Company registration Iiumber.. 07397643 Charity registration number.. 1138826 Land of Joy (A company limiied by guarantee) Annual Report alld Financial Statements for the Year Ended 31 October 2023 ACCA TYNEREDE ACCOUNIANCY
Land of Joy Contents Reference and Administrative Details Strategic Report Twstees, Report 3to7 Independent Examiner'5 Report Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements
Land of Joy Refer¢n¢¢ and Administrative D¢t#ils Charity Registration Number 1138826 Company Registration Number 07397643 The charity is incorporated in England and Wales. Land Of Joy Greenhaugh Hexham Northumberland NE48 1 PP Registered oifice Independent Examiner Christapher Gillie FCCA TleRede Accountan¢y Ltd Lloyds Bank House Bellingham Hexham Northumberland NE48 2BA Page I
Land of Joy Strategi¢ Report for the Year Ended 31 O¢tob¢r 2023 The trustees, who are directors for the purposes of company law. present their strategic report for the year ended J l Ociober 2023, in compliance with s414C of the Companies Act ?006. Financial review Puliry on reserve It is the current policy of the charity to maintaiii unrestricted funds at a level equaiing to at least three months of unrestricted expenditure. This provides sulyicieiit funds to cover managemeiit and administration costs. Unrestricted funds w'ere maintained io at least this level throughout the period. Principulfunding sources Land of Joy operates on a total generosity mod¢l. The trustees, on-site team and teachers all offer their services oil a volunteer basis. Our main source of funding is donations from the Branches of Joy membership scheme, from those attending retreats, general one-off doiiations, and legacies. Prlrtclpdl rlsAs &ndAncerlalntles The board has coi)ducted a review of the major risks io which the charity is exposed. A register has been esiablished. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces and insurance cover is in place. The strategic report was approved by the trustees of the charity on .................... and signed on its behalf by.. E Halford Treasurer Page 2
Land of Joy Trust¢¢s' Report The directors (who are a150 TrL15tees) are pleased to present their annual report together with the accounts of the charity for the year ended 31 October 2023. Trust The directors ii) office, and the trustees, during the year were.. A Bowley Direttor Trustee C Elliott Director Trustee J Gillebrand Director Trustee (appointed 16110120231 Ven Gyalten Drolma Director frustee (appoinied 1611012023) B Halford Director Trustee {appointed 211011202i) C Sleight Director Trustee S Tate Director Trustee L Watson Director Trustee (appointed 21101.1202i) D Cutis Director Trustee (temlination 2010112i) O Fletcher Director Trustee (termination 4OIO1123) C Rattue Director Trustee (termination 20101123) Registered office: Greenhaugh Hall Greenhau Hexham Northumberland NE48 IPP OUR PURPOSE AND ACTIVITIES Land of Jo), is a Buddhist retreat centre located in Northumberland National Park, offering group and solitary retreats throughout the year. includin¥ secular course5 and introductory. iiitertnediate and advanced retreats. Individua15 from all walks of life are welcome to take part iii retreats here. ACHIEVEMENTS AND PERFORMANCE In February 202i, the Independent newspaper ii)cluded Land of Joy as one of the best meditation and retreat Lentres ii) the UK. https".l/www.independent.co.ukltravelluthest-uk-mindfulness-meditation-retreats.b?282725.html Despite key roles remaining unfilled. the Board and the onsite Team successfully mainiained LOJ'S purpose as a Retreat Centre. attracting the necessary income and volunteers throughout the year to keep the Centre operational. The Board provided hands on support to guide the onsite ieam, manage the accounts and key govemance issues. Over the year. the team worked on standardising and documenting procedures to help manage volunteer tumover. We are also undertaking community outreach, participating in ihe Bellingham County show, and running an Open Day for the centre. We have a fortnightly meditation group which gttracts growing community numbers. To cover our fluctuations in volunteer numbers, we are draIng on ex volunieers and a roster of local resources who come in to help out when Ihings are busy over retreat. The Pro ramme We continued to offer a balanced mix of retreat programmes with secular, introductory, intennediate and advance Buddhist practices well attended. Page 3
Land of Joy Trust¢¢s' Report LOJ rail 15 retreats catering to a broad cr05S Section of iiiterest5 and levels, froin secular to sutra and tantra. 258 people attended 58 days of retreats/course5 with .]despread appreciatioii and positive feedback. Of these 258, 99 were on onliiie and 159 on5lte. Retreats & teachii)gs transitioiied successfully froin online to a hybrid onsitelonliiie atteiidance via Zoom. Recorded teachii)bFs coiitinued to be Inade available on oiir website. The w'ebsite ai)d Facebook pages continued to be updated and strean)lined with infornjation 01) our retreats and other projects etc. The onsite team felt confident they could run the Cei)tre and offer retreats without a Cei)tre Director. Solitary Retreat cabins All three retreat l)uts were in steady use. However. ii) the last year we have experienced last minute cancellaiions and also some people abandlining retreat late. As a result our retreat huts have been vacant 20/0 of the time. despiie being booked months in advance. 40 people went on retreat in the huis from periods ro I week to 3 months. MERIT MAKING The onsite team continued with the established practice of regular pujas from the Tibetan calendar along with protector prayers and Sur. Various other merli making practices were carried out by Kopan and Tulku-la at Land of Joy's request. TEAM MANAGEMENT Several key long-temi volunteer positions remained unfilled despite advertising. Some of these posts were filled for a period and LOJ is appreciative of the 'ork and effort put in by these iiidividual volunteers althoiigh it did not work out as a long temi arrangement. The absence of key leadership positions contributcd to challcnges iii relation to stability and hannony faccd by the volunteer team. HO..eVer followin£ a review of key tasks and uch effort and ener¥y as well as spiritual practices. Inaiiy of the difFiculties have iiow re501ved. The out¥yoiii¥ Chair, Charlotte Elliott stepped in to cover sonie of the Centre Director tasks earlier in the year. Laura Wat50n took over the role of new Chair of Land of Joy on October 215t, a5 Charlotte had to step back due to her long service at Land of Joy. Three tllJ5tees (Chair, Treasurer, aRd Ven Droltnal have taken on the role of joint co-director The on5lte volunteers have continued to deliver ali ainbitlOU5 programine of retreats with excellent feedback from participai)ts. Despite the dil'ficulties we have beeii lacing. we have and still are managii)g to ofler a spiritual space which provides immense beiiefit. The need to increase and improve accoinmodatioi) for the onsite teani remained ali ongoing issue. The Board continued to discuss Mays to attract more volunteers without any conclusive answ'ers. Board member renewal also reinained a key focus with two new Trustees joining the Board in October. BUILDINGS AND GROUNDS Essential maintenance and repair work has been undertaken by volunteers and contractors, ensuring buldings are safe and functional. including the rolif, conservatories. gutters. M'aste pipes, mains w'ater. etc. Northumberland Water Ltd. completed their work installing a new. sewage treatment plant for Greenhaugh Village, December 20?2. Land of Joy are still negoiiating with Northumberland Water to request they pay for the repair of the Greenhaugh Burn culvert bridge that damaged by their trucks. In July, LOJ commissioned an Energy Audit by Brian Patersoii an Energy consultant, who proposed a number of short term and longer terni enhancements to the building to save energy from fitting LED lighting. and insulating cold rooms, replacing windows: and installing solar panels. Short temi recommendations are estimated ai around GBP30,000 and with the cost of solar panels and batteries at GBP85,000. LOJ'S beauti7 natural environment of M'oodlands, lakes and a river has been tended to by the Woodland 'orking group, led by Pauline Barber {5adly moving to OTkne)'). They have cleared rhododeiidroii from the 'oods and planted hundred5 of native trees. We are providing retreat offerings which connect participants to the natural environment. Page 4
Land of Joy Trust¢¢s' Report STR TURE OVERNAN E AND MANA EMENT rnin cument The organisation is a charitable company limited by guarantee, incorporated on 5 October 2010 and registered as a charity on 4 November 2010. The company was established under a Memorandum of Association. which established the objectives and powers ol. the charitable company and is governed under its Articles of Association. as ainended by special resolutionls) dated 12 October ?016. In the event of the company being wound up members are required to contribute an amount not exceeding £ l. Re¢ruitment and a ointment of Trustees The direciors of ihe company are also Charity TrUseS flir Ihe purpose of charity, law and under the Company's Articles are known as Trustees. Under the requirements of the Memorandum and Articles of Association, the number of frustees shall not be less than five. The charity may. by ordinary resolution, appoint a person who is willing 10 act as a Trustee. The existing Trustees are responsible for the recnjitment of new Trustees. In selecting ne. trustees, we seek to identify people who regularly attend events and functiL)ns organised by the charity, or have a strong interesi in. or close connection to, the charity. Trustee Induction and Trainin New trustees are given an induction by the Chair at fomial appoiiitment and provided with copies of the Memorandum and Articles of Association and past Board Minutes. The Tru5tee5 maintain a good working knowlcdge of charity and company law by making use of Companies house, Charity Commission, other relevant governmcnt 'ebSIteS. The charity subscribes to NCVO as a source of 5UPPOrt and advice. OrgFani5atio The Trustees ineet quarterly as a Board. The Chair and Treasurer met regularly with the (on-site) Director. Now the three acting Directors meet frequently to discuss managFement of the centre. These three catry responsibility for the executive tnana¥emeiit of the charity and for the mat]a¥ement of the onsite and offsite volunteer team. Risk MaiiagFement The Board has conducted a review of the major risk5 to which the charity is exp05ed. A register ha5 been established. Where appropriate. systems or pn)cedures have been established to mitigate the risks the charity faces, and insurance cover is in place. Safeguarding '. Land of Joy is committed to protecting people attending the Centre from hami and abuse. We will also ensure that all team members work together, ii) line w'ith this safeguarding policy. and act promptly when dealing with allegations or suspicions of abuse or inappropriate behaviour. There is a nominated persoii who acts as on-site designated safeguarding lead and there is a lead Trustee for safeguarding. In addition, one or two other trustees make up the safeguarding team. LOJ has a Safeguarding Policy and Procedure which is reviewed each }'ear. As an affiliate of FPMT, Land of Joy is commitied to W'lirking in partnership with the FPMT organisation to develop good practice for preventing harm and abuse. In the year under review.. Some of the key volunteers and Board membeTS have attended the training sessions hosted by Jamyang London in associ81ion with FPMT UK at intervals throughout the year. These are ongoing and it will be important to continue 10 encourage and siipporr attendance at these. Key team members also have completed the FPMT Protection from Abuse online training which is required every 3 years. LOJ subscribes to Thirtyone.'Eight Ineinbership which advises and trains faith based charities on safeguarding. Consultation has beeii sought from Thirtyone.'Eight when needed. Safeguardiiig is a standing item on Board meetings and overall within the charity there is a recognitioii of the importance of safeguarding. Page 5
Land of Joy Trust¢¢s' Report We Iiave not had any serious safeguarding ii)cidents that LOJ would have needed to report to the Charities Cotnmissioii. Iiitetpersonal issues and ten5ion5 betweeii volunteers have beeii raised with the Board who have responded to feedback from voliinteers. LOJ 15 activelN' improving it5 ¥overiiance structures despite some key roles being eurtently vacant. These unavoidable vacancies have contributed to soine of the team difficulties that have arisen and been responded to. The Board recognizes good govemance structures support both volunteers and visitors and contribute to wellbeing and safety. The Board recognises a remote retreat envin)nment is i)ot always suitable for everyone ai)d is strengthening processes to enable those who can make best use of the facilities have access to these, and bringing in additional screening procesges to help people make choices of courses or retreat facilities that will support their mental health and wellbeing alongside M'ith their spiritual development. Trustees. teachers and key team members sign and agree to abide by the FPMT Ethical Policy. Loj has updated the safeguarding, mental health and safer recruitment policies annually. The Board and team consider safeguarding as integral to providing a safe space for spiritual development for retreatants and the volunteers. FINANCIAL REVIEW The attached statement of financial activities details the financial position for the year which the irustees consider to be satisfactory. Incoming resources: including specific legacies, for the year totalled.. £104,119 As at 3 1st October 2023, unrestricted funds amounted to £639,485 and restricted ndS were £1,056,325 Princi al Fundin sources Land of Joy operates on a total gener05it)' model. The trustees. on-5lte team and teacher5 all offer their 5etTice5 on a voluntary basi5. Our inain source of fundingy is donations froni Branches of Jo), members, froin those attending retreats, bweneral one-off donati0115. and legacies. We were fortunate duritjg this period to receive COVID Business grants which helped us to be financially secure. Reserves Polic It is the current policy of the charity to maintain unrestricted funds at a level equating to at least three months of unrestricted expenditure. This provides sufficiei)t funds to cower managemei)t and administration costs. Unrestricted funds M'ere maintained to at least this level throughout the period. Future plans We hope io.. Continue to provide a supportive retreat environment for both group and individual reireats. Provide activities for the local community, such as weekly meditation group. pujas, Acquire a car for the centre Develop a plan for fiindraising for new buildings, retrofitting and additional retreat huts, and a prayer wheel Tangible Fixed assets Detsils of the movements in fixed assets are set out in Note 6 10 the accounts. Independent Examiner TyneRede Accountsncy were appointed as independent eYamineTS of the charity in April 9020. Responsibilities of the Trustees in relation to the financial stateinents Page 6
Land of Joy Trust¢¢s' Report Coinpany lam. requires the Trustees to prepare the finai)cial statements for each finai)cial }'ear 'hich give a tn]e and fair view of the state of affairs of the charity and of the incomingF resources and application of resource5 for that year. In preparii)gF the financial statement5 the Trllstees are required to.. Select 5Ultable accounting policies aiid then apply theTn con5lStently Observe the methods and principles of the Charities, SORP Make.judgements and estimates that are reasonable and prudent State whether applicable UK accounting standards have beei) lollowed subject to any departures enclosed and explaii)ed in the financial statements Prepare the financial statements on the going concem basis unless it is inappropriate to presume that the eharity will coi)tinue its activities. The frustees are responsible for keeping proper accouniing records which disclose with reasonable accuracy at any time the financial position of ihe charity and enable them to ensure that the financial statements comply with the Companies Act 2006 and Charities Act of 2011. They are also responsible for safeguarding ihe assets of the charity and hence take reasonable steps for ihe prevention and deiection of fraud and other irregularities. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Aet 2006 relating 10 small companies and the Statement of Recommended Practice 2005 Accounting and Reporting by Charities. Signed on behalf of the Trustees Trustee, Chair / Treasurer Laura Watson l Beth Halford Page 7
Land of Joy Ind¢p¢ndent Examiner'$ Report to the trust¢¢$ of Land of Joy ("the Comp#ny") I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2023. Responsibilities and basis of report As the charity'5 trllstees of the Companv (and a150 Its directors for the pu]P05es of company law) you are responsible for the preparatioii of the account5 in accordance with the requirement5 of the Companies Act 2006 {'the 2006 Act,). Having satisfied Tllyself that the accounts of Land of Joy are not required to be audited under Part 16 of the 2006 Act and are eligFible for indepei)dei)t examinatioii, I report in respect of my exainination of yoiir charit) 5 accounts as carried out under sectioi) 145 of the Charities Act 2011 {'the 2011 Act,). In tarrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)Ib) of the 2011 Act. Independent examiner's statement I havc complctcd my examination. I confim) that no matters have come to my attention in connection with the examination giviiig me cause to believe.. accounting records were iiot kept in respect of Land of Joy as required by section i86 of the 2006 Act.. or 2. the accounts do not accord with those records,. or 3. the accounts do not coinply with the accoiinting requirements of section 396 of the 2006 Act other than any requiremeiit that the accounts give a 'true and fair view, which 15 not a tnatter considered as part of an independent examination., or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prnctice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 10211. I have no concern5 and have come across no other Matte in connectioii w."ith the exainiiiation to which attention should be drawn in this report in ordei to enable a propel undtrstanding of the accounts to be reached. Christopher Gillie FCCA TyneRede Ac¢ountsncy Ltd Llovd5 Bank House Bellinghll HeXhn Northujnberland NE48 2BA 3 June 2024 Page 8
Land of Joy Statement of Financial Aetivities for the Year Ended 31 Oetober 2023 (Ineluding Income and Expenditure Account and Statement of Total Reeognised Gains and Losses) Total 2023 Unrestricted Restrieted Note Income and Endowments fro. Donations and legacies Other income 92,146 11.973 11,973 Total income 104.119 104,119 Expenditure on.. Raising tunds (99.468) (99,468} Total expenditure (99,468) (99,468) Net income 4.651 4,651 Net movemeiit in funds 4,651 4,651 Reconciliation of funds Total funds bn)ught forward 634,834 1.056,326 1.691,160 Total funds carried forward 639.485 1.056,326 1.695,811 Total 2022 Unrestrieted Restricted Note Income and F.ndoivments from: Doiidtions aiid legacies Other income 102,852 18,863 102,852 18,863 Total income 121,715 121,715 Expenditure on: Raising funds (88,545 (88,661) Total eXpendire (88,545) (88,661) Net incomel{expenditure) 33,170 33,054 Net mov¢m¢nt in funds 33,170 33,054 Reconciliation of funds Total ndS brought fonward 601,664 1,056,442 1,658,106 Total ndS catTied fonvard 634.834 1,056.326 1,691,160 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2090 is shown in note I l. The i)otes On pages I I to 15 form an integral part of these financial statements. Page 9
Land of Joy (Registration numb¢r: 07397643) Balanee Sheet as at 31 Oetober 2023 2023 2022 Note Fixed assets Tangible assets 1,471,169 1,473,415 Current assets Debtors Cash at bank and in hand 9,160 219,960 6,335 218,456 228,4?0 224,791 Creditors: Amounts falling due within one year 11,7?6) 11,643} Net current assets 226.694 223,148 Total assets less current liabilities 1,697,863 1,696,563 Creditors: Amounts falling due after more than one year 10 12,052) 15,403} Net assets 1,695,811 1.691.160 Funds of the Charity: Restricted income funds Restricted funds 1,056,326 1,056,326 Unrestrietcd ineome funds Unrestricted funds 639,485 634,8J4 Total funds 1.69i,811 1.691,160 For the financial year eiidin¥ i l October 2023 the charity was entitled tts exemption froin audit under section 477 of the Companies Act 2006 relating to small coinpanie5. Direciors. responsibilities.. The members have not required the charity to obtain an audit of its accounts for Ihe year in question in accordance with section 476: and The directors acknowledge their responsibilities for coinplying with the requirements of the Ad with respect to accounting reLords and the prepar(Ition of accounts. The financial statements on pages 9 to 15 w¢re approved by the trustees, and authorised for issue on . and sied on their b¢half by.. E Halford Treasurer The i)otes On pages I I to 15 form an integral part of these financial statements. Page 10
Land of Joy Notes to the Fin#n¢i#l Slat¢m¢nts for the Y¢#r Ended 31 October 2023 Charity status The charity is limited by shar¢ capital, incorporated in England and Wales. The address of its registered office is.. Land Of Jo), Greenhaugh Hexham Northumberland NE48 IPP 2 Accounting policies Sumrnary of significant accounting policies and key accounting estimates The principal accouniing policies applied in the preparaiion of these financial siatemenis are sei out below. These policies have been consistently applied to all ihe years presented. unless oiherwise stated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (applicable to charities preparing iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021) {issued in October 2019} (Charities SORP IFRS 10))), the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 102) and the Companies Aci 2006. Basis of preparatio Land of Joy meets the definition of a public benefit entity. under FRS 102. Assets and liabilities are initially recognised at historical cosi or transaction value unless otherwise stated in the relevant accounting polic). notes. Going eoneern The trnstees consider that there are no matcrial uncertainties abolit the charity's ability to continiie as a going concern nor any significant areas of uncertainty that affect the Carying value of ass¢ts held by th¢ charity. Exemption from preparing a eash floiTr stAtement The charity opted to early adopt Bulletin I piiblished on 2 Febrnary 2016 and hav¢ therefore not in¢luded a cash flow statement iii these financial statements. Income and endowments All income is recog511ised once the charity has entitleineiit to the income. it 15 probable that the income will be received and the amouiit of the income receivable can be Inea5ured reliably. Dontsilons andlegtseles Donaiions are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions thai require a level of performance by the charity before the chariry is eniitled to ihe funds. the income is deferred and not recognised until either those conditions are fully meL or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these condiiions will be fulfilled in the reporting period. Page 11
Land of Joy Notes to the Fin#n¢i#l Slat¢m¢nts for the Y¢#r Ended 31 October 2023 Gramts receivftble Grants are recognised when the charity has an entitlement to the funds and any condition5 linked to the grants have been inet. Where perfotynance condition5 are attached to the gFrant aiid are yet to be tnet, the income 15 recogni5ed as a liability and included 011 the balance sheet as deferred income to be released. Expenditure All expenditure is recogniged once there is a legal or constructive obligation to that expenditure. it is probable settleinei)t is required and the amount can be Ineasured reliably. All costs are alloLated to the applicable expenditure heading that aggregate sin)ilar costs to that categonj. Where costs cannot be directly atiributed to particular headings they have been alloLated 01) a basis coi)sigtent with the use ol. resources. w'ith central staff Losts allocated on the basis of time spent. and depreciatioii charges allocated 01) the portion of the asset's use. Other support costs are allLKated based on the spread of stsff costs. Rai.suigfunds 'l-hc%e are costs incurred in attracting voliintary income, the management of investments and those incurred in trading activities Ihat raise nds. Support eosts Support costs iiiclude ceiitTal functions and have been allocated to activity cost categories on a basis consistent 'ith the use of resources. for example, allocating property costs by floor area5, or per capita, stsff costs by the time spent and other costs by their usagFe. Government grants Goveri)ment graiits are recognised based on the accrual model and are Tneasured at the fair value of the asset ieceived or receivable. Grants ale Lla5silied as relatii)¥ either to revenue or tts asstts. Grants relating to revenue are rtLognised in inctsme over the period in which the related costs are iecognised. Grants relating to assets are iects¥nised over the expected useful life of the asset. Where part of a grant relating to an asset is delerrtd. it is recognised as deferred income. Taxation The chaiity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore li meets the defiiiiiion of a charitable coinpany for UK corporation tax purposes. Accordingly, the ehariry is poientially exempi from iaxation in respect of income or capital gains received wiihin caiegories covered bj. Chapter J Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxatilin of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. DepreciatioTh and aortISation Land and building depreciation has nllt been charged as in the opinion of the trustees the markei value exceeds book value. Depreciation is provided on tangible fixed assets so as to rIte off the cost or valuation, less any estimated residual value, over their expected usefvl economic life as follows.. Asset ela55 Sewage Works Retreat Huts Fixture5 & Fittin¥5 Buildin¥ Rennovations Depreeiation method and rate 20 /0 StraiJo I line 7/0 Straight line 20t)/o Straight line 20t)/o Stsai¥ht line Page 12
Land of Joy Notes to the Fin#n¢i#l Slat¢m¢nts for the Y¢#r Ended 31 October 2023 Cash and eash cquivalcnts Ca%h and cgsh cqllivalcnts ¢omprise ¢ash on hgnd and ¢all deposits, and other short-tem) highly liquid investment% that are readily convertibl¢ to a knoTh amount of ¢ash and are subjert to an insignificant risk of ¢hange in value. Trade ereditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary. coiirse of hu%iiiess from suppliers. Accounts pa}'able are cla8%ified a% ciirrent liabilities if the ¢harity does not have an unconditioiial rifwht, at the end of the reporting period, to defer Settlement of the creditor for at least N".elve moiiths after the reporting date. If there 15 ali unconditioiial riLFht to defer settlement for at least twelve months after the reportingF date, they are presented as non-cutt liabilities. Trade creditors are recogni5ed iiiitially at the transaction price and 5ub5equently measured at amortised cost usiiibF the effective interest Tnethod. Fund structure Unrestricted income funds are general funds that are available foi use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 3 Net ineLimingloutgoing resources This is aftcr charging.. 2023 2022 Depreciation of fixed assets 7.974 6,567 4 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No irusiees have received any reimbursed expenses or any other benefits frlim the charity during the year. S Taxation The charity is a registered charity and is rherefore exempt from taxation. Page 13
Land of Joy Notes to the Fin#n¢i#l Slat¢m¢nts for the Y¢#r Ended 31 October 2023 6 Tangible fixed assets Fixtures, rittings and building rennovalions Land and buildings Other tangible rixed asset Retreat hut5 Total Cost At I NL)vember 2022 Additions 1,416,368 92,986 5,728 66,650 23,749 1,599,753 5,728 At 31 October 2023 1,416,368 98,714 66,650 23,749 1,605,481 Depreciation At l November 2022 Charge for the year 88,266 14,323 4.666 23,749 126.338 7.974 At i l October 2023 91,574 18,989 23,749 134,312 Net book value At i l October 2023 1.416,368 7,140 47,661 1,471,169 At i l October 2022 1,416,368 4,720 1,47i,415 7 Debtors 2023 2022 Other debtors 9,160 6,335 8 Cash and cash equivalents 2023 2022 Cash on hand Cash at bank 142 219,118 78 218,378 219,?60 218,456 9 Creditor5: aount5 falling due withiTh one year 2023 2022 Trade creditors Other creditors 674 593 AccalS 1,050 1,050 1,726 1.643 Page 14
Land of Joy Notes to the Fin#n¢i#l Slat¢m¢nts for the Y¢#r Ended 31 October 2023 10 Creditors: amounts falling due after one year 2023 2022 Other loans 2,052 5,40i I l Funds Balanee at I November 2022 Incoming resources Resources expended Balance at 31 October 2023 Unrestrieted funds Gefter[ General 634,834 104,119 (99,642) 639,311 Rtstrieted funds Property Car Coiitingency reserves Hospice Gompa roof repair Holy objecis Volunteer White NN Tree Sponsorship Kalanjpa Stae 1,001.646 15.000 20,000 10,i03 2,716 500 250 2,000 2,455 1,456 1,001,646 15,000 20,000 10,30i 2,716 500 250 2.000 2,455 1,456 Total restri¢¢ed fund5 1,056,326 1.056,326 Total funds 1,691.160 104,119 (99,642) 1.695.6J7 Page 15
Land of Joy D¢tail¢d Statement of Fin#n¢ial A¢tivitie$ for the Y¢#r Ended 31 October 2023 Total 2023 Total 2022 Income and Endowments from: Donations and legacies (analysed below) Charitable activities (anaiysed below) 10? 852 18.863 11,973 Total income 104,119 121,715 Expenditure on.. Rai5in¥ funds lanalysed below) (99,468} (88,661 } Total expenditure (99,468) 188.661 } Net income 4,651 i3,054 Net movemei)t in funds 4,651 33,054 Reconciliation of funds Total funds brought forward 1.691,160 1.658,106 Total funds carried forward 1.69i,811 1.691,160 This page does nor forni part of the statutory financial staiements. Page 16
Land of Joy D¢tail¢d Statement of Fin#n¢ial A¢tivitie$ for the Y¢#r Ended 31 October 2023 Total 2023 Total 2022 Donulions and legocies Donations Gift Aid Received Retreat Donations Grants receivable 31,753 8,830 51,563 44,371 7,582 50,879 20 92,146 102,852 Churitqhle arlivilies Ren¢wabl¢ Heat In¢entive 11,973 18,863 11,97i 18,863 Raislngfumds Depreciaiion of fixiures and fittings Depreciation of Retreat Huts Depreciatioii of Rennovations Volunteer expenses Rent and rates Light, heat and power Insurance Repairs and maintenance Repairs and maintenance Ground5 and Gardens Retreat Expenses Trade subscriptions Charitable donations Advertising Accountancy fees Leglal and professional fees Bank charge5 Office expenses Bank interest payable (3,162) (4,666} 11461 (17,759} 12,466) (36,556) (4,654) 11,757} (4,666} {144) (20.975} 11,704) (23,487) 14,289} (15,337} 14.828} li.368} {2,128} 11,440) {109) (1,446} {649) {7311 {1,487) (6.680} 15.OJi} 11,640} (1,122) {76) (1,488} 12201 18441 12,813} 1,001 (99,468} (88,661 } This page does nor forni part of the statutory financial staiements. Page 17