Charity Registered number:
1189214
THE ALFOXTON PARK TRUST
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
THE ALFOXTON PARK TRUST FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022
| Contents | Pages |
|---|---|
| Company information | 1 |
| Trustees' report | 2 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 14 |
THE ALFOXTON PARK TRUST CHARITY INFORMATION
Trustees
Jayaraja Chair (appointed 25 September 2019) Lokabandhu Secretary & Treasurer (appointed 25 September 2019) Robin Collett (appointed 25 September 2019) Philip Shann (appointed 7 June 2023)
CHARITY REGISTERED NUMBER
1189214 (England and Wales)
PRINCIPAL ADDRESS
Alfoxton Park Estate Alfoxton Park Holford Somerset TA5 1SG,
Independent Examiner
Fay Pritchard 8 Darwin Street Shrewsbury SY3 8QE
PRINCIPAL BANKERS
The Co-operative bank PLC PO Box 250 Skelmersdale WN8 6WT MetroBank 18-19,Stall,Street
Bath BA1 1QB
SOLICITORS
Frederic Hall York House 32 Cheriton Gardens Folkstone Kent CT20 2UR
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THE ALFOXTON PARK TRUST TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022
Trustees
The Trustees are pleased to present the Trustees Report together with the financial statements of the charity for the period ended 31 December 2022.
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 £530 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.
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THE ALFOXTON PARK TRUST TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022
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 Secretary & Treasurer (appointed 25 September 2019) • Robin Collett (appointed 25 September 2019) • Philip Shann (appointed 7 June 2023)
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THE ALFOXTON PARK TRUST TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022
FINANCIAL REVIEW
Incoming resources for the year amounted to £79,751, which was comprised of donations and income from events. Expenditure amounted to £128,798
Reserves policy
The closing balance of total reserves is £1,470,884 of which Restricted reserves totalled £107,146
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.
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
The charity has began an ambitious programme of fundraising seeking support from a range of institutions and supportive individuals.
GOING CONCERN
The charity trustees are confident that it is a going concern.
Chairs Report for 2022
I am pleased to present the annual report for The Alfoxton Park Trust for the year 2022. Building upon the foundations established in 2021, we continue the work of creating a vibrant community which is engaged in creating a landbased Buddhist retreat with an emphasis on the arts.
Continuing Our Commitment to Community: Our community, now comprises around 14 residents. Throughout the year we have a flow of volunteers from across the globe joining us for a week or two sometimes times longer.
Our day revolves around a harmonious blend of renovation work, ecological restoration, hosting retreats, and the day-to-day tasks of communal living. This rhythm of the weeks, the community activities and working alongside each other continues to support friendship and a deep sense of connection. The Three Jewels of Buddhism: Central to our practice is commitment to the Three Jewels - the Buddha, the Dharma, and the Sangha. These "jewels" inspire and inform our actions, reminding us of the importance of cultivating mindfulness, navigating life's complexities with grace, and supporting one another on the path of cultivating wisdom and compassion.
Our Activities in 2022: In 2022, our activities can be divided into four core strands, each aligned with our commitment to fostering a community. Retreats: We have continued our practice of bringing together Buddhist teachings and Western culture by hosting a range of retreats. In 2022 we had a meditation intensive, a number of working retreats focussed on land, garden or renovation of the buildings. We also held a mindful communication retreat and nature connection events.
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THE ALFOXTON PARK TRUST TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022
1. Property Restoration:
Our commitment to restoring the dilapidated grade 2 listed Manor House and the surrounding buildings has progressed. We undertook significant groundwork in replacing the sewage pipes, and separating the sewage water, grey water and rainwater. We were unable to complete the project with a new biodigester as we were waiting for planning permission from the Environmental agency. AS part of the groundwork we put in place the necessary infrastructure to provide power, fire safety and wifi capability.
- Caring for the Land: Recognizing the ecological significance of Alfoxton Park, we have been actively engaged in preserving and enhancing its natural beauty. This involves tree surgery, invasive weed
removal, tree and hedge planting, and the renovation of the walled garden using ecologically sound gardening techniques. We have successfully run our second permaculture design course from which there were 10 graduates. We received a grant to construct an attractive and functional deer fence which has enabled us to begin the process of restoration of the north garden.
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Arts and culture: We held a number of arts events, including a performance of dance by the State of Trust dance company who created a choreography piece inspired by the anti-slavery talks of Samuel Taylor Coleridge as part of the 250 th anniversary of his birth. We hosted poetry and writing workshops by respected poets and writers such as Katie Griffiths, and Sara Hudston.
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Mental health: We began hosting the Somerset Wildlife trust nature connection sessions, promoting mental health and wellbeing through spending time in nature, engaging in a therapeutic session with other people. We have had school visits, and nature connection days. We collaborated with the Quantock landscape Partnership Scheme in putting on walks drawing on Dorothy Wordsworth memoirs which were begun at Alfoxton Park.
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Looking Forward: In the past year, our community has grown stronger, and our connections with the local community more vibrant helping out with Holford Village events as well as welcoming several hundred volunteers to help with our trust's various initiatives. We launched a documentary of the project made by Hartley Woolfe which we screen in local villages and further afield which helped raise valuable funds as well as support.
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As we move forward I look forward to detailing the successes of 2023. With gratitude to all who have given of their time skills and energy to help Alfoxton Park
Yours sincerely
Jayaraja Chair of the Board of Trustees of Alfoxton Park Trust
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THE ALFOXTON PARK TRUST TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to
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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 31 October 2023
and signed on their behalf by
Jayaraja Trustee
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THE ALFOXTON PARK TRUST STATEMENT OF FINANCIAL ACTIVITIES (Incorporating the Income and Expenditure Account) FOR THE PERIOD ENDED 31 DECEMBER 2022
| 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 |
Unrestricted Funds Restricted Funds Total Funds £ £ £ 68,515 68,515 11,233 11,233 0 79,747 0 79,747 128,799 128,799 128,799 0 128,799 4 0 4 (49,047) 0 (49,047) 52,289 (52,289) 0 |
Total Funds £ 30,153 21,649 1,320 |
|---|---|---|
| 53,122 | ||
| 104,189 | ||
| 104,189 | ||
| 2 | ||
| (51,065) 0 |
||
| 3,242 (52,289) (49,047) |
(51,065) | |
| 1,360,496 159,4361,519,932 |
1,570,997 | |
| 1,363,738 107,147 1,470,885 |
1,519,932 |
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.
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THE ALFOXTON PARK TRUST BALANCE SHEET
AS AT 31 December 2022
| 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 |
2022 £ 1,386,081 39,143 87,794 126,937 (42,134) 84,803 - 1,470,884 107,147 1,363,737 1,470,884 |
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 |
The financial statements were approved by the board of trustees on 31 October 2023 and signed on its behalf by:
Jayaraja (Chair of Trustees)
Trustee
The notes on pages 9 to 14 form part of these financial statements.
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THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022
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:
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The donor specifies that the grant or donation must only be used in future accounting years; or
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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.
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THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022
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 Motor Vehicles 25% 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.
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THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022
| Unrestricted Funds Restricted Funds £ £ 2. Donations and Legacies Donations 57,456 - Gift Aid 11,059 - 68,514 - 3. Income from charitable activities Retreats and other events 11,233 - 11,233 - 4. Charitable expenditure Direct Costs Support Costs £ £ Activity (note 4a) (note 4b) Retreats and other events 6,124 Projects: Buddhist 122,674 128,799 - 4a. Direct costs Staff costs Rent & council tax Insurance Repairs and maintenance Depreciation Bank charges Legal and professional fees Food for the community Vehicle expenses Admin and other costs Governance Governance: Audit /Examination Accountancy |
2022 | 2021 | |
|---|---|---|---|
| Unrestricted Funds Restricted Funds £ £ 57,456 - 11,059 - |
Total Funds £ 57,456 11,059 68,514 11,233 11,233 2022 Total £ 6,124 122,674 128,799 2022 23,129 13,379 10,777 16,907 25,710 369 - 18,962 4,548 8,294 600 122,674 600 600 |
Total Funds £ 30,153 - |
|
| 68,514 - | 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 |
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THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022
| 4b. SUPPORT COSTS Office expenses Travel and meetings Utility bills Volunteer expenses 6. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE Staff costs Depreciation & Amortisation Other costs £ £ £ Charitable activities 23,129 25,710 79,960 23,129 25,710 79,960 7. NET INCOME The excess of expenditure over income is stated after charging: Depreciation of fixed assets - owned by the charity Auditors & examiners remuneration 8. STAFF COSTS Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Project workers and administrative staff |
2022 £ 973 1,719 2,263 61 5,016 2022 Total £ 128,799 128,799 2022 £ 25,710 - 2022 £ 21,682 - 1,447 23,129 2022 3 |
2021 |
|---|---|---|
| £ 3,436 745 2,456 20 |
||
| 6,658 | ||
| 2021 | ||
| Total £ 104,189 |
||
| 104,189 | ||
| 2021 | ||
| £ 25,710 500 |
||
| 2021 | ||
| £ 25,853 - 1,892 |
||
| 27,745 | ||
| 2021 | ||
| 4 |
No employee received remuneration totalling to more than £60,000 in this year.
The Chairman of the Board received remuneration of £6,350 in his capacity as Director of the building project
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THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022
| 9. TANGIBLE FIXED ASSETS Freehold land & buildings £ Cost Balance at 31/12/2021 1,393,253 additions in the period 50,851 Balance at 31/12/2022 1,444,104 Depreciation at 31/12/2021 44,072 Charge for the period 23,865 Balance at 31/12/2022 67,937 Net book value At 31/12/2022 1,376,167 at 31/12/2021 1,349,181 Fixed assets are all used for charitable purposes. |
Furniture & equipment £ 7,641 1,438 9,079 868 908 1,776 7,303 6,773 |
Motor vehicles £ 3,750 - 3,750 938 938 1,876 1,875 2,812 |
Total £ 1,404,644 52,289 |
|---|---|---|---|
| 1,456,933 | |||
| 45,878 25,710 |
|||
| 71,588 | |||
| 1,385,345 | |||
| 1,358,766 | |||
| 10. DEBTORS Prepayments and accrued income Other debtors |
2022 £ 39,143 - 39,143 |
2021 |
|---|---|---|
| £ 45,505 - |
||
| 45,505 |
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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 |
2022 2021 |
|---|---|
| £ £ 1,304 3,687 830 900 40,000 40,000 |
|
| 42,134 44,587 |
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 2022 Total 2,021 £ £ £ £ 1,278,934 107,147 1,386,081 1,358,766 126,937 126,937 205,752 (42,134) (42,134) (44,587) |
|---|---|
| 1,363,737 107,147 1,470,885 1,519,932 |
13. MOVEMENT IN FUNDS
| Unrestricted Funds Resticted Funds: Alfoxton Park Renovation Tree planting appeal Total Restricted funds Total funds |
at 31 December 2021 incoming resources outgoing resources transfers at 31 December 2022 £ £ £ £ £ 1,360,496 79,751 (128,799) 52,289 1,363,738 159,435 (52,289) 107,146 |
|---|---|
| 159,435 0 0 (52,289) 107,146 |
|
| 1,519,931 79,751 (128,799) 1,470,885 |
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 £52,289 to unrestricted funds is the amount capitalised in the period.
14. RELATED PARTY TRANSACTIONS
The charity is not controlled by any one individual. During the year there were no material related party transactions.
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