## The Trustees of The Retreat, Loxwood Registered Charity No 258850 _Chairman Secretary_ N J Jones Ms Bex McKee 01403 822666 9 Hamilton Road Cosham Portsmouth PO6 4QE 02392 431597 ## **THE RETREAT CHARITY TRUST** CHAIRMANS REPORT FOR FINANCIAL YEAR ENDED 5 APRIL 2022 GOVERNING DOCUMENT TRUST DEED 26 APRIL 1966 ## **Provision of residential accommodation for the elderly** The trust provides low cost housing for persons over the age of 60 giving priority to residents of Loxwood, their dependents and those who have ties to the local area. There are 9 units of accommodation which are managed for the trustees on a day to day basis by Greenoak Community Focus. In the last year, the Trustees have taken advice with regard to the location and likely target population for residents. The population of the village is growing but the amenities have considerably declined. The fabric of The Retreat dates from the 1950’s and does not lend itself to energy saving improvements. Faced with these facts the Trustees have resolved to commission a report, one aspect of which will be to consider a change of location for the Retreat building to one that does provide these amenities. This consideration will take account of the obligations to current residents - as all rooms are presently occupied - as well as the Charitable Trust. Without prejudging the outcome of the report, it may be necessary in future to apply to the Commission for consent to sell assets. The contents of this chairman’s report were discussed at a recent meeting of all the Trustees and were unanimously approved. N J Jones (Chair) **REGISTERED CHARITY NUMBER: 258850** ## **Report of the Trustees and** **Financial Statements for the Year Ended 5 April 2022** **for** **THE RETREAT, LOXWOOD** THB LLP 1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB **THE RETREAT, LOXWOOD** **Contents of the Financial Statements for the Year Ended 5 April 2022** ||**Page**| |---|---| |**Report of the Trustees**|1| |**Independent Examiner's Report**|2| |**Statement of Financial Activities**|3| |**Balance Sheet**|4 to 5| |**Notes to the Financial Statements**|6 to 11| |**Detailed Statement of Financial Activities**|12| **THE RETREAT, LOXWOOD** **Report of the Trustees for the Year Ended 5 April 2022** The trustees present their report with the financial statements of the charity for the year ended 5 April 2022. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 258850 ## **Principal address** 7 Rosemary Gardens Godalming Surrey GU7 1UZ ## **Trustees** Mr R Hallt Mr M Slorick Mr N Jones Mr R Winney Ms B Kitchener ## **Independent Examiner** THB LLP 1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB 02/02/2023 Approved by order of the board of trustees on ............................................. and signed on its behalf by: ............................................................................... R Hallt - Trustee Page 1 **Independent Examiner's Report to the Trustees of The Retreat, Loxwood** ## **Independent examiner's report to the trustees of The Retreat, Loxwood** I report to the charity trustees on my examination of the accounts of The Retreat, Loxwood (the Trust) for the year ended 5 April 2022. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. THB LLP 1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB 02/02/2023 Date: ............................................. Page 2 **THE RETREAT, LOXWOOD** ## **Statement of Financial Activities for the Year Ended 5 April 2022** |**Notes**
**INCOME AND ENDOWMENTS FROM**
Other trading activities
2
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
4
Other
**Total**
Net gains on investments
**NET INCOME**
**Transfers between funds**
11
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**fund**
**£**
-
16,082
16,082
51
3,480
3,531
101,521
114,072
(72,450)
41,622
1,279,016
1,320,638|**Endowment**
**fund**
**£**
56,806
-
56,806
45,750
-
45,750
-
11,056
72,450
83,506
236,934
320,440|**5.4.22**
**Total**
**funds**
**£**
56,806
16,082
72,888
45,801
3,480
49,281
101,521
125,128
-
125,128
1,515,950
1,641,078|**5.4.21**
**Total**
**funds**
**£**
60,016
16,167
76,183
22,877
23,154
46,031
425,171
455,323
-
455,323
1,061,337
1,516,660| |---|---|---|---|---| The notes form part of these financial statements Page 3 ## **THE RETREAT, LOXWOOD** ## **Balance Sheet** ## **5 April 2022** |**Notes**
**FIXED ASSETS**
Tangible assets
7
Investments
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
10
**NET ASSETS**|**Unrestricted**
**fund**
**£**
-
1,233,447
1,233,447
3,177
86,634
89,811
89,811
1,323,258
(2,620)
1,320,638|**Endowment**
**fund**
**£**
320,440
-
320,440
-
-
-
-
320,440
-
320,440|**5.4.22**
**Total**
**funds**
**£**
320,440
1,233,447
1,553,887
3,177
86,634
89,811
89,811
1,643,698
(2,620)
1,641,078|**5.4.21**
**Total**
**funds**
**£**
320,440
1,115,870
1,436,310
19,051
61,299
80,350
80,350
1,516,660
-
1,516,660| |---|---|---|---|---| The notes form part of these financial statements continued... Page 4 ## **THE RETREAT, LOXWOOD** |**Balance Sheet- continued**
**5 April 2022**
**FUNDS**
11
Unrestricted funds
Endowment funds
**TOTAL FUNDS**|1,320,638
320,440
1,641,078|1,196,220
320,440
1,516,660| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. Mr R Winnwey - Trustee ............................................. Mr N Jones - Trustee ............................................. Mr M Slorick - Trustee ............................................. Mr R Hallt - Trustee ............................................. Ms B Kitchener - Trustee The notes form part of these financial statements Page 5 **THE RETREAT, LOXWOOD** **Notes to the Financial Statements for the Year Ended 5 April 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. OTHER TRADING ACTIVITIES** |**OTHER TRADING ACTIVITIES**||| |---|---|---| ||**5.4.22**|**5.4.21**| ||**£**|**£**| |Rents receivable|56,806|60,016| Page 6 continued... **THE RETREAT, LOXWOOD** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 5 April 2022** ## **3. INVESTMENT INCOME** |Dividends and stock interest
Deposit account interest
**4.**
**RAISING FUNDS**
**Investment management costs**
Managing agents commission
Property repairs & maintenance|**5.4.22**
**£**
16,056
26
16,082
**5.4.22**
**£**
9,533
24,937
34,470|**5.4.21**
**£**
16,026
141
16,167
**5.4.21**
**£**
9,335
13,542
22,877| |---|---|---| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 5 April 2022 nor for the year ended 5 April 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021. ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
Other
**Total**
Net gains on investments
**NET INCOME**
**Transfers between funds**
**Net movement in funds**|**Unrestricted**
**fund**
**£**
-
16,167
16,167
-
12,189
12,189
425,171
429,149
(56,622)
372,527|**Endowment**
**fund**
**£**
60,016
-
60,016
22,877
10,965
33,842
-
26,174
56,622
82,796|**Total**
**funds**
**£**
60,016
16,167
76,183
22,877
23,154
46,031
425,171
455,323
-
455,323| |---|---|---|---| continued... Page 7 **THE RETREAT, LOXWOOD** ## **Notes to the Financial Statements - continued for the Year Ended 5 April 2022** |**6.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
**Unrestricted**
**Endowment**
**fund**
**fund**
**£**
**£**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
823,693
237,644
**TOTAL FUNDS CARRIED FORWARD**
1,196,220
320,440
**7.**
**TANGIBLE FIXED ASSETS**
**COST**
At 6 April 2021 and 5 April 2022
**NET BOOK VALUE**
At 5 April 2022
At 5 April 2021
**8.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 6 April 2021
Additions
Revaluations
At 5 April 2022
**NET BOOK VALUE**
At 5 April 2022
At 5 April 2021
There were no investment assets outside the UK.
Cost or valuation at 5 April 2022 is represented by:
Valuation in 2022
Cost|**Total**
**funds**
**£**
1,061,337
1,516,660
**Freehold**
**property**
**£**
320,440
320,440
320,440
**Listed**
**investments**
**£**
1,115,870
16,056
101,521
1,233,447
1,233,447
1,115,870
**Listed**
**investments**
**£**
101,521
1,131,926
1,233,447| |---|---| continued... Page 8 **THE RETREAT, LOXWOOD** **Notes to the Financial Statements - continued for the Year Ended 5 April 2022** |**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments
**10.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Other creditors
**11.**
**MOVEMENT IN FUNDS**
**Net**
**movement**
**At 6.4.21**
**in funds**
**£**
**£**
**Unrestricted funds**
General fund
1,279,016
114,072
**Endowment funds**
ENDOWMENT
236,934
11,056
**TOTAL FUNDS**
1,515,950
125,128
Net movement in funds, included in the above are as follows:
**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
**Unrestricted funds**
General fund
16,082
(3,531)
**Endowment funds**
ENDOWMENT
56,806
(45,750)
**TOTAL FUNDS**
72,888
(49,281)|**5.4.22**
**£**
798
1,500
879
3,177
**5.4.22**
**£**
2,620
**Transfers**
**between**
**funds**
**£**
(72,450)
72,450
-
**Gains and**
**losses**
**£**
101,521
-
101,521|**5.4.21**
**£**
-
19,051
-
19,051
**5.4.21**
**£**
-
**At**
**5.4.22**
**£**
1,320,638
320,440
1,641,078
**Movement**
**in funds**
**£**
114,072
11,056
125,128| |---|---|---| continued... Page 9 **THE RETREAT, LOXWOOD** **Notes to the Financial Statements - continued for the Year Ended 5 April 2022** ## **11. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Net**
**movement**
**At 6.4.20**
**in funds**
**£**
**£**
**Unrestricted funds**
General fund
823,693
429,149
**Endowment funds**
ENDOWMENT
237,644
26,174
**TOTAL FUNDS**
1,061,337
455,323
Comparative net movement in funds, included in the above are as follows:
**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
**Unrestricted funds**
General fund
16,167
(12,189)
**Endowment funds**
ENDOWMENT
60,016
(33,842)
**TOTAL FUNDS**
76,183
(46,031)
A current year 12 months and prior year 12 months combined position is as follows:
**Net**
**movement**
**At 6.4.20**
**in funds**
**£**
**£**
**Unrestricted funds**
General fund
823,693
543,221
**Endowment funds**
ENDOWMENT
237,644
37,230
**TOTAL FUNDS**
1,061,337
580,451|**Transfers**
**between**
**funds**
**£**
(56,622)
56,622
-
**Gains and**
**losses**
**£**
425,171
-
425,171
**Transfers**
**between**
**funds**
**£**
(129,072)
129,072
-|**At**
**5.4.21**
**£**
1,196,220
320,440
1,516,660
**Movement**
**in funds**
**£**
429,149
26,174
455,323
**At**
**5.4.22**
**£**
1,237,842
403,946
1,641,788| |---|---|---| |||| continued... Page 10 **THE RETREAT, LOXWOOD** **Notes to the Financial Statements - continued** ## **for the Year Ended 5 April 2022** ## **11. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Endowment funds**
ENDOWMENT
**TOTAL FUNDS**|**Incoming**
**Resources**
**Gains and**
**Movement**
**resources**
**expended**
**losses**
**in funds**
**£**
**£**
**£**
**£**
32,249
(15,720)
526,692
543,221
116,822
(79,592)
-
37,230
149,071
(95,312)
526,692
580,451| |---|---| ## **12. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 5 April 2022. Page 11 **THE RETREAT, LOXWOOD** |**Detailed Statement of Financial Activities**||| |---|---|---| |**for the Year Ended 5 April 2022**||| ||**5.4.22**|**5.4.21**| ||**£**|**£**| |**INCOME AND ENDOWMENTS**||| |**Other trading activities**||| |Rents receivable|56,806|60,016| |**Investment income**||| |Dividends and stock interest|16,056|16,026| |Deposit account interest|26|141| ||16,082|16,167| |**Total incoming resources**|72,888|76,183| |**EXPENDITURE**||| |**Investment management costs**||| |Managing agents commission|9,533|9,335| |Property repairs & maintenance|24,937|13,542| ||34,470|22,877| |**Support costs**||| |**Information technology**||| |Subscription|1,290|-| |**Other**||| |Insurance|1,070|1,950| |Light and heat|8,676|6,898| |C D C Careline|-|1,216| |Sundries|295|901| ||10,041|10,965| |**Other 2**||| |Administration expenses|1,980|12,189| |**Governance costs**||| |Accountancy and legal fees|1,500|-| |Total resources expended|49,281|46,031| |**Net income**|23,607|30,152| This page does not form part of the statutory financial statements Page 12 **REGISTERED CHARITY NUMBER: 258850** ## **Report of the Trustees and** **Financial Statements for the Year Ended 5 April 2022** **for** **THE RETREAT, LOXWOOD** THB LLP 1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB **THE RETREAT, LOXWOOD** **Contents of the Financial Statements for the Year Ended 5 April 2022** ||**Page**| |---|---| |**Report of the Trustees**|1| |**Independent Examiner's Report**|2| |**Statement of Financial Activities**|3| |**Balance Sheet**|4 to 5| |**Notes to the Financial Statements**|6 to 11| |**Detailed Statement of Financial Activities**|12| **THE RETREAT, LOXWOOD** **Report of the Trustees for the Year Ended 5 April 2022** The trustees present their report with the financial statements of the charity for the year ended 5 April 2022. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 258850 ## **Principal address** 7 Rosemary Gardens Godalming Surrey GU7 1UZ ## **Trustees** Mr R Hallt Mr M Slorick Mr N Jones Mr R Winney Ms B Kitchener ## **Independent Examiner** THB LLP 1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB 02/02/2023 Approved by order of the board of trustees on ............................................. and signed on its behalf by: ............................................................................... R Hallt - Trustee Page 1 **Independent Examiner's Report to the Trustees of The Retreat, Loxwood** ## **Independent examiner's report to the trustees of The Retreat, Loxwood** I report to the charity trustees on my examination of the accounts of The Retreat, Loxwood (the Trust) for the year ended 5 April 2022. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. THB LLP 1 & 2 Studley Court Mews Studley Court Guildford Road Chobham Surrey GU24 8EB 02/02/2023 Date: ............................................. Page 2 **THE RETREAT, LOXWOOD** ## **Statement of Financial Activities for the Year Ended 5 April 2022** |**Notes**
**INCOME AND ENDOWMENTS FROM**
Other trading activities
2
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
4
Other
**Total**
Net gains on investments
**NET INCOME**
**Transfers between funds**
11
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**fund**
**£**
-
16,082
16,082
51
3,480
3,531
101,521
114,072
(72,450)
41,622
1,279,016
1,320,638|**Endowment**
**fund**
**£**
56,806
-
56,806
45,750
-
45,750
-
11,056
72,450
83,506
236,934
320,440|**5.4.22**
**Total**
**funds**
**£**
56,806
16,082
72,888
45,801
3,480
49,281
101,521
125,128
-
125,128
1,515,950
1,641,078|**5.4.21**
**Total**
**funds**
**£**
60,016
16,167
76,183
22,877
23,154
46,031
425,171
455,323
-
455,323
1,061,337
1,516,660| |---|---|---|---|---| The notes form part of these financial statements Page 3 ## **THE RETREAT, LOXWOOD** ## **Balance Sheet** ## **5 April 2022** |**Notes**
**FIXED ASSETS**
Tangible assets
7
Investments
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
10
**NET ASSETS**|**Unrestricted**
**fund**
**£**
-
1,233,447
1,233,447
3,177
86,634
89,811
89,811
1,323,258
(2,620)
1,320,638|**Endowment**
**fund**
**£**
320,440
-
320,440
-
-
-
-
320,440
-
320,440|**5.4.22**
**Total**
**funds**
**£**
320,440
1,233,447
1,553,887
3,177
86,634
89,811
89,811
1,643,698
(2,620)
1,641,078|**5.4.21**
**Total**
**funds**
**£**
320,440
1,115,870
1,436,310
19,051
61,299
80,350
80,350
1,516,660
-
1,516,660| |---|---|---|---|---| The notes form part of these financial statements continued... Page 4 ## **THE RETREAT, LOXWOOD** |**Balance Sheet- continued**
**5 April 2022**
**FUNDS**
11
Unrestricted funds
Endowment funds
**TOTAL FUNDS**|1,320,638
320,440
1,641,078|1,196,220
320,440
1,516,660| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. Mr R Winnwey - Trustee ............................................. Mr N Jones - Trustee ............................................. Mr M Slorick - Trustee ............................................. Mr R Hallt - Trustee ............................................. Ms B Kitchener - Trustee The notes form part of these financial statements Page 5 **THE RETREAT, LOXWOOD** **Notes to the Financial Statements for the Year Ended 5 April 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. OTHER TRADING ACTIVITIES** |**OTHER TRADING ACTIVITIES**||| |---|---|---| ||**5.4.22**|**5.4.21**| ||**£**|**£**| |Rents receivable|56,806|60,016| Page 6 continued... **THE RETREAT, LOXWOOD** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 5 April 2022** ## **3. INVESTMENT INCOME** |Dividends and stock interest
Deposit account interest
**4.**
**RAISING FUNDS**
**Investment management costs**
Managing agents commission
Property repairs & maintenance|**5.4.22**
**£**
16,056
26
16,082
**5.4.22**
**£**
9,533
24,937
34,470|**5.4.21**
**£**
16,026
141
16,167
**5.4.21**
**£**
9,335
13,542
22,877| |---|---|---| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 5 April 2022 nor for the year ended 5 April 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021. ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
Other
**Total**
Net gains on investments
**NET INCOME**
**Transfers between funds**
**Net movement in funds**|**Unrestricted**
**fund**
**£**
-
16,167
16,167
-
12,189
12,189
425,171
429,149
(56,622)
372,527|**Endowment**
**fund**
**£**
60,016
-
60,016
22,877
10,965
33,842
-
26,174
56,622
82,796|**Total**
**funds**
**£**
60,016
16,167
76,183
22,877
23,154
46,031
425,171
455,323
-
455,323| |---|---|---|---| continued... Page 7 **THE RETREAT, LOXWOOD** ## **Notes to the Financial Statements - continued for the Year Ended 5 April 2022** |**6.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
**Unrestricted**
**Endowment**
**fund**
**fund**
**£**
**£**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
823,693
237,644
**TOTAL FUNDS CARRIED FORWARD**
1,196,220
320,440
**7.**
**TANGIBLE FIXED ASSETS**
**COST**
At 6 April 2021 and 5 April 2022
**NET BOOK VALUE**
At 5 April 2022
At 5 April 2021
**8.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 6 April 2021
Additions
Revaluations
At 5 April 2022
**NET BOOK VALUE**
At 5 April 2022
At 5 April 2021
There were no investment assets outside the UK.
Cost or valuation at 5 April 2022 is represented by:
Valuation in 2022
Cost|**Total**
**funds**
**£**
1,061,337
1,516,660
**Freehold**
**property**
**£**
320,440
320,440
320,440
**Listed**
**investments**
**£**
1,115,870
16,056
101,521
1,233,447
1,233,447
1,115,870
**Listed**
**investments**
**£**
101,521
1,131,926
1,233,447| |---|---| continued... Page 8 **THE RETREAT, LOXWOOD** **Notes to the Financial Statements - continued for the Year Ended 5 April 2022** |**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments
**10.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Other creditors
**11.**
**MOVEMENT IN FUNDS**
**Net**
**movement**
**At 6.4.21**
**in funds**
**£**
**£**
**Unrestricted funds**
General fund
1,279,016
114,072
**Endowment funds**
ENDOWMENT
236,934
11,056
**TOTAL FUNDS**
1,515,950
125,128
Net movement in funds, included in the above are as follows:
**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
**Unrestricted funds**
General fund
16,082
(3,531)
**Endowment funds**
ENDOWMENT
56,806
(45,750)
**TOTAL FUNDS**
72,888
(49,281)|**5.4.22**
**£**
798
1,500
879
3,177
**5.4.22**
**£**
2,620
**Transfers**
**between**
**funds**
**£**
(72,450)
72,450
-
**Gains and**
**losses**
**£**
101,521
-
101,521|**5.4.21**
**£**
-
19,051
-
19,051
**5.4.21**
**£**
-
**At**
**5.4.22**
**£**
1,320,638
320,440
1,641,078
**Movement**
**in funds**
**£**
114,072
11,056
125,128| |---|---|---| continued... Page 9 **THE RETREAT, LOXWOOD** **Notes to the Financial Statements - continued for the Year Ended 5 April 2022** ## **11. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Net**
**movement**
**At 6.4.20**
**in funds**
**£**
**£**
**Unrestricted funds**
General fund
823,693
429,149
**Endowment funds**
ENDOWMENT
237,644
26,174
**TOTAL FUNDS**
1,061,337
455,323
Comparative net movement in funds, included in the above are as follows:
**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
**Unrestricted funds**
General fund
16,167
(12,189)
**Endowment funds**
ENDOWMENT
60,016
(33,842)
**TOTAL FUNDS**
76,183
(46,031)
A current year 12 months and prior year 12 months combined position is as follows:
**Net**
**movement**
**At 6.4.20**
**in funds**
**£**
**£**
**Unrestricted funds**
General fund
823,693
543,221
**Endowment funds**
ENDOWMENT
237,644
37,230
**TOTAL FUNDS**
1,061,337
580,451|**Transfers**
**between**
**funds**
**£**
(56,622)
56,622
-
**Gains and**
**losses**
**£**
425,171
-
425,171
**Transfers**
**between**
**funds**
**£**
(129,072)
129,072
-|**At**
**5.4.21**
**£**
1,196,220
320,440
1,516,660
**Movement**
**in funds**
**£**
429,149
26,174
455,323
**At**
**5.4.22**
**£**
1,237,842
403,946
1,641,788| |---|---|---| |||| continued... Page 10 **THE RETREAT, LOXWOOD** **Notes to the Financial Statements - continued** ## **for the Year Ended 5 April 2022** ## **11. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Endowment funds**
ENDOWMENT
**TOTAL FUNDS**|**Incoming**
**Resources**
**Gains and**
**Movement**
**resources**
**expended**
**losses**
**in funds**
**£**
**£**
**£**
**£**
32,249
(15,720)
526,692
543,221
116,822
(79,592)
-
37,230
149,071
(95,312)
526,692
580,451| |---|---| ## **12. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 5 April 2022. Page 11 **THE RETREAT, LOXWOOD** |**Detailed Statement of Financial Activities**||| |---|---|---| |**for the Year Ended 5 April 2022**||| ||**5.4.22**|**5.4.21**| ||**£**|**£**| |**INCOME AND ENDOWMENTS**||| |**Other trading activities**||| |Rents receivable|56,806|60,016| |**Investment income**||| |Dividends and stock interest|16,056|16,026| |Deposit account interest|26|141| ||16,082|16,167| |**Total incoming resources**|72,888|76,183| |**EXPENDITURE**||| |**Investment management costs**||| |Managing agents commission|9,533|9,335| |Property repairs & maintenance|24,937|13,542| ||34,470|22,877| |**Support costs**||| |**Information technology**||| |Subscription|1,290|-| |**Other**||| |Insurance|1,070|1,950| |Light and heat|8,676|6,898| |C D C Careline|-|1,216| |Sundries|295|901| ||10,041|10,965| |**Other 2**||| |Administration expenses|1,980|12,189| |**Governance costs**||| |Accountancy and legal fees|1,500|-| |Total resources expended|49,281|46,031| |**Net income**|23,607|30,152| This page does not form part of the statutory financial statements Page 12