**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
1
**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.
2
**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)
3
**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.
4
**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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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
5
**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:
- 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;
- prepare 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 31 October 2023
and signed on their behalf by
Jayaraja Trustee
6
## **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
159,436**1,519,932**|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.
7
**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.
8
**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:
- 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.
9
**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.
10
## 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**|
11
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
12
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**|
13
## 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.
14