Company registration number.. 07588301 Charity registration number.. 1144385 MINSTERACRES RETREAT CENTRE IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2020
Minsteracres Retreat Centre Contents Reler8nce and Administrative Details Trustees, Report 2to9 Independent Examiner's Report 10 Slalemenl ol Financial Activf(ies Slalemenl of Financial Activities 12 Balance Sheet 13 Slalgmenl of Cash Flows 14 Notes lo th¢ Financial Statements 151031
Minsteracres Retreat Centre Reference and Administrative Detalls Chairman Fr Martin John Newell Chigf Exècutive Officer Fr Martin John Newell Trustees Rèvd. P J Sherrington (resigned 31 March 20201 Mrs K M Smrth Revd. J G Hoogland Iresigned 31 January 20211 Revd. J Kearns Mrs C Morgan Mr J Oarlinglon SrA HaMmersY SKretary Fr Martin John Newell Governor Fr Martin John Newell Kgy Management Personnel Mr. G Bockell Revd J G Hoogland (resigned 31 January 20211 Prin¢lpal Office Minsteracres Consett County Durham DH8 SRT The charity is incorporated in England and Wales. Company Registration Numbor 07588301 Charity Registration Number 1144385 Bankors CAF Bank Limited Head Office Kings Hill Wesl Malling Kent ME19 4TA Ind•pendent Examlner MHA Tail Walker Bulrnan Housg Regent Centr Gosforth Newcastle upon Tyne NE3 3LS
Minsteracres Retreat Centre Trustees. Report The Iruslegs, who are diroclors for the purposes of company law, present the annual report together wrf(h the financial statements of the charitable ¢ompany for the year ended 31 December 2020. Structure* govemance and management Nature of govemlng document The charity is governed by ils Memorandum and Articles of Association dated 1 April 2011 lodged al Companies House, a copy of which tan be found online at WWN.companieshouse.gov.uk. and Constitutes a limited company, limited by guarantee. as defined by the Companiès Act 2006. It was subsequently registered as a ¢harily with Ihg Charity Commission on 21 October 2011. Recruitment and appointment of trustees Appointment of new trustèes is a maller for the boaTd identifying prospective candidates who havg an interest in Minsleracres and appropriate $ki11s to complement those already available al board levèl or lo fill any perceived deficiency a$ il arises. Early in February 2020, we were saddened by the death of Fr John Sherrington CP who had been instrumental in the creation of Minsteracres as a sgparale charty and a direclorllrustee from its inception. John is greatly missed. Inductlon and trainlng of trustees All ngw Iruslees are given copies of relevant papeNork and documentation lo ensure that they understand the conslilulion of the charity and ils activities. They are inwled to meet with the Chair of Trustees and Kgy Management Personnel. Affangem•nts for setting key management porsonnel remuneration The board, who give their lime freely and no trustees received remuneration in the year, have considered who the Key Management Personnel IKMPI of the charitable company, as noted in the Reference and Adminislralion section. Together with the board, these KMP are those in charge of directing and controlling, running and operating the aclivrf(ies of the charity on a day tD day basis. The pay of the KMP is reviewed annually and normally increased in accordance wrth average earnings. The Iruslees benchmark against pay levels of glher Charities and similar organisalions within the sector and the region. Pay levels are sel u8ing this information together with budget and forecast information, ensuring that the charitable company can afford any proposed Increases. The board then agree any uplift lo remuneration. Organlsatlonal structure Min51eracres has a small team Df 3 full time and 9 part lim8 staff who work in the areas of management, retreat adminislralion, catering, communications. household managemanl and eslale management. The senior management team consists of the R8Ctor, the Operations Manager and the Hospi(alty Manager.
Minsteracres Retreat Centre Trustees, Report Relatlonshlps with relatgd parties St Josgph's Provlnce of The Congregatlon of the Passion Ireglstergd charlty number 2344361 is the focal point of a group known as Passionisl Partners of whom Minsleracres is one. These are organisations wth which the Province works lo see the continuation of ils ministry in keeping alive the love that flows from the Passion, death and resurrection of Jesu5 Cttrisl. Objectivos and a¢tivltl•s Objeets and aims The objects of the charty as set out in the Memorandum and Articles of Association are". a} The advancement of the Christian religion in particular but not exclusivety by the provision of retreat al Minsleracres, Northumberland,. bl The lief of need in particular bul not exclusively of Substance misusers, asylum seekers, refugees and viGlims of torture and their carers and families in particular bul not exclusivèly in Northumberland., and cl To promote for the benefrt of the public the consetvation, protection and improvement of the physical and natural environment of Minsleracres.
Minsteracres Retreat Centre Trustees, Report Objectives, strategles and activlties Our mission slalemgnt is for Minsleracres lo provide a space where people can feel welcome, can be themselves and are en8bled to find healing and wholeness in their relationship with God. with 1hgrnsee$ and with creation. The v81ues which underpin this derivo from the ethos of The Congregation of the Passion. which set up the registered charity lo ensure a fLJture for Minsleracres, since it is a place mu¢h valued by those who use the services and space on offer. The Congregation is devoted lo keeping alive the bve that flows from the Passion, Death and Resurrection of Our Lord Jesus Christ by mission and by care for thcise on the margins of Church and Society. The particular values adopted by Minsleracres are.. 1. To provide a community based atmospherè of welcome and hospitality with space for reflection and prayer., 2. To offer a special option for those on the margins.. and 3. To relate in a rèsponsible way to the environment with respect for creation. In response lo these values we run an annual retreat programme with a drfferenl theme each year as well as providing accommod*ion and hospilalily for groups wishing lo use our facilities to offer their own ietreals or residential course8 for purposes compatible with our vision and values. In pursuit of our second value, we offer an outreach programme for those on the margins of Church or society. This programmg is run by an outreach officer with a team of suitably qualified volunteers who facililale respite visits of one or more days during which participants are offered conf1dence building and rfjlaxalion therapies to strengthen their resilience in their drfficull daily lives. The House is a Grade 11 Listed building sel in an historic garden and grounds extending to 110 acres of shrubbery. woodlands and pasture. Within this Spaee, we have Iwo particular areas of activity. the Walled Garden and the Peace Garden. The walled garden is home lo the deveh)ping Eco4ommunity presently with Ihiee full time members. The intention is to use the garden lo provide a conlemplalive space which can be an exemplar for sustainable limng in sympathy with God's creation and where the Eco-communily can provide nlemplalive and themed relreals. Initially. these will be non-residential bul planning permission is to be sought lo enable residgnlial retreats lo be provided in the future. The Peace Garden Is used and looked after by Let's Gel Growing a separate Charity which provides garden-based activ((ies, fvlice a week, for their sewvice users who are mainly dementia sufferers. Let's Gel Growing help with the Outreach programme by providing horticullurally based activities for the Outrèach participants. Although we are a Christian based centre our facilitiés are open to people of all faiths and none who feel they need lime away from the pressures of the woild", an opportunity lo leave the inlemel 8ge behind and experience simply 'being' in peaceful surroundings to reflect on what is important in their lThies. Fundralsing The charity is required lo report how il deals wf(h fundraising from the public. The charity does not use a professional fundraiser or commercial participator to raise funds. Any monies raised direct from the public follciws all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and eonlacl preferences of all public donors.
Mlnsteracres Retreat Centre Trustees, Report Public benefit As set out within the r)bjÈclivas section, the charity delivers public benefit. A full explanation ol the public benefit can b& derived from reading the achievements section of the r8POrt. which lully &xplains the charty's a¢livtties during the year in meeting 118 objectives and thus achieving public benefit. The trustee5 confirm that they have complied with the roquiremenls ol section 17 of the Charities Aet 2011 to have due règard lo the public benefit guidance published by the Charity Commission for England and Wales. Use of volunteèis The resident community and a small number of full and part time staff are supported by approximately 80 active volunteers. Dedicated teams support our Retreat and Outreach programme developing the content and then delwering the day or residential events offered. Most importantly, we have a team of hospilalty and dining room volunteers dedicated lo delivering an excellent experience lo our visitors. We could not continue lo tsperate without our volunteers. In 2020, our operation was severely affected by the restrictions irnposed by HMG on tho hospitality industry due lo the Covid-19 pandemic. The use of volunteers has been limited by virtue of the reduced activity bul the office kept in touch with the volunteers and Ihgr8 have been a few virtual activities lo cheer every one along until the Centre can rpened.
Minsteracres Retreat Centre Trustees. Report Achievements and performance Prior lo lockdown on 23rd March 2020, we had held 4 prayer and quiet days attendgd by 16 people and two residential groups attended by 37 people. We look the decision lo close and were only able lo open briefly between July and Odober. Prior ID opening a full Covid-19 risk assessment look place and measures wère taken lo ensure the accommodation was Covid secure for the communiiy, relrealan15 and visitors. This meant severely reducing the number of residential guesls we could accommodate lo a maximum of 21, to ensure separate bathroom facilities for each resident. For some time. the Rectoi, Fr Jeroen Hoogland had been thinking about taking a sabbatical and the lockdown period seemed the perfect lime. Fr Jeroen left in August 2020 for 6 months with the possibility of extending his sabbatical lo 12 months. During his absènce, Fr Jenish has taken on thg role of Rector, supported by Tina Martin as Community Leader. Tina has been appointed as Hospitality Manager responsible for ensuring we have sufficient v¢lunleers available for the numbers of residents and for the hospitslity offered lo them whilst her husband Pavan Martin has been appointed as Facilities Manager responsible for ensuring that room layouts and IT equipment are as required for retreats or for visiting groups. Tina and Pavan perfomi these roles as community members and are not part of the paid staff. Their service and that of Fr Jenish is much appreciated. Th• Retreat Offerlng The Retreat theme for the year was 'The God who Speaks, and wa$ delivered in February lo a group of 15 Friends of Minsleraeres. It was well received and would have been delivered on a further 4 occasions during the year bul unfortunately it was not possible owing lo the Covid-19 reslriclions. The theme will be delivered in a subsequent year 8s soon as reslriclions allow. From the 181 of September until the 31 st October we were again open fol residential relreals, bul number$ were Severely restricted lo a m8ximum of 21. During that period we held 8 residential groups providing hospitslity 10 112 guests. Thes& included a Methodist group, several yoga groups. a week long Individually Guided Retreat led by staff from the Ignalian Spirilualily Centre in Glasgow, a singing retreat led by Janel Swan, Durham University Chaplaincy and our annual Medjugorje retreat. Many of our larger and regular groups like the Salvation Army, Durham Anglican Ordinands simply cancelled due lo their concerns regarding th8 virus and the impact of restrictions on numbers, which made their retreats unviable. Retreats al Minsleracres ar& varied and focus increasingly on themes relating lo respect for the earth and creation and liwng in hamiony with all creation. The Monastery of Our Lady of Holy Hope $f(uated within the grounds at Minsteracres is home lo Mothers Monica and Regina who offer the facilty of a prNale r¢)om for gugsls lo spend a day or a few hours in solitude and prayer with acce8S to the monastic Ghapel.
Minsteracres Retreat Centre Trustees. Report Outreach Actlvltles During 2020, we were unable lo carry out the pFanned programme for oulreaeh, with the excèption of thre8 groups. In March 2020, we ho$ted two day groups.. North Tyneside Carer5, which was a new group lo us, and All Friends Together, a charity from South Shields, which works with adult$ with learning disabililie8. 8ebNeen lockdowns, during October half tem) we had a brief opportunty lo welcome back More than Grandparents Kinship Cares group from Sundertand area, with reslrict8d numbeis. and for one night rather than tsMo. During Some pleasant autumn weather we were ab lo spend lime outdoor wf(h the children in the woods and in the Peace Gartlen making apple juice from the bountiful apple crop. We also had crafts, including T-shirt Painting in the Relreat House, and 8 bonfire al the Youth Centre and film night. Conservation ofthe House and Grounds In the spring of 2020. we installed in the woodland 31 nesting boxes for a range of bird species. Each box is numbered so that rt can be located on Google Earth. We then monitored the use of the nesting boxes with the resutt that 30Q/o had been occupied in the first season. This initiative was assisted by Peter Downes of the Heritage Fund project "Land of Oak and Iron" who pul us in touch with Roland Ascroll and Tony Gibson both of whom are bird experts. They in turn liaised with the workshop managers al HMP Durham who organised a group of prisoners lo make the bird boxes. Once the boxes were delwered Roland and Tony spent a day Climbing laddars and installing the kK)xes. Last year, through the scheme known as Flexigraze, we arranged for South Park to be grazed by three Exmoor ponies to PTomote conservation grazing which in turn helps create a more diverse wildlife haljilat. This year we have arronged through the scheme for one more pony, a small floek of Sheep and three Dexler cattle. Tho grazing has bgen exlendgd over North Park because we have been able to replace two cattle grids and restore fencing lo make North Park secure for them. We are grateful to Sl Elizabeth's Parish al Minsleracres and private donors who helped with the cost of the work which included re-surfacing the private drive between the tsvo callle grids. The remainder of the drive will require attention shortly with the cost likety to be in the region of £45,000, a considerable arnounl in any year but parlicularly in a year with very little felreal aclivty. The agreement with Tynedale Horticultural Services, part of Northumberland County Council's adult services provision for people with leaming disabil(cies. is proving very beneficial for the service users and for Minsteracres. The mutual support we have been able lo provido during the Covid reslriclions has been wonderful. THS put in place measures lo enable them lo continue providing vital support lo their seryice users throughout the pandemic. Consequently, their hard work contributed lo keeping the Minsleracres gardens and estate in gcA)d condition. In the spring of 2020, we installed in the woodland 31 nesting boxes for a range ol bird species. Each box is numbered so that rt can be IDcaled on Google Earth. We then monitored the us8 of the n8sling boxes with the result that 300/0 had been Occupied in the first season. This initiative was assisted by Peter Downes of the Heri18ge Fund project "Land of Oak and Iron. who pul us in touch with Roland Ascroft and Tony Gibson both of whom are bird experts. They in turn liaised with the workshop managers al HMP Durham who organised a group of prisoner5 to make the bird boxes. Oncg the boxes were delivéred Roland and Tony spent a day Climbing ladders and installing the boxes.
Minsteracres Retreat Centre Trustees. Report Financial review Polloy on reserves The calculation of free reserve5 is based on the definrtion in the charity statement of recommended practice ISORPI, whi¢h provides recommendations for accounting and reporting for charities. The trustees have examined the requirements of the charity lo hold free reserves - those reserves not invested in tangible fixed assets. excluding long term liabilities, or designated for a particular purpose. The Trustees considered il would be appropriate lo have al least 3 months, expenditure held in reserve which would equate lo between £135k £150k. So far this has not proved possible bul il remains an objeetive. The Current levèl of free reserves held is £82.951 This was an expected due lo the imp8d of COVID-19. The expenditure associated with the maintenanc8 of an historic house and grDunds and the delivery of the OLJtreach programme is such that the operating income is fully commilled even though we work with a small number of staff. The amount expended on unrestrlcted charitable aclivrties in the year was £464,769 which was 870/0 of our total income. Governance and slaff costs amounted to £190,958 in 2020 whh means Governance and Staff costs represented around 360k of our operational costs. Prlnclpal fundlng Sources The principal sources ol funds in 2020 have been rètreat and other trading aclivty and restricted funds received as reported in Note 21 to the Financial Slalemenls. The Board would like lo record ils appreciation of the funding received which has enabled the fulfilment of MRC'S charitable objectives in the year under report with some funds having balances to carry forward bul most requiring ongoing fund raising. In 2017 we estsblished a regular giving scheme for Friends of Minsteracres and that has continued lo provide additn85 income in 2020 and offers opportunities for further growth. Golng ¢oncorn The trustees recognise that Minsteracres Retreat Centre is currently dependanl on income frgm a variety of sources in order lo sustain i($ activities, as retreat income alone would not allow Minsleracres lo continue gperaling. The Iruslees prepared a budget and cashflow foreGasl for the yoar and have monitored perfomiance against il regularly during the year. Advantage has been taken of available financial assistance through HMG Grant schemes and the Furlcsugh scheme. Expenditurè has been controlled and accordingly, the Iruslees are satisfied that the Charity continues lo be a going concern al the end of the year and for the foreseeable future. On that ba815 they have continued lo adopt the going concern basis when preparing the financial slalemenls.
Minsteracres Retreat Centre Trustees. Report statement of Trustegs. Responsibilitlgs The Iruslee8 (who aro also the diredors of Minsleracres Retreat Centre for the purposes of company lawl are responsible for preparing thè trustees, report and the financial slalemenls in a¢¢ordance with the United Kingdom Accounting Standards IUn(Éed Kingdom Generally Accepted Accounting Praclicel and applicable law and regulations. Company law requires the trustee5 to prepare financial statements for each financial year. Under ompany law the trustees musl not approve the financial statements unless they are satisfied that they give a true and fair v1ew of the slate of affairs of the charitable company and of its in¢oming rgsources and application of source5, including ils income and gxpendilure, for that period. In preparing these financial 5talemenls, the Iruslees are required lo.. Select suitable accounting policies and apply them consistently., observe the methods and principles in the Charities SORP.. makejudgemgnls and eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standard5 have been followed, subject to any material departures disclosed and explained in the financial slalemenls., and ppare the financial slalomenls on the going concern basis unless r( is inappropriate lo presume that the charitable company will continue in business. The Irus19es are responsible for keeping adequate a¢counling records that are sufficient lo show and explain the charitable Company's transactions and disclose with reasonable accuracy at any time th financial pc)Sition of the charitable company and enable them to ensure that the financial statements comply wrth the Companies Aet 2008. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregulari(ies, The annual report was approved by the Iru81ees of the charity on behalf by. nd signed on ils Mis C Morgan Trustee
Minsteracres Retreat Centre Independent Examiner's Report to the trustees of Minsteracres Retreat Centre I report to the charity Iruslees on my examination of the accounts of the chanty for the year ended 31 December 2020 which are sel out on pages 1110 31. Respectivg r8sponslbilltS9s of trust&es and examln&r As the charty's Iruslees ol Minsleracres Retreat Centre land also ils directors fgr the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'Ihe 2006 Acl'l. Having satisfied myself that the accounts ol Minsteraeres Retreat Centre are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examinalion, I report in respect of my examination of your charity's aceounls as earried out under section 145 of the Charities Act 2011 I'the 2011 Act'}. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Indgpendent examiner's statemont Since Minsleracres Retreat Centre'5 gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I conlim that l am qualrfied lo undertake the examination because l am a member of The Institute of Chartered Accounlanls in England and Wales, which is one of the listed bodies. I have completed my examination. l Gonfimi that no matters have come lo my attention in connection w(th the 9xaminalion givin9 me cause lo belie.. l. accounting records were not kept in resped of Minsleracres Retreat Centre as required by seetion 386 of the 2006 Act., or 2. the aOunt5 do not accord with those records., or 3. the accounts do not eompty with the a¢counling roquirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue 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 8CCDunling and reporting by charities lapplicable lo charities preparing their accounts in accordance with the Financial Rèporting Standard applicable in the UK and Rgpublie of Ireland IFRS 10211. I have no concems and have come aeross no olhef matters in connection with the examination lo which attention should b8 drawn in this report in order lo enable a proper understanding of the acc nts lo e reached. mon Brown BA ACA DChA The Inslilule of Chartered Accountants in En9land and Wales Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS Dale.. MHA Tait Walker is a trading name of Tail Waker LLP. 10
Minsteracres Retreat Centre Statement of Financial Activitles for the Year Ended 31 December 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unr&strict9d funds Restrlcted funds Total 2020 Total 2019 Note Income and Endowments from: Donations and legacies Charitable activf(ies Othèr trading activities Investment in¢ome Other income 334,898 54,553 39,152 115 21,S19 62,897 397,795 54,553 58,131 115 21,519 302,978 305,555 69,365 88 5.570 18,979 Total Incom& 450,237 81,876 532,113 883,556 Expendlture on: Raising funds Charitable activities 14,4481 1460,321 14,4481 525.1291 17,6431 608,539 64,808 Total Expenditure 484,7691 164,8081 529,5771 616,182 Nel lexpendilurellincome Transfers between funds {14,5321 1,180 17,068 1,160 2,536 67,374 Nel movement in funds (15,8921 18,228 2,536 67,374 Reconciliation of fund$ Total funds brought forward Total funds Garried fornard 21 514,365 214,483 232,711 728,848 661,474 498,673 731,384 728,848 All of the charty's activities derive from continuing operations during the above two periods. 11
Minsteracres Retreat Centre Comparative Statement of Financial Activities for the Year Ended 31 December 2019 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2019 Note Income and Endowment$ from.. Donations and legacies Charitable activities Other trading activities Investment income Other income 102.046 305,205 50,640 88 2.636 200,932 350 18,725 302,978 305.555 69,365 88 5,570 2,934 Total income 460,615 222,947 683,556 Expenditure on: Raising funds Charitable activities 17,6431 537,1951 17.6431 808.5391 71,3441 Total expenditure Net lexpenditurellincome Transfers between funds 1544,8381 71,3441 1616.182 184,2231 43,272 151,597 143,272 67,374 Net movement in funds 140,951) 108,325 67,374 Reconcillatlon of funds Total funds brought forward Total funds carried forward S55.3fj6 1CE,158 661.474 21 514,365 214,483 728,848 12
Minsteracres Retreat Centre {Registration number: 07588301) Balance Sheet as at 31 December 2020 2020 2019 Note Flxed assets Tangible assets Current assets Stocks Debtors Cash al bank and in hand 16 549,356 588,258 17 18 1,350 27,528 173,487 202,365 120,337 182.026 2.900 37,853 136.600 177,353 Creditors: Arnounts lalllng dug within ong ygar 19 36.763 Net curr&nt assots 140,590 Nèt assets 731,384 728,848 Funds of the charity- Restricted funds 232,711 214.483 Unrestrictèd Sn¢ome funds Unreslrieted funds 498,673 514,365 Total funds 21 731,384 728.848 For the financial year ending 31 December 2020 the charty was enlilled to exemption from audf( under section 477 of the Companiès Act 2006 relating to small companies. DirecloTS' responsibilities-. The members have not required the charity lo obtain an audit of its accounts for the year in question in accordance wf(h section 476., and The directors a¢knowledgg their responsibilities for complying with the requirements of the Act wych respect lo accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable lo companies SLtbject lo the small companies regime. The financial statemen15 on pages 11 10 31 were approved by the Iruslees, and authorised lor Issue .n&fiy¢¥l a nd signed on their beha by.. Mrg C Morgan Trustee 13
Minsteracres Retreat Centre Statement of Cash Flows for the Year Ended 31 December 2020 2020 2019 Note Cash flows from operatlng activitiès Nel cash in¢ome 2,536 67,374 Adjustments to cash flows from non-ca$h Items Depreciation Investment income 38.902 1115 41,323 34.662 1881 101,948 Working capital adjustments Deereasellincreasel in stock$ Decrease in debtors IDecreas8llincrease in creditors (Decreasellincrease in deferred income Net ¥h flows from operating activities 17 18 19 1,550 10,325 115,5091 1917 13641 88,718 8,910 1,200 36,772 200,412 Cash flows from Investing actlvltles Interest receivable and similar income Purchase of tangible fixed assets Sale of tangible fixed assets Cosh flowts from flnanclng a¢tivitie$ Repayment of capital element of finance lease8 and HP contracts 115 88 1180,910) 3,537 16 20 3,537 Net increase in cash and cash gquivalenls Cash and cash equivalents at 1 January Cash and cash equivalents a131 December All of the cash I1$ are derived from continuing operations during the above tsvo period8. 36,887 39.590 136,600 97,010 173,487 136,600 14
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 1 Charity status The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the Iruslees is liable lo contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. rhe address of its regisleied office is.. Minsleracres. Consell, County Durham, DH8 9RT 2 Ac¢ountlng poll¢l&s Summary of signlficant accounting policles an(1 key accountlng estimates Thg principal accounting policies applied in the preparation of these financial slalemenls are sel oul below. These policies have been consislen11y applied lo all the years prgsenled. unloss otherwise staled. Statement of compllanco The financial slalemenls have been prepared in accordance with Accountin9 and Reporting by ChaTilies.' Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 letteclive 1 January 20191 IChsri118s sof<P (FRS 10211, the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021. Thfjy also comply wrth the Companies Act 2006 and Charities Act 2011. Basis of prgparation Minsleracres Retreat Centre meets the defin(tion of a public b8nefrt ènlily under FRS 102. Assets and Iiabililies are initially recognised at historical cost or Ir8nsaclion value unless othenlSe stated in the relevant accounting policy notes. The accounts are presented in sterling, which is the lun¢liDnal currency of the charity. Golng concern The trustees have prepared a budget and cashflow forecast and have concluded that, even with the potential impact of COVID-19, the charity continues lo be a going con¢8rn lor the loreseeable future. On that basis they have cgnlinued lo adopt the going concern basis when preparing the financial slalemenls. 15
Minsteracres Retreat Centre Notes to the Financlal Statements for the Year Ended 31 December 2020 2 Accounting policies Icontinued} E$tSmation uncèrtalnty and ludgemenls The preparation of the financial statements requires management lo make judgements, estimates and assumptions that affect the amounts reported. There are considered to be no significant judgements (apart fr(xm those involving astimalionsl that management has madg in the procoss ol applying the enlily's accounting policies which effect the amounts recognised in the financial slatemenls. Accounting eslimale8 and assumptions are made concerning the future and, by their nature, will rarely equal the related actual ovlcome. The key assumptions and other sources ol estimation uncertainly have a signfficanl risk of causing a material adiustmenl lo the carrying amounts of assets and liabilities within the next financial year as follows,. Depreeialion is eslimaled so as lo write off the ¢gSt of an asset, less ils residual value. over the useful economic life of that asset. An estimate of the useful economic lrfe of assets is detailed in the depreciation aecounling policy Incomo and endowments All income is recognised onee the charity has entillgmenl lo the income, il is probable that the income will bè received and the amount ol the income re¢eivable can be measured reliably. Donatlons and legacles Donations are recognised when the charity has been nolrfi8d in writing of both the amount and settlement dale. In the event that a donation is subject lo conditions that require a levtsl of performance by the charity before the charty is entitled lo the funds. the income is deferred and not recognised until either those conditions arg fulty met, or the fU11ent of those conditions 1$ wholly within the Control of tho charity and rt is probable that these conditions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis followin9 the grant of probate when the adminislratorlexecutor for the eslale has communicated in writing both the amount and settlement dale. In the event that the gift is in the form of an asset other than cash or a financial asset traded on recognised stock exchange, recognition is subject lo the value of the girt being reliably measurable with a degree of reasonable aceuracy and the lille to the asset having been transferred lo the charity. Grants rg¢elvable Grants are recognised when the charity has an enlrtlemenl to the funds and any conditions link&d lo the grants have been mel. Where performance conditions are allached to the grant and are yel ID be mel, the income is reeognised as a liability and included on the balance sheet as deferred income lo be released. Defeffed income Deferred income represents amounts reived lor future periods and is Tel&ased lo incoming sources in the period for which, it has been received. Such income is only deferred when.. Tha donor specifies that the grant or donation musl only be used in future accounting periods", or Thg donor has imposed conditions which must bè mèl before the charty has unconditional enl((lement. 16
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 2 A¢¢ounting policles lcontlnugdl Gifts in kind Gifts in kind are recognised in different ways dependent on how they are uséd by the charity.. lil Those donated for resalè produce income when they are 801d. They are valued al the amount actually realised. lill Those donated for onward transmission to beneflciaries are included in Ihg Statement of Financial Aclivrties as incoming resources and resources expended when they are dislribulgd. They are valued al the amount the charity would have had to pay lo acquire them. liiil Thosg donated for use by the ¢harty itself are included when rèceivable. They are valued at the amount the charity would have had lo pay lo aequire them. Donated sen/lces ond facilitiès Income from donalod goods is measured al the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost lo the donor or th& eslimaled resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliabty measured. No amounts are included for the contribution of general volunteers. Other trading activlties Incomè from olhei trading acliviiies is recognised when it is reeeivable and is earned by the charity. Investment Income Interest on funds held on deposit is included upon notifiealion of the inl8re$t paid or payable by the bank. This is nomially upon receiving the bank slalement from the bank. haritable actlvitles Income inVoed in respect of treat accommodation and olhgr services provided during the guest's stay 1$ recognised when the accommodation and Services are provided lo the guest. Deposi(s received in advanc8 of the gugSt'$ slay are included as deferred income within other creditors. Expendlture All expenditure is reeognised once Ihert is a legal OT Gonstruclive obligation lo that expendilurg, il is probable settlement is required and the amount can be measured reliably, All costs are allocated lo the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly allribuled lo particular headings Ihgy have been allocated on 8 basis consislenl with the Use of resources, with central staff costs allocated on the basis of time spent. and depreciation charge5 allocated on the portion of the asset's use. Other support costs are allocated bosed on the spread of staff ¢osls. Raising funds Exp&ndilure on raising funds includes the costs of all fundraising activities. events. non-charilable trading acliviliès. and the sale of donated goods. Charitable actlvltlos Expenditure on charitable aclivf(ies includes all cost> incurred by a charty in undertaking activities that further ((s charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating to the goveinance of the charity apportioned lo charitable 8clivitie$. 17
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 2 Accounting policigs lcontinu) Support costs Support costs include central functions and have been allocated lo activity cost categories on a basis ¢onsistenl with the use of resources, lor example, 8llo¢aling property ¢osls by floor areas, or per Capila. staff costs by the lime spent and oth&r cgsls by their usage. Govemance costs These include the costs attributable lo the charity s compliance with conslilulional and slalulory requirements, including audit, strategic rnanagemenl and trust,$ meetings and reimbursed expenses. Govèrnment grants Government grants are recognised based on the accru81 model and are rneasured al the fair value of the asset received or receivable. Grants a classified as relating either lo revonue or to assets. Grants relating lo revenue ar& recognised in income over the period in which the related costs arè recognised. Grants relating tg assets are recognised over the expected useful life of the asset. Where part of a grant relating lo an asset Is deferred, it is recognised as deferred income. Taxatlon The charty is considered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charf(able company lor UK corporation tax purposes. Accordingly, the eharily is exempl from taxation in respo¢1 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 Acl 1992, to the extent that such income or gains are applied exclusively Its charitable purposes. Tangible flxed a$$ets Individual fixed assets costing £5,CtOO.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The carrying v8lues of tangible fixed assets are reviewed for impairment in periods if events or hanges in ¢ircums18nces indicate the carrying value may not be recov6rable. Deprgciation and amortlsation Depreciation is provided on tangible fixed asse15 so as to write off the eosl or valuation, less any estimated residual v8lue, over their expected useful economic life as lollows.. Asset ¢la$$ Depreciatlon mothod and rate Motor vehicles 1 S % slraighl line Fixtures & fittings 15DA straight line Computer equipment 25Yo straight line Property improvements over 20 & 50 years straight line Impalmient of fixed assets A review for indicators of impairment 1$ carried out al each reporting dale, with th8 recoverable amount being eslimaled where such indicators exist. Where the carrying value exceeds the rgcoverable amount, the asset is impaired accordingly. Prior impaimenls are also reviewed for possiblè reversal al each reporting dale. Stock Stock is valued at the lower of cost and eslimaled selling pri. 18
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 2 Accountlng policies Icontinuedl Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-lemi highty liquid investments that are readily convertible lo a known amount of cash and are subject lo an insignificant risk of change in value. Trade credltors Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of busin&ss from suppliers. Borrowings Interesl-bearing borrL)wing$ are initially recorded al fair value, nel of Irangaction costs. Interesl-bearing borrowings are subsèquently carried al amortised cost, with the difference between th8 proceeds, nel of transaction costs, and the amount due on redemption being recognised as a charge lo the Slalement of Financial Aclivilies over the period of the levant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest P8yablg and sirnilar charges. Borrowngs are elassified a5 current liabilities unless the charity has an uncondrtional right to defer settlement of the liability for at least twelve months after the rgporting dale. Fund structur9 Unreslricléd income funds are general funds that are available for use al the tru$lees' discrolion in furtherance of the obiecliv8s of the charity. Designated funds are unrestricted funds sel aside for specrfic purposes al the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is reslricled lo that area or purpose. Hire purchase and finance leases Pansions and other post retlr9ment obllgations The charity has provided an ernployer pension scheme. The scheme Is a defined contribution scheme. Contributions lo defined contribution plans are recognised as an expense in the peTi¢xI in which the related seryice is provided. 19
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 3 Income from donatlons and legacies Unrostricted funds Restrlcted funds Total 2020 Total 2019 General Donations lo major appeals Legacies Gift aid reclaimed Government grants Grants from other ¢har¢(ies Regular Giving Gifts in kind 40,233 6,837 47,070 54,709 42,899 5,828 1,593 86,036 1,593 86,036 36,080 227,036 36.06 20,000 162,809 27.333 9,400 207,036 334,898 62.897 397,795 302.978 Governmenl grants includes £71,733 in respect of CJRS monies claimed and £14,303 Irom Northumberland County Council. 4 Income from charltable actlvltles Unrostricted funds Total 2020 Total 2019 Gèneral Retreat and youth cenl¥e income 54,553 54,553 305,555 S Incomg from other trading activltles Unr¢strl¢t8d fund$ Re5trlcted funds Total 2020 Total 2019 General Shop income Fam subsidy and 200 club Property rental income RHI Income 1,540 8,457 14,074 15,081 39.152 1,540 8,457 14,074 34,060 12,298 10,119 13,623 33,325 18,979 18,979 58,131 69,365 20
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 6 Investment income Unrestricted funds Total 2020 Total 2019 Gon¢ral Intefesl receivable on bank deposits 115 115 88 7 Other income Unrestrlctod funds Total 2020 Total 2019 General Fees and supplies Insurance procoeds 3.429 18.090 3,429 18,090 5,570 21,519 21,519 5,570 8 Expenditur8 on ralsing fund¥ al Costs of gengrating donatlons and legacies Unrostricted funds Total 2020 Total 2019 General 200 Club Good purcha$ed for resale Allocalgd support costs 900 8,392 351 3,498 950 3,498 950 4,448 4,448 7,643 21
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 9 Expenditure on charitable activitle$ Unrestricted funds R•strlctgd funds Totsl 2020 Total 2019 General Note Retreat and Youth Cent Governance costs 452,312 8,009 64.608 517,120 8,009 595.883 12.656 10 460,321 64,808 525,129 608,539 10 Analysls of governanc• and support co$t$ Basls of allocatlon Referenco Independent examination Accounlaney fees 1000/0 ttr Governance Legal costs 1000A lo Governarice Bank and credit charges Method of allocatlon 100QA to Governance 100Yo lo Governance Governancg ¢osts Unrestricted funds Total 2020 Total 2019 General Independent examiner lees Examination of the financial statements Other fees paid lo examiners Legal fees Othèr governance cos18 2,250 2,452 2,029 1,278 8,009 2,250 2,4S2 2.029 1,278 8,009 2,200 2,722 6,191 1,543 12,656 22
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 11 Net incomingloutgolng r8sour¢es Net incoming resourcos for the year include.. 2020 2019 Operating leases- other assets Depreciation of lixed assets 6,150 36,743 6,150 34.662 12 Trustees remungratlon and expenses No trustees, nor any persons conneeted with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during th8 year. 13 Staff costs The aggregate payroll costs were as follows.. 2020 2019 Staff costs during thè year were: W4es and salaries Sgcial security costs Pension costs 173,409 6,832 2.708 211,629 10,439 2,741 224,809 182,949 The Month average number of persons lineluding senior management leaml employed by Ihg charjty duiing the year was as follows.. 2020 No 2019 No Adminislralive staff Management staff Direct charrtable staff 14 12 No employee wèived emoluments of more than £60.000 during the year. The total employee benefits of the key management personnel of the charity were £41,652 12019 £41,058). 23
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 14 Independent 8xaminerfs remuneration 2020 2019 Examination of the financial $lalemenls 2.250 2,200 Othgr fees to examlners All other seNice8 2,452 2,722 15 Taxation The charty is considered lo pass the tests sel 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 exempt from laxalion 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. 16 Tanglble fixed ossets Furnitur8 and equlpment Land and bulldings Motor vehicles Computer quipment Total Cost Al f January 2020 713,556 36,473 9,400 8,600 788,029 Al 31 Decèmber 2020 713,556 36,473 9,400 8,600 768,029 Depreclatlon Al 1 January 2020 Charge for the year Al 31 December 2020 147,124 33,801 23.038 3,691 1,009 1,410 8,600 179.771 38.902 180,925 26,729 2,419 8,600 21e,e73 Net book value Al 31 De¢gmber 2020 532,631 9,744 6,981 549,356 Al 31 December 2019 568,432 13,435 8,391 588,258 Included within the nel book value of 18nd and buildings above Is £Nil 12019 £Nill in respgcl of Ireehold land and buildings and £532,631 12019 - £566,432) in respect of leaseholds. 24
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 17 Stock 2020 2019 stock 1,350 2,900 18 Debtors 2020 2019 Trade debtors Prepayments 1,400 26.128 13.052 24,801 27,528 37,853 19 Cr8ditors: amounts falling due wlthln one year 2020 2019 Trade cred(tors Other tsxalion and social security Other cred(tors Pension scheme creditor Accruals Deferred income 3,896 3,784 88 S32 6,600 5.437 15,014 4,058 727 10,610 6,354 20.337 36,763 2020 2019 Deferred income al 1 January 2020 Resources deferred in the period Amounts released from previous periods Deferred income at year end 6,354 5,337 6,254 5,1 6,354 5,154 5,437 6,354 25
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 20 Obllgation$ undèr leases and hire purchase contracts Operatlnglgase commitments To181 future minimum 5ease payments under non4ancelIab operating leases are as follows.. 2020 2019 Othor Within one year Between one and five years 7,821 7,821 7,821 7,821 15,S42 26
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 21 Funds Balance at 31 December 2020 Balance at 1 January 2020 Incoming Resourcgs resources expended Transfers Unrestricted funds General General funds 510,708 450,237 1464,7691 11.160} 495,016 Designatgd 200 Club Bursary Fund Geneial Outreach Fund Sliategic Development 300 194 292 2,871 300 3,065 292 2,871 ,871 3,657 3,657 Total Unrestrlcted funds 514,365 450,237 1464,769} 1.160} 498,673 Restricted funds Gateshead Church Enterprises Fund Minsteracres Development Fund Dutch Passionists Solidarity Fund Sacred Heart Sister The All Churches Trust Co*OP Local Communty Fund CrDSS and Passion Sisters Changing Lwes The Passionisls Province of Sl Joseph - Green Community Drive Fund Old Laundry Total restrlcted fund5 13,531 18,979 32,510 17,335 21 {8,0161 9,340 6,635 6,217 12,000 11.058 20,004 116,7101 981 25,529 12,000 16921 4,586 2,934 770 4,586 7,934 770 5,000 20,168 8,880 123,447 20,000 6,816 {18,398} {15,5281 8,156 21,770 1,852 117,291 214,483 81,876 64,808 1.160 232,711 Total funds 728,848 S32,113 1529,577 731,384 27
Mlnsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 21 Funds {continuedl Balance at 31 December 2019 Balance at 1 January 2019 Incoming Resources resourc expended Transfers Unrastricted funds G8nernl General funds 551,964 455,199 {542,522} 46,067 510,708 Deslgnated 200 Club Bursary Fund General Outreach Fund Strategic Development 250 2,44S 1.000 1,971 19001 18061 16101 11,4951 300 194 292 2,871 231 2,871 3,352 11,3001 5.416 12,316 2,795 3,657 Total unrestri¢tod funds 555,316 460,615 1544,838 43,272 514,365 Rostrieted fund$ Gateshead Church Enterprise5 Fund Minsteraerès Development Fund Dutch Passionisls Solidarity Fund Sacred Heart Sister The All Churches Trust Cowop Local Community Fund Cross and Passion Sisters Changing Lives The Passionisls Province of Sl Joseph - Green Community The Passionisls Province of Sl Joseph 2017 Tree and Shrubs Drive Fund Old Laundry Community Foundation for HLF Wellinglon Pond The Joicey Trust HLF Woodland Trail The Passionisls Province of Sl Joseph 2018 22,154 18,725 13,4301 {23.9181 13,531 12.790 7,035 12,4901 17,335 4,335 3,170 12,000 15,DOO 18,407 112,7001 14,9101 6,635 6,217 12.000 110,4501 4,586 2,161 2,283 4.586 2,934 770 5,345 11,7011 18231 12,8711 1690) 20,168 20,168 10,557 {10,5571 3,850 6,880 126,616 13,8501 6,860 123,447 {3,1691 2,688 962 1.297 903 {2,6891 {1.1191 11,4841 157 17481 19031 935 26,272 {26,2721 28
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 21 Funds Icontinugdl Balance at 31 Dec8mber 2019 Balance at 1 January 2019 Incomlng Resources resources exponded Transfers Total restrlcted funds 106,158 222,941 (71,3441 143,272) 214,483 Total funds 661.474 683,556 616,182 728,848 The specific purposes for which the funds are lo be applied are a5 follows.. Gateshead Church Enlerpri59s Fund Tha GCE fund has been established following the conditions attached to the donation towards the biomass boiler fund. The condition stipulates that 600/0 of the RFII income receivable from the new biomass boiler should be reslricled up lo the original donation amount provided by the GCE {£190,0001. The fund can be expended in line wrth the educational charitable objects of the organisalion al any lime and once the fund has been crgdiled by £190,000, then no further conditions apply. The amount credited at 1 January 2020 lolalled £104,261 and this increased by a further £38.979 in the year lo leave the amount at the year end lolalling £123,240. Minsleracre$ Development Fund This fund relates to income from various donors in relation lo the planned refurbishment ol the Retreat House facilities. Dutch Passionisls Solidarity Fund The brought forward fund rel8les lo income received in order lo support the appoinlmenl of a consultant lo superwse the conseNation work ongoing on the land al Minsleracres. The resources received in the year are lo be used for the Outrea¢h Programme. Sacred Heart Sisters This lund relates lo a grant recewed from the Sacred Heart Sister$ which is to be used for the outreach programmg. The All Churches Trust This fund retales lo a grant received from The All Churchos Trust which is lo be used for the renovation of two disabled aceess ensuite bedrooms within the Retreat House. Co-op Local Community Fund This fund relates to a grant received from the Co-op Local Community Fund which is lo be used lo refurbish tho bathrooms within the youth cenlre. Cross and Passion Sisters This fL¢nd relates lo monie$ receiv9d from Cross and Passion Sisters which is lo be used for Ihg outreach programme. Community Foundation working with Changing Lives This fund relates lo a grant received from the Commun(¢y Foundation which is to be used to work wf(h the staff and clients of Changing Lives. 29
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 21 Funds l¢ontinuodl The Passionists Province of Sl Joseph - Green Community grant The fund relate5 to monies to help develop the green community on sile. The Drive Fund The fund relates lo donation$ received lo be used against the érive repairs. Old Laundry This fund is a grant received lo pay for the refurt)ishmenl of the Old Laundry. As there is a lease in place the for 20 years entitlement the building amortisalign will be offset the reserve until Jan 2039. 22 Analysis of net assets betwe&n funds Unrestricted funds Restricted funds General Deslgnated Total funds Tangible fixed assets Nel current asselsllliabilities) 432,065 62,951 117,291 115,420 549,356 182,028 3,657 Total net assets 495,016 3,657 232,711 731,384 Unrestricted funds Totsl funds at31 December 2019 Restricted funds Ggn¢ral Dgslgnated rangible fixed assets Nel current assèlsllliabililiesl 464,811 45,897 123,447 91,036 588,258 140,590 3,657 Total nel asset$ 51 Q,708 3.6S7 214,483 728,848 30
Minsteracres Retreat Centre Notes to the Financial Statements for the Year Ended 31 December 2020 23 Analysi8 of nèt funds At31 December 2020 At 1 January 2020 Cash flow Cash al bank and in hand 138,600 36,887 173,487 Net debt 136,600 36,887 173.487 At31 December 2019 At l January 2019 Cash flow Cash al bank and in hand Finance leases and hire purchase contracts 97,010 13,5371 39,590 3,537 136,600 Nel debt 93,473 43,127 136,600 24 Related party transactions There were no related paty transactions in the year. 31