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2023-03-31-accounts

Endowment Unrestricted
Note Fund Restricted Funds Fund Total 2023 Total 2022
E
Income
Donations and legacies 26,181 79,154 105,335 63,543
Charitable
activities		 1,563,176 1,563,176 1,278,544
Trading activities 1,155,349 1,155,349 531,867
Grants 43,368
Investments 7,794 196,462 204,256 223,643
Total income 33,975 2,994,141 3,028,115 2,140,965
Expenditure
on
Provision
and maintenance		 ofthe Christian
Centre
Operating costs and maintenance 32,508 1,933,533 1,966,041 1,996,192
Depreciation 199,509 186,836 386,345 319,647
Professionalfees 31,772 31,772 29,566
Trading costs 969,550 969,550 572,378
Total expenditure 199,509 32,508 3,121,692 3,353,709 2,917,782
Net income/(expenditure) before investment
gains (199,509) 1,467 (127,551) (325,593) (776,817)
Gains/(losses)
on		 investments
Unrealised (402,788) (13,342) (416,130) 565,696
Realised 41,812 41,812 74,547
Net movements in funds before taxation (560,485) {11,875) (127,5S1) (699,911) {136,S7S)
Tax rebate/(charge) 41,110 41,110 (41,110)
Net movements in funds ai'ter taxation (560,4&5) (11,875) (86,441) (658,801) (177,685)
Funds brought forward 15,347,202 327,554 (971,015) 14,703,741 14,881,426
Funds carried forward 14,786,717 315,679 (1,057,456) 14,044,940 14,703,741

BAIANCE SHEE TS AS AT 31MA RCH 2023
Group Group Charity Charity
2023 2022 2023 2022
Notes E E E E
Fixed assets
TangiIJle fixed assets 7,511,27] 7,729,307 7,S11,271 7,729,30?
Invest men ts 6,447, I02 7,02.2,720 6,447,502 7,021820
13,958,673 24,752,027 13,958,773 24,752,227
Current assets
Debtors 204,S61 155,432 163,751 245,7S6
Stock l7,476 17,475
Cash at bank 385,548 236,889 324,473 264,702
607,885 392,370 50S,699 320,458
Current liabilities
Creditors under one yea r 8 (521,618) (437,606) (593,S20) (530,369)
Net current assets 86,267 (45286) (88,121) (219,912)
Defined benefit pension
scheme liaIJility (2,000) (2,000)
Net assets 14,044,940 14,703 741 13.870,652 14529216
Funds
Endowment l.4,786,717 25.347,202 14,786,717 25,347,203
Restncted 315,679 327,554 31S,679 327,55n
Unrestricted (l,057,456) (972,025) (1,231,745) (2,245,542)
10 14,044,940 14,703,741 13,870,652 14,529,216
FOR THE YEAR ENDED 31M ARC H 2023
2023 2022
f f
Cash flows from operating activities
Net income/(expenditure) (658,801) ( 177,686 )
Adjustments
for:
Depreciation 386,345 319,647
Loss/(Gain) on investments 374,318 ( 640,242 )
Investment
income		 (204,256 ) ( 223,643 )
Trade and other receivables (49,430 ) ( 71,420 )
Stock (17,476 )
Trade and other payables 82,013 142,870
Net cash used
in operating		 activities (87,288 ) (650,474 )
Cash flows from investing
activities
Purchase ofproperty
plant		 and equipment ( 168,309 ) ( 834,817 )
Proceeds on disposal ofinvestments 200,000 1,050,000
Investment
income		 204,256 223,643
Net cash provided
by investing		 activities 235,947 438,826
Net (decrease)/increase
in		 cash and cash equivalents f 148,659 f (211,648)
Cash and equivalents
brought		 forward 236,889 448,537
Cash and equivalents
carried forward		 f 385,548 f 236,889
Components
ofcash and cash		 equivalents: 2023 2022
Cash at bank and in hand f 385,548 f 236,889

Total Total
2023 2022
Donations and legacies
Gifts and donations 105,335 63,543
Grants received 43,367
105,335 106,910
Income from charitable activites
Overnight
accommodation		 128,310 63,975
Conference income 310,387 186,199
Food and beverages 644,800 378,319
Rental and other income 47,559 28,802
Yurt cafe 432,119 621,249
1,563,176 1,278,544
Income from trading activities
Overnight
accommodation		 1,155,349 531,867
1,155,349 531,867
Investment
income
Dividends 202,203 223,616
Interest receivable 2,053 27
204,256 223,643
Income Total 3,028,116 2,140,965

Depreciation Staffcosts Other costs Total 2023 Total 2022
f f f f f
Charitable activities
Endowment Funds 199,509 199,509 266,275
Restricted Funds 32,508 32,508 23,594
Unrestricted Funds 186,836 1,168,589 796,717 2,152,142 2,055,536
386,345 1,168,589 829,225 2,384,159 2,345,405
Trading costs 576,609 392,942 969,550 572,378
386,345 1,745,198 1,222,167 3,353,709 2,917,7&2
Depreciation Staffcosts Other costs Total 2022
f f f.
Charitable activities
Endowment Funds 266,275 266,275
Restricted Funds 23,594 23,594
Unrestricted Funds 53,372 1,495,236 506,928 2,055,536
319,647 1,495,236 530,523 2,345,405
Trading costs 572,378 572,378
319,647 1,495,236 1,102,900 2,917,782

NOTES TO THE ACCOU NTS FOR THE YEA R ENDED 31MARCH 2023
Total 2023 Tata I 2022
Staff Costs f f
Wages and salaries 1,483,861 1,273,857
Social security costs 137,566 109,034
Pension costs (Defined Benefit Scheme} 10,643 12,506
Pension costs (Defined Contribution Scheme) 113,128 99,838
1,745,198 f1„495,236
Other Costs
Visitor catering 373,455 412,467
Housekeeping 113,197 84,165
Property costs 245,575 232,719
Centre administration 138,939 134,761
Sales commission 163,137 64,688
General costs 71„513 94,930
Grants 700
Governanre 38,438 22,490
Professional fees and consultancy 31I772 37,877
Charitable
activities		 46,140 18,103
Depreciation 386,345 319,647
1,608,512 f1,422,547
Total Costs 3,353,709 f2,917,782
ce costs inc ludes
au		 dit fees off1 9,950for the Foundati on
and E3,150f		 or RHL.
Number Number
2023 2022
The average number of employees was 65 65
The average number of Full Time Equivalent employees was 47 34
Number Number
2023 2022

Group &Charity
Fixtures
8c
Freehold Fittings,
Land Temporary Assets Under Total
fL Buildings Buildings Construction
Cost
At 1April 10,081,456 1,627,290 437,859 12,146,605
Additions 165,773 2,536 168„309
At 31March 10,081,456 1,793,063 440,395 12,314,914
Depreriation
At 1April 3,664,324 752,974 4,417,298
Charge
in the year		 199,509 186,836 386,345
At 31March 3,863,833 939,810 4,803,643
NBV
At 31March 2023 6,217,623 853,253 440,395 7,511,271
At 31March 2022 6,417,132 874,316 437,859 7,729,307

Common
Investment Investments in
Funds
f		 subsidiary
f		 Charity totalf Total 2022
Valuation
at 1		 April 2022 7,021,720 100 7,021,820 7,431,578
Disposals (200,000) (200,000) (1,050,000 )
Realised gains 41,812 41,812 74,547
Unrealised
gains		 (416,130) (416,130) 565,696
Valuation at31March 2023 6,447,402 6,447,502 7,021,820
The market value ofthe Common Investment Funds held are: 2023 2022
f
Restricted
Endowment		 Fund
COIFCharities Global Equity Fund Income Units 581,449 602,314
COIF Charities Property Fund Income Units 300,400 357,045
COIF Charities Ethical Investment Income Units 5,310,976 5,794,442
COIF Charities Deposit Fund 331 331
6,193,156 6,754,132
Ardingly
Mission
Fund
COIF Charities Ethical investment Income Units 254,246 267,588
Total 6,447,402 7,021,720

Total
Fund balances at 31March 2023 Endowment Master' s Unrestricted
are represented by: fund Ardingly fund Charity Account umehouse Aid Funds Total 2023
Tangible fixed assets 6,658,018 853,252 7,511,271
Investments 6,193,156 254,246 6,447,402
Net current assets/(liabilities) 1,935,543 60,385 1,048 (1,910,709) 86,267
Defined benefit pension scheme
liability
14,786,717 314,631 1,048 (1,057,456) 14,044,940
Total
Fund balances at31March 2022 Endowment Master' s Unrestricted
are represented by fund Ardingly fund Charity Account umehouse Aid Funds Total 2022
Tangible fixed assets 6,854,991 874,316 7,729,307
Investments 6,754,132 267,588 7,D21,720
Net current assets/(liabilities) 1,738,079 52,804 6,679 483 (1,843,331) (45,286)
Defined benefit pension scheme
liability 2,000)
15,347,202 320,392 6,679 483 (971,015) 14,703,740

Balance at31 Balance at31 Investment Investment Balance at31
March 2022 Income Expenditure gains/()esses) Tax Charge March 2023
Endowment
fund		 15,347,202 (199,509) (360,976) 14,786,717
Ardingly
fund		 320,391 7,762 (180) (13342) 314,631
Master's
Charity		 Account 6,678 21,023 (27,702) (0)
Limehouse
Aid		 483 5,190 (4,625) 1,048
Unrestricted
general fund		 (971,014) 2,994,141 (3,121,693) 41,110 (1,057,456)
14,703,740 3,028,116 (3,353,709} (374,318) 41,110 14,044,940
Balance at31 unrealised 8a)ance at31
March 2021 Income Expenditure investment
gain		 Tax Charge March 2022
Endowment
fund		 14,994,120 (266,275) 619@57 15,347,202
Ardingly
fund		 294A71 5,035 20+86 320,391
Master's
Charity		 Fund 13,619 12,760 (19,701) 6,678
Limehouse
Aid		 1,244 3,130 (3,890) 483
Unrestricted
general fund		 (422,029) 2,120,038 (2,627,914) (41,110) (971,015)
14,881,425 2,140,963 (2,917,780) 640,242 (41,110) 14,703,740
1
Pension		 Liability
The Foundation participates
in the Church of England
Funded
Pensions		 Scheme for stipendiary clergy in
respect ofThe Master. This is a defined benefit pension scheme administered by the Church of England
Pensions Board and each participating Responsible Body pays contributions
at		 a common contribution
rate applied to pensionable
stipends.
The scheme
is considered		 to be a multi-employer scheme as described in section 28of FRS102. This
means that it is not possible to attribute the Scheme's assets and liabilities to each specific Responsible
Body, and so contributions are accounted for as if the Scheme were a defined contribution
scheme.
The
pensions costs charged in the Statement of Financial Activities
in		 the year are contributions
payable
towards benefits and expenses accrued in that year and amount tof10,643(2022:f12,506).

2023 2022
Movement
in pension		 provision E
Balance sheet liability at 1January 2,000 4,000
Deficit contributions paid ( 2,000 ) ( 2„000)
Balance sheet liability at 31December K0 E2,000

2023 2022
f
Within one year 4,022 2,103
Between two and five years 4,266
Over five years 108
f8,396 E2,103
13 Financial Instruments
2023 2022
Financial assets measured at fair value
Investments 6,447,402 7,021,820
Financial liabilities measured at fair value
Provision for defined benefit pension scheme 2,000

Endowment Restricted Unrestricted
Nate Fund Funds Fund Total 2022 Total 2021
f f f
income
Donations
and legacies		 12,890 50,653 63,543 38,235
Charitable
activities		 1,278,544 1,278,544 595,410
Trading activities 531,867 531,867 668,842
Grants 3,000 40,368 43,368 90,989
Investments 5,037 218,607 223,643 236,260
Total income 20,927 2,120,038 2,140,965 1,629,736
Expenditure
on
Provision
and maintenance		 ofthe
Christian
Centre
Operating costs and maintenance 23,594 1,972,598 1,996,192 1,354,923
Depreciation 266,275 53,372 319,64/ 295,135
Professional
fees		 29,566 29,566 11,027
Trading costs 572,378 572,378 658,842
Total expenditure 266,275 23,594 2,627,914 2,917,782 2,319,928
Net income/(expenditure) before
investment
gains		 (266,275) (2,667) (507,875) (776,817) (690„192)
Gains/(losses)
on investments
Unrealised 544,810 20,886 565,696 1,223,139
Realised 74,547 74,54/ 98,159
Net movements
in funds before taxation		 353,082 18,21$ (507,875) (136,575) 631,106
Tax charge 41,110 41,110
Net movements
in funds after taxatian		 353,0$2 18,218 (548,985) (177,685) 631,106
Funds brought forward 14,994,120 309,335 (422,029) 14,881,426 14,250,321
Funds carried forward 15,347,202 327,554 (971,015) 14,703,741 14,881,427

2623 2622
Share Capital and Reserves
Share Capital 100 100
Reserves 174,286 174,286
Total Capital 174,386 174,386
Profit and Loss account:
2623 2622
Income 1,155,349 531,867
Less: Cost ofSales (385,188) (297,039)
Gross Profit 770,161 234,828
Administration and Overheads (584,364) (275,339)
Gift Aid (226,907)
Taxation 41,110 (41,110)
Net Profit (81,620)

The charity had the following transactions
w		 ith its trading subsidiary Ratcliffe Hospitality
Lim		 ited:
2023 2022
Charges by the Charity to Ratcliffe Hospitality Ltd (RHL)
Allocation ofoverheads
forshared expenses		 576,609 536,081
Gift Aid donation
by RHLtothe charity		 226,907
Debtor due by the charity to RHL 273,811 217,495
There were no other related party transactions in the year.