Rydal"Hall Limited Annual Report and Consolidated Financial Statements 31 December 2022 Company regislration number: 02561024 Charity registration number- 1176419 dOdd&co Imll ACCN41G2• 2310912023 COMPANIES HOUSE A10
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Rydal Hall LimTted Contents Reference and AdmH)istrative Oetaits TnJst&s' report Trustees. responsibilitie5 in relatK)n to the ffinancial statements Independent auditor5, iepori Statement of finanaal activities Balancè sheat 10 .Chanty balant* sheet Cash fi¢)w statement 12 Note5 to ts financial ststements 13
Rydal Hall Limited Reference and Administrative Detsils Charity nam• Rydal Hall Limited Charty registration number 1176419 Company r•gistration numbef 02561024 Prineipal offiee Rydal Hall AMBLESIOE LA22 9LX Reglstered offi¢¢ . ChurL House Friargate PENRITH CA11 7XR Trustèes J Rushton (ResvJned 19 April 20221 Rev W E Sanders P N Yates The Venerable Dr R D Pratt R D Jaques N lan$ter (Reswned 1 August 20221 A 2haM Secretary R D Jaques Auditor Dodd & Co ALJit Mited FIFTEEN Rosehill Montgomery Way Rosehill Esiate CARLISLE CA1 2RW .Page1
Rydal Hall Limited Trustees. Report for the Year Ended 31 December 2022 The Trustees, vtho are directors ol the Company for purposes of ccrfnpany law, wesent their port together wilh the financial statements of the Charity forthe yèarended 31 Deternter2022. Govèrning Document Rydal Hall Limited vjas incwporaled on 21 November 1990 as a tradiro subsidiary of Carlisle DI0$an Board of Financè. It obtained charity gIstratIOn on 21 Dember 2017 {number 1176419) and started to operate 85 8 aha¥ity from 1 January 2018. The cornpany Wds estsb115hed under a MemorarKlum ol Assouation, which established the objecis aThJ power5 of the Charitable c(Thpany and is governed urvjèr its Artides of Assouation as amended on 13 December 2013. The finanoal stalements have been ppare£l in accordance wAth the acc4XFnting pIcS set oul In notes to the account5 and cotnply with th8 charity's govemiNJ documert the Chanties Act 2011 and Accounting and Reporting by Charrties. Statement of Recommended Practi apicableto chantses preparing their acctsunts in acCOr¢Jan wth the Finanaal Reporting Standard fof Smaller Entibes published on 16 July 2014. Appointrnent of DirectotsThruste•s Up to three TnJstees can be appointed by the Cadisk Dwesan Board of Finan for a three year le. Up to an additioaal five, who shall not be empbyee5 or officets of the Carfisle Diocesan Board of Finan. can be appointed by a resolution ol the Trustees. One third lor the number nearest one Ihiidl of the Tfustees appointed by resolution of the Tmstees. must retire at a meetirg calkd for Ihal purpose. A retirin9 Twstee rnay be ¥eapFK)inted. Tmstees wft, cx) a regular basis, assess the need f¢y and provide any Tnjslee training as may be required. Risk Assessment The tiuslee5 have examined the major 5trategi< business and operab.onal risks which the tharity faces and confirms that Syslems have been established to enable iegular reports to be prthyu0 so that the necessary 5tep5 can be taken to lessen these risks. Inv•$tm¢nt powers and T•stri¢tions The Trustees have the power to in¥est in suth assets a5 they see fft after 5eekiTrJ Suit expert advi ifconsidered necessary. Objectives and Aetivilies The objects ofthe ¢hanty a.. To promote and assist the of the thurch of ETrJland lor the advancement of the Christian rÈligion' in thè .0)se of Carf1s and coJnty ol Cumbna To advance the Christian relvJion by Ibutwithtyii pre11¢e to the generalty of the foregoingl.. Pro¥ing a welcome and otreat house and facilits for members of the puNic from within arKI outside the county wishing to orn about sndlor pryaCt the Chnstian relKJion". Oeveloping and promding opportunit$ tr gr(A¥th in prayer. rni5SK)n and sritUalty within the Di<)cese of Carlisle and coijnty of Cumbria. Such other exdusively charitsble.purposes actordir4J to the law ol ErglaThJ and wales Ihat the trustees in theirab$Ute dimtion dechle from *me to time. In setting objectNes of the tharty the trustees have comKlied Ihe Chanty CMiSsion guidancÉ on public. benefiL Page 2.
Rydal Hall Limited Trustees. Report for the Year Ended 31 December 2022 Achievements and Perfomion¢e Having seen a mixture of ong(Nng Cov¥J 'wave5' in 2021. the assouated restrid.ofts that came witrr them, ancj $ce periods of opening up and a retum to some elements ol'nom?alW. 2022 saw a relatitY nonnal year frorn a tradin9 perspective. However. CovNJ-19 {affeaiThJ some elements ol our traditional customer basel. Brexit Imaking hospiiality recruitment in Cumbria very challenging) and the ernerge of Ihe cost of living crisis, all made 2022 3 tovgh year in which to operate the charity. The Trustees are grateful for the de(SIG9t hard ofthe staff who c4)ntinuÈd to welcome our guests and help fvlfil the objects of the charity. 2022 saw the departu of Rydal Hall's General Manager and our thanks go to her far her hard work an¢J for steenng the charity through the Cow¢J-19 crisi8. A new General Manager was recruited in Oecembei 2022 and started work in March 2023. briThJiThJ exwentr thatvAII help wilh Rydal as it wotks its way back towards finana81 sustainability. The Tiustees continue to be gratefijl for the contributions fri)m the 'Frtends of Rydal Hall. group. both thriyJgh their support of the Rydal Community. and thr(gh many hours oftime vclunteered on site vAth wacbcal support. Rydal Hall is looking partioJlarfy ai how it can connE[e io play an aclNe part in the Diocesan 'God lor All, wsion. and seek to be 8 place ofwitsS and wekL¥ne to thosewho Msrt. 2023 wll see s(Mne new developments In this area. Financial Review The group recorded a defic4t for the year of £178.875.12021 had seen a LHrge sUlUS bth primarily as J result of tsjo major grants rec&ived during the year to aid post-pandernic iecoveryl. GTOUP income fell from £1,523.666 to £1.280.959. but taking out the large value of grants received In 2021- IncAyne rose by £334,812 - result of being open all year in 2022 and workirJ hard to strerwen ino)me.across the various aSrts Of1 charity and the Rydal Hall Estate. Chair(able activitÈes in the Hall rose to £798,247 (ftc¥n £535,475) aThJ aciiwbes in the trading sub$Kliary inueased to ' £467.943 lfvcm £397.7181. Costs increased in lin8vth thè additiona aclw. Closing resèrvès had a deficJt of£176,406, wih no restrictsd serVeS. Diocesan Support As.reported last year, the Carfisle Diocesan Board of Finants as sole sharettoFder ol the charity. Undertook a rewew ol the value of the estsle. potenfyal fvluie incorne and expenditurts. and the impact of mission and ministry carried out in and through Rydal Hall. DIcKesan Synod In March 2021. approved almost unanimously, to retsin an<J support the activities al Rydal Hall as an important part of its 'God for All. wsion. comrnitting finances lo restore the charity's reserves In 2021, and to prowde ad¢JitTonal caprtal to prtsvi¢Je a stronger future. Work has been undertaken lo prepare rive-year finantsal plans and work is well underway wth the General Managei and his Team to further develop plans to he¥) 8thiÈve tho plann&Y results and retum to an annual surplus. Fundraislng standards infomiation chanty does not hold any agreements¥Mth prOfeSsnal fvJndr8isers w cunrnerci81 partiapatots. Re5ervè$ Poliey The Chanty's SerVeS policy is to move to a wsib'on Whe it has Iree SerVeS equal to tsvo month's group expenditure which, based on 2022 exndI1Ure would be £243,306. Free reseThes at 31 De¢xmber 2022 We a deficit of £61,850. Small company provision8 This rÈport has."been prepared in acclwdance vthh the small companies rvJime under the CompaniesAct 2006. Page 3
Rydal Hall Limited Trustees, Report for the Year Ended 31 December 2022 Approved by the Boaid on 19 septemr2023 and svJned on Its behatfby. RDJ ues Page 4
Rydal Hall Limited Trustees. Responsibilities in relation to the Financial Statements Thè tnJstee5 (who are also ¢JirectOfS of Rydal Hall Lwnited for the purposes of c(xnpany law) are sponbIe for preparing the Twstees, Annual Report and the finanual slatements in ac£ordanc£ wih applieable law athy the Finanaal Reng Standard 102- The Finanryal Rewjrting Stan¢Jard applicatle in the UK ancl Repvblic of Ireland,. Company law requires the trustees to prepa financaal statements for each [anCia year whth give a true and lair iew of the state of 31faits of the thantable company and of the inming resouTr£s and application of resources, including inccThe and expendrture. of the tharitable c(xnpany for thai n(J. In eparing Ihe5e finanry815taiements, the trvstees are requi to.. Se¢t surtabk accounting pc4iues and then apply them nsIStenIty.' observè the methods and pnnuples in the Charities SORP.. make judgement5 and e5tirnates that are ¥easonabk and prudent., state whether applicAbk UK accounb.ng standards have L*en Icdlowed, SLA)jed to any rn8terial departures discJosed and explained in the finanoal statements". and prepa the f nanaal statements on the going c4)nrn basis unless tt is inapyropriate to pre5urne that the CharItae company wll continue in business. The trustees are responsible fv keepiNJ proper accountiThJ records that di5cbse ¥th sSonae acojracy at any time the financial position ol the charitable company and enable Ihem to ensure that the finanua1 siaternents comply wrth the Companies Act 20(. They are also responsib for safeguarding the assets of the charitsble company and hence for taking reasonable steps for the prevention and dete¢tyon of fraud and other irregularities. Page 5
Indepenilent Auditor5. Report to the Members of Rydal Hall Limited Oplnlon We have audited the finanrial statements of Rydal Hal Lwnited for the year ended 31 DeCber 2022 whth ujmprise Consolidated Statement of Financial Adwtyes. ConsolK1ated B8lanc£ Sheet. Charity Balan Shèet, Cash Flow stameNt and the relate(I notes,. including a sufflrnary of swnificani accounting policies The finanaal reporting framework that has been applied In their prep8r8bon 15 applirable law and Unrted Kingdom Accounting Standards. induding Finanoal Reporting Standard 11J2. The Finanrjal ReporbrrfJ Standard applicable in the UK ancl Republtc of Ireland Iunrted Kingdom Generally Attepted Accounting Practice). In our opinion ihe finanual ststements.. give a trL and fair wew of the stste of the group and charitable c¢ynpany'$ aNairs at 31 Dernber 2022 and it's incoffling resource5 and appIaon of resou[s. InLIng its income and eXperKlitU. for the year then ended". have been properly prepared in acrA)rdanrEwlh Unrted Kingdom Gènerally Accepted Accounu'ng pract.. and have been prepared in 8cCOrdan %wth the reqvirements ofthe Compans Act 2006. Basis for opinion We con¢ucte(l our audrt in ac£ordance Intemational Stsndards Audtbng (UK) IISAS IUKII and applicable law. Our responsibilitie5 undei those stsndards are further descnbed in the Auditor's responsibilities for thè audit ol the financial ststements section of our ieport. We a independent of tf charitable company in acrDrdance with the ethical requirements that are relevant to our audit of the fjnanoal ststemenis in the UK. including the FRC'S Ethic21 Standard. and we have fulfi'lled our other ethul responsibilities In accordance ¥byih these requirements. We believe .that the audit ewdence we have obtained is St¢*nI and appropriate to tKowde a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, have corLjed that Ihe trustees. use of the gtyrg nCrn ba5t5.of accounting In the preparation of thè ffinan(Jal ststemènts is akyropriate. Based on the work we have perfornied. ha¥e not Klentified any rnaierial uncertainties relating to evenis or conditions that. indiwdualty or ¢cAlethvely. may cast significant doubt on the groups abilrty to continue as a going concem lora period of ai least months from original finry81 staternentswere authorise(I lor issue. Our responsibilitEs and the responsibihltes of ihe direciorswilh peC(tO grj nCern are deSbed in the releva secbons of this report. Other information The other tnformalion corriKKises the infOnna¢)n iluded in the annual pt. other than the finanual ststements and our audrtor's report thereon. The trustees are restx)nsible for the" other inforrnatK>n. Our opinion on the finanoal statements does not cover the other Infomabon and. except to the extent olherwise eXlritIY stated in our report, do nor eXp$S any fomi ol assuran condusion theieon. In conneclion wth our audit of the financjal statements, our responsibility is lo read the other inf¢Hrnation and. in doing 50. consKler whethef the other inf(mabon is materially inconsislenl with the finanrial statements or our knthedge obtained in the audit or othetw¢se appears to t£ materially 'misstaled.- If we identify such material inconsistencies or apparent material misstaternents. we ale required to deiem)Ine wheiher there is a material misstaiemeni In the finanoal statements or a maleiial misststemènt of the other infornalion. If. based on the work have performed. condude that the is a material misstatement of this other infomialion. are required to report.that farl. We have nothing to"report in this regard Oplnlons on other mattels prtscribed by the C¢)mpanies.A¢t 2006 In our opinion, based on the work undertaken li thecour5e of the a(kYit". . the infomiation given in the trustees. (Incorporab"ng the Strateg report the di0r$, POrt) for tl financial year for which the finan staiements are prepared 15 cons15tentwih the financial ststements,. and . the trustees. wort lincorporating the strateg¢ repC a1 the directNs' report) have been prepared in accordance wth applicable legal requirements. Pa6
Independent Auditors. Rer)ort to the Members of Rydal Hall Limited . cOntind Matters on which wè are reguired to rÈport by excep1ion In the light of the knovAedge and understaThJing of the Chanty and its enwronment obtsined in the course of the audit. we have not identified maierial rnisstatements in the TnJstees' Annual ReporL We have noihing to report in resped of the folbwg maws in relab.on to WW the cnpanIeS Ad 2006 requir85 US to report to you tf. in our opinion". rtain dtscb5ures of trustees, rernunerab" SFeaW by law are not mJe". ¢ adequate accounting records have not been kept or retums adequate for tyJr audrt have not been received from branches not l$lted by us. or the finanoal statemenls are not in agreement wth the accounbng reId5 and ietuins.. we have not obtained all Ihe infomiatiC and ewanabons necessary for Ihe wrposes of our audri. Re$pon$ibilitie¥ ol the irustoes As explained fflo fulty in Ihe Tru5tees' Responsi2)ilities Sialernenl sei out on page 5. the trustees Iwho are a1$0 the direclors of the Charitab company for the purposes of company lawl are responsible for the pparab"On of the rinancial statements and for beino satisfied that they give a true an(1 fair view. arKI for such intefflal controls as'they detemiine is necessary to enable the pparation of finanual statements that are free trom material misstatement. whether due io fraud or error. In preparing the finanoal siaLements. the trustees are responsible for assessing the Charity's ability 10 continue as a going Conrn. di$downg. as applicab. matters related to 90ing conrEm and 'using the going CtrnM basis of accounting unless the trustees erther intend to liqvidate the Charity or to (ease operations, or have no Tealists"c allemaiive but to do so. Our responsibilities for the audit of the financial staternents Our ofy'ectives are to obtain reasonable assuran about whether the financial ststements as a Who a free from rnalerial misstalemenl. whether due lo fraud or error. and issue an auditorfs report that inclLxJe5 our opinion. Reasonable assurance Is a high level of assuran. but is not a yuarantee that an audit condvcted in ar£Ordan with ISAS IUKI will aFways detect a material misstatemeni when it exists. Misstatements'¢an arise from fra( or error and a considered rnatenal if, Indiwdualy or In the aggregate. they coukj reaSonaY be expected to Influence the éconornic decision5 of usets iaken on the basis of these financial statements. In identifyir#J and assessing risks of material rni5ststement in SpeCt ol irregulari¢s, induding fraud and non-compliance with laws and regulations. conswJe the le41ovring." the natu ol the industry and sethor. conlrd enwronment arwj charitys perfomiarte.. results of our enquiries of rnarwement about their idenb"fication and assessment of the risks ol irregvlaritiès. any matters w& Klentified havirMJ obtsined and revwd the dwrty's d¢)cJJmentstion of their. pc4iues and prth2dures relating to.. Idenlifying, evaluaQ'ng aTrJ complying wth Lgws and wulation5 ano whelher they a aware of any instances of non-compliance". detecting and responding to the risk5 offratyj whether tlw ha¥e knthvlèdgo of any actual, svspected or alleged fraud.. the intemal controls establthed to mibgate risks offraud N non&cp1Ian¢e laws and regulatns". The rnatters discussed the audit team warding aTrJ Whe tra[ Mht occur in the finanaal statement5 WKI any potential IndiLor$ of fraud. .. P¥Je 7
Independent AuditOTS' Report to the Members of Rydal Hall Limited .. GonDrJued As a result of these prod, consKJered the opportunrties aNI IntiVeS that may exist wiihin Ihe organisation for fraud ancl identified the greatest potential lor fraud to be in relabon lo revenue recognitron and management overiKle whth. In wmrnon all audits under ISAS IUK). a required to perfomi speufic procedures to respond to this risk. We also obtained an unclerstanding of the legal and regulatory framework thal the operates in. focusing.on provisions of those laws and regulations that had a direct effect on the deierminaty.on of material amount5 and d15closures in the finanaal slaternents. The key laws aj gulaI50n5 Me conside In this o)ntext was the Companies ACL Chariu'es ACL pension legislab"on. employrnent Jaw. tax legislatyon 2nd relevallt health and safety laws. As a sum of performing the above, in fes5)onse to the risks klenb"fed, we clid not tdentify any key audit matters relaled to th8 p¥)lentsal risk of fraud or non-complian vMth.law5 and I8guiations. In additiDn lo the above, our procedures to respond to risks identified included the fOlk"rJ.. the finanoal statement disdosvres and tesbng to supporting docwnentst+on to assess complian ,with provisions of relevant law5 and regulabons described as hawing a direct effed on Ihe financial statements", enquiring of manageMenta)&M1n9 actual and potential IallOn and daims.. perfomiing analytical procedures to Klentfy Èfty unusual (>r unexpÈ(ièd rèlatimships that may Indicate risks of material misslalementdue io fraud., reading minutes ofmeetings of.those wlh 9ovemance. aThJ in addressing the risk of fraud through management override of controts, te$'rj the appropriateness of Foumal entnes and other èdjustmellts." assessing whether the Ijgemen1$ made In making awunting esbm8les are indicative of a potentsal bh3s". and evaluating the bu5ines5 rationale Df any significanl transactions that a unusual or outside the nomial cDurse of the charitys work. We also mmUnIcated rekvant identified laws aThY regulal'ons and potential Ir3ud risks lo all Engagement team members and remaine(J alert to any indications ol frau¢J or non-compln vAth laws and regulats'ons throughout the audit. A further descriplton of our respor1b1Iitles for Ihe audrt of the finanaal staternents is located on ttie Financial Reporting Counol's websile at. w•M.frc.org.LWatyYrtorsre5ponsibilitw. This e$rption ftsmi5 Part of our audittsr's rewrt. Use of our report This report is made s(dely io the tharity's Members as a body. in acl0rdan wth Chapter 3 of Part 16 of the Companies Act 2(K15. Our audit work has teen undertaken so that we might state to the thantys rnernbers those matters we are required to state to them in an auditorfs ptsrt and for Th) other s)urpose. To the htrllesl extent pemiilted by law, do not accept or assuffle responsibilrtyto anyone Olherthan Ihe charity and its mernbersas a boty. for OUT audit work. for this report. or for the opinions we have fomed. FIFTEEN RosehAI Montgomery Way Rosehill Estate CARLISLE CA1 2RW aye Arrnstrong (Senior StatLttory Audilorl For and on behalfof Dodd & Co Audrt Limited, StatOry Auditor 19 September 2023 Dodd & Co Audit Limiied is eligible to act as an auditor in temis of seC)n 1212 of the Cwpanies Act 2006 Page 8
Rydal Hall Limited Statement of Financial Activities (including Income and Expenditure Account) for the Year Ended 31 December 2022" Unrestricted Restricted Total Funds Total Funds Funds Funds 2022 2021 Note Incomè and èndowments Irom: Donations an¢Y legaues Rydal Hall Tr&Jing Limrted trading 8th1$ Investments Charitat4e aCtivrts Other Total income and endownents 8.926 467,94& 3,198 798.247 . 423 1.278,737 2,222 11,148 467,943 3.198 798,247 423 1.280,959 588,667 397.718 20 535,475 1.786 1,523,666. 2.222 Expenditure on.. ChaTht8ble 8ctiMties Total expenditu 1.457,612 1.457.612 2.222 2.222 1.459.834 1.459,834 1,074,531 1,074.531 Net movemenls in fuThls {178.8751 {178,8751 449,135 Reconciliation of funds Total iun¢Js brought forward Totsl fvJnd5 cArrd forward 2,469 .1176.4061 2.469 I176,4() {446,6661 2.469 All ofthe Charity's derive from continuing (yralions duri the above peric#Js. The notes on page$ 13 to 24 fomi an tegra1 part of Ihese finanaal StsInents. Pa9e 9
.Rydal Hall Limited Company registration number. 02561024 Balance Sheet as al 31 December 2022 2022 2021 Note Fixed a$ts Tangible assets 12 59,506 Current assets Stocks and worfK in prcgress Debtors Cash at bank an¢J in hand 7.733 47.041 240,g14 295.688 14 106,697 312,405 426,001 Creditors.. Arnounts falling due within one year 15 1357.5381 1282,4381 Net Current Illablliliesvassets 161.8501 143.563 Net assets 24.194" 203.059 The funds oliht charfjty.. Restr(¢ted funds Unrestricted lund5 Called up Sha caprtal Unrestricted income fvnds Totzl unrestricted funds 200,600 1176.406} 200,6Q) 2,469 24.194 203.069 Totsl charity funds These accounts have teen prepared IR aCdarKe Ihe pro¥ision$ applicable to ¢oMpan5 suLI"ect to the small companies regime. 24.194 203.069 Approved by the Board on 19 September2023 and signed on ils behalf by". RDJ ques The notes C pe$ 13 10 24 icth an integral part ofthese finanaal statements. Page 10
Rydal Hall Limited Charity Balance Sheet as at 31 December 2022 2022 2021 Note Fixed assets Tangits assets Investments 12 13 86.044 59,506 86,045 59.507 Current assets Stocks and )rk in progrèss Debtors. Cash at bank an¢J"In hand 7.733 47,041 240.914 295.688 6,899 108,697 312.405 426.001 14 Creditors-. amounts falling du8 within on• year 15 1357.5391 1282,4391 Net eurrent Iliabiliti•sVassèts Net assets 161.8511 24.194 143,562 203.fh59 The funds of the charity-. Unrestricted funds Called up share raptsl LInstn¢te income funds ' Totsl unre$lri¢ted funds 2(Kl.600 1176.4(%1 2CM).6DJ 2,469 24,194 203.069 Total charity funds 24,194 203,069. These accounts have been prepwed in acwdance wilh the provi510n5 3pphcabSe to companies subject to the small cL)MpanS regime. No Ststement of Finanaal Actiwty Is presented for the" thanty as miitted by SeGtv)n 408 of the Cclnpanies Act 2CM)6. The charity posted a defiat for the finanual year of £213,84612021 _ surr4us of£377.0261. Approved by the Board on 19 Septernber 2023 and sKJned on its behalf by. ves The notes on page$ 13 to 24 lomi an iniegrnl part ofthese finanaal statements. Page11
Rydal Hall Lirnited Cash Flow Statement for the Year Ended 31 December 2022 2022 2021 Net cash providèd by lu$td by) operating activities Net {expenditureYinc(Mn8 for the peri Depr8Lyation charges Increase in st¢xks Decreasellincreasel In (Jebio Increaselldecreasel in csedit 1178.8751 17,992 18341 62,254 72,502 ' {26,9611 449,135 18.181 11,6381 175,1741 1243,9791 146,525 Net cash provided by {used inl investing activities Purchase of property. plant and eouipment {44,5301 {44,5301 ecreasellincrease In cash {71,4911 146,525 The noles on pages 13 to 24 frKm an integral part ofthese financ¥al statements. P4e 12
Rydal Hall Limited Notes to the Financial Statements for the Year Ended 31 December 2022 Accounting policies Sumrnary ol signlfi¢ant accounting poli¢i¢s and key ¥¢¢ounting estirnat•s The pfinopal aco)unD'ThJ poIJe$ applied in the prepaialion of these finanaal stslements are set out below. These policies have Ln conststenuy aFyld to all the year5 presented. unless Ottrtse stated. Statement of ¢ompllance The financial ststements have been prepared in acrA)rdante itt) Accountsng and Reporb'ng by Charities." Statement of Recommended Practic£ appliG3trAe to tharrtie5 preparing their accounts Jn accDrdance with the Financial Reporting StaThJard applicable In the UK and Republi¢ of Irelarml IFRS 1021 leffeuive 1 January 20191 (Charities SORP IFRS 10211. the Finanual ReportwwJ Stsndard applicabk in the UK and Republic of Iland IFRS 1021 and the Companies Ad 2$. 8asis of preparation The charitable cornpany meets the definition of a publ benefit enbty under FRS 102. Assets and liabilities are initially recogni58d at hIsttal cost or tranSacIn value unless othemse staled in the relewdnt accounting policy notes. Going concern These finanaal statements have been prepared on a goiThJ rAr£m basis. The Itee$ assess Mtheiher the use of gc¥ng concem is apprormiate i.e. whether there are any material uncertainties related to events or conditsons that may cast significant doubl on.the ability of the Charity tts continue as a going concern. The tnjstees rnake this assessrnent in respect of a period of one year fr(Yfi the da of approval of the finanaal statements. The gr¢wp is dependent on the ongoiThJ support ol its parent charity. Cartisk Diocesan Board of Finan .ICDBFI. iri order to conbnue trading. CDBF has fomialty confimed such support shall contsnue to be provid8d and on that basis the tharty remains a wn9 corKem. Fund a¢countinq poli¢y Unrestricted income lunds are general funds that a available for use at Ihe trustees. disueu.on in fvJrther8n of the 0tr4'ecb'45 of the tharity. Further delails of eath fund are (ksdosed in te 21. Page f3
Rydal-Hall Limited Noles to the Financial Statements for the Year Ended 31 December 2022 .. conbnued Income and endovmients Donations are recognised when the Charty has been nobfd in writing of both ts amount and settlement date. In the event that a donation is subject to Condit$ that require a kvel of perfornianre by Ihe Chanty befo the Charity ts entitled lo the frtnds. the incorne 15 deleed and not recognised until either those coThditions 8re fijl met. or the fuifilment of those condib.ons is ollY within the control of the Charity and it is probable that these condth.ons will be fulfilled In the ieporting peric¥J. Legacy gifts are reco3nised on a G3se by G8se b35ts fOlkNrj the grant of Fyobate when the admini5torlèKecutor for the estaie has communicated in vmting both the amount and selllement date. In the event that the gift is in the form of an asset other than cash or J finanoal asset trad•J on a recognised stock exchange, recognition is subject to the value of the 91ft being reliably measured wth a degree of reasonable accuracy and the b.tle to th&- asset having been transferred lo the Charty. Income from Govemrnent and other grants. whether'capital. grants or.venUe. grants. is reccJntsed when the cbarity has entillemeni 10 the funds. any performanc£ conditions attached to the grants have been met. it IS probabk thai the Income wll be le1¥e and the amount can be measured reliabty and is not deferied. Investmenl income is recognised on a 1Vable basis. . Incorne from charitaL4e acDvities indJeS income recognis&Y as eamed {as the related gwds or services are provkledl under contract. Expènditure Liabilit$ are recconised as soon as Ihere is a legal of constructive obligab.on.committing the Charity to the expenditure. All expenditUTe is ac£ounted for on an accrua15 basis and has been dassifd under heading5 th8t aggiegate all costs related to ttte categcy. Charitab expenditu comprises those costs inwrred by the tharity in the delNery of its aeiiwt and servKes for its iEneficiari8s. It indudes both costs that can be allocated direcuy to suth activitie5 and those costs ol an indirect nature nesSary to supportlhem. Support eosts Support costs indude cen¢ral fun05 and have treen allotated to acivity Cost categories on a basis consistent. th the use of resources. for example. allocating wrperty costs by Iloor areas, or capita. stsff costs by the time spent and other costs by their usage. Irrecoverable VAT Irtècoral4è VAT is eharged again the categwof SOurceS expeThYed for it wa5 incurred. Taxation The Charity is considered to pass the tests set j1.1ft Paragra 1 Schedule 6 of Ihe Finanr£ Act 2010 and thefe it meets the definition of a Charitable company for UK corporation tax purposes. Acwrdinoly. the Charity is potentally exempt from taxation in resrec¢ of incorne or capital gains ieceNed wthin categones vered by Chapter 3 Part 11 01 the Corporat%)n Tax Act 2010 or Section 256 of the Tax£lon of Chargeab Gains Act 1992, to the extent Ihat suth income or gains a appl*d exdusirfi to Charitab purposes. Fixed assets Indimdual fixed assets u)stin9 £10CXI or more are initialty recorthd at Cost. Page 14
Rydal Hall Limited Notes to the Financial Statements for the Year Ended 31 December 2022 . Con1u&d Depre¢lation Depre¢iatiThry is PlOVKlÉd on tangible fixed assets so as to write off Ihe ¢St or valuats"on. less any estimated residual value. over their expected vsefvl econcMnic life as fonows.. Leasehold land and buildings Plant and machinery induding rnotor vehicles Fixtures. fittings and equipmenl 10 years straKJht line basis 25% straKJhl line basis or 10 years Straht Ine basis 25% Straht line bass or 3 year5 str3wJht line basis Stock Stock is valued at thè lower of cost aThJ net rea115able yue. after due regard for Obsote and sltsw moving stocks. Net realisable value is based on sdling prre $$ antiopated costs to cornpleticI and selling costs. Items onated for $21& or distribution are not induded in the financial stslements until lhey are sdcj or distributed. Trade Oebtors Trade debtors a amwnls due frcffj customets for merthandise SLJ or servicEs krfomed in the ordinary course of business. Trade debtors are recognised iniually at the transacbon price. They are subsequently .measufed at arnortised cost u&ng the effective intewt methcxj. prowsion for Impaiment. A wovisioft for the impairment of trade debiors is established vthen there is objective ewdence that the Charity will not be ab18 to collect all amounts due according to the original temis of the eeNable$. cash and Cash Equivalents Cash and cash equivalents rAHllwise cash on harKI arKJ ¢all deFrf)sits, and Other short-temi highly liquid investments that are readily Convertib to a knth¥rL amount of cash and a suLI"ect to an SIgnIfiCant risk of change in value. Liabilities Trade ueditors a Obligaticts io pay ts goods or services that ha¥e been ac4uired in the ordinary course af business from suppliers. Accounts payab ale dasSIf as curnt Iiabilibes If the Chanty ¢Joes not have an uncondibonal right, at the of the reporriNJ period. to defer settlement of the creditor for at kast e1 month5 after the reportin9 date. If there Is an vncorvJilKJnal Trjht to defer settlement for at least twelve months after Ihe reportsrg da¢e. they are presenied as rraIrrent Iiats'lites. Trade creditors are ¢jniSed initially at ihe transathon prtt a1 subsequenuy measured at amorb.sed cost using the effective interest method. Operating leases Leases in which 5ubslanbally. all the risks and rwdrds of owrr$hip are retained by the le550r are d855thed as. operating leases. Rentals payable underrating leases a charged in the St31ement of Financial Activitiès on a 5trauhl line basis overthe lease temi. Pènsions The charity operates a defined Contritwtion pension scheme. CtrjuOnS arè tharged in the stsiement of finanaal activth'es as they teCLNne paYae in acwdance wth the rvles oflhe stheme. Pagè 15
Rydal Hall Limited Notes io the Finaneial Statements for the Year Ended 31 December 202.2 .. continued Financial instruments Finantyal 8ssets.and finanaal h"abilths are recLtyJnise(I vA)en the thanty becomes a party to the contractual P¥OV1510ns of the instrument". Finanrial liabilit$ and equity instruments are dassifd according to the substan of Ihe contractual arrangements entered Into_ An equity Instnjment is any contracl thai ewdences a resKJual interest in the assets of the Charrty after deductiNJ all of its li)ilibes. All finanryal asset5 anij liabilities a initially measured at ttansaGbon wce (including transaction costsl. except for those financial assets classified as al fair value through profit or b$5. whith are init1811y measu at fair value (which is normally the transa pri exduding transacbon coslsl. unless the arrangemenl conslitutes finanrjng transaction If an arraftgement rAN15titutes a financ4ng ttansact40n. the finanual asset or financial liability is measured at the yesent value of the fvlure paymenls discounted at 8 market faie of interest for a similar debt instrument. Finanoal assets aThJ liabiltbes ao onw offset m the sialement of finanoal position when. and onty %vhen there exists a legally enfOrable right to set off the reccty3nised arnovnls and the Chanty intends either to setde on a net basis, orto realise the asset and settk the liabilty SyriultareouY. Finanaal assets are derectyJnised when an<J only vthen al the o)ntractual ruhts to the cash flows trom the fin8ncial assel expire or a settled, bl the Charity transfer5 to another party substantially all ol the,risks and rewards of ownership of the finanual asset. or cl the Charity. despite haviag retained some, but not all, significant risks and WardS of 01)ershIp, has transferred control of the assèt io another party. Financial liabilities are derecc*3ni5ed only en Ihe oblvJalion in the contract is dischaoed, cawlled orexpires. Donations and legacies Unre$trb¢tsd Restricted Total Funds Tptal Funds Funds Funds 2022 2021 Donations and legacies G8rden lour5 and donatiws 2.926 2.926 ' 2,491 Grants Other grants" Government grants receNat Grants- DBF 148,300 137,876 300,000 586,176 2.222 8.222 6,0 2,222 8.222 6.926 11.148 588.667 Of the donations aThJ legacEs inc(me in 2021. £561.166 lat to unrestrii#eiS fvnds and £27.501 related to restricted funds.. Page 16
Rydal Hall Limited Noles to the Financial Statements for the Year Ended 31 December 2022 Rydal Hall Trading Limiied tr•dlng aciivltles Unre$tricted R8striet•d Total Funds Total Funds Funds Fun(Is 2022 2021 Cottag&s Pods Youth Camping and cai park Sale of logs Tea Shop Yurt Her(Jy huts 57,848 16,155 33..727 129.817 414 195.358 20.124 14.%KI 467.943 57.848 16,155 33.727 129.817 414 195.358 20.124 14,S(K) 467.943 53,776 12,224 31,422 114,087 322 149,830 24,357 11,700 397,718 Of the other trading a¢tswtÈs incmè in 2021. [397,718 Lated (o Unrestric n5. Investhients ' Unrestri¢t¢d Restrictèd Totsl Funds Totsl Fund8. Fund$ Funds 2022 2021 Interest on cash deposrt5 3.198 3,198 20 Of the investsnents In¢{M in 2021. £20 related to unrestricte(l fvnds. Charitable a¢tlvltle$ Unrestricted Restrfct¢d Totsl Funds Total Funds Funds Funds 20Z2 2021 Bar and Hall Shop takings Miscellaneous reIts Room hire Hall .554 53,459 8.434 66,554 53.459 8.434 é69.800 798.247 48,394 14,809 472.272 535,475 798,247 Of the incrne frorn tharitable actiwb.es in 2021, £535,475 related to unrestricled fund5. Othor Unrestricted Restricted Total Funds Total Funds Funds Funds 2022 2021 Waler and hydrtrelectric re4*S 423 423 1.786 Ofthe other income in 2021. £1.786 late<l lo unrestricted fvrth. Page 17
Rydal Hall Limited Notes to the Financial Statements for the Year Ended 31 December 2022 . continued Expenditure Rydal Hall Trading Charitsble activitiès Totsl 2022 Total 2021 Oirect ¢o$t$ Fcth purchases- adjusted for stoth Employmeni costs Rent and rates Rates Electricity. gas and water system Insurance Repairs an¢J maintenanc• Upkeep of grounds Garden Projeci general eXpdIture Telephone and fax Compuier software and m8intenance costs Printing. postage and statnery Hire of plant and machin8ry - Sundry exrenses Cleaning Management charges paYae Molor expemses Advertising Carnping booking cornmissi 52,OLK) 222.288 16.425 3.445 34.970 8.118 43.169 128.920 583.969 28.575 180.920 806.257 45,IK)O 9.439 95,804 22.240 113,273 121 5,511 8,158 16.849 5,986 6,143 5,315 39,C69 8,00 503 9,930 12.524 1.391.042 108.343 632,419 60.000 1,637 4S.681 20,609 72,488 85 8.472 6.454 12.481 4.021 3.543 1.693" 24,600 8,000 554 4.166. 2,039 1.018.285 6L),834 14.122 70,1(M 77 3,499 5.180 10,7LKI 3.602 3.901 3,468 31.547 2.012 2,978 6.149 2.184 2.242 1.847 7.522 2.¥20 74 3.624 4.572 416.583 429 7.952 974,459 Support costs RecnJilment costs Staff traini Chaplaincy offer The audit of the thantys annual arrnts Audiiors. MUneral)n- non aJit wort< L31 and prolessional fees 8ank d)arges Oepreciation of an1 and macts.nery 3.449 541 1.414 5,999 941 2,460 5.350 1,985 10,028 9,448 1,482 3,874 5.3SO 3,125 15,792 11,729 17,992 68,792 4,675 2,625 20.251 10,514 18.181 56.246 1.140 5.764 4.081 17,992 52,403 16.389 432.972 1.026.862 1,459,834 1,074,531 Of thè expenditure in 2021. £1,047.030 rdabj to unrestricted funds and £27,$01 restriued. Of Ihis. £677.587 rel3t8d lo Rydal Hall Limited and £340.6B9 related io Rydaj Halj TrèdiNd L¥mited Page18
Rydal Hall Limited Notes to the Financial Statements for the Year Ended 31 December 2022 contAnued GovÈrnan¢• costs 2022 2021 AudilotsremuneratM)n ALKlitors rernuneration- non audit Management fees Legal and professiona5 fees 5,350 3.125 8,000 15,792 32,267 4,675 2.625 8,000 20,251 35.551 Trustees. remuntration and Èxpenses No trustees 1Ved any remuneration or eypenses during the year. 10 Net lexpenditureifincome Nel lexpen¢tUreVinrne is stad after drgIa.. 2022 2021 ALKlitiKs' remunèratson- audit servi Depatn ol langle fixed assets 5.350 17,992 4.675 18.181 11 Employees. remuneration The monthly average number ofper50ns lindudwwJ 5eniN ManeMentI empkjy.ed by the chanty dunn9 the yea¥ was as fc41ows'. 2022 No. 2021 No. Rydal Hall_ 37 31 The aggregate payroll costs ofthese persons were as fcllcws". 2022 2021 Wages and salar*s Social secunty Other pension eosts 70g.476 48.221 48,560 806.257 553.354 35,978 . 43.087 632,419 No employee 1Ved emoluments of more Ihan £60,OCMJ during the year. The key managètnent personnel comprise the Trustees. The tot81 emptoyee tenefits of the key rnaThOget personnel of the Charty wefe £nil12021- £nll. Page19
Rydal Hall Limiled Notes to the Financial Statements for the Year Ended 31 December 2022 . continued 12 Tangible fixed a5$8ts Plant and machinery Fixtures, L¢a$ehold land including motor frtting5 and ant1 buildin9$ vehicles equipment Total Cost As at 1 January 2022 AdditnS A5 at 31 De¢ember 2022 130.469 5.000 135.469 26.354 29.349 39.530 68.879 IB6,172 44.530 230,702 26.354 DeplatIon As al 1 January 2022 Charge forthe year As al 31 December 2022 85.152 8.072 93.224 14.489 3.026 17.515 27.025" 6,894 33.919 126.666 77.992 144.658 Net tjook value As al 31 Decernber 2022 42.245 45.317 8,839 11.865 34.960 2.324 86.044 59.506 As at 31 Oeeember 2021 13 Investments in subsidiaries The charity hOS rn0 than 20% of the Sha capital Of follrnving (PanY. Country of Incorporation Principal activity Class Subsidiary undertaking5 Rydal Hall Tradw Limrted United Kingdom Prowsion of camp site faolit4es Ordin8ry Capital & re$erves ProfiV{lossl for the p8riod Subsldi3ry undertakin9S Rydal Hall TradirvJ Limited Page 20
Rydal Hall Limited Notes to the Finan¢ial Statements for the Year Ended 31 December 2022 . contued 14 De" btors Group 2022 2021 Trade debtors Other debtors Prepayrnents and accrued ince•ne 39,849 7.192 47,041 26.792 7g,417 106.697 Charity 2022 2021 Trade debtors Other debtors Prepayments and accwed income 39.849 7,192 47,041 26,792 79,417 106.697 15 ¢redltor8.' Amounts falling due within one year Group 2022 2021 . Trade ¢ditorS ArnoLJnts owed to gioup undertakings Taxation and social seojrity Other CltOrS Acuuals and ¢jefer income 25,987 134.271 23,118 88,065 86,097 357,538 30.655 72.g56 17.274 .123.038 38.515 282.438 Charity 2022 2021 Trade creditcN Amounts owed to group undertakiNJs Taxabon a1 swal secunty Other creditors Accruals and deferred inc(Mne 25.987 134.922 23.118 88.065 85.447 357.539 30.655. 73.607 17.274 123.038 37.865 282.439 Page 21
Rydal Hall Limited Notes to the Financial Statements for the Year"Ended 31 December 2022 .. contu8 16 Share capital 2022 2021 Alloted, called vp and fulty paid Ordinary £1 share caprtal 200,600 200,600 200,600 200,600 17 Capitsl commitments Expendrture contracted for but not promda in the finanaal statements.. 2022 2021 Constructn work 24,685 18 Operating lease ¢ommithients As at 31 December 2022 Ihe chanty had totsl lUtU minimum lease payments under rion-C8nc£llable operatin9 leases as follows.. Land and Buildings 2022 2021 Within one year 60,000 19 Pen¥ion ¥¢home Defined contribution pension scheme The charity operates a defined contribution pension scheme. The pension cost charge for the pen¢)Y represents contnbutions payable by the chanty to tt)e scheme and amounted to £48,56012021- £43,087). There wgre no outstanding or prepaid (bUtil¥ at 11 the beginning or efvj ol the finanoal year. Page 22
Rydal Hall.Limhed Notes to the Financial Statements for the Year Ended 31 December 2022 .. conlinued 20 Related partie$ Controlling entity Cadisle Oi¢)cesan Board ol Finance Limrted Iwistered dwntyi is the ultimate controlling paty of both Ftydal Hall Limited, and Rydal Hall Lirnrted's wholty owned trading subsidiary Rydal Hall Trading Lirniled. During the year Rydal Hall mited paid nI io Carlisle Owsan Board of Finance of £45.00012021 - £60,000) and also paid a management fee of £8,00012021 . £8.0001. The baLonce due to Carfisle OKJan Board of Finanee at 31 tlecernber 2022 is £134.271 {2021- £72.9561. DurirrfJ the year Rydal klall TradiThJ Limile(I cornmitte<J to making a donation to Rydal Hall Limited of £34.971 {2021 - £72,109). The balance due to Rydal Hall Tracling Limited at 31 0mber 2022 is £nil12021- £nill. 21 Analysls of funds At31 December 2022 At 1 January 2022 Incorning resources Resource$ expended General Funds Unrestncted income fijnd 2.469 1.278.737 11.457.612) 1176.4C61 Restricted Funds DWP 2.222 (2.2221 2.469 1.280,959 {1,459.8341 1176,4061 . DWP- fun¢Js used to purchase acces&bilty Ore equipment for stsff. Page 23
Rydal Hall Limited Notes to the Financial Ststements for the Year Eniled 31 December 2022 . continued Prlor perlod At1 January 2021 Incoming resources Resources expended At31 December 2021 General Funds Unre51ricted income tund 1446.6661 1.496.165 11,047.0301 2,469 Restricted Funds Heritage ant hjnd 27.501 127.5011 1446.6661 1.523.666 11,074.5311 2,469 22 Nèt assets by lund Unrestricied Funds Total Funds 2022 Total Funds 2021 Tangible assets Cvrrent assets cditOrS." Amounts falling due wthin one year Oidinary share Ca1 Net assets 86,Ci44 295.688 1357.5381 1200.6001 1176.4061 59,506 426.(K)1 1282,4381 {200,SOOI 2,469. 295.888 1357.5381 12IK).6001 1176.4061 Prior period Unrestricted Funds Total Funds 2021 Total Funds 2020 , TarvJible assets Curreni assets Credrtors Amount5 falliThJ due vAthin one year Ordinary share capilal Net assets 59.506 426.001 1282.4381 1200.61Y)j 2,469 59,506 426.1K)I 1282.43BI_ 1200.6LKII 2.469 ,77,687 202.664 {526,4171 {200,600 {446.6661 Page 24