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 2025
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 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | to | 9 |
| Notes to the Financial Statements | 10 | to | 18 |
The Seekers Trust (Registered number: 11496998)
Report of the Trustees for the Year Ended 31 March 2025
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 2025. 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.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
Following the resignation of two trustees in July 2023, at our AGM in February 2024 the remaining three trustees reiterated their mission to maintain a centre for prayer, healing, wellbeing, and remembrance of our loved ones and to provide an oasis of calm in the current challenging climate that exists. As part of this strategy, we will continue to develop our new website and social media channels to expand our prayer and healing services. We have completed our chapel refurbishment. One to one healing has moved back into the chapels and increased to twice monthly offering twelve individual healing appointments each session, and as demand increases, we will begin to offer more days. We continue with our Harmony Prayer Circles at Addington and also our home circles. Prayer is an important part of The Seekers Trust, with us praying for people all around the world.
We held our annual Remembrance Day service on 30th June 2024. The Conference Hall was full of our members, their families and friends. It was lovely to see so many young people enjoying the day with their families, seeing familiar faces and to put faces to people we have spoken to on the phone but never met. Our service was a little different this year as we invited a new celebrant to host our service. Diane Wilcox, a long-time friend of our past residents John and Beth Smoker is a Humanist accredited Officiant and led a meaningful service that that the trustees felt was in keeping with the day. After the service we had many positive comments which were very encouraging.
Remembrance Day takes a tremendous amount of planning and the commitment of many individuals. This was a first time event for our new gardeners, Beetlestones, who only joined us in November 2023. Despite the many challenges thrown up by the variant weather patterns in the time preceding the event they rose to the challenge and delivered an excellent result on the day
In late November the Board of Trustees were shocked to receive written notice of a Members Requisition calling for a general meeting of The Seekers Trust in order to pass an ordinary resolution seeking removal of the existing trustees and the appointment of six new trustees. As this was a legal document we were required to arrange, at extremely short notice, an Extraordinary General Meeting which was subsequently convened on 11th January 2025.
The meeting was attended by 37 members. Voting on the resolution was a mix of proxy votes and voting by members in the room. The overall result which was independently verified was that all nine trustees were voted into office. The next immediate steps were to set up an inaugural meeting with the full Board of Trustees in the New Year to agree a way forward.
The Trustees have so many people to thank for their support. The office staff, volunteers healers, linkers and everyone involved in maintaining the Trust. The Trustees appreciate that without their much-valued efforts the Trust could not survive. We would also like to say a massive thank you to the overall common sense and affection for the Trust and its work from those members, who faced with difficult decisions, saw value in experience being combined with the potential for new ideas and additional energy from additional Trustee Resources,
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 2025
FINANCIAL REVIEW Financial position
Our current investment portfolio at the end of March 2025 was valued at £1,087,496 (2024: £1,302,786).
The breakdown percentage of our investment portfolio is as follows:
| Portfolio Cash | 0.2% |
|---|---|
| Property & Infrastructure | 7.3% |
| Fixed Income | 34.3% |
| Equities | 51.2% |
| Absolute Return | 3.5% |
| Commodities | 3.5% |
Legacies totalling £nil (2024: £2,000) were received during the financial year ending 31st March 2025.
Details of the Income and Expenditure for the year can be found on page 9 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 (£52,515), (2024: (£29,400)), of which £37,294 (2024: £40,892) 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 2025
FUTURE PLANS
Following on from the EGM the new Board of Trustees met in February 2025 and agreed to work together in a positive way going forward. It was evident that many of our plans and ideas overlapped and it was unanimously agreed to use the additional trustee resources to drive the Trust forward to deliver on plans. The expanded team means there are more boots on the ground to drive projects, generate ideas and create potential revenue streams.
We have also agreed to proceed with original plans to offer memorial services in the chapel and talk to funeral directors to get ideas and direction on how this would work for them and us.
Guest flats are also a priority and the trustees' aim is to get two or three of them up and running as soon as possible. We are also in the process of developing plans and options for the other guest flats.
We would also like to increase the number of weekly healing sessions and put together a Seekers Trust healing course possibly late 2025 or early 2026.
We are looking at promoting the Conference Hall and Meeting Centre and considering the possibility of opening a café on site
We want to continue on developing plans and widening our efforts to increase membership, support and increase revenues including fundraising activities and endeavouring to increase staff and volunteers as required .More information on future plans will be provided at our forthcoming AGM scheduled for May 2026.
The most important factor for us is to ensure the sustainability of The Seekers Trust and keep it going in perpetuity.
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.
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 3
The Seekers Trust (Registered number: 11496998)
Report of the Trustees for the Year Ended 31 March 2025
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 4
R• rt of thè Trustees for th• Year Ended PArs E Parf(Ér Trustee R SmckerTnJstee R J Mckinlèy Trugt8è J D Pery Tnjstee lappolnted 11.1.251 O S Cuss Tnjstee (appointed 11.1.251 L A Searfe Trustse lappointsd 11.1.251 D F McEvoy Trusteè18ppntsd 11.1.251 P Harris Ttee lappThnted 11.1.251 Mrs M E Wfiliarnson TrLtst8è18kvJinted 11.1.25) dependent Exarniner A M ReKI FCA MeLèan Reid Chartered ACUntants 1 Forsta Road Ay18sford Kent E20 7AU prov&J by crfder oftho Ly)ard'oftrustees on 8 December 2025 and sign&J on its behall by. R J MCknn- Trustee P&Je 5
In • S•ok•rn T Independéni•x•rninerf8 reportto th• trn8t•os ofThe Trust IYh• Company'l l rnprytlo the carity trusiees on my &xanination ofthe aoxjunts oftho C(mp8ny forthe year ended 31 MaTth 2028. RewnsSbllbllos and ba•1$ of r•port As the chanty8 trustees ol the Company land also ts ¢J'rectoTs for thè purp05e8 otcompany lawl you4re respCb18 tr the weparalk)n offh¢ 8crL4ints in ac£ordance V+ith thè wuirsments of the Ccffipanies Act 20C6 nhe 2(K6 W. Hawro satisfied tho1 th& acojunts of thè Company are not wuired to be under P9rt 16 of the 20C6 Ad and are elvJibb for inendent examinab"on. I r8POrt in resped of my examinatsC of your charitys accounts as carri8d out under SectSon 145 01 tre Charfaes Act 2011 Ilhe 2011 ACVI. In carrying out my ex8min8tiM I havè fc41thY thè DIred0 given by the Charity Commwion under SÈcbon 145151 (bl ofth8 2011 ACL Indepèndent 8xaminerf• statement I havè cOrnpted my examination. l ttsnfim) Ihat rngtters halp o)m& to my attenti£ in connection vAth the examination gMNJ mo CUge to trlieve'. accounting record$ were not kept in re¥ect ofthe Company8s wuiredty Section 386ofthè 2( Act., cf th8 aceounts do not acrord wth thoso r8coTrl$', or the aOunts do not compty wlth the accounting Tequirernents of Se)n of the 2006 Aca other than any" requiramènt that the ac)unts gi a and lair vw wthich is not a mattgr ¢onsiderwJ as Fqrt of an Independent examination.. or tha accounts have not trRen woparnd in aCCordare the methods aTrJ napleS of the Statement of Recrynrnended Prathe for &cSunting and reporb'ng by Charit$(pp1abb to ¢harithes preparing their atYJnts in accordonc8 wfd) th• Fln8nrial Repwting StaThJard aFfJli¢ablg in the UK and Republic of Ireland IFRS 10211. I have conM$ and have ccna acnss no other matters in conn8don wtth the ex8rninatiw.lo which ntion shoul t• drawn In thL9 in wderto enab a prcpgr untsrstandiro ofthe aUnts to be reacthed. A M RelJ FCA McL8an RekJ Chartèrèd Actswntsnis 1 Forstsl Road Ayknford ME20 7AU 9 Dacember 2025 Pagè 6
The Seekers Trust
Statement of Financial Activities for the Year Ended 31 March 2025
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | ||
| funds | funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS | ||||||
| FROM | ||||||
| Donations and legacies | 37,754 | 8,834 | - | 46,588 | 98,510 | |
| Investment income | 2 | 20 | 16,683 | 25,025 | 41,728 | 32,382 |
| Other income | 2,816 | - | - | 2,816 | 3,390 | |
| Total | 40,590 | 25,517 | 25,025 | 91,132 | 134,282 | |
| EXPENDITURE ON | ||||||
| Raising funds | 3 | 9,331 | 794 | 415 | 10,540 | 42,839 |
| Charitable activities | ||||||
| Harmony & prayer activities | 54,644 | 79,035 | 2,435 | 136,114 | 97,639 | |
| Addington Park estate | 25,706 | 41,756 | 1,128 | 68,590 | 39,255 | |
| Conference hall & meeting | ||||||
| centre | 6,666 | 4,772 | 297 | 11,735 | 15,766 | |
| Guest cottage rents | 18,660 | 555 | 831 | 20,046 | 22,125 | |
| Lilacs meeting room & kitchen | 3,999 | 119 | 166 | 4,284 | 4,717 | |
| Grounds & garden maintenance | 14,663 | 436 | 665 | 15,764 | 13,290 | |
| Total | 133,669 | 127,467 | 5,937 | 267,073 | 235,631 | |
| Net gains on investments | - | 5,160 | 7,738 | 12,898 | 84,951 | |
| NET INCOME/(EXPENDITURE) | (93,079) | (96,790) | 26,826 | (163,043) | (16,398) | |
| Transfers between funds | 13 | 69,964 | 47,026 | (116,990) | - | - |
| Net movement in funds | (23,115) | (49,764) | (90,164) | (163,043) | (16,398) | |
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | (29,400) | 497,696 | 1,061,097 | 1,529,393 | 1,545,791 | |
| TOTAL FUNDS CARRIED | ||||||
| FORWARD | (52,515) | 447,932 | 970,933 | 1,366,350 | 1,529,393 |
The notes form part of these financial statements
Page 7
The Seekers Trust (Registered number: 11496998)
Balance Sheet 31 March 2025
| Notes FIXED ASSETS Tangible assets 9 Investments 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Unrestricted funds £ 37,294 105 37,399 196,964 (240,849) (43,885) (46,028) (89,913) (52,514) (52,514) |
Restricted funds £ 2,430 434,999 437,429 16,961 (3,807) 13,154 (2,651) 10,503 447,932 447,932 |
Endowment funds £ - 652,498 652,498 - 318,483 318,483 (49) 318,434 970,932 970,932 |
2025 Total funds £ 39,724 1,087,602 1,127,326 213,925 73,827 287,752 (48,728) 239,024 1,366,350 1,366,350 (52,514) 447,932 970,932 1,366,350 |
2024 Total funds £ 43,622 1,302,892 1,346,514 219,545 5,313 224,858 (41,979) 182,879 1,529,393 1,529,393 (29,400) 497,696 1,061,097 1,529,393 |
|---|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 8
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31 Mareh 2025 suty'ecl to the srndl companN* wine. were on rts t¢ha(fty. R J Trusts• E PaTk8r- Trusts8 R Smc&8r-
The Seekers Trust
Notes to the Financial Statements for the Year Ended 31 March 2025
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
| INVESTMENT INCOME | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Other fixed asset invest | 41,708 | 32,371 |
| Deposit account interest | - | 11 |
| HMRC interest | 20 | - |
| 41,728 | 32,382 |
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The Seekers Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
3. RAISING FUNDS
Raising donations and legacies
| Sundries Support costs SUPPORT COSTS Management £ Raising donations and legacies 7,580 Harmony & prayer activities 44,520 Addington Park estate 20,941 Conference hall & meeting centre 5,518 Guest cottage rents 15,155 Lilacs meeting room & kitchen 3,248 Grounds & garden maintenance 11,909 108,871 |
2025 £ 518 10,022 10,540 Other £ 2,442 14,321 6,637 1,747 4,891 1,036 3,855 34,929 |
2024 £ 256 42,583 |
||
|---|---|---|---|---|
| 42,839 | ||||
| Totals £ 10,022 58,841 27,578 7,265 20,046 4,284 15,764 |
||||
| 143,800 |
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):
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 6,475 | 6,216 |
6. TRUSTEES' REMUNERATION AND BENEFITS
Following agreement by the Charity Commission Mrs K Searle, trustee and spiritual leader (resigned 31st July 2023), received remuneration during the year of £4,561 (2024: £14,228).
Likewise, Mrs E Parker has received remuneration during the year totalling £12,053 (2024: £11,645).
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
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The Seekers Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2025 | 2024 | |
|---|---|---|
| Administration | 3 | 3 |
No employees received emoluments in excess of £60,000.
| 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 89,133 9,377 Investment income 11 12,947 Other income 3,390 - Total 92,534 22,324 EXPENDITURE ON Raising funds 7,820 34,635 Charitable activities Harmony & prayer activities 45,789 49,601 Addington Park estate 21,875 16,336 Conference hall & meeting centre 5,586 9,906 Guest cottage rents 21,062 295 Lilacs meeting room & kitchen 4,442 110 Grounds & garden maintenance 12,285 402 Total 118,859 111,285 Net gains on investments - 33,980 NET INCOME/(EXPENDITURE) (26,325) (54,981) Transfers between funds 42,428 (42,428) Net movement in funds 16,103 (97,409) RECONCILIATION OF FUNDS Total funds brought forward (45,503) 595,105 TOTAL FUNDS CARRIED FORWARD (29,400) 497,696 |
Endowment funds £ - 19,424 - 19,424 384 2,249 1,044 274 768 165 603 5,487 50,971 64,908 - 64,908 996,189 1,061,097 |
Total funds £ 98,510 32,382 3,390 134,282 42,839 97,639 39,255 15,766 22,125 4,717 13,290 235,631 84,951 (16,398) - (16,398) 1,545,791 1,529,393 |
|---|---|---|
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The Seekers Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
9. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Plant and | |
| machinery | |
| £ | |
| COST | |
| At 1 April 2024 | 62,170 |
| Additions | 2,577 |
| At 31 March 2025 | 64,747 |
| DEPRECIATION | |
| At 1 April 2024 | 18,548 |
| Charge for year | 6,475 |
| At 31 March 2025 | 25,023 |
| NET BOOK VALUE | |
| At 31 March 2025 | 39,724 |
| At 31 March 2024 | 43,622 |
10. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 April 2024 Additions Disposals Revaluations At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 |
Shares in group undertakings £ 105 - - - 105 105 105 |
Listed investments £ 1,289,845 87,512 (263,758) (27,777) 1,085,822 1,085,822 1,289,845 |
Cash and settlements pending £ 12,942 - (11,267) - 1,675 1,675 12,942 |
Totals £ 1,302,892 87,512 (275,025) (27,777) 1,087,602 1,087,602 1,302,892 |
|---|---|---|---|---|
There were no investment assets outside the UK.
Cost or valuation at 31 March 2025 is represented by:
| Valuation in 2025 Cost |
Shares in group undertakings £ - 105 105 |
Listed investments £ (27,777) 1,113,599 1,085,822 |
Cash and settlements pending £ - 1,675 1,675 |
Totals £ (27,777) 1,115,379 1,087,602 |
|---|---|---|---|---|
The company's investments at the balance sheet date in the share capital of companies include the following:
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The Seekers Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
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 | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Aggregate capital and reserves | (12,383) | (10,614) | |
| 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.
12.
| Nature of business: Gift shop and café | |||
|---|---|---|---|
| % | |||
| Class of share: | holding | ||
| Ordinary | 100 | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Aggregate capital and reserves | (619) | (536) | |
| (Loss)/profit for the year | (83) | 73 | |
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors | 882 | 324 | |
| Amounts owed by group undertakings | 171,537 | 172,240 | |
| Other debtors | 2,359 | 14,066 | |
| Prepayments | 39,147 | 32,915 | |
| 213,925 | 219,545 | ||
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors | 36,634 | 30,100 | |
| Social security and other taxes | 459 | 490 | |
| Other creditors | 525 | 520 | |
| Accrued expenses | 9,334 | 8,230 | |
| Deferred income | 1,776 | 2,639 | |
| 48,728 | 41,979 |
Page 14
continued...
The Seekers Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
13. MOVEMENT IN FUNDS
| At 1.4.24 £ Unrestricted funds General fund (57,423) Designated fund - D Fisk legacy 6,440 Designated fund - A Yates 21,583 (29,400) Restricted funds Harmony & prayer circles 109,664 Addington Park building fund 171,944 Chapels' refurbishment (31) Garden and grounds 44,978 Publicity and advertising 105,208 Conferences and promotional activities 45,633 Tree appeal 15,885 J Morris legacy 4,415 497,696 Endowment funds Garden and grounds 424,270 Publicity and advertising 141,418 Conferences and promotional activities 70,719 Harmony & prayer circles 71,140 Expendable endowment 353,550 1,061,097 TOTAL FUNDS 1,529,393 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 40,590 Designated fund - A Yates - 40,590 Restricted funds Harmony & prayer circles 7,816 Addington Park building fund 5,562 Chapels' refurbishment - Garden and grounds 6,673 Publicity and advertising 2,224 Conferences and promotional activities 1,113 Tree appeal 2,129 25,517 Endowment funds Garden and grounds 10,009 Publicity and advertising 3,337 Conferences and promotional activities 1,669 Harmony & prayer circles 1,669 Expendable endowment 8,341 25,025 TOTAL FUNDS 91,132 |
Net movement in funds £ (92,078) - (1,000) (93,078) (69,853) (35,042) (31) 7,153 2,384 (3,012) 1,611 - (96,790) 10,730 3,576 1,789 1,789 8,941 26,825 (163,043) Resources expended £ (132,668) (1,000) (133,668) (78,013) (42,324) (31) (1,584) (528) (4,469) (518) (127,467) (2,375) (792) (396) (396) (1,979) (5,938) (267,073) |
Transfers between funds £ 69,964 - - 69,964 - 41,756 62 436 - 4,772 - - 47,026 (15,099) - (11,438) (22,929) (67,524) (116,990) - Gains and losses £ - - - 344 1,720 - 2,064 688 344 - 5,160 3,096 1,031 516 516 2,579 7,738 12,898 |
At 31.3.25 £ (79,537) 6,440 20,583 (52,514) 39,811 178,658 - 52,567 107,592 47,393 17,496 4,415 447,932 419,901 144,994 61,070 50,000 294,967 970,932 1,366,350 Movement in funds £ (92,078) (1,000) (93,078) (69,853) (35,042) (31) 7,153 2,384 (3,012) 1,611 (96,790) 10,730 3,576 1,789 1,789 8,941 26,825 (163,043) |
||
|---|---|---|---|---|---|
Page 15
continued...
The Seekers Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Designated fund - D Fisk legacy Designated fund - A Yates Restricted funds Harmony & prayer circles Addington Park building fund Chapels' refurbishment Garden and grounds Publicity and advertising Conferences and promotional activities Tree appeal J Morris legacy Endowment funds Garden and grounds Publicity and advertising Conferences and promotional activities Harmony & prayer circles Expendable endowment TOTAL FUNDS |
At 1.4.23 £ (74,526) 6,440 22,583 (45,503) 101,811 261,066 - 27,669 133,561 52,470 14,113 4,415 595,105 398,306 132,765 66,390 66,812 331,916 996,189 1,545,791 |
Net movement in funds £ (25,325) - (1,000) (26,325) 7,853 (46,694) (31) 17,309 (28,353) (6,837) 1,772 - (54,981) 25,964 8,653 4,329 4,328 21,634 64,908 (16,398) |
Transfers between funds £ 42,428 - - 42,428 - (42,428) - - - - - - (42,428) - - - - - - - |
At 31.3.24 £ (57,423) 6,440 21,583 (29,400) 109,664 171,944 (31) 44,978 105,208 45,633 15,885 4,415 497,696 424,270 141,418 70,719 71,140 353,550 1,061,097 1,529,393 |
|---|---|---|---|---|
Page 16
continued...
The Seekers Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
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 | 92,534 | (117,859) | - | (25,325) |
| Designated fund - A Yates | - | (1,000) | - | (1,000) |
| 92,534 | (118,859) | - | (26,325) | |
| Restricted funds | ||||
| Harmony & prayer circles | 8,209 | (2,623) | 2,267 | 7,853 |
| Addington Park building fund | 4,315 | (62,335) | 11,326 | (46,694) |
| Chapels' refurbishment | - | (31) | - | (31) |
| Garden and grounds | 5,181 | (1,463) | 13,591 | 17,309 |
| Publicity and advertising | 1,728 | (34,610) | 4,529 | (28,353) |
| Conferences and promotional activities | 863 | (9,967) | 2,267 | (6,837) |
| Tree appeal | 2,028 | (256) | - | 1,772 |
| 22,324 | (111,285) | 33,980 | (54,981) | |
| Endowment funds | ||||
| Garden and grounds | 7,772 | (2,196) | 20,388 | 25,964 |
| Publicity and advertising | 2,589 | (731) | 6,795 | 8,653 |
| Conferences and promotional activities | 1,295 | (366) | 3,400 | 4,329 |
| Harmony & prayer circles | 1,294 | (366) | 3,400 | 4,328 |
| Expendable endowment | 6,474 | (1,828) | 16,988 | 21,634 |
| 19,424 | (5,487) | 50,971 | 64,908 | |
| TOTAL FUNDS | 134,282 | (235,631) | 84,951 | (16,398) |
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 below:
For the upkeep of gardens & grounds For advertising the work of the Trust For conferences and promotional activities For the building fund of the Trust For the harmony prayer circle
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 17
continued...
The Seekers Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
13. MOVEMENT IN FUNDS - continued
Transfers between funds
Sums have been transferred from the accumulated income earned by the endowment funds to the general and restricted funds during the year to cover the costs incurred by those funds during the year in accordance with the terms and conditions of the endowments funds.
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
15. 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 18