**REGISTERED COMPANY NUMBER: 11496998 (England and Wales) REGISTERED CHARITY NUMBER: 1186773** 

Report of the Trustees and 

Unaudited Financial Statements for the Year Ended 31 March 2023 

for 

The Seekers Trust 

McLean Reid Chartered Accountants 1 Forstal Road Aylesford Kent ME20 7AU 



The Seekers Trust 

Contents of the Financial Statements for the Year Ended 31 March 2023 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|6|
|**Independent Examiner's Report**||7||
|**Statement of Financial Activities**||8||
|**Balance Sheet**|9|to|10|
|**Notes to the Financial Statements**|11|to|19|





The Seekers Trust (Registered number: 11496998) 

## Report of the Trustees for the Year Ended 31 March 2023 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The Seekers Trust was founded on 12th May 1932 for the promotion of the well-being of mankind and in particular its spiritual, mental and physical regeneration and healing by means of Christian faith and prayer. 

The objectives of the charity are to relieve those in need and in particular the sick, those in poor health, suffering from relationship difficulties or spiritual crisis and to promote public healing by the provision and promotion of spiritual healing for the benefit of the public by teaching and training spiritual healers and by ensuring proper standards in the practice of spiritual healing. 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Charitable activities** 

This year was like a dawn of reawakening following two years of uncertainty and another cataclysmic event in Ukraine - the world still appears to be going through a period of transition and there is an increased demand for prayers, as those experiencing difficulties turn to us for comfort and strength in many areas of their lives. Regular prayer circles continue to be held in the homes of our devoted linkers and members and the chapel in our office in Addington. In May 2022 healing requests led to the reopening of our chapels twice a month by appointment only. We are grateful to our dedicated healers who make themselves available for these sessions. The trustees wish to acknowledge with gratitude the considerable commitment of all volunteers who ensure that these services are carried out and acknowledge that without their hard work it would be extremely difficult to continue to offer this support. 

We had our Day of Remembrance on 22nd June 2022. As you all know we were last able to hold this annual event in 2019. The sun shone and the rose garden was beautiful with an abundance of blooms The hall was packed with in excess of 100 people and everyone was pleased to gather again to meet and greet and share the experience of the day. 

In September 2022 we held our inaugural AGM for our newly restructured company which was attended by 14 members. Our previous AGM took place October 2019 pre pandemic and subsequent lockdowns. 

At the beginning of 2023 building work commenced on our chapels refurbishment and we continue to work towards getting our old healing reception converted into a beautiful new chapel for end of life celebrations, meditations and healing services. Group healing will be offered in St. Augustine chapel and individual healing sessions in Isabella and Grace Chapels. Prayer circles will be conducted in the Mary and James chapel and the adjoining library will be a spiritual library only, a place where one can simply choose a book and read in this lovely place of relaxation. 

We continue to add new names to our harmony prayer circles and to add new members. Since January 2023 we have added 6 new members, and 13 new names to the Harmony Prayer Circles and 260 new names on the Alter. 23 people have attended our healing sessions with some returning on more than one occasion. The testimonials we regularly receive evidence both the need and the success of our efforts. 

Maintenance of our grounds and gardens has been ongoing in difficult times. The Garden of Remembrance is still causing concern. Each year there is a need to replace many roses and it has been noticed that replacement rose trees are more difficult to source and costs have increased on an annual basis. We have a total of 485 rose trees in our Remembrance Garden. Out of 198 current members 105 have 178 rose trees between them. This year alone we have had to replace in excess 50 rose trees. The Trustees are keeping this situation under review. 

The Trustees have so many people to thank for their continued support. Staff, volunteers, healers and everyone involved in maintaining the Trust . The Trustees appreciate fully that without their much valued efforts the Trust could not continue to survive. We would also like to thank those families who donated legacies to The Seekers Trust. This is much appreciated and we will ensure that the funds are used wisely in the upkeep of the Trust. 

## **Investment performance** 

The management of our investment portfolio is in the hands of IPS Capital LLP. 

Page 1 



The Seekers Trust (Registered number: 11496998) 

## Report of the Trustees for the Year Ended 31 March 2023 

## **FINANCIAL REVIEW Financial position** 

Our current investment portfolio at the end of March 2023 was valued at £1,194,609 (2022: £1,254,151). 

The breakdown percentage of our investment portfolio is as follows: 

|Portfolio Cash|7.4%|
|---|---|
|Property & Infrastructure|11.9%|
|Fixed Income|30.2%|
|Equities|47.8%|
|Absolute Return|2.7%|



Legacies totalling £25,000 (2022: £1,500) were received during the financial year ending 31st March 2023. 

Details of the Income and Expenditure for the year can be found on page 8 of the Financial Statements. 

## **Investment policy and objectives** 

In accordance with the Trust Deed, the board of trustees have the power to invest funds not immediately required for the purpose of the charity, in the name of the Trustee Company, in or on any investments (including the purchase of freehold or leasehold land) as the board of trustees shall, on the advice of its financial advisors given at the time of the investment, select. 

## **Reserves policy** 

## (1). Unrestricted funds 

Unrestricted funds amounted to (£45,503), (2022: £23,443), of which £46,704 (2022: £51,504) was invested in fixed assets. The trustees are under a duty to act in the charity's best interests and to manage its resources responsibly. The holding of some unrestricted reserves is an important part of managing risk, so the trustees will endeavour to ensure these are returned to positive as soon as possible. 

## (2). Restricted funds 

The Chapel's refurbishment fund has been utilised towards the cost of pathway lighting. In accordance with the stated accounting policy this has been capitalised and the fund is now being used to cover the cost of the annual depreciation charge. 

The Endowment income restricted funds were created following a transfer of the income accumulated in the Endowment funds. 

To avoid a large deficit on unrestricted funds, the trustees have decided to utilise some of the Gardens and Grounds restricted fund to cover the Gardens and Ground maintenance costs. This fund was provided for the upkeep of the Garden and Grounds but historically we have only used the interest and have managed to meet the remaining costs from unrestricted funds which unfortunately we have been unable to do for the last few years. 

## (3). Endowment fund 

The Endowment fund was donated to the Charity on 7th June 1984. Income derived from it may be used for activities relating to the Harmony Prayer Circles, publicity and advertising, the upkeep of the gardens and grounds, and for conferences and promotional activities. The income from the expendable endowment fund may be used for the erection, replacement and refurbishment of the buildings at Addington. The capital from this part of the original gift (£250,000) may be used if the income is insufficient for this latter purpose. 

Page 2 



The Seekers Trust (Registered number: 11496998) 

## Report of the Trustees for the Year Ended 31 March 2023 

## **FUTURE PLANS** 

2023 is a year of double importance to The Seekers Trust with two important celebrations coming up. 1923 was the year when Charles Simpson discovered that he had the ability to become a channel for healing energy which was the conduit for healing work to commence. The first prayer circle was in a white washed coal cellar in London. Thus our prayer circles started 100 years ago. To this day we still hold prayer circles and pray for over 3,000 people from all walks of life and all nationalities and in need of medical, physical, mental and spiritual help. In 1933 Addington Park was opened . In 1933 the estate boasted a 32-bedroom manor house and some 286 acres of ground. Of course we no longer have the Manor House and our acreage is now a more modest 30 acres but we are still here offering prayer and healing. We are hoping later this year to mark these anniversaries. As soon as the chapel refurbishment is complete we hope to arrange an open day and a day of celebration to commemorate both these wonderful occasions. 

Earlier this year the Trustees had a one-day brainstorming session to develop a future strategy for The Seekers Trust. Although it is still early days and work in progress key the strategy focuses on developing a modern website, rebranding efforts, content creation and marketing initiatives. By leveraging the Seekers Trust strengths, such as our beautiful grounds, spiritual services and extensive resources we aim to attract new members, increase revenues and enhance overall engagement. Our target audience is individuals seeking spiritual support, healing and personal growth, and like minded charities such as Macmillan Cancer Support, local cancer research groups and other charities to collaborate on healing, well being activities and promotion of our Garden of Remembrance through partnering with local funeral directors and cremation services. Tenders have gone out to marketing companies to help us to develop our strategy for the future. 

It is also planned to review our current insurance arrangements this year since we have seen a substantial increase in premium year on year. 

Our current garden contractors advised that for personal reasons they wish to terminate their existing arrangements and have given final notice as of end of October 2023. The trustees would like to put on record their thanks to the current incumbents who have been looking after The Seekers Trust Estate since 2015. The trustees are putting together a new tender agreement for potential replacement contractors at the earliest opportunity. 

We will continue to keep you advised regarding progress of the Chapels refurbishment which is expected to continue for the remainder of 2023. It would be a great achievement if we were also able to include a fully functioning tea room in our future plans as a second phase of the refurbishment. This is a key factor in enhancing our facilities and attracting new visitors to our site. 

The office staff will continue to prepare the required monthly reports to enable the Trustees to prepare an annual budget, maintain controls and manage the charity's affairs. 

One of our primary roles as directors and trustees is to ensure that the work of prayer and healing will continue to grow and flourish. 

The most important factor for us is to ensure the sustainability of The Seekers Trust through the next stage of it's evolution and history. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The Seekers Trust Charity constitutes an incorporated charity and is administered by its Articles of Association adopted 10th November 2019. The charity is a limited company, limited by guarantee, as defined by the Companies act 2006. 

The charity's Articles of Association adopted the Trust Deed dated 7th May 1933 and the New Trust Deed dated 23rd March 1986 together with the Supplemental Deed dated 28th June 2003 and amendments dated 16th September 2006, 6th September 2010 and 10th September 2011. 

## **Charity constitution** 

The Seekers Trust Charity constitutes an incorporated charity with a registered charity number of 1186773. 

## **Recruitment and appointment of new trustees** 

The trustees of the charity are elected by the membership and serve a term of three years. Retirement is by rotation but, if they wish, trustees may be re-elected by the membership at either an AGM or EGM. The board of trustees of the charity shall consist of not less than three (hereinafter referred to as trustees) elected to office at an Annual or Extraordinary General Meeting of the charity. 

Page 3 



The Seekers Trust (Registered number: 11496998) 

Report of the Trustees for the Year Ended 31 March 2023 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Decision making** 

The trustees determine the general policy of the charity and have complied with the duty in Section 4 of the Charities act 2011 to have due regard to guidance published by the Charity Commission, including public benefit guidance. Whilst the staffing policy and organisational aspects of the charity continue to be under review, the chairman and trustees also manage the affairs of the Trust and ensure that the Trusts' policies are implemented. The chairman reports to the other trustees at their regular meetings and this information, along with any recommendations, are discussed and decisions are made by the board. The trustees approve all major and non- routine expenditure before a commitment is made and they review the quarterly income and expenditure accounts on a regular basis. 

## **Induction and training of new trustees** 

There is currently no formal training programme in place for new trustees as all are existing members of The Seekers Trust, therefore they know and understand the work of the charity and are familiar with the grounds and facilities at Addington. Any new trustee can be appointed by resolution of the members at an Annual or Extraordinary General Meeting of the charity. The secretary of the charity shall, at the same time as notifying the members of the date and time of the General Meeting, invite members to submit names of candidates, who shall have been members for not less than one year, for election as trustees. Names of candidates for election at the General Meeting must be submitted in writing by a proposer member and seconded in writing by another member (both of whom shall have been members for not less than two years continuously). 

Page 4 



The Seekers Trust (Registered number: 11496998) 

Report of the Trustees for the Year Ended 31 March 2023 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management** 

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 

## (1). Monitoring of risks 

The Seekers Trust trustees come from a wide variety of backgrounds and together possess a balance of charitable, ethical, spiritual and commercial experience. The trustees monitor the risks of the charity at their regular meetings. Where necessary The Seekers Trust employs professionals to advise on investment, accounting, legal matters and any other relevant areas in managing our estates and property. The proper insurance agreements are in place to protect our assets and employees. 

Our major risk is in finding the right persons to act as trustees; those who are committed to their task and with the skills, knowledge and experience which we need. It is important for us to get the right mix of trustees on board, trustees with a strong personal commitment to our aims and objectives, in order for us to have a balanced and effective board and a well governed and effective charity. 

## (2). Health and Safety matters 

The trustees are aware of their legal obligations under Health and Safety legislation, and continue to monitor the legal requirements that affect the charity. 

## (3). Investments 

The trustees consider that the preservation of capital in terms of the value of the investments is paramount and acknowledge that there is a need to generate income to meet the expenditure plans and the costs of running the Addington estate whilst other streams are developed. 

IPS Capital LLP look after the charity's investments and hold funds rather than individual equity investments. This reduces the level of risk and variations in the value of the investment portfolio. The investments are managed on their Diversifier Strategy which seeks to provide income and growth whilst protecting capital and so meet the Trust's objectives. 

## (4). Other controls and disaster planning 

Reporting systems and day to day controls are monitored regularly, and the trustees are confident that having reviewed these, and by continuing to do so, risks will be identified promptly, and their effects pre-empted or contained to manageable proportions. 

## (5). Trustees' reviews 

The board of trustees meets, at a minimum, on a monthly basis. The chairman of the trustees attends the office on a minimum of two days per week whilst other trustees make themselves available on an ad hoc basis as required to review and manage the charity's affairs. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 11496998 (England and Wales) 

## **Registered Charity number** 

1186773 

## **Registered office** 

The Lilacs The Close Addington Park West Malling Kent ME19 5BL 

Page 5 



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Mrs K Searte Trustse Irewned 31.7.231
Mrs J BUNII Trustee I￿51gned 31.7.231
MFS E P8rker Trustee
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R J mth.nkdy Tr￿tee
Ind•p•nd•ni Examsn
A M R&id FCA
McLean Rem
Chartar8d Att¢untsnts
1 For8ts1 Road
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RJ m¢knkny-Tw￿
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The Seekers Trust 

## Statement of Financial Activities for the Year Ended 31 March 2023 

||||||2023|2022|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||funds|funds|funds|funds|funds|
||Notes|£|£|£|£|£|
|**INCOME AND ENDOWMENTS**|||||||
|**FROM**|||||||
|Donations and legacies||102,751|9,363|-|112,114|1,795,541|
|Investment income|2|3|12,065|18,097|30,165|25,902|
|Other income||4,137|-|-|4,137|-|
|**Total**||106,891|21,428|18,097|146,416|1,821,443|
|**EXPENDITURE ON**|||||||
|Raising funds|3|8,486|20,924|371|29,781|9,045|
|**Charitable activities**|||||||
|Harmony & prayer activities||49,698|60,218|2,172|112,088|54,238|
|Addington Park estate||23,027|8,304|1,007|32,338|34,714|
|Conference hall & meeting|||||||
|centre||6,060|4,759|265|11,084|8,900|
|Guest cottage rents||17,023|495|742|18,260|18,101|
|Lilacs meeting room & kitchen||15,784|106|159|16,049|3,878|
|Grounds & garden maintenance||13,329|389|583|14,301|14,219|
|Other||-|-|-|-|-|
|**Total**||133,407|95,195|5,299|233,901|143,095|
|Net gains/(losses) on|||||||
|investments||-|(32,350)|(48,525)|(80,875)|36,442|
|**NET INCOME/(EXPENDITURE)**||(26,516)|(106,117)|(35,727)|(168,360)|1,714,790|
|**Transfers between funds**|13|(42,428)|42,428|-|-|-|
|**Net movement in funds**||(68,944)|(63,689)|(35,727)|(168,360)|1,714,790|
|**RECONCILIATION OF FUNDS**|||||||
|Total funds brought forward||23,443|658,794|1,031,914|1,714,151|(639)|
|**TOTAL FUNDS CARRIED**|||||||
|**FORWARD**||(45,501)|595,105|996,187|1,545,791|1,714,151|



The notes form part of these financial statements 

Page 8 



The Seekers Trust (Registered number: 11496998) 

## Balance Sheet 31 March 2023 

|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>9<br>Investments<br>10<br>**CURRENT ASSETS**<br>Debtors<br>11<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one<br>year<br>12<br>**NET CURRENT**<br>**ASSETS/(LIABILITIES)**<br>**TOTAL ASSETS LESS**<br>**CURRENT LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>13<br>Unrestricted funds<br>Restricted funds<br>Endowment funds<br>**TOTAL FUNDS**|Unrestricted<br>funds<br>£<br>46,599<br>105<br>46,704<br>199,947<br>(250,929)<br>(50,982)<br>(41,225)<br>(92,207)<br>(45,503)<br>(45,503)|Restricted<br>funds<br>£<br>3,239<br>477,843<br>481,082<br>9,225<br>105,498<br>114,723<br>(700)<br>114,023<br>595,105<br>595,105|Endowment<br>funds<br>£<br>-<br>716,766<br>716,766<br>-<br>279,423<br>279,423<br>-<br>279,423<br>996,189<br>996,189|2023<br>Total<br>funds<br>£<br>49,838<br>1,194,714<br>1,244,552<br>209,172<br>133,992<br>343,164<br>(41,925)<br>301,239<br>1,545,791<br>1,545,791<br>(45,503)<br>595,105<br>996,189<br>1,545,791|2022<br>Total<br>funds<br>£<br>55,043<br>1,254,256<br>1,309,299<br>206,023<br>237,439<br>443,462<br>(38,610)<br>404,852<br>1,714,151<br>1,714,151<br>23,443<br>658,794<br>1,031,914<br>1,714,151|
|---|---|---|---|---|---|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. 

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. 

The trustees acknowledge their responsibilities for 

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 notes form part of these financial statements 

Page 9 

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The Seekers Trust 

## Notes to the Financial Statements for the Year Ended 31 March 2023 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

- Plant and machinery - 10% on cost 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Designated funds are set aside by the trustees out of unrestricted funds for specific purposes or projects. 

Endowment funds represent those assets which ,must be held permanently by the charity. The part of the fund which must be permanently retained is known as Permanent Endowment and the part where trustees have a power of discretion to convert capital into income is known as Expendable Endowment. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Pension costs and other post-retirement benefits** 

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## **2. INVESTMENT INCOME** 

|Other fixed asset invest<br>Deposit account interest|2023<br>£<br>30,162<br>3<br>30,165|2022<br>£<br>25,902<br>-|
|---|---|---|
|||25,902|



Page 11 

continued... 



The Seekers Trust 

## Notes to the Financial Statements - continued for the Year Ended 31 March 2023 

## **3. RAISING FUNDS** 

## **Raising donations and legacies** 

|Sundries<br>Support costs<br>**SUPPORT COSTS**<br>Management<br>£<br>Raising donations and legacies<br>7,855<br>Harmony & prayer activities<br>46,094<br>Addington Park estate<br>21,689<br>Conference hall & meeting centre<br>5,610<br>Guest cottage rents<br>15,763<br>Lilacs meeting room & kitchen<br>15,513<br>Grounds & garden maintenance<br>12,339<br>124,863||2023<br>£<br>157<br>29,624<br>29,781<br>Other<br>£<br>21,769<br>7,314<br>3,390<br>892<br>2,497<br>536<br>1,962<br>38,360||2022<br>£<br>-<br>9,045|
|---|---|---|---|---|
|||||9,045|
|||||Totals<br>£<br>29,624<br>53,408<br>25,079<br>6,502<br>18,260<br>16,049<br>14,301|
||||163,223||



## **4. SUPPORT COSTS** 

Management and governance costs have been apportioned on an estimated use basis as follows: 

||%|
|---|---|
|Raising donations and legacies|7|
|Harmony & prayer activities|41|
|Addingtom Park estate|19|
|Conference hall & meeting centre|5|
|Guest cottage rents|14|
|Lilacs meeting room & kitchen|3|
|Grounds & garden maintenance|11|



## **5. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

||2023|2022|
|---|---|---|
||£|£|
|Depreciation - owned assets|6,216|6,116|



## **6. TRUSTEES' REMUNERATION AND BENEFITS** 

Following agreement by the Charity Commission, Mrs K Searle, trustee and spiritual leader, has received remuneration of £20,500 (2022: £20,500) for her responsibilities in the day to day running of the charity. 

Likewise, Mrs E Parker has received remuneration during the year totalling £11,091 (2022: £12,244). 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. 

Page 12 

continued... 



The Seekers Trust 

## Notes to the Financial Statements - continued for the Year Ended 31 March 2023 

## **7. STAFF COSTS** 

The average monthly number of employees during the year was as follows: 

|Administration<br>No employees received emoluments in excess of £60,000.<br>**8.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>Restricted<br>funds<br>funds<br>£<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>140,329<br>654,937<br>Investment income<br>-<br>10,360<br>**Total**<br>140,329<br>665,297<br>**EXPENDITURE ON**<br>Raising funds<br>8,372<br>269<br>**Charitable activities**<br>Harmony & prayer activities<br>49,064<br>2,809<br>Addington Park estate<br>19,319<br>14,299<br>Conference hall & meeting centre<br>5,985<br>2,627<br>Guest cottage rents<br>16,755<br>538<br>Lilacs meeting room & kitchen<br>3,590<br>115<br>Grounds & garden maintenance<br>13,162<br>423<br>Other<br>-<br>-<br>**Total**<br>116,247<br>21,080<br>Net gains on investments<br>-<br>14,577<br>**NET INCOME**<br>24,082<br>658,794<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>(639)<br>-<br>**TOTAL FUNDS CARRIED FORWARD**<br>23,443<br>658,794|2023<br>4<br>Endowment<br>funds<br>£<br>1,000,275<br>15,542<br>1,015,817<br>404<br>2,365<br>1,096<br>288<br>808<br>173<br>634<br>-<br>5,768<br>21,865<br>1,031,914<br>-<br>1,031,914|2022<br>4<br>Total<br>funds<br>£<br>1,795,541<br>25,902<br>1,821,443<br>9,045<br>54,238<br>34,714<br>8,900<br>18,101<br>3,878<br>14,219<br>-<br>143,095<br>36,442<br>1,714,790<br>(639)<br>1,714,151|
|---|---|---|



Page 13 

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The Seekers Trust 

## Notes to the Financial Statements - continued for the Year Ended 31 March 2023 

## **9. TANGIBLE FIXED ASSETS** 

|**TANGIBLE FIXED ASSETS**||
|---|---|
||Plant and|
||machinery|
||£|
|**COST**||
|At 1 April 2022|61,159|
|Additions|1,011|
|At 31 March 2023|62,170|
|**DEPRECIATION**||
|At 1 April 2022|6,116|
|Charge for year|6,216|
|At 31 March 2023|12,332|
|**NET BOOK VALUE**||
|At 31 March 2023|49,838|
|At 31 March 2022|55,043|



## **10. FIXED ASSET INVESTMENTS** 

|**MARKET VALUE**<br>At 1 April 2022<br>Additions<br>Disposals<br>Revaluations<br>At 31 March 2023<br>**NET BOOK VALUE**<br>At 31 March 2023<br>At 31 March 2022|Shares in<br>group<br>undertakings<br>£<br>105<br>-<br>-<br>-<br>105<br>105<br>105|Listed<br>investments<br>£<br>1,218,041<br>404,641<br>(445,579)<br>(71,056)<br>1,106,047<br>1,106,047<br>1,218,041|Cash and<br>settlements<br>pending<br>£<br>36,110<br>52,452<br>-<br>-<br>88,562<br>88,562<br>36,110|Totals<br>£<br>1,254,256<br>457,093<br>(445,579)<br>(71,056)<br>1,194,714<br>1,194,714<br>1,254,256|
|---|---|---|---|---|



There were no investment assets outside the UK. 

Cost or valuation at 31 March 2023 is represented by: 

|Valuation in 2022<br>Cost|Shares in<br>group<br>undertakings<br>£<br>-<br>105<br>105|Listed<br>investments<br>£<br>77,862<br>1,028,185<br>1,106,047|Cash and<br>settlements<br>pending<br>£<br>-<br>88,562<br>88,562|Totals<br>£<br>77,862<br>1,116,852<br>1,194,714|
|---|---|---|---|---|



The company's investments at the balance sheet date in the share capital of companies include the following: 

Page 14 

continued... 



The Seekers Trust 

## Notes to the Financial Statements - continued for the Year Ended 31 March 2023 

## **10. FIXED ASSET INVESTMENTS - continued** 

## **The Seekers Trustee Company Limited** 

Registered office: The Lilacs, The Close, Addington park, West Malling, Kent, ME19 5BL Nature of business: Property income 

|Nature of business: Property income||||
|---|---|---|---|
||%|||
|Class of share:|holding|||
|Ordinary|100|||
|||2023|2022|
|||£|£|
|Aggregate capital and reserves||(8,845)|(7,076)|
|Loss for the year||(1,769)|(1,769)|



## **The Seekers Gift Shop & Café Limited** 

Registered office: The Lilacs, The Close, Addington Park, West malling, Kent, ME19 5BL Nature of business: Gift shop and café 

## **11.** 

|Nature of business: Gift shop and café||||
|---|---|---|---|
||%|||
|Class of share:|holding|||
|Ordinary|100|||
|||2023|2022|
|||£|£|
|Aggregate capital and reserves||(609)|(656)|
|Profit/(loss) for the year||47|(271)|
|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
|||2023|2022|
|||£|£|
|Trade debtors||463|282|
|Amounts owed by group undertakings||177,851|177,902|
|Other debtors||2,131|2,212|
|Prepayments||28,727|25,627|
|||209,172|206,023|



## **12.** 

## **CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Trade creditors<br>Social security and other taxes<br>Other creditors<br>Accrued expenses<br>Deferred income|2023<br>£<br>33,049<br>709<br>744<br>5,491<br>1,932<br>41,925|2022<br>£<br>29,528<br>750<br>144<br>5,191<br>2,997|
|||38,610|



Page 15 

continued... 



The Seekers Trust 

## Notes to the Financial Statements - continued for the Year Ended 31 March 2023 

## **13. MOVEMENT IN FUNDS** 

|At 1.4.22<br>£<br>**Unrestricted funds**<br>General fund<br>(6,580)<br>Designated fund - D Fisk legacy<br>6,440<br>Designated fund - A Yates<br>23,583<br>23,443<br>**Restricted funds**<br>Harmony & prayer circles<br>97,959<br>Addington Park building fund<br>276,638<br>Chapels' refurbishment<br>35,143<br>Garden and grounds<br>37,196<br>Publicity and advertising<br>136,736<br>Conferences and promotional activities<br>58,640<br>Tree appeal<br>12,067<br>J Morris legacy<br>4,415<br>658,794<br>**Endowment funds**<br>Garden and grounds<br>412,596<br>Publicity and advertising<br>137,528<br>Conferences and promotional activities<br>68,773<br>Harmony & prayer circles<br>69,194<br>Expendable endowment<br>343,823<br>1,031,914<br>**TOTAL FUNDS**<br>1,714,151<br>Net movement in funds, included in the above are as follows:<br>Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General fund<br>106,891<br>Designated fund - A Yates<br>-<br>106,891<br>**Restricted funds**<br>Harmony & prayer circles<br>7,965<br>Addington Park building fund<br>4,020<br>Chapels' refurbishment<br>-<br>Garden and grounds<br>4,826<br>Publicity and advertising<br>1,608<br>Conferences and promotional activities<br>806<br>Tree appeal<br>2,203<br>21,428<br>**Endowment funds**<br>Garden and grounds<br>7,239<br>Publicity and advertising<br>2,411<br>Conferences and promotional activities<br>1,207<br>Harmony & prayer circles<br>1,208<br>Expendable endowment<br>6,032<br>18,097<br>**TOTAL FUNDS**<br>146,416||Net<br>movement<br>in funds<br>£<br>(25,518)<br>-<br>(1,000)<br>(26,518)<br>3,852<br>(15,572)<br>(77,571)<br>(9,527)<br>(3,175)<br>(6,170)<br>2,046<br>-<br>(106,117)<br>(14,290)<br>(4,763)<br>(2,383)<br>(2,382)<br>(11,907)<br>(35,725)<br>(168,360)<br>Resources<br>expended<br>£<br>(132,409)<br>(1,000)<br>(133,409)<br>(1,955)<br>(8,810)<br>(77,571)<br>(1,413)<br>(471)<br>(4,818)<br>(157)<br>(95,195)<br>(2,119)<br>(706)<br>(353)<br>(353)<br>(1,766)<br>(5,297)<br>(233,901)||Transfers<br>between<br>funds<br>£<br>(42,428)<br>-<br>-<br>(42,428)<br>-<br>-<br>42,428<br>-<br>-<br>-<br>-<br>-<br>42,428<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>Gains and<br>losses<br>£<br>-<br>-<br>-<br>(2,158)<br>(10,782)<br>-<br>(12,940)<br>(4,312)<br>(2,158)<br>-<br>(32,350)<br>(19,410)<br>(6,468)<br>(3,237)<br>(3,237)<br>(16,173)<br>(48,525)<br>(80,875)|At<br>31.3.23<br>£<br>(74,526)<br>6,440<br>22,583<br>(45,503)<br>101,811<br>261,066<br>-<br>27,669<br>133,561<br>52,470<br>14,113<br>4,415<br>595,105<br>398,306<br>132,765<br>66,390<br>66,812<br>331,916<br>996,189<br>1,545,791<br>Movement<br>in funds<br>£<br>(25,518)<br>(1,000)<br>(26,518)<br>3,852<br>(15,572)<br>(77,571)<br>(9,527)<br>(3,175)<br>(6,170)<br>2,046<br>(106,117)<br>(14,290)<br>(4,763)<br>(2,383)<br>(2,382)<br>(11,907)<br>(35,725)<br>(168,360)|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
|||||||



Page 16 

continued... 



The Seekers Trust 

## Notes to the Financial Statements - continued 

## for the Year Ended 31 March 2023 

## **13. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>General fund<br>Designated fund - D Fisk legacy<br>Designated fund - A Yates<br>**Restricted funds**<br>Harmony & prayer circles<br>Addington Park building fund<br>Chapels' refurbishment<br>Garden and grounds<br>Publicity and advertising<br>Conferences and promotional activities<br>Tree appeal<br>J Morris legacy<br>**Endowment funds**<br>Garden and grounds<br>Publicity and advertising<br>Conferences and promotional activities<br>Harmony & prayer circles<br>Expendable endowment<br>**TOTAL FUNDS**|At 1.4.21<br>£<br>(639)<br>-<br>-<br>(639)<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(639)|Net<br>movement<br>in funds<br>£<br>(5,941)<br>6,440<br>23,583<br>24,082<br>97,959<br>276,638<br>35,143<br>37,196<br>136,736<br>58,640<br>12,067<br>4,415<br>658,794<br>412,596<br>137,528<br>68,773<br>69,194<br>343,823<br>1,031,914<br>1,714,790|At<br>31.3.22<br>£<br>(6,580)<br>6,440<br>23,583<br>23,443<br>97,959<br>276,638<br>35,143<br>37,196<br>136,736<br>58,640<br>12,067<br>4,415<br>658,794<br>412,596<br>137,528<br>68,773<br>69,194<br>343,823<br>1,031,914<br>1,714,151|
|---|---|---|---|



Page 17 

continued... 



The Seekers Trust 

## Notes to the Financial Statements - continued for the Year Ended 31 March 2023 

## **13. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|109,306|(115,247)|-|(5,941)|
|Designated fund - D Fisk legacy|6,440|-|-|6,440|
|Designated fund - A Yates|24,583|(1,000)|-|23,583|
||140,329|(116,247)|-|24,082|
|**Restricted funds**|||||
|Harmony & prayer circles|98,444|(1,457)|972|97,959|
|Addington Park building fund|283,408|(11,629)|4,859|276,638|
|Chapels' refurbishment|35,174|(31)|-|35,143|
|Garden and grounds|36,124|(4,759)|5,831|37,196|
|Publicity and advertising|135,306|(513)|1,943|136,736|
|Conferences and promotional activities|60,359|(2,691)|972|58,640|
|Tree appeal|12,067|-|-|12,067|
|J Morris legacy|4,415|-|-|4,415|
||665,297|(21,080)|14,577|658,794|
|**Endowment funds**|||||
|Garden and grounds|406,157|(2,307)|8,746|412,596|
|Publicity and advertising|135,382|(769)|2,915|137,528|
|Conferences and promotional activities|67,700|(385)|1,458|68,773|
|Harmony & prayer circles|68,121|(385)|1,458|69,194|
|Expendable endowment|338,457|(1,922)|7,288|343,823|
||1,015,817|(5,768)|21,865|1,031,914|
|**TOTAL FUNDS**|1,821,443|(143,095)|36,442|1,714,790|



## ENDOWMENT FUNDS 

The Endowment Funds were donated to the charity during 1984. The income from the Permanent Endowment Fund may be used for activities detailed above. Income from the Expendable Endowment Fund may be used for the erection, replacement and major improvements to the buildings at Addington. The capital of the funds may be used only if insufficient income is available to carry out erection, replacement or major improvement to the buildings at Addington. 

The Endowment Income Funds were created following a transfer of the income accumulated in the Endowment Fund. The original letters of intent establishing the gift of £750,000 state that the capital sums should be maintained and not used for any reason other than to provide income for the purposes specified. This accumulated income was divided in 2005 into the new Restricted Funds in accordance with the original allocation. Incoming resources in these funds arise from investment income received in respect of the Endowment Funds invested. This income is allocated in accordance with the letter dated 7th August 1989. In addition, whilst the restricted funds continue to be invested, the income derived from such investment is added to the Restricted Funds. 

## RESTRICTED FUNDS 

Included in Restricted Funds is a legacy received from the late J Morris, specified for the maintenance and upkeep of the Rose Garden. This fund will be utilised over a number of years. 

The Tree Appeal was set up to assist with the replacement of trees lost in the storms in the year ended 31st March 2014. 

Page 18 

continued... 



The Seekers Trust 

## Notes to the Financial Statements - continued for the Year Ended 31 March 2023 

## **14. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 March 2023. 

## **15. INCORPORATION OF THE SEEKERS TRUST** 

With agreement of the Charity Commission, the assets and liabilities of The Seekers Trust, an unincorporated charity with charity number of 222877 were transferred into this limited company by guarantee with charity number 1186773 on 1st April 2021. 

## **16. GOING CONCERN** 

No material uncertainties that may cast significant doubt about the ability of the charity to continue as a going concern have been identified by the trustees. 

Page 19