Reglstèred number.- 00555631 Charlty number: 207480 THE GURDJIEFF SOCIETY (A company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE GURDJIEFF SOCIETY IA company limlted by guarantee) CONTENTS Page Reference and administrative details of the Company. Its Trustses and advlsers Trustees. report Independent audltors, report on the flnanclal statèments statement of financial activities 8-11 12 Balancg shoot 13-14 Notes to the flnanclal ststements 15-28
THE GURDJIEFF SOCIETY IA company limited by guarantee REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees J Connell R C C Temple, Co-chairman L J N Morrocco SEWood A M Planidin N Jobsl A Courtenay-mayers J Thorold, Co-chairman (deceased 13 May 20241 D Belhge S Belhge A W H Gibbs, Joint Treasurer C R Glanville, Joint Treasurer M J K Planidin Company reg15tered number 00555831 Charity registered numbgr 207480 Reglstered office 14th Floor 33 Cavendish Square London W1GOPW Cornpany secretary R C C Temple Independont audltors Surner Audilco Limited 14th Floor 33 Cavendish Square London W1GOPW Bankers National Weslminsler Bank PIC 46 Notting Hill Gale London W113HZ Page 1
THE GURDJIEFF SOCIETY IA company limited by guaranteel TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with th& audited financial slalemen15 of the The Gurdjieff Society for the 1 April 202310 31 March 2024. The Annual report serve5 the puiposes of both a Trustees. report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements ol the charitable company comply with the current stalulory iequirernenls, the requirements of the charitable company's governing document and the provisions of the Slalemenl of Recommended Pracli¢e ISORPI 8ppli¢able lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 20191. Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required Df medium and large companies under the Companies Act 2006 Islralegic Report and Directors, Report) RegLJlalions 2013 has been omilled. ObJectlvg$ and actlvltl&s a. Pollcl6s and oblectlves The Society is conslituled as a charitable company lim(ted by guarantee, incorporated on 6th October 1955 and registered as a charity on 28 December 1967. The charitable cornpany was established under a Memorandum of Asstscialion, which established the objects and powers of the charitable company and is governed under ils Articles of Association. In setting objectives and planning for aclivilies, the Trustees have given due Consideration lo g8noral guidance published by the Charity Commission relating to public benefrt, including the guidance 'Public benefit.. running a charity IPB21'. b. Strategies for achleving obJectlve$ The Society airns lo maintain and develop the pra¢lical approach lo research initiated by G. l. Gurdjieff and his closest pupils and lo invite participation in this work from those members of the public who express a serious interest in pursuing K(. c. Actlvltles undertaken to achleve objective5 The principal aim of the StsGiely is research into the advancement of mankind and the development of thought, through lectures. meetings and other activities - specifically in relation to the teachings of G. l. Gurdjieff. UnLler the Articles of AssocialiDn, the Board ol Directors is known as the Council of the Soclely. The mernbers are also Trustees for the PLJrposes of the Charities Act 1993. When reviewing the Sociells aims and objectives in p18nning future aclivilie8, the Council have considered the Charity Commission's general guidance on public benefit. Page 2
THE GURDJIEFF SOCIETY IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Objectives and activities Icontinuadl d. Maln actlvFtles undertaken to further the Company's purposes for the public beneflt Since 1955, the activities of the Stsciely have been conducted mainly al its two properties in London, and also al its property in Berkshire. The activities include meetings in small groups to exchange views and study specific rnalerial, the practice of dances known as the 'movements" musical a¢livili&s and various crafts, and work on translations and literature associated with the ideas of G. l. Gurdjieff. At our Berkshire facility we aim lo provide an edu¢8tlon in practical work and crafts, which have included glass working, mosaics, painting, sewing, upholstery, carpentry, horticulture, building restoration methods, the study of sound and the making of simple musical inslrumenls, wlh the ernphasis Dn working with a sustained effort of attention, along the lines of the ideas of G. l. Gurdjieff. The Society maintains a website, www.gurdjieff.com, which providès a ¢onla¢t point for enquiries from members of the public. Although some responses are limited lo a passing curiosity, those who express a genuine interest are given advi¢e on any questions raised and on suitable preparatory reading about G. l. Gurdjieffs lea¢hings. When an enquirer demonslrales a sincere interest in engaging in the Sociells aclivilies, then the Coun¢il will off&r an opportunity lo meet and discuss rnatlers in person. Although mainly based in London, the Society also conducts activities in several regional locations within the United Kingdom, and in the Republic of Ireland. Consequently, potential participants are not generally precluded from joining because of their location. Enquiries from those who live outside the UK are referred lo the appropriate Gurdjieff foundation abroad. The Society maintains contacts with numerous such foundations overseas. Members and participants of the Society also hold public meetings at various locations throughout the United Kingdom, where an introduction to the ideas of G. l. Gurdjieff is given and public interest is invited. The Society presents regular cultural events le.g. lectures, musical performances, storytelling and poelryl, open lo the public for a nominal entrance fee, al one of ils London properties, A website, w.¢18rendOneVenI8.org.Uk. is maintained lo advertise these events. The Society also maintains the websitè www.in-betwe&n.org.uk, whlch presents material on a wide range of cultural lopi¢s, including subjects directly related lo the leachlng of G. l. Gurdjieff. Visitors lo the website are invited lo ¢ontribule material for review and possible publication on the sile. The Society does not discriminate against potential participants Dn grounds of age, race. sex or religion. The Council has updated the So¢ietls policy on Safeguarding lo meet requirements of current Charity Commission guidance. A senior Iruslee has been appointed to lake charge of this maller and a learn of Society members stands ready to respond lo any Safeguarding issues which might arise. Appropriate Safeguarding policy documents have b&en created, announced and made available lo all participants in the Society's aclivilies. The Council is fully commilled lo keeping the subject of Safeguarding under regular review and to maintaining future compliance with any further developments in Charrty Commission guidance. Those people who are actively involved in the aims of the SDciely are generally asked lo wnlribule towards the running costs of the Society, bul il has always been, and remains, the Council's firm policy that nobody shall be excluded from activits'es because of lack of financial means. Existing contributors who experience temporary financial difficulties are invited lo resume Conlribuling when they are able to do so. 11 has been established from the oulsel that all members of the Council give of their lirne freely and ng remuneration was paid lo any member of the Council in the year. Expenses paid lo Council members le.g. for travel abroad in furtherance of the Society's aim51 are properly recorded in the accounts. Any private benefit which may accrue to members or participants in the Society's activitles is purely incldental. Page 3
THE GURDJIEFF SOCIETY IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Objectives and activities Icontinuedl The Council members have paid due rogard lo the guidance issued by the ChaTily Commission in deciding what activities the Society should undertake. Achievements and performance . Key performance indicators The slalemenl of financial activities shows a net increase of funds of £118,618 12023.. increase of £45,663) before other recognised gains of £NIL 12023.. £200,000). Reserves stand in lolal al £9,385,453 12023.. £9,266,835) of which, £576,58612023.' £457,968) are free reserves. b. Revlew of actlvltle$ The Society maintained the a¢livilies in pursuan¢e of ils objeclivos al ils three properties. As in previous years, il has continued lo allra¢t new participants from the public lo compensate foT the loss of some existing participants. Financial contributions from participants were sufficient lo fund the Society's running costs and lo maintain ils properties in good condition. The Council continued lo foster relationships wth Gurdjieff foundations in other countries and to this end five of the Iruslees look part in a conference of the IAGF which was held in New York in May 2023. The So¢iely's customary presentations al the Clarendon Events venue continued. Four events were offered, which featured two film showings. one musical Concert and one classical n8rralive with storytelling. The Society continued lo invite and receive enquiries from the public via ils main website, www.gurdjieff.CDm, and the appropriate responses made, lo provide further information about Gurdjieffs leaching and the Society's aclivib'es A range of new material was added to the websit8 https'.Ilwww.in-between.org.ukl. ¢. Investment pollcy and perfomiance The charitable company holds an investment propety from which il d&rives rental income and which is managed by external agents to achieve market returns. The freehold property is valued al eslimaled market value and was revalued in the prior year. Page 4
THE GURDJIEFF SOCIETY IA company limited by guaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal revlew a. Golng concern Now that the Covid pandemic Is over the Sociells educational activities have been resumed largely as before. Regular meetings are again held in the Society's three main properties, with a new recognition of the need for caution as regards the possibility of the transmission of infections. After making appropriate enquiries, the Truste&s have a reasonable expectation that the Company has adequate resources lo Continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concem basis in preparing the financial slalemenls. b. Reserves policy The members of the Council have established a policy whereby the unreslricled funds not committed or invested in tangible fixed assets I'the free reserves") held by the charitable company should be no less than two years anlicipaled expenditure, given the nature Df the income of the society. Al this level the Council feel that they would be ablo lo Continue the Gurrenl activities of the society in the event of a significant drop in funding. The resetves have maintained the required level this year. c. Material Invastmants poll¢y The charitsble company continues to hold an Inveslrnenl property. d. Prlnclpal fundlng The prin¢ipal source of income for the society is donations and legacies received from ils members. The fLJnds are used to provide facilllies for group meetings and discussions and lo prornole similar societies around the world. structurei governance and management a. Constitution The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 22 September 1955. The company is constitLJled under a Memorandum of Association dated 22 September 1955 and is a registered charity number 207480. The ¢ompany was incorporated on 6 O¢lob&r 1955 and commenced trading on that dale. The principal object of the company 15 to maintain and develop research into the advancement of mankind and the development of thought, through lectures, meetings and other aclivilies. The research relates lo the teachings of G.1. Gurdjieff. There have been no changes in the objectives since the last annual report. Page 5
THE GURDJIEFF SOCIETY IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management {contlnuedl b. Methods of appointment or electlon of Trustees The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. New Iruslees are elected by the Council from persons Gonlributing lo the aims of the society. New trustees are selected on the basis of their contribution lo the activities of the society 2nd the benefit they Can provide lo the governance of the society. Pollcles adopted for the Induction and training of Tru$t8e$ New trustees are made aware of their responsibilities as trustees by reference to information provided by the Charity Commission. d. Pay policy for senior staff There are no Senior staff mernbers. e. Organisational Structure and declslon-maklng All decisions are rnade by the council or by delegated trustees Dr members of the society for specific aa$ of expertise. f. Financial risk manag&m&nt The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances ol the company, and are satisfi'ed that systems and procedures sre in place to miligale our exposure lo the major risks. They believe that maintsining free reserves al the levels slated will provide sufficient resources. Trustees. Idemnit1&5 The Society provldes and maintains indemnity insurance for the ¢ommillee members as allowed under the charitable company's Articles of Association. None of the council members had any beneficial interest in the charitable company. All of the council members are members of the charitable company and guarantee to contribute £1 in the event of a wnding up. Funds held as custodlan There are no funds held as custodian. Future developments The Gurdjieff Society continues lo extend ils aclivilie5 in furtherance of its obje¢tiv&s including the development of Bray. 11 is also seeking lo strengthen ils relationship with the like-minded organisalions in North and South America, Europe and, increasingly, many other parts of the world. Page 6
THE GURDJIEFF SOCIETY IA company IiTnited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Statement of Trustees. responslbilities The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report and the financial slalemenls in a¢¢ordan¢e with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AGcounling Praclicel. Company law requires the Trustees lo prepare fi'nancial slalemenls foi each financial . Under company law, the Trustees musl not approve the financial slalemenls unless they are satisfied that they give a true and fair view of the slate of affairs of the Company and of its incoming resources and applicaliDn of resources, including ils income and expenditure, for that period. In preparing these financial slatemenls, the Trustees are rgquired lo.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting eslimales that are reasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial slatemenls., prepare the financial statements on the going concem basis unless il is inappropriate to presume that the Company will continue in busines5. The Trustees are responsible for keeping adequate accounting records that ale sufficient lo show and explain the Company's transactions and disclose with reasonable accuracy al any lime the financial position of the Company and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and d&leclion of fraud and other irregularities. Dlsclosure of Infomiation to auditors Each of the persons who are TTuslees al the time when this Trustees. report is approved has confirmed that.. so far as that Trustee is aware, there is no relevant audit informallon of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and lo establish that the charty's auditors are aware of that inforrnalion. This report was approved by the Trustees, on 15/11/1¥ and signed on their behalf by.. AWH Glbbs (Trusleel Page 7
THE GURDJIEFF SOCIETY IA company limlted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE GURDJIEFF SOCIETY Oplnlon We have audited the financial slalements of Thè Gurdjieff Society Ilhe 'charitable company'l for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial rèporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reportlng Standard applicable in the UK and Republic Df Ireland, (United Kingdom Gen¢rally Accepted Accounting Practice). In our opinion the financial slalemenls.. give a true and fair view of the stale of the charitable company's affairs as al 31 March 2024 and of ils incoming resources and application of resources, including ils income and expendiluie for the year then ended., have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared In accordance with the requirements Df the Companies Act 2006. Basis for oplnion We conducted our audit in accordance with Inlernab'onal Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audiltsrs, responsibilities for the audit of the financial slalemenls section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial slalements in the United Kingdom, inclLJding the Financial Reporting Council's Ethical Standard, and we have fulfilled our other elhi¢al responsibilities in accordance wth these requirements. We believe that the audit evidence w& have obtained is suffi¢i&nl and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have Concluded that the Trijslees, use of the going concern basis of accounting In the preparation of the financial slalements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may ¢ast significant doubl on the charitable company's ability to continue as a going concern for a period of al least twelve months from when the financial slalemenls are aulhorised for issue. Our responsibilities and the responsibilities of the Ttuslees with respect lo going concern are described in the relevant sections of this report. Page 8
THE GURDJIEFF SOCIETY IA company Ilmlted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE GURDJIEFF SOCIETY ICONTINUEDI Other Informatlon The other infomiation comprises the infomalion included in the Annual report other than the financial slalemenls and our Auditors, report Ihereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial stalernenls does not cover the other information and, except lo the extent Dtherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, Consider whether the other information Is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwis& appears lo b& materially misstated. If we identify such material inconsistencies or apparent material misslalem&nts, we are required to determine whether this gives rise lo a material rnis5talemenl in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misslatemenl of this other information, we are required to report that fa¢l. We have nothing to report in this regard. Opinion on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the inforrnation given in the Trustees. report for the financial year for which the financial slalements are prepared is consistent with the financial stalernenls. the Trustees, report has been prepared in accordance with applicable legal ruIreMents. Matters on which we are required to report by exceptlon In the light of our knowledge and understanding of the charitable company and ils environment obtained in the course of the audit, we have not identified material rnisslatemenls in the Trustees. report. We have nothing lo report in respect of the following mallers in relation to whi¢h Companies Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept, Dr retums adeqLJate for our audit have not been received from branches not visited by us., or the financial slalemenls are not in agreement with the accounting records and returns., or Gertain disclosures of Trustees, remuneration specified by law are not made., or we have not received all the infomalion and explanations we require for our audit., or the Trustees were not enlill¢d lo prepare the financial slalemenls in accordance with the small companies regime and lake advantage of the small Companies, exemptions in preparing the Trustees, rèport and from the requirement lo preparo a Strategic report. Page 9
THE GURDJIEFF SOCIETY A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE GURDJIEFF SOCIETY ICONTINUEDI Responsibilities of trusteès As explained more fully in the Truste&s' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary lo enable the preparation of financial statements that are free from material misslatemenl, whether due lo fraud or error. In preparing the financial stslemenls, the Trustees are responsible for assessing the charitable companls ability to contlnue as a going concem, disclosing, as applicable, matters related lo going concern and using the going concem basis of accounting unle55 the Trustees either intend to liquidate the charitable company or lo cease operations, Dr have no realistic alternative bul lo do so. Audltors, responsibillties for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misstalemenl, whether due lo fraud or error, and lo issue an Auditors. report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI wll always delecl a material misslalemenl when il exists. Misstatements can arise from fraud or error and are considered rnalerial if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slalernents. Irregularities, including fraud, are instances of non-compliance wlh laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstalemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. In order lo identify and assess the risks of material misslalemenls, including fraud and non-compliance wth laws and regulations that could b& expected to have a material impact on the financial statements, we have considered.. the results of our enqulries of management and those charged with governance of their assessment of the risks of fraud and irregularities,. the nature of the company, including ils management structure and control systems., completeness of income., compliance with the Charities Act 2011 requirements and disclosures., and We also considered law5 and regulations relating lo employment and the preparation and presentation of the financial slalemenls such as the Companies Act 2006 and the SORP. Based on this understanding we identified the following matters as being of significance lo the enlily. laws and regulations considered to have 8 direct effect on the financial statements including UK financial reporting standards, Company Law and Charities Act 2011., the liming of the recognition of rental and other income., compliance with legislation relating lo health and safety and fire risk assessments., management bias in selecting accounting policies and determining eslimales., inappropriate journal entries., the requirement lo impair freehold properties and the amount of any such impairmenls., and impairments or uplifts to the valuation of the Investment property due lo changes in market valu&. Page 10
THE GURDJIEFF SOCIETY IA company limited by guarant&&l INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE GURDJIEFF SOCIETY ICONTINUEDI We ¢ommuni¢ated the oulcom&s of these discussions and enquiries, as well as consideration as to where and how fraud may o¢cur in the enlily, to all engagement team Tnembers. Audit procedures undertaken in response lo the potential risks relating to irregularities Iwhich include fraud and non-compliance with laws and regulalionsl comprised.. enquiries of managing Iruslees and those charged with governance as lo whether the enlily ¢omplies with such laws and regulations and discussion with the same regarding any known or suspected instsnces of non-compliance., reviewing the impairment review of the freehold property Gonsidering rental welds and market values lo confirm the valuation Df the investment property,. proof in lolal of rental income with reference lo the lease agreements.. analytical review of other income and expenditure., assessment of matters reported to management and the Tesult of the subsequent invesligalion., and obtaining an understanding of the relevant controls and lesling their operation during the period. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councll's website al.. www.trc.or .uklaudilorsres onsibilities. This description forms part of our Auditors. report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2008. Our audit work has b&en undertaken so that we mlghl slate lo the charitable company's members those mallers we are required lo slate lo th&m in an Auditors. report and for no other purpose. To the fullest exlenl permilled by law, we do not accept or assume responsibility lo anyone other than the charitable company and its members, as a body. for our audit Work, for this report, or for the opinions we have formed. David Pumfroy FCA (Senior statutory audltorl for and on behalf Df Sumer Audlt¢o Llmlted Statutory Auditors 14th Floor 33 Cavendish Square London W1GOPW Date.. Ir ZolLI P8ge11
THE GURDJIEFF SOCIETY IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments 238,418 91,724 236,418 91,724 157,010 77,071 Total Income 328,142 328,142 234,081 Expenditure on: Raising funds Charitable activities 13,375 196,149 13,375 196,149 12,722 175,696 Total expendlture 209,524 209,524 188,418 Net movement In funds before other recognised galns 118,618 118,618 45.663 other recognised gains.. Gains on revaluation of fixed assets 200,000 Net movement In funds 118,618 118,618 245,663 Reconclllatlon of funds.. Total funds brought forward Nel movement in funds 9,266,835 118,618 9,266,835 118,618 9,021,172 245,663 Total funds carried fomrd 9,385,453 9,385,453 9,266,835 The Slaternent of financial a¢livffties1ncludes all gains and losses recognised in the year. The notes on pages 15 to 28 form part of these financial slalements. Page 12
THE GURDJIEFF SOCIETY IA company Ilmlted by guarantee) REGISTERED NUMBER: 0055S631 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Flxed assets Tangible assets Heritagè assets Investment property 5,192,667 16,200 3,600,000 5,192,826 16,200 3,600,000 12 8,808,867 8,809,026 Current assets Debtors Inv6slmenls Cash at bank and in hand 13 14 34,178 391,800 164,935 24,850 318,197 125,867 590,913 468.914 creditors.. amounts falling due within one year 114.3271 111,1051 Net currgnt assgts 578,586 457,809 Total assets less Current Ilabllitles 9,385,453 9,266,835 Total net assets 9,385,453 9,266,835 Charlty funds Unrestricted funds Designated funds General funds 16 8,808,867 576,586 8,808,867 457,968 16 Total unrestricted funds 9.385,453 9,266.835 Total funds 9,385,453 9,288,835 Page13
THE GURDJIEFF SOCIETY IA company limited by guarantee) REGISTERED NUMBER: 00555631 BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2024 The Trustees acknowledge their responsibilities for complying with the raquiremenls of the Act wlh respect lo accounting records and preparation of financial stalemenls. The financial slalemenls have been prepared in accordance wth the provisions applicable to enlilies subject lo the small companies regime. The financial statements were approved and aulhorised for issue by the Trustees on signed on their behalf by.. 78111114 and AWH Gibbs (Trusteel The notes on pages 15 to 28 form part of these financial statements. Page 14
THE GURDJIEFF SOCIETY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General information The Gurdjieff Society is a Company limited by gLJaranlee. and it is incorporated in England and Wales. The address of the registered office is 14th Floor, 33 Cavendish Square, London. W1G OPW. Accounting pollcles 2.1 Basls of preparatlon of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalemenl of Recommended Practice appli¢abltr lo Gharilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffe¢tive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Gurdjieff Society meets the definition of a public benefit entity under FRS 102, Assets and liabilities are initially recognised al historical cost or transaction valLJe unless olhenNise staled in the relevant accounting policy. 2.2 Company status The members of the company are the Trustees named on page l. In the event of the company being wound up, the liability in respect of the guarantee is Iirllited lo £1 per member of the company. 2.3 Income All income is recognised once the Company has entillemenl to the income, it is probable that the income wll be received and the amount of income receivable can be measured Teliably. For lega¢ies, enlillemenl is taken as the earlier of the date on which either.. the company is aware that probate has been granted, the eslale has been finalised and nDlificalion has been made by the execuloilsl lo the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a dislribulion. Where legacies have been notified lo the company, or the Company is aware of the granting of probate, and the criteria for income recognitlon have not been mel, then the leg2Cy IS Irealed as a conlingenl asset and disclosed if matèrial. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed lo the projects. Grfts donated for resale are included as income when they are sold. Donated facilities are included al the value lo the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial slalements for services donated by volunteers. Income tsx recoverable in relation lo investment income is recognised al the time the investment income is receivable. Page15
THE GURDJIEFF SOCIETY IA company limited by guarant&o1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontlnuedl 2.4 Expendlture Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic beneflt lo a third party, it is probable that a transfer of e¢onomi¢ benefits will be required in settlement and the amount of the obligation can be measured reliably. Exptrndilure is classified by aclivily. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each aclivily. Direct costs alliibulable lo a single activity are allocated directly to that activity. Shared Costs which contribute to more than one activity and support costs which are not allribulable lo a single aolivily are apportioned between those activities on a basis ¢onsislenl with the use of resources. Central staff costs are allocated on the basis of time spent, and depreclation charges allocated on the porbon of the asset's use. Govemance costs are those incurred in connection with adminislralion of the company and cornpliance with conslilulional and slalulory requirements. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance ¢osls are costs incurred on the ¢ompanls operations, including support costs and costs relating lo the governanc& of the company apportioned to charitable aclivilies. Expenditure on raising funds includes all expenditure incurred by the Company lo raise funds for ils ch8ritable purposes and includes costs of all fundraising aclivilies events and non-charilable trading. Expenditure on charitable activities is incurred on directly undertaking the a¢livilies which further the Companls objectives, as well as any asso¢ialed support Costs. 2.5 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Cotllpany., this is normally upon notification of the interest paid or payable by the inslilulion with whom the funds are deposited. 2.6 Investments Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured al fair value al the Balance sheet date. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading Gainslllossesl on inv&stmenls' in the Slalemenl of financial activities incorporating income and expenditure account. Investment properties are included on the balance sheet al their open market value. Although Ihls accounting policy is in accordance with the applicable a¢¢ounling standard, Charities SORP FRS102 il is a departure from the general requirement of the Companies Act 2006 for all tangible assets lo be depreciated. In the opinion of the council members, compliance with the standard is necessary for the financial statements lo give a true and fair view. Depreciation or amortisalion is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified. Page 16
THE GURDJIEFF SOCIETY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng poll¢les l¢ontlnuedl 2.7 Tanglble flxed assets and depreclatlon All assets costing Tnore than £1.000 are capilalised A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their reGoverable atnounls are recognised as impairments. Impairment losses are recognised in the Slalemenl of financial activities Incorporating income and expenditure aOunt. The Society does not provide for depreciation on freehold buildings. It is considered however, that non~compliance with the standard does not have a material effect on the financial slalemenls since il is the So¢iely's poli¢y lo maintain freehold buildings lo a 51andaid which will prolong their useful lives indefi'nitely and certainly for grealer than 50 years and lo ensure that their value wll not diminish over lime. Maintenance costs are ¢h8rges to the income and expenditure account in the period incurred. In the opinion of the Council, therefore. any charge for depreciation would be immaterial. Tangible fixed assets are carried al cost, net of depreciation and any provision for impairment, Depreciation is not charged on freehold land. Depreciation is provided al rates calculated lo write off the cost of fixed assets, less their estimated residual value, over Ihgir expe¢led useful lives on the following bases., Fixlures and fittings 150/0 slraighl line 2.8 Heritage assets Where heritage assets have been purchased, they are initially re¢ognised al cost. After recognition. under the cost model, heritage assets are measured al cost less any accumulated impairment losses. 2.9 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valLJed al the amount prepaid nel of any Ir8d8 discounts due. 2.10 Cash at bank and In hand Cash at bank and in hand includes cash and short-lemi highly liquid investments with a short maturity of three months or less from the dale of acquisition OT opening of the deposit or similar account. Page 17
THE GURDJIEFF SOCIETY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinuedl 2.11 Liabilities and provisions Liabilities are recognised when there is an Dbligalion al the Balance sheet dale as a result of a past event, il is probable that a transfer of e¢onomi¢ benefit will be required in settlement, and the amount of the settlement can be eslimaled reliably. Liabilikn'es are recognised at the amount that the Company anticipates il will pay lo settle the debt or the arnounl il has received as advanced payments for the goods or services il must provide. Provisions are measured al the best estimate of the amtsunls required lo settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rate that reflects the risks specific lo the liability. The unwinding of the discount Is recognised in the Statement of financial activities as a finance cost. 2.12 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basi¢ financial instruments are initially recognised al transaction value and subsequently measured al their settlement value with the exGeplion of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.13 Pen5ion5 The Cornpany operates a defined contribution pension scheme and the pgnsion charge represents the amounts payable by the Company lo the fund in respect of the year, 2.14 Fund accountlng General funds are unreslricled funds which are available for use at the discretion of the Trustees in fvrtherance of the general objectives ol the Company and which have not been designated for other purposes. Designated funds comprise unreslricled funds that have been sel aside by the Trustees for particular purposes. The 8im and use of each designated fund is sel out in the notes lo the financial slalemenls. Page 18
THE GURDJIEFF SOCIETY IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestricted funds 2024 Total fund5 2024 Total funds 2023 Donations 225,418 11,000 225,418 11.000 157,010 Legacies 236,418 236,418 157.010 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment income - rental incorne 76,588 15,138 76,586 15,138 71,029 6,042 Investment in¢ome- interest receivable 91,724 91,724 77,071 Ralslng funds Unrestricted funds 2024 Total fund5 2024 Total funds 2023 Propety management fees 13,375 13,375 12,722 Page 19
THE GURDJIEFF SOCIETY IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of charitable expenditure Activitles undertaken dlrectly 2024 Total funds 2024 Total funds 2023 Study & Inlemalional costs Property expenses Charity management Governan costs 47,523 128,536 6,548 13,542 47,523 128,536 6.548 13,542 49,069 107,416 3,451 15,760 198,149 196,149 175,696 Page 20
THE GURDJIEFF SOCIETY IA Company limited by guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of charltable expèndlture lcontinuedl Analysls of dlrect costs study & Intornatlonal costs 2024 Property Charity Governanco expenses management Costs 2024 2024 2024 Total funds 2024 Total funds 2023 Staff costs Depreciation Travel 38,042 159 1,638 39,680 159 44,353 542 562 1,904 1,904 Events and expenditure Light & heal Rates Repairs and maintenance Insurance 3,876 3,876 34,858 45,573 5,126 19,017 42,654 34,858 45,573 12,772 19,068 12,772 19,068 2,554 7,340 18,882 385 Bank charges Household expenses General admin fees Printing, postage & slalionery Membership fees 2,554 16,265 16,265 21,523 288 9,350 9,638 9.303 6,260 6,260 3,542 2,971 5,038 3,542 Total 2024 47,523 128,536 6,548 13,542 196,149 175,696 Total 2023 49,089 107,416 3,451 15,760 175,898 Auditors. remunoratlon The Audilorfs remuneration amounts lo an Audit fee of £6,548 12023 ~ £6,840), and fees for other services of £3,34512023- £8151 Page 21
THE GURDJIEFF SOCIETY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 staff costs 2024 2023 Wages and salaries Contribution lo defined contribution pension schemes 38,042 1,638 37,801 6,552 39,680 44,353 The average number of persons employed by the Company during the year was as follows.. 2024 No. 2023 No. Property Supervisor Cleaner No employee received remuneration amounllng to more than £80,000 in either year. Trustees. remuneration and expenses During the year, no Trustees re¢eived any remuneration or other benefits12023 - £NILI. During the year ended 31 March 2024, Trustees received the reimbursement of expenses amounting lo £12,26312023 - £5621, of whlch £8,484 was a prepayment relating to a conference of the IAGF held in Peru in May 2024. Page 22
THE GURDJIEFF SOCIETY IA Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Tangible fixed assets Freehold Fixtures and property fittings Total Cost or valuatlon Al 1 April 2023 5,192,667 186,842 5.379,509 Al 31 March 2024 5,192,667 186,842 5,379,509 Depreclation Al 1 April 2023 Charge for the year 186,883 159 186,683 159 At 31 March 2024 186,842 186,842 Net book value Al 31 March 2024 5,192,667 5,192,667 At 31 March 2023 5,192,667 159 5,192,826 Page 23
THE GURDJIEFF SOCIETY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Investment property Freèhold Investment property Valuation Al 1 April 2023 3,600,000 Al 31 March 2024 3,600,000 12. Heritage assets Assets r&cognlsed at cost Heritage assets 2024 Total 2024 Carying value al 1 April 2023 16.200 16,200 16,200 16,200 The heritag& asset relates lo the former home of G l Gurdjieff, the Sociells founder, and is owned equally between the Society IUKI, and those in P2ris and New York with maintenance cost shared equally. The asset is held as a holding of 1,100 shares in the Sociele Civil Immobiliere, having been acquired by donation in 1979. 13. Debtors 2024 2023 Due within one year Other debtors 3,429 14,838 16,111 3,429 5,888 15,533 Prepayrnenls and accrued income Tax recoverable 34,178 24,850 Page 24
THE GURDJIEFF SOCIETY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Current asset Investments 2024 2023 Term deposll account 391,800 318,197 15. Credltors: Amounts falling due within one year 2024 2023 Trade creditors Other creditors AccrLJals and deferred income 2,251 4,937 7,139 4,937 6,168 14.327 11,105 Page 25
THE GURDJIEFF SOCIETY IA ¢ompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Statement of funds statement of funds - current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Income Expenditure Unrestricted funds Designated funds Freehold Property Fund Heritage Asset Fund Investment Property Fund 5,192,667 16,20D 3,600,000 5,192,667 16,200 3.600,000 8,808,887 8,808.867 General funds Free reserves 457,968 328,142 1209,524} 576,586 Total Unrestrlcted funds 9,266,835 328,142 1209,5241 9,385,453 Statement of funds- prlor year Balance at 31 March 2023 Balanc8 at 1 Aprll 2022 Gainsl (Losses) Income Expenditure Unrestricted funds Designatsd funds Freehold Property Fund Heritage Asset Fund Investment Property Fund 5,192,667 16,200 3.400,000 5,192,687 16,200 3,600,000 200,000 8,608,867 200,000 8,808,867 General funds Free reserves 412,305 234,081 1188,4181 457,968 Total Unrestrlcted funds 9,021,172 234,081 1188,418} 200,000 9,266,835 Page 26
THE GURDJIEFF SOCIETY IA company limited by guarant881 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Statement of funds Icontinuedl Designated funds Funds have been designated by the Trustees as follows.. Freehold Property Fund - This represents the carrying value of the charity's freehold propety. Heritage Assets Fund - This represents the carrying value of tho Charity's herrf(age assets. Investment Property Fund - This represents the carying value of the charitys investment properties. 17. Analysis of net assets b6tsveen funds Analysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Investment property Heritage assets Current assets Creditors due wthin one year 5,192,667 3,600,000 16,200 590,913 114,3271 5,192,667 3,600,000 16,200 590,913 114,3271 Total 9,385,453 9,385,453 Analys15 of net assets between funds - prlor perlod Unrestrlcted fund5 2023 Total funds 2023 Tangible fixed assets Inv&slmenl property Heritage assets Current assets CTedilors due within one year 5,192,826 3,600,000 16,200 468,914 111,1051 5,192,826 3,800,000 16,200 468,914 111,1051 Total 9,266,835 9.266.835 Page 27
THE GURDJIEFF SOCIETY IA company limlted by guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Penslon Commitments The charity operates a defined contributions pension scheme. The as5els of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the charity lo the fund and amounted to £1,63812023'. £6.5521. Page 28