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2025-12-31-accounts

Docusign Envelope ID: 0483F9AA-A507-88F0-8117-6351F071D802

Company registration number: 07397643 Charity registration number: 1138826

Land of Joy

(A company limited by guarantee)

Annual Report and Financial Statements

for the period from 1 November 2024 to 31 December 2025

Docusign Envelope ID: 0483F9AA-A507-88F0-8117-6351F071D802

Land of Joy

Contents

Reference and Administrative Details 1
Strategic Report 2
Trustees' Report 3 to 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14 to 19

Docusign Envelope ID: 0483F9AA-A507-88F0-8117-6351F071D802

Land of Joy

Reference and Administrative Details

Charity Registration Number 1138826 Company Registration Number 07397643

The charity is incorporated in England and Wales.

Registered Office

Independent Examiner

Land Of Joy Greenhaugh Hexham Northumberland NE48 1PP Christopher Gillie FCCA TyneRede Accountancy Ltd Lloyds Bank House Bellingham Hexham Northumberland NE48 2AZ

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Land of Joy

Strategic Report for the Period from 1 November 2024 to 31 December 2025

The trustees, who are directors for the purposes of company law, present their strategic report for the period from 1 November 2024 to 31 December 2025, in compliance with s414C of the Companies Act 2006.

This report covers a 14-month accounting period following the trustees' decision during the period to align the charity's accounting reference date with its annual programme of charitable activities. The retreat programme operates on a January-to-December calendar; aligning the financial year-end to 31 December enables more coherent budgeting, programme planning and trustee reporting cycles. The change has been notified to Companies House. Comparative figures for the prior period (12 months ended 31 October 2024) are presented in the Statement of Financial Activities and Balance Sheet but are not directly comparable in scale due to the difference in period length.

Financial review

Policy on reserves

It is the current policy of the charity to maintain unrestricted funds at a level equating to at least six months of unrestricted expenditure. This provides sufficient funds to cover management and administration costs. Unrestricted funds were maintained to at least this level throughout the period.

Principal funding sources

Land of Joy operates on a total generosity model. The trustees, on-site team and teachers all offer their services on a volunteer basis. Our main source of funding is donations - from the Branches of Joy membership scheme, from those attending retreats, general one-off donations, and legacies.

Principal risks and uncertainties

The Board has conducted a review of the major risks to which the charity is exposed during the period, with the risk register reviewed by the trustees and updated to reflect operational and governance changes. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces and insurance cover is in place. All requirements arising from the November 2024 insurance survey were fully implemented during the period.

7/17/2026

The strategic report was approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... P T Wells Chair of the Board of Trustees

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Land of Joy

Trustees' Report

The directors (who are also Trustees) are pleased to present their annual report together with the accounts of the charity for the period ended 31 December 2025.

Trustees

The directors in office, and the trustees, during the period were:

Officers (non-trustee)

During the period the following officer served the charity outside the Board:

Ven Kalden (Marcos Troia Machado Silva), Honorary Treasurer, appointed 27 April 2025 in a non-governance capacity following the resignation of Beth Halford as Trustee Treasurer.

Our Purpose and Activities

Land of Joy's primary objective is to advance the Buddhist Faith and support Buddhist Charitable Institutions throughout the United Kingdom and beyond. We strive to make Buddhist teachings accessible to all who seek them, regardless of background or experience. This mission is accomplished through our dedicated retreat centre, which offers:

Achievements and Performance

Recognition and Accolades

Land of Joy continued to attract external recognition during the period. The charity was again featured in The Independent's coverage of the best UK retreat centres for mindfulness and meditation, reflecting the centre's growing reputation among national audiences and reinforcing the visibility of its programme.

Operational Success

The 14-month period was one of significant transition and consolidation. Following over a year of dedicated service as one of two Acting Directors, Ven Drolma stepped back from the role in early 2025. Beth Halford resigned as Trustee at the AGM on 27 April 2025 to take on the operational role of Director, (having previously been the other acting director), providing focused leadership of the centre's day-to-day operations under a one-year appointment confirmed by the Board.

The Board of Trustees also undertook succession planning during the period. Laura Watson stepped back from the role of Chair on 28 July 2025, having indicated her intention to step down from the Board in early 2026 ahead of relocating overseas. Paul Wells was appointed as Chair on the same date and Laura remained as a Trustee throughout the reporting period to support continuity. Ven Kalden was appointed Honorary Treasurer on 27 April 2025, serving in a non-governance capacity outside the Board to provide dedicated financial oversight while preserving clarity of trustee responsibilities.

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Land of Joy

Trustees' Report

Despite this period of leadership change, the centre demonstrated consistent operational stability and growth:

• The volunteer team was strengthened with the appointment of Marie Dimond as Centre Coordinator, with responsibility for onsite operations, volunteer support, maintenance coordination, health and safety and onsite finance.

• Planning permission was secured for two additional retreat huts on the Land of Joy grounds, alongside supported by external planning consultant Nathan Mullin.

• A new menu and food ordering system implemented from mid-2025 by volunteers Marie Dimond and Anna Wittcop is generating annual food cost savings projected at approximately £4,800.

Facilities and Infrastructure

The 14-month period saw substantial investment in the main building and supporting infrastructure:

• Internal secondary glazing was fitted to the original metal-framed windows in the gompa, retaining the building's external appearance while significantly improving insulation. Window replacement continued in other rooms during the period.

Land of Joy continued to maintain its 5 out of 5 food hygiene rating from Northumberland County Council.

Spiritual Programme

The centre continued to offer a diverse range of retreat programmes during the 14-month period:

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Land of Joy

Trustees' Report

• Welcomed the visit of Khadro Tseringma Rinpoche in May 2025 in collaboration with Jamyang London and Jamyang Leeds.

• Continued regular pujas and merit-making activities in line with the Tibetan calendar.

Phara Khenchen Rinpoche (Tulku-la), our Minister of Religion who joined the centre in August 2024, completed his first-year contract review in summer 2025 in collaboration with the international FPMT office. The review was strongly endorsed and his contract was renewed on a one-year fixed-term basis with scope for him to take on a wider teaching role in due course. During the period he led regular pujas including protector prayers, sur, incense, Lama Chöpa, White Tara, Medicine Buddha and naga pujas, supported the gompa setup for retreats, hosted weekly Q&A sessions for volunteers and contributed to the team's integration of dharma practice into daily centre life.

During the period the trustees & Centre Director, in collaboration with the international FPMT office, met with Khadro-la in May 2025 in London. Initial conversations were held about the introduction of holy objects to the grounds, with subsequent reflection by the team and consultation with knowledgeable practitioners. A proposal will be developed for the Board's consideration in due course.

The 2026 retreat programme has been finalised and published on the Land of Joy website, with strong early bookings including a fully-booked Vajrayogini Enabling Action Retreat. The 2026 programme includes three retreats arranged in collaboration with Jamyang Leeds, and the centre will host or co-host visits from Geshe Sherab in July 2026 and (subject to confirmation) Jhado Rinpoche, in collaboration with Jamyang London and Jamyang Leeds.

Volunteer Coordination and Management

Following the 2024 establishment of a management committee model, the operational structure was further developed during the period. Marie Dimond was appointed Centre Coordinator with responsibility for onsite operations, volunteer support, maintenance coordination, health and safety, and onsite finance. Marie reports to the Director and is supported by Tulku-la and a network of remote volunteers covering communications, bookings, web management and bookkeeping.

The centre's approach to residential volunteering increasingly treats it as a "volunteer retreat", supported during the period by:

• New mandatory training resources being developed in-house using Google Workspace tools, covering safeguarding, fire safety, working at height and kitchen hygiene, removing the need for external training providers and generating significant cost savings.

The centre continued to strengthen its safer-recruitment processes during the period, with a comprehensive review of the volunteer recruitment and management process undertaken by Marie Dimond and the Director, leading to streamlined onboarding, a new task allocation system and a re-developed volunteer recruitment webpage.

Buildings and Grounds

Maintenance and repair work continued throughout the period, carried out by dedicated volunteers and skilled contractors. This included repairs to the gompa ceiling, fitting of internal secondary glazing to the gompa windows, repairs to the back kitchen, replacement of the dishwasher, repairs to the peach house and polytunnels, ongoing maintenance of the retreat huts (including resolution of a persistent leak in Hut 3), repairs to the pellet boiler system following routine servicing, and electrical recertification work to address advisories from the November 2024 insurance survey.

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Land of Joy

Trustees' Report

Land of Joy has continued to work on its natural environment of woodlands, lakes, river and streams through the efforts of the Woodland Working Group, now coordinated by trustee Chris Kenyon & volunteer Janice Hardy following Pauline Barber's retirement as Woodland Manager in 2024. Three woodland working weeks were held during the period:

• March 2025: completion of invasive Rhododendron Ponticum eradication in the Ancient Woodland area, a project that has spanned eight to nine years; aftercare of newly planted trees on the clearfell site; and bracken control around planned retreat hut sites.

• July 2025: continued woodland management, opened to the public for the first time.

• October 2025: lake clearance using waders to limit horsetail spread, and bracken clearance at the site of the planned new retreat huts.

The centre's contingency planning for young trees during the hot, dry summer was tested but not required as rainfall arrived in time. The walled garden produced a strong harvest contributing significantly to retreat catering, despite the loss of brassicas to a national caterpillar infestation.

Major Projects and Planning

After an extended planning process supported by external consultant Nathan Mullin, planning permission was secured during 2025 for two additional retreat huts on the Land of Joy grounds,. Conditions are now being met and the groundworks plans were revised in late 2025.

The trustees plan to construct both retreat huts in autumn 2026, supported by a substantial donation indicated by a benefactor and existing restricted funds, with a dedicated fundraising campaign to launch at Losar 2026. The decision to build both huts simultaneously reflects the access constraints of the site, the proximity of the two locations, and the expected fundraising momentum from visible groundworks. Each hut is anticipated to generate approximately £5,000 to £7,000 of additional retreat income annually once operational.

During the period, the Finance Working Group developed a proposed three-pillar Investment Strategy intended to protect deposit-protection-exposed reserves and improve the return on charitable funds. The proposal was reviewed by the trustees in 2025 with implementation planned during the period for delivery in 2026.

Structure, Governance and Management

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 sets out the objectives and powers of the charitable company, and is governed under its Articles of Association as amended by special resolution dated 12 October 2016. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. During the period the trustees commissioned external legal counsel to review the Articles of Association, with proposed revisions to be presented for approval at the next AGM.

The directors of the company are also charity trustees for the purposes 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 Trustees shall not be less than five. The charity may, by ordinary resolution, appoint a person who is willing to act as a Trustee.

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Land of Joy

Trustees' Report

The existing Trustees are responsible for the recruitment of new Trustees. In selecting new trustees, the Board seeks to identify people who regularly attend events and functions organised by the charity, or have a strong interest in or close connection to the charity. The Board also seeks to recruit individuals with skills useful to Land of Joy. New trustees are given an induction by the Chair at formal appointment and provided with copies of the Memorandum and Articles of Association and past Board Minutes. The Trustees maintain a good working knowledge of charity and company law through Companies House, the Charity Commission, NCVO and other relevant resources.

The Trustees met four times as a Board during the period: in January, April, July and October 2025. Between Board meetings, oversight is exercised through Working Groups (Finance, Spiritual Activities, Construction & Renovation, Volunteer Programme and Fundraising) which include trustees, the Director and skilled volunteers. The Director, supported by the Centre Coordinator and a network of remote volunteers, holds executive responsibility for the day-to-day management of the centre.

The Board has conducted a review of the major risks to which the charity is exposed during the period. A risk register is in place and was reviewed and updated by the Board to reflect operational and governance changes. Where appropriate, systems or procedures 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 harm and abuse. The charity ensures that all team members work together, in line with this commitment and the Safeguarding Policy, and act promptly when dealing with allegations or suspicions of abuse or inappropriate behaviour. There is a nominated person who acts as on-site designated safeguarding lead and there is a lead Trustee for safeguarding. The safeguarding team includes one or two further trustees and the centre director. The Safeguarding Policy and Procedure is reviewed each year. As an affiliate of FPMT, Land of Joy is committed to working in partnership with the FPMT organisation to develop good practice for preventing harm and abuse. Shan Tate has collaborated in policy development and training with other national and international FPMT centres and FPMT Inc. to maintain safe practices in relation to protection from harm and abuse.

In the period under review:

• Safeguarding remained a standing item on Board meetings throughout the period.

• The Safeguarding Policy was reviewed and approved at the AGM on 27 April 2025 alongside the Confidentiality Policy, DBS Policy, FPMT/LoJ Ethical Policy, Mental Health Guidelines, Safe Recruitment Policy and Whistleblowing Policy.

• Alan Russell, an experienced practitioner with a background in special needs and educational contexts, was onboarded as a new safeguarding team member during the period.

• Marie Dimond, in her role as Centre Coordinator, took on responsibility as the first point of contact for on-site safeguarding matters and undertook DBS Checker training.

• Key volunteers and Board members continued to attend training sessions hosted by Jamyang London in association with FPMT UK and co-facilitated by Shan Tate, Land of Joy Lead Trustee for safeguarding. Key team members also completed (or are scheduled to complete) the FPMT Protection from Abuse online training, which is required every three years.

• The charity continues to subscribe to Thirtyone:Eight membership for safeguarding advice and consultation, which has been drawn upon when needed.

• The FPMT/LoJ Ethical Policy is now displayed prominently in the centre and signed by trustees, teachers and key team members.

• Safeguarding posters were updated and relocated to more visible positions in the centre during the period.

• No safeguarding matters have met the threshold to be reported to the Charities Commission in this period.

• The Board continues to refine its screening processes to help individuals make informed choices about courses or retreat facilities that will support their mental health and wellbeing alongside their spiritual development.

• Trustees, teachers and key team members sign and agree to abide by the FPMT Ethical Policy.

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Land of Joy

Trustees' Report

• The Board and team consider safeguarding as integral to providing a safe space for spiritual development for retreatants and volunteers.

• Potential issues are responded to proactively and recorded according to good practice and insurer requirements.

• Safe recruitment practices as outlined in the Safe Recruitment Policy have been followed thoroughly for volunteer recruitment and DBS checks have been made where necessary for for longer term volunteers and roles that might involve contact with young people such as the Family Retreat.

• During the period the Board recognised the value of clear procedures around the conclusion of volunteer placements and timely action where team balance is affected. Probation periods are now explicitly communicated as part of the volunteer agreement, with mutual reviews scheduled to allow the centre and the volunteer to make informed decisions about whether continued service is appropriate.

• Children are supervised by their parent, teacher or carer whenever those under age 18 are present at Land of Joy. No online meetings are held with people of this age group and their presence at Land of Joy is infrequent and mainly limited to one or two short family retreats annually. DBS checks are completed for family retreat leaders and the onsite team are not left alone with unaccompanied children.

Future Plans

As we look ahead, Land of Joy remains committed to its core mission while seeking to expand its offerings and improve its facilities. Our key objectives for the coming year include:

1. Enhancing Retreat Experiences

We will continue to provide a supportive and nurturing environment for both group and individual retreats. Our aim is to maintain the high quality of our existing programme while exploring new ways to enrich the retreat experience for all participants. The natural landscape in which Land of Joy is situated remains central to this aim and the Board is committed to its care and development. The 2026 retreat programme has been published with strong early bookings and is shaped by closer collaboration with Jamyang Leeds and Jamyang London, including high-lama visits.

2. New Retreat Huts and East Wing Renovation

With planning permission now secured, the Board will oversee the construction of two new retreat huts in 2026, supported by a benefactor's indicated donation, existing restricted funds and a dedicated fundraising campaign launching at Losar 2026. East wing renovation, including new windows, carpets and full redecoration, is scheduled for completion in spring 2026.

3. Sustainable Development and Fundraising

To support our growth and maintain our services, we are committed to:

• Developing a comprehensive fundraising strategy with a yearly rhythm focused around the four Buddha Days alongside larger project campaigns.

• Implementing a charity sector tiered savings strategy to protect reserves and generate additional income for the centre's mission.

• Continuing to find innovative ways to nurture and develop a core group of dedicated volunteers.

• Progressing the conversion of the centre to renewable energy sources.

4. Expanding Support Network

We plan to broaden the support provided by Branches of Joy, our network of supporters and volunteers. The redeveloped Branches of Joy webpage and improved supporter communications launched during the period have laid the groundwork for renewed growth in 2026, supporting the centre's ability to deliver more diverse programmes and reach a wider audience.

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Land of Joy

Trustees' Report

5. Governance Development

The Board will continue to recruit additional trustees with skills aligned to the charity's needs, will present revised Articles of Association at the next AGM, and will support the Director, Honorary Treasurer and operational team in embedding the financial controls, reserves policy and internal procedures developed during the period.

Financial Review

The attached Statement of Financial Activities details the financial position for the period, which the trustees consider to be satisfactory. The 14-month period reflects the change of accounting reference date from 31 October to 31 December approved by the trustees and registered with Companies House during 2025.

Incoming resources, including specific legacies, for the 14-month period totalled: £128,539.

Total expenditure for the 14-month period was £118,593

As at 31 December 2025, unrestricted funds amounted to £626,072 and restricted funds were £1,095,968.

During the period an unrestricted legacy of £25,000 was committed to the charity by a long-term supporter. The trustees record their deep gratitude for this generous support of the charity's mission.

Principal Funding Sources

Land of Joy operates on a total generosity model. The trustees, executive team and teachers all offer their services on a voluntary basis. Our main source of funding is donations from Branches of Joy members, donations from those attending retreats, general one-off donations, RHI funding and legacies.

Reserves Policy

It is the current policy of the charity to maintain unrestricted funds at a level equating to at least six months of unrestricted expenditure. This provides sufficient funds to cover management and administration costs. Unrestricted funds were maintained to at least this level throughout the period.

Tangible Fixed Assets

Details of the movements in fixed assets are set out in Note 6 to the accounts.

Independent Examiner

TyneRede Accountancy were appointed as independent examiners of the charity in April 2020.

Responsibilities of the Trustees in relation to the financial statements

Company law requires the Trustees to prepare the financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources for that period. In preparing the financial statements the Trustees are required to:

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Land of Joy

Trustees' Report

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006 and Charities Act 2011. They 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. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and the Statement of Recommended Practice 2005 - Accounting and Reporting by Charities.

Signed on behalf of the Trustees

........................................... Paul Wells Chair of the Board of Trustees

Date: 7/17/2026

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Land of Joy

Independent Examiner's Report to the trustees of Land of Joy ("the Company")

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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 accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of Land of Joy are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of Land of Joy as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or

  4. the accounts 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)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Christopher Gillie FCCA TyneRede Accountancy Ltd

Lloyds Bank House Bellingham Hexham Northumberland NE48 2AZ

14 July 2026

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Land of Joy

Statement of Financial Activities for the Period from 1 November 2024 to 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
Other income
Total income
Expenditure on:
Raising funds
Total expenditure
Net income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
10
Note
Income and Endowments from:
Donations and legacies
Other income
Total income
Expenditure on:
Raising funds
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
10		 Unrestricted
£
102,796
21,093
123,889
(115,720)
(115,720)
8,169
6,076
14,245
611,827
626,072
Unrestricted
£
104,687
14,260
118,947
(101,335)
(101,335)
17,612
(45,270)
(27,658)
639,485
611,827		 Unrestricted
£
102,796
21,093		 Restricted
£
4,650
-		 Total
31 December
2025
£
107,446
21,093
128,539
(118,593)
(118,593)
9,946
-
9,946
1,712,094
1,722,040
Total
31 October 2024
£
107,687
14,260		 Total
31 December
2025
£
107,446
21,093
123,889 4,650 128,539
(115,720) (2,873) (118,593)
(115,720) (2,873) (118,593)
8,169
6,076		 1,777
(6,076)		 9,946
-
14,245
611,827		 (4,299)
1,100,267		 9,946
1,712,094
626,072 1,095,968 1,722,040
Restricted
£
3,000
-
3,000
(4,329)
(4,329)
(1,329)
45,270
43,941
1,056,326
1,100,267
121,947
(105,664)
(105,664)
16,283
-
16,283
1,695,811
1,712,094

All of the charity's activities derive from continuing operations during the above two periods.

The notes on pages 14 to 19 form an integral part of these financial statements. Page 12

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Land of Joy

(Registration number: 07397643) Balance Sheet as at 31 December 2025

Note
Fixed assets
Tangible assets
6
Current assets
Debtors
7
Cash at bank and in hand
8
Creditors: Amounts falling due within one year
9
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
10		 2025
£
1,492,890
6,355
225,198
231,553
(2,403)
229,150
1,722,040
1,095,968
626,072
1,722,040		 2024
£
1,490,115
-
224,947
224,947
(2,968)
221,979
1,712,094
1,100,267
611,827
1,712,094

For the financial period ending 31 December 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 12 to 19 were approved by the trustees, and authorised for issue on 7/17/2026.................... and signed on their behalf by:

......................................... P T Wells Chair of the Board of Trustees

The notes on pages 14 to 19 form an integral part of these financial statements. Page 13

Docusign Envelope ID: 0483F9AA-A507-88F0-8117-6351F071D802

Land of Joy

Notes to the Financial Statements for the Period from 1 November 2024 to 31 December 2025

1 Charity status

The charity is limited by share capital, incorporated in England and Wales.

The address of its registered office is: Land Of Joy Greenhaugh Hexham Northumberland NE48 1PP

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise 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 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Land of Joy 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 notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations 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 that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

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Land of Joy

Notes to the Financial Statements for the Period from 1 November 2024 to 31 December 2025

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Page 15

Docusign Envelope ID: 0483F9AA-A507-88F0-8117-6351F071D802

Land of Joy

Notes to the Financial Statements for the Period from 1 November 2024 to 31 December 2025

Depreciation and amortisation

Land and building depreciation has not been charged as in the opinion of the trustees the market value exceeds book value.

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Sewage Works 20% straight line basis Retreat Huts 7% straight line basis Fixtures & Fittings 20% straight line basis Building Renovations 20% straight line basis Motor Vehicles 20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for 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 incoming/outgoing resources

This is after charging:

Depreciation of fixed assets 31 December
2025
£
19,873		 31 October
2024
£
13,646

4 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

Page 16

Docusign Envelope ID: 0483F9AA-A507-88F0-8117-6351F071D802

Land of Joy

Notes to the Financial Statements for the Period from 1 November 2024 to 31 December 2025

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

5 Taxation

The charity is a registered charity and is therefore exempt from taxation.

6 Tangible fixed assets

Land and
buildings
£
Cost
At 1 November
2024
1,416,368
Additions
-
At 31 December
2025
1,416,368
Depreciation
At 1 November
2024
-
Charge for the year
-
At 31 December
2025
-
Net book value
At 31 December
2025
1,416,368
At 31 October 2024
1,416,368
7
Debtors
Other debtors
8
Cash and cash equivalents
Cash on hand
Cash at bank		 Fixtures,
fittings and
building
renovations
and motor
vehicles
£
131,306
18,937
150,243
100,554
14,127
114,681
35,562
30,752
Page 17		 Retreat huts
£
66,650
3,711		 Other tangible
fixed asset
£
23,749
-
23,749
23,749
-
23,749
-
-
2025
£
6,355
2025
£
38
225,160
225,198		 Other tangible
fixed asset
£
23,749
-
23,749
23,749
-
23,749
-
-
2025
£
6,355
2025
£
38
225,160
225,198		 Total
£
1,638,073
22,648
1,660,721
147,958
19,873
167,831
1,492,890
1,490,115
2024
£
-
70,361 23,749
23,655
5,746		 23,749
-
29,401 23,749
40,960 -
42,995 -
2025
£
6,355
2025
£
38
225,160
225,198
2024
£
174
224,773
224,947

Docusign Envelope ID: 0483F9AA-A507-88F0-8117-6351F071D802

Land of Joy

Notes to the Financial Statements for the Period from 1 November 2024 to 31 December 2025

9 Creditors: amounts falling due within one year

9
Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals		 2025
£
629
574
1,200
2,403		 2024
£
1,117
529
1,322
2,968

Page 18

Docusign Envelope ID: 0483F9AA-A507-88F0-8117-6351F071D802

Land of Joy

Notes to the Financial Statements for the Period from 1 November 2024 to 31 December 2025

10 Funds

10 Funds
Unrestricted funds
General
General
Restricted funds
Property
Car
Contingency Reserves
Hospice
Retreat Huts
Sangha Fund
Field Rental
East Wing Renovation
Dining room Renovations
Total restricted funds
Total funds		 Balance at 1
November
2024
£
611,827
1,001,646
7,718
80,000
10,303
-
600
-
-
-
1,100,267
1,712,094		 Incoming
resources
£
123,889
-
-
-
-
-
1,304
310
2,296
740
4,650
128,539		 Resources
expended
£
(115,720)
-
-
-
-
-
(1,200)
(310)
(623)
(740)
(2,873)
(118,593)		 Transfers
between funds
£
-
-
-
-
(10,303)
10,303
-
-
-
-
-
-		 Capital
expenditure
transfers
£
6,076
-
(2,365)
-
-
(3,711)
-
-
-
-
(6,076)
-		 Balance at 31
December
2025
£
626,072
1,001,646
5,353
80,000
-
6,592
704
-
1,673
-
1,095,968
1,722,040

Page 19

Docusign Envelope ID: 0483F9AA-A507-88F0-8117-6351F071D802

Land of Joy

Detailed Statement of Financial Activities for the Period from 1 November 2024 to 31 December 2025

Income and Endowments from:
Donations and legacies (analysed below)
Charitable activities (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2025
£
107,446
21,093
128,539
(118,593)
(118,593)
9,946
9,946
1,712,094
1,722,040		 Total
2024
£
107,687
14,260
121,947
(105,664)
(105,664)
16,283
16,283
1,695,811
1,712,094

This page does not form part of the statutory financial statements. Page 20

Docusign Envelope ID: 0483F9AA-A507-88F0-8117-6351F071D802

Land of Joy

Detailed Statement of Financial Activities for the Period from 1 November 2024 to 31 December 2025

Donations and legacies
Donations
Donations
Gift Aid Received
Retreat Donations
Grants receivable
Grants receivable
Charitable activities
Renewable Heat Incentive
Raising funds
Depreciation of fixtures and fittings
Depreciation of fixtures and fittings
Depreciation of Retreat Huts
Depreciation of Rennovations
Volunteer expenses
Rent and rates
Light, heat and power
Insurance
Repairs and maintenance
Repairs and maintenance
Grounds and Gardens
Retreat Expenses
Trade subscriptions
Charitable donations
Accountancy fees
Bank charges
Office expenses
Motor expenses
Bank interest payable		 Total
2025
£
4,650
26,241
11,647
64,168
-
740
107,446
21,093
21,093
-
(6,355)
(5,746)
(7,772)
(19,709)
(3,059)
(25,565)
(6,236)
(2,873)
(18,017)
(1,693)
(12,832)
(2,286)
(1,307)
(1,873)
(963)
(2,626)
(2,412)
2,731
(118,593)		 Total
2024
£
-
26,225
8,942
68,366
3,000
1,154
107,687
14,260
14,260
(1,929)
(2,818)
(4,666)
(4,233)
(18,076)
(3,072)
(23,730)
(4,958)
(2,400)
(24,722)
(1,887)
(7,062)
(1,539)
(753)
(1,610)
(1,374)
(2,088)
(1,136)
2,389
(105,664)

This page does not form part of the statutory financial statements. Page 21