St Seraphim's Trust
Charity No. 1120335
Company No. 06287991
Trustees’ Report and Unaudited Accounts
30 June 2025
St Seraphim's Trust Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2to5 | |
| Independent Examiner's Report | 6 | |
| Statement of Financial Activities | 7 | |
| Summary Income and Expenditure Account | 8 | |
| Balance Sheet | 9 | |
| Notes to the Accounts | 10 to | 18 |
| DetailedStatementofFinancialActivities | 19to | 20 |
Page 1
St Seraphim's Trust Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 June 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 06287991
Charity No. 1120335
Principal Office
Saint Seraphims
Station Road
Little Walsingham
Norfolk
NR22 6EB
Registered Office
Station Road
Little Walsingham
Norfolk
NR22 6EB
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
-
P. Grealy
-
B. Jeffrey (Resigned 20 January 2025)
-
J. Marozzi
-
J. Meyrick
-
J. North
(Resigned 27 October 2025)
- J. Wood
Key Management Personnel
Chair Treasurer
BpJ Meyrick J wood
Accountants
Andrew Parker Associates Ltd
Unit 7
Beech Avenue Business Park Beech Avenue, Taverham Norwich . NR8 6HW
Page 2
St Seraphim's Trust Trustees Annual Report
OBJECTIVES AND ACTIVITIES
Objects and aims
To advance the holy tradition of the Orthodox Christian faith for the benefit of the public in accordance with its statements of belief.
To advance the Orthodox Christian faith in Norfolk and the United Kingdom for the benefit of the public through the halding of prayer meetings, lectures, public celebrations of religious festivals producing and/or distributing literature to enlighten others about the Orthodox Christian faith.Providing services of worship, religious teaching facilities or services to allow believers to practice their faith or follow its doctrines.
To maintain St Seraphim’s Chapel. Maintain the traditional Orthodox Christianity and to honour Archimandrite David its founder.
To promote traditional Orthodox iconography. Distribute materials relating to the life and teaching of St Seraphim of Sarov.
To develop collections that reflect the heritage of St Seraphim’s (held for the benefit of the public and the long term) in a museum environment. To document, preserve, display, interpret and maximise access to the building, collection and garden, thereby promoting the public’s understanding and enjoyment and spiritual growth.
Strategies
The Trustees are very grateful to Jules North who undertook the management of St Seraphim's on a temporary basis until December 2024. This has been a very important period for continuity since the death of our longstanding manager and trustee Sylvia Batchelor.
Work continued on the National Lottery Heritage Fund application to refurbish and create visitor facilities, shop and workspace in the lower ground floor. Our fundraiser consultant completed a project enquiry with costs for the NLHF. Our surveyor prepared drawings for the lower ground floor development with costings. Following the submission of a Project Enquiry, the Trust intended to make a full application.
Page 3
St Seraphim's Trust Trustees Annual Report
Activities
From December 2024 Mariamni Plested took up the post of iconographer in residence and site manager ona voluntary basis. The Quiet Garden volunteers continue to do their important work to maintain and nurture the garden. The community Payback Team have returned and work under Mariamni Plested's guidance to carry out invaluable basic maintenance and decorating.
The Icon gallery has been imaginatively re-organised to allow space for holding talks and classes when necessary. We are working towards renewing Museurn Accreditation and hope this will be approved next year.
Mariamni and her husband Marcus (currently Professor of Greek Patristic and Byzantine Theology at Marquette University in the YSA but soon to take up a post in the UK) hosted a number of talks and a conference on the British Saints help in May 2025 in honour of Fr David's legacy, his icons of the British saints and ways in which Christians’ today can connect with the British Saints. Mariamni also taught a four-day icon-painting course. All these events have been well attended, and we have received encouraging feedback on the conference and iconography classes. There are provisional plans for similar events in 2026. Mariamni's studio is open for visitors to learn more about icons and the process involved in creating them. The trustees have been impressed with all this hard work aimed at promoting St Seraphim's heritage and ensuring it is financially sustainable in the longer term.
In view of this success the trustees are considering an alternative plan for development in a Plan B should the need arise. It would involve alternative methods of raising funds to the National Lottery bid, including crowdfunding to attract supporters in the US as well as the UK. St Seraphim's is certainly developing a winder reach under our new manager and is entering an exciting period of development.
FINANCIAL REVIEW
Policy on reserves
Free reserves at 30 June 2025 amounted to £43,742 (2024: £40,914). The Trustees consider the organisation needs reserves of £10,000 to be able to continue in operation for 6 months should income generation prove difficult. The organisation also has a loan from Tridos Bank. The outstanding balance is £915.62. The trustees consider this amount should be retained in order to make the loan repayments as they fall due. The balance of the reserves is being accumulated for the renovation of the downstairs.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Nature of governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Amendments were made to the governing document on 23rd November 2010 and 27th September 2011.
Risk management
The trustees have a duty to identify and review the risks to which the company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees continue to examine and take account of potential risks at each meeting.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Pape 4
St Seraphim's Trust Trustees Annual Report
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board J. Meyrick Trustee 10 December 2025
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LV :
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Page 5
St Seraphim's Trust Independent Examiners Report
Independent Examiner's Report to the trustees of St Seraphim's Trust
| report to the charity trustees on my examination of the financial statements of St Seraphim's Trust for the year ended 30 June 2025.
Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
| have completed my examination. | can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
-
e accounting records were not kept in accordance with section 386 of the 2006 Act; or
-
e the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
e the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
| 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][financial] statements to be reached.
Andrew Parker FCCA
Andrew Parker Associates Ltd Unit 7 Beech Avenue Business Park
Beech Avenue, Taverham
Norwich NR8 6HW 10 December 2025
Pace 6
St Seraphim's Trust
Statement of Financial Activities
for the year ended 30 June 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|
|funds|funds|Totalfunds|Total|funds|
|2025|2025|2025|2024|
|Notes|£|£|£|£|
|Income|and|endowments|
|from:|
|Donations|and|legacies|4|12,724|-|12,724|18,968|
|Charitable|activities|5|-|-|-|34|
|Other trading|activities|6|12,576|-|12,576|2,886|
|Investments|7|1,102|-|1,102|1,039|
|Total|26,402|-|26,402|22,927|
|Expenditure|on:|
|Raising|funds|8|10,502|-|10,502|739|
|Other|9|15,391|4,632|20,023|28,745|
|Total|25,893|4,632|30,525|29,484|
|Net|gains|on|investments|-|-|-|-|
|Net expenditure|10|509|(4,632)|(4,123)|(6,557)|
|Transfers|between|funds|(1,313)|1,313|-|-|
|NetEXPexpenditure|before|other|(804)|(3,319)|(4,123)|(6,557)|
|gains/(losses)|
|Other gains|and|losses|
|Net|movement|in funds|(804)|(3,319)|(4,123)|(6,557)|
|Reconciliation|of funds:|
|Total|funds brought forward|155,581|3,319|158,900|165,457|
|Total|funds carried|forward|154,777|-|154,777|158,900|
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Page 7
St Seraphim's Trust
Summary Income and Expenditure Account
for the year ended 30 June 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Income|25,300|21,888|
|Interest and|investment|income|1,102|1,039|
|Gross|income|for the year|26,402|22,927|
|Expenditure|26,253|20,105|
|Depreciation|and|charges|for|
|impairment|of fixed|assets|4,272|9,379|
|Total|expenditure|for the year|30,525|29,484|
|Net|expenditure|before|tax|for the|year|(4,123)|(6,557)|
|Net|expenditure|for the year|(4,123)|(6,557)|
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Page 8
St Seraphim's Trust Balance Sheet
at 30 June 2025
| CompanyNo. 06287991 |
Notes | 2025 | 2024 |
|---|---|---|---|
| E£ | £ | ||
| Fixed assets | |||
| Tangible assets | 12 | 105,956 | 110,228 |
| 105,956 | 110,228 | ||
| Current assets | |||
| Stocks | 13 | 1,312 | 2,003 |
| Debtors | 14 | 1,490 | 2,667 |
| Cash at bank and in hand | 48,111 | 47,138 | |
| 50,913 | 51,808 | ||
| Creditors: Amountfallingdue within oneyear | 15 | (1,176) | (1,788) |
| Net currentassets | 49,737 | 50,020 | |
| Total assets less current liabilities | 155,693 | 160,248 | |
| Creditors:Amounts falling due aftermore than one year | 16 | (916) | (1,348) |
| Netassets excluding pension assetor liability | 154,777 | 158,900 | |
| Total net assets | 154,777 | 158,900 | |
| Thefunds ofthe charity | |||
| Restricted funds | 17 | ||
| Restricted income funds | - | 3,319 | |
| - | 3,319 | ||
| Unrestricted funds | 17 | ||
| General funds | 149,698 | 151,011 | |
| Designated funds | 5,079 | 4,570 | |
| 154,777 | 155,581 | ||
| Reserves | 17 | ||
| Totalfunds | 154,777 | 158,900 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 30 June 2025 the company was entitled to exemption under section 477 of the
Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 10 December 2025
And signed on its behalf by:
J. Meyrick
Trustee
10 December 2025
Pace 0
St Seraphim's Trust Statement of Cash flows
.
for the year ended 30 June 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Cash flowsfrom operating activities | ||
| Netexpenditure perStatementof Financial Activities | (4,123) | (6,557) |
| Adjustments for: | ||
| Depreciation of property, plant and equipment | 4,272 | 9,379 |
| Dividends, interest and rentsfrom investments | (1,102) | (1,039) |
| Decrease/(Increase) in stocks | 691 | (824) |
| Decrease in trade and other receivables | 1,177 | 304 |
| (Decrease)/Increase in trade and other payables | (612) | 738 |
| Net cash provided by operating activities | 303 | 2,001 |
| Cash flowsfrom investing activities | ||
| Dividends, interest and rents from investments | 1,102 | 1,039 |
| Net cashfrom/(used in) investing activities | 1,102 | (895) |
| Cashflowsfrom financing activities | ||
| Repayment of borrowings | (432) | (399) |
| Net cash used in financing activities | (432) | (399) |
| Net increase in cash and cash equivalents | 973 | 707 |
| Cash and cash equivalents atthe beginning oftheyear | 47,138 | 46,431 |
| Cash and cash equivalents attheend ofthe year | 48,111 | 47,138 |
| Components ofcash and cash equivalents | ||
| Cash and bank balances | 48,111 | 47,138 |
| 48,111 | 47,138 |
Pace 10
St Seraphim's Trust Notes to the Accounts
for the year ended 30 June 2025
1 Accounting policies
Basis of preparation
The financial statements have been prepared 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
| Fund accounting | |
|---|---|
| Unrestricted funds | These are available for use atthe discretion ofthe trustees in furtherance ofthe |
| general objects ofthe charity. | |
| Designatedfunds Theseare unrestricted fundsearmarked bythetrusteesforparticular purposes. Revaluationfunds —_Theseare unrestricted fundswhich includea revaluation reserve representing the |
|
| restatement of investment assets at their market values. | |
| Restricted funds | Theseare available forusesubjectto restrictions imposed bythedonororthrough |
| terms ofan appeal. | |
| Income | |
| Recognition of income |
Income is included in theStatement ofFinancial Activities (SoFA)whenthe charity becomes entitled to,and virtuallycertainto receive, the incomeandtheamountof |
| theincomecan be measured with sufficient reliability. | |
| Incomewith related expenditure |
Where income has related expenditurethe income and related expenditure is reported gross in the SoFA. |
| Donationsand | Voluntaryincome received bywayofgrants, donationsand gifts is included inthe |
| legacies | theSoFAwhen receivable and onlywhen the Charity has unconditional |
| entitlement to the income. | |
| Taxreclaimson | Incomefrom tax reclaims is included in theSoFAatthesametimeasthe |
| donations and gifts _gift/donation towhich it relates. | |
| Donatedservices and facilities |
Theseareonlyincluded in income (with an equivalentamount inexpenditure) wherethe benefittothe Charity is reasonablyquantifiable, measurable and |
| material. | |
| Volunteer help | Thevalue ofanyvolunteer help received is not included inthe accounts. |
| Investment income | This is included in the accountswhen receivable. |
| Gains/(losses) on | This includesanygain or loss resultingfrom revaluing investments to marketvalue |
| revaluation offixed | atthe end ofthe year. |
| assets | |
| Gains/(losses) on | This includesanygain or loss onthe sale ofinvestments. |
| investmentassets |
Page 11
St Seraphim's Trust Notes to the Accounts
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Expenditure|
|Recognition|of|Expenditure|is|recognised|on|an accruals|basis.|Expenditure|includes any VAT which|
|expenditure|cannot be fully recovered, and|is reported|as|part of the expenditure|to which|it|
|relates.|
|Expenditure on|These comprise the costs associated|with|attracting voluntary income, fundraising|
|raising funds|trading|costs and|investment|management costs.|
|Expenditure on|These comprise the costs|incurred|by the|Charity|in the delivery|of its activities and|
|charitable|activities|services|in the furtherance|of|its|objects,|including the|making of grants and|
|governance|costs.|
|Grants|payable|All grant expenditure|is accounted|for on|an|actual|paid|basis plus an|accrual for|
|grants that have|been|approved|by the trustees|at the end|of the year|but|not yet|
|paid.|
|Governance|costs|_These|include those costs associated with|meeting the constitutional|and statutory|
|requirements|of the|Charity,|including|any audit/independent|examination|fees,|
|costs|linked|to the|strategic|management|of the|Charity,|together with|a|share|of|
|other|administration|costs.|
|Other expenditure|These|are|support costs|not allocated|to|a|particular|activity.|
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Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Freehold property 4% Straight line Leasehold property 25% Straight line Equipment 25% Straight line
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise, Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other 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.
Page 12
St Seraphim's Trust Notes to the Accounts
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other 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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Page 13
St Seraphim's Trust
Notes to the Accounts
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
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|||||||
|---|---|---|---|---|---|
|Unrestricted|Restricted|
|funds|funds|Total|funds|
|2024|2024|2024|
|£|£|£|
|Income|and|endowments|from:|
|Donations|and|legacies|15,368|3,600|18,968|
|Charitable|activities|34|-|34|
|Other|trading|activities|2,886|-|2,886|
|Investments|1,039|=|1,039|
|Total|19,327|3,600|22,927|
|Expenditure|on:|
|Raising|funds|739|-|739|
|Other|18,541|10,204|28,745|
|Total|19,280|10,204|29,484|
|Net income|A7|(6,604)|(6,557)|
|Net|income|before|other|
|7|47|(6,604)|(6,557)|
|gains/(losses)|
|Other gains|and|losses:|
|Net movement|in funds|47|(6,604)|(6,557)|
|Reconciliation|of funds:|
|Total|funds|brought forward|155,534|9,923|165,457|
|Total funds|carried|forward|155,581|3,319|158,900|
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Page 14
St Seraphim's Trust
Notes to the Accounts
4 Income from donations and legacies
| 4 | Income from donations andand legacies | |||
|---|---|---|---|---|
| Unrestricted | Total | Total | ||
| 2025 | 2024 | |||
| £ | £ | £ | ||
| Donationsfrom individuals | 8,473 | 8,473 | 15,340 | |
| Donations on which GiftAid | ||||
| is reclaimable | ile | ae | a | |
| Grants received | - | - | 3,600 | |
| 12,724 | 12,724 | 18,968 | ||
| Donated goods, facilities and services received | ||||
| Total | Total | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Donations received from individuals | - | 18,500 | ||
| GiftAid reclaimed | - | 28 | ||
| Grants | - | 3,600 | ||
| - | 22,128 | |||
| 5 | Income from charitable activities | |||
| Total | Total | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Staffcosts | - | 34 | ||
| cere | ees | |||
| 6 | Income from othertrading activities | |||
| Unrestricted | Total | Total | ||
| 2025 | 2024 | |||
| £ | £ | £ | ||
| Sale ofgoods and services | 296 | 296 | 2,886 | |
| Sales | 3,968 | 3,968 | - | |
| Sales: Events | 8,312 | 8,312 | - | |
| 12,576 | 12,576 | 2,886 | ||
| 7 | Income from investments | |||
| Unrestricted | Total | Total | ||
| 2025 | 2024 | |||
| £ | £ | £ | ||
| Bank interest | 1,102 | 1,102 | 1,039 | |
| 1,102 | 1,102 | 1,039 |
Page 15
St Seraphim's Trust
Notes to the Accounts
8 Expenditure on raising funds
| 8 | Expenditure on raising fundsfunds | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Total | ||||||
| 2025 | 2024 | |||||||
| £ | £ | £ | ||||||
| Costs ofgenerating voluntary | ||||||||
| income | ||||||||
| Costofcharitable activities | 7,926 | 7,926 | 668 | |||||
| Fundraising trading costs | ||||||||
| Sale ofgoodsand services | 2,576 | 2,576 | 71 | |||||
| 10,502 | 10,502 | 739 | ||||||
| 9 | Otherexpenditure | |||||||
| Unrestricted | Restricted | Total | . | Total | ||||
| 2025 | 2024 | |||||||
| £ | £ | £ | £ | |||||
| Employee costs | - | 1,600 | 1,600 | ~ | 3,600 | |||
| Premises costs | 4,010 | - | 4,010 | 6,664 | ||||
| Amortisation, depreciation, | ||||||||
| impairment, profit/loss on | 3,897 | 375 | 4,272 | _ | 9,379 | |||
| disposal offixed assets | ||||||||
| Generaladministrative costs | 3,118 | - | 3,118 | 3,410 | ||||
| Legal and professional costs | 4,366 | 2,657 | 7,023 | 5,692 | ||||
| 15,391 | 4,632 © |
20,023 | 28,745 | |||||
| 10 | Net expenditure before transfers | |||||||
| 2025 | 2024 | |||||||
| This isstated aftercharging: | £ | £ | ||||||
| Depreciation ofowned fixed assets | 4,272 | 9,379 | ||||||
| 11 | Staff costs | |||||||
| 2025 | 2024 | |||||||
| Salaries andwages | 1,600 | 3,600 | ||||||
| 1,600 | 3,600 | |||||||
| Noemployee received emoluments in excess of£60,000. | ||||||||
| Theaveragemonthlynumberoffulltimeequivalentemployeesduring the | during theyearwasasfollows: | |||||||
| 2025 | 2024 | |||||||
| Number | Number | |||||||
| Administration | - | - | ||||||
| No employees participated in the Defined Contribution Pension | scheme | : |
Page 16
St Seraphim's Trust Notes to the Accounts
12 Tangible fixed assets
| peas ane | |||||
|---|---|---|---|---|---|
| buildings | Equipment | Total | |||
| £ | £ | £ | |||
| Cost or revaluation | |||||
| At 1July 2024 | 175,954 | 16,630 | 192,584 | ||
| At 30June 2025 | 175,954 | 16,630 | 192,584 | ||
| Depreciation and | |||||
| impairment | |||||
| At 1July2024 | 66,828 | 15,528 | 82,356 | ||
| Depreciation chargeforthe year |
3,576 | 696 | 4272 | ||
| At30June 2025 Netbookvalues |
70,404 | 16,224 | 86,628 | ||
| At30June 2025 | 105,550 | 406 | 105,956 | ||
| At30June 2024 | 109,126 | 1,102 | 110,228 | ||
| 13 | Stocks | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Finished goods | 1,312 | 2,003 | |||
| 1,312 | 2,003 | ||||
| Carrying value analysed byactivities | 2025 | 2024 | |||
| 3 | £ | £ | |||
| Sale ofgoodsand services | 1,312 | 2,003 | |||
| 1,312 | 2,003 | ||||
| 14 | Debtors | , | |||
| 2025 | 2024 | ||||
| £ | £ | ||||
| GiftAid : |
1,490 | 2,667 | |||
| 1,490 | (2,667 | ||||
| 15 | Creditors: | ||||
| amounts falling due within one year | |||||
| # | 2025 | 2024 | |||
| £ | £ | ||||
| Trade creditors | - | 738 | |||
| Accryals | 1,176 | 1,050 | |||
| 1,176 | 1,788 | ||||
| 16 | Creditors: | ||||
| amounts fallingdue after more thanone year | |||||
| é | 2025 | 2024 | |||
| £ | £ | ||||
| Bank loans and overdrafts | 916 | 1,348 | |||
| 916 | 1,348 |
Page 17
St Seraphim's Trust Notes to the Accounts
17 Movement in funds
==> picture [499 x 643] intentionally omitted <==
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Incoming|
|resources|
|;|;|Resources|Gross|At30June|
|At|1|July|(includingother|expended|transfers|2025|
|2024|=|gains/losses)|
|£|£|£|£|
|Restricted|funds:|
|Restricted|income|funds:|
|Restricted|fund|3,319|-|(4,632)|1,313|-|
|Total|3,319|-|(4,632)|1,313|-|
|Unrestricted|funds:|
|General funds|151,011|-|-|(1,313)|149,698|
|Designated|funds:|
|General|purpose|fund|4,570|26,402|(25,893)|-|5,079|
|Total|4,570|26,402|(25,893)|-|5,079|
|Total|funds|158,900|26,402|(30,525)|-|154,777|
|18|Analysis|of|net|assets|between|funds|
|Unrestricted|Restricted|Total|
|funds|funds|
|£|£|£|
|Fixed|assets|105,206|750|105,956|
|Net|current|assets|46,393|3,344|49,737|
|Creditors|due|in|more|than|one|year and|
|.|(916)|-|(916)|
|provisions|
|150,683|4,094|154,777|
|19|Reconciliation|of|net debt|
|At|1|July|At 30 June|
|2024|Cash|flows|2025|
|£|£|£|
|Cash and|cash|equivalents|47,138|973|48,111|
|47,138|973|48,111|
|Bank|loans|(1,348)|432|(916)|
|(1,348)|432|(916)|
|Net|debt|45,790|1,405|47,195|
|20|Related|party disclosures|
|Controlling party|
----- End of picture text -----
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 18
St Seraphim's Trust Detailed Statement of Financial Activities
for the year ended 30 June 2025
| Unrestricted | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2025 | 2025 | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Income and endowments from: | |||||
| Donations and legacies | |||||
| Donations from individuals | 8,473 | - | 8,473 | 15,340 | |
| Donations on which Gift Aid is | |||||
| ; reclaimable |
4,251 | - | 4,251 | 28 | |
| Grants received | - | - | - | 3,600 | |
| 12,724 | - | 12,724 | 18,968 | ||
| Charitable activities | |||||
| Staff costs | - | - | - | 34 | |
| - | - | - | 34 | ||
| Other trading activities | |||||
| Sale ofgoods and services | 296 | - | 296 | 2,886 | |
| Sales | 3,968 | - | 3,968 | - | |
| Sales: Events | 8,312 | - | 8,312 | - | |
| 12,576 | - | 12,576 | 2,886 | ||
| Investments | |||||
| Bank interest | 1,102 | - | 1,102 | 1,039 | |
| — | 1102— | 1,102 | 1,039 | ||
| Total income and endowments | 26,402 | - | 26,402 | 22,927 | |
| Expenditure on: | |||||
| Costs ofgenerating donations and | |||||
| legacies | |||||
| Cost ofcharitable activities | 7,926 | - | 7,926 | 668 | |
| 7,926 _ | - | 7,926 | 668 | ||
| Costs ofothertrading activities | |||||
| Sale ofgoods and services | 2,576 | - | 2,576 | 71 | |
| 2876 | 8 | A | |||
| Total of iture on raisin otal of expenditure on raising funds |
10,502 | : | 10,502 | 739 | |
| Employee costs | |||||
| Salaries/wages | - | 1,600 | 1,600 | 3,600 | |
| - | 1,600 | 1,600 | 3,600 | ||
| Premises costs | |||||
| Rates | 339 | - | 339 | 3,167 | |
| Light, heat and power | 2,439 | - | 2,439 | 2,698 | |
| Premises repairs and . maintenance |
1,232 | - | 1,232 | 799 | |
| 4,010 | - | 4,010 | 6,664 |
Page 19
St Seraphim's Trust Detailed Statement of Financial Activities
General administrative costs,
==> picture [478 x 489] intentionally omitted <==
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|||||||||
|---|---|---|---|---|---|---|---|
|including|depreciation|and|
|amortisation|
|Depreciation|of Equipment|3,897|375|4,272|9,379|
|Bank charges|262|-|262|176|
|General|insurances|-|-|-|1,576|
|Subscriptions|368|-|368|280|
|Sundry expenses|1,498|-|1,498|457|
|Telephone,|fax and|broadband|990|-|990|921|
|Legal|and|professional|costs|7,015|375|7,390|12,789|
|Accountancy and|bookkeeping|-|2,657|2,657|2,442|
|Other|legal|and|professional|
|costs|4,366|-|4,366|3,250|
|4,366|2,657|7,023|5,692|
|Total|of expenditure|of other costs|15,391|4,632|20,023|28,745|
|Total|expenditure|25,893|4,632|30,525|29,484|
|Net gains on|investments|-|-|-|-|
|Net expenditure|509|(4,632|(4,123|(|6,557|
|Transfers between|funds|(1,313)|1,313|-|-|
|Net|expenditureexp|before|other|
|ve|
|gains/(losses)|(804)|(3,319)|(4,123)|(6,557)|
|Other|Gains|
|-|-|-|-|
|Net movement|in funds|(804)|(3,319)|(4,123)|(6,557)|
|Reconciliation|of funds:|
|Total funds brought forward|155,581|3,319|158,900|165,457|
|Total funds carried forward|154,777|-|154,777|158,900|
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Page 20