**Charity Registered number:**
**1189214**
## **THE ALFOXTON PARK TRUST**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE PERIOD ENDED 31 DECEMBER 202�**
**THE ALFOXTON PARK TRUST FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 202�**
|**Contents**|**Pages**|
|---|---|
|Company information|1|
|Trustees' report|2 - 5|
|�eport���������������������|6|
|Statement of financial activities|�|
|Balance sheet|�|
|Notes to the financial statements|� - 1�|
**THE ALFOXTON PARK TRUST CHARITY INFORMATION**
## **Trustees**
Jayaraja �������� ������������������������������ Lokabandhu ����������������������������������������������������� Robin Collett �����������������������������
## **CHARITY REGISTERED NUMBER**
1189214 (England and Wales)
## **PRINCIPAL ADDRESS**
Alfoxton Park Estate Alfoxton Park Holford Somerset TA5 1SG��
## **��������������������**
������������� ��������������� ���������� ��������
## **PRINCIPAL BANKERS**
The Co-�perative bank PLC PO Box 250 Skelmersdale WN8 6WT MetroBank 18����Stall�Street Bath BA1 1QB
## **SOLICITORS**
Frederic Hall York House 32 Cheriton Gardens Folkstone Kent CT20 2UR
1
**THE ALFOXTON PARK TRUST TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 202�**
## **Trustees**
The Trustees are pleased to present the Trustees Report together with the financial statements of the charity for the period ended 31 December 202�.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity is constituted as a Charitable Incorporated Association (CIO) and is governed by its Rules.
## **Appointment of trustees**
The Charity is governed by its Council whose members are all of the Triratna Buddhist Order. The members of the Council, who served throughout the year, are shown below.
The Charity inducts new Council members by providing them with a copy of 'Triratna Chairs & Trustees Handbook (2016), the Charity Commission's 'Responsibilities of Charity trustees' and by discussing their role during council meetings.
Trustees are aware of the Charity Governance Code and fulfil their trusteeships in that spirit - they are thus able to explain the charity's aims and how those aims are achieved, and are confident of the integrity of the charity's function in the public benefit.
## **Risk management**
The Council Members keep under review the principal risks faced by the charity and seek to manage these. The key risks include the many risks associated with construction work, the ability of the charity to retain appropriately skilled volunteers and staff to facilitate running events and other sessions, and the need to retain the support of sufficient donors to ensure the charity can continue to operate.
## **Arrangements for setting pay and remuneration of key management personnel**
The charity seeks to operate as far as possible using volunteers. However if full-time skilled members of the community require financial support, this may be offered at a flat rate of £�30 per month.
Two individual members of the Council also hold executive posts for the day-to-day management of the Charity. One of these (the Chairman) is financially supported for doing so; the other (the bookkeeper) does so in a voluntary capacity
## **Day to day delegation of management**
The Council meets bi-monthly, either in person or by Zoom. The Treasurer circulates reports on financial matters to the Council monthly.
Day-to-day running of the Charity is undertaken by the on-site management team and directed by the Chair of Trustees, Jayaraja.
## **OBJECTIVES AND ACTIVITIES**
The objectives of the charity are the advancement of the Buddhist religion, in particular:
(a) to encourage members and others to live in accordance with the teachings of the Buddha, with special reference to living, practicing and inspiring others to adopt a simple, natural, and ecologically sustainable approach to life and environmental stewardship, as exemplified by the Buddha and his immediate disciples.
(b) to support ordained members of the Triratna Buddhist Order and other duly ordained Buddhists. (c) to maintain close communication with and work under the guidance of the Triratna Buddhist Order and in cooperation with other groups with the same objects.
In pursuit of its objects the Charity runs a variety of residential retreats, both introductory and those designed to help people deepen their practice and understanding of Buddhism.
It is also an objective of the Charity to encourage the establishment of a residential community, where Buddhists can live and practise together, initially working on the renovation of Alfoxton Park and subsequently in the running of the Retreat Centre.
2
**THE ALFOXTON PARK TRUST TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 202�**
## **REVIEW OF ACTIVITIES**
See chairman's report below.
## **PUBLIC BENEFIT**
When planning the activities for the year, the trustees considered the Charity Commission's guidance on public benefit and are satisfied that the Charity's activities met the principles laid out in that guidance.
The Charity's strategy for achieving its objectives is to agree a list of priorities for the year and to move towards these objectives through agreeing actions at Council meetings, on site, and in meetings with visitors and local neighbours.
## **DIRECTORS AND MEMBERS OF THE BOARD OF TRUSTEES**
The Directors and Members of the Board of Trustees who served during the year were:
- Jayaraja Chair (appointed 25 September 2019) • Lokabandhu ���������������������������������������������������������� • Robin Collett �����������������������������
## **FINANCIAL REVIEW**
Incoming resources for the year amounted to £��������which was comprised of donations�����������������������.� Expenditure amounted�to £�������
## **Reserves policy**
The closing balance of total reserves is £1,5��,��� of which Restricted reserves total�ed £�������
The Trustees aim to have a reserve level of approximately 6 months' of expenditure, slightly higher than if income was more certain. Unrestricted expenditure for 6 months is estimated at £37,000. Free reserves at the end of the year were £�����
## **PLANS FOR FUTURE PERIODS**
The charity is currently focusing it's efforts in two areas. Firstly, the renovation of the buildings at Alfoxton Park so that they may be brought back into use and run as a Buddhist Retreat Centre. And secondly, operating a summer and autumn schedule of camping retreats in the grounds of Alfoxton Park.
## **FUND-RAISING ACTIVITIES**
������������������������������������������������������������������������������������������������������������� �����������������������
## **GOING CONCERN**
The charity trustees are confident that it is a going concern.
## **CHAIRMAN'S REPORT**
The Alfoxton Park Trust is a UK charity, no. 1189214. The Trust acquired the Alfoxton Park Estate in late June 2020, following a generous donation made for this specific purpose. Subsequently, we were able to claim GiftAid on this donation, which has largely funded the work of the Trust since then. Other funds have come from generous donations made by members of the public, and by those attending our events.
We are currently a community comprising around ten individuals resident at Alfoxton. The number varies as volunteers join us to share in our lifestyle and contribute to the project. Over the last year, we have hosted around 300 volunteers to help with the work of the Trust.
A typical day revolves around carrying out renovation works, restoring the land, hosting retreats, and taking care of the day-to-day tasks of living in community. Daily group meditation, meetings and meals make our lifestyle convivial and focussed.
Our activities over the last year can be divided into three strands, conducting retreats, restoring the buildings, and caring for the land.
3
**THE ALFOXTON PARK TRUST TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 202�**
## **CHAIRMAN'S REPORT (continued)**
## **Retreats**
We have been engaged in bringing together Buddhist teachings and western culture through holding a number of retreats. Due to the dilapidated state of the buildings, these have all been camping retreats. In keeping with the Buddhist ideal of dana, or generosity, these have all been ‘by donation’, but we have been rewarded with many very generous donations.
The retreats we have held to date include:
- work retreats,
- music improvisation,
- appreciation of the poetry of Wordsworth and Coleridge,
- silent meditation retreats.
Our retreats are facilitated by ordained members of the Triratna Buddhist Order, some of whom enjoy successful careers in academia alongside their commitment to Buddhism. They are open to all, and participants have included local residents, members of the general public, members of the national Triratna Buddhist Order, members of the Alfoxton community, and volunteers.
Additionally, we had a public performance of The Rime of the Ancient Mariner and a classical music concert for the local community.
## **Property Restoration**
Another main objective is to restore the dilapidated Grade II listed Manor House and other buildings on the Estate. To this end, we have:
- obtained full planning permission and listed building consent for the substantial refurbishment of the interior of the main house.
- Enlisted architects, surveyors, and planning consultants to provide plans for additional works to be carried out, including to some of the outbuildings .
- Removed all asbestos internally from the main building.
- Removed rot and replaced the most urgent sections of the roof that were no longer watertight.
- Renovated the adjacent cottage to a high eco-standard.
- Reroofed the cottage and coach house.
- Re-rendering the coach house, using traditional breathable lime rendering techniques.
- Demolishing and rebuilding
## **Caring for the land**
Alfoxton Park sits in 52 acres, including ancient woodland, parkland and a walled garden. Many parts of the site are designated with SSSI status, it is also classified as an area of outstanding natural beauty.
- In keeping with the species-rich landscape, we have commissioned bat and tree surveys, and engaged a landscape design consultancy service to preserve and enhance the wildlife and cultural legacy that Alfoxton Park provides, in a sensitive and appropriate manner.
- In addition, we are building positive relationships with a wide range of local groups, for instance the Holford Parish Council, the Quantock Rangers, and the local Coleridge Society.
- We have carried out tree surgery work to mature specimen trees with decay that posed a risk to the main building and human life.
- We are involved in a programme of removing bracken, thistles, brambles, ragwort and other invasive weeds, mostly by hand.
- We are planting new trees and fencing small parcels of land to prevent the significant damage deer cause to establishing trees.
- We are renovating the walled garden to its former glory using Permaculture and other ecologically sound gardening techniques.
- We host a Permaculture training course at Alfoxton and use the participants as volunteers to help in the restoration process.
- In the last year, we have run two tree-planting events and run permaculture training courses.
4
**THE ALFOXTON PARK TRUST TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2021**
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of the charity, including the net income and expenditure of the charity for the year. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP
- make judgements and estimates that are reasonable and prudent;
- ~~p~~ repare the financial statements on the going concern basis unless it is inappropriate to
- presume that the company will continue in business.
This report has been prepared in accordance with the statement of recommended practiceAccounting and Reporting by Charities.
This report was approved by the Trustees on �����������
and signed on their behalf by
Jayaraja Trustee
5
############################################################################### `Specimen planting plan for one area in burial ground`
## **THE ALFOXTON PARK TRUST STATEMENT OF FINANCIAL ACTIVITIES (Incorporating the Income and Expenditure Account) FOR THE PERIOD ENDED 31 DECEMBER 2021**
|notes
**Income From**
Grants and Donations
2
Charitable activities
3
Other Income
**Total Income**
**Expenditure on**
Charitable Activities
4
**Total Expenditure**
**6**
Net gains (losses) on investments
**Net Income**
**(Expenditure)**
Transfer between funds
**Net Movement in Funds**
**Reconcilliation Of Funds**
Funds brought forwards
**Total Funds carried forward**|**2021**|**2020**|
|---|---|---|
||Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
**£**
29,447
706
**30,153**
21,649
**21,649**
1,320
**1,320**
**52,416**
**706**
**53,122**
103,483
706
**104,189**
**103,483**
**706**
**104,189**
2
**2**
**(51,065)**
**0**
**(51,065)**
87,782
(87,782)|Total
Funds
£
1,641,719
4,115|
|||**1,645,834**|
|||74,837|
|||**74,837**|
||||
|||**1,570,997**|
||**36,717**
**(87,782)**
**(51,065)**|**1,570,997**|
||1,323,780
247,217**1,570,997**||
||**1,360,497**
**159,435 1,519,932**|**1,570,997**|
## **Continuing Operations**
None of the charity's activities were discontinued during the current year. All of the charity's activities are continuing.
The notes on pages 12 to 17 form part of these financial statements.
�
**THE ALFOXTON PARK TRUST BALANCE SHEET**
AS AT 31 December 2021
|Notes
**Fixed Assets**
Tangible Assets
9
**Current Assets**
Debtors and Prepayments
10
Cash at bank and in hand
**Liabilities**
Creditors :amounts falling due
within one year
11
**Net Current Asssets**
**Liabilities**
Creditors :amounts falling due
after one year
**Net Assets**
**The Funds of the Charity**
Restricted Funds
14
Unrestricted Funds
14
**Total Charity Funds**
��|**2021**
£
1,358,766
45,505
160,247
**205,752**
(44,586)
**161,166**
-
**1,519,932**
159,435
1,360,497
**1,519,932**|**2020**|
|---|---|---|
|||£
1,291,784
355,653
92,068|
|||**447,721**
(168,508)|
|||**279,213**
-|
|||**1,570,997**
247,217
1,323,780|
|||**1,570,997**|
The financial statements were approved by the board of trustees on 24 May 2022 and signed on its behalf by:
## **Jayaraja (Chair of Trustees)**
## Trustee
The notes on pages 9 to 14 form part of these financial statements.
�
**THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 202�**
## **1. STATEMENT OF ACCOUNTING POLICIES**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments, and in accordance Financial Reporting Standard 102 – 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and 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 (FRS102) (effective 1 January 2019).
The Alfoxton Park Trust meets the definition of a public benefit entity under FRS 102.
The presentation currency of the financial statements is the Pound Sterling (£).
## **1.2 Charitable status**
The charity is a CIO registered with the Charities Commission on 27 April 2020 and its trustees appointed under its constitution on 21 September 2019.
## **1.3 Fund accounting**
General funds are unrestricted funds which are available for use at the direction of the trustees in the furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the company for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **1.4 Income**
Voluntary income including donations, gifts and legacies and grants that provide core funding or are of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting years; or
- The donor has imposed conditions, which must be met before the charity has unconditional entitlement.
Investment income is included when receivable.
## **1.5 Expenditure**
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Expenditure includes any VAT which cannot be fully recovered.
�
**THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 202�**
## **1. STATEMENT OF ACCOUNTING POLICIES (CONTINUED)**
## **1.6 Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.7 Creditors and provisions**
Creditors and provisions are recognised where The Alfoxton Park Trust has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **1.8 Going concern**
The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees have considered the potential impact on the charity of the current global pandemic known as COVID-19. In the opinion of the Trustees there will be no material adverse effect on the charity's ability to continue. The trustees believe the charity is well placed to manage its business risks successfully despite the current uncertain economic outlook. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
## **1.9 Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Land and Buildings 2% per annum straight line Furniture and equipment 10% per annum straight line �������������� ���������������������������
The Trustees have estimated the value of land in proportion to the land and building and have considered that an estimate of 20% of the original purchase costs is reasonable and should not be depreciated.
1�
THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021
|Unrestricted
Funds
Restricted
Funds
£
£
**2. Donations and Legacies**
Donations
29,447
706
Gift Aid
-
-
**29,447**
**706**
**3. Income from charitable activities**
Retreats and other events
21,649
-
**21,649**
**-**
**4. Charitable expenditure**
Direct Costs
Support
Costs
£
£
**Activity**
(note 4a)
(note 4b)
Retreats and other events
9,596
Projects: Buddhist
87,935
6,658
**97,531**
**6,658**
**4a. Direct costs**
Staff costs
council tax
Insurance
Repairs and maintenance
Depreciation
Bank charges
Legal and professional fees
Food for the community
Vehicle expenses
Governance
**Governance:**
Audit /Examination
Accountancy||**2021**|**2020**|
|---|---|---|---|
||Unrestricted
Funds
Restricted
Funds
£
£
29,447
706
-
-|Total
Funds
**£**
**30,153**
**-**
**30,153**
**21,649**
**21,649**
**2021**
**Total**
**£**
**9,596**
**94,593**
**104,189**
**2021**
**27,745**
**5,469**
**8,615**
**3,729**
**24,549**
**701**
**1,450**
**17,215**
**-**
**2,613**
**1,075**
**87,935**
**500**
**575**
**1,075**|Total
Funds
£
**1,314,424**
**327,295**|
||**29,447**
**706**||**1,641,719**|
||||4,115|
||**21,649**
**-**||**4,115**|
||Direct Costs
Support
Costs
£
£
(note 4a)
(note 4b)
9,596
87,935
6,658||**2020**
**Total**
£
8,384
66,453|
||**97,531**
**6,658**||**74,837**|
||||**2020**|
||||**11,180**
**7,714**
**6,360**
**21,328**
**16**
**-**
**2,557**
**4,545**
**5,100**|
||||**58,800**|
||||**4,200**
**900**|
||||**5,100**|
��
## THE ALFOXTON PARK TRUST
## NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021
|**4b. SUPPORT COSTS**
Office expenses
Travel and meetings
Utility bills
Volunteer expenses|**2021**
£
**3,436**
**745**
**2,456**
**20**
**6,658**|**2020**|
|---|---|---|
|||£
**1,566**
**109**
**3,407**
**2,571**|
|||**7,653**|
## **6. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE**
|**6. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE**||
|---|---|
|**2021**
Staff
costs
Depreciation
&
Amortisation
Other
costs
Total
£
£
£
£
Charitable activities
27,745
24,549
51,894
**104,189**
**27,745**
**24,549**
**51,894**
**104,189**
**7. NET INCOME**
**2021**
**£**
The excess of expenditure over income is stated after charging:
Depreciation of fixed assets - owned by the charity
**24,549**
Auditors & examiners remuneration
**500**
**8. STAFF COSTS**
**2021**
£
Wages and salaries
**25,853**
Social security costs
**-**
Other pension costs
**1,892**
**27,745**
The average monthly number of employees during the year was as follows:
**2021**
Project workers and administrative staff
**4**|**2020**|
||Total
£
**74,837**|
||**74,837**|
||**2020**|
||**£**
**21,328**
**4,200**|
||**2020**|
||£
**11,180**
**-**
**-**|
||**11,180**|
||**2020**|
||**4**|
No employee received remuneration totalling to more than £60,000 in this year.
1�
THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021
|**9. TANGIBLE FIXED ASSETS**
Freehold land &
buildings
**£**
**Cost**
Balance at 31/12/2020
1,312,073
additions in the period
81,180
**Balance at 31/12/2021**
**1,393,253**
**Depreciation**
at 31/12/2020
21,224
Charge for the period
22,848
**Balance at 31/12/2021**
**44,072**
**Net book value**
**At 31/12/2021**
**1,349,181**
**at 31/12/2020**
**1,290,849**
Fixed assets are all used for charitable purposes.
**10. DEBTORS**
Prepayments and accrued income
Other debtors|Furniture &
equipment
**£**
1,039
6,602
**7,641**
104
764
**868**
**6,773**
**935**|Motor
vehicles
**£**
-
3,750
**3,750**
938
**938**
**2,813**
**-**
**2021**
**£**
45,505
-
**45,505**|Total
**£**
**1,313,112**
**91,532**|
|---|---|---|---|
||||**1,404,644**|
||||**21,328**
**24,549**|
||||**45,877**|
|||||
||||**1,358,766**|
|||||
||||**1,291,784**|
||||**2020**|
||||**£**
355,653
**-**|
||||**355,653**|
1�
THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021
|**. CREDITORS: amounts falling due within one year**
Trade creditors
Accruals and deferred income
Loans|**2021**
**2020**|
|---|---|
||£
£
3,687
1,290
900
27,218
40,000
140,000|
||**44,587**
**168,508**|
## **11. CREDITORS: amounts falling due within one year**
## **12. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Fixed assets
Current assets
Current liabilities|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2021 Total**
**2020 Total**
**£**
**£**
**£**
**£**
1,199,331
159,435
1,358,766
1,291,784
205,752
205,752
447,721
(44,587)
(44,587)
(168,508)|
|---|---|
||**1,360,496**
**159,435**
**1,519,932**
**1,570,997**|
## **13. MOVEMENT IN FUNDS**
|**. MOVEMENT IN FUNDS**||
|---|---|
|Unrestricted Funds
Restricted Funds:
Alfoxton Park Renovation
Tree planting appeal
Total Restricted funds
Total funds|**at 31**
**December**
**2020**
**incoming**
**resources**
**outgoing**
**resources**
**transfers**
**at 31**
**December**
**2021**
**£**
**£**
**£**
**£**
**£**
1,323,780
52,416
(103,482)
87,782
1,360,496
247,217
(87,782)
159,435
706
(706)|
||**247,217**
**706**
**(706)**
**(87,782)**
**159,435**|
|||
||**1,570,997**
**53,122**
**(104,188)**
**1,519,932**|
The Alfoxton Park Renovation restricted fund was established for the renovation of Alfoxton Park and outbuildings to create a retreat centre for Buddhist and artistic events. The transfer of £87,872 to unrestricted funds is the amount capitalised in the period.
## **14. RELATED PARTY TRANSACTIONS**
The charity is not controlled by any one individual.
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14