Company registration number 08124695 (England and Wales) Charity registration number 1148460 (England and Wales)
MARYGATE HOUSE HOLY ISLAND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
MARYGATE HOUSE HOLY ISLAND
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr Andrew E Duff | |
|---|---|---|
| Revd Dr Sarah A Hills | ||
| Mr Jonathan F Merrison - Chair & Treasurer | ||
| Revd Gillian H Maude | ||
| Revd Mary Taylor | ||
| Ms Faith N Brennan | ||
| Mr Mark L Wilson | (Appointed 21 March 2026) | |
| Charity number | 1148460 | |
| Company number | 08124695 | |
| Registered office | Marygate House | |
| Holy Island | ||
| Berwick upon Tweed | ||
| TD15 2SD | ||
| Independent examiner | Stuart W Allister BA CA | |
| Greaves West & Ayre | ||
| 17 Walkergate | ||
| Berwick-upon-Tweed | ||
| Northumberland | ||
| TD15 1DJ | ||
| Solicitors | T C Smith Solicitors LLP | |
| 9 Church Street | ||
| Berwick upon Tweed | ||
| Northumberland | ||
| TD15 1EF |
MARYGATE HOUSE HOLY ISLAND
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 17 |
MARYGATE HOUSE HOLY ISLAND
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charitable Company's Articles of Association, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Objectives and activities
Marygate House Holy Island (Charitable Company) aims to enable groups of people or individuals to come to Holy Island and carry out a religious, educational or cultural programme. It is also part of its remit to assist those members of staff who usually remain within the Charitable Company for up to one year and to discern where their future career path lies and to help enable them to try and achieve that goal.
Visitors are provided with full board and whatever assistance with their programme that may be required. It is not the purpose of the Charitable Company to provide accommodation for seaside holidays and great care is taken to explain this to potential visitors.
The Charitable Company owns one large building, Marygate House, and its adjoining cottage known as Elemore Cottage.
The Charitable Company makes no charge for the use of facilities or for staying at any of the properties, making it available for all, regardless of their financial situation. The Charitable Company relies solely on voluntary donations from guests and others to cover costs and running expenses.
It is normal for Marygate House to be used by individuals and groups up to its capacity of 18 people.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charitable Company should undertake.
Achievements and performance
2025 proved to be another challenging year due to staffing issues; it is welcome to report that the staff Team has now not only a Warden and Deputy Warden, but also a second Intern (the first being with us just for the Summer).
Marygate House and Elemore Cottage have both been re-pointed by a specialist in lime pointing and all previous problems resolved, making the fabric of the property completely sound (with small outstanding issues to be tackled in the Spring). This means that attention can now be focused completely on the plans for a full internal refurbishment.
The Deputy Warden appointed at the beginning of the year, though she was not able to make the job work for her (as she lives on the mainland), did bring to Marygate House a sense of style and, for a limited cost, has given the public rooms and bedrooms a welcome uplift and modernisation.
It became clear to the Trustees that accommodation for a permanent Deputy Warden would have to be found from within the accommodation in Marygate House. The upper floor of Elemore cottage, along with the downstairs kitchen, was therefore made into a self-contained flat. This allowed the Trustees to widen the field for recruitment. The downstairs, ensuite room, along with the laundry, both in Elemore cottage, continue to be used for guest accommodation and cleaning and storage purposes. This has meant a reduction in bedrooms for guests from 9 to 8.
Despite this, once again, there has been a nearly 20% increase in guest-nights over 2025 with, again, an increase in donations received.
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MARYGATE HOUSE HOLY ISLAND
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025
Plans for the future
Chell Perkins was appointed as the Fund Raising specialists for the next phase of redevelopment of Marygate House. It is estimated that £60,000 will be needed to draw up feasibility studies; this first sum of money will need to be raised ‘in house’ from the generosity of guests and those people who feel a past and current connection with this place. We have over £30,000 of this raised already and in January 2026, we will be contacting surveyors to gain a more exact quotation for the amount of money this stage will need. Once this stage is completed, the Fund Raisers have highlighted larger funding bodies to be approached for the larger sum to be raised.
It is part of the remit of the Intern to strengthen links with the Community of the Cross of Nails; the staff are intending to make a visit to Coventry in the quiet of the Winter season.
The presence of Marygate House on Social Media, Instagram and Facebook, has continued to grow and, with a more accessible website, Marygate House is becoming more widely known; both enquiries and bookings continue to increase (the House is fully booked for much of March to the end of October already).
The Trustees continue to have confidence that the changes having been made over the last three years have set a sustainable course for the future of Marygate House.
Financial review
The Charitable Company is non-profit making. There is no fixed charge for accommodation of guests. Income is derived from donations and covenants, with a small amount from the sale of pamphlets. The Trustees acknowledge the generosity of those who stay, resulting in healthy bank balances. The attached financial statements show the current state of the finances which the Trustees consider to be satisfactory.
Reserves policy
The Trustees have reviewed the reserves of the Charitable Company, in the light of the nature of the income and expenditure streams and consider them enough to meet current and future requirements.
It is the policy of the Charitable Company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charitable Company’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Risks
The Trustees has assessed the major risks to which the Charitable Company is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
Trustees
There were no resignations in this year. Mark Wilson, whose background is in education, joined the Trustees. He has already made an invaluable contribution with his knowledge of policy compliance, among other issues.
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MARYGATE HOUSE HOLY ISLAND
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025
Staffing
At the end of January, Gary Richardson left the post of Deputy Warden. The intention was to replace him with two Deputy Wardens, probably from the mainland, to give extra staffing cover and more staff hours. This plan did not prove successful as the Trustees were not able to appoint two people. Jenny came to join the Team at the beginning of February but left at the beginning of April. As a second person hadn’t been appointed and due to the tides, the Warden was needed to work throughout the time guests were in the House.
More successfully, an Administrator was appointed. Amanda has brought to the administration of the office greater order and revised systems, particularly in relation to bookings. In addition, she has given Marygate House a simple, stylish website. It was with deep regret the Trustees received the news that she wished, in early November, to step back from all Administration roles and concentrate on her creative talent (from which Marygate House has also benefitted). At present, the Warden has taken on the Administration as this is a critical time in our fundraising efforts; the Administrator will need to track likely donors from the information gleaned from booking forms and enquiries.
At the beginning of July, a full time Deputy Warden, Catherine, was appointed and moved into Elemore cottage. Arriving at the busiest time of the year, she settled in quickly and is a huge asset to the House and Team here.
In the Summer, an Intern was appointed, jointly with the Parish Church. Tom worked for 2 months and greatly valued his time here. In November, Rachael, our first year-long Intern was appointed. Interns spend 20 hours of their week with the work of Marygate House and 15 hours in Parish activities. Marygate House offers accommodation and board, with the Parish giving a small stipend on which to live.
Public Benefit
Throughout this report the Trustees have sought to highlight those activities undertaken by the Charitable Company in furtherance of its charitable objectives for the public benefit. The Charitable Company continually considers its activities and policies with particular regard to the public benefit guidance published by the Charity Commission in the Charities Act 2011.
Structure, governance and management
Marygate House Holy Island was incorporated on 29 June 2012.
The Charitable Company is a company limited by guarantee, having no share capital and solely charitable objectives. It is governed by it's Memorandum and Articles of Association.
The Trustees, who are also the directors for the purpose of company law, and who served during the year were:
Mr Andrew E Duff Revd Dr Sarah A Hills Mr Jonathan F Merrison - Chair & Treasurer Revd Gillian H Maude Revd Mary Taylor Ms Faith N Brennan Mr Mark L Wilson (Appointed 21 March 2026)
The Articles of Association provides for a minimum of six Trustees. Where there is a requirement for new Trustees, these would be identified and appointed by ordinary resolution. The Chair of Trustees is responsible for the induction of any new Trustee which involves awareness of a Trustee's responsibilities, the governing document, administrative procedures, the history and philosophical approach of the Charitable Company. A new Trustee would receive copies of the previous year's annual report and accounts.
None of the Trustees has any beneficial interest in the Charitable Company. All of the Trustees are members of the Charitable Company and guarantee to contribute £1 in the event of a winding up.
There were no resignations in this year. Mark Wilson, whose background is in education, joined the Trustees. He has already made an invaluable contribution with his knowledge of policy compliance, among other issues.
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MARYGATE HOUSE HOLY ISLAND
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025
The Charitable Company works closely with St. Mary's Church, Holy Island with regard to the sale of publications.
Statement of Trustees' responsibilities
The Trustees, who are also the directors of Marygate House Holy Island for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these accounts, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the accounts comply with the Companies Act 2006. 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 irregularities.
Exemptions
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
The Trustees' report was approved by the Board of Trustees.
Mr Jonathan F Merrison - Chair & Treasurer
Dated: 26 March 2026
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MARYGATE HOUSE HOLY ISLAND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF MARYGATE HOUSE HOLY ISLAND
I report to the Trustees on my examination of the financial statements of Marygate House Holy Island (the Charitable Company) for the year ended 31 December 2025.
Responsibilities and basis of report
As the Trustees of the Charitable Company (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the Charitable Company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charitable Company’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the Charitable Company as required by section 386 of the Companies Act 2006.
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Stuart W Allister BA CA
Greaves West & Ayre Chartered Accountants & Statutory Auditors 17 Walkergate Berwick-upon-Tweed Northumberland TD15 1DJ
Dated: 26 March 2026
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MARYGATE HOUSE HOLY ISLAND
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
| Unrestricted Unrestricted funds funds general designated 2025 2025 Notes £ £ Income from: Donations and legacies 3 196,222 - Investments 4 1,544 242 Total income 197,766 242 Expenditure on: Charitable activities 5 172,421 6,575 Net incoming resources before transfers 25,345 (6,333) Gross transfers between funds 906 (906) Net movement in funds 26,251 (7,239) Fund balances at 1 January 2025 24,754 75,069 Fund balances at 31 December 2025 51,005 67,830 |
Total Unrestricted Unrestricted Restricted funds funds funds general designated 2025 2024 2024 2024 £ £ £ £ 196,222 144,238 - 22,335 1,786 1,110 97 - 198,008 145,348 97 22,335 178,996 140,729 2,570 22,335 19,012 4,619 (2,473) - - - - - 19,012 4,619 (2,473) - 99,823 20,135 77,542 - 118,835 24,754 75,069 - |
Total 2024 £ 166,573 1,207 |
|---|---|---|
| 167,780 | ||
| 165,634 | ||
| 2,146 - |
||
| 2,146 97,677 |
||
| 99,823 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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MARYGATE HOUSE HOLY ISLAND
BALANCE SHEET
AS AT 31 DECEMBER 2025
| Notes Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 13 Net assets The funds of the Charitable Company Unrestricted funds - general 17 Unrestricted funds - designated 16 |
2025 £ 19,740 75,425 95,165 (42,861) |
£ 68,297 52,304 120,601 (1,766) 118,835 51,005 67,830 118,835 |
2024 £ 16,080 46,648 62,728 (24,372) |
£ 68,446 38,356 106,802 (6,979) 99,823 24,754 75,069 99,823 |
|---|---|---|---|---|
The Charitable Company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2025.
The directors acknowledge their responsibilities for ensuring that the Charitable Company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the Charitable Company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Charitable Company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 26 March 2026
Mr Jonathan F Merrison - Chair & Treasurer
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MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1 Accounting policies
Charity information
Marygate House Holy Island is a private company limited by guarantee incorporated in England and Wales. The registered office is Marygate House, Holy Island, Berwick upon Tweed, TD15 2SD.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charitable Company's Articles of Association, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The Charitable Company is a Public Benefit Entity as defined by FRS 102.
The Charitable Company has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the Charitable Company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Incoming resources
Income is recognised when the Charitable Company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charitable Company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants receivable are recognised in the Statement of Financial Activities in full in the year which they become receivable, that is when the conditions for receipt have been met.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
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MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
1 Accounting policies
(Continued)
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Resources expended are allocated to direct charitable expenditure, costs of generating funds and governance costs under the appropriate headings.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Nil Property improvements 10% Straight Line Fixtures, fittings & equipment 25% Straight Line Website design 25% Straight Line
Although Accounting Standards require the annual depreciation of fixed assets, there is no provision in the financial statements for depreciation of Freehold land and buildings. The buildings are maintained to a high standard to prevent deterioration. The estimated residual value of the buildings are, at current prices, not less than their book value. The Trustees therefore believe that the policy of not providing depreciation is necessary for the accounts to give a true and fair view. The freehold property is held on furtherance of the Charitable Company's objectives and not as an investment.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the Charitable Company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
1 Accounting policies
(Continued)
1.9 Financial instruments
The Charitable Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charitable Company's balance sheet when the Charitable Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment 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 subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charitable Company’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charitable Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
2 Critical accounting estimates and judgements
In the application of the Charitable Company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted Restricted funds funds 2025 2025 £ £ Donations and gifts - - General donations 177,588 - Other 18,634 - 196,222 - |
Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ - - 22,335 177,588 132,006 - 18,634 12,232 - 196,222 144,238 22,335 |
Total 2024 £ 22,335 132,006 12,232 |
|---|---|---|
| 166,573 |
4 Investments
| Unrestricted Unrestricted funds funds general designated £ £ Interest receivable 1,544 242 For the year ended 31 December 2024 1,110 97 |
Total 2025 £ 1,786 |
Total 2024 £ 1,207 |
|---|---|---|
| 1,207 |
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MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
5 Charitable activities
| Charitable activities Staff costs Depreciation £ £ £ Staff costs - 41,179 - Depreciation and impairment - - 2,771 Sundries 2,451 - - Legal and professional 63 - - Independent examination costs 6,581 - - General running expenses 25,536 - - Heating and lighting 11,472 - - Council tax and water charges 2,175 - - Repairs, renewals and equipment 59,844 - - Secretarial fees 6,904 - - Insurance 3,114 - - Rent 6,630 - - Refuse collection 2,828 - - Advertising 1,871 - - Postage and stationery 389 - - Telephone 140 - - Computer costs 625 - - Other charitable expenditure 4,423 - - Bank charges - 135,046 41,179 2,771 Analysis by fund Unrestricted funds - general 131,242 41,179 - Unrestricted funds - designated 3,804 - 2,771 135,046 41,179 2,771 For the year ended 31 December 2024 Unrestricted funds - general 101,031 39,698 - Unrestricted funds - designated - - 2,570 Restricted funds 22,335 - - 123,366 39,698 2,570 6 Net movement in funds The net movement in funds is stated after charging/(crediting): Depreciation of owned tangible fixed assets |
Total 2025 £ 41,179 2,771 2,451 63 6,581 25,536 11,472 2,175 59,844 6,904 3,114 6,630 2,828 1,871 389 140 625 4,423 - 178,996 172,421 6,575 178,996 2025 £ 2,771 |
Total 2024 £ 39,698 2,570 979 4,963 5,384 16,835 16,417 1,778 65,792 - 3,070 2,800 3,029 810 341 323 565 367 (87) 165,634 140,729 2,570 22,335 165,634 2024 £ 2,570 |
|---|---|---|
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MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
7 Trustees
None of the Trustees (or any persons connected with them) received any remuneration during the year (2024: None).
8 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Other pension costs |
2025 Number 2 2025 £ 40,392 787 41,179 |
2024 Number 2 |
|---|---|---|
| 2024 £ 39,212 486 |
||
| 39,698 |
The total wages expense for the year was £40,392 (2024: £39,212) and no employees received emoluments greater than £60,000 (2024: Nil).
9 Taxation
The Charitable Company is exempt from Corporation Tax and is not registered for Value Added Tax.
10 Tangible fixed assets
| Cost At 1 January 2025 Additions At 31 December 2025 Depreciation and impairment At 1 January 2025 Depreciation charged in the year At 31 December 2025 Carrying amount At 31 December 2025 At 31 December 2024 |
Land and buildings Property improvements Fixtures, fittings & equipment £ £ £ 63,672 61,763 18,339 - - 1,620 63,672 61,763 19,959 - 58,072 17,256 - 2,098 637 - 60,170 17,893 63,672 1,593 2,066 63,672 3,691 1,083 |
Website design £ - 1,002 1,002 - 36 36 966 - |
Total £ 143,774 2,622 |
|---|---|---|---|
| 146,396 | |||
| 75,328 2,771 |
|||
| 78,099 | |||
| 68,297 | |||
| 68,446 |
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MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
| 11 Debtors Amounts falling due within one year: Trade debtors 12 Creditors: amounts falling due within one year Notes Bank loans 14 Other creditors Accruals and deferred income 13 Creditors: amounts falling due after more than one year Notes Bank loans 14 14 Loans and overdrafts Bank loans Payable within one year Payable after one year |
2025 £ 19,740 2025 £ 17,213 950 24,698 42,861 2025 £ 1,766 2025 £ 18,979 17,213 1,766 |
2024 £ 16,080 |
|---|---|---|
| 2024 £ 17,085 4,373 2,914 |
||
| 24,372 | ||
| 2024 £ 6,979 |
||
| 2024 £ 24,064 |
||
| 17,085 6,979 |
15 Retirement benefit schemes
Defined contribution schemes
The Charitable Company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charitable Company in an independently administered fund.
The charge to income and expenditure in respect of defined contribution schemes was £787 (2024: £486).
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MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
16 Unrestricted funds - designated
These are designated funds which are material to the Charitable Company's activities made up as follows:
| At 1 January | Incoming | Resources | Transfers | At 31 | |
|---|---|---|---|---|---|
| 2025 | resources | expended | December | ||
| 2025 | |||||
| £ | £ | £ | £ | £ | |
| Building Maintenance Fund | 3,426 | 242 | - | (906) | 2,762 |
| Fixed Asset Fund | 67,839 | - | (2,771) | - | 65,068 |
| Elizabeth Barrie Fund | 3,804 | - | (3,804) | - | - |
| 75,069 | 242 | (6,575) | (906) | 67,830 | |
| Previous year: | At 1 January | Incoming | Resources | Transfers | At 31 |
| 2024 | resources | expended | December | ||
| 2024 | |||||
| £ | £ | £ | £ | £ | |
| Building Maintenance Fund | 3,329 | 97 | - | - | 3,426 |
| Fixed Asset Fund | 70,409 | - | (2,570) | - | 67,839 |
| Elizabeth Barrie Fund | 3,804 | - | - | - | 3,804 |
| 77,542 | 97 | (2,570) | - | 75,069 |
The Designated Building Maintenance Fund was created to account for ongoing property improvements and maintenance. The transfer of £906 from the Designated Building Maintenance Fund to Unrestricted General Funds has been carried out in order to realign the fund balance at the year end, following some of the Charitable Company's repairs and maintenance costs being met from Unrestricted General Funds in prior years.
The Designated Fixed Asset Fund has been created to account for changes in the fixed assets of the Charitable Company and associated depreciation charges.
The Elizabeth Barrie Fund was set up in 2017 from a donation made by Dr K Butterworth in memory of the late Elizabeth Barrie, who volunteered at St Mary's House. During the year, the Trustees decided to utilise the remaining fund balance to assist with the ongoing repair and maintenance costs of Marygate House and Elermore Cottage.
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MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
17 Unrestricted funds
The unrestricted funds of the Charitable Company comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.
| At 1 January | At 1 January | Incoming | Incoming | Resources |
Transfers | At 31 | |
|---|---|---|---|---|---|---|---|
| 2025 | resources | expended | December | ||||
| 2025 | |||||||
| £ | £ | £ | £ | £ | |||
| General funds | 24,754 | 197,766 | (172,421) | 906 | 51,005 | ||
| Previous year: | At 1 January | Incoming | Resources |
Transfers | At 31 | ||
| 2024 | resources | expended | December | ||||
| 2024 | |||||||
| £ | £ | £ | £ | £ | |||
| General funds | 20,135 | 145,348 | (140,729) | - | 24,754 | ||
| Analysis of net assets between funds | |||||||
| Unrestricted | Designated | Total | |||||
| Funds | Funds | ||||||
| £ | £ | £ | |||||
| Fund balances at 31 December 2025 are represented by: | |||||||
| Tangible assets | 3,229 | 65,068 | 68,297 | ||||
| Current assets/(liabilities) | 49,542 | 2,762 | 52,304 | ||||
| Long term liabilities | (1,766) | - | (1,766) | ||||
| 51,005 | 67,830 | 118,835 |
18 Analysis of net assets between funds
19 Operating lease commitments
At the reporting end date the Charitable Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| Within one year Between two and five years |
2025 £ 14,400 51,600 66,000 |
2024 £ - - |
|---|---|---|
| - |
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MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
20 Related party transactions
The Charitable Company works closely with St. Mary's Church, Holy Island with regard to the sale of publications. At the year end £Nil (2024: £Nil) was due to be paid to the Church for sales.
21 Indemnity Insurance
Funds of the Charitable Company have been used to provide Indemnity Insurance to protect the Charitable Company and its Trustees against the consequences of any neglect or defaults.
During the year, £3,114 (2024: £3,070) was charged to the income and expenditure account in respect of indemnity insurance.
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