REGISTERED COMPANY NUMBER: 114%998 (England and Wal9$1 REGISTERED CHARITY NUMBER: 1186773 Unaudlt•d Fl t•mgnts • Yoar End•d 2024 Th• Seekorn T mcle Revj Charkred A(LcoJntants 1 Forstsl Road Ae5f0rd Kent ME20 7AU
Flnancial Sta r End8d 31 for R•portofthe Tru•ts 1 to 5 Inthpendent Examln•f• Report statom•ntof Flnanclal Actlvltlel Bahne• Sh8•t 8 to 9 NDto8 to th• Flnanclal Statemgnts 10 to 18
nwn r 11496 rtof •Tru rthey The Iwstee5 who are also direclots 01 Ihe chanty lor the purpow of the Cunpanw Act 2fA6. prnt thr report vthh the finarri81 staternents of th8 tharity for the year 8nd&Y 31 IAarch 2024. The trustees have •Jopt&4 tho prow5ions of Accountr"ng and Reporbryj by Charth'e$." Statem•nt of Rewmrnended Practice appl6 to thore$ pr@pari their acts)unts In accordaw8 wth ts Finanaal Rèwrtirg Standard p1rb1e in the UK and Republic of Irdand IFRS 1021 leffethve 1 January 20191. OBJECTIVES AND ACTNm&8 Obie¢tlve8 IifKI aims The S88k8rs Trust was founded on 12th May 1932 for the promotvjn of the welkbeiro of mankind and in parbujlw fts spiritual, m¢ntal and FysKal rnration and healing by mèans of Christian farth and prayer. The objeth"w$ ol the tharity ar& to reliev¢ those in n88d and in partKJJlw the sth. those in pocf hèath, suffefiryJ from relats"ortship diffiCutt or spiritual utsis and to promote publ healiry by the prowsion and prixnotr'on ol spiritiJ healirrfJ for the trenefft ol tre publ by teachin9 and training sprtual and by ensuring proper standards in Ihè praocE of spwrtual healiThJ. ACHIEVEMENT AND PERFORMANCE Charltxblg actlvlde8 year has been a tsm8 for refle¢tiLw for The Seekers Trust gi Ihe significant changas eX[rEn dunrKJ th¢ last elve nK)nths. sud) as the restNcturing of th8 Company, whKh is now comp. the refvTbishm8nt of thè thapels a otsr key change$. Two trustees and a mernber of stsff lgrd unexpectedly in Juty 2023 which18ft three Trustees in h8rg8, bLrt fortunatety, as a Wrd still qUate and so ats to ¢onb'nue busiress as usual. and in accordan tt) our goveming doujment, Arbdes ofAssoath'. and M line wth The Charity C¢mrnission's guKJelines and regulations. hèKI our Annual General M8edNJ on Sthrday 17th February 2024 wa5 well attèThY8d with 23 members in aiteThJan¢e. Additionalty, John Champion. reSentirj our accountan15 Mdean Rekl, attendad a5 a guest speaker. 8efore the formal ytrthdings CLIMMen lh8 Chairman. Ronn MdQnl8y, anntsune¢d that The Trust had r8c8ivéd notifie2tion that Josef Schmied, a p88t Chairrnan of the Trust and arn a¢tive rnember for many yggrs had pass•J away suddanty In D9rnber 2023. The Trustees %%Elcom the opportunity lo give a Pfesentation provKJiry aTr insw3ht into WO in prtyJre5s and the Truste8s Mskin for the k)ThJ term fijture ol thè Trust This induded a new b$it$, which is key to prth"ng th¥ Trust to wider audien, CorTwtiry the chap81 refiJthshm¢nL and IMpM&nt1TrJ strabJio¥ to irKrease rnember5hips and enhan r&vanuè grobvth and fundraising actimS in the ftrture. In Juty 2023. our gardening team. Four Seasons Gardon8 Lirnrted, adw5ed us Ihat they were wndirrtJ their )mp8ny health grounds, and gave us three months mti¢o. pul the contract out to teer and wth the hdp ol The Asso(iati¢m of ProfessK)nal LandSCar5 pJents'fied a rEw o)mpany. 8geYostone8 Limited, who took ovèr our garden work in November 2023 Thèy have been instructed to pay pArtI8r attent'on to our Gardèn of remembraTh and ok forwatd lo wirKJ res crf th8ir8fftJrts atour next RembranC Oay in 2024. undartook a ftjll Insuran wth our current brokers, TtsweffJate Insuran 8roker5 * the beginning of thi% year. eTh sel up our rEw limti8d company in 2022 we c2rii8d out an ffleent valuatr'on ol our estste and realised that our rebuik1in9 tosfs Insuran was prcoabty undervalued so had our br(ers cary out a new RICS valuakn'on which resutted ITr an ir¢98d premium of £19,lJ)O in 2023 wsU5 £14.1)JO in 2022. In 2023 we chat¥Jf insurers whith r8sutt8d in a lower premium sawng £3.51X) p8r annum. The Trusteos have so many p0) to thank for theii support Staff. volUnteS and 8v8ryonè invow in maintainiNJ the Trust The TnJstèÈ$ apFwate fvlly that wthout their muth valuwj efforts the Trust could not continue to su1V6. We uld also like to thank those larnilies who have donated legac$ to Th8 S8ek•rs Trusl and to Ihose who gave donations. This i* much aFPreCted, 8ThJ will ensure thatthe funds are used in the upkeep ofthe Tr¢At Inv•stment p•rforniane• The management of our investsnent rx)rtfolio in the hands of IPS C4)tsl LLP. Pagg 1
k•rs Tr numbor. ofth•T h 2024 FINANCIAL REVIEW Flnancll po8ltlon Our currant inlMent portldio atth• end of Mard) 2024 was yed al £1,302,786l223.' £1.194,6111. The breakdown parcèntag8 of our invesbngnt portfolio 15 as foll0h". Portfolio Cash Property & Infrastrucbj Fixed Inccme 1.0% 7.1% 380% 51.0% 2.9% At6olute Rthm Leyocs totalling £2,OI2023.. £25.0001 w8r8 reIVed durin9 th? finanual anding 31st March 2024. Detail8 ofts In(xJme and ExpeThl1re fcf ts year on t• found on page 7 ofthe Fin8nL?81 Ststomgnts. Invoslm6nt pollcy and objecti In aceA)rdance with the Trust Deed. tha board of trustees have the pjver to leSt hjnds not immediately required lor purpose of tre charrty, in the narne of the Trustee Company, in or on any inveslments lindudiro tho purthw of freehdd or leasehold landl as th8 board of trusto8s shall. cn the advKe of ts finanaal adsL¥S given at the bme of invésknrt se Resprvg8 pollty 111. UnrèstriLted ftnds Unrestn"¢ted funds amountsd to 1£29.4CQI. 12023.. 1£4S,$0311, of £40.89212023. £46.7041 was n¥ted in fNed assets. The trustees are undar a duty to act the charitys t$1 interests tts managè rts r8sourcas r8sponsLIty. The hddirg of soma Unrestrtsd reserves is an imFX)rtant part ol managing risk, $0 the trustees wll endeavour to ensurè lh arn ratumed to pjsitive as soon as poswbb. 121. Resbi¢ted funds Th8 Cttapel's refvrblshmenl ftjnd has utilis&J towar[15 the rA)st of pathw8y lighting. In 9¢)rdan the stated counting policy thi$ has ba8n c4pitalLsed and the is teing usad to cover Iha cost of Ihe annual deprecith'on ¢horg&. The Endcthment income restricted frjnds wara creat•J foll)wiro a transfer of the incorne 8¢oJmulatèJ in the Endcwmient fijnds. To avohl a large ¢ficrt on un$tricIe fvTrJ$, the trustees ha¥e deCId to utilise some of the Gardens and Grounds stricba lund lo co¥er the Gardens and GrourKI maintanc costs. This fijnd was Ffoided for the upkeep of th& Garden and Grounds but historKalty we ha¥è US the interest and have rnanaged lo mèèt th8 remaining costs frLYn unf8strKtsd fvnds unfortun8ttr wa hav8 been unablè lo do fr)r lastkny years. 131. Endowment fvnd The Endowment fund was donated to the Charity on 7th June 1984. In¢m d8rNed frcrfn rt May b8 for acb'vibes rolatirrfJ to Ihe Harmony Pr8yer Cirdes, wbl¢city and #dr"Sirj, Ih8 upkeep ol the gardens and grends. aThJ for o)nlerence5 and ptcKnotional ath"t$. The inoxxng from the expeTwJable dowment ftJr¥J may t used for th8 erection. plac8rnent refvrbishn*nt of th8 bU11ngS at Addiffjton. Th8 capital from Ihi5 part of the original gift 1£2SI.LK)01 rnay te Lssed rflhe income ig imuffiaent for Ihiq latter purpose. Pag9 2
The 8• num r.11 rt ofth Trytres ed31M FUTURE PLANS Work will continue to eompbts the cha1 r$fij1$hrnents at the &artt opportunty. Building work 15 almost COmpts the major outstsnding requir8mènts are the windows in all the chapels whleh originalty re g)ing to IR replaced. The TNstees are presenty seeki addits"ornal quote5 for a numb8r of allemat've solubons. In the rran"m8 fixtures and fitbngs such as lights. r8(fi8tor5, Attar and sath.ng have t)een chosen and are either in Store or on ord8r. We Mll ntin to keep you athsed of pro9r95S. The Trustees aro 01 tha opinion that a tearwn #nd shop where nmtr8 and Msitors Can meet and enjoy all tl frd¢ilib"8s on offer is the naxt irnportant step. Buil¢J8rs 8rYJ architects are curr8ntty being lined up for quotes and plans. Followng on from mÈrnbers comments at thÈ AGM various srtes are urKJer o)nsA1eration and are being k)oked al by prolessionals teforndwdirv3. This will bo th8 next w'ority on oMptr.0n ol the ch15. In line wth thapel refiJth$hment we are $0 loc4(ing at d8velowng rolationshw with like mindad charrb'es and organisth.ons to offer our facilities for hiro Charibes such as McMIILgn$, Ajtsmer Sc•, TÈÈn&Je Carr Trust. Samaritans, Mind and other similar organisatrons. Off8ring remembrance and trx8nt 88NQg to a wder populat'on of Ic¢al fvneral directors celebrants whKh may aL%o provKl8 gn ry)pothrity to expand Ouf Garden of Remernbranca ar%1 in¢Ye&8e the iytake on Rernembfan Day attendees. ill continue In our primary rob as 1'rectors to &rtsura that th? WO ol prayer hèaling continue5 to grow and llounsh and en)Urage more linkws. Conts'nue on dewk)ping and wden our off8rfrKJ8 to intrease nmb8rsh¥), SUFP)rt and intrease revenues in¢luding lurnJraL8ing acb'vfa65, 8ndeavwriry to inttease staff and volunt8èrs as fequired. The most import2nt factor for us is to ensure thè susta'nabilfy of The Seekars Trust through the next stag8 of its evolub.on and history. STRUCTLRE, GOVERNANCE AND MANAGEMENT Govèrnlng document Tha Saekors frust Charity o)nstitut8s an Incorpal tharty and is a¢knirMst8r8d by its Artic3 of Association adq)t& 10th November 2019. Thè charity is a limrt&l company, lmrtwj by guarantèe. as defined by the Comp8nitss 2(KkS The charitys Art"¢les of Associabon ajopted Iha Trnt De¢d dated 7th May 1933 and Iha Now Trust De&J dated 23rd March 1986 together wilh thg Suppk8rnental Deed dated 28th Jure 2QX)3 and amendments dabj 16th Septtrer 2(Lfj. 6tr SeOerntEr 2010 an(J 10th Saptèmber 2011. CharSty con8titirtlon The Seekers TrLtst Chanty n91rfutes an rKcYporated charty wfth a regtsterth ¢hanty nurnberol 1186773. R•ernllrn0nt ond appolnlm•Trt ol n•w trn•tO88 The trustees ol the tharty We elect&J by the membership an¢ 8eNè 8 temi of three years. Rety'rwnent is by rotation but, rf Ihgy %h, tNstees may bè r•416c¢ed by the rnembership at either an AGM or EGM. The board ol truslees of charty shall nsISt of not less than three Ihwdnafter referred to as trustee$l elg¢t&l to office at an Annual or Extraordinary Genaral Mgeting olthe charity. Dod$lon maklrni The trust889 (leterynwe the general polry ofts charity and have coMpld with the duty in Section 4 of thè Charibes ac 2011 to have due regoril to guidance puLShed by the Charity CommissNJn, induding Publ iErefft guhjanct. lt the staffing poliw and organisats"oMI asp8cts of tharty CLJntinLte to bè un¢•r revivw, the chaimian and trustees aLs0 manage the affah of the Trust and en$ur8 that the Trusts, Oicies are 1rnpknnted. The caimars portS to the other lJustses at thèir rggul8r meeb'TrJs aNJ this inlomation, al9 wth any r8cx)mmgndations, a discussad and derjsions ar8 made by the board. The trust88s approve all major and non- foub.nè expenditure before 8 fX)mmrtrnent is rnade and they review tho quartedy income and expenditu accounts a regular basis. Inductlon and tsxlnlng of now trust1 Thara is ¢wrrenty no fomia training progr8rnme in place for rW trust•gJ as all are existing mambors of The Seekers Trust. therefore they know and understaThJ the woth of tha tharty and are faMIar with th8 grounds and faalthos at AddirKJton. Any new trustee can be 4)pointed by resoluiion ol membgrs 8t an Annual or Extraordinary General ting of the chanty. Tha sètretary of the charty shall. at thè same tme as nots"fying the mèmbers of the date an¢J tim8 of the General Meeting, invrte marnbers to submit rnamos of ¢sndKlates, shall have boon nmbers for not ths than one year, lor a8 trustee5. Narnas of ¢ar¥Jidates for dection at thè G1 MeetiThJ must b8 submrtt&Y in wrriting by a proposer rnemb•r and a•)Yed in writsng by anothèr mèmber (both ol %thom shall ha¥¢ been members for not Ihan tsvo years ¢¢nts'nuouslyl. P•ae 3
ofthe Tru8 Year End STRUCTU GOVERNANCE AND MANAGEMENT Rl•k managgmont The trustees have a duty to id8nts.fy and rev ts risks to which the charity is exkKJ8ed and to 8nsure approprte conlrols are in plw to pro¥Ade reasonatle assuran aga¢nst fraud and error. 111. monitIng ol nsks The Seokers Tnjst trustees comè from a wd8 vam of bad(grounds and togèthar possess a balartce of tharrt8bk8. ethical. Spiritual and comrneroal èxperience. The trustees monrtor the risk$ ol th8 tharty al their regular meetings. ere rrSs8ry Seekers Twst ernOYs Prof10nals to advise on inve5tmenl Unting. 81 mattars and any other vant area5 in fflanan9 our ests19s and property. Th8 proper insuranc4 agreements are in place to protec our 8SSats and ernployee8 Our m4or rk i8 in finding th& right F4rsons to act as tnjstees.. those atg IMted to thwr task and wth thè s1, kn¢)WIÈé and •xp8ce which we ne&Y. 11 Is important lor us to get b)e right rnix of trustees board. lftJstè8S Wth a stroTrJ personal cornmthent to our aims and objectr'ves. in order for us tts have a baland and effectwe board and a well govem•d and •ffactiv• charty. (21. Heatth and SafW matters The trust8e5 are aware of their legal cblvJatM)ns uTrJer Hedth and Safty 1ègisLgtion, and continue to monitcf the leg uirements trwt affect the charity. 131. Instsn8ntS Th trusta&s conskl8r that the pr&Nation ¢f caprtal in terms ol tha valu• ol the insestrnents is paramount and ad(nowdge that there is a neéd tr) g8n8rat• incLJme to meet the exendIre plans tyJsts of ruming Addiryton estate whilst other stre$ are developed. IPS Caprtal LLP loc after tho d)arW$ In%ents and hjld fvTrJs rather indwK1U equty inve$trnonts. This reduce$ the le¥al of nsk and variations in Ihe value of Ihe in¥estrnenl porlfcAio. The invgstrn8nts are managed on their DIVefir Stratrfy hthich seeks to provth in¢cme aNJ growth whilst protecling caprtal and so m881 thè Trusfs obj'ectives. 141. Ofvrefjntrofs and disaster planning Reportire systerns and day to day CLJntrds are lnon1tc rpgukrfy, ar¥J lh$ trustaes aro confident that hawro reviewed thèse, and by conts'nuing to do so, risks wll ¥Jentified prcfflpty, and their effeds we-emptsd i)r contsined to managgab18 pwrhons. IS). Trustees. revBws The board ol trustees meèts, at a minimum, on a monthty ba5. The thaiman of the trustee$ atte$ the office on a minimum of days FEr week whilst 0th8r trustees make themsel$ availab on an hoc basis as requ¥ed lo review and rnan8 lh¢ charitys alfairs. REFERENCE AND ADMINk%TrATIVE OETAILS Regl¥tored Company numb•f 11496998 IEll9Lgnd )d VVal8sI R•glstered ChJrtty numb 1186773 R•gl•tw8d offie• The Lilacs Thé Closè Addingtorn P8 t Malling Kent ME1958L P¥4
Th 1496 for • Y•ar Endod 1 Mareh 2024 Trt Mrs K Searfe Trustee Ir8signed 31.7.231 Mrs J BUMII Truste8 Ir8s¥Jned 31.7.231 Mrs E Parkar Trustee R Sm¢ker Trustee R J M¢kinby Truste8 Ind•pond•nt Examln A M Réid FCA M¢Lean Raid Ch8rter•J Accountsnts 1 Forstsl Road AY$fOrd ME20 7AU pprov8d by ortter olthe board of Intstges on 20 August 2024 and sign1 on rts b8haW by". R J Md(In y- Tte8 Pagè S
Ind nd•nt Inerf The Ind•pond•nt ox4minof• r•porttrJ tho tru8t•u ofThe $8•k•rn Trust (Yhe Company'l I rawrt to the thanty trustees on rny examination olthe aLwunts ofthe Ccryany forthe year ended 31 March 2024. R••poD¥LbMMl•s and ba618 of report As the charitys trustees of the Company18rn1 also its directors lor thè purpose5 of rMpanY lawl you are respon•b for tre preparats'on ol the aCunts in ac£ordan¢e with Ihe requirements olthe Compan$ Act 2Cth Cthe 20C6 Acti. Hawng satisfied my8811 Ihat the &counts of the Company are not requir8d to be audit&1 under Part 16 of the 20C6 Act and are glwJibla for IndeFendert 9xaminalion, I report Iri resP&t ol my 8xaminatic of your d)aritys acrJ)unts 8S ¢grried rt under SectKJn 145 of the Charityes Act 2011 Ilh8 2011 Acfl. In carying OLrt my examinats'on I ho Yollod the DitBctions given by Chanty Cornrni8siLx) und¥r 14q51 Ibl ofthe 2011 Acl. indepgnthnt•xamlnerf8 Statomorrt I hav8 COMpd my exarninats"on. I confinn that no mattars have corne to rny attgntion in connection wth th9 examinatbon giviNJ m$ Cae to belN?ve' 8ccountsng recordsMre not kept in resFeCt ofthe Company as ¥equired by Seclon 386 ofth8 2Crf)6 Act., crf the ar£LJunts do not acccxd wth those records", or IhÈ aett)unts do not cornply 7th th8 acLounting reqUIrents ol Sathon 3 of the 201% Acl other than aThy requirement that the Accounts give a true and fair View which is not 8 mattw ¢yJn$vJered as part of an indepèThaant examination., or the accounts have not pr•pared in aco)rdance with lh8 mothods and principles of tha Stat8ment of Recornrnended Pracbca for acry)unts'ry and reporb.ng by charib"&s laFplicable to chants.es pparing their accounts in accordar with the Finanual Reporting Standard aFplicaWe in Iha UK RepLtj1 of Ireland IFRS 10211. I have no 0)nrnI have come xross no other mattèrs In connection the exarninabon to which attanticn should be dra in this report in order to enabk a understanding ofthe athnts to be leached. A IA ReJ FCA McLèan R8kY CharterY Ac£ountsnts 1 Forstal Ro1 Ayl&sford Kent ME20 7AU 21 Awjust 2024 P•Je e
k•rn Trust t•m tsfFI Year En nelal Activltles 2024 Total fvnds 2023 Total fvn(ts Unstricj fvNJ$ ReBtricted fiJnd8 EOInant fvt¥J8 Nota$ INCOME ANO ENDOWMENTS FROM Dmatons aThJ 89,133 9,379 98,512 112,114 Investsnènt income other Income 11 3,390 12,947 19.425 32,383 3,390 30,165 4,137 Total 92,534 22,326 19,425 134.285 146,416 EXPENDrruRE ON Raraing 7,820 42,839 29.781 Charltabl• aetrlti Hamiony & prayèr actimbes Addington Patk estate Confer8nca hall & meebng centre Gugst cottage rents Lilacs meètiro rocKn & 'tchen Grounds & garden mwntenarKe 45,789 21,875 49.601 16,336 2,249 97,639 39,255 112,088 32.338 274 15,766 22.125 4.717 13,29) 11,084 18,280 16,049 14,301 21.062 4.442 12,285 110 402 Total 118,859 111.285 5,487 235,631 233.1 NBt gainsllloss8sI on in¥astrnents 33.978 50,970 180,8751 NET INCOh1(EXpENDlTuREl Trnnsfèrn lknen funds 126.3251 42,428 154,9811 142.4281 64.9C 196.3981 1168.3601 13 Net mov•mont In fund$ 16.103 197,4091 64,8 116,3961 1168.3601 RECoNCILTION OF FUNt)s Tot81 fijnds brtsught forward 145,XJ31 595.105 998,189 1,545.791 1,714,151 TOTAL FUNDS CARRIED FORWARD {29.4CKII 497,696 1.061.CQ7 1,529,393 1.545.791 The notès fomi part ofts5e financ¢al ststernents Page 7
Balan 31 2024 Total fiJThYs 2023 Totsl bjnds unrèstri RestTrded EThJoYmient Thjs fvnds frJThY$ Notes FIXEO ASSETS TangibLe assèts In¥wtrnents 40.787 10S 2,835 521,114 43,622 1.302.892 49.838 1,194.714 10 781,673 40.892 523,949 781.673 1,346.514 1,244,552 CURRENT ASss DebtNs Cash at bank and in hand 11 207,795 {2%,4291 11,750 137,6821 219,545 5,313 209,172 133.992 279,424 128,8341 125,9321 279,424 224,858 343.164 CREDITORS Amounts fdling duè wfthin one 12 141.6581 13211 141.9791 141,9251 NET CURRENT ASSEfsuuABILITIESI 170,2921 126.2531 279,424 182,879 301.239 TOTAL ASSETS LESS CURRENT UA81UTIES 129,4C4)1 497,696 1,C61.097 1,529,393 1,545,791 NET ASSETS 129,4001 497,696 1,rA$1.097 1,529,393 1,545.791 FUNDS Unrestrictwj funds R8stricted funds Endovmient ndS 13 129,400} 497.696 1,C61.097 145.503 595.105 ,189 TOTAL FUNDS 1,529.393 1,.791 The charitabb cornpany entiled to axemption from audit under Section 477 of th¥ CompanEs Act 2C(6 for the year ended 31 March 2024. The members have not required th8 eomp8ny to obtain an auth't 01 rt3 fillanryal statetrnnts for the year end& 31 Marth 2024 in accordan with Section 476 ofthe Comp8nw A¢¢ 2fj. The tnjstees acnoe49e tt)eir rèsporsitslits for lal enwrirYJ that the charitable company k•eps acctsjnb.ng records that ts)mpty wth S8don$ 386 and 387 of the Companie5 Act 20C6 and prep8rirvJ fin8noo1 statements whieh gi% a tru8 an¢J tsir wew of the stsle of affaits of the chatttabk company a5 at l• ènd of each financAal year and of rts sutplus or deficit for e8ch finan81 year in accordan the rgquirements of secOr 394 and 395 and which {theise ts)mpty with Ih8 r8quir8ments of the Comp8nw A 20C6 r•lang to finarrial 8tstem8nts, so faras aFylIcab to the thari¢at o)mp8ny. (bl Tha notes fonn part 0fttr fin¥noal $tatsments Pag& 8 Conts'nu...
Th• is et- GOnrt 1Ma These financ4al statamènts have been prapared in accordance with the pro*isions appl¢able to charrtabb wnpanvas subj'ect lo the small Compan regin8. The financial Statts werp apwovgj by the 608rd ol Trustee$ end authori58d for r•sue on 20 August 2024 8ThJ were 9gned on ts behalf by". R J Mckin18 . TAL4tee .p E Path8r- Ttu Rsmo . Twstso Th& form part ofthese finanrial ststements Pag8 9
tat8m•nts forthey r Ended 31 ACCOUNTING poLlEs Bas18 of pr•parlng tho flnanclal statsm•r The finafiryal statements of the charitabl¢ v)mpany, which is a publ benofft enoty under FRS 102, have teen pr8par8d in aco)rdallrA wth tre ch8rth.ès SORP IFRS 1021 A¢¢4)unts"ng and Repothw by Chares.. Statement of Reccynmended Pra¢tice applicab to charibes proP8rfng trir accounts in accordarKe with th8 Finanoal Rèporting Standard applicable in UK and Rapublic of Ireland IFRS 102llgffed 1 January 20191,, Financial Rertift9 Standard 102 'The Finanaal Reportiro Stsndard 8pplicabke in the UK and Republ of Ireland arKI t cOrnpan Ad 20L. The finanaal statements hav9 been ppad uThJar the historical c>)5t COTwention. with the extspkntsn of Investments are Includèd at rnaet value. as mOdid by the rev8luatitin ofe8rtain assets. Income All income k8 r8u)gnised in Ihe Staternent ol Fin8rKi81 A¢b"wts"es On the charty has tieMent to the fvnds. (( 1$ probable Ihatthe inccfne will te r¢LW8d and th8 amount can be measured relig1Iy. Expenditure Lale$ ara raeognised as exFenditur8 as sryjn ag thérè ra a Wal or constructive cèlvJatKJn comrnitbng Ihe chanty to that expendthre, ¢t is probabk th a transfer ol ecDnornic benefit5 will be requwed in strttlem&Tht aThJ the arnount of the obliggts.on can L measured reliatty. ExpgThJf(ure accounted for on an acc¥uals basis and h8s dassif under headings that aggate dl cost related to Ihe category. ere costs cannot be directty attributed to pafb¢xlar headirKJ$ tt)ay ha b88n albcated to activities on a basis Consistent wth the u8e ¢f rè8ourc£s. Tanglbl• flx•d assets Deprecotion is pw'dod at thg folk)wing annual rates in order to write off e&h asset over ts 68tim8tsd useftjl Irf¥. Plant aThJ machinery 10% on cc61 Taxatlon Thè charity is èxwnpt frcm cOratiOn tax on its charilabb &thitie8. Fund accountlng Unrestrfted fvnds can be usèd In acco81 vAlh th8 charItae objectives at the discrntion olthe tsustees. Restrthd can onty be used for p¥rti¢ular r8strict8d wwses wlhin the obj8cts of the charity. Restrictions 8risg wIn spgrjfiea by the donor orwhen funds are raised for parb'rAJl8r re5th¢#ed purrx)SeS. D6nated funds ara s&t aside by the bustees out ofunre5tritsd for yofic purp05ès or projècts. Endowrnent fvnds esent those assets %thi¢h .must hekl p&mian&nty by th8 charty. The part of the fijnd which musl be pemanenly retsined is known as Permanent Endowrnent the part where twstees havtr a power oldiscretion to convert ¢aprtal into 1$ kn¢wm as Expèndabk End0%ant FurtherexpL4n*¥)n 01th8 natur& aThJ purpose ofeach fund is induded in tha notes tr• the finartial st8tsmwts. P•n•lon coots and oth•r wtryr•tlrom•ntbgnofits The chantsble t£Anparty 0raS a d8fin8d contrbuts'on pension scherne. Colltributs'ons payabKp to the Charitable ¢ompany's pension scheme are charged to the Ststemgnt of Finanoal Ath"wties in the peritsy io which they reL4te. 4VESTMENT INCOME 2024 2023 Other fixed a3$9t inv Deposit ac£ount terest 32.372 30,162 32.3&3 30,165 Pag&10 ¢onb"nuwJ...
Flnan lol Sta rEnd men onln h 2024 RAISING FUNDS RaIng donatlons and 18g•¢leB 2024 2023 SundrEs Support costs 2S8 42.583 157 29.624 42,839 29,781 SUPPORT COSTS Managgment Othèr Tola Raising don'on$ and HaryncY & prayer AddiThon Park estat• COnfence hall & meeting ntr? GLASt eottage rents Lilacs meth"n9 room & krtchen Grounds & gardan maintsnance 41,223 41,640 19,677 5,188 19.410 4,135 11,156 1,360 7,953 3,687 970 2,715 $82 2,134 42,583 49,593 23,364 6,158 22,125 4,717 13,2 142,429 19,401 161,830 Managemant go¥ernarKe have appcrtonad on an estimated ugè basis 8s fdlows.. Rai8ing donatons And bgac•8S Hatrnony & prayer acb Addingtcm Park estate Conference hall & meoting ontre Guast Ixttage rents Lilacs meebtYJ ro(m & kitchen Grounds & garden maintsnanc 41 19 14 NET INCOMEII&XPENDITUREI Nel irKOMleXpendrtur0} i% Stated aft8rchar9ingll¢redf(ingl". 2024 2023 6,216 6,216 TRUSTEES. REMUNERATION AND BENEFITS Following agreement by the Charity Commission, and befoffj hei rggnation on 31st Juty 2023, Mrs K S&arf&. trust8e and Spirial leader, red remunerabjn of £14.22812023'. £20.5D)I for her respons)Ilits"85 in the day to day running olthè tharity. Lrt(aWSg. Mrs E Parker has rÈoid remuneratton during the yeartotalllro £11,64512023'. £11,091). Tnwtse•' •xp•M•8 There trLL8tees' exp8nsas Pa for the year ended 31 March 2024 Th)r for th• yèar ended 31 March 2023. Paga11 tsjntinued...
Notss Fin - eontlnu 31 STAFF COSTS The 8verag& rnonthly numiv ofemployee8 durin9 ts yearwas as folkm". 2024 2023 AdministratK)n No eny)loyee5 reCed emoluments in excw ol £el).000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrgstrthd Resth'ckd TrJs lunds End0wmt fvnds Total fiJnds INCOME AND ENDOWMENTS FROM Donatn5 and *acies 102,751 9,363 112,114 In$trent irthme Other irtorne 12, 18,097 30,165 4,137 4.137 Total ICE.891 21.428 18.097 146.416 EXPENDITURE ON Raigry funds 8,486 20,924 371 29,781 Charll&blo actfviti Hamony & prayar ath"wties Addingt¢n Pth estate Conference hall & m8èb.ng ntre Guest lIage rents Lilacs meetiThJ room & kntthen GrouThts & garden malntenance 49,698 23,027 6,C60 17.023 15,784 13,329 60.218 2,172 1.CY)7 265 742 159 $83 112.088 32,338 11,084 18,260 ie,049 t4.301 4,759 495 106 389 To141 133.407 95,195 5,299 233,901 Net gainslllossesl on inv¢stsnents 132.3501 148,5251 180.8751 NET INCOMEIIEXPENDITUREI TMnsf•rn b•tsv•on funds 126.5161 142.4281 I1(,117) 42,428 135,7271 1168,3801 N•t mov•m•nt In fund¥ 168.9441 163,6991 {35,7271 I188,3} RECONCILIATION OF FUNDS Total fijnds brought forward 23,443 658,794 1,031,914 1,714.151 TOTAL FUNDS CARRIED FORWARD 145,5011 595.105 996,187 1,54S,791 Page 12 ontinu&l...
th? Finanelal for th• Y t¢men TANGIBLE FIXED ASSETS Plt 8nd Ma(ry COST At 1 April 2023 and 31 Marth 2024 62,170 DEPRECIATION At 1 April 2023 Charg8 for year 12.332 6,21e At 31 March 2024 18,546 NET BOOK VALUE At 31 Marth 2024 43,622 At 31 Marth 2023 49,838 10. FIXED ASSET INVESTMENTS Share5 in group undèrtakirs Cash and s&thements FendiTr9 sted In$trants Totals MARKET VALUE At 1 April 2023 Addib'ons th'sposals Revaluations 105 1.1,047 421,149 1297.3121 59.961 1,194,714 421,149 1372.9321 $9,9S1 175,6201 At 31 March 2024 1,289,845 12.942 1,302,892 NET BOOK VALUE At 31 mar 2024 105 1,289,845 12,942 1,302,892 At 31 Marth 2023 105 I,1(,047 1.194.714 ThereWe Th) inveslmentassets outside the UK. Cost or v8luKJn at 31 March 2024 18 reF¥esented by.. Shares in group undert*ings Cash anrl 8eltlements Fending List•J invèstsn Totals V8luation in 2022 Cost 137.823 1,152,022 137,823 1.165,C69 105 12,942 105 1.289,845 12.942 1,302,892 The ¢xmpanls investsn¢nts at the balance sheeldate in the shwe caprtal ofLY)Mpanh indudo the fDlkMng.' Th• So•k•rn Tru•ts• Company Umltsd Registere(l office. Th? Lilacs, The Clo$8, Adlir¥Jton pa, Wèst Malling, Kent. ME19 5BL Nature of businè58' ProFety income Class of 8hare'. Ordinary hokJirvJ 1(X) 2024 2023 Aggregate ¢8pilal and raseNeS Loys for the year 110,6141 11,7691 18.8451 If.7691 Page13 ctsntinued...
Flna •nts. 31 March 10. FIXED ASSET INvESTINTs- conllnugd Tho Soek•Tr Glft Shop & Café Llmlt•d Registered Offi.. The Lilacs. Thè Close. Addington Park. VlÈst Malling. Kent, ME19 5BL Nature of bussness". Gift shop and cafè Class of share. Ordinary hokding 100 2024 2023 Aggregate caprtal and reserves Profft for the year 15361 73 16091 47 11. OEBTORS: AMOUNTS FAWNG OUE WITHIN ONE YEAR 2024 2023 Tradedebtor5 Amounts owed by group uThJertaking$ Olhèr debtors Prepayments 324 172.240 14,Cfj6 32,915 463 177,851 2,131 28,727 219.545 209,172 CREDITORS.. AMOUNTS FALLINO OUE Ih1Th14 ONE YEAR 2024 2023 TTad8 crtOrS Scrial 3e¢unty and othertaxe5 Other credf(ors Ac4xued expens•s Defèrred income 30,1ty) 490 520 8,230 2,639 33,049 709 744 5.491 1.932 41.979 41.925 Pago 14 continu8d...
Tru No tho Fln4nclal Year En tat•mèn .con rch2 13. IIOVEMENT IN FUNDS Trfer$ movement fvnds Al 31.3.24 Al 1.4.23 Unmtricted fund$ General ttjnd Designated fund- D Fisk kgacy Desrgnated fvnd. A Yates 174,5281 6,440 22,583 125,32SI 42,428 157,4231 6,440 21,583 11,OCK)I 145.5031 126,3251 42.428 ReBtrfetsd fund¥ Harnony & prayer urdeg Addington Park building fuTh Chapels, rb1$hmernt Gwden and ground$ Publioty and adverbsing Conferenc8s and promot.onal aLtrits'e8 Tree appeal J Morris lega¢y 129,4Q)I 101,811 1.066 109,664 171,944 146.6941 1311 17,309 128,3531 16,8371 1,772 142,4281 27,689 133,561 52,470 14,113 4,415 44.978 105,208 45.633 15.885 4,415 595,10S Endovffli•ntfund8 Garden and grounds Publicity and adverb"5irva Conf8r8nce8 and promotional 8ctNtheB Hamony & wayer cirdes ExpgndJle eThJovm)ant 154,9811 142,4281 497, 398,306 132,76S 66,39Q 66,812 331.916 25. 8,653 4.329 4,328 21,634 424,270 141.418 70,71g 71.140 353,550 996.189 1.(B1,097 TOTAL FUNDS 1,545,791 116,3981 1,529.393 Nat rn¢Hnent in bjnds, Includ in the above ara as follows.. IncLJming resour Gains and Mov8mènt in fvnds expeThYed Unre$trict•d fundb General fvnd Designatad fvnd- A Yates 92,534 1117,8591 11,(K)01 125,3251 11,(KK)I 92,534 R•trlet•d lundB Hamony & prayer circl&s Addiryton Pth buikling fvnd Chapels, r9fiJth'shment Garden and grounds Publiuty 8rkY advertisirrfJ Conferences arKI promotional actiwti.es Tréè apFeal 1118,8591 126.3251 8,210 4,316 12,6231 I62.5) 1311 11.4e31 134.6101 19.9671 12561 7,853 146.6941 1311 17,309 128,3531 16,8371 1.772 11,325 5.180 1.728 13.592 4,529 2,266 2,028 22.326 1111,2851 33,978 End0•ntIUndl GArden and grcyJnds Publicty aThJ adrSIrj Conferen5 and prcxnotional aCtive5 Hamiony & prayer cirdes Expndable endowment 154,9811 7,772 2.590 1.295 (2,1981 17311 13661 13661 11.8281 20.388 6,794 3,400 3,400 16,988 25. 8.653 4,329 4,328 21,634 6,474 19,425 15,4871 50.970 64,908 TOTAL FUNDS 134,285 1235,8311 116.YJ81 P&3e 15 continued...
Not•• to for Flnanclal men 31 13. MOVEMENT IN FUNDS- cont1nl Comparatlve8 fw mov•m•nt In fund• Net movernent in fvnd5 Transfers baeen lunds Al 31.323 At 1.4.22 Unrnstrlctod fundi GerEral fvr¥J D.9natsd fvmd. D Fisk lagacy Degnated fvmd. A Yates 16,5801 6,44LI 23,583 125,5181 {42.4281 174,5281 6.440 22.583 11.0001 23.443 128.5181 142,4281 145.5031 R•strietsd lund• Harmony & prayar circks Athingtorn pa buiklir@ fvnd Chyls, refiL$hrnent Garden and giounLIs PLknlierty and advertisirq Conferen¢e$ pr(xnotiond act'wties Trga aal J Morris legaGy 97,959 276.638 35,143 37,1 136,736 58.640 12.C67 4,415 3.852 115,5721 177,5711 19,5271 13,1751 16.1701 101,811 261.6 42,428 133,561 52,470 14.113 4.415 658,794 11C6,1171 42,428 595,105 Endowmontfund• Garflen and grOUd$ Publioty and adVe'sIng Confar8nces and promotronol ath"v Harmony & prdyÈr orel8s Expendab endowment 412,596 137.528 68,773 69,194 343,823 114.2901 14,7631 12,3831 12.3821 111,9)71 398.306 132,765 66,39) 66.812 331.918 1,031.914 135.7251 996.189 TOTAL FUNDS 1,714,151 1168.3601 1.545.791 Page 16
Th to th• Flnanclal S Y•ar En m•nts. ntinuod 13. IKIVEMENT IN FUNDS. ¢ontlnu•d Comparative rt movement in fvnds, incI)e In the a)ov8 are as follows.. Incoming resources Rttsources èxpended Ga$ arvj Movement in fvnds Unr¢¥trlctsd funds Ggneral fvnd Designated ftJnd- A Yates 1Cfj,891 1132,4091 125.5181 11,0001 1Cfj.891 1133,4091 Reitrfct•d lund8 H8rmefiy & prayer ordes Addington Patk buikjing pds, refvrbishm8nt Garden and grounds Publicity and advarb"$illg Conferences aTrJ promot'onal 8thitses Tw appea 126.5181 11,9551 18,8101 177,5711 11.4131 14711 14,8181 11571 12,1581 110,7821 3,852 115,5721 (77,5711 19,5271 13,1751 16,1701 4,020 4,828 1,608 806 2,203 112.9401 14,3121 12,1581 21.428 195,1951 132,3501 11rfi.1171 EndoTn•ntlund8 G8rdÈn and grounds Publrity and vertising Conferencs aThJ promotion81 activth'es Hatmony & prayer cirdes Expendabl8 8ndovmiènt 7,239 2,411 1.207 1,208 8.032 12,1191 171AI 13531 13531 11.7661 119,4101 16,4681 13,2371 13,2371 116,1731 114,2901 14,7831 12,3631 12,3821 Ill,)7) 18,097 15.2971 148.5251 135,7251 TOTAL FUNDS 146,416 1233,9)11 180,8751 1168,3601 END0ENT FUNDS The ErYJo%wnent Fund8 were donatsd to ts Gharty during 1984. Tha income from the Pennan8nt Enclowlnent Fund may be us8d for athvtss detailed abov8. Incomè frcffi the Expeable Et0ment Fund may be used for the erethon, r818(ment and major imFwrnnts tr& the IlIdirrtJs at Ad(h"rvJkn. The capitsl ol the lunds tnay us&1 only il insuffieiant is avail&le to Try ¢rects'on. rePIaM8nt or major imkyovement to th8 bU11ng$ atAddTrrrtJton. The Endovmient Ino)m8 FuThl8 were cfeabj folk)w'ng a transfer of Ihe income ac¢umulated in the Endcthment Fund. The orKJinal letters of tent estsblishing the gift of £7SO,000 state thal the capital sum5 shoukl be maintained and not used for any r8&8on othgr than to WOVKle incomé for the puoSe$ specffi8d. Th aMulated cOn was divkled in 2CX)5 into Ihe new Restred Funds in a¢[{lar with the orinal allocation. Incoming fesourcas In thesg fvnds arise from invèstmgnt income reiVed in rèspèct of tl Endob%Ynant Furf$ invested. Tris incomè is allocated in accLJrdance wilh the k8tter dated 7th August 1989. In addition, whstst thè r8strK#ed fvjnds conbnue io b8 investgd, the income derived from suth investment 15 •lded to thè R8stricted Funds. RESTRICTED FUNDS Indd In Rèstftcted Funds is a ga¢y received from the J IAorrf$, S91 for th8 maint&)anf aThJ upkeep ofthe Rose Gard. This fvnd wll be ut'lised over a numbgr ofyears. The Tm Akyal w8$ Set up to assist with th8 p18rt ol treos lost in the in the year 8ThJad 31st March 2014. Tranalors be1w fund• The transfer of fvnds b8tsY88n ts General FuThJ and the Ch¥els' Refvrbishment restrid8d fuTrJ last year totslling £42,428, has boen amended this year, to takè advantsge of the pem1lsslb USÉ of the Addington Park building fund. This transfer of fuThJs has now Lwn taken out ol th& General Fund and re-allocat8d to Ihe Addiryton Park building fiJThJ in aeeortlance the terms allo*rtd by original endowment madè. Page 17 ¢onts'nued...
Flnanelal Stst8m• r h Yaar End•d 14. RELATED PARTY DISCLOSURES There were no related party transacb'ons for tho year ended 31 March 2024. 15. GOING CONCERN No material unc*tsinbes that may cast synific8nt ¢Joubt about the ability of charity tts rAN)tinue as a goiThJ c¥Jncem ha¥e id&Thffi8d by Page 18