Charlty r•ghtr•tlon numb•r 237267 IEngl4nd and W•l••) SOCIETY OF FRIENDS- CHARNEY MANOR ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 SOCIETY OF FRIENDS- CHARNEY MANOR LEGAL AND ADMINISTRATIVE INFORMATION Tru¥t DetrA)rah A￿owSmIlh Janet Hadand Peter Wilkinson Susan Hall Sarah Gillett K Y Harris (Appointe(19 July 20241 (Appointed 8 Ociober 20241 Ch•rtty numbor (Engknnd and W•kn} 237267 Ind•wnd•nt ¢xamln•r Grawta Audit Oxford LLP First Floor, Park Central 4N1 Park End Street Oxfoid OX1 1JD nkern Bardays Bank UK PLC SOCIETY OF FRIENDS- CHARNEY MANOR CONTENTS Pag• TNstees' report Ir￿ependent examine¢s report Slatemenl of finanual actiwii&s Balance sheet Notes lo the finanrial staloments 9-17 SOCIETY OF FRIENDS- CHARNEY MANOR TRUSTEES. REPORT FOR THE YEAR ENDEO 31 DECEMBER 2024 The Trustees presefil their annual report and finanoal statements for the year ended 31 Decembef 2024. Chamey Manor w88 placed al the di8posal of Friends Trusts Limited lor use by Ihe Religious Soaety of Friends by Henry & Lucy Gillett in a dedaration of Trust dated 21 January 1949. Subsequenlly 8 stherne fow Chamey Manor, induding the appointm8nt of twslees, was sealed by Ihe Charity Commissioners on 12 July 1985 under charity reference 237267. OwneTship was transferred lo London Yearly Meetsng, the governing body ol the Religious Sou'èty ol Friends. On 4 May 1999 Ihe Charity Commi$$ioners amended the governing document for Charney Manor involved the appointmant of new Iruslees. Ownership has been transferred trom Brrtain Yearty Meeting, SUC￿550rS to London Yearly Meeting, lo the new tWStees as the goveming body for Cham8y Manor. Chamey Manor ha5 a￿ordingty now been induded as an asset on the balance sheèt. The finanoal stslements have been prepared in acc4Jrdance with the accountsng p￿l¢le$ sel out in note 1 to the finanual Statements and eompty vrith the Charivs governing d¢)cumènt, the Charities Acl 2011 and"Accounting and Reporting by Charrties.. Stslemenl of Recomrnended PiactKe appli¢abSe to charities preparing their acLounls in acwrdan(% with the Finanejal ReportJ"ng Standard 8ppli¢abb in thè UK and Republic of Ir8land IFRS 102)" leffè¢tive 1 January 20191. Obl•¢tlvè¥ and 4ciivltl•$ The land an¢J buildings afe to be used fow 5uth religious Hnd othaf charitable pu￿OseS of the Religious Sw"ety of Frienijs as the Managing Tnjslees think fft and in particular as a venue for confererHx8. leclures and other edvcational purposes. Achlevements •nd p•rfonNn¢¢ SW¢8nt adivities and achi8vemonls against obi8clry&s Thè primary activty of Charney Manor is as a re&denlial Conference and Retreat Centre. Programmes are organised to explore these and other Televanl a￿aS.. . Approaches to prayer arHI the Bible Person￿ ¥elationships as a path to spiiilual growth Interfaith dialogue • Concem for the worfd .Aspecls of the arts • Aspect5 of the x?ences During 2024 other thurch and faitti groups used the Manor on several oc£asion5 and there were also bookn.ngs for arts and Spiriiual development evenls arHI wrTbn9 retreats. Olher bookngs We￿ related to edUcat￿n arHI other charities. and the NHS used the Manor for management, and slaff training. There were 8 number of bookings for personal development work. Tru¥tse mo￿1￿0*. The Twstees and Advisors met as a body on nin& O￿a$lonS together with the Manager Gill Peaston. Subgroups of Trustees also met in person or on Zoom e.g. lo process the transitM)n lo CIO stslus. Publk B•n•fft The Trustees are mindftd of their duty lo ensure Ihat the charitys activities exi51 for the public benefft. Thgy ha cg)nsid&red Charity Commission guIdar￿e 8nd are sats"sfied that the perfornance and achievements of the ¢harity during the ye8f. as oullined below, are cxJn5iStenl wrth this duty. Most ol the retreats and conlerences organised by other groups (apart from those restricted to particular congregatK)ns) are op¢n lo all and are advert￿￿ as such. SOCIETY OF FRIENDS- CHARNEY MANOR TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 R￿trICtIon• to th• bulldlng As a Gradè 1 listed buildlng there are strid regulations which do not 8llow atterations lo the fabric of the Manor building. We a￿ not. for example, permitted lo install a lfft lo facilrtale arKe8$ by disabled persons lo me•tings in the 13th century Solar on the 131 tloor in the mar￿[. The buildings are.. The Manor Houso. iThJuding the Solar and Utmlercroft dating from the 13th rantury. Iho Manor 8am converted into a main conlerence fac¢lty, th& Vokins building which contains Tesideniial accommodation and the Gilletts Cottage for additional accommodation lor rèsidential fatraals or hired by famili&s or self-catering groups. On 2 May 2000 the buildings were professionally valued. on an existing uso basis. The balance shè8t r8cords thè value ol building developments and arxumulated depre¢iolion. In 1987 the s￿ety recaived a bequest from the estale of Wnlfr¢d Potter for Ihe charitable purposes of Chamey Manor. The capital is held a8 8 designated lund wfth lh• in¢omg applied as revenue for general purpos48. Insurance value5. on a replacemont basis, with Ansv8r Insuroncg ore.. - Building$ £12,052.004.OJ Contents £S50.000.fy) Own•rnhlp The property of Chamey Manor and its investments ar& held by Friend$ Trusts Limited as the Custodian Trustee. 3t•ff Gill Peaslon 1$ th8 non•residenl manager in charge ol the operallon of Chamey Manor and reports dirgdly lo the Trustè& body. Sho is as8islei1 by a staff of 15 people induding an Assi5tanl Manager, a Finance Adminlslralor. Office Administrator.. Catering Manager and Housekeew'ng Suptrrwsor. A Re￿￿en1 Warden is also availabltr lo help with g&noral dLrties. Oullook •nd •ub••qu•nt •v•nts 2024 account5 shrm a d8ficrt despite reasonabl8 levels of bookings. Catering, luel. Eledricity and staffing cos18 have been very high. bul the other unexpected expense has been th& high eo$l8 of profèssv)nal advico in our move towards becomlThJ 8 charitable in￿rporated organl8alion and 8 Iradlng company. registered Society ol Friends Charney Manor CIO Iregistralion number 12030S71 on 15 May 2023 and Chamey Manor Limrted (registration number 153103771 was incorporated on 27 November 2023. Neilhei of Ih&se organisations are ytsl active as we have lo ensure Ihal all processes are securefy in place before we make the changes. The CIO is set to begin trading on the 111 January 2025. minor change lo the wording of the Charity's Pemianenl Endowment ¢onneded wlth Ihe thgnp$ lo th organisalion has been agreed wrth the Charity Commission. Fln•ncl•l r•vl•w Chamey Manor reo)Tded In￿Me for the year of £800.688 12023.. £653.4841 and lotal expenditure of £707,e69 12023.. £708.￿11. The net movement in funds was a deficil of £100.30812023'. defiryl of £37,749). Total resems al 31 December 2024 wer& £1,452.078 12023.. £1,552,386). W)ile the Iruslees consid&r that th& charity's re3èm$ rgmain 8daquat& for rts immediate nèèds the defiats over the pa51 three year5 are a c8use for ￿nc•M and Irusl••8 ore taking step$ to en$u¥e th? chanty ￿t￿m$ lo a p0s￿on where income at ￿a3{ malchts exponditurp. R•••rvK Pollcy In acc￿{danCe wrth generalfy accepted be51 practio li 1$ th& poll¢y of tho Trusteei lo malntaln • balan¢6 on fre• cash and lisl•d invgstment ¥e5eNes equivalent lo Ihree lo SIX monlhs unrestrKted expendilura {i.e. a rango of £180.000 to £360,IXJOI to alltsw the charrty lo accommodate any foro30è8bl8 short-lenn Iluctuatlons in In￿M0. SOCIETY OF FRIENDS- CHARNEY MANOR TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structur•. gov•rnan¢• •nd m•n*9•m•nt The Trustees who seryed during the y&8r and up lo the date of sign8tsJre of the financial slat8monts were: Deborah Arrowsmrth Janel Harfand Slew8rt Jefftey Katharine Nicholas Alan Peam)ain Peter WThlkinson Andrew Tacon Susan Hall Sarnh Gillett KYHams (Appointed 31 March 2024 and feslJn•(13 Soptèmb•r 20241 (Resigned 31 March 20241 (Rosi9￿d 11 Mareh 20251 {Appointed 18 April 2024 and deceased 13 March 20251 (Appointed 9 Juty 20241 (Appomted 8 Odober 20241 R•crnilrn&nt and wc¥"rtm&nt 011n￿te&S Tho Trustoes. roport was approved by th• Board ol Twste•$. Oeborah Affcw43mtth Tru•t•• SOCIETY OF FRIENDS- CHARNEY MANOR STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees are rèsponsible frji preparing the Trustees, Report and the finanaal statemen15 in accordance with applicable law and un￿ed Kingdom Ar£ountin9 Standards (Unrted ￿"n9￿Orn G&ngrally Acc&pled Ac￿UntIng Practice). The 18w applicab￿ lo charities in England and Wale5 fequir•s the Trustee$ to prepare finanThal Slattrments for each finanual year wh+ch giv& a tnjg and lair view of the state of affairs of the Charity and of the incoming resovrc&$ and 8pplicatKJn of Trsourcos of the Ch4nty IDr that year. In preparing these finan￿al statem&nts, the TTuslees are required to.. - sèleGI suiiable accountsng poliaas and theft appty Ihern consi5tanity', - observe the melhods and prineJFAè$ in th& Charities SORP.. make judg&m&nts and estimalès Ihal ar& rèasonable and pnjdenl.. State wh•ther apph"CAble a¢¢ounliiig $landards have been followed. subJe¢l lo any mal•rial departuras dl$dosfjd and explained in the finanaal $tst•m•nts," an*Y prapar• the finantyal stsl•monl$ on th• going ¢onc•m basis unhss rt 1$ inappfoprial• lo wesume that the chafity IM c&)nlinutr tn operat￿. The Tru$leos ère responsible for kgeping suffi¢i•nt accounting rec￿d8 that disdose with reasonable arLufaq at any lime the finanrial posib.on of th8 Charty and enable them to ensure that the finanaal stalem6nls comply with the Charities Act 2011. the Ch8¢ty IAco)unts and Reports) Regu￿￿On5 2008 and the provisions of Ihe trust deed. They are also responsibFe for sale9uarding the assets of the Charity and hence lor taking reasonal>lo steps for lh• prevantion and detection of fraud and other irregulanties. SOCIETY OF FRIENDS- CHARNEY MANOR INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOCIETY OF FRIENDS- CHARNEY MANOR I report to the Trustees on my examination of the finanrjal slalemenls of SorAety of Friends - Chamey Manor Ilhe Chantyl lor th& yèar ended 31 December 2024. R￿POnSibl11ti￿ and basis of rnport As the Twstees ofthe Charrty you are responsib￿ for the preparation of the finanual stslemenls in accordance with thè ￿quIreMents of the Charities Act 2011. I Tespect of my examination Df the Charity's finanual stat8m8nts ￿M￿d out under seclion 145 of the Charities Ad 2011. In carying OLrt my examinahon I have followed the Difects'ons given by the Charity Commi55ion under secb.on 14515}Ibl of th& Char5ties Ad 2011. Ind•p•ndent •xamln•rf$ ststsment Since the Gharity's gross income exceèded £250,000, the independent examiner must be a member of a body listed in section 145 01 the Charities Ad 2011. I confimi that l am qualified to undertake the examination because I am a member of ihe ICAEW. which is on¢ ofthe listed bodies. Your attentKsn is drawn to the faci that the Charty has prepaied the fin8ncial slalemenls in ac¢oTdan¢e with the relevanl veNon of the Statement of Recommènded Pracb"¢e applicable lo chafrtles preparing their finan¢yal statèments in ac(x)rdance with the Finanoal Reporting Stsndard appli13ble in the UK and Republic ol I￿land IFRS 102} in prefèrence to the Aco)unting and Reports'ng by Charities". Statement ol Recommended Praetice issued on 1 April 2005 whith 1$ ￿ferred to in the extant regulations but has now been wilhdrawn. l understand that this has been done in order for thè financial statements lo prowde a tnje and fair in accordance with UK Generally Accepted Acg)unb"ng Pra(*"ce. I have completed my examination. I confimi that no matters haw come to my attention in connection with the èxamination gimng me cause to beJ*ve that in any material respect.. accounting recnrds were not kèpt in respecl of Ihe Charity as required by seclion 130 of the Chariiiè$AL# 2011. the finanrjal 51alements do not accL)rd with those records,. or the finanoal statements do not compty with the applicable requirements conceming the fomi and content of finanrjal stslements set out in the Charities lAc￿unIS and Reportsl Regulations 2008 other than any requifemenl th8t the finanaal ststemtrnls give a true and fair v￿, which is not a matter considered as part of an independent examination. I have no concems and have L¥)me across no other matters in connection with the examinalitsn lo which att8nbon sh)ukl be drawn in this report irF order lo gnabk a woper understsnding ol the finan¢lal statements lo be rgached. Gary Pready FCA Gravtta Audlt Oxford LLP First Floor. Park Central 4041 Part( End Street Oxford OX1 1JD Date.. 1nlS12Q25... SOCIETY OF FRIENDS- CHARNEY MANOR STATEMENT OF FINANCIALACTMTIES FOR ThIE YEAR ENDED 31 DECEMBER 2024 Unrutricted Restrlcted Doslgnated fvnds funds funds 2024 2024 2024 Total Unrostrlctsd Dubgnat•d funds funds 2023 2023 Total 21)24 2023 31.561 564.071 34.S51 564.071 35,660 616.299 1,525 35.660 616.299 1,525 Chaiitable athil 597.688 61x1,688 653,484 653.484 704,669 707.669 708,%1 708,961 704.869 707.669 708.*1 708.961 N8t gain￿1￿5$$) ￿ ¥iv8sknents 6.673 6,673 17.728 17.728 N•t Incom&l{•xwdlturn) and mo¥•m•nt In fund• (l(K,981) 6,673 (11Nj,￿>Bl 155,4771 17.728 137.749) Fund balan￿ * 1 January 2024 1.180.798 391,588 1.552.386 1.216,275 373,860 1,590,135 Fund b•l•nu• •t 31 0•c•ffl￿ 2024 1.053.817 398.261 1,4S2.078 1,160.798 391,588 1,552.366 The $tat•menl offfin•n(yal ac*b4fjbgs indth alb 9ains h)s8es re¢ogrd$8d in Ihe year. Al Income and e¥pgnthture derivo from continuing actiWb'&$. SOCIETY OF FRIENDS- CHARNEY MANOR BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Not•* Flx•d •$$•ts Tangible assets Investments 11 12 1,258.677 173,403 1,284,045 166.730 1,432.080 1.450,T75 Current aM•ts Stocks Debtor5 Cash at bank and in hand 13 14 2,8fKJ 15,845 13B,347 2,800 25,206 216.247 156,992 244.253 Crndltorn". amounts falling du• wlthln y•ar {112.953) {105,3821 N•t ¢urr•nt 44,039 138.871 Total aM•ts l•$• ¢urr•nt Ilablliti•* 1,476,119 1.589.646 Cmdltors: amounts hlllng du• aft•r more than on• y•ar 17 124,041) (37,260) 14•t ass•ts 1,452.078 1.552,386 Th¢ funds ofthe Charlty Desgnated funds- general Unrestricted fvnds 398.261 1.053,817 391,588 1.160,798 1.452.078 1,552,386 In preparing these finanaal stslements as Trustee5 we hèreby eonfim).. (al that lor the yoar in question the TfUS1 was enb.lled to the exgmplion oyrferre(I by section 145 of th8 CharitssAct 20118nd {bl we acknow* our resr*MsitMtrtie5 for.. maintaining proper ac¢>)unting record$ and for prepamg accounts have be￿ ￿￿pared in a0)xd￿ the Chartties Act 2011. TnMt•• SOCIETY OF FRIENDS- CHARNEY MANOR STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Note¥ Cash flows from 0￿ratIng a¢tlvltlo• Cash absorbed by operabons 21 (56.833) 198,047) Investing acIl¥l￿•S Purchase of tangible fixed assets Proceeds from disposal ol investmerrts Investment income received 112.445) 127n 125,000 1.525 Net cash lumd inyg•n•rat•d from invuting •ctivlti 110,3891 126,248 Flnancing activities Repaymant of bank loans {10.6781 19,0441 N•t cash us•d in financing •¢Ovitl 110,6781 (9.044) N•t Id•cr•aseiflncr•*￿ in ¢a$h and eash •quival•nts 177,900) 19.157 Cash and cash equivalents at beginning of year 216.247 197,0 CMh •nd ￿#h •qulval•nts at ènd of y••r 138.347 216,247 SOCIETY OF FRIENDS- CHARNEY MANOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Aecountlng polick* Charlty inf0m￿tion Souety ol Friends- Chamey Manor is a registered ¢hanty. 1.1 AGcounting conv•ntlon The finantyal Statements have been prepared in accordance with the Charity5 govtrming documènt, the ChariliÈ$ Act 2011. FRS 102 'The Financial Reporting Standard applicable in the UK and Republie ol I￿land. CFRS 102.1 and the Charities SORP "Accounting and Reporting by Ch8rrties". Stalement ol Recomrnended Practice appl￿ble to chantiès preparing their accounts in accx)rdance wjth th& Finangal Reporting Standard applicable In the UK and Republ￿ ol Ireland IFRS 102}" leffectivtr 1 January 20191. The Chanty is a Public Benefrt Enlty as defined by FRS 102. The finanaal statemenls have departed from thè Chariliès (Accounts and Reports) RegUlat￿S 2008 only lo the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charrties apptying FRS 102 rather than the version of the Statement of Recommended PraC*￿e whi¢h is referred to in thtr RegukgtH>ns but whith ha& since been wrthdfawn. The financial statements are preparod in sleding. which is th8 fUn(A￿al ￿rre￿ of the ChBnty. Monetary amounts in these finanrial slalem&nts ar8 roundéd to the neaf8St £. The financial statements have been prepared under the historical cost convents'on. rnodffi￿ lo indude the revaluation of freehold prop*￿e5 and to indude investment properties and certain finanaal instruments at fair Value. The princApal a¢¢ounting polioes adopted a￿ set out below. 1.2 Golng conc•rn At the time of 8pprowng the financsal stslemenl$, the Trust¢&$ ha￿ a reasonable expeclation that the Charity has adequate resources to continue in operalional &xi$ten¢e the I0￿seeable future. Thus the Trustees ¢ontinue to adopt the go￿9 con￿rn basis of acfxjunb.ng in preparing the finanual statements. 1.3 Charttsbh fvnds UnrestrKaèd fuNls arg available for at tho dtscretion of thfj Trustees in furtherance of their ¢hafitabie obl￿￿'ve5. Restricted funds are subject to 5peryfic o)ndbtity)s by donors or grar71ors a5 to hcw they may be used. The purposes and uses of the r&strid¢d lunds are sel out in the notes lo the financial $latemenls. Endowment funds are subje¢* to spwific QVKlitsons by donorn thal the ¢aprtal musl be maintained by the Charity. 1A I￿orn• Income is rgo)gnised the Chaiity is b8gaty entiued lo it after any perfonnance coThJitb￿$ have b¢en meL the amounts can ￿ mtra8ured rel￿￿, and il ￿ wobable that income will be recei￿. Cath donath)ns are rwi¥ed on r8ceOpL Other donati￿ are re¢ognised once thè Chaity has b￿n nolffièd of the d￿￿ti￿. perfwmm ¢xndilions require d￿erTaI of the amount. Inojffle lax recoverable In relat￿ to r8cw4ed under GiftAhJ or deeds of covanant 15 Tecogni5ed at the time ofthe donation. L8g•J•s are rownl8ed on recelpt or oth8Th￿￿11 th& Charity has beon nolffied of an Impondlng dlslrfbulion. the amount h kn¢y*n, aNI rec•lpt 58 exped￿. W thè amount 18 not knrmn, th8 legacy is Iwle(l as a cOn￿￿a•nI 488•t SOCIETY OF FRIENDS- CHARNEY MANOR NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting polici IContlnu•dl 1.5 Expendliur• Expenditure is recognised once there is a legal or ¢onstnJthve obligatth) to transfer economic benefrt lo 8 thiid party, it is probable that a transfer ol economi¢ benefits v*ill b• wuÈre