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2024-12-31-accounts

Charity Registered number:

1189214

THE ALFOXTON PARK TRUST

TRUSTEES' REPORT

AND

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

THE ALFOXTON PARK TRUST

FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024

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 Lokabandhu Secretary & Treasurer Robin Collett Philip Shann

(appointed 25 September 2019) (appointed 25 September 2019) (appointed 25 September 2019) (appointed 7 June 2023)

CHARITY REGISTERED NUMBER

1189214 (England and Wales)

PRINCIPAL ADDRESS

Alfoxton Park Estate Alfoxton Park Holford Somerset TA5 1SG,

INDEPENDENT EXAMINER

Bill McGinley Upper Demesne The Turning Garway Herefordshire HR2 8RJ

PRINCIPAL BANKERS

The Co-operative bank PLC PO Box 250 Skelmersdale WN8 6WT

Metro Bank 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 2024

Trustees

The Trustees are pleased to present the Trustees Report together with the financial statements of the charity for the period ended 31 December 2024.

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 practice 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 2024

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 2024

FINANCIAL REVIEW

Incoming resources for the year amounted to £228,432, which was comprised of donations, income from events and interest on bank reserves. Expenditure excluding the building renovation project amounted to £136,892. Over £40,000 was spent on building renovations.

RESERVES POLICY

The Trustees aim to have a reserve level equalling approximately 6 months' of expenditure, slightly higher than would be appropriate if income was more certain. Unrestricted expenditure for 6 months is estimated at £37,000, calculated as essential core running expenses including bills and food.

The charity’s closing total asset balance was £1,549,184 including a restricted reserves fund totalling £24,525 and fixed assets of £1,417,200. The closing balance of its net current assets (free reserves) stood at £107,385.

PLANS FOR FUTURE PERIODS

The charity is currently focusing its 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 begun an ambitious program 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 2024

I am pleased to present the annual report for The Alfoxton Park Trust for the year 2024. Building upon the foundations established in previous years, we continue the work of creating a vibrant community which is engaged not only in protecting this historic building but in creating a land-based Buddhist retreat centre with an emphasis on the arts.

Continuing Our Commitment to Community:

Our community continues to thrive, with deepening friendships and engagement with the project. Throughout the year we have hosted approximately 50 volunteers, comprising both members of the local community and many international visitors from around the world. These volunteers join us for varying lengths of time to contribute to our ongoing work, strengthening both our global connections and our roots in the local area.

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. We now host three mitra study groups each Monday evening and have initiated regular full moon practice days of meditation, reflection and Dharma study. Each morning includes a brief Dharma talk in 2024 a regular the theme was friendship and the spiritual life.

Our Activities in 2024:

In 2024, 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 2024 we held a two-week meditation intensive, three singing and mantra retreats, an awakening creativity arts retreat, a mindful communication retreat, and three working retreats with different Buddhist centres bringing members of their communities here to help with the work and practice together. We also hosted three land-based retreats focusing on caring for the trees and land, tending the garden, and a harvest retreat where we processed, froze and pickled the produce from our garden.

4

THE ALFOXTON PARK TRUST TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2024

Property Restoration:

Our commitment to restoring the dilapidated Grade 2 listed Manor House and the surrounding buildings has progressed significantly. We had an in-depth survey undertaken of the roof and top floor and completed the urgent and essential work to prevent further decline of the roof. We completed the sewage system with the installation of the biodigester, a project that had been awaiting environmental planning permission. We renovated the kitchen, repairing walls where plaster had deteriorated, and beautified the space with fresh decoration. We have addressed the worst of the ground floor windows which have now been stripped, rebuilt, painted and re-glazed and restored. Additionally, we created two new compost loos to support our sustainable living practices.

2. Caring for the Land:

Recognizing the ecological significance of Alfoxton Park, we have been actively engaged in preserving and enhancing its natural beauty. With support from Quantock Landscape Partnership and nationally recognised tree expert Paul Rutter, we have planted a number of native trees and cared for recently planted trees, which continue to do well. This year we also began work on a disabled accessible gardening area, created a pond in the walled garden, and continued our permaculture practices with five new graduates from our Permaculture Design Course. A significant achievement was nearly two months of the majority of our fruit and vegetables coming directly from our garden, marking an important step toward self-sustainability.

3. Arts and Culture:

We held numerous arts events throughout the year, a beautiful addition to the grounds and close to the house has been the transformation of a dead tree trunk into the form of an albatross in memory of the first reading of ‘The Rime of the Ancient Mariner’.

We hosted a winter concert featuring classical music, poetry and singing. In the summer months we hosted two musical performances, one of classical music and another of jazz. This year also saw the formation of a choir bringing together members of the Alfoxton community and local residents, further strengthening our artistic presence and community bonds.

4. Mental Health:

We continued our focus on promoting mental health and wellbeing through our various retreats and community activities. A significant development this year was hosting an 8-week event led by Exeter University focused on nature connection and mental health specifically for men. Additionally, the mindful communication retreat, singing and mantra sessions, and our land-based work all contribute to creating a nurturing environment for psychological wellbeing. We also hosted a day for refugees staying in Bridgwater, on their visit they worked in the garden, enjoyed the grounds and played games and music together.

Looking Forward:

In the past year, our community has grown stronger, our connections with local and global communities more vibrant, and our infrastructure significantly improved. The completion of key projects such as the biodigester and kitchen renovation marks important milestones in our journey.

As we move forward, I look forward to detailing the successes of 2025, 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 2024

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:

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 26[th] August 2025

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 2024

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
Reconciliation Of Funds
Funds brought
forwards
Total Funds carried forward		 2024 2023
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
191,877
191,877
35,175
35,175
20
20
227,072
0
227,072
136,892
136,892
136,892
0
136,892
1,360
0
1,360
91,540
0
91,540
40,337
(40,337)
0		 Total
Funds
£
89,715
27,580
3,107
120,403
133,803
133,803
162
(13,239)
0
131,877
(40,337)
91,540		 (13,239)
1,392,784
64,861
1,457,645		 1,470,884
1,524,661
24,524 1,549,184
 1,457,645

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 2024

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 Assets
Liabilities
Creditors :amounts falling due
after one year
12
Net Assets
The Funds of the Charity
Restricted Funds
14
Unrestricted Funds
14
Total Charity Funds		 2024
£
1,417,200
13,670
154,574
168,244
(36,260)
131,984
0
1,549,184
24,525
1,524,585
1,549,184		 2023
£
1,401,797
25,377
168,619
193,996
(38,148)
155,848
(100,000-)
1,457,645
64,861
1,392,784
1,457,645

The financial statements were approved by the board of trustees on 26[th] August 2025 and signed on its behalf by:

Jayaraja (Chair of Trustees)

Trustee

The notes on pages 9 to 15 form part of these financial statements.

8

THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024

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:

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 2024

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 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 2024

2. Donations and Legacies

2. Donations and Legacies
2024
Unrestricted Funds
Restricted Funds
Total Funds
Donations
180,271 - 180,271
Gift Aid
11,606 - 11,606
191,877
- 191,877

3. Income from charitable activities
2024
Unrestricted Funds
Restricted Funds
Total Funds
Retreats and other events
35,175 - 35,175
35,175 - 35,175
4. Charitable expenditure
2024
Direct Costs Support Costs
Total
(note 4a)
(note 4b)
Retreats and other events
13,176
13,176
Projects: Buddhist
108,488 14,530 123,019
Governance
697 697
121,664 15,227 136,892
4a. Direct costs
2024
Staff costs
11,364
11,364
Rent & council tax
19,724
19,724
Insurance
17,799
17,799
Repairs and maintenance
-
-
Depreciation
27,649
27,649
Bank charges
681
681
Legal and professional fees
713
713
Food for the community
28,979
28,979
Vehicle expenses
1,579
1,579
Admin and other costs
-
108,488 - 108,488
Governance:
Audit /Examination
352
352
Accountancy
345
345
697
697		 2023
Total Funds
89,715
-
89,715
2023
Total Funds
27,580
27,580
2023
Total
7,775
126,028
133,803
2023
15,797
26,853
12,311
3,012
26,571
789
-
26,887
2,543
-
114,943
181
181

11

THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024

4b. SUPPORT COSTS
Office and admin expenses
Travel and meetings
Utility bills
Volunteer expenses		 2024
£
4,454
916
9,161
14,530		 2023
£
2,072
1,479
7,034
500
11,085

6. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE

6. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE ENDED BY EXPENDITURE TYPE
Staff costs
Depreciation
&
Amortisation
Other costs
£
£
£
Charitable activities
11,364
27,649
97,879
11,364
27,649
97,879
7. NET INCOME
The excess of expenditure over income is stated after charging:
Depreciation of fixed assets - owned by the charity
Auditors & examiners remuneration		 2024
Total
£

136,892

136,892
2024
£
27,649
352		 2023
Staff costs
Depreciation
&
Amortisation
Other costs
£
£
£
11,364
27,649
97,879		 Total
£
133,803
11,364
27,649
97,879		 133,803
2023
£
26,571
-
8. STAFF COSTS
2024
£
Wages and salaries
10,956
Social security costs
-
Other pension costs
408
11,364
The average monthly number of employees during the year was as follows:
Project workers and administrative
staff
No employee received remuneration totalling to more than £60,000 in this
year.		 2023
£
15,166
-
631
15,797
2024
2		 2023
3

The Chairman of the Charity received remuneration of £6,360 in his capacity as Director of the building project

12

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024

THE ALFOXTON PARK TRUST

9. TANGIBLE FIXED ASSETS
Freehold land &
buildings
£
Cost
Balance at 31/12/2023
1,487,126
additions in the period
40,337
Balance at 31/12/2024
1,527,463
Depreciation
at 31/12/2023
92,662
Charge for the period
25,532
Balance at 31/12/2024
118,194
Net book value
At 31/12/2024
1,409,269
at 31/12/2023
1,394,464
Fixed assets are all used for charitable purposes.		 Furniture &
equipment
£
9,079
2,716
11,795
2,684
1,179
3,863
7,932
6,395		 Motor
vehicles
£
3,750
-
3,750
2,813
937
3,750
-
937		 Total
£
1,499,955
43,053
1,543,008
98,159
27,649
125,808
1,417,201
1,401,796
10. DEBTORS
Prepayments and accrued income
Other debtors		 2024
£
13,670
-
13,670		 2023
£
25,377
-
25,377

13

THE ALFOXTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024

11. CREDITORS: amounts falling due within one year
Trade creditors
Accruals and deferred income
Private Loans
12. CREDITORS: amounts falling due after one year
Private loan		 2024
2023
£
£
1,260
2,798
350
35,000
35,000
36,260
38,148
2024
2023
£
£
100,000
100,000

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted

Unrestricted
Fixed assets
Current assets
Current liabilities
Long term liabilities		 Funds
Restricted Funds
2024 Total
2023
£
£
£
£
1,392,677
24,524
1,417,201 1,401,797
168,170
168,170
193,995
(36,260)
(36,260)
(38,148)
0
0
(100,000)
1,524,586
24,524
1,549,110
1,457,644

14. MOVEMENT IN FUNDS

14. MOVEMENT IN
FUNDS
Unrestricted Funds
Restricted Funds:
Alfoxton Park Renovation
Tree planting appeal
Total Restricted funds
Total funds		 at 31
December
2023
incoming
resources
outgoing
resources
transfers
at 31
December
2024
£
£
£
£
£
1,392,782
228,358
(136,892)
40,337
1,524,585
64,861
(40,337)
24,525
107,146
0
0
(40,337)
24,525
1,470,885
228,358
(136,892)
1,549,110

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 £40,337 to unrestricted funds is the amount capitalised in the period.

15. RELATED PARTY TRANSACTIONS

The charity is not controlled by any one individual.

During the year there were no material related party transactions.

14

INDEpENDE￿r WMINEKS REPORTTO THE TRUSfEES OF THE AIFOXTON TRUST I report on the accounts of the charlty the Triratna Trust for the Year Ended 31° December 2024 RESPECTIVE RESPONSIBULTIES OF TRusfEES AND EXAMINER As the charitys tTUStees you are responsible for the preparatx>n of the accounts: you consider that the audit requirement of section 43{2)e of the Charitie5 Art 1993 {the Act) does not appty,. it is my responsibility to stste, on the basis of procedures specified in the General Directions given by the charity Commissioners under section 4317) Ibl of the A¢ whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINERS REPORT. My examinatron was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review ofthe accounting records kept by the charity and comparison of the accounts presented with records. It indudes consideration of any unusual items or disclosures in the accounts and seekin8 explanations from you as trustees concerning such matters. The procedures undertaken do not provide ewdence that would be required in an audi¢ and consequently I do not express an audit opinion given by the accounts. INDEPENDENT EXAMINER. STATEMENT All records that were asked for were provided to me in my examination. and no matters came to light that SLw¥ested true and accurate records were not being kept Signed: W. McGin ey Upper Demesne. The Turnin& Garway. HR2 8RJ 21 August 2025