Charlty r•gl•tratl¢n nUM￿r 1144385 Company reglstratlon number 07588301 (England •nd Walvl MINSTERACRES RETREAT CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ## **MINSTERACRES RETREAT CENTRE** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|C Morgan|| |---|---|---| ||J Darlington|| ||Rev F Keevins|| ||S Collins|(Appointed 31 May 2023)| ||B Kelly|(Appointed 30 June 2023)| ||Rev M White|(Appointed 1 September| |||2023)| |**Charity number**|1144385|| |**Company number**|07588301|| |**Registered office**|Minsteracres|| ||Consett|| ||County Durham|| ||DH8 9RT|| |**Independent examiner**|Simon Brown BA ACA DChA|| ||Azets Audit Services|| ||Bulman House|| ||Regent Centre|| ||Gosforth|| ||Newcastle Upon Tyne|| ||NE3 3LS|| |**Bankers**|CAF Bank Ltd|| ||25 Kings Hill Avenue|| ||West Malling|| ||Kent|| ||United Kingdom|| ||ME19 4JQ|| MINSTERACRES RETREAT CENTRE CONTENTS Pa Trustees. report ststement of trustees. responsibilities 10 Independent examinerfs report 11 statement of finandal acbvities 12-13 Statsmenl of financial position 14 Stslement of cash flows 15 Notè8 to the financial statements 16-33 MINSTERACRES RETREAT CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trusteas who arg director8 f¢¢ the purpos8s of company law. present Ihwr annual report and financial stalemonts for th& year endèd 31 December 2023. Thr* financ￿1 StateTh￿nts have beèn prgpare(1 Sn accordance w71h Ihe accounting polScles sgt out In note 1 to the financial statements and comply wlth the chariws tgoverning documentl, the Componles Act 2006 and 'A¢¢ounting and Reporting by Chariti8s'. Statemgnl of Recommended Practice applicablg to charflies preparing Ihelr ac¢ounls in s￿ordanCe with the Finandal R¢porling Standard applicable in th8 UK and Rgpubllc of Ireland IFRS 1021. (eff?ctSv8 1 January 20191. Obl•ctlv•s And a¢tlYltl The obiects of the charity as set oul in the Memorandum and Articles ofAssocl8llon are '. al The advancorngnt of the Chrislian religion in partlcular bul not 8xduslvely by tho pffjvi8Oon ol a relmt at Min51eracres, NOrthum￿rtan￿.. bl The relief of ng¢d In parti¢ular but not exdusively of substancg mlsus$rs. asylum seekers, refugees and victims of torture and thglr carers and families in particular but not exClusi￿lY in Northumberland; and cl To promot• for the benefit of the public the consorvakn. protection and improvement of tho physlcal and natural environment of Minsleratte8. MINSTERACRES RETREAT CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Our mission statement is fof Minsleracr85 to provide a space where paopl8 ¢an ftrel welcome. can be themselves and are enabled to find healing and wholenes5 in Iheir relationship with God. with themselves and with crealion. The values which underpin this derive from the ethos of The Congregab'on of the Passion, which set up the registered charity to ensure a future for Minsteraues, since rt is a plaTr much valued by Ihose who use tho seNices and space on offer. The v8lue$ adopted by Minsterscres are.. 1. To provide a comrnunity-based atmospher8 ofwelcome and hospitality with space for reflection prayer. 2. To offer a special option for thosè who find themselves, disempowered, spiritually andlor socially. and very often rind thernselves on the maigins of church or society. and 3. To relate in a responsible way to the envtronmenl with respect for crèation. In response to these values, we run an annual retreal programmè with a different theme each year as well as providing accommodation and hospitality for groups wishing to use our facilits'e5 to offer their own retreats or residential courses for purposes cornpatible with our vision and values. In pursuit of our SgD)nd value. we offer an outreach pro9ramrne for those on the margins of Church or society. This programme is run by an oulreach officer with a team of suitably qualified volunteers who faalitate respite visits of one or mor8 day5 during which participants arè 0118red confidence building and r&laxation theiapi6s to strenglhgn their resilience in their difficult daily lives. The environment at Minsteracres is very special. The House is a Grade 11 Listed building sèt in a historie garden and grounds extending lo 110 acres of shrubbery. woodland and paslure. Wrthin this space. we have two main areas of activity. the Walled garden and the Peace Garden. The Walled Garden is cared for by a team of voluntser gardeners under the dlrection of tsur Eslales and Buildings Manager. The intention is to use thÈ garden to provide Seasonal produce for use in the relreal Cent￿ to encourage low f(KKI rniles and seasonal eating. The Pe8¢e garden is used and looked after by Let's Gel Growing a separate charity which provides garden-based activities, twce a week, for their servic8 users who are mainly dementia suffereTS. Let's Get Growing help wth Min5teracres' Outreach programm8 by providing horticuliurally based activities for the Outreach participants. Allhough we are a Christian based centre our facilities are open to paople of all faiths and none who feel they need 'rne away from the pr8ssur&s of the world.. an opportunity to léavè the internet age behind. experience simply 'being" in peaceful surroundirrfJs and to reflect on what is important in their lives. Tho tnJsttses have paid due regard to guidance i$suod by thè Charity Commission in deciding what activities th8 charity should undertake. As set out within the objectives section. the charity delivers public benefit. A full èxplan8b.on of the public benefit C8n be derived from reading the achievements seclion ol the report. which fulty explains Ihe charity's activities during the year in meeting its obje¢tiv8$ arbd thus achieving public benefit. MINSTERACRES RETREAT CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The resident communty and a small numbai ol lull and part-time staff aro supported by an active team of volunteers. Dédicated teams support our Rel￿at and Outrea(th programrne developing the conlenl and then delivering thè day or residential events offered. In addition, wa have a team of hospitality and dining room volunteers dediotgd to deliverin9 an èxcellent experience to our visitors and a t88m of conseryation volunteers who Wofk in the garderis and woodland. We could not continue to operatè without our volLJnteers who gave 6929 hours ol volunteering to Minsteracres, which is equivalent tg a wage bill of £72,200.18 if converted using the National Livin9 Wage of £10.42 par hour. This is an immense contributr'on for which the Board is very grateful. We have welcorned 12 n6w volunteers dufing the year. We strive to ¢onts"nuously irnprove the training, recruilmenl and support of our volunteers and hokl "thank you. events for them durirwJ thè year. The Centra is authorised a$ an umbrella body within the Diocese of Hexham and Newcastle for Safeguardlng. An staff and volunteers are subj8et to DBS cheeks before commencing their involvement on sile. Achlevem•nts and perfornian¢• The Retr8at theme for thg year was The Saving and Tr8nsloming Power of the Cros5". Using Ihis theme we offered weekand retreats lor parishes and individuals led by Fr Emrnanuel, tha resident Rector. In addthon we offered Days of Reflect￿n. Days ol Consolation for those who hav$ experienced berèavemenl. Working Days. Main Litur9ical celebrations of Lent, Holy Week, Pentecost, Advent, Christmas and Epiphany. 3 Day walking retreat. Week long retreat exploring the spirituality ol the Norfhem Saints. Week long rètreat for indivKluals on silent retreat in association with Ihg Ignalian Spirituality Centr8. Glasgow Medjugorge fgtreat for pari5hos in the North East Various singing and medrtation retreats A¢ros$ thes events we welcomed 742 day visitors arKI 1360 residentk91 vlsltors for 3326 bed nights. Visitors welcomed to our Outreach programme are addIt￿onal and the numbers are described in the next section. We are proud of the hospitality and catering offered lo visitors. An unannounced inspection by the Environmental Health officw resulled in a S star rating which is a long running achievernent. F(x)d hygiene was commended lor safe meth<)ds to a high standard and confidence in m8nagement was high wmh due dillig8nce thecks regularly carried out and recorded. MINSTERACRES RETREAT CENTRE TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The Outreach leam had a busy 8r)d wt)ductive year. In all, 24 groups wara w8lcomed, comprising tn total 327 guests of all ages across 17 day and 7 rèsidéntial evénts. The groups included carèrs and groups from across the region, people sèeking asylum, people affected by homelessnes$ and people suifering mental or physical ill health. This outreach work is supported by our ￿treaCkn Cwdinator and a te8m of commiled and skillful volunteers. In 2023. grants were received from the Cross and PassK)n Sisltrrs, Caritas and the Comrnunity Foundation to support the outreach work. Th8 Oulreach team works closely with Let's Get Growing, a charity Working in the Peace Garden wlh dements"a sufferers. This is a valued partnership., Minsteracr8s provides the space for LGG'S work and in retum LGG cèrès for the Peace garden and provides naturè-basod activities for children, for example, foraging, collage, str)ne painting and den building. Visiting practitioners provide specialist activities for children - dium workshops and storyltrllers. This enables the children's parentslearèrs to h8ve rest and respite during their stay. For our work with adults. a day or stsy at Minsteracres provides a wam wèlcomè. hospitality, accgplance and respect. Visilors and group organi5ers from various charities have commented urK)n how their lime al Minsleracres, even just a day, has had a positive and healing Iransfomiative. impacl for them. Leaming from the gxperience of working with groups and acting on fee(Jba¢k, Minstera¢re8 has developed programmès s8nsitiv8 to the needs of people living in difficult conditrons. Thes& includ8 8 sensitive lisiening ear if required, therapleg such as massage, reflexology or reiki offered by speaalists to all adult Vlsilors and yoga and sound therapy for adults and children who stay overnight. People often appear wèary. stressed anil anxious when Ihey arrive. It is not￿eable how they respond to the warm welcome and how rèlaxed they are after Iheir therapies, enabling tham to enjoy their day or stay. Part of any visit will be creative tirne, usually in the Peace G81den, sVPPOrted by LGG. During this time. people often shale their experiences. so it can be a time of laughter or tear5 or both. Our visitors leave with something tangible, that they have made, as a reminder ol their time at Minsteraues. The feedback from the gr￿jpS is consistently positive. Sorne Feedback from evaluations.. 'Idyllic localion and house. The staff wer¢ all 8tt6ntffve and warm and did nol allow you to feél any strèss ès w8118s being knowledggabla about tha plac8. Th& tre8tmentS 8nd activiti&S W8m fabulous and èncour8g&d 8lonè time" 8$ well as inteiacting with others., IFè8dback from Props carer June 20231 A fime to ￿rt&w and rècharg8. I feel like I have a glow inside again- that Id lost, {North Tyneside Carers February 2023 'It was an incredibty amazing day one I will nol fowet. it lifted my Spffrits so much and was totally mentally uplifting. Thè reikA W8$ so h&8ling on my mind. body and spirit., INiylh Tynesido carer february 20231 'W8 havè had 8ccept8nce and love since we arrived her•. This usually not the case, people wonder what we are doAng here. (Fazeel. Newcastle Refugee carers October 20231 MINSTERACRES RETREAT CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Mèadow Well Connected . 3 May 2023 More than Grandpar•nts- 31 May 2023 Justlco First- 27 July 2023 MINSTERACRES RETREAT CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 RASPS- 9 August 2023 Newcastle Refugee Carers - 25 October 2023 R•-Con 145 of the 2011 Act. I confirm trat l am qualffied tg undertake the examination becausè l arn a mernber of Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. I have completed my examinab'on. I confimi that no matters have cofflg to my attention in connection with the examination giving mè cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2￿6 Act., or the financial ststements do not accord with those records., or the financtal statements do not ¢omply wilh the accounting requifemants of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a rnatter considered as part of an irKlependent examination,. or the financial stalements havè not been prepared in accordance with Ihe methods anil principles of thg Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing thèir accounts in accordance with th& Financial Reporting Standard applicable in the UK and Republic of l¥&laThJ IFRS 1021. I have no concems and have corne aGioss no other matters in connection with the exarnination to whi¢h attent￿n should be drawn in this report in order to enable a proper understanding of th¢ financial statgtnents to be reached. Slmon Brown BA ACA DChA A28tsAudit Services Bulman Housè Regent Cantre Go$lorth Newcastltr Upon Tyne NE3 3LS Dated.. 13-7-&?*. Azets Au¢Jrl Sarvices 15 8 trading narne of Azets Audit Services Limited. MINSTERACRES RETREAT CENTRE STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Current financSal year Unrestrlcted Rostrlcted fund$ funds 2023 2023 Total Total 2023 2022 Notes Income and endowments fro Donations and legacies Charitable activities Other trading activities Investments Other income 292,085 321,759 36,376 2,337 2.281 15,797 8,179 22,491 307,8e2 329,938 58,867 2,337 2,281 391,407 260,068 63,284 353 3,891 Total incom* 654,838 46.467 701,30S 719,003 Ex enditure Raising funds 8.017 8,017 5,090 Charitable aciivitie5 649,996 18,252 668,248 815,469 Other 14 680 680 Total expenditurg 658,693 18,252 676,945 620,559 Net {outgolng)fineomlng resoure•s before transf•rs 13,8551 28.215 24,360 98,444 Gross transfers between funds 15,797 115.7971 Net incomé lor the yearl Net movement in funds 11,942 12,418 24,360 98,444 Fund balances al 1 January 2023 547,363 231.878 779,241 680,797 Fund IMlane•s at 31 December 2023 559,305 244.296 803,601 779,241 The stalernant of financial activities includes all gains and losses recognised in tha year. All income and expènditure derivè from continuing activities. The statement of financial activitses also complies with the requirernents for an incorne and expenditure account under th6 CompanwAct 2006. 12- MINSTERACRES RETREAT CENTRE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Prforllnanclal y•ar Unr•gtrlcted R•strlcted funds lund• 2022 2022 Total 2022 Nott• Inc ndowment Donatlons and legacies Charilable activities Other trading a¢tivlties Investments Other Income 184.745 254,52S 42,8 353 3.891 206.662 5,543 20,484 391,407 260.068 63,284 353 3,891 Total In¢om• 486.314 232.689 719.003 Ex end Rai$in9 funds s.09) 5.090 Charitoblg actNiti68 591,992 23.477 615,469 Tot•1 •xpèndltur• 597,082 23.477 820.559 Nèt {outgolngWlncomlng r•¥oufc•g before transf•rg 1110.768) 209,212 98.444 Gross Iransfvrs b9fv￿en fvnds 224.898 1224,8981 Net Incom• lor tho y•arl Net rnov•m•nt In funds 114.130 115.6861 98,444 Fund balances at 1 Jar¢uary 2022 433,233 247,564 680,797 Fund balanc•s at 310oc•mb•r 2022 547,363 231.878 779,241 13- MINSTERACRES RETREAT CENTRE STATEMENT OF FINANCIAL POSITION AS Af 31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible 8ssets 16 745.016 737,016 Current as$*ts Slts¢ks Debtors Cash al bank and in hand 17 18 3.466 43,516 52,453 3,466 34,697 39.364 99.435 77,527 Creditors- amounts fallln9 du• withln one year 19 140,e501 135,3021 N¢t current assets 58.585 42,225 Totsl assèts less current liabllltlos 803,601 779.241 Incom• funds Restricted funds Unrestricted funds Designated funds General unrestricted funds 21 244.296 231,878 22 11,184 548,121 4,187 543,176 559,305 547,363 803,601 779.241 The company is entiued to the exemptign from the audit requirement contsined in section 477 of the Companiès Act 2006. for the year ended 31 December 2023. The dirgctors acknowledge thair responsibilities for complw'ng with the requirem8nts ol the Companies Act 2006 with respect to accounling re¢ords and the preparath)n of financial statements. Thè members have not required the company to obtsln an audit ol ils financial slatgments for the year in queslhm in accordance with section 476. These financial staternents have been prepared in ac￿rdance with the provislons applicabltr to companies subjed to the small companies reglme. The firsancial staternents were approved by the Trustees on Morgan Trustee Company registration number 07588301 14- MINSTERACRES RETREAT CENTRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Noto• aoh flowts from op•ratlng a¢tlvltl•s Cash gengrated from oF4ratlons 25 66.106 143.660 Investlng a¢tivltl•s Pur¢has• of tangible fixed assets Investment income receNed 155,3541 2,337 1262,4591 353 N•t ca$h u$•d In Inv•$tlng actlvltle¥ 153,017) 1262,1061 N•t c•*h u$•d In flnanclng a￿l¥ltI•0 N•t Increas?IldKr•as•} In ¢a$h and cash •qulval•nt# 13,089 1118,4461 Cash and cash equivalents at beginniNJ of year 39.364 157,810 ¢￿h and ¢o•h •qulvahnt• •t •nd of￿ar 52.453 39,364 15. MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcl8s Charlty Infermatlon Minsleracres Relreal Centre is a privat& company limited by guarant88 incgrporated in England and Wales, and consequently does not have shaTe capitsl. Ea¢h of the tru5tee$ 1$ liable lo ¢Mlribute 8n amount not exceeding £1 towards thè assets of the charity in the event of liquidation. The registerèd offic¢ 1$ Minsteracres. Consett. County Durham, DH8 9RT. 1.1 A¢counting convention The financial statements havè bèèn prèparèd in ¥¢¢ordance wrfh Ihe charivs Igoverning documenti. the Companiès Act 21)06, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. I"FRS 102.1 and lh8 Ch5rities SORP "Accounting and Reporting by Charities.. Ststemenl of Recommended Pracli¢e 8ppli¢8ble lo charities preparing their accounls in accordance with the Financial Rèporting Standard applicable in the UK and Republic of I￿land IFRS 1021" leffeclive 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial 51aternents are prepared in sterfing, which is thg functional currency of th& charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prapared undèr Ihè historical cost convention. The principal awunting policies adopted are set out below. 1.2 Golng concèm The trustees recognise that Minsteracres Retreat Centre is currently dependanl on income (kinated from a variety of sources in order to sustain its activities, as retreat ineomè alone would FK>t allow Minsteracres to conlinue operatiThJ. The Iruslees prepared a budget and cashflow forecast lor the year Ènd have monitored perfom8n¢e against it regularfy during the year. Expenditure has been controlled and 8¢¢ordingly. the trustees are s8ti5fied that the charity continues to be a going concem at thè Ènd of thè y88r and for the foreseeable futur8. On that basis they have continued to adopt th& going con¢efn basis when preparirvJ th8 financial st8tements. 1.3 Charitable funds Unrestricted income funds are general funds that are available for use at the trustees, discretK)n in furtherance of the objectives of the charity. Designatèd fund are Unrestr￿￿￿ fvnds sel aside for specific purposes at the diSCret￿n of the trustees. Restricted income funds ar* those donatgd for use in a particular area or lor speafic purpos8S, the u88 of which is rèstricted to that area or purp958. 1.4 Income All income is Tecognised onc8 the charity has entillement to the income, it is probabl& that the income wll be received and the amount of the income receiveable can be measured reliably. Donations are rewgnised when the charity has been notsfied in writing of both the amount and settfement dale. In the evenl that a donation is subject lo conditions that requira a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not reeognised until either those conditions are fully met. or the fulfilment of those conditsons is wholly within the control of the charity and it is probable that these conditsons will be fulfilled in the reporting p81iod. 16- MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountlng pollcl•$ {Continued) Legacy gifts are recognised on a case by case basis followirrfJ the 9rant of probate whan the administratorl executor lor the eslale has communicatèd in writing both tha amount and sèttlement datè. In the event that the gift is in the fom of an assel other than cash or a financial asset traded on a recognised stock exchanga. recognition is subject to thè value ol the grft being reliably maasurable with a degree of ￿aSOnable accuracy and the lime to the asset having been transfoirad to the charity- Irwma from donated goods is measured at the fair v8luè of the goods unlèss this is impradical to measure reliably, in which case th8 value is derived from the cost to the donor or the estimated resale value. Donated facilities and service5 are recognised in the accounts when ￿ceiVed if the value can be Teliabily measured. No amounts are included for the contribution of general volunteers. Grants arè recognised when Ihe charity has an entitlement to the funds an¢J any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met. the incofflg is recogniseil as a liabilily and included on the balance sheel as deferred income to bè released. Deferred income represents amounts re￿iVed for lulure periods arKI is relèased lo ir￿ming resourc￿ in the period for which, it ha$ been received. Such income 15 only deferred when.. -Thg donor specifies that the grant or donation must only ￿ used in future aceounling periods". or -Th8 donor has imposed conditions which must be mel before the charity has unconditional gntidement. Income from other trading aclivitigslg recognised whan il is receivable and is eamed by the charty. Interest on funds held on deposit is included upon notificat￿n ol th0 5nterest paid or payable by thg bank. This is normally upon receiving Ihe bank slaiemenl from the bank. Incorne invoiced in respèct of retreat accommodation and other Servi￿ provided during tha guesvs stsy is recojnised when the accommodation and services are provided to the guest. Deposits receNed In advancg of the gutrst's stay are includsd as deferred income within other creditors. 1.5 Ex￿ndIt￿re Expenditure is recognised once thera is a legal or constructive obligation lo that expenditure, il is probable sèttlement 15 reqtjired and the amount can be measured reliably. All costs are alloacted to the applicable expendilure heading that aggre9ate similar costs to that category. Whore costs cannot be directly attributed to particular headings they have been allocaled on a basis consistent with thè use ol resources, with central staff costs allocaied on thè basis of tirne spent, and depreciation charges allocated on the portion of ihe asset's us8. Other support eosts are allocated based on the spread of staff costs. Expendilure on raising lund5 includes the costs of all fundraising 8ctivides. events. non-charitable tradiThJ adivities, and the sale of donated goods. Expenditure on charitable activitiès includes all costs incurred by a charty in undertaking activities that further its charitable aims for the benefit of its beneficiariès, including those support costs and costs relating to the governance of tho ¢harily appotboAed to charitable adiviies. Goverance costs include the costs attributable to the charlty's compliance with constitulonal and statutory quirements, including audit. strategic management and trustee's meetings and reimbursed expenses. Support costs include central functions and have been allocated to activity cost categories on a basis nsistenl with the use of resources, lor exatnpla, allocating property costs by floor areas, or per G8pila, s￿ff costs by the timè spent and olh8r costs by their usage. 17- MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢eountlng policiès Icontlnuedl 1.6 Tanglble fixed •$sèts Individual fixed assets costing £5,000 or more arg Inilially recordgd at cost. less any subsequtrrtl accumulate dèpreciation 8nd subsequent accumulaied impaiment losses. Thè carrying values ol tangible fixèd assets are rgviewed for irnpaiment in perths if events or Changes in rcumsiances indicate the carryin9 value may not be recoverable. Depreciation is recognised so as io write off lh8 ¢ost or valuation ol assets less thair residual values over their usèful lives on tho following bases.. Leasehold land and buildings Fixlurgs and fittings Computers Motor vehicles ovar 20 & 50 years straight line 15 /0 straight lin6 25°/o straight line 15% straight lin The gain or loss arising on the disposal of an asset is determined as the difference between the sale pr(￿eedS and the cawrying value of the asset, and is recognised in the statement of finanaal activrties. 1.7 Impalm)ent of flxed assets At each reporting end date, th& charity revigws the carrying amounts of its tangible assets to determine whether there ss any indNtion that those assets have suffered an impairment logs. 11 any such indication exisis, the recoverable amount of the asset is estimated in order to determine thè extent of the impairrnenl loss lil anyl. 1.8 Stocks stocks are stated at thè lower of cost and eslimaled selling price. 1.9 Cash and cash •qulval•nts Cash and cash equivalents include cash in hand. deposits held at call with banks, other shori-term liquld Investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within trN)rrowings in current liabilities. 1.10 Financlal Instrum•nts The charity has elected to apply the provisions ol Section 11 '8asic Finan¢i81 Insirumenls, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognlsed in the ch8riVs balance shtret when the charity becomes party lo the contractual prowsions of Ihe instrument. Financial assets and liabilities are offset, with th8 net amounis prgsanted in the finanual statements. when there is a legally 8nfofceable right to set off the re(x)gnised amounts and there is an intention ￿ setd& on a net basis or to realise the asset and settle the liability simultaneously. Baslc Ilnanclal assets Basi¢ financial assets, which includo debtors and cash and bank balances, are inltially measured at transadion price including transaction costs and are subsequently carri8d at amortised Cost using the affective interest method. 18- MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng poliei•$ (Continued) Bask financial Ilabllltles Basic financial liabilities, including ueditors and bank loans are int￿311Y recognised at transaction price unless the arranggment constitutes 8 financing transaction, where the d8bt instrument is measured at the p￿sent value of the futura payments discounted at a market rate of interest. Financial liabili&8s classifieil as payable wthin one year are not amortised. Debt instruments are subsequentty carried at amortised cosl. using Ihg effeclive interest rata methcKI. Trade creditors are obligations to pay for goods or services that have been acquired in tho ordinary course of operations from supplbers. Amounts payable are classified ag current liabilities il payrnent is due within one year or less. If not, they are presented as non-current liabilities. Trade Creditors are recognised initially at transaction price and subsequenlly measured at amorti5ed cost using the 8ffectivg interest method. Derncognltlon of flnan¢lal liabllltles Financial liabililies are derecognised when the charity's contractual obligations ex￿re OT a￿ discharged or cancelled. 1.11 Taxation The charity is considèred to pass th8 testg set out in Paragraph 1 Schudula 6 of the finance Act 2010 and Ihèrelore it rneetS thg dafinitK)n ol a charitable company for UK corporation tax purpose$. Accordingly. thè charity is exempl 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 Tax8tion of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitablè purposes. 1.12 Employeè b&neflts The cost ol any unused holiday entiuement is recognised in the period irb which the employee's servicos are received. Temiination benefts are iecognised immediately as an expense when the ¢harity Is demonstrably committed terminate the employment of an employee or to provid8 temination beneffits. 1.13 Retirement bènefits The charity has provided an employer pènsK)n scheme. The scheme is a defined contribution schemg. Contributions to defined contribution plans are recognised as an expense in the pariod in whiej) the related seryi¢e is provided. 1.14 L•aseg Leases arè classified as finance lease5 whenever the terms of the lease transfer substanlially 811 the risks and rewards of ownership lo the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets al the lower ol the assets fair value 8t the dale of inception and the present value of the rninirnum lease payments. The related liability is included in the statement of financial position as a finance lèase obligatson. Lease payment5 are treated as consisting of capital and interest elements. The interest is charged lo net incotnellexpendrturel fr)r the year so as to produce a constsnt periryjic rate of intèrest on the remaining balancè of the liability. Leases in which substantially all the risks and rewards of ownership are reiained by the lessor are cjassified as oparating leases. Rentals payable uder operating leases are charged in the Staternént of Financial Activities on a straight line basis over the term of the relev8nt lease. 19- MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountlng pollcl•s {Contlnu•d) 1.15 Fund structur• Unrestricted In￿m0 funds are general fvnds that are av8llabl8 for use at the trustses. discretion In furtherance ofthe objectives of the Charity. DesKJn*ed fund aro unr&strtded funds sel a$Sd8 for 8pe¢iflc purposes at the fjlscretion of tho truste8S. Reslrict¢d income funds a￿ those donaled lor use in a partlcular area or for specific PUTPOSe$. the us8 of which is rgstriGted to that aiea or PUfPO$e. Crltlcal ac¢ountlng •gtlmats8 and ludgemènts In the applicat￿n ol th& charity'8 a¢￿VnIng policiès. th& trustees are required to make judgements, estimates and a$sumplion$ about the carrying 8mount of assets and liabilitse8 that am not readily 8pparont from olhgr sourc&s. Tho eslimalgs and associat￿ assumption5 are based on hislorl¢al axperien¢è and oth8r factors that 8r• Considered lo be relevant. Actual wsults may differ from theso eslimates. The esllmaies and undgrlying as5urnplions are reviewed on an ongoing basls. Revisions to accountin9 estimal•s are recognised In the period In whl¢h Ihe e51imale Is revised whef& the revision affects onty that period, or In the perKxl of th8 revision and future perKKls where the revk¥ion ¥ffget$ both curr8nl and fuiure perths. -20- G) G> G) MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charltabl• actlvltl R•tr•at & Retroat & Youth Youth C•ntr• C•ntr• 2023 2022 Rétreat and Ywth Centre 329.938 260.068 Analysls by lund Unreslrieled funds Restri¢l¢d funds 321.759 8.179 254,525 5,543 329.938 260,068 Oth•r tradlng a¢Uvttl•s Unrnstrl¢tsd Restrlcted funds fvnds Total Unr•strlct8d R•8trf¢t•d funds nds Tolal 2023 2023 2023 2022 2022 2022 Shop income Farm subsidy and 2 dub RHI Income Prop8rty rental Income 1.546 7,220 7,220 7.146 1S.487 12,197 7.146 37,978 12,197 8,924 14.459 12.197 8,924 34,943 12.197 22,491 20.484 Other IradSThJ activitles 36.376 22,491 58.867 42.800 20.484 63.284 Inv•$lm•nts Unr•strl¢tod Unr•strlctsd funds funds 2023 2022 Intsr¢sl ￿¢81¥able 2,337 353 MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Oth•r Incom• Unr•strl¢t•d Unrnstrl¢tsd fund• fund# 2023 2022 Rairnbursed ullltl8S 2.281 3.891 Ralslng funds Unre$trl¢tsd Unrestrl¢tod lund¥ funds 2023 2022 Tradin Goods purchased for resalg Support Costs 3,480 4,537 2,742 2.348 Trading ¢OSts 8,017 5,090 8.017 5,090 -23- MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charltabl• acdvltl•$ R•troat and R•hat and Youth Youth Contro Ctrntr• 2023 2022 Staff costs Depreciation and Impairment ¢￿treach work Volunteer expensè8 Advertising Miscellaneous purchases Rates Heat & light Estste management Travelling Prfnting. postsge & ststlonery Subs¢riplions 297,960 46.672 23,282 200 6.624 101 6,600 56,654 23.078 224 10.944 3.679 264.138 37,289 24,488 309 6,162 630 6,077 68,869 22,024 1,581 8,359 3,887 F 11 Telephone & intemel Computer & so￿418 Equipment leasing Community co$t8 Repairs & renewals Cleaning & laundry 1.736 3,434 1.297 541 52.457 9.013 48,672 6.576 41.430 202 1,630 3,678 2.221 13,589 61,564 10,169 23.881 7,007 36.664 1,175 Motor expenses Insuran¢e Sundry expen$es 641.376 605.391 Share of govgmance Costs1800 nots 10) 26.872 10,078 888.248 015,469 Analy$l$ by fund Unr8$tricted funds Restrictsd funds 849.996 18.252 591,992 23.477 868.248 615,469 -24- MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 10 Support cost$ Support Govtrrnance eosts Costs 2023 Support Govèrnance costs costs 2022 Allocated support cosls 4,537 4.537 2,348 2,348 ExaminatK)n of th8 financial statements Other fees pald to examiners Legal 8nd professional Other govemance costs 3.150 3,150 2,640 2,640 2.941 18,792 1.989 2,941 18,792 1,989 2,846 2,388 2,204 2,846 2,388 2,204 4,537 26,872 31,409 10,078 12,426 Analysed be￿een Trading Charitable activf(Es 4,537 4,537 26,872 2,348 2.348 10,078 26.872 10,078 4,537 26,872 31,409 10,078 12.426 11 Net movement in funds 2023 2022 Nel movement in fijnds is stated after chargingllcreditingl Depreciation of owned tangible fixed assets Loss on disposal of tangible fixed assets Operating lease charges 46,673 680 668 37,289 4,393 12 Trustees None ol the trustees lor any persons connected with them) received any rèmuneration or benefits from thè charity during the year. No trust$as have received any reimbursed expenses OT any olhaf benefrts frorn Ihe charity during tha year. 13 Employee$ The average rnonthly number of employees during tho yèar was.. 2023 Number 2022 Numbèr Administrative siaff Management staff Direct charitable staff 10 10 Totsl 14 14 -25- MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Employ••g Icont5nu￿ Employm•nt costs 2023 2022 Wag¢$ and salaries Social security costs Other pension costs 267,576 15.337 240,063 12,884 7.069 291,257 260,016 The total employee benefits oftho koy management p•rsonn81 ofthe chartty were £54,51812022 . £46.875) In¢lud8d in other creditors are unpaid Fen$lon conth'bulions of £1.43412022- £1.2211 There ￿re no employees vthose annual remun&ration was more than £60.000. 14 Olh•r Unr￿trIc1•d fund$ Tot•1 2023 2022 Nel Iwd on dlsposal ol tamgible fixed assets 15 Taxatlon The charfty is exempl from tax on income and gain8 falling within section $05 of the Taxes Act 1988 or section 252 of the Taxalionof Chargeable Gain$Act 1992 to the exlenl that these are 8pp118d lo ils charitable objects. -26. MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR fHE YEAR ENDED 31 DECEMBER 2023 16 Tanglbh flxod assets Laa88hold F￿l￿r•S and l•nd and fft¢lngs buildlng* ComMbt•r8 Motorvghlel•B Total Cost At 1 January 2023 Additsons Disposals 976.015 15.797 36,473 39,557 8,600 9.400 1,030,488 55,354 11,700) 11,700} At 31 December 2023 991,812 76.030 8.600 7.700 1.084,142 Dgpr•cSatlon and Impalirnent At 1 January 2023 Depr¢¢iation charged In the year Ellminated in respect of disposals 248,494 39,823 31.140 5,631 8.600 5.239 1,219 11,0201 293,473 46,673 11,020) At 31 D&c8mbtr 2023 288,317 36,771 8,600 5,438 339,128 Carrylng 8mount Al 31 December 2023 703,495 39,259 2,262 745,016 At 31 D8¢ember 2022 727.522 5,333 4.161 737,016 17 Stocks 2023 2022 Stock 3,466 3,466 18 D•btor¥ 2023 2022 Amounts falllng du• wlthln on• yoar. Trado dèbtors Othgr debtors Prepayments and accrued in¢om8 5.797 3.119 34,600 4.263 30,434 43.516 34,697 .27- MINSTERACRES RETREAT CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Cr•dltor8: amounts lalllng du• wlthln one year 2023 2022 Notss Other tsx81ion and social securfty Oeferrsd Income Trade ¢r8ditor8 Other creditors Accwals 5,641 5,445 12,427 1,434 15,903 4,268 10,190 14.141 1,221 5,482 20 40,850 35,302 20 D•f•rr•d In¢om• 2023 2022 Olh¢r deferred incorno 5.445 10.190 D8feTred In￿Me is Induded In the financial $tstements 88 follows: 2023 2022 Deferred Inojme is Included within.. Current liabiliti S.445 10.190 Movem8nts in the year.. Deferred incom8 at 1 January 2023 Released from previous perlods Resources deferred In the year 10,190 110,tg)1 S,825 15,82S1 10,190 Deferrsd income at 31 December 2023 10,190 The deferrod In¢omo Is deposit￿ and upfront payments for retr•8ts due to h8pp&n Sn 2024. 28- n4-