depreciation
Net book value
At the start of the year
At the start of the year
Disposals in year
Charge for the year
Additions in year
At the end of the year
At the start of the year
At the end of the year
Eliminated on disposal
At the end of the year
Cost		 Freehold
property
£
12,793,977
-		 Leasehold
property
£
797,166
(797,166)		 Equipment
£
967,443		 Total
£
14,558,586
-
(797,166)
12,793,977 - 967,443 13,761,420
5,142,043
24,607
-		 797,166
-
(797,166)		 901,280
42,797		 6,840,489
67,404
(797,166)
5,166,650 - 944,077 6,110,727
7,627,327 - 23,366 7,650,693
7,651,934 - 66,163 7,718,097

The estate with the exception of The Tuke Centre was sold to a property developer on 8th April 2025. The sale price was £7,500,000. The Tuke Centre was valued by Aithison Rafferty in on 31 October 2024 at £700,000 giving the trustees assurance of the valuations currently shown.

All of the above assets are used for charitable purposes.

Investment Properties
Disposals
Revaluation during the year
Fair value at the end of the year
Fair value at the start of the year		 2024
£
350,000
-
-		 2023
£
900,000
(550,000)
-
350,000 350,000

28

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

Investments
Unlisted investment
Listed investments and cash comprise:
Unlisted investment comprises:
Impairment reversal
Equity investment in group undertaking
Fair value at the start of the year
Investments comprise:
Listed investments
Cash held by investment broker pending reinvestment
Cost at the end of the year
Cash
Fair value at the end of the year
Revaluation during the year
Cost at the start of the year
Additions at cost
Disposal proceeds
Additions at cost		 2024
£
100,904
75,281
1
50,000		 2023
£
2,195,488
41,646
1
1
226,186 2,237,136
2024
£
2,195,488
291,755
(2,383,618)
(2,721)		 2023
£
3,232,315
1,980,193
(3,131,199)
114,179
100,904
75,281		 2,195,488
41,646
176,185 2,237,134
2024
£
1
-
49,999		 2023
£
1
-
-
50,000 1

15 Subsidiary undertaking

The charitable company owns the whole of the issued ordinary share capital of Cottage Villa Limited, a company registered in England (company number 09650020). The company was set up to collect rents from The Retreat York's Learning Disability Service. The Learning Disability Service was transferred to Mencap on 1 January 2019 and rents continued to be collected. The company is now dormant. The process to strike the company off commenced in April 2025

16 Debtors

Debtors
Trade debtors
Prepayments		 2024
£
237,838
50,853		 2023
£
16,073
102,202
288,691 118,275

29

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

Creditors: amounts falling due within one year
Loans
Other creditors
Deferred income
Accruals
Trade creditors		 2024
£
356,828
29,651
638,860
277,386
469,965		 2023
£
137,386
37,515
-
231,750
768,820
1,772,690 1,175,471

Loans include an unsecured loan of £25,000 to the charity on 5th December 2024 by Dr David Robson (Clerk to the Trustees), with no interest payable. This loan was repaid in full on 14th February 2025. The remainder comprises of a 1 year bridging loan (secured on The Tuke Centre and Hampden House) from TAB London Ltd, with an interest rate of 12%, fully repaid in April 2025 with the interest payable pro-rata (total interest paid £28,080)

18 Deferred income

Deferred income
Deferred income at 1 January
Amounts released from previous years
Income deferred during the year
Deferred income at 31 December		 2024
£
768,820
(768,820)
469,965		 2023
£
972,864
(972,864)
768,820
469,965 768,820

19 Analysis of net assets between funds

Analysis of net assets between funds
Net current assets / (liabilities)
Investments
Investments
Defined benefit pension asset
Goodwill
Net assets at 31 December 2023
Investment properties
Defined benefit pension asset
Tangible fixed assets
Investment properties
Net assets at 31 December 2024
As at 31 December 2024
Tangible fixed assets
Net current assets/ (liabilities)
As at 31 December 2023		 General
unrestricted
£
-
-
226,186
(921,653)
-		 Designated
£
7,650,693
350,000
-
74,672
141,000		 Total funds
£
7,650,693
350,000
226,186
(846,981)
141,000
(695,467) 8,216,365 7,520,898
General
unrestricted
£
-
-
-
2,237,136
(1,018,615)
-		 Designated
£
7,718,097
13,750
350,000
-
534,965
4,132,000		 Total funds
£
7,718,097
13,750
350,000
2,237,136
(483,650)
4,132,000
1,218,521 12,748,812 13,967,333

The balance of general unrestricted funds also represents the charity's free reserves.

30

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

For the year ended 31 December 2024
20
Sir James Reckitt Foundation
Designated funds
Investment properties
Hardship fund
Total designated funds
General funds
Designated funds
Investment properties
Hardship fund
Total designated funds
General funds
Total funds
For the year to 31 December 2023
Tangible fixed assets
Pension reserve
Tangible fixed assets
Movement in funds
For the year to 31 December 2024
Total unrestricted funds
Charitable service reserve
Pension reserve
Total funds
Charitable service reserve
Restricted Funds
Total unrestricted funds		 At 1 January
2024
£
-		 Income & gains
£
30,000		 Expenditure &
losses
£
(30,000)		 Transfers
£		 At 31 December
2024
£
-
8,153,400
350,000
42,003
71,409
4,132,000		 -
-
-
-
175,000		 -
-
(38,740)
(4,175,000)		 (502,707)
-
-
9,000		 7,650,693
350,000
42,003
32,669
141,000
12,748,812
1,218,521		 175,000
1,884,007		 (4,213,740)
(4,291,702)		 (493,707)
493,707		 8,216,365
(695,467)
13,967,333 2,059,007 (8,505,442) - 7,520,898
13,967,333 2,089,007 (8,535,442) - 7,520,898
At 1 January
2023
£
8,303,417
900,000
46,045
83,776
5,276,000		 Income & gains
£
-
-
-
-		 Expenditure &
losses
£
-
-
(4,042)
(12,367)
(1,177,000)		 Transfers
£
(150,017)
(550,000)
-
33,000		 At 31 December
2023
£
8,153,400
350,000
42,003
71,409
4,132,000
14,609,238
2,990,652		 -
2,493,334		 (1,193,409)
(4,932,482)		 (667,017)
667,017		 12,748,812
1,218,521
17,599,890 2,493,334 (6,125,891) - 13,967,333
17,599,890 2,493,334 (6,125,891) - 13,967,333

Purposes of restricted funds:

Sir James Reckitt Foundation - donated £30,000 for work with children and young persons and was fully utilised within the year

Purposes of designated funds:

Pension scheme - as detailed in note 24 the charity is party to a defined benefit pension scheme which was in surplus at 31 December 2024. This amount has been designated as it does not form funds freely available to the charity for charitable purpose.

Hardship fund - The Board of the Retreat requested the establishment of a designated fund specifically for those in need who were not applicable for NHS based funding and were unable, or unlikely to be able, to pay the self-funded fees for The Retreat services usually charged.This fund was developed to consider individual Client requests.

Charitable Service Reserve - The trustees decided to set aside an amount of £50,000 to undertake non-chargeable service to special cases agreed by the Board. It was initially set up to provide mental health services to first line staff during COVID-19 such as care home workers and nursing staff in NHS hospitals in York. This was repurposed following the end of the pandemic to provide support to refugees . The fund remained unused in 2024 and will be re-purposed during 2025

31

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

21 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods


periods
One to five years
Less than one year		 2024
2023
£
£
-
75,000
-
75,000
Property
- 75,000

The charity's total future rent receivable from investment properties is as follows for each of the following periods

Less than one year 2024
£
-		 2023
£
60,000
- 60,000

23 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

32

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

24 Defined benefit pension scheme

The company operates a defined benefit scheme in the UK called The Retreat York Pension Scheme, with both Final Salary and Career Average Revalued Earnings benefits. For service prior to 1 August 2006, benefits are linked to members' final pensionable salaries at their retirement or earlier leaving. For service after 31 July 2006, benefits are built up each year, linked to members' salaries in that year and then increased each year in line with inflation. The Scheme was closed to new entrants on 31 December 2013 but accrual of benefits continues for current members of the Scheme. The most recent valuation as at 31 December 2024 was performed on 5 March 2025 by First Actuarial LLP.

The contributions made during the year ended 31 December 2024 were only for January-March 2024 and the scheme was closed to all members on 31st March 2024. The employer contributions paid over to the Scheme trustees in the year amounting to £9,000 (2022: £33,000), together with the actuarial gains and losses on the Scheme for the year, are recognised in the statement of financial activities in accordance with FRS102. Insurance premiums for death in service benefits were payable in addition.

The employee benefit obligations recognised in the balance sheet are as follows:


addition.
The employee benefit obligations recognised in the balance sheet are as follows:
Changes in the present value of the defined benefit obligation are as follows:
Present value of funded obligations
Fair value of plan assets
Amounts in the balance sheet:
Liabilities
Assets
Net asset
Amounts recognised in the statement of financial activities are as follows:
Current service cost
Net interest credit
Total cost
Opening defined benefit obligation
Service cost
Interest cost
Actuarial (gains)/losses - change of basis
Members contributions
Benefits paid
Closing defined benefit obligation
Actuarial losses - experience		 2024
£
(25,650,000)
25,791,000		 2023
£
(29,181,000)
33,313,000
141,000 4,132,000
(25,650,000)
25,791,000		 (29,181,000)
33,313,000
141,000 4,132,000
2024
£
516,000
(175,000)		 2023
£
381,000
(245,000)
341,000 136,000
2024
£
29,181,000
(12,000)
1,256,000
(2,735,000)
186,000
-
(2,226,000)		 2023
£
29,223,000
10,000
1,356,000
53,000
515,000
6,000
(1,982,000)
25,650,000 29,181,000

33

The Retreat York

Notes to the financial statements

For the year ended 31 December 2024

24 Defined benefit pension scheme (continued)

Changes in the fair value of plan assets are as follows:

Changes in the fair value of plan assets are as follows:
Administration expenses
Net actuarial ( loss)/gain on defined benefit pension scheme
Actuarial (loss) /gain on plan obligations
Actuarial (loss) /gain on plan assets
Actuarial gains/(losses)
Opening fair value of plan assets
Interest Income
Contributions by employer
Members contributions
Benefits paid
Closing fair value of plan assets		 2024
£
33,313,000
1,431,000
(528,000)
(6,208,000)
9,000
-
(2,226,000)		 2023
£
34,499,000
1,601,000
(371,000)
(473,000)
33,000
6,000
(1,982,000)
25,791,000 33,313,000
2024
£
2,549,000
(6,208,000)		 2023
£
(568,000)
(473,000)
(3,659,000) (1,041,000)

Members contributions were only for the first 3 months of 2024 totalling £963.21 and are rounded down in the audit statements

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2024 2023
% %
Retail Price Inflation assumption before retirement 3.1% 3.0%
Retail Price Inflation assumption after retirement 3.1% 3.0%
Consumer Price Inflation assumption before retirement 2.6% 2.4%
Consumer Price Inflation assumption after retirement 2.7% 2.6%
Discount rate at the end of the year 5.5% 4.5%
Future salary increases 0.0% 2.4%
Future pension increases where linked to inflation:
• Limited price index 5% 2.7% 2.6%
• Limited price index 3% 2.3% 2.3%
• Limited price index 2.5% 2.1% 2.0%

Amounts for the current and previous four periods are as follows:

Experience gain/(loss) on benefit obligation
Defined benefit obligation
Plan assets
Surplus		 2024
2023
2022
£
£
£
(25,650,000)
(29,181,000)
(29,223,000)
25,791,000
33,313,000
34,499,000		 2021
2020
£
£
(43,454,000)
(45,289,000)
52,926,000
50,003,000
141,000
4,132,000
5,276,000
(6,208,000)
(473,000)
(17,334,000)		 9,472,000
4,714,000
3,857,000
4,181,000

34

The Retreat York

Notes to the financial statements

For the year ended 31 December 2023

25 Comparative Statement of Financial Activities for the year ended 31 December 2023

Income from:
Outpatient services
Current service cost on pension scheme asset
Exceptional transition costs
Total expenditure
Reconciliation of funds:
Charitable activities -
Other trading activity - estates and property
Total charitable activities
Total funds brought forward
Total funds carried forward
Net (losses) on investments
Net (expenditure) for the year
Transfers between funds
Actuarial (losses) on defined benefit pension schemes
Net movement in funds
Net (expenditure) before other gains/(losses)
Donations and legacies
Net interest on pension scheme asset
Total income
Expenditure on:
Raising funds -
Charitable activities - outpatient services
Other trading activities
Investments		 Unrestricted -
General
£
7,083
1,825,694
484,320
62,058
-
2,379,155
1,626,918
3,305,564
-
3,305,564
-
4,932,482
114,179
-
(2,439,148)
667,017
(1,772,131)
2,990,652
1,218,521
(2,553,327)		 Unrestricted -
Designated
Pension Scheme
£
-
-
-
-
245,000
245,000
-
-
381,000
381,000
-
381,000
-
(1,041,000)
(136,000)
33,000
(1,144,000)
5,276,000
4,132,000
(136,000)		 Unrestricted -
Designated Other
£
-
-
-
-
-
-
-
16,409
-
16,409
-
16,409
-
-
(16,409)
(700,017)
(716,426)
9,333,238
8,616,812
(16,409)		 2023
Total
£
7,083
1,825,694
484,320
62,058
245,000
2,624,155
1,626,918
3,321,973
381,000
3,702,973
-
5,329,891
114,179
(1,041,000)
(2,705,736)
(3,632,557)
-
(3,632,557)
17,599,890
13,967,333

35