**Charity number: 258850**
## **THE RETREAT LOXWOOD**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2024**
## **THE RETREAT LOXWOOD**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the charity, its trustees and advisers**|1|
|**Trustees' report**|2 - 5|
|**Independent examiner's report**|6|
|**Statement of financial activities**|7|
|**Balance sheet**|8|
|**Notes to the financial statements**|9 - 17|
## **THE RETREAT LOXWOOD**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024**
## **Trustees**
N Jones M Slorick R Winney R Kitchener J Pauling (appointed 29 April 2023, resigned 14 October 2024) Mrs V Birse (appointed 29 April 2023)
## **Charity registered number**
258850
## **Principal office**
200 Brooklands Road, Weybridge, Surrey, KT13 0RJ
## **Accountants**
P M Landergan FCA, 26 Burney Street, London, SE10 8EX
Page 1
## **THE RETREAT LOXWOOD**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2024**
The Trustees present their annual report together with the financial statements of the charity for the year 6 April 2023 to 5 April 2024.
## **Objectives and Activities**
## **a. POLICIES AND OBJECTIVES**
The Charity provides affordable housing to elderly people.
## **b. ACTIVITIES FOR ACHIEVING OBJECTIVES**
The Charity has managed and maintained its principal property in Loxwood West Sussex
## **c. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT**
9 Flats have been provided at below market rent in the area covered by Loxwood, Northchapel, Norwood and Petworth meeting the Charity Commission requirement to provide public benefit
## **Achievements and performance**
## **a. REVIEW OF ACTIVITIES**
The trustees have continued to provide each resident with suitable housing in a pleasant environment whilst seeking to develop the property with professional guidance especially concerning the energy efficiency of the building and enlarging some of the smaller units.
## **b. INVESTMENT POLICY AND PERFORMANCE**
The Trustees have engaged brokers to manage it's investments to provide an appropriate balance of growth and income.
## **Financial review**
## **a. GOING CONCERN**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## **b. RESERVES POLICY**
The Trustees aim to retain sufficient liquid funds to meet the immediate needs of the Charity whilst allowing the investment portfolio to grow and most of the income from the portfolio is reinvested into the funds and is available to fund planned improvements to the facilities..
Page 2
## **THE RETREAT LOXWOOD**
**TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2024**
## **c. Prior Years**
The results for 2023 have been restated since on reviewing the SORP it was realised that the freehold should have been depreciated and some minor adjustments to the value of the investments have been made.
## **Structure, governance and management**
## **a. CONSTITUTION**
The principal object of the charity set out in the Trust Deed dated 5th April 1966 is to provide below market rate housing to residents over 60.
## **b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **c. ORGANISATIONAL STRUCTURE AND DECISION MAKING**
Major decisions are taken by the Trustees and the day to day management has been contractually delegated to T (Property) MC Limited
Page 3
## **THE RETREAT LOXWOOD**
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2024**
## **TRUSTEES' RESPONSIBILITIES STATEMENT**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 4
## **THE RETREAT LOXWOOD**
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2024**
This report was approved by the Trustees, on 1 February 2025 and signed on their behalf by:
## **Mrs V Birse**
Trustee
Page 5
## **THE RETREAT LOXWOOD**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE RETREAT LOXWOOD (the 'charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2024.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
## **RESPONSIBILITIES AND BASIS OF REPORT**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **INDEPENDENT EXAMINER'S STATEMENT**
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I can confirm that no 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 charity as required by section 130 of the 2011 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.
Signed: Dated: 3 February 2025
P M Landergan FCA 7643305
Landergan & Co Ltd, 26 Burney Street, London SE10 8EX
Page 6
## **THE RETREAT LOXWOOD**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024**
|**Unrestricted**
**funds**
**Endowment**
**funds**
**Note**
**2024**
**£**
**2024**
**£**
**INCOME AND ENDOWMENTS FROM:**
Investments
2
**95,538**
**-**
**TOTAL INCOME AND ENDOWMENTS**
**95,538**
**-**
**EXPENDITURE ON:**
Charitable activities
4
**61,712**
**6,409**
**TOTAL EXPENDITURE**
5
**61,712**
**6,409**
**NET INCOME / (EXPENDITURE) BEFORE**
**INVESTMENT GAINS/(LOSSES)**
**33,826**
**(6,409)**
Net gains/(losses) on investments
**62,255**
**-**
**NET INCOME / (EXPENDITURE) BEFORE**
**OTHER RECOGNISED GAINS AND LOSSES**
**96,081**
**(6,409)**
**NET MOVEMENT IN FUNDS**
**96,081**
**(6,409)**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**1,047,783**
**262,760**
**TOTAL FUNDS CARRIED FORWARD**
**1,143,864**
**256,351**|**Total**
**funds**
**2024**
**£**
**95,538**
**95,538**
**68,121**
**68,121**
**27,417**
**62,255**
**89,672**
**89,672**
**1,310,543**
**1,400,215**|_As restated_
_Total_
_funds_
_2023_
_£_
_74,516_
_74,516_
_126,006_
_126,006_
_(51,490)_
_(279,044)_
_(330,534)_
_(330,534)_
_1,641,077_
_1,310,543_|
|---|---|---|
The notes on pages 9 to 17 form part of these financial statements.
Page 7
## **THE RETREAT LOXWOOD**
## **BALANCE SHEET AS AT 5 APRIL 2024**
|**Note**
**FIXED ASSETS**
Tangible assets
9
Investments
10
**CURRENT ASSETS**
Debtors
11
Cash at bank and in hand
**CREDITORS:**amounts falling due within
one year
12
**NET CURRENT ASSETS**
**NET ASSETS**
**CHARITY FUNDS**
Endowment funds
13
Unrestricted funds
13
**TOTAL FUNDS**|**£**
**14,369**
**86,068**
**100,437**
**(1,500)**|**2024**
**£**
**256,351**
**1,044,927**
**1,301,278**
**98,937**
**1,400,215**
**256,351**
**1,143,864**
**1,400,215**|_£_
_-_
_121,005_
_121,005_
_(7,500)_|_As restated_
_2023_
_£_
_262,760_
_934,278_|
|---|---|---|---|---|
|||||_1,197,038_
_113,505_|
|||||_1,310,543_|
|||||_262,760_
_1,047,783_|
|||||_1,310,543_|
The financial statements were approved by the Trustees on 1 February 2025 and signed on their behalf, by:
## **Mrs V Birse**
The notes on pages 9 to 17 form part of these financial statements.
Page 8
**THE RETREAT LOXWOOD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **1. ACCOUNTING POLICIES**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
The Retreat Loxwood constitutes a public benefit entity as defined by FRS 102.
## **1.2 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to 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 charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 9
**THE RETREAT LOXWOOD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **1. ACCOUNTING POLICIES (continued)**
## **1.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
## **1.4 Tangible fixed assets and depreciation**
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 recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold property
- 2% Straight Line
## **1.5 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of financial activities.
## **1.6 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **1.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 10
**THE RETREAT LOXWOOD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **1. ACCOUNTING POLICIES (continued)**
## **1.8 Cash at Bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
## **1.10 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.11 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **2. INVESTMENT INCOME**
|**Unrestricted**
**funds**
**Endowment**
**funds**
**2024**
**£**
**2024**
**£**
Investment income - local investment
properties
**67,152**
**-**
Investment income - local listed
investments
**28,386**
**-**
**95,538**
**-**
_Total 2023_
_74,516_
_-_|**Total**
**funds**
**2024**
**£**
**67,152**
**28,386**
**95,538**
_74,516_|_Total_
_funds_
_2023_
_£_
_54,165_
_20,351_
_74,516_|
|---|---|---|
||||
Page 11
## **THE RETREAT LOXWOOD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **3. SUPPORT COSTS**
|Office costs
Professional Fees
Investment management
Bank charges
Repairs & maintenance
Property management
Depreciation
_Total 2023_|**Activities**
**£**
**1,448**
**6,642**
**11,939**
**22**
**29,075**
**10,755**
**6,409**
**66,290**
_124,560_|**Total**
**2024**
**£**
**1,448**
**6,642**
**11,939**
**22**
**29,075**
**10,755**
**6,409**
**66,290**
_124,560_|_Total_
_2023_
_£_
_3,355_
_1,195_
_14,580_
_41_
_37,859_
_9,850_
_57,680_
_124,560_|
|---|---|---|---|
|||||
## **4. GOVERNANCE COSTS**
|**Unrestricted**
**funds**
**Endowment**
**funds**
**2024**
**£**
**2024**
**£**
Governance Examination Fee
**1,500**
**-**
Governance - Trustees travel expenses
**331**
**-**
**1,831**
**-**
**ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE**
**Depreciation**
**Other costs**
**2024**
**£**
**2024**
**£**
Direct costs
**6,409**
**59,881**
Expenditure on governance
**-**
**1,831**
**6,409**
**61,712**
_Total 2023_
_57,680_
_68,326_|**Total**
**funds**
**2024**
**£**
**1,500**
**331**
**1,831**
**Total**
**2024**
**£**
**66,290**
**1,831**
**68,121**
_126,006_|_Total_
_funds_
_2023_
_£_
_1,200_
_246_|
|---|---|---|
||||
||||
|||_1,446_|
|||_Total_
_2023_
_£_
_124,560_
_1,446_|
||||
||||
|||_126,006_|
||||
## **5. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE**
Page 12
**THE RETREAT LOXWOOD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **6. NET INCOME/(EXPENDITURE)**
This is stated after charging:
|||_As restated_|
|---|---|---|
||**2024**|_2023_|
||**£**|_£_|
|Depreciation of tangible fixed assets:|||
|- owned by the charity|**6,409**|_57,680_|
During the year, no Trustees received any remuneration (2023 - £NIL). During the year, no Trustees received any benefits in kind (2023 - £NIL).
4 Trustees received reimbursement of expenses amounting to £331 in the current year, (2023 - 4 Trustees - £246).
## **7. AUDITORS' REMUNERATION**
The Independent Examiner's remuneration amounts to an Independent Examination fee of £1,500 (2023 - £1,200), and no other services were provided of £ -(2023 - £ -).
Page 13
## **THE RETREAT LOXWOOD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **8. TRUSTEES' REMUNERATION**
## **9. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**||
|---|---|
|**Cost**
At 6 April 2023 and 5 April 2024
**Depreciation**
At 6 April 2023
Charge for the year
At 5 April 2024
**Net book value**
At 5 April 2024
_At 5 April 2023_|**Freehold**
**property**
**£**
**320,440**|
||**57,680**
**6,409**|
||**64,089**|
||**256,351**|
||_262,760_|
The above value represents the historic carrying value
## **10. FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**||
|---|---|
|**Market value**
At 6 April 2023
Additions
Disposals
At 5 April 2024
**Impairment**
At 6 April 2023
Charge for the year
At 5 April 2024
**Net book value**
At 5 April 2024
_At 5 April 2023_
**Historical cost**|**Listed**
**securities**
**£**
**934,278**
**135,564**
**(97,549)**|
||**972,293**|
||**-**
**(72,634)**|
||**(72,634)**|
||**1,044,927**|
||_934,278_|
||**919,741**|
Page 14
## **THE RETREAT LOXWOOD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **10. FIXED ASSET INVESTMENTS (continued)**
## **Investments at market value comprise:**
|Listed investments
All the fixed asset investments are held in the UK|**2024**
**£**
**1,044,927**|_As restated_
_2023_
_£_
_934,278_|
|---|---|---|
||||
## **11. DEBTORS**
|Trade debtors
Prepayments and accrued income|**2024**
**£**
**12,227**
**2,142**
**14,369**|_2023_
_£_
_-_
_-_|
|---|---|---|
|||_-_|
## **12. CREDITORS: Amounts falling due within one year**
|Trade creditors
Accruals and deferred income|**2024**
**£**
**-**
**1,500**
**1,500**|_2023_
_£_
_5,220_
_2,280_|
|---|---|---|
|||_7,500_|
## **13. STATEMENT OF FUNDS**
## **STATEMENT OF FUNDS - CURRENT YEAR**
|**Balance at**
**6 April 2023**
**£**
**Unrestricted funds**
General Funds - all funds
**1,047,783**
Other General funds
**-**
**1,047,783**|**Income Expenditure**
**£**
**£**
**-**
**-**
**95,538**
**(61,712)**
**95,538**
**(61,712)**|**Gains/**
**(Losses)**
**Balance at**
**5 April 2024**
**£**
**£**
**62,255**
**1,110,038**
**-**
**33,826**
**62,255**
**1,143,864**|**Gains/**
**(Losses)**
**Balance at**
**5 April 2024**
**£**
**£**
**62,255**
**1,110,038**
**-**
**33,826**
**62,255**
**1,143,864**|
|---|---|---|---|
|||||
|||||
||||**1,143,864**|
Page 15
## **THE RETREAT LOXWOOD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **13. STATEMENT OF FUNDS (continued)**
## **Endowment funds**
|Endowment Funds - all funds
**262,760**
Other Endowment funds
**-**
**262,760**
Total of funds
**1,310,543**
**STATEMENT OF FUNDS - PRIOR YEAR**
_Balance at_
_6 April 2022_
_£_
**General funds**
General Funds - all funds
_1,320,637_
Endowment Funds - all funds
_320,440_
**SUMMARY OF FUNDS - CURRENT YEAR**
**Balance at**
**6 April 2023**
**£**
General funds
**1,047,783**
Endowment funds
**262,760**
**1,310,543**
**SUMMARY OF FUNDS - PRIOR YEAR**
_Balance at_
_6 April 2022_
_£_
General funds
_1,320,637_
Endowment funds
_320,440_
_1,641,077_|**-**
**-**
**-**
**(6,409)**
**-**
**(6,409)**
**95,538**
**(68,121)**
_Income_
_Expenditure_
_£_
_£_
_74,516_
_(47,633)_
_-_
_(57,680)_
**Income Expenditure**
**£**
**£**
**95,538**
**(61,712)**
**-**
**(6,409)**
**95,538**
**(68,121)**
_Income_
_Expenditure_
_£_
_£_
_74,516_
_(47,633)_
_-_
_(57,680)_
_74,516_
_(105,313)_|**-**
**262,760**
**-**
**(6,409)**
**-**
**256,351**
**62,255**
**1,400,215**
_Gains/_
_(Losses)_
_Balance at 5_
_April 2023_
_£_
_£_
_(299,737)_
_1,047,783_
_-_
_262,760_
**Gains/**
**(Losses)**
**Balance at**
**5 April 2024**
**£**
**£**
**62,255**
**1,143,864**
**-**
**256,351**
**62,255**
**1,400,215**
_Gains/_
_(Losses)_
_Balance at 5_
_April 2023_
_£_
_£_
_(299,737)_
_1,047,783_
_-_
_262,760_
_(299,737)_
_1,310,543_|
|---|---|---|
Page 16
**THE RETREAT LOXWOOD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **14. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR**
|**Unrestricted**
**funds**
**Endowment**
**funds**
**2024**
**£**
**2024**
**£**
Tangible fixed assets
**-**
**256,351**
Fixed asset investments
**1,044,927**
**-**
Current assets
**100,437**
**-**
Creditors due within one year
**(1,500)**
**-**
**1,143,864**
**256,351**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR**
_Unrestricted_
_funds_
_Endowment_
_funds_
_2023_
_£_
_2023_
_£_
Tangible fixed assets
_-_
_262,760_
Fixed asset investments
_934,278_
_-_
Current assets
_121,005_
_-_
Creditors due within one year
_(7,500)_
_-_
_1,047,783_
_262,760_|**Total**
**funds**
**2024**
**£**
**256,351**
**1,044,927**
**100,437**
**(1,500)**
**1,400,215**
_Total_
_funds_
_2023_
_£_
_262,760_
_934,278_
_121,005_
_(7,500)_
_1,310,543_|
|---|---|
Page 17