Registered number: 08606484 Charity number: 1156862
THE WOODLANDS HOUSE OF PRAYER
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 7 |
| Independent examiner's report | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 - 11 |
| Notes to the financial statements | 12 - 26 |
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
| Trustees | A Bensley, Chair |
|---|---|
| M Tanner, Trustee | |
| T Boaden, Trustee | |
| A Johnson, Trustee | |
| S Searle, Trustee | |
| Company registered number 08606484 Charity registered number 1156862 Registered office Griffin Chartered Accountants Courtenay House Pynes Hill Exeter Devon EX2 5AZ Company secretary A Bensley Key management personnel Rachel Oates (Charity Manager) Accountants Griffin Chartered Accountants Courtenay House Pynes Hill Exeter EX2 5AZ Bankers National Westminster Bank 48 Courtenay Street Newton Abbot TQ12 2EE Solicitors Anthony Collins (formerly Geldards) 134 Edmund Street Birmingham B3 2ES |
Page 1
THE WOODLANDS HOUSE OF PRAYER
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report together with the financial statements of the The Woodlands House of Prayer for the 1 April 2022 to 31 March 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. The Charity's Aims and Main Objectives for 2022/23
Woodlands House of Prayer is a Christian charity rooted in prayer, committed to helping those in need of rest and restoration find new strength and hope through reconnecting with God, each other, and nature.
We long for people to ‘Be Restored’: through faith, fellowship and nature.
This can broadly be described as Christian well-being.
2022-23 has continued to be a transitional period for Woodlands House of Prayer (WHoP). The charity’s main objective for 2022-23 has been to develop and establish the renewed vision for the future after the sale of its long-term home of Brunel Manor in 2021. This has largely been completed during this period as described below.
After nearly two years of searching for new premises from which to re-establish a new outworking of WHoPs vision, it became apparent that with rising property prices the charity did not have the financial resources to purchase a suitable property. Prompted by and in agreement with the Members of the charity a deadline was set of 5th June after which, if a suitable property had not been found the charity would cease searching for new premises. Instead, WHoP would actively look for a like-minded charity that we could support with our resources ideally through partnering in some form
.
The 6th of June deadline passed without finding a suitable property, and so a search was made for similar charities running Christian centres in the southwest of England. The closest match to WHoP was found to be Lee Abbey located near Lynton in north Devon. Lee Abbey was approached and indicated their willingness to develop a collaboration between the two charities.
An Extraordinary General Meeting was held in July 2022 at which it was agreed by the Members of the charity to seek to partner with Lee Abbey through the provision of:
-
A bursary fund to assist the financially disadvantaged to visit Lee Abbey,
-
Grants towards capital projects to improve the facilities at Lee Abbey (through for example – energy saving measures such as the provision of solar panels, and/or improvements to accessibility for the less mobile)
These two aims were considered to fit well with WHoP’s charitable objects. Many who most need to get away and experience physical and spiritual rest and refreshment are those least able to afford it, providing a bursary to give financial assistance aligns well. Assisting with material improvements to Lee Abbey fits with WHoP’s object to maintain a home where this is provided.
Page 2
THE WOODLANDS HOUSE OF PRAYER
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Objectives and activities (continued)
It was agreed with Lee Abbey that WHoP would also look to hold a small number of in-person events at Lee Abbey each year.
Discussions were held with Lee Abbey during the autumn of 2022 and a Memorandum of Understanding was subsequently entered into by the two charities.
b. The Charity's Strategies for achieving its Stated Objectives during 2022/23
The trustees used the following strategies to achieve its stated objectives:
-
Bi-monthly video-conference meetings of the Trustees, ensuring active planning for the future.
-
Regular communication with the charity’s members and supporters to keep them appraised of the developing link with Lee Abbey.
-
Investment of the proceeds of the sale of Brunel Manor in high interest savings accounts.
-
Retention of key staff with mutually agreed reduction in hours.
-
Increased use of digital media – keeping the charity’s website up-dated to reflect its new vision for Christian Wellbeing, continuing to use Facebook and providing an online video-conference ministry programme.
-
Holding two in-person events at Lee Abbey
-
Holding an 80th Anniversary Garden Party
All the above were designed to:
-
minimise the charity’s overheads and to protect the charity’s financial assets so that the charity would be in a good position to rebuild ‘post-covid’.
-
in the absence of having a physical base for the charity, making the most of opportunities to provide spiritual and physical rest and restoration to those in need, through digital and ‘online’ platforms,
c. Significant Activities Provided Contributing to Achievement of Stated Objectives
Key activities in 2022/23 have been:
-
Development of the charity’s online reach through the use of social media and regular video-conferencing events.
-
Communication with our supporters to ensure they are kept up to date with developments.
-
Search for new premises. In total ten potential properties have been visited by the trustees and interim manager. Unfortunately, the majority of the properties visited were found to have significant drawbacks making them unsuitable for the charity’s purposes. One property was deemed to be suitable with some adaptation, and an offer was made at the end of October 2021. Due to significant interest in the property the trustees unanimously agreed that it would be an acceptable use of the charity’s resources to increase the offer made to approx. 10% over the asking price, which would still allow sufficient funds to undertake the adaptations required to the property and to restart the charity’s work. Sadly, the bid was unsuccessful and the vendor accepted a significantly higher offer.
-
Discussion with the Lee Abbey Fellowship and setting up of a Memorandum of Understanding between the two charities.
-
A summer Garden Party to celebrate the 80th Anniversary of the charity.
-
Two in-person residential events held at Lee Abbey.
Page 3
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Objectives and activities (continued)
d. Social or Programme Related Investment policies
The charity does not make social or programme related investments.
e. Grant-making policies
Historically grant-making has not been a significant part of the charity’s activities. With the new MoU between WHoP and the Lee Abbey Fellowship this is beginning to change as described in section a. financial grants will be made to Lee Abbey for the specific purposes described in the MoU (provision of a bursary fund, and grants towards capital projects).
-
A budget for the bursary fund will be agreed in advance annually with Lee Abbey. A monthly statement will be provided by Lee Abbey, and WHoP will reimburse the amount given.
-
Grant funding to Lee Abbey is expected to typically be in the form of ‘match funding’ with planned projects and grant amounts agreed in advance. Evidence of spend will be provided in the form of invoices and photographs of the works carried out.
f. Volunteers
The Charity has benefitted from the valued assistance of volunteers in organising and running the 80th Anniversary Garden Party and in supporting the residential events held at Lee Abbey.
Achievements and performance
a. Charitable Activities Undertaken
As the charity was not able to provide its historic conferencing and hospitality activities, other ways to fulfil its charitable objectives (within covid-restriction limitations) were sought. By necessity these have been limited in scope, however the benefits have been tangible:
-
Development of the charity’s website to provide resources to assist people in finding spiritual refreshment through for example guides to prayer and ‘DIY’ retreats.
-
Offer an online events programme of approximately monthly ‘Reviver Days’ offering beneficiaries the opportunity to meet virtually for spiritual refreshment.
These activities have all been offered free of charge and advertised publicly on the charity’s website and Facebook page.
The first bursaries and grants have been provided to Lee Abbey. This has enabled people on benefits to visit Lee Abbey at a 25% discount and has supported provision of measures to improve the acoustics in the Lee Abbey dining room (the room is noisy when full, making it difficult for those with hearing problems to hear and join in with conversations).
Page 4
THE WOODLANDS HOUSE OF PRAYER
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Achievements and performance (continued)
b. Factors Relevant to Achievement of Objectives
The charity has continued to adapt to new ways of working and achieving its objectives.
The charity continues to be grateful for the support offered by its network of about 350 subscribed “Friends of Brunel Manor” who have the interests of the charity at heart and who have committed to pray regularly for the charity and its future. Our supporters continue to assist the charity financially through donations and have also supported the trustees and remaining staff through many letters and emails of encouragement. We continue to receive new requests to sign up to our prayer letters and updates which are sent out regularly to keep our supporters appraised of the charity’s activities and plans for the future.
Financial review
a. Going concern
As can be seen from the accounts the proceeds from the sale of Brunel Manor have has left significant financial resources for the charity to continue its work in a re-envisioned format going forwards. For this reason, the trustees continue to adopt the going concern basis in preparing financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The existing Reserves Policy remains in force as from previous years, but will be revisited and revised once the charity has established the new basis upon which it will operate. It is anticipated that this will be undertaken in the next financial year (2023-24).
c. Principal Funding Sources
The principal funding source of the charity has historically been the fees charged to guests staying at the Centre. Having sold Brunel Manor this income no longer exists, however with the sale of the building the charity’s outgoings have reduced significantly with much lower staffing levels and costs related to owning and maintaining premises. The charity has expended from its reserves during the 2022/23 period but has also benefitted from continued donations by supporters and a significant legacy.
The proceeds of the sale of Brunel Manor have been deposited in a number of high interest savings accounts. Interest rates during 2022/23 have begun to increase.
Now that the charity has an agreed plan for the future, we will be obtaining professional investment advice as to the best way to manage the charity’s financial resources.
d. Investments
The only investment is in the trading subsidiary, Brunel Manor Limited. The investment is unlisted and all the profits are gifted to the Woodlands House of Prayer each year so it does not hold any reserves.
Page 5
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Structure, governance and management
a. Constitution
The Woodlands House of Prayer is a charitable company limited by guarantee of its members, incorporated on 11 July 2013, and governed by its memorandum and articles of association.
The Charity Commission consent and other relevant documentation are held in the charity's archive.
The Trustees continue to establish written policies and guidance for procedures.
b. Methods of appointment or election of Trustees
Persons to be considered for appointment as trustees must personally subscribe to the fundamentals identified in the governing documents. Trustees are members appointed by ordinary resolution by the members at an annual general meeting. The trustees may appoint a member as a trustee during the year, but they must resign at the next annual general meeting and seek re-appointment. Trustees are not required to retire by rotation.
c. Organisational structure and decision-making policies
The charity Trustees ensure the vision of the charity’s founders is realised in the most relevant and practical way possible to meet the needs of beneficiaries in today’s society. They give overall direction to the charity and approve policies.
The Trustees may delegate certain day to day operations of the charity to employees under the direction of a nominated trustee.
d. Policies adopted for the induction and training of Trustees
New trustee candidates are fully briefed by existing trustees as to the origins, historical evolution and current position of the charity. They are presented with relevant documents. There is a requirement that, except in exceptional circumstances, candidates attend at least two meetings prior to appointment with the aim of developing a good working relationship.
The induction policy for new trustees has been revised and adopted. This includes a skills audit.
e. Financial Risk Management
The major risks to which the charity is exposed are reviewed by the Trustees, who ensure appropriate controls are in place to provide reasonable assurance against fraud and error. All systems that are established are reviewed regularly in order to mitigate these risks. The board is also committed to keeping up to date with changing employment issues and keeping abreast of new legislation.
f. Public Benefit Statement
During 2022-23 the charity has continued to offer freely available Christian wellbeing resources on the charity’s website, and a programme of regular video-conferencing events which are offered at no cost to participants.
Page 6
THE WOODLANDS HOUSE OF PRAYER
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Concluding Remarks
The trustees continue to be totally united in the task that lies ahead and are committed to working together with the Charity manager, for the furtherance of the charity’s objects, appropriate to the needs of the charity’s beneficiaries.
Trustees' Statement as to Disclosure of Information to Auditors
As far as the trustees are aware, there is no relevant audit information of which the charitable company’s auditors are unaware and the trustees have taken all necessary steps in order to make themselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
The report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on _______ and signed on their behalf by: 13 December 2023 ................................................ A Bensley
Page 7
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023
Independent examiner's report to the Trustees of The Woodlands House of Prayer ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
Responsibilities and basis of report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Dated: 20/12/2023 Laura Waycott FCA
Griffin Chartered Accountants Courtenay House Pyness Hill Exeter EX2 5AZ
Page 8
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Other income 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 54,501 - 2,622 - 57,123 45,617 45,617 11,506 1,701,006 11,506 1,712,512 |
Restricted funds 2023 £ - - - - - - - - 6,148 - 6,148 |
Total funds 2023 £ 54,501 - 2,622 - 57,123 45,617 45,617 11,506 1,707,154 11,506 1,718,660 |
Total funds 2022 £ 16,764 3,204 4,217 19,666 43,851 78,557 78,557 (34,706) 1,741,860 (34,706) 1,707,154 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 26 form part of these financial statements.
Page 9
(A company limited by guarantee)
THE WOODLANDS HOUSE OF PRAYER
BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2023
| Note Fixed assets Investments 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
2,380 323,492 325,872 (15,315) |
2023 £ 1,408,103 1,408,103 310,557 1,718,660 1,718,660 1,718,660 6,148 1,712,512 1,718,660 |
5,814 358,060 363,874 (5,952) |
2022 £ 1,349,232 |
|---|---|---|---|---|
| 1,349,232 357,922 |
||||
| 1,707,154 | ||||
| 1,707,154 | ||||
| 1,707,154 | ||||
| 6,148 1,701,006 |
||||
| 1,707,154 |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on _______ 13 December 2023 and signed on their behalf by:
................................................
A Bensley
Page 10
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
BALANCE SHEET (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
The notes on pages 12 to 26 form part of these financial statements.
Page 11
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. General information
The Woodlands House of Prayer is a private company, limited by guarantee, domiciled in England and Wales, registration number 08606484. The registered office is Courtenay House, Pynes Hill, Exeter, England, EX2 5AZ.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Woodlands House of Prayer meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevent accounting policy.
2.2 Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
2.3 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 12
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.4 Expenditure
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 allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is provided on the following basis:
- Computer equipment 25% reducing balance
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of financial activities.
Page 13
THE WOODLANDS HOUSE OF PRAYER
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.12 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
2.14 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 14
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
3. Income from donations and legacies
| Unrestricted funds 2023 £ Donations and legacies 54,501 Unrestricted funds 2022 £ Donations and legacies 10,633 Government grants 6,111 16,744 |
Restricted funds 2023 £ - Restricted funds 2022 £ 20 - 20 |
Total funds 2023 £ 54,501 |
|---|---|---|
| Total funds 2022 £ 10,653 6,111 |
||
| 16,764 |
4. Income from charitable activities
| Hotel and Conference Unrestricted funds 2022 £ Hotel and Conference 3,204 |
Total funds 2023 £ - |
|---|---|
| Total funds 2022 £ 3,204 |
Page 15
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
5. Investment income
| Unrestricted funds 2023 £ Investment income 2,622 Unrestricted funds 2022 £ Investment income 4,217 |
Total funds 2023 £ 2,622 |
|---|---|
| Total funds 2022 £ 4,217 |
6. Other incoming resources
Total funds 2023 £
| Reception sales Board and lodging Profit on sale of fixed assets Total 2022 |
Unrestricted funds 2022 £ 95 1,698 17,873 19,666 |
Total funds 2022 £ 95 1,698 17,873 |
|---|---|---|
| 19,666 |
On 28 May 2021, the manor house was sold for £1,803,000 which resulted in a profit of £5,873. Also included in the profit on sale of fixed assets is £12,000 in relation to the sale of a minibus.
Page 16
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
7. Analysis of expenditure by activities
| Charitable activities Hotel and Conference |
Activities undertaken directly 2023 £ 45,617 Activities undertaken directly 2022 £ 78,557 |
Total funds 2023 £ 45,617 |
|---|---|---|
| Total funds 2022 £ 78,557 |
Page 17
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
7. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Other staff costs Light, heat and water Accountancy and professional fees Grounds and repairs maintenance Postage and stationery Advertising Donations Trustees and volunteer expenses Computer and telephone costs General administration Bank and interest charges |
Hotel & conference 2023 £ 12,379 190 647 8,236 2,496 592 970 12,444 4,336 2,768 141 418 45,617 |
Total funds 2023 £ 12,379 190 647 8,236 2,496 592 970 12,444 4,336 2,768 141 418 |
|---|---|---|
| 45,617 |
Page 18
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
7. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Light, heat and water Accountancy and professional fees Grounds and repairs maintenance Health and safety Motor expenses Postage and stationery Advertising Trustee's and volunteer expenses Computer and telephone costs General administration Bank charges |
Hotel & conference 2022 £ 29,600 6,784 3,556 11,178 57 566 2,485 1,128 1,101 17,741 1,537 2,824 78,557 |
Total funds 2022 £ 29,600 6,784 3,556 11,178 57 566 2,485 1,128 1,101 17,741 1,537 2,824 |
|---|---|---|
| 78,557 |
8. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £750 (2022 - £1,000) , and an accounts preparation fee of £1,000 ( 2022 - £1,500 ).
9. Staff costs
| Wages and salaries Contribution to defined contribution pension schemes |
2023 £ 11,169 1,210 12,379 |
2022 £ 28,172 1,428 |
|---|---|---|
| 29,600 |
The average number of persons employed by the Company during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Employees | 1 | 2 |
Page 19
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
9. Staff costs (continued)
No employee received remuneration amounting to more than £60,000 in either year.
The key management personnel of the charity comprise of the Key management personnel as listed on page 1. The total employee benefits of the key management personnel of the charity were £11,169 (2022 - £12,841).
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 March 2023, expenses totalling £ 3,881 were reimbursed or paid directly to 5 Trustees (2022 - £801 to 3 Trustees) .
Page 20
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
11. Tangible fixed assets
| Cost or valuation At 1 April 2022 At 31 March 2023 Depreciation At 1 April 2022 At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 Fixed asset investments Cost or valuation At 1 April 2022 Additions At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 |
Other fixed asset investments £ 1 - 1 1 1 |
Trade investments £ - 1,408,102 1,408,102 1,408,102 - |
Computer equipment £ 1,952 |
|---|---|---|---|
| 1,952 | |||
| 1,952 | |||
| 1,952 | |||
| - | |||
| - | |||
| Total £ 1 1,408,102 |
|||
| 1,408,103 | |||
| 1,408,103 | |||
| 1 |
12. Fixed asset investments
Page 21
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
13. Debtors
| Due within one year Other debtors Prepayments and accrued income |
2023 £ 2,380 - 2,380 |
2022 £ 2,196 3,618 |
|---|---|---|
| 5,814 |
14. Creditors: Amounts falling due within one year
| Trade creditors Amounts owed to trading subsidiary Other taxation and social security Other creditors Accruals and deferred income |
2023 £ 9,565 3,709 18 121 1,902 15,315 |
2022 £ 464 3,709 - - 1,779 |
|---|---|---|
| 5,952 |
Net obligations under finance lease and hire purchase contracts are secured on the asset they have funded.
Page 22
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
15. Statement of funds
Statement of funds - current year
| Statement of funds - current year | ||||
|---|---|---|---|---|
| Unrestricted funds General fund Restricted funds Garden fund Carpets and furnishings Pool building Chapel fund Hospitality fund Nominated fund Total of funds |
Balance at 1 April 2022 £ 1,701,006 20 1,563 20 1,014 2,226 1,305 6,148 1,707,154 |
Income £ 57,123 - - - - - - - 57,123 |
Expenditure £ (45,617) - - - - - - - (45,617) |
Balance at 31 March 2023 £ 1,712,512 |
| 20 1,563 20 1,014 2,226 1,305 |
||||
| 6,148 | ||||
| 1,718,660 |
Garden fund
Donations received towards garden improvements and equipment.
Carpets and furnishings
Donations were received for flooring and fixtures. The transfer is where funds have been used to purchase fixed assets and the restriction has therefore been satisfied.
Hospitality fund
Donations were received for contributions to enable people to visit the Manor who would not be able to without the support.
Pool building fund
Donations were received to be used towards renovating the pool building.
Chapel fund
Fund for plans to convert several single bedrooms in 1st Floor Woodlands Wing to create a dedicated Chapel.
Nominated fund
Restricted income recieved from multiple sources of small amounts to be used towards the upkeep of the manor.
Page 23
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
15. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General fund Restricted funds Garden fund Carpets and furnishings Pool building Chapel fund Hospitality fund Nominated fund Total of funds |
Balance at 1 April 2021 £ 1,735,732 - 1,563 20 1,014 2,226 1,305 6,128 1,741,860 |
Income £ 43,831 20 - - - - - 20 43,851 |
Expenditure £ (78,557) - - - - - - - (78,557) |
Balance at 31 March 2022 £ 1,701,006 |
|---|---|---|---|---|
| 20 1,563 20 1,014 2,226 1,305 |
||||
| 6,148 | ||||
| 1,707,154 |
Page 24
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
16. Summary of funds
Summary of funds - current year
| Balance at | ||||
|---|---|---|---|---|
| Balance at 1 | 31 March | |||
| April 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| General funds | 1,701,006 | 57,123 | (45,617) | 1,712,512 |
| Restricted funds | 6,148 | - | - | 6,148 |
| 1,707,154 | 57,123 | (45,617) | 1,718,660 | |
| Summary of funds - prior year | ||||
| Balance at | ||||
| Balance at | 31 March | |||
| 1 April 2021 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| General funds | 1,735,732 | 43,831 | (78,557) | 1,701,006 |
| Restricted funds | 6,128 | 20 | - | 6,148 |
| 1,741,860 | 43,851 | (78,557) | 1,707,154 | |
| Analysis of net assets between funds | ||||
| Analysis of net assets between funds - current year | ||||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2023 | 2023 | 2023 | ||
| £ | £ | £ | ||
| Fixed asset investments | 1 | - | 1 | |
| Trade investments | 1,408,102 | - | 1,408,102 | |
| Current assets | 319,724 | 6,148 | 325,872 | |
| Creditors due within one year | (15,315) | - | (15,315) | |
| Total | 1,712,512 | 6,148 | 1,718,660 | |
17. Analysis of net assets between funds
Page 25
THE WOODLANDS HOUSE OF PRAYER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
17. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Fixed asset investments Trade investments Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 1 1,349,231 357,726 (5,952) 1,701,006 |
Restricted funds 2022 £ - - 6,148 - 6,148 |
Total funds 2022 £ 1 1,349,231 363,874 (5,952) 1,707,154 |
|---|---|---|---|
18. Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,210 (2022 - £1,428). Contributions totalling £121 (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
19. Members' liability
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.
Page 26
SIGNATURE CERTIFICATE
REFERENCE NUMBER 106AFD49-7F2F-4CED-8C14-A208582D0B1C
TRANSACTION DETAILS DOCUMENT DETAILS Reference Number Document Name 106AFD49-7F2F-4CED-8C14-A208582D0B1C The Woodlands House of Prayer - Full Accounts 2023 Transaction Type Filename Signature Request The_Woodlands_House_of_Prayer_-_Full_Accounts_2023.pdf Sent At Pages 18/12/2023 13:24 EET 28 pages Executed At Content Type 19/12/2023 13:52 EET application/pdf Identity Method File Size email 236 KB Distribution Method Original Checksum email d4cadf2d13f15b5c9309da7f7b00236ecf5b0bdab8607a08e1a8bd9fcd3fa6ba Signed Checksum 45abf6e5fdbb51d302846b8a552d927acf824043d77ce3f0ecb2997952a1c40f
d4cadf2d13f15b5c9309da7f7b00236ecf5b0bdab8607a08e1a8bd9fcd3fa6ba
Signer Sequencing Disabled Document Passcode Disabled
SIGNERS
| SIGNER | E-SIGNATURE | EVENTS |
|---|---|---|
| Name | Status | Viewed At |
| Andrew Bensley | signed | 19/12/2023 13:50 EET |
| Multi-factor Digital Fingerprint Checksum | Identity Authenticated At | |
| andrew@brunelmanor.com | 7c6f669e9e011f97cebf92df55e6744ff10c368bc55961a2fbcaba1acea77652 | 19/12/2023 13:52 EET |
| Components | IP Address | Signed At |
| 4 | 79.123.76.146 | 19/12/2023 13:52 EET |
| Device | ||
| Microsoft Edge via Windows | ||
| Drawn Signature |
Signature Reference ID 2CD626C1 Signature Biometric Count 1
AUDITS
TIMESTAMP AUDIT 18/12/2023 13:24 EET Katy de Looze (katy@griffinaccountancy.co.uk) created document 'The_Woodlands_House_of_Prayer__Full_Accounts_2023.pdf' on Chrome via Windows from 185.253.179.97. 18/12/2023 13:24 EET Andrew Bensley (andrew@brunelmanor.com) was emailed a link to sign. 19/12/2023 13:50 EET Andrew Bensley (andrew@brunelmanor.com) viewed the document on Microsoft Edge via Windows from 79.123.76.146. 19/12/2023 13:52 EET Andrew Bensley (andrew@brunelmanor.com) authenticated via email on Microsoft Edge via Windows from 79.123.76.146. 19/12/2023 13:52 EET Andrew Bensley (andrew@brunelmanor.com) signed the document on Microsoft Edge via Windows from 79.123.76.146.